HomeMy WebLinkAboutL_Title_Report_190122_v1.pdfALTA COMMITMENT FOR TITLE INSURANCE
Issued By agent:
*W CHICAGO TITLE
COMPANY OF WASHINGTON
NOTICE
Commitment Number:
0139509-16
Update Second
Commitment
IMPORTANT - READ CAREFULLY: THIS COMMITMENT IS AN OFFER TO ISSUE ONE OR MORE TITLE
INSURANCE POLICIES. ALL CLAIMS OR REMEDIES SOUGHT AGAINST THE COMPANY INVOLVING THE
CONTENT OF THIS COMMITMENT OR THE POLICY MUST BE BASED SOLELY IN CONTRACT.
THIS COMMITMENT IS NOT AN ABSTRACT OF TITLE, REPORT OF THE CONDITION OF TITLE, LEGAL OPINION,
OPINION OF TITLE, OR OTHER REPRESENTATION OF THE STATUS OF TITLE. THE PROCEDURES USED BY
THE COMPANY TO DETERMINE INSURABILITY OF THE TITLE, INCLUDING ANY SEARCH AND EXAMINATION,
ARE PROPRIETARY TO THE COMPANY, WERE PERFORMED SOLELY FOR THE BENEFIT OF THE COMPANY,
AND CREATE NO EXTRACONTRACTUAL LIABILITY TO ANY PERSON, INCLUDING A PROPOSED INSURED.
THE COMPANY'S OBLIGATION UNDER THIS COMMITMENT IS TO ISSUE A POLICY TO A PROPOSED INSURED
IDENTIFIED IN SCHEDULE A IN ACCORDANCE WITH THE TERMS AND PROVISIONS OF THIS COMMITMENT.
THE COMPANY HAS NO LIABILITY OR OBLIGATION INVOLVING THE CONTENT OF THIS COMMITMENT TO ANY
OTHER PERSON.
COMMITMENT TO ISSUE POLICY
Subject to the Notice; Schedule B, Part I -Requirements; Schedule B, Part II -Exceptions; and the Commitment Conditions,
Chicago Title Insurance Company, a Florida corporation (the "Company"), commits to issue the Policy according to the
terms and provisions of this Commitment. This Commitment is effective as of the Commitment Date shown in Schedule A
for each Policy described in Schedule A, only when the Company has entered in Schedule A both the specified dollar
amount as the Proposed Policy Amount and the name of the Proposed Insured.
If all of the Schedule B, Part I -Requirements have not been met within one hundred eighty (180) days after the
Commitment Date, this Commitment terminates and the Company's liability and obligation end.
Countersigned By:
Authorized Officer or Agent
Chicago Title Insurance Company
By:
Attest:
President
Secretary
This page is only a part of a 2016 ALTA® Commitment for Title Insurance issued by Chicago Title Insurance Company. This Commitment is not valid without the
Notice; the Commitment to Issue Policy; the Commitment Conditions; Schedule A; Schedule 8, Part I -Requirements; Schedule 8, Part II -Exceptions; and a
counter -signature by the Company or its issuing agent that may be in electronic form.
Copyright American Land Title Association. All rights reserved. LANRICANLE
9 LAN TITLE
Asso�aroN
The use of this Form (or any derivative thereof) is restricted to ALTA licensees and ALTA members in good standing as
of the date of use. All other uses are prohibited. Reprinted under license from the American Land Title Association.
