HomeMy WebLinkAboutCAG2024-153 - Original - Jian Li and Sio Wan Chou - Second and Meeker Property Purchase (302 & 308 West Meeker) - 03/25/2024 FOR CITY OF KENT OFFICIAL USE ONLY
Sup/Mgr:
Agreement Routing Form DirAsst:
• For Approvals,Signatures and Records Management Dir/Dep:
KEN T This form combines&replaces the Request for Mayor's Signature and Contract Cover (optional)
W A S H I N G T O N Sheet forms. (Print on pink or cherry colored paper)
Originator: Department:
T. Reyes-Selden for A. Long Parks, Recreation & Community Services
Date Sent: Date Required:
> 03/25/2024
0
Q Mayor or Designee to Sign. Date of Council Approval:
!Z
Q Interlocal Agreement Uploaded to Website
Budget Account Number: Grant? Yes Nom
Budget? Yes F—]No Type: N/A
Vendor Name: Category:
Jian Li (Dian Li Chou) and Sio Wan Chou Purchase/Sale
Vendor Number: Sub-Category:
Original
0
Project Name: 2nd and Meeker Property Purchase (302 W Meeker St & 308 W Meeker St)
OProject Details: Real Estate Purchase and Sale agreement between the City of Kent and Jian
Li (who took title as Jian Li Chou) and Sio Wan Chou, related to 2nd and
Meeker Property Purchase.
C
Basis for Selection of Contractor:
Agreement Amount: $347,000 Other
Memo to Mayor must be attached
i Start Date: Termination Date:
Im
Q Local Business? Yes Fv-(]No*If meets requirements per KCC 3.70.100,please complete'Vendor Purchase-Local Exceptions"form on Cityspace.
Business License Verification: ❑YesEl In-Process ElExempt(KCC 5.01.045) ElAuthorized Signer Verified
Notice required prior to disclosure? Contract Number:
F—]YesONo CAG2024-153
Comments:
Signature only needed on page 7 of PSA, and only first signature line of
Seller's Disclosure Statement acknowledging receipt of statement. FYI - as
c disclosed in statement, property is subject to ground lease with KDP, but it
a, *, terminates on closing (I have received and reviewed lease).
N 0
GJ
GJ
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Date Received:City Attorney: 3/24/24 Date Routed:Mayor's Office 3/25/24 City Clerk's Office 3/25/24
ad«W22373_1_20 -- Visit Documents.KentWA.gov to obtain copies of all agreements
` �� rev.20221201
Authentisign ID:1420D39F-96E8-EE11-AAFO-6045BDDAA143
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 41" Avenue South,
Kent, Washington 98032-5895, and Tian Li (who took title as Tian Li Chou) and
Sio Wan Chou, husband and wife, ("Seller") whose mailing address is
13360 SE 43rd Place, Bellevue, WA 98006 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 a vacant lot known as King County Tax Parcel Number 982570-0390, located
at 302 W Meeker St., Kent, WA 98032 (the 'Property"). The Property is legally
described in Exhibit "A", attached hereto and incorporated herein by this reference.
2. EARNEST MONEY. Within 15 business days of mutual acceptance of
this Agreement, Buyer shall deposit with Fidelity National Title Insurance Company
(the "Escrow Agent"), the sum of Five Thousand Dollars ($5,000) in the form of a
Certified Check, as refundable earnest money to be applied toward the purchase price
of the Property payable at Closing. If this agreement is terminated for any reason,
the Earnest Money shall be returned to Seller in full within 5 business days of
termination.
3. PURCHASE PRICE. The total purchase price for the Property is three-
hundred forty-seven thousand dollars ($347,000), including Earnest Money, payable
on Closing.
4. CONTINGENCIES. This Agreement is contingent upon:
(a) Buyer's receipt of Seller's information contained in the Real
Property Transfer Disclosure Statement ("Disclosure Statement")
the form of which is set forth in Exhibit "B." The Disclosure
Statement shall be completed by the Seller within 15 business
Real Estate Purchase and Sale Agreement Page 1 of 7
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days from the date of mutual acceptance of the Agreement.
Within 10 days of Buyer's receipt of the Disclosure Statement
from Seller, Buyer shall either approve and accept the Disclosure
Statement, or rescind the Agreement to purchase the Property,
in its sole and absolute discretion. If Buyer does not deliver a
written rescission notice to Seller within the ten-day period, the
Disclosure Statement will be deemed approved and accepted by
Buyer.
(b) City Council Authorization as provided in Section 18 below.
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.
5. CONVEYANCE AND CONDITION OF TITLE. The title to the Property
shall be conveyed by Seller to Buyer at Closing by Statutory Warranty Deed, in a
form substantially as that provided in Exhibit "D", free and clear of all liens,
encumbrances or defects except those General Exceptions described in Schedule B,
paragraphs A-C and G-J of Title Report Number 611334645, of Exhibit "C", attached
hereto and incorporated herein by this reference. All other special exceptions therein,
except that described in paragraph 1, are to be removed 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 on or before
closing.
