HomeMy WebLinkAboutCAG2000-0393 - Original - Deborah J. Freeman - Purchase of Property 13025 SE 248th Street, Kent - 06/28/2000 REAL ESTATE PURCHASE AND SALE AGREEMENT
WITH EARNEST MONEY PROVISION BETWEEN
THE CITY OF KENT AND DEBORAH J. FREEMAN
This contract controls the terms of the sale of real property.
This Agreement is entered between the CITY OF KENT, a Washington municipal
corporation, whose mailing address is 220 4th Ave. South, Kent, Washington 98032,
("BUYER"), and Deborah J. Freeman, whose mailing address 16745 SW Blanton Street,
Aloha, OR 97007 ("SELLER"), for the sale and purchase of real property as follows:
1. PROPERTY. The property, including all improvements and appurtenances situated
thereon, which Buyer agrees to buy and Seller agrees to sell, is commonly known to be the
13025 SE 248" Street, Kent, Washington 98031 and which Property is legally described
in Exhibit A, attached hereto and incorporated herein by this reference.
2. EARNEST MONEY. Received from the Buyer, Ten Thousand Dollars and No/100
($10,000.00) in the form of a Purchase Order as earnest money and part payment on the
purchase price of the following described real estate.
3. PURCHASE PRICE. The total purchase price for the Property is Two Hundred Fifty
Thousand Dollars and No/100 ($250,000.00), including earnest money, payable on closing.
4. CONTINGENCIES. This agreement is contingent upon:
(a) Acceptance of its terms by the Kent City Council.
(b) Buyers review and approval of the title report on the property prior to Closing.
(c) A Feasibility Study as follows:
(1) Buyer shall have ten (10) days from the date of mutual acceptance of
this Agreement to determine, in Buyer's sole and absolute discretion, if the
Real Property is feasible for investment and/or development by Buyer.
(2) If Buyer fails to notify Seller of its approval of the Real Property, in
writing, on or before the expiration of the feasibility period, then this
Agreement shall be terminated, and neither Buyer nor Seller shall have any
further rights, duties or obligations hereunder, except that the Earnest Money
held in Pacific Northwest Title, by Buyer to Seller shall be immediately
returned to Buyer. Buyer agrees to return the Real Property to its original
state (i.e., fill all boring holes, etc.).
Contracts/Purchase & Sale Agreement 1 of 6 06/12/00
Freeman, Deborah J.
(3) Buyer's feasibility study may include (but is not limited to), Phase I
environmental assessment.
(4) Buyer's satisfaction of the sale conditioned of the subject property
through an environmental study as follows:
(i) Buyer shall have 10 days from the date of mutual acceptance
of this Agreement to conduct Phase I environmental investigation of
the property;
(ii) Buyer agrees to conduct its study at its sole cost and expense
and shall be liable to Buyer for any property damage to the property
arising out of the negligence of Buyer or its designated agent while
conducting its feasibility study; and
(iii) In the event of discovery of an environmental condition on the
property prior to closing, either Seller or Buyer may, at its sole option,
terminate this Agreement.
(5) Buyer agrees to conduct its feasibility study at its sole cost and
expense; and if Buyer does not remove the feasibility contingency on or
before the expiration of the feasibility period, then Buyer also agrees, if
requested by Seller, to deliver to Seller copies of all information and
documentation obtained by Buyer in connection with its feasibility study.
Should any of the contingencies set forth above not be met prior to closing, then this
Agreement shall terminate, except neither Buyer nor Seller shall have any further rights,
duties, or obligations hereunder, except that the Earnest Money held in Pacific Northwest
Title by Buyer to Seller shall be immediately returned to Buyer, except that Buyer shall
remain obligated to return the property to its original condition and remain liable for any
property damage arising out of or in connection with Buyer or Buyer's agent's act or
omissions in conducting the environmental study.
5. CONVEYANCE AND CONDITION OF TITLE. The title to the real property shall be
conveyed by Seller to Buyer at closing by Statutory Warranty Deed, free and clear of all
liens, encumbrances or defects except those described in Paragraph 6 below.
