HomeMy WebLinkAboutPW11-057 - Original - Knudsen Properties LLC - Purchase of Property at 7831 S 259th St - 12/17/2010 REAL ESTATE PURCHASE AND SALE AGREEMENT
WITH EARNEST MONEY PROVISION
This Agreement is entered between the CITY OF KENT, a Washington municipal
corporation, ("Buyer") whose mailing address is 220 4 h Avenue South, Kent, Washington
98032-5895, authorized by the Kent City Council on December 8, 2009, and Knudsen
Properties Limited Liability Company a Washington limited liability company, ("Seller")
whose mailing address is 7831 S 259th St., Kent, WA 98052, for the sale and purchase of real
property as follows:
1. PROPERTY. The Property, which Buyer, under threat of condemnation, agrees
to buy and Seller agrees to sell, is known as King County Tax Parcel Number 0006600030,
located at 7831 S 259th St., Kent, WA 98052 (the "Property"). The Property is legally
described in Exhibit"A", attached hereto and incorporated herein by this reference.
2. EARNEST MONEY. Within ten working(10) days of mutual acceptance of this
Agreement, Buyer shall deposit with Pacific Northwest Title & Escrow Company, 116
Washington Avenue N, Kent, Washington 98032 (the "Escrow Agent"), the sum of Eighty Nine
Thousand Dollars and NO/100ths ($89,000.00) in the form of a Certified Check, as refundable
earnest money to be applied toward the purchase price of the Property payable at Closing. ,
3. PURCHASE PRICE. The total purchase price for the Property is Nine
Hundred and Twenty Five Thousand Dollars and NO/100ths ($925,000.00), including
earnest money,payable on closing.
4. CONTINGENCIES. This agreement is contingent upon:
A feasibility Study as follows:
1. Buyer shall have sixty (60) days from the date of mutual acceptance of
this Agreement to determine, in Buyer's sole and absolute discretion, if
the Real Property is feasible for purposes and uses intended.
Real Estate Purchase and Sale Agreement Page 1 of 8
2. Buyer's feasibility study may include (but is not limited to) a Phase I
and/or Phase 11 environmental assessment, to determine if the Real
Property is feasible for purposes and uses intended.
3. A Phase I environmental assessment generally will consist of a review of
title of ownership and land use, review of geologic and hydrologic maps
of the area, review of federal and state databases for known hazardous
water generators of contaminated sites and a site visit. If the Phase I
review reveals the potential of a contaminated site, a Phase H
environmental assessment may be conducted which generally will consist
of on-site sampling, including the digging or boring of test holes for soil
samples. BY EXECUTING THIS AGREEMENT, SELLER HEREBY
AUTHORIZES BUYER A RIGHT OF ENTRY ON TO THE
PROPERTY FOR THE PURPOSE OF CONDUCTING THIS
FEASIBILITY STUDY INCLUDING A PHASE I, AND IF
NECESSARY, A PHASE II ENVIRONMENTAL ASSESSMENT.
SELLER WILL BE NOTIFIED IF A PHASE 11 ENVIRONMENTAL
ASSESSMENT IS TO BE CONDUCTED.
4. Buyer agrees to conduct its feasibility study at its sole cost and expense;
and if Buyer does not remove the feasibility period, then Buyer also
agrees, if requested by Seller, to deliver to Seller copies of all information
and documentation obtained by Buyer in connection with its feasibility
study.
5. If Buyer fails to notify Seller of its approval of the Real Property, in
writing, on or before the expiration of the feasibility period, then this
Agreement shall be terminated, and neither Buyer nor Sell shall have any
further rights, duties or obligations hereunder, except that the Earnest
Money in Escrow shall be immediately returned to Buyer. Buyer agrees
to return the Real Property to its original state (i.e., fill all boring holes,
etc.).
Real Estate Purchase and Sale Agreement Page 2 of 8
Should any of the contingencies not be met prior to closing, then this Agreement shall terminate
and neither Buyer not Seller shall have any further rights, duties or obligations hereunder, except
that the Earnest Money in Escrow shall be immediately returned to Buyer.
