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HomeMy WebLinkAboutAD1995-0183 - Original - Leslie A. Dow - Purchase of 26521 132nd Avenue SE - 12/01/1995 REAL ESTATE PURCHASE AND SALE AGREEMENT with EARNEST MONEY PROVISION LESLIE A. DOW PROPERTY This contract controls the terms of the sale of real property. (Please read carefully before signing. ) Agreement between the City of Kent , a Washington municipal corporation, whose mailing address is 220 4th Ave . S, Kent , Washington 98032 , ( "Buyer" ) , and Leslie A. Dow, whose mailing address is 26521 132nd Avenue SE Kent Washington 98042 , ( "Seller" ) , entered into in Kent, Washington, this day of 1995 . Received from Buyer, One Thousand and. no/100 dollars ($1 000 . 00) in the form of a City of Kent purchase order, as earnest money and part payment on the purchase price of the following described real estate, commonly known to be located at 26521 132nd Avenue SE Kent Washington 98042 (the "Property" ) , which Buyer agrees to buy and Seller agrees to sell, and which Property is legally described in Exhibit A, attached hereto and incorporated herein by this reference . A map indicating the location of the Property is also attached as Exhibit B, incorporated herein by this reference . Said purchase order will be converted to check upon final acceptance of this agreement by Seller. PURCHASE PRICE The total purchase price for the Property is Five Hundred Seventy Five Thousand and no/100 dollars ($575 . 000 . 00) payable by City check on closing. Page 1 [XI CONTINGENCIES : This agreement is contingent upon acceptance of its terms by the Kent City Council; upon an appraisal which meets or exceeds the $575 , 000 purchase price (at buyer ' s expense) ; and upon Seller ' s performance of all inspection requirements listed under Item 9-J. 1 . SELLER' S REPRESENTATIONS: Seller represents : (1) [ ] that the property is connected to a : [X] public/community water main [X] well [ ] public sewer [X] septic tank [ ] cesspool [X] gas main [X] electrical power [X] telephone [X] cable t .v. [ ] none of the foregoing . (IF WELL OR SEPTIC TANK IS CHECKED, THE WELL OR SEPTIC TANK PROVISIONS , ITEMS 8 (G) and 8 (H) BELOW, ARE PART OF THIS AGREEMENT) , (2) [ ] that there is a condominium or Home Owner ' s fee, (3) [ ] that the property contains lease or encumbered items identified as [ ] hot water tank (s) [ ] heating system [ ] other (4) [X] that all electrical wiring, heating, cooling, and plumbing systems will be in normal working order at the time Buyer is entitled to possession, (5) [ ] that he/she knows of no material structural defects, (6) [X] that he/she will maintain the property and yard in present or better condition until time of agreed possession, (7) [ ] that shares in light and/or water companies and associations , if any, shall be included in the sale, unless noted, (8) [X] that he/she has no knowledge or notice from any governmental agency of any violation of laws relating to Page 2 the subject property except : 2 . TITLE: Seller to provide title insurance at closing, to be issued by Stewart Title Company, 1201 Third Avenue , Suite 3800 Seattle , WA 98101 Title to the property is to be free from all encumbrances or defects except Number 1 and 2 of Schedule B of Stewart Title Company' s Preliminary Title Commitment for Title Insurance dated October 30 1995 at 8 : 00 a.m. (Order No 278897) Exhibit C . Encumbrances to be discharged by Seller shall be paid from Seller' s funds at the date of closing. The following shall not be deemed encumbrances or defects : Rights reserved in federal patents or state deeds; building or use restrictions consistent with current zoning, other than government platting and subdivision requirements ; utility easements; other easements not inconsistent with Buyer' s intended use ; and, reserved oil and/or mineral rights . 3 . CLOSING COSTS AND PRO-RATIONS : The cost of escrow shall be shared equally between Buyer and Seller, except those fees which are expressly limited by Federal Regulation. Seller shall pay for excise tax and revenue stamps . Taxes for the current year, rents, interest, Association, Condominium and/or Homeowner' s fees, water and other utility charges, if any, shall be pro-rated as of date of closing unless otherwise agreed. Page 3 4 . CLOSING OF THE SALE: WITH THE UNDERSTANDING THAT TIME IS OF THE ESSENCE FOR THIS AGREEMENT, this sale shall be closed on or before January 5 , 1996, which shall also be the termination date of this agreement . When notified, the Buyer and Seller will deposit, without delay, in escrow with Accountable Escrow, 1048 West James Street Suite 102 , Kent , WA 98032 , all instruments and monies required to complete the transaction in accordance with this agreement . Closing, for the purpose of this agreement, is defined as the date that all documents are executed and the sale proceeds are available for disbursement to the Seller. 