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Home My WebLink AboutCAG2002-0540 - Other - Vivienne Popke Geroy - Purchase of 23308 100th Ave SE Closing Documents - 04/15/2002 ralt PACIFIC NORTHWEST TITLE Company of Washington, Inc. June 5, 2002 CITY OF KENT ATTN: SHANE GILBERTSON 220 FOURTH AVENUE SOUTH KENT, WA 98032 RE: Our Escrow Number: 63071140 GEROY/CITY OF KENT Property: 23308 100TH AVENUE SOUTHEAST, KENT, WA 98031 Dear Shane: The above-referenced escrow transaction has been completed. We enclose the following: 1. Closing Statement - RETAIN FOR TAX PURPOSES 2 . Check in the amount of $155.18 Real Estate Taxes are Your Responsibility. You will be responsible for payment of the 2nd half 2002 taxes and all real estate taxes thereafter. The first half taxes are delinquent May 1st and the second half taxes are delinquent November 1st. If you do not receive your tax statement, please contact the County Comptroller' s Office directly. We appreciate this opportunity to have been of service to you. Sincerely, VERONICA WHITE - ESCROW ASSISTANT PHONE # (253) 520-0805 Enc. KENT OFFICE 116 Washington Avenue North A Kent,WA 98032-5717 r (253) 520-0805 Fax (253) 520-0864 http//pnwt com • email kent@pnwt corn A. U S DEPARTMENT OF HOUSING AND URBAN DEVELOPMENT B.TYPB OF LOAN OMB No 2502-0265 1 [ IFHA 2 [ IFMHA 3. [ ICONV. UNINS ' 4 [ IVA 5 [ ICONV. INS [XI Cash (6) 6 FILE NUMBER' 7. LOAN NUMBER: Final 1 63071140 8 MTG. INS CASE NO C NOTE This form is furnished to give you a statement of actual settlement costs Amounts paid to and by the settlement agent are shown Items marked ("p o c ")were paid outside the closing they are shown here for information purposes and are not included in the totals D NAME OF BORROWER CITY OF KENT -31 O� ADDRESS 220 FOURTH AVENUE SOUTH, KENT, WA 98032 E NAME OF SELLER VIVIENNE E. GEROY aJ �' ADDRESS 23308 100TH AVENUE SE, KENT, WA 98031 SELLER TIN F NAME OF LENDER o ADDRESS �P 11 ty low � Go G PROPERTY LOCATION Lot TITLE#419987-12 Abe 23308 100TH AVENUE SOUTHEAST KENT WA 98031 Q 40 H SETTLEMENT AGENT PACIFIC NORTHWEST TITLE PHONE NUMBER: (000) 000-0000 ADDRESS 116 WASHINGTON AVENUE NORTH KENT, WASHINGTON 98032 SETTLEMENT AGENT TIN 91-1 202822 PLACE OF SETTLEMENT PACIFIC NORTHWEST TITLE I SETTLEMENT DATE ADDRESS 116 WASHINGTON AVENUE NORTH Closing date 05/01/02 KENT, WASHINGTON 98032 Proration date 05/01/02 I SUMMARY OF BORROWER'S TRANSACTION K SUMMARY OF SELLER'S TRANSACTION 100 GROSS AMOUNT DUE FROM BORROWER 400 GROSS AMOUNT DUE TO SELLER 101 Contract sales price 175,000.00 401 Contract sales price 102 Personal property 402 Personal property 103 Settlement charges to borrower(lme 1400) 975.45 403 104 404 105 405 Adjustments for items paid by seller in advance Adjustments for items paid for seller in advance 106 City/town taxes to 406 City/town taxes to 107 County taxes to 407 County taxes to 108 Assessments to 408 Assessments to 109 409 110 410 111 411 112 412 120 GROSS AMOUNT DUE FROM BORROWER 175,975.45 420 GROSS AMOUNT DUE TO SELLER 200 AMOUNTS PAID BY OR IN BEHALF OF BORROWER 500 REDUCTIONS IN AMOUNT DUE TO SELLER 201 Deposit or earnest money 501 Excess deposit(see instructions) 202 Principal amount of new loan(s) 502 Settlement charges to sellerome 1400) 203 Existing loans)taken subject to 503 Existing loan(s)taken subject to 204 ADDITIONAL BUYER DEPOSIT 175,617.07 504 Payoff of first mortgage loan 205 WORK CHARGE CREDIT 358.38 505 Payoff of second mortgage loan 206 INTEREST EARNED FOR BUYER 155.18 506 207 507 208 508 209 509 Adjustments for items unpaid by seller Adjustments for items unpaid by seller 210 City/town taxes to 510 City/town taxes to 211 County taxes to 511 County taxes to 212 Assessments to 512 Assessments to 213 513 214 514 215 515 216 516 217 517 218 518 219 519 220 TOTAL PAID BY/FOR BORROWER 176,130.63 520 TOTAL REDUCTION IN AMOUNT 300 CASH AT SETTLEMENT FROM/TO BORROWER 600 CASH AT SETTLEMENT TO/FROM SELLER 301 Gross amount due from bormwer(Ime 120) 175,975.45 601 Gross amount due in seller(Ime 420) 302 Less amounts paid by/for borrower(hne 220) 176 130.63 602 Less total reductions in amount due selter(lme 520) 303 CASH[ FROM IN TOI BORROWER 155.18 603 CASH[ TOl l FROM]SELLER We hereby acknowledge receipt of this Settlement Statement and approve the disbursement thereof CITY OF KENT Buyer Seller Buyer Seller Buyer Seller Date Date MIS LOI PAGE 2 OF OMB No 2502-0265 File 63D7t 14o. L. SETTLEMENT CHARGES BORROWER PSELLExS Final FUNDS FUNDS 700 TOTAL SALES/BROKER'S COMMISSION Based on$ @ %= AT SETTLEMENT AT SETTLEMENT Division of Commission(line 700)as follows 701 $ to 702 $ to 703 Commussion paid at settlement 704 800 ITEMS PAYABLE IN CONNECTION WITH LOAN 801 Loan Origination fee % 802 Loan Discount % 803 Appraisal fee to 804 Credit Report to 805 to 806 to 807 to 808 to 809 to 810 to 811 to - 812 to 900 ITEMS REQUIRED BY LENDER TO BE PAID IN ADVANCE 901 Interest from to @$ /day 902 Mortgage utsurance premium for m0 to 903 Hazard insurance premium for yrs to 904 yrs to 905 1000 RESERVES DEPOSITED WITH LENDER 1001 Hazard Insurance mo per mo 1002 Mortgage insurance mo @$ per mo 1003 City property taxes mo @$ per mo 1004 County property taxes mo @$ per mo 1005 Annual assessments(Maud mo @$ per mo 1006 mo @$ per mo 1007 mo @$ per mo 1008 m0 @$ per mo 1009 Aggregate Reserve for Hazard&Flood Ins, City&County Prop Taxes,Mortgage Ins &Annual Assessments 1100 TITLE CHARGES 1101 Settlement or closing fee to PACIFIC NORTHWEST TITLE 924.80 1102 Abstract or title search to 1103 Title examination to 104 Title utsufanze binder_— _ _ _ to— __ 1105 Document preparation to EDWIN C. LAGEROUIST, ATTY 40.00 1106 Notary fee to 1107 Attorney's fee to to (includes above items No 1108 Title insurance to (includes above items No 1109 Lender's coverage $ 1110 Owner's coverage $ 1111 to 1112 to 1113 to 1114 in 1200 GOVERNMENT RECORDING AND TRANSFER CHARGES 1201 Recording fees Deed$ 10.65 Mrtg$ Re] $ 10.65 1202 City/county tax/stamps Deed$ Mrtg$ 1203 Stare tax/stamps Deed$ Mrtg$ 1204 to 1205 to 1206 to 1300 ADDITIONAL SETTLEMENT CHARGES 1301 to 1302 to 1303 to 1304 to 1305 in 1400 TOTAL SETTLEMENT CHARGES(entered on Imes 103,Section I and 502,Section K) 975.45 CERTIFICATION I have carefully reviewed the HUD-1 Settlement Statement and to the best of my knowledge and belief,it is a true and accurate statement of all receipts and disbursements made on my account or by me in this transaction I further certify that I have received a copy of HUD-1 Settlement Statement Borrowers Sellers The HUD-1 Settlement Statement which I have prepared is a true and accurate account of this transaction I have caused or will cause the funds to be disbursed in accordance with this statement Settlement Agent Date WARNING It is a crime to knowingly make false statements to the United States on this or any other similar form Penalties upon conviction can include a fine and imprisonment For details see Title 18 U S Code Section 1001 and Section 1010 PACIFIC NORTHWEST TITLE BankofAmerica �� 63-312 8 9 COMPANY OF WASHINGTON, INC. THANDMADISON �� 1260 i16 WASHINGTON AVE NORTH SEATTLE WASHINOTON KENT, WA 98032 (253) 520-0805 ESCROW NO 63071140 06/05i20 02 63-00031289 PAY ONE HUNDYLU EiE'TY E'IVE; And 18/ 100 DOLLARS **155 . 18 TO CITY OE KENT ESCROW TRUST ACCOUNT ORDER 220 FOURTH AVENUE. SOCTH OF KENT, WA 98032 VOID AFTER 60 DAYS 11'6 3 3 3 26 911' : 12S0000241: 67143 31311' PACIFIC NORTHWEST TITLE DETACH AND RETAIN THIS STATEMENT COMPANY OF WASHINGTON,INC THE ATTACHED CHECK IS IN PAYMENT OF ITEMS DESCRIBED BELOW ESCROW TRUST ACCOUNT IF NOT CORRECT PLEASE NOTIFY US PROMPTLY NO RECEIPT DESIRED 63-3 1 2 8 9 06/ 05/ 02 63071140 **155 . 18 63-00031289 SELLEK. GhRUY BUYER: CITY OE KENT ADDRESS : 23308 100T'H AVENUE; SOUTHEAST KENT WA 98031 Lot 'riv,E�419987-12 REFUND /DUE BUYER/BURRONIIEH $155 . �„l�Y�G�Ga�yl I 419987-12 Date: 30-Apr-02 Time: 01: 50 PM BUYER (S) ESTIMATED CLOSING STATEMENT Prepared by PACIFIC NORTHWEST TITLE COMPANY 116 WASHINGTON AVENUE NORTH KENT, WASHINGTON 98032 (206) 520-0805 Buyer(s) : CITY OF KENT Seller(s) : VIVIENNE E. GEROY Lender: Property: 23308 100TH AVENUE SOUTHEAST KENT WA 98031 Est closing date: 05/01/2002 Proration date: 05/01/2002 Escrow Officer: JEAN JOHNSON File Number: 63071140 DEBIT CREDIT SALES PRICE 175, 000 . 00 DEPOSITS: WORK CHARGE CREDIT 358 .38 REMITTER: PACIFIC NORTHWEST TITLE ESCROW CHARGES : ESCROW CHARGES 924 . 80 PAYEE: PACIFIC NORTHWEST TITLE DOCUMENT PREPARATION FEE 40 .00 PAYEE: EDWIN C. LAGERQUIST, ATTY. RECORDING FEES/TRANSFER CHARGES: RECORDING FEES Deed amount $10 . 65 10 . 65 PAYEE: PACIFIC NORTHWEST TITLE SUBTOTALS: 175, 975.45 358 .38 BALANCE DUE FROM BUYER: 175, 617 . 07 TOTALS : 175, 975. 