HomeMy WebLinkAboutC_HAWK_Lease_fully_executed_3-14-19Neil Walter Company
550 S Michigan St
Seattle, WA 98108
Phone: 206-787-1800
NSIL WALTER Fax: 206-787-1479
c c:~1?AN".'
LEASE AGREEMENT
(Single Tenant For Entire Parcel-NNN)
ecomme:-daiBrokers em/
Asscc~atlon 2011
ALL RIGHTS RESERVED
CBA Fo:m S':" -NNN
Si~g'e 7ena.'1t :-INN -use
Rev. 31201 ~
Page • or33
THIS LEASE AGREEMENT (the "Lease") is entered into and effective as of this 20th day of November,
2018, between Hawk Famllv East Valley LLC ("Landlord"), and Stacy Holdings LLC, dba Compton
Lumber ("Tenant''). Landlord and Tenant agree as follows:
1. LEASE SUMMARY.
a. Leased Premises. The leased commercial real estate (the "Premises") consist of the real
property legally described on attached Exhibit A, and all improvements thereon, and commonly
described as 2940 East Valley Road. Renton. WA.
b. Lease Commencement Date. The term of this Lease shall be for a period of !JglJPL
four (841 months and shall commence on March 1, 2019 or such earlier or later date as provided
in Section 3 (the "Commencement Date").
c. Lease Termination Date. The term of this Lease shall terminate at midnight on Februarv
28, 2026 or such earlier or later date as provided in Section 3 (the "Termination Date"). Tenant
shall have no right or option to extend this Lease, unless otherwise set forth in a rider attached to
this Lease (e.g., Option to Extend Rider, CBA Form OR).
d. Base Rent. The base monthly rent shall be (check one): ~ $21.000 plus NNN, or D
according to the Rent Rider attached hereto ("Base Rent") .. Rent shall be payable at Landlord's
address shown in Section 1 (h) below, or such other place designated in writing by Landlord.
e. Prepaid Rent. Upon execution of this Lease, Tenant shall deliver to· landlord the sum of
$21.000 as prepaid rent , to be applied to the Rent due for months 12 through 12 of the Lease.
f. Security Deposit. Upon execution of this Lease, Tenant shall deliver to Landlord the sum
of $100.000 to be held as a security deposit pursuant to Section 5 below. UPON LANDLORD'S
DELIVERY OF "ADDITIONAL YARD" AS DESCRIBED IN THE ATTACHED ADDENDUM #1 ,
TENANT SHALL DELIVER AN ADDITIONAL $100,000 TO BE HELD AS SECURITY DEPOSIT
PERSUANT TO SECTION 5 BELOW. TOTAL DEPOSIT AMOUNT SHALL THEN BE $200,000.
The security deposit shall be in the form of (check one): ~cash, or D letter of credit according
to the Letter of Credit Rider (CBA Form LCR) attached hereto.
g. Permitted Use. The Premises shall be used only for the operation of a lumber and
building materials sales center and anv ancillary activities and for no other purpose without
the prior written consent of Landlord (the "Permitted Use").
h. Notice and Payment Addresses.
Landlord: Hawk Family East Valley LLC. ATTN: James L Hawk JR
PO Box 1131
Ravensdale, WA 98051
(2531 67().4044
Fax No.:_
EmaH: iimhawk62@hotmail.com
Tenant: Stacy Holdings LLC, dba Compton Lumber.
ATTN: Glen Solberg
3847 1st Ave S. Seattle. WA
K:\FFa:'!'anCompton\Leases\Co~pton ~ease @ t..:ewk.docx
Neil Walter Company
550 S Michigan St
Seattle, WA 98108
Phone : 206-787-1800
~E lL ~!.ALTER Fax: 206-787-1479
C ::: :-1 F' 1', N Y
LEASE AGREEMENT
(Single Tenant For Entire Parcel-NNN)
Glen Solberg: 206-623-5010
Shirley Stacy: 225-892-4195
Fax No.: __
Email: qlen@comptonlbr.com
2. PREMISES.
c Commerc ial Brokers ~
Association 2011
ALL RIGHTS RESERVED
CBA Form ST-NM\1
Slng!e T eoa.1! NNII: i.e!IH
Rev. 31201 1
Pav&2 ~33
a. Lease of Premises. Landlord leases to Tenant, and Tenant leases from Landlord the
Premises upon the terms specified in this Lease.
b. Acceptance of Premises. Except as specified elsewhere in this Lease , Landlord makes
no representations o r warranties to Tenant regarding the Premises, includ ing the structural
condition of the Premises or the condition of all mechanical, electrical, and other systems on the
Premises. Except for any tenant improvements to be completed by Landlord as described on
attached Exhibit 8 (the "Landlord's Work"), Tenant shall be responsible for performing any work
necessary to bring the Premises into a condition satisfactory to Tenant. By signing this Lease ,
Tenant acknowledges that it has had an adequate opportunity to investigate the Premises;
acknowledges responsibility for making any corrections, alterations and repairs to the Premises
(other than the Landlord 's Work); and acknowledges that the time needed to complete any such
items shall not delay the Commencement Date.
c. Tenant Improvements. Attached Exhibit 8 sets forth all Tenant's Work, if any, and all
tenant improvements to be completed by Tenant (the "Tenant's Work"), if any, that will be
performed on the Premises. Responsibility for design, payment and performance of all such work
shall be as set forth on attached Exhibit e. If Tenant fails to notify Landlord of any defects in the
Landlord's Work within thirty (30) days of delivery of possession to Tenant, Tenant shall be
deemed to have accepted the Premises in their then condit!on. If Tenant d iscovers any major
defects in the Landlord's Work during this 30-day period that would prevent Tenant from using the
Prem ises for the Permitted Use, Tenant shall notify Landlord in writing and the Commencement
Date shall be delayed until after Landlord has notified Tenant that Landlord has corrected the
major defects and Tenant has had five (5) days to inspect and approve the Premises. The
Commencement Date shall not be delayed if Tenant's inspection reveals minor defects in the
Landlord 's Work that will not prevent Tenant from using the Premises for the Permitted Use.
Tenant shall prepare a punch list of all minor defects in Landlord's Work and provide the punch
list to Landlord, which Landlord shall promptly correct.
3. TERM. The term of this Lease shall commence on the Commencement Date specified in
Section 1, or on such earlier or later date as may be specified by notice delivered by Landlord to Tenant
advising Tenant that the Premises are ready for possession and specifying the Commencement Date ,
which shall not be less than __ days (thirty (30) days if not filled in) following the date of such notice.
a. Early Possession. If Landlord permits Tenant to possess or occupy the Premises prior
to the Commencement Date specified in Section 1, then such early occupancy shall not advance
the Commencement Date or the Termination Date set forth in Section 1, but otherwise all terms
and cond itions of this Lease shall nevertheless apply during the period of early occupancy before
the Commencement Date.
b. Delayed Possession. Landlord shall act diligently to make the Premises available to
Tenant; provided , however, neither Landlord nor any agent or employee of Landlord shall be
Neil Walter Company
550 S Michigan St
Seattle , WA 98108
Phone: 206~787-1800
r~EIL WALTER Fax: 206-787-1479
COlo;r>ANY
LEASE AGREEMENT
(Single Tenant For Entire Parcel -NNN)
C C:>.:1narclai Brokers ~
Association 2011
A!..l RfGiiTS RESERVEC
CBA Form S7 -N~N
S!ng!e Tanen! NNN Lease
Rev. 312C1~
Page 3 o!33
liable for any damage or loss due to Landlord's inability or failure to del iver possession of th e
Premises to Tenant as provided in this Lease. If possession is delayed , the Commencement
Date set forth in Section 1 shall also be delayed. fn addition, the Termination Date set forth in
Section 1 shall be modified so that the length of the Lease term rema ins the same. If Landlord
does not deliver possession of the Premises to Tenant within __ days (sixty (60) days if not
filled in) after the Commencement Date specified in Section 1, Tenant may elect to cancel this
Lease by giving written notice to Landlord within ten {10) days after such time period ends. If
Tenant gives such notice of cancellation, the Lease shall be cancelled , all prepaid rent and
security deposits shall be refunded to Tenant, and neither Landlord nor Tenant shall have any
further obligations to the other. The first "Lease year" shall commence on the Commencement
Date and shall end on the date which is twelve (12) months from the end of the month in w hich
the Commencement Date occurs . Each successive Lease yea r during the i nitial term and any
extension terms shall be twelve (12) months , commencing on the first day following the end of the
preceding Lease year. To the extent that the tenant improvements are not comp leted in t ime for
the Tenant to occupy or take possession of the Premises on the Commencement Date due to the
failure of Tenant to fulfill any of its obligations under this Lease, the Lease sha ll nevertheless
commence on the Commencement Date set forth in Section 1.
4. RENT.
a. Payment of Rent. Tenant shall pay Landlord without notice, demand, deduction, or
offset, in lawful money of the United States, the monthly Base Rent stated in Section 1 in
advance on or before the first day of each month during the Lease term beginning on (c heck
one): ~ the Commencement Date, or D _ (if no date specified, then on the
Commencement Date), and shall also pay any other additional payments due to Land lord
("Additiona l Rent"), including Operating Costs (collectively the "Rent") when required under this
Lease. Payments for any partial month at the beg inning or end of the Lease shall be prorated.
All payments due to Landlord under this Lease, including late fees and interest, shall also
constitute Additional Rent, and upon failure of Tenant to pay any such costs , charges or
expenses, Landlord shall have the same rights and remedies as otherwise provided in th is Lease
for the failure of Ten ant to pay rent.
b. Triple Net Lease. This Lease is what is commonly called a "Net, Net, Net" or "tr iple-net"
Lease, which means that, except as otherwise expressly provided herein, Landlord shall receive
all Base Rent free and clear of any and all other impositions, taxes, liens , charges or expenses of
any nature whatsoever in connection with the ownership and operation of the Premises. In
addition to Base Rent, Tenant sha!l pay to the parties respectively entitled thereto, or satisfy
directly, all Additional Rent and other impositions, insu!"ance premiums, repai r and maintenance
charges, and any other charges, costs , obligations, liabilities, requirements , and expenses,
which arise with regard to the Premises or may be contemplated under any other provision of the
Lease during its term , except for costs and expenses expressly made the obligat io n of Landlord
in this Lease.
Neil Walter Company
550 S Michigan St
Seattle, WA 98108
Phone:206-787-1800
NEIL WALTE~ Fax: 206-787-1479
C::l ~~t>.~N Y
LEASE AGREEMENT
(Single Tenant For Entire Parcel -NNN)
C Comrr.ercial Brokers ~
AsSOCia tion 20 11
All RIGif'"S RESERVED
CeA F01T11 ST-NNN
S!ngle Te1arn ,..NN Lea se
Rev. 312~·. 1
Pa!;e4 :Jf33
c. Late Charges; Default Interest. If any sums payable by Tenant to Landlord under this
Lease are not received within five (5) business days after the ir due date , Tenant shall pay
Landlord an amount equal to the greater of $100 or five percent (5%) of the deli nquent amount for
the cost of collecting and handling such late payment in addition to the amount due and as
Additional Rent. All delinquent sums payable by Tenant to Landlord and not paid w ithi n five {5)
business days after their due date shall, at Landlord's option , bear interest at the rate of fifteen
percent (15%) per annum, or the highest rate of interest allowable by law, wh ichever is less (the
"Default Rate"). Interest on all delinquent amounts shall be ca lculated from !he original due date
to the date of paymen t.
d . Less Than Full Payment. Landlord's acceptance of less than the full amount of any
payment due from Tenant shall not be deemed an accord and satisfaction or compromise of such
payment unless Land lord specifically consents in writing to payment of such lesser sum as an
accord and satisfaction or compromise of the amount which Landlord claim s. Any port ion that
remains to be paid by Tenant shall be subject to the late charges and default interest provis ions
of this Section 4.
5. SECURITY DEPOSIT. Upon execution of th is Lease, Tenant shall del iver to Landlord the
security deposit specified in Section 1 above. Landlord's obligations with respect to the security deposit
are those of a debtor and not of a trustee, and Landlord may commingle the secu rity deposit with its ot her
funds. If Tenant breaches any covenant or condition of this Lease, includ ing b ut not limited to the
payment of Rent, Landlord may apply all or any part of the security deposit to the payment of any sum in
default and any damage suffered by Landlord as a result of Tenant's breach. Tenant ackn owledges ,
however, that the security deposit shall not be considered as a measure of Tenant's damages in case of
default by Tenant , and any payment to Landlord from the security deposit shall not be construed as a
payment of liquidated damages for Tenant's default. If Landlord applies the security deposit as
contemplated by this Section , Tenant shall, within five (5) days after written demand therefore by
Landlord, deposit with Landlord the amount so applied. If Tenant comp lies with a ll of the covenants an d
conditions of this Lease throughout the Lease term , the security deposit shall be repaid to Tenant w ithout
interest within thirty (30) days after the surrender of the Premises by Tenant in the cond ition required
hereunder by Section 11 of th is Lease. IN THE EVENT THAT TENANT EXERCISES THE OPTION TO
PURCHASE, THE SECURITY DEPOSIT SHALL BE APPLICABLE TO THE PURCHASE PRICE.
