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Form No. 1402.06
ALTA Owner’s Policy (6-17-06)
1100302P050600
Policy Page 1
Policy Number: NCS 940196
OWNER’S POLICY OF TITLE INSURANCE
ISSUED BY
First American Title Insurance Company
Any notice of claim and any other notice or statement in writing required to be given to the Company under this policy must be
given to the Company at the address shown in Section 18 of the Conditions.
COVERED RISKS
SUBJECT TO THE EXCLUSIONS FROM COVERAGE, THE EXCEPTIONS
FROM COVERAGE CONTAINED IN SCHEDULE B AND THE
CONDITIONS, FIRST AMERICAN TITLE INSURANCE COMPANY, a
Nebraska corporation (the “Company”) insures, as of Date of Policy
and, to the extent stated in Covered Risks 9 and 10, after Date of
Policy, against loss or damage, not exceeding the Amount of
Insurance, sustained or incurred by the Insured by reason of:
1. Title being vested other than as stated in Schedule A.
2. Any defect in or lien or encumbrance on the Title. This Covered
Risk includes but is not limited to insurance against loss from
(a) A defect in the Title caused by
(i) forgery, fraud, undue influence, duress, incompetency,
incapacity, or impersonation;
(ii) failure of any person or Entity to have authorized a
transfer or conveyance;
(iii) a document affecting Title not properly created,
executed, witnessed, sealed, acknowledged, notarized, or
delivered;
(iv) failure to perform those acts necessary to create a
document by electronic means authorized by law;
(v) a document executed under a falsified, expired, or
otherwise invalid power of attorney;
(vi) a document not properly filed, recorded, or indexed in
the Public Records including failure to perform those acts
by electronic means authorized by law; or
(vii) a defective judicial or administrative proceeding.
(b) The lien of real estate taxes or assessments imposed on the
Title by a governmental authority due or payable, but unpaid.
(c) Any encroachment, encumbrance, violation, variation, or
adverse circumstance affecting the Title that would be
disclosed by an accurate and complete land survey of the
Land. The term ”encroachment” includes encroachments of
existing improvements located on the Land onto adjoining
land, and encroachments onto the Land of existing
improvements located on adjoining land.
3. Unmarketable Title.
4. No right of access to and from the Land.
5. The violation or enforcement of any law, ordinance, permit, or
governmental regulation (including those relating to building and
zoning) restricting, regulating, prohibiting, or relating to
(a) the occupancy, use, or enjoyment of the Land;
(b) the character, dimensions, or location of any improvement
erected on the Land;
(c) the subdivision of land; or
(d) environmental protection
if a notice, describing any part of the Land, is recorded in the
Public Records setting forth the violation or intention to
enforce, but only to the extent of the violation or enforcement
referred to in that notice.
6. An enforcement action based on the exercise of a governmental
police power not covered by Covered Risk 5 if a notice of the
enforcement action, describing any part of the Land, is recorded
in the Public Records, but only to the extent of the enforcement
referred to in that notice.
7. The exercise of the rights of eminent domain if a notice of the
exercise, describing any part of the Land, is recorded in the
Public Records.
8. Any taking by a governmental body that has occurred and is
binding on the rights of a purchaser for value without Knowledge.
9. Title being vested other than as stated in Schedule A or being
defective
(a) as a result of the avoidance in whole or in part, or from a
court order providing an alternative remedy, of a transfer of
all or any part of the title to or any interest in the Land
occurring prior to the transaction vesting Title as shown in
Schedule A because that prior transfer constituted a
fraudulent or preferential transfer under federal bankruptcy,
state insolvency, or similar creditors’ rights laws; or
(b) because the instrument of transfer vesting Title as shown in
Schedule A constitutes a preferential transfer under federal
bankruptcy, state insolvency, or similar creditors’ rights laws
by reason of the failure of its recording in the Public Records
(i) to be timely, or
(ii) to impart notice of its existence to a purchaser for value
or to a judgment or lien creditor.
10. Any defect in or lien or encumbrance on the Title or other matter
included in Covered Risks 1 through 9 that has been created or
attached or has been filed or recorded in the Public Records
subsequent to Date of Policy and prior to the recording of the
deed or other instrument of transfer in the Public Records that
vests Title as shown in Schedule A.
The Company will also pay the costs, attorneys' fees, and expenses
incurred in defense of any matter insured against by this policy, but
only to the extent provided in the Conditions.
Form No. 1402.06
ALTA Owner's Policy (6-17-06)
Policy Page 2
Policy Number: NCS 940196
First American Title Insurance Company
EXCLUSIONS FROM COVERAGE
The following matters are expressly excluded from the coverage of this policy, and
the Company will not pay loss or damage, costs, attorneys' fees, or expenses that
arise by reason of:
1. (a) Any law, ordinance, permit, or governmental regulation (including those
relating to building and zoning) restricting, regulating, prohibiting, or
relating to
(i) the occupancy, use, or enjoyment of the Land;
(ii) the character, dimensions, or location of any improvement erected on
the Land;
(iii) the subdivision of land; or
(iv) environmental protection;
or the effect of any violation of these laws, ordinances, or governmental
regulations. This Exclusion 1(a) does not modify or limit the coverage provided
under Covered Risk 5.
(b) Any governmental police power. This Exclusion 1(b) does not modify or
limit the coverage provided under Covered Risk 6.
2. Rights of eminent domain. This Exclusion does not modify or limit the
coverage provided under Covered Risk 7 or 8.
3. Defects, liens, encumbrances, adverse claims, or other matters
(a) created, suffered, assumed, or agreed to by the Insured Claimant;
(b) not Known to the Company, not recorded in the Public Records at Date of
Policy, but Known to the Insured Claimant and not disclosed in writing to
the Company by the Insured Claimant prior to the date the Insured
Claimant became an Insured under this policy;
(c) resulting in no loss or damage to the Insured Claimant;
(d) attaching or created subsequent to Date of Policy (however, this does not
modify or limit the coverage provided under Covered Risks 9 and 10); or
(e) resulting in loss or damage that would not have been sustained if the
Insured Claimant had paid value for the Title.
4. Any claim, by reason of the operation of federal bankruptcy, state insolvency,
or similar creditors’ rights laws, that the transaction vesting the Title as shown
in Schedule A, is
(a) a fraudulent conveyance or fraudulent transfer; or
(b) a preferential transfer for any reason not stated in Covered Risk 9 of this
policy.
5. Any lien on the Title for real estate taxes or assessments imposed by
governmental authority and created or attaching between Date of Policy and
the date of recording of the deed or other instrument of transfer in the Public
Records that vests Title as shown in Schedule A.
CONDITIONS
1. DEFINITION OF TERMS
The following terms when used in this policy mean:
(a) “Amount of Insurance”: The amount stated in Schedule A, as may be
increased or decreased by endorsement to this policy, increased by
Section 8(b), or decreased by Sections 10 and 11 of these Conditions.
(b) “Date of Policy”: The date designated as “Date of Policy” in Schedule A.
(c) “Entity”: A corporation, partnership, trust, limited liability company, or
other similar legal entity.
(d) “Insured": The Insured named in Schedule A.
(i) The term "Insured" also includes
(A) successors to the Title of the Insured by operation of law as
distinguished from purchase, including heirs, devisees,
survivors, personal representatives, or next of kin;
(B) successors to an Insured by dissolution, merger, consolidation,
distribution, or reorganization;
(C) successors to an Insured by its conversion to another kind of
Entity;
(D) a grantee of an Insured under a deed delivered without
payment of actual valuable consideration conveying the Title
(1) if the stock, shares, memberships, or other equity interests
of the grantee are wholly-owned by the named Insured,
(2) if the grantee wholly owns the named Insured,
(3) if the grantee is wholly-owned by an affiliated Entity of the
named Insured, provided the affiliated Entity and the
named Insured are both wholly-owned by the same person
or Entity, or
(4) if the grantee is a trustee or beneficiary of a trust created
by a written instrument established by the Insured named
in Schedule A for estate planning purposes.
(ii) With regard to (A), (B), (C), and (D) reserving, however, all rights
and defenses as to any successor that the Company would have had
against any predecessor Insured.
(e) "Insured Claimant": An Insured claiming loss or damage.
(f) "Knowledge" or "Known": Actual knowledge, not constructive knowledge
or notice that may be imputed to an Insured by reason of the Public
Records or any other records that impart constructive notice of matters
affecting the Title.
(g) "Land": The land described in Schedule A, and affixed improvements that
by law constitute real property. The term "Land” does not include any
property beyond the lines of the area described in Schedule A, nor any
right, title, interest, estate, or easement in abutting streets, roads,
avenues, alleys, lanes, ways, or waterways, but this does not modify or
limit the extent that a right of access to and from the Land is insured by
this policy.
