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LLC v. Scribner

United States District Court, D. Oregon, Portland Division

December 10, 2019

C6 CAPITAL FUNDING, LLC, a Utah limited liability company, Plaintiff,
v.
KELVIN B. SCRIBNER and LYNETTE J. SCRIBNER, husband and wife, Washington residents, Defendants.

          STIPULATION AND PRELIMINARY INJUNCTION ORDER

          MICHAEL W. MOSMAN Chief United States District Judge

         STIPULATION

         Plaintiff C6 Capital Funding, LLC ("C6 Capital") and Defendants Kelvin and Lynette Scribner stipulate as follows:

         A. Defendants own real property in Hood River, Oregon commonly known as 1280 Alameda Road, Hood River, Oregon 97031 (the "Real Property"), which is legally described on Appendix A of this Order. Defendant Kelvin Scribner represents he qualifies for an Oregon homestead exemption for the Real Property.

         B. Defendants seek to sell the Real Property to Bill & Jill Gray 2016 Trust or its assigns ("Buyer") for approximately $1, 500, 000.00 (such sale, the "Sale"). Defendants believe that after payment of encumbrances against the Real Property and closing costs, there will be approximately $20, 000 in remaining proceeds from the Sale.

         This Stipulation provides the terms under which C6 consents to the Sale and the distribution of its proceeds.

         ORDER

         1. Defendants are authorized to sell the Real Property, and must distribute the Sale proceeds at closing through escrow in the following order:

a. To First Interstate Bank to pay for any Deeds of Trust recorded against the Real Property for which First Interstate Bank is a beneficiary;
b. To tax encumbrances against the Real Property, if any;
c. To customary sale and closing costs;
d. To Defendants in an amount of no more than $40, 000; e. The remaining proceeds, if any, to C6.

         2. Other than the Sale, Defendants shall not transfer any interest in the Real Property by sale, lease, assignment, encumbrance, pledge, grant of security interest, or other disposition (collectively, a "Transfer") unless there is (i) a further Order of this Court authorizing the Transfer; (ii) Defendants obtain written consent of Plaintiffs counsel to a Transfer; or (iii) the Transfer pays in full all encumbrances identified in Paragraph 1(a) and 1(b) above and sale proceeds are distributed as identified in Paragraph 1.

         3. Defendants shall not impair the value of the Real Property either by acts of destruction or by failure to care for ...


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