Returned at Counter

2026-004544

Klamath County, Oregon

YHEN RECORDED RETURN TO ”"I“I”I I IIII' " | I I"II”"IIIIII IIlI
Mika N. Bai 8320260004544009009

Ika N. Bair - -
Bair Law, LLC 05/22/2026 08:13:32 AM Fee: $127.00

628 Main Street
Klamath Falls OR 97601

TRUST DEED

THIS TRUST DEED is made on June 1, 2026, by Andrew Jeffery Cibotti and
Stacy Elizabeth Cibotti, tenants by the entirety, whose address is 6510 South Sixth Street
#238, Klamath Falls, Oregon 97603 (“Grantors”), to Mika N. Bair, Bair Law, LLC, 628
Main Street, Klamath Falls, Oregon 97601 (“Trustee”), for the benefit of David F. Immen,
whose address is Post Office Box 66, Bonanza, Oregon 97623 (“Beneficiary”).

WHEREAS, Beneficiary has made a loan to Grantors in the sum of $29,500.00,
which loan is to be evidenced by a Promissory Note dated June 1, 2026. The loan, if not
sooner paid, is due and payable in full on October 1, 2033. The Promissory Note, as it
may be modified, extended, or replaced from time to time, is referred to herein as the
“Note.”

WHEREAS, as a condition to making the loan to Grantors, Beneficiary has
required, and Grantors have agreed, to provide this Trust Deed.

NOW, THEREFORE, for valuable consideration, receipt of which is hereby
acknowledged, and for the purpose of securing the Obligations described above and in
Section 1.1 below, Grantors hereby irrevocably grant, bargain, sell, convey, assign, and
transfer to Trustee in trust for the benefit and security of Beneficiary, with power of sale,
all Grantors’ right, title, and interest in and to the real property located in Klamath County,
Oregon, and more particularly described as follows:

Lot 16, Block 131, Klamath Falls Forest Estates, Hwy 66 Unit, Plat No.
4, according to the official plat thereof on file in the office of the County
Clerk of Klamath County, Oregon.

Klamath County Assessor’'s Tax Lot No. R-3811-012A0-00100
and Tax Account No. 467300

together with (1) all dwellings and other improvements now or hereafter located on the
property, (2) all easements, tenements, hereditaments, and appurtenances relating to it,
(3) all awards for any taking of all or any portion of it, and (4) all insurance proceeds for
any damage to it (collectively, the “Trust Property”).

TO HAVE AND TO HOLD the Trust Property to the Trustee and its successors and
assigns for the benefit of Beneficiary and its successors and assigns until all the
Obligations are paid, performed, and satisfied in full, at which time the lien and estate
hereby granted will be reconveyed.

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This Trust Deed, the Note, and all other agreements executed at any time in
connection with them, as they may be amended or supplemented from time to time, are
sometimes collectively referred to as the “Documents.”

TO PROTECT THE SECURITY OF THIS TRUST DEED, GRANTORS COVENANT AND
AGREE AS FOLLOWS:

ARTICLE |
PARTICULAR COVENANTS AND WARRANTIES OF GRANTORS

1.1 Obligations Secured. This Trust Deed secures the payment of all
indebtedness, including, but not limited to, principal and interest, and the performance of
all covenants and obligations of Grantors, under the Note, this Trust Deed, and the other
Documents, whether payment and performance is now due or becomes due in the future
(collectively, the “Obligations™).

1.2 Payment and Performance. Grantors will pay and perform all the
Obligations when due.

1.3 Property. Grantors warrant that they hold good and merchantable title to
the Trust Property, free and clear of all liens, encumbrances, reservations, restrictions,
easements, and adverse claims. Grantors covenant that they will forever defend
Beneficiary’s and Trustee’s rights hereunder and the priority of this Trust Deed against
the adverse claims and demands of all persons.

1.4 Further Assurances. Grantors will execute, acknowledge, and deliver,
from time to time, any further instruments that Beneficiary or Trustee may require to
accomplish the purposes of this Trust Deed.