6. TITLE INSURANCE. At Closing, Buyer shall cause 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
Real Estate Purchase and Sale Agreement Page 2 of 7
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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. Buyer shall pay all real estate
excise taxes, escrow fees, 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.
S. CLOSING OF THE SALE. WITH THE UNDERSTANDING THAT TIME IS
OF THE ESSENCE FOR THIS AGREEMENT, this sale shall be closed within 30 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 the 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, the Property shall be destroyed
or materially damaged by flood, earthquake, 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;
Real Estate Purchase and Sale Agreement Page 3 of 7
Authentisign ID:1420D39F-96E8-EE11-AAFO-6045BDDAA143
(b) that Seller has no knowledge of notice from any governmental agency
of any violation of laws relating to the Property except:
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.
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 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
Real Estate Purchase and Sale Agreement Page 4 of 7
Authentisign ID:1420D39F-96E8-EE11-AAFO-6045BDDAA143
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
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:
Adam Long
Law Department
City of Kent
220 Fourth Avenue South
Kent, WA 98032
(b) All notices to be given to Seller shall be addressed as follows:
Real Estate Purchase and Sale Agreement Page 5 of 7
Authentisign ID:1420D39F-96E8-EE11-AAFO-6045BDDAA143
Nan Li and Sio Wan Chou
13360 SE 43rd Place, Bellevue, WA 98006
(c) All notices to be given to Escrow Agent shall be addressed as follows:
Lisa Hayes
Fidelity National Title
5006 Center Street, Suite J
Tacoma, WA 98409
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 City of Kent City Council's (the "City Council's") prior
authorization to buy the Property under 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.
Real Estate Purchase and Sale Agreement Page 6 of 7
Authentisign ID:1420D39F-96E8-EE11-AAFO-6045BDDAA143
20. 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.
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
March 25, 2024, to accept the Agreement as written, by delivering a signed
copy thereof to the Buyer's agent, Adam Long. 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
By: ►✓OIXL .
Dana Ralph
Its: Mayor
Dated: 03/25/2024
SELLER: Jian Li and Sio Wan Chou
AuthentISIGN uthentivGN
[�,O W,,, CAOU 03/25/24
By: and
Its: Owners
Dated: 03/25/24
Real Estate Purchase and Sale Agreement Page 7 of 7
Authentisign ID:1420D39F-96E8-EE11-AAFO-6045BDDAA143
EXHIBIT A
LEGAL DESCRIPTION
THE NORTH 86.22 FEET OF LOT 10 IN BLOCK 6 OF YESLER'S FIRST ADDITION TO THE TOWN OF KENT,
ACCORDING TO THE PLAT THEREOF RECORDED IN VOLUME 5 OF PLATS, PAGE 64, RECORDS OF KING
COUNTY;
SITUATE IN THE CITY OF KENT, COUNTY OF KING, STATE OF WASHINGTON.
Authentisign ID:1420D39F-96E8-EE11-AAFO-6045BDDAA143
EXHIBIT B
SELLER'S DISCLOSURE STATEMENT
INSTRUCTIONS TO THE SELLER
Please complete the following form. Do not leave any spaces blank. If the question clearly
does not apply to the property write "NA." If the answer is "yes" to any * items, please explain
on attached sheets. Please refer to the line number(s) of the question(s) when you provide
your explanation(s). Delivery of the disclosure statement must occur not later than five
business days, unless otherwise agreed, after mutual acceptance of a written contract to
purchase between a buyer and a seller.
NOTICE TO THE BUYER
THE FOLLOWING DISCLOSURES ARE MADE BY SELLER ABOUT THE CONDITION OF THE
PROPERTY LOCATED AT _302 W Meeker Street _ KENT, WASHINGTON, ("THE
PROPERTY"), OR AS LEGALLY DESCRIBED ON ATTACHED EXHIBIT A.
SELLER MAKES THE FOLLOWING DISCLOSURES OF EXISTING MATERIAL FACTS OR
MATERIAL DEFECTS TO BUYER BASED ON SELLER'S ACTUAL KNOWLEDGE OF THE
PROPERTY AT THE TIME SELLER COMPLETES THIS DISCLOSURE STATEMENT. UNLESS YOU
AND SELLER OTHERWISE AGREE IN WRITING, YOU HAVE THREE BUSINESS DAYS FROM
THE DAY SELLER OR SELLER'S AGENT DELIVERS THIS DISCLOSURE STATEMENT TO YOU
TO RESCIND THE AGREEMENT BY DELIVERING A SEPARATELY SIGNED WRITTEN
STATEMENT OF RESCISSION TO SELLER OR SELLER'S AGENT. IF THE SELLER DOES NOT
GIVE YOU A COMPLETED DISCLOSURE STATEMENT, THEN YOU MAY WAIVE THE RIGHT TO
RESCIND PRIOR TO OR AFTER THE TIME YOU ENTER INTO A SALE AGREEMENT.
