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PW11-142 - Other - Lannoye - Title Documents - East Hill Operations Center - 08/27/2011
Records M eme m. KENT Document WASHINGTON sv 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: Lannoye Vendor Number: ID Edwards Number `1 Contract Number: &A I - ( l This is assigned by City Clerk's Office Project Name: East Hill Operations Center Description: ❑ Interlocal Agreement ❑ Change Order ❑ Amendment ❑ Contract ® Other: Final Settlement statement, note-deed of trust and signed escrow instructions Contract Effective Date: August 30, 2011 Termination Date: Contract Renewal Notice (Days): Number of days required notice for termination or renewal or amendment Contract Manager: Irtrid Willms-Dixon/Ken Langholz Department: Design/Engineering Detail: (i.e. address, location, parcel number, tax id, etc.): 12436 Se 248" St., Kent NE21-22-5 parcel numbers 212205-9099; 212205-9122; 212205-9177 submitted Sept 6, 11 S•Public\RecordsManagement\Forms\ContractCover\adcc7832 1 11/08 p• t� "; Settlement Statement (HUD-1) OMB Approval No 2502.0265 A Settlement Statement B. Type of Loan 1.5. Loan Type Conv Unins Pacific Northwest Title Company 6 File Number. 1126142 Final Statement 7. Loan Number 8 Mortgage Insurance Case Number: C Note' This form is furnished to give you a statement of actual settlement costs Amounts paid to and by the settlement agent are shown Items marked"(POC)"were paid outside this closing, they are shown here for informational purposes and are not included in the totals D Name of Borrower' City of Kent 220 Fourth Avenue South,Kent,WA 98030 E. Name of Seller:Lannoye Revocable Living Trust trrN 12436 SE 248th Street,Kent,WA 98030 r F. Name of Lender Doris I Lanoye Revocable Living Trust 12436 SE 248th Street Kent,WA 98030 G Property Location. 12436 SE 248th Street,Kent,WA 98030 t . H. Settlement Agent:Pacific Northwest Title Company (425)40 I• Address•400-112th Ave NE,#240,Bellevue,WA 98004 Settlement Date 0 813 012 01 1 Print Dale 08130/2011,2 25 PM Place of Settlement Address-400-112th Ave NE,#240,Bellevue,WA 98004 Disbursement Date 08130011 Signing Date J. Summary of Borrower's Transaction K Summary of Seller's Transaction 100. Gross Amount Due from Borrower 400. Gross Amount Due to Seller 101 Contract Sales Price 702,000 00 401 Contract sales price 702,000 00 102 Personal property 402 Personal property 103 SelBement charges to borrower pine 1400) 1,28475 403 Total Deposits 104 404 105 405 Adjustments for items paid by seller in advance Adjustments for items paid by seller in advance 106 Cityltown taxes 406 Cityltown taxes 107 County taxes 07/01111 to 08/30111 @$12 231yr 201 407 County taxes 07101111 to 08130/11 @$12 23fyr 201 108 Assessments 408 Assessments 109 County Tax-Parcel B 07/01/11 to 08130111 @$230 891yr 3795 409 County Tax-Parcel B 07101111 to 08130/11 @$230 891yr 3795 110 County Tax-Parcel C 07/01/11 to 08/30/11 @$12 241yr 201 410 County Tax-Parcel C 07/01/11 to 08/30111 @$12 24/yr 201 111 411 112 412 113 413 114 414 115 415 120 Gross Amount Due from Borrower 703,326 72 420 Gross Amount Due to Seller 702,041 97 200 Amounts Paid by or on Behalf of Borrower 500. Reductions In Amount Due to Seller 201 'Deposit or earnest money 352,333 72 501 Excess deposit(see instructions) 202 Principal amount of new loan(s) 351,000 00 502 Settlement charges to seller(line 1400) 16,275 53 203 Existing loan(s)taken subject 503 Existing can(s)taken subject 204 504 Payoff of first mortgage loan 205 505 Payoff of second mortgage loan 206 506 New Loan to File to Doris I Lanoye Revocable Living Trust 351,000 00 207 507 208 508 209 509 Adjustments for Items unpaid by seller Adjustments for items unpaid by seller 210 Cityltown taxes 510 Cityltown taxes 211 County taxes 511 County taxes 212 Assessments 512 Assessments 213 513 214 514 215 515 216 516 217 517 218 518 219 519 220 Total Paid b Ifor Borrower 703,333 72 520. Total Reduction Amount Due Seller 367,275 53 300. Cash at Settlement fromi Borrower 600 Cash at Settlement tolfrom Seller 301 Gross amount due from borrower(line 120) 1 703,326 72 601 Gross amount due to seller(line 420) 702,04197 302 Less amounts paid by/for borrower(bne 220) 703,333 72 602 Less reductions in amounts due seller(line 520) 367,275 53 303 Cash( From)(X To)Borrower 700 603 Cash(X To)( From)Seller 334,766.44 Previous editions are obsolete See Supplemental Page for details "Paid on Behalf of Borrower POC-B(Borrower),POC-S(Seller),POC-L(Lender),POC-MB(Mortgage Broker) The Public Reporting Burden for this collection of information is estimated at 35 minutes per response for collecting, reviewing, and reporting the data This agency may not collect this information,and you are not required to complete this form,unless it displays a currently valid OMB control number No confidentiality is assured,this disclosure is mandatory This is designed to provide the pames to a RESPA covered transaction with information during the settlement process Page 1 File No 1126142 Settlement Charges 700. Total Real Estate Broker Fees Paid From Paid From Division of commission(line 700)as follows Borrower's Seller's 701 Funds Funds 702 at Settlement at Settlement 703 Commission paid at settlement 704 800. Items Payable in Connection with Loan 801 Our origination charge (from GFE#1) 802 Your credit or charge(points)for the specific interest rate chosen (from GFE#2) 803 Your adjusted origination charges to Doris I Lanoye Revocable Living Trust (from GFE A) 804 Appraisal fee (from GFE#3) 805 Credit report (from GFE#3) 806 Tax service (from GFE#3) 807 Flood certification (from GFE#3) 808 (from GFE#3) 809 (from GFE#3) 810 (from GFE#3) 811 (from GFE#3) 900. Rams Required by Lender to Be Paid in Advance 901 Daily interest charges from (from GFE#10) 902 (from GFE#3) 903 Homeowners insurance (from GFE#11) 904 905 906 1000 Reserves Deposited with Lender 1001 Initial deposit for your escrow account (from GFE#9) 000 1002 Homeowners insurance 1003 Mortgage insurance 1004 Property taxes 0 mo(s)@$775 411mo $0 00 1005 1006 1007 Aggregate Adjustment 1100.Title Charges 1101 Title services and lenders title insurance $350 00 Sales Tax $33 25 (from GFE#4) FOG$383 25 1,14975 1102 Settlement or closing fee $210000SalesTax $19950 $1,14975 1,14975 to Pacific Northwest Title Company 1103 Owners title insurance -Pacific Northwest Title Company (from GFE#5) 1,09610 1104 Lender's title insurance 1105 Lenders title policy limit $ 351,000 00 1106 Owners title policy limit $ 702,000 00 Premium $100100 Sales Tax $9510 1107 Agent's portion of the total title insurance premium $ 70070 to Pacific Northwest Tale Company 1108 Underwriters portion of total title insurance premium $ 30030 to First American Title Insurance Company 1109 1110 1111 1112 1200 Government Recording and Transfer Charges 1201 Government recording charges (from GFE#7) 13500 1202 Recording fees Deed$65 00 Mortgage$70 00 Release$0 00 1203 Transfer taxes (from GFE#8) 1204 Citylcounty tax/stamps Deed$12,500 60 Mortgage$0 00 12,500 60 1205 State tax/stamps 1206 1207 1208 1209 1210 1300.Additional Settlement Charges 1301 Required services that you can shop for (from GFE#6) 1302 ParcelA-July/August to King County Treasury 37750 1303 Parcel B-July/August to King County Treasury 659 18 1304 Parcel C-July/August to King County Treasury 49240 1305 1306 1307 1308 1309 1310 1311 1400 Total Settlement Charges(enter on lines 103,Section J and 502,Section K) 1,284.75 16,275 53 See Supplemental Page for details "Paid on Behalf of Borrower POC-B(Borrower),POC-S(Seller),POC-L(Lender),POC-MB(Mortgage Broker) Page 2 File No 1126142 Comparison of Good Faith Estimate GFE and HUD-1 Charges Good Faith Estimate HUD-1 Charges That Cannot Increase HUD-1 Line Number Our origination charge # 801 0 00 Your credit I charge(points)for the specific interest rate chosen # 802 coo Your adjusted origination charges # 803 000 Transfer taxes # 1203 000 000 Charges That in Total Cannot Increase More Than 10% Good Faith Estimate HUD-1 Government recording charges # 1201 0 00 135 00 Title services and lenders title insurance # 1101 000 1,53300 # # Total 1.66800 Increase between GFE and HUD-1 Charges I $1,668 00 or NIA Charges That Can Change Good Faith Estimate HUD-1 Inibal deposit for your escrow account # 1001 000 000 Daily interest charges # 901 000 Homeowners insurance # 903 If Loan Terms Your initial loan amount is $351,000 00 Your loan term is years Your initial interest rate is % Your initial monthly amount owed for principal,interest,and any $ includes mortgage insurance is ❑ Pnncipal ❑ Interest ❑ Mortgage Insurance Can your interest rate rise? ❑ No ❑ Yes,it can rise to a maximum of% The first change will be on and can change again every after Every change date,your interest rate can increase or decrease by% Over the life of the loan,your interest rate is guaranteed to never be lower than% or higher than% Even if you make payments on time,can your loan balance rise? ❑ No ❑ Yes,it can rise to a maximum of$ Even if you make payments an time,can your monthly amount ❑ No ❑ Yes,the first increase can be on and the monthly amount owed for principal,interest,and mortgage insurance rise? owed can rise to$ The maximum it can ever rise to is$ Does your