HomeMy WebLinkAboutCAG2001-0441 - Original - Michael Eisenman - Sale of Austin Property 400 N Alvord - 07/30/2001 07/24/01 TUE 12 03 FAX 2538520306 REMAX PERFORMANCE PLUS 002
NVVMLS Form 25 ®Copyright 2001
Vacant Land Purchase 8 Sale Northwest Multiple Listing Service
Revised D40 ALL RIGHTS RESERVED
Pagel of VACANT LAND REAL ESTATE PURCHASE AND SALE AGREEMENT
SPECIFIC TERMS
1. Date: July 22 2001 MLS No • 21022262
z. Buyer: Michael Eisenmau, single individual
3. Seller CITY OF Y,]T'
4. Property Tax Parcel Nos. 1598600280 ( - _ King County)
Street Address 4XX ALVORD Kent Washington 9V31
Legal Descnption TRC we -5 i— co ft- y ' Nbr lie) {r �-F �T 3 g(Ccv aF C '='z Vic o
add r Zee. Volk• f 4 j t_""j 7 Lap,
6, Purchase Pri e. $40,000 00 A,12 C GC
6. Earnest Money. (To be held bySelling Broker W] Closing Agent)
Personal Check Y knet IV-
Note
Other( )
7. Default: (check only one) W] Forfeiture of Eamest Money Seller's
Election off Remedies
8 Title InsuranoeCompany: Ee-( l:L7 /*L r rT4G r 6SCr&.J `t
8. Closing AgenL• �Z a qualified closing agent o Buyer's choice
10. Closing Date. 08/14/2001
11. Possession Date 7 on Closing n calendar days all Closing ❑
12. offer Expirabon Date. 08/01/2001
13. Counteroffer Expiration Date:
14 Addenda: 22A(Fmeacmg) 34(Addendum)
16. Agency Disclosure. Selling Licensee represents V Buyer ❑Seller ❑both parties neither party
Listing Agent represents ® Seller ❑ both Parties
16. Subdivision: The Property ❑ Is subdivided n must be subdivided on or before
is not legally required to be subdivided
17_ ,Feasibility C �
oon genoy Expiration Date, ® 10 days after mutual accepbence
Buye s Si"Wre . Date Seiler' gnaWre Doe
Buyer's S,Wuturc Date Sellers Signature J� Dale
"5-7ZZ � —
W, a Mrfrma -Seller's AdrYe16
" y Lcic� C(C/t�S �P KENI' - —
city et. a ap " stain.Zip
360-224-0106 206-216.2094
Phone Pax Phone Fax
�� c� ',(�J ec1 �(�yeW���ie� .
Buyers E-mail r seller's Email Address
Preview Properties, Inc 7430 RE/Max Realty South 3284
Selling sinker MLS Ofex9 No U Wooer
aling Wor MLS Oiriae No
William P. Goold Jon W Ruth�7
sailing Uce nsee(Print) Usilty Agent(Pn
425-348-9200 425-347-7762 _ -425-432-4414 425-432-4417
Phone Fax Phone FAX
07 /24/01 TUE 12 03 FAX 2538520306 REMAX PERFORMANCE PLUS Z 003
NWMLS Farm 25 ®Gepyrght 2701
Vacant Land Purchase 8 Sale Northwest Multiple Listing Service
Revved 4KYI ALL RIGHTS RESERVED
Pege2of4 VACANT LAND REAL ESTATE PURCHASE AND SALE AGREEMENT
GENERAL TERMS
(continued)
a. Purchase Price. Buyer agrees to pay to Sailer the Purchase Price, including the Earnest Money, In ®sh at Closing, 1
unless otherwise specified in this Agreement Buyer represents that Buyer has sufficient funds to close this sale in 2
accordance with this Agreement and is not relying on any contingent source of funds or gifts, accept to the extent 3
otherwise specified in this Agreement 4
b. Earnest Money Buyer agrees to deliver the Earnest Money within 2 days after mutual acceptance of this Agreement 5
Selling Licensee will deposit any check to be held by Selling Broker as Earnest Money within 3 days after receipt or 8
mutual acceptance, whichever occurs later If the Earnest Money Is hold by Selling Broker and is over$10,000 00 It 7
shall be deposited into an interest bearing trust account in Selling Broker's name provided that Buyer completes an 8
IRS Form W-9 Interest, if any, after deduction of bank charges and fees, will be paid to Buyer Buyer agrees to 9
reimburse Selling Broker for bank charges and fees in excess of the interest earned, If any If the Earnest Money 10
held by Selling Broker is over$10,000 00 Buyer has the option to require Selling Broker to deposit the Eamest 11
Money into the Housing Trust Fund Account, with the interest paid to the State Treasurer, if both Seller and Buyer so 12
agree in writing If the Buyer does not complete an IRS Form W-9 before Selling Broker must deposit the Earned 13
Money or the Earnest Money Is$10,000 00 or less, the Earnest Money shall be deposited Into the Housing Trust 14
Fund Account Selling Broker may transfer the Earnest Money to Closing Agent Buyer agrees to pay financing and 15
purchase costs incurred by Buyer If all or part of the Earnest Money Is to be refunded to Buyer and any such costs 16
