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PK1995-0182 - Original - Leo C. and Norma J. Brutsche - Purchase of 212 Railroad Avenue North - 07/14/1995
EXHIBIT A �1 PYREAL ESTATE PURCHASE AND SALE AGREEMENT C(D LEO C. BRUTSCHE and NORMA J. BRUTSCHE, husband and wife, whose address is 223 West Smith Street Kent WA 98032 (hereinafter "Seller") do hereby agree to sell, and the CITY OF KENT, a municipal corporation, whose address is 220 Fourth Ave. S . , Kent, WA 98032 (hereinafter "Purchaser") does hereby agree to purchase the property described hereafter on the following terms and conditions : TERMS OF SALE 1. PARCEL TO BE SOLD. Seller agrees to sell the following real estate located at 212 Railroad Ave. , North in the City of Kent, County of King, State of Washington, legally described as : Lots 7 to 12 together with the North 15 feet of Lot 6 of Block 16 of Washington Central Improvement Co's First Add. The parties to this agreement do hereby agree that the above legal description may, at any time up to closing, be amended so that the above legal description is changed to agree with the legal description included in the title insurance commitment or any supplementals thereto. The parcel described above is hereinafter at times referred to as "the Property" or "Property" . The property, including all structures and appurtenances situated thereon, is sold "as is" by Seller and without warranty except as otherwise provided herein. 2 . PURCHASE PRICE. The purchaser shall pay the sum of THREE HUNDRED FIFTY- FIVE THOUSAND EIGHT HUNDRED AND NO HUNDRED DOLLARS ($355, 800 .00) as follows : All cash at closing. Additionally, Purchaser shall execute a donee 's consent form relating to charitable contributions pursuant to Paragraph 22 . 3 . TITLE INSURANCE. Purchaser shall immediately obtain a preliminary commitment from Chicago Title Insurance Company. In the event of disapproval by Purchaser of any Exception(s) as may be disclosed by the search, Seller shall have until the date of closing within which to attempt to eliminate any disapproved Exception (s) that appear in the report and, if not eliminated, the escrow shall be canceled unless Purchaser then elects to waive its prior disapproval. Provided that after issuance of supplemental up-dated reports, if any, by the title company, notice of disapproval by Purchaser must be delivered to Seller within 15 days of Sellers ' request. Failure of Purchaser to disapprove any exceptions within the aforementioned time limit shall be deemed an approval of the up-dated supplemental commitment. (NOTE: Special exceptions 3 $ 5 of Chicago Title Report Order No. 433350 must be removed by Seller prior to closing. ) 4 . CONVEYANCE BY SELLER. Title shall be conveyed by Statutory Warranty Deed free of encumbrances or defects except those acceptable to Purchaser. 5 . PRORATION. As applicable, taxes for the current year shall be prorated as of date of closing. 1 6. HAZARDOUS WASTE. Seller states that he has no knowledge or information that the property has ever 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 in excess of levels permitted under applicable federal, state and local laws; and to the best of his knowledge, Seller states that no underground storage tanks are located upon or within the property. 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. 8 . CLOSING - TERMINATION. The parties shall deposit this Agreement and such other documents and monies, as are required hereby, into an escrow established at Craig Thielbar Escrow, 1316 S. Central Avenue, 4220, Kent, Washington 98032, telephone: 854-8116 . Assuming all conditions of Paragraphs 3, 15 and 20 are satisfied, Purchaser shall have until 5 :00 p.m. , July 20, 1995, to obtain City Council approval of this Agreement and to close the transaction, and if Purchaser fails to do so, this Agreement shall terminate. 9. "CLOSING" DEFINED. "Closing" shall be defined as the date upon which all appropriate documents are in escrow and proceeds of this sale are available for disbursement to the Seller which shall occur no later than 5 : 00 p.m. , July 20, 1995 . 10 . ADDENDUM. Any addendum hereafter attached hereto and signed by the parties shall be deemed a part hereof. 11. ATTORNEYS FEES. The prevailing party in any suit arising out of this agreement shall be awarded, in addition to all other relief granted, its reasonable attorneys fees incurred to include such fees and costs incurred in preparing and presenting the case in trial court or any appellate court. 12 . TIME OF PERFORMANCE. Time is of the essence of this agreement. 13 . COMMISSION. There is no commission arising out of this sale. 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. This Agreement is conditioned upon City Council approval . 15 . FEASIBILITY CONDITION. Purchaser reserves a feasibility determination period running from the date the parties both sign this agreement until July 5, 1995 . During the feasibility period, Purchaser or its agents are hereby granted the right to enter upon the Property for the purpose of conducting studies, at Purchaser' s expense, to determine the feasibility of the Property for the Purchaser' s intended use. Such studies will include, without limitation, Purchaser's review and determination with respect to the following: any and all development costs, zoning, comprehensive planning, soils, topography, drainage, access, availability of utilities, and studies relating to the presence of hazardous or toxic materials . Seller shall provide Purchaser with any and all studies it has in its , possession within three (3) business days after full execution of this agreement. Purchaser shall have the right, at any time after the date of this Agreement to make other tests which Purchaser may desire so long as such tests do not materially damage or expose the Property or Seller to any 2 lien or liability. Purchaser shall restore Property to its original condition after concluding each test. If the Purchaser, based upon the studies specified above or any other studies, in good faith concludes during the feasibility period that the proposed development of the Property is not feasible, then the Purchaser shall be entitled to terminate this Agreement immediately upon written notice to the Seller. In addition Kent Downtown Partners, the intended Lessee of the property from the Purchaser, must review and accept the condition of the property and improvements within this feasibility study period. 16 . ACCESS TO PROPERTY. 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 Purchaser entering upon property and performing such tests and studies . Purchaser agrees to restore the property upon completion of the studies . 17. FOREIGN PERSON REGULATIONS . The parties agree to comply in all respects with Internal Revenue Code Section 1445 and the regulations issued thereunder, hereinafter referred to as the "Regulations. " If Seller is not a "foreign person" (as defined in the Regulations) , Seller shall deliver to the Purchaser through escrow a non-foreign certificate, properly executed and in form and content as prepared by the Escrow Closer. 18 . 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 . 19. 1031 EXCHANGE. Purchaser understands that Seller may choose to carry out a 1031 exchange and may elect to close this transaction without a simultaneous closing with the trading party. Purchaser has no objection to the Seller seeking such a trade but in no event can the closing be delayed by the Purchaser to convenience such a trade and in no event shall any simultaneous closing result in additional expense to Purchaser. 20 . SELLERS RIGHT TO POSSESSION AFTER CLOSING. Seller shall have until August 21, 1995 to remove all of Sellers personal property from the property. Purchaser agrees to pay to Seller the sum of $10, 000 . 00, separate from the sale price, toward Sellers moving expenses . This sum shall be deposited into the escrow of the closing agent pending release to the Seller. It shall be due to Seller on August 22, 1995 on the condition. that Seller totally vacates the property by no later than 5 :00 p.m. , August 21, 1995, leaving no litter or personal property of any kind, whether considered of value or not, on the property. In the event Seller does not vacate the property on August 21 per the terms of this Paragraph then Seller shall be deemed to have waived any claim to ownership or other rights in the personal property remaining on the property, and Purchaser shall have the right to remove and dispose of all the remaining personal property. Purchaser shall have the right tc deduct its actual costs for the 3 removal and disposal of the property from the $10, 000 . 