loan have a prepayment penalty? ❑ No ❑ Yes,your maximum prepayment penalty is$ Does your loan have a balloon payment? ❑ No ❑ Yes,you have a balloon payment of$ due in years on Total monthly amount owed including escrow account payments ❑ You do not have a monthly escrow payment for items,such as property taxes and homeowners insurance You must pay these items directly yourself ❑ You have an additional monthly escrow payment of$ that results in a total initial monthly amount owed of$ This includes principal,interest, any mortgage insurance and any items checked below ❑ Property taxes ❑ Homeowners insurance ❑ Flood insurance ❑ ❑ ❑❑ ❑ ❑ Note:If you have any questions about the Settlement Charges and Loan Terms listed on this form,please contact your lender Page 3 File No. Supplemental Page 1126142 HUD-1 Settlement Statement Pacific Northwest Title Company Loan No. Final Statement Settlement Date, 0813012011 Borrower Name&Address- City of Kent 220 Fourth Avenue South,Kent,WA 98030 Seller Name&Address- Lannoye Revocable Living Trust 12436 SE 248th Street,Kent,WA 98030 Section I Summary of Borrower's Transaction continue 100 Gross Amount Due From Borrower Borrower Charges Borrower Credits 200 Amounts Paid By Or In Behalf of Borrower 201 Supplemental Summary 352,333 72 a Earnest Money Deposit 15,000 00 b Funds For Closing 337,333 72 The following Section is restated from the Settlement Statement Page 1 300. Cash at Settlement fromito Borrower 600 Cash at Settlement tolfrom Seller 301 Gross amount due from borrower(line 120) 703,326 72 601 Gross amount due to seller(line 420) 702,04197 302 Less amounts paid by/for borrower(line 220) 703,333 72 602 Less reductions in amounts due seller(line 520) 367,275 53 303 Cash( From)(X To)Borrower 700 603 Cash(X To)( From)Seller 334,766 44 Page 4 ` Department of C eVe01,0 nue„1.� REAL ESTATE EXCISE TAX AFFIDAVIT This form is your receipt PLEASE TYPE OR PRINT CHAPTER 82 45 RCW—CHAPTER 458-61 A WAC when stamped by cashier THIS AFFIDAVIT WILL NOT BE ACCEPTED UNLESS ALL AREAS ON ALL PAGES ARE FULLY COMPLETED (See back of last page for instructions) Check box if partial sale of property It multiple owners,list percentage of ownership next to name Name Floyd D. Lannoye and Doris I. Lannoye,as Name City of Kent,a municipal corporation trustees,under the Floyd D. Lannoye and Doris I. a' tin a n i Trri a IA QQ5 W Mailing Address 12436 SE 248th Street w Mailing Address 220 Fourth Avenue South City/State/Zl Kent,WA 98030 0 City/State/Zip Kent,WA 98030 O Phone No (including area code) Phone No (melt dmg area code) Semi all property tax correspondence to �X Same as Buyer/Grantee List all real and personal property tax parcel account List assessed value(s) numbers-check box if personal property Name 212205-9099-07 n 181,000.00 Street 212205-9122-08 n 181,000.00 City/StateZip 212205-9177-02 Phone No (including area code) 1519 Su eet address of property 12436 SE 248th Street,Kent,WA 98030 This property is located in ❑ unincorporated County OR within IX City of Kent Check box it any of the listed parcels are being segregated from a larger parcel Legal description of property(if more space is needed,you may attach a separate sheet to each page of the affidavit) See Exhibit"A" attached hereto and made a part hereof Select Land Use Code(s) List all personal property(tangible and intangible)included in selling 11 price enter any additional codes (See back of last page of instructions) YES NO Is this property exempt from property tax per chapter 84 36 RCW(rion profit organization)? 11101111 YES NO If claiming an exemption,list WAC number and reason for exemption- Is this property designated as forest land per chapter 84 33 RCW? �X Is this property classified as cunent use(open space,farm and ❑ ❑X WAC No (Section/Subsection) agricultural,of timber)land per Chapter 84 34 RCW9 Is this nronerty receivinit special valuation as historical vrooerty ® Reason for exemption per Chapter 84 26 RCW9 if any answers are yes,complete as instructed below (1)NOTICE OF CONTINUANCE(FOREST LAND OR CURRENT USE) Type of Document Statutory Warranty Deed NEW OWNER(S) To continue the current designation as forest land or classification as current use(open space,farm and agriculture,or timber)land,you Date of Document August 11, 2011 must sign on (3) below The county assessor must then determine if the land transferred continues to qualify and will indicate by signing below If the land no Gross Selling Price $ 702,000.00 longer qualifies or you do not wish to continue the designation or classification,it *Personal Property(deduct) $ will be removed and the compensating or additional taxes will be due and payable Exemption Claimed(deduct) $ by the seller or tansferor at the time of sale (RCW 84 33 140 or RCW 84 34 108) Prior to signing(3)below,you may contact your local county assessor Taxable Selling Price $ 702,000.00 for more information Excise Tax State $ 8,985.60 This land does Eldoes not qualify for continuance Local $ 3,510.()0 *Delinquent Interest State $ DEPUTY ASSESSOR DATE Local $ (2)NOTICE OF COMPLIANCE(HISTORIC PROPERTY) *Delinquent Penalty $ NEW OWNER(S) To continue special valuation as historic property,sign(3) Subtotal $ 12,495.60 below It the new owner(s)do not wish to continue,all additional tax calculated pursuant to chapter 84 26 RCW,shall be due and payable by the seller or transferor *State Technology Fee $ 5.00 at the time of sale *Affidavit Processing Fee $ (3)OWNER(S)SIGNATURE Total Due $ 12,500.60 PRINT NAME A MINIMUM OF$10.00IS DUE IN FEE(S)AND/OR TAX *SEE INSTRUCTIONS I CERTIFY UNDER PENALTY OF PERJURY THAT THE FOREGOING IS TRUE AND CORRECT. /q Signature r g - Signature r J g l JG y Grantor or Grantor's A _ V, Grantee or rantee s A ept `��/L�yL Name(print) Floyd D. tt /Lannoye �"�n4 ,� Name(print) BuznTe' roke � lanf14Y2 �l CC,/fry.`.... Date&city of signingO Z,2-7 j jn Date and Place of signing V2- 7 Bellevue Perjury. Perjury is a class C felony which is punishable by imprisonment in the state correctional institution for a maximum term of not more than five years,or by a fine in an amount fixed by the court of not more than five thousand dollars($5,000 00),or by both imprisonment and fine(RCW 9A 20 020(1C)) REV 84 0001a(lonno) THIS SPACE-TREASURER'S USE ONLY COUNTY TREASURER Pacific Northwest Title Company AFTER RECORDING MAIL TO: , Parks, Recreation &Community Services Department Attn: Jeff Watling, Director 220 Fourth Avenue South Kent, WA 98032 Filed for Record at Request of, Pacific Northwest Title Company STATUTORY WARRANTY DEED File No: 1126142 (CLB) Date: August 11, 2011 Grantor(s): Lannoye Revocable Living Trust Grantee(s): City of Kent Abbreviated Legal: SW Qtr NE Qtr Sec 21 Twp 22 Rge 5, King County Additional Legal on page: Assessor's Tax Parcel No(s): 212205-9099-07 and 212205-9122-08 and 212205-9177-02 THE GRANTOR(S) Floyd D. Lannoye and Doris I. Lannoye, as trustees, under the Floyd D. Lannoye and Doris I. Lannoye Revocable Living Trust dated July 14, 1995 for and In consideration of Ten Dollars and other Good and Valuable Consideration, in hand paid, conveys, and warrants to City of Kent, a municipal corporation, the following described real estate, situated In the County of King, State of Washington. LEGAL DESCRIPTION: Real property in the County of King, State of Washington, described as follows. PARCEL A: The west 173.2 feet of the south 264 feet of the east half of the west half of the southwest quarter of the northeast quarter of Section 21,Township 22 North, Range 5 East,W.M., King County, Washington; EXCEPT the east 79.01 feet thereof; AND EXCEPT that portion lying south of the north margin of Southeast 248th Street,as established by deed recorded under Recording No. 5845351. PARCEL B: The east 79.01 feet of the west 173.2 feet of the south 264 feet of the east half of the west half of the southwest quarter of the northeast quarter of Section 21,Township 22 North, Range 5 East, W.M., King County,Washington; Page 1 of 3 LPB 10-05 APN. 212205-9099-07 Statutory Warranty Deed File No•1126142(CLB) -continued EXCEPT that portion lying south of the north margin of Southeast 248th Street, as established by deed recorded under Recording No. 5845351. PARCEL C: The south 264 feet of the east half of the west half of the southwest quarter of the northeast quarter of Section 21,Township 22 North, Range 5 East, W.M., King County, Washington; EXCEPT the west 173.2 feet thereof; AND EXCEPT that portion lying south of the north margin of Southeast 248th Street,as established by deed recorded under Recording No. 5845351; ALSO the east 15 feet of the south 909 feet of the west half of the southwest quarter of the northeast quarter of said Section 21; EXCEPT the south 264 feet thereof; ALSO the east 30 feet of the west half of the southwest quarter of the northeast quarter of said Section 21; EXCEPT the south 909 feet thereof. Subject To: This conveyance is subject to covenants, conditions, restrictions and easements, if any, affecting title, which may appear in the public record, including those shown on any recorded plat or survey. Floyd D. Lannoye and Doris I Lannoye, as trustees under the Floyd D Lannoye and Doris I. Lannoye Revocable Living Trust dated July 14, 1995 