1.5 Compliance with Laws. Grantors represent, warrant, and covenant that
the Trust Property is currently in material compliance with, and will at all times be
maintained in material compliance with, all applicable laws and all covenants, conditions,
easements, and restrictions affecting the Trust Property.

1.6 Environmental Compliance

(1)  For purposes of this section, Environmental Law means any federal, state,
or local law or regulation now or hereafter at any time pertaining to Hazardous Substances
or environmental conditions. For purposes of this section, Hazardous Substance includes,
without limitation, any substance that is or becomes classified as hazardous, dangerous,
or toxic under any federal, state, or local law or regulation.

(2)  Grantors will not use, generate, store, release, discharge, or dispose of on,
under, or about the Trust Property or the groundwater thereof any Hazardous Substance
and will not permit any other person to do so, except for storage and use of Hazardous
Substances (and in such quantities) as may commonly be used for household purposes
and agricultural purposes, as long as those substances are stored and used in
compliance with all Environmental Laws. Grantors will keep and maintain the Trust
Property in compliance with all Environmental Laws.

(3)  Beneficiary will have the right to participate in any legal proceeding initiated
with respect to the Trust Property in connection with any Environmental Law and to have
its attorney fees paid by Grantors. If, at any time, Beneficiary has reason to believe that
any violation of this Section 1.6 has occurred or is threatened, Beneficiary may require
Grantors to obtain or may itself obtain, at Grantors’ expense, an environmental

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assessment by a qualified environmental consultant. Grantors will promptly provide
Beneficiary with a complete copy of any environmental assessment obtained by Grantors.

(4) If any investigation, monitoring, containment, cleanup, or other remedial
work of any kind is required on the Trust Property under any applicable Environmental
Law or by any governmental agency or person in connection with a release of a
Hazardous Substance, Grantors will promptly complete all that work at Grantors’
expense.

| (5)  All representations, warranties, and covenants in this Section 1.6 are to
survive the satisfaction of the Obligations, the reconveyance of the Trust Property, or the
foreclosure of this Trust Deed.

1.7 Maintenance and Improvements. Grantors will not permit the Trust
Property or any part of it to be removed, demolished, or materially altered without
Beneficiary’s prior written consent. Grantors will maintain the Trust Property, and every
portion of it, in good repair and condition, except for reasonable wear and tear, and will
at Beneficiary’s election restore, replace, or rebuild the Trust Property or any part of it
now or hereafter damaged or destroyed by any casualty (whether or not insured against
or insurable) or affected by any Condemnation (as defined in Section 2). Grantors will not
commit or suffer any waste or strip of the Trust Property.

1.8 Liens. Grantors will pay when due all claims for labor and materials that, if
unpaid, might become a lien on the Trust Property. Grantors will not create or suffer any
lien, security interest, or encumbrance on the Trust Property that may be prior to, or on a
parity with, the lien of this Trust Deed.

1.9 Impositions. Grantors will pay when due all taxes, assessments, fees, and
other governmental and nongovernmental charges of every nature now or hereafter
assessed against any part of the Trust Property or on the lien or estate of Beneficiary or
Trustee therein (collectively, the “Impositions”); however, if by law any such Imposition
may be paid in installments, Grantors may pay the same in instaliments, together with
accrued interest on the unpaid balance thereof, as they become due. Grantors will furnish
to Beneficiary promptly on request satisfactory evidence of the payment of all Impositions.
Beneficiary is hereby authorized to request and receive from the responsible
governmental and nongovernmental personnel written statements with respect to the
accrual and payment of all Impositions.

1.10 Limitations of Use. Grantors will not initiate or consent to any replatting,
partitioning, or rezoning of the Trust Property or any change in any covenant or other
public or private restrictions limiting or defining the uses that may be made of the Trust
Property without the prior written consent of Beneficiary.

1.11 Insurance

(1) Property and Other Insurance. Grantors will obtain and maintain during the
term of this Trust Deed Basic Form property insurance, unless waived by Beneficiary, in
an amount not less than the full remaining principal balance of the Note or, if greater, in
the amount of the full replacement cost of the Trust Property, without reduction for
coinsurance.