(h) "Mortgage": Mortgage, deed of trust, trust deed, or other security
instrument, including one evidenced by electronic means authorized by
law.
(i) "Public Records": Records established under state statutes at Date of
Policy for the purpose of imparting constructive notice of matters relating
to real property to purchasers for value and without Knowledge. With
respect to Covered Risk 5(d), "Public Records" shall also include
environmental protection liens filed in the records of the clerk of the
United States District Court for the district where the Land is located.
(j) “Title”: The estate or interest described in Schedule A.
(k) "Unmarketable Title”: Title affected by an alleged or apparent matter that
would permit a prospective purchaser or lessee of the Title or lender on
the Title to be released from the obligation to purchase, lease, or lend if
there is a contractual condition requiring the delivery of marketable title.
2. CONTINUATION OF INSURANCE
The coverage of this policy shall continue in force as of Date of Policy in favor
of an Insured, but only so long as the Insured retains an estate or interest in the
Land, or holds an obligation secured by a purchase money Mortgage given by a
purchaser from the Insured, or only so long as the Insured shall have liability by
reason of warranties in any transfer or conveyance of the Title. This policy shall not
continue in force in favor of any purchaser from the Insured of either (i) an estate
or interest in the Land, or (ii) an obligation secured by a purchase money Mortgage
given to the Insured.
3. NOTICE OF CLAIM TO BE GIVEN BY INSURED CLAIMANT
The Insured shall notify the Company promptly in writing (i) in case of any
litigation as set forth in Section 5(a) of these Conditions, (ii) in case Knowledge
shall come to an Insured hereunder of any claim of title or interest that is adverse
to the Title, as insured, and that might cause loss or damage for which the
Company may be liable by virtue of this policy, or (iii) if the Title, as insured, is
rejected as Unmarketable Title. If the Company is prejudiced by the failure of the
Insured Claimant to provide prompt notice, the Company's liability to the Insured
Claimant under the policy shall be reduced to the extent of the prejudice.
4. PROOF OF LOSS
In the event the Company is unable to determine the amount of loss or
damage, the Company may, at its option, require as a condition of payment that
the Insured Claimant furnish a signed proof of loss. The proof of loss must describe
the defect, lien, encumbrance, or other matter insured against by this policy that
constitutes the basis of loss or damage and shall state, to the extent possible, the
basis of calculating the amount of the loss or damage.
5. DEFENSE AND PROSECUTION OF ACTIONS
(a) Upon written request by the Insured, and subject to the options contained
in Section 7 of these Conditions, the Company, at its own cost and without
unreasonable delay, shall provide for the defense of an Insured in
litigation in which any third party asserts a claim covered by this policy
adverse to the Insured. This obligation is limited to only those stated
causes of action alleging matters insured against by this policy. The
Company shall have the right to select counsel of its choice (subject to the
right of the Insured to object for reasonable cause) to represent the
Insured as to those stated causes of action. It shall not be liable for and
will not pay the fees of any other counsel. The Company will not pay any
fees, costs, or expenses incurred by the Insured in the defense of those
causes of action that allege matters not insured against by this policy.
(b) The Company shall have the right, in addition to the options contained in
Form No. 1402.06
ALTA Owner's Policy (6-17-06)
Policy Page 3
Policy Number: NCS 940196
First American Title Insurance Company
Section 7 of these Conditions, at its own cost, to institute and prosecute
any action or proceeding or to do any other act that in its opinion may be
necessary or desirable to establish the Title, as insured, or to prevent or
reduce loss or damage to the Insured. The Company may take any
appropriate action under the terms of this policy, whether or not it shall
be liable to the Insured. The exercise of these rights shall not be an
admission of liability or waiver of any provision of this policy. If the
Company exercises its rights under this subsection, it must do so
diligently.
(c) Whenever the Company brings an action or asserts a defense as required
or permitted by this policy, the Company may pursue the litigation to a
final determination by a court of competent jurisdiction, and it expressly
reserves the right, in its sole discretion, to appeal any adverse judgment
or order.
6. DUTY OF INSURED CLAIMANT TO COOPERATE
(a) In all cases where this policy permits or requires the Company to
prosecute or provide for the defense of any action or proc eeding and any
appeals, the Insured shall secure to the Company the right to so
prosecute or provide defense in the action or proceeding, including the
right to use, at its option, the name of the Insured for this purpose.
Whenever requested by the Company, the Insured, at the Company's
expense, shall give the Company all reasonable aid (i) in securing
evidence, obtaining witnesses, prosecuting or defending the action or
proceeding, or effecting settlement, and (ii) in any other lawful act that in
the opinion of the Company may be necessary or desirable to establish
the Title or any other matter as insured. If the Company is prejudiced by
the failure of the Insured to furnish the required cooperation, the
Company's obligations to the Insured under the policy shall terminate,
including any liability or obligation to defend, prosecute, or continue any
litigation, with regard to the matter or matters requiring such
cooperation.
(b) The Company may reasonably require the Insured Claimant to submit to
examination under oath by any authorized representative of the Company
and to produce for examination, inspection, and copying, at such
reasonable times and places as may be designated by the authorized
representative of the Company, all records, in whatever medium
maintained, including books, ledgers, checks, memoranda,
correspondence, reports, e-mails, disks, tapes, and videos whether
bearing a date before or after Date of Policy, that reasonably pertain to
the loss or damage. Further, if requested by any authorized
representative of the Company, the Insured Claimant shall grant its
permission, in writing, for any authorized representative of the Company
to examine, inspect, and copy all of these records in the custody or
control of a third party that reasonably pertain to the loss or damage. All
information designated as confidential by the Insured Claimant provided
to the Company pursuant to this Section shall not be disclosed to others
unless, in the reasonable judgment of the Company, it is necessary in the
administration of the claim. Failure of the Insured Claimant to submit for
examination under oath, produce any reasonably requested information,
or grant permission to secure reasonably necessary information from third
parties as required in this subsection, unless prohibited by law or
governmental regulation, shall terminate any liability of the Company
under this policy as to that claim.
7. OPTIONS TO PAY OR OTHERWISE SETTLE CLAIMS; TERMINATION
OF LIABILITY
In case of a claim under this policy, the Company shall have the following
additional options:
(a) To Pay or Tender Payment of the Amount of Insurance.
To pay or tender payment of the Amount of Insurance under this policy
together with any costs, attorneys' fees, and expenses incurred by the
Insured Claimant that were authorized by the Company up to the time of
payment or tender of payment and that the Company is obligated to pay.
Upon the exercise by the Company of this option, all liability and
obligations of the Company to the Insured under this policy, other than to
make the payment required in this subsection, shall terminate, including
any liability or obligation to defend, prosecute, or continue any litigation.
(b) To Pay or Otherwise Settle With Parties Other Than the Insured or With
the Insured Claimant.
(i) To pay or otherwise settle with other parties for or in the name of an
Insured Claimant any claim insured against under this policy. In
addition, the Company will pay any costs, attorneys' fees, and
expenses incurred by the Insured Claimant that were authorized by
the Company up to the time of payment and that the Company is
obligated to pay; or
(ii) To pay or otherwise settle with the Insured Claimant the loss or
damage provided for under this policy, together with any costs,
attorneys' fees, and expenses incurred by the Insured Claimant that were
authorized by the Company up to the time of payment and that the
Company is obligated to pay.
Upon the exercise by the Company of either of the options provided for in
subsections (b)(i) or (ii), the Company's obligations to the Insured under this
policy for the claimed loss or damage, other than the payments required to be
made, shall terminate, including any liability or obligation to defend, prosecute,
or continue any litigation.
8. DETERMINATION AND EXTENT OF LIABILITY
This policy is a contract of indemnity against actual monetary loss or damage
sustained or incurred by the Insured Claimant who has suffered loss or damage by
reason of matters insured against by this policy.
(a) The extent of liability of the Company for loss or damage under this policy
shall not exceed the lesser of
(i) the Amount of Insurance; or
(ii) the difference between the value of the Title as insured and the value
of the Title subject to the risk insured against by this policy.
(b) If the Company pursues its rights under Section 5 of these Conditions and
is unsuccessful in establishing the Title, as insured,
(i) the Amount of Insurance shall be increased by 10%, and
(ii) the Insured Claimant shall have the right to have the loss or damage
determined either as of the date the claim was made by the Insured
Claimant or as of the date it is settled and paid.
(c) In addition to the extent of liability under (a) and (b), the Company will
also pay those costs, attorneys' fees, and expenses incurred in accordance
with Sections 5 and 7 of these Conditions.
9. LIMITATION OF LIABILITY
(a) If the Company establishes the Title, or removes the alleged defect, lien,
or encumbrance, or cures the lack of a right of access to or from the
Land, or cures the claim of Unmarketable Title, all as insured, in a
reasonably diligent manner by any method, including litigation and the
completion of any appeals, it shall have fully performed its obligations
with respect to that matter and shall not be liable for any loss or damage
caused to the Insured.
