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i EE 0 2 20;6 CITY OF PENTON PLANNNG DIVISiON CONCORD PLACE FINAL PLAT Title Documents First American Title Insurance Company Subdivision Guarantee Order No. 2578272 Dated December 30, 2015 DRS PROJECT NO. 14103 D.R. STRONG CONSULTING ENGINEERS 620 7ch Ave. Kirkland, WA. 98033 EMAN 3 Return Address U.S.SANK NATIONAL ASSOCIATION We HOUSING CAPITAL COMPANY ��1�48 1420 Fifth A�soae,$th!Floor L 15028 249.00 Sentilg �Washiugton 98101 FIRST pp1�RI CRN OT ATIN: 211s.Krisla J.Holland pt;GE1001 9F 1V18 yIi1N�Cp�1,MiTY, 1Ni Doc®em1 Titles)(Of traosactiOos nrntained tLcrem): 1. DEED OF TRUST,ASSIGNMENT OF RENTS AND LEASES,SECURITY AGREE RENT AND FIXTURE FIIJNG REfereom Numdwr(s)of Dortanents essipoed or released: (—page_off) Granior(s)(Last flame iirsy then fast na and initials): 1. ALBACORE AM LLC,a Washmgtan limited liability company Additional manes on page_of documemt. Grantees)(I.ast usnte fnrA than first name and initials): 1. U.S.BANK NATIONAL ASSOCIATION dVa HOUSING CAPITAL COMPANY 2. U.S.BANK TRUST COMPANY,NATIONAL ASSOCIATION Q Additional names on page_of docum cot Legal d eserlptlan(abbreviated ie.lot,black,plal or section,township,range) PTN SEC 3 TWP 23N RGE SE SE QTR SE QTR,KING COUNTY ® Full Iegal descsipt is on ExhMt A of doaartent. Assessor's Property Tax ParrellAeeonnl Nnmher(s) 032305902101 CEEDOFTRIISr HCC LOAN*2395 12187-5642=1/128233474.1 DEED OF TRUST,ASSIGNMENT OF RENTS AND LEASES, SECURITY AGREEM EENT AND FIXTURE FILING This deed of trust,assignment of rents and leases,security agreement and fixture filing(hereinafter called"Deed of Trust")is made as of October 20,203 5,among ALBACORE ACH,LLC,a Washington limited liability company,whose address is 9675 SE 36th Street,Suite 105,Mercer Island,Washington 98040(hereinafter called"Grantor'); U.S.BANK TRUST COMPANY,NATIONAL ASSOCIATION,whose address is I 1 I S.W.Fifth Avenue,Portland,Oregon 97204(hereinafter called"Trustee");and U.S.BANK NATIONAL ASSOCIATION dlbla HOUSING CAPITAL COMPANY,whose address is 1420 Fifth Avenue,8th Floor,Seattle,Washington 98101 (hereinafter called "Beneficiary'). WITNESSETH: That Grantor does hereby irrevocably GRANT,BARGAIN,SELL,and CONVEY TO TRUSTEE IN TRUST,WITH POWER OF SALE,that property in the County of King,State of Washington,described in Exhibit A attached hereto and by this reference incorporated herein,together with any and all buildings,structures and improvements now or hereafter erected on or attached to the property,including,but not limited to,the fixtures,attachments, appliances,equipment,machinery,and other articles on,in or attached to the property or to such buildings and improvements,all of which are herein collectively called the"Property; TOGETHER WITH of interests,estate or other claims,both in Iaw and in equity, which Grantor now has or may hereafter acquire in the Property, TOGETHER WITH all easements,rights-of-way and rights used in connection therewith or as a means of access to the Property,and all tenements,hereditaments and appurtenances of and to the Property,and all water rights,permits,certificates and water rights agreements and shares of stock evidencing the same; TOGETHER WITH all right,title and interest of Grantor,now owned or hereafter acquired,in and to any land lying within the right-of--way of any street, open or proposed, adjoining the Property;and any and all sidewalks,alleys,and strips and gores of land adjacent to or used in connection with the Property; TOGETHER WITH all right,title and interest of Grantor in and to all personal property(the"Personal Property")now or hereafter owned by Grantor and now or at any time hereafter located on or at the Property or used in connection therewith,including,but not limited to,all goods,machinery,tools,insurance proceeds,equipment(including fire sprinklers and alarm systems,office air conditioning,heating,refrigerating,electronic nib of TRUST PAGE 1 HCC WAX 42395 12197.5602.0001/129233474.1 [ExEcunoN COPY] monitoring,window or structural cleaning rigs,mai11tenance,and all other equipment of every kind),lobby and all other indoor and outdoor Auniture,rugs,carpets,and other floor coverings,all inventory related to the Grantor's operation of the Property and any business operated thereon by Grantor,draperies,drapery rods and brackets,awnings,window shades, venetian blinds,curtains,lamps,chandeliers and other lighting fixtures,and office maintenance and other supplies and all proceeds thereof and all rights of Grantor as lessee of any Personal Property,_ TOGETHER WITH all right,title,and interest of Grantor in the fiends deposited pursuant to Section 1-6 or Section 1.7; TOGETHER WITH all the estate, interest,right,title,other claim or demand,which Grantor now has or may hereafter acquire in the Property,including all unearned premiums under insurance policies now or hereafter obtained by Grantor,claims or demands with respect to the proceeds of insurance,all proceeds(including,without limitation,funds, accounts,deposits,instruments,general intangibles,notes or chattel paper)of the conversion, voluntary or involuntary,of any of the property described above into cash or other liquidated claims,including proceeds of hazard,title and other insurance and proceeds received pursuant to any sales or rental agreements of Grantor in respect to the Property,all refunds or rebates of taxes or assessments on the Property,all rights of action in respect of the Property and all judgments,damages,awards,settlements and compensation(including interest thereon),heretofore,or hereafter made to the present and all subsequent owners of any property or rights described or encumbered hereby for any injury to or decrease in the value thereof for any reason, or by any governmental or other lawful authority for the taking by eminent domain,condemnation or by any proceeding or purchase in lieu thereof of all or any part of the Property,including,without limitation,any awards resulting from a change of grade of streets and awards for severance damages. TOGETHER WITH any and all existing and future leases(including subleases thereof),whether written or oral,rental agreements and all future agreements for use and occupancy,and any and all extensions,renewals and replacements thereof,upon all or relating to any part of the Property(hereinafter collectively referred to as the"Leases ); TOGETHER WITH any and all guaranties of tenant's performance under any and all of the Leases; TOGETHER WITH the immediate and continuing right to collect and receive all of the rents,fees,charges,accounts,income,receipts,revenues,issues,profits and other income or other payments of any nature now due or which may become due or to which Grantor may now or shall hereafter(including any income of any nature coming due during any redemption period)become entitled to or may crake demand or claim for,arising or issuing from or out of the Leases or from or out of the Property or any part thereof;including but not limited to fees,charges,accounts or other payments for the use or occupancy of rooms and DEED of 7RUST PAGE 2 HCC LOAN en95 12127-5602,DDDI)1 2 873 3 4 74.1 [FxcvnoN com other public facilities,minimum rents,additional rents,percentage rents,parking or common area maintenance contributions,tax and insurance contributions,deficiency rents and liquidated damages following default in any Lease,all accounts,instniments,and general intangibles related to the Grantor's operation of the Property and any business operated thereon by Grantor and all proceeds thereof and all proceeds payable under any policy of insurance covering loss of rents resulting from untenantability caused by destruction or damage to the Property,together with any and all rights and claims of any kind which Grantor may have against any tenant under the Leases or any subtenants or occupants of the Property and all proceeds payable as a result of the Tenant's exercise of an option to purchase the Property,all proceeds derived from the termination or rejection of any Lease in a bankruptcy or other insolvency proceeding,and all proceeds from any rights or clai3us of any kind that Grantor may have against Tenant under the leases or any occupancy of the Property (all such monies,rights and claims described in this paragraph being hereinafter called"Cash Collateral"),excepting therefrom,any sums which by the express provisions of any of The Leases are payable directly to any governmental authority or to any other person,firm or corporation other than the landlord under the Leases; SUBJECT,HOWEVER,to a license hereby granted by Beneficiary to Grantor,but limited as hereinafter provided,to collect and receive all of the Cash Collateral. TOGETHER WITH all plans,specifications,contracts,agreements and purchase orders pertaining or incidental to the design or construction of any Improvements; TOGETHER WITH all of Grantor's rights under any payment,performance or other bond in connection with construction of Improvements,and all construction materials, supplies and equipment delivered to the Property or intended to be used in connection with the construction of Improvements wherever actually located. All architectuzal drawings, plans,specifications,soil tests,feasibility studies,appraisals,engineering reports and similar materials relating to the Property; TOGETHER WITH all contracts and rights pertaining to or affecting the Property including without limitation all options or contracts to acquire other property for use in connection with operation or development of the Property,deposits,bank accounts,contract rights,accounts,general intangibles(including without limitation trademarks,trade names and symbols),permits,licenses,franchises and certificates; TOGETHER WITH all commitments or agreements,now or hereafter in existence, intended by the obligor thereof to provide Grantor funds to repay the Beneficiary or improve the Property and the right to receive all proceeds due under such commitments or agreements including refundable deposits and fees; TOGETHER WITH all books,records,surveys,reports,and other documents related to the property described herein or construction or operation of the Property, DM)OF TRUST PAGE 3 HCC LOAN R2395 12187-56a0001A22233474.1 [EXECUTION COPY] TOGETHER WITH all governmental permissions,environmental clearances, authority to subdivide the Property,rights,licenses and permits as are necessary for the commencement,continuation,completion,occupancy,use and disposition of all or any portion of the Property;and TOGETHER WITH all additions,accessions,replacements,substitutions,proceeds and products of the property described herein- The entire estate,property,and interest hereby conveyed to Trustee may hereafter be referred to as the"Trust Estate." FOR THE PURPOSE OF SECURING: IA. Payment of indebtedness in the principal amount of$2,973,750 with interest thereon,evidenced by that certain promissory note of even date herewith,executed by Grantor,as Borrower,which has been delivered to,and is payable to,the order of Beneficiary and which,by this reference,is made a part hereof and any and all modifications,extensions and renewals thereof The interest rate,payment terms,or the balance due on such note and the indebtedness evidenced thereby may be indexed,adjusted,renewed,or renegotiated without affecting the priority of this Deed of Trust. IB. Payment of indebtedness in the principal amount of S5,000,000 with interest thereon,evidenced by that certain promissory note dated as of July 18,2014,executed by ACH Builders,LLC,which has been delivered to,and is payable to,the order of Beneficiary and which,by this reference,is made a part hereof,and any and all modifications,extensions and renewals thereof The interest rate,payment terns,or the balance due on such note and the indebtedness evidenced thereby may be indexed.,adjusted,renewed,or renegotiated without affecting the priority of this Deed of Trust. IC. Payment of indebtedness in the principal amount of$5,347,500 with interest thereon,evidenced by that certain promissory note dated as of October 27,2015,executed by ALBACORE ACH,LLC,a Washington limited Liability company,which has been delivered to,and is payable to,the order of Beneficiary and which,by this reference,is made a part hereof,and any and all modifications,extensions and renewals thereof. The interest rate, payment terms,or the balance due on such note and the indebtedness evidenced thereby may be indexed,adjusted,renewed,or renegotiated without affecting the priority of this Deed of Trust. Each promissory note referenced in paragraphs IA, I and 1C above are herein individually and collectively hereafter referred to as the"Note." 2. Payment of all sums which may become due from Borrower under the Secured Loan Documents or advances by Beneficiary or its successor under the Secured Loan DEED OFTRUSr PAGE 4 HCC LOAM 92395 12187-560ZD0011128233474.1 tFJrF7 UNONCOPY) Docinuents,with interest thereon at the Default Rate(as defined herein),which include but are not limited to,fire and other hazard insurance and taxes upon the Property,according to the terms of this Deed of Trust;payment by the Borrowers of aU reasonable attorneys' fees and costs incurred by the Trustee or Beneficiary in foreclosing this Deed of Trust or realizing upon any of the collateral for the obligations which this Deed of Trust secures;payment by Borrowers of all reasonable attorneys' fees and costs incurred by Trustee or Beneficiary in defending the priority or validity of this Deed of Trust or the title to the Property,payment by Borrowers of all sums advanced by Beneficiary to or on behalf of Grantor for the purpose of clearing encumbrances or defects from the title to the Property where Beneficiary,in good faith,believes such encumbrances to be superior to the lien of the Deed of Trust,including,without limitation, payment of ad valorem taxes and mechanics'or materialmen's liens which may have gained priority over the lien of this Deed of Trust;payment by Borrowers of all reasonable attorneys, fees and costs hrcurred by Trustee or Beneficiary in any bankruptcy proceedings or any reorganization or arrangement proceeding under the United States Banluuptcy Code affecting any Borrower or this Deed of Trust,and payment of all other sums advanced by Beneficiary under the Secured Loan Documents to protect the Trust Estate,with interest thereon at the Default Rate. 3. Payment of all other sums,with interest thereon,which may hereafter be loaned to Borrowers,its successors,or assigns,by Beneficiary,when evidenced by a promissory note or notes reciting that they are secured by this Deed of Trust. 4. Payment and performance of all of the obligations of Grantor or Borrower under any loan agreement between any Borrower and Beneficiary related to the loan evidenced by the Note or related to any other indebtedness of any Borrower to Beneficiary when such indebtedness is evidenced by a promissory note or notes reciting that they are secured by this Deed of Trust(together wish all modifications,amendments,supplements, and exhibits thereto, the"Loan Agreement'). This Deed of Trust,the Note,the Loan Agreement,and any other document given to evidence or further secure the payment and performance of any obligation secured hereby may hereafter be referred to as the"Loan Documents_- Notwithstanding the foregoing,this Deed of Trust does not secure and shall not be construed as securing(a)any obligation of t_minor under(i)any Indemnity Agreement made by Grantor or any Borrower for the benefit of Beneficiary or(h)any access laws indemnity made by Grantor or any Borrower for the benefit of Beneficiary and(b)any guaranty of or any obligation of any guarantor under any of the Loan Documents. 'Ile term"Secured Loan Documents"means the Loan Documents except the Indemnity Agreement and any guaranty of any of the Grantor's obligations under the Loan Documents. ARTTCLE I, COVENANTS AND AGREEMENTS OF GRANTOR Grantor hereby covenants and agrees: DEED OF TRUST PAGE 5 HOC LOAN 02395 12197-56MOD0111?8733474.1 FEXE'UMN COPY] 1.1 Maintenance of the Property The Property shall be maintained in goad condition at all times. Grantor shall promptly make all necessary repairs,replacements,and renewals so that the value of the Property shall be maintained. Grantor shall.not couunit or permit any waste on the Property, Grantor shall comply with all laws,ordinances,regulations,and private restrictions affecting the Property. Grantor shall operate the Property in such manner as to prevent deterioration of the land and improvements including fences,except for reasonable wear and tear from proper use_ Grantor sbalI not demolish or remove any improvements from the Property without the written consent of Beneficiary. 1.2 Required Insurance Grantor shall at all times provide,maintain,and keep in force,or cause to he provided,maintained,and kept in force,the policies of insurance as required under the Loan Agreement. 1.3 Delivery of Policies;Payment of Premiums Proceeds (a) All policies of insurance shall be issued by companies and in amounts in each company satisfactory to Beneficiary. All policies of insurance shall have attached thereto a lender's loss payable endorsement for the benefit of Beneficiary in form satisfactory to Beneficiary. Grantor shall fiunish Beneficiary with an original policy(or certificate of insurance if acceptable to Beneficiary)of all policies of required insurance. If Beneficiary consents to Grantor providing any of the required insurance through blanket policies carried by Grantor and covering more than one location,then Grantor shall fiunish Beneficiary with a certificate of insurance for each such policy setting forth the coverage,the limits of liability, the nanze of the carrier,the policy number,and the expiration date. (b) At least 30 days prior to the expiration of each such policy,Grantor shall furnish Beneficiary with evidence satisfactory to Beneficiary of the payment of premium and the reissuance of a policy continuing insurance in force as required by this Deed of Trust. All such policies shall contain a provision that such policies will not be canceled or materially ameuded,which term shall include any reduction in the scope or limits of coverage without at least 30 days'prior written notice to Beneficiary. In the event Grantor fails to provide, maintain,keep in force,or deliver and furnish to Beneficiary the policies or certificates of insurance required by this section,Beneficiary may procure such insurance or single-interest insurance for such risks covering Beneficiary's interest,and Grantor will pay all premiums thereon promptly upon demand by Beneficiary and,until such payment is made by Grantor, the amount of all such premium shall be secured by this Deed of Trust. (c) In the event of loss,Grantor shall immediately notify Beneficiary,who may make proof of loss if it is not made promptly by Grantor. Proceeds shall be paid directly to DEED OF TRUST PAGE 6 HCC LOAN AMS 12137-5602.00011128233474.1 R3MCUMN COPY] Beneficiary who may compromise with any insurance company and make a final settlement which shall be binding upon Grantor. Beneficiary may,at its election,apply the proceeds to the reduction of the indebtedness secured hereby or to the restoration or repair of the Property. IA Assignment of Policies Upon Foreclosure in the event of foreclosure of this Deed of Trust or other transfer of title or assiglnneni of the Trust Estate in extinguishment,in whole or in part,of the debt secured hereby,all right,title,and interest of Grantor in and to all policies of insurance required by Section l.2 shall inure to the benefit of and pass to the successor in interest to Grantor or the purchaser or grantee of the Trust Estate. 