HomeMy WebLinkAboutPK1998-0320 - Original - Ben C. & Kazuko Kay Estes - Purchase of 20403 100th Ave SE - 04/23/1998 REAL ESTATE PURCHASE AND SALE AGREEMENT
WITH EARNEST MONEY PROVISION
BEN C. AND KAZUKO KAY ESTES
This contract controls the terms of the sale of real property.
(Please read carefully before signing.).
This Agreement is entered between the CITY OF KENT, a Washington municipal
corporation, whose mailing address is 220 4th Ave. S, Kent, Washington 98032, ("Buyer"), and
Ben C. Estes and Kazuko Kay Estes ,husband and wife,whose mailing address is 13826 S.E.
10th Street. Bellevue , Washington, 98005 , ("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 in its as is condition, property
commonly known to be located at 20403 100th Avenue S. E., Kent, WA 98031, and legally
described in Exhibit A, incorporated herein by this reference. A map indicating the location of the
Property is also attached as Exhibit B, incorporated herein by this reference.
2. EARNEST MONEY. Received from Buyer, Five Thousand and No/100th dollars
($5,000.00) in the form of a City of Kent purchase order, as earnest money and part payment on the
purchase price of the property.
3. PURCHASE PRICE. The total purchase price for the Property is Three Hundred
Fifty Eight Thousand and No/100th($358,000.00), 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.
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.
6. TITLE INSURANCE. At Closing, Seller shall cause Pacific Northwest Title
Company, 1201 Third Avenue, Suite 3800, Seattle, Washington 98101-3055, to issue a standard
form owner's policy of title insurance to Buyer in an amount equal to the total purchase price of the
REAL ESTATE PURCHASE AND SALE AGREEMENT PAGE 1 of 5
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 or extend the time for Seller's performance of this condition, 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 which 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 June 12, 1998 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 Pacific Northwest Title, 116 Washington Avenue N., Kent,Washington 98032-0864,
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:
REAL ESTATE PURCHASE AND SALE AGREEMENT PAGE 2 of 5
(c) that the property is not encumbered by any leases.
. Seller
to the best o cnowledge that he/she is not aware of existence of, or has cause owed
to be caused, any environmen 'tion (including, without limitatio spill, discharge or
contamination)that existed as of and/or prior losing or any act of omission occurring
which ma uire rem action pursuant to any federal, Cr
prior to the closing date, the result of w '
state or local law or may be the bas' a assertion of any third party cl including claims of
governmental en ' is provision shall survive the closing and be in addit1 Seller's
Buyer,ag d in respect of,any and all damages,claims,losses,liabilities,jud s,demands,
fees, obligations, asse ts, and expenses and costs, including, ' Jt limitation, reasonable
legal, accounting, consulting, en ng and other e es which may be imposed upon or
incurred by Buyer, or asserted against Buy y other party or parties (including, without
limitation,a governmental entity) ' ng out of or in conne ' with any environmental condition
existing as of and/or ' to the closing date, including the exposur y person to any such
environm condition,regardless of whether such environmental condition or ure resulted
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.
REAL ESTATE PURCHASE AND SALE AGREEMENT PAGE 3 of 5
(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.
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:
Helen Wickstrom
City of Kent
220 Fourth Avenue South
Kent, Washington 98032
(b) All notices to be given to Seller shall be addressed as
follows:
Ben C. Estes and Ka_zlko Kay Estes
13826 SE 10th Street
Bellevue WA 98005
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.
REAL ESTATE PURCHASE AND SALE AGREEMENT PAGE 4 of 5
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.
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.
IN WITNESS WHEREOF,the parties hereto have executed this Agreement on the date set
forth below.
