HomeMy WebLinkAboutCAG2020-086 - Original - PacMet Property LLC - Signature Pointe Milwaukee II Levee - 959 5th Ave S - Parcel No. 000660-0102 - 03/10/2020KENT
WASHINGTON
Agreement Routing Form
For Approvals, Signatures and Records Management
This form combines & replaces the Request for Mayor's Signature and Contract Cover Sheet forms.
(Print on pink or cherry colored paper)
Originator.
Cheryl Rolcik-Wilcox
Department:
Public Works
R
Date Sent:
3/5/20
Date Required:
3/ 12/20
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Authorized
Director or Designee
Date of
2/18/20
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to Sign:
Council
aMayor
Approval:
Budget
Grant?
Yes No
Account
D20085/#13-3003
Number:
Type:
N/A
Vendor
PacMet Property LLC
Category:
9 ►Y
Purchase Sale
Name:
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Vendor
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Sub -Category
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Number:
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Project
Signature Point Levee
Name:
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Project
Details:
Acquisition of a portion of property owned by PacMet for the Levee Proj.
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Agreement
67 000
Basis for
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Amount:
Selection of
171
Contractor.
Start Date:
Termination Date:
Notice required prior to Yes No
Contract Number.
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disclosure?
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Comments:
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Date Routed to the Mayor's Office:
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Date Routed to the City Clerk's Office:
Office of the ;Mayor
Date Sent to Originator:
Visit Documents.KentWA.gov to obtain copies of all agreements
adccW22373_6_19
REAL ESTATE PURCHASE AND SALE AGREEMENT
WITH EARNEST MONEY PROVISION
This Agreement is entered between the CITY OF KENT, a Washington
municipal corporation ("Buyer"), whose mailing address is 220 4th Avenue South,
Kent, Washington 98032-5895, and PACMET PROPERTY LLC ('Seller"), whose
mailing address is 925 5th Avenue S., Kent, WA 98032, for the sale and purchase of
real property as follows:
1. PROPERTY. The Property, which Buyer agrees to buy and Seller agrees
to sell, is known as a portion of King County Tax Parcel Number 000660-0102,
approximately 2,560 square feet in size and located at 959 5th Avenue S., Kent, WA
98032 (the "Property"). The Property is legally described in Exhibit "A" and depicted
in Exhibit "B", attached hereto and incorporated herein by this reference.
2. EARNEST MONEY. Within 10 working days of mutual acceptance of
this Agreement, Buyer shall deposit with Rainier Title Insurance Company (the
"Escrow Agent"), the sum of Five Thousand Dollars and NO/100ths ($5,000.00) in
the form of a check, as refundable earnest money to be applied toward the purchase
price of the Property payable at Closing.
3. PURCHASE PRICE. The total purchase price for the Property is Sixty -
Seven Thousand Dollars and NO/100ths ($67,000.00), which amount includes the
Earnest Money, payable on Closing.
4. CONTINGENCIES. This Agreement is contingent upon the Buyer
authorization set forth in Section 18 of this Agreement and the other contingencies
provided for throughout this Agreement. Should any of the contingencies not be met
prior to Closing, then this Agreement shall terminate and neither Buyer nor Seller
shall have any further rights, duties or obligations hereunder, except that the Earnest
Money in Escrow shall be immediately returned to Buyer.
Buyer's Initials > Seller's Initials T
Seller's Initials
Real Estate Purchase and Sale Agreement Page 1 of 7
IN; mWill 1.4 0 14:10 L COUGH
This Agreement is entered between the CITY OF KENT, a Washington
OlUD|dpal cU[pV[8tiOO ("Buyer"), VVhOS8 mailing ddd[86S is 220 4m Avenue South,
Kent, VVdahiDgtDD 98032-5895, and PACMEl[ PROPERTY LLC ("Seller"), whose
mailing address is 925 5 m Avenue S, Kent, WA 98032, for the sale and purchase of
real property as follows:
1. PROPERTY. The Property, which Buyer agrees to buy and Seller agrees
to sell, is known as a portion of King County Tax Parcel Number 000660-0102,
approximately 2,560 square feet in size and located at 959 5 th Avenue S., Kent, WA
98U32(the "PrOpertv"\. The Property islegally described |nExhibit `'A" and depicted
in Exhibit "B", attached hereto and incorporated herein by this reference.
2. EARNEST MONEY. Within 10 working days of mutual acceptance of
this Agreement, Buyer shall deposit with Rainier Title Insurance Company (the
"Escrow Agent"), the SUDl OfFive Thousand Dollars and NO/100thS ($5,000.00) in
the form of a check, as refundable earnest money to be applied toward the purchase
price of the Property payable at Closing.
3. PURCHASE PRICE. The total purchase price for the Property is Sixty -
Seven Thousand Dollars and NO/100ths ($67,000.00), which amount includes the
Earnest Money, payable on Closing.