(b) In the event of any litigation, including litigation by the Company or with
the Company's consent, the Company shall have no liability for loss or
damage until there has been a final determination by a court of
competent jurisdiction, and disposition of all appeals, adverse to the Title,
as insured.
(c) The Company shall not be liable for loss or damage to the Insured for
liability voluntarily assumed by the Insured in settling any claim or suit
without the prior written consent of the Company.
10. REDUCTION OF INSURANCE; REDUCTION OR TERMINATION OF
LIABILITY
All payments under this policy, except payments made for costs, attorneys’
fees, and expenses, shall reduce the Amount of Insurance by the amount of the
payment.
11. LIABILITY NONCUMULATIVE
The Amount of Insurance shall be reduced by any amount the Company pays
under any policy insuring a Mortgage to which exception is taken in Schedule B or
to which the Insured has agreed, assumed, or taken subject, or which is executed
by an Insured after Date of Policy and which is a charge or lien on the Title, and
the amount so paid shall be deemed a payment to the Insured under this policy.
12. PAYMENT OF LOSS
When liability and the extent of loss or damage have been definitely fixed in
accordance with these Conditions, the payment shall be made within 30 days.
13. RIGHTS OF RECOVERY UPON PAYMENT OR SETTLEMENT
(a) Whenever the Company shall have settled and paid a claim under this
policy, it shall be subrogated and entitled to the rights of the Insured
Claimant in the Title and all other rights and remedies in respect to the
claim that the Insured Claimant has against any person or property, to the
extent of the amount of any loss, costs, attorneys' fees, and expenses
paid by the Company. If requested by the Company, the Insured Claimant
shall execute documents to evidence the transfer to the Company of these
rights and remedies. The Insured Claimant shall permit the Company to
sue, compromise, or settle in the name of the Insured Claimant and to
use the name of the Insured Claimant in any transaction or litigation
involving these rights and remedies.
If a payment on account of a claim does not fully cover the loss of the
Insured Claimant, the Company shall defer the exercise of its right to
recover until after the Insured Claimant shall have recovered its loss.
Form No. 1402.06
ALTA Owner's Policy (6-17-06)
Policy Page 4
Policy Number: NCS 940196
First American Title Insurance Company
(b) The Company’s right of subrogation includes the rights of the Insured to
indemnities, guaranties, other policies of insurance, or bonds,
notwithstanding any terms or conditions contained in those instruments
that address subrogation rights.
14. ARBITRATION
Either the Company or the Insured may demand that the claim or controversy
shall be submitted to arbitration pursuant to the Title Insurance Arbitration Rules of
the American Land Title Association (“Rules”). Except as provided in the Rules,
there shall be no joinder or consolidation with claims or controversies of other
persons. Arbitrable matters may include, but are not limited to, any controversy or
claim between the Company and the Insured arising out of or relating to this
policy, any service in connection with its issuance or the breach of a policy
provision, or to any other controversy or claim arising out of the transaction giving
rise to this policy. All arbitrable matters when the Amount of Insurance is
$2,000,000 or less shall be arbitrated at the option of either the Company or the
Insured. All arbitrable matters when the Amount of Insurance is in excess of
$2,000,000 shall be arbitrated only when agreed to by both the Company and the
Insured. Arbitration pursuant to this policy and under the Rules shall be binding
upon the parties. Judgment upon the award rendered by the Arbitrator(s) may be
entered in any court of competent jurisdiction.
15. LIABILITY LIMITED TO THIS POLICY; POLICY ENTIRE CONTRACT
(a) This policy together with all endorsements, if any, attached to it by the
Company is the entire policy and contract between the Insured and the
Company. In interpreting any provision of this policy, this policy shall be
construed as a whole.
(b) Any claim of loss or damage that arises out of the status of the Title or by
any action asserting such claim shall be restricted to this policy.
(c) Any amendment of or endorsement to this policy must be in writing and
authenticated by an authorized person, or expressly incorporated by
Schedule A of this policy.
(d) Each endorsement to this policy issued at any time is made a part of this
policy and is subject to all of its terms and provisions. Except as the
endorsement expressly states, it does not (i) modify any of the terms and
provisions of the policy, (ii) modify any prior endorsement, (iii) extend the
Date of Policy, or (iv) increase the Amount of Insurance.
16. SEVERABILITY
In the event any provision of this policy, in whole or in part, is held invalid or
unenforceable under applicable law, the policy shall be deemed not to include that
provision or such part held to be invalid, but all other provisions shall remain in full
force and effect.
17. CHOICE OF LAW; FORUM
(a) Choice of Law: The Insured acknowledges the Company has underwritten
the risks covered by this policy and determined the premium charged
therefore in reliance upon the law affecting interests in real property and
applicable to the interpretation, rights, remedies, or enforcement of
policies of title insurance of the jurisdiction where the Land is located.
Therefore, the court or an arbitrator shall apply the law of the jurisdiction
where the Land is located to determine the validity of claims against the
Title that are adverse to the Insured and to interpret and enforce the
terms of this policy. In neither case shall the court or arbitrator apply its
conflicts of law principles to determine the applicable law.
(b) Choice of Forum: Any litigation or other proceeding brought by the
Insured against the Company must be filed only in a state or federal court
within the United States of America or its territories having appropriate
jurisdiction.
18. NOTICES, WHERE SENT
Any notice of claim and any other notice or statement in writing required to be
given to the Company under this policy must be given to the Company at 1 First
American Way, Santa Ana, CA 92707, Attn: Claims Department.
POLICY OF TITLE INSURANCE
Form No. 1402.06
ALTA Owner's Policy (6-17-06)
Policy Page 5
Policy Number: NCS 940196
First American Title Insurance Company
SCHEDULE A
First American Title Insurance Company
Name and Address of the issuing Title Insurance Company:
First American Title Insurance Company
30 North LaSalle Street, Suite 2700
Chicago, IL 60602
File No.: NCS-940196-CHI2 Policy No.: NCS 940196
Address Reference: 17605-17901 108th Avenue Southeast, Renton, WA 98055
Amount of Insurance: $25,340,000.00
Date of Policy: March 13, 2019 at 11:14AM
1. Name of Insured:
3503 RP RENTON NORTH BENSON, L.L.C., a Delaware limited liability company
2. The estate or interest in the Land that is insured by this policy is:
Fee Simple as to Parcel A; Easement as to Parcel B
3. Title is vested in:
3503 RP RENTON NORTH BENSON, L.L.C., a Delaware limited liability company
4. The Land referred to in this policy is described as follows:
Real property in the City of Renton, County of King, State of Washington, described as follows:
PARCEL A:
LOTS X AND Y OF KING COUNTY BOUNDARY LINE ADJUSTMENT NO. L07L0040, ACCORDING TO
THAT BOUNDARY LINE ADJUSTMENT RECORDED AUGUST 22, 2007 UNDER RECORDING NO.
20070822900006, IN KING COUNTY, WASHINGTON.
PARCEL B
A NON-EXCLUSIVE EASEMENT FOR ACCESS, PARKING AND UTILITIES AS CREATED BY THAT
DECLARATION OF COVENANTS, CONDITIONS, RESTRICTIONS AND EASEMENTS RECORDED UNDER
RECORDING NO. 20070921001927.
APN: 322305-9063-05 and 322305-9065-03
Form No. 1402.06
ALTA Owner's Policy (6-17-06)
Policy Page 6
Policy Number: NCS 940196
First American Title Insurance Company
SCHEDULE B
File No.: NCS-940196-CHI2 Policy No.: NCS 940196
EXCEPTIONS FROM COVERAGE
This Policy does not insure against loss or damage, and the Company will n ot pay costs, attorneys' fees, or
expenses that arise by reason of:
1. This item has been intentionally deleted.
2. This item has been intentionally deleted.
3. This item has been intentionally deleted.
4. This item has been intentionally deleted.
5. This item has been intentionally deleted.
6. This item has been intentionally deleted.
7. This item has been intentionally deleted.
8. This item has been intentionally deleted.
9. This item has been intentionally deleted.
10. Genearl Real Estate Taxes for Tax year 2019 and subsequent years, a lien not yet due and payable.
11. This item has been intentionally deleted.
12. This item has been intentionally deleted.
13. Facility Charges, if any, including but not limited to hook-up, or connection charges and latecomer
charges for water or sewer facilities of Cascade Sewer District as disclosed by instrument recorded
February 7, 1975 and May 5, 1981 under Recording Nos. 7502070239 and 8105050732.
Said instrument is correction of the instrument recorded August 22, 1972 under Recording No.
7208220595.
