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<p class="MsoNormal"><span style="color:#1F497D">Yes, but there was no future advance on the "Note of even date" because there was no such Note--the 2010 DOT was signed on the date of the second loan and doesn't refer to the 2006 Note, it just says "Note of
even date." There's just an alleged connection between the Note and the DOT, despite the fact that the references in the DOT don't match the Note as to amount, or due date, or anything.<o:p></o:p></span></p>
<p class="MsoNormal"><span style="color:#1F497D"><o:p> </o:p></span></p>
<p class="MsoNormal"><span style="color:#1F497D">Maybe that's my concern: How can the creditor prove that the 2006 Note and/or the 2010 undocumented loan are in fact secured by the 2010 DOT? The statute of limitations appears to hinge on proving actual connection
between the Note, the undocumented loan, and the DOT.<o:p></o:p></span></p>
<p class="MsoNormal"><span style="color:#1F497D"><o:p> </o:p></span></p>
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<p class="MsoNormal"><span style="font-size:12.0pt;color:#1F497D">Sincerely,<o:p></o:p></span></p>
<p class="MsoNormal"><span style="font-size:12.0pt;color:#1F497D"><o:p> </o:p></span></p>
<p class="MsoNormal"><span style="font-size:12.0pt;color:#1F497D">Eric<o:p></o:p></span></p>
<p class="MsoNormal"><span style="font-size:12.0pt;color:#1F497D"><o:p> </o:p></span></p>
<p class="MsoNormal"><span style="font-size:12.0pt;color:#1F497D">Eric C. Nelsen<o:p></o:p></span></p>
<p class="MsoNormal"><span style="font-size:12.0pt;color:#1F497D">SAYRE LAW OFFICES, PLLC<o:p></o:p></span></p>
<p class="MsoNormal"><span style="font-size:12.0pt;color:#1F497D">1417 31st Ave South<o:p></o:p></span></p>
<p class="MsoNormal"><span style="font-size:12.0pt;color:#1F497D">Seattle WA 98144-3909<o:p></o:p></span></p>
<p class="MsoNormal"><span style="font-size:12.0pt;color:#1F497D">phone 206-625-0092<o:p></o:p></span></p>
<p class="MsoNormal"><span style="font-size:12.0pt;color:#1F497D">fax 206-625-9040<o:p></o:p></span></p>
<p class="MsoNormal"><span style="font-size:12.0pt;color:#1F497D"><o:p> </o:p></span></p>
<p class="MsoNormal"><b><span style="font-size:12.0pt;color:red">Please Note that We Have Moved.</span></b><b><span style="font-size:12.0pt;color:#1F497D">
</span></b><span style="font-size:12.0pt;color:#1F497D">We have moved our Seattle office to Mount Baker Ridge (a small commercial community just above the I-90 tunnel).
<b>Our new address is 1417 31st Avenue South, Seattle WA 98144. </b>All other contact information remains the same.<o:p></o:p></span></p>
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<p class="MsoNormal"><span style="color:#1F497D"><o:p> </o:p></span></p>
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<p class="MsoNormal"><b><span style="font-size:10.0pt;font-family:"Tahoma","sans-serif"">From:</span></b><span style="font-size:10.0pt;font-family:"Tahoma","sans-serif""> wsbarp-bounces@lists.wsbarppt.com [mailto:wsbarp-bounces@lists.wsbarppt.com]
<b>On Behalf Of </b>Robert Ordal<br>
<b>Sent:</b> Thursday, November 03, 2016 12:58 PM<br>
<b>To:</b> WSBA Real Property Listserv<br>
<b>Subject:</b> Re: [WSBARP] Statute of Limitations on a Note and DOT<o:p></o:p></span></p>
</div>
</div>
<p class="MsoNormal"><o:p> </o:p></p>
<p class="MsoNormal"><span style="font-size:14.0pt;font-family:"Arial","sans-serif";color:#1F497D">Eric<o:p></o:p></span></p>
<p class="MsoNormal"><span style="font-size:14.0pt;font-family:"Arial","sans-serif";color:#1F497D"><o:p> </o:p></span></p>
<p class="MsoNormal"><span style="font-size:14.0pt;font-family:"Arial","sans-serif";color:#1F497D">Doesn’t the DT have the common clauses for future advances and other indebtedness?