Contracts/Purchase & Sale Agreement 2 of 6 06/12/00
Freeman, Deborah J.
6. TITLE INSURANCE. At Closing, Seller shall cause Pacific Northwest Title, 1201
Third Avenue, Suite 3800, Seattle, Washington 98101, to issue an extension from owner's
policy of title insurance to Buyer in an amount equal to the total purchase price of the Real
Property, and insuring the real Property be discharged by Seller shall be paid from Seller's
funds at Closing. For purposes of this Agreement, the following shall not be deemed
encumbrances or defects: rights reserved and federal patents or state deeds; building or
use restrictions consistent with current zoning, and utility and road easements of record.
If title cannot be made so insurable prior to the Closing date called for herein, unless,
Buyer elects to waive such defects or encumbrances, this agreement shall terminate.
7. CLOSING COSTS AND PRO-RATIONS. The cost of escrow shall be shared
equally between Buyer and Seller, except those fees that are expressly limited by Federal
Regulation. Seller shall pay for excise tax and revenue stamps. Taxes for the current
year, rents, interest, Association, Condominium and/or Homeowner's fees, water and other
utility charges, if any, shall be pro-rated as of date of closing unless otherwise agreed.
8. CLOSING OF THE SALE. WITH THE UNDERSTANDING THAT TIME IS OF THE
ESSENCE FOR THIS AGREEMENT, this sale shall be closed by July 31, 2000 which shall
also be the termination date of this agreement unless said closing date is extended in
writing by mutual agreement of the parties. When notified, the Buyer and Seller will
deposit, without delay, in escrow with Great American Escrow, Jean Johnson, 1814 South
3241h Place, Suite A, Federal Way, WA 98003, all instruments and monies required to
complete the transaction in accordance with this agreement. Closing, for the purpose of
this agreement, is defined as the date that all documents are executed and the sale
proceeds are available for disbursement to the Seller.
9. CASUALTY LOSS. If prior to closing, improvements on said premises shall be
destroyed or materially damaged by fire or other casualty, this agreement, at option of the
Buyer, shall become null and void.
10. POSSESSION. Buyer shall be entitled to possession on closing.
11. SELLER'S REPRESENTATIONS. Seller represents:
(a) that he/she will maintain the property and yard in present or better condition
until time of agreed possession,
(b) that he/she has no knowledge or notice from any governmental agency of
any violation of laws relating to the subject property
except:
(c) that the property is not encumbered by any leases.
Contracts/Purchase & Sale Agreement 3 of 6 06/12/00
Freeman, Deborah J.
12. SELLER'S ENVIRONMENTAL REPRESENTATIONS. Seller represents that to the
best of his/her knowledge that he/she is not aware of existence of, or has caused or
allowed to be caused, any environmental condition during Seller's ownership of the
Property (including, without limitation, a spill, discharge or contamination) that existed as
of and/or prior to the closing date or any act or omission occurring prior to the closing date,
the result of which may require remedial action pursuant to any federal, state or local law
or may be the basis for the assertion of any third party claims, including claims of
governmental entities. This provision shall survive the closing and be in addition to Seller's
obligation for breach of a representation or warranty as may be set forth herein. The
limitation period for filing claims shall be consistent with applicable statutory and common
law limitations period.
13. SELLER'S INDEMNITIES. Seller agrees to indemnify and hold harmless the Buyer,
against and in respect of, any and all damages, claims, losses, liabilities, judgments,
demands, fees, obligations, assessments, and expenses and costs, including, without
limitation, reasonable legal, accounting, consulting, engineering and other expenses which
may be imposed upon or incurred by Buyer, or asserted against Buyer, by any other party
or parties (including, without limitation, a governmental entity), arising out of or in
connection with any environmental condition existing as of and/or prior to the closing date,
including the exposure of any person to any such environmental condition, regardless of
whether such environmental condition or exposure resulted from activities of Seller or
Seller's predecessors in interest. "Except for liability arising from activities of Seller prior
to the sale of the subject property or any liability imposed upon Seller arising under
CERCLA or MTCA by any governmental agency."