remain unpaid, the Selling Broker or Closing Agent may deduct and pay thorn therefrom 17
c. Condition of Title. Buyer and Sailer authorize Selling Licensee, Listing Agent or Closing Agent to insert, attach or 18
correct the Legal Descnpbon of the Property Unless otherwise specified in this Agreement, title to the Property shall 19
be marketable at Closing The following shall not cause the title to be unmarketable rights, reServatlons, covenants, 20
conditions and restrictions, presently of record and general to the area, easements and encroachments, not materially 21
affecting the value of or unduly InWoring with Buyers reasonable use of the Properly; and reserved oil and/or mining 22
rights Monetary encumbrances not assumed by Buyer shall be paid by Sailer on or before Closing Title shall be 23
conveyed by a Statutory Warranty Deed If this Agreement is for conveyance of a buyer's Interest in a Real Estate 24
Contract,the Statutory Warranty Deed shall include a buyer's assignment of the contract sufficient to convey after 25
acquired title If the Property has been short platted, the Short Plot number Is In the Legal Description 26
d. Title Insurance. Seller authorizes Buyer's lender or Closing Agent, at Seller's expense, to apply for a standard form 27
owners policy of title insurance, with homeowner's additional protection and inflation protection endorsements if avail- 28
able at no additional cost,from the Title Insurance Company The Title Insurance Company is to send a copy of the 29
preliminary commitment to both Listing Agent and Selling Licensee The preliminary commitment, and the tiffs policy 30
to be issued, shall contain no excepbons other than the General Exclusions and Exceptions In said standard form and 31
Special Exceptions consistent with the Condition of Title herein provided If title cannot be made so insurable prior to 32
the Gosing Pate, then as Buyers sole and exclusive remedy, the Earnest Money shall, unless Buyer elects to waive 33
such defects or encumbrances, be refunded to the Buyer, less any unpaid costs described In this Agtewrent and 34
this Agreement shall thereupon be terminated Buyer shall have no right to specific performance or damages as a 35
consequence of Sellers inability to provide Insurable title 36
a. Closing. This sale shall be closed by the Closing Agent on the Closing Date "Closing" means the date on Which all 37
documents are recorded and the sale proceeds are available to Sailer If the Closing Date falls on a Saturday, Sun- 36
day, or legal holiday as defined in RCW 1 16 050, the Closing Agent shall close the transaction on the next day that is 39
not a Saturday, Sunday, or legal holiday 40
f Possession. Buyer shall be entitled to possession at 9,00 p m on the Possesslon Date Seller agrees to maintain the 41
Property in its present concirbon, normal wear and tear excepted, until the Buyer Is entitled to possession 42
g. Closing Costs and Prorations. Seller and Buyer shall each pay one-half of the escrow fee Taxes for the current 43
year, rent, interest, and lienable homeowners association dues shall be prorated as of Closing Buyer agrees to pay 44
Buyers loan costs, including crecilt report, appraisal charge and lenders title insurance, unless provided otherwise in 45
this Agreement If any payments are delinquent on encumbrances which will remain after Closing, Gosing Agent Is
Instructed to pay tt�h��emyy at Closing from money due, or to be paid by, Seller
Inthals BUYER 1"Lv DATE L � SELLER DATE ',3'�9 ��
BUYER ��� DATE SELLER DATE 49
07/24/01 TUE 12 04 FAX 2538520306 REMAX PERFORMANCE PLUS Z 004
NWMLS Form 25 ®Copyrght 2001
Vacant Land Purchase 8 Sale Northwest Multiple Listing Service
Revised 04,V1 ALL RIGHTS RESERVED
Page 3of4 VACANT LAND REAL ESTATE PURCHASE AND SALE AGREEMENT
GENERALTERMS
(continued)
h. Sale Information. The Listing Agent or Selling Licensee are authorized to report this Agreement(including price and 50
all terms)to the Multiple Listing Service that published it and to its members, financing Institutions, appraisers, and 51
anyone also related to this sale Buyer and Sella authorize all lenders, Closing Agents, appraisers, title Insurance 52