ALTA Commitment for Title Insurance w -WA Mod (08/01/2016) Printed: 01.22.19 @ 03:12 PM
Page 1 WA-CT-FNSE-02150.622481-SPS-1-19-0139509-16
CHICAGO TITLE COMPANY OF WASHINGTON
COMMITMENT NO. 0139509-16
UPDATE Second Commitment
ISSUING OFFICE:
FOR SETTLEMENT INQUIRIES, CONTACT:
Title Officer: Seattle Builder/ Unit 16
Chicago Title Company of Washington
701 5th Avenue, Suite 2700
Seattle, WA 98104
Phone: (206)628-5623
Main Phone: (206)628-5623
Email: CTISeattleBuilderUnit@ctt.com
SCHEDULE A
1. Commitment Date: January 15, 2019 at 08:00 AM
2. Policy to be issued:
(a) ALTA Loan Policy 2006
Proposed Insured:
Proposed Policy Amount
Premium:
Tax:
Rate:
Discount(s):
Total:
Columbia State Bank, its successors and/or assigns
$707,500.00
Extended
Construction Loan
$ 718.00
$ 72.52
$ 790.52
3. The estate or interest in the Land described or referred to in this Commitment is:
FEE SIMPLE
4. The Title is, at the Commitment Date, vested in:
Renton 4, LLC, a Washington limited liability company
5. The Land is described as follows:
SEE EXHIBIT "A" ATTACHED HERETO AND MADE A PART HEREOF
END OF SCHEDULE A
This page is only a part of a 2016 ALTA® Commitment for Title Insurance issued by Chicago Title Insurance Company. This Commitment is not valid without the
Notice; the Commitment to Issue Policy; the Commitment Conditions; Schedule A; Schedule 8, Part I -Requirements; Schedule 8, Part II -Exceptions; and a
counter -signature by the Company or its issuing agent that may be in electronic form.
AM American Land Title Association. All rights reserved. LAND RICAN
Copyright
9 LAND
Asso�aroN
The use of this Form (or any derivative thereof) is restricted to ALTA licensees and ALTA members in good standing as e
of the date of use. All other uses are prohibited. Reprinted under license from the American Land Title Association.
ALTA Commitment for Title Insurance w -WA Mod (08/01/2016) Printed: 01.22.19 @ 03:12 PM
Page 2 WA-CT-FNSE-02150.622481-SPS-1-19-0139509-16
EXHIBIT "A"
Legal Description
For APN/Parcel ID(s): 142305-9064-06 and 142305-9070-08
PARCEL A: (142305-9064-06)
THE EAST 866.01 FEET, AS MEASURED ALONG THE NORTH LINE, OF THE NORTH HALF OF THE
NORTHEAST QUARTER OF THE NORTHWEST QUARTER OF SECTION 14, TOWNSHIP 23 NORTH,
RANGE 5 EAST, W.M., IN KING COUNTY, WASHINGTON;
EXCEPT THE NORTHEAST QUARTER OF THE NORTHEAST QUARTER OF THE NORTHWEST
QUARTER OF SAID SECTION 14;
AND EXCEPT THE EAST 32.43 FEET OF THE NORTH 406.01 FEET THEREOF;
AND EXCEPT THE NORTH 42 FEET THEREOF CONVEYED TO KING COUNTY FOR ROAD
PURPOSES BY DEED RECORDED UNDER RECORDING NO. 5758686;
AND EXCEPT PUGET SOUND POWER AND LIGHT COMPANY RIGHT OF WAY.
PARCEL B:(142305-9070-08)
THE WEST 150.00 FEET OF EAST 1016.01 FEET AS MEASURED ALONG THE NORTH LINE OF THE
NORTH HALF OF THE NORTHEAST QUARTER OF NORTHWEST QUARTER OF SECTION 14,
TOWNSHIP 23 NORTH, RANGE 5 EAST, W.M., IN KING COUNTY WASHINGTON;
EXCEPT PUGET SOUND POWER AND LIGHT COMPANY RIGHT OF WAY;
AND EXCEPT THE NORTH 42 FEET THEREOF CONVEYED TO KING COUNTY FOR ROAD AND
PURPOSES BY DEED RECORDED UNDER AUDITOR'S FILE NO. 5758686.
SITUATE IN THE CITY OF RENTON, COUNTY OF KING, STATE OF WASHINGTON.
This page is only a part of a 2016 ALTA® Commitment for Title Insurance issued by Chicago Title Insurance Company. This Commitment is
not valid without the Notice; the Commitment to Issue Policy; the Commitment Conditions; Schedule A; Schedule 8, Part I -Requirements;
Schedule 8, Part II -Exceptions; a counter -signature by the Company or its issuing agent that may be in electronic form.
AM Copyright American Land Title Association. All rights reserved. LANDRICANLE
9 LAND TITLE
,SSUCIATION
The use of this Form (or any derivative thereof) is restricted to ALTA licensees and ALTA members in good standing as
of the date of use. All other uses are prohibited. Reprinted under license from the American Land Title Association.