00 moving expense allowance provided for in this paragraph. The escrow agent shall pay the Purchasers costs to the Purchaser forthwith upon Purchasers presentation of its costs invoice. All sums remaining, if any, shall be paid to the Seller. Provided that in the event that the moving allowance is insufficient to indemnify Purchaser all of its costs, Purchaser may pursue full recovery of all costs flowing from Sellers failure to comply with his commitment to vacate fully by August 21, 1995 . 21. EXPIRATION OF PURCHASE OFFER. Purchaser' s offer to Purchase per the terms of this agreement shall expire at 5 :00 p.m. , on May 31, 1995 . 22 . CHARITABLE CONTRIBUTION. As part of this agreement, Seller wishes to gift to Purchaser and Purchaser agrees to accept as a charitable contribution the difference between the fair market value of the Property and the aforementioned purchase price. The fair market value of the Property shall be determined by an appraiser hired by Seller. As part of escrow, Purchaser shall give to Seller a fully executed donee' s consent pursuant to I .R.S . form 8283 for the difference between the fair market value and the purchase price. By executing this consent form or this agreement, it is understood that Purchaser is not responsible for the tax consequences to Seller that may arise out of the charitable contribution nor does Purchaser make any representation as to such. PURCHASER: CITY OF KENT, A WASHINGTON SELLER: LEO C. BRUTSCHE and MUNICIPAL CORPORATION NORMA J. BRUTSCHE, husband and wife By: i By: ��(Q v im__�. ITS f2:ri��•� y �� �'o r Dated: DATED: BV: Dated: realesc\cpc\kdp-kenc.ps 4 Assignment Agreement C(DFY_;; This Assignment Agreement is made and effective as of the 14th day of July, 1995, by and between Leo C. Brutsche and Norma J. Brutsche, husband and wife ("Exchangor"), Exchange Facilitator Corporation, a Washington corporation ("Intermediary"), and the City of Kent, a municipal corporation ("Buyer"), and is executed as an addendum to the Real Estate Purchase and Sale Agreement dated May 25, 1995, between Exchangor and Buyer. Reci als Exchangor and Buyer entered into the above-referenced Real Estate Purchase and Sale Agreement, a true and correct copy of which is attached hereto as Exhibit "A" ("Agreement") in which Exchangor agreed to transfer the real property described in said Agreement ("Property") to Buyer. Exchangor desires to structure the disposition of the Property to qualify as a tax-deferred exchange pursuant to Section 1031 of the Internal Revenue Code of 1986, as amended. Contemporaneously with the execution of this Agreement, Exchangor and Intermediary are entering into an Exchange Agreement in which Exchangor will transfer the Property to Intermediary in exchange for other real property to be acquired by intermediary and transferred to Exchangor within the deadlines of Section 1031 . Exchangor and Intermediary desire that Exchangor assign to Intermediary all right, title and interest of Exchangor under the Agreement in order to facilitate the tax-deferred exchange of Exchangor. Intermediary is willing to accept such assignment. Buyer is agreeable to such assignment. Now, therefore, for good and valuable consideration, the parties hereto agree as follows: 1. Assignment. Exchangor hereby assigns and transfers to Intermediary all of their right, title and interest as seller in and under the Agreement, including the right to receive the purchase price. Intermediary hereby accepts an assignment of all of Exchangor's right, title and interest as seller in and under the Agreement. 2. Consent to Assignment. Buyer hereby consents to this assignment. 3. Direct Deed. In order to avoid duplicative recording, escrow and title fees, and other like charges, Intermediary hereby instructs Exchangor, and Exchangor hereby agrees, to execute a deed to the Property in favor of Buyer. In addition, Intermediary hereby instructs Exchangor to execute all other conveyance documents in favor of Buyer such as Assignments of Leases. Assignment Agreement Page 1 4. Continuing obligation. Notwithstanding this Assignment Agreement, all warranties, representations, duties, and obligations of Exchangor and Buyer under the Agreement which are intended to survive the closing of the Property shall continue in full force and effect, and neither Exchangor or Buyer shall be released from the same. 5. Tax Effect. No party has made or is making any representations to the other concerning any of the tax effects of the transactions provided for in this Assignment Agreement. No party shall be liable for or in any way responsible to the other party because of any tax effect resulting from the transactions provided for in this Assignment Agreement. Each party is relying on its own tax advisors. 6. Arbitration. In the event of any dispute between any of the parties to this Assignment Agreement in interpreting or enforcing this Assignment Agreement, or in seeking damages for any alleged breach hereof, such dispute shall, in the first instance, be negotiated among the disputing parties in good faith. If not so resolved, the dispute shall be submitted to binding arbitration to be conducted as quickly as possible and in conformance with the rules and procedures of the American Arbitration Association, Seattle, Washington Chapter. The prevailing party shall be entitled to all costs incurred in the arbitration, including actual reasonable attorneys fees and experts fees, as well as all other recoverable costs, damages and awards. 7. Counterparts. This Assignment Agreement may be executed in counterparts and shall be binding on all the parties hereto as if one agreement has been signed. Dated as of the date set forth above. Intermediary: Exchangor: Exchange Facilitator Corporation, a Washin ton rporation Kelly ore fes, House Counsel Leo C. Brutsc e and uth r ed Signatory /7 rma J. Br, sche Buyer: City of Kent, a municipal corporation By JUDY WOODS Its Mayor, Pro Tem Assignment Agreement Page 2 ADDENDUM NO . 1 TO REAL E:S'1'A'I'►: p)JIiCHASE AND SALE A(,RF:I:Mh:M'l THE PARTIES to that certain Real Eatate Purchase And Sale Agreement , dated May 25 , 1995 , between Leo C . Brutsche and Norma Brutsche as Seller and City of Kent as Purchaser hereby agree to modify said Agreement as follows : 1 . The feasibility determination period mentioned in paragraph 15 of said jgreement shall be extended from July 5 , 1995 until July 18 , 1995 . 2 . The date by which Brutsche must remove all personal property mentioned in paragraph 20 of the Agreement shalt be extended from. August 21. , 1995 to Septe,uher 21 , 1995 . All dates stated in paragraph 20 are exterded 30 days . It Is further agreed that if Brutsebe rewcves all property prior to the September 21 , 1995 date , the S10 , 00U , 00 ic: escrow shall become due and payable upon said removal . + , All cther terms and conditions of the aforementioned ZEAL FSTATE PUKCHASE AND SALE AGREEMENT shall rentain the same . EHRC,HASER ; Sl LLl;R : CITY OF KENT , A WAS]IIN(,TON LEO C. BRUTSCHF AND MUNI-CIPAL :oSPORATICN NORMA DBUTSCDE B y � B y t " Date 2ZzZ .f' Date J^ OMB No.2502-0265 A. U.S.DEPARTMENT OF HOUSING AND URBAN DEVELOPMENT B. TYPE 0 F LOAN SETTLEMENT STATEMENT 1. 0 FHA 2. ❑FMHA 3. ❑CONV. UNINS. 4. ❑ VA 5. ❑CONV. INS. 6. FILE NUMBER: 7. LOAN NUMBER: 95EO5009 8. MORTGAGE INS. CASE NO.: C.NOTE: This form Is furnished to give you a statement of actual settlement costs.Amounts paid to and by the settlement agent are shown.Items marked "(p,o.c.)"were paid outside the closing;they are shown here for informational purposes and are not included in the totals. D.NAME OF BORROWER: CITY :OF KENT ADDRESS OF BORROWER: 220 - '4th Ave. So. , Kent, WA 98032 E. EXCHANGE FACILITATOR CORPORATION (1,EO C. BRUTSCHE & NORMA J. BRUTSCHE, CER:/ 2624 Eastlake Ave. E. Seattle, WA 98102 Exchangors) F. AODFIE88 OF LENDER G.PROPERTY LOCATION: 212 Railroad Ave. No. , Kent, WA 98032 FI.SETTLEMENT`AGENT: C1:AIG n, THIELMR. ATTORNEY AT LAW PLACE OF SETTLEMENT: 1316 CENTRAL AVE', SO. SUITE 220, KENT, WA 9802 : Copy I. SETTLEMENT DATE: 07 24 95 ESTIMATED J. Summary of Borrower's Transaction K. Summary of Seller's Transaction s ;l r .ou .. ►cf! r �r o.r w..... ot��.+ :::.:..:..:......... .....................................::...:.::.::::..::.:.::. ..:................ .......................................................................1'.:..:::::.::::::::.::.::::::::::::.:..:...: :..:...., :..:. 101. Contract sales price 355,800.00 401:,Contract sales price 355,800.00 102. Personal property 402. Personal property 103, Settlement charges to borrower:.(line 1400)4 662,06 401 104. 404. 