4. CONTINGENCIES. This Agreement is contingent upon the Buyer
authorization Set forth in Section 18 of this Agreement and the other contingencies
provided for throughout this Agreement. Should any of the contingencies not be met
prior to Closing, then this Agreement shall terminate and neither Buyer nor Seller
shall have any further rights, duties or obligations hereunder, except that the Earnest
Money in Escrow shall he immediately returned b} Buyer.
/ ~�
Buyer's Initials Seller'sIn�a ��/ Seller'sIn��
Real Estate Purchase and Sale Agreement Page 1 o[7
5. CONVEYANCE AND CONDITION OF TITLE. The title to the Property
shall be conveyed by Seller to Buyer at Closing by Statutory Warranty Deed, free and
clear of all liens, encumbrances or defects except those described in Schedule B, Part
II, Special Exceptions paragraph(s) 15 through 23 of Rainier Title Report Number
757846RT, described in Exhibit "C", attached hereto and incorporated herein by this
reference. All other special exceptions therein are to be removed from the Property
on or before Closing. General exclusions and exceptions common to the area and
not materially affecting the value of or unduly interfering with Buyer's reasonable use
of the Property shall be permitted. All monetary encumbrances and special
exceptions listed in Exhibit "C", other than those specifically noted above, are to be
removed from the Property on or before Closing.
6. TITLE INSURANCE. At Closing, Buyer shall cause Rainier Title, who
is also serving as Escrow Agent, to issue standard coverage owner's policy of title
insurance to Buyer in an amount equal to the total purchase price of the Property.
For purposes of this Agreement, the following shall not be deemed encumbrances or
defects: rights reserved in federal patents or state deeds, building or use restrictions
consistent with current zoning and utility and road easements of record. If title
cannot be made so insurable prior to Closing, unless Buyer elects to waive such
defects or encumbrances, this Agreement shall terminate and the Earnest Money
shall be returned to Buyer.
7. CLOSING COSTS AND PRO -RATIONS. The escrow fee, and Excise
Tax, if applicable, shall be paid by Seller, except for those fees which are expressly
limited by Federal Regulation. Buyer shall pay all recording costs, title insurance
premium, the costs of any survey, and the fees and expenses of its consultants.
Taxes for the current year, rents, interest, water, sewer and other utility charges, if
any, shall be paid by Seller, and prorated as of the day of Closing, unless otherwise
agreed.
Buyer's Initials Seller's Initials
Seller's Initials
Real Estate Purchase and Sale Agreement Page 2 of 7
5. CONVEYANCE AND CONDITION OF TITLE. The title to the Property
shall be conveyed by Seller to Buyer at Closing by Statutory Warranty Deed, free and
clear of all liens, encumbrances or defects except those described in Schedule B, Part
II, Special Exceptions paragraph(s) 15 through 23 of Rainier Title Report Number
757846RT, described in Exhibit '"C", attached hereto and incorporated herein by this
reference. All other special exceptions therein are to be removed from the Property
on or before Closing. General exclusions and exceptions common to the area and
not materially affecting the value of or unduly interfering with Buyer's reasonable use
of the Property shall be permitted. All monetary encumbrances and special
exceptions listed in Exhibit "C", other than those specifically noted above, are to be
removed from the Property on or before Closing.
6. TITLE INSURANCE. At Closing, Buyer shall cause Rainier Title, who
is also serving as Escrow Agent, to issue standard coverage owner's policy of title
insurance to Buyer in an amount equal to the total purchase price of the Property.
For purposes of this Agreement, the following shall not be deemed encumbrances or
defects: rights reserved in federal patents or state deeds, building or use restrictions
consistent with current zoning and utility and road easements of record. If title
cannot be made so insurable prior to Closing, unless Buyer elects to waive such
defects or encumbrances, this Agreement shall terminate and the Earnest Money
shall be returned to Buyer.
7. CLOSING COSTS AND PRO -RATIONS. The escrow fee, and Excise
Tax, if applicable, shall be paid by Seller, except for those fees which are expressly
limited by Federal Regulation. Buyer shall pay all recording costs, title insurance
premium, the costs of any survey, and the fees and expenses of its consultants.
Taxes for the current year, rents, interest, water, sewer and other utility charges, if
any, shall be paid by Seller, and prorated as of the day of Closing, unless otherwise
agreed.
Buyer's Initials Seller's Initial;_L f
Real Estate Purchase and Sale Agreement
Seller's Initials
Page 2 of 7
S. CLOSING OF THE SALE. WITH THE UNDERSTANDING THAT TIME IS
OF THE ESSENCE FOR THIS AGREEMENT, this sale shall be closed within sixty days
of the date of mutual acceptance of this Agreement, which shall also be the
termination date of this Agreement, unless said Closing date is extended in writing
by mutual agreement of the parties. When notified, the Buyer and Seller will deposit,
without delay, in escrow with Escrow Agent, all instruments and monies required to
complete the transaction in accordance with this Agreement. Closing, for the
purpose of this Agreement, is defined as the date that all documents are executed
and the sale proceeds are available for disbursement to the Seller.