45 175, 975 .45 The undersigned acknowledge the above information was assembled from sources other than this company and therefore, this company cannot guarantee the accuracy thereof. Interest on existing liens is figured to the date indicated and additional interest may have to be collected, if necessary to secure release from the lienholder. We approve the foregoing settlement statement, in its entirety, authorize payments in accordance therewith and acknowledge receipt of a copy thereof. The Seller and Purchaser further acknowledge that all estimated statements are subject to audit and correction for error and omission. CITY OF KENT Z BY: U ( � (� BY: PACIFIC NORTHWEST TITLE COMPANY BY: Page: 1 PACIFIC NORTHN TEST TITLE Company of Washington, Inc DECLARATION OF ESCROW SERVICES SELLER and PURCHASER/BORROWER acknowledge by their signatures below the following: 1 . That the ESCROW AGENT is not acting as the advocate or representative of either party. 2 . That the documents submitted to this escrow will affect the legal rights of both parties 3 . That the parties interest in the documents may differ. 4 . That each of the parties have a right to be represented by a lawyer of their own selection. 5 . That the undersigned acknowledge that they have been advised that the ESCROW AGENT will not prepare any legal documents in connection with this escrow, and that the undersigned may select an attorney of their own choosing to do so. 6 . That the ESCROW AGENT cannot give legal advice as to the matter in which the documents affect the parties . Received and acknowledged this day of 20 PURCHASER/BORROWER: CITY OF KENT A WASHINGTON MUNICIPAL CORPORATION BY:— (�lf�'�' BY: SELLER: VIVIENNE E. GEROY FKA VIVIENNE POPKE KENT OFFICE 116 Washington Avenue North • Kent,WA 98032-5717 . (253)520-0805 • Fax (253) 520-0864 http//pnwt com • email kent@pnwt com PLEASE TYPE OR PRINT REAL ESTATE EXCISE TAX AFFIDAVIT This form is your receipt PLEASE SEE REVERSE CHAP rER 82 45 RCW -CHAPTER 458-61 WAC when stamped by cashier FOR USE AT COUNTY TREASURER'S OFFICE (Use Form No 84-0001 D for Reporting Transfers of C ontrolling Interest of Entity Ownership to the Department of Revenue) THIS AFFIDAt IT WILL NOT BE ACCEPTED UNLFSS ALL AREAS 1-7 ARE FULLY COMPLETED I. SELLER/GRANTOR 2. BUYER/GRANTEE Name VIVIENNE E. GEROY Name CITY OF KENT A WASHINGTON MUNICIPAL CORPORATION AS HER SEPARATE ESTATE Street 23308 100TH AVENUE SOUTHEAST Street 220 FOURTH AVENUE SOUTH City/State/Zip KENT, WASHINGTON 98031 City/StateZip KENT, WASHINGTON 98032 3. 1 ADDRESS TO SEND ALL PROPERTY TAX ALL TAX PARCEL NUMBERS COUNTY TREASURER PLACE RELATED CORRESPONDENCE ASSESSED VALUE IF TAX EXEMPT Name SAME AS ABOVE GRANTEE 172205-9026-01 Street LC 1525 Ci y(sude/zip Q, LEGAL DESCRIPTION OF PROPERTY SITUATCDIN ❑ UNINCORPORATED COUNTY ❑ ORINCITYOF KENT neet Address(if property is improved) 23308 100TH AVENUE SOUTHEAST KENT, WA 98031 THE NORTH 135 FEET OF THE WEST 330 FEET OF THE SOUTH HALF OF THE NORTHWEST QUARTER OF THE NORTHWEST QUARTER OF THE SOUTHWEST QUARTER OF SECTION 17, TOWNSHIP 22 NORTH, RANGE 5 EAST, W.M. , IN KING COUNTY, WASHINGTONI EXCEPT PORTION THEREOF LYING WITHIN 100TH AVENUE SOUTHEAST. 5. Is this property currently YES NO 6. Description of personal property included in gross selling price,both tangible(eg, furniture,equipment,etc)or intangible(eg, goodwill, Classified or designated as forest land? _ Zi. agreement not to compete,etc) Chapter 84 33 RCW Classified as current use land(open space,farm and agricultural, or timber)?Chapter 84 34 RCW Exempt from property tax as a nonprofit _ organization? Chapter 84 36 RCW If exemption claimed, list WAC number and explanation Seller's Exempt Reg No _____ __ WAC No (Sec/Sub) Receiving special valuation as historic _ Explanation property? Chapter 84 26 RCW Pro erty Type. _land only _land with new budding land with previously used building _land with mobile home Type of Document STATUTORY WARRANTY DEED _timber only _building only Date of Document April 26, 2002 Principal Use _Apt (4fumI) X,residential timber _agricultural _commercial/industrial Gross Selling Price $ 175,000.00 _other Personal Property(deduct) $ 0.00 Taxable Selling Price $ 175, 000.00 8. (t)NOTICE OF CONTINUANCE(RCW 8433 OR RCW 84 34) Excise Tax State $ 2,240.00 If the new owner(s)of land that is classified or designated as cunenl use Local $ 875.00 or forest land wish to continue the classification or designation of such Delinquent Interest State $ 0.00 land,the new owner(s)must sign below If the new owner(s)do not desire Local $ 0.00 to continue such classification or designation,all compensating of Delinquent Penalty $ 0.00 additional tax calculated pursuant to RCW 84 33 120 and 140 m RCW 84 34 108 shall be due and payable by the seller or transferor at the time Total Due $ 3,115.00 of sale The