Re: FRANKLIN AID PROPCO LLC
NOTICE OF TRUSTEE’S SALE OF COMMERCIAL LOAN
Grantor: FRANKLIN AID PROPCO LLC
Current beneficiary of the Deed of Trust: FANNIE MAE
Current trustee of the Deed of Trust: NATHAN G. SMITH, ESQ.
Current mortgage servicer for the Deed of Trust: KEYBANK NATIONAL ASSOCIATION
Reference number of the Deed of Trust: 201612230644
Parcel Number(s): 052-01-93203
I. NOTICE IS HEREBY GIVEN that- the undersigned Trustee, Nathan G. Smith, Esq. will on January 26, 2024 at 9:00 AM at the 2nd floor entry plaza outside the County Courthouse, 930 Tacoma Avenue South, Tacoma, WA 98402 sell at public auction to the highest and best bidder, payable at the time of sale (the “Sale”), the following described real property, situated in the County of Pierce, State of Washington, to-wit:
PARCEL D OF BOUNDARY LINE ADJUSTMENT RECORDED JUNE 27, 1997 UNDER RECORDING NO. 9706270355 AND CORRECTED BY AFFIDAVITS OF MINOR CORRECTION OF SURVEY RECORDED AUGUST 18, 1997 AND JUNE 29, 1998 UNDER RECORDING NOS. 9708180308 AND 9806290401, RECORDS OF PIERCE COUNTY, WASHINGTON.
APN: 052-01-93203
Commonly known as:
5713 Parker Road, E
Sumner, Washington 98390
which is subject to that certain Multifamily Deed of Trust, Assignment of Leases And Rents, Security Agreement and Fixture Filing dated December 22, 2016, recorded on December 23, 2016 as Instrument No. 201612230644 in the records of Pierce County, Washington (the “Deed of Trust”), from FRANKLIN AID PROPCO LLC, A Delaware limited liability company, as Grantor, to FIRST AMERICAN TITLE INSURANCE COMPANY, as Trustee to secure an obligation in favor of KeyBank National Association, beneficiary of the security instrument, its successors and assigns, as Beneficiary. The beneficial interest in the Deed of Trust was assigned by KeyBank National Association to Fannie Mae, under an Assignment of Multifamily Deed of Trust, Assignment of Leases and Rents, Security Agreement Fixture Filing recorded on December 23, 2016, at Instrument No. 201612330699 in the records of Pierce County, Washington.
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 Franklin Aid Propco LLC’s default on the obligation secured by the Deed of Trust.
III. The defaults for which this foreclosure is made is the failure to pay principal and interest when due.
IV. The sums currently due and owing on the obligations secured by the Deed of Trust (without regard to acceleration), together with the sums on the obligations secured by the Deed of Trust that are estimated to be due and owing on the January 15, 2024 (the 11th day before the Sale) are set forth below:
As of the Date As of the 11th Day
Of this Notice Before the Sale
Delinquent Principal and Interest
$8,754,445.54 $11,959,404.10
Attorneys’ Fees
$16,071.00 $16,071.00
Title Fees/Costs
$16,053.51 $16,053.51
Total
$8,786,570.05 $11,991,528.61
V. The above-described real property will be sold to satisfy the expense of the Sale and the obligation secured by the Deed of Trust as provided by statute. The Sale will be made without warranty, express or implied, regarding title, possession, of encumbrances on January 26, 2024. The default(s) referred to in Paragraphs III and IV must be cured by January 15, 2024, the 11th day before the Sale to cause a discontinuance of the Sale. The Sale will be discontinued and terminated if at any time before January 15, 2024 (11 days before the sale date) the defaults as set forth in Paragraphs III and IV are cured and the Trustee fees and costs are paid. Payment must be in cash or with cashiers or certified checks from a State or federally chartered bank. The Sale may be terminated any time after the January 15, 2024 (11 days before the sale date) and before the sale, by Franklin Aid Propco LLC, as Borrower or Grantor 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 Trustee to Franklin Aid Propco LLC as Borrower and Grantor at the following address:
NAME ADDRESS FRANKLIN AID PROPCO LLC
330 N. Wabash, Suite 3700
Chicago, Illinois 60611
by both first class and certified mail on September 1, 2023, proof of which is in the possession of the Trustee; and Franklin Aid Propco LLC, as Borrower and as Grantor, was personally served on September 5, 2023, with said written Notice of Default and the Trustee has possession of proof of such service.
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 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 objections to this 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.
DATED: __________
NATHAN G. SMITH, ESQ.,
as Trustee
Nathan G. Smith, Esq.
Kutak Rock LLP
510 W Riverside Ave, Suite 800
Spokane, WA 99201
Trustee Phone No.
(509) 747-4040 Trustee Fax No: (509) 747-4545
STATE OFWASHINGTON )) ss.
COUNTY OF SPOKANE )
I certify that I know or have satisfactory evidence that Nathan G. Smith is the person who appeared before me, and said person acknowledged that he signed this instrument, on oath stated that he was authorized to execute the instrument and acknowledged it to be the free and voluntary act of such party for the use and purposes mentioned in the instrument.
Dated:
NOTARY PUBLIC in and for the State of Washington, residing at _____________________
My commission expires
_____________________
IDX-988089
December 22, 2023, January 12, 2024