5 . POSSESSION: The parties will agree at a later time on the exact date the buyer is to take possession (hereinafter "The date of agreed possession" ) , which shall in no event be more than six (6) months after the date of closing. The seller agrees to pay the buyer the sum of $20 . 00 for each day seller remains on the property beyond the date of agreed possession. 6 . PERSONAL PROPERTY: Seller agrees to remove all personal property and plant inventory located on the Property prior to possession. Seller agrees that his or her "personal property" shall include all items, including nursery inventory, located outside each residence ' s yards, which shall remain the property of the Seller, whether considered of value or not by Seller, not classified as fixtures . Seller and Buyer expressly agree that Buyer shall have the right to inspect the Property prior to possession for the purpose of determining that all personal property has been removed. Page 4 7 . SELLER' S ENVIRONMENTAL REPRESENTATIONS : Seller represents that to the best of her knowledge as of the date this agreement is signed, she has complied with all matters arising out of all federal , state, foreign and local laws or administrative orders with respect to environmental conditions existing on the closing date including, without limitation, the Resource Conservation and Recovery Act, the Comprehensive Environmental Response, Compensation and Liability Act , the Superfund Amendments Re-authorization Act, the Model Toxics Control Act, the Spill Compensation and Control Act , and the Environmental Cleanup Responsibility Act, with respect to the purchased property. Such representation, and any liability that Seller may have for any breach thereof, shall survive the closing . In the event Buyer discovers or determines or is notified about existence of any environmental condition (including, without limitation, a spill , discharge or contamination) that existed as of and/or prior to the closing date or any act or omission occurring prior to the closing date, the result of which may require remedial action pursuant to any law or may be the basis for the assertion of any third party claims, including claims of governmental entities, Buyer shall promptly notify Seller thereof and Seller shall, at its sole cost and expense, proceed with due diligence and in good faith to take the appropriate action in response thereto. In the event that Seller fails to so proceed with due diligence and good faith, the Buyer may, at its option, terminate this agreement without prior notice . Page 5 8 . ADDITIONAL PROVISIONS : This agreement is subject to the following additional provisions : (A) CONVEYANCE (1) If this is for conveyance of fee title, title shall be by Warranty Deed free of encumbrances except those noted in Paragraph 2 above . (2) If this agreement provides for a sale by real estate contract, Seller and Buyer agree to execute a real estate contract for the balance of the purchase price on Real Estate Contract Form N/A, a copy of which is hereby tendered to the parties hereto, or such other form as attached hereto, and the terms of which are incorporated herein by reference . Said contract shall provide that title by conveyed by Warranty Deed. (3) If said property is subject to an existing contract, mortgage, deed of trust or other encumbrance which Seller is to continue to pay, Seller agrees to pay said contract, mortgage, deed of trust or other encumbrance in accordance with its terms, and upon default , Buyer shall have the right to make any payments necessary to remove the default, and any payments so made, shall be applied to the payments next falling due on the contract between Seller and Buyer herein. (4) If this agreement is for sale and transfer of vendee ' s interest under existing real estate contract, the transfer shall be by Buyer ' s assignment of contract and deed sufficient in form to convey after title is acquired. Page 6 (B) TITLE INSURANCE Buyer is authorized to apply for a preliminary commitment for a standard form Buyer ' s policy of title insurance to be issued by such title insurance company as the Buyer may designate . Said preliminary commitment, and the title policy to be issued shall contain no exceptions other than those provided for in such standard form and encumbrances or defects noted in paragraph 2 hereof . If title cannot be made so insurable prior to the closing date called for herein, unless Buyer elects to waive such defects or encumbrances, this agreement shall be terminated. (C) GENERAL PROVISIONS SQUARE FOOTAGE : Unless otherwise expressly stated to the contrary on the reverse hereof, any square footage as to the building or lot used by Seller or any real estate agent in marketing said