BUYER: SELLERS:
THE CITY OF KENT
By: A®ff
ry By:
r Its
Dated Dated
By:
Its:
Dated:
APPROVED AS TO FORM:
By: ��' I",-A
G"—
fi � O A. LUBOVICH
CITY ATTORNEY
P AADMIMCONTRACIIP&S.EST
REAL ESTATE PURCHASE AND SALE AGREEMENT PAGE 5 of 5
EXHIBIT A
Order No. 339975
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:
That portion of the south half of the northeast quarter of the
southeast quarter of Section 6, Township 22 North, Range 5 East,
W.M. , in King County, Washington, and of Tract 1, Fruitland Addition
to Kent, according to the plat thereof recorded in Volume 7 of
Plats, page 40, in King County, Washington, described as follows:
Beginning at the southeast corner of the south half of the northeast
quarter of the southeast quarter of said Section 6;
thence north 89057131" west along the south line of said subdivision
16 .50 feet to the TRUE POINT OF BEGINNING;
thence continue north 89057131" west 13 .50 feet to the northeast
corner of Tract 1 of said Fruitland Addition to Kent;
thence south 0004112" west along the east line of said Tract 1, a
distance of 20 feet;
thence north 89057131" west, along the south line of the nortz 20
feet of said Tract 1 a distance of 312.86 feet to the west line of
the east half of said Tract 1;
thence south 0006,24" west along said west line 90 feet;
thence north 89057131" west along the south line of the north 110
feet of the west half of said Tract 1 a distance of 126.46 feet to
the east line of 98th Place South;
thence northwesterly along the arc of a curve to the left having a
radius of 169.75 feet, the radial center of which bears north
89052130" west from the last mentioned point an arc distance of
248.21 feet;
thence north 0018' 05" west 221.73 feet;
thence north 89059'10" east 354.51 feet;
thence south 0004112" west 270.54 feet;
thence south 89057131" east 251.00 feet;
thence south 0004112" west 10.50 feet to the TRUE POINT OF BEGINNING.
END OF SCHEDULE B
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.
SE 1/4, 06-22-05.
EXHIBIT B
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PAMC NOR TITLE COimpANY NoRTH
Formerly-Stewart Title Company
Order No. �%V 7 '1,—
I eIPORTANT: 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 ,SOL TTH
reliance hereon.
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NWMLS Form No.34
Addendum/Amendment to P&S ®Copyright 1996
Rev.6192 Northwest Multiple Listing Service
ALL RIGHTS RESERVED
ADDENDUM/AMENDMENT TO PURCHASE AND SALE AGREEMENT
The following is part of the Purchase and Sale Agreement dated 19 1
between L?&,17 ("Seller) 2
and l''.. Tit �.O („Buyer") 3
concerning: J - -- i o �" - [®� l O y ! v �,.�-
�-��._ 4)�"the PropertX"k 4
IT IS AGREED BETWEEN THE SELLER AND BUYER AS FOLLOWS:
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10
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12
13
All,
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14
15
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-From somcane e * a� ,�o �,�
ALL OTHER TERMS AND CONDITIONS of said Agreement remain nchanged. �
27
Initials: BUYER: Date: SELLER: C Date:
BUYE 28
Date: SELLER. GL �
Date: t 29
WHITE�NItng AgsnYs COPY GREEN—Escrow Copy CANARY—Purchaser's 2nd Copy PINK—Seller's COPY GOLD—Purchasers let Copy
APR. -16' 98 (THU) 13 : 28 SECTION 1031 TEL� 206 637 2873 P 001
SECTION
1
SERVICES,INC.
rho ISO r6malA1r1Q ffz slhefter for real eater•1nY10M"t.
April 16, 1998
City of Kent
Attn: Helen Wickstrom
Via Facsimile #2531859-4005
Re: Estes
Dear Ms. Wickstrom:
Please be advised that our office will be acting as qualified intermediary on a 1031 exchange
for Mr. and Mrs. Estes on the sale of their property located at 20403 1001' Ave. SE, Kent,
Washington. If you have any questions or need any additional information, please do not hesitate
to give us a call. Thank you.
Sincerely, _
/joa
Christine E. Towey �P
Exchange Coordinator
CT/dp
40 LAke Mllevuo.SU►te 101 •Bellevue,WA 90005
(425) $48.4020-FAX(428)637-2873
F.mAil, 51031 S18201.com
A ppENpUM/AMi'i NpM[ NT To piTRCHASE AND SALES AGREEMENT
The Following is part of the Purchase and Sales Agreement between the City of Kent and Ben C.
and Kazuko Kay Estes concerning: 20403 100th Avenue S. E., Kent, WA 98031.