9. CASUALTY LOSS. If, prior to Closing, improvements on the Property
shall be destroyed or materially damaged by fire or other casualty, this Agreement,
at option of the Buyer, shall become null and void.
10. POSSESSION. Buyer shall be entitled to possession on Closing.
11. SELLER'S REPRESENTATIONS. Seller represents:
(a) that Seller will maintain the Property in present or better condition until
time of agreed possession;
(b) that Seller has no knowledge of notice from any governmental agency
of any violation of laws relating to the Property except:
(c) that if the Property is leased, Seller will provide copies of each and every
lease to Buyer within one working day upon request.
12. SELLER'S ENVIRONMENTAL REPRESENTATIONS. Seller represents
that, to the best of Seller's knowledge, Seller is not aware of the existence of, or has
caused or allowed to be caused, any environmental condition (including, without
limitation, a spill, discharge or contamination) that existed as of and/or prior to
Closing or any act of omission occurring prior to Closing, the result of which may
require remedial action pursuant to any federal, state or local law or may be the basis
for the assertion of any third party claims, including claims of governmental entities.
Buyer's Initia/s�� Seller's Initials Seller's Initials
Real Estate Purchase and Sale Agreement Page 3 of 7
S. CLOSING OF THE SALE. WITH THE UNDERSTANDING THAT TIME IS
OF THE ESSENCE FOR THIS AGREEMENT, this sale shall be closed within sixty days
of the date of mutual acceptance of this Agreement, which shall also be the
termination date of this Agreement, unless said Closing date is extended in writing
by mutual agreement of the parties. When notified, the Buyer and Seller will deposit,
without delay, in escrow with Escrow Agent, all instruments and monies required to
complete the transaction in accordance with this Agreement. Closing, for the
purpose of this Agreement, is defined as the date that all documents are executed
and the sale proceeds are available for disbursement to the Seller.
9. CASUALTY LOSS. If, prior to Closing, improvements on the Property
shall be destroyed or materially damaged by fire or other casualty, this Agreement,
at option of the Buyer, shall become null and void.
11. SELLER'S REPRESENTATIONS. Seller represents:
(a) that Seller will maintain the Property in present or better condition until
time of agreed possession;
(b) that Seller has no knowledge of notice from any governmental agency
of any violation of laws relating to the Property except:
(c) that if the Property is leased, Seller will provide copies of each and every
lease to Buyer within one working day upon request.
12. SELLER'S ENVIRONMENTAL REPRESENTATIONS. Seller represents
that, to the best of Seller's knowledge, Seller is not aware of the existence of, or has
caused or allowed to be caused, any environmental condition (including, without
limitation, a spill, discharge or contamination) that existed as of and/or prior to
Closing or any act of omission occurring prior to Closing, the result of which may
require remedial action pursuant to any federal, state or local law or may be the basis
for the assertion of any third party claims, including claims of governmental entiti
Buyer's Initials Seller's Initial --4 Seller's Initials
Real Estate Purchase and Sale Agreement Page 3 of 7
This provision shall survive Closing and be in addition to Seller's obligation for breach
of a representation or warranty as may be set forth herein.
13. SELLER'S INDEMNITIES: Seller agrees to defend, indemnify, and
hold harmless the Buyer, against and in respect of, any and all damages, claims,
losses, liabilities, judgments, demands, fees, obligations, assessments, and expenses
and costs, including, without limitation, reasonable legal, accounting, consulting,
engineering and other expenses which may be imposed upon or incurred by Buyer,
or asserted against Buyer, by any other party or parties (including, without limitation,
a governmental entity), arising out of or in connection with any environmental
condition existing as of and/or prior to Closing, including the exposure of any person
to any such environmental condition, regardless of whether such environmental
condition or exposure resulted from activities of Seller or Seller's predecessors in
interest. This indemnity shall survive Closing and be in addition to Seller's obligation
for breach of a representation or warranty as may be set forth herein.
14. DEFAULT AND ATTORNEY'S FEES.
(a) Buyer's Default. If Buyer defaults hereunder, Seller's sole remedy shall
be limited to damages against Buyer in the liquidated amount of the
Earnest Money previously paid by the Buyer. Buyer and Seller intend
that said amount constitutes liquidated damages and so as to avoid
other costs and expenses to either party in connection with potential
litigation on account of Buyer's default. Buyer and Seller believe said
amount to be a fair estimate of actual damages.
(b) Seller's Default. If Seller defaults hereunder, Buyer shall have all the
rights and remedies available at law or in equity.
(c) Attorney's Fees and Costs. In the event of litigation to enforce any of
the terms or provisions herein, each party shall pay all its own costs and
attorney's fees.