THE FOLLOWING ARE DISCLOSURES MADE BY SELLER AND ARE NOT THE
REPRESENTATIONS OF ANY REAL ESTATE LICENSEE OR OTHER PARTY. THIS INFORMATION
IS FOR DISCLOSURE ONLY AND IS NOT INTENDED TO BE A PART OF ANY WRITTEN
AGREEMENT BETWEEN BUYER AND SELLER.
FOR A MORE COMPREHENSIVE EXAMINATION OF THE SPECIFIC CONDITION OF THIS
PROPERTY YOU ARE ADVISED TO OBTAIN AND PAY FOR THE SERVICES OF QUALIFIED
EXPERTS TO INSPECT THE PROPERTY, WHICH MAY INCLUDE, WITHOUT LIMITATION,
ARCHITECTS, ENGINEERS, LAND SURVEYORS, PLUMBERS, ELECTRICIANS, ROOFERS,
BUILDING INSPECTORS, ON-SITE WASTEWATER TREATMENT INSPECTORS, OR
STRUCTURAL PEST INSPECTORS. THE PROSPECTIVE BUYER AND SELLER MAY WISH TO
OBTAIN PROFESSIONAL ADVICE OR INSPECTIONS OF THE PROPERTY OR TO PROVIDE
APPROPRIATE PROVISIONS IN A CONTRACT BETWEEN THEM WITH RESPECT TO ANY
ADVICE, INSPECTION, DEFECTS, OR WARRANTIES.
Seller is/ __ is not occupying the property.
Seller's Disclosure Statement - Page 1 of 5
Authentisign ID:1420D39F-96E8-EE11-AAFO-6045BDDAA143
I. SELLER'S DISCLOSURES:
*If you answer "Yes" to a question with an asterisk (*), please explain your answer and
attach documents, if available and not otherwise publicly recorded. If necessary, use an
attached sheet.
1. TITLE
Yes [ ] No [ ] Don't know A. Do you have legal authority to sell the
property? If no, please explain.
Yes [ ] No [ ] Don't know *B. Is title to the property subject to any of
the following?
(1) First right of refusal
(2) Option
(3) Lease or rental agreement
(4) Life estate?
[ ] Yes [ ] No [�on't know *C. Are there any encroachments, boundary
agreements, or boundary disputes?
[ ] Yes Q No [ ] Don't know *D. Is there any leased parking?
[ ] Yes [ ] No [�on't know *E. Is there a private road or easement
agreement for access to the property?
[ ] Yes [ ] No [Epon't know *F. Are there any rights-of-way, easements,
Shared use agreements or access limitations?
[ ] Yes [ ] No EPon't know *G. Are there any written agreements for joint
maintenance of an easement or right-of-way?
[ ] Yes [ ] No rX
Don't know *H. Are there any zoning violations or
nonconforming uses?
[ ] Yes [ ] No ® Don't know *I. Is there a survey for the property?
[ ] Yes Fx-1No [ ] Don't know *J. Are there any legal actions pending or
threatened that affect the property?
[ ] Yes [ ] No Don't know *K. Is the property in compliance with the
Americans with Disabilities Act?
2. WATER
[ ] Yes [ ] No ®Don't know *Are there any water rights for the property,
such as water right permit, certificate, or claim?
Seller's Disclosure Statement - Page 2 of 5
Authentisign ID:1420D39F-96E8-EE11-AAFO-6045BDDAA143
3. SEWER/ON-SITE SEWAGE SYSTEM
[ ] Yes [ ] No ❑X Don't know *Is the property subject to any sewage system
fees or charges in addition to those covered in
your regularly billed sewer or on-site sewage
system maintenance service?
4. STRUCTURAL
[ ] Yes [ ] No ❑X Don't know *A. Has the roof leaked within the last five
yea rs?
[ ] Yes [ ] No Don't know *B. Has any occupied subsurface flooded or
leaked within the last five years?
[ ] Yes [ ] No Ex- Don't know *C. Have there been any conversions,
additions, or remodeling?
[ ] Yes [ ] No [ ] Don't know *(1) If yes, were all building permits
obtained?
[ ] Yes [ ] No [ ] Don't know *(2) If yes, were all final inspections
obtained?
[ ] Yes [ ] No �pon't know D. Has there been an settling, slippage, or
sliding of the property or its improvements?
[ ] Yes [ ] No ® Don't know *E. Are there any defects with the following:
(If yes, please check applicable items and
explain.)
