HomeMy WebLinkAboutCAG2001-0441 - Original - Bhatti - Sale of Austin Property 400 N Alvord - 11/21/2001 KENT
WA5HINOTON
Memo
To: Mayor White and City Council Members
CC: John Hodgson, Director Kent Parks, Recreation and Community Services, Lori
Flemm, Superintendent, Parks Planning and Development
From: ent Parks, Fund Development Coordinator
Date: bember'lt01
Re: Offer of Sale and Purchase. Austin Property, 400 No Alvord
We received a Purchase and Sale agreement for the Jean Austin property forwarded to
us by our realtor, J B. Ruth for Mr and Mrs Bhatti Mr and Mrs. Bhatti offered
$36,000 00 for the �roperty Staff reviewed this offer, and finds it satisfactory The
Council, on April 17i , 2001, authorized the sale of this property at a regularly scheduled
council meeting for the price of $45,000. The appraised value in 1997 is $50,000 At my
request, at the regularly scheduled council meeting on August 7, 2001, staff was
authorized to accept not less than $40,000 based on an offer from Michael Eisenman.
Based on his feasibility study, Mr. Eisenman elected to terminate the purchase of this
property and forfeited $1000 00 in earnest money to the City.
This property is located on an undeveloped portion of Spring Ave, No. of Smith. Public
Works requires the street (Spring Ave) be built to alley standards (twenty four feet wide)
across the 110-foot west face of the property, and then westerly to Alvord Preliminary
estimates of the cost of this improvement are over $22,000. We acquired this property as
a donation from Jean Austin in late 1997 We listed the property in January of 1998,
We have received several offers for this property, one as low as $40,000, some as high
as $50,000 All of them failed to close due to the street development costs Based on
this rational, we feel $36,000 is a very good offer, and ask that the council authorize the
mayor to accept this offer, and for him sign the necessary documents to close this
transaction with Mr. Eisenman Staff added a contingency requiring Council approval
ENC
Kent Parks and Recreation,Parks Planning and Development
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NWfALS Form 25 Wopyrlghl 2001
Vacant Land Purrhase R Sale Northwcsl Mulllple Ll Servlce
Revised 04/01 ALL RIGHTS RESERVED
Page I of 4 VACANT LAND REAL ESTATE PURCHASE. AND SALE AGREEMENT
SPECIFIC TERMS
1 Date Ohs)3 200 1 � ll No..; D,
2 Buyer-
3 Seller.
4 Property: Tax Parcel Nos ' County)
Street Address ( / Washinfgton -L�un^ty')
�/
Legal Description / o � 3 bil L/ Cj�r v1Lb' � �l��tTfO� �d eN+ W 110
to ill Boil o-F L6+ /3/1, Vol- /Y Il - So
5 Purchase Price. IoLUQD ` ill Sil
6 Earnest Money. (To be held by ❑ Selling Bro% Ing Agent)
Personal Check SQQ 00
Note
Other
7 Default (check only one) IX Forfeiture of Earnest Monel ❑ Seller's Election of Remedies
8 Title Insurance Company:
9 Closing Agent ❑ a qualified closing agent o1 Buyer's choice w'
to Closing Date, Obt ti ) &,, 50_z, _ ,
11 Possession Dale. X on Closing i❑_ Calendar days after Closing ❑
12 Offer Expiratlon Date:
13 Counteroffer Expiration pate' ---�^
14 Addenda, r-
15 Agency Disclosure Selling Licensee represents Guyer ❑Seller ❑both parties ❑neither party
Listing Agent represents [ ller ❑ both parties
16 Subdivision The Property ❑ Is subdlwdsd ❑ must be subdivided on or before
® is not legally required to be subdivided
17 F Ibdity Conlinge y Expiration D �e �15- days aller mule• a ci ptance
Y 11r 13-a - ai-vl
Date Sellers SI ere Dale
Buyers signidure E' Data Sellers signawe Data
��r:;, rzge � 1:f
Buyer's Ad�d/ress Sellers Address
t� C[ —
city Staid Zip City state,Zip
tea- ---
Phe Fax Phone Fax
a"af 5 Email Address s lens ad Address '
Seill Broker MLS Office No List Broker p�1 �•.�f{}---/ MLS Difine No
)eL
Selling Licansc (Print) Agom Iprin
6.fa�- - 99• �G alai1v�-a55-6o9a- z!�_, yj��-YYl7
phone Few Phone Fax
11/13/01 TUE 19. 59 [TX/RX NO 87891
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TO.42J4,5�44ir r-�•o
