Re: #2/Premier Builders Investments Loan No. 40148 (the "Loan") Trustee No. 20192.026.04/JBH NOTICE OF TRUSTEE'S SALE Pursuant to the Revised Code of Washington Chapter 61.24, et seq. Grantor(s): Hillis Clark Martin & Peterson P.S., Trustee Construction Opportunity Partners No. I,LLC Grantee(s): Premier Builders Investments, LLC Legal Description (abbreviated)*: Lot 38, Holland Glen ( Complete legal on EXHIBIT A Assessor's Parcel No(s)*: 5004560380 Reference No. of Related Documents: 201309300862 *The Assessor's Parcel Number and Abbreviated Legal Description are provided solely to comply with the recording statutes and are not intended to supplement, amend or supersede the Property's full legal description provided herein. I. NOTICE IS HEREBY GIVEN that the undersigned trustee will, on April 17, 2015, at the hour of 11:00 a.m., at the Second Floor Entry Plaza Outside Pierce County Courthouse, 930 Tacoma Ave South, Tacoma, Washington, sell at public auction to the highest and best bidder, payable at time of sale, the real and personal property described located in Pierce, County, Washington (the "Property"), as legally described on Exhibit A attached hereto. The Property is subject to (a) that certain Deed of Trust from PREMIER BUILDERS INVESTMENTS, LLC, a Washington limited liability company, as grantor, ("Borrower"), to HILLIS CLARK MARTIN & PETERSON P.S., as trustee, to secure an obligation in favor of CONSTRUCTION OPPORTUNITY PARTNERS NO. I, LLC, as beneficiary, ("Beneficiary"), dated September 30, 2013, and recorded on September 30, 2013, under Recording No. 201309300862, records of Pierce County, Washington, (the "Deed of Trust"), and (b) the security agreement and fixture filing that is included within the Deed of Trust (the "Security Agreement"). The Deed of Trust was granted to secure a loan made to Borrower as evidenced by a promissory note (the "Note") dated September 30, 2013 in the original maximum principal amount of $161,665.00 (the "Loan"). II. No action commenced by the Beneficiary of the Deed of Trust and the secured party under the Security Agreement, or the Beneficiary's successor is now pending to seek satisfaction of the obligation in any Court by reason of the Borrower's default on the obligation secured by the Deed of Trust. III. The defaults for which this foreclosure is made are as follows: (1) Borrower's improper application of draw proceeds to pay invoices unrelated to the specific project designated for such draw proceeds, which has caused many of the Loans to be "out of balance"; (2) Failure to make the monthly payment due on May 1, 2014, and the payments thereafter due under the Loan that is secured by the Deed of Trust; and (3) Failure to pay the Loan in full on or before November 1, 2014, the "Maturity Date". The following is an itemized summary of the amounts that are now in arrears: Matured principal balance:^ $161,665.00 Interest accruing from 4/4/14 to 1/13/15:^ $21,503.33 Unpaid late charges:^ $1,500.00 Default fee:^ $1,616.65 Unpaid extension fees:^ $4,041.63 TOTAL AMOUNTS IN ARREARS:^ $190,326.61 IV. The sum owing on the obligation secured by the Deed of Trust and Security Agreement is: Principal balance, $161,665.00, together with interest as provided in the note or other instrument secured from April 1, 2014, and such other costs and fees as are due under the note or other instrument secured, and as are provided by statute. V. The Property will be sold to satisfy the expense of sale and the obligation secured by the Deed of Trust and Security Agreement as provided by statute. The sale will be made without warranty, express or implied, regarding title, possession, or encumbrances on April 17, 2015. The defaults referred to in paragraph III must be cured by April 6, 2015 (11 days before the sale) to cause a discontinuance of the sale. The sale will be discontinued and terminated if at any time before April 6, 2015 (11 days before the sale date) the default as set forth in paragraph III is cured and the Trustee's fees and costs are paid. The sale may be terminated any time after April 6, 2015 (11 days before the sale) and before the sale by the Borrower, any Guarantor (defined below), or the holder of any recorded junior lien or encumbrance paying the entire principal and interest secured by the Deed of Trust, plus costs, fees, and advances, if any, made pursuant to the terms of the obligation and/or Deed of Trust, and curing all other defaults. VI. A written notice of default was transmitted by the Beneficiary or Trustee to the Borrower and Guarantors at the following address(es): Premier Builders Investments, LLC c/o Bryce A. Mearns, Registered Agent 1905 104th Street East Tacoma, WA 98445 Premier Builders Investments, LLC 1905 104th Street East Tacoma, WA 98445 Bryce A. Mearns 1905 104th Street East Tacoma, WA 98445 Jane Doe Mearns, Unknown Spouse of Bryce A. Mearns 1905 104th Street East Tacoma, WA 98445 by both first class and certified mail on October 13, 2014, proof of which