(2) Insurance Companies and Policies. All insurance must (a) be written by a
company or companies reasonably acceptable to Beneficiary, (b) contain a long-form
mortgagee endorsement in favor of Beneficiary with proceeds under any policy payable
to Beneficiary, subject to the terms of this Trust Deed, (c) require 10 days’ prior written
notice to Beneficiary of cancellation or reduction in coverage, and (d) contain a waiver of

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subrogation. Grantors will furnish to Beneficiary on request a certificate evidencing the
coverage required under this Trust Deed and a copy of each policy.

1.12 Casualty/Loss Restoration

(1)  After the occurrence of any casualty to the Trust Property, whether or not
covered by insurance, Grantors will give prompt written notice thereof to Beneficiary. The
Beneficiary may make proof of loss if the Grantors fail to do so promptly and to the
Beneficiary's satisfaction.

(2)  All insurance proceeds with respect to the Trust Property must be payable
to the Beneficiary. At Beneficiary’s discretion, insurance proceeds may be applied to the
Obligations or may be released to Grantor, on any terms and conditions that Beneficiary
elects, for restoration of the Trust Property.

1.13 Actions to Protect Trust Property; Reserves

(1) If Grantors fail to pay, perform, or observe any of its covenants hereunder,
Beneficiary may, but will not be required to, take any actions it deems appropriate to
remedy the failure. All sums, including reasonable attorney fees, so expended, or
expended to maintain the lien or estate of this Trust Deed or its priority, or to protect or
enforce any of Beneficiary’s rights hereunder, will be a lien on the Trust Property, will be
secured by this Trust Deed, and will be paid by Grantors on demand, together with interest
thereon at the rate provided in the Note. No payment or other action by Beneficiary under
this section will impair any other right or remedy available to Beneficiary or constitute a
waiver of any Event of Default. The following notice is provided pursuant to ORS
746.201(1):

WARNING:

Unless Grantors provide Beneficiary with evidence of the insurance
coverage required by the Note, Beneficiary may purchase insurance at
Grantors’ expense to protect Beneficiary’s interest. This insurance may, but
need not, also protect Grantors’ interest. If the Trust Property becomes
damaged, the coverage Beneficiary purchases may not pay any claim
Grantors make or any claim made against Grantors. Grantors may later
cancel this coverage by providing evidence that Grantors have obtained
property coverage elsewhere.

Grantors are responsible for the cost of any insurance purchased by
Beneficiary. The cost of this insurance may be added to Grantors’ loan
balance. If the cost is added to Grantors’ loan balance, the interest rate on
the underlying loan will apply to this added amount. The effective date of
coverage may be the date Grantors’ prior coverage lapsed or the date
Grantors failed to provide proof of coverage.

The coverage Beneficiary purchases may be considerably more
expensive than insurance Grantors can obtain on their own and may not
satisfy any need for property damage coverage or any mandatory liability
insurance requirements imposed by applicable law.

(2) If Grantors fail to promptly perform any of its obligations under Section 1.9
or 1.11 of this Trust Deed, Beneficiary may require Grantors thereafter to pay and
maintain with Beneficiary reserves for paying those obligations. In that event, Grantors
will pay to Beneficiary each month a sum estimated by Beneficiary to be sufficient to
produce, at least 20 days before due, an amount equal to the Impositions, insurance
premiums, or both. If the sums so paid are insufficient to satisfy any Imposition or

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insurance premium when due, Grantors will pay any deficiency to Beneficiary on demand.
The reserves may be commingled with the Beneficiary’s other funds. Beneficiary will give
a credit to Grantors’ interest on those reserves at the minimum rate required from time to
time by applicable law. Beneficiary will not hold the reserves in trust for Grantors, and
Beneficiary will not be the agent of Grantors for payment of the taxes and assessments
required to be paid by Grantors.

1.14 Estoppel Certificates. Grantors, within five days of request therefor, will
furnish to Trustee and Beneficiary a written statement, duly acknowledged, of the amount
of the Obligations secured by this Trust Deed and whether any offsets or defenses exist
against the Obligations secured hereby. If Grantors fail to furnish this statement within the
time allowed, Beneficiary will be authorized, as Grantors’ attorney-in-fact, to execute and
deliver the statement.