ALTA Commitment for Title Insurance w -WA Mod (08/01/2016) Printed: 01.22.19 @ 03:12 PM
Page 3 WA-CT-FNSE-02150.622481-SPS-1-19-0139509-16
CHICAGO TITLE COMPANY OF WASHINGTON
SCHEDULE B, PART I
REQUIREMENTS
All of the following Requirements must be met:
COMMITMENT NO. 0139509-16
UPDATE Second Commitment
The Proposed Insured must notify the Company in writing of the name of any party not referred to in this
Commitment who will obtain an interest in the Land or who will make a loan on the Land. The Company may then
make additional Requirements or Exceptions.
2. Pay the agreed amount for the estate or interest to be insured.
3. Pay the premiums, fees, and charges for the Policy to the Company.
4. Documents satisfactory to the Company that convey the Title or create the Mortgage to be insured, or both, must
be properly authorized, executed, delivered, and recorded in the Public Records.
5. Additional requirements and/or exceptions may be added as details of the transaction are disclosed to, or become
known by the Company.
6. Terms and conditions of the limited liability company agreement for Renton 4, LLC, a Washington limited liability
company.
According to the LLC agreement, dated October 20, 2016, the LLC is to be managed by it's members. The
members of Renton 4 LLC are:
Alpy, LLC, a Washington Limited Liability Company and
Mundy Jo Holdings, LLC, a Washington Limited Liability Company
According to the LLC agreement for Alpy LLC, dated March 16, 2016, the LLC is to be managed by it's members,
being Peter DelMissier and Kevin Murray.
According to the LLC agreement for Mundy Jo Holdings LLC, dated April 25, 2007, the members of the LLC are
Michael D. Crowson and Melanie J. Crowson. Either may sign as a manager on behalf of the LLC
This page is only a part of a 2016 ALTA® Commitment for Title Insurance issued by Chicago Title Insurance Company. This Commitment is not valid without the
Notice; the Commitment to Issue Policy; the Commitment Conditions; Schedule A; Schedule 8, Part I -Requirements; Schedule 8, Part II -Exceptions; and a
counter -signature by the Company or its issuing agent that may be in electronic form.
American Land Title Association. All rights reserved. LAND AMERICAN
Copyright
9 LAND
Asso�aroN
The use of this Form (or any derivative thereof) is restricted to ALTA licensees and ALTA members in good standing as e
of the date of use. All other uses are prohibited. Reprinted under license from the American Land Title Association.
ALTA Commitment for Title Insurance w -WA Mod (08/01/2016) Printed: 01.22.19 @ 03:12 PM
Page 4 WA-CT-FNSE-02150.622481-SPS-1-19-0139509-16
CHICAGO TITLE COMPANY OF WASHINGTON
SCHEDULE B, PART I
REQUIREMENTS
(continued)
COMMITMENT NO. 0139509-16
UPDATE Second Commitment
TO PROVIDE THE EXTENDED COVERAGE LOAN POLICY IDENTIFIED IN SCHEDULE A, GENERAL
EXCEPTIONS A THROUGH D WILL BE CONSIDERED WHEN OUR INSPECTION AND/OR REVIEW OF
SURVEY, IF REQUIRED, IS COMPLETED. A SUPPLEMENTAL COMMITMENT WILL FOLLOW.
If there have been recent improvements on the property within 90 days prior to closing we will require a signed
indemnity agreement and a recent financial statement from each indemnitor.
If construction financing is to be insured, please contact the title officer for requirements.
The Company reserves the right to add additional exceptions or make further requirements after review of the
property inspection and requested documentation.
END OF REQUIREMENTS
NOTES
The following matters will not be listed as Special Exceptions in Schedule B of the policy. There will be no coverage for
loss arising by reason of the matters listed below because these matters are either excepted or excluded from coverage or
are not matters covered under the insuring provisions of the policy.
Note A: Notice: Please be aware that due to the conflict between federal and state laws concerning the
cultivation, distribution, manufacture or sale of marijuana, the Company is not able to close or insure any
transaction involving Land that is associated with these activities.
Note B: Your application for title insurance was placed by reference to only a street address or tax identification
number. Based on our records, we believe that the legal description in this report covers the parcel(s) of
Land you requested. If the legal description is incorrect, the seller/borrower must notify the Company
and/or the settlement company in order to prevent errors and to be certain that the correct parcel(s) of
Land will appear on any documents to be recorded in connection with this transaction and on the policy
of title insurance.
