United States District Court, D. Oregon, Portland Division
C6 CAPITAL FUNDING, LLC, a Utah limited liability company, Plaintiff,
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
C6 Capital Funding, LLC ("C6 Capital") and
Defendants Kelvin and Lynette Scribner stipulate as follows:
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.
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.
Stipulation provides the terms under which C6 consents to the
Sale and the distribution of its proceeds.
Defendants are authorized to sell the Real Property, and must
distribute the Sale proceeds at closing through escrow in the
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.
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
Defendants shall not impair the value of the Real Property
either by acts of destruction or by failure to care for ...