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HomeMy WebLinkAboutAD1996-0207 - Original - Jack B. and Barbara J. Keck - Purchase of 855 West Smith Street - 05/03/1996 REAL ESTATE PURCHASE AND SALE AGREEMENT Kent, Washington May 3, 1996 City of Kent, a Washington Municipal Corporation (hereafter Purchaser), of 220 - 4th Avenue South, Kent, WA 98032 does hereby agree to purchase and JACK B. AND BARBARA J. KECK, husband and wife, (Seller) of 855 East Smith Street, Kent, WA 98031 do hereby agree to sell the property described hereafter to the Purchaser on the following terms and conditions: TERMS OF SALE 1. PARCEL TO BE SOLD. Seller agrees to sell the following real estate located in the County of King, tate o as ington,Tegally described as: See attached EXHIBIT A It is agreed between the parties, so as to assure that the legal description is accurate, that the closing agent may substitute into the closing documents the legal description set out in the title company preliminary commitment. The parcel described above is hereinafter at times referred to as "the Premises" or "Premises" 2. PURCHASE PRICE-EARNEST MONEY. The purchase price is TWO HUNDRED THIRTY AND FIFTY DOLLARS ($234,950.00), payable as follows: Earnest money (The Escrow Fund) in the amount of FIVE THOUSAND DOLLARS ($5,000.00) in the form of a City of Kent purchase order. The purchase order will be converted to a check and delivered to the closing agent on or before May 23, 1996. The balance of the Purchase Price inclusive of the earnest money deposit shall be paid in full at closing. 3. TITLE INSURANCE. Purchaser has obtained a preliminary commitment for a standard form owners policy of title insurance in the amount of the purchase price from Washington Title Company (The Title Company) showing the owner as the named insured. The title company shall cause a copy of the preliminary commitment and all supplementals thereto to be sent to Peter Curran, KECK.PS3 1 P.O. Box 140, Kent, WA 98035, to the City of Kent, 220 - 4th Avenue South: Attn Helen Wickstrom and to the closing agent. Seller shall deliver to Purchaser good and marketable title, free and clear of all liens and encumbrances except those agreed to by Purchaser. a. This policy shall be at the expense of the Seller provided that Purchaser shall pay the cancellation fee, if any. b. Purchaser will review the exceptions disclosed in the preliminary commitment issued by the title company under order #R102303-1 and notify Seller's Attorney by May 10, 1996 that it finds the condition of title, as disclosed in the preliminary commitment which is attached hereto as Exhibit D, to be unacceptable. 4. TITLE-CONVEYANCE BY SELLER. Upon closing of escrow, title to the Premises shall be conveye y e er to Purchaser y a u y executed Statutory Warranty Deed. Title shall be in fee and insurable as free and clear of all liens, encumbrances, exceptions, and reservations other than the following: a. Non-delinquent real property taxes (whether general or specific); b. Standard Printed Exceptions in the title policy; C. Exceptions 1, 2 and 3 of Schedule B of the title company preliminary commitment, a copy of which exceptions are attached hereto as Exhibit B. d. Encroachments. Purchaser understands that there is an encroachment along the north li—ne-of the premises involving a fence which was put in place by the north line neighbor many years ago. Purchaser also understands that a neighbor, whose residence fronts on the easement allowing ingress and egress to and from the premises, has recently placed a fence into a position which appears to be inside of the easement right of way described in Exhibit A. 5. PRORATION. As applicable, taxes and utilities shall be prorated as of date of closing. 6. HAZARDOUS WASTE. Seller states that to the best of his knowledge, the premises have not at any time been used for the generation, transportation, management, handling, treatment, storage, manufacture, emission, disposal, or deposit of any hazardous waste or substances, or fill or other material containing hazardous waste or substances. Seller states he has no knowledge as to any hazardous wastes or materials on the property. Seller has removed the Under Ground Storage Tanks known to Seller that were on the property and does not believe that there are any others on the property. KECK.PS3 2 7. CLOSING COSTS. Seller and Purchaser shall each pay one-half of the escrow fee. Seller shall pay the excise tax and the cost of a standard form title insurance premium. Other incidental costs of closing shall be paid by the party benefitting from the expense. 8. CLOSING-TERMINATION DATE. The parties shall deposit this Agreement and such other documents and monies, as are required Hereby, into an escrow established at Accountable Escrow, 1048 West James Street, Suite 102, Kent, WA 98032. This sale shall close on or before June 3, 1996 which shall be the termination date of this agreement. 9. "DATE OF CLOSING" DEFINED. The "date of closing" shall be construed as the date upon which all appropriate documents are recorded and proceeds of this sale are available for disbursement to the Seller. 10. ADDENDUM. Any addendum hereafter attached hereto and signed by the parties shall be deemed a part Te—re o . 11. ATTORNEYS FEES. The parties shall be responsible for their own Attorneys Fees arising out of any dispute involving this agreement. 12. TIME OF PERFORMANCE. Time is of the essence of this agreement. 13. COMMISSION. Seller agrees to pay a commission of 7% of the first $100,000.00 of the Purchase Price and Mo of the balance which total commission is to be distributed by the closing agent to Michele Coen Brennan and Windermere Realty per the listing agreement. No other Agent was involved in the arrangement of this sale. Michele Coen Brennan and Windermere Realty represented the interests of the Seller only and both the Seller and Purchaser see no conflict of interest conduct by Michele Coen Brennan or Windermere Realty and hereby waive any all claims in that regard. 14. AUTHORITY. Purchaser and Seller represent and warrant that each has the full right,power and authority to execute this Agreement and perform the obligations under this Agreement. 15. FEASIBILITY- ACCESS TO PROPERTY-AS IS PURCHASE. a. Access. It is understood and agreed that Purchaser and Purchaser's agents, representatives, engineers, surveyors, etc., shall have the right, from time to time, from and after the date of this Agreement, to enter upon the subject property for the purposes of inspection, soil studies, survey, preparations of plans, taking of measurements and obtaining such information and data as may be necessary or desirable to determine the conditions of the property and its acceptability for the Purchaser's intended purpose. Purchaser shall indemnify, defend and hold Seller harmless of and from all claims which arise from KECK.PS3 3 Purchaser entering upon property and performing such tests and studies. Purchaser agrees to restore the property upon completion of the studies. Purchaser shall arrange with Seller directly upon reasonable notice for any entry into the residence and outbuildings on the property. b. Feasibility Condition. Purchaser reserves the right to terminate this agreement based upon Purchasers dissatisfaction with the suitability of the premises for the purposes intended, because of the condition of the property or upon failure of the Kent City Council to approve the purchase. Purchaser shall notify Seller in writing by or before May 23, 1996 that Purchaser declines to proceed with the purchase, and in the event Purchaser fails to give such notice in a timely fashion, this condition is waived by Purchaser. Upon receipt of such notice the closing agent shall release to the Purchaser its Purchase Order. It is understood and acknowledged by the Seller that Purchasers obligation to Purchase under this agreement is subject tot e approval ot the Kent City ounce . c. As Is Sale: Purchaser does hereby waive the disclosure requirements of RCW 64.06. 16. FOREIGN PERSON REGULATIONS. The parties agree to comply in all respects with the provisions ot internalRevenue Code Section 1445 and the regulations issued thereunder regarding the vesting of the title to real estate in foreign person and to cooperate with the closing agent in that regard. 