Floyyd�+ Lannoye, Co-Trustee (j Doris I Lannoye, Co-Trustees Page 2 of 3 LPB 10-05 APN: 212205-9099-07 Statutory Warranty Deed File No. 1126142(CLB) continued STATE OF Washington ) )-ss COUNTY OF King ) I certify that I know or have satisfactory evidence that Floyd D. Lannoye and Doris I. Lannoye, is/are the person(s) who appeared before me, and said person(s) acknowledged that he/she/they signed this Instrument, on oath stated that he/she/they is/are authorized to execute the Instrument and acknowledged it as the Trustees of Floyd D. Lannoye and Doris I. Lannoye Revocable Living Trust dated July 14 995 to be the free and voluntary act of such party(les) for the uses and purposes menti a In hishis instrument. Dated: 8 �1 11 r Notary Public in and for the ate ashington Residing at: I/ 'e V-'-t ECLAUDIAHN 0NN My appointment expires: D tj .pqBLICINGTONPIRES014 Page 3 of 3 LPB 10-05 After Recording Return To: Floyd D Lannoye and Doris I. Lannoye 12436 SE 248th Street Kent, WA 98030 Grantor(s) (Borrower): City of Kent Grantee(s) (Beneficiary): Floyd D. Lannoye and Doris I Lannoye, as Trustees under the Floyd D. Lannoye and Doris I. Lannoye Revocable Living Trust dated July 14, 1995 Grantee(s) (Trustee): Pacific Northwest Title Reference Number(s) of Documents assigned or released: N/A Legal Description (abbreviated): SW 1/4 of NE '/2, §21, T 22 N, R 5 E, W.M., King County Additional legal(s) on Exhibit A of document Assessor's Property Tax Parcel/Account Numbers: 2122059122, 2122059177 and 2122059099 DEED OF TRUST THIS DEED OF TRUST, made this A r0 day of A(JGljSf, 20111 between The City of Kent, GRANTOR, whose address is 220 Fourth Avenue South, Kent, Washington 98032, Pacific Northwest Title Company, a corporation, TRUSTEE, and Floyd D. Lannoye and Doris I. Lannoye, as Trustees under the Floyd D. Lannoye and Doris I. Lannoye Revocable Living Trust dated July 14, 1995, BENEFICIARIES, whose address is 12436 SE 248th Street, Kent, Washington, 98030. WITNESSETH: Grantor hereby bargains, sells and conveys to Trustee in Trust, with power of sale, the following described real property in King County, Washington: See Exhibit "A" attached and incorporated herein Deed of Trust Page 1 of 7 (City of Kent & Lannoye) which real property is not used principally for agricultural or farming purposes, together with all tenements, hereditaments, and appurtenances now or hereafter thereunto belonging or in any wise appertaining, and the rents, issues and profits thereof. This deed is for the purpose of securing performance of each agreement of Grantor herein contained, and payment of the sum of Three Hundred Fifty One Thousand and No/100 Dollars ($351,000.00), in lawful money of the United States of America with interest, in accordance with the terms of a promissory note of even date herewith, payable to Beneficiary or order, and made by Grantor, and all renewals, modifications and extensions thereof, and also such further sums as may be advance or loaned by Beneficiary to Grantor or any of his/her/their successors or assigns, together with interest thereon at such rate as shall be agreed upon. To protect the security of this Deed of Trust, Grantor covenants and agrees: 1. Except for Grantor's right to remove all structures, to keep the property in good condition and repair, to permit no waste thereof, and to comply with all laws, ordinances, regulations, covenants, conditions and restrictions affecting the property. 2. To pay before delinquent, all lawful taxes and assessments upon the property; to keep the property free and clear of all other charges, liens or encumbrances impairing the security of this Deed of Trust. 3. To keep all buildings hereafter erected on the property described herein continuously insured against loss by fire or other hazards in an amount not less than the total debt secured by this Deed of Trust. All policies shall be held by the Beneficiary, and be in such companies as the Beneficiary may approve and have loss payable first to the Beneficiary as its interest may appear and then to the Grantor. The amount collected under any insurance policy may be applied upon any indebtedness hereby secured in such order as the Beneficiary shall determine. Such application by the Beneficiary shall not cause discontinuance of any proceedings to foreclose this Deed of Trust. In the event of foreclosure, all rights of the Grantor in insurance policies then in force shall pass to the purchaser at the foreclosure sale. 4. To defend any action or proceeding purporting to affect the security hereof or the rights or powers of Beneficiary or Trustee, and to pay all costs and expenses, including cost of title search and attorney's fees in a reasonable amount, in any such action or proceeding, and in any suit brought by Beneficiary to foreclose this Deed of Trust Deed of Trust Page 2 of 7 (City of Kent & Lannoye) 5. To pay all costs, fees and expenses in connection with this Deed of Trust, including the expenses of the Trustee incurred in enforcing the obligation secured hereby and Trustee's and attorney's fees actually incurred, as provided by statute. 6. Should Grantor fail to pay when due, any taxes, assessments, insurance premiums, liens, encumbrances or other charges against the property hereinabove described, Beneficiary may pay the same, and the amount so paid, with interest at the rate set forth in the note secured hereby, shall be added to and become a part of the debt secured in this Deed of Trust. IT IS MUTUALLY AGREED THAT: 1. Grantor is authorized to destroy and remove all structures located on the property as of the date of this Deed of Trust. 2. In the event any portion of the property is taken or damaged in an eminent domain proceeding, the entire amount of the award or such portion as may be necessary to fully satisfy the obligation secured hereby, shall be paid to Beneficiary to be applied to said obligation. 3. By accepting payment of any sum secured hereby after its due date, Beneficiary does not waive its right to require prompt payment when due of all other sums so secured or to declare default for failure to so pay. 4. The Trustee shall reconvey all or any part of the property covered by this Deed of Trust to the person entitled thereto, on written request of the Grantor and the Beneficiary, or upon satisfaction of the obligation secured and written request for reconveyance made by the Beneficiary or the person entitled thereto. 5. Upon default by Grantor in the payment of any indebtedness secured hereby or in the performance of any agreement contained herein, all sums secured hereby shall immediately become due and payable at the option of the Beneficiary. In such event and upon written request of Beneficiary, Trustee or its authorized agent shall sell the trust property, in accordance with applicable law, at public auction to the highest bidder. Any person except Trustee may bid at Trustee's sale. Trustee shall apply the proceeds of the sale as follows: (i) to the expense of sale, including a reasonable trustee's fee and attorney's fee; (ii) to the obligations secured by this Deed of Trust; (iii) the surplus, if any, shall be deposited with the clerk of the superior court of the county in which the sale took place to be distributed in accordance with law. 6. Trustee shall deliver to the purchaser at the sale its deed, without warranty, which shall convey to the purchaser the interest in the property which Deed of Trust Page 3 of 7 (City of Kent & Lannoye) Grantor had or had the power to convey at the time of his/her/their execution of this Deed of Trust, and such as he/she/they may have acquired thereafter. Trustee's deed shall recite the facts showing that the sale is conducted in compliance with all requirements of law and of this Deed of Trust, which recital shall be prima facie evidence of such compliance and conclusive evidence thereof in favor of bona fide purchasers and encumbrances for value. 7. The power of sale conferred by this Deed of Trust is not an exclusive remedy; Beneficiary may cause this Deed of Trust to be foreclosed as a mortgage. S. In the event of the death, incapacity or disability or resignation of Trustee, Beneficiary may appoint in writing a successor trustee, and upon the recording of such appointment in the mortgage records of the county in which this Deed of Trust is recorded, the successor trustee shall be vested with all powers of the original trustee. The trustee is not obligated to notify any party hereto of pending sale under any other Deed of Trust or of any action or proceeding in which Grantor, Trustee or Beneficiary shall be a party unless such action or proceeding is brought by the Trustee. 9. This Deed of Trust applies to, inures to the benefit of, and is binding not only on the parties hereto, but on his/her/their heirs, devisees, legatees, administrators, executors, successors and assigns. The term Beneficiary shall mean the holder and owner of the note secured hereby, whether or not named as Beneficiary herein. 