NWNILS Form 25 Uopynghi 2001
Vacant Land Purchase a S81e Northwest Multiple Listing Service
Revised 04101 ALL RIGHTS RESERVED
Page 2 of 4 VACANT LAND REAL ESTATE PURCHASE AND SALE AGREEMENT 1
GI=NERAL TERMS
(contrnued)
a. Purchase Price, Buyer agrees to pay to Seiler the Purchase Price, including the Earnest Money, in cash at Closing, 1
unless otherwise specified in this Agreement Buyer represents that Buyer has sulhcient funds to close this sale in 2
accordance with this Agreement and is not relying on any contingent source of funds or girls, except to the extent 3
otherwise specified In this Agreement 4
to. Earnest Money Buyer agrees to deliver the Earnest Money within 2 days after mutual acceptance of this Agreement, 5
Selling Licensee will deposit any check to be held by Selling Broker as Earnest Money within 3 days after receipt or 6
mutual acceptance, whichever occurs lalei It the Earnest Money is held by Selling Broker and Is over S10,000,00 it 7
shall be deposited into an Interest bearing lrust account in Selling Broker's name provided that Buyer completes an 8
IRS Form W-9 Interest, if any, after deduction of baik charges and fees, will be pad to Buyer Buyer agrees to 9
reimburse Selling Broker for bank charges and tees in excess o1 the Interest earned, if any. It the Earnest Money 10
held by Selling Broker is over$10,000 00 Buyer has the option to require Selling Broker to deposit the Earnest 11
Money into the Housing Trust Fund Account, with the interest paid to the State Treasurer, if both Seller and Buyer so 12
agree in writing If the Buyer does not corr,plate an iRS Form W-9 before Selling Broker must deposit the Earnest 13
Money or the Earnest Money is$10,000 00 or less, the Earnest Money shall be deposited into the Housing Trust 14
Fund Account Selling Broker may transfer the Earnest Money to Closing Agent Buyer agrees to pay financing and 15
purchase costs incurred by Buyer. If all of par, of the Earnest Money is fo be refunded to Buyer and any such costs 16
remain unpald, the Selling Broker or Closing Agent may deduct and pay them therefrom 17
c Condition of Title Buyer and Seller authorize Se,ling Licensee, Listing Agent or Closing Agent 10 insert, attach or 78
correct the Legal Description of the Property Unless otherwise specified In this Agreement, title to the Property shall 19
be marketable at Closing The following shall not cause the title to be unmarketable rights, reservations, covenants, 20
conditions and restrictions, presently of record and general to the area, easements and encroachments, not materially 21
affecting the value of or unduly interlenng with Buyer's reasonable use of the Property, and reserved oil and/or mining 22
rights Monetary encumbrances not assumed by e,ryer shall be paid by Seller an or before Closing Title shall be 23
conveyed by a Statutory Warranty Deed It this Agreement Is for conveyance of a buyer's Interest in a Real Estate 24
Contract, the Statutory Warranty Deed shall include a buyer's assignment of the contract sufficient to convey after 25
acquired title If the Property has been short patted,the Short Plat number Is in the Legal Description 26
d Title Insurance. Seller authorizes Buyer's lender or Closing Agent, at Seller 9 expense, to apply for a standard form 27
owner's policy of title Insurance,with homeowner's additional protection and inflation protection endorsements if avail- 28
able at no additional cost, from the Title Insurance Company The Title Insurance Company is to send a copy of the 29
preliminary commitment to both Listing Agent and Selling Licensee The preliminary commitment, and the title policy 30
to be issued, shall contain no exceptions other than the General Exclusions and Exceptions in sa d standard form and 31
Special Exceptions consistent with the Cundit,on of Title herein provided It title cannot be made so insurable prior to 32
the Closing Date,then as Buyer's sole and exclusive remedy, the Earnest Money shall, unless Buyer elects to waive 33