Note: Pursuant to SOOS Creek Water and Sewer District Letter dated February 8, 2019, All General
Facility Charges were paid in Full to the District in 1987. At this time, no charges are due to the
District. Updated General Facility Charges would only be collected if there is additional building
outside of the existing footprint. Any internal remodeling would not justify collecting of additional
GFC's.
14. Reservations and exceptions, including the terms and conditions thereof:
Reserving: Minerals
Reserved By: John Winston and Clara Winston, husband and wife
Recorded: October 4, 1912, March 31, 1913, August 2, 1913 and October
5, 1914
Recording Information: 829843, 858693, 880063 and 956710
Form No. 1402.06
ALTA Owner's Policy (6-17-06)
Policy Page 7
Policy Number: NCS 940196
First American Title Insurance Company
15. Reservations and exceptions, including the terms and conditions thereof:
Reserving: Minerals
Reserved By: Clyde C. Carr and Nellie E. Carr, husband and wife
Recorded: April 16, 1917
Recording Information: 1128141
16. This item has been intentionally deleted.
17. This item has been intentionally deleted.
18. Easement, including terms and provisions contained therein:
Recording Date: May 5, 1970
Recording Information: 6646976
In Favor of: Cascade Sewer District, a municipal corporation
For: Sewer with necessary appurtenances
Affects: Lot X
19. This item has been intentionally deleted.
20. This item has been intentionally deleted.
21. This item has been intentionally deleted.
22. Easement, including terms and provisions contained therein:
Recording Date: February 20, 1976
Recording Information: 7602200535
In Favor of: King County Water District No. 58, a municipal corporation
For: Water mains
Affects: Lot X
23. Easement, including terms and provisions contained therein:
Recording Date: April 28, 1983
Recording Information: 8304280629
In Favor of: Cascade Sewer District, a municipal corporation
For: Sewer mains
Affects: Lot Y
24. The terms and provisions contained in the document entitledAgreement and Covenant Relating to
Sewer District Connection Charges, executed by and between Robert Cramblet; and Cascade Sewer
District of King County, Washington, a municipal corporation, recorded June 24, 1983 as Instrument
No. 8306240613 of Official Records.
25. Easement, including terms and provisions contained therein:
Recording Date: August 1, 1983
Recording Information: 8308010728
In Favor of: King County
For: Storm drain line
Affects: Lot Y
26. Right to make necessary slopes for cuts or fills upon said premises for108th Avenue S.E. as granted
by deed recorded January 4, 1984 under Recording No. 8401040749.
27. Easement, including terms and provisions contained therein:
Form No. 1402.06
ALTA Owner's Policy (6-17-06)
Policy Page 8
Policy Number: NCS 940196
First American Title Insurance Company
Recording Date: January 4, 1984
Recording Information: 8401040750
In Favor of: King County
For: Slopes
Affects: Lot Z (Easement Parcel)
28. Easement, including terms and provisions contained therein:
Recording Date: June 8, 1987
Recording Information: 8706080901
In Favor of: Puget Sound Power & Light Company
For: Underground electric distribution system
Affects: Lot X
29. Covenants, conditions, restrictions and/or easements:
Recorded: July 24, 1987
Recording No.: 8707240443
30. Easement, including terms and provisions contained therein:
Recording Date: October 5, 1987
Recording Information: 8710050424
In Favor of: Puget Sound Power & Light Company
For: Underground electric distribution system
Affects: As described therein
31. This item has been intentionally deleted.
32. This item has been intentionally deleted.
33. Easement, including terms and provisions contained therein:
Recording Date: December 3, 1987
Recording Information: 8712031164
In Favor of: Petro Benson Associates, a Washington general partnership, its
successors and assigns
For: Ingress and egress, vehicular access
Affects: Lot X
34. Conditions, notes, easements, provisions contained and/or delineated on the face of the
Surveyrecorded December 29, 1987 under Recording No. 8712299040, in volume 59 of surveys, at
page 21, in King County, Washington.
35. Covenants, conditions, restrictions and/or easements:
Recorded: January 4, 1988
Recording No.: 8801040279
36. Covenants, conditions, restrictions and/or easements:
Recorded: January 4, 1988
Recording No.: 8801040280
37. Easement, including terms and provisions contained therein:
Recording Date: March 23, 1988
Recording Information: 8803230710
Form No. 1402.06
ALTA Owner's Policy (6-17-06)
Policy Page 9
Policy Number: NCS 940196
First American Title Insurance Company
In Favor of: Pacific Northwest Bell Telephone Company
For: Underground communication lines and above ground cabinet
Affects: Lot Y
38. Easement, including terms and provisions contained therein:
Recording Date: May 16, 1988
Recording Information: 8805160601
In Favor of: Puget Sound Power & Light Company
For: Underground electric transmission and/or distribution system
Affects: As described therein
39. Covenants, conditions, restrictions and/or easements:
Recorded: December 22, 1988
Recording No.: 8812221415
40. Easement, including terms and provisions contained therein:
Recording Information: December 22, 1988 under Recording No. 8812221416
For: Ingress, egress and utilities
Affects: Lot Y
41. Easement, including terms and provisions contained therein:
Recording Date: June 12, 1990
Recording Information: 9006121123
In Favor of: King County, a political subdivision
For: Fire fighting equipment and associated emergency vehicles to
service Benson Corner
Affects: As described therein
42. The terms and provisions contained in the document entitled "Party Wall Declaration" recorded June
12, 1990 as Recording No. 9006121125 of Official Records.
43. Easement, including terms and provisions contained therein:
Recording Date: August 26, 1991
Recording Information: 9108260654
In Favor of: Petro Benson Associates, a Washington general partnership
For: Sewer service lines
Affects: Lot X
44. Lease made by Petro Benson Associates, lessor, to Texaco Refining and Marketing Inc., lessor,
to Texaco Refining and Marketing Inc. a Delaware coporation, lessee, for a term of 15 years, and the
covenants and conditions as therein contained, as disclosed by Memorandum of Lease
dated February 20, 1992, and recorded April 16, 1992 as document no. 9204160519.
Said lease, among other things provides for an option to renew for a period of three 5-year terms.
The lessor's interest under the lease has been assigned to Petro Benson LLC, a Washington
limited liability company by assignment recorded January 22, 2003 as 20030122001042 of Official
Records.
Form No. 1402.06
ALTA Owner's Policy (6-17-06)
Policy Page 10
Policy Number: NCS 940196
First American Title Insurance Company
The terms and provisions contained in the document entitled "Assigmment and Assuption of Lease, to
Pac West Energy, LLC, a Delaware limited liability company" recorded November 3, 2014
as 20141103001545 of Official Records.
As Affected by Assignment and Assumption of Leases dated March 7, 2019 and recorded March 13,
2019 as Instrument No. 2019-0313000669.
Right Title and Interest of PacWest Energy, LLC, a Delaware limited liability company to all building
and improvements as contained in the Special Warranty Deed recorded November 3, 2014 as
Instrument No. 20141103001543.
(Affects Portion of Lot Y)
45. This item has been intentionally deleted.
46. This item has been intentionally deleted.
47. Easement, including terms and provisions contained therein:
Recording Date: November 14, 1994
Recording Information: 9411141174
In Favor of: Puget Sound Power & Light Company
For: An underground electric transmission and/or distribution system
Affects: Lot X
48. The terms, provisions and easement(s) contained in the document entitled "Water Easement
Agreement" recorded August 3, 1995 as Recording No. 9508031613 of Official Records.
49. The terms, provisions and easement(s) contained in the document entitled "Agreement for
Easement" recorded October 3, 2002 as Recording No. 20021003000635 of Official Records.
50. This item has been intentionally deleted.
51. Restrictions, conditions, dedications, notes, easements and provisions, if any, as contained and/or
delineated on the face of the King County Boundary Line Adjustment No. L07L0040 recorded under
Recording No. 20070822900006 , in King County, Washington.
52. Covenants, conditions, restrictions and/or easements:
Recorded: September 21, 2007
Recording No.: 20070921001927
53. A document entitled "Memorandum of Option Agreement and Right of First Offer", executed by and
between Trimark-North Benson, LP, a Washington limited partnership and Fred Meyer Stores, Inc.,
an Ohio corporation recorded September 21, 2007, as Instrument No. 20070921001928 of Official
Records.
Note: Fred Meyer waived its Right of First Offer for the conveyance insured under this policy by letter
dated December 27, 2018.
54. The terms and provisions contained in the document entitled "Access Agreement"
recorded November 3, 2014 as Recorders No. 20141103001544 of Official Records.
(Affects that portion of Lot Y known as Lot B, LLA 8712006, recorded under Recorders No.