15. NOTICE TO SELLER. This form contains provisions for an agreement
for the purchase and sale of real estate. Buyer makes no warranty or representation
Buyer's Initials Seller's Initials Seller's Initials
Real Estate Purchase and Sale Agreement Page 4 of 7
This provision shall survive Closing and be in addition to Seller's obligation for breach
of a representation or warranty as may be set forth herein.
13. SELLER'S INDEMNITIES: Seller agrees to defend, indemnify, and
hold harmless the Buyer, against and in respect of, any and all damages, claims,
losses, liabilities, judgments, demands, fees, obligations, assessments, and expenses
and costs, including, without limitation, reasonable legal, accounting, consulting,
engineering and other expenses which may be imposed upon or incurred by Buyer,
or asserted against Buyer, by any other party or parties (including, without limitation,
a governmental entity), arising out of or in connection with any environmental
condition existing as of and/or prior to Closing, including the exposure of any person
to any such environmental condition, regardless of whether such environmental
condition or exposure resulted from activities of Seller or Seller's predecessors in
interest. This indemnity shall survive Closing and be in addition to Seller's obligation
for breach of a representation or warranty as may be set forth herein.
14. DEFAULT AND ATTORNEY'S FEES.
(a) Buyer's Default. If Buyer defaults hereunder, Seller's sole remedy shall
be limited to damages against Buyer in the liquidated amount of the
Earnest Money previously paid by the Buyer. Buyer and Seller intend
that said amount constitutes liquidated damages and so as to avoid
other costs and expenses to either party in connection with potential
litigation on account of Buyer's default. Buyer and Seller believe said
amount to be a fair estimate of actual damages.
(b) Seller's Default. If Seller defaults hereunder, Buyer shall have all the
rights and remedies available at law or in equity.
(c) Attorney's Fees and Costs. In the event of litigation to enforce any of
the terms or provisions herein, each party shall pay all its own costs and
attorney's fees.
15. NOTICE TO SELLER. This form contains provisions for an agreement
for the purchase and sale of real estate. Buyer makes no warranty or representation
Buyer's Initials Seller's Initials
Seller's Initials
Real Estate Purchase and Sale Agreement Page 4 of 7
of any kind that this form, or any of its provisions, is intended to meet the factual
and legal requirements of a particular transaction, or that it accurately reflects the
laws of the State of Washington at the time Seller enters into the Agreement. THIS
AGREEMENT HAS SIGNIFICANT LEGAL AND FINANCIAL CONSEQUENCES. SELLER IS
ADVISED TO SEEK INDEPENDENT LEGAL AND FINANCIAL COUNSEL REGARDING
THESE CONSEQUENCES.
16. NON -MERGER. The terms, conditions, and provisions of this
Agreement shall not be deemed merged into the deed, and shall survive the Closing
and continue in full force and effect.
17. NOTICES. All notices required or permitted to be given hereunder shall
be in writing and shall be sent U.S. certified mail, return receipt requested, or by
facsimile transmission addressed as set forth below:
(a) All notices to be given to Buyer shall be addressed as follows:
City of Kent
Attn: Cheryl Rolcik-Wilcox
Property & Acquisition Analyst
220 Fourth Avenue South
Kent, WA 98032
CRolcik-Wilcox@KentWA.gov
Fax: 253-856-6500
And to:
City of Kent
Attn: City Clerk
220 Fourth Avenue South
Kent, WA 98032
CityClerk@ KentWA.gov
Fax: 253-856-6725
(b) All notices to be given to Seller shall be addressed as follows:
PacMet Property LLC
Attn: Derek Fallen
925 5th Avenue S.
Kent, WA 98032
Derek@PacMet.co,
Buyer's Initia/s_+Xv Seller's Initials Seller's Initials
Real Estate Purchase and Sale Agreement Page 5 of 7
of any kind that this form, or any of its provisions, is intended to meet the factual
and legal requirements of a particular transaction, or that it accurately reflects the
laws of the State of Washington at the time Seller enters into the Agreement. THIS
AGREEMENT HAS SIGNIFICANT LEGAL AND FINANCIAL CONSEQUENCES. SELLER IS
ADVISED TO SEEK INDEPENDENT LEGAL AND FINANCIAL COUNSEL REGARDING
THESE CONSEQUENCES.
16. NON -MERGER. The terms, conditions, and provisions of this
Agreement shall not be deemed merged into the deed, and shall survive the Closing
and continue in full force and effect.
17. NOTICES. All notices required or permitted to be given hereunder shall
be in writing and shall be sent U.S. certified mail, return receipt requested, or by
facsimile transmission addressed as set forth below:
(a) All notices to be given to Buyer shall be addressed as follows:
City of Kent
Attn: Cheryl Rolcik-Wilcox
Property & Acquisition Analyst
220 Fourth Avenue South
Kent, WA 98032
CRolcikLWLilcox@KentWA._qov
Fax: 253-856-6500
And to:
City of Kent
Attn: City Clerk
220 Fourth Avenue South
Kent, WA 98032
CitvClerk(cbKentWA.g.gv
Fax: 253-856-6725
(b) All notices to be given to Seller shall be addressed as follows:
PacMet Property LLC
Attn: Derek Fallen
925 5th Avenue S.
