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HomeMy WebLinkAboutPW17-082 - Supplement - Michael Barber - Title Records - Michael Barber Signature - 04/12/2017 Pamier Title,Li_C-Kent 2Q4;5 72nd Ave S Dtdg.3.Ste 155 RAINIERTITLE ALKane NG 93032 TA!Da 083ri45 ,253,216-0240 (Pt +425r329-2194(Fi 're^tes.r,•,;.�raimerit.e�Gm. GISC!.!�SURES_TO THE f?!iR i IES liNl7F,P,p,PF.12 April 7,2017 Re Esr_ro;v Numbe,. -0182?R I Seiler Malthe;;R Barter Purchaser. City of Kent.A Wasnin on Munici a-Cor„ 9' P -,oration Property Address 27246 Green River Road S. Ke-nt,WA 98030 THIS NOTICE IS GIVEN IN COMPLIANCE WITH LIMITED PRACTICE RULE FOP,LIMITED PRACTICE OFFICERS,KNOWN AS ADMISSION TO PRACTICE RULE 12 OR APR 12 PROMULGATED BY ORDER OF THE SUPREME COURT OF THE STATE OF WASHINGTON in connection with the above transaction i,Julie Mills,an employee of Rainier Tide,I.LC.a lay person and not an attorney or lawyer, incident to ed Practice theClosing of Officer main steal sae and personal propertder APR 12 and tcensea ytransactionsy to select,p�pare and complete resin types v legal documents 1 Agreement of the Parties I understand the� ursuant to said APP, t 2 you are advised as follows g Imitten agreement delivered to Rainier Title,LLC for Ciosutg contains the basic terms and conditions Of the transaction and all the Parties to the transaction have agreed the;eto in writing. 2 Disclosure of the Parties The scope of the service I am authonzetl to render to the parties pursuant to APR 12 is limited to the selection preparation and completion of documents in a form previously approved by the Limited Practice Hoard created by said APR 12 for use in closing a loan extension of credit sale or other transfer of real or personal property The parties are funher advised a) I am not acting as the advocate or representative of either Or any of the parties b; The Fad Tong documents will be se:'ected.Prepared or completed by me ano w;It affect the legal r:ghts of the parties LPp approved forms as identified in the Purchase and Sale Agreement andtor Lender:nstructior s. C) The parties,interest in the documents may differ d) The parties have a right tc be represented oy lawyers of their own selection,and er i cannot give any legal advice as to the manner in which the documents may affect the parties J Advice to Consult Counsel_If any of the parties has any question whatsoever regarding such documents or instruments or what affect they may have upon his.her,their or its rights and interest such party should consult an attorney or lawyer of such party's choice because neither i nor Rainier Title,LLC may lawfully advise any of the parties Julie Mills,LPO 9 2917 i have received and read a copy of the Disclosure anc unde,sand its contents. Purchaser: City of Kent 6y Suzette Cooke a's A4ayor Seller..._- -- L1attHe-rR 8'arbe: — —--- EXHIBIT"A" Escrow File No.: 701823RT Buyer(s). City of Kent,A Washington Municipal Corporation Seller(s): Matthew R. Barber LIMITED PRACTICE BOARD FORMS SECTION 1: MORTGAGE LENDING DOCUMENTS All documents approved and designed for use by the Secondary Mortgage Market. including Notes. deeds of trust and riders- The Secondary Mortgage Market is defined as federally related institutions such as FNMA. FHLM and GNMA except Regulation"Z". SECTION 2: ESCROW DOCUMENTS —X_ LPB No. 10 Statutory Warranty Deed LPB No, 11 Statutory Warranty Deed(Fulfillment of REC LPB No. 12 Quit Claim Deed LPB No 13 Deed and Seller Assignment of Contract LPB No. 14 Deed and Purchasers Assignment of Contract LPB No 15 Bargain and Sale Deed LPB No 16 Special Warranty Deed LPB No. 20 Deed of Trust(Short Form) LPB No. 21 Assignment of Deed of Trust LPB No, 22 Deed of Trust LPB No.22A Deed of Trust(with due on sate) LPB No.23 Request for Full Reconveyance LPB No.24 Request for Partial Reconveyance LPB No 28A Promissory Note- LPS No 29 Request for Notice LPB No.30 Bill of Sate LPB No, 35 Subordination Agreement LPB No 44 Real Estate Contract(Residential Short Form) LPB No 45 Real Estate Contract(Long Form) LPB No 50 Mortgage LPB No 51 Satisfaction of Mortgage LPB No. 52 Partial Release of Mortgage LPB No 60 Satisfaction,of Lien LPB No.61 Partial Release of Lien LPB No 62 Satisfaction.of Judgment LPB No.63 Partial Release of Judgment LPB No. 64 Waiver of Lien LPB No 65 Partial Waiver o`Lier. LPB No. 70 Special Power of Attorney(Sale) LPB No 71 Special Power of Attorney(Purchase/Encum LPB No 72 Use Tax Form LPB No 73 Personal Property Security Agreement SECTION 3: U.C.C. FORMS All U C C filing forms accepted by Washington State Department of Licensing SECTION 4_ —X— Excise Tax Affidavit Forms Department of Licensing Forms Auditor's Cover Sheet. Internally approved Security Agreement Forms SECTION 5: FARMERS HOME ADMINISTRATION FORMS All documents approved and designated for use by the United States Department of Agriculture Farmers Home Administration in connection with closing an FMHA loan on residential property INITIALS: Rainier Dille.ut.0-Kent 20435 72nd Ave S. Bldg 3,Ste 155 Kent v%,A 98032 RAINIERTiTLE ALTAiD»1033645 253115-024C tP; i425.3 9-?r 94 F 1 kcr.:escrow�rainen,itc om Escrow File No.: 701823RT Purchasers(s): City of Kent A Washington Municipal Corporation Sellerfs): Matthew,R Barber CLOSING AGREEMENT AND