5. CONVEYANCE AND CONDITION OF TITLE. The title to the real property
shall be conveyed by Seller to Buyer at closing by Statutory Warranty Deed, free and clear of all
liens, encumbrances or defects except those described in Paragraph One (1), Two (2), Three (3)
and Four (4) of Title Report Number 686688, described in Exhibit "B", attached hereto and
incorporated herein by this reference. All other paragraphs therein are to be removed on or
before closing.
6. TITLE INSURANCE. At Closing, Buyer shall cause Pacific Northwest Title &
Escrow Company, 116 Washington Avenue N, Kent, Washington 98032, to issue standard
coverage owner's policy of title insurance to Buyer in an amount equal to the total purchase
price of the Property. For purposes of this Agreement, 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 and utility and road easements of record. 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 terminate and the Earnest Money
shall be returned to Buyer.
7. CLOSING COSTS AND PRO-RATIONS. The escrow fee, and Excise Tax, if
applicable, shall be borne by Buyer, except for those fees which are expressly limited by
Federal Regulation. Buyer shall pay all recording costs, title insurance premium, the costs of
any survey, and the fees and expenses of its consultants. Taxes for the current year, rents,
interest, water, sewer and other utility charges, if any, shall be prorated as of the day of Closing,
unless otherwise agreed.
& CLOSING OF THE SALE. WITH THE UNDERSTANDING THAT TIME IS
OF THE ESSENCE FOR THIS AGREEMENT,this sale shall be closed within ninety(90) days
of the date of final execution of this Agreement, which shall also be the termination date of this
Real Estate Purchase and Sale Agreement Page 3 of 8
Agreement, unless said closing date is extended in writing by mutual agreement of the parties.
When notified, the Buyer and Seller will deposit, without delay, in escrow with Pacific
Northwest Title & Escrow Company, 116 Washington Avenue N, Kent, Washington 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.
9. CASUALTY LOSS. If prior to closing, improvements on the Property shall be
destroyed or materially damaged by fire or other casualty, this agreement, at option of the
Buyer, shall become null and void.
10. POSSESSION. Buyer shall be entitled to possession on closing.
11. PROTECTIVE RENT. Buyer shall pay Protective Rents to Seller until Closing.
Protective Rents are payments made by Buyer to Seller if a Tenant under a current, valid lease
vacates the Property and discontinues paying rent after mutual acceptance and prior to Closing.
Said rent shall be equal to rental rates obligated in current valid leases. All leases for the
Property and current contact information for all tenants shall be provided in their entirety by
Seller to Buyer before any Protective Rent will be paid. As a condition of payment of
Protective Rent, Seller shall not re-rent any subject sites as they become vacant.
12. SELLER'S REPRESENTATIONS. Seller represents:
(a) that s/he will maintain the property in present or better condition until time of
agreed possession;
(b) that s/he has no knowledge of notice from any governmental agency of any
violation of laws relating to the subject property :
(c) that the properties leased herein are leased on a month-to-month lease and Seller
will provide copies of each and every lease to Buyer within one working day upon
request.
Real Estate Purchase and Sale Agreement Page 4 of 8
13. SELLERS ENVIRONMENTAL REPRESENTATIONS. Seller represents
that to the best of his/her knowledge that s/he is not aware of existence of, or has caused or
allowed to be caused, any environment condition (including, without limitation, a spill, discharge
or contamination) that existed as of and/or prior to the closing date or any act of omission
occurring prior to the closing date, the result of which may require remedial action pursuant to
any federal, state or local law or may be the basis for the assertion of any third parry claims,
including claims of governmental entities. This provision 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.
14. 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 limtation, 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.
15. DEFAULT AND ATTORNEY'S FEES.
(a) Buyer's Default. If Buyer defaults hereunder, Seller's sole remedy shall be
limited to damages against Buyer in the liquidated amount of the earnest money
previously paid by the Buyer. Buyer and Seller intend that said amount
constitutes liquidated damages and so as to avoid other costs and expenses to
either party in connection with potential litigation on account of Buyer's default.