property are understood to be approximations and are not intended to be relied upon to determine the fitness or value of the property. Buyer has personally observed the property and has reached its own conclusion as to the adequacy and acceptability of the size of property based upon said personal inspection. Page 7 (D) ENTIRE AGREEMENT THIS AGREEMENT, INCLUDING ALL INCORPORATED EXHIBITS, CONSTITUTES THE FULL UNDERSTANDING BETWEEN SELLER AND BUYER (and AGENT, if applicable) . THERE HAVE BEEN NO VERBAL OR OTHER AGREEMENTS THAT MODIFY THIS AGREEMENT. (E) CONTINGENCY CLAUSE If CONTINGENCIES paragraph on page one herein has been filled in, it is agreed that Seller may keep the property on the market and continue to show it until the contingency has been met or waived by Buyer. If prior to that time, Seller receives another acceptable offer to purchase the property, he shall give Buyer notice of his intent to accept the new offer . Seller ' s written notice shall be personally delivered to Buyer, or sent by certified mail to Buyer ' s address on the front side of this agreement . The specified number of days shall commence on the day after delivery or, if mailed, then on the third day following its deposit into the mail . In either case, said specified days shall expire at midnight of the last day unless that day is a Saturday, Sunday or legal holiday, in which event, it shall expire at midnight the next business day. If within said specified days, written notice from Buyer that said contingency has been met or waived is actually received by Seller or Listing Agent, or is delivered to Seller ' s address on the front side of this agreement , Buyer' s right to purchase hereunder shall continue in accordance herewith. In the event that Seller does not receive such notice from Buyer within the specified number of days, then this agreement shall be terminated. BUYER ' S Page 8 CONTINGENCY MAY ONLY BE WAIVED BY WRITTEN NOTIFICATION TO SELLER THAT BUYER HAS REMOVED THE CONTINGENCY. (F) DEFAULT AND ATTORNEY' S FEES If the Seller defaults in his or her contractual performance herein, the Buyer may seek specific performance pursuant to the terms of this agreement, damages, or recision. If the Buyer seeks damages or recision, the earnest money, upon demand, shall be returned in full to the Buyer. If the Buyer defaults in its contractual performance herein, the earnest money, upon demand, shall be forfeited to the Seller and shall be the sole and exclusive remedy for default available to the Seller. In the event of litigation to enforce any of the terms or provisions herein, each party shall pay all its own costs and attorney' s fees . (F) INCLUDED ITEMS 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, attached apparatus and fixtures, awnings, ventilating, heating and cooling systems, all outbuildings, barns, garages and their attached fixtures, shelving and other appurtenances, attached irrigation Page 9 equipment , and any oil or other fuel on hand at time of possession, unless otherwise specified. (G) CONDITION OF WELL ( if applicable) Seller warrants that : (1) The private well serving the property has always provided an adequate supply of household and yard water, meeting State Department of Social and Health purity standards; and (2) continued use of the well is authorized by a governmental permit or other established and existing water right, if required . (H) CONDITION OF SEPTIC TANK (if applicable) Seller warrants that the septic tank serving the property is in apparent working order and Seller has no knowledge of any needed repairs . (I) 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. Page 10 (J) INSPECTIONS Seller understands that BUYER MAY REQUIRE THAT THE PROPERTY COMPLY WITH THE HOUSING CODE and other governmental requirements of the city or county in which it is located. BUYER MAY ALSO REQUIRE THE FOLLOWING INSPECTIONS : [ ] Pest [ ] Electrical [ ] Heating [X] Septic Tank [ ] Plumbing [ ] Soil Survey [ ] Roof [ ] Well Water [ ] Structural [X] Asbestos [X] Phase One Environmental Assessment COST OF INSPECTION: Buyer agrees to pay, in advance, costs of any of the above inspections . OBLIGATIONS TO MAKE REPAIRS : Seller understands that as a result of any city, county or other inspections, he/she may be required to make repairs to the property in order to comply with the housing code whether or not a sale is completed under this agreement . (K) NOTICE TO SELLER, PURCHASER, AND AGENT/BROKER This form contains customary provisions for an agreement for the purchase and sale of residential real estate . The Buyer makes NO WARRANTY OR REPRESENTATION OF ANY KIND that this form, or any of its provisions, is intended to meet the factual and legal requirements of a particular transaction, or that it accurately reflects that laws of the State of Washington at