FORM 64-3 COMPLAINT FOR WASTE BY MORTGAGEE OR TRUST-DEED BENEFICIARY

• Jurisdiction: Oregon

Form 64-3 Complaint for Waste by Mortgagee or Trust-Deed Beneficiary

IN THE CIRCUIT COURT OF THE STATE OF OREGON FOR THE COUNTY OF___

__________ Plaintiff,

v.

__________ Defendants.

Case No.___

COMPLAINT

(CIVIL ACTION FOR INJUNCTION)

CLAIM NOT SUBJECT TO MANDATORY ARBITRATION

Plaintiff alleges:

1.

Defendant John Smith is indebted $30,000 to plaintiff Roy Brown on a promissory note secured by a mortgage on real property in Lane County, Oregon, as described in Exhibit 1 and incorporated in this complaint by reference.

2.

A stand of mature and merchantable timber is located on the real property. The mortgage provides: "Mortgagor agrees not to permit or commit any strip or waste of the real property."

3.

Defendant Smith engaged defendant Mary Logger to fell the timber and sell it to various mills for its lumber value. Some timber on the property has been felled and defendants have refused plaintiff's demand that such activities cease.

4.

The value of the property, if the timber is felled and removed to lumber mills, will be substantially less than the amount of the debt owed by defendant Smith to plaintiff.

5.

Unless enjoined, defendants will continue to cause the timber to be felled and to dispose of the timber, thereby impairing plaintiff's security for the promissory note.

6.

Plaintiff has no adequate...