Buyer and Seller believe said amount to be a fair estimate of actual damages.
Real Estate Purchase and Sale Agreement Page 5 of 8
(b) Seller's Default. If Seller defaults hereunder, Buyer shall have all the rights and
remedies available at law or in equity.
(c) Attorney's Fees and Costs. 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 fee.
16. NOTICE TO SELLER. This form contains provisions for an agreement for the
purchase and sale of 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.
17. NON-MERGER. The terms, conditions, and provisions of this Agreement shall
not be deemed merged into the deed, and shall survive the Closing and continue in full force and
effect.
18. NOTICES. All notices required or permitted to be given hereunder shall be in
writing and shall be sent U.S. certified mail, return receipt requested, or by facsimile
transmission addressed as set forth below:
(a) All notices to be given to Buyer shall be addressed as follows:
Mark Madfai
City of Kent
220 Fourth Avenue South
Kent, WA 98032
(b) All notices to be given to Seller shall be addressed as follows:
Real Estate Purchase and Sale Agreement Page 6 of 8
Knudsen Properties Limited Liability Company,
a Washington limited liability company
c/o Ralph and Mary Knudsen
7831 S 259th St.
Kent, WA 98052
(c) All notices to be given to Escrow Agent shall be addressed as follows:
Cherie Santini
Pacific Northwest Title&Escrow
116 Washington Avenue North
Kent, WA 98032
Either party hereto may, by written notice to the other, designate such other address for the
giving of notices as being necessary. All notices shall be deemed given on the day such notice is
personally served, or on the date of the facsimile transmission, or on the third day following the
day such notice is mailed in accordance with this paragraph.
19. ENTIRE AGREEMENT. This Agreement, including all incorporated exhibits,
constitutes the full understanding between Seller and Buyer. There have been no verbal or other
agreements that modify this Agreement.
20. BINDING EFFECT AND SURVIVAL. This Agreement shall be binding upon
parties hereto and their respective heirs, successors and assigns; and the terms, conditions and
provisions of this Agreement shall survive the Closing of this transaction.
21. DATE OF MUTUAL ACCEPTANCE. For the purposes of this Agreement, the
date of mutual acceptance of this Agreement shall be the last date on which the parties to this
Agreement have executed this Agreement as indicated below.
22. EXPIRATION OF OFFER. Seller shall have only until 5:00 pm on the
to accept the purchase and sale agreement as
Real Estate Purchase and Sale Agreement Page 7 of 8
written, by delivering a signed copy thereof to the Buyer or Buyer's agent. If Seller does not so
deliver a signed copy within said period, this Agreement shall lapse and all right of the parties
hereunder shall terminate.
IN WITNESS WHEREOF,the parties hereto have executed this Agreement on the date
set forth below.
BUYER:
CITY OF KENT
By:
ett Co
Its: Ma r
Dated: /�t l7 /
SELLER:
Knudsen Properties Limited Liability Company, a Washington limited liability company
By:
Ralph udsen
Its: �1
Dated-
SELLER:
Knudsen Properties Limited Liability Company, a Washington limited liability company
j
By:
Mary sen
Its:
Dated:
P\Cml\Fi1mk0pen Files\1567-Hornhm Bend Levee Prchm&Sale AgreemmtsVCudx PmchawSekA&etmem 12 14 10 daac
Real Estate Purchase and Sale Agreement Page 8 of 8
Exhibit A
No_ 6B66BB
That portion of Samuel W_ Russell Donation Claim Number 41 in the
northwest quarter of the northeast quarter of Section 25, Township
22 North, Range 4 East, W_M. , in icing County, Washington, described
as follows:
Beginning at the intersection of the west margin of a County Road
(Both Avenue South) which runs along the west side of the Northern
Pacific Railroad with the south margin of another County Road
running east and west (South 259' Street) , said point of
intersection being 379 5 feet, more or less, north of the south line
of the Russell Donation Claim, as shown in the plat of Horseshoe
Acre Tracts to Kent, according to the plat thereof recorded in
volume 15 of Plats, page 10, in King County, Washington;
thence south along the west margin of said County Road to the south
line of the Donation Claim;
thence west along said south line to the bank of White River, now
called Green River;
thence north 210 west 336.6 feet;
thence north along a line, which would, if extended, run through a
point 1,37D.16 feet south and 1, 9B0 feet east of the northwest
corner of the Russell Donation Claim to the south margin of the
County Road ( South 259tn Street) being west of the beginning;
thence east along said road margin to the beginning;
EXCEPT that portion conveyed to King County by deed recorded under
Recording Number 9301111332.