Note C: Note: FOR INFORMATIONAL PURPOSES ONLY:
The following may be used as an abbreviated legal description on the documents to be recorded, per
Amended RCW 65.04.045. Said abbreviated legal description is not a substitute for a complete legal
description within the body of the document:
portion of NE 1/4 NW 1/4, of section 14-23-5
Tax Account Nos.: 142305-9064-06 and 142305-9070-08
This page is only a part of a 2016 ALTA® Commitment for Title Insurance issued by Chicago Title Insurance Company. This Commitment is not valid without the
Notice; the Commitment to Issue Policy; the Commitment Conditions; Schedule A; Schedule 8, Part I -Requirements; Schedule 8, Part II -Exceptions; and a
counter -signature by the Company or its issuing agent that may be in electronic form.
AM American Land Title Association. All rights reserved. LAND RICAN
Copyright
9 LAND
The use of this Form (or any derivative thereof) is restricted to ALTA licensees and ALTA members in good standing as
of the date of use. All other uses are prohibited. Reprinted under license from the American Land Title Association.
ALTA Commitment for Title Insurance w -WA Mod (08/01/2016) Printed: 01.22.19 @ 03:12 PM
Page 5 WA-CT-FNSE-02150.622481-SPS-1-19-0139509-16
CHICAGO TITLE COMPANY OF WASHINGTON
SCHEDULE B, PART I
REQUIREMENTS
(continued)
COMMITMENT NO. 0139509-16
UPDATE Second Commitment
Note D: The Public Records indicate that the address of the improvement located on said Land is as follows:
6201 Northeast 4th Street
Renton, WA 98059
Note E: The only conveyance(s) affecting said Land, which recorded within 36 months of the date of this report,
are as follows:
Recorded: October 20, 2017
Recording No: 20171020002112
Recorded: October 20, 2017
Recording No: 20171020002113
Note F: This map/plat is being furnished as an aid in locating the herein described Land in relation to adjoining
streets, natural boundaries and other land. Except to the extent of a policy of title insurance is expressly
modified by endorsement, if any, the Company does not insure dimensions, distances or acreage
shown thereon.
END OF NOTES
END OF SCHEDULE B, PART I
This page is only a part of a 2016 ALTA® Commitment for Title Insurance issued by Chicago Title Insurance Company. This Commitment is not valid without the
Notice; the Commitment to Issue Policy; the Commitment Conditions; Schedule A; Schedule 8, Part I -Requirements; Schedule 8, Part II -Exceptions; and a
counter -signature by the Company or its issuing agent that may be in electronic form.
AM American Land Title Association. All rights reserved. LAND RICAN
Copyright
9 LAND
The use of this Form (or any derivative thereof) is restricted to ALTA licensees and ALTA members in good standing as
of the date of use. All other uses are prohibited. Reprinted under license from the American Land Title Association.
ALTA Commitment for Title Insurance w -WA Mod (08/01/2016) Printed: 01.22.19 @ 03:12 PM
Page 6 WA-CT-FNSE-02150.622481-SPS-1-19-0139509-16
CHICAGO TITLE COMPANY OF WASHINGTON
SCHEDULE B, PART II
EXCEPTIONS
COMMITMENT NO. 0139509-16
UPDATE Second Commitment
THIS COMMITMENT DOES NOT REPUBLISH ANY COVENANT, CONDITION, RESTRICTION, OR LIMITATION
CONTAINED IN ANY DOCUMENT REFERRED TO IN THIS COMMITMENT TO THE EXTENT THAT THE SPECIFIC
COVENANT, CONDITION, RESTRICTION, OR LIMITATION VIOLATES STATE OR FEDERAL LAW BASED ON RACE,
COLOR, RELIGION, SEX, SEXUAL ORIENTATION, GENDER IDENTITY, HANDICAP, FAMILIAL STATUS, OR
NATIONAL ORIGIN.
The Policy will not insure against loss or damage resulting from the terms and provisions of any lease or easement
identified in Schedule A, and will include the following Exceptions unless cleared to the satisfaction of the Company:
GENERAL EXCEPTIONS:
A. Rights or claims of parties in possession, or claiming possession, not shown in Public Records.
B. Any encroachment, encumbrance, violation, variation, or adverse circumstance affecting the Title that would be
disclosed by an accurate and complete land survey of the Land.
