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Home My WebLink AboutLW10-183 - Original - Rainier Foreclosure Services, Inc. - Project Springboard: Trustee's Services - 06/18/2010 Records Martagement ,KENT V�P3MINGTON Document t x it�it.x ifto small CONTRACT COVER SHEET This is to be completed by the Contract Manager prior to submission to City Clerks Office. All portions are to be completed. If you have questions, please contact City Clerk's Office. Vendor Name: Th►fAk �WP�( *Akjgg �lKt Vendor Number: ]D Edwards Number Contract Number: LCJI a - 1193 This is assigned by City Clerk's Office Project Name: .' d�r!ir� o� Description: ❑ Interlocal Agreement ❑ Change Order ❑ Amendment Contract ❑ Other: Contract Effective Date: Uor _ Termination Date: �- Contract Renewal Notice (Days): Number of days required notice for termin tlon or renewal or amendment Contract Manager:T ?XUj/�KI,Bepartment: Lki Detail: (i.e. address, location, parcel number, tax id, etc.): S•Public\RecordsManagement\Forms\ContractCover\adcc7832 1 11/08 TRUSTEE'S SERVICES FEE AGREEMENT The services of Rainier Foreclosure Services, Inc., c/o Schweet Rieke & Linde, PLLC, (hereinafter sometimes referred to as "Rainier Foreclosure") are hereby retained by the undersigned Beneficiary in connection with acting as trustee under that certain deed of trust recorded under King County Auditor's File Number 20060110002605 Beneficiary understands and agrees to the following 1. Fee. Rainier Foreclosure c/o Schweet Rieke & Linde, PLLC, shall charge a flat fee of $10,000 00 in connection with performing services as trustee under the above referenced deed of trust Said fee shall be billed in two equal installments The first flat fee installment in the amount of $5,000 00 will billed in the first billing statement and the second flat fee shall be billed in the final billing statement sent after the completion or the discontinuance of a trustee's sale. In addition, in the event that a trustee's sale has to be re-set in accordance with the provisions of RCW 61.24 130, an additional flat fee of$2,500 00 will be charged in connection with each sale re-set 2. Costs. Beneficiary agrees that Rainier Foreclosure, c/o Schweet Rieke & Linde, PLLC, is authorized to incur reasonable and normal costs and expenses in performance of services as trustee under the Deed of Trust Such costs include, but are not limited to the trustee's sale guarantee premium, recording fees, posting charges, regular and certified mail costs, photocopying costs, computer research, travel,parking, and mileage 3. Periodic Statements. Periodic statements will be rendered to Beneficiary indicating fees and costs incurred to the date indicated A late payment charge will accrue on the unpaid account balance at the rate of 1.0% per month. Balances will be considered past due twenty days after date of billing. Payments received from Beneficiary shall be first applied to any late charges and then to costs and fees. 4. Retainer. Beneficiary may be asked to pay a retainer. If so asked, the funds will be placed in a Beneficiary trust account from which funds will be withdrawn as services are rendered and billed Rainier Foreclosure, c/o Schweet Rieke & Linde, PLLC, reserves the right to request an additional retainer amount if the circumstances warrant. The retainer is not a flat fee for services rendered. Any agreement to work on a flat fee basis must be contained in writing. 5. Withdrawal Beneficiary agrees that failure to comply with this Agreement, together with other factors contemplated by the Rules of Professional Conduct, will be grounds for Rainier Foreclosure c/o Schweet Rieke &Linde,PLLC,to resign as trustee under the Deed of Trust. 6. Termination. Both Beneficiary and Rainier Foreclosure, c/o Schweet Rieke & Linde, PLLC, shall have the right to terminate this engagement at any time with reasonable notice. In the event of termination,Rainier Foreclosure, c/o Schweet Rieke&Linde, PLLC, shall proceed to resign as Trustee in accordance with the provisions of this agreement and applicable law. On resignation, Beneficiary shall immediately pay in full all charges and costs previously incurred 7. Attorney's Fees and Costs. Beneficiary agrees to pay reasonable attorney's fees and the costs in the event such fees and costs are incurred by Rainier Foreclosure and/or Schweet Rieke & Linde, PLLC, in connection with this Agreement. Beneficiary consents and agrees to venue in the King County Superior Court AGREEMENT- 1 r AFTER RECORDING RETURN TO: Ramer Foreclosure Services,Inc c/o Schweet Rieke&Lmde,PLLC 575 S Michigan Street Seattle,WA 98108 RE: Springboard Holdings,L L.C. APPOINTMENT OF SUCCESSOR TRUSTEE Ramer Foreclosure Services Inc,a Washington Corporation,whose address is c/o Schweet Rieke& Linde, PLLC, 575 S Michigan Street, Seattle, WA 98108 vs appointed trustee under that certain Deed of Trust, Security Agreement Assignment of Leases and Rents and Fixture Filing, in which Springboard Holdings, L L C, is Grantor, and Washington Administrative Services, Inc, is the original Trustee, and the City of Kent,a Washington municipal corporation,is the original Beneficiary,dated December 15,2005, and recorded on January 10, 2006, under Auditor's/Recorder's File No 20060110002605, Records of King County,Washington, it to have all the powers of trustee,effective forthwith Dated June 4,2010 City of Kent (Benefic k +4-e oa el" (Print Name) /Vl (Title) STATE OF WASHINGTON ) )ss COUNTY OF KING ? ) On this j 0"6( day of �/L � 2010,before me,the undersigned,a Notary Publicinand `�for the State of Washington duly commissioned and sworn,personally appeared - 0"hc ea-& CC•, to me known to be the / L CL%DL° for the City of Kent, that executed the foregoing instrument and acknowledged the said instrument to be the free and voluntary act and deed of the City of Kent for the uses and purposes therein mentioned, and on oath stated that S7i z- is authorized to execute the said instrument on behalf of the City of Kent Witness my hand and official seal hereto affixed the day and year first above written -a ��i,�CG7 � P P �E'iG�S (PRINT NAME) Notary Public in and for the State of Washington Residmg at ( w1% My commission expires I/ /If' , 3W/cz REQUEST FOR MAYOR'S SIGNATURE KENT Please FIII In All Applicable Boxes WASHINGTON Routing Information (ALL REQUESTS MUST FIRST BE ROUTED THROUGH THE LAW DEPARTMENT) Originator -m Phone (Originator) S11 0- Date Sent Date Required �l? Return Signed Document to CONTRACT TERMINATION DATE: YL-JA- VENDOR NAME: DATE OF COUNCIL APPROVAL: rL A- (Sef�i LWW tKjP- . 0�;,6D6 Brief Explanation of Document s5tjk :Fck r All Contracts Must Be Routed Through the Law Department (This Aiea to be Completed By the Law Department) Received: W P-11( t) Approval of Law Dept : tvkk- f� Law Dept. Comments. Date Forwarded to Mayor: Shaded Areas to Be Completed by Administration Staff Received. Recommendations & Comments Disposition: i�-19"1° -U c< Date Returned: �- Iage5870 • 3/05