17. ENTIRE AGREEMENT. All understandings and agreements previously existing between the parties, if any, are merged into this Agreement, which alone fully and completely expresses their agreement, and the same is entered into after full investigation, neither party relying upon any statement or representation made by the other not embodied herein. This Agreement may be modified only by a written amendment executed by all parties. 18. 1031 EXCHANGE. Seller does not intend to pursue a 1031 Exchange. 19. PERSONAL PROPERTY. The following items are included in the sale unless noted otherwise: linoleum, window screens, screen doors, plumbing and light fixtures (except floor, standing and swag lamps), attached cabinets and drawers, attached television antennas, attached carpeting, trees, plants and shrubs in the yard, built-in appliances, shades, Venetian blinds, curtain rods, all attached bathroom fixtures, large unattached carpet in living room, refrigerator in kitchen, attached apparatus and fixtures, awnings, ventilating, heating and cooling systems, all outbuildings, barns, garages and their attached fixtures, shelving and other appurtenances, attached irrigation equipment, and any oil or other fuel on hand at time of possession, unless otherwise specified Any personal property of value left in the premises by the Seller shall become the property of the urchaser after . . 0SSes, KEC .PS3 i � 4 5) I 20. RELEASE AND INDEMNITY. a. Purchaser and its representatives, prior to the date of closing of escrow, will have been afforded the opportunity to make such inspections of the Premises and matters related thereto as Purchaser and its representatives desire. Purchaser acknowledges and agrees that the Premises is to be sold and conveyed to and accepted by Purchaser in an"as is"condition with all faults. Except as specifically provided in Paragraph 6, Seller makes no representations or warranties of any kind whatsoever, either express or implied, with respect to the Premises. Purchaser acknowledges that it is entering into this Agreement on the basis of Purchaser's own investigation of the conditions of the Premises. Purchaser acknowledges that notwithstanding any prior or contemporaneous oral or written representations, statements, documents or understandings, this Agreement constitutes the entire understanding of the parties with respect to the subject matter hereof and the purchase and sale of the Premises and supersedes any such prior or contemporaneous oral or written representations, statements, documents or understandings. b. NVurchaser, for itself, its successors and assigns, hereby waives, releases, remises, acq and forever discharges Seller of and from any and all claims, suits, 4cti causes o tion, demands, rights, damages, costs, expenses, penalties, fines or compensation atsoever, direct or indirect, which Purchases n"ow has or which Purchaser may hav ' the future on account of or in way arising out of or in - " connection with known o nknown conditions � e Premises,or any federal, state or local law, ordinance applica there c. From and after closing, Pu aser shall, le maximum extent permitted by law, p defend and save har ss Seller, its affiliates; 'r employees, agents, officers, successors and gns, from and the any and all su► ctions, causes of actin , legal or ad inistrative proceedings,claims,demands,fines,,puniti�c�damages, losses, costs, ilities and expenses, including attorney's fees, in any way aflst�out of or c ected with the known or unknown condition of any kind of the Premisesor any ederal, state or local law applicable thereto. 21. REPRESENTATIONS AND WARRANTIES. Seller represents and warrants to Purchaser as follows: a. Violations of Law. Seller has received no oral or written notice from any governmental entity or representative :hereof of any violation of any applicable law, ordinance, rule, regulation or requirement of any governmental agency relating to the Premises. KECK.PS3 5 b Litigation. Seller has no actual, current knowledge of any pending actions, suits or procee ►ngs against or involving the Premises (including without limitation, any condemnation or eminent domain proceedings). c. Survival. The representations and warranties of Seller set forth in this Section 9 shall survive tile closing for a period of two years only and shall thereafter be of no further force and effect. 22. DEFAULT; LIQUIDATED DAMAGES. In the event the sale and purchase of the Premises shall a► to - ose as set forth in Section 8 because of any default of purchaser hereunder without legal excuse, the escrow fund shall be forfeited to the seller as the sole and exclusive remedy available to seller and as liquidated damages for such default by purchaser, and this agreement shall be without any further force and effect, and without further obligation of either party to the other. Seller's actual damages in the event of such default by purchaser would be difficult or impossible to ascertain, and further, purchaser desires to limit its liability to seller in the event the sale and purchase of the Premises shall fail to close because of any default of purchaser hereunder. 23. NOTICES. Notices to Seller shall be mailed to the Seller at 855 East Smith, Kent, WA 98031 or m faxed to Sellers attorney, Peter Curran at 1-206-852-9389. Notices to Purchaser may be faxed to Purchaser at 859=3983 or mailed to purchaser at 220 4th Avenue South, Kent WA 98032. 24. ASSIGNMENT. Purchaser shall not assign this agreement. 25. AGENCY. Michele Coen Brennan of Windermere R.E. South is the sole agent acting on this mattertteranU-sTie represents only the Seller. 26. POSSESSION. Purchaser shall have the right to possession on the 91st day following closing. Purchaser hereby grants to the Seller the right to continue in occupancy for 90 days after closing rent free. The parties will sign at closing the rental agreement which is attached hereto and marked as EXHIBIT C. 27. 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. KECK.PS3 6 PURCHASER: SELLER: CITY OF KENT A WASHINGTON �JAC7KB. K AND BARBARA J. KFCK MUNIC COKP,6 A�IONBy: �� �y� By: ��� ; y �� er" Jack . Keck J' , Ma _ DATED:_ By• Barbara J. Keck DATED: AP R V wmw�- -'ROGW A. LUftPOVICH, KECK.PS3 7 EA BIT "A" That portion of Government Lot 1 in Section 19, Township 22 North, Range 5 East, W.M., in King County, Washington, described as follows: Beginning at the intersection of the northerly tine of Smith Street, in the City of Kent, as the same existed on September 11, 1963 with the centerline of vacated Calhoun Way; thence easterly along the northerly line of Smith Street to an intersection with a line parallel with and 120 feet west from the west line of Hazel Street as the same existed on September 11, 1963; thence north along said parallel line 231 feet, more or less, to an intersection with a line parallel with and 140 feet south of the centerline of Temperance Street, as the same existed on September 11, 1963; thence west along said parallel line to the centerline of vacated Calhoun Way; thence south along said center line to the point of beginning; EXCEPT that portion thereof lying westerly of a line 135 feet east of and parallel to the east line of an alley in the City of Kent as established by Ordinance Number 698 and recorded in Volume 1857 of Deeds, page 285, under Recording Number 3089989, in King County, Washington; ALSO EXCEPTING THEREFROM that portion condemned in King County Superior Court Cause Number 84-2-01623-0 for widening portions of East Smith Street (Canyon Drive/State Route 516), as provided in City of Kent Ordinance Number 2453, recorded under Recording Number 8403050098; ALSO EXCEPTING THEREFROM that portion condemned in King County Superior Court Cause Number 90-2-18649-1 for widening, construction and improvement of Canyon Drive, as provided in City of Kent Ordinance Number 2844, recorded under Recording Number - 8905020847; TOGETHER WITH an easement for alley purposes over the west 20 feet of the following described property: That portion of the west half of the northwest quarter of said Section 19 described