the time you enter the agreement . THIS AGREEMENT HAS SIGNIFICANT LEGAL AND FINANCIAL CONSEQUENCES AND YOU ARE ADVISED TO SEEK INDEPENDENT LEGAL AND FINANCIAL Page 11 COUNSEL REGARDING THESE CONSEQUENCES . (If you do not understand the effect of any part, consult your Attorney before signing. Federal law may impose certain duties upon Brokers or Signatories when any of the signatories receive certain amounts of U. S . currency in connection with a real estate closing. ) 10 . AGREEMENT TO PURCHASE: Seller hereby acknowledges receipt of copy of this agreement . Buyer offers to purchase the above property on the above terms and conditions . Seller shall have until 5 : 00 p.m. , December 1 , 1995 to accept this offer by delivering a signed copy thereof to Buyer. or fu T Date hi a y 11 . SELLER' S ACCEPTANCE: " ' ��� '�"/ O 1925, Seller agrees to sell the property on the terms and conditions specified herein. Seller acknowledges receipt of a copy of this agreement, signed by both parties . r' (SELLER) Page 12 (SELLER) Phone : Seller ' s Address : APPROVED AS TO FORM: r)IU ROGER A. LUBOV I CH CITY ATTORNEY Page 13 EXHIBIT A The south half of the east half of the north half or the northeast quarter of the southeast quarter of Section 28 , Township 22 North, Range 5 East, W.M. , in King County, Washington; EXCEPT the south 20 feet thereof conveyed to King County for road by deed recorded under Recording Number 485231; AND EXCEPT that portion therof for 132nd Avenue Southeast. EXHIBIT B P09-1;QP - I, F 5 '4/ i- sae 1321.40 — — - - c VV-7 R Zee 1 x� 0 ♦III - - � LJ 1 Imo. tx G' r c ° Z Ao R s O i� N n SP266TH ST 12 13 i \ i 0 s°jii? I l r STEWART TITLE COMPANY OF WASHINGTON, INC. NORTH "A Tradition Order No. 2 Z 9 7 If Excellence" IMPORTANT: This is not a Plat of Survey. It is furnished as a convenience to locate the land indicated hereon with reference to streets and other land. No liability is assumed by reason of SOUTH reliance hereon. EXHIBIT C STEWART TITLE COMPANY OF WASHINGTON, :NC. 1201 Third Avenue, SuiiLe 3800 Seattle, Washington 98101 Senior Title Officer, Mike Sharkey Title Officer, Diana L . Cardenas-Ryland Unit No . 12 FAX Number 206-343-1330 Telephone Number 206-343-1327 City of Kent Parks Department 220 South 4th, 4th Floor Title Order No . : 278897 Kent, Washington 98032 Attention: Helen Wickstrom Customer Ref . : Don A. L. T. A. COMMITMENT SCHEDULE A Effective Date : October 30 , 1995 , at 8 : 00 a .m. 1 . Pacific Northwest Title Insurance Company Policy (ies) to be issued: A. ALTA Owner ' s Policy Amount TO BE AGREED UPON Standard (X) Extended ( ) Premium Tax Proposed Insured: CITY OF KENT B . WORK CHARGE Amount $250 . 00 Tax $ 20 . 50 2 . The estate or interest in the land described herein and which is covered by this commitment is fee simple . 3 . The estate or interest referred to herein is at Date of Commitment vested in: LESLIE A. DOW, as her separate estate (NOTE : SEE SPECIAL EXCEPTION NUMBER 9 REGARDING EXECUTION OF THE FORTHCOMING DOCUMENT (S) TO BE INSURED) . 4 . The land referred to in this commitment is situated in the County of King, State of Washington, and described as follows : The south half of the east half of the north half of the northeast quarter of the southeast quarter of Section 28 , Township 22 North, Range 5 East, W.M. , in King County, Washington; EXCEPT the south 20 feet thereof conveyed to King County for road by deed recorded under Recording Number 485231 ; AND EXCEPT that portion thereof for 132nd Avenue Southeast . STEWART TITLE COMPANY OF WASHINGTON, INC. A. L.T.A. COMMITMENT Schedule B Order No. 278897 I . The following are the requirements to be complied with: A. Instruments necessary to create the estate or interest to be insured must be properly executed, delivered and duly filed for record. B . Payment to or for the account of the grantors or mortgagors of the full consideration for the estate or interest to be insured. II . Schedule B of the Policy or Policies to be issued (as set forth in Schedule A) will contain exceptions to the following matters unless the same are disposed of to the satisfaction of the Company: A. Defects, liens, encumbrances, adverse claims or other matters, if any created, first appearing in the public records or attaching subsequent to the effective date hereof but prior to the date the proposed Insured acquires for value of record the estate or interest or mortgage thereon covered by this Commitment . B . GENERAL EXCEPTIONS : 1 . Rights or claims of parties in possession not shown by the public records . 2 . Public or private easements, or claims of easements, not shown by the public record. 3 . Encroachments, overlaps, boundary line disputes, or other matters which would be disclosed by an accurate survey or inspection of the premises . 