EXHIBIT �
Exhibit B
�I
i
PACIFIC NORTHWEST TITLE COMPANY
OF WASHINGTON, INC.
215 Columbia Streec
Seattle, Washington 98104-IS11
Title Officer, Curtis Goodman (curtisgoodman@pnwt.com)
Assistant Title Officer, Rob Chelton(robchelton@pnwt.com)
Unit No. 12
FAX No. (206)343-133D
Telephone Number (206) 343-1327
City of Kent Public Works
Engineering Department
220 4th Avenue South Title Order No. : 6866BB
Kent, WA 98032
Attention: Diana Mooney
Your Ref. : Green River Levee/Horseshoe Bend/
APN- 00066D-0030
A. L. T. A. COMMITMENT
SCHEDULE A
Effective Date: January 23, 2009, at 8:00 a.m.
1. Policy(ies) to be issued-
As on Schedule A, page 2, attached.
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:
KNUDSEN PROPERTIES LIMITED LIABILITY COMPANY, a Washington limited
liability company
(NOTE. SEE SPECIAL EXCEPTION NUMBER 11 REGARDING EXECUTION OF THE
FORTHCOMING DOCUMENT(S) TO BE INSURED)
4. The land referred to in this commitment is situated in the State of
Washington, and described as follows-
As on Schedule A, page 3, attached.
EXHIBIT
Order No. 686688
A.L.T.A COMMITMENT
SCHEDULE A
Page 2
Policy(ies) to he issued:
A. ALTA Form 2006
Owner's Policy Amount TO BE AGREED UPON
Standard (X) Extended ( ) Premium
Tax (9.0%)
Proposed Insured:
CITY OF KENT, a municipal corporation
NOTE: IF EXTENDED COVERAGE FOR OWNERS OR LENDERS WILL BE
REQUIRED FOR A PENDING TRANSACTION, PLEASE NOTIFY US AT LEAST ONE
WEEK PRIOR TO CLOSING SO THAT WE MAY INSPECT THE PREMISES
B. WORK CHARGE Amount $ 450.00
Tax (9 0%) $ 40 50
(Schedule A, continued)
I
I
E3iiH OIT
I
Order No. 6B66BB
A.L.T.A. COMMITMENT
SCHEDULE A
Page 3
The land referred to in this commitment is situated in the State of
Washington, and described as follows
That portion of Samuel W. Russell Donation Claim Number 41 in the
northwest quarter of the northeast quarter of Section 25, Township
22 North, Range 4 East, W.M. , in King County, Washington, described
as follows-
Beginning at the intersection of the west margin of a County Road
(80tb Avenue South) which runs along the west side of the Northern
Pacific Railroad with the south margin of another County Road
running east and west (South 259th Street) , said point of
intersection being 379 5 feet, more or less, north of the south line
of the Russell Donation Claim, as shown in the plat of Horseshoe
Acre Tracts to Kent, according to the plat thereof recorded in
Volume 15 of Plats, page 10, in King County, Washington;
thence south along the west margin of said County Road to the south
line of the Donation Claim;
thence west along said south line to the bank of White River, now
called Green River;
thence north 210 west 336.E feet;
thence north along a line, which would, if extended, run through a
point 1,370.16 feet south and 1, 9B0 feet east of the northwest
corner of the Russell Donation Claim to the south margin of the
County Road ( South 259th Street) being west of the beginning;
thence east along said road margin to the beginning;
EXCEPT that portion conveyed to King County by deed recorded under
' Recording Number 9301111332.