as follows: Beginning at a point on the west line of Hazel Street as now established, 148.5 feet north of the intersection of said west line with the north line of Smith Street as now established; thence west 120 feet parallel with the south line of Temperance Street; thence north parallel with the west line of Hazel Street, 210.5 feet, more or less, to the south line of Temperance Street; thence east 120 feet along said south line to [he intersection thereof with the west line of Hazel Street; thence south along said west line, 210.5 feet, more or less, to the point of beginning. EXHIBIT SCHEDULE B Schedule B of the policy or policies to be issued will contain exceptions to the following matters unless the same are disposed of to the satisfaction of the Company: GENERAL EXCEPTIONS: A. Rights or claims disclosed only by possession,or claimed possession,or the premises. B. Encroachments and questions of location, boundary and area disclosed only by inspection of the premises or by survey. C. Easements, prescriptive rights, rights-of-way, streets, roads, alleys or highways not disclosed by the public records. D. Any lien, or right to a lien, for contributions to employee benefit funds, or for state workers' compensation, or for services, labor, or material heretofore or hereafter furnished, all as imposed by law, and not shown by the public records. E. Taxes or special assessments which are not yet payable or which are not shown as existing liens by the public records. F. Any service, installation, connection, maintenance, tap, capacity or construction charges for sewer, water, electricity, natural gas or other utilities, or garbage collection and disposal. G. Reservations and exceptions in United States Patents or in Acts authorizing the issuance thereof. it. Indian tribal codes or regulations, Indian treaty or aboriginal rights, including cascmcnts or equitable servitudes. 1. Water rights, claims or title to water. J. 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 of record for value the estate or interest or mortgage thereon covered by this commitment. SPECIAL EXCEPTIONS: l. Easement for grading of street slopes, as necessary, over portion of premises adjoining-any street or alley as condemned in King County Superior Court Cause Number 84-2-01623-0. As provided by City of Kent Ordinance under Recording Nunibcr 8403050093. 2. AN EASEMENT AFFECTING A PORTION OF SAID PREMISES FOR THE PURPOSES STATED THEREIN: IN FAVOR OF: Washington Natural Gas Company, a Washington corporation FOR: Non-exclusive rights for a gas pipeline or pipelines and incidental purposes DISCLOSED BY INSTRUMENT RECORDED: February 25, 1988 RECORDING NUMBER: 8802250846 AFFECTS: 5 feet wide and located parallel to and adjoining the north line of Smith Street, as now established i Commitment No. R102303-1 3. EASEMENT AND THE TERMS AND CONDITIONS THEREOF: IN FAVOR OF: City of Kent - CONDEMNED IN KING COUNTY SUPERIOR COURT CAUSE NUMBER: 90-2-1 8649-1 (and as provided in City of Kent Ordinance under Recording Number 8905020847) PURPOSE: Construction, maintenance and other incidental purposes AREA AFFECTED: A southerly portion of said premises 4. Title is to vest in persons not yet revealed and when so vested will be subject to matters disclosed by a search of the records against their names. 5. DEED OF TRUST, AND THE TERMS AND CONDITIONS THEREOF: GRANTOR: Jack B. Keck and Barbara J. Keck, husband and wife TRUSTEE: U.S. Bank of Washington, National Association BENEFICIARY: U.S. Bancorp Mortgage Company ADDRESS: 555 Southwest Oak Street, Portland, OR 97204 LOAN NO.: 1365091 AMOUNT: $100,000.00 DATED: June 16, 1988 RECORDED: June 21, 1988 RECORDING NO.: 8806210953 THE BENEFICIAL INTEREST OF SAID DEED OF TRUST HAS BEEN ASSIGNED: TO: U.S. Bank of Washington ADDRESS: Not disclosed RECORDING NO.: 9.009270077 4 coNnMM Exhir t E APR 26 'a6 14:43 FR WA TITLE!RENTON 206 255 0225 TC P,02i02 [• IS ' } P o = I 2 a F 13 ,�T iiD 14 rt1 a TEMPERANCE u.c.eo.r c� -rm S71?� ,vs►. is J'sz/oe 7ps� n rah r i� I� Ua, a � d S4 > I �9� i3 AV ii / tv -p v }IZs1 10 \ I0�' • Ili IV t} $ _ _Q'"��s,. "' '►-r SMITH �4 r � .p tom• n 1 , �� - rEMErERY `Jam, 1r !ir � ir•1Ar � -'`-�� G bry II su �. 4� „PO 7 ?7 ti EXHIBIT 177 That portion of Government Lot 1 in Section 19, Township 22 North, Range 5 East, W.M., in King County, Washington, described as follows: Beginning at the intersection of the northerly line of Smith Street, in the City of Kent, as the same existed on September 11, 1963 with the centerline of vacated Calhoun Way; thence easterly along the northerly line of Smith Street to an intersection with a line parallel with and 120 feet west from the west line of Hazel Street as the same existed on September 11, 1963; thence north along said parallel line 231 feet, more or less, to an intersection with a line parallel with and 140 feet south of the centerline of Temperance Street, as the same existed on September 11, 1963; thence west along said parallel line to the centerline of vacated Calhoun Way; thence south along said center line to the point of beginning; EXCEPT that portion thereof lying westerly of a line 135 feet east of and parallel to the east line of an alley in the City of Kent as established by Ordinance Number 699 and recorded in Volume 1857 of Deeds, page 285, under Recording Number 3089989, in King County, Washington; ALSO EXCEPTING THEREFROM that portion condemned in King County Superior Court Cause Number 84-2-01623-0 for widening portions of East Smith Street (Canyon Drive/State Route 516), as provided in City of Kent Ordinance Number 2453, recorded under Recording Number 8403050098; ALSO EXCEPTING THEREFROM that portion condemned in King County Superior Court Cause Number 90-2-18649-1 for widening, construction and improvement of Canyon Drive, as provided in City of Kent Ordinance Number 2844, recorded under Recording Number - 8905020847; TOGETHER WITH an easement for alley purposes over the west 20 feet of the following described property: That portion of the west half of the northwest quarter of said Section 19 described as follows: Beginning at a point on the west line of Hazel Street as now established, 148.5 feet north of the intersection of said west line with the north line of Smith Street as now established; thence west 120 feet parallel with the south line of Temperance Street; thence north parallel with the west line of Hazel Street, 210.5 feet, more or less, to the south line of Temperance Street; thence east 120 feet along said south line to the intersection thereof with the west line of Hazel Street; thence south along said west line, 210.5 feet, more or less, to the point of beginning. Commitment No. R102303-1 SCHEDULE B Schedule B of the policy or policies to be issued will contain exceptions to the following matters unless the same are disposed of to the satisfaction of the Company: GENERAL EXCEPTIONS: A. Rights or claims disclosed only by possession,or claimed possession,of the premises. B. Encroachments and questions of location, boundary and area disclosed only by inspection of the premises or by survey. C. Easements, prescriptive rights, rights-of-way, streets, roads, alleys or highways not disclosed by the public records. D. Any lien, or right to a lien, for contributions to employee benefit funds, or for state workers' compensation, or for services, labor, or material heretofore or hereafter furnished, all as imposed by law, and not shown by the public records. E. Taxes or special assessments which are not yet payable or which are not shown as existing liens by the public records. F. Any service, installation, connection, maintenance, tap, capacity or construction charges for sewer, water, electricity, natural gas or other utilities, or garbage collection and disposal. G. Reservations and exceptions in United States Patents or in Acts authorizing the issuance thereof. H. Indian tribal codes or regulations, Indian treaty or aboriginal rights, including easements or equitable servitudes. I. Water rights, claims or title to water. J. 