ESCROW INSTRUCTIONS For Purchase and Sale Transaction The undersigned buyer and seller (referred to herein as the parties) hereby designate and appoint Rainier Title.LLC (referred to herein as the closing agent'l to act as their closing and escrow, agent accordmo to the following agreements and instructnns IT IS AGREED,AND THE CLOSING AGENT IS INSTRUCTED.AS FOLLOWS: Terms of Sale. The terms and conditions of the transaction which is the subject of these instructions (referred to herein as the transaction') are set forth in the parties' Purchase and Sale Agreement,Earnest Money Agreement or other written agreement.and any attachments.amendments or addenda to that agreement(referred to herein as the parties'agreement'),which is made a par of these instructions by this reference It the Purchase and Sale Agreement provides that a cornm!sson is due at Closing,the Company wilt require payment of the commission according to the brokers demard.which will be furnished at the closing agents request Any changes to the parties agreement will be made a pat of these instructons. without further reference. when signed by the parties and delivered to the closing agent These instructions are not intended fo amend mod;fy or supersede the terms and conditions of the parties'agreement and if there is any conflict or inconsistency between these instructions and tt e parties agreement.the terms and conditions of the parties agreement shall Control. Description of Real Property. The real propertv•vh!ch is the subject of the transacton,referred to herein as 'the property; is identified in the part,es agreement The documents required to close the transaction must contain the 'legal description of the property if the parties agreement does not yet contain the correct legal description the parties or the real estate agent should obtain an addendum setting forth the legal description as soon as possible and deliver!t to the cios,ng agent Closing Date. Unless otherwise described in the parties agreement the closing date shall be Considered to be the date or which the legal documents are recorded and the funds are available for disbursement Documents. The closing agent is instructed to select. prepare, complete correct, receive. hold, record and deliver documents as necessary to close the transaction. The dosing agent may request that certain documents be prepared or obtained by the parties or their attorneys,in which case the parties shall deliver the requested documents to the closing agent before the closing date. Execution of any document well be considered approval of its form and content by each party signing such document Deposits and Disbursements of Funds. Before the dosing date.each party shai!deposit with the closing agent all furds required to be paid by such party to close the transaction, less any earnest money previously deposited w;th the reai estate agent The closing agent is authorized but not required, to consider a lending institutions written commitment to deposit funds as the equivalent of a deposit of such funds, if all conditions of the commitment will be met on or before the closing date Ail funds deposited with the closing agent shah,be deposited in an escrow truss accoun-with a bank doing business in the State of Washington. The parties hereby acknowledge that exceot as provided by Supreme Court Admission to Practice Rule 12 1 and 12.1 h) adopted in 193 the money deposited With closing agent by them in cornectior• w!th this escrow will be further deposited into A nor.-interest bearing account with a financial n;tiiution ('the funds depository;whose deposits are covered by FDIC insurance. The pa ties further acknowledge that in calculating the amount of available irsurance. the FDIC will consolidate moneys deposr•--ei- ❑niter Pace i of 8 this escrow with all other funds of the undersigned which are on deposit with the funds depository. The Parties do therefore release nosing agent from any Inability and assume all responsibility for any loss to themselves which may result from a lack of FDiC insurance in excess of $250,000.00 The parties acknowieage that the Dosing Agent may receive incidental benefits from the financial institution.based on the existence of its escrow trust account deposits The closing agent shall rot be required to disburse any funds deposited by check or draft until it has been advised by its bank that such check or draft has been honored RCW 18 44 070 provides:hat an escrow agent shall rot make disbursements until the text business day after the business day on which the funds are deposited unless the deposit is made in cash,by interbank electronic wire:ransfer,or in a form that permits corversion of the deposit to cash on the same day the deposit is made. All disbursements shall be made by the closing agents check or. if the payee so instructs in writing. by electronic wire transfer. Settlement Statement. The closing agent is instructed to prepare a preliminary estimated settlement statement showing all funds deposited for the account of each of the parties and me oroposed disbursements from such funds No funds shall be disbursed until the parties have examined and approved the settlement statement Some items may be estimated. and the final amount of each