<o:p></o:p></span></p>
<p class="MsoNormal"><span style="font-size:14.0pt;font-family:"Arial","sans-serif";color:#1F497D"><o:p> </o:p></span></p>
<p class="MsoNormal"><span style="font-size:14.0pt;font-family:"Arial","sans-serif";color:#1F497D">Bob<o:p></o:p></span></p>
<p class="MsoNormal"><a name="_MailEndCompose"></a><span style="font-size:14.0pt;font-family:"Arial","sans-serif";color:#1F497D"><o:p> </o:p></span></p>
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<p class="MsoNormal"><b>From:</b> <a href="mailto:wsbarp-bounces@lists.wsbarppt.com">
wsbarp-bounces@lists.wsbarppt.com</a> [<a href="mailto:wsbarp-bounces@lists.wsbarppt.com">mailto:wsbarp-bounces@lists.wsbarppt.com</a>]
<b>On Behalf Of </b>Eric Nelsen<br>
<b>Sent:</b> Thursday, November 03, 2016 12:36 PM<br>
<b>To:</b> WSBA Real Property Listserv <<a href="mailto:wsbarp@lists.wsbarppt.com">wsbarp@lists.wsbarppt.com</a>><br>
<b>Subject:</b> Re: [WSBARP] Statute of Limitations on a Note and DOT<o:p></o:p></p>
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<p class="MsoNormal"><o:p> </o:p></p>
<p class="MsoNormal"><span style="color:#1F497D">Re-posting this, since 4:30 PM was a lousy time to send it around the first time. Any opinions or thoughts much appreciated--<o:p></o:p></span></p>
<p class="MsoNormal"><span style="color:#1F497D"><o:p> </o:p></span></p>
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<p class="MsoNormal"><span style="font-size:12.0pt;color:#1F497D">Sincerely,<o:p></o:p></span></p>
<p class="MsoNormal"><span style="font-size:12.0pt;color:#1F497D"><o:p> </o:p></span></p>
<p class="MsoNormal"><span style="font-size:12.0pt;color:#1F497D">Eric<o:p></o:p></span></p>
<p class="MsoNormal"><span style="font-size:12.0pt;color:#1F497D"><o:p> </o:p></span></p>
<p class="MsoNormal"><span style="font-size:12.0pt;color:#1F497D">Eric C. Nelsen<o:p></o:p></span></p>
<p class="MsoNormal"><span style="font-size:12.0pt;color:#1F497D">SAYRE LAW OFFICES, PLLC<o:p></o:p></span></p>
<p class="MsoNormal"><span style="font-size:12.0pt;color:#1F497D">1417 31st Ave South<o:p></o:p></span></p>
<p class="MsoNormal"><span style="font-size:12.0pt;color:#1F497D">Seattle WA 98144-3909<o:p></o:p></span></p>
<p class="MsoNormal"><span style="font-size:12.0pt;color:#1F497D">phone 206-625-0092<o:p></o:p></span></p>
<p class="MsoNormal"><span style="font-size:12.0pt;color:#1F497D">fax 206-625-9040<o:p></o:p></span></p>
<p class="MsoNormal"><span style="font-size:12.0pt;color:#1F497D"><o:p> </o:p></span></p>
<p class="MsoNormal"><b><span style="font-size:12.0pt;color:red">Please Note that We Have Moved.</span></b><b><span style="font-size:12.0pt;color:#1F497D">
</span></b><span style="font-size:12.0pt;color:#1F497D">We have moved our Seattle office to Mount Baker Ridge (a small commercial community just above the I-90 tunnel).
<b>Our new address is 1417 31st Avenue South, Seattle WA 98144. </b>All other contact information remains the same.<o:p></o:p></span></p>
</div>
<p class="MsoNormal"><span style="color:#1F497D"><o:p> </o:p></span></p>
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<p class="MsoNormal"><b><span style="font-size:10.0pt;font-family:"Tahoma","sans-serif"">From:</span></b><span style="font-size:10.0pt;font-family:"Tahoma","sans-serif"">
<a href="mailto:wsbarp-bounces@lists.wsbarppt.com">wsbarp-bounces@lists.wsbarppt.com</a> [<a href="mailto:wsbarp-bounces@lists.wsbarppt.com">mailto:wsbarp-bounces@lists.wsbarppt.com</a>]
<b>On Behalf Of </b>Eric Nelsen<br>
<b>Sent:</b> Wednesday, November 02, 2016 4:18 PM<br>
<b>To:</b> WSBA Real Property listserve (<a href="mailto:wsbarp@lists.wsbarppt.com">wsbarp@lists.wsbarppt.com</a>)<br>
<b>Subject:</b> [WSBARP] Statute of Limitations on a Note and DOT<o:p></o:p></span></p>
</div>
</div>
<p class="MsoNormal"><o:p> </o:p></p>
<p class="MsoNormal">I love pro se legal documents. Here's a fancy one, law school exam, multiple-choice:<o:p></o:p></p>
<p class="MsoNormal"><o:p> </o:p></p>
<p class="MsoNormal">FACTS:<o:p></o:p></p>
<p class="MsoNormal"><o:p> </o:p></p>
<p class="MsoNormal"><b>Promissory Note</b> signed for a loan of <b>$10,000</b>, dated
<b>July 1, 2006</b>, no installments, no due date, <b>16.5% interest</b> "starting August 1, 2007 to February 1, 2008", no mention of security. Straight demand note--just a promise to repay. 6-year statute of limitations, BUT:<o:p></o:p></p>