This indemnity shall survive the closing and be in addition to Seller's obligation for breach
of a representation or warranty as may be set forth herein.
14. DEFAULT AND ATTORNEY'S FEES.
(a) Buyer's Default. IF BUYER DEFAULTS HEREUNDER, SELLER'S SOLE
REMEDY SHALL BE LIMITED TO DAMAGES AGAINST PURCHASE IN THE
LIQUIDATED AMOUNT OF THE EARNEST MONEY PREVIOUSLY PAID THE
BUYER. BUYER AND SELLER INTEND THAT SAID AMOUNT CONSTITUTES
LIQUIDATED DAMAGES: AND SO AS TO AVOID OTHER COSTS AND
EXPENSES TO EITHER PARTY IN CONNECTION WITH POTENTIAL
LITIGATION ON ACCOUNT OF BUYERS' DEFAULT. BUYER AND SELLER
BELIEVE SAID AMOUNT TO BE A FAIR ESTIMATE OF ACTUAL DAMAGES.
(b) Seller's Default. IF SELLER DEFAULTS HEREUNDER, BUYER SHALL
HAVE ALL THE RIGHTS AND REMEDIES AVAILABLE AT LAW OR IN EQUITY.
(c) Attorney's Fees and Costs. In the event of litigation to enforce any of the
terms or provisions herein, each party shall pay all its own costs and attorney's fees.
Contracts/Purchase & Sale Agreement 4 of 6 06/12/00
Freeman, Deborah J.
15. NOTICE TO SELLER. This form contains provisions for an agreement for the
purchase and sale of real estate. The Buyer makes NO WARRANTY OR
REPRESENTATION OF ANY KIND that this form, or any of its provisions, is intended to
meet the factual and legal requirements of a particular transaction, or that it accurately
reflects that laws of the State of Washington at the time you enter the agreement. THIS
AGREEMENT HAS SIGNIFICANT LEGAL AND FINANCIAL CONSEQUENCES AND YOU
ARE ADVISED TO SEEK INDEPENDENT LEGAL AND FINANCIAL COUNSEL
REGARDING THESE CONSEQUENCES. If you do not understand the effect of any part,
consult your Attorney before signing.
16. NON-MERGER. The terms, conditions, and provisions of this Agreement shall not
be deemed merged into the deed, and shall survive the Closing and continue in full force
and effect.
17. NOTICES. All notices required or permitted to be given hereunder shall be in writing
and shall be sent U.S. certified mail, return receipt requested, or by facsimile transmission
addressed as set forth below:
(a) All notices to be given to Buyer shall be addressed as follows:
John Hodgson, Director
Parks and Recreation Department
220 4th Avenue South
Kent, Washington 98032-5895
(b) All notices to be given to Seller shall be addressed as follows:
Deborah J. Freeman
16745 SW Blanton Street
Aloha, OR 97007
Either party hereto may, by written notice to the other, designate such other address for
the giving of notices as being necessary. All notices shall be deemed given on the day
such notice is personally served, or on the date of the facsimile transmission, or on the
third day following the day such notice is mailed in accordance with this paragraph.
18. ENTIRE AGREEMENT. This agreement, including all incorporated exhibits,
constitutes the full understanding between seller and buyer. There have been no verbal
or other agreements that modify this agreement.
19. BINDING EFFECT AND SURVIVAL. This Agreement shall be binding upon parties
hereto and their respective heirs, successors and assigns; and the terms, conditions and
provisions of this Agreement shall survive the closing of this transaction.
Contracts/Purchase & Sale Agreement 5 of 6 06/12/00
Freeman, Deborah J.
20. DATE OF MUTUAL ACCEPTANCE. For the purposes of this Agreement, the date
of mutual acceptance of this Agreement shall be the last date on which the parties to this
Agreement have executed this Agreement as indicated below.
