Re: Yu, In Sik & Myung Ja
NOTICE OF TRUSTEE’S SALE OF COMMERCIAL LOAN
PURSUANT TO THE REVISED CODE OF WASHINGTON
CHAPTER 61.24, ET SEQ.
TO: In Sik Yu Myung Ja Yu 7824 River Road E.
Puyallup, WA 98371 In Sik Yu
Myung Ja Yu
4000 W. 21st St
Los Angeles, CA 90018
In Sik Yu Myung Ja Yu 815 S. Ardmore Ave #204
Los Angeles, CA 90005 In Sik Yu
Myung Ja Yu
31716 12th Pl. SW
Federal Way, WA 98023
In Sik Yu
Myung Ja Yu
3641 Tribute Ave. Fife, WA 98424 In Sik Yu
Myung Ja Yu
10408 Polo Saddle Dr.
Bakersfield, CA 93312
TO: Other purported owners, junior lienholders or encumbrancers interested in the real property described below; and
TO: Tenants or occupants of the real property described below.
I.
NOTICE IS HEREBY GIVEN that the undersigned Trustee will, on the 4th day of December, 2020, at the hour of 10:00 o’clock A.M., at the second floor main entrance of the Pierce County-City Building, 930 Tacoma Ave., Tacoma, Washington 98402, sell at public auction to the highest and best bidder, payable at the time of sale, the following described real property, situated in Pierce County, State of Washington, to-wit:
LOT 1, PIERCE COUNTY SHORT PLAT NUMBER 8312050154, ACCORDING TO THE SHORT PLAT THEREOF RECORDED DECEMBER 5, 1983, IN PIERCE COUNTY, WASHINGTON
TOGETHER WITH AN EASEMENT FOR INGRESS, EGRESS AND UTILITIES AS DELINEATED ON SAID SHORT PLAT
Assessor’s Tax Parcel No. 042020-5-008
and which is subject to that certain deed of trust, as amended from time to time (the “Deed of Trust”) dated October 16, 2006 and recorded on October 20, 2006 under Auditor’s File No. 200610200468, records of Pierce County, Washington from In Sik Yu and Myoung Ja Yu a/k/a Myung Ja Yu, as grantors (collectively “Grantors”), to Chicago Title Insurance Company, as original Trustee, to secure an obligation in favor of Pacific International Bank, as beneficiary. Bank of Hope is the successor entity via merger of Wilshire Bancorp and BBCN Bancorp, and BBCN Bancorp was the successor by merger to Pacific International Bank. On July 22, 2019, the beneficiary appointed Turnbull & Born, PLLC as successor Trustee, pursuant to an Appointment of Successor Trustee recorded with the Pierce County Auditor on July 31, 2019, under Auditor’s File No. 201907310724. 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 the borrowers’ or Grantors’ default on the obligation secured by the Deed of Trust. III.
The default for which this foreclosure is made is as follows:
1. Failure to pay when due the following amounts which are now in arrears:
Arrearage: A. Past due payments (through 8/13/20): $ 55,731.61
B. Late charges: $ 9,940.59 C. Appraisal fees: $ 7,750.00
D. Forced-place insurance: $ 14,513.89
E. Property Tax Redemption: $ 56,703.16
F Prior Attorney’s Fees: $ 8,185.91
G. Other Fees: $ 19.07
H. Environmental Report: $ 3,900.00
Total Arrearage: $ 156,744.23
Trustee’s Expenses:
A. Title report (estimated): $ 2,000.00
B. Trustee’s Fee & Attorney fee:
$ 3,000.00
C. Statutory Mailings: $ 50.00
D. Postings & copies: $ 133.00
E. Recording costs: $ 130.00
Total Expenses: $ 5,313.00 Total Amount Past Due: $ 162,057.23
Plus additional advances, late charges, expenses and fees from August 13, 2020 to date of cure, plus any unpaid property taxes.
2. Failure to pay real property taxes related to the above-described real property.
IV.
The sum owing on the obligation secured by the Deed of Trust is: principal of $381,508.51 together with attorney’s fees, costs, and property taxes as provided in the note or other instrument secured, and such other costs and fees as are due under the note or other instrument secured, and as are provided by statute.
V.
The above-described real property will be sold to satisfy the expense of 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, or encumbrances on the 4th day of December, 2020. The defaults referred to in Paragraph III, together with any subsequent payments, late charges, property taxes, advanced costs and fees thereafter due must be cured by the 23rd day of November, 2020 (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 the 23rd day of November, 2020 (11 days before the sale date), the defaults as set forth in Paragraph III, together with any subsequent payments, late charges, property taxes, advanced costs and fees thereafter due are cured and the Trustee’s fees and costs are paid. The sale may be terminated any time after the 23rd day of November, 2020 (11 days before the sale date) and before the sale by the borrowers, Grantors, any guarantor or the holder of any recorded junior lien or encumbrance by 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 to the Grantors at the following addresses:
In Sik Yu Myung Ja Yu 7824 River Road E.
Puyallup, WA 98371 In Sik Yu
Myung Ja Yu
4000 W. 21st St
Los Angeles, CA 90018
In Sik Yu Myung Ja Yu 815 S. Ardmore Ave #204
Los Angeles, CA 90005 In Sik Yu
Myung Ja Yu
31716 12th Pl. SW
Federal Way, WA 98023
In Sik Yu
Myung Ja Yu
3641 Tribute Ave. Fife, WA 98424 In Sik Yu
Myung Ja Yu
10408 Polo Saddle Dr.
Bakersfield, CA 93312
by both first class and certified mail on the 7th day of July, 2020, proof of which is in the possession of the Trustee; and the written notice of default was posted in a conspicuous place on the real property described in Paragraph I above on July 3, 2020, 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 Grantors and all those who hold by, through or under the Grantors of all their interest in the above-described property.
IX.
Anyone having any objection to the sale on any grounds whatsoever will be afforded an opportunity to be heard as to the 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 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.
XI. NOTICE TO GUARANTORS
GUARANTORS: Please take notice that: (1) the guarantor(s) 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) the guarantor(s) 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 the trustee’s sale; (3) the 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 same debt; and (5) in any action for a deficiency, the guarantor(s) 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. DATED: August 24, 2020. TURNBULL & BORN, PLLC, Trustee
By_ /s/_ Brian M. Born, Authorized Representative
950 Pacific Ave., Suite 1050
Tacoma, WA 98402
(253) 383-7058
IDX-912482
November 3, 24, 2020