estimated item will be ao;usted to the exact amount required to be paid at the time of disbursement The settlement statement will be sub;ect to audit and anv errors or omissions may be corrected at any time If any monetary error is fccno the amount will be immediately paid by the party liable for suc�payment to the party entitled to race ve it Pro-rations. Ad;ustments or pro-rations of real estate taxes and other charges it any which appear on the Title Report. shall be made on the basis of a 365 day year unless the closing agent is otherwise instructed in wnting. Title Insurance. The closing agent shall order or obtain copies and rorwaro to the parties as applicable, a Preliminary commitment for the Title Insurance on the property (referred to herei i as the title report"). together w•th copies of the exceptiors noted thereon. The parties shall be responsible to review these items for accuracy.a verification or the legal description and to determine their acceptabilit for purposes of closing. y Verification of Existing Encumbrances. The closing agent is permitted to request a written statement from the holder of each existing ercumbrarce on the property verifying its status. terms. balance owing and, if it will not be removed at closing, the requirements that must be met is obtain a waiver of any due-on-sale provision. The closing agent is authorized to rely upon such wr:tter statements in the performance of its duties without hability or responsibility for their accuracy or completeness The Closing Agent may further rely upon any verbal update to a written payoff statement provided by an existing lender and the borrower agrees to indemnify Closing Agent for payoff amounts which may be regarded as incomplete or inaccurate by the ender upon receipt Disclosure of Information to Third Parties. The closing agent is authorized to furnish upon request. copies of any closing documents. agreements or nstructioris concerning the transaction to the parties designated attorneys, and to their real estate agent the designated lender. [oar:broker and title insurance company involved in the transaction Records Retention. Unless otherwise prescribed by law the closing agent may destroy after six (6) years from the closing date hereof. these and records. agreements and instruments relating to the closing of this transaction, including at! documentation and accounting reformation, excluding however, any and all loan documents Closing Agent's Fees and Expenses. The closing agent's fee is intended as compensation for the usual closing services as set forth in these instructions If additional services are requested or required to comply with any change or addition to the parties agreement or these instructions or as a result of any party s assignment of interest or de!ay in performance, the parties agree to pay a reasonable additional fee for such services. The parties shad also reimburse the closing agent for any out-o�-pocket costs and expenses incurrec by it under these instructions, including but not limited to excessive fax costs,electronic wire transfer costs and courier fees. Cancellation. These instructions may be canceled by a written agreement, signed by all of the parties and payment of the closing agent's°ees. costs and expenses. Upor, receipt of such agreement and payment, the ciosirg agent shall return any money or documents then neld by to the parties that deposited the same.ano shall have no further duties or responsibilities under these instructions Page 2 of 6 friability to Comply With Instructions. If the closing agent receives conflicting irstruchons or determines;for any reason that it cannot comply with these instructions by the date for closing specified in the parties agreement or in any written extension of that date, t snail notify the parties, request further instructions. and in its discretion (1)continue to perform its duties and close the transaction as soon as possible after receiving further instructions. or 2t if no conflicting instructions have been received return any money or documents then held by it to the parties that deposited the same, less any fees and expenses chargeable tc such party or 3)commence a court action deposit the money and documents held by it into the registry of the court.and ask the court to determine the rights of the parties When the money and documents have been returned to the parties or deposited into the registry of the court, the Closing agent shall have no further duties or responsibilities under these instructions Disputes_ Should any dispute arise between the parties,or any of them,andlor any other party concerning the property or funds'nvolved in the transaction the closing agent may, at its sole drscret:on. hold all documents and funds to their existing status wending resolution of the dispute. or join or commence a court action deposit the money and documents held by!t with.he coup.and ask the court to determine the rights of the parties. Upon depositing said furds and documents with the court the closing agent shall have no further duties or responsibi it:es under these instructions The parties jointly and severally agree to pay the closing agents costs.expenses and reasonable attorneys fees incurred in any lawsuit arising out of