21. EXPIRATION OF OFFER. Buyer shall have only until 5:00 P.M. on June 30, 2000
to accept the purchase and sale agreement as written, by delivering a signed copy thereof
to the Buyer or the Buyer's agent. If Seller does not so deliver a signed copy within said
period, this agreement shall lapse and all right of the parties hereunder shall terminate.
IN WITNESS WHEREOF, the parties hereto have executed this Agreement on the date
set forth below.
BUYER: SELLERS:
THE CM OF KENT Deborah J. Freeman
� f
By: By: secs
J1 White Deborah4/Freeman
Its: Mayor Its: Owner
Dated: Z Dated: Z
APPROVED AS TO FORM: ATTEST:
,uLa��r, :� stern if y Attorney gfeitda-daeober, Kent City Clerk, �DePury
aDAWA 5&)4&)
Contracts/Purchase & Sale Agreement 6 of 6 06/12/00
Freeman, Deborah J.
- Exhibit A
COMMITMENT FOR TITLE INSURANCE ISSUED BY
PACIFIC NORTHWEST TITLE INSURANCE COMPANY, INC., a Washington corporation,
,. herein called the Company, for a valuable consideration, hereby commits to issue its policy
r ;. or policies of title insurance, as identified in Schedule A, in favor of the proposed Insured
named in Schedule A, as owner or mortgagee of the estate or interest covered hereby in
the land described or referred to in Schedule A, upon payment of the premiums and charges
S therefor; all subject to the provisions of Schedules A and B and to the Conditions and
Stipulations hereof.
yy vh" This Commitment shall be effective only when the identity of the proposed Insured and
the amount of the policy or policies committed for have been inserted in Schedule A hereof
by the Company, either at the time of the issuance of this Commitment or by subsequent
n a�
endorsement.
This Commitment is preliminary to the issuance of such policy or policies of title insurance
and all liability and obligations hereunder shall cease and terminate six months after the
effective date hereof or when the policy or policies committed for shall issue, whichever
first occurs, provided that the failure to issue such policy or policies is not the fault of the
Company.
Signed under seal for the Company, but this Commitment shall not be valid or binding
until it bears an authorized Countersignature.
" .. IN WITNESS WHEREOF, Pacific Northwest Title Insurance Company, Inc. has caused its
corporate name and seal to be hereunto affixed by its duly authorized officers on the date
shown in Schedule A.
_ZIFIC NORTHWEST TITLE
Insurance Company, Inc.'
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S�t�jlE INSV94
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American Land Title Association Commitment-1966 (Ray.3/7a
CONDITIONS AND STIPULATIONS
1. The term mortgage, when used herein, shall include deed of trust, trust deed, or
other security instrument.
2. If the proposed Insured has or acquires actual knowledge of any defect, lien,
encumbrance, adverse claim or other matter affecting the estate or interest or
mortgage thereon covered by this Commitment other than those shown in Schedule
B hereof, and shall fail to disclose such knowledge to the Company in writing, the
Company shall be relieved from liability for any loss or damage resulting from any
act of reliance hereon to the extent the Company is prejudiced by failure to so
disclose such knowledge. If the proposed Insured shall disclose such knowledge
to the Company, or if the Company otherwise acquires actual knowledge of any
such defect, lien, encumbrance, adverse claim or other matter, the Company at
its option may amend Schedule B of this Commitment accordingly, but such
amendment shall not relieve the Company from liability previously incurred
pursuant to paragraph 3 of these Conditions and Stipulations.
3. Liability of the Company under this Commitment shall be only to the named
proposed Insured and such parties included under the definition of Insured in the
form of policy or policies committed for and only for actual loss incurred in reliance
hereon in undertaking in good faith (a) to comply with the requirements hereof, or
(b) to eliminate exceptions shown in Schedule B, or (c) to acquire or create the
estate or interest or mortgage thereon covered by this Commitment. In no event
shall such liability exceed the amount stated in Schedule A for the policy or policies
committed for and such liability is subject to the insuring provisions, the Conditions
and Stipulations, and the Exclusions from Coverage of the form of policy or policies
committed for in favor of the proposed Insured which are hereby incorporated by
reference and are made a part of this Commitment except as expressly modified
herein.