105• 405. Adjustments For Items Paid By Seller In Advance: Adjustments For Items Paid By Seller In Advance: 106, Ciry/town saxes. to 406, City/town taxes ; to 107. County taxes to 407. County taxes to 108. Assessments to- 406 Assessments to 109.MOVING ALLOWANCE HOLDBACK 10,000.00 409. 110, 410, 111. 411. 112. 412. 120. Gross Amount Due From Borrower: ► 366,462.06 420. Gross Amount Due To Seller: ► 355,800.00 00.. .mnurlts:: aid 13 ..ter 1n:13ehalf...Ot Bortover, :> :: °:.<::: 50 .; teduottorts>:In�tmdur�t'Dua.7n:Seller. 201. Deposit or earnest money 501. Excess deposit (See instructions) 202. Principal amount of new loan(s) 502. Settlement charges to seller (line 1400) 8,338.09 203. Existing loan(s)taken subject to 503. Existing loan(s)taken subject to 204, 504, Payoff pf'first mortgage loan 205. 505. Payoff of second mortgage loan 206. 506.EXCHANGE Pl20CEED5 34,7,29819 207. 507. 208. 508, 209. 509. Adjustments For Items Unpaid By Seller: Adjustments For Items Unpaid By Seller: 210. City/town taxes to 510. City/town taxes to 211, Countytaxes: 07/01/95 to 07/24/95 163.72511. County takes 07/24/95: 163.72 212. Assessments to 512. Assessments to 213. 513. 214. 514. 215, 515, r> 216. 516. ^t 217. 517. 218. 518. 919, 220.Total Paid By/For poll- 163.72 520.Total Reductions , Borrower: In Am nt Due eeler: 355,800.00 t+sllt rvlrh Td::�a�t;i'6w*h I#Q��.Cas At�f0ttl> itt 301. Gross amount due from borrower(line 120) 366,462.06 601. Gross amount due to seller(line 420) 355, 800.00 302. Less amount paid by/for borrower (line 220) ( 16 3.72) 602. Less reductions In amount due seller(line'520) ( 355,800.00) 303. Cash (®FROM)([]TO) Borrower: , 366 ,298. 34 603. Cash (❑TO)(❑FROM) Seller: , 0.00 Previous Edition Is Obsolete SB-4-3538-000-1 Form No. 1581 HUD-1 (3-86) 3/86 Page 1 of 3 RESPA,HB 4305.2 Escrow No •95E05009 L. SETTLEMENT CHARGES 700. Total Sales/Broker's Commission: Paid From Paid From Based On Price $ @ %= Borrower's Seller's Funds Funds 701, $ to At At 702 $' to Settlement Settlement 703, Commission paid at settlement 704. Fgddiij% 801. Loan Origination tee % 802. Loan Discount % 803. Appraisal Fe e to I! 804. Credit Report to: 80& Lend or.s`Inspection fee 806. Mortgage Insurance application fee to 807. Assumption fee 808. 809. 810. sill ....:::: .::ae:>; 901. interest from to @$ /day 902. Mortgage insurance premium for mo. to 903. Hazard insurance premiurri for yrs. to 904. Flood Insurance Premium for yrs. to 905. tt l,. ti�tf 1001,. Hazard insurance months @$ per month 1002. Mortgage insurance months @$ per month 1003. City property taxes months)@$ per month 1004. County property taxes months @$ per month 1005. 'Annual assessments months;@$ per month 1006. Flood Insurance months @$ per month 1007, months @$ per month 1101 Settlement or closing fee to CRAIG D. THIELBAR, ATTORNEY AT LAW 654.61. 654.61 1102. Escrow fee: $ 1,210,00 Sales tax: ''$ 99,22 1103. Title examination to 1104. Title Insurance binder to 1105. Document preparation to 1106. Notary fees to 1107. Attorney's fees to (includes above items Numbers: ) 1108 'TItIe insurance to Chioago Title Tnsui�ance Company 1,157:a A (includes''above,; tems Numbers: premium' Tax J ) 1109. Lender's coverage $ 1110. Owner's coverage' $ 355,800.00 1,070,00 87.74 1111. 1112. 1113. . 200. arr rritri nt Ree` r n n rart r.Ch r :.» 1201, :Recording fees; Deed$ 7.45 ;Mortgage$ ;Releases$ 7.45 1202. City/county tax/stamps:Deed$ ;Mortgage$ 1203, 'State tax/stamps:; Deed$ ;Mortgage$ 1204. 'i1205. .;excise..tax ' 'S 443,74 130 .`A iti `ti [ '�tt rri' tyt : 1301, I'Survey to 1302. Pest inspection to 1303. Facilitation .Fee + tax to 'e EFC 1,.082.00 - - 1304. 1305, 1306.,. 1307. 1400.Total Settlement Charges (Enter on line 103, Section J-and-line 502, Section K) ► 662 ,06 8,338.09 Form No. 1582 Page 2 of 3 SB-4-3538-000-1 -- F. ' i18 Escrow No. :95E05009 SELLER'S AND/OR BORROWER'S STATEMENT The Seller's and Borrower's signatures hereon acknowledge their approval and signify their understanding that tax and Insurance prorations and reserves are based on figures for the preceding year of supplied by others Of estimated for the current year, and In the event of any change for the current year, all necessary adjustments will be made betwean Borrower and Seller directly.Any deficit in dellnquant taxes or mortgage payoffs will be promptly reimbursed to the Settlement Agent by the Seller. I have carefully reviewed the HUD-1 Settlement Statement and to the best of my knowledge and belief, it Is a frus and accurate statement of all receipts and disbursements made on my account or by me In this transaction,I further cerlity that I have received a copy of the HUD-1 Settlement Statement, 1 hereby authorize the Senlement Agent to make expendliures and dlsbursements as shown above and approve same for payment- Borrowers/Purchasers Sellers CITY OF KENT EXC G MOTOR CORPORATION BY: BY: JUDY WOODS, Mayor, Pro Tem The HUD-1 Settlement Statement which I have prepared Is a true and accurate account of this transaction. I have caused or will cause the funds to be disbursed In accordance with this etaie ent. Settlement Agent Date 7/�1/C(5 Cra g D, ielbar, C IG D. THIELBAR, ATTORNEY AT LAW WARNING: It Is a crime to knowingly make false statements to the United States on this or any other similar form. Penalties upon convlojon can include a line or imprisonment.For details see:Title 10 U.S.Code Section 1001 and Section 1610. Page 3 of 3 CRMG D. THIELBAR ATTORNEY AT LAW C(0 P)f 1316 Central Avenue South, Suite 220, Kent, Washington 98032 - (206) 854-8116 Escrow File No.: 95EO5009 Purchaser(s): CITY OF KENT & 95T05009 Seller(s): LE) C. BRUTSCHE and NORMA J. BRUTSCHE, Exchan ors; and ETOAANGZ—FAC ILIT TOR C0_R_P_0_RA__T_T0N_, Pa-c-1J stator 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 THE LAW OFFICE OF CRAIG D. THIELBAR (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 bythe 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 thetransaction 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 of closing will not generally be the date on which you sign your final closing papers. The date of closing is the date on which the documents are recorded and the sale proceeds are available to the seller. This date may be one or more days after you sign your final closing papers. 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 Disbursement 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. Prorations. 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 prepare 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"). 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 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 anydue-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. Page 1 of 4 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 or lender 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 closing and escrow 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. Title insurance premiums or cancellation fees will be billed separately to the appropriate parties. 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 of 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 paythe closing agent's costs,expenses and reasonable attorney's fees incurred in any lawsuit arising out of or in connection with the transaction orthese 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 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,singularand plural words,and masculine,feminine and neuterwords,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. Page 2 of 4 JUL I.0 "J'-) U9:'_'1 1- Ltt-hS_-F,BLt t P. 10i18 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. 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. 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 bythe 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 determinethe status or condition of the title to, encumbrances upon, ownership, or physical condition of such personal property, rtor to calculate, pro-rate, collect, prepare returns for or pay any personal property tax, sales tax or use tax arising from the transaction. Approvals and Permits. The parties are advised to consult with their attorneys to 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. 