or�n connection with the transaction or these instructions. whether such lawsuit is instituted by the closing agent.the parties or any other person. Notices. Any notice, declaration or request made under these instructions shall be rr writing. signed by the party giving such notice or makirg such declaration or request_and personally delivered or mailed to the closing agent and other parties. Amendments. Any amendrn ent addition or supplement to these instructions must be in writing. signed by the appropriate parties and delivered to the closing agent Counterparts. These instructions may be executed in one or more counterparts with ;ke effect as if all signatures appeared on one copy MATTERS TO BE COMPLETED BY THE BUYER AND SELLER IMPORTANT-READ CAREFULLY The following items must be completed by the parties,outside of escrow,and are not part of the closing agents'duties under these instructions. Inspection and Approval of the Property. Any required inspections or approvals of the property or of improvements. additions or epairs to the property will be arranged and completed by the parties. outside of escrow T^e closing agent shall have no liability with respect to the phys:cat conditor of the Property,or any buildings. improvements,plumbing, heating,cooling,electrical, septic or other systems on the propertv and no responsibility to inspect the property,or to otherwise determine its physical.ondition. or to determine whether any required improvements. additions er repairs have been satisfactorily completed Undisclosed Sewer Charges. Buyer and seller acknowledge that the subject property may be located within one of those participating cities or sewer districts which have entered into a special contractual relationship with the Metro Council which may allow,Metro to levy a fee or charge an additional service fee. Buyer and Seller agree that any adjustment snail be handled outside of closing anc Escrow Closer shall be held harm iess with respect to any such.capacity charge Real Estate Disclosure. A Residentia! Real Estate Sales Disclosure may be required to be furnished by the seller to the buyer before the closing of the sale of subject property in accordance with Title 64 RCW. enacted 1994 and as amended Escrow Closer has not advised either party as to the scope of such disclosure or the parties'rights or duties thereunder,but has advised both parties to review these matters with their real estate agent or an attorney of their cnoice Escrow Closer is hereby assured by the buyer that any drelosure required including any disclosure relative to Farm and Timber Asbestos or Lead Base Paint. has been received and the appropriate time has expired and Escrow Closer has no duty to uncependertly confirm such receipt and time expiration by buyer Personal Property. Any required inspections.approvals or transfers of possessror of anv owned or teased fixures,equipment or ether items of personal property included in the transaction.and payment of any personal property sales or use taxes,vwril be completed by the parties outside of escrow. Unless otherwise irstrucled in writing,the closing agent shall have no responsibility with respect to such personal property and shall not be requireo to determine the status r condition of the title to encumbrances upor„ Pa:i e3oto ownership, or physical condition of such personal property nor to calculate, pro-rate, collect. prepare returns for or pay any personal property tax.sales tax or use tax arising from the transacron Utilities. If the Purchase and Sale Agreement lists the names and addresses of public uti6Ues which could claim a lien. the Closing Agent shad request statements for payment of final or estimated billings and is instructed to pay the amounts demander by such designated public utilities In the event suc°i designated public utilities do not provide the payment information within, the time allowances Prescribed by law. Closing Agent shall have no further responsibility to the parties for the payment of said utilities. and shall not be required to oav them, and seller agrees to discharge said utilities outside of escrow All other orders.cancellations transfers,payments and adjustment of accounts for Installation or service of water, sewer, garbage collection electricity. gas, fuel oil telephone, television cable and any other utilities for public services. including installation fees, will be completed by the parties outside of escrow Unless specificaliy instructed in writing by one �r more part es in accordance with State of waterWash.sewer Rgar 60.80, all orders: canceftat ons transfers. payments and adjustments of accounts for water: sewer garbage coilection. electric,ty. gas. FUEL OiL telephone, television cable anc any other utlites or public services will be completed by the parties outside of escrow Unless otherwise instructed. the closing agent shaf nave no responsibility to determine, collect. pay, pro-rate or adjust c"arges for installation or service for any utilities or public services,except to pro- rate existing recurrent assessments for public improvements if any,which may appear on the ti;e report Fire or Casualty Insurance. it a new•Policy of fire hazard or casualty rnsu'ance on the property is necessary to close the