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HomeMy WebLinkAboutCAG2002-0536 - Original - Schneider Homes, Inc. - Sale of Parcel No. 322205-192 - 05/31/2002 i REAL ESTATE PURCHASE AND SALE AGREEMENT WITH EARNEST MONEY PROVISION This Agreement is entered between the CITY OF KENT, a Washington municipal corporation, ("Seller"), as authorized by the Kent City Council on September 4, 2001, and SCHNEIDER HOMES,INC., a Washington corporation, ('Buyer"), for the sale and purchase of real property as follows: 1. PROPERTY. The property, including all improvements and appurtenances situated thereon, which Buyer agrees to buy and Seller agrees to sell, is known as a portion of King County Tax Parcel No. 322205-192 (the "Property"), and which Property is legally described in Exhibit "A", attached hereto and incorporated herein by this reference. 2. EARNEST MONEY. Received from Buyer, Ten Thousand and No/100 Dollars ($10,000.00), as earnest money and partial payment on the purchase price. 3. PURCHASE PRICE. The total purchase price for the Property is ONE HUNDRED SEVENTY FIVE THOUSAND and No/100 Dollars ($175,000.00), including earnest money, payable on closing. 4. CONTINGENCIES. This agreement is contingent upon: (a) Buyers' review and approval of the condition of title to the Property as seen in Title Report number 466223, attached hereto as Exhibit "C" and incorporated here in by this reference. Buyer shall have until the end of the Due Diligence Period described in subparagraph(b)below to notify Seller of its approval of the condition of title. REAL ESTATE PURCHASE AND SALE AGREEMENT (February 19,2002) (between City of Kent and Schneider Homes,Inc.)-Page 1 of 8 (b) A feasibility Study as follows: (1) Buyer shall have a period of ninety (90) days, (the Due Diligence Period) in which to conduct an examination and review of all issues related to the property. The Due Diligence Period shall commence upon mutual acceptance of the Agreement. During the Due Diligence Period, the Seller shall give the Buyer and its agents and consultants full access to the Property. Buyer shall repair any damage to the property caused by Buyer, its employees or agents during inspection and shall protect, defend and hold Seller harmless from any claims, liabilities, costs or liens that may be filed against the Seller or the Property as a result of such due diligence investigation. (2) Buyer's feasibility study may include (but is not limited to) a Phase I and/or Phase II environmental assessment, utilities availability and capacity, access availability, zoning, preliminary architectural and engineering studies, and marketing feasibility. (3) Buyer's obligations under the Agreement shall be expressly subject to its approval of the Property and the results of its due diligence review of the Property, such approval to be determined by Buyer in its sole and absolute discretion. Buyer shall deliver written notice to Seller and the escrow company prior to the expiration of the Due Diligence Period that it has either: (a) elected to terminate this Agreement, whereupon the escrow company shall refund the deposit to Buyer and this Agreement shall terminate, and neither party hereto shall have any further rights or obligations under this Agreement; or (b) Buyer has elected to proceed with the purchase of the Property,in which event the Deposit shall be paid to Seller and shall not be refundable to Buyer except as otherwise expressly provided in this Agreement, or upon breach of this Agreement by Seller. If Buyer fails to deliver written notice to Seller and the escrow company prior REAL ESTATE PURCHASE AND SALE AGREEMENT (February 19,2002) (between City ojKent and Schneider Homes,Inc)-Page 2 of 8 to the expiration of the Due Diligence Period,Buyer shall be deemed to have not approved its inspection and to have elected not to proceed with the purchase of the Property. Should any of these 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 held in Pacific Northwest Title,by Buyer to Sellers shall be returned to Buyer. 5. CONVEYANCE AND CONDITION OF TITLE. The title to the real 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 of the attached Exhibit C and Paragraph 9 below. 