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<p class="MsoNormal">That is how I thought it would work, but the recent decision in Centrum v. Union Bank, 406 P.3d 1192 (Div. 1 12-18-2017) has me thinking otherwise.
<o:p></o:p></p>
<p class="MsoNormal"><o:p> </o:p></p>
<p class="MsoNormal">It seems to say if a beneficiary of a subordinate lien forecloses on that position, they lose the right to cure any default in a senior lien as provided by statute because they are no longer a beneficiary of a subordinate lien.<a name="_MailEndCompose">
The promissory note is a personal obligation upon the debtor and the holder does not have to allow the junior to cure the default.
<o:p></o:p></a></p>
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<p class="MsoNormal"><b>From:</b> wsbarp-bounces@lists.wsbarppt.com [mailto:wsbarp-bounces@lists.wsbarppt.com]
<b>On Behalf Of </b>Gregory L. Ursich<br>
<b>Sent:</b> Thursday, January 11, 2018 12:34 PM<br>
<b>To:</b> 'WSBA Real Property Listserv' <wsbarp@lists.wsbarppt.com><br>
<b>Subject:</b> Re: [WSBARP] Junior DOT Foreclosure<o:p></o:p></p>
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<p class="MsoNormal"><o:p> </o:p></p>
<p class="MsoNormal"><span style="color:black">Matt: why not foreclose on your second position, take ownership and then payoff the first? As the new owner, the first position lender will have to deal with you. -Greg<o:p></o:p></span></p>
<p class="MsoNormal"><span style="color:black"><o:p> </o:p></span></p>
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<p class="MsoNormal"><span style="color:black"><img width="105" height="54" style="width:1.0937in;height:.5625in" id="Picture_x0020_2" src="cid:image001.jpg@01D38ADE.CFAE8450" alt="ibdr2"><o:p></o:p></span></p>
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<p class="MsoNormal"><b><span style="font-size:10.0pt;color:black">Gregory L. Ursich
</span></b><span style="font-size:10.0pt;color:black">| Shareholder<o:p></o:p></span></p>
<p class="MsoNormal"><span style="font-size:9.0pt;color:black">Skyline Tower, Suite 1500 | 10900 NE 4<sup>th</sup> Street | Bellevue, WA 98004<o:p></o:p></span></p>
<p class="MsoNormal" style="margin-left:-4.15pt"><span style="font-size:9.0pt;color:black">P: 425.450.4258 | F: 425.635.7720<o:p></o:p></span></p>
<p class="MsoNormal"><span style="color:black"><a href="http://www.insleebest.com/uploads/vcards/gursich.vcf"><span style="font-size:9.0pt;color:blue">vCard</span></a></span><span style="font-size:9.0pt;color:black"> |
</span><span style="color:black"><a href="http://www.insleebest.com/"><span style="font-size:9.0pt;color:blue">website</span></a></span><span style="font-size:9.0pt;color:black"> |
</span><u><span style="font-size:9.0pt;color:blue"><a href="mailto:gursich@insleebest.com"><span style="color:blue">gursich@insleebest.com</span></a></span></u><span style="color:black"><o:p></o:p></span></p>
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<p class="MsoNormal"><span style="font-size:10.0pt;color:black">This electronic mail transmission is privileged and confidential and is intended only for the review of the party to whom it is addressed. If you have received this transmission in error, please
immediately return it to the sender. Unintended transmission shall not constitute waiver of the attorney-client or any other privilege.<o:p></o:p></span></p>
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<p class="MsoNormal"><span style="color:black"><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>Matt Johnson<br>
<b>Sent:</b> Thursday, January 11, 2018 12:21 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] Junior DOT Foreclosure<o:p></o:p></p>
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<p class="MsoNormal"><o:p> </o:p></p>
<p class="MsoNormal">junior<o:p></o:p></p>
<p class="MsoNormal"><o:p> </o:p></p>
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<div style="border:none;border-top:solid #E1E1E1 1.0pt;padding:3.0pt 0in 0in 0in">
<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>John M. Riley III<br>
<b>Sent:</b> Thursday, January 11, 2018 11:28 AM<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] Junior DOT Foreclosure<o:p></o:p></p>
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<p class="MsoNormal"><o:p> </o:p></p>
<p class="MsoNormal"><span style="color:#1F497D">Do you represent the junior lienholder or a third party interested in the property?