6. USES. The Premises shall be used only for the Permitted Use specified in Sect ion 1 above,
and for no other business or purpose without the prior written consent of Landlord . No act shall be done
on or around the Premises that is unlawful or that will increase the existing rate of insurance on t he
Premises, or cause the cancellation of any insurance on the Premises. Tenant sha ll not commit or allow
to be committed any waste upon the Premises , or any public or private nuisance. Tenant shall not do or
permit anything to be done on the Premises which will obstruct or interfere w it h the rig hts of other tenants
or occupants of the Premises, or their employees, officers , agents, servants, con tractors, customers ,
clients, visitors, guests , or other licensees or invitees or to injure or annoy such persons.
7. COMPLIANCE WITH LAWS. Tenant shall not cause or permit the Premises to be used in
any way which violates any law, ordinance, or governmental regulation or order. Landlord rep resents to
Tenant that, as of the Commencement Date, to Landlord's knowledge, but without duty of investigation,
and with the exception of any Tenant 's Work, the Premises comply with all applicable laws, rules,
regulations, or orders, includ ing without limitation , the Americans With Disabilities A ct, if applicable, and
Landlord shall be responsible to promptly cure at its sole cost any noncompliance which existed on the
Commencement Date. Tenant shall be responsible for complying with all laws applicable to the Premises
Neil Walter Company
550 S Michigan St
Seattle, WA 98108
Phone:206-787-1800
NEIL WALTER Fax: 206-787-1479
C ;; :-: P A 1': Y
LEASE AGREEMENT
(Single Tenant For Entire Parcel -NNN)
C Ccn::1erclal Brol<eB ~
Assoclatlor. 20~ 1
ALL R!GH-s RESERVED
CBA Fonn ST -NNN
Single Te1a:1: .'1111:.'11 Lease
Rev. 3/2011
Page 5 of33
as a result of the Permitted Use, and Tenant shall be responsible for making any changes or alterations
as may be required by law, rule, regulation , or order for Tenant's Permitted Use at its sole cost and
expense. Otherwise, if changes or alterations are required by rule, law, regulation, or order unrelated to
the Permitted Use, Landlord shall make changes and alterations at its expense.
8. UTILITIES. Landlord shall not be responsibte for provid ing any utilities to the Premises and
shall not be liable for any loss, injury or damage to person or property caused by or resulting from any
variation , interruption , or failure of utilities due to any cause whatsoever, and rent shall not abate as a
result thereof, except to the extent due to the intentional misconduct or gross negligence of Landlord.
Tenant shall be responsible for determining whether available utilities and their capacities will meet
Tenant's needs. Tenant shall install and connect , if necessary, and directly pay for all water, sewer, gas,
janitorial , electricity, garbage removal, heat, telephone, and other utilities and services used by Tenant on
the Premises during the term , whether or not such services are billed directly to Tenant. Tenant will also
procure, or cause to be procured , without cost to Landlord , all necessary permits , licenses or other
authorizations required for the lawful and proper installation, maintenance, replacement, and removal on
or from the Premises of wires, pipes, conduits, tubes, and other equipment and app fi ances for use in
supplying all utilities or services to the Premises. Landlord, upon request of Tenant, and at the sole
expense and liability of Tenant, shall join with Tenant in any reasonable applications required for
obtaining or continuing such utilities or services.
9. TAXES. Tenant shall pay all Taxes (defined below) applicable to the Premises during the
Lease term . All payments for Taxes shall be made at least ten (10) days prior to their due date. Tenant
shall promptly furnish Landlord with satisfactory evidence that Taxes have been pa id. If any Taxes paid
by Tenant cover any period of time before or after the expiration of the term, Tenant's share of those
Taxes paid will be prorated to cover only the period of time w ithin the tax f iscal year during which this
Lease was in effect, and Landlord shall promptly reimburse or credit Tenant to the extent required. If
Tenant fails to timely pay any Taxes, Landlord may pay them, and Tenant shall repay such amount to
Landlord upon demand. Landlord may also elect to pay all such Taxes directly to the appropriate taxing
authoritylies and receive reimbursement thereof from Tenant within ten (10} days after invoice, either of
the full amount paid or at Landlord's election in equal monthly installments.
The term "Taxes" shall mean: (i) any form of tax or assessment imposed on the Premises by any
authority, including any city, county, state or federal government, or any improvement d istrict, as against
any legal or equitable interest of Landlord or Tenant in the Premises o r in the real property of which the
Premises are a part, or against rent paid for leasing the Premises; and (iO any form of personal property
tax or assessment imposed on any personal property, fixtures, furn itu re , tenant improvements,
equipment, inventory, or other items, and all replacements, improvements, and additions to them , located
on the Premises, whether owned by Landlord or Tenant. "Taxes· shall exclude any net income tax
imposed on Landlord for income that Landlord receives under this Lease.
Tenant may, upon reasonable prior notice to Landlord, contest the amount or val idity, in whole or in part,
of any Taxes at tts sole expense, only after paying such Taxes or posting such security as Landlord may
reasonably require in order to protect the Premises against loss or forfeiture. Upon the termination of any
such proceedings , Tenant shall pay the amount of such Taxes or part of such Taxes as finally
determined, together with any costs, fees, interest penalties, or other related liabilities. Landlord shall
reasonably cooperate with Tenant in contesting any Taxes, provided Landlord incurs no expense or
liability in doing so.
Neil Walter Company
550 S Michiga n St
Seattle, WA 98108
Phone: 206-787-1800
~1!51L WAI.TER Fax: 206-787 -1479
cc.;~>tt,N ~
LEASE AGREEMENT
(Single Tenant For Entire Parcel-NNN)
0 Commer;ia! B:-okers CBr"
Auocletien 2011
ALL RIGHTS ~ESERVED
CBA Form ST-NNN
S in!lle T enar:t NNf\ ~aase
Rev. 3/201 1
Page 6 c!33
10. ALTERATIONS. Tenant may make alte rations, add iti ons or improvements to t he Premises ,
including any Tenant Work identified on attached Exh ibit B (the "A lterations"), on ly with the prior written
consent of Landlord, which , witf:l respest to AlteratioAs not a#esting tf:le strt~st~ral soA'lpoRents of tf:le
PreFAises er utility systeA'\s tl:1erein , shall not be unreasonably withheld, conditioned , or delayed. Landlord
sha ll ha ve th irty (30) days in wh ich to respond to Tenant's request for any A lterations so long as such
req uest includes the name of Tenant's contractors and reasonably detailed plans and spec ifications
therefore. The term "Alterations" shall not include the installation of shelves , movable partit ions , Tenant's
equipment, and trade f ixtures that may be performed without damaging existi ng imp rovemen ts or t he
structural integ rity of the Premises and La ndlord's consent shall not be required for Tena nt 's installation
or removal of t hose items. TENANT SHALL BE PERMITIED TO ·CONST RUCT IMPROVEMENTS ,
DEMOLISH OR ALTER EXISTING IMPROVEMENTS, AND OTHERWISE ALTER THE PRE MISES AS
NECESSARY FOR TENANT'S USE. LANDLORD'S CONSENT TO SUCH A LTERATIONS SHALL NOT
BE WITHHELD SO LONG AS PROPER BUIDLING PERMITS ARE OBTAINED AND WORK
COMPLETED TO APPLICABLE CODE. Tenant shall perform all work at Tenant's expense and in
compliance with all applicable laws and shall complete all Alterations in accorda nce with plans and
specifications approved by Landlord , using contractors approved by Landlord. Tena nt shall pay, when
due , or furnish a bond for pa ymen t (as set forth in Section 18) all claims for labor or materials furnished to
or for Tenant at or for use in the Prem ises , wh ich claims are or may be secured by any mechanics' or
materialmens' liens against the Premises or any interest therein. Tena nt shall remove all Alterations at
the end of the Lease term unless Landlord conditioned its consent u pon Tenant leaving a specified
Alteration at the Premises , in which case Tenant shall not remove such Alteration, and it shall become
Land lord 's property. Tenant shall immed iat ely repai r any damage to the Premises caused by removal of
Alterations .
11. REPAIRS AND MAINTENANCE; SURRENDER. Tenant shall , at its sole expense, maintain
the entire Premises includ ing wi thout limitation the roof surface and norm al repairs and maintenance to all
heating , ventilation , and air conditioning ("HVAC") equ ipment at the Premises , in good condition and
promptly make all repairs and replacements, whether structural or non -str uctural , necessary to keep the
Prem ises in safe operating condition , including all utilities and other systems servi ng th e Prem ises , but
excluding t he roo f structure , subfl oor, foundation , exterior walls, and capital repairs and replacem ents to
the HVAC system (collectively, "Landlord's Repa ir Items"), which Landlord shall maintain in good
condition and repa ir at Landlord's expense, provided that Tenant shall not damage any Land lord 's Repair
Items and shall promptly repair any damage or injury done thereto caused by Tenant or its employees ,
officers. agents, servants , co ntractors, c ustomers, clients, vis itors, guests , or other li censees or invitees .
Notwithstanding anything in t his Section to the contrary, Tenant shall not be respons ible for any repairs to
the Premises made necessary by the negligence or willful miscond uct of Land lord or its employees ,
officers, agents , servants , contractors , customers , clients, visitors , guests, or other licensees or invitees
t herein. If Tenant fails to perform Tenant's obligat ions under this Section , Landlord may at Land l ord 's
option enter upon the Prem ises after ten (10) days ' pri or notice to Te nant and put t he same in good order,
cond ition and repair and the cost thereof together with interest the reon at the default rate set forth in
Section 4 shall be due and payable as Additional Rent to Landlord toget her w ith Tenan t's next in stallment
of Base Rent. Upon expirat ion of the Lease term , whether by lapse of time or ot herw ise, Tenant s hall
promptly and peacefully surrender the Premises , togeth er with all k eys, to Landlord in as good cond ition
as when received by Tenant from Landlord or as thereafte r improve d, reasonable wear and tear and
insured casua lty excepted.
12. ACCESS AND RIGHT OF ENTRY. After twenty-four (24) hou rs' notice f rom La ndlord (except
in cases of emergency, when no notice shall be required), Tenant sha ll permit Landlord and its agents ,
employees and contractors to enter the Premises at all reasonable times to ma ke repairs, inspe ct io ns,
Nell Walter Company
550 S Michigan St
Seattle, WA 98108
Phone: 206-787-1800
"~ElL WA!.TER Fax: 206-787-1479
C 0'1 ";-,J-!y
LEASE AGREEMENT
(Single Tenant For Entire Parcel-NNN)
Cl Commer::ial Brokers CIW"
AsscC:Stlon 201 1
U R!G'iTS RESERVED
CBA Form ST-NJ<;N
Slnule Te11ar.t \INN Loase
Rev. 312011
cage 7 0(33
alterations or improvements, provided that Landlord shall use reasonable efforts to minimize interference
with Tenant's use and enjoyment of the Premises. This Section shall not impose any repair or other
obligation upon Landlord not expressly stated elsewhere in this Lease. After reasonab le notice to Tenant,
Landlord shall have the right to enter the Premises for the purpose of (a) showing the Premises to
prospect ive purchasers or lenders at any t ime , and to prospective tenants within one hundred eighty
(180) days prior to the expiration or sooner termination of the Lease term; and, (b) for posting "for lease"
signs within one hundred eighty (180) days prior to the expiration or sooner termination of the Lease term.
13. SIGNAGE . Tenant. shall obtain Landlord 's written consent as to size, location, materials,
method of attachment, and appearance, before installing any signs upon the Premises. Tenant shall
install any approve~ signage at Tenant's sole expense and in compliance with all applicable laws. Tenant
shall not damage or deface the Prem ises in installing or removing s ignage and shall repair any injury or
damage to the Premises caused by such installation or removal.
14. DESTRUCTION OR CONDEMNATION.
a. Damage and Repair. If the Premises are partially damaged but not rendered
untenantable , by fire or other insured casualty, then Landlord shall diligently restore t he Prem ises
to the extent required below and this Lease shall not terminate. The Premises shall not be
deemed untenantable if twenty-five percent (25%) or less of the Premises are damaged .
Landlord shall have no obligation to restore the Prem ises if insurance proceeds are not available
to pay the entire cost of such restoration. If insurance proceeds are available to Landlord but are
not sufficient to pay the entire cost of restoring the Prem ises , or if Landlord 's lender shall not
permit all or any part of the insurance proceeds to be appl ied toward restoration, then Landlo rd
may elect to terminate this Lease and keep the insurance proceeds , by notifyi ng Tenant within
sixty (60) days of the date of such casualty.