such detects or encumbrances, be refunded to the Buyer, less any unpaid costs described in this Agreement, and 34
this Agreement shall thereupon be terminated Buyer shall have no right to specific performance or damages as a 35
consequence of Seller's Inability to provide insurable title 36
e Closing. This sale shall be closed by the, Closing Agent on the Closing Date "Closing" means the date on which all 37
documents are recorded and the sale proceeds are available to Seller. It the Closing Date falls on a Saturday, Sun- 38
day, or legal holiday as defined in RCW 1 16 DSO,the Closing Agent shall close the transaction On the next day that is 39
not a Saturday, Sunday, or legal holiday 40
1 Possession. Buyer shall be entitled to possesslon at 9 00 p m on the Possession Date Seiler agrees to maintain the 41
Property in its present condition, normal wear and tear excepted,until the Buyer is entitled to possession 42
g closing Costs and Prorations. Seiler and Buyer shall each pay one-half of the escrow fee.Taxes for the current 43
year, rent, interest, and lienable homeowne"s association dues shall be prorated as of Closing. Buyer agrees to pay 44
Buyer's loan costs, including credit report, appraisal charge and lender's title insurance, unless provided otherwise in 45
this Agreement. If any payments a delinquent on encumbrances which will la Wain after Closing, Closing Agent is 46
instructed to pay mat Closin to inoney due, Otto be paid by, Seller. 47
Initials BUYER DATE "1 -o SELLE OATEX�!-15iAae
IF
BUYER; DATE /� — ( SELLER DATE - 49
11/13/01 T0E 1g,59 rTx/ny ton x70.ai
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JU-13-2001 07:57P FROM. r ' a (I004
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N%VMLS Form 25 ttcCopynyhi 2001
Vacant iantl Per.�na5a a Sala Nonhwest Multiple Listing Service
ReviScri 04101 ALL RIGHTS RESERVED
Page 3 of 4 VACANT LAND REAL ESTATE PURCHASE AND SALE AGREEMENT
GENERAL TERMS
(continued)
h Sale Information The Listing Agent or Selling Llcansee are authorized to report lhis Agreement(including price and 50
all te(ms) to the Multiple Listing Service that published it and to its members,financing institutions, appraisers, and 51
anyone else_ related to this sale Buyer and Seller authorize all lenders, Closing Agents, appraisers, title insurance 52
companies, and others related to this sale, to furnish the Listing Agent andlor Selling Licensee, on request, any and 53
ail �nlormabon and copies of documents concerning the status, progress and final disposition of financing, appraisal, 54
Closing, five condition, and any other matter concerning this sale, including Buyer's credit report 55
i FIRPTA - Tax Withholding at Closing The Closing Agent Is instructed to prepare a certification (NWMLS Form 22E 56
cr equivalent) that Seller is not a"foreign person"within the meaning of the Foreign Investment In Real Property Tax 57
Act Seiler agreas to sign this certification, It Seller is a foreign person, and this transaction is not otherwise exempt 58
from FIR�TA, Closing Agent Is instructed to withhold and pay the required amount to the Internal Revenue Service. 59
) Notices Unless otherwise specified In this Agreement, any notice required or permitted in, or related to, this Agree- 60
ment (Mc(_dfng revocations of offers or counteroffers) must be In writing Notices to Seller Must be signed by at least 61
one Buyer and shall be deemed given only when the notice is received by Seller, by Listing Agent er at the licensed 62
office of List ng Agent Notices to Buyer mutt be signed by at least one Seller and shall be deemed given only when 63
the notice is received by Buyer, by Selling Licensee or at the licensed office of Selling Licensee Receipt by Selling 64
f_icersee dr a Real Properly Transfer Disciasure Statement, Public Offering Statement and/or Resale Certificate shall 65