I
iEND OF SCHEDULE A
NOTE FOR INFORMATIONAL PURPOSES ONLY:
The following may be used as an abbreviated legal description on the
documents to be recorded, per amended RCW 65 04 Said abbreviated
legal description is not a substitute for a complete legal description
within the body of the document.
NW/NE 25-22-04
PACIFIC NORTHWEST TITLE COMPANY OF WASHINGTON, INC
A.L.T.A COMMITMENT
Schedule B Order No. 6866BB
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 zo 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.
B 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. 686688
A.L.T.A. COMMITMENT
SCHEDULE B
Page 2
SPECIAL EXCEPTIONS:
1 AN EASEMENT AFFECTING THE PORTION OF SAID PREMISES AND FOR THE
PURPOSES STATED THEREIN, INCLUDING, BUT NOT LIMITED TO, THE
FOLLOWING:
IN FAVOR OF: Sarah E. Baker, Karry Eugene Burke,
William Edmund Burke, Charles Victor
Burke and Mabel Claire Burke
PURPOSE: Water pipeline
AREA AFFECTED:
The description contained therein is not sufficient to determine its
exact location within the property herein described.
DISCLOSED BY INSTRUMENT
RECORDED. November 24, 1908
RECORDING NUMBER: 582189
2 EASEMENT AND THE TERMS AND CONDITIONS REFERENCED THEREIN, INCLUDING,
BUT NOT LIMITED TO, THE FOLLOWING:
GRANTEE: County of King
PURPOSE: To construct and maintain a rip-rap
bank protection and remove debris
AREA AFFECTED: Along the bank of Green River
RECORDED March 7, 1962
RECORDING NUMBER: 5395755
3. EASEMENT AND THE TERMS AND CONDITIONS REFERENCED THEREIN, INCLUDING,
BUT NOT LIMITED TO, THE FOLLOWING:
GRANTEE: City of Kent
PURPOSE- Laying, maintaining, operating,
relaying, and repairing a water pipe
line
AREA AFFECTED:
The description contained therein is not sufficient to determine its
exact location within the property herein described.
RECORDED- April 27, 1973
RECORDING NUMBER- 7304270108
(continued)
i
Order No. 6B6688
A.L.T.A. COMMITMENT
SCHEDULE B
Page 3
4. EASEMENT AND THE TERMS AND CONDITIONS THEREOF, INCLUDING, BUT NOT
LIMITED TO, THE FOLLOWING:
IN FAVOR OF: AT&T Corp. and AT&T Communications
East, Inc.
CONDEMNED IN
UNITED STATES DISTRICT COURT
CAUSE NUMBER: 1:99-CV-9313
PURPOSE: Right to operate, maintain, upgrade
and expand its existing cable, as
well as to install new conduits and
fiber or replacement technology
AREA AFFECTED: Undisclosed portion of said premises
and other property
A copy of said judgment was recorded under Recording Number
200B0519000521.
5. GENERAL AND SPECIAL TAKES AND CHARGES: FIRST HALF DELINQUENT MAY 1,
IF UNPAID: SECOND HALF DELINQUENT NOVEMBER 1, IF UNPAID:
YEAR: 2009
TAX ACCOUNT NUMBER: 000660-0030-05
LEVY CODE: 1520
CURRENT ASSESSED VALUE: Land: $372,800.00
Improvements: $177,300.00
AMOUNT BILLED
GENERAL TAXES: $5,935 23
SPECIAL DISTRICT: $137.7B
$2.40
$9 99
TOTAL BILLED: $6, 085.40 PAID: $0.00 TOTAL DUE: $6,085.40
6. DEED OF TRUST AND THE TERMS AND CONDITIONS THEREOF
GRANTOR: Knudsen Properties Limited Liability
Company, a Washington limited
liability company
TRUSTEE: UPF Incorporated, a Washington
corporation
BENEFICIARY• Sterling Savings Bank
(continued)
ENIH 31)9T g
Order No. 68668B
A.L.T.A. COMMITMENT
SCHEDULE B
Page 4
AMOUNT: $409,123.90
DATED. May 2, 2007
RECORDED: May 7, 2007
RECORDING NUMBER* 2007DS07000S92
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. ASSIGNMENT OF RENTS AND THE TERMS AND CONDITIONS THEREOF:
ASSIGNOR: Knudsen Properties Limited Liability
Company, a Washington limited
liability company
ASSIGNEE: Sterling Savings Bank
RECORDED: May 7, 2007
RECORDING NUMBER: 20070507D00593
B. DEED OF TRUST AND THE TERMS AND CONDITIONS THEREOF:
GRANTOR: Knudsen Properties Limited Liability
Company, a Washington limited
liability company
TRUSTEE: UPF Incorporated, a Washington
corporation
BENEFICIARY: Sterling Savings Bank
AMOUNT $6D,000.00
DATED: May 2, 2007
RECORDED: May 7, 2007
RECORDING NUMBER: 20070507000594
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.
