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Home My WebLink AboutPK1990-0151 - Original - Karen Kruger Little - 219 South 1st Avenue - 03/07/1990 REAL ESTATE PURCHASE AND SALE AGREEMENT (Residential) (WITH EARNEST MONEY PROVISION) THIS IS A LEGALLY BINDi.vG CONTRACT,READ BOTH FRONT ANDND BACK(.-,Washington W FULLY shingto BEFORE 1NG March 7 19 90 City of Kent ,agrees to purchase The undersigned Purchaser 219 South lst Avenue Seller agrees to sell,on the following terms,the real estate commonly known es ll described rai ned S ton legally and theunde g g Kent King County,Washing g Y Street in the City of n f as(full and co m lets le al descri tion must be inserted prior to execution by parties.) The North 25 feet of the East 120 feet -- Lot E Bock �3 Yeslers First Addition to the town of Kent Volume 5 Pa ot King County, Washington. 1. PURCHASE PRICE.Thetatalpurchaseprii Forty-Five Thousand dollars and 00 100---------------------- price is ($ 45 000.00 ),payable as follows: All cash at closing. The City accepts property in its "as is" condition. SELLERS OFFER TO SELL, SHALL TERMINATE, IF NOT ACCEPTED BY OR BEFORE MARCH 21, 1990. 2. FINANCING.This offer ❑ is 0 is not, conditioned upon Purchaser obtaining a purchase loan. If it is, this agreement shall be null and void unless on or before ,19 Purchaser obtains Lender's approval for a O conventional ❑FHA ❑VA loan of not less then $ payable over not less than years.(IF FHA OR VA ARE CHECKED,THE FHAIVA PROVISIONS ON THE REVERSE SIDE HEREOF ARE PART OF THIS AGREEMENT.)Purchaser agrees to pay the credit report and appraisal charges. St., 3. CONTINGENCIES.This agreement is conditioned on:❑sale of Purchaser's present home at ❑other: on or before .19 ' 777� 4. CONDITION OF TITLE.Title to the property is to be free of all encumbrances or defects,except as noted in paragraph 8 below,and except fthe purchaser or: will assume the LID .Rights reserved in federal patents or state deeds: building or use restrictions general to the area,other than platting and subdivision requirements;utility easements;other easements not inconsistent with Purchaser's in- deemed encumbrances or defects.Encumbrances to be discharged by Seller shall be paid from the purchase tended use;and reserved oil and/or mineral rights;shell not been or condominium dues,charges or assessments. money at the date of closing,including any lienable associati k public sew main 0 eptic tank 0 None of the foregoing. 5. (IF WELL OR SEPTIC TANK ARE CHECKED,THE WELL OR SEPTIC TANK PROVISIONS ON THE REVERSE verSIDE HER ers ARE PART OF THIS AGREEMENT.) 6. LEASED FIXTURES AND CONSTRUCTION.THE FOLLOWING FIXTURES ARE LEASED:❑furnace ❑gas consion burner ❑hot water heater ❑ None .These leased fixtures are included in the sale and the SELLER AGREES TO ACQUIRE TITLE TO THE SAME PRIOR TO CLOSING.F.T.C.regulations require disclosure of the following: R-value thickness Wall insulation: type R-value thickness Ceiling insulation: type Other insulation: ❑Not yet selected but Seller shall furnish Purchaser with this information in writing promptly. 19 90 Notwithstanding the foregoing date,if paragraph 3 above 7. CLOSING OF SALE.This sale shall be closed on or before April 1 ("Contingencies")is applicable,and is met or waived prior to the foregoing date,then this sale shall be closed within 90 days after it is met or waived• or such other This sale shall be closed by a ill,immediately on demand,deposit with Closing Agent all instruments and monies required to complete Closing Agent as Purchaser shall designate.Purchaser and Seller w the purchase in accordance with this Agreement. 8. CLOSING COSTS&PRO-RATION.Seller and Purchaser shall each pay one-half of escrow fee unless this sale is VA financed,in which case Seller shell pay the same.Seller shall pay real estate excise tax and revenue stamps. closing.Purchaser greesyear, pay fore acceptable to the Purchaser,rents,ning oil in fuel tank provided that prior res too closing,Seller obtains aage reserves.and twr ttener and ostatem ther enttas to the es tquantity and price thereof from the supplier. 