county assessor must determine if the land lranslened A MINIMUM OF$2 00 IS DUE AS A PROCESSING FEE AND TAX qualifies to continue classification or designation and must so indicate below Signatures do not necessarily mean the land will remain in classificalionordesignation If it no longer qualifies,it will be removed 7. AFFIDAVIT and the compensating taxes will be applied All new owners must sign I Certify Under Penally of Perjury Under the Laws of the State of Washington That the Foregoing Is True And Correct This land El doesEl not qualify for continuance Date Signature of DEPUTY ASSESSOR Grantor/Agent (2) NOTICE OF COMPLIANCE(Chapter 84 26 RCW) Name(print) If the new owner(s)of property with special valuation as historic property Date and Place of Signing wish to continue this valuation the new owners most sign below If the new owner(s)doo not not d desire to continue such special�aluahon,all additional tax calculated pursuant to Chapter 84 26 RCW,shall be due and payable by the seller or transferor at the time of sale Signature of 1!1//11�� I/(1 (3) OWNER(S)SIGNATURE Grantee/Agent (4 ,6C 1 Name(print) :f A kid, Date&Place of Signing OJT DL Perjury Perjury is a class C felony which is punishable by imprisonment in the state correctional institution for a maximum term of not more than five years,or by a fine in an amount fixed by the court of not more than five thousand dollars($5,000 00),or both imprisonment and fine(RCW 9A 20 020(1 C)) REV 84 0001a(3-18-99)(PD 09-01-01) FOR TREASURER'S USE ONLY DEP7 OF REVENUE PLEASE TYPE OR PRINT REAL ESTATE EXCISE TAX AFFIDAVIT This form is your receipt PLEASE SEE REVERSE CHAPTER 82 45 RCW - CHAPTER 458-61 WAC when stamped by cashier FOR USE A r COUNTY TREASURER'S OFFICE (Use Fono No 84-000U3 for Reporting Transfers of Controlling Interest of Entity Ownership to the Department of Revenue) 7 HIS AFFIDA3IT WILL NOT RE ACCEPTED UNLESS ALL AREAS 1-7 ARE FULLY COMPLETED 1. SELLER/GRANTOR 2. 1 BUYER/GRANTEE Name VIVIENNE E. GERDY Name CITY OF KENT A WASHINGTON MUNICIPAL CORPORATION AS HER SEPARATE ESTATE Street 23308 100TH AVENUE SOUTHEAST Sheet 220 FOURTH AVENUE SOUTH City/State/Zip KENT, WASHINGTON 98031 CnylStato/Zip KENT, WASHINGTON 98032 3. ADDRESS TO SEND ALL PROPERTY TAX ALL TAX PARCEL NUMBERS COUNTY TREASURER PLACE RELATED CORRESPONDENCE ASSESSED VALUE IF TAX EXEMPT Name SAME AS ABOVE GRANTEE 172205-9026-01 Street LC 1525 City/Stateizip 4• LEGAL DESCRIPTION OF PROPERTY SITUATLO IN ❑ UNINCORPORATLD COUNTY ❑OR IN CITY OF KENT .tree Address(if property is improved) 23308 100TH AVENUE SOUTHEAST KENT, WA 98031 THE NORTH 135 FEET OF THE WEST 330 FEET OF THE SOUTH HALF OF THE NORTHWEST QUARTER OF THE NORTHWEST QUARTER OF THE SOUTHWEST QUARTER OF SECTION 17, TOWNSHIP 22 NORTH, RANGE 5 EAST, W.M. , IN KING COUNTY, WASHINGTON; EXCEPT PORTION THEREOF LYING WITHIN 100TH AVENUE SOUTHEAST. L5J Is this property currently YES NO 6. Description of personal property included in gross selling price,both tangible leg, furniture,equipment,etc)or intangible(eg,goodwill, Classified or designated as forest land? _ X agreement not to compete,etc) Chapter 84 33 RCW Classified as current use land(open space,farm and agricultural, or timber)?Chapter 84 34 RCW Exempt from property tax as a nonprofit _ x orgamzation9 Chapter 84 36 RCW if exemption claimed,list WAC number and explanation Seller's Exempt Reg No _____ __ WAC No (Sec/Sub) Receiving special valuation as historic _ X Explanation property9 Chapter 84 26 RCW ProFerty Type: _land only _land with new building Jl land with previously used budding _land with mobile home Type of Document STATUTORY WARRANTY DEED timber only _budding only Date of Document April 26, 2002 Principal Use: _Apt (4+unit) X residential timber _agricultural _commercial/industrial Gross Selling Price $ 175,000.00 _other Personal Property(deduct) $ 0.00 Taxable Selling Price $ 175,000.00 $. (1)NOTICE OF CON I INUANCE(RCW 8433 OR RCW 84 34) Excise Tax State $ 2,240.00 If the new owner(s)oFland that is classified or designated as current use Local $ 875.00 or forest land wish to continue the classification or designation of such Delinquent Interest State $ 0.00 land,the new owner(s)must sign below If the new owner(s)do not desire Local $ 0.00 to continua such classification or designation,all compensating or Delinquent Penalty $ 0.00 additional tax calculated pursuant to RCW 84 33 120 and 140 or RCW 84 34 108 shall be due and payable by the seller or hansferor at the time Total Due $ 3,115.00 of sale