be deemed recefpl by Buyer Selling Licensee and Listing Agent have no responsibility to advise of receipt of a 66
notice beyond either phoning the party or Musing a copy of the notice to be delivered to the party's address shown 67
on this Agreement Buyer and Seller must keep Selling Licensee and Listing Agent advised of their whereabouts in 68
order to receive prompt notiffcallon of receipt of a notice 69
k computation of Time Unless otherwise speedled in this Agreement, any period of time stated in this Agreement shall 7o
start on ',he day following the event commencing the period and shall expire at 9 00 p m of the last calendar day of 71
the specfied period of time !f the last day is a Saturday, Sunday or legal holiday as defined in RCW 1 16 050, the 72
speahetl period of time shall expire on the next day that is not a Saturday, Sunday or legal holiday Any specified 73
period or 5 days or less shall not Include Saturdays. Sundays or legal holidays.Time is of the essence of this 74
Agreement 75
1 Facsimile or E-mail Transmission, Facsimile transmission of any signed original document, and retransmission of 76
an} signed facsimile transmission, shall be the same as delivery of an original At the request of either party,or the 77
Ciosmc Agen', the parties will confirm tacs.mile transmitted signatures by signing an original document E-mad trans- 76
mission of an/document or notice shall not be effective unless the parties to this Agreement otherwise agree In writing 19
m Integration This Agreement constitutes the entire understanding between the parties and supersedes ail prior or 80
contemporaneous understandings and representations No modification'of this Agreement shall be effective unless 81
agreea n writing and signed by Buyer and Seller 82
n Assignment Buyer may riot assign this Agreement, or Buyer's rights hereunder, without Seller's prior written consent, 83
unless provided otherwise herein 84
o Default In the event Buyer fails, without li3gal excuse,to complete the purchase of the Property,then the following 86
proyfs:on, as identified in Specific Term No 7, shall apply 86
I Forfeiture al Earnest Money That potion of the Earnest Money that does not exceed five percent (5%) of the 87
Purchase Price shall be forfeited to the Seller as the sole and exclusive remedy available t0 Seller for such failure, 68
it Seller's Election of Remedies. Setter may, at Seller's option, (a) keep the Earnest Money as liquidated damages 89
35 the sole and exclusive remedy available to Seller for such failure. (b) bring suit against Buyer for Seller's actual 90
damages, (c) bring suit to specifically enforce this Agreement and recover any incidental damages, or (d) pursue 91
any other rights or remedies available at law or equity 92
p. Attorneys Fees. Buyer or S er institutes stilt against the other concerning t A eement, the prevailing party is 93
entitled to reaso a e attorney ees d expenses, 94
IniN31s BUY=R. DATE SELLER. DATE, J1 / 95
3UYER DATE If�1 SELLER: — DATE, 96
11/13/01 TUF. 19,56 rTx/ii win A7A01
11/10/01 THU 17 45 FAX 4254324417 RE1I�X PERFORMiliNCE PLUS i1
;OU-13-2001 07:56P FROM: TD:p2 iatoo5
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I
NWMLS Form 25 1 apopynght 2001
Vacant Land PurChase 8, Sale Northwest Moltiole Listing ServiCe
Revised(14101 ALL RIGHTS RESERVED
Page 4 of 4 VACANT LAND REAL ESTATE PURCHASE AND SALE AGREEMENT
GENERAL TERMS
(continued)
I
e offer. Buyer agrees to purchase the Propety under the terms and conditions of this Agreement Selzer s*,all have 97
until 9 00 p m on the Offer Expiration Dale to accept this offer, unless sooner withdrawn Acceptance shall not be 9a
effective until a signed copy is actually received by Buyer, by Selling Licensee or at the licensed otfrce of Selling 99
Licensee If this offer is not so accepted, it shall lapse and any Earnest Money shall be refunded to Buyer 100
I
r, Counteroffer Seller agrees to sell the Property under the terms and conditions of this Agreement ;II Seiler makes a 10!