4 . Any lien, or right to a lien, for services, labor or material heretofore or hereafter furnished, imposed by law and not shown by the public records, or Liens under the Workmen ' s Compensation Act not shown by the public records . 5 . Any title or rights asserted by anyone including but not limited to persons, corporations, governments or other entities, to tide lands, or lands comprising the shores or bottoms of navigable rivers, lakes, bays, ocean or sound, or lands beyond the line of the harbor lines as established or changed by the United States Government . 6 . (a) Unpatented mining claims; (b) reservations or exceptions in patents or in -Acts authorizing the issuance thereof; (c) water rights, claims or title to water. 7 . Any service, installation, connection, maintenance, capacity, or construction charges for sewer, water, electricity or garbage removal . 8 . General taxes not now payable or matters relating to special assessments and special levies, if any, preceding the same becoming a lien. 9 . Indian tribal codes or regulations , Indian treaty or aboriginal rights, including, but not limited to, easements or equitable servitudes . C. SPECIAL EXCEPTIONS : As on Schedule B, attached. Order No . 278897 A. L. T .A. COMMITMENT SCHEDULE B Page 2 SPECIAL EXCEPTIONS : 1 . EASEMENT AND THE TERMS AND CONDITIONS REFERENCED THEREIN, INCLUDING BUT NOT LIMITED TO, THE FOLLOWING: GRANTEE : Puget Sound Power & Light Company, a Washington corporation PURPOSE : An underground electric distribution system AREA AFFECTED: The north 10 feet of the east 420 feet of said premises DATED: August 3 , 1989 RECORDED: August 16 , 1989 RECORDING NUMBER: 8908160743 2 . AGREEMENT AND THE TERMS AND CONDITIONS THEREOF : BY AND BETWEEN: Charles and Leslie Dow and King County DATED: Not disclosed RECORDED: October 18 , 1988 RECORDING NUMBER: 8810180693 REGARDING: When the existing septic system serving the proposed residence fails, an alternative type of septic system such as a sand filter or mound will be required to be installed in the reserve area as a repair to the existing system. 3 . GENERAL AND SPECIAL TAXES AND CHARGES : FIRST HALF DELINQUENT MAY 1 , IF UNPAID : SECOND HALF DELINQUENT NOVEMBER 1, IF UNPAID : YEAR: 1995 TAX ACCOUNT NUMBER: 282205- 9023-01 LEVY CODE : 5175 CURRENT ASSESSED VALUE : Land: $131, 200 . 00 Improvements : $167, 700 . 00 GENERAL TAXES : AMOUNT BILLED : $4 , 657 . 05 AMOUNT PAID: $2 , 328 . 52 AMOUNT DUE : $2 , 328 . 53 (continued) Order No . 278897 A. L. T.A. COMMITMENT SCHEDULE B Page 3 SPECIAL DISTRICT: AMOUNT BILLED : $1 . 25 AMOUNT PAID : $ . 63 AMOUNT DUE : $ . 62 NOTE : IF THE TAXES AND CHARGES CANNOT BE DIVIDED EQUALLY BY 2 , THE HIGHER AMOUNT MUST BE PAID FOR THE FIRST HALF PAYMENT. 4 . SURFACE WATER MANAGEMENT SERVICE CHARGE, LEVIED PURSUANT TO KING COUNTY ORDINANCE NO. 7590 OR CITY OF SEATTLE ORDINANCE NO. 114155 ; FIRST HALF PAYMENT DELINQUENT MAY 1 , IF UNPAID, SECOND HALF PAYMENT DELINQUENT NOVEMBER 1, IF UNPAID : YEAR: 1995 AMOUNT BILLED: $85 . 02 AMOUNT PAID: $42 . 51 AMOUNT DUE : $42 . 51 TAX ACCOUNT NUMBER : 282205-9023-01 NOTE : If the taxes cannot be divided equally by 2 , the higher amount must be paid for the first half payment . The above charges are payable with general taxes . Payment should be made to the King County Director of the Office of Finance . 5 . DEED OF TRUST AND THE TERMS AND CONDITIONS THEREOF: GRANTOR: Charles L. Dow and Leslie A. Dow, husband and wife TRUSTEE : Transamerica Title Insurance Company BENEFICIARY: Washington Federal Savings and Loan Association AMOUNT: $165 , 000 . 00 DATED : August 21, 1989 RECORDED: August 25 , 1989 RECORDING NUMBER: 8908251285 The amount now secured by said Deed of Trust and the terms upon which the same can be discharged or assumed should be ascertained from the holder of the indebtedness secured. (continued) Order No. 278897 A. L. T.A. COMMITMENT SCHEDULE B Page 4 6 . DEED OF TRUST AND THE TERMS AND CONDITIONS THEREOF : GRANTOR: Charles L . Dow and Leslie A. Dow, husband and wife TRUSTEE : Puget Sound Mortgage Servicing Corporation BENEFICIARY: Puget Sound National Bank AMOUNT: $30 , 539 . 38 DATED : July 18 , 1991 RECORDED : July 22 , 1991 RECORDING NUMBER: 9107221026 The amount now secured by said Deed of Trust and the terms upon which the same can be discharged or assumed should be ascertained from the holder of the indebtedness secured. 7 . DEED OF TRUST AND THE TERMS AND CONDITIONS THEREOF: GRANTOR: Leslie A. Dow TRUSTEE: Sharon E . Burrows, Attorney at Law BENEFICIARY: Charles L. Dow AMOUNT: $30 , 000 . 00 DATED : October 3 , 1994 RECORDED : November 10 , 1994 RECORDING NUMBER: 9411101144 The amount now secured by said Deed of Trust and the terms upon which the same can be discharged or assumed should be ascertained from the holder of the indebtedness secured. 