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 responsibilkyto 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_ Payoff ofFHA Loans. If you are selling or refinancing your property,and you have an FHA loan on your property which will be paid off at closing,your FHA loan may require that you notify your lender In writing of your Intention to pay off your FHA loan. If so, such notice must be given at least thirty(30)days prior to pay off. This office does not take the responsibility for giving any such notice to your lender. Althoughwe will request payoff figures from your FHA lender, it is your responsibility to give any such notice to your lender. ADDITIONALLY, your FHA lender has the right to collect interest on its loan to the end of the month In which a pay off Is made. For example,if your FHA loan is paid off on the 2nd day of a month,your FHA lender can collect interest on such loan through the end of that month regardless. Funds Due at Closing. In the event that It Is necessary for you to deposit any funds with CRAIG D.THIELBAR at the time of signing your final closing papers,such funds must be in the form of either a CASHIER'S CHECK;CERTIFIED CHECK;MONEY ORDER or CASH, made payable to CRAIG D.THIELBAR,ATTORNEY AT LAW. Regulations prevent us from accepting personal checks(Including checks drawn on money market accounts)at the time of signing,UNLESS your transaction will not be closing for at least ten(t 0)business days afterthe date you deposit your fundswith our office, THIS REQUIREMENT CANNOT BE WAIVED! 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 acting as the agent of the seller, transferor, buyer or transferee (as defined In the Foreign Investment in Aeal Property Tax Act) in this transaction. 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 such act. Legal Representation&Attorney Review. THE LAW OFFICE OF CRAIG D.THIELBAR Is not acting as the advocate or legal representative of either party to this transaction,but Is only acting as the closing agent for the parties. If you should wish to have an attorney or other independent counsel review your final closing papers for you prior to your signing,please let this office know as soon as possible. Also,If you wish to fully review your papers, (or have your attorney do so), prior to closing, please let us know in advance. We will then make arrangements to have your papers prepared a few days ahead of time and will provide you with copies for you to pick up and review. 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: THE PARTIES HEREBY ACKNOWLEDGE AND AGREE THAT THIS TRANSACTION IS THE FIRST PHASE OF AN I.R.C. SECTION 1.031 TAX-DEFERRED EXCHANGE, IT IS AGREED THAT LEO C. BRUTSCHE AND NORMA J. BRUTSCHE ARE THE EXCHANGORS OF THIS TAX-DEFERRED EXCHANGE AND EXCHANGE FACILITATOR CORPORATION IS THE FACILITATOR THEREOF AND THE Nedtfti. SELLER OF THIS REAL PROPERTY. A-r PA THE AGREEMENT CONTAINED IN THE PURCHASE AND SALE AGREEMENT,BETWE Z)6H�ITY QF KENT AND LEO C. & NORMA J. BRUTSCHE REGARDING THE RIGHT OF LEO G. & NORMA J. BRUTSCHE TO HAVE POSSESSION OF THE PROPERTY AFTER CLOSING SHALL SURVIVE THIS CLOSING AND SHALL CONTINUE IN FULL FORCE AND EFFECT. INITIALS: 14� GZ Page 3 of 4 JUL 1F '95 LO 1-`lt6-E;52-6BLtU P. 11,18 NOTICE TO PARTIES The services of the closing agent under these Instructions may 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. Underthat rule, Limited Practice Officers may only select, prepare and complete certain documents on forms which have been approved for their use. The specific documents prepared are; See Attached Exhibit "A". 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. Buyer: 33 xchangor: CITY OF KENT Date Date JUDY WOODS, Mayor, Pro Tem Datc Date Facilitators _ XCfIANGE FA zhITATpR CORPORATION ^Uatc A J� DRIB BY: Date Date Buyer's Telephone Numbers: Seller's Telephone Numbers: Home Work Home (206)_852-7533 Work Home ......... Work Home Work limited P(actice Officer: fipfi Nff4MX**=ID)1* CPK N/A Page 4 of 4 JUL 15 EXHIBIT"A" ESCROW FILE NO.: 95EO5009 95TO5009 PURCHASER(S): CITY OF KENT SELLER(S): LEO C. BKUTSCHE, NOR RA J . BRUTSCHE, Exchangors; and EX01ANCE FACILITATOR CORPORATION, Facilitator LIMITED PRACTICE BOARD FORMS SECTION 1: MOgTGAGE i FNDINQ DOCUMENTS All documents approved and designed for use by the Secondary Mortgage Market,Including Notes, Deeds of Trust, and Riders. The Secondary Mortgage Market is defined as federally- related institutlons such as FNMA, FHLMC and GNMA, except Regulation"Z"_ SECTION 2: ESCROW DOCUMENTATION X LPB No, 10 Statutory Warranty Deed LPB No. 11 Statutory Warranty Deed (Fulfillment of REG) LPB No_ 12 Quitclaim Deed __._.,._... LPB No. 13 Seller's Assignment of Contract and Deed LPB No. 14 Purchaser's Assignment of Contract and Deed LPB No. 20 Deed of Trust(Short Form) LPB No. 21 Assignment of Deed of Trust _ LPB No. 22 Used of Trust (Long Form) LPB No. 23 Request for Full Reconveyance LPB No. 24 Request for Partial Reconveyance LPB No. 25 Promissory Note-Interest Included LPB No. 26 Promissory Note-Interest Included - Due Date LPB No. 27 Promissory Note-Interest Extra LPB No. 28 Promissory Note-Straight LPB No.29 Request for Notice ........ .:..... LPB No. 30 Bill of Sale _ LPB No. 35 Subordination Agreement LPB No. 44 Real Estate Contract (Short Form) LPB No. 45 Real Estate Contract (Long Form) LPB No. 50 Mortgage (Statutory Form) LPB No, 51 Satisfaction of Mortgage LPB No. 52 Partial Release of Mortgage LPB No. 60 Satisfaction of Lien LPB No. 61 Partial Release of Lien LPB No. 62 Satisfaction of Judgment LPB No. 63 Partial Release of Judgment l_P8 No. 64 Waiver of Lien LPB No. 65 Partial Waiver of Lien LPB No. 70 Special Power of Attorney(Sale) LPB No. 71 Special Power of Attorney (Purchase/Encumber) SECTION 3: U.C.C. FORMS All U.C.C. filing forms including Security Agreement Forms with the exception of: WBA UCC 2 UCC 4 UCC 5 SECTION 4: EXCISE TAX AFFIDAVIT FORMS X SECTION 5: FARMERS HOME ADMINISTRATION FORMS All documents approved and designated for use by the United States Department of Agriculture Farmers Home Administration in connection with closing a FmHA on residential property. INITIALS: Purchaser YExC angors/Facilitator CRAIG D. THIELBAR ATTORNEY AT LAW 1316 Central Avenue South, Suite 220, Kent, Washington 98032 - (206) 854-8116 Escrow File No.: 95EO5009 & 95TO5009 Purchaser(s): CITY OF KENT — Seller(s): LEO C. BRUTSCHE and NORMA J . BRUTSCHE, Exchangor; and _ EXCHANGE FACILITATOR CORPORATION, Facilitator 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 bythe parties underthe 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 ❑ Purchaser's Assignment of Contract and Deed ❑ Real Estate Contract ❑ Bill of Sale (for personal property) ® Real Estate Excise Tax Return �] EXCHANGE AGREEMENTS EXCHANGE ASSIGNMENT AGREEMENTS EXCHANGE SETTLEMENT_STATEMENT __________-________ THE BUYER HAS APPROVED, SIGNED AND DEPOSITED THE FOLLOWING DOCUMENTS WITH THE CLOSING AGENT UNDER THESE INSTRUCTIONS: ❑ Promissory Note ❑ Deed of Trust ❑ Mortgage ❑ Real Estate Contract ❑ Security Agreement (for personal property) ❑ Financing Statement (for personal property) q REAL ESTATE EXCISE TAX AFFIDAVIT R-] EXCHANGE ASSIGNMENT AGREEMENTS �] HUD-1 SETTLEMENT STATEMENT AND BALANCE DUE FOR _CLOSING 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 Chicago Title Insurance Cotnpan� under order number 433350 are approved by me and made a part of these instructions by this reference. Settlement Statement Approved. The settlement statement prepared bythe 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 statements continues to be subject to audit at any time,and if any monetary error isfound,the amountwill be paid bythe partyliable forsuch payment tothe party entitled to receive it.It is understood and agreed that portions of fees charged may be retained by 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 and physical condition of the property are my sole responsibility, and are not part of the closing agent's ditties 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. Assumed Encumbrances Approved. I have had adequate opportunity to review the terms of payment,interest rates and conditions of any existing notes, deeds of trust, mortgages, contracts, assessments or other debts or obligations that I will assume and agree to pay in this transaction, and hereby approve the same. Page 1 of 2 q_ !_. +: 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: 1. Sale proceeds for the sellers account, to be disbursed according to the settlement statement,and 2. Loan proceeds for the buyers account,to be disbursed according to the settlement statement,and 3. A policy of title Insurance issued pursuant to the Preliminary Commitment for Title Insurance referred to above, Insuring the buyer whhgj owner's or❑purchasers Mstandard or ❑extended coverage with liability of$ 355 900;00 , having the usual clauses. provisions and stipulations customarily contained in the printed provisions and schedules of such policy forms,insuring the buyers title to the property against all defectsor encumbrances except thoseset 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: 2 & 4 and 4. Such other policies of title Insurance as maybe required by any lenders that are providing financing for the transaction. 