4. Any action or actions or rights of action that the proposed Insured may have or
may bring against the Company arising out of the status of the title to the estate
or interest or the status of the mortgage thereon covered by this Commitment
must be based on and are subject to the provisions of this Commitment.
All notices required to be given the Company and any statement in writing required
to be furnished the Company shall be addressed to the Company at 215 Columbia
Street, Seattle, Washington 98104-1511.
American Land Title Association Commitment-1966 (Rev.3/78)
t
PACIFIC NORTHWEST TITLE COMPANY
OF WASHINGTON, INC.
215 Columbia Street
Seattle, Washington 98104-1511
Senior Title Officer, Mike Sharkey (mikesharkey@pnwt.com)
Assistant Title Officer, Curtis Goodman (curtisgoodmanWpnwt.com)
Assistant Title Officer, Russell T. Lund (russelllund@pnwt.com)
Unit No. 12
FAX No. (206)343-1330
Telephone Number (206) 343-1327
City of Kent Parks Department
220 South 4th, 4th Floor Title Order No. : 407010
Kent, WA 98032
Attention: Perry
Your Ref. : P.O. 187704
A. L. T. A. COMMITMENT
SCHEDULE A
Effective Date: May 31, 2000, at 8 :00 a.m.
1. Policy(ies) to be issued:
A.ALTA Owner's Policy Amount TO BE AGREED UPON
Standard (X) Extended ( ) Premium
Tax (8 .6t)
Proposed Insured: TO FOLLOW
NOTE: IF EXTENDED COVERAGE FOR OWNERS OR LENDERS WILL BE
REQUIRED FOR A PENDING TRANSACTION, PLEASE NOTIFY US AT LEAST ONE
WEEK PRIOR TO CLOSING SO THAT WE MAY INSPECT THE PREMISES.
B. WORK CHARGE Amount $ 330.00
Tax $ 28.38
2. The Estate or interest in the land described herein and which is
covered by this commitment is fee simple.
3. The estate or interest referred to herein is at Date of Commitment
vested in:
DEBORAH J. FREEMAN, as her separate estate
(NOTE: SEE SPECIAL EXCEPTION NUMBER 5 REGARDING EXECUTION OF THE
FORTHCOMING DOCUMENT(S) TO BE INSURED) .
4. The land referred to in this commitment is situated in the County of
King, State of Washington, and described as follows:
As on Schedule A, page 2, attached.
Order No. 407010
A.L.T.A. COMMITMENT
SCHEDULE A
Page 2
The land referred to in this commitment is situated in the county of
King, State of Washington, and described as follows:
The west 85 feet of the east 503.58 feet of the south 130 feet of
the north 160 feet of the following described property:
The northeast quarter of the southeast quarter of Section 21,
Township 22 North, Range 5 East, W.M. , in King County, Washington;
EXCEPT the south 340 feet;
ALSO EXCEPT the west 660 feet;
AND
The south 130 feet of the north 160 feet of the east 80 feet of the
west 985 feet of the northeast quarter of the southeast quarter of
Section 21, Township 22 North, Range 5 East, W.M. , in King County,
Washington.
END OF SCHEDULE A
NOTE FOR INFORMATIONAL PURPOSES ONLY:
The following may be used as an abbreviated legal description on the
documents to be recorded, per amended RCW 65.04. Said abbreviated
legal description is not a substitute for a complete legal description
within the body of the document.
NESE 21-22-05
PACIFIC NORTHWEST TITLE COMPANY OF WASHINGTON, INC.
A.L.T.A COMMITMENT
Schedule B Order No. 407010
I. The following are the requirements to be complied with:
A. Instruments necessary to create the estate or interest to be
insured must be properly executed, delivered and duly filed
for record.