10. If the Property or any part thereof is sold, conveyed, leased, transferred, encumbered, or full possessory rights therein transferred without the prior written consent of Beneficiary, then Beneficiary may declare the entire remaining principal balance under this Deed of Trust immediately due and payable. This provision shall apply to each and every sale, transfer, conveyance or encumbrance regardless of whether or not Beneficiary has consented or waived its rights, whether by action or nonaction, in connection with any previous sale, transfer, conveyance or encumbrance, whether one or more. 11. Grantor shall pay when due all costs, fees and expenses incident to the property which are associated with a homeowner's or condominium owner's association, common area improvement and maintenance, and such similar expenses. Grantor further agrees to comply with all rules, regulations, covenants and restrictions of any homeowner's or condominium owner's association. Deed of Trust Page 4 of 7 (City of Kent & Lannoye) GRANTOR CITY OF KENT S;; ]� 4� �7 B . Suz t oke lts: e: STATE OF WASHINGTON ) ss. COUNTY OF KING ) On this 2.4-14Z day of , 2011, I hereby certify that I know or have satisfactory evidence that SUZETTE COOKE is the person who appeared before me, and said person acknowledged that she signed this instrument, on oath stated that she is authorized to execute the instrument on behalf of the City of Kent as its Mayor and such execution to be the free and voluntary act of such parry for the uses and purposes mentioned in the foregoing instrument. -Notary Seal Must Appear Wfthin This Box- IN WITNESS WHEREOF, I have hereunto set my hand and official seal the day an�ow,(`rs above written. aaaaqu J �r `9g10N ���� J/J' n i -Da �p1Aq� �5� i /ht° f 665 i V i NOTARY PUBLIC in and for the State of Washington, residing at 114 64-al", My appointment expires 7/S�' /Itl1�i�F1WA5N;���� Deed of Trust Page 5 of 7 (City of Kent & Lannoye) REQUEST FOR FULL RECONVEYANCE Do not record. To be used only when note has been paid. TO TRUSTEE The undersigned is the legal owner and holder of the note and all other indebtedness secured by the within Deed of Trust. Said note, together with all other indebtedness secured by said Deed of Trust, has been fully paid and satisfied; and you are hereby requested and directed, on payment to you of any sums owing to you under the terms of said Deed of Trust, to cancel said note above mentioned, and all other evidences of indebtedness secured by said Deed of Trust delivered to you herewith, together with the said Deed of Trust, and to reconvey, without warranty, to the parties designated by the terms of said Deed of Trust, all the estate now held by you thereunder. Dated: By: By: Deed of Trust Page 6 of 7 (City of Kent & Lannoye) PROMISSORY NOTE $351,000.00 (U.S.) r`u �� 2011 Kent, Washington FOR VALUE RECEIVED, the undersigned, CITY OF KENT, a Washington municipal corporation, at 220 Fourth Avenue South, Kent, WA, 98032, ("Borrower") promises to pay to the order of FLOYD D. LANNOYE AND DORIS I. LANNOYE, AS TRUSTEES UNDER THE FLOYD D. LANNOYE AND DORIS I. LANNOYE REVOCABLE LIVING TRUST, DATED IULY 14, 1995, whose mailing address is 12436 SE 248`h Street, Kent, Washington, 98030, ("Lender"), or such other place as Lender may from time to time designate in writing, the sum of Three Hundred Fifty-One Thousand And No/100 Dollars ($351,000), in lawful money of the United States of America. 1. Interest Rate. 1.1 Note Rate. Interest shall accrue on the unpaid principal balance at a rate of five percent (5%) per annum, and as provided in 1.2 below. 1.2 Default Rate. Should Borrower default in the payment of any installment when due hereunder or if Borrower defaults in the observance or performance of the Deed of Trust of even date securing this loan, interest shall accrue hereunder from the date of such default at an annual interest rate equal to twelve percent (12%) per annum ("Default Rate"). After the entire principal amount of the loan evidenced hereby shall become due and payable, whether by acceleration, at maturity, or otherwise, this Note shall bear interest at the Default Rate, 1.3 Computation of Interest. Interest shall be computed on the basis of a 365-day year and accrue on the basis of the actual number of days (including the first day but excluding the last day) occurring. 2. Security. This Note is secured by a Deed of Trust, (the "Deed of Trust") of even date made by Borrower in favor of Lender. Borrower agrees to perform and comply with all of the agreements, terms, and conditions of the Deed of Trust. 3. Repayment. This Note shall be due and payable on or before A�,sl• 30a 2012 (12 months after closing). 4. Prepayment. Borrower may prepay Borrower's obligations under this Note in full or in part at any time or from time to time without premium or penalty. PROMISSORY NOTE—Page 1 of 6 (City of Kent& Lannoye) 5. Application of Payments. Payments received by Lender from Borrower shall be applied first to interest and then to principal, except that prepayments made under paragraph 3 of this Note shall be applied as designated by Borrower. 6. Acceleration. Upon Borrower's failure to pay any amount payable hereunder as and when due or upon the occurrence of any other default under this Note or the Deed of Trust of even date, Lender may declare, at its sole option and upon fifteen (15) days written notice to Borrower, the entire indebtedness evidenced hereby immediately due and payable in full. Failure to exercise this option or any other right Lender may have shall not constitute a waiver of the right to exercise such option or any other right in the event of any subsequent default. 7. Costs and Fees of Collection. Borrower and every other person or entity at any time liable for the payment of the indebtedness evidenced hereby shall also be liable for all costs, expenses, and fees incurred by Lender in collecting any amounts owing hereunder, including reasonable attorneys' fees. Any judgment recovered by Lender shall bear interest at the Default Rate. S. Non-Recourse. Subject to the qualifications set forth below, Lender agrees that (i) Borrower shall be liable upon the indebtedness evidenced hereby to the full extent (but only to the extent) of the security therefore, (the "Security Property"), (ii) if default occurs in the timely and proper payment of all or any part of such indebtedness evidenced hereby, any judicial or other proceedings brought by Lender against Borrower shall be limited to the preservation, enforcement and foreclosure of the liens, estates, assignments, rights and security interests now or at any time hereafter securing the payment of this Note, and no attachment, execution or other writ of process shall be sought, issued or levied upon any assets, properties or funds of Borrower other than the Security Property except with respect to the liability described below in this section, and (iii) in the event of a foreclosure of such liens, estates, assignments, rights or security interests securing the payment of this Note, no judgment for any deficiency upon the indebtedness evidenced hereby shall be sought or obtained by Lender against Borrower, except with respect to the liability described below in this section; provided, however, that, notwithstanding the foregoing provisions of this section, Borrower shall be fully and personally liable and subject to legal action: (a) for proceeds paid under any insurance policies (or paid as a result of any other claim or cause of action against any person or entity) by reason of damage, loss or destruction to all or any portion of the Security Property, to the full extent of such proceeds not previously delivered to Lender, but which, under the terms of the Deed of Trust, should have been delivered to Lender; PROMISSORY NOTE—Page 2 of 6 (City of Kent& Lannoye) (b) for proceeds or awards resulting from the condemnation or other taking in lieu of condemnation of all or any portion of the Security Property, or any of them, to the full extent of such proceeds or awards not previously delivered to Lender, but which, under the terms of the Deed of Trust, should have been delivered to Lender; (c) for rents, issues, profits and revenues of all or any portion of the Security Property received or applicable to a period after the occurrence of any event of default or any event which, with the giving of notice and/or the passage of time, would constitute an event of default hereunder which are not either applied to the ordinary and necessary expenses of owning and operating the Security Property or paid to Lender; In the event that Borrower fails to obtain Lender's prior written consent to any assignment, transfer or conveyance of the Security Property or any interest therein as required by the Deed of Trust: (i) the Loan shall be fully recourse to Borrower; and (ii) Lender shall not be deemed to have waived any right which Lender may have under Sections 506(a), 506(b), 1111(b) or any other provisions of the U.S. Bankruptcy Code to file a claim for the full amount of the Loan or to require that all collateral shall continue to secure all of the indebtedness owing to Lender in accordance with the Deed of Trust. Nothing contained in this Section shall (1) be deemed to be a release or impairment of the indebtedness evidenced by this Note or the Deed of Trust or (2) preclude Lender from foreclosing the Deed of Trust in case of any default or from enforcing any of the other rights of Lender except as stated in this Section. 