Kent, WA 98032
PerekpPacMet.co,
Buyer's Initials Seller's Initials4z Seller's Initials -4
Real Estate Purchase and Sale Agreement Page 5 of 7
(c) All notices to be given to Escrow Agent shall be addressed as follows:
Jennie Graddon
Rainier Title Insurance Company
20435 72nd Ave. S., # 155
Kent, WA 98032
JennieG@RainierTitle.com
213-216-0240
Either party hereto may, by written notice to the other, designate such other address
for the giving of notices as necessary. All notices shall be deemed given on the day
such notice is personally served, or on the date of the facsimile transmission, or on
the third day following the day such notice is mailed in accordance with this section.
18. CITY COUNCIL ACTION REQUIRED. Seller acknowledges that the
closing of the transaction contemplated by this Agreement (the 'Closing") is
expressly conditioned on the Kent City Council (the "City Council") granting its
authorization for the City to buy the Property under the terms of this Agreement
('Council Authorization"), which may or may not be granted in the City Council's sole
discretion. The City of Kent shall not be liable or obligated for any burden or loss,
financial or otherwise, incurred by Seller as a result of the City Council's modification
of the final terms and conditions of this Agreement, or the City Council's failure to
grant the Council Authorization.
18.1 Seller's Waiver. Seller expressly waives any claim against the
City of Kent and its elected officials, officers, employees, representative and agents
for any burden, expense or loss which Seller incurs as a result of the City Council's
failure to grant the Council Authorization.
19. ENTIRE AGREEMENT. This Agreement, including all incorporated
exhibits, constitutes the full understanding between Seller and Buyer. There have
been no verbal or other agreements that modify this Agreement.
20. BINDING EFFECT AND SURVIVAL. This Agreement shall be binding
upon parties hereto and their respective heirs, successors and assigns; and the
Buyer's Initials—w=� Seller's Initials Seller's Initials
Real Estate Purchase and Sale Agreement Page 6 of 7
/C\ All notices to be g|VBO to Escrow Agent shall be addressed as follows:
]eDOiCC5raddOn
Rainier Title Insurance Company
2043572 nd Ave. S., #155
Kent, WA 98032
313-216-0240
Either party hereto may, by written notice to the other, designate such other address
for the giving of notices as necessary. All notices shall be deemed given on the day
such notice is personally served, or on the date of the fOcS|Dl||e transmission, or On
the third day following the day such D0UC8 is mailed in OCCOFd8Oc8 with this SeCbOD.
18. CITY COUNCIL ACTION REQUIRED. Seller acknowledges that the
dOSiOg Of the L[dnSdCt|OO contemplated by this Agreement (the "Closing") is
eXp[85S|y conditioned VD the Kent City Council (the "City Council") granting its
authorization for the City to buy the Property under the t8[[OS of this Agn88[O8Ot
("Council Authorization"), which may or may not be granted in the City Council's sole
discretion. The City OfKent shall not be liable or obligated for any bURjeD or loss,
financial Or otherwise, incurred by Seller as d result of the City COUOCi|'S modification
Of the final terms and C0Odit|DOS of this Agreement, or the City C0uDCiy5 failure to
grant the Council Authorization.
18.1 . Seller expressly waives any claim against the
City 0fKent and its elected officials, officers, employees, representative and agents
for any burden, expense Or loss which Seller inCU[5 as O n8SUlt of the City COUOC|l'S
failure to grant the Council AUthO[|zOdUO.
19. ENTIRE AGREEMENT. This Agreement,� including all incorporated
exhibits, constitutes the full understanding between Seller and Buyer. There have
been no verbal orother agreements that modify this Agreement.
20. BINDING EFFECT AND SURVIVAL. This Agreement shall be binding
upon parties hereto and their respective heirs, SuCCeGSOrS and O55|gnS; and the
Buyer's InitialsSeller's Initia/ Seller's Initials
Real Estate Purchase and Sale Agreement Page 6 of
terms, conditions and provisions of this Agreement shall survive the Closing of this
transaction.
21. DATE OF MUTUAL ACCEPTANCE. For the purposes of this Agreement,
the date of mutual acceptance of this Agreement shall be the last date on which the
parties to this Agreement have executed this Agreement as indicated below.
22. EXPIRATION OF OFFER. Seller shall have only until 5:00 pm on
, to accept the Agreement as written,
by delivering a signed copy thereof to the Buyer or Buyer's agent. If Seller does not
so deliver a signed copy within said period, this Agreement shall lapse and all right
of the parties hereunder shall terminate.
IN WITNESS WHEREOF, the parties hereto have executed this Agreement on
the date set forth below.