ARTICLE i
CONDEMNATION

If the Trust Property or any part of it is taken or damaged by reason of any public
improvement, eminent domain, condemnation proceeding, or in any other manner (a
“Condemnation”), or if Grantors receive any notice or other information regarding such
action, Grantors will give immediate notice thereof to Beneficiary. Beneficiary will be
entitled to all compensation, awards, and other payments or relief therefor
(“Condemnation Proceeds”) up to the full amount of the Obligations, and may appear in
any Condemnation proceeding in its own or Grantors’ name and make any settlement in
connection therewith. Beneficiary may, at its option, apply the Condemnation Proceeds
to the Obligations or release the proceeds to Grantors, on any terms and conditions that
Beneficiary elects, for restoration of the Trust Property.

ARTICLE lll
LEASES AND RENTS

3.1 Assignment of Leases and Rents. Grantors assign to Beneficiary all
leases, rental contracts, and other agreements now or hereafter relating to the Trust
Property or any portion of it (the “Leases”) and all rents and income derived from them
(the “Rents”). Beneficiary will have the right, but will not be obligated, after the occurrence
of an Event of Default, to notify any obligors under any of the Leases that the same have
been assigned to Beneficiary; to discount, compromise, enforce, and collect the Leases
and Rents; and to exercise any other rights and remedies of the lessor in connection with
any of the Leases and Rents. Beneficiary will have the right to use and apply any Rents
received (1) for any costs and expenses incurred in connection with enforcing this
assignment and collecting Rents, (2) for maintaining the Trust Property, and (3) for
reducing the Obligations in any order determined by Beneficiary. Beneficiary hereby gives
Grantors a revocable license to collect and receive the Rents. This license may be
revoked by Beneficiary, without notice to Grantors, on the occurrence of any Event of
Default under this Trust Deed. Grantors agree not to collect any Rents more than 30 days
in advance. This assignment will not operate to place responsibility for the care,
maintenance, or repair of the Trust Property on the Beneficiary.

3.2 Attorney-in-Fact. Grantors irrevocably constitute and appoint Beneficiary
as their true and lawful attorney-in-fact, with power of substitution, to exercise any and all

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of the rights, powers, and authorities described in this Article Ill and to endorse any
instruments given in payment of any Rents.

ARTICLE IV
SECURITY AGREEMENT AND FIXTURE FILING

To secure the Obligations, Grantors hereby grant to Beneficiary a security interest
in all fixtures located on the Trust Property. This Trust Deed constitutes a security
agreement and fixture filing under the Uniform Commercial Code statutes of the state of
Oregon. The mailing address of Grantors and the address of Beneficiary from which
iInformation may be obtained are outlined in the cover sheet of this Trust Deed.

ARTICLE YV
EVENTS OF DEFAULT AND REMEDIES

5.1 Events of Default. Each of the following events will constitute an Event of
Default under this Trust Deed and under each of the other Documents:

(1)  Nonpayment. Grantors’ failure to pay any of the Obligations on or within 15
days after the due date.

(2)  Breach of Other Covenants. Grantors’ failure to perform or abide by any
other covenant included in the Obligations, including, without limitation, those covenants
In the Note, in this Trust Deed, or in any other Document.

(3)  Misinformation. Falsity when made in any material respect of any
representation, warranty, or information furnished by Grantors or their agents to
Beneficiary in connection with any of the Obligations.

(4)  Other Default. The occurrence of any other event of default under the Note,
the Loan Documents, or any other Obligation.

(5)  Other Indebtedness, Secondary Financing. Grantors’ default beyond
applicable grace periods in paying any other indebtedness secured by all or any portion
of the Trust Property.

(6)  Bankruptcy. The occurrence of any of the following with respect to Grantors,
any guarantor of the Obligations, or the then-owner of the Trust Property: (a) the
appointment of a receiver, liquidator, or trustee for any such party or any of its properties,
(b) adjudication as a bankrupt or insolvent, (c) the filing of any petition by or against any
such party under any state or federal bankruptcy, reorganization, moratorium, or
insolvency law, (d) inability to pay debts when due, or (e) any general assignment for the
benefit of creditors.