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 of record for value the estate or interest or mortgage thereon covered by this commitment. SPECIAL EXCEPTIONS: 1. Easement for grading of street slopes, as necessary, over portion of premises adjoining any street or alley as condemned in King County Superior Court Cause Number 84-2-01623-0. As provided by City of Kent Ordinance under Recording Number 8403050098. 2. AN EASEMENT AFFECTING A PORTION OF SAID PREMISES FOR THE PURPOSES STATED THEREIN: IN FAVOR OF: Washington Natural Gas Company, a Washington corporation FOR: Non-exclusive rights for a gas pipeline or pipelines and incidental purposes DISCLOSED BY INSTRUMENT RECORDED: February 25, 1988 RECORDING NUMBER: 8802250846 AFFECTS: 5 feet wide and located parallel to and adjoining the north line of Smith Street, as now established 3 CONnNVED i Commitment No. R102303-1 3. EASEMENT AND THE TERMS AND CONDITIONS THEREOF: IN FAVOR OF: City of Kent - CONDEMNED IN KING COUNTY SUPERIOR COURT CAUSE NUMBER: 90-2-18649-1 (and as provided in City of Kent Ordinance under Recording Number 8905020847) PURPOSE: Construction, maintenance and other incidental purposes AREA AFFECTED: A southerly portion of said premises 4. Title is to vest in persons not yet revealed and when so vested will be subject to matters disclosed by a search of the records against their names. 5. DEED OF TRUST, AND THE TERMS AND CONDITIONS THEREOF: GRANTOR: Jack B. Keck and Barbara J. Keck, husband and wire TRUSTEE: U.S. Bank of Washington, National Association BENEFICIARY: U.S. Bancorp Mortgage Company ADDRESS: 555 Southwest Oak Street, Portland, OR 97204 LOAN NO.: 1365091 AMOUNT: $100,000.00 DATED: June 16, 1988 RECORDED: June 21, 1988 RECORDING NO.: 8806210953 THE BENEFICIAL INTEREST OF SAID DEED OF TRUST HAS BEEN ASSIGNED: TO: U.S. Bank of Washington ADDRESS: Not disclosed RECORDING NO.: 9.009270077 J 4 caKnNUED Commitment No. R102303-1 6. GENERAL AND SPECIAL TAXES AND CHARGES: First half delinquent May 1, Second half delinquent November l: YEAR: 1996 GENERAL TAXES: AMOUNT BILLED: $3,111.75 AMOUNT PAID: $0.00 AMOUNT DUE: $3,111.75 SPECIAL DISTRICT: AMOUNT BILLED: $1.25 AMOUNT PAID: $0.00 AMOUNT DUE: $1.25 TAX ACCOUNT NUMBER: 192205-9105-03 LEVY CODE: 1525 CURRENT ASSESSED VALUE: Land: $56,700.00 Improvements: $138,900.00 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 1.53%. END OF SPECIAL EXCEPTIONS NOTES: A. The records of King County and/or our inspection indicate that the address of the improvement located on said land is: 855 East Smith Street Kent, Washington 98031 According to the King County Tax Rolls the dwelling was built 1907. B. In the event the transaction fails to close and this commitment is cancelled, a fee will be charged to comply with the State Insurance Code and the filed schedule of this Company. 5 CONTfNUED Commitment No. R102303-1 C. All matters have been cleared for ALTA Extended Policy coverage and/or Homeowners Endorsement coverage. D. The Loan Policy to be issued will contain a Form 8.1 (Environmental Protection Lien) Endorsement. E. We find no adverse matters affecting the names) of Jack B. Keck and Barbara J. Keck, husband and wife, in the King County, records. END OF SCHEDULE B COMMITMENT PROVISIONS, CONDITIONS AND STIPULATIONS AS HERETO ATTACHED 6 CONTTNUED Commitment No. R102303-1 COMMITMENT FOR TITLE INSURANCE TICOR TITLE INSURANCE COMPANY, a California corporation, by Washington Title Company, a Washington corporation, its authorized agent, herein called the Company, for a valuable consideration, hereby commits to issue the policy 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 therefor; all subject to the provisions of Schedules A and B and to the Conditions and Stipulations hereof. 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 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 one hundred eighty (180) days 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. WASHINGTON E , as Agent By: Authorized Signatory 7 wwwZOr m >. to0y�ZW� 0 Nw(!7�~ _ a N -J ¢z0ow Q �p Y = o o�o a o o O Q LL rw� �r � Q C) O vi aQwv¢iw a U O O O N , CD — .. C� �_ ; O Q <¢o�O m W -- m m 10, U a '�ee Y- i.i CD cccc UwWQ� V q. �, y W d>Q�Z 0 = O ¢ o a Jfn�LLZ U C Z N J DOU LL = C. Q� Q. �¢n Z ul W } W O f i �+ LL > H w O¢ U) W Q z maZOZtm O QQ ¢2wcDzQ r -a O o _: _ a ~ _~W}Z � - - -- cc O FLLO�¢LD > Q rn U OZw wOQ Z ��8 n� m a - —�- L ODq Q - aF- cOui=ao O. Q -- r -- — -- LL _n w OZQ ¢: _.~aOwDcn Yaz w cw 0I a O cc a F- n Co vi~w N w k °: u Um¢ d = Y p¢O 0 0 2 L _ zww p c y t �¢U ZQo a� q O I— 00� N rE ¢dwO 'm j UImlu o ° y © U t�- - �I cc�o 3` z cwi> ( 0 L Q Q >> ro J r Q+z Q J d L 0 0 -0 OwQa ,� s uwi woo O AC w GC d o w = .Mr ro C idoz 4�iw� D p � � Cl) C! ws�0 a w:; cc to C Cal Savo ,n t3 O�tCD in co �I O Ln oz . - � z w� Na k? Q —} -- CQ ZC'3 �> ❑U. � Y w=Co � i Z - >(n_ U) O Q a C' c - — _�=Z N u. f7 } vf-UO F- 0zQ0 c� �' rn •� " • U NYaQ r In s, s; d > > c SENT BY:Xerox Telecopier 7020 3-96 ; 2:53PM ; 2068521130-► 206 859 3983;# 2 EXHIBIT G RENTAL AGREEMENT WHEREAS CITY OF KENT, a MUNICIPAL CORPORATION ("Purchaser") and JACI B. AND 8 BARA J KECK("seller") have heretofore entered into a PURCHASE AND ISALi I AGREEMENT dated May_1996,concerning the house and lot at 855 W SMITH Street,Kent WA� 98031 ("the remises")which is fully described on Exhibit A to the Purchase and Sale. WHEREAS Sellers desire to continue to occupy the house after the closing of the sal • it i therefore AGRE ED between Purchasers and sellers that Purchaser does hereby rent the house lo th d tv pyrQWers on the following terms and conditions: 'a TE RM. This rental shall extend for a period of 90 days after the date of closing of th sale; 5e erS of this properly to the, ' r provided that seller may at any time on 3 days notice to Purchaser terminate occupancy, b ' 2. RENT. Seller shall pay no rent during the term of the occupancy. 3. INSURANCE. Seller shall maintain such tenant insurance as they deem necessary t protect their i iterest in their possessions and personal property of any kind located on or withi a the premises as well as the risks which may arise from their acts during occupancy. Seller shall maintain the premises on Sellers existing Comprehensive General Liability Policy and shall name the Purchaser as in additional named insured during the period of occupancy of the premises. With 1 SENT BY:Xerox Telecopier 7020 , 5— 3-96 , 2.' 54hM , 2068b22030- 206 559 39834 3 respect to fi a and extended coverage insurance on the premises, it shall be up to Purch er t maintain su h insurance from and after closing as well as coverage, if Purchaser wishes to o so for the perso al property passing to Purchaser as part of this sale. 4. U LITIES. Seller agrees to pay for all utilities, including, but not limited t , oil electrical,water,gas,sewer,metro,garbage,telephone and any other service of any kind used t y the seller during occupancy and any such amounts to be paid by seller shall be pro-rated between the parties after cl osing with respect to such payments made by Seller which apply to unexpired portion of any billing period. 5. I ROVEMENTS-MAINTENANCE. Seller shall secure Purchasers permission prio to making any improvements or alterations to the property during the term of occupancy. Sellei shall return the house and all of the personal property remaining with the premises as the property of Purchaser n as good a condition as it presently is, ordinary wear and tear excepted. 7. ASSIGNMENT OF LEASE. Seller agrees not to assign this lease, or subs t the whole, or any part of, the premises without the written consent of the Purchaser. 8. DEFAULT AND RE-ENTRY. If seller shall default upon any of the covenafiti andl agreements h rein contained, then Purchaser may terminate this lease upon giving the notice rck 'red, by law and re enter said premises. Should the Seller hold-over after the 90th day, as discuss d in Paragraph 1 herein, without arranging an extension agreement with Purchaser, by contintdrig to occupy the premises after the 90 day period, then rent in the amount of $25.00 per day hall commence on the 91st day after closing. 