If the Premises are entirely destroyed, or partially damaged and rendered untenantable , by fire or
other casualty , Landlord may, at its option: (a) terminate this Lease as provided herein, or (b)
restore the Premises to their previous condition to the extent required below; provided, however,
if such casualty event occurs during the last six (6) months of the Lease term (after considering
any option to extend the term timely exercised by Tenant) then e ither Tenant or Landlord may
elect to terminate the Lease. If, within sixty {60) days after receipt by Landlord f rom Tenant of
written notice that Tenant deems the Premises untenantable, Landlord fails to notify Tenant of its
election to restore the Premises, or if Landlord is unable to restore the Premises within six {6)
months of the date of the casualty event, then Tenant may elect to te rminate t he Lease upon
twenty (20) days' written notice to Landlord unless Landlord , within such twenty (20) day per iod ,
notifies Tenant that it will in fact restore the Premises or actually completes such restoration work
to the extent required below, as applicable.
If Landlord restores the Premises under this Section 14, Landlord shall p roceed with reasonab le
diligence to complete the work , and the base monthly rent shall be abated in the same propo rti on
as the untenantab le portion of the Premises bears to the whole Prem ises , provided that the re
shall be a rent abatement only if the damage or destruction of the Premises d id not result from, or
was not contributed to directly or indirectly by the act, fault or neglect of Tenant, or Tenant's
employees, officers , agents , servants , contractors, customers, clients , visitors , guests, or othe r
licensees or invitees. No damages, compensation or claim shall be payable by Landlord for
inconvenience, loss of business or annoyance directly, incidentally or consequentially arising from
any repair or restoration of any portion of the Premises. Landlord shall have no obligat ion to
Neil Walter Company
550 S Michigan St
Seattle, WA 98108
Phone: 206-787-1800
;>!Ell Wl\LTiR Fax: 206-787-1479
cc:-o ·•A N Y
LEASE AGREEMENT
{Single Tenant For Entire Parcel -NNN)
C>Commercial B~e~ ~ Assoc:ation 2011
All RIGHTS RESERV"::.O
:;BA ":~~ ST -NNN
S'ng:e Tens~ NNN '-ease
Rev. 3.'2011
Page 8 of33
carry insurance of any kind for the protection of Tenant or any alterations or improvements pa id
for by Tenant; any Tenant Improvements identified in Exhibit C (regardless of who may have
completed them); Tenant's furniture; or on any fixtures, equipment, improvements or
appurtenances of Tenant under this Lease, and Landlord's restoration obl igations hereunde r shall
not include any obligation to repair any damage thereto or replace the same.
b. Condemnation. If the Premises are made untenantable by eminent doma in, or
conveyed under a threat of condemnation , this Lease shall automatically terminate as of the
earlier of the date title vests in the condemning authority or the condemning authority first has
possession of the Premises and all Rents and other payments shall be paid to that date. If the
condemning authority takes a portion of the Premises that does not render the Prem ises
untenantable, then this Lease shall continue in full force and effect and the base monthly rent
shall be equitably reduced based on the proportion by which the floor area of any structures is
reduced. The reduction in Rent shall be effective on the earlier of the date the condemning
authority first has possession of such portion or title vests in the condemning auth ority. Landlord
shall be entitled to the entire award from the condemning aut hority attributable to the value of the
Premises and Tenant shall make no claim for the value of its leasehold. Tenant shall be
permitted to make a separate claim against the condemn ing authority for moving expenses ,
provided that in no event shall Tenant's claim reduce Landlord's award.
15. INSURANCE.
a. Tenant's Liability Insurance_ During the Lease term, Tenant shall pay for and maintain
commercia! general liability insurance with broad form property damage and contractua l liabil ity
endorsements. This policy shall name Landlord , its property manager (if any}, and other parties
designated by Landlord as additional insureds using an endorsement form acceptable to
Landlord, and shall insure Tenant's activities and those of Tenant's employees, officers , agents ,
servants, contractors, customers , clients , visitors, guests, or other licensees or inv itees with
respect to the Premises against loss , damage or liability for personal injury or bodily injury
(including death) cr loss or damage to property with a comb ined s ingle limit of not less than
$2,000,000, and a deductible of not more than $10,000. Tenant's insurance will be prim ary and
noncontributory with any liability insurance carried by Landlo rd. Landlord may also require
Tenant to obtain and maintain business income coverage for at least six (6) months, business
auto liability coverage, and , if applicable to Tenant's Permitted Use, liquor liability insurance
and/or warehouseman's coverage.
b. Tenant's Property Insurance. During the Lease term, Tenant shall pay for and maintain
special form clauses of loss coverage property insurance (with coverage for earthquake if
required by Landlord 's lender and, if the Premises are s ituated in a flood plain , flood damage) for
all of Tenant's personal property, fixtures and equipment in the amount of their full replacement
value, with a deductible of not more than $10,000.
Neil Walter Company
550 S Michigan St
Seattle , WA 98108
Phone:206-787-1800
NEIL WALTER Fax: 2C6-787-1479
C~'t ~I'.N Y
LEASE AGREEMENT
(Single Tenant For Entire Parcer-NNN)
C Commercial Brokers CD('
Associatior' 20 1 ~
ALL RIGhiS RESERVED
CBA O'Of1T1 ST-~NN
Single Tena~t NNN Lease
Rev. 31201 1
Pac e 9::t33
c . Miscellaneous. Tenant's insurance required under this Sect ion shall be w ith com panies
rated A-Nil or better in Best's Insurance Gu ide, and which are admitted in the state in w hich the
Premises are located . No insurance policy shall be cancelled or reduced in coverage and each
such policy shall provide that it is not subject to cancellation or a reduction in coverage except
afte r thirty (30) days prior written notice to Landlord. Tenant shall deliver to Landlord upon
commencement of the Lease and from time to time thereafter , copies of the insurance policies or
evidence of insurance and copies of endorsements required by this Section . In no even t sha ll the
limits of such policies be considered as limiting the liability of Tenant under this Lease. If Tenant
fails to acquire or maintain any insurance or provide any policy or evidence of insurance requi red
by th is Section, and such failure continues for three (3) days after notice f rom Landlord , Landlord
may, but shall not be required to, obtain such insurance for Landlord 's benefit and Tena nt sha ll
reimburse Landlord for the costs of such insurance upon demand . Such amounts shall be
Additional Rent payable by Tenant hereunder and in the event of non-payment thereof, Landlord
shan have the same ri ghts and remed ies with respect to such non-payment as it has with respect
to any other non-payment of rent hereunder.
d. Waiver of Subrogation. Landlord and Tenant hereby re lease each other and any other
tenant, their agents or employees, from responsibility for, and waive t heir entire cla im of recovery
for any loss or damage arising from any cause covered by property insurance requ ired to be
carried or otherwise carried by each of them. Each party sha ll p rovide notice to the property
insurance carrier or carriers of this mutual waiver of subrogation, and shall cause its respective
property insu rance ca rr iers to waive all rights of subrogat ion against the ot her. Th is waiver s hall
not apply to the extent of the deductible amounts to any such prope rty policies or to the extent of
liabilities exceeding the limits of such policies.
16. INDEMNIFICATION.
a. Indemnification by Tenant. Tenant shall defend, indemn ify, and hold Landlor d and its
property manager, if any, harmless against all liabilities, damages, costs, and expenses , including
attorneys ' fees , for personal injury, bodily injury (including death} or p roperty damage arising from
any negligent or wrongful act or omission of Tenant or Tena nt's employees, officers , agents,
servants , contractors, customers, clients, visitors, guests, or other l icensees or invitees on or
around the Premises , or arising from any breach of this Lease by Tenant. T enant shall use legal
counsel reasonably acceptable to Landlord in defense of any action within Tenant's defense
obligation.
b. Indemnification by Landlord. Landlord shall defend , indemnify and hold Tenant
harmless against all liabilities, damages , costs, and expenses , including attorneys' fees , f or
personal inj ury, bodily injury (including death) or property damage arising from a ny negligent or
wrongful act or omission of Landlord or Landlord 's employees , officers, agents , servants,
contractors , customers, clients, visitors, guests, or other licensees o r invitees on or arou nd the
Prem ises, or arising from any breach of this Lease by Landlord. Land lord shall use legal counsel
reasonably acceptab le t o Tenant in defense of any action with in Land lord's defense obligation.
c. Waiver of Immunity. Landlord and Tenant each specifically and expressly waive any
immunity that each may be granted under the Washington State Industrial Insurance Act, Title 5 1
RCW. Neither party's indemnity obligations under this Lease shall be limited by any limitation on
t he amount or type of damages, compensation, or benefits payable to or for any th ird party under
the Worker Compensation Acts, Disability Benefit Acts or other employee benefit acts.
Neil Walter Company
550 S Michigan St
Seattle, WA 98108
Phone: 206-787-1800
I'll ElL V~A~T~::t Fax: 206-787-1479
.::: :: X i" ~ N Y
LEASE AGREEMENT
(Single Tenant For Entire Parcel -NNN)
ICI Commercia' Bro~ers ~
Associa~or. 2011
All 'l1Gh1"S RESERVED
CBA .=orm ST-NNN
Single Te1a~t NNN Lease
Rev, 3.'201<
?age1 0~33
d . Exemption of Landlord from Liability. Except to the extent of cla ims ar ising out of
Landlord 's gross negligence or intentional misconduct, Landlord shall not be liab le for injury to
Tenant's business or assets or any loss of income therefrom or for damage to any property of
Tenant or of its employees, officers, agents, servants, con tractors, customers, clie nts, visitors ,
guests , or other licensees or invitees, or any other person in or about the Prem ises.
e. Survival. The provisions of this Section 16 shall survive exp iration or term ination of this
Lease.
17. ASSIGNMENT AND SUBLETTING. Tenant shall not assign , s ublet, mortgage, encumber or
otherwise transfer any interest in this Lease (collectively referred to as a "Transfe r") or any part of the
Premises, without first obtaining Landlord's written consent which shall no t be unreasonably withheld ,
conditioned, or delayed. No Transfer shall relieve Tenant of any liability unde r this Lease notwithstand ing
Landlord's consent to such Transfer. Consent to any Transfer shall not operate as a waiver of the
necessity for Landlord's consent to any subsequent Transfer. In connection with each request for
consent to a Transfer, Tenant shall pay the reasonable cost of processing same, including attorneys '
fees, upon demand of Landlord , up to a maximum of $1 ,250.
If Tenant is a partnership, limited liability company, corporation, or other entity, any transfer of this Lease
by merger, consolidation, redemption or liquidation , or any change in the own ership of, or power to vote,
which singularly or collectively represents a majority of the beneficial interest in Tenant , shall constitute a
Transfer under th is Section .
As a condition to Landlord 's approval, if given, any potential assignee or sublessee oth erwise approved
by Landlo rd shall assume all obligations of Tenant under this Lease and shall be join tly and severally
liable with Tenant and any guarantor, if required, for the payment of Re nt and perform ance of all terms of
this Lease. In connection with any Transfer, Tenant shall provide Landlord w ith copies of all
assignments, subleases and assumption agreement or documents.
18. LIENS. Tenant is not authorized to subject the Landlord's assets to any liens or cla im s of lien.
Tenant shall keep the Premises free from any liens created by or through Tenant. Tenant shall indemnify
and hold Landlord harmless from liability for any such liens including, w ithou t limitation , liens arising from
any Alterations. If a lien is filed against the Premises by any person cla iming by, th rough or under
Tenant, Tenant shall , within 10 days after La~dlord 's demand , at Tenant's expense, either remove the
lien or furnish to Landlord a bond in form and amount and issued by a surety satisfactory to Landlord ,
indemnifying Landlord and the Premises against all liabilities, costs and expenses, including attorneys'
fees , which Landlord could reasonably incur as a result of such iien.
19. DEFAULT. The following occurrences shall each constitute a default by Tenant (an "Event of
Default):
a. Fa ilure To Pay. Failure by Tenant to pay any sum, including Rent, due under this Lease
following five (5) days' notice from Landlord of the failure to pay.
b. Vacation/Abandonment. Vacation by Tenant of the P remises (defined as an absence for
at least fifteen (15) consecutive days without prior notice to Landlord), or abandonment of the
Premises (defined as an absence of frve (5) days or more while Tenant is in breach of some other
term of this Lease). Tenant's vacation or abandonment of the Premises shall not be subj ect to
any notice or right to cure.
Neil Walter Company
550 S Michigan St
Seattle, WA 98108
Phone: 206-787-1800
WElL Wt l LTE[:-1 Fax: 206-787-1479
C"::;',:-f !'ANY
LEASE AGREEMENT
(Single Tenant For Entire Parcel -NNN )
C Comme:cial Brokers CB('
Aaso::i lltior. 201 1
AW. RIGHTS ~ESE/WED
CBA "'"rr:l ST -~NN
Sir.gle Ter!80t NNN L ease
Rev. 3/20 11
Pa Ge 1 ' 0133
c. Insolvency. Tenant's insolvency or bankruptcy (whether voluntary or involuntary}, or
appointment of a receiver, assignee or other liquidating officer for Tenant's business ; provided ,
however, that in the event of any involuntary bankruptcy or othe r insolvency proceeding , the
existence of such proceeding shall constitute an Event of Default only if su ch proceedi ng is not
dismissed or vacated wi thin sixty (60) days after its institution or commencement.
d. Levy or Execution. The taking of Tenant's interest in this Lease or the Premises, or any
part thereof, by execution or other process of law directed against Tenant, or attachment of
Tenant's interest in this Lease by any creditor of Tenant, if such attachment is not discharged
w ithin fifteen (15} days afte r being levied.
e. Other Non-Monetary Defaults. The breach by Tenant of any agreem en t, term or
covenant of this Lease other than one requiring the payment of money and not otherwise
enumerated in this Section or elsewhere in this Lease, which breach co nti nues for a period of
thirty (30) days after notice by Landlord to Tenant of the breach.
f . Fa ilure to Take Possess ion. Failure by Tenant to take possession of the Premises on the
Commencement Date or failure by Tenant to commence any Tenant's Work in a ti mely fash ion .