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 nhe closing date or❑ �_— _.._.. . real estate taxes for the current year, recurrent assessments N any, and Proceeds Check: 0 Seller will pick up proceeds check. ❑ Mail proceeds check to seller at: X Exchange proceeds to be disbursed pursuant to Escrow Instructions dated July Ig, 1995 from Exchange Facilitator Corporation. Additional instructions, BY SIGNING THIS DOCUMENT, EACH PARTY ACKNOWL90GES: i have been specifically informed that these instructions are for closing purposes only,and shall not in My way be construed as an agreement or commitment by the closing agent to make a loan,advance funds or end credit to any party or to any other person,or to otherwise affect,modify or restrict the rights,duties and obligations of the closing agent or of any party or other person under the terms of any loan or commitment made by the closing agent. I have been specifically informed that any loan documents completed by the closing agent have been prepared forthe closing agent's benefit,according to Its lending policies and requirements,and that I should seek legal counsel If I have any doubt concerning the terms or conditions of any loan made by, or security given to, the closing agent in this transaction. The closing agent has not been offered any legal advice or referred me to any named attorney, but has clearly requested that f seek legal counsel If I have any doubt concerning the transaction or these Instructions. I have had adequate timeand opportunityto read and understand these instructions and all otherexisting documents referred to In these instructions. Buyer: BNKMXExchangor: CITY OF KENT Da U HE Date BY:: 1 JURY WOODS, Mayor, Pro Tem Date NO J, $R SCN - �•Date Facilitaco <Cuts '. EXCHANGE FA IL ATOK CORPORATION Data —_._.-... Data BY, S ��, _ �l 11$��S Dale Date Page 2 of 2 G� This Space Reserved For Recorder's Use: O O C� Filed for Record at Request of CRAIG D. THIELBAR, ATTORNEY AT LAW CITY OF KEPdT AFTER RECORDING MAIL TO: J U L 311995 r Name CITY OF KENT ENGINEERING DEPT. Address 220 4th Ave So u71 City, State,Zip Kent WA 98032 - 01 rI Escrow number: 95EO5009 in Statutory Warranty Deed t`t ' �. THE GRANTOR LEO C. BRUTSCHE and NORMA J. BRUTSCHE, husband and wife iTI f for and inconsideration of I.R.C. SECTION 1031 TAX-DEFERRED EXCHANGE in hand paid,conveys and warrants to CITY OF KENT, a Washington municipal corporation the following described real estate,situated in the County of King ,State of Washington: Lots 6 through 12, inclusive, Block 16, Washington Central Improvement Company's First Addition to Kent, according to the plat thereof, recorded in Volume 3 of Plats, Page 97, in King County, Washington; EXCEPT the Southerly 15 feet of said Lot 6; TOGETHER WITH an easement for ingress and egress over the South 6 feet of Lot 13, Block 16 of said Plat. Y Dated this 18 day of July 1995 .� By . � �.. : .... t ... ................... By ............................................................................................... LEO BR HE NORMA J. BR CHE STATE OF WASHINGTON COUNTY OF KING ss dJ ;- I certify that I know or have satisfactory evidence that LEO C. BRUTSCHE and NORMA J. BRUTSCHE C.Dare the person s who appeared before me,and said person s acknowledged that Y they signed this Instrument and acknowledged it to be the it free and voluntary act for the uses and purposes mentioned in this Instrument. K� Dated: 2 ��..•.. O:�4�t.te •►..r�• WEWDy K.•a Rim At r' �t t♦ Washington Notary Public in a r he Sta a of g y. qr Residing at • w:,* r My appointment ex es: + :t61t LPB-1 PLEASE TYPE OR PRINT REAL ESTATE EXCISE TAX AFFIDAVIT This form is your receipt when stamped by cashier. PLEASE SEE REVERSE Form No. 84 OOOIA CHAPTER 82.45 RCW - CHAPTER 458-61 WAC For Use at County Treasurer's Office (Use Form No. 84-0tbIB for Reporting Transfers of Controlling interest of Entity Ownership to the Department of Revenue) THIS AFFIDAVIT WILL.NOT BE ACCEPTED UNLESS ALL AREAS 1-7 ARE FULLY COMPLKI`ED _ © Name LEO C. BRUl.'SCHE and NORMA J. BRUTSCIIE, ® Name CITY OF KENT, a Washington municipal a husband and wife x corporation Street 223 W. Smith St. street 220 - 4th Ave. So. City Kent state WA zip 98032 City Kent State WA zip 98032 ADDRESS TO SEND ALL PROPERTY TAX RELATED CORRESPONDENCE ALL TAX PARCEL NUMBERS s Eb t1T PL ACE . 5s...5...;:�!...t�FipTnx.)x.e>wt Name CITY OF KENT 917960-1470-02 Street 220 - 4th Ave. So. Kent , WA 98 032 LEVY CODE 1525 City/State ' Zip LEGAL DESCRIPTION OF PROPERTY SITUATED IN CI UNINCORPORNFED COUNTY ® OR IN CITY OFKPnt Street Address (if property is improved): 212 Railroad Ave. No. Lots 6 through 12, inclusive, Block 16, Washington Central Improvement Company's First Addition to Kent, according to the plat thereof, recorded in Volume 3 of Plats, Page 97, in King County, Washington; EXCEPT the Southerly 15 feet of said Lot 6; TOGETHER WITH an easement for ingress and egress over the South 6 feet of Lot- 1-3, Block 16 of said Plat. © Is this property currently: YES NO a Description of tangible personal property if included in sale (furniture, appliances, etc.) Classified or designated as forest land? ❑ Chapter 84.33 RCW Classified as current use land (open space, farm ❑ and agricultural, or timber)? Chapter 84.34 RCW Exempt from property tax as a nonprofit ❑ ® If exemption claimed, list WAC number and explanation. organization? Chapter 84.36 RCW Seller's Exempt Reg. No. __—_———--— WAC No. (Sec/Sub) Receiving special valuation as historic ❑ Explanation property under? Chapter 84.26 RCW PEperty Type: ❑ land only ❑ land with new building IKI land with previously used building ❑ land with mobile home Type of Document Statutory Warranty Deed ❑ timber only ❑ building only Date of Document 07-11:8-;Q5 Principal Use: ❑ Apt. (4 + unit) Ll residential El timber ❑ agricultural XX cornmcrcial/industrial Gross Sale Price $ 35r),80n-nn ❑ other Personal Property (deduct) $ Taxable Sale Price $ 35-r-,8 (1) NOTICE OF CONTINUANCE (RCW 84.33 or RCW 84.34) 1A ' Excise Tax State 0.0128 $ A,5ri4 24 If the new owner(s)of land that is classified or designated as current use Local 0.0025 $ 0on rZ0 or forest land wish to continue the classification or designation of such land,the new owner(s)must sign below. If the new owner(s)do not desire Delinquent Interest: State $ to continue such classification or designation, all compensating or addi- Local $ tional tax calculated pursuant to RCW 84.33.120 and 140 or RCW 84.34.108 Delinquent Penalty: State $ shall be clue and payable by the seller or transferor at the time of sale. 'rhe county assessor must determine if the land transferred qualifies to Total Due $ �4�r7� — continue classification or designation and must so indicate below.Signatures THERE IS A $2.(X) FEE FOR PROCESSING THIS FORM IF NO TAXIS DUE do not necessarily mean the land will remain in classification or designa- tion. If it no longer qualifies, it will be removed and the compensating AFFIDAVIT taxes will be applied. All new owners nutst sign. I certify under penalty of perjury under the laws of the state of This land ❑does ❑does not qualify for continuance. Washington that the foregoing is true and correct. Signature of Date Grantor/Agent DEPUTY ASSESSOR (2) NOTICE OF COMPLIANCE (Chapter 84.26 RCW) Name (print) LE C. BRUTSCHE If the new owner(s)of property with special valuation as historic property Date & Place of Signing 7 l q /95 @ Kent, WA wish to continue this special valuation the new owner(s)must sign below. If the new owner(s)do not desire to continue such special valuation, all Signature of additional tax calculated pursuant to Chapter 84.26 RCW, shall be due Signature enl and payable by the seller or transferor at the time of sale. g (3) OWNER(S) SIGNATURE Name (print) JUDY WOODS, Mayor, Pro Tem Date & Place of Signing 7/ /95 @ Kent, WA PEWURY: Perjury is a class C felony which is punishable by imprisonment in a state correctional institution for a maximum term of not more than five years, or by a fine in an amount fixed by the court of not more than five thousand dollars ($5,000.00), or by both imprisonment and fine (RCW 9A.20.020 (1C)). FOR TREASURER'S USE ONLY COUNTY TRFASURIT FORM REV 84 0001 A(7-6-94)(PD 0I-10-95) FOREIGN INVESTMENT IN REAL PROPERTY TAX ACT ["FIRPTA"] CERTIFICATION Section 1145 of the U.S . Internal Revenue Code provides that a buyer of a U.S. real property must withhold tax if the seller is a foreign person, unless one of the exceptions in the Act applies. The following information is required to determine whether or not withholding will be required. NOTE: The Act applies to foreign individuals and foreign corporations, partnerships, trusts, estates and any other foreign entities. A "real property interest" includes full or part ownership of land and/or improvements