HomeMy WebLinkAboutEC17-206 - Other - Marquee on Meeker - Phase I - Section 05: Memorandum of Lease - 04/02/2018Section 5
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WHEN RECORDED RETURN TO:
Fester Pepper PLLC
111'1 Third Avenue, Sulte 3000
Sealtle, t\lA 98101
Attention; Beth A. Clark ,,*?*l$;N*k.,
Document Title:
Grsntor:
Grantea:
Legal Description:
1$T ht't'
Memorandurn of Lease {with option to purchase)
Abbreviatod Legal Descriplion: Lots 3, 4 and F, Kent Sp
No. SP-?017-1, Rec. 20180321900004
Full Legal Description: See Fxhibit A attached
Assersor'r Tax Parcel Nos.: Ptn of Z3ZZAA-9A|r}l
REferEncs Noe, of Documents Released or Asslgned: Not applicable
, 2. Pr{pose of Memorar'ldum. This Memorandum is prepared for purpo$es
of giving notice of the Lease/option Agreement and does nat set t6*n att of ihe terms
and conditions set forth in the Lease/Option Agreement. lf there is any conflict
between the tems and conditions of the Leasel0ption Agreemenl bnd this
Itdemorand um, the LeaselOptio n Agreemenl shall co ntrcl.
MEMORANDUM OF LEA$E {with option to purchase)
THls MEMORANDUM oF LEASE (with option to purchase) (the
"Memorandum") is executed this 2rd day of 'Apf;t'
. ?01g, by and betwlen
Marguee on Meeker LLG, a washington limited liability company ("optionee"), and
the City of Kent, a Washington rrunicipal corporation (',Optionori),
1, Lease/Optiorl, Optionor has leasod certain real prcperty located in the
City of Kent, Washinglon, and more particularly described in Exhibit A attached
hereto {the "Property") to Optionee pursuant to that cerlain Lease {with option to
purchase) of even date herewith (the ''Leaseloption Agreement"). opllonor has
also granted Optionee an option tc purchase the Property for a price bnd on the
terms and conditions set forth in the Leaseloption Agreement.
,2v1tt7 i
3 Termination. This Memorandum shall automatically terminate and be
released as a lien on title to the Property without furlher action of the parties upon the
earlier of {i)the Closing of the sale of the Property pursuant to the LeaselOption
Agreement, or (ii) termination of the Lease/Option Agreement in accordance with itsterms. Without limiting the automatic termination set forth above, Optionee agrees,
upon the request of Optionor after the earliest to occur of the foregoing events, lo
execute such docurnentatton as may be reasonably requested by Opilonor in order to
fully release this Memorandum from tiile to the property
This Memorandum is made as of the date first writien above.
OPTIONOR:
CITY OF KENT, A
Washington municipal corporation
Dana Ralph, Mayor
OPTIONEE:
MARQUEE ON MEEKER LLC, a Washington
limited liability company
By: The Missing Links LLC, its Manager
Brett Jacobsen, Manager
,
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3: Termination. This Memorandum shall automatically terminate and be
released as a lien on title to the Property without further action of itre parties upon theearlier of (i) the Closing of the sale of the Property pursuant to the Lease/Option
Agreement, or (ii) termination of the Leaseloption Agreement in accordance with itsterms" Without limiting the automatic termination set forth above, Optionee agrees,
upon the request of Optionor after the earliest to occur of the foregoing events, to
execute such documentation as may be reasonably requested by Optionor in order to
fully release this Memorandum from tiile to the property.
This Memorandum is made as of the date first witten above,
OPTIONOR:
CITY OF XENT, A
Washington municipal corporation
Dana Ralph, Mayor
OPTIONEE:
IIIARQUEE ON MEEKER LLC, a Washington
limited liability company
LLC, its Manager
Brett Manager
TheBy:
2
529?151-r I
STATE OF WASHINGTON
COUNTY OF KING
Given under my hand and officialsealthis ?.Laay of d"
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STATE OF WASHINGTON
COUNJTY OF KING
IPrint
NOT UBLIC in and fo the state
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I ce(ify that I know or have satisfactory evidence that Dana Ralph is the person whoappeared before me, and said individual acknowledged that she signed this instrumentas Mayor and acknowledged it to be her free and vlluntary act of ine City of Kent forlhe uses and purposes mentioned in lhe instrument
s
2018
50lJ *p"
of Washingtcn, residing
My appointment expires
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I certify that I know or have satisfactory evidence thai Srett Jacobsen is the person whoappeared before me, and said individual acknowledged that he signed this instrumenlas the Manager of The Missing Links LLC, the Maniger of Marqriee on Meeker LLCand acknowledged it 1o be his free and voluntary act for ihe uses and purposesmentioned in the instrument.
Given under my hand and official sear this _- day of _--_ ,201g.
[Print Name]
NOTARY PUBLIC in and for the state
of residing in
My appointment expires
3
STATE OF WASHINGTON )
COUNTY OF KING ) $
I certify that I know or have satisfactory evidence that Dana Ralph, is the person whoappeared before me, and said individual acknowledged that she signed this instrumentas Mayor and acknowledged it to be her free and vlluntary act of ine City of Kent forthe uses and purposes mentioned in the instrument.
Given under my hand and official sealthis _ day of 2018
{Print Namel
NOTARY PUBLIC in and for the staie
of Washington, residing in
My appointment expires
STATE OF WASHINGTON
COUNTY OF KING
)
i$
)
I certify that I know or have satisfactory evidence that Brett Jacobsen is the person whoappeared before me, and said individual acknowledged that he signed this instrument
as. the Manager of Marquee on Meeker LLc and Jcknowledged i to oe his tree andvoluntary act forthe uses and purposes mentioned in the instrument.
Given under my hand and official seal this 3ot OaV
?o\rr.o
[Print Name]
NOTARY PUBLI
of t\qtc-\2A18
of \roreln\,roto,r
My appointment expires
for the state
residino ;n 5a\*\c-
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C in and
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ExhibitA
Legal Description of LeaselOption property
LOTS 3,4 AND 5 OF CITY OF KENT SHORT P1AT NO. SP-2017-1, RECORDED
UNDER RECORDING NO. 20180321900004, IN KING COUNTY, WNiHINETON.
J 529n5r?.t
Exhibit A