9. Applicable Law. This Note is made with reference to and is to be construed in accordance with the laws of the State of Washington, without regard to that state's choice of law rules. NOTICE: ORAL AGREEMENTS OR ORAL COMMITMENTS TO LOAN MONEY, EXTEND CREDIT, OR FORBEAR FROM ENFORCING REPAYMENT OF A DEBT ARE NOT ENFORCEABLE UNDER WASHINGTON LAW. EXECUTED as the day and year first above written. // PROMISSORY NOTE—Page 3 of 6 (City of Kent& Lannoye) CITY OF KENT By Nam zetfe Cooke Tile: M2 or STATE OF WASHINGTON ) ss. COUNTY OF KING ) I hereby certify that I know or have satisfactory evidence that Suzette Cooke is the person who appeared before me, and said person acknowledged that she signed this instrument, on oath stated that she is authorized to execute the instrument on behalf of the City of Kent as its Mayor, and such execution to be the free and voluntary act of such party for the uses and purposes mentioned in the foregoing instrument. -Notary Seal Must Appear Within This Box- IN WITNESS WHEREOF, I have hereunto set my hand and official seal the day and year first above written. v ,( fit v= `As��� NOTARY PUBLIC, in and for th�� _U , _ N of Washington, residing at N ALe��o 2 ' My appointment expires O`WASN` S' PROMISSORY NOTE—Page 4 of 6 (City of Kent & Lannoye) FLOYD D. LANNOYE AND DORIS I. LANNOYE, AS TRUSTEES UNDER THE FLOYD D. LANNOYE AND DORIS I. LANNOYE REVOCABLE LIVING TRUST DATED JULY 14, 1995 Name: Floyd D. Lannoye Title: Trustee Name: Doris I. Lannoye Title: Trustee STATE OF WASHINGTON ) ) SS. COUNTY OF KING ) On this Z� day of > , 2011, before me a Notary Public in and for the State of Washington, persona lly appeared Floyd D. Lannoye, personally known to me (or proved to me on the basis of satisfactory evidence) to be the person who executed this instrument and acknowledged it to be his free and voluntary act and deed for the uses and purposes mentioned in this instrument. -Notary Seal Must Appear Within This Box- IN WITNESS WHEREOF, I have hereunto set my hand and official seal the day and year first above written. CLAUDIA J. J3_My /� I 1 I'� JO N S 00 NOTARY PSTATE OF WAY PUBLIC, in and forte State COMMISSION hington, residing atAPRIL 9, ointment expires D PROMISSORY NOTE—Page 5 of 6 (City of Kent & Lannoye) STATE OF WASHINGTON ) ) SS. COUNTY OF KING ) On this day of u , 2011, before me a Notary Public in and for the State of Washington rsonally appeared Doris I. Lannoye, personally known to me (or proved to me on the basis of satisfactory evidence) to be the person who executed this instrument and acknowledged It to be her free and voluntary act and deed for the uses and purposes mentioned In this Instrument. Notary Seal Must Appear Within Ths Box IN WITNESS WHEREOF v hereunto set my hand and official seal the day and year first above wrltte . .J. CLAUDIA J JOHNS (01� (CA o ' NOTARY PUBLIC NO ARY PUBLIC, In and e State STATE OF WASHINGTO%f ashtngton, residing at Vet COMMISSION EXPIRES My ppolntment expires O a• 00 " i APRIL 9, 2014 PACivil\Files\Open Files\1523-Lannoye Purchase &Sale\Promissory Note docx PROMISSORY NOTE—Page 6 of 6 (City of Kent& Lannoye) Padflc Northwest Tide Company 400 Ave. #240 Bellevueue,,WA 9800404 Phn- (425)401-8400 Fax- (425)401-6540 I'Sc•tt*tc TJc�ait t�u;l=,�t '17rz,t. PACIFIC NORTHWEST TITLE COMPANY CLOSING ESCROW INSTRUCTIONS PURCHASER: City of Kent SELLER: Lannoye Revocable Living Trust DATE: 08/12/2011 ESCROW NUMBER: 1126142 (CLB) PRELIMINARY TITLE COMMITMENT NUMBER: 1126142 PURCHASER AND SELLER HEREIN APPOINT AND APPROVE PACIFIC NORTHWEST TITLE COMPANY, (hereinafter referred to as ESCROW AGENT) TO ACT AS ESCROW AGENT FOR THIS TRANSACTION. ESCROW AGENT is to be concerned only with the provisions specifically set forth in these instructions, which DO NOT incorporate the terms of the Purchase and Sale Agreement and Addenda (hereinafter referred to as the Agreement) executed by the parties and are not intended to amend, modify or supercede the terms and conditions set forth therein. CONDITIONS THAT SURVIVE ESCROW: The parties hereto agree that there may be certain conditions set forth in the above Agreement which may survive the closing of this escrow and ESCROW AGENT is to assume no responsibility or liability for such compliance. 1. SELLER herein deposits with ESCROW AGENT, pursuant to these instructions, the following: DOCUMENTS (X) Agreement (X) FIRPTA Certificate (X) Disclosure under APR 12 (X) Excise Sales Tax Affidavit (X) Statutory Warranty Deed (X) IRC 1099S Reporting Forms (X) N (X) N which ESCROW AGENT is instructed to deliver, release and/or record when ESCROW AGENT has for the account of SELLER $702,000 00 , subject to any charges and/or credits authorized herein. 2. PURCHASER herein deposits with ESCROW AGENT the funds required to close, in the form of a cashier's check, wired and/or collected funds in accordance with the Collected Funds Law (RCW 18.44 400); loan proceeds, if applicable; and the following: DOCUMENTS ESCROW INSTRUCTIONS (continued from previous page) ESCROW NUMBER: 1126142 (CLB) DAl E: 08/12/2011 (X) Agreement (X) Excise Tax Affidavit (X) Note (X) Disclosure under APR 12 (X) (X) Deed of Trust (X) (X) (X) (X) (X) (X) which sums and documents are required to be deposited prior to closing, and which ESCROW AGENT is instructed to disburse and/or deliver, as required to fulfill these instructions and when it has a policy or policies of title insurance or commitments therefor in the form(s) and amount(s) as follows: Title Commitment/Policy (X) Owner's ALTA Standard Amount: $ 702,000.00 (X) ALTA Homeowners Amount: $ (X) Owner's ALTA Extended Amount: $ (X) Mortgagee's ALTA Standard Amount: $ (X) Mortgagee's ALTA Extended Amount- $ The undersigned PURCHASER and SELLER have received, reviewed and approved for use in this escrow the preliminary commitment for title insurance, including any supplementals thereto and have reviewed and approved the legal descnption and general and special exceptions including the covenants, conditions and restrictions affecting said property as stated on the commitment The policy or policies issued will contain the insuring clauses, exceptions, exclusions,provisions and stipulations customarily contained in the printed provision of such form(s) and subject to exceptions shown in the preliminary commitment at the following paragraph number(s): 6-9 THE UNDERSIGNED SELLER HEREBY CERTIFIES THAT THERE ARE NO LIENS AND/OR ENCUMBRANCES AFFECTING SAID PROPERTY OTHER THAN AS SHOWN IN THE PRELIMINARY COMMITMENT THE PURCHASER AND SELLER CERTIFY THAT THEY HAVE DEPOSITED INTO THIS ESCROW ALL ADDENDA TO THE PURCHASE AND SALE AGREEMENT THE PURCHASER AND SELLER HAVE EXAMINED AND HEREBY APPROVE FOR USE IN THIS ESCROW THE ABOVE LISTED DOCUMENTS. 3. A. CLOSING STATEMENTS- ESCROW AGENT shall prepare closing statements which by reference herein are made a part hereof OR otherwise account to the parties for all funds received and disbursed hereunder at the time of final settlement and closing of this escrow ESCROW AGENT shall not be liable for the accuracy of information furnished to it by other persons in the normal course of business, or the failure to adjust items not designated in wntmg. The parties hereto agree to pay all their proper costs and fees, including any adjustments. Additional amounts which may become due for any reason shall be promptly paid to ESCROW AGENT by the party owing such amounts However, ESCROW INSTRUCTIONS (continued from previous page) ESCROW NUMBER. 1126142 (CLB) DATE: 08/12/2011 any advance made at its option shall be promptly reimbursed by the party for whom it is advanced and such optional advance shall not be an admission of liability on the part of the ESCROW AGENT B. PRORATIONS: Adjustment items shall be prorated on the basis of a 365 day calendar year. ESCROW AGENT shall account for adjustments, credit and charges of expense items according to the custom and usage of the community. ESCROW AGENT is instructed to prorate as of the actual date of closing, the following: 2011 real estate taxes, C. ESCROW DEPOSITS: All money received by ESCROW AGENT in this escrow is to be deposited in IOLTA bank accounts controlled by ESCROW AGENT pending closing. If an interest bearing account is to be established, ESCROW AGENT must be so advised in writing, prior to the deposit of funds, and furnished with a Federal Tax Identification Number. D. CLOSING: If this escrow has not been placed in a position to close by 08/16/2011 , the above items deposited by the parties hereto except earnest money, are to be returned to same upon written demand, at which time PURCHASER and SELLER will pay all charges in connection herewith. In the absence of such written demand, ESCROW AGENT will proceed with closing in an expeditious manner. E. UNCLAIMED PROPERTY: If checks distributed during the closing process to the last known address of the applicable payee(s) remain uncashed, then ESCROW AGENT may charge an annual fee of up to $100.00 for custody and administration of the unclaimed personal property. ESCROW AGENT will make a reasonable attempt to contact applicable payee(s) and reissue check(s), net of accrued annual fees Per Washington State law, any remaining unclaimed personal property will be forwarded to the State of Washington one (1) year from the date the uncashed check was issued. 