counteroffer, Buyer shall have until 9 00 p m, on the Counteroffer Expiration Dale to accept the ceurteroller, unless 102
sooner withdrawn Acceptance shall not'be effective until a signed copy is actually received by Seiler, by Listing 103
Agent or at the licensed office of Listing Agent If the Counteroffer is not so accepted, it snall lapse and any Earnest 104
Money shall be refunded to Buyer. It no uaplralion date to specified for a future counteroffer, the ccunteroffer shall 105
explre at 9,00 p m on the second day after the counteroffer Is signed by the last party making tie coun'aroffer, 106
unless scone(withdrawn T07
s, Agency Disclosure Selling Broker represents the same party that Selling Licensee represents Listing Broker repre- 10B
sents the same party that the Listing Agent represents If Selling Licensee and Listing Agent are dd'arerl ealesper- 109
sons aihliated with the same Broker, then both Buyer and Seller confirm their consent to that Broke, representing 110
both parties as a dual agent if Selling Licensee and Listing Agent are the same salesperson representing both Ill
parties then both Buyer and Seller confirm their consent to that salesperson and his/her B-oker recresacnng both 112
parties as dual agents. All parties ecknoNledge receipt of the pamphlet entitled"The Law of Peal Estate Agency" 113
1 Commission Seller and Buyer agree ut pay a commission in accordance with any listng or commission agreement 114
to which they are a party The Listing Broker's commission shall be apportioned between Listing Broker and Selling 115
Broker as specified in the listing Seller and Buyer hereby consent to Listing Broker or Se-ling 8,c<er receiving 116
compensation from more than one party Seller and Buyer hereby assign to Listing Broker and Selling Broker, as 117
applicable, a portion of their funds in escrow equal to such commission(s) and irrevocab,y instruct the Closing l i s
Agent to disburse the commission(s) directly to the Broker(s). In any action by Listing a• Selling •oker to enforce 119
this paragraph, the prevailing party is entitled to court costs and reasonable attorneys' lees 120
u, Feasibility Contingency, It is the Buyer's responsibility to verily before the Feastbi',ty Contingency Expiration Dale 121
identified in Specific Term No 17 whether or not the Property can be platted, developed andfor bolt on (now or in 122
the future)and what it will cost to do this BUYER SHOULD NOT RELY ON ANY ORAL STATEMENTS concerning 123
this made by the Seller, Listing Agent or Selling Licensee Buyer should inquire at the city or county, and water, 124
sewer or other special districts in which the Property is located Buyer's inquiry should it cfuda, bait not be limited to 125
building or development moratoriums applicable to or being considered for the Property, any special building 126
requirements, including setbacks, height limits or restrictions on where buildings may be COnelrLCled on the 127
Property,whether the Property is affected by a flood zone,wetlands, shorelands or other environmentally sensitive 128
area; road, school, fire and any other (;lrowth mitigation or impact fees that must be pates the procedure and length of 129
time necessary to obtain plat approval ancilor a building permit, sufficient water, sewer aid witty and any service 130
connection charges; and all other charges that must be paid 131
If the Buyer does not give notice to the contrary on or before the Feasibility Contingency Expiration Date identified 132
in Specific Term No 17, it shall be conclusively doomed that Buyer is satisfied as 10 development and/or construc- 133
tion feasibility and cost If Buyer gives notice, this Agreement shaft terminate and the Earnest Money shall be 134
refunded to Buyer, less any unpaid costs 135
Y. Subdivision_ If the Property must be subdivided, Seller represents that there has been orelirr iary plat approval for 136
the Property and this Agreement is conditioned on the recording of the final plat containing the Property on or before 137
the date specified in Specific T rm 16, i1 the final plat is not recorded by suc data, tl s Agreement shall terminate 138
and the Earnest ney shall refunded to Buyer 139
Initials BUYER; DATE `Q SELLER 0ATF-k/1-A✓-501141)
BUYER. 'DATE."(SELLER DATE 141
I1/11/01 Tiff 19- tA r^YrOY Vol vanes
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,Ipu-14-2001 12.33-^ FROM, Iu:tidS4,:)ctitiir r
NVIMLS Korm 22A eq00CoPYr�9ht 2001
Financing/0 ACdendum Northwest Multiple Listing Serv,ce
Rev a/e1 ALL RIGHTS RESERVED
Page i of FINANCING ADDENDUM
PURCHASE & SALE AGREEMENT
The follow,ng s part of the Purchase and Sat,! Agreement dated . 200 f 1
be'ween ("Seller") 2
and
("Buyer") 3
concerning Ljyy ("the Property,,) 4