9. Unrecorded leaseholds, if any; rights of vendors and holders of
security interests on personal property installed upon said property
and rights of tenants to remove trade fixtures at the expiration of
the term
(continued)
Ed1HOT B
Order No. GBGG8B
A.L.T A. COMMITMENT
SCHEDULE B
Page 5
10. The quit Claim Deed recorded as Recording Number 9902032087 contains
an incorrect legal description and should be re-recorded. Said
legal omitted "thence south along the west margin of said county
road (BO`b Avenue South) to the south line of the Donation Claim;
thence west along said south line to the bank of White River, now
called Green River;"
11. Information available to the Company, but not of public record,
indicates that, as of May 2, 2007
Ralph Knudsen and Mary Knudsen
may sign on behalf of:
Knudsen Properties Limited Liability Company, a Washington limited
liability company
If there has been any change in the corporate/limited liability
agreement authorization, please notify your Title Officer prior to
execution of the forthcoming instrument.
12. 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 $10D,D00, and our
total liability under this commitment shall not exceed that amount.
13. 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
1.7B%-.
NOTE 1: Our examination discloses that the vestee herein does not own
any contiguous property.
NOTE 2- The name and address of the current taxpayer according to the
King County Assessors record is:
Knudsen Properties L.L.C.
P.O Box 1145
Kent, Washington 9BD35
(continued)
ElY''NrT
Order No. 6B668B
A L.T A. COMMITMENT
SCHEDULE B
Page 6
NOTE 3: The vestee(s) herein acquired title by instrument (s) recorded
under Recording Number(s) 9902032087
END OF SCHEDULE B
i
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.
CC• G.B. McCaughan & Associates/Des Moines/Jerry McCaughan
rg/9902032067
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PACIFIC NORTE3WEST THLE Order No . 686688
Company of Washington, Inc
I
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 reliance
hereon.
I XHUBIT
1
MEMO
TO MARK HOWLETT
FM ANNE RITTENHOUSE, RITTENHOUSE CONSULTING
RE KNUDSEN PROPERTIES LLC
DT. 12-16-2010
Dear Mark:
I am pleased to present the following documents, which Ralph and Mary Knudsen signed this morning.
1. PSA
2. SWD
3. EXCISE TAX AFFIDAVIT
Please present them as soon as possible to the Mayor for her signature.
After then have been signed, please return to Jerry for final processing and delivery to escrow.
Also, Mr. Knudsen is most anxious to have the environmental soils testing accomplished so that the
contingencies of paragraph#4 can be released His attorney has asked me to request a copy of the form
that will be used to release the contingencies, and to let him know how soon after testing he can expect
the Release to be signed.
Thank you for your help If I may be of any further assistance, please feel free to contact me.
Sincerely,
Anne Rittenhouse,SR/WA, R/W-NAC, R/W-RAC
Rittenhouse Consulting
WBE, DBE, SBE, SCS
Right-of-Way, Relocation and Real Estate Services
6229 121st Ave SE, Bellevue, WA 98006-4422
206-714-0826 425-641-4091FAX
Ritts@comcast net
www RittConsulting.com