9. WAIVER OF SUBROGATION RIGHTS. Seller and Purchaser hereby my ally release and di charge each other from all claims and liabilities arising from or caused by any liAzard 2 SENT BY:Xerox Telecopier ?02G 3_yG 2 54iM 068522030 206 859 3983:4 4 I covered by insurance on the leased property, or covered by insurance in connection with pro Derty on or activitic s conducted on the leased premises, regardless of the cause of damage or loss. 10. TTORNEY'S FEES. In the event of a.dispute between the parties in regard to this agreement, the parties shall be responsible for their own attorneys fees. 11. DIATION-ARBITRATION. The parties agree to resolve any dispute between them arising out of this agreement by first mediating the issue(s) in dispute and if the mediation eff xt is' not successful then to Arbitrate the matter to resolution in a binding arbitration procedure: The decision of t ie Arbitrator may be filed into King County Superior Court as a judgme t by application o either party. The Mediation and, if necessary, the Arbitration procedure shall be submitted to Washington Arbitration and Mediation Services , Inc (WAMS). And be resole in accordance w th the Mediation-Arbitration Rules of WAMS. DATE D as of the day of 119 . I u ser: Seller G r s �t of Kent. ated: � � Jack B. Keck. Dated: I arbara J. Keck Dated: I i 3 i . E x h i_bi t Q WASHINGTON TITLE COMPANY 15 S. Grady Way, Suite 120, Renton, Washington 98055 (206)255-7575 FAX (206)255-0285 (800)215-8404 COMMITMENT FOR TITLE INSURANCE NO. R102303-1 INQUIRIES SHOULD BE MADE TO: Customer Reference: Unit 1 - 255-7472 Seattle (206) 682-5269 Keck Fred Marquiss, Sr. Title Officer Angie Fleck, Title Officer Effective Date: March 11, 1996 at 8:00 a.m. SCHEDULE A 1. Policy or policies to be issued: 1992 ALTA Owner's Policy Coverage : Standard Liability : $249,950.00 Premium : $581.00 PRIOR POLICY RATE Tax : $47.64 PROPOSED BUYER: TO FOLLOW 1992 ALTA Loan Policy ' Coverage : Extended Liability : TO BE DETERMINED. PROPOSED LENDER: TO FOLLOW 2. The estate or interest in the land described or referred to in this commitment and covered herein is a FEE SIMPLE. 3. Title to said estate or interest in said land is at the effective date hereof vested in: JACK B. KECK and BARBARA J. KECK, husband and wife 4. The land referred to in this Commitment is described as follows: (See attached Exhibit "A" for leval description) 1 coMTMlED v ADDENDUM TO REAL ESTATE PURCHASE AND SALE AGREEMENT The CITY OF KENT, a Washington Municipal Corporation (hereinafter Purchaser) and JACK B. KECK and BARBARA J. KECK, husband and wife (hereinafter Seller) hereby execute this Addendum to Real Estate Purchase and Sale Agreement dated May 3 , 1996 , as follows : The disclosure of potential encroachments as set forth in paragraph 4 (d) of the Real Estate Purchase and Sale Agreement dated May 3 , 1996 , shall survive the closing of the transaction contemplated in said Agreement without the necessity of the language being written into the Conveyance Deed. PURCHASER: SELLER: CITY OF KENT A WASHINGTON JACK B. KECK AND BARBARA J. KECK MUNICIPAL CORPORATION Christi Houser, Jack B . Keck Mayor fro tem DATED: �3 /- `i �, By Barbara J. Keck DATED : APPROVED AS FORM: A A. LUBOVICH, CITY ATTO Y� Escrow No. 96218 Estimated Close Date: June 31 1996 Report Print Date: May 28, 1996 Reference: 855 East Smith St. Page 1 Kent, WA 98031 Bu er ESTIMATED CLOSING STATEMENT BUYER: CITY OF KENT 220 4th Ave. S. Kent, WA 98032 DEBITS - - - - CREDITS - - CONSIDERATION: Total Consideration 234,950.00 DEPOSITS: Deposit 5,000.00 By: CITY OF KENT TITLE CHARGES: Record Statutory Warranty Deed 7.45 ESCROW FEES: 475.00 Escrow Fees 24.6 0 Sales Tax 0 175.00 Escrow Discount 230,282.05 Balance Due Escrow $ 235,457.05 $ 235,457.05 Totals NOTICE: This estimated closing statement is subject to changes, corrections or ad-ditions at the time of final computation of closing escrow statement. CITY OF KENT by May 13, 1996 Escrow No. 96218 NOTICE OF COMPLIANCE WITH A.P.R. 12 IN ACCORDANCE WITH THE REQUIREMENTS OF A.P.R. 12 OF THE SUPREME COURT OF THE STATE OF WASHINGTON, ACCOUNTABLE ESCROW, INC. AND THE LIMITED PRACTICE OFFICER SPECIFIED BELOW MUST INFORM YOU OF THE FOLLOWING: 1. The Limited Practice Officer is not acting as the advocate or representative of either of the parties; 2. That the documents prepared by the Limited Practice Officer will affect the legal rights of the parties; 3. The parties interests in the documents may differ; 4. The parties have the right to be represented by lawyers of their own selection; 5. The Limited Practice Officer cannot give legal advice as to the manner in which the documents affect the parties. The Limited Practice Officer is permitted to select, prepare and complete documents which have been approved by the Limited Practice Board for use in closing a loan, extension of credit, sale or other transfer of real or personal property. IF YOU HAVE ANY QUESTIONS REGARDING ANY DOCUMENT OR INSTRUMENT TO BE USED OR RELIED UPON IN THE CLOSING OF THIS TRANSACTION OR ANY QUESTIONS REGARDING YOUR RIGHTS, YOU SHOULD NOT SIGN BEFORE CONSULTING AN ATTORNEY OF YOUR CHOICE. IN THIS TRANSACTION, YOUR LIMITED PRACTICE OFFICER IS: SHERIAN GRIMES, LPO# 84. THE DOCUMENTS PREPARED IN THIS ESCROW ARE: STATUTORY WARRANTY DEED EXCISE TAX AFFIDAVIT 1099-S Please acknowledge receipt of the foregoing Notice of Compliance with A.P.R. 12 and that you have read the same by signing your name to the copy of this Notice on the signature lines below. (If such Notice has been hand delivered or mailed to you, please return the copy of the Notice showing your signature and date of signature in the enclosed return envelope.) BUYER(S) : SELLER(S) : CITY OF KENT �/ JACK B KECK BARBARA J KECK DATE DATE ACCOUNTABLE ESCROW, INC. 1048 W. James, suite 102 Rent, WA 98032 Escrow File No. 96218 File Name: CITY OF KENT / KECK CLOSING AGREEMENT AND ESCROW INSTRUCTIONS For Purchase and Sale Transaction The undersigned buyer and seller (referred to herein as "the parties") hereby designate and appoint ACCOUNTABLE ESCROW, INC. (referred to herein as "the closing agent") to act as their closing and escrow agent according to the following agreements and instructions. IT IS AGREED, AND THE CLOSING AGENT IS INSTRUCTED, AS FOLLOWS: Terms of Sale. The terms and conditions of the transaction which is the subject of these instructions (referred to herein as "the transaction") are set forth in the parties' Purchase and Sale Agreement, Earnest Money Agreement, or other written agreement, and any attachments, amendments or addenda to that agreement (referred to herein as "the parties' agreement" ) , which is made a part of these instructions by this reference. Any changes to the parties' agreement will be made a part of these instructions, without further reference, when signed by the parties and delivered to the closing agent. These instructions are not intended to amend, modify or supersede the terms and conditions of the parties' agreement and if there is any conflict or inconsistency between these instructions and the parties' agreement, the terms and conditions of the parties' agreement shall control. Description of Real Property. The real property which is the subject of the transaction (referred to herein as "the property" ) is identified in the parties' agreement. The documents required to close the transaction must contain the "legal description" of the property. If the parties' agreement does not yet contain the correct legal description, the parties or the real estate agent shall obtain an addendum setting forth the legal description as soon as possible and deliver it to the closing agent. Closing Date. The date on which the documents required to close the transaction are filed for record (referred to herein as the closing date") shall be on or before the date for closing of the transaction specified in the parties' agreement or in an addendum extending that date. Documents. The closing agent is instructed to select, prepare, complete, correct, receive, hold, record and deliver documents as necessary to close the transaction. The closing agent may request that certain documents be prepared or obtained by the parties or their attorneys, in which case the parties shall deliver the requested documents to the closing agent before the closing date. Execution of any document will be considered approval of its form and contents by each party signing such document. Deposits and Disbursements