C. Easements, prescriptive rights, rights-of-way, liens or encumbrances, or claims thereof, not shown by the Public
Records.
D. Any lien, or right to a lien, for contributions to employee benefit funds, or for state workers' compensation, or for
services, labor, or material heretofore or hereafter furnished, all as imposed law, and not shown by the Public
Records.
E. Taxes or special assessments which are not yet payable or which are not shown as existing liens by the Public
Records.
F. Any lien for service, installation, connection, maintenance, tap, capacity, or construction or similar charges for
sewer, water, electricity, natural gas or other utilities, or for garbage collection and disposal not shown by the
Public Records.
This page is only a part of a 2016 ALTA® Commitment for Title Insurance issued by Chicago Title Insurance Company. This Commitment is not valid without the
Notice; the Commitment to Issue Policy; the Commitment Conditions; Schedule A; Schedule 8, Part I -Requirements; Schedule 8, Part II -Exceptions; and a
counter -signature by the Company or its issuing agent that may be in electronic form.
AM American Land Title Association. All rights reserved. LAND RICAN
Copyright
9 LAND
Asso�aroN
The use of this Form (or any derivative thereof) is restricted to ALTA licensees and ALTA members in good standing as e
of the date of use. All other uses are prohibited. Reprinted under license from the American Land Title Association.
ALTA Commitment for Title Insurance w -WA Mod (08/01/2016) Printed: 01.22.19 @ 03:12 PM
Page 7 WA-CT-FNSE-02150.622481-SPS-1-19-0139509-16
CHICAGO TITLE COMPANY OF WASHINGTON
SCHEDULE B, PART II
EXCEPTIONS
(continued)
G. Unpatented mining claims, and all rights relating thereto.
COMMITMENT NO. 0139509-16
UPDATE Second Commitment
H. Reservations and exceptions in United States Patents or in Acts authorizing the issuance thereof.
I. Indian tribal codes or regulations, Indian treaty or aboriginal rights, including easements or equitable servitudes.
J. Water rights, claims or title to water.
K. Any defect, lien, encumbrance, adverse claim, or other matter that appears for the first time in the Public
Records, or is created, attaches, or is disclosed between the Commitment Date and the date on which all of the
Schedule B, Part I - Requirements are met.
SPECIAL EXCEPTIONS:
Road Maintenance Agreement Agreement
Recording Date: November 25, 1991
Recording No.: 9111250571
Affects: Parcels A & B
Right to make necessary slopes for cuts or fills upon property herein described as granted in deed:
Grantee: King County
Recorded: July 8, 1964
Recording Number 5758686
Affects: Parcel A
This page is only a part of a 2016 ALTA® Commitment for Title Insurance issued by Chicago Title Insurance Company. This Commitment is not valid without the
Notice; the Commitment to Issue Policy; the Commitment Conditions; Schedule A; Schedule 8, Part I -Requirements; Schedule 8, Part II -Exceptions; and a
counter -signature by the Company or its issuing agent that may be in electronic form.
American Land Title Association. All rights reserved. LAND AMERICAN
Copyright
9 LAND
Asso�aroN
The use of this Form (or any derivative thereof) is restricted to ALTA licensees and ALTA members in good standing as
of the date of use. All other uses are prohibited. Reprinted under license from the American Land Title Association.
ALTA Commitment for Title Insurance w -WA Mod (08/01/2016) Printed: 01.22.19 @ 03:12 PM
Page 8 WA-CT-FNSE-02150.622481-SPS-1-19-0139509-16
CHICAGO TITLE COMPANY OF WASHINGTON
SCHEDULE B, PART II
EXCEPTIONS
(continued)
COMMITMENT NO. 0139509-16
UPDATE Second Commitment
Terms and conditions of City of Renton Ordinance Number 4612, recorded under King County Recording No.
9606210966. Said ordinance, in part, provides for connection charges for sanitary sewer service.
4. Matters disclosed by a Survey of said premises by Terrane, dated March 9, 2017 and last revised September 5,
2017 under Job No. 150197, as follows:
A. Location of a board fence lying up 0.5 feet east of the west property line, and any adverse rights stemming
therefrom.