❑ Foundations ❑ Windows
❑ Doors ❑ Slab Floors
❑ Ceilings ❑ Outbuildings
❑ Sidewalks ❑ Exterior Walls
❑ Other ❑ Siding
❑ Interior Walls
S. SYSTEMS AND FIXTURES
[ ] Yes [ ] No ®Don't know *A. Are there any defects in the following
systems? If yes, please explain.
[ ] Yes [ ] No FX
Don't know (1) Electrical system
[ ] Yes [ ] No FI Don't know (2) Plumbing system
[ ] Yes [ ] No FI Don't know (3) Heating and cooling systems
[ ] Yes [ ] No rx
Don't know (4) Fire and security system
Seller's Disclosure Statement - Page 3 of 5
Authentisign ID:1420D39F-96E8-EE11-AAFO-6045BDDAA143
[ ] Yes [ ] No FEDon't know (5) Carbon monoxide alarms
6. ENVIRONMENTAL
[ ] Yes [ ] No Don't know *A. Have there been any flooding, standing
water or drainage problems on the property that
affect the property or access to the property?
[ ] Yes [ ] No Don't know *B. Is there any material damage to the
property from fire, wind, floods, beach
movements, earthquake, expansive soils, or
landslides?
[ ] Yes [ ] No ❑X Don't know *C. Are there any shorelines, wetlands,
floodplains, or critical areas on the property?
[ ] Yes [ ] No ® Don't know *D. Are there any substances, materials, or
products on the property that may be
environmental concerns, such as asbestos,
formaldehyde, radon gas, lead-based paint, fuel
or chemical storage tanks, or contaminated soil
or water?
[ ] Yes [ ] No ®Don't know *E. Is there any soil or groundwater
contamination?
[ ] Yes [ ] No ❑X Don't know *F. Has the property been used as a legal or
illegal dumping site?
[ ] Yes [ ] No ®Don't know *G. Has the property been used as an illegal
drug manufacturing site?
7. FULL DISCLOSURE BY SELLERS
A. Other conditions or defects:
[ ] Yes [ ] No ❑X Don't know *Are there any other existing material defects
affecting the property that a prospective buyer
There is an existing lease active at the time of should know about?
contract execution with the Kent Downtown
Partnership as Lessee. No rent is charged to B. Verification:
Lessee. Lease shall terminate upon the date of The foregoing answers and attached explanations
closing. Buyer shall take possession subject to (if any) are complete and correct to the best of
any remaining artwork, signage, etc left on the my/our knowledge and I/we have received a
Property. copy hereof. I/we authorize all of my/our real
estate licensees, if any, to deliver a copy of this
Property previously hosted a building that disclosure statement to other real estate
suffered a fire in 2006 and subsequently licensees and all prospective buyers of the
demolished. Buyer shall perform all pertient property.
due diligence to their satisfaction.
Seller's Disclosure Statement - Page 4 of 5
Authentisign ID:1420D39F-96E8-EE11-AAFO-6045BDDAA143
NOTICE TO THE BUYER
INFORMATION REGARDING REGISTERED SEX OFFENDERS MAY BE OBTAINED FROM LOCAL
LAW ENFORCEMENT AGENCIES. THIS NOTICE IS INTENDED ONLY TO INFORM YOU OF
WHERE TO OBTAIN THIS INFORMATION AND IS NOT AN INDICATION OF THE PRESENCE OF
REGISTERED SEX OFFENDERS.
II. BUYER'S ACKNOWLEDGMENT
A. Buyer hereby acknowledges that: Buyer has a duty to pay diligent attention to any
material defects that are known to Buyer or can be known to Buyer by utilizing diligent
attention and observation.
B. The disclosures set forth in this statement and in any amendments to this statement
are made only by the Seller and not by any real estate licensee or other party.
C. Buyer acknowledges that, pursuant to RCW 64.06.050(2), real estate licensees are
not liable for inaccurate information provided by Seller, except to the extent that real estate
licensees know of such inaccurate information.
D. This information is for disclosure only and is not intended to be a part of the written
agreement between the Buyer and Seller.
E. Buyer (which term includes all persons signing the "Buyer's acceptance" portion of this
disclosure statement below) has received a copy of this Disclosure Statement (including
attachments, if any) bearing Seller's signature.
DISCLOSURES CONTAINED IN THIS DISCLOSURE STATEMENT ARE PROVIDED BY SELLER
BASED ON SELLER'S ACTUAL KNOWLEDGE OF THE PROPERTY AT THE TIME SELLER
COMPLETES THIS DISCLOSURE STATEMENT. UNLESS BUYER AND SELLER OTHERWISE
AGREE IN WRITING, BUYER SHALL HAVE THREE BUSINESS DAYS FROM THE DAY SELLER
OR SELLER'S AGENT DELIVERS THIS DISCLOSURE STATEMENT TO RESCIND THE
AGREEMENT BY DELIVERING A SEPARATELY SIGNED WRITTEN STATEMENT OF RESCISSION
TO SELLER OR SELLER'S AGENT. YOU MAY WAIVE THE RIGHT TO RESCIND PRIOR TO OR
AFTER THE TIME YOU ENTER INTO A SALE AGREEMENT.