thereon; options to acquire any of the foregoing; and an interest in foreign corporations, partnerships, trusts or other entities holding U.S. real property. TRANSFEROR CERTIFICATION. Transferors hereby certify as follows: Property. We are the Transferors of real property at 212 Railroad Ave. No. , Kent, Washington. Citizenship. We are X are not non-resident aliens (or a foreign corporation, foreign partnership, foreign trust or other foreign business entity) under Section 1445 of the U.S . Internal Revenue Code. Taxpayer I.D. Number. Our U.S. taxpayer identification numbers or social security numbers are: AFC - E737 -607 - / 7/C Address. Our home address is: / 3Cc, d, fo -Z.59fh PA, A�f,77Z UNDER PENALTIES OF PERJURY, We declare that we have examined this Certification and to the best of our knowledge and belief it is true, correct and complete. We understand that this Certification may be disclosed to the Internal Revenue Service and that any false statement I have made here could be punishable by fine, imprisonment, or both. (DATE) (DATE) cco-� ***DO NOT SEND TO IRS*** ***BUYER MUST RETAIN FOR SIX YEARS AFTER THE TRANSACTION*** CERTIFICATION OF NON-FOREIGN STATUS BY ENTITY TRANSFEROR 1 . Section 1445 of the Internal Revenue Code provides that a transferee (buyer) of a U.S. real property interest must withhold tax if the transferor (seller) is a foreign person. 2 . In order to inform each transferee that withholding of tax is not required upon the disposition of a U.S. real property interest by EXCHANGE FACILITATOR CORPORATION (hereinafter referred to as "the Transferor"), the undersigned hereby certifies, and declares by means of this certification, the following on behalf of the Transferor: A. The one item marked is true and correct: XXXXXXX (i) The Transferor is not a foreign corporation, foreign partnership, foreign trust or foreign estate (as these terms are defined in the Internal Revenue Code and Income Tax Regulations). (ii) The Transferor is a corporation incorporated under the laws of a foreign jurisdiction but has elected to be treated as a U.S. Corporation under Section 897 (1) of the Internal Revenue Code, AND HAS ATTACHED TO THIS CERTIFICATION A TRUE AND GENUINE COPY OF THE ACKNOWLEDGEMENT OF SUCH ELECTION ISSUED BY THE I.R.S. B. The Transferor's employer identification number is 91-1 41 9549. C. The Transferor's office address is 2624 Eastlake Avenue East, Seattle, Washington 98102. 3 . The Transferor understands that this certificate may be disclosed to the Internal Revenue Service by the transferee and that any false statement contained in this certification may be punished by fine or imprisonment (or both). 4 . The Transferor understands that each transferee is relying on this certificate in determining whether withholding is required and each transferee may face liabilities if any statement in this certificate is false. 5 . The transferor hereby indemnifies each transferee, and agrees to hold each transferee harmless, from any liability or cost which such transferee may incur as a result of: (i) the Transferor's failure to pay any U.S. Federal income tax which the Transferor is required to pay under applicable U.S. law, or (ii) any false or misleading statement contained herein. UNDER PENALTIES OF PERJURY, I DECLARE THAT I HAVE EXAMINED THIS CERTIFICATION AND THAT TO THE BEST OF MY KNOWLEDGE AND BELIEF IT IS TRUE, CORRECT, AND COMPLETE: I FURTHER DECLARE THAT I HAVE AUTHORITY TO SIGN THIS DOCUMENT ON BEHALF OF THE TRANSFEROR. EXECUTED IN KING COUNTY, WASHINGTON ON �t(�`t 1995. TRANSFEROR: EXCHAN E FACILITATOR CORPORATION ck By Kelly . jY es, Authorized Signatory C1,orl _11y� CHICA�-J TITLE INSURANCE COMjL ANY 1800 COLUMBIA CENTER, 701 5TH AVE SEATTLE, WA 98104 Order No.: 433350 Your No.: CITY OF RENT Loan No.: Unit No.: 04 SUPPLEMENTAL COMMITMENT #2 O R D E R R E F E R E N C E I N F O R M A T I O N SUPPLEMENTAL NUMBER 2 SELLER: LEO C. BRUTSCHE PURCHASER/BORROWER: CITY OF KENT LOAN NUMBER: PROPERTY ADDRESS: WASHINGTON Our Title Commitment dated 05/10/95 at 8:00 A.M. is supplemented as follows: PARAGRAPH(S) NUMBER(S) 5 OF OUR COMMITMENT IS (ARE) ELIMINATED. EXCEPT AS TO THE MATTERS SET FORTH HEREINABOVE, THE TITLE TO THE PROPERTY COVERED BY THIS ORDER HAS NOT BEEN REEXAMINED. JUNE 29, 1995 AUTHORIZED BY: DOUG PITTMAN CHICAGO TITLE INSURANCE COMPAiNTY SUPPLCOM/11-2-90/EK CHICA% ,J TITLE INSURANCE COMPANY 1800 COLUMBIA CENTER, 701 5TH AVE SEATTLE, WA 98104 Order No.: 433350 Your No.: CITY OF KENT Loan No.: Unit No.: 04 SUPPLEMENTAL COMMITMENT O R D E R R E F E R E N C E I N F O R M A T I O N SUPPLEMENTAL NUMBER 1 SELLER: LEO C. BRUTSCHE PURCHASER/BORROWER: CITY OF KENT LOAN NUMBER: PROPERTY ADDRESS: WASHINGTON Our Title Commitment dated 05/10/95 at 8:00 A.M. is supplemented as follows: PARAGRAPH(S) NUMBER(S) 3 OF OUR COMMITMENT IS (ARE) ELIMINATED. EXCEPT AS TO THE MATTERS SET FORTH HEREINABOVE, THE TITLE TO THE PROPERTY COVERED BY THIS ORDER HAS NOT BEEN REEXAMINED. MAY 30, 1995 AUTHORIZED BY: DOUG PITTMAN CHIGAGO=E INSURANCE COMPANY SUPPLCOM/11-2-90/EK "IICAGO TITLE INSURANCE COMP? 1800 COLUMIA CENTER, 701 FIF'H AVENUE Title Unit: 04 SEATTLE, WA 98104 Phone: 6 2 8-5 6 0 0 A.L.TA.COMMITMENT Fax: 623-7463 SCHEDULE A OrderNo.: 433350 Officer: DOUG R. PITTMAN YourNo.: CITY OF KENT Commitment Effective Date: MAY 10, 1995 at 8 :0 0 A.M. i. Policy or Policies to be issued: Amount: $355, 800 .00 ALTA Owner's Policy Premium: $1, 0 7 0.0 0 1992 STANDARD Tax: $ 87.74 GENERAL SCHEDULE RATE Proposed Insured: CITY OF KENT Policy or Policies to be issued: Amount: $0 .0 0 ALTA Loan Policy Premium: Tax: Proposed Insured: Policy or Policies to be issued: Amount: $0.0 0 ALTA Loan Policy Premium: Tax: Proposed Insured: 2. The estate or interest in the land which is covered by this Commitment is: FEE SIMPLE 3 . Title to the estate or interest in the land is at the effective date hereof vested in: LEO C. BRUTSCHE, PRESUMPTIVELY SUBJECT TO THE COMMUNITY INTEREST OF NORMA J. BRUTSCHE AND LEO C. BRUTSCHE AND NORMA J. BRUTSCHE, HUSBAND AND WIFE, AS THEIR INTERESTS MAY APPEAR 4 . The land referred to in this Commitment is described as follows: SEE ATTACHED LEGAL DESCRIPTION EXHIBIT CHICAGO TITLE INSURANCE COMPANY WLTACOMA/03-0&91/EK CHICAGO TITLE INSURANCE COMPANY A.L.TA.COMMITMENT SCHEDULE A Order No.: 433350 (Continued) Your No.: CITY OF KENT LEGAL DESCRIPTION EX 1IBIT (Paragraph 4 of Schedule A continuation) LOTS 6 THROUGH 12, INCLUSIVE, BLOCK 16, WASHINGTON'S CENTRAL IMPROVEMENT COMPANY'S FIRST ADDITION TO KENT, ACCORDING TO THE PLAT THEREOF, RECORDED IN VOLUME 3 OF PLATS, PAGE (S) 97, IN KING COUNTY, WASHINGTON; EXCEPT THE SOUTHERLY 15 FEET OF SAID LOT 6; TOGETHER WITH AN EASEMENT FOR INGRESS AND EGRESS OVER THE SOUTH 6 FEET OF LOT 13, BLOCK 16 OF SAID PLAT. CHICAGO TITLE INSURANCE COMPANY WLTACMA6/I 1-15-90/8K CHICAGO TITLE INSURANCE COMPANY A.L.T.A.COMMITMENT SCHEDULE B Order No.: 433350 Your No.: CITY OF KENT 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 of parties in possession not shown by the public records. B. Encroachments, overlaps,boundary line disputes, or other matters which would be disclosed by an accurate survey and inspection of the premises. C. Easements, or claims of easements,not shown 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 shown as existing liens by the public records. F. Any service,installation,connection,maintenance,tap,capacity or construction charges for sewer,water, electricity,other utilities, or garbage collection and disposal. G.Reservations or exceptions in patents or in Acts authorizing the issuance thereof; Indian tribal codes or regulations,Indian treaty or aboriginal rights,including easements or equitable servitudes. H. Water rights, claims, or title to water. I. 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 FOLLOW CHICAGO TITLE INSURANCE COMPANY WLTACOMB CHICAGO TITLE INSURANCE COMPANY A.L.TA.COMMITMENT SCHEDULE B Order No.: 433350 (Continued) Your No.: CITY OF KENT SPECIAL EXCEPTIONS A 1. PAYMENT OF THE 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 IS 1.530. B 2 . GENERAL AND SPECIAL TAXES AND CHARGES, PAYABLE FEBRUARY 15, DELINQUENT IF FIRST HALF UNPAID ON MAY 1, SECOND HALF DELINQUENT IF UNPAID ON NOVEMBER 1 OF THE TAX YEAR (AMOUNTS DO NOT INCLUDE INTEREST AND PENALTIES) : YEAR: 1995 TAX ACCOUNT NUMBER: 917960-1470-02 LEVY CODE: 1525 ASSESSED VALUE—LAND: $ 128, 700.00 ASSESSED VALUE—IMPROVEMENTS : $ 33,600. 