The county assessor must detemnne if the land transferred A MINIMUM OF$2 00 IS DUE AS A PROCESSING FEE AND TAX qualifies to continue classification or designation and must so indicate below Signatures do not nesessar ly mean the land will remain in classification or designation If itno longer qualifies,it will be removed 7. AFFIDAVIT and the compensating taxes will be applied All new owners must sign 1 Certify Under Penalty of Perjury Under the Laws of the State of This land ❑ does ❑ does not qualify for continuance ng Is True And Correct Date / 7 DEPUTY ASSESSOR (2) NOTICE OF COMPLIANCE(Chapter 8426 RCW) - If the new owner(s)of property with speual valuation as historic property i wish to continue this special valuation the new owner(s)must sign below If the new owner(s)do not desire to continue such special valuation,all additional lax calculated pursuant to ChapRr 84 26 RCW,shall be due and payable by the seller or transicioi at the time of sale Signature of (3) OWNER(S)SiGNATURE Grantee/Agent Name(print) k- Date&Place of Signing W-w 54 i 1. Perjury. Perjury is a class C felony which is punishable by imprisonment in the state correctional institution for a maximum term of not more than five years,or by a fine in an amount fixed by the court of not more than five thousand dollars($5,000 00),or both imprisonment and fine(RCW 9A 20 020(1 C)) REV 84 0001a(3-I8-99)(PD 08-01-01) FOR 7REASURER'S USE ONLY COUNTY TREASURER LIMITED ENGAGEMENT LETTER REGARDING PREPARATION OF DOCUMENTS REFERENCE ESCROW NO. 63071140 The law firm of Edwin C Lagergwst, Inc , P S ("ECL") has been requested by VIVIENNE E. GEROY, AS HER SEPARATE ESTATE as Party and CITY OF KENT, A WASHINGTON MUNICIPAL CORPORATION as Party 2 to prepare the documents hereinafter described in connection with the real property commonly known as 23308 100TH AVENUE SOUTHEAST KENT WA 98031 {X} Statutory Warranty Deed and Excise Tax Affidavit LIMITED PREPARATION INFORMATION: The documents shall be consistent with the forms approved by the Washington Supreme Court for preparation by Limited Practice Officers pursuant to APR 12 ("approved forms") and will be prepared in accordance with the information provided by the parties to the escrow agent, Pacific Northwest Title Company of Washington, Inc (Pacific Northwest Title) The parties understand that the only information provided ECL for preparation of the documents will be the legal and personal property descriptions, exceptions to the title, and tax parcel identification numbers consistent with the approved forms and are not tailored to specific fact situations which are in variance with those covered by the approved forms LIMITED SCOPE OF REPRESENTATION:The scope of legal representation by ECL is limited to the preparation of the documents and the parties understand that ECL will not be interviewing the parties and shall in no manner undertake to assist or to render legal advice in connection with this transaction or the above described documents In exchange for the documents, the parties shall pay a fee to ECL This amount will be allocated between the parties as they may agree and disbursed from escrow directly to ECL COMMON REPRESENTATION:The documents prepared by ECL will affect the legal rights of both parties and each by their signatures below hereby consent to the common representation described herein subject to the specified limitations INDIVIDUAL LEGAL REPRESENTATION:The parties understand that their interests in the documents may differ and that each of the parties has a right to be represented by their own attorney, including the right to have their own attorney prepare the documents, and further, to have their attorney present at the closing of this transaction Except as to the preparation of documents as specified herein, ECL is not acting as an advocate or representative of either of the parties ACKNOWLEDGEMENT:The undersigned parties hereby acknowledge that PRIOR TO THE EXECUTION OF ANY DOCUMENTS IN CONNECTION WITH THIS TRANSACTION,THEY 1) HAVE READ THE TERMS OF THIS DOCUMENT, 2) UNDERSTAND THE TERMS OF THIS DOCUMENT, and 3) HAVE HAD AMPLE OPPORTUNITY TO OBTAIN INDEPENDENT LEGAL COUNSEL TO ASSIST THEM IN THIS TRANSACTION MISCELLANEOUS:This document may be executed in one or more counterparts, and all of the counterparts ; shall constitute one and the same agreement, notwithstanding that all parties hereto are not signatories to the same or original counterpart Facsimile transmission of any signed document, and retransmission