BUYER:
CITY OF KENT
Name: Dana Ralph
Title: Mayor'( l�
Dated: 71 CN
SELLER:
Name: 17�R-Gk fiNLL6
Title: NAC-�ctZ-, PAGM6-T
Dated:
Buyer's Initials Seller's Initials Seller's Initials
Real Estate Purchase and Sale Agreement Page 7 of 7
terms, conditions and provisions of this Agreement shall survive the Closing of this
transaction.
the date of mutual acceptance of this Agreement shall be the last date on which the
parties to this Agreement have executed this Agreement as indicated below.
22. EXPIRATION OF OFFER. Seller shall have only until 5:00 pm on
to accept the Agreement as written,
by delivering a signed copy thereof to the Buyer or Buyer's agent. If Seller does not
so deliver a signed copy within said period, this Agreement shall lapse and all right
of the parties hereunder shall terminate.
IN WITNESS WHEREOF, the parties hereto have executed this Agreement on
the date set forth below.
A I WAL91 a 1144 � I I
Name: Dana Ralph
Title: Mayor
Dated:
SELLER:
Name: E2i5g-CV- rALL&tJ
Title:
Dated: --z-z,
1 -1
7-e- 1-.o
Buyer's Initials Seller's Initials6z�
Real Estate Purchase and Sale Agreement
Seller's Initials
Page 7 of 7
EXHIBIT A
TAX LOT 0006600102
PARTIAL ACQUISITION
THAT PORTION OF SAMUEL W. RUSSELL DONATION CLAIM NO, 41, IN SECTION 25,
TOWNSHIP 22 NORTH, RANGE 4 EAST, W.M., IN KING COUNTY, WASHINGTON
DESCRIBED AS FOLLOWS:
COMMENCING AT THE NORTHWEST CORNER OF THE S.W. RUSSELL DONATION CLAIM
NO 41; THENCE SOUTH 00°11'08" EAST 1373.52 FEET TO THE SOUTHWEST CORNER
OF WATERMAN'S ACRE TRACTS, ACCORDING TO THE PLAT RECORDED IN VOLUME 12
OF PLATS, PAGE 11, IN KING COUNTY, WASHINGTON; THENCE NORTH 89'42'56" EAST
795.51 FEET; THENCE SOUTH 00°18'30" EAST 1445.41 FEET TO THE NORTHERLY RIGHT
OF WAY MARGIN OF SOUTH 259TH STREET, THENCE ALONG SAID NORTHERLY RIGHT
OF WAY MARGIN, NORTH 82°55'10" WEST 20.17 FEET TO THE WESTERLY LINE OF THAT
TRACT OF LAND CONVEYED TO THE CITY OF KENT RECORDED UNDER AUDITOR'S
FILE NUMBER 9208110918, IN KING COUNTY, WASHINGTON BEING THE POINT OF
BEGINNING; THENCE CONTINUING ALONG SAID NORTHERLY LINE, NORTH 82°55'10"
WEST 116.05 FEET TO THE EASTERLY MARGIN OF THE UNION PACIFIC RAILROAD
COMPANY RIGHT OF WAY; THENCE ALONG SAID EASTERLY MARGIN, NORTH 04°40'40"
WEST 7.42 FEET; THENCE LEAVING SAID EASTERLY MARGIN, SOUTH 82°55'10" EAST
6.71 FEET TO A POINT OF TANGENCY WITH A 133.00 FOOT RADIUS, CIRCULAR CURVE
TO THE LEFT; THENCE NORTHEASTERLY, ALONG SAID CURVE, THROUGH A CENTRAL
ANGLE OF 51 °05'39", AN ARC DISTANCE OF 118,60 FEET TO THE WEST LINE OF SAID
TRACT OF LAND CONVEYED TO THE CITY OF KENT; THENCE ALONG SAID WESTERLY
LINE SOUTH 00018'30" EAST 57.21 FEET TO THE POINT OF BEGINNING.
CONTAINING 2,560 SQUARE FEET, MORE OR LESS.
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L1 - N82'55'10"W - 20,17' 0 I TAX LOT ( ''
L2 - N82°5510"W - 116.05, I I 0006600102 I
1-3 - N04"40'42"W - 7.42' I O I
L4 - S82°55'10"E - 6.71'
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2,560 SQ. FT.
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IMPORTANT:
THIS IS NOT A SURVEY. IT IS
FURNISHED AS A CONVENIENCE TO
LOCATE THE LAND INDICATED
HEREON WITH REFERENCE TO
STREETS AND OTHER LAND. NO
Project #16-3006 LIABILITY IS ASSUMED BY REASON OF
RELIANCE HEREON.