B. Payment to or for the account of the grantors or mortgagors of
the full consideration for the estate or interest to be
insured.
II. Schedule B of the Policy or Policies to be issued (as set forth in
Schedule A) will contain exceptions to the following matters unless the.
same are disposed of to the satisfaction of the company:
A. Defects, liens, encumbrances, adverse claims or other matters,
if any created, first appearing in the public records or
attaching subsequent to the effective date hereof but prior to
the date the proposed Insured acquires for value of record the
estate or interest or mortgage thereon covered by this
Commitment.
B. GENERAL EXCEPTIONS:
1. Rights or claims of parties in possession not shown by the
public records.
2 . Public or private easements, or claims of easements, not
shown by the public record.
3 . Encroachments, overlaps, boundary line disputes, or other
matters which would be disclosed by an accurate survey or
inspection of the premises.
4. Any lien, or right to a lien, for services, labor or
material heretofore or hereafter furnished, imposed by law and
not shown by the public records, or Liens under the Workmen's
Compensation Act not shown by the public records.
5. Any title or rights asserted by anyone including but not
limited to persons, corporations, governments or other
entities, to tide lands, or lands comprising the shores or
bottoms of navigable rivers, lakes, bays, ocean or sound, or
lands beyond the line of the harbor lines as established or
changed by the United States Government.
6. (a) Unpatented mining claims; (b) reservations or
exceptions in patents or in Acts authorizing the issuance
thereof; (c) water rights, claims or title to water.
7. Any service, installation, connection, maintenance,
capacity, or construction charges for sewer, water,
electricity or garbage removal.
8. General taxes not now payable or matters relating to
special assessments and special levies, if any, preceding the
same becoming a lien.
9. Indian tribal codes or regulations, Indian treaty or
aboriginal rights, including, but not limited to, easements or
equitable servitudes.
C. SPECIAL EXCEPTIONS: As on Schedule B, attached.
a
l Order No. 407010
A.L.T.A. COMMITMENT
SCHEDULE B
Page 2
SPECIAL EXCEPTIONS:
NOTE FOR INFORMATION PURPOSES ONLY:
EFFECTIVE JANUARY 1, 1997, AND PURSUANT TO AMENDMENT OF WASHINGTON
STATE STATUTES RELATING TO STANDARDIZATION OF RECORDED DOCUMENTS,
THE FOLLOWING FORMAT AND CONTENT REQUIREMENTS MUST BE MET. FAILURE
TO COMPLY MAY RESULT IN REJECTION OF THE DOCUMENT BY THE RECORDER.
FORMAT:
MARGINS TO BE 3" ON TOP OF FIRST PAGE, 1" ON SIDES AND BOTTOM - 1--
ON TOP, SIDES AND BOTTOM OF EACH SUCCEEDING PAGE. RETURN ADDRESS IS
ONLY ITEM ALLOWED WITHIN SAID 3" MARGIN. NOTHING WITHIN 1" MARGINS.
FONT SIZE OF 8 POINTS OR LARGER AND PAPER SIZE OF NO MORE THAN
8 1/2" BY 14" .
NO ATTACHMENTS ON PAGES SUCH AS STAPLED OR TAPED NOTARY SEALS;
PRESSURE SEALS MUST BE SMUDGED.
INFORMATION WHICH MUST APPEAR ON THE FIRST PAGE:
RETURN ADDRESS, WHICH MAY APPEAR WITHIN THE UPPER LEFT HAND 3"
MARGIN.
TITLE OR TITLES OF DOCUMENT.
IF ASSIGNMENT OR RECONVEYANCE, REFERENCE TO RECORDING NUMBER. OF
SUBJECT DEED OF TRUST.
NAMES OF GRANTOR(S) AND GRANTEE(S) WITH REFERENCE TO ADDITIONAL
NAMES ON FOLLOWING PAGES, IF ANY.
ABBREVIATED LEGAL DESCRIPTION (LOT, BLOCK, PLAT NAME, OR SECTION,
TOWNSHIP, RANGE AND QUARTER QUARTER SECTION FOR UNPLATTED) .