BUYER HEREBY ACKNOWLEDGES RECEIPT OF A COPY OF THIS DISCLOSURE STATEMENT AND
ACKNOWLEDGES THAT THE DISCLOSURES MADE HEREIN ARE THOSE OF THE SELLER ONLY,
AND NOT OF ANY REAL ESTATE LICENSEE OR OTHER PARTY.
DATE: BUYER:
BUYER'S WAIVER OF RIGHT TO RECEIVE COMPLETED SELLER DISCLOSURE STATEMENT
Buyer has been advised of Buyer's right to receive a completed Seller Disclosure Statement.
Buyer waives that right. However, if the answer to any of the questions in the section entitled
"Environmental" would be 'eyes," Buyer may not waive the receipt of the "Environmental"
section of the Seller Disclosure Statement.
DATE: BUYER
Seller's Disclosure Statement - Page 5 of 5
Authentisign ID:1420D39F-96E8-EE11-AAFO-6045BDDAA143 EXHIBIT C
FIDELITY NATIONAL TITLE COMPANY OF WASHINGTON,
INC. COMMITMENT NO. 611334645
SCHEDULE B, PART I - Requirements
All of the following Requirements must be met:
1. The Proposed Insured must notify the Company in writing of the name of any party not referred to in this
Commitment who will obtain an interest in the Land or who will make a loan on the Land. The Company may then
make additional Requirements or Exceptions.
2. Pay the agreed amount for the estate or interest to be insured.
3. Pay the premiums, fees, and charges for the Policy to the Company.
4. Documents satisfactory to the Company that convey the Title or create the Mortgage to be insured, or both, must
be properly authorized, executed, delivered, and recorded in the Public Records.
5. Additional requirements and/or exceptions may be added as details of the transaction are disclosed to, or become
known by the Company.
6. If the Seller or Borrower intends to sign documents required to insure the transaction utilizing a remote online
notary, please notify the Company immediately as additional underwriting requirements will need to be satisfied.
7. The Proposed Policy Amount(s) must be increased to the full value of the estate or interest being insured, and any
additional premium must be paid at that time. An Owner's policy should reflect the purchase price or full value of
the Land. A Loan Policy should reflect the loan amount or value of the property as collateral. Proposed Policy
Amount(s)will be revised and premiums charged consistent therewith when the final amounts are approved.
8. For each policy to be issued as identified in Schedule A, Item 2; the Company shall not be liable under this
commitment until it receives a designation for a Proposed Insured, acceptable to the Company. As provided in
Commitment Condition 4, the Company may amend this commitment to add, among other things, additional
exceptions or requirements after the designation of the Proposed Insured.
This page is only a part of a 2021 ALTA@ Commitment for Title Insurance issued by Fidelity National Title Insurance Company. This Commitment is not valid without
the Notice; the Commitment to Issue Policy; the Commitment Conditions; Schedule A; Schedule B, Part 1-Requirements; Schedule B, Part II-Exceptions; and a
counter-signature by the Company or its issuing agent that may be in electronic form.
AM R
Copyright American Land Title Association. All rights reserved. I LAND"""
AND TITLE
ASSOCIATION
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. Reprinted under license from the American Land Title Association. n,
ALTA Commitment for Title Insurance w-WA Mod(07/01/2021) Printed: 11.01.23 @ 05:39 AM
Page 4 WA-FT-FTMA-01530.610051-SPS-1-23-611334645
Authentisign ID:1420D39F-96E8-EE11-AAFO-6045BDDAA143
FIDELITY NATIONAL TITLE COMPANY OF WASHINGTON,
INC. COMMITMENT NO. 611334645
SCHEDULE B, PART I - Requirements
(continued)
9. Payment of the real estate excise tax, if required.
The Land is situated within the boundaries of local taxing authority of the City of Kent.
The rate of real estate excise tax 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$525,000 or less;
1.28% on any portion of the sales price above$525,000, up to$1,525,000;
2.75% on any portion of the sales price above$1,525,000, up to$3,025,000;
3.00% on any portion of the sales price above$3,025,000;
The rate of excise for properties formally classified as timberland or agriculture land will be 1.28%for the State
portion on the entire sales price.
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, which can
be found online HERE <httos://dor.wa.gov/qet-form-or-publication/forms-subiect/real-estate-excise-tax>. 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).
10. A completed owner's affidavit (form to be supplied by the Company)will be required in connection with issuance of
the policy(ies) shown in Schedule A.
