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HomeMy WebLinkAboutPK1995-0187 - Original - Eric and Veronica Meldrum - Purchase of 120 North Kennebeck Avenue - 12/03/1995 REAL ESTATE PURCHASE AND SALE AGREEMENT with EARNEST MONEY PROVISION MELDRUM 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 Eric and Veronica Meldrum, whose mailing address is 120 N. Kennebeck Avenue, Kent , W 98031, ( "Seller" ) , entered into in Kent, Washington, this 13day of _ �Q(p�,nnla Slr.� 1995 . Received from Buyer, Two Thousand and no/100th Dollars ($2 , 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 120 N. Kennebeck Avenue, Kent, WA 98031 (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 One Hundred Ninety Four Thousand and no/100th Dollars ($194 , 000 . 00) payable by an Accountable Escrow check on closing. Purchase price excludes all appliances, except built in appliances, pot bellied Page 1 stove, claw foot bath tub, glass door knobs, (which will be replaced with standard door knobs) , ceiling fan, and air- circulating shelving. The Owner maintains salvage rights over all items in the house should the Buyer choose to demolish the house within twelve (12) months of closing. [X] CONTINGENCIES: This agreement is contingent upon acceptance of its terms by the Kent City Council 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 [ ] well [XI public sewer [ ] 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 [X] 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 Page 2 possession, (7) [ ] that shares in light and/or water companies and associations, if any, shall be included in the sale, unless noted, (8) [XI that he/she has no knowledge or notice from any governmental agency of any violation of laws relating to the subject property except : NONE. 2 . TITLE: Seller to provide title insurance at closing, to be issued by Stewart Title Company, 1201 Third Avenue, Suite 3800 , Seattle, WA 98101-3055 . Title to the property is to be free from all encumbrances or defects except (i . e . , ULID, etc . ) : paraaraiph 1 2 3 4 , 5 , 6 , of Stewart Title Company Report No . 280277 dated November 22 1995 as 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 Page 3 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. 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 December 20 , 1995 , 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, 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: Buyer shall be entitled to possession on [] closing, or [x] January 31, 1996 . Seller agrees to pay the Buyer the sum of $20 . 00 for each day of possession beyond the date of agreed possession of January 31, 1996 . (Said payment shall be the sole responsibility of the Seller, due on demand. ) 6 . PERSONAL PROPERTY: Seller agrees to remove all personal property located on the Property prior to closing. Seller Page 4 agrees that his or her "personal property" shall include all items , 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. 7 . SELLER' S ENVIRONMENTAL REPRESENTATIONS : Seller represents that he/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 Page 5 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 . 8 . SELLER' S INDEMNITIES : Seller agrees to indemnify and hold harmless the Buyer, against and in respect of, any and all damages, claims, losses, liabilities, judgments, demands, fees, obligations, assessments, and expenses and costs, including, without limitation, reasonable legal, accounting, consulting, engineering and other expenses which may be imposed upon or incurred by Buyer, or asserted against Buyer, by any other party or parties (including, without limitation, a governmental entity) , arising out of or in connection with any environmental condition existing as of and/or prior to the closing date, including the exposure of any person to any such environmental condition, regardless of whether such environmental condition or exposure resulted from activities of Seller or Seller' s predecessors in interest . This indemnity shall survive the closing and be in addition to Seller' s obligation for breach of a representation or warranty as may be set forth herein. 