Landlord shall not be in default unless Landlord fails to perform obligations required of Landlord within a
reasonable time, but in no event less than thirty (30) days after notice by Tenant to Landlord . If Landlord
fails to cure any such default w ithin the allotted time , Tenant's sole remedy shall be to seek act ual money
damages (but not consequential or pun itive damages) for loss arising from Landlord's failure to discharge
its obligations under this Lease. Nothing herein contained shall relieve Landlo rd fr om its du ty to perform
of any of its obligations to the standard prescribed in t his Lease.
Any notice periods granted herein shall be deemed to run concurrently with and not i n add ition to any
default notice periods required by law.
20 . REMEDIES . Landlord shall have the following remedies upon an Event of Default. Landlord's
rights and remed ies under this Lease shall be cumulat ive, and none shall exclude any other rig ht or
remedy allowed by law.
a. Termination of Lease. Landlord may terminate Tenant's inte rest under the Lease, but no
act by Landlord other than notice of term ination from Land lord t o Tenant shall termin ate t his
Lease. The Lease shall term inate on the date specified in the notice of termination. Upon
termination of this Lease, Tenant will remain liable to Landlord for damages in an amount equa ~ to
the Rent and other sums that woutd have been owing by Tenant u nder th is Lease for the balance
of the Lease term, less the net proceeds, if any, of any reletting of the Prem ises by Landlord
subsequent to the termination, after deducting all of Landlord 's Reletting Expenses (as defined
below). Landlord shall be entit~ed to either collect damages from Tenant month ~y on the days on
which rent or other amounts would have been payable under the Lease, or alternatively , Land lord
may accelerate Tenant's obligations unde r the Lease and recover from Tenant: (i } unpaid rent
which had been earned at the time of term ination; (ii) the amount by which the unpaid rent which
would have been earned after termination until the time of award exceeds the am ount of rent loss
that Tenant proves could reasonably have been avoided; (iii) the amount by w hich the unpa id rent
for the balance of the term of the Lease after the time of award exceeds the amount of rent loss
that Tenant proves could reasonably be avoided (discounting such amount by the discount rate of
the Federal Reserve Bank of San Francisco at the time of the award, plus 1 %); and (i v) any ot her
amount necessary to compensate Landlord for all the detriment proximately caused by Tenant's
Neil Walter Company
550 S Michigan St
Seattle , WA 98108
Phone: 206-787-1800
~!ElL Vi A LTER Fax: 206-787-1479
C :;:-tPANY
LEASE AGREEMENT
(Single Tenant For Entire Parcel -NNN)
c Comrr.erc:al Broke~ ~
Assocla~on 2011
AU. R:GHTS RESERVE D
CBA .-or~ ST-NN N
Single Te.,a~t 11:.,.... Lease
Rev . 3120~1
Page 12 ol33
failure to perform its obligations under the Lease, or which in the ordinary course would be likely
to result from the Event of Default, including without limitation Reletting Expenses described in
Section 20(b) below.
b. Re-Entry and Reletting . Landlord may continue th is Lease in full force and effect, and
without demand or notice, re-enter and take possession of the Premises or any part thereof,
expel the Tenant from the Premises and anyone claiming through or under the Tenant, and
remove the personal property of either. Landlord may relet the Prem ises , or any part of them, in
Landlord's or Tenant's name for the account of Tenant, for such period of time and at such other
terms and conditions as Landlord, in its discretion, may determine. Landlord may collect and
receive the rents for the Premises. To the fullest extent permitted by law, the proceeds of any
reletting shall be applied: first, to pay Landlord all Reletting Expenses (defined below); second, to
pay any indebtedness of Tenant to Landlord other than rent; th ird , to the rent due and unpaid
hereunder; and fourth, the residue, if any, shall be held by Landlord and applied in payment of
other or future obligations of Tenant to Landlord as the same may become due and payable, and
Tenant shall not be entitled to receive any portion of such revenue. Re-entry or taking
possession of the Premises by Landlord under this Section shall not be construed as an election
on Landlord's part to terminate this Lease , unless a notice of termination is given to Tenant.
Landlord reserves the right following any re-entry or reletting , or both , under this Section to
exercise its right to terminate the Lease. Tenant will pay Landlord the Rent and other sums which
would be payable under this Lease if repossession had not occurred, less the net p roceeds , if
any, after reletting the Premises and after deducting Landlord's Reletting Expenses. "Reletting
Expenses" is defined to include all expenses incurred by Landlord in connection with reletting the
Premises, including without limitation, all repossession costs, br okerage commissions and costs
for securing new tenants, attorneys' fees, remodeling and repair costs , costs for removing
persons or property, costs for storing Tenant's property and equipment, and costs of tenant
improvements and rent concessions granted by Landlord to any new Tenant, prorated over the
life of the new lease.
c. Waiver of Redemption Rights. Tenant, for itself, and on behalf of any and all persons
claiming through or under Tenant, including creditors of all kinds, hereby waives and surrenders
all rights and privileges which they may have under any present or future law, to redeem the
Premises or to have a continuance of this Lease for the Lease term, or any extension thereof.
d. Nonpayment of Additional Rent. All costs which Tenant is obligated to pay to Landlord
pursuant to this Lease shall in the event of nonpayment be treated as if they were payments of
Rent, and Landlord shall have the same rights it has with respect to nonpayment of Rent.
e. Failure to Remove Property. If Tenant fails to remove any of its property from the
Premises at Landlord 's request following an uncured Event of Default , Landlord may , at its option,
remove and store the property at Tenant's expense and risk. If Tenant does not pay the storage
cost within five (5) days of Landlord's request, Landlord may, at its option, have any or all of such
property sold at public or private sale (and Landlord may bec:ome a purchaser at such sa!e), in
such manner as Landtord deems proper, without notice to Tenant. Landlord shall apply the
proceeds of such sale: (i) to the expense of such sale, including reasonable attorneys' fees
actually incurred; (ii) to the payment of the costs or charges for storing such property; (iii) to the
payment of any other sums of money which may then be or thereafter become due Landlord from
Tenant under any of the terms hereof; and (iv) the balance, if any , to Tenant. Nothing in this
Section shall limit Landlord's right to sell Tenant's personal property as permitted by law or to
foreclose Landlord's lien for unpaid rent.
Neil Walter Company
550 S Michigan St
Seattle, WA 98108
Phone:206-787-1800
~~aiL WALTER Fax: 206-787-1479
C~·\1 P f.NY
LEASE AGREEMENT
(Single Tenant For Entire Parcel-NNN)
C Commerc:al BroKers ~
Aaocclation 2011
All RiGHTS Ri:SE~Ir:.O
CBA Form ST-~SN
Single "';en ant N~N Lease
Rev. 3/2011
Page ~3 of33
21. MORTGAGE SUBORDINATION AND ATTORNMENT. This Lease shall automatically be
subordinate to any mortgage or deed of trust created by Landlord which is now existing or hereafter
placed upon the Premises including any advances, interest, modifications, renewals, replacements o r
extensions ("Landlord's Mortgage"). Tenant shall attorn to the holder of any Landlord's Mortgage or any
party acquiring the Premises at any sale or other proceeding under any Landlord's Mortgage provided .the
acquiring party assumes the obligations of Landlord under this Lease. Tenant shall promptly and in no
event later than fifteen (15) days after request execute, acknowledge and deliver documents which the
holder of any Landlord's Mortgage may reasonably require as further evidence of this subordin ation and
attornment. Notwithstanding the foregoing, Tenant's obligations under th is Section to subordinate in the
future are conditioned on the holder of each Landlord's Mortgage and each party acquiring the Premises
at any sale or other proceeding under any such Landlord's Mortgage not disturbing Tenant's occupancy
and other rights under this Lease, so long as no uncured Event of Default by Tenant exists.
22. NON-WAIVER. Landlord's waiver of any breach of any p rovision contained in this Lease shall
not be deemed to be a waiver of the same provision for subsequent acts of Tenant. The acceptance by
Landlord of Rent or other amounts due by Tenant hereunder shall not be deemed to be a waiver of any
previous breach by Tenant.
23. HOLDOVER. If Tenant shall , without the written consent of Landlord, remain in possession of
the Premises and fail to return them to Landlord after the expiration or termination of the term, the
tenancy shall be a holdover tenancy and shall be on a month-to-month basis, which may be terminated
according to Washington law. During such tenancy, Tenant agrees to pay to Landlord 150% of the rate of
r~ntallast payable under this Lease, unless a different rate is agreed upon by Landlord. All other terms of
the Lease shall remain in effect. Tenant acknowledges and agrees that this Section does not grant any
right to Tenant to holdover, and that Tenant may also be liable to Landlord for any and all damages or
expenses which Landlord may have to incur as a result of Tenant's holdover.
24. NOTICES. All notices under this Lease shall be in writing and effective (i) when delivered in
person or via overnight courier to the other party, (ii} three (3) days after being sent by registered or
certified mail to the other party at the address set forth in Section 1; or (iii) upon confirmed transmission
by facsimile to the other party at the facsimile numbers set forth in Section 1. The addresses for notices
and payment of rent set forth in Section 1 may be modified by either party only by written notice delivered
in conformance with this Secti on.
25. COSTS AND ATTORNEYS' FEES. If Tenant or Landlord engage the services of an attorney
to collect monies due or to bring any action for any relief against the other, declaratory o r otherwise,
arising out of this Lease, including any suit by Landlord for the recovery of Rent or other payments, or
possession of the Premises, the losing party shall pay the prevailing party a reasonable sum for
attorneys' fees in such action, whether in mediation or arbitration, at t rial, on appeal, and in any
bankruptcy proceeding.
26. ESTOPPEL CERTIFICATES . Tenant shall, from time to time, upon written request of
Landlord, execute, acknowledge and deliver to Landlord or its designee a written statement specifying the
following, subject to any modifications necessary to make such statements true and complete: (i) the total
rentable square footage of the Prem ises; {ii) the date the Lease term commenced and the date it expires;
(iii) the amount of minimum monthly Rent and the date to which such Rent has been paid; (iv) that this
Lease is in full force and effect and has not been assigned, modified , supplemented or amended in any
way; (v) that this Lease represents the entire agreement between the parties; (vi) t hat al! obligations
Neil Walter Company
550 S Michigan St
Seattle , WA 98108
Phone :2~787-1800
~ElL ·wALTE R Fax: 206-787-1479
C ~\f P A N Y
LEASE AGREEMENT
(Single Tenant For Entire Parcel-NNN)
C Co!':lr."erc:al Broicers ~
As soc!aUc~ 2J 1 1
AL~ R!G t-'TS RES ERVED
CBA ;:c/!!1 SPoi"'N
Si!lgie Te~a-tt "'NN cease
Rev.312011
Pave 14 of33
under this Lease to be performed by either party have been satisfi ed ; (vii) that there a re no existing
claims , defenses or offsets which the Tenant has against the enforcement of this Lease by Landlord; (viii )
the amount of Rent , if any, that Tenant paid in advance; (ix) the amount of securtty that Tenant depos ited
with Landlord ; (x) if Tenant has sublet all or a portion of the Premises o r ass igned its inte rest in the Lease
and to whom ; (xi) if Tenant has any option to exter.d the Lease or option to purchase the Premises ; and
(xii) such other factual matte rs concern ing t he Lease or the Premises as Landlord may reasonably
request. Tenant acknowledges and agrees that any statement delivered pursuant to this Sect ion may be
relied upon by a prospective purchaser of Landlord 's interest or assignee of any mortgage or new
mortgagee of Land lord's interest in the Premises. If Tenant shall fail to respond withi n ten (1 0) days to
Landlord's request for the statement required by this Section , landlord may provide the statement and
Tenant shall be deemed to have admitted the accuracy of the information provided by Landlord.
27. TRANSFER OF LANDLORD'S INTEREST. This Lease shall be assignable by Landlord
without the consent of Tenant. In the event of any transfer or transfers of Landlord 's interest in the
Premises , other than a transfer for collateral purposes only, upon the assumption of this Lease by the
transferee, Landlord shall be automatically relieved of obligat ions and liabilit ies accru ing from and after
t he date of such transfer, including any liability for any reta ined security deposit or prepaid rent, for which
t he t ransferee shall be liable, and Tenant shall attorn to the transferee.