companies, and others related to this sale, to furnish the Listing Agent and/or Selling Licensee, on request, any and 53
all Information and copies of documents concerning the status, progress and final disposition of financing, appraisal, 54
Closing, title condition, and any other matter concerning this sale, including Buyers credit report S5
i FIRPTA -Tax Withholding at Closing. The Closing Agent i5 instructed to prepare a cartification (NWMLS Form 22E 56
or equivalent) that Seller is not a "foreign person"within the meaning of the Foreign Investment In Real Property Tax 57
Act Seller agrees to sign this certification If Seller is a foreign person, and this transaction is not otherwise exempt 58
from FIRPTA, Closing Agent is Instructed to Withhold and pay the required amount to the Internal Revenue Service 59
1. Notices. Unless otherwise specified in this Agreemert, any notice required or permitted in, or related to, this Agree- 60
meat(Including revocations of offers or counteroffers) must be in writing Notices bb Seller must be signed by at least 61
one Buyer and shall be deemed given only when the notice is received by Seller, by Listing Agent or at the licensed 52
office of Listing Agent. Nobcas to Buyer must be signed by at least one Seller and shall be deemed given only when 63
the notice is received by Buyer, by Selling Licensee or at the licensed office of Selling Licensee Receipt by Selling 64
Licensee of a Real Property Transfer Disclosure Statement, Public offering Statement and/or Rule Certificate shall 65
be deemed receipt by Buyer Selling Licensee and Listing Aged have no responsibility to adwiss of receipt of a 66
notice beyond either phoning the party or causing a copy of the notce to be delivered to the party's address shown 67
on this Agreement Buyer and Seller must keep Sailing Licensee and Listing Agent advised of their whereabouts in 68
order to receive prompt notrficaton of receipt of a nobca 69
k. Computation of Time. Unless otherwise specified in this Agreement,any penod of bme stated in this Agreement shall 70
start on the day following the event commencing the period and shall expire at 9 00 p m of the lest calendar day of 71
the specified period of time if the last day is a Saturday, Sunday or legal holiday as defined in RCW 1.18 050,the 72
specified period of time shall expire on the next day that is not a Saturday, Sunday or legal holiday Any specified 73
period of 5 days or lees shall not include Saturdays, Sundays or legal holidays Time is of the essence of this 74
Agreement 75
I. Facsimile or E-mail Transmission. Facsimile transmission of any signed onginal document,and retransmission of 76
any signed facsimile transmission, shall be the same as delivery of an original At the request of either party, or the 77
Losing Agent,the parties will confirm facsimile transmitted signatures by signing an original document E-mall trans- 78
mission of any document or notice shall not be effective unless the parties to this Agreement otherwise agree In wrMn9 79
m. Integrabon. This Agreement constitutes the entire understanding between the parties and supersedes all prior or 80
contemporaneous understandings and representations No modificabon of this Agreement shall be effective unless 81
agreed in writing and signed by Buyer and Seller 62
n. Assignment. Buyer may not assign this Agreement, or Buyers rights hereunder, without Seller's prior written consent, 83
unless provided otherwise herein 84
o Default. In the event Buyer falls, without legal excuse, to complete the purchase of the Property, then the following 85
provision, as identified In Specific Term No 7, shall apply 86
L Forfetture of Earnest Money. That portion of the Earnest Money that does not exceed five percent(5%)of the 87
Purchase Price shall be forfeited to the Seler as the sole and exclusive remedy available to Seller for such failure Be
11.Seller's Election of Remedies. Seller may, at Sellers option, (a) keep the Earnest Money as liquidated damages 89
as the sole and exclusive remedy available to Seller for such failure, (b) bring suit agaviat'Buyer for Sellers actual 90
damages, (c) bring suit to specifically enforce this Agreement and recover any incidental dai�, or(d) pursue 91