ASSESSOR'S TAX PARCEL NUMBER(S) .
(continued)
f
Order No. 407010
A.L.T.A. COMMITMENT
SCHEDULE B
Page 3
SPECIAL EXCEPTIONS (continued) :
1. RIGHT TO MAKE NECESSARY SLOPES FOR CUTS OR FILLS UPON PROPERTY
HEREIN DESCRIBED AS GRANTED IN DEED:
RECORDED: December 11, 1956
RECORDING NUMBER: 4755698
GRANTEE: King County
2. Matters disclosed on a Short Plat recorded under King County
Recording Number 9802179012, a copy of which is hereto attached.
3. GENERAL AND SPECIAL TAXES AND CHARGES: FIRST HALF DELINQUENT MAY 1,
IF UNPAID: SECOND HALF DELINQUENT NOVEMBER 1, IF UNPAID:
YEAR: 2000
TAX ACCOUNT NUMBER: 212205-9137-01
LEVY CODE: 1565
CURRENT ASSESSED VALUE: Land: $ 48,000.00
Improvements: $126,000.00
GENERAL TAXES:
AMOUNT BILLED: $2,584.88
AMOUNT PAID: $1,292.44
AMOUNT DUE: $1,292.44
SPECIAL DISTRICT:
AMOUNT BILLED: $6.89
AMOUNT PAID: $3.45
AMOUNT DUE: $3 .44
SPECIAL DISTRICT:
AMOUNT BILLED: $0.85
AMOUNT PAID: $0.43
AMOUNT DUE: $0.42
SPECIAL DISTRICT:
AMOUNT BILLED: $5.00
AMOUNT PAID: $2.49
AMOUNT DUE: $2.51
(continued)
Order No. 409010
A.L.T.A. COMMITMENT
SCHEDULE B
Page 4
4. DEED OF TRUST AND THE TERMS AND CONDITIONS THEREOF:
GRANTOR: Deborah J. Freeman, as her separate
estate
TRUSTEE: Old Republic
BENEFICIARY: Consolidated Mortgage Incorporated,
a Washington corporation
AMOUNT: $166,000.00
DATED: February 19, 1998
RECORDED: February 24, 1998
RECORDING NUMBER: 9802241809
The amount now secured by said Deed of Trust and the terms upon
which the same can be discharged or assumed should be ascertained
from the holder of the indebtedness secured.
ASSIGNMENT OF SAID DEED OF TRUST:
ASSIGNEE: Green Tree Financial Servicing
Corporation
DATED: Not disclosed
RECORDED: December 16, 1998
RECORDING NUMBER: 9812160130
5. QUESTION OF THE EXISTENCE OF AN "AUTOMATIC HOMESTEAD" :
If the subject property is, or will be, the residence of a marital
community, even though the interest therein may be intended to be
the separate property of either spouse, execution of the proposed
encumbrance, conveyance or contract to convey must be by both
husband and wife, pursuant to R.C.W. 6.13, which provides for an
"automatic homestead", and R.C.W. 26.16.030.
6. Until the amount of the owner's policy to be issued is provided to
us, and entered on the commitment as the amount. of the policy to be
issued, it is agreed by every person relying on this commitment that
we will not be required to approve any policy amount over $100,000,
and our total liability under this commitment shall not exceed that
amount.
(continued)
C
Order No. 407010
A.L.T.A. COMMITMENT
SCHEDULE B
Page 5
7. Payment of Real Estate Excise Tax, if required.
The property described herein is situated within the boundaries of
local taxing authority of City of Kent.
Present Rate of Real Estate Excise Tax as of the date herein is
END OF SCHEDULE B
Title to this property was examined by:
David Clasen
Any inquires should be directed to one of the title officers set forth
in Schedule A.
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MrpORTPuNT. This is not a Plat of Survey. it is furnished as a convenience to locate
the land indicated hereon-with reference to streets and other land. No liability is
' assumed by reason of reliance hereon.
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