4. A UTILITIES: In the event SELLER has not complied with the provisions of RCW 60.80, SELLER and PURCHASER waive the services of ESCROW AGENT to satisfy unpaid utility charges and agree to settle final bills outside escrow This provision includes but is not limited to water, garbage, sewer, telephone, metro, electricity, gas and Metro Capacity Charge ESCROW AGENT shall not be responsible for determination of remaining oil, nor payment thereof. B. FIRE OR CASUALTY INSURANCE: If a new policy of fire, hazard or casualty insurance on the property is required to close the transaction, the PURCHASER will arrange for the policy to be issued, outside of escrow, and will provide evidence of the coverage to the ESCROW AGENT prior to closing ESCROW AGENT shall have no responsibility nor liability for obtaining hazard/homeowner insurance. C. INFORMATION TO OTHERS- ESCROW AGENT is authorized and instructed to furnish, upon request, information concerning this escrow to the listing and/or selling real estate broker, the lender financing this transaction, if any, and attorneys representing the SELLER and PURCHASER. D. FIRPTA: If any seller is a non-resident alien or foreign corporation, partnership, trust or estate for the purposes of United States income taxation, the parties are advised to consult with their attorneys before the closing date to determine their responsibilities under the Foreign Investment in Real Property Tax Act (Section 1445 of IRC). The closing agent is not required to verify the nationality or foreign status of any of the sellers, or to withhold, report or pay any amounts due under such Act. ESCROW INSTRUCTIONS (continued from previous page) ESCROW NUMBER: 1126142 (CLB) DATE: 08/12/2011 E. LIABILITY LIMITATIONS: Without limitation ESCROW AGENT shall not be liable for any loss or damage resulting from the following: 1 Any default, error, action, omission of, or misrepresentations made by any other party. 2. The expiration of any time limit or other delay, unless such time limit was known to ESCROW AGENT and such loss is caused solely by failure of ESCROW AGENT to proceed in its ordinary course of business. 3. Any loss or impairment of funds deposited in escrow in the course of collection or while on deposit with a bank, savings bank or savings association resulting from failure, insolvency or suspension of such institution. 4. ESCROW AGENT complying with any and all legal process, writs, orders,judgments and decrees of any court whether subsequently vacated, modified, set aside or reversed. F. DISPUTES Should any dispute apse between the parties, or any of them, and/or any other party, concerning the property of funds involved in the transaction, the ESCROW AGENT may, at its sole discretion, hold all documents and funds in their existing status pending resolution of the dispute, or join or commence a court action, deposit the money and documents held by it with the court, and ask the court to determine the rights of the parties ESCROW AGENT is authorized to deduct, prior to deposit of funds in the court, a reasonable sum for costs of attorneys fees and filing fees Upon depositing said funds and documents with the court, the ESCROW AGENT shall have no further duties or responsibilities under these instructions. G. COUNTERPARTS- These escrow instructions maybe executed in counterparts with like effect as if all signatures appeared on a single copy. H UNDERLYING ENCUMBRANCES• SELLER acknowledges that if any underlying encumbrance(s) is to be paid in full as a part of this escrow, said payoff is based upon a written statement(s)by the Holder/Servicer. Said statement(s) will be updated written or verbally prior to closing. Interest is to be collected to such date as estimated by the ESCROW AGENT to be sufficient for the Holder/Servicer to have received payoff by regular certified mail, overnight delivery, wire or courier SELLER is responsible for any additional fees, interest or requirements in order to obtain necessary documents for release of such encumbrance(s). L DISBURSEMENTS: Payments disbursed hereunder will conform to the usual and customary practice of the industry and ESCROW AGENT is not responsible for any delays caused by such delivery. J. SELLER PROCEEDS- It is understood that SELLER'S proceeds will be disbursed upon receipt of collected funds from all parties and confirmation of recording numbers of the conveyance documents. K. ADVANCE OF EXCISE TAX: PURCHASER and SELLER acknowledge the Excise Tax, if required must be paid prior to closing and authorize ESCROW AGENT to pay such tax L. POSSESSION: Delivery of Personal Property or transfer of possession of Real Property or condition of either shall not be a part of this escrow nor an obligation of the ESCROW AGENT. M THIRD PARTY PURCHASER and SELLER acknowledge that third party written instructions may be submitted into this escrow Unless such instructions conflict with these instructions, they shall be incorporated herein. N. FORM 1099-S: In compliance with the Tax Reform Act of 1986, and any amendments thereto, SELLER shall provide all information necessary, including a Taxpayer Identification Number (TIN), preparation of a Form 1099-S as required by the Internal Revenue Service. ESCROW AGENT retains the option of not closing the escrow if adequate information is not provided. O. CANCELLATION: These instructions may be cancelled by a written agreement signed by all of the parties. Upon receipt of such agreement and payment of the ESCROW AGENT'S fees, costs and expenses, including but not limited to cancellation fees for title insurance and escrow services, the ESCROW INSTRUCTIONS(continued from previous page) ESCROW NUMBER: 1126142 (CLB) DATE: 06/12/2011 ESCROW AGENT shall return any money or documents then held by it to the parties that deposited the same, and shall have no further duties or responsibilities under these instructions. P All contingencies and/or conditions as set forth in the Purchase and Sale Agreement and Addenda have been fully met or waived. ESCROW AGENT is hereby removed from any responsibility and/or liability for same and is instructed to proceed with closing. Q. LEGAL DESCRIPTION: The undersigned PURCHASER and SELLER herein accept, approve and authorize the use of the legal description as evidenced in Preliminary Title Report No. 1126142 . I HAVE BEEN AFFORDED ADEQUATE TIME AND OPPORTUNITY TO READ AND UNDERSTAND THESE ESCROW INSTRUCTIONS AND ALL OTHER DOCUMENTS REFERRED TO HEREIN . BUYER(S): City of Kent, a municipal corporation y: S zette Cooke, Mayor DATED: Purchaser's Forwarding Address: MOVE IN DATE• 220 Fourth Avenue South, Kent,WA 98030 WORK PHONE NUMBER: CELL#: 2 - $5 r SELLER(S): Floyd D Lannoye and Dons I. Lannoye, as trustees under the Floyd D Lannoye and Dons I. Lannoye Revocable Living Trust dated July 14, 1995 Floyd D. Lannoye, Co-Trustee Doris I Lannoye, o-Trustee A ESCROW INSTRUCTIONS (continued from previous page) ESCROW NUMBER: 1126142 (CLB) DATE: 08/1212011 DATED: Sellers Forwarding Address: MOVE OUT DATE: l'JU 12436 SE 248th Street, Kent, WA 98030 WORK PHONE NUMBER. 63 J Sq3 7 CELL#: CDePadmgnL of eVA766 REAL ESTATE EXCISE TAX AFFIDAVIT This form is your receipt PLEASE TYPE OR PRINT CHAPTER 82 45 RCW—CHAPTER 45MIA WAC when stamped by cashier THIS AFFIDAVIT WILL NOT BE ACCEPTED UNLESS ALL AREAS ON ALL PAGES ARE FULLY COMPLETED (See hack of last page for instructions) Check box if partial sale of property If multiple owners,list percentage of ownership next to more Na D.Lannoye and Doris I.Lannoye,as Name City of Kent,a municipal corporation nder the Floyd D.Lannoye and Doris 1. Itruts,tees, t I' Gnn Tnset Astern 11 Iv 1A 1 qQKrvMas 12436 SE 248th Street MailingAddress 220 Fourth Avenue South _ Kent,WA 98030 m Cay/State/zip Kent,WA 9803Phuding area code) Phone No (includmgarca code) Send ell propcny six correspondence b �X Same as BuyedGvntee Ls"ali real and persorul'Open tax Parcel..tit last assessed value(s) cambers-check box i[persorul pmpeny Name 212205-9099-07 181,000.00 Smsel 212205-9122-08 181,000.00 City/State Zip 2122OS-9177-02 Phone No (mcludmg area code) 1519 © StresJ address of property 12436 SE 248th Street,Kent,WA 98030 r This property is located in Elunancorporatted County OR within Ufl City of Kent Check box if any of the listed parcds are being segregated train a larger parcel. Legal description of property(if more space is needed,you may attach a separate shed to catch page of the affidavit) See Exhibit"A"attached hereto and made a part hereof i Select land Ust Code(s) List all personal property(tangible and Intangible)included in selling 11 price enter any addmmnal codes (See back of last page of instructions) YES NO i Is this property exempt from property tax per chapter El0 84 36 RCW(non profit organirrtion)1 YES NO If claiming an exemption,list WAC number and reason for exemption Is this property designated as forest land per chapter 84 33 RCWo n 0 Is this property classified as current use(open space,farm and El ® WAC No (Section/Subsection) agncuhural,or umber)land per Chapter 84 34 RCW? Is this tirmanty rcarvma