<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">John Riley<o:p></o:p></span></p>
<p class="MsoNormal"><span style="color:#1F497D"><o:p> </o:p></span></p>
<div>
<p><strong><i><span style="font-size:8.0pt;font-family:"Arial",sans-serif;color:red">**Please Note: The offices of Witherspoon Kelley will be closed on Monday, January 15th. Thank you.</span></i></strong><span style="font-size:10.0pt;font-family:"Arial",sans-serif"><o:p></o:p></span></p>
</div>
<p><strong><span style="font-size:10.0pt;font-family:"Arial",sans-serif">John M. Riley III</span></strong><span style="font-size:10.0pt;font-family:"Arial",sans-serif"><br>
Attorney | Witherspoon • Kelley<br>
<a href="mailto:JMR@witherspoonkelley.com">JMR@witherspoonkelley.com</a> | <a href="http://www.witherspoonkelley.com/john-riley-1" title="Attorney Profile">
Attorney Profile </a>| <a href="http://www.witherspoonkelley.com/s/jmr.vcf">vCard</a><o:p></o:p></span></p>
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<p align="right" style="text-align:right"><span style="font-size:10.0pt;font-family:"Arial",sans-serif;color:white">422 W. Riverside Ave, Ste 1100<br>
Spokane, WA 99201<br>
(509) 624-5265 (office)<br>
(509) 458-2728 (fax)<br>
witherspoonkelley.com</span><span style="font-size:10.0pt;font-family:"Arial",sans-serif"><o:p></o:p></span></p>
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<p><span style="font-size:8.0pt;font-family:"Arial",sans-serif;color:#828282"><br>
<em><span style="font-family:"Arial",sans-serif">Confidentiality Notice: The information contained in this email and any accompanying attachment(s) is intended only for the use of the intended recipient and may be confidential and/or privileged. If any reader
of this communication is not the intended recipient, unauthorized use, disclosure or copying is strictly prohibited, and may be unlawful. If you have received this communication in error, please immediately notify the sender by return email, and delete the
original message and all copies from your system. Thank you.</span></em></span><span style="font-size:10.0pt;font-family:"Arial",sans-serif"><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>Matt Johnson<br>
<b>Sent:</b> Thursday, January 11, 2018 11:02 AM<br>
<b>To:</b> <a href="mailto:wsbarp@lists.wsbarppt.com">wsbarp@lists.wsbarppt.com</a><br>
<b>Subject:</b> [WSBARP] Junior DOT Foreclosure<o:p></o:p></span></p>
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<p class="MsoNormal"><o:p> </o:p></p>
<p class="MsoNormal">If a first place DOT won’t sell there position and refuses to foreclose even though they are technically in default. There is ample equity and income to satisfy both debts. The debtor has completely aborted its obligations under the junior
lienholder’s note. <o:p></o:p></p>
<p class="MsoNormal"><o:p> </o:p></p>
<p class="MsoNormal">Is there any way to force a first place lienholder’s interest into a foreclosure or execution proceeding?
<o:p></o:p></p>
<p class="MsoNormal"><o:p> </o:p></p>
<p class="MsoNormal">I do not see any obvious way to do this through foreclosure either non-judicial or judicially.
<o:p></o:p></p>
<p class="MsoNormal"><o:p> </o:p></p>
<p class="MsoNormal">If we obtain money judgment directly on the obligation, could we execute on the whole property satisfying creditors according to priority? Perhaps appoint a receiver?
<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" style="background:white"><b><span style="font-size:12.0pt;color:#1F497D">Matthew R. Johnson | Attorney at Law<o:p></o:p></span></b></p>
<p class="MsoNormal" style="background:white"><b><span style="font-size:12.0pt;color:#1F497D"><a href="https://gravislaw.acuityscheduling.com/"><span style="font-weight:normal">Schedule an Appointment</span></a></span></b><span style="font-size:12.0pt;color:#222222"><o:p></o:p></span></p>
<p class="MsoNormal" style="background:white"><span style="color:#1F497D">Partner - Gravis Law, PLLC<o:p></o:p></span></p>
<p class="MsoNormal" style="background:white"><span style="color:#1F497D">P.O. Box 182 | 350 E. Main St.
<o:p></o:p></span></p>
<p class="MsoNormal" style="background:white"><span style="color:#1F497D">Dayton, WA 99328<o:p></o:p></span></p>
<p class="MsoNormal" style="background:white"><span style="color:#1F497D">O-(509) 382-2030<o:p></o:p></span></p>
<p class="MsoNormal" style="background:white"><span style="color:#1F497D">F-(866) 419-9269<br>
</span><u><span style="color:#0563C1"><a href="https://www.gravislaw.com/" target="_blank"><span style="color:blue">Website </span></a></span></u><span style="color:#1F497D">- <a href="https://www.linkedin.com/pub/matthew-r-johnson/2b/997/87a" target="_blank">LinkedIn</a><o:p></o:p></span></p>
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<p class="MsoNormal" style="background:white"><span style="color:#1F497D">NOTICE: This email (including any attachments) is covered by the Electronic Communications Privacy Act (EPCA), 18 U.S.C., Sec. 2510 - 2522, is confidential and privileged. This email
is solely for the personal and confidential use of the recipient(s) named above. Receipt by anyone other than the individual recipient(s) is NOT a waiver of attorney-client privilege. Any violation of the ECPA is subject to the penalties stated therein.
If you have received this message in error, please notify me immediately by reply e-mail to <a href="mailto:matt@gravislaw.com">matt@gravislaw.com</a> and immediately delete the original message.</span><span style="color:#222222"><o:p></o:p></span></p>
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