8906140041)
Form No. 1402.06
ALTA Owner's Policy (6-17-06)
Policy Page 11
Policy Number: NCS 940196
First American Title Insurance Company
55. Lease made by Trimark-North Benson, LP, a Washington limited partnership , lessor, to 7-Eleven,
Inc., a Texas corporation, lessee, for a term of 10 years, and the covenants and conditions as therein
contained, as disclosed by Memorandum of Lease dated April 18, 2011, and recorded December 5,
2011 as document no. 20111205000001.
Said lease, among other things provides for an option to renew for a period of four 5-year terms.
As Affected by Assignment and Assumption of Leases dated March 7, 2019 and recorded March 13,
2019 as Instrument No. 2019-0313000669.
56. Sublease made by Wendy's International, Inc., lessor, to SeaWend Ltd dba SeaWend LLC, lessee, for
a term of 20 years, and the covenants and conditions as therein contained, as disclosed by
Memorandum of Lease dated May 28, 2013, and recorded October 28, 2013 as document
no. 20131028001607.
Said lease, among other things provides for an option to renew for a period of two 5-year terms.
The lessee's interest under the lease has been assigned to Burger Management Systems
Washington, Inc., a Tennessee corporation by assignment recorded May 12, 2017
as 20170512001341 of Official Records.
As Affected by Deed of Trust and the terms and conditions thereof.
Grantor/Trustor: SeaWend, Ltd, dba SeaWend Ltd., L.L.C., an Ohio limited liability
company
Grantee/Beneficiary: The Huntington National Bank
Trustee: Fidellity National Title Company of Washington
Amount: $32,000,000.00
Recorded: April 21, 2015
Recording Information: 20150421000487
(Affects Leasehold Estate of Tenant)
57. Lease made by Trimark-North Benson, LP, a Washington limited partnership , lessor, to Wendy's
International, Inc., lessee, for a term of 15 years, and the covenants and conditions as therein
contained, as disclosed by Memorandum of Lease dated June 3, 2013, and recorded February 14,
2014 as document no. 20140214001110.
Said lease, among other things provides for an option to renew for a period of four 5-year terms.
As Affected by Assignment and Assumption of Leases dated March 7, 2019 and recorded March 13,
2019 as Instrument No. 2019-0313000669.
58. Lease made by Trimark-North Benson, LP, a Washington limited partnership , lessor, to Sprint
Spectrum LP, a Delaware limited partnership, lessee, for a term of 10 years, and the covenants and
conditions as therein contained, as disclosed by Memorandum of Agreement dated October 8, 2014,
and recorded December 23, 2014 as document no. 20141223001270.
Said lease, among other things provides for an option to renew for a period of one 5-year term.
As Affected by Assignment and Assumption of Leases dated March 7, 2019 and recorded March 13,
2019 as Instrument No. 2019-0313000669.
59. This item has been intentionally deleted.
Form No. 1402.06
ALTA Owner's Policy (6-17-06)
Policy Page 12
Policy Number: NCS 940196
First American Title Insurance Company
60. This item has been intentionally deleted.
61. This item has been intentionally deleted.
62. This item has been intentionally deleted.
63. This item has been intentionally deleted.
64. This item has been intentionally deleted.
65. This item has been intentionally deleted.
66. This item has been intentionally deleted.
67. This item has been intentionally deleted.
68. This item has been intentionally deleted.
69. This item has been intentionally deleted.
70. This item has been intentionally deleted.
71. Rights of parties in possession not shown by the Public Records, as tenants only, as shown on the
attached Exhibit B.
72. This item has been intentionally deleted.
73. This item has been intentionally deleted.
End of Schedule B
Form No. 1402.06
ALTA Owner's Policy (6-17-06)
Policy Page 13
Policy Number: NCS 940196
First American Title Insurance Company
COVENANTS, CONDITIONS AND RESTRICTIONS -
IMPROVED LAND - OWNER'S POLICY ENDORSEMENT
(affects Parcel A Only)
Issued by
First American Title Insurance Company
Attached to Policy No.: NCS 940196
File No.: NCS-940196-CHI2
1. The insurance provided by this endorsement is subject to the exclusions in Section 4 of this
endorsement; and the Exclusions from Coverage, the Exceptions from Coverage contained in
Schedule B, and the Conditions in the policy.
2. For the purposes of this endorsement only,
a. "Covenant" means a covenant, condition, limitation or restriction in a document or instrument in
effect at Date of Policy.
b. "Improvement" means a building, structure located on the surface of the Land, road, walkway,
driveway, or curb, affixed to the Land at Date of Policy and that by law constitutes real property,
but excluding any crops, landscaping, lawn, shrubbery, or trees.
3. The Company insures against loss or damage sustained by the Insured by reason of:
a. A violation on the Land at Date of Policy of an enforceable Covenant, unless an exception in
Schedule B of the policy identifies the violation;
b. Enforced removal of an Improvement as a result of a violation, at Date of Policy, of a building
setback line shown on a plat of subdivision recorded or filed in the Public Records, unless an
exception in Schedule B of the policy identifies the violation; or
c. A notice of a violation, recorded in the Public Records at Date of Policy, of an enforceable
Covenant relating to environmental protection describing any part of the Land and referring to
that Covenant, but only to the extent of the violation of the Covenant referred to in that notice,
unless an exception in Schedule B of the policy identifies the notice of the violation.
4. This endorsement does not insure against loss or damage (and the Company will not pay costs,
attorneys' fees, or expenses) resulting from:
a. any Covenant contained in an instrument creating a lease;
b. any Covenant relating to obligations of any type to perform maintenance, repair, or remediation
on the Land; or
c. except as provided in Section 3.c, any Covenant relating to environmental protection of any kind
or nature, including hazardous or toxic matters, conditions, or substances.
This endorsement is issued as part of the policy. Except as it expressly states, it does not (i) modify any
of the terms and provisions of the policy, (ii) modify any prior endorsements, (iii) extend the Date of
Policy, or (iv) increase the Amount of Insurance. To the extent a provision of the policy or a previous
endorsement is inconsistent with an express provision of this endorsement, this endorsement controls.
Otherwise, this endorsement is subject to all of the terms and provisions of the policy and of any prior
endorsements.
Form No. 1402.06
ALTA Owner's Policy (6-17-06)
Policy Page 14
Policy Number: NCS 940196
First American Title Insurance Company
Date: March 13, 2019
Form 50-10801 (7-1-14) Page 14 of 34 ALTA 9.2-06 Covenants, Conditions and Restrictions Improved Land - Owner's Policy (Rev. 4-2-12)
Form No. 1402.06
ALTA Owner's Policy (6-17-06)
Policy Page 15
Policy Number: NCS 940196
First American Title Insurance Company
PRIVATE RIGHTS - OWNER'S POLICY
Issued by
First American Title Insurance Company
Attached to Policy No.: NCS 940196
File No.: NCS-940196-CHI2
1. The insurance provided by this endorsement is subject to the exclusions in Section 4 of this endorsement;
and the Exclusions from Coverage, the Exceptions from Coverage contained in Schedule B, and the
Conditions in the policy.
2. For the purposes of this endorsement only:
a. "Covenant" means a covenant, condition, limitation or restriction in a document or instrument recorded in
the Public Records at Date of Policy.
b. "Private Right" means (i) an option to purchase; (ii) a right of first refusal; or (iii) a right of prior approval
of a future purchaser or occupant.
3. The Company insures against loss or damage sustained by the Insured under this Owner's Policy if
enforcement of a Private Right in a Covenant affecting the Title at Date of Policy based on a transfer of Title
on or before Date of Policy causes a loss of the Insured's Title.
4. This endorsement does not insure against loss or damage (and the Company will not pay costs, attorneys'
fees, or expenses) resulting from:
a. any Covenant contained in an instrument creating a lease;
b. any Covenant relating to obligations of any type to perform maintenance, repair, or remediation on the
Land;
c. any Covenant relating to environmental protection of any kind or nature, including hazardous or toxic
matters, conditions, or substances; or
d. any Private Right in an instrument identified in Exception(s) None in Schedule B.
This endorsement is issued as part of the policy. Except as it expressly states, it does not (i) modify any of the
terms and provisions of the policy, (ii) modify any prior endorsements, (iii) extend the Date of Policy, or (iv)
increase the Amount of Insurance. To the extent a provision of the policy or a previous endorsement is
inconsistent with an express provision of this endorsement, this endorsement controls. Otherwise, this
endorsement is subject to all of the terms and provisions of the policy and of any prior endorsements.
IN WITNESS WHEREOF, the Company has caused this endorsement to be issued and become valid when
signed by an authorized officer or licensed agent of the Company.
