Re: Iron Bridge Investments I. NOTICE OF TRUSTEE'S SALE NOTICE IS HEREBY GIVEN that the undersigned trustee will on May 25, 2012 at the hour of 10:00 a.m. at the courtyard plaza outside the second floor entrance of the Pierce County Courthouse, in the City of Tacoma, State of Washington, sell atpublic auction to the highest and best bidder, payable at time of sale, the following described real property, situated in the County of Pierce, State of Washington, to-wit: LOT 3 OF PIERCE COUNTY SHORT PLAT NO. 79-670, ACCORDING TO PLAT RECORDED OCTOBER 31, 1979 IN VOLUME 38 OF SHORT PLATS AT PAGE48, AMENDED BY INSTRUMENT RECORDED UNDER RECORDING NO. 8203160260, IN PIERCE COUNTY, WASHINGTON Address known as: 4714 139th St. Ct. East, Tacoma, WA 98446. Tax Parcel No.: 0319138011. which is subject to that certain Deed of Trust dated November 13, 2008 and recorded on November 17, 2008, under Pierce County Auditor's File No.200811170308, records of Pierce County, Washington, from Iron Bridge Investments, LLC, as Grantor, to Chicago Title Insurance Company, as Trustee, to secure an obligation in favor of Christopher B. Taylor, dba C & J Enterprises, LLC, Beneficiary. McFerran, Burns & Stovall, P.S., was subsequently appointed as Successor Trustee by instrument dated November 23, 2011 and recorded under Pierce County Auditor's File No. 201111230442. The beneficial interest in which assigned by Ideation Development & Consulting, LLC under an Assignment recorded on March 24, 2009 under Auditor's File No. 200903240988. II. THERE ARE NO LEGAL ACTIONS PENDING 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 Borrower's or Grantor's default on the obligation secured by the Deed of Trust. III. DEFAULTS The default for which this foreclosure is made as follows: a. Failure to pay when due the following amounts which are now in arrears: (1) MONETARY DEFAULTS OWED TO BENEFICIARY (A) Monthly Payments (loan has matured)^$230,000.00 (B) Late Fees @ $5.00/day August 28, 2009 to February 21, 2012 = 908 days^$4,450.00 (C) Default interest @18% per annum from September 1, 2008 to August 29, 2009 @ $113.42 per day = 363 days^$41,171.46 (D) Default interest @30% per annum from August 28, 2009 to February 21, 2012 @ $189.04 per day = 908 days^$171,648.32* (E) General Property Taxes for 2011^$1,313.43 Subtotal Arrears:^$448,583.21 (2) TRUSTEE EXPENSES/FEES (ITEMIZATION) (A) Trustee Fees (estimated)^$1,500.00 (B) Title Report ^$765.10 (C) Postage (estimated)^$90.00 (D) Recording (estimated)^$70.00 (E) Publication (estimated)^$650.00 (F) Posting/Courier (estimated)^$450.00 Subtotal Costs: ^$3,525.10 Total amount due:^$452,108.31 *$189.04 per diem thereafter. b. Other Defaults/Action necessary to cure (1) Failure to pay real property taxes deliver receipt from Pierce County Treasurer showing real taxes due on the property are paid current. IV. SUM OWING ON THE OBLIGATION The sum owing on the obligation secured by the Deed of Trust is: Principal $230,000.00, together with interest as provided in the Note or other instrument secured from December 6, 2011 and such other costs and fees as are due under the Note or other instrument secured, and as are provided by statute. V. ACTS REQUIRED TO CURE DEFAULT The above described real property will be sold to satisfy the expense of sale and the obligation secured by the Deed of Trust provided by statute. The sale will be made without warranty, express or implied, regarding title, possession, or encumbrances on May 25, 2012. The default referred to in paragraph III must be cured by May 14, 2012 (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 May 14, 2012 (11 days before the sale date), the default as set forth in paragraph III cured and the Trustee's fees and costs are paid. The sale may be terminated any time after May 14, 2012 (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 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. PRIOR NOTICE OF DEFAULT TRANSMITTED A written Notice of Default was transmitted by the Beneficiary or Trustee to the Borrower and Grantor at the following addresses: Iron Bridge Investments, LLC 4714 139th St. Ct. East Tacoma, WA 98446 John Bronson (Registered Agent for Iron Bridge Investments, LLC) 5401 South 12th Street, #1603 Tacoma, WA 98465 Erich Sokoloski 10202 Pacific Avenue South Tacoma, WA 98402 Erich Sokoloski 1617 Division Avenue, Unit 10 Tacoma, WA 98402 by both first class and either registered or certified mail on the December 6, 2011, proof of which is in the possession of the Trustee; and the Borrower and Grantor Iron Bridge Investments, LLC were personally served on December 6, 2011, 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. STATEMENT OF COSTS AND FEES 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. EFFECT OF TRUSTEE'S SALE 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. RESTRAINT OF SALE BY LAWSUIT 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 twentieth (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 twentieth (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. DATED this 21st day of February 2012 McFERRAN, BURNS & STOVALL, P.S., SUCCESSOR TRUSTEE Martin Burns, Attorney at Law April 26, May 17