B. Encroachment of a rockery, appurtenant to the southwesterly adjoiner, up to 0.9 feet east of a south portion of
the west property line, and any adverse rights stemming therefrom.
C. Location of a rail wood fence, lying up to 6.4 feet west of a northerly portion of the east property line, and any
adverse rights stemming therefrom.
D. Location of a barb wire fence, lying up to 1.1 feet west of a southerly portion of the east property line, and any
adverse rights stemming therefrom.
Easement(s) for the purpose(s) shown below and rights incidental thereto, as granted in a document:
Granted to: Puget Sound Energy, Inc.
Purpose: utility systems for electricity
Recording Date: June 7, 2018
Recording No.: 20180607000343
Affects: a strip of land 10 feet in width lying within the west 45 feet of the north 105 feet of Parcel A
Easement(s) for the purpose(s) shown below and rights incidental thereto, as granted in a document:
Granted to: Puget Sound Energy, Inc.
Purpose: utility systems for gas and electricity
Recording Date: June 14, 2018
Recording No.: 20180614000639
Affects: portion of Parcels A and B, as described in said instrument
This page is only a part of a 2016 ALTA® Commitment for Title Insurance issued by Chicago Title Insurance Company. This Commitment is not valid without the
Notice; the Commitment to Issue Policy; the Commitment Conditions; Schedule A; Schedule 8, Part I -Requirements; Schedule 8, Part II -Exceptions; and a
counter -signature by the Company or its issuing agent that may be in electronic form.
American Land Title Association. All rights reserved. LAND AMERICAN
Copyright
9 LAND
Asso�aroN
The use of this Form (or any derivative thereof) is restricted to ALTA licensees and ALTA members in good standing as e
of the date of use. All other uses are prohibited. Reprinted under license from the American Land Title Association.
ALTA Commitment for Title Insurance w -WA Mod (08/01/2016) Printed: 01.22.19 @ 03:12 PM
Page 9 WA-CT-FNSE-02150.622481-SPS-1-19-0139509-16
CHICAGO TITLE COMPANY OF WASHINGTON
SCHEDULE B, PART II
EXCEPTIONS
(continued)
COMMITMENT NO. 0139509-16
UPDATE Second Commitment
General and special taxes and charges, payable February 15, delinquent if first half unpaid on May 1, second half
delinquent if unpaid on November 1 of the tax year (amounts do not include interest and penalties):
Year: 2019
Tax Account Number: 142305-9064-06
Levy Code: 2171
Assessed Value -Land: $539,000.00
Assessed Value -Improvements: $0.00
General and Special Taxes: Billed: $ Not yet available
Paid: $ 0.00
Unpaid: $ Not yet available
Taxes for 2018 in the amount of $6,841.86, have been paid in full.
Affects:
Parcel A
General and special taxes and charges, payable February 15, delinquent if first half unpaid on May 1, second half
delinquent if unpaid on November 1 of the tax year (amounts do not include interest and penalties):
Year:
Tax Account Number:
Levy Code:
Assessed Value -Land:
Assessed Value -Improvements
General and Special Taxes
2019
142305-9070-08
2171
$415,000.00
$356,000.00
Billed: $ Not yet available
Paid: $ 0.00
Unpaid: $ Not yet available
Taxes for 2018 in the amount of $7,727.56, have been paid in full.
Affects:
Parcel B
This page is only a part of a 2016 ALTA® Commitment for Title Insurance issued by Chicago Title Insurance Company. This Commitment is not valid without the
Notice; the Commitment to Issue Policy; the Commitment Conditions; Schedule A; Schedule 8, Part I -Requirements; Schedule 8, Part II -Exceptions; and a
counter -signature by the Company or its issuing agent that may be in electronic form.
AM American Land Title Association. All rights reserved. LAND RICAN
Copyright
9 LAND
Asso�aroN
The use of this Form (or any derivative thereof) is restricted to ALTA licensees and ALTA members in good standing as e
of the date of use. All other uses are prohibited. Reprinted under license from the American Land Title Association.