1.5 Cndemnifeeation; Subrogation;Waiver of Offset (a) If Beneficiary is made a party defendant to any litigation concealing this Deed of Trust or the Trust Estate or any part thereof or interest therein,or the occupancy thereof by Grantor,then Grantor shall indemnify,defend,and hold Beneficiary harmless from all liability,loss,cost,or damage,by reason of said litigation,including reasonable attorney fees and expenses incurred by Beneficiary in any such litigation,whether or not any such Litigation is prosecuted to judgment. (b) Grantor waives any and all right to claim or recover against Beneficiary,its officers,employees,agents,and representatives,for loss of or damage to Grantor,the Trust Estate,Grantor's property,or the property of others under Grantor's control from any cause insured against or required to be insured against by the provisions of this Deed of Trust. (c) All sums payable by Borrowers hereunder and all obligations secured hereby shall be paid without counterclamlr setoff,deduction,or defense and without abatement, suspension,deferment,diminution,or reduction;and the obligations and liabilities of Borrowers hereunder shall in no way be released,discharged,or otherwise affected(except as expressly provided herein)by reason of(i)any damage to or destruction of or any condemnation or similar taking of the Trust Estate or any part thereof;(ii)any restriction or prevention of or interference with any use of the Trust Estate or any part thereof-(iii)any title defect or encumbrance or any eviction from the Property or the Improvements or any part thereof by title paramount or otherwise;(iv)any bankruptcy,insolvency,reorganization, composition,adjustment,dissolution,liquidation,or other Like proceeding relating to Beneficiary,or any action taken with respect to this Deed of Trust by any trustee or receiver of Beneficiary,or by any court,in any such proceeding;(v)any claim which Borrowers have or might have against Beneficiary;(vi)any default or failure on the part of Beneficiary to perform or comply with any of the terms hereof or of any other agreement with Borrowers;or (vii)any other occurrence whatsoever,whether similar or dissimilar to the foregoing and whether or not Borrowers shall have notice or knowledge of any of the foregoing. Except as DEm OF TRUST PAGE 7 HCC 1DAN OD95 12187-$6D2-00011128233474.1 D XECUTP;)V COPY] expressly provided herein,Grantor waives all rights now or hereafter conferred by statute or otherwise to any abatement,suspension,deferment,diminution.,or reduction of any sum secured hereby and payable by Borrowers. 1.6 Taxes and Liens Grantor shall pay before they become delinquent all taxes and assessments levied against or on account of the Trust Estate and shall pay as due all claims for work done on or for services rendered or material furnished to the Property. Special assessments shall be paid currently,without deferral,unless the lien for deferred assessments is subordinate to the interest of Beneficiary under this Deed of Trust,or Beneficiary gives its prior written consent to the deferral. Grantor shall maintain the Trust Fstate free of any liens or enc=brances except for Permitted Exceptions,the lien of taxes and assessments not delinquent,and except as hereinafter otherwise provided. Grantor may withhold payment of any tax,assessment,or claim in connection with a good faith dispute over the obligation to pay,so long as Beneficiary's interest in the Trust Estate is not jeopardized. If a lien arises or is filed as a result of nonpayment,Grantor shall within 15 days after the lien arises or, if a lien is filed, within 15 days after Grantor has notice of the filing,secure the discharge of the lien or deposit with Beneficiary cash or a sufficient corporate surety bond or other security satisfactory to Beneficiary in an amount sufficient to discharge the lien plus any costs, attorney fees,or other charges that could accrue as a result of a foreclosure or sale under the Lien- The assessor or tax collector of the county in which the Property is located is authorized to deliver to Beneficiary a written statement of the property taxes assessed or owing at any time. 1.7 Reserves Beneficiary may require Grantor to maintain reserves for payment of taxes(including special assessments and other charges against the Trust Estate by governmental or quasi-governmental bodies)or premiums on property insurance or both. The reserves shall be created by payment each mouth to Beneficiary of an amount determined by Beneficiary to be sufficient to produce by the date they are due amounts equal to the estimated taxes and insurance premiums to be paid. If at the time that payments are to be made the reserve for either taxes or insurance premiums is insufficient,Grantor shall upon demand pay,such additional sum as Beneficiary shall determine to be necessary to cover the required payment. If Grantor desires to carry a package plan of insurance that includes coverage in addition to that required under this Deed of Trust,Beneficiary,if allowed by law,may at its option establish and administer a reserve for that purpose. In such event the premium attributable to the required insuurance coverage shall be quoted separately,and Beneficiary may permit Grantor to finish a certificate of insurance rather than deposit the policy as required above. If at any time Beneficiary holds an insufficient amount in the insurance reserve to cover the premium for the entire package policy,Beneficiary may,at its discretion,pay only that portion of the premium attributable to the required insurance coverage. If the blanket policy DEED OF TRUST PAGES MCC LOAN#2395 12197-5602A00111ZK33474,1 [EXECUTION COPY? does not permit such partial payment,Beneficiary may use the reserve funds for the premium on a new,separate policy providing the required insurance coverage and allow the package policy to lapse. Beneficiary shall not charge a service charge for collecting reserves and paying taxes and insurance premiums. The reserves shall not constitute a trust. Grantor agrees that Beneficiary may commingle reserve funds with other funds of Beneficiary and need not invest them for the benefit of Grantor. Grantor agrees that Beneficiary need not pay Grantor interest on reserves,unless applicable statutes require payment of interest notwithstanding any contrary agreement. 1.8 Expenditures by Beneficiary If Borrowers shall fail to comply with any provision of the Loan Documents, Beneficiary may,at its option,on Borrowers'bellali;and with subsequent notice to Borrowers, take the required action and any amount that it reasonably expends in so doing shall be added to the indebtedness secured hereby. Amounts so added shall be payable on demand with interest at the default interest rate specified in the Note("Default Rate'l from the date of expenditure_ Failure to repay such expenditure and interest thereon on demand will,at Beneficiary's option, constitute an event of default hereunder. Beneficiary may,at its option,continence an action against Borrowers for the recovery of such expenditure and interest thereon,and in such event Grantor agrees to pay,in addition to the amount of such expenditure,all costs and expenses incurred in such action,together with a reasonable attorney's fee at trial and on appeal. 1.9 Utilities Grantor shall pay or cause to be paid when due all utility charges which are incurred by Grantor for the benefit of the Trust Estate or which may become a charge or lien against the Trust Estate for gas,electricity,water or sewer services furnished to the Trust Estate and all other assessments or charges of a similar nature,whether public or private,affecting the Trust Estate or any portion thereof,whether or not such assessments or charges are liens thereon. 1.10 Warranty;Defense of Title Grantor wan-ants that Grantor holds merchantable title to the Property in fee simple, free of all encumbrances other than the Permitted Exceptions(as defined in the Loan Agreement). Grantor warrants and will forever defend the title against the claims of all persons. In the event any action or proceeding is commenced that questions Grantor's title or the interest of Beneficiary under this Deed of Trust,Grantor shall defend the action at Grantor's expense. If any Permitted Exception is a lien,Grantor shall pay any sums and do any other acts necessary to prevent a default or prevent any action or condition which with the lapse of time,the giving of notice,or any other action of a creditor,would be a default or enable any creditor to declare a default or foreclose any Permitted Exception which is a lien. DEED OF TRUST PACE 9 HCC LOAN N2395 12197-56MOOOM 22233474.I [ERECiTMN COPY) 1.11 Condemnation If all or any part of the Trust Estate is condemned,the net proceeds of the award shall be paid directly to Beneficiary and be applied on the indebtedness secured hereby. The net proceeds of the award shall mean the award after payment of all reasonable costs,expenses, and attorney fees necessarily paid or incurred by Grantor and Beneficiary in connection with The condemnation. If any proceeding in condemnation is filed,Grantor shall promptly take such steps as may be necessary to defend the action and obtain the award. Grantor hereby assigns to Beneficiary the net proceeds of any condemnation award- 1.12 Imposition of Tax The following shall constitute taxes to which this paragraph applies_ (a) A specific tax upon deeds of trust or upon all or any part of the indebtedness secured by a deed of trust. (b) A specific tax on the owner of property covered by a deed of truest which the taxpayer is authorized or required to deduct from payments on the deed of trust. (c) A tax on premises covered by a deed of trust chargeable against Beneficiary under the deed of trust or the holder of the note secured. (d) A specific tax on all or any portion of the indebtedness secured hereby or on payments of principal and interest made by a Grantor under a deed oftrusi. If any federal,state,or local tax to which this paragraph applies is enacted subsequent to the date of this Deed of Trust,this shall have the same effect as a default and Beneficiary may exercise any or all of the remedies available to it in the event of a default Unless the following conditions are met. (a) Grantor may lawfully pay the tax or charge imposed;and (b) Grantor pays the lax or charge widtin 30 days after notice from Beneficiary that the tax law has been enacted- 1.13 Inspection That Beneficiary,or its agents,representatives or workmen,are authorized to enter at any reasonable time upon or in any part of the Property for the purpose of inspecting the same and for the purpose of perforning any of the acts it is authorized to perform under the terns of any of the loan Documents. DMA OF TRUST PAGE to HCC LOAN M2395 12187-5M.00011128233474.1 IMMCtTMN COM 1.14 No Waiver By accepting payment of any obligation secured hereby after its due date,Beneficiary does not waive its right either to require prompt payment when due of all other obligations secured hereby or to declare default for failure so to pay. 1.15 Accounting Financial terms used herein which are not specifically defined herein shall have the meanings ascribed to them under generally accepted accounting principles. For any Grantor or Borrower who does not have a separate fiscal year end for tax reporting purposes,the fiscal year will be deemed to be the calendar year. The financial statements and other information previously provided to Beneficiary or provided to Beneficiary in the future are or will be complete and accurate and prepared in accordance with generally accepted accounting principles. There has been no material adverse change in Grantor's or Borrower's financial condition since such information was provided to Beneficiary. Grantor and Borrower will (i)maintain accounting records in accordance with generally recognized and accepted principles of accounting consistently applied throughout the accounting periods involved; (ii)provide Beneficiary witli such information concerning its business affairs and financial condition(including insurance coverage)as Beneficiary may request; and(iii)without request,provide to Beneficiary the following financial information,in form and content acceptable to the Beneficiary. Provide to Beneficiary the financial information called for in the Loan Agreement. In the event Grantor or Beneficiary fails to furnisl,any of the financial information hereinabove required,Beneficiary may cause an audit to be made of Grantor's and Borrower's books and records,at Grantor's and Borrower's sole cost and expense. 1.16 Use of Property;Commercial Loan The Property is not used principally for agricultural purposes. The loan evidenced by the Note is not made primarily for personal,family or household purposes. ARTICLE H. SECURITY AGREEMENT;FIXTURE FILING 2.1 Creation of Security Interest Grantor hereby grants to Beneficiary a security interest in(a)the Personal Property located on or at the Property,including without limitation any and all property of similar type or kind hereafter located on or at the Property,(b)the Cash Collateral,and(c)all other Trust Estate property in which a security interest may be granted under the Uniform Commercial Code of Washington(collectively,the"Secured Property"),for the purpose of securing all obligations of C;rrantor contained in any of the Secured Loan Documents. DEW OF TRUST PAGE 11 HCC LDANfiD95 12187-56MWO1/129233474.1 UDMCU17DN COPY] 2.2 Warranties,Representations,and Covenants of Grantor Grantor hereby warrants,represents and covenants as follows; (a) Except for the security interest granted hereby,Grantor is,and as to portions of the Secured Property to be acquired after the date hereof will be,the sole owner of the Secured Property,free from any adverse lien,security interest,encumbrance or adverse claims thereon of any kind whatsoever. Grantor will notify Beneficiary of,and will defend the Secured Property against,all claims and demands of all persons at any time claiming the salve or any interest therein- (b) Grantor will not lease,sell,convey or in any manner transfer the Secured Property without the prior written consent of Beneficiary. (c) The Secured Property is not used or bought for personal,family or household purposes. (d) The Secured Property will be kept on or at the Property and Grantor will not remove the Secured Property from the Property without the prior written consent of Beneficiary,except such portions or items of Secured Property which are consumed or worn out in ordinary usage,all of which shall be promptly replaced by Grantor with an article of equal suitability owned by Grantor free and clear of any Gen or security interest except such as may be approved in writing by Beneficiary. (e) Grantor maintains a place of business in the State of Washington,and Grantor will immediately notify Beneficiary in writing of any change in its place of business- (f) At the request of Beneficiary,Grantor will join Beneficiary in executing one or more financing statements and renewals and amendments thereof pursuant to the Uniform Commercial Code of Washington in form satisfactory to Beneficiary,and will pay the cost of filing the same in all public offices wherever filing is deemed by Beneficiary to be necessary or desirable. (g) All covenants and obligations of Grantor contained herein relating to the Trust Estate shall be deemed to apply to the Secured Property whether or not expressly referred to herein. (h) This Deed of Trust constitutes a security agreement as that term is used in the Uniform Commercial Code of Washington. 2.3 Furture Filing This Deed of Trust constitutes a financing statement filed as a fixture filing in the Official Records of the County in which the Property is located with respect to any and all Dim OF TRUST PAGE 12 HCc LOAN#2395 121&7-56o2.0DO11128233474.I [EXECUTEDN COPY] fixtures included within the term"Trust Estate"as used herein and with respect to any goods or other personal property that may now or hereafter become such fixtures. ARTICLE M. ASSIGNMENT OF LEASES AND RENTS 3.1 Assignment Grantor hereby assigns to Beneficiary and grants to Beneficiary a security interest in all Leases and Cash Collateral as security for performance of all obligations contained in the Secured Loan Documents. 