8 . A Lien on the herein described property, which was also entered as a judgment, imposed by order or decree entered on date shown below in King County Superior Court Cause Number herein noted being an action for dissolution of marriage between the parties as noted. JUDGMENT NUMBER : 94-9-24259-3 CAUSE NUMBER: 93-3-07902-1 PETITIONER: Leslie A. Dow RESPONDENT : Charles L . Dow LIEN IN FAVOR OF : Charles L . Dow AMOUNT : $30 , 000 . 00 , plus interest and other amounts which may have been imposed (continued) Order No. 278897 A. L.T .A. COMMITMENT SCHEDULE 3 Page 5 WARNING: THIS AMOUNT IS NOT TO BE USED AS A BASIS FOR CLOSING ANY SALE OR LOAN TRANSACTION. THE AMOUNT NOW OWING AND THE REQUIREMENTS TO OBTAIN A SATISFACTION OR RELEASE OF SAID JUDGMENT MUST BE OBTAINED FROM THE JUDGMENT CREDITOR OR THE ATTORNEY. ATTORNEY FOR JUDGMENT CREDITOR: Marilyn A. Holzman Telephone No . : 756-6566 9 . QUESTION OF THE EXISTENCE OF AN "AUTOMATIC HOMESTEAD" : If the subject property is, or will be, the residence of a marital community, even though the interest therein may be intended to be the separate property of either spouse, execution of the proposed encumbrance, conveyance or contract to convey must be by both husband and wife, pursuant to R. C.W. 6 . 13 , which provides for an "automatic homestead" , and R. C .W. 26 . 16 . 030 . 10 . Until the amount of the policy to be issued is provided to us, and entered on the commitment as the amount of the policy to be issued, it is agreed by every person relying on this commitment that we will not be required to approve any policy amount over $100, 000 , and our total liability under this commitment shall not exceed that amount . 11 . Payment of Real Estate Excise Tax, if required. The property described herein is situated within the boundaries of local taxing authority of unincorporated King County. Present Rate of Real Estate Excise Tax as of the date herein is 1 . 780 . END OF SCHEDULE B Title to this property was examined by: David Clasen Any inquiries should be directed to one of the title officers set forth in Schedule A. DVC/dh/4973X PoR�iQu Al i- zoe 1321.4:: - - - 11 I 0 �n .af - �- Ln Ln ° Z pf �V I 1,22 s L�Nr.0 SE 266TH ST !s �ce.0 I i3z 490r. 3e r � o v � t 2 ti STEWART TITLE COMPANY OF WASHINGTON, INC. NORTH "A Tradition Order No. 2 d' 9 7 Y Ercelknce" IMPORTANT: This is not a Plat of Survey. It is furnished as a convenience to locate the land indicated hereon with reference to streets and other land. No liability is assumed by reason of SOUTH reliance hereon. O • • • <' � (D 0a m S� ! o m • 9 xt 17FAa Oa rizi D N _n — c �, c a: n v w = O O `� '.w CL ca n U)< -n = m M• Z g o z Dr z c m l N G) Z i v co w m w 0 ri500 -I Q. � m c0°i, Z c o a aolp 00 -� < ODn (P .- o = O WcnN o O 0 > Ol A O O m ' (D N m ooC)o C D U) C)-M W a a 2Z = vim_ m�C� a C v m p 0 -00 v ZO-0= $ �' m am M m �7m0G oom> m C7 Q cn a -0 m o ym z 71 rm .� Crl Q � m (D m a V C7 CO x OC"D' Sv cmnz�CD rr Pi N tD _r © 0mC: I D <, omm ID CD m r m -t < .. r•h Q r T 31 Z O Z n 0 1 2 E � r OD> cn c mm- o B z r '�f -i z< f9 �,: OD0 N D UP mm t.n cn n m0- O�_ ��D 0 m N zz-0 Dv DZOOO a� zo D O mM om° _ M C �Z �E co o c Z r o m z T ' D —ngm C— L� m � O Z � � m c D Z ro 5 0 Q a a' r �Z�m� D n '^ x 7 � -n �mC)m < Trn M m� m m 6v ( O O o�cmzo m�c)0 r (n Z • 1 .« y 7020< �. �G mmCmD rfI n Q n Z _ � (n r N _ �mZmp D 'o D o � 'O o m n Z m _ O �a<c m 3 2: ZU, m 0) N � K im>o my c mo v nr�m m oD. D y oo --FZ 0 r r ... rn -N =00 m (D D n m Cl)mmD m N o O a�comci 'n O M CL m-i=Z� r to y a d o C/)0 N o r- O 10 Ovzn� lD ' 4Zmmi�= 00�cnm n ADDENDUM "A" The following is part of the purchase and sale agreement dated 11/15/95 between Leslie Dow, the Seller, and the City of Kent, The Buyer. It is agreed between the the Seller and Buyer as follows: Paragraph 7 and 8 have been removed from the agreement. Seller represents that to the best of her knowledge, she has complied with all matters arising out of all federal, state, foreign and local laws or administrative orders of which she was aware of at the time this contract was entered into with respect to environmental conditions. If the buyer becomes aware of any dangerous or hazardous substances prior to closing, they have the right not to purchase the property and neither party will have any further obligations to the other. Buyer Date Seller Dade s Agent(Company) By "A Tradition of Excellence" STEWART TITLE COMPANY Suit Third Avenue Suite 3800 OF WASHINGTON,INC. Seattle,Washington 98101-3055 (206)622-1040 Fax.(206)343-1358 City of Kent, a municipality Parks Department/Helen Wickstom 220 4th Avenue South Kent , Washington 98032 Order No . : 278897 Enclosed is your Policy for Title Insurance on the above-referenced transaction. Thank you for the opportunity of serving you . We look forward to working with you again . Mike Sharkey Senior Title Officer Unit 12 BELLEVUE OFFICE FEDERAL WAY OFFICE NORTHGATE OFFICE 10801 Main Street 1010 South 336th Street Noringate Executive Building II Suite 115 Suite 120 9725 3rd Avenue NE Bellevue,Washington 98004-6366 Federal Way,Washington 98003-4568 Suite 204 (206)646-4155 (206)838-1458 Seattle,Washington 98115-2024 Fax.