(7) Transfer; Due-on-Sale. Any sale, gift, conveyance, contract for conveyance,
transfer, or assignment of the Trust Property, or any part of it or any interest in it, either
voluntarily, involuntarily, or by the operation of law (a “Transfer”), without Beneficiary’s
prior written consent. Any lease for a term in excess of three years, and any lease
containing an option to purchase the Trust Property or any portion of it, will be a Transfer.
The provisions of this subsection (7) will apply to every Transfer, regardless of whether
or not Beneficiary has consented or waived its rights in connection with any previous
Transfer. Beneficiary may attach any conditions to its consent under this subsection that
Beneficiary may determine in its sole discretion, including, without limitation, an increase
in the interest rate or the payment of transfer or assumption fees, and the payment of
administrative and legal fees and costs incurred by Beneficiary.

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5.2 Remedies in Case of Default. If an Event of Default occurs, Beneficiary or
Trustee, as the case may be, may exercise any one or more of the following rights and
remedies, in addition to any other remedies that may be available by law, in equity, or
otherwise:

(1)  Acceleration. The Beneficiary may declare all or any portion of the
Obligations immediately due and payable.

(2) Rents. The Beneficiary may revoke Grantors’ right to collect the Rents, and
may collect the Rents. Beneficiary will not be deemed to be in possession of the Trust
Property solely by reason of exercise of the rights contained in this subsection (2).

(3)  Power of Sale. The Beneficiary may direct the Trustee, and the Trustee will
be empowered, to foreclose this Trust Deed by advertisement and sale under applicable
law.

(4)  Foreclosure. The Beneficiary may judicially foreclose this Trust Deed and
obtain a judgment foreclosing Grantors’ interest in all or any part of the Trust Property.

(5) Fixtures and Personal Property. With respect to any fixtures or other
property subject to a security interest in favor of Beneficiary, Beneficiary may exercise
any and all of the rights and remedies of a secured party under the Uniform Commercial
Code.

(6)  Action on Note. The Beneficiary may elect to forgo its rights under this Trust
Deed and to bring a legal action to obtain a judgment on the Note.

5.3 Sale. In any sale under this Trust Deed or pursuant to any judgment, the
Trust Property, to the extent permitted by law, may be sold as an entirety or in one or
more parcels and in any order elected by Beneficiary. The purchaser at any such sale will
take title to the Trust Property or the part of it so sold, free and clear of the estate of
Grantors, the purchaser being hereby discharged from all liability to see to the application
of the purchase money. Any person, including Beneficiary, may purchase at any such
sale. Beneficiary is hereby irrevocably appointed Grantors’ attorney-in-fact, with power of
substitution, to make all appropriate transfers and deliveries of the Trust Property or any
portions of it sold so sold. Nevertheless, Grantors will ratify and confirm any such sale or
sales by executing and delivering to Beneficiary or to such purchaser or purchasers all
such instruments requested by Beneficiary for such purpose.

5.4 Cumulative Remedies. Except as provided by applicable law, all remedies
under this Trust Deed are cumulative, and any election to pursue one remedy will not
preclude the exercise of any other remedy. No delay or omission in exercising any right
or remedy will impair the full exercise of that or any other right or remedy or constitute a
waiver of any Event of Default.

5.5 Application of Proceeds. All proceeds from the exercise of the rights and
remedies under this Article V will be applied as follows: (1) to costs of exercising those
rights and remedies, (2) to the Obligations, in any order determined by Beneficiary in its
sole discretion, and (3) the surplus, if any, will be paid to the clerk of the court in the case
of a judicial foreclosure proceeding, otherwise to the person or persons legally entitled to
it.

ARTICLE VI
GENERAL PROVISIONS

6.1 Time Is of the Essence. Time is of the essence with respect to all
covenants and obligations of Grantors under this Trust Deed.

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6.2 Reconveyance by Trustee. At any time on the request of Beneficiary,
payment of Trustee’s fees, if any, and presentation of this Trust Deed, without affecting
the liability of any person for payment of the Obligations, Trustee may reconvey, without
warranty, all or any part of the Trust Property. The Grantee in any reconveyance may be
described as the “person or persons legally entitled thereto,” and the recitals therein of
any facts will be conclusive proof of the truthfulness of them.

