TRUSTEE’S NOTICE OF SALE
Reference is made to that certain Trust Deed (the “Trust Deed”) made by Colima Apartments LLC, an Oregon limited liability company, (the “Grantor”), to First American Title Insurance Company, as the trustee, in favor of BC Retirement Plan as beneficiary, dated January 5, 2024, and recorded on January 9, 2024, as Instrument No. 2024-001073, in the Official Records of Clackamas County, Oregon, covering the Grantor’s interest in the following described real property situated in the above-mentioned county and state, to-wit: LEGAL DESCRIPTION PARCEL I: Parcel 1, Partition Plat No. 2000-007, in the County of Clackamas and State of Oregon. PARCEL II: Part of the B.B. Jackson Donation Land Claim in Section 7, Township 5 South, Range 2 East of the Willamette Meridian, in the City of Molalla, County of Clackamas and State of Oregon, described as follows: Beginning in the Center Line of th Old Territorial Road, South 19° 55’ West 203 feet from the intersection of said center line with the north line of said Jackson Donation Land Claim; thence south 81° 30’ east 287.25 feet; thence south 19° 55’ west 117 feet; thence north 81° 30’ west 287.25 feet to the center line of the road; thence north 19° 55’ east 117 feet to the point of beginning. Except therefrom that portion conveyed to the city of Molalla recorded January 18, 2005, recorder’s fee no. 2005-004869. Commonly known as 13001 S. Cromptons Ln Bldg 1, Molalla, OR 97038. APN: 01089351 and 01089324 The current trustee under the Trust Deed is Christopher R. Ambrose (the “Trustee”). The undersigned hereby certifies that no assignments of the Trust Deed by the Trustee or by the Beneficiary and no appointments of a successor trustee have been made, except the foregoing and as are or will be recorded in the Records of the county or counties in which the Property is situated. Further, no action has been instituted to recover the debt, or any part thereof, now remaining secured by the Trust Deed, or, if such action has been instituted, such action has been dismissed except as permitted by ORS 86.735(4). Both the Beneficiary and the Trustee have elected to sell the Property to satisfy the obligations secured by said Trust Deed and a Notice of Default has been recorded pursuant to Oregon Revised Statutes 86.752(3); the default for which the foreclosure is made is Grantor’s failure to pay when due the following sums, together with all subsequent sums advanced by Beneficiary pursuant to the terms and conditions of the Trust Deed and the Security Instruments, or as a result of the following action or inaction: 1. Failing to provide monthly payments commencing July 1, 2024 through and including December 1, 2024. 2. Failing to provide the final payoff by the Maturity Date of January 1, 2025. 3. Failing to provide the late charges associated with the failure to timely provide the monthly installments and to provide the final payoff by the Maturity Date. 4. Failing to provide insurance for the Subject Properties. 5. Failing to provide payment of real property taxes. By reason of the default, the Beneficiary has declared all sums owing on the obligation secured by the Trust Deed immediately due and payable, those sums being the following estimated amounts, to-wit: 1. Unpaid Principal: $ 1,350,181.44; 2. Accrued and Unpaid Interest (from and including June 1, 2024 through and including March 24, 2025 ($675.09/day): $ 65,351.79; 3. Trustee’s Sale Guarantee Report: $ 4,750.00; 4. Late Charges for Monthly Installments ($1,819.20/mo. for June 1, 2024 through December 1, 2024): $ 12,734.40; 5. Late Charge for Final Maturity Date Payment (1/1/25): $ 86,600.00; 6. Paid Insurance: $TBD; 7. Penalty (Note, Sec. 1(e)): $ 86,600.00; 8. Foreclosure Legal Fees and Costs (Present Foreclosure): $2,500.00; 9. Subtotal: $ 1,608,717.63; 10. Credits: (A credit for the 12/19/24 partial payment is credited in number 1 above.) ($1,700.00); 11. Total: $ 1,607,017.63; 12. Plus title expenses, trustee’s fees, recording fees, and attorneys’ fees incurred herein by reason of said default and any further sums advanced by the Beneficiary for the protection of the Property and its interest therein. WHEREFORE, notice hereby is given that the undersigned Trustee will on August 7, 2025, at the hour of 11:00 o’clock a.m., in accord with the standard of time established by ORS 187.110, at the following place: the front outside entrance to the Clackamas County Courthouse, located at 1000 Courthouse Road, Oregon City, OR 97045, sell at public auction to the highest bidder for cash the interest in the Property and which the Grantor had or had power to convey at the time of the execution by Grantor of the said Trust Deed, together with any interest which the Grantor or Grantor’s successors in interest acquired after the execution of said Trust Deed, to satisfy the foregoing obligations thereby secured and the costs and expenses of sale, including a reasonable charge by the Trustee. Notice is further given that any person named in ORS 86.778 has the right, at any time prior to five days before the date last set for the sale, to have this foreclosure proceeding dismissed and the Trust Deed reinstated by payment to the Beneficiary of the entire amount then due (other than such portion of the principal as would not then be due had no default occurred) and by curing any other default complained of herein that is capable of being cured by tendering the performance required under the obligation or Trust Deed, and in addition to paying said sums or tendering the performance necessary to cure the default, by paying all costs and expenses actually incurred in enforcing the obligation and Trust Deed, together with Trustee’s and attorney’s fees not exceeding the amounts provided by said ORS 86.778, if applicable. In construing this notice, the singular includes the plural, the word “Grantor” includes any successor in interest to the Grantor as well as any other person owing an obligation, the performance of which is secured by the Trust Deed, and the words “trustee” and “beneficiary” include their respective successors in interest, if any. ORS SECTION 86.771(9) Notice: Without limiting the trustee’s disclaimer of representations or warranties, Oregon law requires the trustee to state in this notice that some residential property sold at a trustee’s sale may have been used in manufacturing methamphetamines, the chemical components of which are known to be toxic. Prospective purchasers of residential property should be aware of this potential danger before deciding to place a bid for this property at the trustee’s sale. If the Trustee is unable to convey title for any reason, the successful bidder’s sole and exclusive remedy shall be the return of monies paid to the Trustee, and the successful bidder shall have no further recourse. Dated: March 28, 2025 Successor Trustee: /s/ Christopher R. Ambrose. CONTACT INFORMATION FOR TRUSTEE’S COUNSEL: Ambrose Law Group LLC, Attn.: Christopher R. Ambrose, 1133 NW Wall Street, Suite 104, Bend, OR, 97703, Phone: 541.617.0707, Email: crambrose@ambroselaw.com
Published June 17, 24, July 1 & 8, 2025.
BT361979