Date:March 13, 2019
Form 50-10892 (7-1-14) Page 15 of 34 ALTA 9.9-06 Private Rights - Owner's Policy (Rev. 4-2-13)
Form No. 1402.06
ALTA Owner's Policy (6-17-06)
Policy Page 16
Policy Number: NCS 940196
First American Title Insurance Company
Form No. 1402.06
ALTA Owner's Policy (6-17-06)
Policy Page 17
Policy Number: NCS 940196
First American Title Insurance Company
MINERALS AND OTHER SUBSURFACE
SUBSTANCES - IMPROVEMENTS ENDORSEMENT
(affects Parcel A Only)
Issued by
First American Title Insurance Company
Attached to Policy No.: NCS 940196
File No.: NCS-940196-CHI2
1. The insurance provided by this endorsement is subject to the exclusion in Section 4 of this
endorsement; and the Exclusions from Coverage, the Exceptions from Coverage contained in
Schedule B, and the Conditions in the policy.
2. For purposes of this endorsement only, "Improvement" means a building, structure located on the
surface of the Land, and any paved road, walkway, parking area, driveway, or curb, affixed to the
Land at Date of Policy and that by law constitutes real property, but excluding any crops,
landscaping, lawn, shrubbery, or trees.
3. The Company insures against loss or damage sustained by the Insured by reason of the enforced
removal or alteration of any Improvement, resulting from the future exercise of any right existing at
Date of Policy to use the surface of the Land for the extraction or development of minerals or any
other subsurface substances excepted from the description of the Land or excepted in Schedule B.
4. This endorsement does not insure against loss or damage (and the Company will not pay costs,
attorneys' fees, or expenses) resulting from:
a. contamination, explosion, fire, vibration, fracturing, earthquake or subsidence;
b. negligence by a person or an Entity exercising a right to extract or develop minerals or other
subsurface substance; or
c. the exercise of the rights described in (None).
This endorsement is issued as part of the policy. Except as it expressly states, it does not (i) modify any
of the terms and provisions of the policy, (ii) modify any prior endorsements, (iii) extend the Date of
Policy, or (iv) increase the Amount of Insurance. To the extent a provision of the policy or a previous
endorsement is inconsistent with an express provision of this endorsement, this endorsement controls.
Otherwise, this endorsement is subject to all of the terms and provisions of the policy and of any prior
endorsements.
Date: March 13, 2019
Form No. 1402.06
ALTA Owner's Policy (6-17-06)
Policy Page 18
Policy Number: NCS 940196
First American Title Insurance Company
Form 50-10827 (7-1-14) Page 18 of 34 ALTA 35.1-06 Minerals and Other Subsurface Substances -
Improvements (4-2-12)
Form No. 1402.06
ALTA Owner's Policy (6-17-06)
Policy Page 19
Policy Number: NCS 940196
First American Title Insurance Company
ENCROACHMENTS - BOUNDARIES AND EASEMENTS
ENDORSEMENT
(affects Parcel A Only)
Issued by
First American Title Insurance Company
Attached to Policy No.: NCS 940196
File No.: NCS-940196-CHI2
1. The insurance provided by this endorsement is subject to the exclusions in Section 4 of this
endorsement; and the Exclusions from Coverage, the Exceptions from Coverage contained in
Schedule B, and the Conditions in the policy.
2. For purposes of this endorsement only, "Improvement" means an existing building, located on either
the Land or adjoining land at Date of Policy and that by law constitutes real property.
3. The Company insures against loss or damage sustained by the Insured by reason of:
a. An encroachment of any Improvement located on the Land onto adjoining land or onto that
portion of the Land subject to an easement, unless an exception in Schedule B of the policy
identifies the encroachment;
b. An encroachment of any Improvement located on adjoining land onto the Land at Date of Policy,
unless an exception in Schedule B of the policy identifies the encroachment;
c. Enforced removal of any Improvement located on the Land as a result of an encroachment by
the Improvement onto any portion of the Land subject to any easement, in the event that the
owners of the easement shall, for the purpose of exercising the right of use or maintenance of
the easement, compel removal or relocation of the encroaching Improvement; or
d. Enforced removal of any Improvement located on the Land that encroaches onto adjoining land.
4. This endorsement does not insure against loss or damage (and the Company will not pay costs,
attorneys' fees, or expenses) resulting from the encroachments listed as Exceptions None of Schedule
B.
This endorsement is issued as part of the policy. Except as it expressly states, it does not (i) modify any
of the terms and provisions of the policy, (ii) modify any prior endorsements, (iii) extend the Date of
Policy, or (iv) increase the Amount of Insurance. To the extent a provision of the policy or a previous
Form No. 1402.06
ALTA Owner's Policy (6-17-06)
Policy Page 20
Policy Number: NCS 940196
First American Title Insurance Company
endorsement is inconsistent with an express provision of this endorsement, this endorsement controls.
Otherwise, this endorsement is subject to all of the terms and provisions of the policy and of any prior
endorsements.
Date: March 13, 2019
Form 50-10808 (7-1-14) Page 20 of 34 ALTA 28.1-06 - Encroachments - Boundaries and Easements (4-2-12)
Form No. 1402.06
ALTA Owner's Policy (6-17-06)
Policy Page 21
Policy Number: NCS 940196
First American Title Insurance Company
EASEMENT - DAMAGE OR ENFORCED REMOVAL ENDORSEMENT
(affects Parcel A Only)
Issued by
First American Title Insurance Company
Attached to Policy Number.: NCS 940196
File No.: NCS-940196-CHI2
The Company insures against loss or damage sustained by the Insured if the exercise of the granted or
reserved rights to use or maintain the easement(s) referred to in the Exception(s) 30 of Schedule B
results in:
1. damage to an existing building located on the Land, or
2. enforced removal or alteration of an existing building located on the Land.
This endorsement is issued as part of the policy. Except as it expressly states, it does not (i) modify any
of the terms and provisions of the policy, (ii) modify any prior endorsements, (iii) extend the Date of
Policy, or (iv) increase the Amount of Insurance. To the extent a provision of the policy or a previous
endorsement is inconsistent with an express provision of this endorsement, this endorsement controls.
Otherwise, this endorsement is subject to all of the terms and provisions of the policy and of any prior
endorsements.
Date: March 13, 2019
Form 50-10588 (7-1-14) Page 21 of 34 ALTA 28-06 Easement - Damage or Enforced Removal (Rev. 2-3-10)
Form No. 1402.06
ALTA Owner's Policy (6-17-06)
Policy Page 22
Policy Number: NCS 940196
First American Title Insurance Company
ZONING - COMPLETED
STRUCTURE ENDORSEMENT
Issued by
First American Title Insurance Company
Attached to Policy No.: NCS 940196
File No.: NCS-940196-CHI2
1. The Company insures against loss or damage sustained by the Insured in the event that, at Date of
Policy,
a. according to applicable zoning ordinances and amendments, the Land is not classified Zone CA
(Commercial Arterial) with Urban Design Overlay D;
b. the following use or uses are not allowed under that classification: Shopping Center
c. There shall be no liability under paragraph 1.b. if the use or uses are not allowed as the result of
any lack of compliance with any conditions, restrictions, or requirements contained in the zoning
ordinances and amendments, including but not limited to the failure to secure necessary
consents or authorizations as a prerequisite to the use or uses. This paragraph 1.c. does not
modify or limit the coverage provided in Covered Risk 5.
2. The Company further insures against loss or damage sustained by the Insured by reason of a final
decree of a court of competent jurisdiction either prohibiting the use of the Land, with any existing
structure, as specified in paragraph 1.b. or requiring the removal or alteration of the structure,
because, at Date of Policy, the zoning ordinances and amendments have been violated with respect
to any of the following matters:
a. Area, width, or depth of the Land as a building site for the structure
b. Floor space area of the structure
c. Setback of the structure from the property lines of the Land
d. Height of the structure, or
e. Number of parking spaces.
3. There shall be no liability under this endorsement based on:
a. the invalidity of the zoning ordinances and amendments until after a final decree of a court of
competent jurisdiction adjudicating the invalidity, the effect of which is to prohibit the use or
uses;
b. the refusal of any person to purchase, lease or lend money on the Title covered by this policy.
This endorsement is issued as part of the policy. Except as it expressly states, it does not (i) modify any
of the terms and provisions of the policy, (ii) modify any prior endorsements, (iii) extend the Date of
Policy, or (iv) increase the Amount of Insurance. To the extent a provision of the policy or a previous
Form No. 1402.06
ALTA Owner's Policy (6-17-06)
Policy Page 23
Policy Number: NCS 940196
First American Title Insurance Company
endorsement is inconsistent with an express provision of this endorsement, this endorsement controls.
Otherwise, this endorsement is subject to all of the terms and provisions of the policy and of any prior
endorsements.