any other rights or remedies availabte at law or equity 92
p Attorneys' Fees. if Buyer or Seller institutes suit against the other concemin is Agreement, trWpreveiling party is
entitled to reasonable attomeys'fees and expenses
Initials BUYER DATE titi SELLER DATE 7-
BUYER DATE SELLER DATE 96
07/24/01 TUE 12 04 FAX 2538520306 REMAX PERFORMANCE PLUS Zoos
NWMLS Farm 25 ®Copyright 2001
Vacam Land Purchase d Sale Northwest Mutrplei Listing Semce
Revised 0401 ALL RIGHTS RESERVED
Page 4of4 VACANT LAND REAL ESTATE PURCHASE AND SALE AGREEMENT
GENERALTERMS
(contrnuad)
q, Offer Buyer agrees to purchase the Property under the terms and conditions of this Agreement Seller shall have 97
until 9 00 p m on the Offer Expirabon Date to accept this offer, unless sooner withdrawn Acceptance shall not be 98
effective until a signed copy is actually received by Buyer, by Selling Licensee or at the licensed office of Selling gg
Licensee If this offer is not so accepted, it shall lapse and any Earnest Money shall be refunded to Buyer 100
r. Counteroffer Seller agrees to sell the Property under the terms and conditions of this Agreement If Seller makes a 101
counteroffer, Buyer shall have until 9 00 p m on the Counteroffer Expiration Date to accept the counteroffer, unless 102
sooner wrthdram Acceptance shall not be effective until a signed copy is actually received by Seller, by Listing 103
Agent or at the licensed office of Listing Agent If the counteroffer is not so accepted, it shall lapse and any Eamest 104
Money shall be refunded to Buyer If no expiration date is specified for a future counteroffer,the counteroffer shall 105
expire at 9.00 p m on the second day after the counteroffer Is signed by the last party making the counteroffer, 106
unless scarier withdrawn 107
s. Agency Disclosure Selling Broker represents the same party that Selling Licensee represents Listing Broker repre- 100
writs the some party that the Listing Agent represents If Selling Licensee and Listing Agent are different salesper- 109
sons affiliated with the same Broker, then both Buyer and Seller confirm their consent to that Broker representing 110
both parties as a dual agent If Selling Ucensee and Usting Agent are the same salesperson representing bath 111
parties then both Buyer and Seller confirm their consent to that salesperson and his/her Broker representing both 112
parties as dual agents Al parties acknowledge receipt of the pamphlet entitled 'The Law of Real Estate Agency' 113
t. Commission. Seller and Buyer agree to pay a commission in accordance with any listing or commission agreement 114
to which they are a party The Usting Brokers commission shall be apportioned between Usting Broker and Selling 115
Broker as specified in the listing Seller and Buyer hereby consent to Listing Broker or Selling Broker receiving lie
compensation from more then one party Seller and Buyer hereby assign to Usting Broker and Selling Broker, as 117
applicable, a portion of their funds In escrow equal to such commisslon(s)and Irrevocably Instruct the Closing 118
Agent to disburse the oommission(s) directly to the Broker(s) in any action by Listing or Selling Broker to errforce 119
this paragraph, the prevailing party is entitled to court costs and reasonable atfomeys'fees 120
U. Feasibility Contingency. It is the Buyer's responsibddy to verify before the Feasibility Contingency Expiration Date 121
Identifled in Specific Term No 17 whether or not the Prop"can be platted, developed and/or built on (now or In 122
the future)and what if will cost to do this BUYER SHOULD NOT RELY ON ANY ORAL STATEMENTS concerning 123
this made by the Seller, Listing Agent or Selling Licensee Buyer should Inquire at the city or county, and water, 124
sewer or other special districts in which the Property Is located Buyer's Inquiry should Include, but not be limite to 125
building or development moratoriums applicable to or being considered for the Property; any special budding 126
reciwirdiffients, including sdtbacks, height limits or restrictions on where buildings may be constructed on the 127
Property; whether the Property is affected by a flood zone,wetlands, shoreiands or other ernnronmentally sear4dre 128