special valuation as historical nronedV 0 ® Reason for exemotm per Chapter 84 26 RCW? If any answers are yes,complete as amounted below I (1)NOTICE OF CONTINUANCE(FOREST LAND OR CURRENT USE) Type of Document Statutory Warranty Deed NEW OWNER(S) To continue the current designation as forest land or dssstficatmn as current List(open space farm and agriculture,or timber)land,you Date of Document August 11,2011 must sign on(3) below The county assessor most then demrrnme if the land i transferred continues to quality and will indicate by signing below If the land no Gross Selling Price S 702,000.00 longer qualities or you do not wish to continue the designation or classification.it 'Personal Property(deduct) S will be removed and the compounding or additional taxes will be due and payable Exemption Claimed(deduct) $ by the seller or transferor at the time of sale (RCW 84 33 140 or RCW Taxable Selling Price S 702,000.00 84 34 108) Prior to signing(3)below,you may comas your local county assessor J for more information Excise Tax State S 13,98560 , This land does ❑ does not qualify for continuance. Local S 3,510.00 ' *Delinquent Interest Stale S i DEPUTY ASSESSOR DATE Local S (2)NOTICE OF COMPLIANCE(HISTORIC PROPERTY) 'Delinquent Penalty $ NEW OWNE1i To continue special valuation as historic property,sign(3) below If the new owner(s)des rmt wish to continue,all additional tax calculated Subtotal $ 12,495.60 pursuant to chapter 8426 RCW,shall be due and payable by the seller or transferor *State Technology Fee S 5.00 I at the time of sale *Affidavit Processing I= S (3)OWNER(S)SIGNATURE Total Due S 12,500.60 PRINT NAME A MINIMUM OF SIO 00 IS DUE IN FEE($)ANWORTA% I •SEE INSTRUCTIONS I CERTIFY UNDER PENALTY OF PERJURY THAT THE FOREGOING IS TRUE AND CORRECT Signature of Signature of Grantor at Grantor's Agent Grentee or Grantee's Agent Name(pum) Floyd D Lannoye Name(prod) Suzette Coo Date&city of signing Bellevue Date and Place of signing BeNewee Perjury Perjury is a class C felony which is punishable by imprisonment in the stae correctional institution for a imura rm of not more than rive years,or by a fine in an amount fixed by the court of not more than five Thousand dollars(55,000 00),or by both impnsonme t and fi a(RCW 9A 20 020(1C)) REV 84 ooma(lonnB) THIS SPACE-TREASURER'S USE ONLY COUNTY TREASURER Pacific Northwest Title Company i 1 REAL ESTATE PURCHASE AND SALE AGREEMENT, BETWEEN THE CITY OF KENT and FLOYD D.AND DORIS I. LANNOYE,AS TRUSTEES UNDER THE FLOYD D. LANNOYE AND DORIS I. LANNOYE REVOCABLE LIVING TRUST DATED JULY 1995 The Buyer agrees to waive the requirements set forth in paragraph 10 (b), (d), and (e), regarding Septic System. Date: ' Z 7 J Seller's Initials Seller's Initials Buyer's Initials EXHIBIT A Legal Description, PARCEL A The west 173 2 feet of the south 264 feet of the east half of the west half of the southwest quarter of the northeast quarter of Section 21,Township 22 Noith,Range 5 East,W M,King County,Washington, EXCEPT the east 79 01 feet thereof, AND EXCEPT that portion lying south of the north margin of Southeast 248th Street,as established by deed recoi(led undei Recording 5845351 PARCEL B- The east 79 01 feet of the west 173 2 feet of the south 264 feet of the east half of the west half of the southwest quartei of the northeast quarter of Section 21,Township 22 North,Range 5 East,W M,King County,Washington, EXCEPT that portion lying south of the north margin of Southeast 248th Sheet,as established by deed i ecoided undei Recording No 5845351 PARCEL C. The south 264 feet of the east half of the west half of the southwest quaff ter of the noiheast quartei of Section 21, Township 22 North,Range 5 East,W M,King County,Washington, EXCEPT the west 173 2 feet thereof, AND EXCEPT that portion lying south of the north margin of Southeast 248th Street, as established by deed recorded under Recording No 5845351, ALSO the east 15 feet of the south 909 feet of the west half of the southwest quarter of the northeast quarter of said Section 21, EXCEPT the south 264 feet thereof, ALSO the east 30 feet of the west half of the southwest quarter of the northeast quarter of said Section 21, EXCEPT the south 909 feet thereof Tax Account Number: 212205-9099-07,212205-9122-08 and 212205-9177-02 ***END OF EXHIBIT A*** cler i Escrow No. 1126142 Pacific Northwest Title Company LIMITED PRACTICE OFFICER DISCLOSURE pi tcij ffiNoRTt•m4 g--rT1T1.t�COMPANY Pursuant to Rule 12 of the Rules for Admission to Limited Practice of Law by the Supreme Court of the State of Washington,the following notice is given to the principals of the transaction referred to below A person certified as a Limited Practice Officer under this Rule may select,prepare and complete documents in a form approved by the Limited Practice Board for use in closing a loan,extension of credit,sale or other transfer of real or personal property.Such documents shall be LIMITED to deeds,promissory notes,guarantees,security agreements, releases,Uniform Commercial Code documents, assignments,contracts,real estate excise affidavits,bills of sale and other documents as from time to time may be approved by the Board with concurrence of the Supreme Court Further,the Limited Practice Officer named herein will select,prepare and complete certain legal documents required for the closing of this transaction in accordance with the agreement of the principals and only in connection with this transaction,and you are further advised (1) That the Limited Practice Officer is not acting as the advocate or representative of either of the clients; (u) That the documents prepared by the Limited Practice Officer will affect the legal rights of both the clients, (111) That the clients' interest in the documents may differ, (iv) That the clients have a right to be represented by a lawyer of their own selection, (v) That the Limited Practice Officer cannot give legal advice as to the manner in which the documents affect the clients. Limited Practice Officer: Chen L Bakos, LPO#2854 Property Address: 12436 SE 248th Street,Kent,WA 98030 Documents Prepared Real Estate Excise Tax Affidavit and Statutory Warranty Deed 1 The undersigned hereby acknowledge that they have read,understand and received a copy of this statement prior to execution of any documents in connection with this transaction,and authorize the selection,preparation and completion of the legal instruments in accordance with this agreement (The Limited Practice Officer will require this notice signed and returned prior to the preparation of documents) SELLER(S). PURCHASER(S): City of Kent, a municipal corporation Floyd D Lannoye and Doris I Lannoye, as trustees under the Floyd D Lannoye and Dons I Lannoye Revocable Living Trust dated July 14, 1995 S e e Cooke, Mayor Floyd D Lannoye, Co-Trustee Dons I. Lannoye, Co-Trustee 5 �.'1C:1►7►Cr�(�R'T"I I�S�I?,'s"i"'�`I'►'I.►',CC?r'�tI�ANY Pacific Northwest Title Company 400-112th Ave. NE, #240, Bellevue, WA 98004 (425)401-8400 Fax-(425)401-6540 To: Pacific Northwest Title Company File No.: 1126142(CLB) Cheri Bakos, Escrow Officer Date: August 11, 2011 Re: 12436 SE 248th Street, Kent, WA 98030 (`Property") Seller: Lannoye Revocable Living Trust 1099-S INPUT FORM for IRS Reporting Why is this form required? Seller(s) of real property are required by law to provide the real estate reporting entity with your correct Social Secunty/Taxpayer Identification Number("SSN/TIN") By not providing your real estate reporting entity with your correct SSN/TIN,you may be subject to civil or criminal penalties Imposed by law under the Tax Reform Act of 1986 under Internal Revenue(IRS)Code Section 6045(E),6676,6722,6723 and 7203 Each Seller must complete a separate 1099-S Input Form. Domestic corporations are exempt from reporting. Husband and wife who file a ioint tax return should complete only one 1099-S Input Form with one social security number. '; Social Securi ,Number I —,-Tax pa e�Identificatiori Number7l, OR Name/Entity (for IRS Reporting of SSN or TIN) /LN�1 L, -f i^ Forwarding Street Address (after closing): 12436 SE 248th Street City Kent State WA Zip Code 98030 Country USA 1. What is your percentage or amount of ownership/sales price In the property? ❑ 1000% ❑Other % or$ (If other than 100%-see question#2 to name other owners) 2. If your answer to question #1 is not 100%, you must provide the Name/Entity for IRS Reporting of other owners and their Ownership Percentage or Amount. • Name/Entity for reporting Ownership%or$ • Name/Entity for reporting Ownership%or$ • Name/Entity for reporting Ownership%or$ Under penalties of per ury,I certify at the above information is correct. Your Signature �sy� PLEASE NOTE THAT 1099-S INPUT FORMS MUST BE SUBMITTED FOR ALL SELLERS. For Escrow 04rbrily=Additional File Infq{tijjt[obI- I ` [ J Change No of 1099-S Forms Is NameJtntity Party a'Non-Record'Seller? [ ] Is Property part of an Exchange? [ )Vold required for this file? [ )Delete ( ] Type Is [ )H/W or Individual [ J Trust/Business [ 3 YES [ ]NO -For Escrow se�Onli'�R'equlr'ed for 1099-5 Data Entry Only(No entry In FAST) 5 [ )Add Contract Sales Pnce Buyer's Part of Real Estate Tax Actual Settlement Date [ J Change Delete Rev 8/07/06 RPninm Pacific Northwest FAST Office. 