6. TITLE INSURANCE. Title to the Property shall be conveyed by Seller to Buyer by a Statutory Warranty Deed free and clear of all liens, encumbrances or other defects except as set for with in schedule B in the attached Exhibit C. Buyer shall have the right to obtain an ALTA"as built"survey of the Property from a licensed surveyor or civil engineer acceptable to Buyer at its sole cost and expense. 7. CLOSING COSTS AND PRO-RATIONS. Seller shall pay the premium for a standard coverage owner's policy of title insurance in an amount equal to the Purchase Price, all real estate excise taxes and the cost of any documentary or other transfer taxes applicable to the sale. The escrow fee shall be borne equally by Seller and Buyer. Buyer shall pay all recording costs, any increase in the title insurance premium attributable to extended coverage, the costs of any survey, and the fees and expenses of its consultants. All revenues and expenses of the Property, including but not limited to, real property taxes, special assessments,rents, water, sewer and utility charges, shall be prorated on the day of Closing. REAL ESTATE PURCHASE AND SALE AGREEMENT (February 19,2002) (between City of Kent and Schneider Homes,Inc.)-Page 3 of 8 8. CLOSING OF THE SALE. Closing shall occur on or before twenty-four (24) months from mutual acceptance or within thirty(30) days after Buyer has obtained preliminary plat approval, whichever occurs first. Closing shall occur at Pacific Northwest Title located at 116 Washington Avenue North, Kent, Washington. 9. RESERVATION OF EASEMENT. The Statutory Warranty Deed shall reflect that Seller is reserving an easement for ingress and egress for slope embankment maintenance, as described in the attached Exhibit"B" incorporated herein. 10. FUTURE EASMENTS. The Seller agrees to grant to Buyer, for fair market value consideration, necessary easements for utility purposes over real property owned by Seller for the benefit of the Property. 11. AS-IS. Buyer has been allowed to make an inspection of the Property and has knowledge as to the past use of the Property. Based upon this inspection and knowledge, Buyer is aware of the condition of the property and BUYER IS AWARE THAT BUYER IS PURCHASING THE PROPERTY ON AN"AS-IS WITH ALL FAULTS"BASIS WITH ANY AND ALL PATENT AND LATENT DEFECTS,INCLUDIN THOSE RELATING TO THE ENVIRONI�NTAL CONDITION OF THE PROPERTY,AND THAT BUYER IS/ARE NOT RELYING ON ANY REPRESENTATION OR WARRANTIES, EXPRESS OR IMPLIED, OF ANY IHND WHATSOEVER FROM SELLER AS TO ANY MATTERS CONCERNING THE PROPERTY, including the physical condition of the Property and any defect thereof, the presence of any hazardous substances, wastes or contaminants in, on or under the Property, the condition or existence of any of the above ground or underground structures or improvements in, of or under the property, the condition of the property, and the leases, easements or other agreements affecting the property. Buyer is aware of risk that hazardous substances and contaminants may be present on the Property, and indemnifies,holds harmless and hereby waives,releases and discharges forever Seller from any and all present or future claims or demands, and any and all damages, loss, injury,liability, claims or costs,including fines,penalties and judgments, and attorney's fees, arising REAL ESTATE PURCHASE AND SALE AGREEMENT (February 19,2002) (between City of Kent and Schneider Homes,Inc.)-Page 4 of 8 from or in any way related to the condition of the property or alleged presence, use, storage, generation, manufacture, transport, release, leak, spill, disposal or other handling of any hazardous substances or contaminants in,on or under the property. Losses shall include without limitation(a) the cost of any investigation, removal, remedial or other response action that is required by any Environmental Law, that is required by judicial order or by order of or agreement with any governmental authority, or that is necessary or otherwise is reasonable under the circumstances; (b) Losses for injury or death of any person; and (c) Losses arising under.any Environmental Law enacted after transfer. The rights of Seller under this section shall be in additional to and not in lieu of any other