of Funds. Before the closing date, each party shall deposit with the closing agent all funds required to be paid by such party to close the transaction, less any earnest money previously deposited with the real estate agent. The closing agent is authorized, but not required, to consider a lending institution's written commitment to deposit funds as the equivalent of a deposit of such funds, if all conditions of the commitment will be met on or before the closing date. All funds received by the closing agent shall be deposited in one or more of its general escrow or trust accounts with any bank doing business in the State of Washington and may be transferred to any other such accounts. The closing agent shall not be required to disburse any funds deposited by check or draft until it has been advised by its bank that such check or draft has been honored. All disbursements shall be made by the closing agent's check. Settlement Statement. The closing agent is instructed to prepare a settlement statement showing all funds deposited for the account of each of the parties and the proposed disbursements from such funds. No funds shall be disbursed until the parties have examined and approved the settlement statement. Some items may be estimated, and the final amount of each estimated item will be adjusted to the exact amount required to be paid at the time of disbursement. The settlement statement will be subject to audit and any errors or omissions may be corrected at any time. If any monetary error is found, the amount will be immediately paid by the party liable for such payment to the party entitled to receive it. Pro-rations. Adjustments or pro-rations of real estate taxes, and other charges if any, shall be made on a per-diem basis using a 365 day year, unless the closing agent is otherwise instructed. Title Insurance. The closing agent is instructed to obtain and forward to the parties a preliminary commitment for title insurance on the property and on any other parcel of real property that will be used to secure payment of any obligation created in the transaction (referred to herein as "the title report" ) . The closing agent is authorized to rely on the title report in the performance of its duties and shall have no responsibility or liability for any title defects or encumbrances which are not disclosed in the title report. Verification of Existing Encumbrances. The closing agent is instructed to request a written statement from the holder of each existing encumbrance on the property, verifying Page 1 its status, terms, balance owing and, if it will not be removed at closing, the requirements that must be met to obtain a waiver of any due-on-sale provision. The closing agent is authorized to rely upon such written statements in the performance of its duties, without liability or responsibility for their accuracy or completeness. Instructions From Third Parties. If any written instructions necessary to close the transaction according to the parties' agreement are given to the closing agent by anyone other than the parties or their attorneys, including but not limited to lenders, such instructions are accepted and agreed to by the parties. Disclosure of Information to Third Parties. The closing agent is authorized to furnish, upon request, copies of any closing documents, agreements or instructions concerning the transaction to the parties' attorneys, and to any real estate agent, lender or title insurance company involved in the transaction. Other papers or documents containing personal or financial information concerning any party may not be released to anyone other than the party's attorney or lender, without prior written approval. Potential Legal Problems. If the closing agent becomes aware of any facts, circumstances or potential problems which in the closing agent's opinion should be reviewed by any of the parties' attorneys, the closing agent is authorized, in its sole discretion, to advise the parties of such facts, circumstances or potential problems and recommend that legal counsel be sought. Closing Agent's Fees and Expenses. The closing agent's fee is intended as compensation for the services set forth in these instructions. If additional services are required to comply with any change or addition to the parties' agreement or these instructions, or as a result of any party's assignment of interest or delay in performance, the parties agree to pay a reasonable additional fee for such services. The parties shall also reimburse the closing agent for any out-of-pocket costs and expenses incurred by it under these instructions. The closing agent's fees, costs and expenses shall be due and payable on the closing date or other termination of the closing agent's duties and responsibilities under these instructions, and shall be paid one-half by the buyer and one-half by the seller unless otherwise provided in the parties' agreement. Cancellation. These instructions may be canceled by a written agreement, signed by all the parties, and payment of the closing agent's fees, costs and expenses. Upon receipt of such agreement and payment, the closing agent shall return any money or documents then held by it to the parties that deposited the same, and shall have no further duties or responsibilities under these instructions. Inability to Comply With Instructions. If the closing agent receives conflicting instructions or determines, for any reason, that it cannot comply with these instructions by the date for closing specified in the parties' agreement or in any written extension of that date, it shall notify the parties, request further instructions, and in its discretion: (1) continue to perform its duties and close the transaction as soon as possible after receiving further instructions, or (2) if no conflicting instructions have been received, return any money or documents then held by it to the parties that deposited the same, less any fees and expenses chargeable to such party, or (3) commence a court action, deposit the money and documents held by it into the registry of the court, and ask the court to determine the rights of the parties. When the money and documents have been returned to the parties or deposited into the registry of the court, the closing agent shall have no further duties or responsibilities under these instructions. Disputes. Should any dispute arise between the parties, or any of them, and/or any other party, concerning the property or funds involved in the transaction, the closing agent may, in its sole discretion, hold all documents and funds in their existing status pending resolution of the dispute, or join or commence a court action, deposit the money and documents held by it with the court, and ask the court to determine the rights of the parties. Upon depositing said funds and documents with the court, the closing agent shall have no further duties or responsibilities under these instructions. The parties jointly and severally agree to pay the closing agent' s costs, expenses and reasonable attorney' s fees incurred in any lawsuit arising out of or in connection with the transaction or these instructions, whether such lawsuit is instituted by the closing agent, the parties, or any other person. Notices. Any notice, declaration or request made under these instructions shall be in writing, signed by the party giving such notice or making such declaration or request, and personally delivered or mailed to the closing agent and other parties at their addresses set forth in these instructions. Amendments. Any amendment, addition or supplement to these instructions must be in writing, signed by the appropriate parties and delivered to the closing agent. Counterparts. These instructions may be executed in one or more counterparts with like effect as if all signatures appeared on one copy. Effect. These instructions shall bind and benefit the parties, the closing agent, and their successors in interest. Definitions. When used herein or in any amendment, addition or supplement hereto, words and phrases are defined and are to be construed as follows: The words "buyer" and "seller" refer to all persons and entities identified as such by their signatures on this