PARTIAL
LOCATED IN, SECTION 25, ACQUISITION
TOWNSHIP 22 NORTH, RANGE 4 r+/ 1CtN T DRAWN BY: TLM
EAST, W.M, ""'N1NO7N EXHIBIT
CITY OF KENT SCALE: 1"=100B
LAND SURVEY SECTION DATE: 07/16/2019
EXHIBIT C
ALTA COMMITMENT FOR TITLE INSURANCE
SCHEDULE B PART II
ISSUED BY RAINIER TITLE AGENT FOR
RAINIERTITLE COMMONWEALTH LAND TITLE INSURANCE COMPANY
e No.: 757846RT
Special Exceptions:
The Land is situated within the boundaries of local taxing authority of City of Kent.
CAUTION: Washington has a graduated excise tax rate for sales occurring on or after 1/1/2020
for most properties, although a flat rate applies to properties formally classified and specially
valued as timberland or agricultural land on the day of closing.
The rate of real estate excise tax applicable to a sale prior to 1/1/2020, is 1.78%.
The rate of real estate excise tax to a sale on or after 1/1/2020 for properties which are not
formally classified and specially valued as timberland or agricultural land is:
State portion: 1.10% on any portion of the sales price of $500,000 or less;
1.28% on any portion of the sales price above $500,000, up to $1,500,000;
2.75% on any portion of the sales price above $1,500,000, up to $3,000,000;
3.00% on any portion of the sales price above $3,000,000;
Local portion: 0.50% on the entire sales price.
An additional $5.00 State Technology Fee must be included in all excise tax payments. If the
transaction is exempt, an additional $5.00 Affidavit Processing Fee is required.
Any conveyance document must be accompanied by the official Washington State Excise Tax
Affidavit. The applicable excise tax must be paid and the affidavit approved at the time of the
recording of the conveyance documents. (NOTE: Real Estate Excise Tax Affidavits must be
printed as legal size forms).
General taxes and related charges for the year 2020 are not available from the County at this time
and are not yet payable.
Tax Account No.: 000660-0102-08
Levy code: 1526
General taxes and charges for the year 2019, which have been paid
Amount:
$24,925.30
Tax Account No.:
000660-0102-08
Levy code:
1526
Assessed value of land:
$1,048,400.00
Assessed value
of improvements:
$958,000.00
Based on the Treasurer's records, the name and address of the last taxpayer/owner is:
Allan Family LLC
2636 Quarterhorse Way
Richland, WA 99352
The legal description in this commitment is based upon information provided with the application
for title insurance and the public records as defined in the policy to issue. The parties to the
forthcoming transaction must notify the title insurance company, prior to closing, if the description
does not conform to their expectations.
This page is only a part ofa 2016 ALTA® Commitment for Title Insurance This Commitment is not valid without the Notice; the Commitment to Issue Policy, the Commitment
Conditions; Schedule A; Schedule S, Part I —Requirements; and Schedule B, Part Il— Exceptions; and a counter -signature by the Company or its issuing agent that may be
in electronic form
Copyright 2006-2016 American Land Title Association. All rights reserved. �
A Al2 RfC:1N
The use of this Form (or any derivative thereof) is restricted to ALTA licensees and tu+u ruu
ALTA members in good standing as of the date of use. All other uses are prohibited.
Reprinted under license from the American Land Title Association.
Page 9 of 18
5. Liability, if any, for personal property taxes pursuant to R.C.W. 84.56.070 wherein no conveyance
can be made without prepayment of said tax, including advanced tax.
Any question should be directed to the Personal Property Tax Department of the County wherein
the property is located.
6. Unrecorded leaseholds, if any; rights of vendors and holders of security interest on personal
property installed upon the land; and rights of tenants to remove trade fixtures at the expiration of
the term.
PLEASE FULLY COMPLETE AND RETURN THE ATTACHED AFFIDAVIT TO THE COMPANY
FOR REVIEW PRIOR TO CLOSING.
7. Matters affecting security interests in personal property which may be disclosed by a search of the
Uniform Commercial Code (UCC) records at the Washington State Department of Licensing in
Olympia.
8. We are informed that PacMet Property LLC, is a limited liability company (LLC). A copy of the
duplicate original of the filed LLC Certificate of Formation, the LLC agreement and all subsequent
modifications or amendments must be submitted to the Company for review.
9. Any conveyance or mortgage by PacMet Property LLC, a limited liability company (LLC), must be
executed by all the members, or evidence submitted that certain designated members or
managers have been authorized to act for the limited liability company.
10, Deed of Trust and the terms and conditions thereof:
Grantor:
Allen Family LLC, a Washington limited liability company
Trustee:
First American Title Insurance Company
Beneficiary:
PacMet Property LLC, a Washington limited liability company
Original amount:
$5,350,000.00
Dated:
December 27, 2020
Recorded:
December 30, 2020
Recording No.:
20191230000064
Includes other property
11. Deed of Trust and the terms and conditions thereof:
Grantor:
The Allen Family LLC, a Washington limited liability company
Trustee:
First American Title Insurance Company
Beneficiary:
PacMet Property LLC, a Washington limited liability company
Original amount:
$5,350,000.00
Dated:
December 27, 2020
Recorded:
December 30, 2020
Recording No.:
20191230000905
Includes other property
This page is only apart of a 2016 ALTA® Commitment for Title Insurance. This Commitment is not valid without the Notice; the Commitment to Issue Policy; the Commitment
Conditions; Schedule A; Schedule B, Part I —Requirements; and Schedule B, Part Il— Exceptions; and a counter -signature by the Company or its issuing agent that maybe
in electronic form
Copyright 2006-2016 American Land Title Association. All rights reserved. aaaR.N
..f RI ;Ati
The use of this Farm (or any derivative thereof) is restricted to ALTA licensees and ,A�,„ r,u,
ALTA members in good standing as of the date of use. All other uses are prohibited. Muck c W*
Reprinted under license from the American Land Title Association.