transaction the buyer will arrange for the policy to be issued and will provide evidence of the requiree insurance coverage to the closing agent before the closing date. toge:her vrtn a paid premium receiFt or an authorization to pay the premium,through escrow Possession of the Property. The transfer of Possession of the property shall be arranged between the parties or,hrough their respective real estate agents,outside of escrow,and shall not be the responsibility of the closirg agent Collection Account. if any financing for the transaction will oe provided by a private partv the parties are advised to open a collection account at a`financial institution to receive and disburse,rayrnents to be made under the private promissory note Or contract. The collection account shall oe established by the parties outside of escrow and shall not be the responsibilav of the closrg agent 1099-S Reporting of Sellers Proceeds. In compliance with the Tax Reform Act of 1986 Internal Revenue Code Sections 6045(e 6676 6722 6723. and 7 03 and as further amended, seller shall provide all information necessary rnciuding Sellers Taxpayer Identification Number TIN!, for the preparation of a Form 1099-S as required by the Internal Revenue Service:n connection with t"e closing and completion of the transaction Closing agent reserves the right not to dose the escro,v It adequate information to complete Form 1099-5 is not pros#ded by the seller Foreign Investment in Real Property Tax Act. If any seller is.or may be. a non-resident alien or a 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 tg determine their responsibilities and liabilities if any, under the Foreign Investment in Real Property Tax Act i_Section 1445 et seq of the Internal Revenue Codej_ The closing agent is not required to verify the rationality or foreign status of any of the sellers or to withhold.report or pay any ar-:ounts due under such act unless directed by the parties in writing. However the closing agent may request additional information or documentation concerning sellers foreign status, and the parties agree to cooperate by prov-d:ng such information and documentation Approvals and Permits. The parties are aovised tc consult with their attorneys to determine whether any building. zon:ng, suhdivision. septic system or other construction or land use permits or approvals will be required either before or after the closing date The closing agent shall have no responsibility with respect to any such permit or apprcval.ana shall have no liability arising from the failure of anyalarty to obtain or from the refusal Of any governmental authority to grant. any such permit or approv Compliance with Certain Laws. The parties are advised to consult with their attorneys to determine their rights and responsibilities,if any.under the Consumer Pro:ecton Act,Truth-in-Lending Act or other similar laws The Closing Agent shaft have no responsibility for the parties'compliance. nor any liability arising from the failure of any part;to comply with any such law Additional Agreements.Instructions and Disclosures: Pajr?G Oi6 Any additional instructions noted below or attached by addenda are hereby incormorated into these instructions and made a part hereof Purchaser City of Kent BY Suzette Cooke It'S Mayor Seller -loix*thew f�-Baiber Accepted B,,., Ra:.njer Title LLC Pige 5 of 6 PRIVACY POLICY We Are Commrttc-d to Safeguarding Customer mforrnation In order to better serve your needs now and in the future, we may ask you to provide us with certain information. We understand that you may be concerned about what we will do with such information—particularly any personal o+financial information We aoree that you have a right to know how we will utilize the personal information you provide to us. Therefore we have adopted this Privacy Policy to govern the use and handling of your persona!information Applicability Depending upon which of our services you are utilizing, the types of nonpublic personal information that we may collect include • Information we receive from you on applications.forms and in other communications to us vvhether in writing in:'person by telephone or any other means. • Information about your transactions with s,our affiliated companies or others.and • Information we receive from a consumer reporting agency Use of Irformal;or We request information from you for your own legitimate b.,siness purposes and not for the benefit of any nonaffiliated party Therefore we vvdl not release your information to nonaffiliated parties except f 1 j as necessary for us to provide the product or services you have requested of us. or j2;as permitted by law We rr,ay however stole such information indefinitely including the period after which any customer relationship has ceased Such information may be used for any internal purpose, such as quaiitv control efforts or customer analysis We may also provide all of the types of nonpublic personal information listed above to one or more of our affiliated companies. Such affiliated companies include financial service providers.such as title insurers. property and casualty insurers, and trust and investment advisory companies or compares involved in real estate services, such as appraisal companies home