Date: March 13, 2019
Form 50-10576 (7-1-14) Page 23 of 34 ALTA 3.1-06 Zoning - Completed Structure (Rev. 10-22-09)
CLTA 123.2-06 (Rev. 10-22-09)
Form No. 1402.06
ALTA Owner's Policy (6-17-06)
Policy Page 24
Policy Number: NCS 940196
First American Title Insurance Company
ACCESS AND ENTRY
ENDORSEMENT
Issued by
First American Title Insurance Company
Attached to Policy No.: NCS 940196
File No.: NCS-940196-CHI2
The Company insures against loss or damage sustained by the Insured if, at Date of Policy (i) the Land
described as Lot X does not abut and have both actual vehicular and pedestrian access to and from S.E.
Carr Road and 108th Avenue S.E. (Collectively, the "Street"), (ii) the Street is not physically open and
publicly maintained, or (iii) the Insured has no right to use existing curb cuts or entries along that portion
of the Street abutting the Land.
This endorsement is issued as part of the policy. Except as it expressly states, it does not (i) modify any
of the terms and provisions of the policy, (ii) modify any prior endorsements, (iii) extend the Date of
Policy, or (iv) increase the Amount of Insurance. To the extent a provision of the policy or a previous
endorsement is inconsistent with an express provision of this endorsement, this endorsement controls.
Otherwise, this endorsement is subject to all of the terms and provisions of the policy and of any prior
endorsements.
Date: March 13, 2019
Form 50-10045 (7-1-14) Page 24 of 34 ALTA 17-06 Access and Entry (6-17-06)
Form No. 1402.06
ALTA Owner's Policy (6-17-06)
Policy Page 25
Policy Number: NCS 940196
First American Title Insurance Company
ACCESS AND ENTRY
ENDORSEMENT
Issued by
First American Title Insurance Company
Attached to Policy No.: NCS 940196
File No.: NCS-940196-CHI2
The Company insures against loss or damage sustained by the Insured if, at Date of P olicy (i) the Land
described as Lot Y does not abut and have both actual vehicular and pedestrian access to and from 108th
Ave S.E. and 108th St. (Collectively, the "Street"), (ii) the Street is not physically open and publicly
maintained, or (iii) the Insured has no right to use existing curb cuts or entries along that portion of the
Street abutting the Land.
This endorsement is issued as part of the policy. Except as it expressly states, it does not (i) modify any
of the terms and provisions of the policy, (ii) modify any prior endorsements, (iii) extend the Date of
Policy, or (iv) increase the Amount of Insurance. To the extent a provision of the policy or a previous
endorsement is inconsistent with an express provision of this endorsement, this endorsement controls.
Otherwise, this endorsement is subject to all of the terms and provisions of the policy and of any prior
endorsements.
Date: March 13, 2019
Form 50-10045 (7-1-14) Page 25 of 34 ALTA 17-06 Access and Entry (6-17-06)
Form No. 1402.06
ALTA Owner's Policy (6-17-06)
Policy Page 26
Policy Number: NCS 940196
First American Title Insurance Company
MULTIPLE TAX PARCEL
ENDORSEMENT
Issued by
First American Title Insurance Company
Attached to Policy No.: NCS 940196
File No.: NCS-940196-CHI2
The Company insures against loss or damage sustained by the Insured by reason of:
1. those portions of the Land identified below not being assessed for real estate taxes under the listed
tax identification numbers or those tax identification numbers including any additional land:
Parcel: Tax Identification Numbers:
Lot X 322305-9063-05
Lot Y 322305-9065-03
2. the easements, if any, described in Schedule A being cut off or disturbed by the nonpayment of real
estate taxes, assessments or other charges imposed on the servient estate by a governmental
authority.
This endorsement is issued as part of the policy. Except as it expressly states, it does not (i) modify any
of the terms and provisions of the policy, (ii) modify any prior endorsements, (iii) extend the Date of
Policy, or (iv) increase the Amount of Insurance. To the extent a provision of the policy or a previous
endorsement is inconsistent with an express provision of this endorsement, this endorsement controls.
Otherwise, this endorsement is subject to all of the terms and provisions of the policy and of any prior
endorsements.
Date: March 13, 2019
Form 50-10049 (7-1-14) Page 26 of 34 ALTA 18.1-06 Multiple Tax Parcel (6-17-06)
Form No. 1402.06
ALTA Owner's Policy (6-17-06)
Policy Page 27
Policy Number: NCS 940196
First American Title Insurance Company
CONTIGUITY - MULTIPLE
PARCELS ENDORSEMENT
Issued by
First American Title Insurance Company
Attached to Policy No.: NCS 940196
File No.: NCS-940196-CHI2
The Company insures against loss or damage sustained by the Insured by reason of:
1. the failure of the Fee and Easement Parcels Described in Schedule A to be contiguous to each other,
and, taken as a tract, constitute one Parcel of Land; or
2. the presence of any gaps, strips, or gores separating any of the contiguous boundary lines described
above.
This endorsement is issued as part of the policy. Except as it expressly states, it does not (i) modify any
of the terms and provisions of the policy, (ii) modify any prior endorsements, (iii) extend the Date of
Policy, or (iv) increase the Amount of Insurance. To the extent a provision of the policy or a previous
endorsement is inconsistent with an express provision of this endorsement, this endorsement controls.
Otherwise, this endorsement is subject to all of the terms and provisions of the policy and of any prior
endorsements.
Date: March 13, 2019
Form 50-10050 (7-1-14) Page 27 of 34 ALTA 19-06 Contiguity - Multiple Parcels (6-17-06)
Form No. 1402.06
ALTA Owner's Policy (6-17-06)
Policy Page 28
Policy Number: NCS 940196
First American Title Insurance Company
LOCATION ENDORSEMENT
Issued by
(affects Parcels A and B Only)
First American Title Insurance Company
Attached to Policy No.: NCS 940196
File No.: NCS-940196-CHI2
The Company insures against loss or damage sustained by the Insured by reason of the failure of
Multiple Commercial Structures
known as 17605-17901 108th Avenue Southeast, Renton, WA,
to be located on the Land at Date of Policy.
This endorsement is issued as part of the policy. Except as it expressly states, it does not (i) modify any
of the terms and provisions of the policy, (ii) modify any prior endorsements, (iii) extend the Date of
Policy, or (iv) increase the Amount of Insurance. To the extent a provision of the policy or a previous
endorsement is inconsistent with an express provision of this endorsement, this endorsement controls.
Otherwise, this endorsement is subject to all of the terms and provisions of the policy and of any prior
endorsements.
Date: March 13, 2019
Form 50-10054 (7-1-14) Page 28 of 34 ALTA 22-06 Location (6-17-06)
Form No. 1402.06
ALTA Owner's Policy (6-17-06)
Policy Page 29
Policy Number: NCS 940196
First American Title Insurance Company
SAME AS SURVEY ENDORSEMENT
(affects Parcel A Only)
Issued by
First American Title Insurance Company
Attached to Policy No.: NCS 940196
File No.: NCS-940196-CHI2
The Company insures against loss or damage sustained by the Insured by reason of the failure of the
Land as described in Schedule A to be the same as that identified on the survey made by Matthew C.
Kneeland Professional Land Surveyor No. 48379 for Bock & Clark dated January 16, 2019 and last revised
on March 7, 2019, and designated Job No. 201805120-001.
This endorsement is issued as part of the policy. Except as it expressly states, it does not (i) modify any
of the terms and provisions of the policy, (ii) modify any prior endorsements, (iii) extend the Date of
Policy, or (iv) increase the Amount of Insurance. To the extent a provision of the policy or a previous
endorsement is inconsistent with an express provision of this endorsement, this endorsement controls.
Otherwise, this endorsement is subject to all of the terms and provisions of the policy and o f any prior
endorsements.
Date: March 13, 2019
Form 50-10059 (7-1-14) Page 29 of 34 ALTA 25-06 Same as Survey (10-16-08)
CLTA 116.1-06 (10-16-08)
Form No. 1402.06
ALTA Owner's Policy (6-17-06)
Policy Page 30
Policy Number: NCS 940196
First American Title Insurance Company
SUBDIVISION ENDORSEMENT
Issued by
First American Title Insurance Company
Attached to Policy No.: NCS 940196
File No.: NCS-940196-CHI2
The Company insures against loss or damage sustained by the Insured by reason of the failure of the
Land to constitute a lawfully created parcel according to the subdivision statutes and local subdivision
ordinances applicable to the Land.
This endorsement is issued as part of the policy. Except as it expressly states, it does not (i) modify any
of the terms and provisions of the policy, (ii) modify any prior endorsements, (iii) extend the Date of
Policy, or (iv) increase the Amount of Insurance. To the extent a provision of the policy or a previous
endorsement is inconsistent with an express provision of this endorsement, this endorsement controls.
Otherwise, this endorsement is subject to all of the terms and provisions of the policy and of any prior
endorsements.