Page 10 of 18
12. We find no pertinent matters of record against the name(s) of the vested owners.
13. The following conveyances were recorded within the last 36 months:
Statutory Warranty Deed recorded under Recording No. 201912300000§3�
Statutory Warranty Deed recorded under Recording No. 20191230000904;
Quit Claim Deed recorded under Recording No. 20200108000855, being a re-record of
20040223001298;
NOTE: The Recording No. of the Deed under which title is held is: 20191230000904.
14. The names of the proposed insured were not furnished in the application for title insurance, and
when disclosed, the commitment will be subject to such matters as may be found by a search of
the records against said names.
The Company reserves the right to add additional items or make further requirements after review
of the requested documentation.
15. Agreement and the terms and conditions thereof:
Recorded: June 1, 1915
Recording No.: 1000311
Regarding: Railway Companies shall construct and maintain an
undergrade private cattle pass upon the premises immediately Easterly of
and contiguous to the present public road crossing to extend entirely across
the 100 foot wide railroad right of way
16. Easement and the terms and conditions thereof:
Grantee: Puget Sound Power & Light Company
Purpose: Electric transmission and/or distribution line(s)
Area affected: a portion of said premises
Recorded: November 3, 1966
Recording No.: 6102607
17. Easement and the terms and conditions thereof:
Grantee: City of Kent, a municipal corporation
Purpose: Sanitary sewer and water lines
Area affected: a portion of said premises
Recorded: March 2, 1967
Recording No.: 6145100
18. Easement and the terms and conditions thereof:
Grantee: City of Kent, a municipal corporation
Purpose: Ingress, egress and utilities
Area affected: a portion of said premises
Recorded: February 16, 1989
Recording No. 8902160057
19. Local Improvement District/Utility Local Improvement District Covenant and the terms and
conditions thereof:
Recorded: March 1, 1989
Recording No.: 8903010123
Regarding: Owner agrees not to protest the formation of an L.I.D. or
U.L. I.D. to finance storm drainage improvements
This page is only apart of a 2016 ALTA® Commitment for Title Insurance, This Commitment is not valid without the Notice; the Commitment to issue Policy; the Commitment
Conditions; Schedule A; Schedule 8, Part I —Requirements; and Schedule B, Part Il— Exceptions; and a counter -signature by the Company or its issuing agent that maybe
in electronic form
Copyright 2006-2016 American Land Title Association. All rights reserved. ar�C
AME0.ICAN
The use of this Form (or any derivative thereof) is restricted to ALTA licensees and
ALTA members in good standing as of the date of use. All other uses are prohibited. r°
Reprinted under license from the American Land Title Association,
Page 11 of 18
20. Easement and the terms and conditions thereof:
Grantee: City of Kent, a municipal corporation
Purpose: Sidewalk, utilities and street lighting
Area affected: a portion of said premises
Recorded: August 11, 1992
Recording No.: 9208110921
21. Signal Participation Covenant Partnership and the terms and conditions thereof:
Recorded: August 11, 1992
Recording No.: 9208110922
22. Easement and the terms and conditions thereof:
Grantee: Puget Sound Power & Light Company
Purpose: Electric transmission and/or distribution line(s)
Area affected: a portion of said premises and includes other property
Recorded: May 4, 1993
Recording No.: 9305041135
23. Easement and the terms and conditions thereof:
Established in Cause No.: 3:11-cv-05274-RBL
Purpose3elecommunications cable system
Area affected:a portion of said premises and affects other property
Recorded: November 15, 2013
Recording No.: 20131115001267
End of Special Exceptions
This page is only a part of a 2016 ALTAO Commitment for Title Insurance. This Commitment is not valid without the Notice; the Commitment to issue Policy; the Commitment
Conditions; Schedule A; Schedule B, Part I —Requirements, and Schedule 8, Part I/— Exceptions; and a counter -signature by the Company or its issuing agent that may be
in electronic form.
Copyright 2006-2016 American Land Title Association. All rights reserved. ■�
The use of this Form (or any derivative thereof) is restricted to ALTA licensees and uNORTir E
ALTA members in good standing as of the date of use. All other uses are prohibited. • WM, N
Reprinted under license from the American Land Title Association.
Page 12 of 18