3.2 Representations and Warranties Grantor represents and warrants as follows: (a) Grantor has good right,title and interest in and to the Leases and Cash Collateral and good right to assign the same,and no other person has any right,title or interest therein. (b) Grantor has duly and punctually performed all and singular the terfns, covenants,conditions and warranties of the Leases on Grantor's part to he kept,observed and performed. (c) The existing Leases,if any,are valid and,except as disclosed to Beneficiary in writing,unmodified and are in hill force and effect. (d) Grantor has not previously sold,assigned,transferred,mortgaged,pledged or granted a security interest in the Leases and Cash Collateral,whether now due or hereafter to become due- (e) None of the Cash Collateral due and issuing from the Property or from any part thereof has been collected for any period in excess of one month from the date hereof, and payment of any of same has not otherwise been anticipated,waived,released,discounted, set off or otherwise discharged or compromised. (f) Grantor has not received any fiords or deposits from any tenant for which credit has not already been made on account of accrued Cash Collateral. (g) None of the tenants under any existing Leases is in default of any of the terms thereof 3.3 Covenants of Performance Grantor covenants and agrees as follows: DOM OF TRUST PAGE 13 HCC LOAN 02395 12197-5602.00011128233474,1 10MCUMN COPY] (a) Grantor shall observe,perform,and discharge,duly and punctually,all of the obligations of the Leases on the part of Grantor to be kept,observed,and performed;and shall give prompt notice to Beneficiary of any failure on the part of Grantor to observe, perfomn,and discharge same- (b) Grantor shall notify and direct in writing each and every present or future tenant or occupant of the Property or any part thereof that any security deposit or other deposits heretofore delivered to Grantor have been retained by Grantor or assigned and delivered to Beneficiary as the case may be, (e) Grantor shall enforce the performance of each and every obligation,term, covenant,condition,and agreement in the Leases by any tenant to be performed,and shall notify Beneficiary of the occurrence of any material default under the Leases. (d) Grantor shall appear in and defend any action or proceeding arising under, occurring out of,or in any manner connected with the Leases or the obligations,duties,or liabilities of Grantor or any tenant thereunder at the expense of Grantor. 3.4 Prior Approval for Actions Affecting Leases Grantor,without the prior written consent of Beneficiary,further covenants and agrees as follows: (a) Grantor shall not receive or collect any Cash Collateral from any present or future tenant of the Property or any part thereof for a period of more than one month in advance(whether in cash or by promissory note)nor pledge,transfer,mortgage,grant a security interest in,or otherwise encumber or assign future payments of Cash Collateral- (b) Grantor shall not waive,forgive,excuse, condone, discolmt,set off compromise,or in any manner release or discharge any tenant under any Leases having a term in excess of one year of or from any material obligations,covenants,conditions,and agreements by such tenant to be kept,observed,and performed,including the obligation to pay the Cash Collateral thereunder in the manner and at the place and time specified therein. (c) Grantor shall not cancel,terminate,or consent to any surrender of any of the Leases having a term in excess of one year,nor commence any action of ejectment or any su n uary proceedings for dispossession of the tenant under any such Leases,nor exercise any right of recapture of the Property provided in any such Leases,nor modify or in any way alter the terms thereof. (d) Grantor shall not lease any part of the Property for a term in excess of one year,nor renew or extend the teen of any Leases of the Property other than month-to-month rental agreements unless an option therefor was originally so reserved by tenants in the Leases. qEM OF TRUST PAGE 14 HCC LOAN ff2345 121874602.0001H28233474.1 tF MC MN COPY} (e) Grantor shall not relocate any commercial tenant within the Property nor consent to any modification of the express purposes for which the Property has been leased, nor consent to any subletting of the Property or any part thereof;or to any assignment of the Leases by any conunercial tenant thereunder or to any assignment or huiher subletting of any sublease. 3.5 Rejection of Leases Grantor fiuther covenants and agrees as fellows: (a) In the event any tenant under the Leases should become the subject of any proceeding under the United States Bankruptcy Code or any other federal,state or local statute which provides for the possible termination or rejection of the Leases assigned hereby, Grantor covenants and agrees that in the event any of the Leases are so rejected,ua damage settlement shall be made without the prior written consent of Beneficiary. (b) Grantor will request that any check in payment of damages for rejection or termination of any such Lease will be made payable both to Grantor and Beneficiary. (c) Grantor hereby assigns any such payment to Beneficiary and further covenants and agrees that upon request of Beneficiary,it will duly endorse to the order of Beneficiary any such check,the proceeds of which will be applied to any portion of the indebtedness secured by this Deed of Trust in such manner as Beneficiary may elect. 3.6 License to Collect Cash Collateral As long as there shall exist no defamlt by Grantor or any Borrower in the payment of any indebtedness secured hereby or in the observance and performance of any obligation, term,covenant or condition or warranty herein or in the Note or contained in the Leases, Grantor shall have the right under a license granted hereby(but limited as provided herein)to collect,but not prior to accrual,all of the Cash Collateral arising from or out of said Leases or any renewals,extensions and replacements thereoty or from or out of the Property or any part thereof Grantor shall receive such Cash Collateral and hold the Cash Collateral, together with the right and license herein granted as a trust fiend to be applied,and Grantor hereby covenants to so apply them,as required by Beneficiary,firstly to the payment of taxes and assessments upon the Property before penalty or interest is due thereon;secondly to the costs of irmzrance,maintenance and repairs required by the terms of this Deed of Trust; thirdly to satisfaction of all obligations under the Leases;and fourthly to the payment of interest,principal and any other sums becoming due under the Note and Secured Loan Documents,before using any part of the same for any other purposes. Upon the conveyance by Grantor and its successors and assigns of Grantor's interest in time Property,all right,title, interest and powers granted under the license aforesaid shall automatically pass to and may be exercised by each subsequent owner_ DFmOF'1RUSr PAGE 15 HOC IAAN ID95 12187-56aON111=3474.1 EE ECUMNCOPY] ARTICLE IV. DEFAULT AND REMEDIES UPON DEFAULT 4.1 Events of Default Any of the followiug events shall be deemed an event of default hereunder: (a) Default shall be made in the payment of any installment of principal or interest on the Note or any other sum secured hereby when due;or (b) Grantor,any Borrower or any guarantor of the indebtedness secured hereby as applicable shall file a voluntary petition in banlmlptcy or such a petition shall be filed against Grantor,any Borrower,or any guarantor;or if Grantor,any Borrower,or any guarantor shall file any petition or answer seeking or acquiescing in any reorganization,arrangement, composition,readjustment,liquidation,dissolution or similar relief for itself under any present or future federal,state or other statute,law or regulation relating to bankruptcy, insolvency or other relief for debtors;or shall seek or consent to or acquiesce in the appointment of any trustee,receiver or liquidator of Grantor,any Borrower,or any guarantor or of all or any part of the Trust Estate,or of any or all of the royalties,revenues,rents,issues or profits thereof or shall make any general assignment for the benefit of creditors,or shall admit in writing its inability to pay its debts generally as they become due;or (c) A court of competent jurisdiction shall enter an order,judgment or decree approving a petition filed against Grantor,any Borrower,or any guarantor seeking any reorganization,dissolution or similar relief under any present or future federal,state or other statute,law or regulation relating to bankruptcy,insolvency or other relief for debtors;or any trustee,receiver or liquidator of Grantor,any Borrower,or auy guarantor or of all or any part of the Trust Estate,or of any or all of the royalties,revenues,rents,issues or profits thereof; shall be appointed without the consent or acquiescence of Grantor, any Borrower,or any affected guarantor;or (d) A notice of lien,levy or assessment is filed or a writ of execution or attachment or any similar process shall be issued or levied against all or any part of or interest in the Trust Estate,or any judgment involving monetary damages shall be entered against Grantor which shall become a lien on the Trust Estate or any portion thereof or interest therein;or (e) There has occurred a breach of or default under any term,covenant, agreement,condition,provision,representation,or warranty contained in any of the Loan Documents or any part thereof,not referred to in this Section 4.1;or (f) A default occurs under any guaranty of a loan seemed hereby or any guaranty of a loan secured hereby ceases to be in full force and effect or any guarantor asserts that any guaranty is not in full force and effect or any guarantor shall die; or DJMD 01MUST PAGE 16 HCC LOAN 02395 12187-5602.00011r28233474.1 PMCUTK)N COPY] (g) The actual or attempted conveyance,assignment,transfer,mortgage,pledge, encumbrance,or other disposition of the Project,the Property,or Grantor's rights under this Deed of Trust in violation of the terms of this Deed of Trust or the Loau Documents without the written consent of Beneficiary;or (h) If the Loan Documents evidence or secure a construction loan,any of the following events shall also be deemed an event of default hereunder(capitalized terms not otherwise defined herein shall have the meanings given to them in the Loan Documents): (i) The dissolution,liquidation,bankruptcy,reorganization or insolvency, voluntary or involuntary,of the contractor,engineer or architect. (ii) Title to the Property is not satisfactory to Beneficiary by reason of any defect(even though the same may have existed at the time of any prior advance of the loan proceeds),except those matters affecting title which have at any time been consented to in writing by Beneficiary,or the Title Insurer fails or refuses to insure any disbursement to be secured by this Deed of Trust as a valid lien on the Property subject only to those matters affecting title which have at any time been consented to in writing by Beneficiary. (iii) Grantor and Borrower do not construct the Project substantially in accordance with all material aspects of the Plans and Specifications and all applicable laws,rules,regulations and requirements now existing or hereafter enacted,adopted or promulgated of all governmental authorities having jurisdiction over the Property, or Grantor fails to file with the appropriate departments of any governmental authority having jurisdiction over the Property amended or supplemental Plans and Specifications if required by law,or Grantor or Borrower fails to fiunish to Beneficiary written certificates issued by such departments approving the Plans and Specifications. (iv) The substantial delay,discontinuation,or prohibition of construction of Improvements on the Property. (v) Grantor or Borrower fails to comply with any requirement of any government authority having jurisdiction over the Property within the time required by such authority after notice in writing of such requirement shall have been given to Grantor or Borrower. (i) If Grantor or any Borrower shall be in default,violation or non-compliance with a Permitted Exception. 0) Any default by Grantor or Borrower or any guarantor of any of Grantor's or Borrower's indebtedness to Beneficiary under any indebtedness(whether now existing or hereafter incurred)in favor of Beneficiary or the failure of Grantor or Borrower or any such D®OF TRUST PAGE 17 HCC LOAN;92395 t2r87.56a2.000lf M33474.r [MC1TTIDNCOPY) guarantor to comply with or to perform any term,obligation,covenant or condition contained in any agreement between Grantor and Beneficiary or in any agreement between Borrower and Beneficiary or in any agreement between any such guarantor and Beneficiary(whether such agreement exists now or is hereafter made). (k) The Grantor or Borrower or any guarantor of the Grantor's or Borrower's indebtedness to the Beneficiary shall be in default under the terns of any loan agreement, promissory note,lease,conditional sale contract or other agreement,document or instrument evidencing,governing or securing any indebtedness owing by the Grantor or Borrower or any such guarantor to any third party and the period of grace,if any,to cure such default shall have passed- (1) Any judgment shall be obtained against the Grantor,Borrower or any guarantor of the Grantor's or Borrower's indebtedness to the Beneficiary which shall remain unvacated,unbonded or unstayed for a period of 30 days following the date of entry thereof. 4.2 Rights and Remedies on Default Upon the occurrence of any event of default and at any time therwfler,Beneficiary way exercise any one or more of the following rights and remedies: (a) Withhold further disbursement of proceeds of the loan that is evidenced by the Note. (b) The right at its option by notice to Grantor and Borrower to declare the entire indebtedness secured hereby immediately due and payable. (c) With respect to all or any part of the Property,the right to foreclose by judicial foreclosure in accordance with applicable law. (d) The right to have Trustee sell the Trust Estate in accordance with the Deed of Trust Act of Washington and the Uniform Commercial Code of Washington where applicable,at public auction to the highest bidder. Any person except Trustee may bid at the Trustee's sale. The power of sale conferred by this Deed of Trust and the law is not an exclusive remedy and when not exercised,Beneficiary may foreclose this Deed of Trust as a mortgage. Trustee is not obligated to notify any party hereto of a pending sale under any other deed of trust or of any action or proceeding in which Grantor,Trustee,or Beneficiary shall be a party,unless such action or proceeding is brought by Trustee- (e) With respect to all or any part of the Trust Estate that constitutes personalty, the rights and remedies of a secured party under the Uniform Commercial Code of Washington. D®OF TRUST PAGE 18 HCC MAN 42395 12197-5M2 OW1l129233474.1 [EXECU T)ON COPY] ( The right,without notice to Grantor,to terminate the license granted to Grantor to collect the Cash Collateral without taking possession,and to demand,collect, receive,site for,attach and levy against the Cash Collateral in Beneficiary's name;to give pi-oper receipts,releases and acquittances therefor;and after deducting all necessary and proper costs and expenses of operation and collection as determined by Beneficiary, including reasonable attorney fees,to apply the net proceeds thereof,together with any funds of Grantor deposited with Beneficiary,Von any indebtedness secured hereby and in such order as Beneficiary may determine. In furtherance of this right,Beneficiary may require any tenant or other user to make payments of rent or use fees directly to Beneficiary,and payments by such tenant or user to Beneficiary in response to its demand shall satisfy the obligation for which the payments are made,whether or not any proper grounds for the demand existed. (g) The right to have a receiver appointed to take possession of any or all of the Trust Estate,with the power to protect and preserve the Trust Estate and to operate the Trust Estate preceding foreclosure or sale and apply the proceeds,over and above cost of the receivership,against the indebtedness secured hereby. The receiver may serve without bond if permitted by law. Beneficiary's right to the appointment of a receiver shall exist whether or not apparent value of the Trust Estate exceeds the indebtedness by a substantial amount. Grantor hereby irrevocably consents to the appointment of a receiver on the terms set forth herein. Employment by Beneficiary shall not disqualify a person from serving as receiver. Upon taking possession of all or any part of the Trust Estate,the receiver may. (1) Use,operate,manage,control,and conduct business on the Tn1st Estate; (2) Make expenditure for all maintenance,renewals,replacements, alterations,additions,and improvements to the Trust Estate as in its judgment are proper; (3) Insure and reinsure the Trust Estate and all risks incidental to the possession,operation,and management of the Trust Estate; (4) Collect the Cash Collateral and any other revenues and income from the Trust Estate and apply such sums to the expenses of use,operation,and management in such priority as the receiver deems appropriate. Grantor shall promptly turn over to the receiver all documents,books,records,papers,and accounts,together with the amount of any deposits,rentals,and use fees from any tenant or other user. The receiver may appear in any proceeding or bring suit on Grantor's behalf,as necessary to enforce obligations of any tenant or other user, including actions for the recovery of rent and actions in forcible detainer, DEED OF TRUST PAGE 19 HCC LOAN 02395 12137-SE02.00017123233474.1 [FX.CUTON COPY] (5) Cancel or terminate any Lease or agreement for any cause for which Grantor would be entitled to cancel the same; (6) Extend or modify any Lease and make any new Lease on any portion of the Trust Estate. Any such instmuents shall be binding upon Grantor and all persons whose interests in the Trust Estate are subordinate to this Deed of Trust,and upon the purchaser or purchasers at any foreclosure sale,notwithstanding any redemption from sale,discharge,or indebtedness,satisfaction of the foreclosure decree or issuance of any certificate of sale or deed to any purchaser; (7) Complete any construction in progress on the Property,and in that connection,pay bills,borrow funds,employ contractors,and make any changes in plans or specifications as the receiver deems appropriate;or (8) If the revemies and income are insufficient to pay expenses,the receiver may borrow from Beneficiary such sums as the receiver deers necessary for the purposes stated in this paragraph. The amounts borrowed shall bear interest from the date of expenditure until repaid at the same rate per annum as is accruing on the Note. Such stuns shall become a part of the balance secured by this Deed of Trust and shall be payable