28. LANDLORD'S LIABILITY. Anything in this Lease to the contrary notwithstanding , covenants ,
undertakings and agreements here in made on the part o f Landlord are made and intended not as
personal covenants , undertakings and agreements for the purpose of b inding Landlo rd personally or t he
assets of Landlord but are made and intended for the pu rpose of binding only t he Landlo rd's interest in
the Premises, as the same may from time to time be encumbered . In no event shall Landlord or its
partners, shareholders, or members, as the case may be, ever be personally liable hereunder.
29. RIGHT TO PERFORM. If T enant shal! fail to t imely pay any sum or perform any othe r act on
its part to be performed hereunder, Landlord may make any such payment or perform any such other act
on Tenant's behalf. Tenant shall, w ithin ten (1 0) days of demand, re imburse Landlord for its expenses
i ncurred in making such payment or performance. Landlord shall (in addition to any other right or ~e;nedy
of Landlord provided by law) have the same rights and remed ies in the event of the nonpayment of sums
due under th is Sect ion as in the case of default by Tenant in the payment of Rent.
30. HAZARDOUS MATERIAL. As used here in, the term "Hazardous Material" means any
hazardous, dangerous, toxic or harmful substance, material or waste incl uding biomedical waste which is
or becomes regulated by any local governmental authority, the State of Wash i ngto~ or the United States
Government , due to its potential ha rm to the health , safety or welfare of humans or the env ironmen t.
Landlord represents and warrants to Tenant t hat, to Landlord 's knowl edge without duty of invest igation ,
the re is no Hazardous Material on , in , or under t he Premises as of the Commencement Date except as
may otherwise have been d isclosed to Tenant in writing before the execution of this Lease. If there is any
Hazardous Material on , in , or under the Premises as of the Commencement Date which has been or
thereafter becomes unlawfu!ly released through no fault of Tenant, then Landlo rd shall indemnify , defend
and hold Tenant harmless from any and all claims, judgments, damages, penalties , fi nes , costs , liabilities
or losses including w it hout limitat ion sums paid in settlement of claims , attorneys ' fees , consultant fees
and expert fees , inc urred or suffered by Tenant e ither during or after the Lease term as the res ult of s uch
contam ination.
Tenant shall not cause or permit any Hazardous Material to be brought upon , kept , or used in or about , or
disposed of on the Premises by Tenant , its employees, officers, agents, servants, contracto rs , customers,
Neil Walter Company
550 S Michigan St
Seattle, WA 98108
Phone:2~787-1800
WElL WALTE~ Fax: 206-787-1479
C C :.f I' A N Y
LEASE AGREEMENT
(Single Tenant For Entire Parcel-NNN)
ccomr.ercial B'~••~ aw'
Assoc~atlor. 2C1 ~
All RIGHTS RESERVED
CBA Form ST -NNN
Sinste Tend NNN I..Mse
Rev. 312011
Pail& 15cf33
clients , visitors, guests, or other licensees or invitees, except with Landlord 's prior consent and then only
upon strict compliance with all applicable federal, state and local laws, regulations, codes and ordinances.
If Tenant breaches the obligations stated in the preceding sentence, then Tenant shall indemnify, defend
and hold Landlord harmless from any and all claims , judgments, damages, penalties , fines, costs,
liabilities or losses including , without limitation, diminution in the value of the Premises ; damages for the
loss or restriction on use of rentable or usable space or of any amenity of the Premises , or elsewhere;
damages arising from any adverse im;>act on marketing of space at the Premises ; and sums paid in
settlement of claims , attorneys ' fees, consultant fees and expert fees incurred or suffered by Landlord
either during or after the Lease term. These indemnifications by Landlord and Tenant include, without
limitation, costs incurred in connection with any investigation of site conditions or any clean-up, remedial ,
removal or restoration work, whether or not required by any federal , state or local governmental agency
or political subdivision, because of Hazardous Material present in the Premises, or in soil or ground water
on or under the Premises. Tenant shall immediately notify Landlord of any inquiry, investigation or notice
that Tenant may receive from any third party regarding the actual or suspected presence of Hazardous
Material on the Premises.
Without limiting the foregoing , if the presence of any Hazardous Material brought upon, kept or used in or
about the Premises by Tenant, its employees, officers, agents, servants, contractors , customers, clients ,
visitors, guests, or other licensees or invitees , results in any unlawful release of any Hazardous Materials
on the Premises or any other property, Tenant shall promptly take all actions , at its sole expense, as are
necessary to return the Premises or any other property to the condition existing pr ior to the release of any
such Hazardous Material ; provided that Landlord's approval of such actions shall first be obtained, which
approval may be withheld at Landlord's sole discretion. The provisions of this Section shall survive
expiration or termination of this Lease.
31. QUIET ENJOYMENT. So long as Tenant pays the Rent and performs all of its obligations in
this Lease, Tenant's possession of the Premises will not be disturbed by Landlord or anyone claiming by,
through or under Landlord.
32. MERGER. The voluntary or other surrender of this Lease by Tenant, or a mu t ual cancellation
thereof, shall not work a merger and shall, at the option of Landlord , terminate all or any existing
subtenancies or may, at the option of Landlord, operate as an assignment to landlord of any or all of
such subtenancies .
33. GENERAL.
a. Heirs and Assigns. This Lease shall apply to and be binding upon Landlord and Tenant
and their respective heirs , executors , administrators , successors and assigns.
Neil Walter Company
550 S Michigan St
Seattle, WA 98108
Phone: 206-787-1800
NEIL WALTER Fax: 206-787-1479
C C :-1 <> :. N Y
LEASE AGREEMENT
(Single Tenant For Entire Parcel-NNN)
ICI Co=:~ mercia: Brokers ~
Assoc!ation 2C~1
All RiG'iTS RESERVED
CBA ?"orrr ST-NN.'II
Sing:e Tena1t NI\'N Lease
Rev. 3.'2011
=>age16 of33
b. Brokers' Fees. Tenant represents and warrants to Landlord that except for Tenant's
Broker, if any, described or disclosed in Section 35 of this Lease , it has not engaged any broker,
finder or other person who would be entitled to any comm iss ion or fees for the negotiat ion ,
executio!1 or delivery of this Lease and shall indemnify and hold harmless Landlord against any
loss, cost, liability or expense incurred by Landlord as a result of any claim asserted by any such
broker, finder or other person on the basis of any arrangements or agreements made or alleged
to have been made by or on behalf of Tenant. Landlord represents and warrants to Tenant that
except for Landlord's Broker, if any, described and disclosed in Section 35 of this Lease, it has
not engaged any broker, finder or other person who would be entitled to any comm ission or fees
for the negotiation, execution or delivery of this Lease and shall indemnify and hold harmless
Tenant against any loss, cost, liabifity or expense incurred by Tenant as a result of any claim
asserted by any such broker, finder or other person on the basis of any arrangements or
agreements made or alleged to have been made by or on behalf of Landlord.
c. Entire Agreement. This Lease contains all of the covenants and agreements between
Landlord and Tenant relating to the Premises. No prior or contempo raneous agreements or
understandings pertaining to the Lease shall be valid or of any force or effect and the covenants
and agreements of this Lease shall not be altered, modified or amended to except in writing
signed by Landlord and Tenant.
d. Severability. Any provision of this Lease which shall prove to be invalid, void or illegal
shall in no way affect, impair or invalidate any other provision of this Lease.
e. Force Majeure. Time periods for either party's performance under any provisions of this
Lease (excluding payment of Rent) shall be extended for periods of time during which the party's
performance is prevented due to circumstances beyond such party's control , including without
limitation, fires, floods, earthquakes, lockouts, strikes, embargoes , governmental regulations, acts
of God, public enemy, war or other strife.
f. Governing Law. This Lease shall be governed by and construed in accordance with the
laws of the State of Washington.
g. Memorandum of Lease. Neither this Lease nor any memorandum or "short form" ther eof
shall be recorded without Landlord 's prior consent.
h. Submission of Lease Form Not an Offer. One party's submission of this Lease to the
other for review shall not constitute an offer to lease the Premises. This Lease shall not become
effective and binding upon Landlord and Tenant until it has been fully signed by both of them.
i. No Light, Air or View Easement. Tenant has not been granted an easement or other right
for tight, air or view to or from the Premises. Any diminution or shutting off of light , air or view by
any structure which may be erected on or adjacent to the Premises shall in no way effect this
Lease or the obligations of Tenant hereunder or impose any liab ility on Landlord.
j . Authority of Parties. Each party signing this Lease represents and warrants to the othe r
that it has the authority to enter into this Lease, that the execut ion and delivery of this Lease has
been duly authorized , and that upon such execution and delivery , this Lease shall be bind ing
upon and enforceable against the party on signing.
Neil Walter Company
550 S Michigan St
Seattle, WA 98108
Phone:206-787-1800
WElL WALTER Fax: 206-787-1479
CO'f!>A N \'
LEASE AGREEMENT
(Single Tenant For Entire Parcel-NNN)
C Comme;":~al Bro~ers CD('
Alllc<:l ati M 2011
A~L RI3H"'"S RESERVED
CBA ~<:~~ ST -NI\III
s;ng:e Tentr"t NNN Lease
Rev. 3/2011
Pail& 1! of 33
k. Time. "Day" as used herein means a calendar day and "business day~ means any day
on which commercial banks are generally open for business in the state where the Premises are
situated . Any period of time which would otherwise end on a non-business day shall be extended
to the next following business day. Time is of the essence of this Lease.
34. EXHIBITS AND RIDERS. The following exhibits and riders are made a part of this lease, and
the terms thereof shall control over any inconsistent provision in the sections of this lease:
Exhibit A: Legal Description of the Property
Exhib it B-Tenant Improvement Schedule
CHECK THE BOX FOR ANY OF THE FOLLOWING THAT WILL APPLY. CAPITALIZED TERMS
USED IN THE RIDERS SHALL HAVE THE MEANING GIVEN TO THEM IN THE LEASE.
D Rent Rider
D Arbitration Rider
D Letter of Credit Rider
D Guaranty of Tenant's Lease Obligations Rider
~ Addendum #1: Additional Yard Area
~ Option to Extend Rider
.1Z1 Option to Buy Real Estate
35. AGENCY DISCLOSURE. At the signing of this Lease, Landlord is represented by Joseph
Bauman of John L Scott Real Estate (insert bot h the name of the Broker and the Firm as licensed) (the
"Landlord's Broker"}, and Tenant is represented by Fletcher Farrar and Mike Roy of Neil Walter
Company (NWC-KV LLCJ (insert both the name of the Broker and the Firm as licensed} (the ''Tenant's
Broker"}.
This Agency Disclosure creates an agency relationship between Landlord, Landlord's Broker (if any such
person is disclosed), and any managing brokers who supervise Landlord's Broker's performance
(collectively the "Supervising Brokers"). In addition , this Agency Disclosure creates an agency
relationship between Tenant, Tenant's Broker (if any such person is disclosed), and any managing
brokers who supervise Tenant's Broker's performance {also collectively the "Supervising Brokers"). If
Tenant's Broker and Landlord's Broker are different real estate licensees affiliated with the same Firm ,
then both Tenant and Landlord confirm their consent to that Firm and both Tenant's and Landlord's
Supervising Brokers acting as dual agents. If Tenant's Broker and Landlord's Broker are the same real
estate licensee who represents both parties, then both Landlord and Tenant acknowledge that the Broker,
his or her Supervising Brokers, and his or her Firm are acti ng as dual agents and hereby consent to such
dual agency. If Tenants' Broker, Landlord's Broker, their Supervising Brokers, or their Firm are dual
agents, Landlord and Tenant consent to Tenant's Broker, Landlord's Broker and their Firm being
compensated based on a percentage of the rent or as otherwise disclosed on the attached addendum.
Neither Tenant's Broker, Landlord's Broker nor either of their Firms are receiving compensation from
more than one party to this transaction unless otherwise disclosed on an attached addendum, in which
case Landlord and Tenant consent to such compensation. Landlord and Tenant confirm receipt of the
pamphlet entitled "The Law of Real Estate Agency."
36. COMMISSION AGREEMENT. If Landlord has not entered into a listing agreement (or other
compensation agreement with Landlord's Broker}, Landlord agrees to pay a commission to Landlord's
Broker (as identified in the Agency Disclosure paragraph above} as follows :
Neil Walter Company
550 S Michigan St
Seattle, WA 98108
Phone : 206-787-1800
II!!IL WALTER Fax: 206-787-1479
C C."tP,\NY
LEASE AGREEMENT
(S ingle Tenant For Entire Parcel-NNN)
181 $ 120,000
0 _% of the gross rent payable pursuant to t he Lease
0 $ __ per square foot of the Premises
D Other
C Ccmme:claiBrokers ~ A5SC~ation 2011
ALL RIGHiS RESERVED
CBA F:~:n ST-~N N
Si ngle 79!'l8o~t ~'f..:t.; Lezse
Rev. 312011
Page ~8ot33
Landlord's Broker 0 shall lZ1 shall not (shall not if not filled in) be entitled to a commission upo n the
extension ~Tenant of the Lease term pursuant to any r ight reserved to Tenant under the Lease
calculated 0 as provided a bove or 0 as follows _ {if no box is checked , as provided above}.