warranty companies and escrow companies. Former Customers Even if you are no larger our customer.our Privacy Policy will continue to apply to you Confidentiality and Security We will use our best efforts to ensure that no unauthorized parties nave access to any of your information Vie restrict access to nonpublic personal information about you to:hose indiv duals and entities who need to know that informatior to provide products or services to you. We will use our best efforts to train and oversee our employees and agents to ensure '.hat your information will be handled responsibly and;n accordance with this Privacy Policy We currently maintain: ohysical.electronic, and procedu,ai safeguards tnat comoly with federal regulations to guard your nonpublic personal information page G df G h Rainier Title.t.l_C-Kent 20435 72nd Ave S.Sldg 3.Ste 155 Kent bvA 9a:,32 RAINIERTTLE ntrA0-,i133645 253,<,6-0240 tP, 425,229-2:44 is k��^te>crrn�R:ain:ergte.com Escrow File No. ;0'823RT Purchasersisi: City of Kent,A 0-lashington Municipal Corporation Sellersi Matthew R Barber Supplement To AGREEMENT AND ESCROW INSTRUCTIONS F'or Purchac and Safe Transaction Including Instructions to Record Documents and Disburse funds This supplement is part o`the Closing Agreement and Escrow instructions signed by the parties under the closing agents escrow file number set forth above Except as expressly modified. changed or amended by this suppierrent.all terms and conditions of the Closing Agreement and Escrow Instruct!ons and any previous supplements.additions or amendments thereto.shall remain in effect THE SELLER HAS OR WILL DEPOSIT THE FOLLOWING DOCUMENTS WITH THE CLOSING AGENT UNDER THESE INSTRUCTIONS: X Statutory Warranty'Deed — — �X : Reaf Estate Excise Affidavit --' THE BUYER HAS OR WILL DEPOSIT THE FOLLOWING DOCUMENTS WITH THE CLOSING AGENT UNDER THESE INSTRUCTIONS: Promissory Note --- Deed of Trust -- — Loae Dxumen aticn Required by Lender X Real Estate Excise Tax Affidavit X Sufficient Funds to Close BY SIGNING THIS DOCUMENT,EACH PARTY ACKNOWLEDGES: Conditions of Parties'Agreement Satisfied. Ail terms and conditions of the parties Purchase and Sale Agreement have 0een rnet to my satisfaction or wi:l be'net,satisfied or complied with onside of escrow,and closing agent shall not be further concerned. Title Report Approved. The Preliminary Commitment for Title Insurance,including the legal description of the property and all attachments and supplerren•ts to that report.issued by Rainier Title LLC under order number 70 i 823RT are approved by.me and made a part of these instructions by th s reference. Settlement Statement Approved. The prelimirarv.estimated settlement statement orepared by the closing agent is approved by me made a pail of these instructions by this reference and I acree to pay my costs.expenses and other obligations itemized on that statement. I understand that any estimated amounts will be adjusted to reflect the exact amounts required when the funds are disbursed that the settlement statement continues to be subject to audit at anytime.and if any monetary error is found the Page?cr amount will be paid by the party liable for such payment to the party entitled to receive it BY SIGNING THIS DOCUMENT,THE BUYER FURTHER ACKNOWLEDGES: Property Approved. I have had adequate opportunity to rev;gvv the seller's written disclosure statement ;f any. and to inspect the property and to deternt ne the exac location of as bourdar:es The location and physical condition of the property and any buildings. improvements. plumbing. heating. cooling, electrical or septic systems on the property are approved I understand that all inspections and approvals of the location and physical condition of the property are my sole responsibility ano are not part of the closing agents duties and responsibilites I hereby release and agree to hold the closing agent harmless from any and all claims of liability for loss or damage arising or resulting from ary physical condition or defect or.the property,Or from the location of its boundaries Assumed Encumbrances Approved. I have had adequate opportunity to review the terms of payment, interest rates and conditions of arty existing notes deeds of trust. mortgages contracts assessments or other debts or obligations that I will assume and agree to pay in this transaction and hereby approve the same THE CLOSING AGENT IS INSTRUCTED TO PROCEED AS FOLLOWS: Instructions to Close. The closing agent is instructed to perform ;is customary closng duties under these instructions to deliver and record documents according to these instructions and to disburse the funds according to the settlement statement. adjusting estimated amounts. when the closing agent has the documents required to close the transaction in its possession and has, or wili obtain when the documents have been delivered and recorded: Sale proceeds for the seller's account in the sum of$385,000.00 to be disbursed according to the settlemert statement 2 Loan proceeds for the buyers account in the sum of to be disbursed according to the settlement statement. 