ALTA Commitment for Title Insurance w -WA Mod (08/01/2016) Printed: 01.22.19 @ 03:12 PM
Page 10 WA-CT-FNSE-02150.622481-SPS-1-19-0139509-16
CHICAGO TITLE COMPANY OF WASHINGTON
SCHEDULE B, PART II
EXCEPTIONS
(continued)
A Deed of Trust to secure an indebtedness in the amount shown below,
COMMITMENT NO. 0139509-16
UPDATE Second Commitment
Amount:
$3,265,000.00
Dated:
April 4, 2018
Trustor/Grantor:
Renton 4, LLC, a Washington Limited Liability Company
Trustee:
First American Title Insurance Company
Beneficiary:
Columbia State Bank
Loan No:
1824017
Recording Date:
April 11, 2018
Recording No.:
20180411001496
Affects:
Parcels A & B
10. Any unrecorded leaseholds, right of vendors and holders of security interests on personal property installed upon
the Land and rights of tenants to remove trade fixtures at the expiration of the terms.
END OF SCHEDULE B, PART II
This page is only a part of a 2016 ALTA® Commitment for Title Insurance issued by Chicago Title Insurance Company. This Commitment is not valid without the
Notice; the Commitment to Issue Policy; the Commitment Conditions; Schedule A; Schedule 8, Part I -Requirements; Schedule 8, Part II -Exceptions; and a
counter -signature by the Company or its issuing agent that may be in electronic form.
American Land Title Association. All rights reserved. LAND AMERICAN
Copyright
9 LAND
Asso�aroN
The use of this Form (or any derivative thereof) is restricted to ALTA licensees and ALTA members in good standing as e
of the date of use. All other uses are prohibited. Reprinted under license from the American Land Title Association.
ALTA Commitment for Title Insurance w -WA Mod (08/01/2016) Printed: 01.22.19 @ 03:12 PM
Page 11 WA-CT-FNSE-02150.622481-SPS-1-19-0139509-16
CHICAGO TITLE COMPANY OF WASHINGTON
COMMITMENT CONDITIONS
COMMITMENT NO. 0139509-16
UPDATE Second Commitment
1. DEFINITIONS
(a) "Knowledge" or "Known": Actual or imputed knowledge, but not constructive notice imparted by the Public Records.
(b) "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 to be
insured by the Policy.
(c) "Mortgage": A mortgage, deed of trust, or other security instrument, including one evidenced by electronic means authorized by law.
(d) "Policy": Each contract of title insurance, in a form adopted by the American Land Title Association, issued or to be issued by the Company
pursuant to this Commitment.
(e) "Proposed Insured": Each person identified in Schedule A as the Proposed Insured of each Policy to be issued pursuant to this Commitment.
(f) "Proposed Policy Amount": Each dollar amount specified in Schedule A as the Proposed Policy Amount of each Policy to be issued pursuant
to this Commitment.
(g) "Public Records": Records established under state statutes at the Commitment Date for the purpose of imparting constructive notice of
matters relating to real property to purchasers for value and without Knowledge.
(h) "Title": The estate or interest described in Schedule A.
2. If all of the Schedule B, Part I -Requirements have not been met within the time period specified in the Commitment to Issue Policy, this
Commitment terminates and the Company's liability and obligation end.
3. The Company's liability and obligation is limited by and this Commitment is not valid without:
(a) the Notice;
(b) the Commitment to Issue Policy;
(c) the Commitment Conditions;
(d) Schedule A;
(e) Schedule B, Part I -Requirements;
(f) Schedule B, Part II -Exceptions; and
(g) a counter -signature by the Company or its issuing agent that may be in electronic form.
4. COMPANY'S RIGHT TO AMEND
The Company may amend this Commitment at any time. If the Company amends this Commitment to add a defect, lien, encumbrance, adverse
claim, or other matter recorded in the Public Records prior to the Commitment Date, any liability of the Company is limited by Commitment
Condition 5. The Company shall not be liable for any other amendment to this Commitment.
5. LIMITATIONS OF LIABILITY
(a) The Company's liability under Commitment Condition 4 is limited to the Proposed Insured's actual expense incurred in the interval between
the Company's delivery to the Proposed Insured of the Commitment and the delivery of the amended Commitment, resulting from the
Proposed Insured's good faith reliance to:
(i) comply with the Schedule B, Part I -Requirements;
(ii) eliminate, with the Company's written consent, any Schedule B, Part II -Exceptions; or
(iii) acquire the Title or create the Mortgage covered by this Commitment.
(b) The Company shall not be liable under Commitment Condition 5(a) if the Proposed Insured requested the amendment or had Knowledge of
the matter and did not notify the Company about it in writing.