9 . ADDITIONAL PROVISIONS : This agreement is subject to the following additional provisions : (A) CONVEYANCE Page 6 (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. (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 Page 7 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. (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 Page 8 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 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, Page 9 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, swag lamps and ceiling fan) , 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 (except claw foot bath tub) , attached apparatus and fixtures, awnings, ventilating, heating and cooling systems (except pot bellied stove) , all outbuildings, barns , garages and their attached fixtures, shelving (except air-circulating shelving) , and other appurtenances, attached irrigation 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 Page 10 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. (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 [ ] Septic Tank [ ] Plumbing [ ] Soil Survey [ ] Roof [ ] Well Water [ ] Structural [ ] Asbestos COST OF INSPECTION: Seller agrees to pay, in advance, costs of any of the above inspections . OBLIGATIONS TO MAKE Page 11 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 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 5 . 1995 to accept this offer by delivering a signed copy thereof to Buyer. Page 12 r C g Ji white, Mayor Date 11 . SELLER' S ACCEPTANCE: On this 3 day of wceAMk&Qn% 1995 , 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 . t C R I t— L. M E LO RIJ N( ELLER) �F12OI19(CA- Ct` 1��4ELLER) Phone : Seller' s Address : la n ' "' "' APPROVED AS TO FORM: Al r ,,.ROGER A. LUBOVICH CITY ATTORNEY Page 13 EXHIBIT A Order No. 280277 A. L.T .A. COMMITMENT SCHEDULE A Page 2 The land referred to in this commitment is situated in the county of King, state of Washington, and described as follows : Commencing at a point on the west line of Section 19 , Township 22 North, Range 5 East, W.M. , in King County, Washington, where the said line is intersected by the south line of Smith Street in the City of Kent , as the same is shown in the plat of Clark' s 2nd Addition to the Town of Kent, according to the plat thereof recorded in Volume 15 of Plats, page 72 , in King County, Washington; thence running north 8800812511 east , along the south line of said Smith Street, a distance of 30 feet ; thence south parallel to the west line of said Section 19 , along the east line of Kennebeck Avenue, 230 feet to the TRUE POINT OF BEGINNING, which point is also the southwest corner of a tract conveyed to George A. Feroe, according to the deed thereof recorded in Volume 2537 of Deeds, page 218 , in King County, Washington; thence running south 10 feet; thence west 17 . 6 feet ; thence south 120 feet, more or less, to a point 180 feet north of the north line of Meeker Avenue extended easterly; thence south 89030 ' east 120 . 1 feet to the west line of a tract conveyed to Hazel Hitchcock, according to the deed thereof recorded in Volume 2239 of Deeds, page 189 , in King County, Washington; thence north a distance of 97 feet , more or less, to the south line of the said tract conveyed to George A. Feroe, according to the deed thereof recorded in Volume 2537 of Deeds, page 218 thereof ; thence running northwesterly along said south line of said Feroe Tract, which follows a curve to the left having a radius of 172 . 5 feet, a distance of 109 feet, more or less, to the TRUE POINT OF BEGINNING. END OF SCHEDULE A EXHIBIT B ..r jj.,e�w,r ...sr.f. i1 �7FArT �• �+1/ 14 : SMITH ST " n.r.ge 3,.a /a1 IS _ two t _ u �,ti �`ry•Sj �A01 19 �3�h 1 CE d ziz „7 METERY e�' ?