END OF REQUIREMENTS
NOTES
The following matters will not be listed as Special Exceptions in Schedule B of the policy. There will be no coverage for
loss arising by reason of the matters listed below because these matters are either excepted or excluded from coverage or
are not matters covered under the insuring provisions of the policy.
Note A: Notice: Please be aware that due to the conflict between federal and state laws concerning the
cultivation, distribution, manufacture or sale of marijuana, the Company is not able to close or insure any
transaction involving Land that is associated with these activities.
This page is only a part of a 2021 ALTA@ Commitment for Title Insurance issued by Fidelity National Title Insurance Company. This Commitment is not valid without
the Notice; the Commitment to Issue Policy; the Commitment Conditions; Schedule A; Schedule B, Part I-Requirements; Schedule B, Part II-Exceptions; and a
counter-signature by the Company or its issuing agent that may be in electronic form.
AM R
Copyright American Land Title Association. All rights reserved. I LAND"""
AND TITLE
ASSOCIATION
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. Reprinted under license from the American Land Title Association. n,
ALTA Commitment for Title Insurance w-WA Mod(07/01/2021) Printed: 11.01.23 @ 05:39 AM
Page 5 WA-FT-FTMA-01 530.610051-SPS-1-23-611334645
Authentisign ID:1420D39F-96E8-EE11-AAFO-6045BDDAA143
FIDELITY NATIONAL TITLE COMPANY OF WASHINGTON,
INC. COMMITMENT NO. 611334645
SCHEDULE B, PART I - Requirements
(continued)
Note B: The application for title insurance was placed by reference to only a street address or tax identification
number. The proposed Insured must confirm that the legal description in this report covers the parcel(s)
of Land requested to be insured. If the legal description is incorrect, the proposed Insured must notify the
Company and/or the settlement company in order to prevent errors and to be certain that the legal
description for the intended parcel(s) of Land will appear on any documents to be recorded in connection
with this transaction and on the policy of title insurance.
Note C: Note: FOR INFORMATIONAL PURPOSES ONLY:
The following may be used as an abbreviated legal description on the documents to be recorded, per
Amended RCW 65.04.045. Said abbreviated legal description is not a substitute for a complete legal
description within the body of the document:
PTN LT 10, BLK 6, YESLER'S FIRST ADDN TO KENT
Tax Account No.: 982570-0390-07
Note D: Notice: Please be advised that our search disclosed that the Land is vacant. The Company reserves the
right to require further evidence to establish and verify the identity of the seller. The Company further
reserves the right to make additional requirements or add additional items or exceptions upon receipt of
the requested evidence.
Note E: Note: The Company finds no matters against the name(s) of City of Kent in the Public Records which
would appear as exceptions in the policy.
Note F: Note: This map/plat is being furnished as an aid in locating the herein described Land in relation to
adjoining streets, natural boundaries and other land. Except to the extent a policy of title insurance is
expressly modified by endorsement, if any, the Company does not insure dimensions, distances or
acreage shown thereon.
END OF NOTES
END OF SCHEDULE B, PART
This page is only a part of a 2021 ALTA@ Commitment for Title Insurance issued by Fidelity National Title Insurance Company. This Commitment is not valid without
the Notice; the Commitment to Issue Policy; the Commitment Conditions; Schedule A; Schedule B, Part I-Requirements; Schedule B, Part II-Exceptions; and a
counter-signature by the Company or its issuing agent that may be in electronic form.
AM R
Copyright American Land Title Association. All rights reserved. I LAND"""
AND TITLE
ASSOCIATION
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. Reprinted under license from the American Land Title Association. n,
ALTA Commitment for Title Insurance w-WA Mod(07/01/2021) Printed: 11.01.23 @ 05:39 AM
Page 6 WA-FT-FTMA-01 530.610051-SPS-1-23-611334645
Authentisign ID:1420D39F-96E8-EE11-AAFO-6045BDDAA143
FIDELITY NATIONAL TITLE COMPANY OF WASHINGTON,
INC. COMMITMENT NO. 611334645
SCHEDULE B, PART II - Exceptions
Some historical land records contain Discriminatory Covenants that are illegal and unenforceable by law. This
Commitment and the Policy treat any Discriminatory Covenant in a document referenced in Schedule B as if each
Discriminatory Covenant is redacted, repudiated, removed, and not republished or recirculated. Only the
remaining provisions of the document will be excepted from coverage.
The Policy will not insure against loss or damage resulting from the terms and conditions of any lease or easement
identified in Schedule A, and will include the following Exceptions unless cleared to the satisfaction of the Company:
GENERAL EXCEPTIONS
A. Rights or claims of parties in possession, or claiming possession, not shown by the Public Records.
B. Any encroachment, encumbrance, violation, variation, or adverse circumstance affecting the Title that would be
disclosed by an accurate and complete land survey of the Land.