1 DOWN PAYMENTILOAN APPLICATION. This Aggreeme t is Contingent on Buyer obtaining aXConyentional F]VA 5
Ej FHA purchase loan Buyer agrees to pay_ 5 0 down, 6
and t..- make wr ter application and pay the application fee,if required, for the subject Property G within 7
days (5 days f not filled In) after mutual acceptance of this Agreement, or Q if this Agreement is conditioned on the B
sale of Buyer's property, within days (5 days if not filled in) alter Buyer satisfies or removes g
contingency, for a loan to pay the balen;a of the purchase price If Buyer (ails to make application for financing t0
with ri the agreed time, then this financing contingency shall be deemed warved 1
2 FINANCING DEADLINEISELLER TERMINATION NOTICE. 11 Buyer has not within days 12
(30 days if not filled in) after making application for a loan, given notice that Buyer has waived this financing contin- 13
gercy then Seller may, at any time [hereafter, elect to terminate this Agreement by giving 5 days notice If, within 5 14
days of Seller s notice. Buyer does not waive this financing contingency by notice, this Agreement shall terminate, 15
3 EARNEST MONEY If Buyer has not waived this financing contingency, and is unable to obtain financing after a 16
goad fait` effort then, on Buyer's notice, this Agreement shall terminate and the Earnest Money shall be refunded 17
to Buyer, 18
4 1NSPECTION/REPAIRS. Seller agrees to permit inspections required by Buyer's lender, including but not limited to 19
structural, pest, heating, plumbing, roof, electrical, septic and well inspections Seller is not obligated to pay tar 20
such mspechcns except as otherwise agreed 21
5 APPRAISAL LESS THAN SALE PRICE, If Buyer's lender's appraisal of the value of the Property is less than the 22
Purchase Price, Buyer may, within 3 days alter receipt of a copy of (e6der's appraisal,give notice of Buyer's 23
elect en to terminate this Agreement unless Seller,within 10 days after receipt of such notice, delivers to Buyer 24
either 25
(a) (i) It this Agreement is contingent on FHA financing, a reappraisal by the same appraiser, at Seller's 26
expense, in an amount not less than the Purchase Price or(it)if this Agreement is contingent on non-FHA 27
financing, reappraisal, at Seller's expense,by the same appraiser or another appraiser acceptable to the 2B
eneng irsttution in an amount not less than the Purchase Price,or 29
(b) Written consent to reduce the selling price to an amount not more than the amount specified in the appraisal 30
or reappraisal, whichever is highsi. (Not applicable it this Agreement Is conditioned art FHA financing FHA 31
does not permit the Buyer to be obligated to buy it the Seller reduces the Purchase Price to the appraisal 32
value The Buyer, however, has the option to buy at the reduced price ) 33
If such reappraisal or consent to reduction of Purchase Price is not so delivered, this Agreement shall terminate 34
and the Earnest Money shall be refunded to Buyer To permit the parties the foregoing limes for notices the Closing 35
Date shall be extended accordingly 36
Initials BVER. DATE SELLER DATE - -Z/'0/37
BUYEFirr DATE SELLER' DATE. 38
1)/14/01 WE0 10:37 ITX/RX NO 87931
11 au ul 1HU 17 46 FAX 4264324417 REMAX PERFORI
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T0.42543d4vir r,�,b
NWMLSFarm No 42 ®Copyright 1997
Agency Disclosure NorthWeSl Multiple Listing Semce
Rev V97 ALL RIGHTS RESERVED i
Page 1 011
AGENCY D)SCLOSURE
Washington State law requires real estate licensees to disclose to all parties to whom the licensee 1
renders real estate brokerage services whether the Licensee represents the Seller (or Lessor), the 2
Buyer (or Lessee), both the Seller/Lessor and Buyer/Lessee, or neither, I
YOU ARE ADVISED THAT THE UNDERSIGNED IS THE AGENT OF THE BUYER/LESSEE (strike <
one), UNLESS OTHERWISE STATED HERE 5
THE UNDERSIGNED REPRESENTS- 6
THE UNDERSIGNED BUYER/LESSEE OR SELLER/LESSOR ACKNOWLEDGES RECEIPT 7
OF A COPY OF THE PAMPHLET ENTITLED "THE LAW OF REAL ESTATE AGENCY" a
BUYER/LESSEE DATE
(signaturel e
BUYER/LESSEE ----` )CI ,r DATE ,��—� - b I
is g�T 10
SELLER/LESSOR .. DATE /y //-c�/- O/ 11
( i at re)
SELLER/LESSOR DATE ,p
(Signature)
LICENSEE La Al n 13
Pnntffype)
LICENSEE'S SIGNATURE 14
COMPANY NAME AS LICENSED �_L 1'
(PrinVrype)
11/13/01 Ti1P 10. 50 rTY/DY Nn vocal ,
ADDENDUM "A"
Purchase and Sale Agreement of 11/13/01 between Mahmood E Bhatti "Buyer '
and the City of Kent "Seller'.
1. This agreement is contingent upon acceptance of its terms by the Kent
City Council.
2. The statutory warranty deed transferring title shall not include a warranty
against claims of adverse possession or prescriptive easement, although
the seller knows of no such claims.
Buyer Date
Seller Date