� •• • gI IL f4Ar a. SOT AC- Lr \ b �i STEWART TITLE COMPANY OF WASHINGTON, INC. NORTH "A Tradition Order No. Of E,rcellence•' 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, INC. 1201 Third Avenue, Suite 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 Fourth, 4th Floor Title Order No. : 280277 Kent , Washington 98032 Attention: Helen Wickstrum Customer Ref . : Meldrum A. L. T. A. COMMITMENT SCHEDULE A Effective Date : November 22 , 1995 , at 8 : 00 a.m. 1 . Pacific Northwest Title Insurance Company Policy (ies) to be issued: ALTA Owner ' s Policy Amount $194 , 000 . 00 Standard (X) Extended ( ) Premium $ 730 . 00 Tax $ 59 . 86 Proposed Insured: CITY OF KENT 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: LOWELL B . REED, SR. and IRIS E . REED, husband and wife 4 . The land referred to in this commitment is situated in the County of King, State of Washington, and described as follows : As on Schedule A, page 2 , attached. Order No. 280277 A.L .T.A. COMMITMENT SCHEDULE A Page 2 The land referred to in this commitment is situated in the county of King, state of Washington, and described as follows : Commencing at a point on the west line of Section 19, Township 22 North, Range 5 East, W.M. , in King County, Washington, where the said line is intersected by the south line of Smith Street in the City of Kent, as the same is shown in the plat of Clark' s 2nd Addition to the Town of Kent, according to the plat thereof recorded in Volume 15 of Plats, page 72 , in King County, Washington; thence running north 8800812511 east, along the south line of said Smith Street, a distance of 30 feet ; thence south parallel to the west line of said Section 19, along the east line of Kennebeck Avenue, 230 feet to the TRUE POINT OF BEGINNING, which point is also the southwest corner of a tract conveyed to George A. Feroe, according to the deed thereof recorded in Volume 2537 of Deeds, page 218 , in King County, Washington; thence running south 10 feet ; thence west 17 . 6 feet ; thence south 120 feet, more or less, to a point 180 feet north of the north line of Meeker Avenue extended easterly; thence south 89030 ' east 120 . 1 feet to the west line of a tract conveyed to Hazel Hitchcock, according to the deed thereof recorded in Volume 2239 of Deeds, page 189 , in King County, Washington; thence north a distance of 97 feet, more or less, to the south line of the said tract conveyed to George A. Feroe, according to the deed thereof recorded in Volume 2537 of Deeds, page 218 thereof ; thence running northwesterly along said south line of said Feroe Tract , which follows a curve to the left having a radius of 172 . 5 feet , a distance of 109 feet, more or less, to the TRUE POINT OF BEGINNING. END OF SCHEDULE A STEWART TITLE COMPANY OF WASHINGTON, INC. A.L. T.A. COMMITMENT Schedule B Order No . 280277 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 . 280277 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 : George Feroe PURPOSE : Ingress and egress AREA AFFECTED: The northerly 40 feet of said premises RECORDED: October 9 , 1946 RECORDING NUMBER: 3616360 Contains a covenant to bear equal share of the maintenance of said roadway. 2 . EASEMENT AND THE TERMS AND CONDITIONS REFERENCED THEREIN, INCLUDING, BUT NOT LIMITED TO, THE FOLLOWING: GRANTEE : George Feroe PURPOSE : Sewer pipe AREA AFFECTED: The northerly 12 feet of said premises RECORDED: October 9 , 1946 RECORDING NUMBER: 3616360 3 . EASEMENT AND THE TERMS AND CONDITIONS REFERENCED THEREIN, INCLUDING, BUT NOT LIMITED TO, THE FOLLOWING: GRANTEE : Hazel C . Hitchcock PURPOSE : Ingress and egress AREA AFFECTED : The northerly 40 feet of said premises RECORDED: July 2 , 1947 RECORDING NUMBER: 3701538 4 . EASEMENT AND THE TERMS AND CONDITIONS REFERENCED THEREIN, INCLUDING, BUT NOT LIMITED TO, THE FOLLOWING: GRANTEE : The City of Kent, a municipal corporation PURPOSE : Sewer AREA AFFECTED: As constructed over a portion of said premises RECORDED: July 6 , 1954 RECORDING NUMBER: 4461593 (continued) Order No. 280277 A. L.T.A. COMMITMENT SCHEDULE B Page 3 5 . EASEMENT AND THE TERMS AND CONDITIONS REFERENCED THEREIN, INCLUDING, BUT NOT LIMITED TO, THE FOLLOWING: GRANTEE : City of Kent, a municipal corporation PURPOSE : Sanitary sewers AREA AFFECTED : As constructed over a portion of said premises RECORDED : April 15 , 1975 RECORDING NUMBER: 7504150062 and 7504150064 6 . 