jwm:Ta*d, school,fire and any other growth mrtigation or Impact fees that must be paid, the procedure and rerigbrof 129
-4mPvvddliasary to obtain plat approval and/or a building permit, suf dent water, sewer and utility and any service 130
commi:560 charges, and all other charges that must be paid 131
If the Buyer dossnotyive notice 4o the contrary on or before the Feasibility Contingency Expiration Date identifielk 132
In Specrfrc'7erm No 17, it shall be conclusively deemed that Buyer is satisfied as to development and/or constxrlk TW
don feasibilrty and cost If Buyer gives notice, this Agreement shall terminate and the Earnest Money shall be f94
r4bilipdg4 to Buyer, less arty unpaid costs 135
v Subdivision If the Property must be subdivided, Seller represents that there has been preliminary plat approval for 136
the Property and this Agreement is conditioned on the recording of the final plat containing the Property an or before 137
the d specified In Specific Term 18 If the firs/ plat is not recorded by such date, this Agreement shall terminate 138
andy�e Earnest Money shall be refunded to Buyer 1
Initials BUYER DATE L T.9B SELLER, DATE - _3ci L" l 140
BUYER DATE SELLER DATE- 141
07/24/01 TUE 12 05 FAX 2538520306 REMAX PERFORMANCE PLUS Z007
ADDENDUM/AMENDMENT
TO PURCHASE AND SALE AGREEMENT
REIMAX a e bade Wane used by mclapendenfly GENERAL
mined and separately Lased Roar Estate mmpanna
The following is part of the Purchase and Sale Agreement dated `L7i zQp r
between CITY OF KENT ("Seller")
and Michael Eisen= ("Buyer")
IT IS AGREED BETWEEN THE SELLER AND BUYER AS FOLLOWS
1 MUTUAL ACCEPTANCE DATE Mutual acceptance occurs when one party's signed acceptance is delivered to the
other party in the manner provided for in the Agreement For the convenience of the parties in determining deadlines
only, Buyer and Seller authorize the Agent who delivers the signed acceptance to insert the date of delivery Failure to
identify the date of delivery shall not affect the validity of this agreement
Acceptance delivered ❑ by fax ❑ personally by
to , on
2 LEAD PAINT DISCLOSURE STATEMENT Applies to residential properties only Was the subject property
constructed prior to 19781
No [] Yes If yes, Lead Based Paint Disclosure Form(22J) must be completed, signed by Buyer and Seller and
kirtachad If this form is not included mutual acceptance does not occur
3 REAL PROPERTY TRANSFER DISCLOSURE STATEMENT- The"Real Property Transfer Disclosure Statement"
(NWMLS Form#17) is a disclosure of the present condition of the property to the best of the Seller's knowledge, and is
not a warranty of any kind by either the Seller or RE/MAX, Inc and its agents, nor Is the property represented other
than as stated therein The Form 17 Is not a part of this Agreement The Buyer Is advised to conduct such inspections,
at their own expense, as they deem necessary to ascertain the true condition of the property, and the Buyer should not
rely upon the Form 17 as a substitute
attached and Buyer acknowledges they have received a copy of the Form 17
to be provided to Buyer within days (5 if not filled in)of mutual acceptance
Aki giver of Right to Receive Disclosure Buyer waives the right to receive the Real Property Transfer Statement
suant to RCW Chapter 64 O6 Buyer undgrstandg that he or she Is waiving important legal rights
OV4xemptTrarisadon Buyer and Seller agree that this transaction is exempt from the disclosure requirements of
RCW Chapter 64 06 No Real Property Transfer Statement Is provided
4 HOMEOWNER'S WARRANTY* Buyer and Seller hereby acknowledge that there are commercially available home-
owner warranties that cover many structural and mechanical components of the residence Buyer is advised to obtain
said coverage, at their own expense, as part of their purchase
5 LEGAL, FINANCIAL & TAX AOVICEIIMPLICATION Agent is not licensed to practice law and cannot give legal
advice Buyer and Seller are advised to seek Independent legal or financial counsel concemmg this Purchase and Sale
Agreement andfor the spectc terms and provision of any Note, Deed of Trust, Real Estate Contract, or any other
contract prepared in connection with this agreement.