by Grantor on demand. (h) Subject to arty limitations imposed by law,the right to obtain a deficiency judgment in the event the net sale proceeds of any fwmloslure sale are insufficient to pay the entire unpaid indebtedness secured hereby. (i) Any other right or remedy provided in this Deed of Trust,the Note,any other Loan Documents,or under law. 6) If the Loan Documents evidence or secure a constnlction loan,then Beneficiary shall have the right to take over and complete the work of construction,and,for that purpose,to make disbursements from the undishu sed loan funds. Any contracts entered into or indebtedness incurred on the exercise of such right may be in the name of Grantor, and Beneficiary is hereby irrevocably appointed attorney-in-faet(the appointment being coupled with an interest)to enter into the contract,incur such obligations,enforce contracts or agreements theretofore made by or on behalf of Grantor,and to do any and all things necessary or proper to complete the work of construction,including the signing of Grantor's name to such contracts and documents as may be deemed necessary by counsel for Beneficiary. In no event shall Beneficiary be required to use its own funds to complete the improvements if undisbmsed loan funds are insufficient,but Beneficiary may,at its option, advance such funds. Any funds so advanced shall be payable to Beneficiary by Grantor on demand together with interest at the Default Rate stated in the Note until paid and shall be secured by this Deed of Trust. DEM OF'TRLW PAGE 20 HCC LOAN 02395 1218T-560100011129233474.1 lExFzurrox COPY] 4.3 Foreclosure by Power of Sale Should Beneficiary elect to foreclose by exercise of the power of sale herein contained,Beneficiary shall notify Trustee and shall deposit with Trustee this Deed of Trust and the Note and such receipts and evidence of expenditures made and secured hereby as Trustee may require. (a) Upon receipt of such notice from Beneficiary,Trustee shall cause to be given such Notice of Default as then required by law. Trustee shall,without demand on Grantor, after lapse of such time as may then be required by law and after Notice of Sale and Notice of Foreclosure having been given,as required by law,sell the Trust Estate at the time and place of sale fixed by it in such Notice of Sale and Notice of Foreclosure,either as a whole,or in separate lots or parcels or items as Trustee shall dean expedient,and in such order as it pray determine,at public auction to the highest bidder for cash in lawful money of the United States payable at the time of sale. Trustee shall deliver to such purchaser or purchasers thereof its good and sufficient deed or deeds conveying the Property so sold,but without any covenant or warranty,express or implied. The recitals in such deed of any matters or facts shall be conclusive proof of the truthfulness thereof (b) After deducting all costs,fees and expenses of Trustee and of this Trust, including costs of evidence of title and reasonable counsel fees in connection with sale, Trustee shall apply the proceeds of sale to payment of all sums expended under the terms hereof,not then repaid,with accrued interest,all other sums then secured hereby and the remainder,if any,shall be paid into court in the manner provided by law. 4A Sale of Personal Property Beneficiary shall give Grantor reasonable notice of the time and place of any public sale of any Personal Property or of the time after which any private sale or other intended disposition of the Personal Property is to be wade. Reasonable notice shall mean notice given at least ten days before the time of the sale or disposition. 4.5 Due on Sale or increase in Interest Rate on Sale Grantor agrees and acknowledges that the indebtedness evidenced by the Note is personal to Grantor and Borrower,and that Grantor's personal responsibility and/or control of the Property is a material inducement to Beneficiary to agree to enter into this transaction. Any conveyance of the whole or any part of the Property,whether by deed,contract, further encumbrance(by way of any lien,mortgage,deed of trust or otherwise), lease of the same (other than a lease of any portion of the space in the improvements on the Property in the ordinary course of business without an option to purchase)or otherwise,without Beneficiary's prior written consent,or any transfer of capital stock or partnership interests or limited liability company interests in Grantor without Beneficiary's prior written consent, DE D OF TRUST PAGE 21 HCC LOAN#2395 12197-5b02-00011128233474.1 t0a{.'urzoN Copyl shall be deemed to increase the risk of Beneficiary,and Beneficiary or other holder may declare the entire unpaid balance immediately due and payable,or,at its sole option, it may consent to such conveyance,or transfer in writing and may increase the interest rate on the Note,change the maturity date of the Note,modify the loan terms,or impose whatever other conditions it shall deem necessary to compensate it for such increased risk. Any increase in interest shall entitle the holder to increase monthly payments on the loan evidenced by the Note so as to retire the obligation within the original stipulated time. In the event Grantor shall request the consent of Beneficiary in accordance with the provisions of this Section 4.5, Grantor shall deliver a written request to Beneficiary,together with such information as Beneficiary may reasonably request regarding such conveyance or transfer and shall allow Beneficiary 30 days to evaluate such request. In the event Beneficiary approves such conveyance or transfer,Grantor shall pay Beneficiary a processing fee in an amount to be determined by Beneficiary but in no event less than$500 to compensate Beneficiary for its costs in processing such request. Consent as to any one transaction shall not be deemed to be a waiver of the right to require consent to any father or successive hwmctiou. The execution and delivery by Grantor of any joint venture agreement,partnership agreement, declaration of trust,option agreement,or other instrument whereunder any person, corporation,or other entity may become entitled,directly or indirectly,to the possession or enjoyment of the Property,or the income or other benefits derived or to be derived therefrom, shall in each case be deemed to be a conveyance or transfer for the purposes of this section, and shall require the prior written consent of Beneficiary. In the event ownership of the Property or any portion thereof becomes vested in a person other than Grantor herein named,Beneficiary may,without notice to Grantor herein named,whether or not Beneficiary has given written consent to such change in ownership, deal with such successor or successors in interest with reference to this Deed of Trust and the obligations secured hereby,in the same manner as with Grantor herein named,without in any way vitiating or discharging Grantor's liability hereunder or the obligations hereby secured. 4.6 Attorneys'Fees In the event suit or action or proceeding is instituted to enforce any of the terms of this Deed of Trust,Beneficiary shall be entitled to recover from Grantor such sum as the court may adjudge reasonable as attorney fees at trial,on any appeal,and in any bankruptcy proceeding. All reasonable expenses incurred by Beneficiary that are necessary at any time in Beneficiary's opinion for the protection of its interest or the enforcement of its rights, including without limitation,the cost of searching records,obtaining title reports,surveyors' reports,demanding payment,attorneys'opinions, or title insurance,whether or not any court action is involved,shall become a part of the indebtedness secured hereby,payable on demand,and shall bear interest at the Default Rate from the date of expenditure until paid. DEED OF 7RUS17 PAGE 22 HCC LOANS2345 M27-56W-MW28233474.1 [FXECUTWN COPY] ARTICLE V. MISCELLANEOUS 5.1 Governing L2W This Deed of Trust shall be governed by the laws of the State of Washington_ In the event that any provision or clause of any of the Loan Documents conflicts with applicable laws,such conflicts shall not affect other provisions of such Loan Documents which can be given effect without the conflicting provision,and to this end the provisions of the roan Documents are declared to be severable_ 5.2 Modification This instrument cannot be waived,changed,discharged or terminated orally,but only by an instrument in writing signed by the party against whom enforcement of any waiver, change,discharge or termination is sought. 53 Inspections and Appraisals Grantor agrees that Beneficiary shall have the right to obtain,at Grantor's expense,an appraisal of the Property,prepared by an appraiser acceptable to Beneficiary and in substantial conformance with governmental regulations applicable to Beneficiary and approved by Beneficiary at any time that(a)an event of default has occurred hereunder or under any of the Loan Documents,(b)any damage or destruction of the Property occurs,(c) Beneficiary determines in its sole opinion that the security for the Note has been physically or financially impaired in any material Spanner, or(d)such appraisal is required by then current banking laws or regulations. In the event that Beneficiary shall elect to obtain such an appraisal,Beneficiary may immediately commission an appraiser acceptable to Beneficiary, at Grantor's cost and expense,to prepare the appraisal and Grantor shall fully cooperate with Beneficiary and the appraiser in obtaining the necessary information to prepare such appraisal. In the event that Grantor fails to cooperate with Beneficiary in obtaining such an appraisal or in the event that Grantor shall fail to pay for the cost of such appraisal and Beneficiary's internal appraisal review fee, immediately upon demand,such event shall constitute an event of default hereunder and under the Loan Documents and Beneficiary shall be entitled to exercise all remedies available to it hereunder and under the Loan Documents. 5A Reconveyance by Trustee Upon written request of Beneficiary stating that all sums secured hereby have been paid,and upon surrender of the Note to Trustee for cancellation and retention or upon payment of the Release Price(as defined in the Loan Agreement)and upon payment by Grantor of Trustee's fees,Trustee shall reconvey to Grantor,or the person or persons legally entitled thereto,without warranty,the applicable portion of the Trust Estate then held hereunder_ The recitals in such reconveyance of any matters or facts shall be conclusive DEED OFTRUST PAGE 23 HCC LOAN 42395 12187-5602000111=3474.1 PMC TIONC0M proof of the truthfulness thereof. The grantee in any reconveyance may be described as"the person or persons legally entitled thereto." 5.5 Notices Whenever Beneficiary,Grantor or Trustee shall desire to give or serve any notice, demand,request or other communication with respect to this Deed of Trust,each such notice, denaaad,request or other communication shall be in writing and shall be deemed given when (i)personally delivered,(ii)three (3)days after deposit in the United States mail by registered or certified mail,postage prepaid and return receipt requested or(iii)one(1)day after deposit with a nationally recognized overnight delivery service such as Federal Express or Airborne. Any communication which is mailed or deposited with an overnight delivery service as provided above shall be addressed to the address set forth at the beginning of this Deed of Trust. Any party may at any time change its address for such notices by delivering or mailing to the other parties hereto,as aforesaid,a notice of such change. 5.6 Acceptance by Trustee Trustee accepts this tntst when this Deed of Trust,duly executed and acknowledged, is made a public record as provided by law. 5.7 Captions The captions or headings at the beginning of each section hereof are for the convenience of the parties and are not a part of this Deed of Trust. 5.8 lnvnhdity of Certain Provisions If the lien of this Deed of Trust is invalid or unenforceable as to any part of the debt, or if the Gen is invalid or unenforceable as to any part of the Trust Estate,the unsecured or partially unsecured portion of the debt shall be completely paid prior to the payment of the remaining and secured or partially secured portion of the debt,and all payments made on the debt,whether voluntary or under foreclosure or other enforcement action or procedure,shall be considered to have been first paid on and applied to the full payment of that portion of the debt which is not secured or fully secured by the lien of this Deed of Trust. Further,the invalidity or unenforceability of any portion or provision of this Deed of Trust shall in no way affect the validity or enforceability of the remainder hereof. 5.9 Subrogation To the extent that proceeds of the Note are used to pay any outstanding lien,charge or prior encumbrance against the Trust Estate,such proceeds have been or will be advanced by Beneficiary at Grantor's request and Beneficiary shall be subrogated to any and all rights and DEED OF TRUST PAGE 24 HCC LOAN N2395 12197_5602,OOU1l12M3479.1 [EXECUMNCOPY] hens owned by any owner or holder of such outstanding liens,charges and prior encumbrances,irrespective of whether such liens,charges or encumbrances are released. 5.10 No Merger If both the lessor's and lessee's estates under any lease or portion thereof which constitutes a part-of the Trust Estate shall at any time become vested in one owner, this Deed of Trust and the lien created hereby shall not be destroyed or terminated by application of the doctrine of merger and,in such event,Beneficiary shall continue to have and enjoy all of the rights and privileges of Beneficiary as Eo the separate estates. In addition,upon the foreclosure of the lien created by this Deed of Trust on the Trust Estate pursuant to the provisions hereof any leases or subleases then existing and created by Grantor shall not be destroyed or terminated by application of the law of merger or as a matter of law or as a result of such foreclosure unless Beneficiary or any purchaser at any such foreclosure sale shall so elect. No act by or on behalf of Beneficiary or any such purchaser shall constitute a termination of any lease or sublease unless Beneficiary or such purchaser shall give written notice thereof to such tenant or subtenant. 5.11 Late Charge Grantor recognizes that default by Grantor in making the payments.under the Note and/or in any of the other Doan Documents when due will result in Beneficiary incurring additional expense servicing the loan,loss to Beneficiary of the use of the money due,and frustration to Beneficiary in meeting its other loan commitments. In the event that any payment or portion thereof is not paid within 15 days after the date it is due,Beneficiary may collect,and Grantor agrees to pay with such payment,a"late charge"of 5 percent of any overdue amount as liquidated damages for the additional expense of handling such delinquent payments. Such late charge represents the reasonable estimate of Beneficiary and Grantor of a fair,average compensation due to the failure of Grantor to make timely payments. Such late charge shall be paid without prejudice to the right of Beneficiary to collect any other amounts provided to be paid or to declare a default hereunder. ORAL AGREEMENTS OR ORAL COMMITMENTS TO LEND MONEY, EXTEND CREDIT,OR FORBEAR FROM ENFORCING REPAYMENT OF A DEBT ARE NOT ENFORCEABLE UNDER WASHINGTON LAW. [Signature Page Follows] DEED OF TRUST PAGE 25 HCC rnAN M95 12187-56o2 OMI/128233474.1 [EXECU MN COPY] IN WnNESS WHEREOF,Grantor bas executed this Deed of Trust as of the Clay and year fast above written. Grantor: ALBACORE ACH,LLC,a Washington limited liability company By. Miro}o Builders,LLC,a Washington limited liability company,as Manager By ame: .rite!!*XZLA-Z-V Title: Manager By Title: Manager DEED OF TRUST PAGE 26 HCC LOAN 02395 121 ST-5602000U128233474.1 IE UXI FWN cOM STATE OF WASHINGTON ) )ss. COUNTY OF ) I certify that I know or have satisfactory evidence that J 06f/Gt,aarz,6J(Ils the person who appeared before me,and said person acknowledged that such person signed this instrument,on oath stated that such person was authorized to execute the instrument,and acknowledged such person as a Manager of Mirojo Builders,LLC,a Washington limited liability company,the Manager of ALBACORE ACH,LLC,a Washington limited liability company,to be the free and voluntary act of such party for the uses and purposes mentioned in the instrument. Dated: AGrUf3--2 2-7 ,2015. g�ofNo ary LAURIE M.NYBERG NOTARY PUBLIC (print or stamp nacre of N tary) STATE OF WASHINGTON NOTARY PUBLIC in and for the State of COMMISSION EVIREs AUGUST 29 2017Washington,residing at: 14E-¢ My appointment expires:( DEED OF TRUST PAGE 27 HCC LOAN 02393 12.197-S6n0 09 1 11 2123 3 4 74.1 (EXECi MN COP]' STATE OF WASHINGTON ] )ss. COUNTY OF kC1 Af 61 ) r I certify that I know or have satisfactory evidence that ` osx�l.Qps the person who appeared before me,and said person acknowledged that such person signed this instrument,on oath stated that such person was authorized to execute the instrument,and acknowledged such person as a Manager of Mirajo Builders,LLC,a Washington limited liability company,the Manager of ALBACORE ACH,LLC,a Washington limited liability company,to be the free and voluntary act of such party for the uses and purposes mentioned in the instrllnient. Dated: 2015. A(S' tweofNc`ta1yf' LAURIE M.NYBERG �(Z NOTARY PUBLIC INGTO (Print or stamp name o otary) STATE IS ION EXPIRES NOTARY PUBLIC in and for the State of CL1Mi4E15S�f?N Elf?IRES Afl "T 2 28tI Washington,residing My appointment expires_ -1 DEE D OF TRUST PAGE 28 HCC LOAN 02395 12187-54U2.0DDIAN233474.1 FEKW MN COPY; EXHIBIT A to Deed of Trust LEGAL DESCRIPTION Real property in the County of King,State of Washington,described as follows: PARCEL A. THE NORTH 677.44 FEET OF THE WEST HALF OF THE WEST HALF OF THE SOUTHEAST QUARTER OF THE SOUTHEAST QUARTER OF SECTION 3, TOWNSHIP 23 NORTH RANGE 5 EAST.,W.M.,IN KING COUNTY,WASHINGTON; EXCEPT THE WEST 130 FEET OF PORTION LYING SOUTH OF A LINE 339-5 FEET SOUTH OF THE NORTH LINE; EXCEPT THAT PORTION OF SAID NORTH 677.44 FEET LYING SOUTH OF THE FOLLOWING DESCRIBED LINE_ BEGINNING AT THE INTERSECTION OF THE SOUTH LINE OF THE NORTH 677.44 FEET WfTH THE EAST LINE OF THE WEST HALF OF THE WEST HALF OF THE SOUTHEAST QUARTER OF THE SOUTHEAST QUARTER OF SAID SECTION 3; THENCE NORTH 87 DEGREES,49 MINUTES AND 08 SECONDS WEST ALONG SAID SOUTH LINE A DISTANCE OF 89.01 FEET TO THE BEGINNING OF SAID LINE; THENCE NORTH 67 DEGREES,07 MJNUTES,57 SECONDS WEST A DISTANCE OF 119.88 FEET TO INTERSECTION OF THE EAST LINE OF THE WEST 130 FEET OF THE SOUTHEAST QUARTER OF THE SOUTHEAST QUARTER OF SAID SECTION 3, SAID INTERSECTION BEING TERMINUS OF LINE; EXCEPT PORTION,IF ANY,CONVEYED TO JAMES L.DIXON,ET UX,BY DEEDS RECORDED UNDER RECORDERS NOS.6468344 AND 7207120398. PARCEL B: A NON-EXCLUSIVE EASEMENT FOR INGRESS AND EGRESS AS CREATED BY INSTRUMENT RECORDED AS RECORDING NUMBER 7609140487. Tax Parcel Number:032305902101 Sites Address: 150811waco Ave NE,Renton,WA 98059 101)OF TRUST PAGE 29 HCC LOAN A2395 12187-56OZOD01/1282334741 {E ECUMN COPY1 FIAT6 .14OW O-rl r-40 1,n-%Ao IL a off-70-!, 'V -flo I W Tog vfi.t)� a ".ono a the t &C to h �vnd 'to had p with a unto to 4e,t h ka. r 9 wv�i to. dach f Willlmm X ra a us Root 11 Dpme tlsl .a-t-to me By 9 Lo to -zidi Y Frank 8 of _G&;j 'Cj)=brf ,M M L X. indiv 4 . -A er 16 i6i A B r o o ke IQ P in and for:.: Ea 4. tt th aaa 3. r4Co Vo D -ei: 342 7 " ...... . 