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 : As constructed over a portion of said premises DATED : June 12 , 1981 RECORDED: June 30 , 1981 RECORDING NUMBER: 8106301104 7 . CONTRACT OF SALE AND THE TERMS AND CONDITIONS THEREOF : SELLER: Lowell B . Reed, Sr. and Iris Reed PURCHASER: Eric and Veronica Meldrum DATED: October 5 , 1993 RECORDED: November 4 , 1993 RECORDING NUMBER: 9311040421 EXCISE TAX RECEIPT NUMBER: E-1340585 NOTE : Said instrument contains an incomplete legal description and should be re-recorded to attach a legal description as set forth in Schedule A of this title insurance commitment . 8 . Payment of Real Estate Excise Tax, if required. The property described herein is situated within the boundaries of local taxing authority of City of Kent . Present Rate of Real Estate Excise Tax as of the date herein is 1 . 536 . (continued) Order No .. 280277 A. L.T.A. COMMITMENT SCHEDULE B Page 4 NOTE 1 : GENERAL AND SPECIAL TAXES AND CHARGES : YEAR: 1995 TAX ACCOUNT NUMBER: 192205-9036-07 LEVY CODE : 1525 CURRENT ASSESSED VALUE : Land: $50 , 000 . 00 Improvements : $71, 100 . 00 GENERAL TAXES : AMOUNT BILLED: $1 , 887 . 28 AMOUNT PAID: $1, 887 . 28 SPECIAL DISTRICT: AMOUNT BILLED: $1 . 25 AMOUNT PAID: $1 . 25 NOTE 2 : Please be aware that should this transaction cancel , there will be a minimum cancellation fee of $50 . 00 plus tax of $4 . 10 . END OF SCHEDULE B Title to this property was examined by: Peter Johndrow Any inquiries should be directed to one of the title officers set forth in Schedule A. PJ/dfl/6484X GLf�I is 0'l •� .,.,..,6 SMITH _ ST nc ro`'wr , •:•try is . st i•♦r ��• yet�d•w'Key.� y« ,_ Ia77Je _ S 17 S✓ r���r ,' - �7/1irlr,RG A 040 z 0 O \r15kew .l ✓ i,� y �} fill oµB tr 4v '� i �• Sr 6 r.z CEMETERY it, : a V 41 7l i7m ei. 4we _ i t � Cb. '� ,.w a � �C it t Opt its i a STEWART TITLE COMPANY OF WASHINGTON, INC. NORTH "A Tradition Order No. of Ercellence" I APORTA T: 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 SOUTHreliance hereon. 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E��1cstJ,unc,tihc� Suitr 102 P.O.N)x li(,nt,WA 118035-I2 L) 206-854-7767 206-854-6183 Fax February 3, 1996 Helen Wickstrom City of Kent Parks Dept. 220 S. 4th Avenue Kent, WA 98031 RE: Escrow No. 95457 Meldrum to City of Kent Property Address: 120 N. Kennebeck Avenue Kent, WA 98031 Dear Helen: In connection with the above referenced property, we are forwarding from the Stewart Title Company your final title insurance policy. Thank you for the opportunity to serve you in this transaction. If you have any questions, please do not hesitate to contact our office. Sincerely, iarPGrimes Escrow Officer, LPO, V.P. "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 Accountable Escrow, Inc . 1048 West James, #102 Kent, Washington 98032 Attention: Sherian Grimes Order No. : 280277 Your Ref . : 95457/City of Kent Enclosed is your Policy for Title Insurance on the above-referenced transaction. Thank you for the opportunity of serving you . We look forward to working with you again. Mike Sharkey Senior Title Officer Unit 12 BELLEVUE OFFICE FEDERAL WAY OFFICE NORTHGATE OFFICE 10801 Main Street 1010 South 3361h Street Northgate 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. A& - PACIFIC NOR l'HW EST TI ru,, President Insurance Company, Inc. Countersigned by: LE I NS(;R4�c oppPoHgTf`o Authorized Signatory Coal ally of V"'! , Jy'••• 1920••'•? ��ASHINOZ0�.9 Company`..;...t`. , 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 violat on 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 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 this policy: I (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- 004467 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 . : 280277 Policy No. : 1093-004467 Policy Date : December 15 , 1995 Policy Amount : $194 , 000 . 