Landlord's Broker D shall 1:81 shall not (shall not if not filled in) be entitled to a commission upon the
extension ~Tenant of the Lease term pursuant to any right reserved to Tenant under th e Lease
calculated U as provided above or 0 as follows _ (if no box is checked, as provided above).
Landlord's Broker 0 shall 181 sha ll not (shall not if not filled in) be entitled to a comm ission upon any
expansion of Premises pursuant to any right reserved to Tenant under the Lease, calculated 0 as
provided above or D as follows __ (if no box is checked , as pr ovided above).
Any commission shall be earned upon execution of this Lease, and pa id one-half upo n execution of the
Lease and one-half upon occupancy of the Premises by Tenant. La ndlord's Broker sha ll pay to Tenant 's
Broker (as identified i n the Agency Disclosure paragraph above) t he a mount stated in a separate
agreement between them or, if there is no agreement, $60.000 or n/a % (com plete onl y one) of any
commission paid to Landlord's Broker, within five (5} days after rece ipt by Landlord's Bro k er.
If any other lease or sale is ent ered into between Landlord and Tenant pursua nt to a right reserved to
Tenant under the Lease, Landlord 181 shall D shall not (shall not if no t filled in) pay an additional
commission according to any commission agreement or, in the absence of one, according to the
commission schedule of Landlord's Broker in effect as of the execution of this Lease. Lan dlo rd 's
successor shall be obligated to pay any unpaid commissions upon any transfer of this Lease and any
such transfer shall not release the transferor from liability to pa y such comm issions.
37. BROKER PROVISIONS.
LANDLORD 'S BROKER, TENANT'S BROKER AND THEIR FIRMS HAVE MADE NO
REPRESENTATIONS OR WARRANTIES CONCERNING THE PREMISES ; THE MEANING OF TH E
TERMS AND CONDITIONS OF THIS LEASE; LANDLORD'S OR TENANT'S F I NANCIAL STANDING ;
ZONING OR COMPLIANCE OF THE PREMISES WITH APPLICABLE LAWS; SERVICE OR CAPACITY
OF UTILITIES; OPERATING COSTS; OR HAZARDOUS MATERIALS. LANDLORD AND T ENANT ARE
EACH ADVISED TO SEEK INDEPENDENT LEGAL ADVICE ON THESE AND OTHER MATIERS
ARISING UNDER THIS LEASE.
Neil Walter Company
550 S Michigan St
Seattle, WA 98108
Phone:2~787-1800
NEIL W.I.LTSR Fax: 206-787-1479
CC:-I FANY
LEASE AGREEMENT
c Commercl.ol Boo~ers ~
Assocl~Hon 2011
ALL RIGHTS RESE~VED
CBA FOflTl ST -NNN
S 1ngle Teoar:: liNN Lease
Rev. 3/2011
Page 19 Of33
(Single Tenant For Entire Parcel-NNN)
IN WITNESS WHEREOF this Lease has been executed the date and year first above written.
Hawk Familv East Valley LLC
LANDLORD:
~I:ANDLO:
BY:
Stacv Holdings LLC, dba Compton Lumber
TENANT:
BY:
ITS:
Neil Walter Company
550 S Michigan St
Seattle, WA 98108
Phone:206-787-1800
N!;IL W A:O.TiER Fax: 206-787-1479
CC'4PANY
LEASE AGREEMENT
C Comc.ercial Br;)kers ~
Asaoc:ation 2011
AL:. RIGHTS RESERVED
CBA Form ST -t\NN
Sin~le Ten•nt ~NN Le<tse
Rev. 31201~
Page2C cl33
(Single Tenant For Entire Parcel-NNN)
Dated this
""JANELL M THALMAN
NOTARY PUBLIC #92305
STATE OF WASHINGTON
COMMISSION EXPIRES
~ APRIL 9, 2022 __~.
STATE OF WASHINGTON
COUNTY OF ________ _
I certify that I know or have satisfactory evidence that ------------------
is the person who appeared before me and said person acknowledged that signed this
instrument, on oath stated that was authorized to execute the instrument and acknowledged it
asthe of _____________ ___
to be the free and voluntary act of such party for the uses and purposes mentioned in the instrument.
Dated this-----------day of _________ ____,. 20 ___ .
(Signature of Notary)
(Legi bly Print or Stamp Name of Notary)
Notary public in and for the state of Washington,
residing at------------------
My appoi ntm ent expi res --------------
Neil Walter Company
550 S Michigan St
Seattle, WA 98108
Phone: 206-787-1800
NEIL WALTE~ Fax: 206-787-1479
r.:;"P'A NY
LEASE AGREEMENT
c eo.=ema: Bcckert ~
... ssociati~ 2C; 1
ALL RIGHTS RESERVED
CBA Form ST-:-lNN
Slng:e Te1a~t NI\N Lease
Rev. 3i2C11
?age21 of33
(Single Tenant For En tire Parce:-NNN}
-· 1 ss.
I
I certify that I know or have satisfactory evidence that .<;Ifill f.,. -~T t!5:t.
is the person who appeared before me and said person ack~owledgedttfat sJ. -< signed th!s
instrument , on oath st ated th at %...s was authorized to execute the instrument and acknowledged it
as the ~ ri'. .. IL. of___:::~~.~~-~~~~~------
to be th e free andloluntary act of suc h party for the uses and purposes menti ed in the instrument.
Dated this J tf/) ~A
STATE OF WASHINGTON
ss.
COUNTY OF -----
I certify that I know or have satisfactory evidence that ------------------
is the person who appeared before me and sa id person acknowledged that signed this
instrument, on oath stated that was authorized to execute the instrument and acknowledged it
asthe of _____________ ___
to be the free and voluntary act of such party for the uses and purposes mentioned in the instrument.
Dated this ------------day of ---------____,j 20 __ .
(Signat ure of Notary)
(Legibly Print or Stamp Name of Notary)
Notary public in and for the state of Washington,
residing at-------------------
My appointment expires --------------
Neil Walter Company
550 S Michigan St
Seattle , WA 98108
Phone: 206-787-1800
NeiL W~.LTER Fax: 206-787-1479
C 0 !·1 P A N Y
Parcel
Name
. SUe Address
1Geo.A!!cl
Spec Area
, Property Name
Legal DeMnptlon
LEASE AGREEMENT
(Sing le Tenant For Entire Parcel-NNN)
EXHIBIT A
[Legal Description of the Property]
PARCELOATA
302:iOf,.90<16
HAWK J;~.: .IR
•2940 EAS:T'IALLEY P.D
98055
7()-.itl
LUMBERYARD _j
I Jurisdiction
levy Code
Propetty l'fpe ...
·Plat Block /13ulldlng Number
1-~lat Lot (uni~Nuntber •. ·· .
Quarter .S.etton-TownshiP·
Range
C Cor::r.ercla; Br.>ke•s ow'
Ass:x:latlo~ 2C~ 1
ALL RiGHTS Ri:SERVED
CBA form ST ~'III:N
S!ng!e Te:1er.t fli~ ~ease
Rev. 3/2C11
?at;e 22 Of 33
REN70lll
c
,·N 200 ~.as ME.o\S ALG w LN OF PCR OF S'N 1.:~ nF NE 'ol4 ._.,. Vv1.Y 0F ST HVVY LESS w JC FT
. Plat Block·
· PJat lot;
Exhibit A
Neil Walter Company
550 S Michi gan St
Seattle, WA 98108
Phone: 206-787-1800
N!IL WALTI:~ Fax: 206-787-1479
C~"!:o ,.~.NY
LEASE AGREEMENT
(Single Tenant For Entire Parcel -NNN)
EXHIBIT B
[Tenant Improvement Schedule (Landlord's Work)]
1. Tenant Improvements to be Completed by Landlord
2. Tenant Improvements to be Completed by Tenant
OCor!'me:Oai BrokeB ~
Asaociaton 2:>11
All. RIGHTS RESERVED
CBA F~rm ST ·NNN
Sl~cle 7ar.ar.: NNI\ Leas e
Rev. 3/2011
?age23cf 33
Redevelopment of the Premises and Property into a lumber and building materials sales center,
and all alterations or improvements associated with such redevelopment.
Neil Walter Company
550 S Mich igan St
Seattle, WA 98108
Pho ne: 206-787-1800
'~ilL WALTE R Fax: 206-787-1479
CC:"!Pi\NY
LEASE AGREEMENT
(Single Tenant For Entire Parcel -NNN)
CCommen:lel Bl'oi<ers ~
AsscclaUo n 2~1 ~
ALL RI GHTS RESERVE:::l
CBA F:>:m ST -t.;NN
Sin!;le Tenant NN~ Lease Rev.3r.r.n
Pllge24 ~33
The following is part of the Commercial Lease Agreement dated November 20, 2018 , between Hawk
Family East Valley LLC ("Landlord") and Stacy Holdings LLC. dba Compton Lumber ("Tenant")
regarding t he lease of t he Property known as: 2940 East Vallev Rd. Renton, WA
!T IS AGREED BETWEEN THE LANDLORD AND TENANT AS FOLLOWS: Landlord shall clear. level
and gravel the A dditional Yarr! area from the neighboring parcel to the South as further described
in the site plan bel ow. This Additional Yard area shall be delivered In a clean condition ready for
resurfacing and/or other improvement. This area shalf be delivered no fater than March 1, 2019.
~El L W ALTE R
C C 'f fl A N Y
Neil Walter Company
550 S Michigan St
Seattle, WA 96108
Phone: 206-787-1800
Fax:2~787-1479
OPTION TO EXTEND RIDER
CCommer::i8i Brokers ~
Allsocia1!on 2011
AL~ RIGHT S RESERVED
CBA"ormOR
Op~cn ID Exler1!l Rider
R811 .. 112011
Page25 of33
~BA Text o :sciaimer: Text :fe;eted by iice:-:see :nc:ca!e:i by s~rike. New text :nserted by
licensee :r.d'catec by sr:1all capital ler.ers.
This Option to Extend Rider ("Rider") is made part of the lease agreement dated November 20, 2018 (the "Lease")
between Hawk Family East Valley LLC ("Landlord") and Stacy Holdings LLC, dba Compton Lumber ("Tenant")
concerning the leased space commonly known as 2940 East Valley Rd. Renton, WA (the "Premises"}, located at the
property commonly known as 2940 East Valley Rd. Renton, WA (the "Property").
1. Extension of Lease; Provided Tenant is not in default of any provision of the Lease at the time that Tenant
exercises the right to extend the Lease or at the time the new term begins, Tenant shall have four (4) (zero if not
completed) successive options to extend the term of the Lease for five (5) years each. The term of the Lease
shall be extended on the same terms, conditions and covenants set forth in the Lease, e)(6ept that (i) tl=le ame~:~nt
ef the ease Rent stated in ti:le bease si:lall 9e adjljsted as set forth 9elaw (previaeGt, h911.rever, that ease Rent sl=lall
net Be GteGreasea); (ii) tl=lere shall 9e ne free ar a~ated rent peFieas, tenant impravement allawanGes ar etl=ler
GonGessiens tt:lat may have eeen §ranted te Tenant at the 9eginning ef the initial term t:leFeef; anGt (iii) after
e:KerGise ef Tenant's ~nal e>Etensien term option, tt:lere shall ee ne f1:1rtt:ler e>EI:ensien er renewal terFR of')tians .
2. Notice. To extend the Lease, Tenant must deliver w ritten notice to Landlord not less than one hundred eighty
(180) days prior to the expiration of the then-current Lease term. Time is of the essence of this Rider.
3. Monthly Rent. A 1 0% increase to Base Rent due during the previous term , applied beginning on the first month
of each renewal , and carried flat throughout the remainder of the renewal term. banGtlerd and Tenant shall make a
gaeGt faith e#ert te Eleterm ine anGt agree en tt:le fair market vah,~e af rent for the Premises far the ne>Et term ef tt:le
bease.
a. Failure to Agree QA Rent. If banGtlorGt ana Tenant ar:e 1:1naele to a§ree en the fair market rental vallje for the
Premises witt:l in thirty (3Q) days after Tenant gi'>•es netiGe to e>EI:ena, they st:lall then ha'>•e ten (1 Q) Elays ta
seleGt er, appaint ane real estate appraiser to Eletermine the fair market vaJ1:1e af rent fer the Prem ises. All
appraisers selected ar appeinteGt p1:1rs~an t to this Rider shall be a MeFReer af the .A.merisan lnstitblte ef Real
~state Appr:aiseFS ("M.A.I.") with at least ten (1 Q) years experience appraising GammerGial preperties in tt:le
Gommersial leasing market in wl:tiGh the PreR'!ises are leGated, ar BE!I:Ii!Jalent. Tl=le appraiser ap13aintee shall
determine tl=le fair market Fental val1:1e fe r the Premises within P.venty (2Q ) Elay.s ef appeintment, whiGI=l
determinatian shall be final , Gonsii:ISi'le, and Binding blpon eatl=l Landlard a nd T enant, ana ease Rent shall ee
adj~ste61 assardingly for tt:le new terFR . The appraiser's fees and e:Kpenses st:lall se sl:larea eq1.1ally eetween
the parti es.
b, Faihue to Appelnt One Appraiser. If bandler:d and Tenant sannat ml:lti:lally agree 1:1pen an appraiser , then
either party may give the atl=ler party written netise tt:lat it has seleGteGt and appeinted an MAl. appraiser,
Gemplete with tFie name, ad61ress, ana ather identifying infarmation aeeljt the appraiser. Tt:le party reGeiv-ing
s~::~Gf:l netise shall then have ten (1Q) days te selest a na a ppoint its awn M.A.I. appraiser anel responGt sy giving
•,t.•ritten natiGe te t he ather party, Gamplete w ith tl=le name, addr ess, anel etJ:Ier identifying infermation aea1:1t the
appraiser. If, J:la• ... rever, t he Fespand i ng party fails te selest and appaint an appraiser and give natiGe te the
ether party witl:tin ten (1 Q) days, the eleterminatian af the aJ:lpraiser first appainteEI shall ee final, Gen G it~sive
a nGt 9indin€J !:!pen betl:! parties, ana tl=le 8ase Rent sFiall ee a elj 1:1steEl asserein~ly fer tl=le new term. Tt:le
appraiser's fees anGt expenses shall be shared eqljally 9etv.reen the parties.