6.3 Notice. Except as otherwise provided in this Trust Deed, all notices must
be in writing and may be delivered by hand, or mailed by first-class certified mail, return
receipt requested, postage prepaid, and addressed to the appropriate party at its address
set forth at the outset of this Trust Deed. Any party may change its address for receiving
notices from time to time by notice to the other parties. Notices given by mail in
accordance with this paragraph will be deemed to have been given on the date of mailing;
notices given by hand will be deemed to have been given when actually received.

6.4 Substitute Trustee. The Beneficiary may substitute at any time one or
more trustees to execute the trust hereby created, and the new trustee(s) will succeed to
all the powers and duties of the prior trustee(s).

6.5 Trust Deed Binding on Successors and Assigns. This Trust Deed is
binding on and inures to the benefit of the heirs, legatees, personal representatlves
successors, and assigns of Grantors, Trustee, and Beneficiary.

6.6 Indemnity. Grantors will, to the fullest extent allowed by law, hold
Beneficiary and Trustee and, if either is a corporation or other legal entity, their respective
directors, officers, employees, agents, and lawyers harmless from and indemnify them
for any and all claims, demands, damages, liabilities, and expenses, including but not
limited to attorney fees and court costs, arising out of or in connection with Trustee’s or
Beneficiary’s interests and rights under this Trust Deed.

6.7 Expenses and Attorney Fees. Grantors will pay all fees, expenses, taxes,
assessments, and charges arising out of or in connection with the execution, delivery,
and recording of this Trust Deed. If Beneficiary refers any of the Obligations to a lawyer
for collection or seeks legal advice after a default, if Beneficiary is the prevailing party in
any litigation instituted in connection with any of the Obligations, or if Beneficiary or any
other person initiates any judicial or nonjudicial action, suit, or proceeding in connection
with any of the Obligations or the Trust Property (including but not limited to bankruptcy,
eminent domain, or probate proceedings), and Beneficiary employs a lawyer to appear in
any such proceeding or to seek relief from a judicial or statutory stay, or otherwise to
enforce Beneficiary’s interests, then Grantors will pay reasonable attorney fees, costs,
and expenses incurred by Beneficiary in connection with the above-mentioned events
and any appeals. Those amounts will be secured by this Trust Deed and, if not paid on
demand, will bear interest at the rate specified in the Note.

6.8 Applicable Law. This Trust Deed will be governed by the laws of the state
of Oregon.

6.9 Person Defined. As used in this Trust Deed, the word person means any
natural person, partnership, trust, corporation, or other legal entity of any nature.

6.10 Severability. If any provision of this Trust Deed is held to be invalid, illegal,
or unenforceable, the other provisions of this Trust Deed will not be affected.

6.11 Entire Agreement. This Trust Deed contains the entire agreement of the
parties with respect to the Trust Property. No prior agreement or promise made by any
party to this Trust Deed that is not contained in this Trust Deed will be binding or valid.

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6.12 Joint and Several Liability. If this Trust Deed is executed by two or more
persons as Grantors, all those persons will be liable, jointly and severally, for paying all
sums and performing all other covenants in this Trust Deed.

6.13 Standard for Discretion. If this Mortgage is silent on the standard for any
consent, approval, determination, or similar discretionary action, the standard will be sole
and unfettered discretion as opposed to any standard of good faith, fairness, or
reasonableness.

Andrew Jeffery Cibotti

Stacy Elizabeth Cibotti

STATE OF OREGON, County of Klamath) ss.

The foregoing instrument was acknowledged before me on N\&\{ Z( , 2026,
by Andrew Jeffery Cibotti and Stacy Elizabeth Cibotti.

Notary Public for Oregon
My commission expires: 2\ |5 202

* OFFICIAL STAMP
3 5 STEPHANIE KOLLENBORM
- 7] NOTARY PUBLIC - OREGON

: COMMISSION NO. 103430
MY COMMISSION EXPIRES MARCH 15, 2027

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