thereof, shall be the same as delivery of an original At the request of either party, Pacific Northwest Title, or ECL, the parties will confirm facsimile transmitted signatures by signing an original document PARTY 1 PARTY 2 CITY OF KENT (�� x/J� VIVIENNE E. GEROY Date J Date Date Date Date Date Date Date CLOSING ESCROW INSTRUCTIONS PURCHASER: CITY OF KENT, A WASHINGTON MUNICIPAL CORPORATION SELLER: VIVIENNE E. GEROY, AS HER SEPARATE ESTATE DATE: April 30, 2002 ESCROW NUMBER: 63071140 PRELIMINARY TITLE COMMITMENT NUMBER: 419987 PURCHASER AND SELLER HEREIN APPOINT AND APPROVE PACIFIC NORTHWEST TITLE COMPANY OF WASHINGTON, INC. , (hereinafter referred to as ESCROW AGENT) TO ACT AS ESCROW AGENT FOR THIS TRANSACTION. ESCROW AGENT is to be concerned only with the provisions specifically set forth in these instructions, which DO NOT incorporate the terms of the Purchase and Sale Agreement and Addenda (hereinafter referred to as the Agreement) executed by the parties and are not intended to amend, modify or supercede the terms and conditions set forth therein. CONDITIONS THAT SURVIVE ESCROW: The parties hereto agree that there may be certain conditions set forth in the above Agreement which may survive the closing of this escrow and ESCROW AGENT is to assume no responsibility or liability for such compliance. 1. SELLER herein deposits with ESCROW AGENT, pursuant to these instructions, the following: DOCUMENTS (X) Agreement (X) Declaration of Escrow Services (X) Limited Engagement Letter (X) Excise Sales Tax Affidavit (X) Statutory Warranty Deed which ESCROW AGENT is instructed to deliver, release and/or record when ESCROW AGENT has for the account of SELLER $175, 000 . 00, subject to any charges and/or credits authorized herein. 2 . PURCHASER herein deposits with ESCROW AGENT the funds required to close, in the form of a cashier' s check, wired and/or collected funds in accordance with the Collected Funds Law (RCW 18 .44 . 070) ; loan proceeds, if applicable; and the following: DOCUMENTS (X) Agreement (X) Excise Tax Affidavit (X) Declaration of Escrow Services (X) Limited Engagement Letter which sums and documents are required to be deposited prior to closing, and which ESCROW AGENT is instructed to disburse ESCROW INSTRUCTIONS (continued from previous page) ESCROW NUMBER: 63071140 DATE: April 30, 2002 and/or deliver, as required to fulfill these instructions and when it has a policy or policies of title insurance or commitments therefor in the form(s) and amount (s) as follows: Title Commitment/Policy (X) Owner' s ALTA Standard Amount: $175, 000 . 00 The undersigned PURCHASER and SELLER have received, reviewed and approved for use in this escrow the preliminary commitment for title insurance, including any supplementals thereto and have reviewed and approved the legal description and general and special exceptions including the covenants, conditions and restrictions affecting said property as stated on the commitment. The policy or policies issued will contain the insuring clauses, exceptions, exclusions, provisions and stipulations customarily contained in the printed provision of such form(s) and subject to exceptions shown in the preliminary commitment at the following paragraph number (s) : 1 AND 3 THE UNDERSIGNED SELLER HEREBY CERTIFIES THAT THERE ARE NO LIENS AND/OR ENCUMBRANCES AFFECTING SAID PROPERTY OTHER THAN AS SHOWN IN THE PRELIMINARY COMMITMENT. THE PURCHASER AND SELLER CERTIFY THAT THEY HAVE DEPOSITED INTO THIS ESCROW ALL ADDENDA TO THE PURCHASE AND SALE AGREEMENT. THE PURCHASER AND SELLER HAVE EXAMINED AND HEREBY APPROVE FOR USE IN THIS ESCROW THE ABOVE LISTED DOCUMENTS . 3 . A. CLOSING STATEMENTS : ESCROW AGENT shall prepare closing statements which by reference herein are made a part hereof OR otherwise account to the parties for all funds received and disbursed hereunder at the time of final settlement and closing of this escrow. ESCROW AGENT shall not be liable for the accuracy of information furnished to it by other persons in the normal course of business, or the failure to adjust items not designated in writing. The parties hereto agree to pay all their proper costs and fees, including any adjustments. Additional amounts which may become due for any reason shall be promptly paid to ESCROW AGENT by the party owing such amounts. However, any advance made at its option shall be promptly reimbursed by the party for whom it is advanced and such optional advance shall not be an admission of liability on the part of the