rights or remedies to which it may be entitled under this document or otherwise. This indemnity specifically includes the obligation of Buyer to remove, close, remediate, reimburse or take other actions requested or required by any governmental agency concerning any hazardous substances or contaminants on the Property. The term "Environmental Law"means any federal, state or local statute, regulation, code, rule, ordinance, order,judgment, decree, injunction or common law pertaining in any way to the protection of human health or the environment, including without limitation, the Resource Conservation and Recovery Act, the Comprehensive Environmental Response, Compensation and Liability Act, the Toxic Substances Control Act, and any similar or comparable state or local law. The term "Hazardous Substance" means any hazardous, toxic, radioactive or infectious substance, material or waste as defined, listed or regulated under any Environmental Law, and includes without limitation, petroleum oil and any of its fractions. 12. CASUALTY LOSS. If prior to closing, improvements on said premises shall be destroyed or materially damaged by fire or other casualty, this agreement, at option of the Buyer, shall become null and void. 13. 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 REAL ESTATE PURCHASE AND SALE AGREEMENT (February 19,2002) (between City of Kent and Schneider Homes,Inc.)-Page 5 of 8 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. 14. 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. 15. 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 Seller shall be addressed as follows: Jerry McCaughan City of Kent 220 Fourth Avenue South Kent, Washington 98032 (b) All notices to be given to Buyer shall be addressed as follows: Kenneth E. Peckman Schneider Homes, Inc. 6510 Southcenter Blvd, Suite#1 Tukwila, Washington 98188 REAL ESTATE PURCHASE AND SALE AGREEMENT (February 19,2002) (between City of Kent and Schneider Homes,Inc.)-Page 6 of 8 (c) All notices to be given to Escrow Agent shall be addressed as follows: Jean Johnson Pacific Northwest Title 116 Washington Avenue North Kent, Washington 98032 Either party hereto may,by written notice to the other, designate such other address for the giving of notices as being 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 paragraph. 16. 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. 17. BINDING EFFECT AND SURVIVAL. This Agreement shall be binding upon parties hereto and their respective heirs, successors and assigns; and the terms, conditions and provisions of this Agreement shall survive the closing of this transaction. 18. 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. 19. EXPIRATION OF OFFER Buyer shall have only until 5:00 p.m. on the 31st day of May, 2002, to accept the purchase and sale agreement as written, by delivering a signed copy thereof to the Seller. If Buyer does not so deliver a signed copy within said period,this agreement shall lapse and all right of the parties hereunder shall terminate. REAL ESTATE PURCHASE AND SALE AGREEMENT (February 19,2002) (between City of Kent and Schneider Homes,Inc.)-Page 7 of 8 IN WITNESS WHEREOF, the parties hereto have executed this Agreement on the date set forth below. SELLER: BUYER: CITY OF KENT SCHNEIDER HOMES, INC. By; Kjf4 By. m White, May r Its: Dated. 5-3 I -O a Dated: By: Its: Dated: APPROVED AS TO FORM: By: TOM BRUBAKER, City Attorney P%0viTT1LES',0pcnFlcs'0I77-20021SchnctdffHomesREPSA doc REAL ESTATE PURCHASE AND SALE AGREEMENT (February 19,2002) (between City of Kent and Schneider Homes,Inc.)-Page 8 Of 8 EXHIBIT "A" THAT PORTION OF THE SOUTH 251 FEET OF THE WEST HALF OF THE NORTHWEST QUARTER OF THE NORTHEAST QUARTER OF THE NORTHWEST QUARTER OF SECTION 32, TOWNSHIP 22 NORTH, RANGE 5 EAST, W.M., IN KING COUNTY, WASHINGTON, LYING NORTH OF THE FOLLOWING DESCRIBED LINE: BEGINNING AT A POINT ON THE WEST LINE OF SAID SUBDIVISION, 72.31 FEET NORTH OF THE SOUTHWEST CORNER THEREOF BEING THE TRUE POINT OF BEGINNING OF THE LINE HEREIN DESCRIBED. THENCE SOUTH 79017'46" EAST, A DISTANCE OF 328.55 FEET MORE OR LESS TO A POINT ON THE EAST LINE OF SAID SUBDIVISION, WHICH POINT LIES 22.50 FEET NORTH OF THE SOUTHEAST CORNER THEREOF BEING THE