40 _Orlan do 'G Root A-, d' 4 r 4.0 A-. Sarab 'JM A,,rer unm & C� does Y�.4g.e- a p and her h to and a he _y a.%A-de Add t 0 the (m of co.dg to the ti ',aad, tr. f she -W t &0`:'to'' h a-nd to had p with a unto s p and to G'T %WOWA b A --fee; -gd- rtto, a &c f f J,.'. (a P cost to Pay 0 t Of abet 'and g w - FraxtceaA Root (sea] q a n D-i ego)an., ZrU74 ICJ. 0 5t;Y F,,:'A "R widow of G G R dead bef X 1, Freeland if p in, and th ;of'Gal reb at SanDiegr,. Seal. 000 Dead Filed dune Z.1,0592:15 pin. Vol D C34 293 D2 nated A 0b _P llo Con.$400 (For-- 5) Northern pa(- rtr Co kc To Arnold ','-iser ;:f rvton,r Recites CrAt by a contin writin3 dated Aug 5,1696 'Lqe Nor Pac 4-. 1no-ad Company predecessor In int of f p eon' tr�cted to sell 10' and cane to cyr-u is j .T-OV.e to home riF,!itG 3 p duly succeeded, for Y.".OaY,n',Y. 'R�'�^X. .y.�•�%G�li .rf. JJ yy,�r �. , .. u— _ _ 1 i t',.a considhere in expressed the prams hereinL-E t er dear ; that sd cont i has been duly perf and s p has become antitled to a n-onv of sad preens----- I The SR J- of tTie S3j of Sec 3 in up 23 N R 5 E M --40 ac-__ (copy min res) subj aluo tc an eaAement in the pub for any p-ub roaea eretofore laid out or estab and .ci ' c;%istcr ov and ac any part of sd desc la.-1Ld-----a:.nee Attu .311-896- 2. Wits r!nrp seaI4 1•Torthern pacific Railway Company By Howard F,11iott ,' PreBiaent ; Attest : R H Reif, Asai:,tant �;ecretary ' 8 of Mina Co of Ramsey)ss. ' June 10.05+ by H R as pr of sd c-rp bef R W Clark lv P R C4 Minn- Seal o 0000 Mat of M Filed June 22,05 2:16 PM. Vol ,. s!y I M A/k 342933 at ed ;rune 15,05 Con.��: O K A Mcquesten To Anton Rats and Rasa pau his wf F p does hereby ack and doe that a cart mtge dated tune 24,03 to sea 21VO' and' rec in the and 'off of 7,- (!o W' in Vol 212 of It p 4 601 has b6eit. fu31y pd and sat. And in consij of sd v�r paymt f p does hereby r r. and f q c unto is p and to their h and as f the land. -1esc in sd mt.r.,e tog, with a a:ids Chet &c To h and to h unto s V their h and as f �� 1 wit K A Mcquest en (Seal) as Co o f Frank3 in)as. 15,106 by. K A 14 bet Charles Allen it P in and for the S of Has rss3 at 4reerifiel.d. Seal, { 0000 ) I �{-a -D;:^d Filed Tune 22,45,2:17 pm. vo1 ���r� A ��7 3.42934 avid Tuii°e'. 19,05 Cone"41,000 1 A Frank S Smith and. Lena Smith his wf of Sp W To Frank W Goodhue a of am PI F, p d hereby g 'b; a s & c unto a p and to his h and as the f 1g idnd in g Co, W,t6.-Wit: ComMg at the XV car of lot or tract 21 of B Y7 Johns and C H Tyanlord+s 5 aic Iota end runny th S a3 the W b-dy line of ad 10 # l rh --,I'd F-6-2, tea 1 3 ; th at rt ang E par- with t:Ye N (mot WATER HZGAT EASEXENT ^� TH GRANTOR Tan B. Sosley and Grace A. Bosley. his wire for and Jvt consideration of lava aad affection ca0vey 10 Spiral M. Bosley a water right-and easemene on that real estate situated in the County of King, Staate of 'Xiishl"ton ofescribed as-, . That portion of the Nest one quarter of the SE' guaxter of the SE quarter of Sec, 3, T, 23N, H. -S E.; W.il., lying North of State Highway No. 2, (Hen ton—Issagtta"amd), cxGept cite 'Nest 130 ft, less the Horth'33?•.57 ft, theieof and except the East 100 ft. less-the North 411.51 ft, thereof; said water right to be-the right to use +raker fro^ the 9%tstin•1 +roll located approximately 195 feet from the southerly r.7argin of Said :i property; and the easement to be for the installation of a ;iatpr line from said trell to the adlaaont property to the north, ivt ,i iii,• grantee •havfng the right to install and maintain said i%atpr tine, subject to the condition of eepairing any daroge char :( thr+ prc—rtt fn the process of Installing or repairing, 810 the itractpr shall 17lt•t ro the, riglit to use Suet: hater from the tell ro lonq as call, ;,.it usable from a health standpoint and availalaie, for thr d,rrir•strr ,lap nr ttio houSeS, and the grantee or his 4v- rpssr,rs shall 1+aY C tIt0 grantor or his successors crater rates co-,,parahlc t++ r1. <r. '+i t)1 CiL• of Renton. VATF.:1 Ctt Uq St. t""li, �lQ r r� 7 v E 5Ta'fF .�E' ' A-11ltIN' Ss GrJLItTY 1W KING ) On this day porsonalIy appeared hotrirr •a Dan 1 , u,,s;rr al,•1 Spira4.3i, 11051ey tg me known to tic the• tn777 rldst7.i s dt•41 r7t,1 iE 777 anft xft72 * yuted the Ili thia and rorC9oinq t 75trurlrnt, an+f ar r. +i lt•rt•lpd tfl-6l ot1 4'5igned the same as their f rrr ynei v+ iunLors acL nr E •ii-, -1. i9�T 4lfa.d�e.9 and purposes therein nenttonrd. �Edi.ander my hand and offia•EaE sral thjs ltth dati n; !'r• t75L, ,,,9F•�'#°r`�. __ �+i r:,ir r E':1131.l i'~i n ^(tt'{�t�i r•t Ir,�4 i b L.- trt 1 it JE, Ii, rr'_1'lirI at n71rn. It t':ird Building Credirm, InC. ;' '° r �.J ,� y, 7.i71 F!Purth A4rnoid �'A r-r'd9o7 . Y-'17.!• 1s Washington it ZA SEMENT � THE Grantor, ARLENE BOS..%Y, a single woman, hereinafter referred to at the first party, METROPOLITAN FEDERAL SAVINGS 6 LOAN ASSOCIATIOv, C:� hereinafter referred to as the Mortgage holder, for and. in consideration of t1.e sum of $1.00 and other good and valuable considerations convey to LLORA S. MANGOLD, a single woman, and her successors in title, hereinafter referred to as the second ti party, an easement For ingress, egress and utilities on, over and under the Westerly 30 Feet of the fallowing described real estate, situated in the County of King, State of Wash-ington: The West 130 feet of that portion of the West one quarter of the Southeast quarter of the Southeast quarter of Section 3, Township 23 North, Range S East, W.M. , lying North of State Highway No. 2 (the Renton- Issaquah Road). . LESS the North 339.51 feet thereof. said easement to be for the benefit of the following described real estate in King County, Washington: That portion of the West one quarter of the Southeast quarter of the Southeast quarter of Section 3, Township 23 North, r Range 5 East, W:M., lying North of State Highway No. 2, (Renton-Issaquah Road), EXCEPT the West 130 feet, LESS t, the North 339.51 feet thereof and EXCEPT the East 100 feet, LESS the North 411.51 feet thereof. This easement is granted on the condition only that the second party will pay one half of the reasonable expenses incurred by the first party in maintaining the easement. The first party shall not be liable for any expenses for improvements or maintenance of this easement authorized by the second party without the written approval of the first party executed prior to the commencement of installation of said improvement. Metropolitan Federal Savings 9 Loan Association is the holder of that certain Mortgage recorded-February 23, 1966 under Auditor's File No. 5991922 and by their execution of this Easement only approve the same for the benefit of the above named parties as the same may' relate to the rights held undor ' the mortgage set forth above. I; TFD_this day of September, 1976 •-, NE S Boe 4 OPAL TA EDERAL AVI4 P, LOAN ASSOCIATION k 1%EXCISE TfVA NOT rro!Jirm — ,. By. .............�� STATE OF wiaehington 1. County of pn-W loth dxy of tetater A.D.14--76 6efarema the undersigned,allotamy Washington du! commissioned and swore pemoaft RtbGc m and for the State of Y appeared fttrletta (A. J j Bosley e N lX]to me known to be the individnal_.—descni6ed in and who executed the foregoing instrument.and acknowlet$ged to me Nr } that_ihe—domed and pealed the said instrument as Yt .—free and voluntary act and deed for the uses and pmposen ET �tberein psen{soeed. Wl I1YFa5 p5Y hand and aFftcia!weal hereto affixed the dad ear in this eettiEycnt above written- (_ 3 N rs P++h33e is a&d ff6t the 9tat .t bE sE1'ik tar]. 1aylprLds (Acknorlcdameae by]..di.idusl. P(anaer Nstla.ut Tiele Ynpnranee Camppny Furor L 28) ' STATE OF W on County of " 0a the loth day of Seiltember A.D. !42 before ate;the undo- signed.a Notary Public in and for the State of W on defy t Amssiproned and sworn personal appeared Ferris L. Dracobly - and Rica=d H. Shorett J'r. to me koown to 6a the Yietr- President and—__-_ rtapa[tin tly.of f i Metropolitan Federal Stv_i arg Lien 9neoClatfon of 9eattjp the Corporation that executed the foregoing instrument,znd acknowledged the said instrument to he[he free and vaiun- tary act and deed of mid rorporation. for the uses and purposes therein mentioned.and on oath muted that-.--AaY are authorized to execute the said intenmtent and that the sea)aHutod is the corporate sea)o cot corpotatioR.h• . 30V1Th1ES -Mf hand and official seal hereto affixed the da t%x in this rtiFicate a6o•:f-written. _ Pahlie is sad for the State of Vanbl ngjan f 21 Funds . re>,dias■. • (Acknowkdsmsnt by Cerperation. Pioneer NadonWride lnsurinre C—pany.Farm L 29) t t W 19Tb .: 14 M a M DIRECTOR RECORDS&ELECTIONS p ,r1,,OV 97 49-08 W r+rwrf//r �• i' t..v` -• I.F.a-Y:!•F�+T ; y q Y O 00 DESCRIP-rION. Nock: 7TI!MLwWlN6 DESE0.1rrMr.ARE P"S YT LEGOLS AND PD NOT IMT OE PRDPPSBP LOT LINE 1F ' . AyJV3T'IyENT. u = TAX LOT 21: 1=50r wee Na.TebRfsPTii� _TRO 1NAA1 'MF!TaT w T'N■vlvT(/2�'rxi 1RT I/l- � Q _ `uF Txe ac yer Pr Ile as ef}ep acc a,:TYaril:Rlfr,Jy rx,.. "� � IM KINF CDUNTyr WAONNfANj 6%Cl PT Gpw�;ANb,�Nrxe,lAG•, �� K k G �'M �' - � ,r<r«la;[xrrl•r Iar.,TOH,IF Alvr,m.IvFVes To.tpea e.arxiwA � ��� � 21 MY Dm.ftffl a Nx A AM;-Flex Ao6:fuiisti tF P *1T7,644 rq s.x± AxD 7=D71xbs+a;1S1?CEPT Tale wcct rsP FeET PR iur�7TaY •.. ++` � 0 c' e l fn R 4.87}Aida! LYfxi SDUTYf el A UM! 331.Y KeT.T.IfTN aF'TY/i wwlYN Nnr uxe AOT SfT1PVF LRE;sUBBOT TO Ixi1�WnRNT3 M_J�dMID p Mj%.:.�'(� T06T.TNER WITN W FOar-g3LMbIT PPR lx NlIYI�P&":A., 6 N 1'1iijP U 4TarrTEd -at TNO WQaT x FoI7 as TR rty p.r+et U r,. TR4 west rad PEt"Of TRAT P-"-w oP 7uC 1WP.sr W w� to's DA Txi S6 Sf4 9F 7N! 5!1,4 OF SJ7CT 4,T2dwSj A:SL� �U W.x-!LYAvB HO__AIlTT/OF S1A�HYn'Aw..Y'(7w RdY]erl-. nt-r SSfAptYIN AMuA.LL53'T I¢'YORTHY34.S/LiFr lwtltib.4 49=479 W sm..ewae ..� �F cnl(-.-r..wt_� -.. �:. O tray : SAX L07-J67-tL QC E ,r„ �•. C REG N0. i ff TNAr PPrnoN oNTHR wR�T I�i:nr TnK LrRir}/a aT TLLy A!'N �Yy rr.^� .Q aF TeR ae Va OR aICTIby 7,T ie N.r A:Si.�}f,n�ly w11G yyyq �, PiUNTY,WA3NIY{TON r'LyrNp NORTx1Ny:yF aTATR�TptiMo xo.1� �~I1b p! �C��T Txi weCs+DP FE[T:�YxCZPT Tx!NPRTN'.4.R F6CT 0 }a}..4 S N AND L:xe'uT T41'T P9RSra,+ LY 4ai T Tww oP Ti¢/euaMN6 �Qx3 w i DlaWBED ulal,�eilMlibf6,;AT TNK�!?tnC'�LcnaN eR.'++Ic uaa'rx IN r uNR pa iTATe,'i1a1C No.;WITH'fRe[AAT uNb'vR SA,D `41 a; q L ; I`'� �j SV[DN+yWui Ti4 Wii 1x h�M'+RIM WiSstALY OIAiZ-+TOY Av A Pave ��IrZ `1 J �r Tb n!i lI.NL W Il-N A'Al�rr{s aR 3°7�rS1 F2CTr A P13TR.,[E aR �fQ' b ry Il}.i}f�F'r;IP Tf![QY6i4WY6 DR:SAIO`NM6�TILJQr H 11�93•!56 in`�a q 3 �' fOS.S FELT`gD A PYVaT IDO T Wps�DF 77f6 EA.T 1- aA I � I hf�+,41' n TNS avail NlfleY:TM.R'S PWTW11ruR.N'If•33-IS E iz,SO FpFT 3 r •5 -,o Tlax TERxjwud re va uxe ! E 3T 9flR nrr TS SLN1lRSrR�'1tJ.�-Ipla;AA1 =SEJNATIakS aP 3 sIF , _ Y 7Ax LOT_2 r A :Z: AYa. � :wa Ramf i'7J;.FRT hs MENt,Rt9 AlowG TFIR$VT laNE pF = i� >� RJI➢T 1P4 FI17lT OF TIMT PoRYwN pR WgT 1/Y OR wnsT{l1 - : 2 I nrl vF N47 •OF A SrOF SE 1 dp /!• .WTr Tn+3�r23 M.�Rsa.r w.tL�rN s a}.a1`� I�INb aauuky,wASH =oN�lrixtr NDATROM.6P 5TRi8 h'WYW.Z. _1 e V I ry7 M :' �e�i�c•, MPTE3 SEC➢16GIMo,.,S�vR FPR AY+4T IG'!Pa 1L LOT -, 3. NdT- p � '�{Yt '~� -�.4+w.a?i,H.� ..v,.• ':.L.1r1R;Aq]1lS TMI(fIT THAT AFft�Ty TAC WRaT aalNDA1Y OPTNIs I �Lwi ar w .7 a r'� b-ayewe-t '3' !ry mrd C_ q .: .••. ''.. ':. '� - ❑:f8'_ai Lair.IrC � =—, ".. ". R•7tTq - Q ' wlrl RAr F,cLI wr wwr W ,e'�ry- r y:, DECLARATION OF CONDITIONS, COVENANTS AND RESTRICTIONS REGARDING FORMATION OF A UTILITY LOCAL IMPROVEMENT DISTRICT In consideration of approval by King County of a wilding C permit/approval for the property or Plat) described below, LLDRA S. HAERTINS r44 (Cwner(SJ Names) pV property owners, hereby covenant and Cp agree as rollows: 1. I/We are the owners of property within King County, which is ler;ally described as follows: (Legal Description i SEE ATTAUED LEw4L DESCRIPTION REr[, F 8.00 j 22 2. I/We have requested the issuance by King County of the 5 , following permit or approval for the above described property: (job No. or Plat No.) - ' 3. Pursuant to King County Ordinance 5828, section 4, the above described permit or approval is exempt from '•-ing County's 1 requirements for fire hydrants and water mains. ' 4. Recognizing the above facts and in consideration of Y.ing County's issuance of the requested permit./approval: I/we b-2reby agree to join in the execution of a petition for and not to protest, the'+formation of a utility local improvement district for.purposes of providing water mains and fire hydrants consis- tent with applicable King County standards. For this purpose, I I/xe hereby designate the manager of the public water district responsigle for the local improvement district as our agent fauthorized to sign a petition pursuant to RCW 57.15.060 on our behalf. FEB 17 8 ji Ali"01 --7 — -, - — The North 677.44 feet of the West v,of the West ,of the SE a of the SE 4 of Section 3, T 23 0., R 5 E., N.M., in King County, Washington; EXCEPT the Nest 130 feet of portion lying South of a line 339.5 feat South of the North line; EXCEPT that portion of said North 677.44 feet lying South of the following described line: Beginning at the intersection of the South line of the North 677.',4 feet with the East line of the Nest 4 of the West k of the Southeast ; of the Southeast of said Section 3; THENCE N 97-49-06 W along said South line a distance of 89.01 feet to the beginning of said line; THENCE N 67-07-57 W a distance of 119.88 feet to intersection of the East line of the West 130 feet of the Southeast h of the Southeast % of said Section 3, said intersection being terminus of lire; EXCEP-i portion, if any, conveyed to James L. Dixon, et ux, by deeds recorded under Auditor Ple Re, 646B344 and 7207120398; EXCEPT coal ani mineral rights; TOGETHER WITH easement for ingress, egress and utilities by instrument recorded under Recording No. 7609140487; SUBJECT :0 easements, reservations, restrictions and rights of record, if any. f 7 1 1 7 1 k t s c OLLO/for Hecartl at bequest of j- 1 r R' S. This Declaration of Conditions, Covenants and Restric- tricts is binding upon our heirs,assignees and successors `n interest as the owners of the above-described property and is a covenant ximning with the land. 6. This Declaration of Conditions, Covenants and Restric- tions shall not be released without the express written approval of the King County Fire Marshal or his successor. OWNER (Signature) DWNra {signat=) On this Ufa day o£ 19gy, before me personally appeared L L oRA i to me known to be the (individrilp) ( of the Corporation) described herein and who executed the foregoing instrument as their free and voluntary act and deed for the uses and purposes herein mentioned. Witness my hand and seal hereto affixed the l(o�Lday of LIE Notaty Pub i and or e i State of wa gton, residing + at nt7Ft`o. S 1 t i i r I 5 I I itLLU t©r t�eeu}rd at Request ? r^. c �d �N j KING COUNTY WATER DISTRICT HO. 90 KING COUNTY, WASHINGTON AGREEMENT FOR TEMPORARY WATER SERVICE THF. UNDERSIGNED tZM S. Miu'a G HRFDID C. MWWMV (husband and wife), owners ot the o owing escr a rea pry ' in King County, Washington, t,)-wit: (insert legal description)p y N 677.44 It of w W2 of the W. 0 of S.E. 1/S of S.E. 1/4 less w 130 Et of Pmmttm lying south of a line 379.5 ft S. of N. in lobs per ly S of feiq dam In--beg intsn of S to of, etc. 'J - 10 1 on For and in consideration of King County 'dater District No. 90, King County, 1lashington. hereinafter -ailed District•granting permissina to connect a private temporary water lire to said property, does hereby agree as fe) lows r I. IrSES; Water Service shell be for one single family home. E- E:,S MENTS: The Owner shall obtain from others at his sote cost, all easements w ich may be rrccessary fo, the installation of the temporary service line; and if regaire', by the District as part of the consideration for said permis..ion, the undersigned shall grant and con•rey tr the District easements over, through, under and arross the above described property for water mains and appurter.:,nces for the implements.-ion of the comprehensive plan or for the improvement of the water supply of the system of the District. 3. COSTS: Inc undersigned agree to pay the following costs: i (see att4chad amaxkm=rtp a) meter and service installation $e char v � g .7i 7.i' b) general facility charge• c) special temporary service charge 6 These charges must be paid prior to the District providing any service. (installation of meter, et cetera) 4. TERM - LENGTH - OF AGREEMENT; This temporary service agreseat, and the temporary service prove a ere y, shall terminate at such time as the Districe -:as permanent water main service available for the property here in giestion; PROVIDED, ttat the undersigned shall be entitled to thirty (30) days' notice of the termination of said agreement. FILM i r RecorVI ,. f �w #7 a RE•£D F 8.00e*de_00 5t .ra�~ - _, .. "tea• - .- P.P'iVr')liRRi�IEFWIIE CF.L-0lb iZ.=���A' I,aS',LWip11iRS'Zir7f31aS: Y�' h.1�i.,.ywl ,4 .1 i� � •;F1 y.. F IM..j3i•�. :*iri �y.�.�.�..�.....- •...•-�+��•M �...-.... -�----' .--�• .�___._.�.-mow l}r '�S�fr�,k��• �.,1��.•� ttit �G.{ ti S. PERMANENT WATER MAIH: AL such tine r.: ft..