ESCROW AGENT. B. PRORATIONS: Adjustment items shall be prorated on the basis of a 365 day calendar year. ESCROW AGENT shall account for adjustments, credit and charges of expense items according to the custom and usage of the community. ESCROW AGENT is ESCROW INSTRUCTIONS (continued from previous page) ESCROW NUMBER: 63071140 DATE: April 30, 2002 instructed to prorate as of the actual date of closing, the following: NONE C. ESCROW DEPOSITS: All money received by ESCROW AGENT in this escrow is to be deposited in escrow bank accounts controlled by ESCROW AGENT pending closing. ESCROW AGENT receives banking benefits from non-interest bearing trust account deposits . These benefits may be in the form of but not limited to miscellaneous banking, accounting and computer support services . If an interest bearing account is to be established, ESCROW AGENT must be so advised in writing, prior to the deposit of funds, and furnished with a Federal Tax Identification Number. D. CLOSING: If this escrow has not been placed in a position to close by May 31, 2002, the above items deposited by the parties hereto except earnest money, are to be returned to same upon written demand, at which time PURCHASER and SELLER will pay all charges in connection herewith. In the absence of such written demand, ESCROW AGENT will proceed with closing in an expeditious manner. E. UNCLAIMED PROPERTY: If checks distributed during the closing process to the last known address of the applicable payee (s) remain uncashed, then ESCROW AGENT may charge an annual fee of up to $25 . 00 for custody and administration of the unclaimed property. ESCROW AGENT will make a reasonable attempt to contact applicable payee (s) and reissue check(s) , net of accrued annual fees. Per Washington State law, any remaining unclaimed personal property will be forwarded to the state of Washington five (5) years from the date the uncashed check was issued. 4 . A. UTILITIES : In the event SELLER has not complied with the provisions of RCW 60 . 80, SELLER and PURCHASER waive the services of ESCROW AGENT to satisfy unpaid utility charges and agree to settle final bills outside escrow. This pro- vision includes but not limited to water, garbage, sewer, telephone, metro, electricity, gas and Metro Capacity Charge. ESCROW AGENT shall not be responsible for determination of remaining oil, nor payment thereof. B. FIRE OR CASUALTY INSURANCE: If a new policy of fire, hazard or casualty insurance on the property is required to close the transaction, the PURCHASER will arrange for the policy to be issued, outside of escrow, and will pro- vide evidence of the coverage to the ESCROW AGENT prior to closing. ESCROW AGENT shall have no responsiblity nor liability for obtaining hazard/homeowner insurance. C. INFORMATION TO OTHERS: ESCROW AGENT is authorized and in- structed to furnish, upon request, information concerning this escrow to the listing and/or selling real estate broker, the lender financing this transaction, if any, and attorneys representing the SELLER or PURCHASER. D. FIRPTA: If any seller is a non-resident alien or foreign corporation, partnership, trust or estate for the purposes ESCROW INSTRUCTIONS (continued from previous page) ESCROW NUMBER: 63071140 DATE: April 30, 2002 of United States income taxation, the parties are advised to consult with their attorneys before the closing date to determine their responsibilities under the Foreign Investment in Real Property Tax Act (Section 1445 of IRC) . The closing agent is not required to verify the nationality or foreign status of any of the sellers, or to withhold, report or pay any amounts due under such Act. E. LIABILITY LIMITATIONS: Without limitation ESCROW AGENT shall not be liable for any loss or damage resulting from following: 1. Any default, error, action, omission of, or misrepresenta- tions made by any other party. 2 . The expiration of any time limit or other delay, unless such time limit was known to ESCROW AGENT and such loss is caused solely by failure of ESCROW AGENT to proceed in its ordinary course of business. 3 . Any loss or impairment of funds deposited in escrow in the course of collection or while on deposit with a bank, savings bank or savings association resulting from failure, insolvency or suspension of such institution. 