(c) The Company will only have liability under Commitment Condition 4 if the Proposed Insured would not have incurred the expense had the
Commitment included the added matter when the Commitment was first delivered to the Proposed Insured.
(d) The Company's liability shall not exceed the lesser of the Proposed Insured's actual expense incurred in good faith and described in
Commitment Conditions 5(a)(i) through 5(a)(iii) or the Proposed Policy Amount.
(e) The Company shall not be liable for the content of the Transaction Identification Data, if any.
(f) In no event shall the Company be obligated to issue the Policy referred to in this Commitment unless all of the Schedule B,
Part I -Requirements have been met to the satisfaction of the Company.
(g) In any event, the Company's liability is limited by the terms and provisions of the Policy.
6. LIABILITY OF THE COMPANY MUST BE BASED ON THIS COMMITMENT
(a) Only a Proposed Insured identified in Schedule A, and no other person, may make a claim under this Commitment.
(b) Any claim must be based in contract and must be restricted solely to the terms and provisions of this Commitment.
This page is only a part of a 2016 ALTA® Commitment for Title Insurance issued by Chicago Title Insurance Company. This Commitment is not valid without the
Notice; the Commitment to Issue Policy, the Commitment Conditions; Schedule A; Schedule B, Part I -Requirements; Schedule 8, Part 11 -Exceptions; and a
counter -signature by the Company or its issuing agent that may be in electronic form.
Copyright American Land Title Association. All rights reserved. AMERICAN
LAND TITLE
ASSOCIATION
The use of this Form (or any derivative thereof) is restricted to ALTA licensees and ALTA members in good standing as
of the date of use. All other uses are prohibited. Reprinted under license from the American Land Title Association.
ALTA Commitment for Title Insurance w -WA Mod (08/01/2016) Printed: 01.22.19 @ 03:12 PM
Page 12 WA-CT-FNSE-02150.622481-SPS-1-19-0139509-16
CHICAGO TITLE COMPANY OF WASHINGTON
(continued)
COMMITMENT NO. 0139509-16
UPDATE Second Commitment
(c) Until the Policy is issued, this Commitment, as last revised, is the exclusive and entire agreement between the parties with respect to the
subject matter of this Commitment and supersedes all prior commitment negotiations, representations, and proposals of any kind, whether
written or oral, express or implied, relating to the subject matter of this Commitment.
(d) The deletion or modification of any Schedule B, Part II -Exception does not constitute an agreement or obligation to provide coverage beyond
the terms and provisions of this Commitment or the Policy.
(e) Any amendment or endorsement to this Commitment must be in writing and authenticated by a person authorized by the Company.
(f) When the Policy is issued, all liability and obligation under this Commitment will end and the Company's only liability will be under the Policy.
7. IF THIS COMMITMENT HAS BEEN ISSUED BY AN ISSUING AGENT
The issuing agent is the Company's agent only for the limited purpose of issuing title insurance commitments and policies. The issuing agent is
not the Company's agent for the purpose of providing closing or settlement services.
8. PRO -FORMA POLICY
The Company may provide, at the request of a Proposed Insured, a pro -forma policy illustrating the coverage that the Company may provide. A
pro -forma policy neither reflects the status of Title at the time that the pro -forma policy is delivered to a Proposed Insured, nor is it a commitment
to insure.
END OF CONDITIONS
This page is only a part of a 2016 ALTA® Commitment for Title Insurance issued by Chicago Title Insurance Company. This Commitment is not valid without the
Notice; the Commitment to Issue Policy; the Commitment Conditions; Schedule A; Schedule 8, Part I -Requirements; Schedule 8, Part II -Exceptions; and a
counter -signature by the Company or its issuing agent that may be in electronic form.
American Land Title Association. All rights reserved. LAND AMERICAN
Copyright
9 LAND
A11-1 11N
The use of this Form (or any derivative thereof) is restricted to ALTA licensees and ALTA members in good standing as
of the date of use. All other uses are prohibited. Reprinted under license from the American Land Title Association.
ALTA Commitment for Title Insurance w -WA Mod (08/01/2016) Printed: 01.22.19 @ 03:12 PM
Page 13 WA-CT-FNSE-02150.622481-SPS-1-19-0139509-16