- Uirt ri,'L r.as available to the undersigned's property, warr•r 'u•rv:cv firm a permanent main, the undersigned .shall connect to ;aad ndir%; ored at such time, pay to tha District the pror.rla rr,-ct of sd16 malt. which is properly allocated to his property and %hall further pay the cost of moving the meter from its origin,] location to connect to the new water main, toac-thar with the rost of connec- tion. It is agreed and understood that thr cosL of such future ..In shall include the installation and construction expense of said wain, the District's administrative overhead charge of 22Z—% the engineering and legal expenses attributed to such main con- 'a strtictien: pursuant to Resolution No, 262, Resolution so. 352 aald Resolution No. 157. 1 rJ 5. ACKNOWLEDGEMENT OF FIRS PROTECTION PROVISIONS: That attache hereto Is an ac now a gement by the owner--applicant „p that the ter*orary water service may not be consistent with ' Ll the King County Fire Code Ordinances in providing adequato water flow for fire protection, 7 i TERMINATION: If this agreement is not fulfilled by the undersgned within ninety (905 days from the date of its exe- cution, then the Agreement shall become null end void and the application fee, to be distinguished from the costs provided for in paragraph I above, shall become the property of the District and all right.e c)F the owner and/or undersigned snail be terminated. 8. TITLE PARTIES BOUND BY THIS AGREEMENT; This agreenent shall be a covenant running with t re� a'nd-a hall tie binding upon the undersigned, any and all successors in :ntenat, heirs, i personal representatives, assigns, rentora, and lessors. I IN WITNESS WHEHEOF the parLie; hav 'exec th _ agreement the 19 day of A___, O:Y,;Ek KING COUNTY KATER DISTRICT Ito.90 c aif / t �t o DISTRICT _ -2_ S STATE GP WASHINGTON) ss County of King ) I On this day personally dppea re.! hrfore _ the . ar known t� bP fhr- indiv idual(s) descrl4ed an and wh xecuted thr- Core �y j��g instrument ar.A acAnowledrled that� signed same as�,(I- free .and voluntary pet and deed for the es and purposes fhPrc;an . iloentioned. QGIVEN under my hand and offici,.i se,rl this 1 day Of ' r.fARY PU81.IC'i L oo r .� C7 the State Of Sh ynyton, Jl r,-si ding at STATE Of WASHINGTOH) ? ss County of King ) On this day personally appeared before me _n r��{ oe K,,c j fi.ih.a.t,! f3,sw..T to me hnowp to be the ! President 6 •espectively of RING COUNTY WATES Dl5- TRICT 90, and acknowledged that they were authorized to execute the within instrument on the District's behalf, that they execute same as their free and voluntary act and deed for the uses and purposes therein mentioned. GIVEN under my hand and official seal this day of �ARcA 19e�. $OTARY PUBLIC i an or the State of Washington, residing at SE 13.17Z a. per'' "`-� i' •..t.-, -._ .. .. -. _ '_'i" .? 20000q08c400007 L10 31 SE 1/4, SE 1/4., SECTION 3 TOWNSHIP 23 NORTH, RANGE 5 EAST, W.M. 14 Y81 or w 0 a-W w 1p IQWN�,1111' Zl N111 -5-* J, 0 is iA S�f REEIA=fOl.D2 7 NORM SCALE. 1' � 4-0 SET r UNE SWE.ON PACO.LINE D.+ -dF Qi!4GH WOOD 1/4. SEI� W= t'A;,d BASIS OF BEMINC x i n,to EAST LINE OF SE —3� T 23 N.:V..5 E. W.M. or M YM; I N 137'49'08 W BEARING; NOV 25' DZ"_E DAT.L K:��-A.S- INSTRUMENT USED I$-4 NIKON GTM A-29LG �P' 2 5 SECOND TREOQOILITE—EOM-ANVRUMQyT t C/ff Rtb-wf W�q:jIO702 ....... % :7 LEI GAL DESCRIPTION THE NORTH UWE OF THE WEST 130 FEET OF 7HA7 PORTION OF THE WSf HALF QF VIL WLST HALF OF THE r SOUTHEAST QUARTER OF TW-SOUTHEAST QUARTER OF SECTION 3, TdWNIHIPT 23 NORTH, RANGE5 EAST. W.W., IN KING COUNTY, WASHINGTON, LYING NORTH OF THE STATE HIGHWAY , C NO. 2 THE RENTON—is SAQLMH ROAD); EXCEPT THE WORM 607.5 1 FEET THEREOF. 0 ✓ 1110 NOTE L L The drawing shown hereon du-not necessarily13 0 2Z contain all Ol the wl.—fl.n ahl.i-d and/a, t D 45-12,am-W AND wEA&�� developed by the the SURVEYOR in his field work,work, olTce or research. RECORDER'S CERTIFICATE SURVEYOR'S CERTIFICATE ri irNT d f., rtS�gd this has day ThTs map corc-tly r.p--k.a--y—de by we McGHEE ARNM, JkC. 2cou. aQ��L2),L j��haak tqiL of 5mugo at p.q.41 under my dlrootTon it coni.......w+kb tha requTr"ents LAND l31JRVLYlN.q-SFRMGES at the request of ALBERT W. ARNETT- of the Survey Recording Act at the reqUagi of WcCKE. E30UNDARYSURWY 6947 COX 1EL(4256)25&-,t99 NORTH LINE OF McGHEE'S PROPERTY S:Ep$t::v2Ek' 00M.2 onagerLJALrS�Racorda 10930 144TH AWNUE SE Mbffri N.Arnatt, P.L.& No. 1002 RENTCK WASHINGTON — I AMA -40 6: 20050621002061.001 20060621002061 After recording return to: PacEeei 0F�aae 24.00 eel 21l2805 1S:5Z KING COUNTY, WR Joshua Rosenstein HANSON BAILER LUDLOW DRLTMHELLER P.S. 10777 Main Street. Suite 300 Bellevue,Washington 98004 DOCUMENT TITLE Memorandum of Agreement GRANTOR Llora S,Maertins,as Trustee of Llora S.Maertins Revocable Trust 131D 3-14-05 GRANTEE KISS Development Corporation,a Washin ton corporation LEGAL DESCRIPTION Portion of SE'/a of Sec.3,T.23 N.,R,5 E. W M. ASSESSOR'S PARCEL NOS, 032305-9021 MEMORANDUM OF AGREEMENT V n 3 T& t THIS MEMORANDUM OF AGREEMENT is to provide notice that an Agreement Between Neighbors of even date herewith("Agreement")has been executed by and between Llora S.Maertins,as Trustee of Llora S. Maertins Revocable Trust UTD 3-14-05("Maertins"),owner of real property legally described on Exhibit A, attached hereto and incorporated herein (the "Macrtins Property"), and KBS Development Corporation, a Washington corporation and/or its successors or assigns ("KBS"),owner of the adjoining real property legally described on Exhibit B,attached hereto and incorporated herein(the "KBS Property"). Pursuant to the terms of the Agreement, Maertins has agreed to convey certain easements for access and slope and construction across the Maertins Property for the benefit of the KBS Property. The easements will be recorded upon the occurrence of certain events described more fully in the Agreement, The Agreement imposes additional obligations on KBS, Maertins and their respective heirs, successors and assigns,and by its terms and by recording of this Memorandum runs with the land. Pursuant to the Agreement, if the Plat of Windstone ICI', City of Renton File No. LUA-04-135, S.HPL-H ("Windstone 1V"),which plat subdivides a portion of the KBS Property,has not been recorded on or before December 31,2008,the Agreement shall be null and void and two of the Easements described in the Agreement and held in escrow shall not be recorded and shall be returned to Maertins. This Memorandum may be signed in any number of counterparts,which together shall,constitute a single document. [Signature page follows.] Page 1 of 6 W.'�wPoocs1240251o04uSR2477.Doc&I R2005 Memorandum of Agreement 20050621002061.002 DATED this /5 day of 2005. MAERTINS: KBS: _ KBS Development Corporation,a Washington � — corporation. LLORA S.MAERTINS,as Trustee of L1ora S. Maertins Revocable Trust UID 3-14-05 By: Address: Q • 13p 3/1 /I�VILII Tay r, er 12320 NE E' St.,Suite 100 Bellevue,W 98005 Page 2 of 6 WAWPD0051240231004VIR2477.noC Memorandum of Agreement 6l151M 20050621002061.003 STATE OF WAS14INGTON } } ss. COUNTY OF KING } THIS IS TO CERTIFY that on the t5�01 day of_ ;j+lN 2005, before me, a Notary Public in and for the State of Washington, duly conunissioned and sworn, came Llora S. Maertins, Trustee of Lora S. Maertins Revocable Trust UID 3-14-05, personally known or having presented satisfactory evidence to be the individual described in and who executed the within instrument, and acknowledged that she signed the same as her free and voluntary act and deed for the uses and purposes therein mentioned. WITNES_SZii"Fl and official seal the day and year in this certificate first above written. C G. SC I „si"" �� Print Name: a- r wor Notary Public in and for the Sta e of Washington, Residing at �32 Expiration Date Q�� r 1YAS1 ` STATE OF WASHINGTON ) } SS. COUNTY OF KING } THIS IS TO CERTIFY that on this day of 2005,before me,a Notary Public in and for the State of Washington,duly commissioned and sworn,came Kolin Taylor,personally known or having presented satisfactory evidence to be the President of KBS Development Corporation, the corporation that executed the foregoing instrument,and acknowledged the said instrument to be the free and voluntary act and deed of said corporation for the uses and purposes therein mentioned,and on oath stated that he is authorized to execute the said instrument on behalf of said corporation. WITNESS MY HAND and official seal the day and year in this certificate first above written. ��� Print Name: 32, f A._.�''Sigw"� aS''�A' Notary Public in and for the nt %, State of Washington,residing at �r r Expiration Date: D � r �t PP a�t Page 3 of 6 w:�wen0cS%2402i%DW1R24V.1)0C Memorandum of Agreement 6/15/2005 20060621002061.004 a EXHIBIT A LEGAL DESCRIPTION OF M.AERTINS PROPERTY The North 677.44 feet of the West fZ of the West % of the SE % of the SE f of Section 3,T 23 N.,R 5 E.,W.M„in King County,Washington; EXCEPT the West 130 feet of portion lying South of a line 339.5 feet South of the North line;EXCEPT that portion of said North 677.44 feet lying South of the following described line, Beginning at the intersection of the South line of the North 677.44 feet with the East line of the West '/z of the West '/2 of the Southeast % of the Southeast % of said Section 3;THENCE N 87-49-08 W along said South line a distance of 89.01 feet to the beginning of said line; THENCE N 67-07-57 W a distance of 119.88 feet to intersection of the East line of the West 130 feet of the Southeast '/n of the Southeast '/ of said Section 3, said intersection being terminus of line; EXCEPT portion, if any, conveyed to James L. Dixon, et ux, by deeds recorded under Auditor File No. 6468344 and 7207120398; EXCEPT coal and mineral rights; TOGETHER WITH easement for ingress, egress and utilities by instrument recorded under Recording No. 7609140487; SUBJECT TO easements,reservations,restrictions and rights of record,if any. Page 4 of 6 w:twpooc 4025 ooavlxsa77.aoc Memorandum of Agreement 61192DO5 20050621002061.005 EXHIBIT H LEGAL DESCRIPTION OF I BS PROPERTY Lot X, Lot Y and Lot Z of King County Lot Line Adjustment No. LL0089, as fled under Recording No. 20020702900007, records of King County,Washington. AND Lot 1, Ding County Short Plat Number 486017, recorded under Recording Number 8703039001, and amended by Affidavit of Correction recorded under Recording Number 8706260950, in ling County,Washington,being a portion of the South half of the South half of the South half of the Northeast quarter of the Southeast quarter of Section 3, Township 23 North, Range 5 East, Willamette Meridian, in King County,Washington; TOGETHER WITH the following described property in accordance with Decree Quieting Title in King County Superior Court Cause Number 86- 2-22118-2 entered on March 23, 1987: The South 330 feet of the Northeast quarter of the Southeast quarter of Section 3, Township 23 North, Range 5 East, Willamette Meridian, in King County,Washington; EXCEPT the West 840.50 feet thereof;and EXCEPT the North 165 feet thereof; and EXCEPT that portion of lying within the South half of the South half of the South half of said subdivision;and EXCEPT County roads, AND A portion of the Northeast quarter of the Southeast quarter of Section 3 Township 23 N,Range 5 East,W.M.in King County,Washington; BEGINNING at the Southeast corner of said Section 3; Thence Northerly 65.00 feet along the East line of said Section 3; Thence North 87049'08"West 670.20 feet; Thence South 01°25'02" West 65,00 feet to the South line of the Northeast quarter of the Southeast quarter of said Section 3; Thence Easterly along said South line 670.20 feet to the Point of Beginning; Situate in King County,Washington. Page 5 of 6 w:twrn0csU4o25woame2477.o0c Memorandum of Agreement b115f200s 20050621002061.006 AND Lot 3 of King County Short Plat Number 486017, recorded under Recording Number 8703039001, and corrected by Affidavit recorded under Recording Number 8706260950, together with the West 428.00 feet of the South 330 feet of the Northeast quarter of the Southeast quarter of Section 3, Township 23 North., flange 5 East, Willamette Meridian,in King County,Washington; EXCEPT the North 165 feet thereof; EXCEPT that portion lying within the South half of the South half of the South half of said subdivision and EXCEPT County roads; IN ACCORDANCE with Decree Quieting Title in King County Court Cause Number 86-2-22118-2 entered on March 23, 1987: EXCEPT the East 164 feet of said Lot 3; (BEING KNOWN AS Lot 3 of King County Lot Line Adjustment No. S92L0103, recorded under Recording Number 9209101022, and other property.) Page 6 of 6 W:%WPD0C51240251004VTR2477.D0C 6m/20o5 Memorandum of Ageement 20060808001642.001 After recording Mum to: Curtis G.Schuster KBS Development Corporation - - — - - 12320 NE 8 Street,Ste 4100 Bellevue,WA 98005 20060808001642 GLOS$ER LAW OF EAS 39.00 W081200a 13$ss ICING COUNTY, IAA DOCUMENT TITLE Easement Agreement REFERENCE NUMBER(S) None GRANTOR(S) Llora S.Maertins,as Trustee of Llora S.Maertins Revocable Trust UID 3-14-05 GRANTEES) KBS Development Corporation LEGAL DESCRIPTION: Portion of the SE'/a of See.3,Twp.23 N.,Range 5 E.,W.M., in King County,Washington. ASSESSOR'S PROPERTY TAX PARCEL/ACCOUNT NUMBER: 032305-9021 EASEMENT AGREEMENT THIS EASEMENT AGREEMENT is made on this f 5 day of 2005 by Llom S.Maertins,as Trustee of Llora S.Maertins Revocable Trust UID 3-14-05 ("Maertins"),and KBS Development Corporation and/or its successors or assigns("KBS"). RECITALS A. KBS owns certain real property,all of which property is referred to herein as the"KBS Property,"and is IegalIy described on Attachment"A". B. Maertins owns certain real property,all of which property is referred to herein as the "Maertins Property,"and is legally described on Attachment"B". C. KBS desires a slope and construction easement,on,over and under a portion of the Maertins Property legally described on attached Attachment"C." KBS intends to use the easement in KBS'development of the Plat of Windstone W,City of Renton File No.LUA-04-135,SHPL-H("Windstone IV"),located on a portion of the KBS Property. NOW,THERFORE,in consideration of the mutual covenants and agreements herein contained, Maertins and KBS hereby agree as follows: ' i,fat NOT r'E1 U ►:� ttlr�Ga.Fl -`c#aiier�i WAWPD0M2 4 02 510 0 41PER2226.DOC 1 ,Ns 20060808001642.002 r ` 1. Declaration of Slope and Construction Easement. Maertins hereby grants and conveys to KBS non-exclusive easements for slope and construction(the"SIope and Construction Easement")over that portion of the Maertins Property described in Attachment"C"and depicted in Attachment"D"(the"Slope and Construction Easement Area"). Maertins shall continue to own and will be entitled to use the Easement area to the extent permitted by the Denton City Code and other applicable law, The Maertins Property shall be the burdened property and the KBS Property shall be the benefited property. 2. Restoration. KBS,at KBS'expense,will relocate any fencing disturbed during construction to the Slope and Construction Easement Area,and shall install a barrier arm gate in the new fence at a location determined by Maertins. Any timber from trees felled as a result of KBS'use of the Easement shall belong to Maertins and shall be stacked by KBS on the Maertins Property adjacent to the Slope and Construction Easement Area in a location determined by Maertins. 3. Sanitary Sewer Stubs. At such time as KBS constructs a sanitary sewer system within the KBS Property,K13S shall,at KBS's sole cost and expense,install up to two(2)sanitary sewer stubs up to ten feet(101)onto the Maertins Property for Maertins to hook into said sanitary sewer system, The location of the stubs shall be determined by KBS, Maertins shall pay any hookup fees to the applicable municipality,but shall not be liable to KBS for any latecomer charges. 4. Termination of Easement. The Construction Easement shall automatically terminate ninety(90)days following the recording of the final plat or final short plat of Windstone IV. The Slope Easement shall be perpetual. 5. Applicable L . This Agreement shall be construed in accordance with and all disputes hereunder shall be governed by the law of the State of Washington. The venue of any suit between the parties to this Agreement shall be the King County Superior Court. 6. Attomey's Fees and Costs. In the event a party takes action to enforce any of the terms of this Easement,the prevailing party shall be awarded its costs,litigation expenses,and reasonable attorney's fees,whether incurred before or at trial,on appeal,in bankruptcy or in enforcement of a judgment. 7. Appurtenant and Runs with the Land,Counterpart. The Easements created herein shall be appurtenant to and shall run with the land. It shall be binding upon the burdened property owner and the benefited property owner and their successors,heirs and assigns. This Agreement may be signed in any number of counterparts,which together shall constitute a single document. MAERTINS KBS DEVELOPMENT CORPORATION, a Washington Corporation . C�►t.a, fjt.c.c.dy r� J Llora S.Maertins,as Trustee of Llora S. o m B.T for tdent Maertins Revocable Trust UID 3-14-05 W:%WPD0C5V4025W4V1R222b_D0C 2 20060808001642.003 STATE OF WASHINGTON } } SS COUNTY OF KING ) I certify that I know or have satisfactory evidence that Llora S.Maertins,'Trustee of Llora S.Maertins Revocable Trust UID 3-14-05 is the person who appeared before me,acknowledged that she signed this instrument,and acknowledged it to be her free and voluntary act for the uses and purposes mentioned in this instrument.. �ti�11\\115 SC `+ l� �I DATED ul�� f�S{ 2005 ff bra, e:5t - C tlr�S G , .5c�e,- (Printed Name) r 5ti Y1\4 = +� 4 ,tiF Notary Public +++ti �.