INITIALSoUINOlO~D /}?/ DATE !1-.:?/3-/8_ TENAN T ---'-S_..Q.,__ __ DATE
. LANDLORF--DATE _______ TENANT ______ DATE ------
12-3-/6
Neil Walter Company
550 S Michigan St
Seattle , WA 98108
Phone :2~787-1800
MEIL W AL"fGR Fax: 206-78 7-1479
.:;:>~PANY
OPTION TO EXTEND RIDER
e Comm&rd al a-ckers CIW
Assoclaton 2~1 ~
A~~ RIGHTS RESERVEC
CBAFormCR
Opt!or. to Exter.d Rw
Rev. 112011
Page 26 of33
c . Methad af Cetermining Rent. TAe appr=aisers appointed shall proseea to determine fair maFket rental vah,Je
within twenty (20) days following tl:leir appointment. TRe sonsiLJsion shall ee final, sonslusive and 9inl:ling
upon eott:l banalor:d ani:! Tenant. If the appraisers sl=tol:lla fail to agree, but the differense in tt:leir soAsl~:~sions
as to fair market rental value is ten persent (10%) or less ef the lower of tt:le t\•;o ap!'lraisals, tl=ten the fair
market rental val1:1e shall ee deemed to ee the average of the two, and Base Rent shall be a9j~:~steel
accordingly far tl=le new term . If the two a!'lpraisers sf:to~:~ld fail to agree on the fair mark et rei=ltal val~:~e , and the
differense between tt:lo tv.-o ap!'lraisals e*seeds ten persent (10%) of the lmver ef the t\vo a!'lpraisals, then the
two appraisers shall appoint a thir:d M.,A,.I . q~:~alified appraiser. If they fail to agree on a thifd af)praiser witl=tin
teA (10) says after their individ~:~al determination of the fair market rental val~:~e, either party may apply to the
GOl;lrts for tl=le county in wl=lish the Premises are located , requesting tl:lo appointment of a tl:le tl=lird M.A.I.
qualified appraiser. The thin:l appraiser st:lall promptly determine the fair market rental val~:~e of tho Premises.
Tl:le parties shall then take ti:le average ef tl:te twa appraisals tl:lat are slosest iR val~:~e, whist=t st:tall then
GOAstitute tl=le fa ir market value; st:tall be final, sonol1:1s ive and binding l:lf'IOR 9oth parties; anei'Base Rent sl=lall
be adj1:1sted assor:dingly far the new term. Easl:l party shall pay the fees and expenses far its own apJ')raiser.
In the event a tt:lir:d appraiser must be appointed, t:lis or her ~os ana expenses st:lall be borne eejually by tl=te
parties.
4. ENVIRONMENTAL CONDITIONS-TERMINATION OF OPTION : THIS OPTION TO EXTEND IS ONLY IN
EFFECT AS LONG AS SELLER HAS FAILED TO COMPLETE THE REQUIRED WORK PER THE LEASE TO
OBTAIN A NO FURTHER ACTION NOTICE FROM THE DEPARTMENT OF ECOLOGY. UPON RECEIPT OF A
NO FURTHER ACTION NOTICE FROM THE DEPARTMENT OF ECOLOGY FOR THE PROPERTIES
OUTLINED IN THE OPTION TO BUY REAL ESTATE BELOW, TENANT SHALL HAVE NO ADDITIONAL
OPTIONS TO EXTEND. IF TENANT HAS EXECIZED THE OPTION TO BUY REAL ESTAT E AND THE THEN-
CURRENT TERM'S EXPIRATION DATE LANDS PRIOR TO CLOSING , THE THEN-CURRENT TERM SHALL
BE EXTEND ON A MONTH-TO-MONTH BASIS UNTIL CLOSING.
[NiiiAl.S:LANDLO~D (?? DAT: ~~:<6-18 TENANT _SS;;;;........;;::;__ __ DATE lANDL~ DATE TE NANT DATE ------
COMMERC(AJ.. REAL £,s'"rA~ S«fltVICitS
Nell Walter Company
550 S Michigan St
Seattle, WA 98108
Phone: 206-787-1 BOO
Fax: 206-787-1479
OPTION TO BUY REAL ESTATE
CBA Text Disclalme~: Text deleted by licensee Indicated by strikl!!.
~ew text inserted.by licensee ir:d;cated by small capitallette~s .
~ Copyright Coreme rcial Brokers CJW
Assocla!lon 2011
ALL RIG HI S RESERV ED
CBA"o;mOTB
Opt;m b Bey R&ai Estale
Rev. 1 .'20~~
Page 27 of 5
This Option To Buy Rea! Estate ("Option") is entered into this 2(1h day of November, 2018, between
Stacy Holdings LLC. dba Compton Lumber and/or assigns ("Buyer'') and Hawk Family East
Valfev LLC ("Seller").
1. TYPE OF OPTION. This Option 181 is [J is not part of a lease between Buyer, as Tenant, and
Seller, as Landlord dated November 20. 2018 (the "Lease") for the real property legally described as
set forth ~ in the Lease, if this Option is part of a lease or ~ in Exhibit A, attached to this Option (the
"Property"). If this Option is part of a lease, a default by Buyer on the Lease shall also cause Buyer to
default on this Option.
2. OPTION PAYMENT AND EXPIRATION. In consideration of~ the terms of and rent paid u nder the
Lease 0 $ __ paid by Buyer; Seller grants to Buyer, and Buyer's successors and assigns, the
right to close the purchase of the Property on or before e final da f the Lease Te
additional terms entered Into via 0 tions to Extend OR within months of recel t of NO
FURTHER ACTION NOTICE from Washington State Department of Ecologv. whichever occurs S
!ltB (the "Expiration Date"), without grace or extension of said date. _____ $::;::;.....;;;.__--
3. NOTICE -EXE.RCISE OF OPTION. Buyer shall give written notice to Seller that Buyer intends to
exercise this Option at least forty five (45} days (thirty (30) days if not filled in) before the Expirat ion
Date. Buyer shall send notice by certified mail to Seller at the following address: The notice address
documented in the Lease.
4. PURCHASE AND SALE AGREEMENT. Buyer and Seller have completed and attached a purchase and
sale agreement (the "Purchase Agreement") to this Option as Exhibit B. If Buyer exercises this Option,
Buyer and Seller shaH proceed with the transaction according to the terms and conditions set forth in the
Purchase Agreement and, unless otherwise stated in the Purchase Agreement, an time periods stated
therein shall run from the date Buyer gives SeUer notice that Buyer will exercise this Option (e.g., time
periods for financing, inspections, and t itle review). In the event of a conflict between terms of this Option
and the Lease or the Purchase Agreement, the terms of this Option shalf control.
5. PURCHASE PRICE. The purchase price of the Property is Six Million Dollars ($6,000.000), payable
as follows: all cash at Closing.
The following shall be applied to the: 0 Down Payment ~ Purchase Price:
D All rent paid under the Lease.
D The amount filled ir. at Paragraph 2, above;
181 Other: $200,000 Security Deposit paid to Landlord bv Tenant as part of the Lease
6. CLOSING. Closing shall take place as set forth in the Purchase Agreement but in no event later than
the Expiratio set forth in this Option at the offices of First American Title and Escrow, Bruce
INITIALS: Seller Date //~-/£1 9uyer ~ Date J 2. ....::J -/g=
Seller' ______ Date _______ Buyer ______ Date-------
Neil Wa lter Company
550 S Michigan St
Seattle, WA 98108
Phone : 206-787-1800
Fax: 206-787-1479
OPTION T O BUY REAL ESTATE
(CONTINUED)
c Copyrigf't Comr::ercial Btoke:s ~
Assoc!S:!or; 2011
All RiGHTS RES ERVED
CBA=omo-:-e
Optioc :o Buy Raai Estate
Rev.11201 1
?age 28 of 33
Judson (the "Closing Agent"). No later than five (51 days (10 days if not filled in) before the Clos ing
date, Buyer shaH depos it in escrow with t he Closing Agent all money and documents necessary to
close. With in five (5} days (5 days if not filled in), Seller shall deposit in escrow with the Closing
Agent all money and documents necessary to close.
7 . TIME IS OF THE ESSENCE. Time is of the essence of this Opt ion . In the event that: (a) Buyer fails
to give notice of exercise of this Option within the time provided herein ; (b) this sale shall fail to close
prior to the Expiration Date (through no fault of Seller); (c) Buyer shall fail to depos it all necessary
documents and money into escrow on or before the time required in paragraph 6, above; or (d) Buyer
defaults on the Lease (if this Option is part of a lease), then Buyer's right to purchase the Property
shall terminate, and any option payment provided in pa rag raph 2 , above, shall be retained by Sel ler.
8. COMMISSION. In the event that this Option is exercised and the sale closed, Seller shall pay, at
closing , a commission IN ACCORDANCE WITH THE AlTACHED PURCHASE AND SALE
AGREEMENT. ef $ __ er __ % ef the sale ~rise te __ , a liseRsetl real estate firrn . No firm
involved in this transaction is receiving compensation from more than one party un less disclosed on
an attached addendum, in which case Buye r and Seller agree to such compensation. This Option
may be recorded . IN THE EVENT THAT THIS OPTION IS NOT EXERCISED ON OR BEFORE
MONTH 61 OF THE LEASE , LANDLORD SHALL PAY NEIL WALTER COMPANY AN ADDITIONAL
COMMISSION OF $60 ,000 ; AND NEIL WALTER COMPANY SHALL NO LONGER BE ENTITLED
TO SEEK ANY FURTHER COMMISSION UPON SUBSEQUENT PURCHASE WHENEVER THAT
MAY OCCUR.
9. AGENCY DISCLOSURE. Agency disclosures are contained in the Lease (if any) and in the
Purchase Agreement.
10. TITLE INSURANCE. Within ten (101 days (10 days if not filled in ) following the date of this Option,
Seller shall obta in from First American Title and Escrow. Bruce Judson, at Seller's expense, and
del iver to Buyer a prel im inary comm itment for a standard purchaser 's policy of tit le insurance showing
title . Buyer shall notify Seller in writing of any objectionab le m atters in the title report or any
supplemental report no later than 5 days after Buyer receipt. If Seller cannot, at Seller's sole
expense, make title satisfactory to Buyer in Buyer's sole discretion w ith in __ days (60 days if not
fifled in) following Buyer's receipt of a copy of said preliminary commitment, any option payment shall,
unless Buyer elects in writing to waive such defects or encumbrances , be immediately refunded to
Buyer. Notwithstanding the foregoing , Seller shall have until Closing to satisfy monetary
encumbrances .
At closing of th is transaction , Seller shall, at Seller's expense, obtain a policy of title insuran ce as
required by the Purchase Agreement.