(206)646-4164 Fax.(206)838-2027 (206)522-9490 Fax.(206)522-9526 POLICY OF TITLE. INSURANCE ISSUED BY SUBJECT TO THE EXCLUSIONS FROM COVERAGE, THE EXCEPTIONS FROM COVERAGE CONTAINED IN SCHEDULE B AND THE CONDITIONS AND STIPULATIONS, PACIFIC NORTHWEST TITLE INSURANCE COMPANY, INC., a Washington corporation, herein called the Company, insures, as of Date of Policy shown in Schedule A, against loss or damage, not exceeding the Amount of Insurance stated in Schedule A, sustained or incurred by the insured by reason of: 1. Title to the estate or interest described in Schedule A being vested other than as stated therein; 2. Any defect in or lien or encumbrance on the title; 3. Unmarketability of the title; 4. Lack of a right of access to and from the land. The Company will also pay the costs, attorneys' fees and expenses incurred in defense of the title, as insured, but only to the extent provided in the Conditions and Stipulations. IN WITNESS WHEREOF, Pacific Northwest Title Insurance Company, Inc. has caused this policy to be signed and sealed by its duly authorized officers as of the Date of Policy shown in Schedule A. PACIFIC NORTHWEST TITLE President Insuram e Company. Inc. Countersign �\SlE INSp9 �� �3;�QgppggTf•'�a Authorized Signator SEAL`= Stewart Title Company of Wa., Inc. Z. ��ASHIN6��� Company ' City,State EXCLUSIONS FROM COVERAGE 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 separation 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 encumbrance 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 Policy 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 insired 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 this policy; (c) resulting in no loss or damage to the insured claimant: (d) attaching or created subsequent to Date of Policy, or (e) resulting in loss or damage which would not have been sustained if the insured claimant had paid value for the estate or interest insured by this policy. 0.1093- 004695 ALTA OWNER'S POLICY—10-17-92 Standard Coverage PACIFIC NORTHWEST TITLE INSURANCE COMPANY, INC. A.L.T.A. OWNER' S POLICY SCHEDULE A Order No. : 278897 Policy No . : 1093-004695 Policy Date : January 5 , 1996 Policy Amount : $575 , 000 . 00 at 2 : 15 p .m. 1 . Name of Insured: CITY OF KENT, a municipality 2 . The estate or interest in the land described herein and which is covered by this Policy is : FEE SIMPLE 3 . The estate or interest referred to herein is at date of Policy vested in: CITY OF KENT, a municipality 4 . The land referred to in this Policy is described as follows : The south half of the east half of the north half of the northeast quarter of the southeast quarter of Section 28 , Township 22 North, Range 5 East, W.M. , in King County, Washington; EXCEPT the south 20 feet thereof conveyed to King County for road by deed recorded under Recording Number 485231 ; AND EXCEPT that portion thereof for 132nd Avenue Southeast . Standard Coverage PACIFIC NORTHWEST TITLE INSURANCE COMPANY, INC. A. L. T.A. OWNER ' S POLICY SCHEDULE B Policy No . : 1093-004695 This policy does not insure against loss or damage by reason of the following: GENERAL EXCEPTIONS : 1 . Rights or claims of parties in possession not shown by the public records . 2 . Easements, or claims of easements, not shown by the public record. 3 . Encroachments, overlaps, boundary line disputes , or other matters which would be disclosed by an accurate survey or inspection of the premises . 4 . Any lien, or right to a lien, for services, labor or material heretofore or hereafter furnished, imposed by law and not shown by the public records, or liens under the Workmen ' s Compensation Act not shown by the public records . 5 . Any title or rights asserted by anyone including but not limited to persons corporations, governments or other entities, to tide lands , or lands comprising the shores or bottoms of navigable rivers, lakes, bays, ocean or sound, or lands beyond the line of the harbor lines as established or changed by the United States Government . 6 . (a) Unpatented mining claims ; (b) reservations or exceptions in patents or in Acts authorizing the issuance thereof ; (c) water rights, claims or title to water . 7 . Taxes or special assessments which are not shown as existing liens by the public records . 8 . Any service, installation, connection, maintenance, capacity, or construction charges for sewer, water, electricity or garbage removal . 