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</o:shapelayout></xml><![endif]--></head><body lang=EN-US link=blue vlink=purple><div class=WordSection1><p class=MsoNormal>Hello Listmates:<o:p></o:p></p><p class=MsoNormal><o:p> </o:p></p><p class=MsoNormal>I am dealing with a proposed execution sale after entry of a judgment.<o:p></o:p></p><p class=MsoNormal><o:p> </o:p></p><p class=MsoNormal>A Promissory Note, secured by a Deed of Trust is the item that a client wants to execute upon. The amount owed on the Promissory Note is about $270,000.00, with monthly installment payments for about 32 months, at which time a full payoff of the remaining balance is due.<o:p></o:p></p><p class=MsoNormal><o:p> </o:p></p><p class=MsoNormal>(I know – Garnishment might be the better way of going, but the client does not want to have to go through the hassle of going through garnishments time after time.)<o:p></o:p></p><p class=MsoNormal><o:p> </o:p></p><p class=MsoNormal>However, after finding out about the cost of a Sheriff’s Indemnity Bond, that might be what will have to happen.<o:p></o:p></p><p class=MsoNormal><o:p> </o:p></p><p class=MsoNormal>RCW 36.28.050 appears to allow the Sheriff to “require” an indemnifying bond in cases involving the sheriff to take possession of personal property. The statute makes no mention of how much bond is required, appearing to leave that question up to the individual county sheriffs.<o:p></o:p></p><p class=MsoNormal><o:p> </o:p></p><p class=MsoNormal>In our county (Clark County), a Sheriff’s Indemnity Bond in an amount 2 times the value of the property is required. I suppose that is what our county Prosecutor’s Office has advised the Sheriff to require. <o:p></o:p></p><p class=MsoNormal><o:p> </o:p></p><p class=MsoNormal>Application has been made for a $540,000.00 bond, and the premium quotes are astounding. Two quotes have been received – one for $6,800, and the second one in excess of $10,000.<o:p></o:p></p><p class=MsoNormal><o:p> </o:p></p><p class=MsoNormal>Does anyone have experience dealing with such bonds, and, if so, is this amount of premium to be expected? If anyone has had luck dealing with a particular bonding company or insurance agent for such a product, please provide info.<o:p></o:p></p><p class=MsoNormal><o:p> </o:p></p><p class=MsoNormal>Thank you so much.<o:p></o:p></p><p class=MsoNormal><o:p> </o:p></p><p class=MsoNormal>Regards,<o:p></o:p></p><p class=MsoNormal><o:p> </o:p></p><p class=MsoNormal>Doug Bratt<o:p></o:p></p><p class=MsoNormal><o:p> </o:p></p><p class=MsoNormal><o:p> </o:p></p><p class=MsoNormal><span style='font-size:13.5pt;font-family:"Lucida Calligraphy"'>Douglas J. Bratt</span><span style='font-size:12.0pt;font-family:"Times New Roman","serif"'><o:p></o:p></span></p><p class=MsoNormal><span style='font-size:12.0pt;font-family:"Lucida Calligraphy"'>Lawyer</span><span style='font-size:12.0pt;font-family:"Times New Roman","serif"'><o:p></o:p></span></p><p class=MsoNormal><span style='font-size:12.0pt;font-family:"Times New Roman","serif"'> <o:p></o:p></span></p><p class=MsoNormal><span style='font-size:12.0pt;font-family:"Times New Roman","serif"'><img width=220 height=224 id="Picture_x0020_1" src="cid:image003.jpg@01D0367D.4233FE60" alt="Envelope scaled Foster"><o:p></o:p></span></p><p class=MsoNormal><span style='font-size:12.0pt;font-family:"Times New Roman","serif"'><o:p> </o:p></span></p><p class=MsoNormal><span style='font-size:12.0pt;font-family:"Times New Roman","serif"'>Office: (360) 213-2040 <o:p></o:p></span></p><p class=MsoNormal><span style='font-size:12.0pt;font-family:"Times New Roman","serif"'> Fax: (360) 213-2030<o:p></o:p></span></p><p class=MsoNormal><span style='font-size:12.0pt;font-family:"Times New Roman","serif"'><o:p> </o:p></span></p><p class=MsoNormal><span style='font-size:12.0pt;font-family:"Times New Roman","serif"'> <o:p></o:p></span></p><p class=MsoNormal><span style='font-size:12.0pt;font-family:"Times New Roman","serif"'><o:p> </o:p></span></p><p class=MsoNormal><span style='font-size:12.0pt;font-family:"Times New Roman","serif"'>CONFIDENTIALITY NOTICE: This email message may contain confidential or privileged information. If you have received this message by mistake, please do not review, disclose, copy, or distribute the email. Instead, please notify us immediately by replying to this message or telephoning us. Thank you.<o:p></o:p></span></p><p class=MsoNormal><span style='font-size:12.0pt;font-family:"Times New Roman","serif"'> <o:p></o:p></span></p><p class=MsoNormal><span style='font-size:12.0pt;font-family:"Times New Roman","serif"'>NOTE:</span><span style='font-size:10.0pt;font-family:"Times New Roman","serif"'> </span><span style='font-size:12.0pt;font-family:"Times New Roman","serif"'>I do not use encrypted email. Messages sent to or from my office via email are not secure and may not be protected by attorney-client privilege. This email address is not monitored at all times. If your matter is urgent, please phone my office during regular business hours.<o:p></o:p></span></p><p class=MsoNormal><span style='font-size:12.0pt;font-family:"Times New Roman","serif"'><o:p> </o:p></span></p><p class=MsoNormal><span style='font-size:12.0pt;font-family:"Times New Roman","serif"'>TAX ADVICE NOTICE: IRS Circular 230 requires us to advise you that, if this communication or any attachment contains any tax advice, the advice is not intended to be used, and cannot be used, for the purpose of avoiding federal tax penalties. A taxpayer may rely on professional advice to avoid federal tax penalties only if the advice is reflected in a comprehensive tax opinion that conforms to stringent requirements. Please contact us if you have any questions about Circular 230 or would like to discuss our preparation of an opinion that conforms to these IRS rules.<o:p></o:p></span></p><p class=MsoNormal><span style='font-size:12.0pt;font-family:"Times New Roman","serif"'><o:p> </o:p></span></p><p class=MsoNormal><o:p> </o:p></p><p class=MsoNormal><o:p> </o:p></p></div></body></html>