HomeMy WebLinkAboutPK15-136 - Other - Eretz Capital LLC - Closing Documents - 07/30/2015 REQUEST FOR MAYOR'S SIGNATURE
T Pr int on Cherry-(-Olored Pape)-
Routing Information (ALL REQUESTS MUST FIRST BE ROUTED THROUGH THE LAW DEPARTMENT)
Approved by Director
Origin ator: I<im l<omto Phone Ori Inator):5788
Date Sent:7129/15 Date Required:ASAP
Return Signed Document to: Kim Komoto Contract Termination Date:
VENDOR NAME-
Date y a( Date Finance Notified: : —
� (Only required on contracts April 9 2015
(,�i
I l/(i tV/•• 10 000 and over or on any Grant)
DATE OF COUNCIL A PROVAL: Date Risk Manager Notified: N/A
April 9,2015 Re uired on Non-City Standard Contracts/Agreements
Has this Document been Specifically Account Number: P2102.59530
Authorized in the Budget? YES NO
Brief Explanation of Document:
Closing Documents for property located at 3536 South 252nd Street, Kent, WA 98032
sh Be f�ol'Ited Through The Law Department
All Conk"" I - , ,
it (This area il'q be completed by the Law Department)
Received:
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Approval of Law Dept.: 0 �w
Law Dept. Comments:
Date Forwarded to Mayor: l y �, �S G-)
Shaded Areas To Be Completed By Administration Stff, »
Received: 5' '
R s mments: ll '
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Disposition:
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Date Returned:
CITY OF KENT _
vCl !L2 ooawe e.Pesiio.Meyws sivw..d—
PVWX V d-UVVi 00(i
(0 I U �W o 1mo! - rwvv
,,•' """'r� FirstAmerlcan 77tte Insurance Company
' First Ameirican 1707 S 19th Street,Ste 101
- Tacoma,WA 98405
Phn• (253)752-3600
Fax- (866)506.1883
escrow.northtacoma.wa@firstam.com
DISCLOSURES TO THE PARTIES
UNDER APR 12
Dated: July 27, 2015 File No.: 4266-2412441 (BJ)
IN ACCORDANCE WITH THE REQUIREMENTS OF A.P.R. 12 OF THE SUPREME COURT OF THE STATE
OF WASHINGTON, FIRST AMERICAN TITLE INSURANCE COMPANY AND THE CLOSING OFFICER
SPECIFIED BELOW HAVE THE DUTY TO INFORM YOU OF THE FOLLOWING:
1) The Closing Officer is not acting as the advocate or representative of either of the parties;
2) The Closing Officer will prepare documents which affect the legal rights of both parties;
3) The parties may have differing interest in the documents;
4) The parties have the right to be represented by lawyers of their own selection and each party
may have a separate lawyer;
5) The Closing Officer cannot give legal advice to the parties concerning the manner in which the
documents affect those parties.
The Closing Officer is only permitted to select and complete documents which have been approved by the Limited
Practice Board in accordance with a written Purchase and Sales Agreement which contains all of the basic terms of
the transaction, The Closing Officer is not permitted to negotiate terms which are not included in the written
Purchase and Sales Agreement. The Closing Officer is not permitted to practice law.
In this transaction your Closing Officer is: Bruce Judson
FIRST AMERICAN TITLE INSURANCE COMPANY
By:
«IlTable Field LPO Not Foundll>>
Please acknowledge receipt of the foregoing Notice of Compliance with A.P.R.12 and that you have read the same
by signing your name(s) to the copy of this Notice on the signature line(s) below. (If such Notice has been hand
delivered or mailed to you, please return the copy of the Notice showing your signature(s) in the enclosed, self
addressed envelope.) We will be unable to continue with the closing until we have received the signed Notice
from you.
I have received and read a copy of the Disclosure, and understand its contents this day of
20
Eretz Capital LLC, a Washington limited P
liability company '
By: Daniel Birk, Manager
FlrstAmerlcan rtle Insurance Company
'.
A rst American 4707 S 19th Street,Ste 101
Y, Tacoma,WA 98405
Phn- (253)752-3600
Fax- (866)506-1683
escrow.northtacoma.wa@firstam.com
City of
Kent, a municipal corporation 40
1 l
(!By-.: S zette Cooke, Mayor
iirstAmerican Title Insurance Company
First erica 4707 S 19th Street,Ste 101 i
d' Tacoma,WA 98105 '..