<p class="MsoNormal"><o:p> </o:p></p>
<p class="MsoNormal">Lender gives an additional <b>$5,000</b> on <b>November 1, 2010</b>,
<u>no</u> Note signed, but has Borrower sign a <b>Deed of Trust</b> saying:<o:p></o:p></p>
<p class="MsoNormal" style="margin-left:.5in">"This Deed of Trust is for the purpose of securing performance of each agreement of Grantor contained in this Deed of Trust, and payment of the sum of
<b>$17,500</b> in accordance with the terms of a promissory note <b>of even date herewith</b>."<o:p></o:p></p>
<p class="MsoNormal" style="margin-left:.5in">AND<o:p></o:p></p>
<p class="MsoNormal" style="margin-left:.5in">"The entire balance of the promissory note secured by this Deed of Trust shall be due and payable in full on
<b>November 10, 2012</b>."<o:p></o:p></p>
<p class="MsoNormal"><o:p> </o:p></p>
<p class="MsoNormal">These are commercial/business loans, not personal/consumer loans.<o:p></o:p></p>
<p class="MsoNormal"><o:p> </o:p></p>
<p class="MsoNormal">Lender asserts that the inflated total of $17,500, as opposed to the principal total of $15,000, is to "add agreed interest." But Borrower is dead, so dead man's statute applies and all this must be interpreted by the written documentation--Lender
can't testify as to "adding agreed interest."<o:p></o:p></p>
<p class="MsoNormal"><o:p> </o:p></p>
<p class="MsoNormal">What is the statute of limitations as to the <b>$10,000 Note</b>?<o:p></o:p></p>
<p class="MsoNormal">(A) July 1, 2012, because execution of the Deed of Trust mentioning $15,000 does
<u>not</u> reaffirm that debt because it is not a Note of "even date"?<o:p></o:p></p>
<p class="MsoNormal">(B) November 1, 2016, because the Deed of Trust <u>did</u> reaffirm the Note, and the discrepancies in "even date" and in interest do not affect parties' intent?<o:p></o:p></p>
<p class="MsoNormal">(C) November 10, 2018, because the due on sale clause is incorporated into the Note?<o:p></o:p></p>
<p class="MsoNormal"><o:p> </o:p></p>
<p class="MsoNormal">What is the statute of limitations as to the <b>$5,000</b> loaned without any Note?<o:p></o:p></p>
<p class="MsoNormal">(A) November 1, 2013, because it is an oral promise to repay?<o:p></o:p></p>
<p class="MsoNormal">(B) November 1, 2016, because the Deed of Trust is sufficient writing to bring this loan under the written contract statute of limitations?<o:p></o:p></p>
<p class="MsoNormal">(C) November 10, 2018, because the due on sale clause relates to this loan, even though it claims to be for $17,500 rather than $5,000?<o:p></o:p></p>
<p class="MsoNormal"><o:p> </o:p></p>
<p class="MsoNormal">Anyone have some thoughts? Input and off-the-cuff opinions all appreciated.<o:p></o:p></p>
<p class="MsoNormal"><o:p> </o:p></p>
<p class="MsoNormal"><span style="font-size:12.0pt">Sincerely,<o:p></o:p></span></p>
<p class="MsoNormal"><span style="font-size:12.0pt"><o:p> </o:p></span></p>
<p class="MsoNormal"><span style="font-size:12.0pt">Eric<o:p></o:p></span></p>
<p class="MsoNormal"><span style="font-size:12.0pt"><o:p> </o:p></span></p>
<p class="MsoNormal"><span style="font-size:12.0pt">Eric C. Nelsen<o:p></o:p></span></p>
<p class="MsoNormal"><span style="font-size:12.0pt">SAYRE LAW OFFICES, PLLC<o:p></o:p></span></p>
<p class="MsoNormal"><span style="font-size:12.0pt">1417 31st Ave South<o:p></o:p></span></p>
<p class="MsoNormal"><span style="font-size:12.0pt">Seattle WA 98144-3909<o:p></o:p></span></p>
<p class="MsoNormal"><span style="font-size:12.0pt">phone 206-625-0092<o:p></o:p></span></p>
<p class="MsoNormal"><span style="font-size:12.0pt">fax 206-625-9040<o:p></o:p></span></p>
<p class="MsoNormal"><span style="font-size:12.0pt"><o:p> </o:p></span></p>
<p class="MsoNormal"><b><span style="font-size:12.0pt;color:red">Please Note that We Have Moved.</span></b><b><span style="font-size:12.0pt">
</span></b><span style="font-size:12.0pt">We have moved our Seattle office to Mount Baker Ridge (a small commercial community just above the I-90 tunnel).
<b>Our new address is 1417 31st Avenue South, Seattle WA 98144. </b>All other contact information remains the same.<o:p></o:p></span></p>
<p class="MsoNormal"><o:p> </o:p></p>
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