TERMINUS OF SAID LINE. Exhibit B RESERVATION OF ACCESS EASEMENT FOR SLOPE EMBANKMENT MAINTENANCE Grantor does hereby reserve for Grantor, its successors and/or assigns, an easement for ingress and egress for the purpose of slope embankment maintenance upon the following described property situated in King County, Washington("Easement Area"): SEE EXHIBIT `B"ATTACHED No obstructions of any kind whatsoever shall be allowed within the Easement Area that would impede the ingress and egress for slope embankment maintenance purposes. Grantor shall have the right, but not the obligation, to enter the Easement Area to remove obstructions and to maintain the Easement Area for its intended use. Grantee shall retain the right to use the surface of the Easement Area so long as that use does not interfere with the uses reserved by Grantor. Grantor shall at all times exercise its rights under this reservation of easement in accordance with the requirements of all applicable statutes, orders, rules and regulations of any public authority having jurisdiction. Grantor accepts the easement area in its present physical condition, AS IS. Grantor does hereby release, indemnify and promise to defend and save harmless Grantee from and against any and all liability, loss, damage, expense actions and claims, including costs and reasonable attorney's fees incurred by Grantee in connection therewith, arising directly or indirectly on account of or out of the exercise by Grantor, its servants, agents, employees and contractors of the rights reserved in this easement. This easement shall be a covenant running with the land forever and shall be binding on the Grantor's successors, heirs, and assigns. RESERVATION OF ACCESS EASEMENT—SLOPE EMBANKMENT MAINTENANCE-Page 1 (between City of Kent and Schneider Homes, Inc) EXHIBIT "B" OVER THE SOUTHERLY 15.00 FEET AND OVER THE WESTERLY 15.00 FEET OF THE FOLLOWING DESCRIBED PROPERTY: THAT PORTION OF THE SOUTH 251 FEET OF THE WEST HALF OF THE NORTHWEST QUARTER OF THE NORTHEAST QUARTER OF THE NORTHWEST QUARTER OF SECTION 32, TOWNSHIP 22 NORTH, RANGE 5 - EAST, W.M., IN KING COUNTY, WASHINGTON, LYING NORTH OF THE FOLLOWING DESCRIBED LINE: BEGINNING AT A POINT ON THE WEST LINE OF SAID SUBDIVISION, 72.31 FEET NORTH OF THE SOUTHWEST CORNER THEREOF BEING THE TRUE POINT OF BEGINNING OF THE LINE HEREIN DESCRIBED. THENCE SOUTH 79017'46" EAST, A DISTANCE OF 328.55 FEET MORE OR LESS TO A POINT ON THE EAST LINE OF SAID SUBDIVISION, WHICH POINT LIES 22.50 FEET NORTH OF THE SOUTHEAST CORNER THEREOF BEING THE TERMINUS OF SAID LINE. E�11l e /7G PACIFIC NORTHWEST TITLE COMPANY OF WASHINGTON, INC. 215 Columbia Street Seattle, Washington 98104-1511 Senior Title Officer, Mike Sharkey (mikesharkey@pnwt.com) Title Officer, Curtis Goodman (curtisgoodman@pnwt.com) Title Technician, Kim Pellegrini (kimpellegrini@pnwt.com) Unit No. 12 FAX No. (206) 343-1330 Telephone Number (206) 343-1327 City of Kent 220 Fourth Avenue South Title Order No. : 466223 Kent, WA 98032 Attention: Jerry McCaughan Your Ref. : 272nd/88-3011 THIRD REPORT A. L. T. A. COMMITMENT SCHEDULE A Effective Date: February 15, 2002, at 8:00 a.m. 1. Policy(ies) to be issued: A. ALTA Owner's Policy Amount TO BE AGREED UPON Standard (X) Extended ( ) Premium Tax (8.8%) Proposed Insured: TO FOLLOW NOTE: IF EXTENDED COVERAGE FOR OWNERS OR LENDERS WILL BE REQUIRED FOR A PENDING TRANSACTION, PLEASE NOTIFY US AT LEAST ONE WEEK PRIOR TO CLOSING SO THAT WE MAY INSPECT THE PREMISES. B. WORK CHARGES Amount $ 330.00 Tax (8.8%) $ 29.04 2. The Estate or interest in the land described herein and which is covered by this commitment is fee simple. 