document, jointly and severally unless otherwise indicated, and shall be construed interchangeably with other similar terms such as "purchaser", "vendee", "vendor", "grantee" or "grantor" as may be appropriate in the context and circumstances to which such words apply. The word "lender" refers to any lending institution or other party, including the Page 2 seller if appropriate, that has agreed to provide all or part of the financing for the transaction or to which the buyer has made a loan application. The phrase "these instructions" refers to the agreements, instructions and provisions set forth in this document and all amendments, additions and supplements to this document. The phrase "the property" refers to the real property identified in the parties' agreement, including any other parcel of real property that will be used to secure payment of any obligation created in the transaction, and does not include any items of personal property unless otherwise specifically stated in these instructions. The phrase "outside of escrow" refers to any duty, obligation or other matter which is the sole responsibility of the parties or of any party, and for which the closing agent shall have no responsibility or liability. In these instructions, singular and plural words, and masculine, feminine and neuter words, shall be construed interchangeably as may be appropriate in the context and circumstances to which such words apply. MATTERS TO BE COMPLETED BY THE BUYER AND SELLER IMPORTANT - READ CAREFULLY The following items must be completed by the parties, outside of escrow, and are not part of the closing agent's duties under these instructions. Inspection and Approval of the Property. Any required inspections or approvals of the property or of improvements, additions or repairs to the property will be arranged and completed by the parties, outside of escrow. The closing agent shall have no liability with respect to the physical condition of the property, or any buildings, improvements, plumbing, heating, cooling, electrical, septic or other systems on the property, and no responsibility to inspect the property, or to otherwise determine its physical condition, or to determine whether any required improvements, additions or repairs have been satisfactorily completed. Personal Property. Any required inspections, approvals or transfers of possession of any owned or leased fixtures, equipment or other items of personal property included in the transaction, and payment of any personal property, sales or use taxes, will be completed by the parties outside of escrow. Unless otherwise instructed, the closing agent shall have no responsibility with respect to such personal property and shall not be required to determine the status or condition of the title to, encumbrances upon, ownership, or physical condition of such personal property, nor to calculate, pro-rate, collect, prepare returns for or pay any personal property tax, sales tax or use tax arising from the transaction. Utilities. All orders, cancellations, transfers, payments and adjustment of accounts for water, sewer, garbage collection, electricity, gas, fuel oil, telephone, television cable and any other utilities or public services will be completed by the parties outside of escrow. Unless otherwise instructed, the closing agent shall have no responsibility to determine, collect, pay, pro-rate or adjust charges for installation or service for any utilities or public services, except to pro-rate existing recurrent assessments for public improvements, if any, which appear on the title report. Fire or Casualty Insurance. If a new policy of fire, hazard or casualty insurance on the property is necessary to close the transaction, the buyer will arrange for the policy to be issued, outside of escrow, and will provide evidence of the required insurance coverage to the closing agent before the closing date. Unless otherwise instructed, the closing agent shall have no responsibility to contract for or obtain any policy of fire, hazard or casualty insurance on the property, or any assignment of such policy. Possession of the Property. The transfer of possession of the property shall be arranged directly between the parties outside of escrow and shall not be the responsibility of the closing agent. Collection Account. If any financing for the transaction will be provided by a private party, the parties are advised to open a collection account at a financial institution to receive and disburse payments to be made under the private promissory note or contract. The collection account shall be established by the parties outside of escrow and shall not be the responsibility of the closing agent. Payment of Omitted Taxes. If any additional real property taxes are assessed for recent improvements made to the property and not added to the tax rolls before the closing date, the parties shall pay their respective shares of such omitted taxes, pro-rated as of the closing date, within 30 days after_ receipt of notification that such taxes have been assessed. The closing agent shall not be responsible or liable for any assessment, collection or payment of omitted taxes. Individual Taxes. The parties are advised to consult with their attorneys to determine whether they must report income, deduct expenses or losses, or withhold or pay any income or business taxes as result of the transaction. The closing agent shall have no responsibility for the parties' individual tax consequences arising from the transaction. Foreign Investment in Real Property Tax Act. If any seller is, or may be, a non-resident alien or a foreign corporation, partnership, trust or estate for the purposes of United States income taxation, the parties are advised to consult with their attorneys before the closing date to determine their responsibilities and liabilities, if any, under the Foreign Investment in Real Property Tax Act (Section 1445 et seq. of the Internal Revenue Code) . The closing agent is not required to verify the nationality or foreign status of any of the sellers, or to withhold, report or pay any amounts due under Page 3 such act. are advised to consult with their attorneys o Approvals and Permits. The parties determine whether any building, zoning, subdivision, septic system, or other construction or land use permits or approvals will be required, either before or after the closing date. The closing agent shall have no responsibility with respect to any such permit or approval, and shall have no liability arising from the failure of any party to obtain, or from the refusal of any governmental authority to grant, any such permit or approval. Compliance With Certain Laws. The parties are advised to consult with their attorneys to determine their responsibilities, if any, under the Consumer Protection Act, Truth-in-Lending Act, Interstate Land Sales Act or other similar laws. The closing agent shall have no responsibility for the parties' compliance, nor any liability arising from the failure of any party to comply, with any such law. Additional Agreements, Instructions and Disclosures: NOTICE TO PARTIES The services of the closing agent under these instructions will be performed by a person certified as a Limited Practice Officer under the Admission to Practice Rule 12, adopted by the Washington State Supreme Court. Under that rule, Limited Practice Officers may only select, prepare and complete certain documents on forms which have been approved for their use. You are further advised that: THE LIMITED PRACTICE OFFICER IS NOT ACTING AS THE ADVOCATE OR REPRESENTATIVE OF EITHER (OR ANY) OF THE PARTIES. THE DOCUMENTS PREPARED BY THE LIMITED PRACTICE OFFICER WILL AFFECT THE LEGAL RIGHTS OF THE PARTIES. THE PARTIES' INTERESTS IN THE DOCUMENTS MAY DIFFER. THE PARTIES HAVE A RIGHT TO BE REPRESENTED BY LAWYERS OF THEIR OWN SELECTION. THE LIMITED PRACTICE OFFICER CANNOT GIVE LEGAL ADVICE AS TO THE MANNER IN WHICH THE DOCUMENTS AFFECT THE PARTIES. BY SIGNING THESE INSTRUCTIONS, EACH PARTY ACKNOWLEDGES: I have been specifically informed that the closing agent is forbidden by law from offering any advice concerning the merits of the transaction or the documents that will be used to