is in the possession of the Trustee; and the Borrower was personally served on October 22, 2014, 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 Trustee has possession of proof of such service or posting. VII. The Trustee whose name and address are set forth below will provide in writing to anyone requesting it, a statement of all costs and fees due at any time prior to the sale. VIII. The effect of the sale will be to deprive the Borrower and all those who hold by, through or under the Borrower of all their interest in the 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. SPECIAL NOTICE TO GUARANTORS If any of the parties receiving this notice are guarantors of the obligations referenced above, each such guarantor (individually and collectively, "Guarantor") is hereby notified that: (1) Guarantor may be liable for a deficiency judgment to the extent the sale price obtained at the trustee's sale is less than the debt secured by the Deed of Trust; (2) Guarantor 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 any trustee's sale; (3) Guarantor will have no right to redeem the Property after the trustee's sale; (4) subject to such longer periods as are provided in the Washington deed of trust act, chapter 61.24 RCW, any action brought to enforce a guaranty must be commenced within one year after the trustee's sale, or the last trustee's sale under any deed of trust granted to secure the obligations referenced above; and (5) in any action for a deficiency, Guarantor 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. XI. NOTICE TO OCCUPANTS OR TENANTS The purchaser at the trustee's sale is entitled to possession of the Property on the 20th day following the sale, as against the grantor under the Deed of Trust (the owner) and anyone having an interest junior to the Deed of Trust, including occupants who are not tenants. After the 20th day following the sale the purchaser has the right to evict occupants who are not tenants by summary proceedings under chapter 59.12 RCW. For tenant-occupied property, the purchaser shall provide a tenant with written notice in accordance with RCW 61.24.060 and the Helping Families Save Their Homes Act of 2009. XII. THIS IS AN ATTEM
PT TO COLLECT A DEBT AND ANY INFORMATION OBTAINED WILL BE USED FOR THAT PURPOSE. Sale status may be accessed at http://ts.hcmp.com. DATED this 15th day of January, 2015. HILLIS CLARK MARTIN & PETERSON P.S. By Julie B. Hamilton Trustee 1221 Second Avenue, Suite 500 Seattle, Washington 981012925 Telephone: (206) 623-1745 STATE OF WASHINGTON COUNTY OF KING) ss. I certify that I know or have satisfactory evidence that JULIE B. HAMILTON is the person who appeared before me, and said person acknowledged that she signed this instrument, on oath stated that she was authorized to execute the instrument and acknowledged it as the representative of HILLIS CLARK MARTIN & PETERSON P.S., a Washington professional services corporation, to be the free and voluntary act of such party for the uses and purposes mentioned in the instrument. GIVEN UNDER MY HAND AND OFFICIAL SEAL this 15th day of January, 2015. Printed Name: /s/Cheryl M. Koubik NOTARY PUBLIC in and for the State of Washington, residing at Kent, WA My Commission Expires June 15, 2017 Exhibit A Description of Property Lot 38, Holland Glen, a P.D.D., according to the Plat recorded under Auditor's No. 200910145003, in Pierce County, Washington. TOGETHER WITH all existing and future easements, access rights, appurtenances, privileges, licenses, hereditaments, franchises and tenements, including all water stock and water rights owned by Borrower and all minerals, oil, gas, and other commercially valuable substances that may be in, under or produced from any part of it (collectively, the "Land"); All buildings, structures, and improvements now located or later to be constructed on the Land (the "Improvements"); All real property and improvements on it, and all appurtenances, permits, plans, licenses, subdivision rights, contracts, contract rights, and other property and interests of any kind or character, including all water and sewer taps belonging to or in any way related to or appurtenant to the Land or Improvements, whether described herein or not, that may be reasonably necessary or desirable to promote the present and any reasonable future beneficial use and enjoyment of the Land and Improvements; All existing and future leases, subleases, sub-tenancies, licenses, occupancy agreements, and concessions relating to the use and enjoyment of all or any part of the Land and Improvements, written or oral, now in existence or hereafter arising, and extensions or renewals thereof, together with the right, power, and authority of Borrower to alter, modify or change the terms thereof or surrender, cancel or terminate the same, and any and all deposits, guaranties and other agreements relating to or made in connection with any of the foregoing (the "Leases"); All goods, materials, supplies, chattels, furniture, appliances, furnishings, fixtures, equipment