3. A policy of title insurance issued pursuant to the Preiiminaryy Commitment for Title Insurance referred to above. insuring the buyer with ALTA Standard Coverage Owner's Policy (06l2006)ceverage with liability of not less than S385 000 00 having the usual clauses.provisions and stipuiations customarily contained in the printed orovisions and schedules of such policy forms, insuring the buyer s title to the property against all defects or encumbrances except those set forth in the printed exceptions and exclusions customarily contained in the printed provisions and schedules of such policy forms•matters attaching oy through or under the buyer.taxes not yet due.and the matters set forth in the following numbered paragraphs of Schedule E or the Preliminary Commitment for Title Insurance.2nd half taxes and 19 through 22 4 Such other oolicies of Hie insurance as may be regwred by any lenders that are providing financing for the transaction in accordar;e w!th instructions from them. Completion or Correction of Documents. The closing agent is permitted to correct ary obvious or tvpographicai errors found in any document deposited under these instructions, and x insert as necessary the closing date the date on which interest begins to accrue.and the dates on which payments must be made,if such items are incomplete If necessary.the closing agent is authorized to substitute the vesting page Of the executed conveyance deed to amend grantee's ibuyers)names ardlor vestng in the event the buyer or their lender uses a different variation fo";trial closing Adjustments and Pro-rations. The closing agent is•ristructed to adjust and pro-rate as of the closino date,real estate'axes for the current year.recurrent assessments if any E-mail Transmission.Escrow Agent will communicate to the parties using a-malt if that address is provided by the parties on these instructions or on the P&SA given to the Escrow Agent.or if the parties communicate directly with the Escrow Agent using e-mail Email transmission or any signed original document and retransmission. of any signed email transmission snail be the same as deiive-v of an original Page 2 s`3 BY SIGNING THIS DOCUMENT,EACH PARTY ACKNOWLEDGES: Standard of Care. It is agreed that closing agent,as escrow^,odes.shalt be respons bie only for the exercise of ordinary care in foliowtng the instructions contained herein and is hereby released from any further or additional liability Seller agrees jointly and severally with buyer to indemnify and hoid closing agent harmless from and against any loss or damage that may result from closing agent completing this transaction in accordance with these instructions.and to pay on demand all costs. damages,judgments, attorneys' fees. expenses, obligations and liabilities of every Kind and nature suffered or incurred in connection with or arising out of th!s escrow except any iiabijity founded upon failure to exercise ordinary care in following the instructions contained herein. Advice to Consult Counsel. it is understood by the parties signing these escrow instructions or those instructions whici, are attached or subsequent hereto that such instructions constitute the whole agreement between cloy ng agent and you as principal to the escrow.transaction. These instructions may not include all the terms of the agreement, which is the subject of this escrow, Read these instructions carefully and do not sign unless they are acceptable to you Review all questions of a legal nature with your own attorney. By our signature below we hereby designate Rainier Title to be the closing agent Purchaser/Borrower: City of Ken! By Suzette Cooke it's Msyor Seller a; ..r x . latt ew R_Barber Page 3 of Rainier Title LLC-Kent 20435 72nd Ave S.FIdg s,Ste 155 RAiNIERTITLE �e�i ''' �`°� atTF.;px io83&:5 2s3,2.6-oa4o PT <25;329-2i 4 if, kentee.CrCMMra n ertine coin UTILITY DISBURSEMENT AGREEMENT THIS AGREEMENT is made between Matthew: R Barber ;Seller; City of Kent A Washington Municioa! Corporation iBuyer) and Rainier Title(Closing Agent)concerning Escrow Fite Number 701823RT related to the following street address.27246 Green River Road S.Kent WA 98030 WHEREAS-Washington law requires Escrow Agent to pay certain utilities-ha can becorne alien through the date of closing if the Buyer requests If Buyer does not waive this requirement the closing may not occur until Seller provides the required information and the designated utilities provide statements to Escrows Agent NOW THEREFORE. for good and valuable cons aeration, receipt of which Is hereby acknowledged, the parties hereto agree and instruct CICsing Agent as fellows X 1. If checked the parties direct Closing Agent to disburse the closing funds necessary to pay utilities that have hen rights and that are designated by Seller. a Pursuant to statute. the Seller must provide the names. addresses and account numbers of all ut.htles that can become a lien upon the :and if not paid Closing Agent is not responsible to determine the appropriate u,ilitics to be paid utilitiesestobe paid Seller acknowledges that prior to closing. Seiler has provided a list of to b The Ciosirg Agent may pay either the final statement of the utility company or the estimate of the utility company that is binding to the utility with respect to its lien rights against the Buyer. Seller understands that payment of the utility company's estimated statement allows the utility Company