00 GENERAL & SPECIAL TAXES : BILLED: $2, 598 .13 PAID: $1,299.07 UNPAID: $1,299.06 J 3 . THE EFFECT, IF ANY, OF UNRECORDED LEASE, INCLUDING THE TERMS AND CONDITIONS THEREOF: LESSOR: KENT HOLDING COMPANY, INC. LESSEE: SPENCER A LAND, D.S.A. DISCOUNT ARCHERY DISCLOSED BY: AFFIDAVIT AND INDEMNITY EXECUTED FEBRUARY 21, 1994 BY LEO C. BRUTSCHE AND NORMA J. BRUTSCHE £ THE LESSOR'S INTEREST IN SAID LEASE IS NOW HELD OF RECORD BY: ASSIGNEE: VESTEES HEREIN RECORDED: FEBRUARY 5, 1990, SEPTEMBER 12, 1991 AND APRIL 5, 1993 RECORDING NUMBER: 9002050697, 9109120264, 9304050299 AND 9403102284 r THIS COMPANY IS INVESTIGATING SAID AFFIDAVIT AND INDEMNITY AS TO ITS EFFECT ON SAID PREMISES. RESULTS WILL FOLLOW BY SUPPLEMENTAL. C 4 . UNRECORDED LEASEHOLDS, IF ANY, RIGHTS OF VENDORS AND HOLDERS OF SECURITY CHICAGO TTTLE INSUR dLNCE COMPANY CI-IICAGO TITLE INSURANCE COMPANY A.L.TA.COMMITMENT SCHEDULE B OrderNo.: 433350 (Continued) Your No.: CITY OF KENT SPECIAL EXCEPTIONS INTERESTS ON PERSONAL PROPERTY INSTALLED UPON SAID PROPERTY AND RIGHTS OF TENANTS TO REMOVE TRADE FIXTURES AT THE EXPIRATION OF THE TERM. G 5. LABOR AND/OR MATERIAL LIEN: CLAIMED BY: HAMMERITE CONSTRUCTION CO. , INC. AGAINST: TOM HALLER AND JANE DOE HALLER, ET UX, DBA AMSTERDAM BAKERY IN THE AMOUNT OF: $ 4, 025.63 PLUS ALL AWARDABLE INTEREST, COSTS, EXPENSES AND ATTORNEY'S FEES WORK COMMENCED OR MATERIAL DELIVERED: AUGUST 10, 1994 RECORDED: NOVEMBER 1, 1994 RECORDING NUMBER: 9411010496 H AFFECTS: INCLUDES OTHER PROPERTY -- END OF SCHEDULE B WLTACMB2/11.2690/EK CHICAGO TITLE INSURANCE COMPANY T.'lis sketch is not base Ipon a- survey of the pre. =y descr-:bed in er-..ho . � of,. Chicago Title Insurance Company, It is :.:rnishe�?- t o::t' charge solely for the purpose of as-sist_ng I:. loc,t :ng tf1E said premises . It-- does not purport to show all roads or easements , Company assumes no liability for inaccuracies therein, L� I �— SAl NTH >�o = o a L6 �o i. j------------- d N iS Z Z.------------- - �� zj / Z zS /o z 7 .9 28 ' 0 T 3a e 3/ S J?L z 3 Z f 3-5 90 . K ST F-7 ALL LOT nl\'rNS:ONS ARE ACCORDING TO PLAT; EXCEPT WHERE OTIIcR%%':SE INDICATED, 1 EXCLUSIONS (Cont'd.) 4. Any claim, which arises out of u— .ransaction vesting in the Insured the estata jr interest insured by this policy, by reason of the operation of federal bankruptcy, state insolvency, or similar creditors' rights laws, that is based on: (i) the transaction creating the estate or interest insured by this policy being deemed a fraudulent conveyance or fraudulent transfer; or (ii) the transaction creating the estate or interest insured by this policy being deemed a preferential transfer except where the preferential transfer results from the failure: (a) to timely record the instrument of transfer; or (b) of such recordaton to impart notice to a purchaser for value or a judgment or lien creditor. ALTA LOAN POLICY FORM (10-17-92) The following matters are expressly excluded from the coverage of this policy and the Company will not pay loss or damage, costs, attorneys' fees or expenses which arise by reason of: 1. (a) Any law, ordinance or governmental regulation(including but not limited to building and zoning laws, ordinances, or regulations) restricting, regulating, prohibiting or relating to (i) the occupancy, use, or enjoyment of the land; (ii) the character, dimensions or location of any improvement now or hereafter erected on the land; (iii) a separa- tion in ownership or a change in the dimensions or area of the land or any parcel of which the land is or was a part; or (iv) environmental protection, or the effect of any violation of these laws, ordinances or governmental regulations, except to the extent that a notice of the enforcement thereof or a notice of a defect, lien or encum- brance resulting from a violation or alleged violation affecting the land has been recorded in the public records at Date of Policy. (b) Any governmental police power not excluded by(a)above, except to the extent that a notice of the exercise thereof or a notice of a defect, lien or encumbrance resulting from a violation or alleged violation affecting the land has been recorded in the public records at Date of Policy. 2. Rights of eminent domain unless notice of the exercise thereof has been recorded in the public records at Date of Policy, but not excluding from coverage any taking which has occurred prior to Date of Policyh which would be binding on the rights of a purchaser for value without knowledge. 3. Defects, liens, encumbrances, adverse claims or other matters: (a) created, suffered, assumed or agreed to by the insured claimant; (b) not known to the Company, not recorded in the public records at Date of Policy, but known to the insured claimant and not disclosed in writing to the Company by the insured claimant prior to the date the insured claimant became an insured under thisj policy; (c) resulting in no loss or damage to the insured claimant; (d) attaching or created subsequent to Date of Policy (except to the extent that this policy insures the priority of the lien of the insured mortgage over any statutory lien for services, labor or material); or (e) resulting in loss or damage which would not have been sustained if the insured claimant had paid value for the insured mortgage. 4. Unenforceability of the lien of the insured mortgage because of the inability or failure of the insured at Date of Policy, or the inability or failure of any subsequent owner of the indebtedness, to comply with applicable doing business laws of the state in which the land is situated. 5. Invalidity or unenforceability of the lien of the insured mortgage, or claim thereof, which arises out of the transaction evidenced by the insured mortgage and is based upon usury or any consumer credit protection or truth in lending law. 6. Any statutory lien for services, labor or materials (or the claim or priority of any statutory lien for services, labor or materials over the lien of the insured mortgage)arising from an improvement or work related to the land which is con- tracted for and commenced subsequent to Date of Policy and is not financed in whole or in part by proceeds of the indebtedness secured by the insured mortgage which at Date of Policy the insured has advanced or is obligated to advance. 7. Any claim, which arises out of the transaction creating the interest of the mortgagee insured by this policy, by reason of the operation of federal bankruptcy, state insolvency, or similar creditors' rights laws, that is based on: (i) the transaction creating the interest of the insured mortgagee being deemed a fraudulent conveyance or fraudulent transfer; or (ii) the subordination of the interest of the insured mortgagee as a result of the application of the doctrine of equitable subordination; or (iii) the transaction creating the interest of the insured mortgagee being deemed a preferential transfer except where the preferential transfer results from the failure: (a) to timely record the instrument of transfer; or (b) of such recordation to impart notice to a purchaser for value or a judgment or lien creditor. - - - -- - - 91 og e. ttt jr rsT I ���r�.•-a,:k�.-�'. �;!�-sY„�t=��i.�r.c�� .� �. '�� lz I Lf�am,:� ���,'✓sa' ✓r� , f'� % / f�G'r • � I_ V e»'c� Sr, ' � C'j!� ��!� ��fi�,*i. ,lGC h./ �.�'�-t'LE /. I I l• . I gp�n 6t '' I ,.� +f,r•c f � J rGGS; `'%.n./.......L.!<� ,��� n _li f (,,. dl✓/'-,e/d {' ..G / t� a a 1.1..1 14" 1. i WARRANTY DEED ,STATUTORY FOR%ll The Crantor_, _ !Cent Holding Inc. residing at 212 N. Railroad Ave. Kent, WA 98032 for and in consideration of the sum of corporate di Solution an runs idprAt inn_ _— Dollars'fS in hand paid. CONVEYi and WARRAN"1'__S_ to I Pn C. Cru,s t Pnh rt Karnev. And. FtLiin Atkprrnn parh an undividpd III rd it tPrPCt the Grantees the following described real estnle: Lots 6 - 17, Block 16, Washington's Central Improvement Company's First Addition to Kent, except the southerly 15 feet of Lot 6, as per plat recorded in Volume 3 of Plats, page 97, records of King County, Washington. (D KING,CG1Nry - p NO EXCISE TAX o FEB 51990 i o E1114635 situated in the County of Kind_ Sate of Washington. o a Dated this -_c _day ofZ„G a e0 C. brutsChe L STATE OF WASHINGTON, to (arson !s. (Individual Acknowlfil"ist) f.nlm•\'of i 1 1, Notary Public in and for the Slatr rf Washing ton._ju do hereby certify that on this day of 19_, personally appeared II i before me to me known to bethe individual—descrihe,l in and whoexrcuted the within instrumrni and acknowledged I 1 i I that signed the tame as_ free and\oluntary act and deed for the uses and purposes herein mentioned. GIVEN UNDER MY HAND AND OFFICIAL SEAL.this day of 19__. NPta-v Public in and for the Stale of %Vashinglon, residing di _ in said County. STATE OF l4'ASHINCTON, ss. (Corporate Acknowlegmeat) County of k'na { I On:his day of . 