3. The estate or interest referred to herein is at Date of Commitment vested in: CITY OF KENT, a municipal corporation 4. The land referred to in this commitment is situated in the State of Washington, and described as follows: As on Schedule A, page 2, attached. Order No. 466223 A.L.T.A. COMMITMENT SCHEDULE A Page 2 The land referred to in this commitment is situated in the State of Washington, and described as follows: That portion of the south 251 feet of the west half of the northwest quarter of the northeast quarter of the northwest quarter of Section 32, Township 22 North, Range 5 East, W.M. , in King County, Washington, lying north of the following described line: Beginning at a point on the west line of said subdivision, 72.31 feet north of the southwest corner thereof being the TRUE POINT OF BEGINNING of the line herein described; Thence south 79017146" east, a distance of 328.55 feet more or less to a point on the east line of said subdivision, which point lies 22.50 feet north of the southeast corner thereof being the terminus of said line. END OF SCHEDULE A NOTE FOR INFORMATIONAL PURPOSES ONLY: The following may be used as an abbreviated legal description on the documents to be recorded, per amended RCW 65.04. Said abbreviated legal description is not a substitute for a complete legal description within the body of the document. Ptn. NW 32-22-05 r PACIFIC NORTHWEST TITLE COMPANY OF WASHINGTON, INC. A.L.T.A COMMITMENT Schedule B Order No. 466223 I. The following are the requirements to be complied with: A. Instruments necessary to create the estate or interest to be insured must be properly executed, delivered and duly filed for record. B. Payment to or for the account of the grantors or mortgagors of the full consideration for the estate or interest to be insured. II. Schedule B of the Policy or Policies to be issued J(as set forth in Schedule A) will contain exceptions to the following matters unless the same are disposed of to the satisfaction of the Company: A. Defects, liens, encumbrances, adverse claims or other matters, if any created, first appearing in the public records or attaching subsequent to the effective date hereof but prior to the date the proposed Insured acquires for value of record the estate or interest or mortgage thereon covered by this Commitment. B. GENERAL EXCEPTIONS: 1. Rights or claims of parties in possession not shown by the public records. 2. Public or private easements, or claims of easements, not shown by the public record. 3 . Encroachments, overlaps, boundary line disputes, or other matters which would be disclosed by an accurate survey or inspection of the premises. 4. Any lien, or right to a lien, for services, labor or material heretofore or hereafter furnished, imposed by law and not shown by the public records, or Liens under the Workmen's Compensation Act not shown by the public records. 5. Any title or rights asserted by anyone including but not limited to persons, corporations, governments or other entities, to tide lands, or lands comprising the shores or bottoms of navigable rivers, lakes, bays, ocean or sound, or lands beyond the line of the harbor lines as established or changed by the United States Government. 6. (a) Unpatented mining claims; (b) reservations or exceptions in patents or in Acts authorizing the issuance thereof; (c) water rights, claims or title to water. 7. Any service, installation, connection, maintenance, capacity, or construction charges for sewer, water, electricity or garbage removal. 8. General taxes not now payable or matters relating to special assessments and special levies, if any, preceding the same becoming a lien. 9. Indian tribal codes or regulations, Indian treaty or aboriginal rights, including, but not limited to, easements or equitable servitudes. C. SPECIAL EXCEPTIONS: As on Schedule B, attached. Order No. 466223 A.L.T.A. COMMITMENT SCHEDULE B Page 2 SPECIAL EXCEPTIONS: NOTE FOR INFORMATION PURPOSES ONLY: EFFECTIVE JANUARY 1, 1997, AND PURSUANT TO AMENDMENT OF WASHINGTON STATE STATUTES RELATING TO STANDARDIZATION OF RECORDED DOCUMENTS, THE FOLLOWING FORMAT AND CONTENT REQUIREMENTS MUST BE MET. FAILURE TO COMPLY MAY RESULT IN REJECTION OF THE DOCUMENT BY THE RECORDER. FORMAT: MARGINS TO BE 3" ON TOP OF FIRST PAGE, 1" ON SIDES AND BOTTOM - 1-- ON TOP, SIDES AND BOTTOM OF EACH SUCCEEDING PAGE. RETURN ADDRESS IS ONLY ITEM ALLOWED WITHIN SAID 3" MARGIN. NOTHING WITHIN 1" MARGINS. FONT SIZE OF 8 POINTS OR LARGER AND PAPER SIZE OF NO MORE THAN 8 1/2" BY 14" . NO ATTACHMENTS ON PAGES SUCH AS STAPLED OR TAPED NOTARY SEALS; PRESSURE SEALS MUST BE SMUDGED. INFORMATION WHICH MUST APPEAR ON THE FIRST PAGE: RETURN ADDRESS, WHICH MAY APPEAR WITHIN THE UPPER LEFT HAND 3" MARGIN. TITLE OR TITLES OF DOCUMENT. IF ASSIGNMENT OR RECONVEYANCE, REFERENCE TO RECORDING NUMBER