close the transaction. The closing agent has not offered any legal advice or referred me to any named attorney, but has clearly requested that I seek legal counsel if I have any doubt concerning the transaction or these instructions. I have had adequate time and opportunity to read and understand these instructions and all other existing documents referred to in these instructions. The Purchaser(s) hereby WAIVES their right to delivery of the completed HUD-1. In such case, the completed HUD-1 shall be mailed or delivered _ to the purchaser, seller and lender (if applicable) as soon as practicable-after settleme CITY OF KENT JACK B KECK BARBARA J KECK Buyer's Mailing Address: Seller's Mailing Address: SCj 855 EAST SMITH ST. 3Z- KENT, WA 98031 J Phone: Home_ Work Phone: Home Seller' s Forwarding Address: Buyer's Forwar ing Addr ss: Accepted: ACCOUNTABLE ESCROW, INC. BY: Sherian Grimes Escrow Officer, LPO, V.P. ESCROW INSTRUCTIONS LPO/Escrow Form 1E (10/89) @1989 F.B. Phillips Page 4 ACCOUNTABLE ESCROW, INC. 1048 W. James, Suite 102 Rent, WA 98032 Escrow File No. 96218 File Name: CITY OF RENT / KECK Supplement To CLOSING AGREEMENT AND ESCROW INSTRUCTIONS For Purchase and Sale Transaction Including Instructions to Record Documents and Disburse Funds This is a part of the Closing Agreement and Escrow Instructions signed by the parties under the Closing Agent's escrow file number set forth above. Except as expressly modified, changed or amended by this supplement, all terms and conditions of the Closing Agreement and Escrow Instructions, and any previous supplements, additions or amendments thereto, shall remain in effect. THE SELLER HAS APPROVED, SIGNED AND DEPOSITED THE FOLLOWING DOCUMENTS WITH THE CLOSING AGENT UNDER THESE INSTRUCTIONS: Statutory Warranty Deed Real Estate Excise Tax Return BY SIGNING THIS DOCUMENT, EACH PARTY ACKNOWLEDGES: Conditions of Parties' Agreement Satisfied. All terms and conditions of the parties' agreement have been met to my satisfaction, or will be met, satisfied or complied with outside of escrow. Title Report Approved. The Preliminary Commitment for Title Insurance, including the legal description of the property and all attachments, supplements and endorsements to that report, issued by WASHINGTON TITLE COMPANY under order number R102303-4, are approved by me and made a part of these instructions by this reference. Settlement Statement Approved. The settlement statement prepared by the closing agent is approved by me, made a part of these instructions by this reference, and I agree to pay my costs, expenses and other obligations itemized on that statement. I understand that any estimated amounts will be adjusted to reflect the exact amounts required when the funds are disbursed, that the settlement statement continues to be subject to audit at any time, and if any monetary error is found, that amount will be paid by the party liable for such payment to the party entitled to receive it. BY SIGNING THIS DOCUMENT, THE BUYER FURTHER ACKNOWLEDGES: Property Approved. I have had adequate opportunity to inspect the property and to determine the exact location of its boundaries. The location and physical condition of the property and any buildings, improvements, plumbing, heating, cooling, electrical or septic systems on the property are approved. I understand that all inspections and approvals of the location any physical condition of the property are my sole responsibility, and are not part of the closing agent's duties and responsibilities. I hereby release and agree to hold the closing agent harmless from any and all claims of liability for loss or damage arising or resulting from any physical condition or defect on the property, or from the location of its boundaries. THE CLOSING AGENT IS INSTRUCTED TO PROCEED AS FOLLOWS: Instruction to Close. The closing agent is instructed to perform its customary closing duties under these instructions, to deliver and record documents according to these instructions, and to disburse the funds according to the settlement statement, adjusting estimated amounts, when the closing agent has the documents required to close the transaction in its possession and has, or will obtain when the documents have been delivered and recorded: Sale proceeds for the seller's account in the sum of $ 234,950.00, to be disbursed according to the settlement statement. A policy of title insurance issued pursuant to the Preliminary Commitment for Title Insurance referred to above, insuring the buyer with [ x] owner's or [ ] purchaser's [ x] standard or [ ] extended coverage with liability of $ 234,950.00, having the usual clauses, provisions and stipulations customarily contained in the printed provisions and schedules of such policy forms, insuring the buyer's title to the property against all defects or encumbrances except those set forth in the printed exceptions and exclusions customarily contained in the printed provisions and schedules of such policy forms, matters attaching by, through or under the buyer, taxes not yet due, and the matters set forth in the following numbered paragraphs of Schedule B of the Preliminary Commitment for Title Insurance: 1, 2, & 3, and also per the purchase and sale agreement page 2(4) (d)encroachment Completion or Correction of Documents. The closing agent is instructed to correct any errors found in any document deposited under these instructions, and to insert as necessary the closing date, the date on which interest begins to accrue, and the dates on which payments must be made, if such items are incomplete. Adjustments and Pro-rations. The closing agent is instructed to adjust and pro-rate as of CLOSE OF ESCROW, recurrent assessments if any. FIRST HALF 1996 REAL ESTATE PROPERTY TAXES HAVE BEEN PAID BY SELLER TO 7/l/96 and THE REFUND OF OVERPAYMENT OF SEMI-ANNUAL PROPERTY TAXES DUE SELLER FROM DATE OF CLOSING TO 7/l/96 WILL BE PAID DIRECTLY TO SELLER Page 1 FROM KING COUNTY ASSESSOR, ABSTRACT DEPARTMENT AFTER RECORDING OF THE STATUTORY WARRANTY DEED. Proceeds Check: Seller will pick up proceeds check. Additional Instructions: Sellers payoff is an estimate and shall be updated prior to sending sellers payoff to sellers lender, U.S. Bancorp Mortgage. Buyers advise escrow that buyers will obtain and pay for hazard insurance premium outside of closing with an agent of buyers choice. BY SIGNING THIS DOCUMENT, EACH PARTY ACKNOWLEDGES: The closing agent has not offered any legal advice or referred me to any named attorney, but has clearly requested that I seek independent legal counsel if I have any doubt concerning the transaction or these instructions. I have had adequate time and opportunity to read and understand these instructions and all other documents referred to in these instructions. CITY OF KENT Jack B Keck by Barbara J Keck DATE.. DATE: SUPPLEMENT TO ESCROW INSTRUCTIONS LPO/Escrow Form 2E (10/89) @1989 F.B. Phillips Page 2 1048 West James Sweet accountable/escrow/inc. Suite 102 P.O. Box 1245 KC➢t.WA 98035-1245 206-854-7767 206-854-6183 Fax June 3, 1996 CITY OF KENT 220 4th Ave. S. Kent, WA 98032 RE: Escrow No. 96218 Keck / City of Kent Property Address: 855 East Smith St. Kent, WA 98031 Dear Helen: In connection with the above referenced property, enclosed please find the following: Final Settlement Statement The original recorded Statutory Warranty Deed and Owner's Policy of Title Insurance will be mailed directly to you. Thank you for the opportunity to serve you in this transaction. If you have any questions, please do not hesitate to contact our office. Sincerely, Sherian Grimes Escrow Officer, LPO, V.P. Escrow No. 96218 Closing Date: June 3, 1996 Reference: 855 East Smith St. Page 1 Kent, WA 98031 Buyer CLOSING STATEMENT BUYER: CITY OF KENT 220 4th Ave. S. Kent, WA 98032 DEBITS - - - - CREDITS - - CONSIDERATION: Total Consideration 234,950.00 DEPOSITS: Deposit By: CITY OF KENT 5,000.00 Deposit By: CITY OF KENT 230,282.05 TITLE CHARGES: Record Statutory Warranty Deed 8.45 ESCROW FEES: Escrow Fees 475.00 Sales Tax 24.60 Escrow Discount 176.00 Totals $ 235,458.05 $ 235,458.05 SAVE FOR INCOME TAX PURPOSES I HEREBY CERTIFY HIS TO BE A TRUE AND ACCURATE ACCQONT OF THE RECEIPT Aor, DI E3U SEMFNT OF FUNDS i