to require further funds from Seller if the final billing is higher,and the utility company is responsible to provide refund to the Seller directly if the final billing is lower c The Closing Agent may be required to withhold ar estimated amount from funds due to the Seiler in order to pay the des.gnated utilities That withhold if needed will be disclosed oilthe Seller s settlement statement The funcs Shall be helc in a non interest-bearing trust account until such time as the Closing Agent may determine and pay the amount c:amed due and refund the balance to the Seller If the withheld funds are insufficient Seller agrees to deposit the additional amount within 7 days after notice d. If Seller did not designate one or more utilities that have a lien right against the owner of the property. Seller remains liable to the Buyer to pay al utility charges due by the owner t' the property through the date of closing of the sale and will hold Closing Agent harmless from responstbrity for the payment or for administering any reimbursement due to Buyer. 2 If checked the par-ies do not request Closing Agent to pay utilities Buyer hereby waves the statutory cuty of Closing Agent to pay Seller's.itiht:es a. Seller acknowledges the Sellers obligation at the time of sale to pay all utility charges that are due by the owner of the :and througn the date of`e closing Seiler agrees to satisfy any such liens or charges outside of closing b. Seller remains!!able to the Buyer to pay ail utility Charges due by the owner of the prooerty through the date of closing of the sale ane to promptly reimburse Buyer for any amount Buyer pays that became due before the closing Both parties hold Closing Agent harmless from responsibility`or reimbursement to the parties claimed to be due after'he closing date. Buyer and Seller understand and agree that Escrow does not handle the transferring of utilities.It is the sole responsibility of the Buyer and Seller to ensure all utilities have been transferred at closing. City of Kent Dare _.. A3atthev-RBa•ber Date By Suzette Cooke,it's Mayor W., REAL ESTATE EXCISE TAX AFFIDAvrr ITF XY,IY,l i)k V10"i Of A PTUR 82,45 K"tV -CRAP VFINZ 4�8-61.A " -\.(.If I[,,,%I 1-11M VF`.%III No I M , - V 4 1:111 t I) I S ON %GFS ILRf.I I 1.1 IM Ff E I -'a Nanic %imaic,l R.R.I.he.. o n"nI;Iers,(j 1025 21,1 St.SE: ML- 12�t " Ue 4h A%_nue South %til)"ril.kit 98002 —------- il,Neal/w Kent,\1A 980.412 Vi:opc"o Send 311 fw'pcln to i owrv,j ....._I2 Mailing Address: f ih/statc"Zip: Phone NO.(includin!Z area cricie): su to Gre is Riurr Road S Kent. 98j)30 I,propcm is jocatcd in Cif.%of Kent Ki:nt -----.— awincrp,rcci, tic pit;,,I,I,i! ;0.!I.,1vcnt o, D —I-ICUI ,c in See pack ,I'Lst pa,ec fir,;Ils:ij,:: ,no P`TcFt)MI-1II;Pii,tn r d,;:;;trot wi.4 I r sc!-,o!ciwc I n,,,j,,ahivj per.on,eh Trim S 1,6,94 1-." N"Vis lit,kk In, cd `.wninc in I;q kl�M X44 wd r,--on J."cwn7pri"I: Isol"c't:"m is it,:,srrap,m tilz—ai�d Rc."."r. 4f 1o,propal-. pccasl r,ro Y'7 A:irtt 1 6 1.<I�.k II ut,an�,,cn,vc\cs.co:npl,:lt:a,I (1)\01'1(E 01(ON FIM XN('I If()Hf-SI 1,11,M)OR(I RRI.NJ*I it:) Nl:"(Ak MIR( toeonlinte iI m�vw ll'tcsi kill.:or C:iI1s11ii:aIion it.\�urrcol Lwr I,Pc"I likarriltrit$Deed or I;m cl I 1311c,-It Oil must sign On(3)belo%v mi,ii,ie,,it oniq jlWil April 10,20 1 dc!clowiv:t th .xd Trdn�!em,4 awl!v an': it Or 1 n, Pri,:, 5385.0410.00 1171in',hdov.Itbc land ot. 41 qwdlti I :ol%,i,l?" • it 01111:toe the&si.-I tau on"I Ill be rcwo%,.ij.111,1 Ih,: c0lnr t :I In-,or ioa,;!t,,\L, II I,., I! I j,�I,;.1t;. ., I-, h,"Alcr;-r 11"fo'lcror 41 the;Ililc -i. tc iW Vk 8-1. t W"I R(*,i 1 \a:-tc iicIiitig I's-w,! "wr wor,inil)rmilziop iav S!al� S41,428A) 'rhis land I I does 1 I dots no,goal i t�% lo,Coot inwrice. I0 I ocmli. S025400 Nzxc % !,(i,j I (2i NOTICE Of CO,IPLIA.NCE(HISTORIC PROPERT'Is Vcna,!?,c Nl:" R(s) I sign(3)Wolh If itio net, It%nc it,not 1%1,11 it m conulnic.al i .1,-,r 81-26 R(N.<11i,1 13�i1o, ";late l'i';1!t"I',i--,I adjkionji!jx'ilculaital pursuant I,;ck.;p x:d pa��ihtc h.\thc c1'r,,r or v,:."Icror Zillic It qj;Dix (3)OVvNER(5)S1(;NATI RE PRI\f NAME t(NI OR I Ii it.1c I if N \Uu.vv\AIA I OF PER-11 In I If I I III I ORF,(;01\(;IS'I fit J, IM) ORRH 1. ".,:Oxj;z Gi-Ano.,"r 1, - I A Gs--Ice orf"'.111ce"%gi:fll R.Hart— Jim, 7� )x-, -r.,-st is. --w -;L"n o-A LILI, 1 0 1 Its-I—i( *, Parcel A: C'omn er cin;!at the\.rthcast corner at Section 3 f totenshin'?\„rt R ttr_c tut.�t'.�1.in Kin Count,. llashin <)c,and runnc Ircnce\Legit alun_,the\.r.h f.nc,•(satJ Section.975; et fhCOCc South it Y)b'E ft1"Fast 5 11 0 feet. Thence East parallel in the\orth line t"the f aM!iue nf.niri Cic!ion: thence along,aid Fast Iin; tt.the nlacc of hc;mnim•, P:lrt•-zl K: Cut lingTe t 87S,n a r) III;he\crt!t line rf irct o 10W ip ?North.Kane La,t.LL.\1.in K np C':•unh. Na:hiu a N ea t the\orthea�t %%corner f Said Section.rutminc t hence LL cq alum_.,aid\;nh nne -i ' feet In;he mast houndar,. line of t.'ounr,road. hhenc,aionc aatd L.a;t boundai,line"outh 19' O'f)t)"Itast 98.0; t Thence South 42-0;'ii(r I:;Is; 174 p 'I'lleTICC South 16 4 '(i0' L;<; Thence South 19:3*00' La[57I.'Ices. Thence\,,rrth 66 J"(At L -ISM.id tee!, T hence North? rf)'00'Ll eat 164 0 t et Thence\orth_±'Or,l?;;' kk"'I Situate in the County of King. State of Washington