" Phn• (253)752-3600
Fax- (866)506-1883
esaow.northtamma.wa@firstam.com
ATTACHMENT TO DISCLOSURES TO THE PARTIES UNDER APR 12
Date: 07/27/2015 File No.: 4266-2412441 (BJ)
THE FOLLOWING DOCUMENTS INITIALED HAVE BEEN SELECTED AND PREPARED BY THE LIMITED PRACTICE OFFICER,
X EXCISE TAX AFFIDAVIT
SUPPLEMENTAL EXCISE TAX AFFIDAVIT
X LPB 10 STATUTORY WARRANTY DEED
LPB 11 STATUTORY WARRANTY DEED(FULFILLMENT OF REC)
LPB 12 QUIT CLAIM DEED
LPB 13 SELLER'S ASSIGNMENT OF CONTRACT AND DEED
LPB 14 PURCHASER'S ASSIGNMENT OF CONTRACT AND DEED
LPB 15 BARGAIN AND SALE DEED
LPB 16-09 SPECIAL WARRANTY DEED
LPB 20 DEED OF TRUST(SHORT FORM)
LPB 21 ASSIGNMENT OF DEED OF TRUST
LPB 22 DEED OF TRUST(LONG FORM)
LPB 22A DEED OF TRUST
LPB 23 REQUEST FOR FULL RECONVEYANCE
LPB 24 REQUEST FOR PARTIAL RECONVEYANCE
LPB 28A PROMISSORY NOTE
LPB 29 REQUEST FOR NOTICE
LPB 30 BILL OF SALE
LPB 35 SUBORDINATION AGREEMENT
LPB 44 REAL ESTATE CONTRACT(SHORT FORM)
LPB 45 REAL ESTATE CONTRACT(LONG FORM)
LPB 50 MORTGAGE(STATUTORY FORM)
LPB 51 SATISFACTION OF MORTGAGE
LPB 52 PARTIAL RELEASE OF MORTGAGE
LPB 60 RELEASE OF LIEN
LPB 61 PARTIAL RELEASE OF LIEN
LPB 62 SATISFACTION OF JUDGMENT
INITIALS: d
.. • .., ,. I F7rst American Title Pnsurance Company
First American
4107 S 19th Street,Ste 101
` Tacoma,WA 98105
Phn- (253)752-3600
Fax- (866)506-1883
escrow.northtacoma.wa@firstam.com '...
ATTACHMENT TO DISCLOSURES TO THE PARTIES UNDER APR 12 continued
Date: July 27, 2015 File No,: 4266-2412441 (B]
LPB 63 PARTIAL RELEASE OF JUDGMENT
LPB 64 WAIVER OF LIEN
LPB 65 PARTIAL WAIVER OF LIEN
LPB 70 SPECIAL POWER OF ATTORNEY (SALE)
LPB 71 SPECIAL POWER OF ATTORNEY(PURCHASE/ENCUMBER)
LPB 72S CONSUMER USE TAX RETURN (DEPARTMENT OF REVENUE)
LPB 72 USE TAX RETURN
LPB 73 PERSON PROPERTY SECURITY AGREEMENT
AUDITOR'S COVER SHEET
UCC
UCC
UCC
DEPARTMENT OF LICENSING FORMS
LENDER LOAN DOCUMENTS THAT ARE APPROVED AND DESIGNED FOR USE BY THE SECONDARY
MORTGAGE MARKET INCLUDING NOTES, DEEDS OF TRUST AND RIDERS, ASSIGNMENT OF
MORTGAGE, ASSIGNMENT OF REVERSE ACCOUNT FUNDS, DEPARTMENT OF HOUSING AND URBAN
DEVELOPMENT DOCUMENTS. THE LIMITED PRACTICE OFFICER DID NOT PREPARE TRUTH-IN-
LENDING DISCLOSURE,
FMHA LOAN DOCUMENTS
INITIALS: �¢? <�
Pleas
i
FirstAmerkan Title Insurance Company
.` FirstAmeirican
4707 S 19th Street,Ste 101
Tacoma,WA 98405
Phn- (253)752-3600
Fax- (866)506-1883
escrow.northtacoma.wa@rimtam.com
ESCROW INSTRUCTIONS
VACANT LAND
i
Buyer: Eretz Capital LLC
Seller: City of Kent, a municipal corporation
Title Commitment: Title commitment number 4266-2412441
Escrowee: First American Title Insurance Company
Escrow Officer: Bruce Judson
Property: The real property described In the Title Commitment
A. Instruction To C/ose
Escrowee has been provided a copy of the Purchase and Sale Agreement dated March 17, 2015 and/or other
documents, agreements and addenda which constitute Seller's agreement to sell the Property to Buyer
(collectively, the "Purchase Agreement"). Buyer and Seller Instruct Escrowee to act as an independent third party
to close the purchase and sale of the Property(the `Transaction") in accordance with the Purchase Agreement
and these instructions. In the event there Is a variance between:
(1) the terms of the Purchase Agreement; and
(2) the final terms of the Transaction as evidenced by the documents delivered under these or
other Instructions, and the closing statements agreed to by the parties,
then Escrowee shall close the Transaction in accordance with the Items described in (2)above.
Buyer and Seller acknowledge and agree that: (a)all terms and conditions of the Purchase Agreement have been
met, waived, or satisfied, or will be resolved outside of escrow and they are no longer to be considered as
conditions to this closing; (b) Escrowee shall not be responsible for such terms and conditions; (c) Seller's
Disclosure Statement required under Title 64 of the Revised Code of Washington ("RCW")will be
delivered or waived outside of escrow and is not to be considered a condition of closing:and (d)
Escrowee will not read nor have any responsibility or liability whatsoever for the matters contained
in Seller's Disclosure Statement.
B. Title Commitment
Buyer and Seller acknowledge they have received a copy of the Title Commitment and have examined the legal
description contained therein and acknowledge it is a full and correct description of the real property that Is the
subject of this Transaction,
C. Escrowee'sPrenarat/onofDocuments
In performing Its duties under these instructions, Escrowee may select, prepare and complete certain documents
Including, but not limited to, deeds and deeds of trust, Escrowee advises Buyer and Seller to consult their own
attorney prior to signing these documents.
Buyer and Seller acknowledge that:
Page 1 of 8
First American Title Insurance Company File No.: 4266-2412441 (BJ)
Date: July 27, 2015
1) These documents may substantially affect their legal rights;
2) Escrowee Is not licensed to practice law;
3) Neither Escrowee nor Its employees are permitted to offer legal advice of any nature, nor
have they done so;
4) Neither Escrowee nor its employees are permitted to offer advice as to the merits of a
transaction or the manner In which title is held, nor have they done so.
D. Delivery of Documents and Funds by Seller
Seller has or will deposit with Escrowee the documents identified below relating to the Property. Any deed(s)will
list the grantee(s) as Eretz Capital LLC, a Washington limited liability company, Escrowee shall record, file,
release and/or deliver such documents when Escrowee has deposited all necessary funds and all other pre-
requisites to closing have been satisfied.
[X] Warranty Deed [ X] Excise Tax Affidavit
[ ] Bill of Sale [ ] Real Estate Contract(to be)olntly executed by Buyer)
[ ] Deed in fulfillment of said Contract(To be returned to seller's possession on dosing)
[ ] Additional Documents:
If necessary, Seller has or shall deliver to Escrowee such funds as are required to close the Transaction.
Escrowee is Instructed to provide a certification that Seller is not a "foreign person" within the meaning of the
Foreign Investment in Real Property Tax Act ('FIRPTA ). Seller shall sign this certification. If Seller is a foreign
person, and this transaction Is not otherwise exempt from FIRPTA, Escrowee Is Instructed to withhold and pay the
required amount to the Internal Revenue Service.
E. Payment of Encumbrances and Seller Charoes
Seller authorizes Escrowee to pay all encumbrances (except those to be excepted from coverage In the title
Insurance policy) and all other disbursements and charges shown on the estimated closing statement which Seller
signs contemporaneously with these Instructions. If there are underlying encumbrances being paid off which
require the obtaining of a Fulfillment Deed, Reconveyance, Release or Satisfaction (collectively, a "Release
Document"), Escrowee shall pay the demand of the appropriate party and obtain and record such Release
Document. Seller approves payment of the amount of the demand, Including Interest and/or penalties and late
charges, as shown on the closing statement, even If Escrowee has not been able to obtain written verification of
the amount claimed as due. In the event the final written demand is higher than that shown on the closing
statement, Escrowee shall have the option to either(a)deduct the shortfall from any of Seller funds held by
Escrowee; or(b)demand that Seller immediately pay the shortfall into this escrow, which Seller agrees to do.
Seller acknowledges that:
(1) the payoff figures on existing encumbrances may accrue daily Interest;
(2) existing encumbrances are not considered paid In full until sufficient payoff funds are
received by the party entitled thereto;
(3) Escrowee's payment of the encumbrance will Include Interest through the date of anticipated
receipt of funds by the party entitled thereto, plus such extra Interest as Escrowee deems
appropriate to ensure sufficient funds are delivered. Escrowee shall Instruct the party being
paid to promptly remit any excess funds directly to Seller; and
Page 2 or 8
i
First American Title Insurance Company File No,: 4266-2412441 (BJ)
Date: July 27, 2015
(4) Escrowee may transmit documents, payoffs, checks, letters and communications by regular
service through the U.S. Mail, private carrier, personal delivery, telephone, or wire or wireless
electronic transmission or transfer. If items are deposited in the U.S. Mail system a minimum
of five (5) working days before any deadline, Escrowee shall be relieved and discharged of
any and all liability, and the obligated principal shall indemnify Escrowee against any and all
claims resulting therefrom, and if additional funds are needed to satisfy these claims, the
obligated principal shall deposit same promptly.
F, Delivery of Documents and Funds hy6uver
Buyer has deposited with Escrowee the sum of$2,500.00, in U.S, funds as earnest money. Buyer(and/or
Buyer's lender) have or shall deliver to Escrowee such additional funds as are required to close the Transaction.
Buyer has or will deliver to Escrowee such documents as may be required of them to close the Transaction.
Escrowee shall disburse the funds when Escrowee; (a) has recorded the necessary conveying document and/or
such other documents as are required by the Transaction; and (b)can cause to be Issued a policy of title
Insurance as called for in the Purchase Agreement, and as may be required by the lender, insuring title in (if by
deed)or an interest in (if by contract), the named Buyer, free from encumbrance other than matters attaching
by, through or under the Buyer,and the following paragraph(s)as set forth in the Title Commitment: 4266-
2412441. The title Insurance policy shall contain those Insuring clauses, exceptions, exclusions, provisions and
stipulations customarily contained in the printed provisions of such policy or policies.
G. PawrrantofBuyerCharges
Buyer authorizes Escrowee to pay those charges and adjustments as itemized on the Closing Statement, which
Buyer signs contemporaneously with these instructions.
H. Chanaes to Closing Statement
Closing statements and closing disclosures are subject to final adjustment and audit, and may be amended to
reflect actual charges and adjustments at the time of closing. If any monetary error is discovered on a closing
statement or closing disclosure the party liable therefore will promptly pay Into escrow for disbursement such
amounts as may be necessary.
L Pro-Rat/ons
Pro-rations will be based on a 365-day year and will be calculated based on the date Transaction documents are
recorded. Taxes on real property will be pro-rated based on the latest available tax figures. Buyer and Seller
acknowledge that taxes may currently be assessed on land value only and that taxes for the current and prior
years may be later revised to include taxes on improvements constructed on the Property prior to closing. If,
after closing, such additional taxes are assessed, Buyer and Seller will promptly pay to the appropriate taxing
authority their respective share of said taxes pro-rated as of the date of closing.
J. Payment of Escrow Fee
Buyer shall pay one-half of Escrowee's escrow fee unless either: (a)this Transaction Is financed by the Federal
Housing Administration ("FHA")or the Department of Veterans Affairs ("VA"); or(b) the terms of the Purchase
Agreement Instruct otherwise. If the conditions described in either(a)or(b)above are present, Escrowee's fee
shall be paid according to FHA or VA regulations or the Purchase Agreement, Each party may pay one-half of the
scheduled escrow fee, but shall be entitled to any applicable filed discount offered by Escrowee or the title Insurer
Insuring the Transaction, which may result in one party paying a lower escrow fee than the other. In the event
the Seller's closing Instruction places a limitation on the Seller's payment of escrow or title fees, Buyer will be
Page 3 or 8
I
First American Title Insurance Company File No.: 4266-2412441 (BJ)
Date: July 27, 2015
responsible for the balance of the escrow and/or title fees as necessary to comply with state filed fees if
applicable.
GENERAL PROVISIONS
1. The value of fuel oil remaining on the Property is to be pro-rated and paid for outside of escrow between the
Buyer and Seller. Buyer and Seller acknowledge that Seller is responsible for the liens set forth in R.C,W
35,21,290; 35.67.200; 36.36.045; 36.89.065; 36.94.150; 57.08.081 or 87.03,445. In accordance with R.C.W.
60.80, Seller may request that Escrowee administer disbursement of closing funds necessary to satisfy the unpaid
charges set forth above. Escrowee is not liable if the Escrowee's refusal to comply is based on the Seller's
inaccurate or Incomplete Identification of utilities providing service to the Property or if a utility company fails to
provide an estimated or actual final billing, or written extension of the per diem rate or if disbursement of closing
funds necessary to satisfy unpaid charge would violate R,C.W. 18.44.070. A fee may be charged for performing
the services described In this paragraph.
2. Escrowee shall have no responsibility or liability regarding possession of the Property, the condition of the
Property, or the suitability of the Property for its Intended use.
3. Seller warrants that all homeowners association dues and/or assessments are paid to date and no
delinquencies exist, Buyer assumes responsibility for all subsequent dues and/or assessments.
4. Escrowee is authorized to: (a)fill in the date of close of escrow and such other necessary dates on any
documents which require same; and (b)correct any typing or scriveners errors on any documents delivered into
escrow. Date of closing means the date on which instruments are recorded. Escrowee is authorized to record
any Instrument delivered Into this escrow, if recording is necessary or proper for the issuance of policies of title
Insurance.
S. All disbursements shall be in U.S. funds and shall be by Escrowee's check, or by wire transfer. Escrow funds
will be placed In an escrow account which will pay no Interest to the depositor unless specifically requested and
all other preconditions to earning Interest are satisfied. All funds delivered into escrow are subject to Immediate
deposit, and all checks must clear and be credited to Escrowee's trust account as good and sufficient U.S. funds
before closing can be completed. Any delay in clearing deposits will delay closing.
6. In the event this escrow fails to close, a sum sufficient to pay title commitment and escrow cancellation
charges shall be paid, and as appropriate, may be deducted from funds held,
7. Compliance with ordinances, Including but not limited to city or county short plat(subdivision) ordinances are
the responsibility of Buyer and Seller and Escrowee shall have no responsibility therefore. Any and all charges for
building permits or assessed charges in connection therewith will he handled outside of escrow.
B. Upon their request, Escrowee may furnish a copy of these instructions, closing statements and/or any other
documents deposited in this escrow to the lender or lenders, the real estate broker or brokers and/or the attorney
or attorneys involved in this Transaction.
Page 4 of 8
First American Title Insurance Company File No.: 4266-2412,141 (BJ)
Date: July 27, 2015
9. Should any dispute arise between the parties, or any of them, and/or any other party, concerning the Property
or funds involved in the Transaction, or in the event conflicting demands or claims are made with respect to this
escrow or the rights of any of the parties hereto, it is expressly agreed that the Escrowee may, In its sole
discretion and at its election,do any or all of the following: (a) withhold and stop all further proceedings in
performance of this escrow; (b) hold all documents and funds in their existing status pending resolution of the
dispute; (c) issue a check to either Seller or Buyer, made payable Jointly to Seller and Buyer, in the amount of the
sums in dispute; or(d)join or commence a court action in interpleader, deposit the money and documents held
by it with the court, and ask the court to determine the respective rights of the parties. Upon depositing said
funds and documents with the court, Escrowee shall be immediately fully released and discharged and shall have
no further duties or responsibilities under these instructions or this escrow. The parties jointly and severally
agree to pay Escrowee's costs, expenses and reasonable attorney's fees incurred in any lawsuit arising out of or
in connection with the Transaction or these instructions, including but not limited to a suit in interpleader,
whether such lawsuit Is instituted by Escrowee, the parties, or any other person.
10. Any additional instructions given to Escrowee shall be presented In writing. Buyer and Seller acknowledge
that Escrowee may receive instructions from third parties(e.g., lenders, grantors, vendors, etc.) which are
necessary for the completion of this escrow and are, therefore, made a part hereof.
11.These escrow instructions, and amendments hereto, may be executed In one or more counterparts, each of
which Independently shall have the same effect as if it were the original, and all of which taken together shall
constitute one and the same instruction.
12.Title to equipment, fixtures, personal property or encumbrances or liens thereon or personal property tax or
sales tax associated therewith are not a part of this escrow and will be handled outside of escrow.
13. Buyer and Seller have been afforded adequate time and opportunity to read, understand and approve these
Instructions and all documents referred to herein.
14. Escrowee may destroy these instructions and all records of this escrow, regardless of date of same, at any
time after seven(7)years from the date of these instructions without liability and without need of further notice
to or from Buyer and Seller.
15. Internal Revenue Code Section 6109(h) Imposes requirements for furnishing, disclosing, and including
taxpayer Identification number in tax returns on the parties to a residential real estate transaction involving seller-
provided financing. Buyer and Seller understand that the disclosure reporting requirements are exclusive
obligations between the parties to this transaction and Escrowee is not obligated to transmit the taxpayer
Identification numbers to the Internal Revenue Service or to the parties, Escrowee is not rendering an opinion
concerning the effect of this law on the Transaction,and the parties are not acting on any statements made or
omitted by Escrowee or any of its employees or agents. To facilitate compliance with this law, Buyer and Seller
authorize Escrowee to release any party's taxpayer Identification number to any requesting party who Is a party
to this Transaction. The requesting party shall deliver a written request to Escrowee. Buyer and Seller waive all
rights of confidentiality regarding their respective taxpayer identification numbers and agree to hold Escrowee
harmless against any fees, costs, or judgments Incurred and/or awarded in connection with the release of
taxpayer identification numbers.
Page 5 of 8
First American Title Insurance Company File No.: 4266-2412441 (BJ)
Date: July 27, 2015
16, If any documents have been deposited with Escrowee which Escrowee Is being instructed to record but not
insure, the parties depositing the documents acknowledge and agree that Escrowee is recording these documents
as an accommodation and as a courier only,out of physical convenience, and that no title Insurance will be
issued or escrow services rendered In connection therewith. By accepting and recording these documents
Escrowee establishes no contractual or fiduciary responsibility with or to any parties and makes no
representations or guarantees as to the content, authenticity, validity, recordability or effectiveness of the
documents. Further, Escrowee makes no representations or guarantees as to the time,date or place of the
recording,and the depositing parties shall be responsible for all recording costs, taxes and fees related to said
documents. The depositing parties hereby indemnify Escrowee for any liability it may have, or be alleged to have,
related to said documents, which Indemnity Includes a duty of defense and payment for any costs and attorney's
fees incurred In defending or preparing to defend any claim or allegation of liability against Escrowee.
17. Buyer and Seller acknowledge that this transaction may be subject to various state and federal laws and
regulations dealing with lending practices, including, but not limited to, laws and regulations requiring lenders to
obtain proper licensing, Escrowee advises the parties to seek competent legal counsel to ensure compliance with
these laws and regulations. The parties represent, warrant and agree that: (a)they have complied with all such
laws and regulations; (b) Escrowee shall have no responsibility or liability regarding their compliance therewith;
and (c) they shall Indemnify and hold Escrowee harmless from and against any and all claims,demands,
damages, losses or costs(including attorneys' fees and costs of defense) incurred by Escrowee relating to such
laws and regulations,
ADDITIONAL INSTRUCTIONS:
Subject to the provisions of Paragraph No, 8 of the above GENERAL PROVISIONS,these Instructions shall expire
and become invalid upon the earlier to occur of(a)thirty(30) days from the date of the last signature of Buyer
and Seller below; or(b) the receipt by Escrowee from Buyer and/or Seller of a written revocation of these
Instructions /J
Dated the 3o day of , 20 I SF
SELLER:
City of Kent, a municipal corporation
/ W By: Suz tte Cooke, Mayor
Mailing Address: 220- 4th Ave. S., Kent,WA 98032
Dated the day of . 20_
BUYER:
Page 6 of a
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First Amerfcan Title Insurance Company File No.: 4266-2412441 (BJ)
Date: July 27,2015
Page 7 of 8
i
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First American Title Insurance Company File No,: 4266-2412441 (BJ)
Date: July 27, 2015
Eretz Capital LLC, a Washington limited
liability company
By: Daniel Birk, Manager
Mailing Address: 5175 S. Spencer Street, Seattle,WA 98188
II
Page B of 8
First American Title Insurance Company
FrslAmcdrnn 4707 8 19th Street,Ste 101•Tacoma,WA 98405
Office Phone:(253)752-3600 Office Fax:(866)506-1883
Seller's Estimated Settlement Statement
Property: 3536 South 252nd Street,Kent,WA 98032 File No: 4266-2412441
Officer: Bruce JudsonlBJ
Estimated Settlement Date: 0713112016
Disbursement Date:
Print Date: 07/27/2015,2:40 PM
Buyer: Eretz Capital LLC
Address: 5175 S.Spencer Street,Seattle,WA 98188
Seller: City of Kent,a municipal corporation
Address: 220-4th Ave.S.,Kent,WA 98032
Charge Description Seller Charge Seller Credit
Consideration:
Total Consideration 67 500.00
Commission:
Commission Paid at Settlement to Windermere Real Eatate/PBR,Inc. 1,350.00
Commission Paid at Settlement to Speny Van Ness/Raven 2,700.00
TitleXscrow Charges to:
Eacrow/C18sin Fee to First American Tille Insurance Com an $870.00 Sales Tax:$82S6 476.33
Policy:ALTA Owners-2006 STD to First American Title Insurance Company$423.00 Sales 463.61
Tax:$40.61
Cash(X To)( From)Seller 62,610.06
Totals 67.600.00 .7,Ann.00 '
Notice—This Estimated Settlement Statement is subject to changes,corrections or additions at the time
of final computation of Escrow Settlement Statement.
SELLER(S):
Cit of�emunicipalco) Orr 0
�J
Syz (te Cooke,Mayor AO
I
Initials: Page 1 of 1
I
�, •ur.,,, FirstAmerican 77t/e Insurance Company
F1rst American
4707 S 19th Street,Ste 101 j
Tacoma,WA 98105
Phn- (253)752-3600
Fax- (866)506-1883
escrow.northtacoma.wa@firstam.com
To: First American Title Insurance Company Date: July 27, 2015
Escrow Officer: Bruce Judson File No.: 4266-2412441 (BJ)
Re: 3536 South 252nd Street, Kent,WA 98032
Please indicate beiowfthe manner in which you wish to receive proceeds due you , if any, after closing:
❑ Hold check for pick-up-Phone ( ) ❑ Mail check to Forwarding Address Below
:k* ❑ Wire proceeds to Bank As Shown Below ❑ Overnight Mail to Forwarding Address below
Please ba awaro that lfyou elect to have your proceeds wired,
your bank may charge a fee for accepting the electronic transfer
Bank Name: Forwarding Address:
Address:
Name on Acct:
Account No.:
Routing No.: (for14765)
Phone No.: ( )
Phone: ( )
Type of Account: ❑ Checking ❑ Savings
IF YOU CHOOSE TO HAVE FUNDS WIRED YOU ARE SUBJECT TO A WIRE CUT OFF TIME OF P.M.
AND YOU MAY INCUR CHARGES BY YOUR BANK. WE MUST HAVE RECORDING NUMBERS IN ORDER TO SEND OUT A WIRE. IF
WE DO NOT HAVE THOSE TWO ITEMS FUNDS WILL BE WIRED THE FOLLOWING BUSINESS DAY.
Initials: Please initial
Any further instructions:
SELLER(S):
City of Kent, a municipal corporation 40
By: Suze a Cooke, Mayor
�-
AFTER RECORDING MAIL TO:
Eretz Capital LLC
5175 S. Spencer Street
Seattle, WA 98188
Filed for Record at Request of: sFmmemwMIsusefwRa deausew,y
First American Title Insurance Company
STATUTORY WARRANTY DEED
File No: 4266-2412441 (BJ) Date: July 27, 2015
Grantor(s): City of Kent,a municipal corporation
Grantee(s): Eretz Capital LLC
Abbreviated Legal: PTN SEC 22 TWP 22N RGE 4E NW QTR SW QTR,KING COUNTY
Additional Legal on page: 3
Assessor's Tax Parcel No(s): 222204911101
THE GRANTOR(S)CITY OF KENT, A MUNICIPAL CORPORATION OF THE STATE OF
In WASHINGTON for and consideration of Ten Dollars and other Good and Valuable
n
Consideration, In hand paid, conveys, and warrants to Eretz Capital LLC, a Washington
limited liability company, 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:
See attached Exhibit"A"
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.
City of Kent, a municipal corporation 4"
B , Su tte Cooke, Mayor
Page 1 of 2 LPe 10-05
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APN: 222204911101 Statutory Warranty Deed File No.:4266-2412441(51)
-contlnued
STATE OF Washington )
)-SS
COUNTY OF King )
I certify that I know or have satisfactory evidence that Suzette Cooke, 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 Mayor of City of Kent, a municipal corporation to be the free and voluntary act of such
party(ies)for the uses and purposes mentioned in this instrument.
Dated: ® �
Notary Public in and for the State of Washington
Residing at:
My appointment expires:
Page 2 of 2 LPB 10-05
I
EXHIBIT A
LEGAL DESCRIPTION: Real property in the County of King, State of Washington, described as
follows:
THAT PORTION OF THE NORTHWEST QUARTER OF THE SOUTHWEST QUARTER OF
SECTION 22,TOWNSHIP 22 NORTH, RANGE 4 EAST,W.M.,IN KING COUNTY
WASHINGTON, DESCRIBED AS FOLLOWS:
COMMENCING AT THE INTERSECTION OF THE WEST LINE OF MILITARY ROAD(36TH
AVENUE SOUTH) AND THE SOUTH LINE OF THE NORTH ONE-HALF OF THE SOUTHWEST
QUARTER OF SAID SECTION,
TOWNSHIP AND RANGE;
THENCE WESTERLY ALONG SAID SOUTH LINE A DISTANCE OF 200 FEET TO THE TRUE
POINT OF BEGINNING;
THENCE CONTINUING WESTERLY ALONG SAID SOUTH LINE 70 FEET;
THENCE NORTHERLY PARALLEL TO AND 270 FEET FROM THE WEST LINE OF MILITARY
ROAD A DISTANCE OF 130 FEET,
THENCE EASTERLY, PARALLEL TO AND 130 FEET NORTH OF THE SOUTH LINE OF THE
SAID NORTH ONE-HALF OF THE SAID SOUTHWEST QUARTER OF SAID SECTION,
TOWNSHIP AND RANGE,A
DISTANCE OF 70 FEET,
THENCE SOUTHERLY A DISTANCE OF 130 FEET TO THE TRUE POINT OF BEGINNING.
Tax Parcel ID No. 222204911101
III
i
Revenue
weebmgtmstese REAL ESTATE EXCISE TAX AFFIDAVIT "is 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
(Sao hack of lust Imitator instructions)
❑ Check box ifpartial sale ofpropaty if multiple owners,list percentage ofownership ncxtto name.
Name:HE STAT CITY OF KENT,A MUNICIPAL CORPORATION Name: Eretr Capital LLC,a Washington limited liability
OF TE OF WASHINGTON company
Mailing Address 220-4th Ave,S. m Mailing Address 5175 S.Spencer Street
h ClrylsmoNzip Kent,WA 98032 a City/SmtdZip Seattle WA 98186
Phone No.(Including area code) iPhone No.(including area Cade)
SeMdiprvpsdytalaane'NNaeeb: ❑X Sam:esnuyerlGnnlee List sit Nat and persoaalpmps*ens parcel A,eAunl Listasscvedvaluq's)
r umbra<brck box ifpersaml p epnty,
Name 222204911101 0.00
Meiling Address
City/smanizip
Phone No.(including arm code) 1457
Stactaddrms ofpropeey: 3536 South 252nd Street Kent.WA 98032
Tlda property is located in Kent
❑ Chwkboxifmyofthelisledparcelsarebeingsegregatcdfmmwotberpamcl,orepartofaboundarylinoadiws mtorparcelsheingme ed
Legal description of finepany(if more space is needed,you may attach a sepamteshoet to mat page of the affidavit)
See attached Exhibit"A"
Select Lend Use Cade s List all personal property(langihle and intangible)Included in selling
93 price.
enter any oddilional codes:
(See back of last page of instructions) YES NO
Was the seller receiving a property to a4mptlon or deferral ❑ ❑X
under chapters 84.36,84,37,or 94.39 RCW(nonprofit
orgauinrion,senior chaun,or disabled person,homeowner with
limited incame)7
YES NO If claiming an exemption,list WAC number mad reason for exemption:
is this property designeled as forest land per chapter 84.33 RCW?❑ ❑-X
Is this property doofied As torrent at(qua space,farm and ❑ 0 WAC No.(SecthnVSubscc(kmI 458-61 -205
egricultmal,o,limber)land per Chapter 84.34 RCW?
Is this peapedly recciving special valuation as historical property ❑ ® Reasonforexemplion Goyenment Transfers
pachapter84.26 RCW?
If Any otswos are yes,complete As W Wclal below.
(1)NOTICE OF CONTINUANCE(FOREST LAND OR CURRENT USE) Type of Dicwaenl Statutory Warranty Deed
NEW OWNER(S): To continue the curtest designation As forest land or
classifcetlon as".(as.(open space,farm And egdiWums.or timber)land,you Datcof Document July 27,2015
owl sign on(3)below. The county assessor most than determine if Us,load Cross Belting Price 3 67,500.00
hansfterred continua to qualify,And will indicate by signing below. If the land no
longer qualifim or you do not wish to continue the designation or classification,it 'Personal Property(deduct) S
will be removed and the compensating or additional taxer will be due and payable Exemption Claimed(doducl) S 67,,500.00
by the seller or trensfemr at the time of sale. (RCW 84.33.140 or RCW Taxable Selling Price S 00.00
84.34.108), Prior to signing(3)bdow,you may contact your local county assessor
fbrmore information. Excise Tax: Stale S 00.00
This land ❑ does ❑ does not qualify for eamlnuanca Local S 00.00
-D<bnquandl teresl: State $
DEPUTY ASSESSOR DATE local $
(2)NOTICE OF COMPLIANCE(HISTORIC PROPERTY) °Delinquent Penalty S
NEW OWNER(S):To continue special valuation As historic property,110(3) Subloml S
below. If We new Asmara)does not wish to continue,all additional tax Calculated
pursuant to chapter 8 and 4,26 RCW,shall be due payable by the seller or transferor sStale Tenhnology Fee S 5.00
at the time oLalo eAlfndavrt Processing Fee S 5100
(3)OWNER(S)SIGNATURE Tmal" dryly 10.00
PRINT NAME
r ��& Vlf e"(S)AND/OR TAX
Mff I CERTIFY UPIOER PENALTY OFPERJURY :a..s itarr♦♦♦ TRUE AND CORRECT. j
5lgnamrs of
Grantor err Gmnlor'e Agent Grantee or Oramce's Agcnt
Name(print) Name(print)
Data&city ofsigning: Tacoma Date&city ofsigning: Tarma
Perjury: Perjury is a class C felony which Is punishable by imprisonment in(he side 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(S5,000.00),or by both Imprisonment and Me(RCW 9A.20.020(1 C)).
I
REV 114 0001a(06114) THIS SPACE-TREASURER'S USE ONLY COUNTY TREASURER
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EXHIBIT A
LEGAL DESCRIPTION: Real property in the County of King, State of Washington,described as
follows:
THAT PORTION OF THE NORTHWEST QUARTER OF THE SOUTHWEST QUARTER OF
SECTION 22,TOWNSHIP 22 NORTH, RANGE 4 EAST, W.M.,IN KING COUNTY
WASHINGTON, DESCRIBED AS FOLLOWS:
COMMENCING AT THE INTERSECTION OF THE WEST LINE OF MILITARY ROAD (36TH
AVENUE SOUTH) AND THE SOUTH LINE OF THE NORTH ONE-HALF OF THE SOUTHWEST
QUARTER OF SAID SECTION,
TOWNSHIP AND RANGE;
THENCE WESTERLY ALONG SAID SOUTH LINE A DISTANCE OF 200 FEET TO THE TRUE
POINT OF BEGINNING;
THENCE CONTINUING WESTERLY ALONG SAID SOUTH LINE 70 FEET;
THENCE NORTHERLY PARALLEL TO AND 270 FEET FROM THE WEST LINE OF MILITARY
ROAD A DISTANCE OF 130 FEET;
THENCE EASTERLY, PARALLEL TO AND 130 FEET NORTH OF THE SOUTH LINE OF THE
SAID NORTH ONE-HALF OF THE SAID SOUTHWEST QUARTER OF SAID SECTION,
TOWNSHIP AND RANGE,A
DISTANCE OF 70 FEET,
THENCE SOUTHERLY A DISTANCE OF 130 FEET TO THE TRUE POINT OF BEGINNING.
Tax Parcel ID.No, 222204911101
Koinoto, Kim
From: Judson, Bruce E. <BJudson@firstam.com>
Sent: Monday,July 27, 2015 4:29 PM
To: Komoto, Kim
Cc: Jason Wilcox Qwilcox@svn.com)
Subject: City of Kent- Eretz Capital
Attachments: seller.pdf;ATT00001.txt
Kim;
I have attached hereto copies of seller closing documents for your review and comments. if acceptable, please print
them, have them signed by the Suzette, notarized and returned to me for closing. Please give me a call, or send me an
email, with any questions that you may have.
Thank you for again allowing First American to be of service!
i
Bruce E.Judson
Sr.Escrow Officer/LPO
Commercial Escrow
Team Commercial Pierce
First American Title
4707 S 19th St#101,Tacoma,WA 98405
Direct: 253-292-4319
Main:253-752-3600
Fax:866-506-1883
Cell: 253-753-6527 -
Email:teamcommercialpierce@firstam.com
Email loan documents to: escrow.northtacoma.wa@firstam.com
First American
A member of the First American Financial Corporation
family of companies NYSE: FAF
t II