4 . ESCROW AGENT complying with any and all legal process, writs, orders, judgments and decrees of any court whether subsequently vacated, modified, set aside or reversed. F. DISPUTES: Should any dispute arise between the parties, or any of them, and/or any other party, concerning the property of funds involved in the transaction, the ESCROW AGENT may, at its sole discretion, hold all documents and funds in their existing status pending resolution of the dispute, or join or commence a court action, deposit the money and documents held by it with the court, and ask the court to determine the rights of the parties. ESCROW AGENT is authorized to deduct, prior to deposit Of funds in the court, a reasonable sum for costs of attorneys fees and filing fees. Upon depositing said funds and documents with the court, the ESCROW AGENT shall have no further duties or responsibilities under these instructions. G. COUNTERPARTS: These escrow instructions may be executed in counterparts with like effect as if all signatures appeared on a single copy. H. UNDERLYING ENCUMBRANCES : SELLER acknowledges that if any underlying encumbrance (s) is to be paid in full as a part of this escrow, said payoff is based upon a written statement (s) by the Holder/Servicer. Said statement (s) will be updated verbally prior to closing. Interest is to be collected to such date as estimated by the ESCROW AGENT to be sufficient for the Holder/Servicer to have received payoff by regular certified mail or courier. SELLER is responsible for any additional fees, interest or require- ments in order to obtain necessary documents for release of such encumbrance (s) . I. DISBURSEMENTS: Payments disbursed hereunder will conform to the usual and customary practice of the industry and ESCROW AGENT is not responsible for any delays caused by such ESCROW INSTRUCTIONS (continued from previous page) ESCROW NUMBER: 63071140 DATE: April 30, 2002 delivery. J. LOAN FUNDS: In the event any portion of the PURCHASER'S required deposit is in the form of loan funds from a lender, PURCHASER and SELLER authorize recording of the within deposited documents prior to the lender funding their loan. It is understood that SELLER' s proceeds will be disbursed upon receipt of the loan funds from the new lender. K. ADVANCE OF EXCISE TAX: PURCHASER and SELLER acknowledge the Excise Tax, if required must be paid prior to closing and authorize ESCROW AGENT to pay such tax. L. POSSESSION: Delivery of Personal Property or transfer of possession of Real Property or condition of either shall not be a part of this escrow nor an obligation of the ESCROW AGENT. M. THIRD PARTY: PURCHASER and SELLER acknowledge that third party written instructions may be submitted into this escrow. Unless such instructions conflict with these instructions, they shall be incorporated herein. N. FORM 1099-5: In compliance with the Tax Reform Act of 1986, and any amendments thereto, SELLER shall provide all information necessary, including a Taxpayer Identification Number (TIN) , preparation of a Form 1099-5 as required by the Internal Revenue Service. ESCROW AGENT retains the option of not closing the escrow if adequate information is not provided. O. CANCELLATION: These instructions may be cancelled by a written agreement signed by all of the parties. Upon receipt of such agreement and payment of the ESCROW AGENT'S fees, costs and expenses, including but not limited to cancellation fees for title insurance and escrow services, the ESCROW AGENT shall return any money or documents then held by it to the parties that deposited the same, and shall have no further duties or responsibilities under these instructions. P. All contingencies and/or conditions as set forth in the Purchase and Sale Agreement and Addenda have been fully met or waived. ESCROW AGENT is hereby removed from any responsibility and/or liability for same and is instructed to proceed with closing. Q. LEGAL DESCRIPTION. The undersigned PURCHASER and SELLER herein accept, approve and authorize the use of the legal description as evidenced in Preliminary Title Report No. 419987 . I HAVE BEEN AFFORDED ADEQUATE TIME AND OPPORTUNITY TO READ AND UNDERSTAND THESE ESCROW INSTRUCTIONS AND ALL OTHER DOCUMENTS REFERRED TO HEREIN. CITY OF KENT A WASHINGTON MUNICIPAL, CORPORATION ESCROW INSTRUCTIONS (continued from previous page) ESCROW NUMBER: 63071140 DATE: April 30, 2002 BY: BY: DATED: S - Z d '-- Purchaser' s Forwarding Address: 220 FOURTH AVENUE SOUTH, KENT, WA 98032 VIVIENNE E. GEROY FKA VIVIENNE POPKE DATED: Sellers Forwarding Address: 23308 100TH AVENUE SE, KENT, WA 98031 Proceeds check to be: Picked up Mailed: Certified Regular Wired (provide voided check or deposit form)