HomeMy WebLinkAboutACQ2019-004 - Other - Puget Sound Energy, Inc. - 1st Addendum Earnest Money Provision - Willis-Naden Access Improvements Project - 07/03/2019 KEOT Records Management Document
CONTRACT COVER SHEET
This is to be completed by the Contract Manager prior to submission
to the City Clerk's Office. All portions are to be completed.
If you have questions, please contact the City Clerk's Office at 253-856-5725.
Vendor Name:
Puget Sound Energy, Inc.
Vendor Number (JDE):
Contract Number (City Clerk): AW 2019-OOL4
Category: _Purchase and Sale Agreement
Sub-Category (if applicable): Addendum
Project Name: Willis-Naden Access Improvements Project
Contract Execution Date: 7/3/19 Termination Date: N/A
Cheryl Rolcik-Wilcox PW: Engineering
Contract Manager: Department: g g
Contract Amount: N/A
Budgeted: F1 Grant?
Part of NEW Budget: Local: State: Federal:
Related to a New Position:
Basis for Selection of Contractor? Other
Approval Authority: 11 Director ❑✓ Mayor City Council
Other Details: Project No. 15-3015/File No. PW2015-08/Project Acct No #20070 _
Addendum to extend the closing date from 7/7/19 to 7/23/19
ADDENDUM TO REAL ESTATE PURCHASE AND SALE AGREEMENT
WITH EARNEST MONEY PROVISION I
i
I
This Addendum to the Real Estate Purchase and Sale Agreement with Earnest
Money Provision ("Addendum") is between the CITY OF KENT, a Washington
municipal corporation ("Buyer"), and PUGET SOUND ENERGY, INC., a Washington
corporation ("Seller"), amending that Real Estate Purchase and Sale Agreement with
Earnest Money Provision dated May 8, 2019 (the "Agreement").
RECITALS
A. Pursuant to Section 5 of the Agreement, the Agreement is contingent
upon the Buyer and Seller authorizations set forth in Sections 18 and 19 of the
Agreement. The Kent City Council authorized the purchase of the Property on
February 5, 2019, as required by Section 18.
B. Section 13 of the Agreement grants a right of entry upon the Property
to Buyer for a period of sixty days after the execution date of the Agreement
("Feasibility Review Period") to perform environmental audits, soil testing,
engineering, economic studies and other studies necessary.
C. Pursuant to Section 9 of the Agreement, the Sale contemplated by the
Agreement is to close within sixty days after the execution date of the Agreement
(the "Closing"), unless Closing is extended in writing by mutual agreement of the
parties.
D. Because the end of the Feasibility Review Period and the date of the
Closing are the same day, Buyer and Seller desire to extend the Closing until July 23,
2019, to allow Buyer time to deposit funds into escrow and for Seller to execute
instruments required to complete the transaction.
NOW THEREFORE, Buyer and Seller agree as follows:
1. The Closing Date of the Agreement shall be extended from July 7, 2019,
to July 23, 2019.
2. Except as amended by this Addendum, all provisions of the Agreement
shall remain in full force and effect.
Addendum to Purchase and Sale Agreement Page 1
IN WITNESS WHEREOF, the parties hereto have executed this Agreement,
which shall take effect on the last date signed below, or July 6, 2019, whichever is
sooner.
BUYER:
CITY OF KENT
By:L
Name: Dana Ralp3Nh
Its: Mayor
Date: 7 //9
SELLER:
PUGET SOUND ENERGY
By:
Name:
Its: C_
Date:
i
Addendum to Purchase and Sale Agreement Page 2
KENT REQUEST FOR MAYOR'S SIGNATURE
Routing Information:
(ALL REQUESTS MUST FIRST BE ROUTED THROUGH THE LAW DEPARTMENT)
Approved by Director
Originator: Cheryl Rolclk-Wilcox Phone (Originator): x5587
Date Sent: 7/3/2019 Date Required: 7/5/2019
Return Signed Document to: Cheryl Rolcik-Wilcox Contract Termination Date: N/A
VENDOR NAME: Date Finance Notified:
Puget Sound Energy, Inc. (Only required on contracts 2/5/20 19
20 000 and over or on any Grant
DATE OF COUNCIL APPROVAL: 2/5/2019 Date Risk Manager Notified:2 5 2019
(Required on Non-City Standard Contracts/Agreements)
Has this Document been Specificall Account Number: R2OO7O 15-3015
Authorized in the Budget? • YES NO
Brief Explanation of Document:
Addendum to Real Estate Purchase and Sale Agreement with Earnest Money Provision
to extend the closing date from 7/7/2019 to 7/23/2019 for the City's purchase of
property from Puget Sound Energy for purposes of access improvements for the
Willis-Naden property for $200,000. Both Buyer and Seller would like to extend the
closing date because the closing date and the date the feasibility period ends are the
same day, and the parties each need additional-time to process closing paperwork.
This extension was also recommended by the Title Company.
All Contracts Must Be Routed Through The Law Department
(This area to be completed by the Law Department)
Received: 7/3h�
Approval of Law Dept.:
Law Dept. Comments:
Date Forwarded to Mayor: 7 3
Shaded Areas To Be Completed By Administration Staff
Received:
Recommendations and Comments:
Disposition:
Date Returned:
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