1111(3365)(CLB) SELLER'S CERTIFICATION OF NON-FOREIGN STATUS UNDER FOREIGN INVESTMENT IN REAL PROPERTY TAX ACT ("FIRPTA") (26 U.S.C. 1445) File No: 1126142 August 11, 2011 THIS SECTION FOR INDIVIDUAL TRANSFEROR: Section 1445 of the Internal Revenue Code provides that a transferee (buyer) of a U.S. real property interest must withhold tax if the transferor(seller) is a foreign person. To inform the transferee (buyer) that withholding of tax is not required upon my disposition of a U.S. real property interest, I, R 02' -9 TZ j- hereby certify the following: 1. I am not a nonresident alien for purposes of U.S. income taxation; 2. My U.S. taxpayer identification number (Social Security Number) is ,'� A' 3. My home address is 12- `{-36, .5.5- z4 � ST_ I� nr_F LAJ �--J S f-) a 9'G 3 O I understand that this certification may be disclosed to the Internal Revenue Service by the transferee and that any false statement I have made here could be punished by fine, imprisonment, or both. Under penalties of perjury I declare that I have examined this certification and to the best of my knowledge and belief it is true, correct, and complete. nn _ffzV/)1 t Date Signature rL v f'D ©_ t Typed or Printed Name THIS SECTION FOR ENTITY TRANSFEROR: Section 1445 of the Internal Revenue Code provides that a transferee of a U.S. real property interest must withhold tax if the transferor is a foreign person. For U.S. tax purposes (including Section 1445), the owner of a disregarded entity (which has legal title to a U.S. real property interest under local law) will be the transferor of the property and not the disregarded entity. To inform the transferee that withholding of tax is not required upon the disposition of a U.S. real property interest by [name of transferor] ('Transferor"), the undersigned hereby certifies the following on behalf of Transferor: 1. Transferor is not a foreign corporation, foreign partnership, foreign trust, or foreign estate (as those terms are defined in the Internal Revenue Code and Income Tax Regulations); 2. Transferor is not a disregarded entity as defined in Section 1.1445-2(b)(2)(ni); 3. Transferor's U.S. employer identification number is 4. Transferor's office address is Transferor understands that this certification may be disclosed to the Internal Revenue Service by transferee and that any false statement contained herein could be punished by fine, imprisonment, or both. Under penalties of perjury I declare that I have examined this certification and to the best of my knowledge and belief it is true, correct, and complete, and I further declare that I have authority to sign this document on behalf of Transferor. Date Signature Typed or Printed Name ic,GR1vNF� a I /L Pacific Northwest Title Company rwncuonnx+n rmxPwrnw 400-112th Ave NE,9240•Bellevue,WA 98004 Buyer's Estimated Settlement Statement I Property. 12436 SE 248th Street,Kent,WA 98030 File No: 1126142 Officer: Cheri Bakos/CLB New Loan No: Estimated Settlement Date: 08/30/2011 Disbursement Date: Print Date: 08/18/2011,9 10 AM Buyer: City of Kent Address: 220 Fourth Avenue South,Kent,WA 98030 Seller: Lannoye Revocable Living Trust Address: 12436 SE 248th Street,Kent,WA 98030 Charge Descri ti6n, `"` `'. s: :$aBu"t r Cliar"e A fBu er Credifk*;, Consideration: Total Consideration 702 000 00 Deposits in Escrow: Receipt No 5443 on 08/09/2011 by City of Kent a municipal corporation 15,00000 Proration: County Tax-Parcel A 07/01ill to 08/30/11 $12 236E 201 County Tea-Parcel B 07/0111 1 to 08/30/11 $230 89/yr 3795 County Tax-Parcel C 07/01/11 to 000/1 I $12 24/yr 201 New Loans: Lender Dons I Lamiya Revocable Living Tmst New Loan to File-Dons I Lano a Revocable Lmn Tmst 351,000 00 Title/Escrow Charges to Title Work Charge for parcel#212205-9122 to Pacific POC$383 25 Northwest Title Company$350 00 Sales Tax $33 25 Settlement or Closing Fee to Pacific Northwest TalcCompaxty$1,050 00 Sales Tax $99 75 1,14975 Record Warrant Deed-First to Pacific Northwest Title Company 6500 Rea.ord Deed of Tms(-Fast to Pacific Northwest Title Company 7700 Cash(X From)( To)Borrower 337,333 72 Totals 703,333 72 703,333 72 Buyar(S): City of Kent g Ipal corporati� By tte ke,Mayor i Pacific Northwest Title Company ^ i By Cheri Ba cos 06 I i i Page I or I Pacific Northwest Title Company AUPFF,N(.,,,..r,,,iln II auM.AW 400- 112th Ave NE,#240•Bellevue,WA 98004 Seller's Estimated Settlement Statement Property: 12436 SE 248th Street, Kent,WA 98030 File No: 1126142 Officer: Chen Bakos/CLB New Loan No: Estimated Settlement Date: 08/30/2011 Disbursement Date: Print Date: 08/25/2011, 2.16 PM Buyer: City of Kent Address: 220 Fourth Avenue South,Kent,WA 98030 Seller: Lannoye Revocable Living Trust Address: 12436 SE 248th Street, Kent,WA 98030 Charge Description Seller Char a Seller Credit Consideration: Total Consideration 702,000 00 Proration: Count Tax-Parcel A 07/01/11 to 08/30A 1 $12 23/ r 201 CounM Tax-Parcel B 07/01/11 to 08130/I l @S230 89/yr 3795 Count Tax-Parcel C 07/01/11 to 08/30/1 1 $12 24/yr 201 New Loans : Lender. Doris I Lano e Revocable Living Trust New Loan to File-Doris I Lano e Revocable Living Trust 351,000 00 Title/Escrow Charges to: Settlement or Closing Fee to Pacific Northwest Title Company$1,050 00 Sales Tax $99 75 1,14975 ALTA Standard Owner Policy-2006 to Pacific Northwest Title Company$1,001.00 Sales Tax $95 10 1,096 10 Excise Tax to King County Treasurer 3,51000 Excise Tax to King County Treasurer 8,99060 Disbursements Paid: Parcel A-July/August to King County Treasuiy 401 74 Parcel B-Jul /Au usl to King County Treasury 62368 Parcel C-lul /Au ust to King County Treasury 52540 Cash(X To)( From)Seller 334,744 70 Totals 702,04197 702,04197 SELLER(S): Floyd D. Lannoye and Doris I Lannoye, as trustees under the Floyd D Lannoye and Doris I Lannoye Revocable Living Trust dated July 14, 11995 / —A Floyd Y Lannoye, Co-Trustee / Doris 1 Lannoye, Co-Trust Pacific Northwest Title Company By 6 Chen akos Page 1 of 1 Willms - Dixon, Ingrid From: Shannon McLean [ShannonMcLean@PNWT corn] Sent: Tuesday, August 30, 2011 11 09 AM To: Willms- Dixon, Ingrid Cc: Cheri Bakos, Langholz, Ken Subject: RE 1126142/1-annoye Living Trust That would be for recording fees. O From: Willms - Dixon, Ingrid rmailto:IDixon(abci.kent.wa usl Sent: Tuesday, August 30, 2011 11:07 AM To: Shannon McLean Cc: Cheri Bakos; Langholz, Ken Subject: RE: 1126142/1-annoye Living Trust What's the refund for? Please don't forget the copy of the note. Ingrid From: Shannon McLean [madto:ShannonMcLean(o)PNWT.coml �� M Sent: Tuesday, August 30, 2011 11:00 AM To: Willms - Dixon, Ingrid Cc: Chen Bakos Subject: 1126142/1-annoye Living Trust Its closedIllf O I will send down your copies along with your final hud and your$7 00 refund, O Thank you Shannon McLean 1 REQUEST FOR MAYOR'S SIGNATURE ENT Please Fill in All Applicable Boxes KniM4rVu Routing Information (ALL REQUESTS MUST FIRST BE ROUTED THROUGH THE LAW DEPARTMENT) Originator: Ingrid Willms-Dixon Phone (Originator): x5519 Date Sent: 8/25/11 Date Required: 8/26/11 Return Signed Document to: Ingrid CONTRACT TERMINATION DATE: n/a VENDOR NAME: Lannoye DATE OF COUNCIL APPROVAL: 12/14/10 Brief Explanation of Document: Closing Documents regarding the Lannoye property purchase - Buyer's Estimated Settlement Statement, Limited Practice Officer Disclosure, Real Estate Excise Tax Affidavit and Closing Escrow Instructions The property is expected to close 8/30, so in order to submit the required docs to escrow in time, we are asking Mayor Cooke to sign first. Fully executed originals will be submitted to Clerk for scanning after Lannoye has signed. C cts Must Be Routed Through The taw Department (This area to be completed by the Law Department) AUG 2 5 2011 Received: ApprovalKEXT& . DEPT. ��1a ` � "� 11 'REcEit;ED Law Dept. Comments: Date Forwarded to Mayor: 9'1z61/, City of Kent )a1ce UT the iviayOr Shaded Areas To Be Completed By Administration Staff Received: Recommendations and Comments: Disposition: Date Returned: /W 40^* REQUEST FOR MAYOR'S SIGNATURE K E N T Please Fill in All Applicable Boxes w.,�...... Routing Information (ALL REQUESTS MUST FIRST BE ROUTED THROUGH THE LAW DEPARTMENT) Originator: Ingrid Willms-Dixon Phone (Originator): x5519 Date Sent: 8/25/11 Date Required: 8/26/11 Return Signed Document to: Ingrid CONTRACT TERMINATION DATE: n/a VENDOR NAME: Lannoye DATE OF COUNCIL APPROVAL: 12/14/10 Brief Explanation of Document: New Promissory Note and Deed of Trust regarding the Lannoye property purchase. Both documents were signed previously by Mayor Cooke, but were not notarized at the time of Mayor's signature, so they need to be re-signed. The property is expected to close 8/30, so in order to submit the required docs to escrow in time, we are asking Mayor Cooke to sign first. Fully executed originals will be submitted to Clerk for scanning after Lannoye has signed. All Contracts Must Be Routed Through The Law Department (This area to be completed by the Law Department) Received: AUG 2 5 2011 Approval KEMTD�AW DEPT. Law Dept. Comments: �'� 6 aft E� Date Forwarded to Mayor: g11-15111 AUG 25 2011 GI y 01 Kent Shaded Areas To Be Completed By Administratiot;SWYbf the Mayor Received: Recommendations and Comments: Disposition: 0-(/� �W Date Returned: