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both, parties fail or refuse to execute a mortgage in
favor of my client, I have been instructed to commence
an appropriate action in Multnomah County Circuit Court
to obtain and foreclose its interest in the Property so
as to secure its loan to the borrower.
Please advise me, within seven days of the date of
this letter, whether your respective client will agree
to execute a standard form of real property mortgage in
favor of my client. If I do not have such commitment
within this time, I will have no alternative but to
declare the Loan Agreement in default and commence a
lawsuit to enforce my client’s rights.
Mr. Seymour never spoke with the solicitors, Mr. Seki, or anyone
else from NCPL. On June 1, 2001, Mr. Seymour mailed and faxed a
letter to the solicitors stating:
Dear Sir:
I have now had a telephone conference with Mr.
Eric Larson, attorney for Mr. Ronald Talmage in the
divorce proceeding.
Mr. Larson first asked me whether I would be
filing a lawsuit on behalf of New Century Properties
Limited. I told him that I was prepared to file a
lawsuit if I had to; however, I would prefer that Mrs.
Talmage agree to execute the mortgage without the
necessity of a lawsuit.
Mr. Larson advised me that the divorce case was
set for a settlement conference with the judge next
Wednesday, June 6, 2001. He told me that the threat of
a lawsuit by New Century Properties Limited would
probably help settle this divorce case. He also told
me that he hoped that the terms of the settlement would
include an award of the Corbett property to his client.
If that were to happen, his client would cooperate and
sign a mortgage. This would certainly facilitate the
resolution of this matter.
Mr. Larson promised to advise me of the results of
the settlement conference. I intend to serve Notice of
Default of the Loan Agreement terms on Tuesday, June 5,
2001, unless I have agreements from both parties that
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