and machinery now or later to be attached to, placed in or on, or used in connection with the use, enjoyment, occupancy or operation of all or any part of the Land and Improvements, whether stored on the Land or elsewhere, all of which shall be considered to the fullest extent of the law to be real property for purposes of the Deed of Trust; All building materials, equipment, work in process or other personal property of any kind, whether stored on the Land or elsewhere, that have been or later will be acquired for the purpose of being delivered to, incorporated into, or installed in or about the Land or Improvements; All of Borrower's interest in and to the proceeds of the Loan, whether disbursed or not; all present and future monetary deposits given by Borrower to any public or private utility with respect to utility services furnished to the Land or Improvements; and any accounts established in connection with the Loan; All income, rents, security or similar deposits, revenues, issues, royalties, profits, leases, earnings, products and proceeds of the Land or Improvements, including, without limitation, all rights to the payment of money, accounts, accounts receivable, reserves, deferred payments, refunds, cost savings, insurance or condemnation proceeds, payments and deposits, and any proceeds from the sale of any lots comprising the Land and any residences constructed thereon, and any deposits on account thereof (collectively, the "Rents, Issues and Profits"); All contracts of every kind relating to development, construction, marketing, and sale of the Land and Improvements, including, without limitation, any construction contracts and subcontracts, contracts with architects, engineers, and other service providers, supply contracts, consulting agreements, financing commitments and agreements, joint development agreements, service and maintenance agreements, marketing and listing agreements, lot reservation agreements, and purchase and sale agreements, and any other existing and future contracts of any kind relating to the Land and Improvements, together with all deposits, escrows, payments, or other proceeds thereunder, as well as all existing and future amendments, modifications, and supplements thereof (collectively, the "Contracts"); and all designs, drawings, plans, specifications, trademarks, logos, and other work product prepared or to be prepared in connection with the development, construction, marketing, and sale of the Land and Improvements, together with all existing and future amendments, modifications, and supplements thereof (collectively, the "Plans"); All insurance policies pertaining to the Property, as described herein or Borrower's operations thereon; together with all proceeds thereof and rights thereto, including: all unearned premiums returnable upon cancellation; all claims to and demands for them, of the voluntary or involuntary conversion of any of the Land, Improvements or the other Property described herein into cash or liquidated claims, including proceeds of all present and future fire, hazard or casualty insurance policies and all condemnation awards or payments now or later to be made by any public body or decree by any court of competent jurisdiction for any taking or in connection with any condemnation or eminent domain proceeding, and all causes of action and their proceeds for any damage or injury to the Land, Improvements or the other Property described herein or any part of that Property, or breach of warranty in connection with the construction of the Improvements, including causes of action arising in tort, contract, fraud or concealment of a material; Any and all personal property of any kind whatsoever, whether tangible or intangible, that is used or will be used in construction of, or is or will be placed upon or is derived from or used in any connection with the use, occupancy or enjoyment of, the Land or Improvements; All books and records pertaining to any and all of the property described above, including records stored on computer readable media, and a limited sublicense to use the computer hardware or software necessary to access such records ("Books and Records"); Any additional personal property otherwise set forth herein or listed on any UCC-1 financing statement filed to perfect Lender's security interest hereunder; All of Borrower's right, title and interest in and to any and all units, declarant rights, and any other rights relating to the Land or the Improvements, whether now existing or subsequently arising, under any and all covenants, conditions, restrictions, development agreements, laws or other agreements now existing or later enacted relating to the Land and Improvements, including, without limitation, those relating to condominiums; and All proceeds of, supporting obligations for, additions and accretions to, substitutions and replacements for, and changes in any of the property described above. March 18, April 8