IT IS AGREED BETWEEN THE SELLER AND BUYER AS FOLLOWS:
1. The house and cottage located on the property at 20403 100th Avenue S.E., Kent, WA
98031 is currently rented on a month to month basis for$1,600.00 per month to Dennis
and Pauline Granger. Seller shall show proof that tenant has agreed to this monthly
rental amount, which exceeds the stated monthly rent in the lease by $400.00.
2. Dennis and Pauline Granger paid a$1,000.00 deposit to Ben and Kazuko Kay Estes to
apply against damage, loss, clean-up, unpaid rent, unpaid utility bills and unreturned
keys. Interest on this deposit accrues to (owner) (tenant). Owner is holding no other
funds as security or damage deposit related to this lease.
3. The $1,000.00 deposit will be transferred to the City of Kent at time of closing the sale
of the property at 20403 100th Avenue S. E., Kent, WA 98031.
4. Rent for the current month shall be pro-rated as of date of closing unless otherwise
agreed.
5. Seller shall tender all documents and records related to this lease to Buyer by April 20,
for Buyer's inspection, review and approval. If Buyer has not accepted or rejected its
offer to purchase by 5:00 p.m. April 24, 1998, Buyer will be deemed to have approved
and accepted this lease hold interest.
ALL OTHER TERMS AND CONDITIONS of said Agreement remain unchanged.
Initials: BU Date. SELLER: G Date: -' w
SELLER: Date: �
June 10, 1998
TO: Jerry McCaughan, Property Manager
Brenda Jacober, City Clerk
FROM: Helen, Wickstrom, Project Manager
SUBJECT: Title Report for Chestnut Ridge Park(Estes Property)
As promised when I sent you the fact sheet on this recent purchase, here is a copy of the
title report for the property we recently purchased for a neighborhood park in the
Chestnut Ridge area.
Standard Coverage
PACIFIC NORTHWEST TITLE INSURANCE COMPANY, INC.
A.L.T.A. OWNER' S POLICY
SCHEDULE A
Order No. : 339975 Policy No. : 1093-40061
Policy Date : May 15 , 1998 Policy Amount : $350 , 000 . 00
at 1 : 26 p .m.
1 . Name of Insured:
CITY OF KENT, a municipality
2 . The estate or interest in the land described herein and which is
covered by this Policy is :
FEE SIMPLE
3 . The estate or interest referred to herein is at date of Policy
vested in:
CITY OF KENT, a municipality
4 . The land referred to in this Policy is described as follows :
That portion of the south half of the northeast quarter of the
southeast quarter of Section 6 , Township 22 North, Range 5 East,
W.M. , in King County, Washington, and of Tract 1, Fruitland Addition
to Kent, according to the plat thereof recorded in Volume 7 of
Plats, page 40 , in King County, Washington, described as follows :
Beginning at the southeast corner of the south half of the northeast
quarter of the southeast quarter of said Section 6 ;
thence north 89057131/1 west along the south line of said subdivision
16 . 50 feet to the TRUE POINT OF BEGINNING;
thence continue north 89057131/1 west 13 . 50 feet to the northeast
corner of Tract 1 of said Fruitland Addition to Kent ;
thence south 0004 / 12/1 west along the east line of said Tract 1, a
distance of 20 feet ;
thence north 89057131/1 west , along the south line of the north 20
feet of said Tract 1 a distance of 312 . 86 feet to the west line of
the east half of said Tract 1 ;
thence south 0006124/1 west along said west line 90 feet;
thence north 89057131/1 west along the south line of the north 110
feet of the west half of said Tract 1 a distance of 126 . 46 feet to
the east line of 98th Place South;
thence northwesterly along the arc of a curve to the left having a
radius of 169 . 75 feet, the radial center of which bears north
89°52130" west from the last mentioned point an arc distance of
248 . 21 feet;
thence north 0018 / 05/1 west 221 . 73 feet ;
thence north 89°59110" east 354 . 51 feet ;
thence south 0004112/1 west 270 . 54 feet ;
thence south 89057131/1 east 251 . 00 feet ;
thence south 0004112/1 west 10 . 50 feet to the TRUE POINT OF BEGINNING.
Standard Coverage
PACIFIC NORTHWEST TITLE INSURANCE COMPANY, INC.