00 at 12 : 51 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 : Commencing at a point on the west line of Section 19, Township 22 North, Range 5 East, W.M. , in King County, Washington, where the said line is intersected by the south line of Smith Street in the City of Kent, as the same is shown in the plat of Clark ' s 2nd Addition to the Town of Kent, according to the plat thereof recorded in Volume 15 of Plats, page 72 , in King County, Washington; thence running north 8800812511 east, along the south line of said Smith Street, a distance of 30 feet; thence south parallel to the west line of said Section 19, along the east line of Kennebeck Avenue, 230 feet to the TRUE POINT OF BEGINNING, which point is also the southwest corner of a tract conveyed to George A. Feroe, according to the deed thereof recorded in Volume 2537 of Deeds, page 218 , in King County, Washington; thence running south 10 feet; thence west 17 . 6 feet; thence south 120 feet, more or less, to a point 180 feet north of the north line of Meeker Avenue extended easterly; thence south 89030 ' east 120 . 1 feet to the west line of a tract conveyed to Hazel Hitchcock, according to the deed thereof recorded in Volume 2239 of Deeds, page 189 , in King County, Washington; thence north a distance of 97 feet, more or less, to the south line of the said tract conveyed to George A. Feroe, according to the deed thereof recorded in Volume 2537 of Deeds, page 218 thereof; thence running northwesterly along said south line of said Feroe Tract, which follows a curve to the left having a radius of 172 . 5 feet, a distance of 109 feet, more or less, to the TRUE POINT OF BEGINNING. Standard Coverage PACIFIC NORTHWEST TITLE INSURANCE COMPANY, INC. A.L.T.A. OWNER ' S POLICY SCHEDULE B Policy No. : 1093 -004467 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. : 1093-004467 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 : George Feroe PURPOSE : Ingress and egress AREA AFFECTED: The northerly 40 feet of said premises RECORDED: October 9 , 1946 RECORDING NUMBER: 3616360 Contains a covenant to bear equal share of the maintenance of said roadway. 2 . EASEMENT AND THE TERMS AND CONDITIONS REFERENCED THEREIN, INCLUDING, BUT NOT LIMITED TO, THE FOLLOWING: GRANTEE : George Feroe PURPOSE : Sewer pipe AREA AFFECTED: The northerly 12 feet of said premises RECORDED: October 9 , 1946 RECORDING NUMBER: 3616360 3 . EASEMENT AND THE TERMS AND CONDITIONS REFERENCED THEREIN, INCLUDING, BUT NOT LIMITED TO, THE FOLLOWING: GRANTEE : Hazel C. Hitchcock PURPOSE : Ingress and egress AREA AFFECTED: The northerly 40 feet of said premises RECORDED: July 2 , 1947 RECORDING NUMBER: 3701538 4 . EASEMENT AND THE TERMS AND CONDITIONS REFERENCED THEREIN, INCLUDING, BUT NOT LIMITED TO, THE FOLLOWING: GRANTEE : The City of Kent , a municipal corporation PURPOSE : Sewer AREA AFFECTED: As constructed over a portion of said premises RECORDED : July 6 , 1954 RECORDING NUMBER: 4461593 (continued) Policy No. : 1093-004467 SCHEDULE B Page 3 5 . EASEMENT AND THE TERMS AND CONDITIONS REFERENCED THEREIN, INCLUDING, BUT NOT LIMITED TO, THE FOLLOWING: GRANTEE : City of Kent , a municipal corporation PURPOSE : Sanitary sewers AREA AFFECTED: As constructed over a portion of said premises RECORDED : April 15 , 1975 RECORDING NUMBER: 7504150062 and 7504150064 6 . 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: As constructed over a portion of said premises DATED : June 12 , 1981 RECORDED: June 30 , 1981 RECORDING NUMBER: 8106301104 END OF SCHEDULE B XX/dkh/6484X --Joe SMITH STra,,,,. ,no �-•� a.r.� mow._ _ K' 1 iy. d do Alit 'n �. +.,. T •�_ ?•`g � y`�� � N �/ � '`/� a 4� too �i �� lii� rI �3 9 { 6 ell „y �EMEtERY Z-2i27 e.+,- 79 � � r► ` ?'jam •,,'' . C � ,w was At 10 STEWART TITLE COMPANY OF WASHINGTON, INC. NORTH �9 "A Tradition Order No. ��Q of Excellence" I-IPORTANT: 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 b%- reason of SOUTH reliance hereon.