19_,before mr personaiiy appeared Leo C. Brutsche and Robin L. Atkerson to me known to be the President and Secretary I of the corporation that executed the within and foregoing instrument,and acknowledged said instrument to fi be the free and voluntary act and deed of said corporation,for the uses and purposes therein mentioned,and on oath stated that_—the_y__wera authorized to execute said instrument and that the ser.t affixed is the corporate seal of said corporation. IN WITNESS WHEkEOF I have hereunto set my hand and affixed:11 official soul the da y y day and year(lest i above written. I Notary Public in and for the State of ashingt n, reeding at >1 a _ in said County. Hy Counission expires T`— — fW—ty D..d(sl.l.t-y Feral i W-hi-11-1 Ln.i BLnt Cn.B.Urw..WA Form No.S] Nle i MATERIAL.MAY NOT BE REPRODUCED:N WHOLE OR IN PART IN ANY FORM WI IAT50EA r:R. i j �� HUD iur Hecord at Request of o o ' o i f _t j ) t v Crrlt•Ell-_...__ . Chicago Title THIS SPACE PROVIDED FOR Insurance Company = Q �D : o FILED FOR RECORD AT REQUEST Of 45 33 WHEN RECDRDE-RETURN TO t wa.e Jerald-A. ..Klein 425 Lyon Bldq., 607 Third Ave, "ll J i t7 cay.state,zb Seattle, WA 98104 _. __ ......... Statutory Warranty Deed 0 THR GRANTOR Robert M. and Katrina Karney, husband and wife, and ~ O theoir marital community, rl c for and in con.idrmtion of O G in hand paid,ronveys and warrants to Leo C. and Norma ;, Arutsche, husband and wife, and h - .a their marital community, W the fullowintt dracribrd rest]mtste,situated in the County of K i nO ,fitaseol Wsrhitta<toa: Lots 6-17, Block 16, Y]ASttINCTON S CENTRAL IMPROVEMENT COMPANY'S FIRST ADDITION TO KENT, exc^pt the Southerly 15 feet of Lot 6, as per plat recorded in Volume 3 of Plats, page 97, records of King Count), State of Washington .e:� � �_-r^S>",,ae-.tx+e.•i.'�Y -n:._t-.; r•,-''-� ., - _ ... .- _ .. � - `at�'A( ,+xrer .. , OLr %e1•E6 ac - cK. .y.is .c:�- r 3' C+-7 -Thin deed h Riven In fulfillment of that certain Ind estate contract between the parties hereto,dated '.19 and ndidoned for the romTyants of the above described '• tij +'.'• .::, ... property,and the covenants of wariaaty, - r r hemp contained shall not apply W any title,interest or encumbrance auisitti by through or under the Durchaaer In ttaid contract and r -; +hall not apply-to any taxett owetornts or other c]tat-Ees levied,assessed or becoming due subseclwat to the data of said contract Real F-state Sales Tax was paid on this sale on Ree.No 19 � yYM1 ,> Ar STAIF ttF WAsHC:CTON ) STATE OF WASHINGTON ` (In the+day,p,•n.oath appeared hr(—me Or.this-._.. .-.._.day of._..-_....._- --_.-.... _.. .. .-....19. - before me. the undersign a Notary Public in and for the State of Walh- ington duly eommimioned and sworn.personally• ared - 'b+n,.•kna.rt to ho the indi—inal dexrihed in Ltd �:iv..-�rrrrn3 rhr rithm an.i 6,rrxoinw instrument, and .................. .-......... .._.__._.. .. .. ..... .. ............. _..Secrets 1 i vt nrano ai.d:d that "_Ir• si,ned the sarrte to me no,-n to be the __ ....President and... ry• ,�• free and voluntary act and deed. rrapertrvrly,of __._....-..-......_.._.._...._.__._.._. -- �I.+,the uses ani:purposes therein mentioned_ the rnrxtration that executsd t"_e fortraing instrument• and ackno-ledged the acid in stturry -_to be the free and voluntary act and deed of said torpor. atran.:or the ua.s nd purposes therein mentioned-and on oath stated that t- ... __:_authorized to execute the said instrument aril that the seal (:IVY" undo my hand and official seal this .rTi.e,]is the corporate seal of acid corporstioiL ids. Witnev uY hand and official ua] hereto abxcd the day and )nr Hit r I 77 above written - in a4 for the Stsye of% ah. - - _ Notary Public in and for the State of Washington-, , :n:},.n.MtdfRL nt/'.�.[.0 r4 l:.L`�� - ''� .. reaidlrtL af_ ._.—.:_-.._._�._-._•_-._.-_.___-_.-•_-.. � �`.� �:7 Frz7, �r CITY OF �SV Jim White, Mayor January 5 , 1996 Steve & Christina Restad M. Romano and L. Corwin KENT COLLISION & CAR CARE 203 N. Central Kent , Washington 98032 Re : Licensing Agreement Ladies and Gentlemen: This letter of understanding is between Steve and Christina Restad, M. Romano and L. Corwin dba Kent Collision & Car Care (hereinafter "Kent Collision" ) and the City of Kent (hereinafter "Kent" ) . By this letter of understanding, Kent grants to Kent Collision a revocable license to utilize a portion of the parking lot on property owned by Kent known as the "Saturday Market" property located at 206 Railroad Avenue, Kent, Washington 98032 , for the purpose of parking, on a short-term basis , vehicles used in conjunction with Kent collision' s business on its property located adjacent to the Saturday Market property. This license is granted without any fee or other consideration and is revocable at will without cost or expense to Kent . It is anticipated that Kent collision' s use of this property may be restricted, if not eliminated, when the Saturday Market building facility becomes occupied in late Winter or Spring of 1996 . Revocation will be effective upon written or verbal communication being given to Kent Collision. As a condition to the granting of this license, Kent Collision agrees to indemnify, defend and hold Kent harmless from any and all claims that may arise as a result of Kent collision' s - - - 220 lth AV[ SO 'KFA \VASIIINGION 98032 S89-,/ I AA 11I101F_ FAX 4 559_3,i4 --- STEVE & CHRISTINA RESTAD M. ROMANO & L . CORWIN KENT COLLISION & CAR CARE January 5 , 1996 Page 2 use of the property under the license granted herein. Kent Collision will keep the property free from any contamination caused by any vehicle, equipment or property belonging to or in possession or control of Kent Collision. Additionally, Kent Collision will maintain a Certificate of Insurance naming Kent as an additional insuied In a form SaiLisfactory to Kent . It is further understood that this license does not grant Kent Collision any property rights in the property or any other rights not set forth herein. If you agree with the foregoing, please sign in the space provided below for your signature . Sincerely, lt, +RG A. LUBOVICH _— -- Kent City Attorney RAL:kk CC : Mr. Jim White, Mayor KENT COLLISION & CAR CARE T p Its /4'l ";' a L l p(I-1 �- Dated: COMMERCIAL CERTIFICATE OF INSURANCE Issue Date (MMIDD/YY) AGENCY MYRON R JOHNSON AGENCY 10/27/95 Name 10615 SE 256TH #101 & KENT, WA. 98031 This certificate is issued as a matter of information only and confers no rights Address upon the certificate holder. This certificate does not amend, extend or alter the coverage afforded by the policies shown below. COMPANIES PROVIDING COVERAGE: ST. 79 DIST. 45 AGENT.. 385 _ ANr rlrn A TRUCK INSURANCE EXCHANGE INSURED STEVE & CHRISTINA RESTAD "F;NY Name M ROMANO & L CORWIN g FARMERS INSURANCE EXCHANGE & DBA° KENT COLLISION & CAR CARE JVF RANY C MID-CENTURY INSURANCE COMPANY Address 203 N CENTRAL KENT, WA. 98032 `r"iaN` D COVERAGES THIS IS TO CERTIFY THAT THE POLICIES OF INSURANCE LISTED BELOW HAVE BEEN ISSUED TC THE INSURED NAMED ABOVE FOR THE POLICY PERIOD INDICATED NOTWITHSTANDING ANY REQUIREMENT,TERM OR CONDITION OF ANY CONTRACT OR OTHER DOCUMENT WITH RESPECT TO WHICH THIS CERTIFICATE MAY BE ISSUED OR MAY PERTAIN,THE INSURANCE AFFORDED BY THE POLICIES DESCRIBED HEREIN IS SUBJECT TO ALL THE TERMS, EXCLUSIONS AND CONDITIONS OF SUCH POLICIES. LIMITS SHOWN MAY HAVE BEEN REDUCED BY PAID CLAIMS. CO. TYPE OF INSURANCE POLICY NUMBER POLICY EFFECTIVE POLICY EXPIRATION POLICY LIMITS LTR. DATE (MM/DDIYY) DATE (MM/DD/YY) B GENERAL LIABILITY 60045-56-90 09/09/95 09/09/96 GENERATE $ 500 , 000 X COMMERCIAL GENERAL LIABILITY PRODUCTS COMPiOPS —OCCURRENCE VERSION AGGREGATE $ 500 , 000 X CONTRAC'UAL INCIDENTAL ONLY PERSONAL& X OWNERS&COWRACTORS PROT ADVERTISING INJURY $ 5 0 0 , 000 EACH OCCURRENCE $ 5 0 0 , 000 FIRE DAMAGE(Any one Fire) $ 50 , 000 MEDICAL EXPENSE (.Any one person) $ 5 , 000 ED B AUTOMOBILE LIABILITY SINGLEJLIMIT $ 5 0 0 , 000 X ALL OWNED COMMERCIA'AUTOS BODILY INJURY SCHEDULED AUTOS hER PERSONI $ X HIRED AUTOS BODILY INJURY X NON OWNED AUTOS (PER ACCIDENT) $ X GARAGE LIABILITY PROPERTY DAMAGE $ GARAGE AGGREGATE $ 500 , 000 UMBRELLA LIABILITY LIMIT $ WORMERS'COMPENSATION STATUTORY AND EACH ACCIDENT $ DISEASE EACH EMPLOYEE $ EMPLOYERS'LIABILITY DISEASE POLICY LIMIT $ DESCRIPTION OF OPERATIONSIVEHICLESIRESTRICTIONS!SPECIAL ITEMS: EXTEND LIABILITY TO , 206 RAILROAD AVE; KENT, WA. 98032 CERTIFICATE HOLDER CANCELLATION Name CITY OF KENT SHOULD ANY OF THE ABOVE DESCRIBED POLICIES BE CANCELLED BEFORE THE EXPIRATION DATE THEREOF, LEGAL DEPARTMENT THE ISSUING COMPANY WILL ENDEAVOR TO MAIL 30 DAYS WRITTEN NOT TO THE CERTIFICATE HOLDER 2 NAMED 10 THE LEFT,BUT FAILURE TO MAIL SUCH NOTICE SHALL IMPOSE N OBLIGATION OR LIABILITY OF Address 220 4 TH AVE S. ANY KIND UPON THE COMPANY ITS AGENTS OR REP�ESENTkjIVES. KENT, WA. 98032 AUIHOH11F HEPlvssrN1A1IVE 56-2492 4-94 1251 F-94 1301