�,� My Appointment Expires STATE OF WASHINGTON ) } SS COUNTY OF KING ) I certify that I know or have satisfactory evidence that Kolin Taylor is the person who appeared before me,and said person acknowledged that he was authorized to execute the instrument,and acknowledged it as the President of KBS Development Corporation,a Washington Corporation,to be the free voluntary act of such party for the uses and purposes mentioned in this instrument. ^`�r�11A t15 5 T DATED t1l 2005 A\11ti5511 G f 7' + �► F IWS*'(Fruited Name) ?,r Notary Public �y o~0 - M Appointment Expires a ' Dp VI►A51�� Y FF F t5 W:1NVPD0CS124025VW\J1R2226.DOC 3 20060808001642.004 ATTACHMENT "A" LEGAL DESCRIPTION OF K.SS PROPERTY Lot X,Lot Y and Lot Z of King County Lot Line Adjustment No.LL0089,as filed under Recording No.20020702900007, records of King County,Washington. AND Lot 1,King County Short Plat Number 486017,recorded under Recording Number 8703039001,and amended by Affidavit of Correction recorded under Recording Number 8706260950,in King County,Washington,being a portion of the South half of the South half of the South half of the Northeast quarter of the Southeast quarter of Section 3,Township 23 North,Range 5 East,Willamette Meridian,in King County,Washington; TOGETHER WITH the following described property in accordance with Decree Quieting Title in King County Superior Court Cause Number 86-2-22119-2 entered on March 23, 1987: The South 330 feet of the Northeast quarter of the Southeast quarter of Section 3,Township 23 North,Range 5 East, Willamette Meridian,in King County,Washington; EXCEPT the West 840.50 feet thereof;and EXCEPT the North 165 feet thereof;and EXCEPT that portion of lying within the South half of the South half of the South half of said subdivision; and EXCEPT County roads. AND BEGINNING at the Southeast corner of the Northeast quarter of the Southeast quarter of Section 3,Township 23N,Range 5 East, W.M.in King County,Washington; Thence Northerly 65.00 feet along the East line of said Section 3; Thence North 87149'08"West 670.20 feet; Thence South 01°25'02"West 65.00 feet to the South line of the Northeast quarter of the Southeast quarter of said Section 3; Thence.Easterly along said South line 670.20 feet to the Point of Beginning; Situate in King County,Washington. AND Lot 3 of King County Short Plat Number 486017,recorded under Recording Number 8703039001,and corrected by W AW PD0CSU40251004VM226.DOC 4 20060808001642.005 Affidavit recorded under Recording Number 8706260950, together with the West 428.00 feet of the South 330 feet of the Northeast quarter of the Southeast quarter of Section 3, Township 23 North,Range 5 East,Willamette Meridian,in King County,Washington; EXCEPT the North 165 feet thereof; EXCEPT that portion lying within the South half of the South half of the South half of said subdivision and EXCEPT County roads; IN ACCORDANCE with Decree Quieting Title in King County Court Cause Number 86-2-22 1 1 8-2 entered on March 23, 1987: EXCEPT the East 164 feet of said Lot 3; (BEING KNOWN AS Lot 3 of King County Lot Line Adjustment No.S92LO103,,recorded under Recording Number 9209101022,and other property.) WAWPDOCT244251464\1IR2226.DOC 5 20060808001642.006 ATTACHMENT"B" LEGAL DESCRIPTION OF MAERTINS PROPERTY The North 677.44 feet of the West%z of the West'h of the SE V. of the SE'/of Section 3,T 23 N.,R 5 E.,W.M.,in King County,Washington;EXCEPT the West 130 feet of portion lying South of a lime 339.5 feet South of the North line; EXCEPT that portion of said North 677.44 feet lying South of the following described line: Beginning at the intersection of the South line of the North 677.44 feet with the East line of the West '/x of the West''/s of the Southeast''/a of the Southeast %of said Section 3;THENCE N 87-49-08 W along said South line a distance of 89.01 feet to the beginning of said line;THENCE N 67-07-57 W a distance of 119.88 feet to intersection of the East line of the West 130 feet of the Southeast %of the Southeast 1 of said Section 3,said intersection being terminus of line; EXCEPT portion,if any,conveyed to James L.Dixon,et ux,by deeds recorded under Auditor File No.6468344 and 7207120398;EXCEPT coal and mineral rights;TOGETHER WPTH easement for ingress,egress and utilities by instrument recorded under Recording No.7609140487; SUBJECT TO easements,reservations,restrictions and rights of record,if any. W AWPD0CM40255004UIR2226.DOC { 20060808001642.007 Attachment"C" 10'Slope Easement& 10'Temporary Construction Easement Across the Maertins Property 17rat portion of the:West half of the West half of the Southeast quarter of the Southeast quarter of Section 3,Township 23 North,Range 5 East of the Willmnetta Meridian in King County, Washington,more particularly described as follows: A 10 foot wide strip of land,tying 10 feet North of the following described Sine: Commencing at the Northwest corner of said subdivision; thence South 01*25 01l West,along the West line of said subdivision,a distance of 17.00 feet to the True Point of Beginning; thence South 87°4913"East,a distance of 137.47 feet to the beginning of a curve concave to the North having a radius of 137.83 feet and a central angle of 8048'17" and being subtended by a chord which bears North 87849'44"East 21.16 feet; thence Easterly along said curve,a distance of 21.18 feet; thence North 83`M5"East tangent to said curve,a distance of 25.25 feet to the beginning of a curve tangent to said line; thence Easterly a distance of 9.50 feet along the curve concave to the South, having a radius of 62.17 feet and a central angle of 8'45'10"; thence:South 871149'15"East tangent to said curve,a distance of 60.00 feet; thence North 02*IV45"East,a distance of 0.83 feet to a point 10 feet South of the North line of said subdivision; thence South 87°49'l5"East,parallel with said North fine,a distance of 77.56 feet to the East line of said subdivision and the terminus of said line, It is the intent of this description that sidelines shall extend or truncate as necessary to intersect at boundary lines and intersections. Situate in the Cowny of King,State of Washington. .Woe) BOOK 05-2 -2465? w:1wPDOCS12402"G4\JffM26.A0C 7 00 a 0 (V d 8 W O d] a d a N AMAdme17..t nDn Ifs' Slope Easement & IV Temporary onstructi�on dement Ae s the .Maertim Property The N lute of a SE 114 h"ttI ! 17.41 in ctz�nr� Cry Ta G-?cx a�, ai r• 4-M.U= .�.�. ..._ cz a�az o- . 7 not to kale k line of thEo BE 114 f"We SE FKt MW Tia a IRM of 1/2 of the N 1/2 of the SE V4 It di LA'S � 3 20060914001333.001 After recording return to: Office of the City Cleric City of Renton 1055 S. Grady Way Renton, WA 98055 200609140�� 333 CITY Oi RENTON EAS 05/ OF 007 !4/2006 �1WR� KING COUNTY DOCUMENT TITLE Access Easement REFERENCE NO.OF DOCUMENTS ASSIGNED/ RELEASED GRANTOR Llora S. Maertins, as Trustee of Llora S. Maertins Revocable Trust UID 3-14-05 GRANTEE City of Renton LEGAL DESCRIPTION Pitt of SE '/ of Sec. 3, T23N, ME,WM ASSESSOR'S PARCEL NO. 032305,9021 EXCISE Tic NOT REOLIEAEn ca. rdG F,ACCESS EASEMT JPub. Llora S. Maertins, as Trustee of Llora S. Maertins Revocable 'Trust UID 3-14-05, for and in consideration of One Dollar ($1.00) and other good and valuable consideration, receipt of which is hereby acknowledged, hereby conveys to the City of Renton, a Washington municipal corporation, its successors and assigns, a permanent easement on and over the real property described as the "Easement Area" in the attached Attachment A and depicted on Attachment B, for construction and maintenance of an access road for vehicular and pedestrian traffic for the benefit of the real property described as the "'Benefited Parcel" in the attached Attachment C. This easement is granted subject to the following terms, which Grantee agrees to perform and obey: Grantee shall defend, indemnify and hold harmless Grantor from any and all liability, loss, damages, claims, demands, suits or expenses, including reasonable attorneys fees, arising out of the acts or omissions of Grantee or its invitees, licensees, servants, agents, successors and assigns in the exercise of the rights granted herein, Provided, however, that Grantee shall not indemnify defend or hold harmless Grantor from any liability, loss, damages, claims, demands, suits or expense arising out of or resulting solely front the negligence of Grantor, its servants, agents or assigns. Page I W;xW PDOCW402nDD41TMB5096.D0C 06/15/05 20060914001333.002 The rights and obligations of the parties hereunder shall inure to the benefit of and be binding upon their respective successors and assigns. Y Dated this day of JU Olf 2005 Llora S. Maertins, as Trustee of Liora S. Maertins Revocable Trust UID 3-14-05 Accepted by the City of Renton: By: Mayor Attest: City Clerk Page 2 W:%W PDOCSVAW%0645TMWOM.DOC 06/15 05 20060914001333.003 STATE OF WASHINGTON ) ) ss. COUNTY OF KING ) THIS IS TO CERTIFY that on the day of ZqkIt 2005, before me, a Notary Public in and for the State of Washington, duly commissioned and sworn, came Llora S. Maertins, Trustee of Llora S. Maertins Revocable Trust UID 3-14-05, personally known or having presented satisfactory evidence to be the individual described in and who executed the within instrument, and acknowledged that she signed the same as her free and voluntary act and deed for the uses and purposes therein mentioned. WITNESS MY HAND and official seal the day and y in this certificate first above written. G. SQ Print Name: S' r` �+1►'',,���r� Notary Public in and for the State of_Washington, residing at Expiration Date: Q -Q STATE OF WASHINGTON ) ss. COUNTY OF KING ) THIS IS TO CERTIFY that on this day of ,2005, before me, a Notary Public in and for the State of Washington, duly comtn.issioned and sworn, came personally known or having presented satisfactory evidence to be the of City of Renton, a Washington municipal corporation, the corporation that executed the foregoing instrument, and acknowledged the said instrument to be the free and voluntary act and deed of said corporation for the uses and purposes therein mentioned, and on oath stated that he/she is authorized to execute the said instrument on behalf of said corporation. WITNESS MY HAND and official seal the day and year in this certificate first above written. Print Name: Notary Public in and for the State of Washington, residing at Expiration Date: Page 3 W AWPSJ0CSQ402510N%TMB5096.DOC 0&15105 20060914001333.004 Attachment"A" Access Easement Across the 11'laertins Property That portion of the West half of the West half of-the Southeast quarter of the Southeast quarter of Section 3,Township 23 North,Range 5 East of the Willamette Meridian in King County, Washington,more particularly described as follows; Beginning at the Northwest corner of the West half of the West half of the Southeast quarter of the Southeast quarter of said Section 3; thence South 87"49'15"Bast,along the North line of said subdivision,a distance of 243.21 thence South 02°10'45"West,a distance of 0.83 feet; thence North 871,49115"West,a distance of 50.00 feet to the begirming of a curve tangent to said line; thence Westerly a distance of 11.02 feet along the curve concave to the South,having a radius of 72.17 feet and a central angle of 8°45'10'; thence South 83°25'35"West tangent to said curve,a distance of 25.25 feet to the beginning of a trove tangent to said line; tb=Westerly a distance of 19.64 feet along the curve concave to the North,having a radius of 127.83 feet and a central angle of 8'48'17"; thence North 87°49'13"West,a distance of 137.61 feetto the West line of said subdivision; thence North 01°25'01"East,along said West line,a distance of 7.00 feet to dw True Point of Beginning. kfz�F�s WM 03-23-2465 Page 4 w.\wPDOCS\24=004\TMB5W6.DOC 06n5105 LO 0 0 ai CO ca 0 0 �t IM r 0 f7 w O 0 N Attachment ""B" Access Easement Across the Maertins Property The N line of the SE 1/4 of the SE 1/4. Sec 3, NE 16th SIT Twp 23M, Rng UE, WM_ SB7'49'15'E 243.21' t{Oi'25'0!'E C2 597'49'!5'E 7.00' 597'49'13'E 137,81' CI 25.25 E 50,00 02'14'45'E 0.89` :3 c_try ,n a O t:IIrve Toble as at PLI £ C2 E�li.02' d-8'45'!0' 9-72.17' not to scale The W line of the SE 114 f of the SE U4. Sec 3. �!V p MAS TWp 23K, Rng 5E. WM_ CO r, The E Iine of the W 1/2 = r of the W 1/2 of the SE 114 of the SE 1/4, Sec 3, o Trip 23M, Fang 5E, WM. 9 38963 <yv pWt L klld Ewues5-23-2005 3� 20060914001333.006 ATTACHMENT C LEGAL DESCRIPTION OF BENEFITED PROPERTY Lot X, Lot Y and Lot Z of King County Lot Line Adjustment No. LL0089, as filed under Recording No. 20020702900007, records of King County, Washington. AND Lot 1, King County Short Plat Number 486017, recorded under Recording Number 8703039001, and amended by Affidavit of Correction recorded under Recording Number 8706260950, in King County, Washington,being a portion of the South half of the South half of the South half of the Northeast quarter of the Southeast quarter of Section 3, Township 23 North, Range 5 East, Willamette Meridian, in King County,Washington; TOGETHER WITH the following described property in accordance with Decree Quieting Title in King County Superior Court Cause Number 86-2-22118-2 entered on March 23, 1987: The South 330 feet of the Northeast quarter of the Southeast quarter of Section 3, Township 23 North, Range 5 East, Willamette Meridian, in King County,Washington; EXCEPT the West 840.50 feet thereof; and EXCEPT the North 165 feet thereof, and EXCEPT that portion of lying within the South half of the South half of the South half of said subdivision; and EXCEPT County roads. AND A portion of the Northeast quarter of the Southeast quarter of Section 3 Township 23 N, Range 5 East, W.M. in King County, Washington; BEGINNING at the Southeast corner of said Section 3; Thence Northerly 65.00 feet along the Fast line of said Section 3; Thence North 87'49'08" West 670.20 feet; Thence South 01°25'02" West 65.00 feet to the South line of the Northeast quarter of the Southeast quarter of said Section 3; Thence Easterly along said South line 670.20 feet to the Point of Beginning; Situate in Ding County, Washington. AND Page 6 W.%W PDDC512 402 510 0 41TMB5096.DOC 06115M 20060914001333.007 Lot 3 of King County Short Plat Number 486017, recorded under Recording Number 8103039001, and corrected by Affidavit recorded under Recording Number 8706260950, together with the West 428.00 feet of the South 330 feet of the Northeast quarter of the Southeast quarter of Section 3, Township 23 North, Range 5 East, Willamette Meridian, in King County,Washington; EXCEPT the North 165 feet thereof; EXCEPT that portion lying within the South half of the South half of the South half of said subdivision and EXCEPT County roads; IN ACCORDANCE with Decree Quieting Tide in King County Court Cause Number 86-2-22 1 1 8-2 entered on March 23, 1987: EXCEPT the East 164 feet of said Lot 3; (BEING KNOWN AS Lot 3 of King County Lot Line Adjustment No. 592L0103, recorded under Recording Number 9209101022, and other property.) Page 7 W:1 W PflQ�$12402710041TMB5046.DOC 06115/05 20140306000025-001 r i r 20140306000025 LEININGER EAS 70.00 PAGE-001 OF 005 03/06/2014 08:35 KING COUNTY, WA ]WHEN RECORDED RETURN TO: LFININGER&CHRISTENSON, P.S. 8407 South 259`�Street Kent A 98031 Assessor's Parcel or Account No. 032305-9167-05 &032305-9021-01 Abbreviated Legal Description; Ptn.of WI/2,SE1/4,SE1/4, 3-23-5 Full Legal Description on Pages: One &Two EXCISE TAX NOT REQUM D EASEMENT Co.��si)eputy � H r`5 LLORA S. MAERTINS, TRUSTEE OF THE LLORA S. MAERTINS REVOCABLE LIVING TRUST UID 3-14-05,hereinafter referred to as"Grantor"and as owner of Parcel "A" set forth hereafter, grants a permanent non-exclusive perpetual casement for the lawful construction, installation, maintenance, operation, repair, replacement and use of underground water pipes and appurtenances as follows: WHEREAS, the Grantor is the owner in fee simple of the real property legally described as: THAT PORTION OF THE WEST % OF THE WEST % OF THE SOUTHEAST '/4 OF THE SOUTHEAST '/4 OF SECTION 3, TOWNSHIP 23 NORTH, RANGE 5 EAST, W.M., IN KING COUNTY, WASHINGTON, LYING NORTHERLY OF STATE ROAD NO. 2; EXCEPT THE WEST 130 FEET; EXCEPT THAT PORTION LYING EASTERLY OF THE FOLLOWING DESCRIBED LINE; BEGINNING AT THE INTERSECTION OF THE NORTH LINE OF STATE ROAD NO. 2 WITH THE EAST LINE OF SAID SUBDIVISION; THENCE IN A NORTHWESTERLY DIRECTION ON A CURVE TO THE RIGHT WITH A RADIUS OF 379.51 FEET, A DISTANCE 119.49 FEET TO THE BEGINNING OF SAID LINE; THENCE NORTH 11-30-47 EAST A DISTANCE OF 168.52 FEET, MORE OR LESS, TO INTERSECTION OF THE SOUTH LINE OF THE NORTH 677.44 FEET OF SAID SUBDIVISION, SAID POINT BEING KNOWN AS POINT "A" AND THE TERMINUS OF SAID LINE; ALSO EXCEPT THAT PORTION LYING NORTHERLY OF THE FOLLOWING DESCRIBED LINE: BEGINNING AT SAID POINT"A", THENCE NORTH 67-07-57 WEST ALONG SAID LINE A DISTANCE OF 119.88 FEET TO 20140306000025.002 1 5 INTERSECTION OF THE EAST LINE OF TIME WEST 130 FEET OF THE SOUTHEAST '/4 OF THE SOUTHEAST '/4 OF SAID SECTION 3, SAID INTERSECTION BEING TER-Ni 4rNUS OF SAID LINE; EXCEPT PORTION, IF ANY, CONVEYED TO JAMES L. DIXON, ET UDC., BY DEEDS RECORDED UNDER AUDITOR FILE NO. 6468344 AND 7207120398: SUBJECT TO EASEMENTS, RESERVATIONS, RESTRICTIONS AND RIGHTS OF RECORD,IF ANY. hereinafter referred to as Parcel"A" and WHEREAS, the Grantor desires and is willing to grant a permanent non- exclusive easement for water lines, and appurtenances now existing or hereafter constructed across a portion of Parcel "A" for the use and benefit of Parcel "B", legally described as: THE NORTH 677.44 FEET OF THE WEST '/2 OF THE WEST '/2 OF THE SOUTHEAST '/, OF THE SOUTHEAST %4 OF SECTION 3, TOWNSHIP 23 NORTH, RANGE 5 EAST, W.M. IN KING COUNTY, WASHINGTON; EXCEPT THE WEST 130 FEET OF PORTION LYING SOUTH OF A LINE 339.5 FEET SOUTH OF THE NORTH LINE; EXCEPT THAT PORTION OF SAID NORTH 677.44 FEET LYING SOUTH OF THE FOLLOWING DESCRIBED LINE: BEGINNING AT THE INTERSECTION OF THE SOUTH LINE OF THE NORTH 677.44 FEET WITH THE EAST LINE OF THE WEST 12 OF THE WEST Yz OF THE SOUTHEAST % OF THE SOUTHEAST '/4 OF SECTION 3; THENCE NORTH 87-49-08 WEST ALONG SAID SOUTH LINE A DISTANCE OF 89.01 FEET TO THE BEGINNING OF SAID LINE; THENCE NORTH 67-07-57 WEST A DISTANCE OF 119.88 FEET TO THE INTERSECTION OF THE EAST LINE OF THE WEST 130 FEET OF THE SOUTHEAST V OF THE SOUTHEAST '/4 OF SAID SECTION 3, SAID INTERSECTION BEING TERMINUS OF LINE; EXCEPT PORTION, IF ANY, CONVEYED TO JAMES L. DIXON, ET UX., BY DEEDS RECORDED UNDER AUDITOR FILE NO. 6468344 AND 7207120398, EXCEPT COAL AND MINERAL RIGHTS; TOGETHER WITH EASEMENT FOR INGRESS, EGRESS AND UTILITIES BY INSTRUMENT RECORDED UNDER RECORDING NO, 7609140487; SUBJECT TO EASEMENTS, RESERVATIONS, RESTRICTIONS AND RIGHTS OF RECORD, IF ANY. herein referred to as Parcel"B" 20140206000025.003 NOW, THEREFORE, the Grantor does by these presents, convey and grant across a portion of Parcel "A" unto Parcel "B", a permanent non-exclusive perpetual easement for the law construction, installation, inspection, maintenance, repair, replacement, locating and relocating of water lines, under, through;above and across the following described property situated in King