6 AGENT REPRESENTATION Seiler and Buyer acknowledge that neither REIMAX nor its Agents have made any
guarantees or warranties concerning the condition of the property, the Buyer's financing ability, tax or legal
consequences Also, that the representations made in any marketing, property flyers or listings agreement materials
regarding square footage, lot size, and improvements should be verified to Buyer's own satisfaction within the bme
frame of the Inspection Contingency, If applicable The buyer agrees that they are relying on their own independent
analysis and inspection of the property and its condition
7 RECOMMENDATIONS AND REFERRALS Agent may recommend or refer service providers, such as home
inspectors, contractors, and mortgage brokers Agent cannot guarantee or ensure the quality of the services provided
by third parties Other vendors are available, and the price and quality of such services is competitive Buyer and
Seller agree to exercise their own judgment when hiring service providers and agree that Agent 11 o held
responsible or liable for the quality of those services
��,4 -I�2;ZA 2-0o r $4
Buyer Date Seller ot Date
Buyer Date Seller Date
Preview Properties, Inc
Company By
RFJMAX FORM NO 3(V01)
07/24/01 TUE 12 05 FAX 2538520306 REMAX PERFORMANCE PLUS Z 008
NWMLS Form 2ZT ®Capyright 2001
Title Contingency Addendum Northwest Multiple Listing Service
Rev 04i01 ALL RIGHTS RESERVED
Page t of t TITLE CONTINGENCY
ADDENDUM TO PURCHASE & SALE AGREEMENT
The following is part of the Purchase and Sale Agreement dated ht1V 22 2001
between CITY OF KENT ("Seller')
and Nfichael Etsea=n
("Buyer")
concerning 4XX ALVORD Kent WA 98031 ("the Property)
t Title Contingency. This Agreement is subject to Buyer's review of a preliminary commitment for title insurance,
together wrth easements, covenants, condrbons and resanctions of record, which are to be obtained by Buyer, to
determine that they are consistent wdh Buyer's intended use of the Property Buyer shall have days (5 days if
not filled In)from mutual acceptance of this Agreement to give notice of Buyer's disapproval and the reasons therefor
Seller shall have days (5 days rf not filled in) after receipt of Buyer's notice of disapproval to give Buyer notice
that Seller will dear all disapproved exceptions Seller shall have until the Closing Date to cure all disapproved
exceptions, and Buyer shall have no obligation to dose until a policy of tide insurance is issued that shows tide clear
of all disapproved exceptions If Seller does not give timely notice that Seiler will clear all disapproved exceptions,
Buyer may terminate this Agreement within 3 days after the deadline for Sellers notice In the event Buyer elects to
terminate the Agreement, the Earnest Money shall be returned to Buyer, less any unpaid costs described in the
Agreement Buyer shall have no right to specific performance or damages as a consequence of Seller's Inability to
provide Insurable tide If Buyer does not terminate the Agreement. Buyer shall be deemed to have waived all
objections to tide which Seller did not agree to clear
2. Supplemental Tltle Reports. If Buyer receives supplemental tide reports that disclose new excepbon(s)to the title
commitment,then the time periods and procedures for notice, correction, and termination above shall apply tip the
date of Buyers receipt of the supplemental We report
3. Marketable Title. This Addendum does not relieve Seller of the obligation to provide marketable title free of monetary
encumbrances at Closing as provided in the Agreement
Initials BUYER DATE Z1 2ec1 SELLER DATE 3dY-71
BUYER DATE SELLER If DATE
ADDENDUM "C"
Purchase and Sale Agreement of 7/22/01 between Michael Eisenman "Buyer", and City
of Kent "Seller"
1 This agreement is contingent upon acceptance of its terms by the Kent City Council
2 The statutory warranty deed transfemng title shall not include a warranty against
claims of adverse possession or prescriptive easements, although no such claims are
known of by seller
Buyer /J Date