A.L.T.A. OWNER ' S POLICY
SCHEDULE B
Policy No. : 1093-40061
This policy does not insure against loss or damage by reason of the
following:
GENERAL EXCEPTIONS :
1 . Rights or claims of parties in possession not shown by the public
records .
2 . 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 . Taxes or special assessments which are not shown as existing liens
by the public records .
8 . Any service, installation, connection, maintenance, capacity, or
construction charges for sewer, water, electricity or garbage
removal .
9 . Indian tribal codes or regulations, Indian treaty or aboriginal
rights, including, but not limited to, easements or equitable
servitudes .
SPECIAL EXCEPTIONS :
As on Schedule B, attached.
(continued)
Policy No . : 1093-40061
A.L.T.A. OWNER' S POLICY
SCHEDULE B
Page 2
SPECIAL EXCEPTIONS :
1 . RESTRICTIONS CONTAINED IN INSTRUMENT :
RECORDED: November 3 , 1989
RECORDING NUMBER: 8911031491
INCLUDING BUT NOT LIMITED
TO THE FOLLOWING: Subject to rights of the public in
and to that portion of said premises
lying with 100th Avenue Southeast
2 . AGREEMENT AND THE TERMS AND CONDITIONS THEREOF:
BY AND BETWEEN: E . Wayne Ludeman and Water District
Number 58 , King County, Washington
DATED : March 30 , 1967
RECORDED: July 24 , 1967
RECORDING NUMBER: 6207795
REGARDING: Water service
3 . AGREEMENT AND THE TERMS AND CONDITIONS THEREOF:
BY AND BETWEEN: Marjorie R. Lueder and Wayne Lueder
and Water District Number 58 , King
County, Washington
DATED: May 2 , 1970
RECORDED: May 18 , 1970
RECORDING NUMBER: 6651271
REGARDING: Water service
4 . RIGHT TO MAKE NECESSARY SLOPES FOR CUTS OR FILLS UPON PROPERTY
HEREIN DESCRIBED AS GRANTED IN DEED:
RECORDED : March 25 , 1970
RECORDING NUMBER: 6633419
GRANTEE : King County
(continued)
Policy No . : 1093-40061
SCHEDULE B
Page 3
5 . GENERAL AND SPECIAL TAXES AND CHARGES : FIRST HALF DELINQUENT MAY 1,
IF UNPAID: SECOND HALF DELINQUENT NOVEMBER 1, IF UNPAID :
YEAR: 1998
TAX ACCOUNT NUMBER: 062205-9126-03
LEVY CODE : 1521
CURRENT ASSESSED VALUE : Land: $106 , 000 . 00
Improvements : $138 , 000 . 00
GENERAL TAXES :
AMOUNT BILLED: $3 , 836 . 34
AMOUNT PAID : $1 , 918 . 17
AMOUNT DUE : $1, 918 . 17
SPECIAL DISTRICT :
AMOUNT BILLED: $5 . 00
AMOUNT PAID: $2 . 50
AMOUNT DUE : $2 . 50
END OF SCHEDULE B
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PACIFIC NORTHWF_S'I' TITLE ComPANY NORTH
Formerly Steyvart Title Company
Order No. ����`_
IMPORTANT: 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 SOUTH
reliance hereon.
PACIFIC NORTHWEST TITLE
Company of Washington, Inc.
City of Kent/Parks Department
220 Fourth Avenue South, 4th Floor
Kent , Washington 98032
Attention: Helen Wickstrom
Order No . : 339975
Your Ref . : City of Kent
Enclosed is your Policy for Title Insurance on the above-referenced
transaction.
Thank you for the opportunity of serving you . We look forward to
working with you again.
Mike Sharkey
Senior Title Officer
Unit 12
1201 Third Avenue r Suite 3800 A Seattle, WA 98101-3055 A (206) 622-1040 A Fax: (206) 343-1358
http://pnwt.com
June 10, 1998
TO: Jerry McCaughan, Property Manager
Brenda Jacober, City Clerk
FROM: Helen, Wickstrom, Project Manager
SUBJECT: Title Report for Chestnut Ridge Park(Estes Property)
As promised when I sent you the fact sheet on this recent purchase, here is a copy of the
title report for the property we recently purchased for a neighborhood park in the
Chestnut Ridge area.