C. Easements, prescriptive rights, rights-of-way, liens or encumbrances, or claims thereof, not shown by the
Public Records.
D. Any lien, or right to a lien, for contributions to employee benefit funds, or for state workers' compensation, or
for services, labor, or material heretofore or hereafter furnished, all as imposed by law, and not shown by the
Public Records.
E. Taxes or special assessments which are not yet payable or which are not shown as existing liens by the Public
Records.
F. Any lien for service, installation, connection, maintenance, tap, capacity, or construction or similar charges for
sewer, water, electricity, natural gas or other utilities, or for garbage collection and disposal not shown by the
Public Records.
G. Unpatented mining claims, and all rights relating thereto.
H. Reservations and exceptions in United States Patents or in Acts authorizing the issuance thereof.
I. Indian tribal codes or regulations, Indian treaty or aboriginal rights, including easements or equitable servitudes.
J. Water rights, claims or title to water.
K. Any defect, lien, encumbrance, adverse claim, or other matter that appears for the first time in the Public
Records or is created, attaches, or is disclosed between the Commitment Date and the date on which all of the
Schedule B, Part I—Requirements are met.
This page is only apart of a 2021 ALTA@ Commitment for Title Insurance issued by Fidelity National Title Insurance Company. This Commitment is not valid without
the Notice; the Commitment to Issue Policy; the Commitment Conditions; Schedule A; Schedule B, Part I-Requirements; Schedule B, Part II-Exceptions; and a
counter-signature by the Company or its issuing agent that may be in electronic form.
AMERICCopyright American Land Title Association. All rights reserved. LAND g LAND TITLE
ASSOCIATION
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. Reprinted under license from the American Land Title Association.
ALTA Commitment for Title Insurance w-WA Mod(07/01/2021) Printed: 11.01.23 @ 05:39 AM
Page 7 WA-FT-FTMA-01 530.610051-SPS-1-23-611334645
Authentisign ID:1420D39F-96E8-EE11-AAFO-6045BDDAA143
FIDELITY NATIONAL TITLE COMPANY OF WASHINGTON,
INC. COMMITMENT NO. 611334645
SCHEDULE B, PART II - Exceptions
(continued)
SPECIAL EXCEPTIONS
1. Covenants, conditions, restrictions, recitals, reservations, easements, easement provisions, encroachments,
dedications, building setback lines, notes, statements, and other matters, if any, but omitting any covenants or
restrictions, if any, including but not limited to those based upon race, color, religion, sex, sexual orientation,
familial status, marital status, disability, handicap, national origin, ancestry, or source of income, as set forth in
applicable state or federal laws, except to the extent that said covenant or restriction is permitted by applicable
law, as set forth on the plat of Yesler's First Addition to the Town of Kent:
Recording No: 52220
2. General and special taxes and charges, payable February 15, delinquent if first half unpaid on May 1, second half
delinquent if unpaid on November 1 of the tax year(amounts do not include interest and penalties):
Year: 2023
Tax Account No.: 982570-0390-07
Levy Code: 1526
Assessed Value-Land: $110,000.00
Assessed Value-Improvements: $0.00
General and Special Taxes:
Billed: $1,166.66
Paid: $1,166.66
Unpaid: $0.00
3. Liability for Sewer Treatment Capacity Charges, if any, affecting certain areas of King, Pierce and Snohomish
Counties. Said charges could apply to property connecting to the metropolitan sewerage facilities or reconnecting
or changing its use and/or structure after February 1, 1990.
Please contact the King County Wastewater Treatment Division, Capacity Charge Program, for further information
at 206-296-1450 or Fax No. 206-263-6823 or email at CapChargeEscrow(a-)-kingcounty.gov.
*A map showing sewer service area boundaries and incorporated areas can be found at:
http://www.kingcounty.gov/services/gis/Maps/vmc/Utilities.aspx#4E564EB5E6894FBC95694BE009A45399
Unrecorded Sewer Capacity Charges are not a lien on title to the Land.
NOTE: This exception will not appear in the policy to be issued.
4. The search did not disclose any open mortgages or deeds of trust of record, therefore the Company reserves the
right to require further evidence to confirm that the property is unencumbered, and further reserves the right to
make additional requirements or add additional items or exceptions upon receipt of the requested evidence.
This page is only a part of a 2021 ALTA@ Commitment for Title Insurance issued by Fidelity National Title Insurance Company. This Commitment is not valid without
the Notice; the Commitment to Issue Policy; the Commitment Conditions; Schedule A; Schedule B, Part I-Requirements; Schedule B, Part II-Exceptions; and a
counter-signature by the Company or its issuing agent that may be in electronic form.