9. POSSESSION.Purchaser shall be entitled to possession on[Zclosing ❑ ."Closing"means the date on which all documents are recorded and the sale proceeds are available to Seller. 10.DEFAULT AND REFUND.If either party defaults(that is,failure to perform the acts required of him)in his contractual performance herein,the non-defaulting party may seek specific performance pursuant to the terms of this agreement,damages,or rescission.If the non-defaulting party seeking damages or rescission is the Purchaser,the earnest money,upon demand,shall be refunded less any charges required as initial loan fees attributable to Purchaser's financing.If the non-defaulting party seeking damages or rescission is the Seller,the earnest money,upon demand,shall be forfeited whereupon it shall be divided equally between seller and agent(if any,to be applied to payment of agent's fee)less all charges provided above.If financing is required,the parties agree to refund earnest money(less credit report tee,appraisal fee,end other loan charges,if any)in the event financing contemplated by the purchaser is not obtainable.In the event of litigation to enforce any of the terms or provisions herein,the prevail- ing party shall be awarded all reasonable costs and attorneys fees. 31•SPECIAL PROVISARE PART OF THIS AGREEMENT:INSPECTIONS INCLUDED ITEMS;TITLE INSURANCE;CONVEYANCING;GENERAL PROVISIONS;CASUALTNS.In addition o FHA/VA or CONTINGENCY Provisons,if called for above,THE FOLLOWING PROSIONS ON THE REVERSE S DY;UNDER- LYING FINANCING, 12.AGENCY DISCLOSURE.At the signing of this agreement,the selling agent (name of agent)represented (name of agent)represented (nameofparty);andthelistingagent O V larke o W::jfi -JLWeeler- represented- of party).Each party signingthis document con irmsthat,p 124D-040,prior oral and/or written disclosure of agency wasprovided... .. t. him.her in this transaction. •••.,•. ....................... .•••••••......... 8receipt p 1,000,00 in the form of❑cash ❑personal check 13.EARNEST MONEY RECEIPT.Undersigned acknowledges recei t from Purchaser of$ as earnest money in ❑cashier's check Er- Note to be converted to Ql partial payment of the purchase price. BY ............................... .A�G- .Z�14REEMENT TO PURCHASE—AND TIME LIMIT FOR ACCEPTANCE.Purchaser offers to purchase the property on the terms and conditions noted herein and acknowledges that he has read all terms and conditions above and on the reverse aide hereof.Seller shall have until midnight of to accept this offer by delivering a signed copy hereof to the Purchaser or Agent.If this offer is not so accepted,it shall lapse and the Seller or Agent shall refund the earnest money to the Purchaser. PURCHASER'S ADDRESS PURCHASER HOME OFFICE PURCHASER'S PHONE PURCHASER .........................................`$................. ...............................p..p P 15.SELLER'S ACCEPTANCE AND AGENT'S AGREEMENT.Seller agrees to sell the roe on the terms and conditions specified herein and further agrees o pay; commission of to the agent for services rendered.Seller acknowledges a receipt of a copy,1f�this agreement,signed by both parties,having read the terms and conditions above and on the reverse side hereof.Dated: BOX 702 Md le ValleV, WA SELLER N KRUGER LITTLE SELLER'S ADDRESS Ji HOME OFFICE �/'.f�'� SELLER'S PHONE SELLER '19 16.PURCHASER'S RECEIPT.Purchaser acknowledges receipt of a Seller signed copy of this agreement,on PURCHASER PURCHASER Real Estate Purchase&Sale Agreement(Residential) Washington Legal Blank,Inc.,Issaquah,WA Form No.462R 4/89 MATERIAL MAY NOT BE REPRODUCED IN WHOLE OR IN PART N ANY FORM WHATSOEVER. 4th AVE. I FLJ 1 o C 0 m n (n m m rn 3 rd AVE. 00, 2nd AVE. I CID I IL-j El ir-D C� o 1 st AVE. RAILROAD AVE. a �A