OF SUBJECT DEED OF TRUST. NAMES OF GRANTOR(S) AND GRANTEE(S) WITH REFERENCE TO ADDITIONAL NAMES ON FOLLOWING PAGES, IF ANY. ABBREVIATED LEGAL DESCRIPTION (LOT, BLOCK, PLAT NAME, OR SECTION, TOWNSHIP, RANGE AND QUARTER QUARTER SECTION FOR UNPLATTED) . ASSESSOR'S TAX PARCEL NUMBER(S) . (continued) Order No. 466223 A.L.T.A. COMMITMENT SCHEDULE B Page 3 SPECIAL EXCEPTIONS (continued) : �+ 1. PETITION FOR ANNEXATION AND DECLARATION OF COVENANT AS HERETO ATTACHED: l 1ZVI' DECLARATION DATED: Not disclosed RECORDED: June 9, 1986 P,C ry'.. ! �'- RECORDING NUMBER: 8606090228 W lL 2 . The real property as described herein may not comply with ' local platting ordinances. Title insurance policies do not provide coverage for loss by reason of this matter. i 3. CITY OF KENT ORDINANCE NO. 3171: RECORDED: July 28, 1994 ar�,jY'ti RECORDING NUMBER: 9407281510 4 . CITY OF KENT ORDINANCE NO. 3207: f RECORDED: February 17, 1995 RECORDING NUMBER: 9502170637 5. The property herein described is carried on the tax rolls as exempt; however, it will become taxable from the date of transfer to a taxable entity. TAX ACCOUNT NUMBER: 322205-9192-00 NOTE: PLEASE CONTACT THE KING COUNTY ASSESSORS OFFICE TO VERIFY THE TAX AMOUNT DUE, AS EXEMPT TAXES ARE SUBJECT TO CHANGE WITHOUT NOTICE, THE TELEPHONE NUMBER IS 206-296-5151. 6. SPECIAL TAXES AND CHARGES: FIRST HALF DELINQUENT MAY 1, IF UNPAID: SECOND HALF DELINQUENT NOVEMBER 1, IF UNPAID: YEAR: 2002 TAX ACCOUNT NUMBER: 322205-9192-00 AFFECTS: Includes other property AMOUNT BILLED AMOUNT PAID AMOUNT DUE SPECIAL DISTRICT: $5.00 $0.00 $5.00 (continued) Order No. 466223 A.L.T.A. COMMITMENT SCHEDULE B Page 4 7. Payment of Real Estate Excise Tax, if required. The property described herein is situated within the boundaries of local taxing authority of City of Kent. Present Rate of Real Estate Excise Tax as of the date herein is 1.78%. B. Until the amount of the policy to be issued is provided to us, and entered on the commitment as the amount of the policy to be issued, it is agreed by every person relying on this commitment that we will not be required to approve any policy amount over $100,000, and our total liability under this commitment shall not exceed that amount. 9. Notwithstanding the insuring clauses of this policy, the Company does not insure against any loss or damage by reason of lack of access to and from the land. This paragraph will be removed from the final title policy if the property herein described is sold to an adjoining property owner with adequate access. NOTE 1: The name and address of the current taxpayer according to the King County Assessors record is: City of Kent Customer Services 220 4th Avenue South Kent, WA 98032 NOTE 2 : With the sale of the property herein described it is advisable to reserve an easement to provide for insurable access to the remaining tax parcel owned by the City of Kent. END OF SCHEDULE B Title to this property was examined by: Curtis Goodman Any inquires should be directed to one of the title officers set forth in Schedule A. CG/KE/cg/can Portion of the NW 1/4 r 32-22-5 >4 x w -T.C. 301.1l3 _ •C.FITZHCNR'f RD SE 272 NO ST �....�......,.,..,,,,,,,, 3].f•1� 31•f�'IJ J• ,v,.,, /is-.7•,J� ,tis.as 1 2 IZ KCSP3791W A.f.0002290779 ' t 1 ��liTd =� L•f � � I Z , 1 ,t' .IM i ..s..a•.t.• i I w„••aw.r. •.a s• iJ 6 :1 ' i 1^i LiT 2 A;© O 40 �0� � .. .]o• w esn w v v 1 ty/ I , �� h C Oi • r Q _ 5 79 17'It! 71�+ lJt•s! �� 3 Js�-.F�.� u�aa •Qn u w � v I LOT 1 o M IAO LOT 2 $ & fh. XCJP 48053-82MZ0474 �y 3�M�y Z 2. :. ItE1L► LL q} A9�SZSgOIEm ' • `t' � er' r• '�. k- W tea r r�• - .•!sc• —___RL____.e__ PACIFIC NORTHWEST TITHE Order No. 466223 N Company of Washington, Inc. IMPORTANT: This is not a Plat of Survey. It is famished as a convenience to locate the land indicated hereon with reference to'streets and other land. No liability is assumed by reason of reliance hereon. 1 � I I I 15.00' I N 88'00'57". W 325.12 310.12' i � I n I � co I W I `D U-5 N 322205-9192 p NLo N z j N 15.16' w �n o N :V cn 1516— N 7 `V z _ �328,55, 1 N S 79.17' 6 E �=5 16, 22.50' _ S 88.001573' E 325.17' — — TOP OF BANK (i.e. CUT) CITY OF KENT ENGINEERING DEPARTMENT • KENT ...wuorer DESIGNED SCALE DRAWN CHECKED DATE 1-2-02 atr DOMNM APPRGVED