AM R
Copyright American Land Title Association. All rights reserved. I LAND"""
AND TITLE
ASSOCIATION
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. Reprinted under license from the American Land Title Association. n,
ALTA Commitment for Title Insurance w-WA Mod(07/01/2021) Printed: 11.01.23 @ 05:39 AM
Page 8 WA-FT-FTMA-01 530.610051-SPS-1-23-611334645
Authentisign ID:1420D39F-96E8-EE11-AAFO-6045BDDAA143
FIDELITY NATIONAL TITLE COMPANY OF WASHINGTON,
INC. COMMITMENT NO. 611334645
SCHEDULE B, PART II - Exceptions
(continued)
5. Any unrecorded leaseholds, right of vendors and holders of security interests on personal property installed upon
the Land and rights of tenants to remove trade fixtures at the expiration of the terms.
6. To provide an extended coverage lender's policy, general exceptions B and C are hereby eliminated. General
exceptions A and D have not been cleared.
In consideration of clearing paragraphs A and D of Schedule B, please have the borrower/owner complete the
enclosed affidavit and return to our office for review.
END OF SCHEDULE B, PART II
This page is only a part of a 2021 ALTA@ Commitment for Title Insurance issued by Fidelity National Title Insurance Company. This Commitment is not valid without
the Notice; the Commitment to Issue Policy; the Commitment Conditions; Schedule A; Schedule B, Part I-Requirements; Schedule B, Part II-Exceptions; and a
counter-signature by the Company or its issuing agent that may be in electronic form.
AMFR
Copyright American Land Title Association. All rights reserved. I LAND"""
AND TITLE
ASSOCIATION
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. Reprinted under license from the American Land Title Association. n,
ALTA Commitment for Title Insurance w-WA Mod(07/01/2021) Printed: 11.01.23 @ 05:39 AM
Page 9 WA-FT-FTMA-01 530.610051-SPS-1-23-611334645
Authentisign ID:1420D39F-96E8-EE11-AAFO-6045BDDAA143
EXHIBIT D
WHEN RECORDED RETURN TO:
City Clerk
City of Kent
220 Fourth Avenue South
Kent, Washington 98032
Grantor: Jian Li (who took title as Jian Li Chou and Sio Wan Chou, husband and
wife
Grantee: City of Kent
Abbreviated Legal Description: Parcel No. 982570-0390
Additional Legal Description on: Exhibit "A"
Assessor's Tax Parcel ID No.: 982570-0390 STR: NE-24-22-4
Project Name: 2n6 and Meeker - City Acquisition
WARRANTY DEED
Jian Li (who took title as Jian Li Chou) and Sio Wan Chou, husband and
wife, an individual ("Grantor"), for and in consideration of Ten Dollars and No/100
($10.00) and/or other valuable consideration in hand paid, conveys and warrants to
the City of Kent, a Washington municipal corporation ("Grantee"), all his
interest, including any after acquired title, in the real property described in the
attached and incorporated Exhibit A, situated in King County, Washington, subject
to easements, restrictions, reservations, right-of-way, and covenants of record.
(Signatures on following page)
WARRANTY DEED - Page 1 of 4
Authentisign ID:1420D39F-96E8-EE11-AAFO-6045BDDAA143
GRANTORS:
Name: Jian Li
Title: Owner
Date:
Name: Sio Wan Chou
Title: Owner
Date:
WARRANTY DEED - Page 2 of 4
Authentisign ID:1420D39F-96E8-EE11-AAFO-6045BDDAA143
STATE OF WASHINGTON )
ss.
COUNTY OF KING )
I certify that I know or have satisfactory evidence that Jian Li is the person who
appeared before me, and said person acknowledged that he signed this instrument, on
oath stated that he was authorized to execute the instrument and acknowledged it as
the Owner to be the free and voluntary act of such party for the uses and purposes
mentioned in the instrument.
Dated:
-Notary Seal Must Appear Within This Box-
IN WITNESS WHEREOF, I have hereunto set my hand and official seal the
day and year first above written.
(Signature)
NOTARY PUBLIC, in and for the State
of Washington, residing at
My appointment expires
WARRANTY DEED - Page 3 of 4
Authentisign ID:1420D39F-96E8-EE11-AAFO-6045BDDAA143
STATE OF WASHINGTON )
ss.
COUNTY OF KING )
I certify that I know or have satisfactory evidence that Sio Wan Chou is the
person who appeared before me, and said person acknowledged that he signed this
instrument, on oath stated that he was authorized to execute the instrument and
acknowledged it as the Owner to be the free and voluntary act of such party for the
uses and purposes mentioned in the instrument.
Dated:
-Notary Seal Must Appear Within This Box-
IN WITNESS WHEREOF, I have hereunto set my hand and official seal the
day and year first above written.
(Signature)
NOTARY PUBLIC, in and for the State
of Washington, residing at
My appointment expires
WARRANTY DEED - Page 4 of 4