Date:March 13, 2019
Form 50-10061 (7-1-14) Page 30 of 34 ALTA 26-06 Subdivision (10-16-08)
Form No. 1402.06
ALTA Owner's Policy (6-17-06)
Policy Page 31
Policy Number: NCS 940196
First American Title Insurance Company
COMMERCIAL ENVIRONMENTAL
PROTECTION LIEN ENDORSEMENT
Issued by
First American Title Insurance Company
Attached to Policy No.: NCS 940196
File No.: NCS-940196-CHI2
The Company insures against loss or damage sustained by the Insured by reason of an environmental
protection lien that, at Date of Policy, is recorded in the Public Records or filed in the records of the clerk
of the United States district court for the district in which the Land is located, unless the environmental
protection lien is set forth as an exception in Schedule B.
This endorsement is issued as part of the policy. Except as it expressly states, it does not (i) modify any
of the terms and provisions of the policy, (ii) modify any prior endorsements, (iii) extend the Date of
Policy, or (iv) increase the Amount of Insurance. To the extent a provision of the policy or a previous
endorsement is inconsistent with an express provision of this endorsement, this endorsement controls.
Otherwise, this endorsement is subject to all of the terms and provisions of the policy and of any prior
endorsements.
Date: March 13, 2019
Form 50-10021 (8-1-09) Page 31 of 34 ALTA 8.2-06 Commercial Environmental Protection Lien (10-16-08)
CLTA 110.9.1-06 (10-16-08)
Form No. 1402.06
ALTA Owner's Policy (6-17-06)
Policy Page 32
Policy Number: NCS 940196
First American Title Insurance Company
DELETION OF ARBITRATION - ALTA OWNER'S POLICY
ENDORSEMENT
Issued by
First American Title Insurance Company
Attached to Policy No.: NCS 940196
File No.: NCS-940196-CHI2
1. The policy is hereby amended by deleting Paragraph 14 from the Conditions of the policy.
This endorsement is issued as part of the policy. Except as it expressly states, it does not (i) modify any
of the terms and provisions of the policy, (ii) modify any prior endorsements, (iii) extend the Date of
Policy, or (iv) increase the Amount of Insurance. To the extent a provision of the policy or a previous
endorsement is inconsistent with an express provision of this endorsement, this endorsement controls.
Otherwise, this endorsement is subject to all of the terms and provisions of the policy and of any prior
endorsements.
Date:March 13, 2019
Form 50-10879 (7-1-14) Page 32 of 34 Deletion of Arbitration - ALTA Owner's Policy (6-05)
Form No. 1402.06
ALTA Owner's Policy (6-17-06)
Policy Page 33
Policy Number: NCS 940196
First American Title Insurance Company
POLICY AUTHENTICATION ENDORSEMENT
Issued by
First American Title Insurance Company
Attached to Policy No.: NCS 940196
File No.: NCS-940196-CHI2
When the policy is issued by the Company with a policy number and Date of Policy, the Company will not
deny liability under the policy or any endorsements issued with the policy solely on the grounds that the
policy or endorsements were issued electronically or lack signatures in accordance with the Conditions.
This endorsement is issued as part of the policy. Except as it expressly states, it does not (i) modify any
of the terms and provisions of the policy, (ii) modify any prior endorsements, (iii) extend the Date of
Policy, or (iv) increase the Amount of Insurance. To the extent a provision of the policy or a previous
endorsement is inconsistent with an express provision of this endorsement, this endorsement controls.
Otherwise, this endorsement is subject to all of the terms and provisions of the policy and of any prior
endorsements.
Date: March 13, 2019
Form 50-10899 (7-1-14) Page 33 of 34 ALTA 39.0-06 Policy Authentication (4-2-13)
Form No. 1402.06
ALTA Owner's Policy (6-17-06)
Policy Page 34
Policy Number: NCS 940196
First American Title Insurance Company
Privacy Information
We Are Committed to Safeguarding Customer Information
In order to better serve your needs now and in the future, we may ask you to provide us with certain information. We understand that you may be concerned about what we will do with such
information - particularly any personal or financial information. We agree that you have a right to know how we will utilize the personal information you provide to us. Therefore, together with our
subsidiaries we have adopted this Privacy Policy to govern the use and handling of your personal information.
Applicability
This Privacy Policy governs our use of the information that you provide to us. It does not govern the manner in which we may use information we have obtained from any other source, such as
information obtained from a public record or from another person or entity. First American has also adopted broader guidelines that govern our use of personal information regardless of its source.
First American calls these guidelines its Fair Information Values.
Types of Information
Depending upon which of our services you are utilizing, the types of nonpublic personal information that we may collect include: Information we receive from you on applications, forms and in other communications to us, whether in writing, in person, by telephone or any other means; Information about your transactions with us, our affiliated companies, or others; and Information we receive from a consumer reporting agency.
Use of Information
We request information from you for our own legitimate business purposes and not for the benefit of any nonaffiliated party. Therefore, we will not release your information to nonaffiliated parties
except: (1) as necessary for us to provide the product or service you have requested of us; or (2) as permitted by law. We ma y, however, store such information indefinitely, including the period
after which any customer relationship has ceased. Such information may be used for any internal purpose, such as quality control efforts or customer analysis. We may also provide all of the types of
nonpublic personal information listed above to one or more of our affiliated companies. Such affiliated companies include financial service providers, such as title insurers, property and casualty
insurers, and trust and investment advisory companies, or companies involved in real estate services, such as appraisal compa nies, home warranty companies and escrow companies. Furthermore,
we may also provide all the information we collect, as described above, to companies that perform marketing services on our b ehalf, on behalf of our affiliated companies or to other financial
institutions with whom we or our affiliated companies have joint marketing agreements.
Former Customers
Even if you are no longer our customer, our Privacy Policy will continue to apply to you.
Confidentiality and Security
We will use our best efforts to ensure that no unauthorized parties have access to any of your information. We restrict access to nonpublic personal information about you to those individuals and
entities who need to know that information to provide products or services to you. We will use our best efforts to train and oversee our employees and agents to ensure that your information will be
handled responsibly and in accordance with this Privacy Policy and First American's Fair Information Values. We currently maintain physical, electronic, and procedural safeguards that comply with
federal regulations to guard your nonpublic personal information.
Information Obtained Through Our Web Site
First American Financial Corporation is sensitive to privacy issues on the Internet. We believe it is important you know how we treat the information about you we receive on the Internet.
In general, you can visit First American or its affiliates’ Web sites on the World Wide Web without telling us who you are or revealing any information about yourself. Our Web servers collect the
domain names, not the e-mail addresses, of visitors. This information is aggregated to measure the number of visits, average time spent on the site, pages viewed and similar information. First
American uses this information to measure the use of our site and to develop ideas to improve the content of our site.
There are times, however, when we may need information from you, such as your name and email address. When information is nee ded, we will use our best efforts to let you know at the time of
collection how we will use the personal information. Usually, the personal information we collect is used only by us to respond to your inquiry, process an order or allow you to access specific
account/profile information. If you choose to share any personal information with us, we will only use it in accordance with the policies outlined above.
Business Relationships
First American Financial Corporation's site and its affiliates' sites may contain links to other Web sites. While we try to link only to sites that share our high standards and respect for privacy, we are
not responsible for the content or the privacy practices employed by other sites.
Cookies
Some of First American's Web sites may make use of "cookie" technology to measure site activity and to customize information to your personal tastes. A cookie is an element of data that a Web site
can send to your browser, which may then store the cookie on your hard drive.
FirstAm.com uses stored cookies. The goal of this technology is to better serve you when visiting our site, save you time when you are here and to provide you with a more meaningful and
productive Web site experience.
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Fair Information Values
Fairness We consider consumer expectations about their privacy in all our businesses. We only offer products and services that assure a favorable balance between consumer benefits and consumer
privacy.
Public Record We believe that an open public record creates significant value for society, enhances consumer choice and creates consumer opportunity. We actively support an open public record
and emphasize its importance and contribution to our economy.
Use We believe we should behave responsibly when we use information about a consumer in our business. We will obey the laws governing the collection, use and dissemination of data.
Accuracy We will take reasonable steps to help assure the accuracy of the data we collect, use and disseminate. Where possible, we will take reasonable steps to correct inaccurate information.
When, as with the public record, we cannot correct inaccurate information, we will take all reasonable steps to assist consum ers in identifying the source of the erroneous data so that the consumer
can secure the required corrections.
Education We endeavor to educate the users of our products and services, our employees and others in our industry about the importance of consumer privacy. We will instruct our employees on
our fair information values and on the responsible collection and use of data. We will encourage others in our industry to collect and use information in a responsible manner.
Security We will maintain appropriate facilities and systems to protect against unauthorized access to and corruption of the data we maintain.
Form 50-PRIVACY (9/1/10) Page 1 of 1 Privacy Information (2001-2010 First American Financial Corporation)