9 . Indian tribal codes or regulations, Indian treaty or aboriginal rights, including, but not limited to, easements or equitable servitudes . SPECIAL EXCEPTIONS : As on Schedule B, attached. (continued) Policy No . : 1093-004695 A.L.T.A. OWNER' S POLICY SCHEDULE B Page 2 SPECIAL EXCEPTIONS : 1 . EASEMENT AND THE TERMS AND CONDITIONS REFERENCED THEREIN, INCLUDING BUT NOT LIMITED TO, THE FOLLOWING: GRANTEE : Puget Sound Power & Light Company, a Washington corporation PURPOSE : An underground electric distribution system AREA AFFECTED : The north 10 feet of the east 420 feet of said premises DATED : August 3 , 1989 RECORDED: August 16 , 1989 RECORDING NUMBER: 8908160743 2 . AGREEMENT AND THE TERMS AND CONDITIONS THEREOF : BY AND BETWEEN: Charles and Leslie Dow and King County DATED : Not disclosed RECORDED: October 18 , 1988 RECORDING NUMBER: 8810180693 REGARDING: When the existing septic system serving the proposed residence fails, an alternative type of septic system such as a sand filter or mound will be required to be installed in the reserve area as a repair to the existing system. 3 . GENERAL AND SPECIAL TAXES AND CHARGES NOT YET DUE AND PAYABLE : YEAR: 1996 AMOUNT: NOT YET AVAILABLE TAX ACCOUNT NUMBER: 282205-9023-01 END OF SCHEDULE B TH/hls/4973X • I � PoR�ip ►� w6 '�y 56 yl� 22- s { 1 ' wl 0 vai 1 c Z N{ m N G tt4 - sE 2ssrH ST 4.919 1 � E VR � V 7 { I� STEWART TITLE COMPANY OF WASHINGTON, INC. NORTH "A Tradition Order No. 2 8 -el 7 of Excelknee„ IMPORTANT: This is not a Plat of Survey. It is furnished as a convenience to locate the land indicated hereon with reference to streets and other land. No liability is assumed by reason of SOUTH reliance hereon. 28 ' T wp 22 /V R 5�E W" .. SCALE -R/A L SUR VEY O 37 ® '� • ! O oo 140 � � i+3• —moo %I 2(y !2 4 ti �i N 7" 41 I VON h 265�y 0 34� zoo I W\5 I J SE 266 Ty S T DO 48523/ — — — — — 1 . w'/2 9oEs+,r�sobza�ss � •;;j Escrow No. 95464 Estimated Close Date: January 5, 1996 Reference: 26521 132nd Ave. S. E. Report Print Date: December 29, 1995 Kent, WA 98042 Page 1 er ESTIMATED Buy O BUYER: SING STATEMENT City of Kent, a Municipality 220 4th Ave. S. Kent, WA 98032 DEBITS - - - - CREDITS - - CONSIDERATION: Total Consideration 575,000.00 TITLE CHARGES: Record Statutory Warranty Deed 7.45 ESCROW FEES: Escrow Fees Sales Tax 400.00 32.80 Balance Due Escrow Totals 575,440.25 $ 575,440.25 $ 575,440.25 NOTICE: This estimated closing statement is subject to changes, corrections or additions at the time of final computation of closing escrow statement. City Kent, a y b i e, Mayor December 28, 1995 Escrow No. 95464 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 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) : Cit o Kent, a al Leslie A. Dow By: Ji White, Mayor DATE DATE ACCOUNTABLE ESCROW, INC. 1 nAA TQ_ .TAmma f2Tn4to I A7 _r_�Fr TDSATChf'MTnTT Vf]TTi] T T"YM"n ncfTnTTnV /1c�L:Sa�n Tn _ n...n..:*�* nr+�..c�e. r --J& nA ...rrn 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. 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. 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. Sherian Grime Escrow Office ESCROW INSTRUCTIONS LPO/Escrow Form 1E (10/89) @1989 F.B. Phillips Leslie A. Dow Page 4 ACCOUNTABLE ESCROW, INC. 1048 W. James, Suite 102 Rent, WA 98032 Escrow File No. 95464 File Name: / DOW 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 STEWART TITLE COMPANY OF WASHINGTON, INC. under order number 278897, 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: 1. Sale proceeds for the seller's account in the sum of $ 575,000.00, to be disbursed according to the settlement statement, and 2. 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 $ 575,000.00, 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. 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. Proceeds Check: Seller will pick up proceeds check. or Mail proceeds check to seller at: Page 1 Additional Instructions: Buyer(s) and seller(s) advise escrow agent that all the terms and conditions of their purchase and sale agreement and any addendums have been met and satisfied and instruct escrow agent to close, record and disburse. Buyer advise escrow agent that buyers will obtain and pay for hazard insurance on subject property on their own and escrow is not to be concerned with purchasing hazard insurance on this property for the City of Kent. Buyer and Seller advise escrow agent that the question of possession and personal property shall be handled between the buyer and seller outside of this escrow. The buyer, City of Kent, advises escrow that it has completed the inspections for the septic, asbestos and phase one environmental assessment OR WAIVE THEM as stated on page 11 item J on the purchase and sale agreement and instruct escrow to proceed to close as noted above. 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 If Kent, "a." liinia ity By: W White, Mayor SUPPLEMENT TO ESCROW INSTRUCTIONS LPO/Escrow Form 2E (10/89) @1989 F.B. Phillips Leslie A. Dow DATE: Page 2