County, Washington,and more particularly described as follows: The West 15 feet of the following described property: THAT PORTION OF THE WEST A OF THE WEST '/z OF THE SOUTHEAST %, OF THE SOUTHEAST '/4 OF SECTION 3, TOWNSHIP 23 NORTH, RANGE 5 EAST, W,M., IN KING COUNTY, WASHINGTON, LYING NORTHERLY OF STATE ROAD NO. 2; EXCEPT THE WEST 130 FEET; EXCEPT THAT PORTION LYING EASTERLY OF THE FOLLOWING DESCRIBED LINE: BEGINNING AT THE INTERSECTION OF THE NORTH LINE OF STATE ROAD NO. 2 WITH THE EAST LINE OF SAID SUBDIVISION; THENCE IN A NORTHWESTERLY DIRECTION ON A CURVE TO THE RIGHT WITH A RADIUS OF 379.51 FEET, A DISTANCE 119.49 FEET TO THE BEGINNING OF SAID LINE; THENCE NORTH 11-30-47 EAST A DISTANCE OF 168.52 FEET,MORE OR LESS,TO INTERSECTION OF THE SOUTH LINE OF THE NORTH 677.44 FEET OF SAID SUBDIVISION, SAID PONT BEING KNOWN AS PONT "A" AND THE TERMINUS OF SAID LINE; ALSO EXCEPT THAT PORTION LYING NORTHERLY OF THE FOLLOWING DESCRIBED LINE: BEGNNNG AT SAID POINT "A", THENCE NORTH 67-07-57 WEST ALONG SAID LINE A DISTANCE OF 119.88 FEET TO INTERSECTION OF THE EAST LINE OF THE WEST 130 FEET OF THE SOUTHEAST '/ OF THE SOUTHEAST %4 OF SAID SECTION 3, SAID INTERSECTION BEING TERMINUS OF SAID LINE, EXCEPT PORTION, IF ANY, CONVEYED TO JAMES L. DIXON, ET UX., BY DEEDS RECORDED UNDER AUDITOR FILE NO. 6468344 AND 7207120398: SUBJECT TO EASEMENTS, RESERVATIONS, RESTRICTIONS AND RIGHTS OF RECORD,IF ANY.. This Easement shall be a covenant running with the land and shall be binding upon the successors, heirs and assigns of the Grantor and heirs, successors and assigns of Parcel B, hereinafter referred to as Grantee,as follows: (1) The Grantee shall have the right without prior institution of any suit or proceeding at law, at such time as may be necessary, to enter upon the easement for the purpose of constructing,repairing,altering or reconstructing said water mains, or making any connections herewith, without incurring any legal obligation or liability therefore, provided: 20140306000025.004 (2) The Grantee shall be solely responsible for the construction and cost of the initial improvements within the easement area and any subsequent maintenance thereto. (3) The Grantee shall keep the easement property free and clear of all liens and shall indemnify and defend Grantors from all claims, liabilities, damages or losses of any kind that arise as a result of Grantee's or Grantee's invitees' use of the easement area; Provided, that in the event of the concurrent negligence of Grantor and Grantee, Grantee shall only be liable to the extent of Grantee's negligence. (4) The Grantee will restore Grantor's property to a condition as good as or better than the premises were prior to entry by the Grantee. (5) The Grantee will construct the improvements in a workmanlike manner and in compliance with the applicable statutes, ordinances, rules and regulations of all governing public authorities as those statutes, ordinances, rules and regulations are amended from time to time (6) Each individual signing on behalf of a party to this Agreement states that he or she is the duly authorized representative of the signing party and his or her signature on this Agreement has been duly authorized by, and creates the binding and enforceable obligation of the party on whose behalf the representative is signing. (7) In the event of any dispute between the parties regarding the enforcement or effect of this Agreement, the non-prevailing party in any such dispute shall pay the prevailing party's reasonable attomey's fees and costs incurred. 7�� IN WITNESS WHEREOF, [ have hereunto set my hand this day of AZ e'er, . 2014. GRAN " Llora S. Maertins, Trustee of the Llora S. Maertins Revocable Living Trust UID 3-14-05 STATE OF WASHINGTON) )ss. COUNTY OF KING ) On this day personally appeared before me, Llora S. Maertins, Trustee of the Llora S. Maertins Revocable Living Trust UID 3-14-05 to me known to be the individual described in and who acknowledged to me that she executed the within and foregoing 20140306000025.005 instrument as her free and voluntary act and deed, for the uses and purposes therein mentioned. VEN of der my hand and official seal this day of 2014. .�*``•���3�tit��•I '-#Wington=`�a ,I,Hsjj �A residin e of 4 g at 1 •60+iy`0 /1� My Commission Expires:���� p=a s � r •� °^ sir 201511308001478.001 l �80�i4?S25I000EAS401PRE10 O4 KINGBCOUNTf, WA RETt1RN ADDRESS_ Puget Sound Energy,Inc. Attn:ROW Department(AEM) EXCISE TAX NOT REQUIRED PO Box 970341 EST-06W Bellevue,WA 96009-9734 Xng Co.ReOords s Dept;f PUGET SOUND ENERGY EASEMENT ORIGINAL REFERENCE#. GRANTOR(Owner); ALBACORE ACH,LLC GRANTEE(PSE): PUGET SOUND ENERGY,INC. SHORT LEGAL; Portion of SE 114 Sec,03,Twp.23 N.,Rng.05 E.,W.M.,K.C. ASSESSOR'S PROPERTY TAX PARCEL: 032305-9021 For and in consideration of good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, ALBACORE ACH, LLC, a Washington limited liabi€ity Company ("Owner" herein), hereby grants and conveys to PUGET SOUND ENERGY, INC., a Washington corporation ("PSE" herein), for the purposes described below, a nonexclusive perpetual easement over,under,along across and through the following described real property(the'Property"herein)in King County,Washington: SEE EXHIBIT"A"ATTACHED HERETO AND BY THIS REFERENCE MADE A PART HEREOF. Except as may be otherwise set forth herein PSE's rights shall be exercised upon that portion of the Property ("Easement Area"herein)described as follows: EASEMENT No.1: ALL STREETS AND ROAD RIGHTS-OF-WAY(BOTH PRIVATE AND PUBLIC)AS NOW OR HEREAFTER DESIGNED,PLATTED,AND/OR CONSTRUCTED wr HIN THE ABOVE DESCRIBED PROPERTY. (WHEN SAID STREETS AND ROADS ARE DEDICATED TO THE PUBLIC,THIS CLAUSE SHALL BECOME NULL AND VOID.) EASFMENT No.2: A STRIP OF LAND 10 FEET 1N WIDTH ACROSS ALL LOTS,TRACTS AND OPEN SPACES LOCATED WITHIN THE ABOVE DESCRIBED PROPERTY BEING PARALLEL TO AND COINCIDENT WITH THE BOUNDARIES OF SAID PRIVATE AND PUBLIC STREETS AND ROAD RIGHTS-OF-WAY. 1. Purpose. PSE shall have the right to use the Easement Area to construct, operate, maintain, repair, replace, improve,remove,upgrade and extend one or more utility systems for purposes of transmission,distribution and sale of gas and electricity. Such systems may include,but are not limited to: Underground facilities. Conduits, lines, Cables, vauils, switches and transformers for electricity; pipes, pipelines, mains, laterals, conduits, regulators, gauges and rectifiers for gas; fiber optic cable and other lines, cables and faciRies for communications; semi-buried or ground-mounted facilities and pads, manholes, meters, fixtures, attachments and any and all other facilities or appurtenances necessary or convenient to any or all of the foregoing. 1 O'Plat Easement 21313 WON 1050779681107050149 1 RW-0924521 Maeilins Page 1 014 20151008001472W02 Following the initial construction of all or a portion of its systems, PSE may, from time to time, construct such additional facilities as it may require for such systems. PSE shall have the right of access to the Easement Area over and across the Property to enable PSE to exercise its rights granted in this easement. 2. Easement Area Clearing and Maintenance. PSE shall have the right, but not the obligation to cut, remove and dispose of any and all brush,trees or other vegetation in the Easement Area. PSE shall also have the right, but not the obligation, to control, on a continuing basis and by any prudent and reasonable means, the establishment and growth of brush,trees or other vegetation in the Easement Area. 3. Trees Otitside Easement Area. PSE shall have the right to cut,trim remove and dispose of any trees located on the Property outside the Easement Area that could, in PSE's sole judgment, interfere with or create a hazard to PSE's systems. PSE shall, except in the event of an emergency, prior to the exercise of such right, identify such trees and make a reasonable effort to give Owner prior notice that such trees will be cut, trimmed, removed or disposed. Owner shall be entitled to compensation for the actual market value of merchantable timber(if any)cut and removed from the Property by PSE. 4. Restoration. Fallowing initial installation, repair or exlension of its facilities, PSE shall, to the extent reasonably practicable,restore landscaping and surfaces and portions of the Property affected by PSE's work to the condition existing immediately prior to such work,unless said work was done at the request of Owner, in which case Owner shall be responsible for such restoration. All restoration which is the responsibility of PSE shall be performed as soon as reasonably possible after the completion of PSE's work and shall be coordinated with Owner so as to cause the minimum amount of disruption to Owner's use of the Property. 5. owners Use of Easement Area. Owner reserves the right to use the Easement Area for any purpose not inconsistent with the rights herein granted, provided, however, Owner shall not excavate within or otherwise change the grade of the Easement Area or construct or maintain any buildings or structures on the Easement Area and Owner shall do no blasting within 300 feet of PSE's facilities without PSE's prior written consent. 6. Indemnity. PSE agrees to indemnify Owner from and against liability incurred by Owner as a result of the negligence of PSE or its contractors in the exercise of the rights herein granted to PSE, but nothing herein shall require PSE to indemnify Owner for that portion of any such liability attributable to the negligence of Owner or the negligence of others. 7. Termination. The rights herein granted shall continue until such time as PSE terminates such right by written instrument_ If terminated, any improvements remaining in the Easement Area shall become the property of Owner. No termination shall be deemed to have occurred by PSE's failure to install its systems on the Easement Area. 8. Successors and Assigns. PSE shall have the right to assign,apportion or otherwise transfer any or all of its rights, benefits, privileges and interests arising in and under this easement. Without limiting the generality of the foregoing,the rights and obligations of the parties shall be binding upon their respective successors and assigns. 10'Plat Easement 2013 WO#105077968 1107050149 1 RW-0924521 Maertins Page 2 of 4 20151008001473.003 DATED this day of OWNER: ALBACO ACK,LLC.,a Washington limited liability company By: Its: STATE OF WASHINGTON } } SS COUNTY OF�_ } On this 2— Pday of P errlbe �.20!_,before me,the undersigned, a Notary Public in and ,far the State of Washington, duly commissioned and sworn, personally appeared CY11G1rti zG 1 ('z 12c1S �t to me known to be the persons)who signed as \BnS)a& �-->G of ALBACORE ACH, LLC,the Washington limited liability company that executed the within and foregoing instrument, and acknowledged said instrument to be his free and voluntary acl and deed and the free and voluntary act and deed of said limited liability company for the uses and purposes therein mentioned,and on oath stated that he was authorized to execute the said instrument on behalf of said limited liability company- IN WITNESS WHEREOF I have hereunto set my hand and official seal the day and year first above written. �\\\11ttYElt ����AA�� �� o,� �'$•�yr (Signature of tary) (Print or stamp name of(Votary) y 08 8 o"= NOTARY PUBLIC in and for the State of Washington,residing 11i�111iIk%% My Appointment Expires: Ai 1 Ito Nowt'aaal,tag and W mtatiom mst be insid4 V mafglns 10'Plat Easement 2013 WOs 1o50-7968/1070N149!RW-0924521Maertins Page 3 of 4 20151008001478.004 EXHIBIT"A„ THE NORTH 677,44 FEET OF THE WEST HALF OF THE WEST HALF OF THE SOUTHEAST QUARTER OF THE SOUTHEAST QUARTER OF SECTION 3,TOWNSHIP 23 NORTH,RANGE 5 EAST,W.M.,IN KING COUNTY,WASHINGTON', EXCEPT THE WEST 130 FEET OF THAT PORTION LYING SOUTH OF A LINE 339.5 FEET SOUTH OF THE NORTH LINE; EXCEPT THAT PORTION OF SAID NORTH 677.44 FEET LYING SOUTH OF THE FOLLOWING DESCRIBED LINE; BEGINNING AT THE INTERSECTION OF THE SOUTH LINE OF THE NORTH 677.44 FEET WITH THE EAST LINE OF THE WEST HALF OF THE WEST HALF OF THE SOUTHEAST QUARTER OF THE SOUTHEAST QUARTER OF SAID SECTION 3; THENCE NORTH 87049'08" WEST ALONG SAID SOUTH LINE A DISTANCE OF 89.01 FEET TO THE BEGINNING OF,SAID LINE, THENCE NORTH 67007'57" WEST A DISTANCE OF 119.88 FEET TO INTERSECTION OF THE FAST LINE OF THE WEST 130 FEET OF THE SOUTHEAST QUARTER OF THE SOUTHEAST QUARTER OF SAID SECTION 3, SAID INTERSECTION BEING TERMINUS OF LINE; EXCEPTION PORTIONS, IF ANY, CONVEYED TO.LAMES L, DIXON, ET UX, BY DEEDS RECORDED UNDER RECORDERS NUMBERS 6468344 AND 7207120398. 10'Plat Easement 2013 WO#105077968 1 1 070501 49 1 RW-092452I Maertins Page 4 of 4 20151029001392.001 20" 12 PUGET soUND EN EAS 75.00 PRGE-001 OF 084 RETURN ADDRESS. I101291G0�UN7Yts 45 Puget Sound Energy,Inc. Attention: RIMY Department RAEM) PO Box 970341 EST-06W Bellevue,WA 98009-9734 PUGET SOUND ENERGY ORIGINAL AMENDMENT OF EASEMENT AND CONFIRMATION AGREEMENT This Amendment of Easement and CoQirmation Agreement(A reement"herein) is made and entered into this��day of Dt�Q[� 20�s by and between ALBACORE ACH, LLC, a Washington limited liability company ("Grantoe'), and Puget Sound Energy, Inc„ a Washington corporation("PSE"). PSE is the holder of certain perpetual easement rights pursuant to that certain easement (the "Easement")from ALBACORE ACH,LLC, dated September, 29, 2015 and recorded under Auditor Fiie Number 20161008001478, in the Real Property Records of King County,Washington. The Grantor herein is the present owner of the real property described in Exhibit"A" attached hereto and by this refenence made a part hereof which is a portion of the property encumbered by said easement. The Grantor herein and PSE wish to clarify certain matters regarding the above mentioned easement. NOW,THEREFORE,for and in consideration of good and valuable consideration in hand paid,the parties hereto confirm and agree as follows: Section 1. The Easement,as granted in September 2015,as hereinafter amended,remains in full force and effect. Section 2. The legal description of the Easement Area lying within the property described in said Exhibit"A"is hereby amended to include the following described Easement Area: EASEMENT NO.3: AN EASEMENT AREA TEN(10)FEET IN WIDTH HAYING FIVE(5)FEET OF SUCH WIDTH ON EACH SIDE OF A CENTERLINE DESCRIBED AS FOLLOWS:THE CENTERLINE OF GRANTEE'S FACILITIES AS NOW CONSTRUCTED,TO BE CONSTRUCTED,EXTENDED OR RELOCATED LYING WITHIN THE SOUTH 155 FEET OF THE ABOVE DESCRIBED PROPERTY. Section 3, This Agreement shall be binding upon and inure to the benefit of Successors and Assignees of both parties. IN WITNESS WHEREOF,the parties have executed and delivered this Agreement as of the day and year first set forth above. EXCISE TIC(NOT REQUIRED Kk8 Co.Aaoo Amendment of Easement "oYUt WO#1=779881$070501491 RW-0924$2 I MaerIns Page t of 4 20151029001392.002 i GRANTOR: ALBACORE ACH,LLC,a Washington limited liability company BY: Mi el fain ITS: Managing Member PUGET SOUND EN;Ira Y a Washington corporation By McDaniel,Sup Gsor Real Estate All signatures to be acknowledged STATE OF WASHINGTON ) COUNTY OF KN )SS On this QQ day of 20_a_, before me, the undersigned, a Notary Public in and for the State of Washington, duly commissioned and swum, personally appeared Michael Gladstein to me known to be the person who signed as managing member, of ALBACORE ACK LLC,the Washington limited liability company that executed the within and foregoing instrument,and acknowledged said instrument to be his free and voluntary act and deed and the free and voluntary act and [feed of said company for the uses and purposes therein mentioned; and on oath stated chat he was authorized to execute the said instrument on behalf of said limited liability company. IN WITNESS WHEREOF I have hereunto set my hand and official seal the day and year first above written. `�\��y1111111j (Signature of N fary)[ s (Print or stamp name of Notary) ��.^ �a= V. 14,y NOTARY PUBLIC in and for the State of � y �8'1 C? Washington,residing at a Ltj+0s 1}OjP �\ My Appointment Expires: Ncary so*',Ib sr-d i1 1tbo igiop 1'—gins Amendment of Easement WO#1050779681107050149/RW-092452!Maertins Page 2 of 4 20151029001392,003 i STATE OF WASHINGTON) )ss COUNTY OF KING On this " day of �� 20 !I:, before me, the undersigned, a Notary Public in and for the State of Washington,duly commissioned and swom,personally appeared Ira McDaniel,to me known to be the person who signed as Supervisor Real Estate of Puget Sound Energy, Inc.,the corporation that executed the within and foregoing instrument,and acknowledged said instrument to be his free and voluntary act and deed and the free and voluntary act and deed of said corporation for the uses and purposes therein mentioned;and on oath stated that he was authorized to execute the said instruction on behalf of said corporation. IN WITNESS WHEREOF I have hereunto set my hand and official seal the day a year first above written. III, i�/ (Signature of otary) �ynr y eT 4�4i� (Print or stamp name of Notary) i th f NOTARY PUBLIC in and for t4 State of gh &a61cl _ Washington,residing at LG1� GJ� �j� rt3Q_190 ` My Appointment Expires: ,f/it1� tWAS C2 Amendment of Easement WO#10507706811070501491 RW-092452 I Maerfins Page 3 of 4 20151029001392.004 EXHIBIT"A" THE NORTH 677.44 FEET OF THE WEST HALF OF THE WEST HALF OF THE SOUTHEAST QUARTER OF THE SOUTHEAST QUARTER OF SECTION 3, TOWNSHIP 23 NORTH, RANGE 5 EAST, W.M., IN KING COUNTY,WASHINGTON; EXCEPT THE WEST 130 FEET OF THAT PORTION LYING SOUTH OF A LINE 339.5 FEET SOUTH OF THE NORTH LINE; EXCEPT THAT PORTION OF SAID NORTH 677.44 FEET LYING SOUTH OF THE FOLLOWING DESCRIBED LINE; BEGINNING AT THE INTERSECTION OF THE SOUT14 LINE OF THE NORTH 677.44 FEET WITH THE EAST LINE OF THE WEST HALF OF THE WEST HALF OF THE SOUTHEAST QUARTER OF THE SOUTHEAST QUARTER OF SAID SECTION 3; THENCE NORTH 87"49'48" WEST ALONG SAID SOUTH LINE A DISTANCE OF 89.01 FEET TO THE BEGINNING OF SAID LINE; THENCE NORTH 67007'37" WEST A DISTANCE OF 119.88 FEET TO INTERSECTION OF THE EAST LINE OF THE WEST 130 FEET OF THE SOUTHEAST QUARTER OF THE SOUTHEAST QUARTER OF SAID SECTION 3,SAID INTERSECTION BEING TERMINUS OF LINE; EXCEPTION PORTIONS, IF ANY, CONVEYED TO JAMES L. DIXON, ET UX, BY DEEDS RECORDED UNDER RECORDERS NUMBERS 6468344 AND 7207120398. Amendment of Easement Wq#105077968 1107050149 1 RW-0924521 Maettins Page 4 of 4