Seller Date ) -e 1 ..- •"
08/22/01 WED 11 35 FAX 4254324417 REMAX PERFORNIANCE PLUS M Z 002
425 774 __ —
Rug 21 01 11 ---11a William P . Goold "" - 425-774 -4CSO P . 1
05/15/01 RED 12 52 FAX 4254324417- -
AUG REMAX PERFOR— !4AKE FLITS Y, (Ll]002
t4` oa�wEol 09 04 cfTY of 1tENT PaRKs TEL 253 959 4005 p 002
09714/01 TUF 13 30 FAX 4251324717 MAX "RFORd4ANGV PLUS M Zoo.,
AUp-13-03 Oe : 57q
NWMLS Form No 14 •1 Cman'W�r+Yam
AOdQntloTGT�nCTYn•ce n �$ NO.1heN riulirpd lbhnp BHMu
46. SrBfi A- RIOr,TS RE8E1tVEp
ADDENDUMMMENOMENT70PURCHABE AND SALE
pACREEMEhfT
Tho rollowAn9 la part u+tno owahsa one 19ale Agroompnt doloo 20�L 7
Dohr44h �M -
('6allef') 2
and /?l! y 4'xggo�1
C0fltCrnlnR ^^ 7� ^_v.[1.L All) yVa F u _ ( the Prue r 1
IY IS AGREED BETWEEN 7HE SELLER AND BUYER AS FOLLOWS rvP xp"'4 )59,Y%'Cz'2 YJ fi
/�c( r 1 �r ti c�Lt/rrl� //IT':�,Y 6r 6
1,�(Js/NCB'
oo�
VI
1�
7T
5we
79
20
2•
22
Z7
24
27
A�L OTHER TKRMS AN O Np111DNN of male Agreement rarnaln uBthwoed, 'a
AOEN7 tCOMPA
27
� F •
BY -�
ly E.� 71N S SELLER — Malt �(��(T Ii
IrofQla BUYER,
Al IV FR
17a1E ,_� SELLE0. Dole, 2+
- KENT
W/SHINOTON
Memo
JUL 2 5 2001
To: Mayor White and City Council Members
CC: John Hodgson, Director Kent Parks, Recreation and Community Services, Lon
Flemm, Superintendent, Parks Planning and Development
From: erett, Kent Parks, Fund Development Coordinator
Date:(�7125101
Re: Offer of Sale and Purchase Austin Property, 400 No Alvord
We received a Purchase and Sale agreement for the Jean Austin property forwarded to
us by our realtor, J B Ruth for Michael Eisenman Staff reviewed this offer, and finds it
satisfactory The Council, on April 17in, 2001 , authorized the sale of this property at a
regularly scheduled council meeting for the price of $45,000 The appraised value in
1997 is $50,000 This property is located on an undeveloped portion of Spring Ave, No
of Smith Public Works requires the street (Spring Ave) be built to alley standards across
the 110-foot west face of the property, and then westerly to Alvord Preliminary estimates
of the cost of this improvement are over $22,000 We acquired this property as a
donation from Jean Austin in late 1997 We listed the property in January of 1998
We have received several offers for this property, one as low as $40,000, some as high
as $50,000 All of them failed to close due to the street development costs Based on
this rational, we feel $40,000 is a very good offer, and ask that the council authorize the
mayor to accept this offer, and for him sign the necessary documents to close this
transaction with Mr Eisenman Staff added a contingency requiring Council approval
ENC'
Kent Parks and Recreation,Parks Planning and Development
r
Kent City Council Minutes April 17, 2001
REPORTS
Parks Committee. Woods noted that the next meeting will
be at 4 : 00 p.m. on April 24 .
Administrative Reports. McFall reminded Councilmembers
of an Executive Session of approximately 15 fifteen
minutes regarding land acquisition and pending
litigation. He, noted that action may be taken after the
Executive Session.
EXECL-TIVE SESSION
The meeting recessed to Executive Session at 7 :37 p.m. ,
and reconvened at 7 :45 .
LAND ACQUISITION
Purchase and Sale Agreement. WOODS MOVED to authorize
the Mayor to enter into a Purchase and Sale Agreement
for an amount not less than $45 , 000 cash from a
qualified buyer for the Jean Austin Property; to
authorize the Mayor to execute any and all documents
necessary to close the sale; and to amend the Canterbury
Park budget to include the proceeds from the sale .
Epperly seconded and the motion carried.
PENDING LITIGATION
Settlement Agreement. EPPERLY MOVED to approve the
settlement as presented in the proposed settlement
agreement in the matter of Nastase, et al . V. Miller,
et . al . , Cause No. C00-844R, and to make the proposed
settlement agreement part of the record. Brotherton
seconded and the motion carried.
ADJOL-RNMENT
WOODS MOVED to adjourn at 7 : 47 p.m. Epperly seconded
and the motion carried.
Brenda Jacober, CMC
City Clerk
9