11. OTHER AGREEMENTS. ~None 0 As follows:
INITIALS:Sellep· Date 11-d& /8 Buyer ._...::ss::::;..::::....._ ___ Date
Se!;e r ------Date _______ Buyer ______ Date-------
NEIL WALTER
C C M: P' A N Y
COMMI!flt.CIA.L. REAL-EST Aft WERVICES
Nell Walter Company
550 S Michigan St
Seattle, WA 98108
Phone: 206-787-1800
Fax: 206-787-1479
OPTION TO BUY REAL ESTATE
(CONTINUED)
Buyer Stacy Holdings LLC, dba Compton
Lumber
Buyer __
Buyer
>!:> Copyrig.~: Commercia' 3cokers rr... • /
Assoc!atico 2C11 lJi'I
A~L R'G!-CTS RES::RVE D
CBA FOITil OTB
Option !c 3".Jy Real Estale
Rev. 1120 ~1
Page 29 of 33
Printed name and type of entity
Sign ature and tiDe
Date signed _______________ _
Date signed ______________ _
Seller
Pri nted name and type of entity
Seller
Signature and t itle
II -n~..:J.-//1 Date signed __________ _
Date s i gned---;A,-;..L.-=~:........::==.--ll:Z~---------
INITIALS: Selier ..t:1.2·
Selle(/'
LJate 1/-;28-1& Buyer _.,S..:.:..S'.L.-... ____ Date .JZ-318'
Date _______ Buyer _______ Date _______ _
NEIL WALTER
1:0111PANY
C!tttdMie.:tet.U. R~t. ES1"A'I"'I. SERVJCE:S
Neil Walter Company
550 S Michigan St.
Seattle, WA 98108
Phone: 206-787-1800
Fax: 206-787-1479
o Cow.i!ti Com:ne:'cia! !:l!'olcers CB('
Aaocia5on 2J~ 1
ALL ~iG'"ITS RESE~VED
C3AFc:mOTB
Opti~ !o Buy Real Estate
Rev. ~12C11
?age30of33
OPTION TO BUY REAL ESTATE
7 JANELL M THALMAN
NOTARY PUBLIC #92305
STATE OF WASHINGTON
COMMISSION EXPIRES
},. APRIL 9, 2022 ~
STATE OF WASHINGTON
COUNTY OF __________________ _
(CONTINUED)
Notary Pu · ·
residi ng at ----'~~~'1"'---¥-7-f~:;r.-~---...~
} ss .
)
I hereby certify that I know or have satisfactory evidence that -------------
appeared before me and signed this instrument and acknowledged it as the --------
of to be ______________ _
free and voluntary act for the uses and purposes mentioned in this instrument.
Dated:-----------
INITIALS :Seller Q
Seli eP
Notary Public in and for the State of Washington ,
res id!ng at------------
My appointment expires --------
Date j/;Z}-/8 Buye r ---'-$......._6'--'---Date
Date ______ Buyer ______ Date ------
NEIL WALTER
1 '-:. C M P A 'f.! Y
Neff Walter Company
550 S Michigan St
Seattle, WA 98108
Phone:206-787-1800
Fax: 206-787-1479
OPTION TO BCY REAL ESTATE
(CONTINUED)
ss.
e Copyr.ght Commerc~al Brokers CJW'
Assoclatio~ 201 <
ALL RIGHTS RESERVED
C3A For~OTB
Optlor. !o Buy Real Estate
~ev. 11201"
Page 31 of33
COUNTYOE )
l he reby ce rtify that [ kno . r have satisfactory ev!der.ce that _S,---"b...L:..../tu.~=-""""".,._____..S:: .... 7..........,./f-C~· ~-... &~~~
appeared before me and signed th ~s instrument and acknowledged it as thef 11 ~TJ;L I
of ;f. .» Y pj/., to be --'-1/z,L..:~=-~~-------
free and vol~tary ac fo r the uses and pur oses menti()ned '
Dated: ~£CAh-~ $ , ~/
STATE OF WASHINGTON
COUNTY OF __________________ _
) ss.
)
I hereby certify that l know or have satisfactory evidence that
appeared before me and signed this instrument and acknowledged it as the ---------
of robe _______________ __
free and voluntary act for the uses and purposes mentioned in this instrument.
Dated:------------
INITIALS: Seller !.72
Se!ief'
Date
Notary Public in and for the State of Washington,
res idi ng at-------------
My appointment expires ---------
Buyer -"~s:-· .. 5:..-L-___ Date /Z -5 .. /J I
Date-------Buye~ Date -------
NEIL WALTER Neil Walter Company
550 S Michigan St
Seattle, WA 98108
Phone:206-787-1800
Fax: 206-787-1479
c :::OiJYright Co:rroerc:al Sc:>Kers r.rr. ,/
AsSOC:a~o~ 2011 lJ:SI(
ALL R:G'iTS RESERVED
: 0 M !" A N 'j'
CDMMI:RClAL REAL ES'TATK .IE .. VICES CBA For!r 078
Option to Buy Real Estate
Rev. ~!2011
Page3.2 of33
OPTION TO BUY REAL ESTATE
{CONTINUED)
Exhibit A : Legal Description of Property involved in the Option:
'Par·c:01l
I Naone
Site Audress
Gao Aoea
Sp .. r An~"
Property Nan•~
L.egal Dascriptton
HAWKJIMJH
:?~fCI EAs·,· VALLEY ~['·
•·:tlOS:o<
11..'--<C'
PARCEL DATA
J
Jum•~.!_<.:tfon -· .....
,Levy Code
PI opett'i 1\1~41
:Plat Block I Building Number
I
Plat Loti U1 \1t Number
Quart .. r -Sact•<>n-Township·
Ranua
.. . . .
N ~00 FT A">ME·'.S o\V~ ~V L'< OF !>('.•~ OF St'.:·:.·-4 ,..,F NF. ~ 4 I'! WLV OF s ·r H'I\'Y LESS. 'A';)(; Fl'
PL .. t Block.
Plat Lot:
1
:::·
Site .ll.dtlress
·.;leo Artoo~
·spec Area
Ptoperty Jl(am~
HA\Vt~ JIM .~R
29FO EAST ''P.llE•· RO
~8055
?'0-4(:
STORA\~E' ';.4R:-J FOR
SK\ •'.'A\' ":'OWING
I J~lrfsdJCt!on _
Levycooe ---· ..
· Property Type
i Plat etoc:k 1 Butid!~g Number
Plat Lot i Ul'!lt Numbf;r
Quartw-Sectoon-Townsh ,p.
Range
r~t:NTCN
12~()()
r_-;
i R:ENTr.>N
2:oo
c
L~gal Deacn~ion
I s::~;::.:.: FT O F I~ 4 .i.O FT ()F "")"·~ sw ··i4 oc· N£ ..... l y WL't o F;.iT HIV't # ~-lf:;SS <'! .iO· r-r
PLat olor.k:
Plat Lot
=~~---=---
I
Parcel
NamP.
Site Address
G.lo Area
·spec Area
. PrO~-'rty i-la-.'Y:~J
Legal Deecr'1ptlon
3(,Z'II.l'>O":Ht9
HAWK JIM JR
7(H0
3K\ VI!A,Y T0"'~'1NG ~ND
,R E•;("'\I E ,~Y .
Jurl~dlctlon
levy Code
Property 'Tv?e
Plat Bloclc 1 Building Number
Plat Lot 'Unit •~umbi!r
'
Quarttor·S9ctlon-Township-
, Range
RENTON
210(1
I P (J!'{ N ~r.: OF SW 1i.i C:F' ._.E" ~'4 L': WL'' OF ~1 HV\'Y"'' S l ESS·,~, ::Su FTI .. ~\3S N 4X 1"1' A S ;:.,;As AI..(.; W LN &
L ESS E 1.~-~ ~-f ;::.;; W l :?.i' F ;· OF ·,; 1C8 ::1· OF ~.[l NIL 0" :C •·'V 1 ''i ''IF ~JC: 1!-l
PLat Block
Pll!lt L<>t:
Parceol
.,'N11m9
Site Address
G~o Ar'&a
Spec~a
PIO!I•Ity Name
3u;:·~o )5-9091
;;AV'Vi( Jt~.: JR
~-.s.·;~o £:.:-sT VA •• o..E·~ 1':0
91i(;5":
~.1iLTS Tm.IGKINH
I Jmlosdict10n
LevyCocf,.
. ·-
. P,op~;~rty rypa
P!at Block 1 Building Num~r
Plat l.ot i Umt !!lumber
· Quarter-Secnon-Towno;;hlp-
_Ranga
c
J
Legal_ D~crip!:i~n ____ ·-.. .. ·---·---'"
F. l l.'!? F'o C~=' 'N 1 <:)1' FT OF S 1 (tB "' C~ N 1n OF BVI : . .t •='F NE 1 '"'
PLat Bloc"'-
PiatLot. J
INITIALS'S-cf?;2! D•le j/~-JfJ &ye• __._, S:,.L>.·'-5,.~---___ Date
Seller --------Date--------Buyer ________ Da~e --------
NEIL WALTER
•:ONPA~V
Neil Walter Company
550 S Michigan St
Seattle, WA 98108
Phone: 206-787-1800
Fax: 206-787-1479
OPTION TO BUY REAL ESTATE
(CONTINUED)
~ Copyrigh! Cor:-rr.ercia: Brci<ers CB('
Associat:o,1 2C11 ·
ALL RIGHTS RESERVEC
CSA FOI!llOTe
Option to B;.oy Real Esta!e
Rev. </2C11
?age 33 of33
Exhibit B to this Option to Buy Real Estate, the Purchase and Sale Agreement , is
included in the following pages .
IN1 TIALS:Seller _/}_r)< Date 1/-,28~ /8 Buyer -~=....W:...___ __ Date j:z_ J J L
Seii(/ ______ Date B'-l}'er _______ Dat e _'------
NEIL WALTER
i: C H 1-A N Y:
coJ.noi""ERCJAL R EAL Eir."ATI! aUVlCES
Neil Walter Company
550 S Michigan St
Seattle , WA 98108
Phone:206-787-1800
Fax: 206-787-1479
COMMERCIAL & INVESTMENT REAL ESTATE
PURCHASE & SALE AGREEMENT
Th!s r.as been prepared for SOJbm!Ssi~n fu y oor attorney for rtr.ti aw ana approval prior to
sigd!7fl. No repi'8Sentation is made by Ucensee as fu :ts sufficiency cr tax oonseqr.;ences
c :;ommeC:::~I Brokers CJW"
Associati:m 2J11
A~~ RIGHTS RESERVED
~BA Fom: PS·"A
Pu<chue & Sa)e Ag.-ee:ntr.rt
Re~~. 1f2:l11
Page ~«:! 18
Reference Date: November 20, 2018
Stacv Holdings LLC. dba Compton Lumber and/or assigns ("Buyer") agrees to buy and Hawk Family East Valley
LLC ("Seller") agrees to sell, on the following terms , the commercial real estate and all improvements thereon
(collectively, the "Property") commonly known as 2940-2990 East ValleyRd in the City of Renton, King County,
Washington, legally described on attached Exhibit A. The Reference Date above is intended to be used to reference
this Agreement and is not the date of "Mutual Acceptance," which is defined in Section 23.
1. PURCHASE PRICE. The purchase price is Six Million Dollars ($6,000.000) payable as follows (check only one):
l:8l All cash at closing with no financing contingency.
0 All cash at closing contingent on new financing in accordance with the Financing Addendum (attach CBA Form
PS_FIN).
D $ __ OR _% of the purchase price in cash at closing with the balance of the purchase price paid as
follows (check one or both, as applicable}: D Buyer's assumption of the outstanding principal balance as of
the Closing Date of a first lien note and deed of trust (or mortgage}, or real estate contract, in accordance with the
Financing Addendum (attach CBA Form PS_FIN); 0 Buyer's delivery at closing of a promissory note for the
balance of the purchase price, secured by a deed of trust encumbering the Property, in accordance with the
Financing Addendum (attach CBA Form PS_FIN ).
D Other: __ .
2. EARNEST MONEY. The earnest money in the amount of $Q shall be in the form of D Cash 0 Personal check
D Promissory note (attached CBA Form EMN) ~ Other: Buyer and Seller hereby agree that no Earnest
Money shall be due in light of the Lease between Buyer and Seller dated November 20, 2018 that this PSA
is associated with.
The earnest money shall be held by 0 Selling Firm ~ Closing Agent. Selling Broker may, however, transfer
the earnest money to Closing Agent.
Buyer shall deliver the earnest money no later than:
[] __ days after Mutual Acceptance.
D On the last day of the Feasibility Period defined in Section 5 below.
~ Other: n/a.
If the earnest money is to be held by Selling Firm and is over $10,000, it shall be deposited to: U Selling Firm's
pooled trust account (with interest paid to the State Treasurer) C A separate interest bearing trust account in
Selling Firm's name. The interest, if any, shall be credited at closing to Buyer. If this sale fails to close, whoever is
entitled to the earnest money is entitled to interest.
Selling Firm shall deposit any check to be held by Semng Firm within 3 days after receipt or Mutual Acceptance,
whichever occurs later. Buyer agrees to pay financing and purchase costs incurred by Buyer. Unless otherwise
provided in this Agreement, the earnest money shall be applicable to the purchase p:ice. ·
3. EXHIBITS AND ADDENDA. The following Exhibits and Addenda are made a part of this Agreement:
181 Exhibit A -Legal Description
D Earnest Money Promissory Note, CBA Form EMN
INITIALS: Buyer~ Date / /;?8 -18 Seller _______ Date--------
3uyer--$ 6 Date /2. -3 Y'iJ: Seller _______ Date --------
K:IFFarra:\Corrpton\~easesi?SA_Comp!cn C Hawk. as part of Lease.docx
Neil Walter Company
550 S Michiga n St
Seattle , WA 98108
Phone :206 -787 -1800
Fax: 206-787-1479
COMMERCIAL & INVESTMENT REAL ESTATE
PURCHASE & SALE AGREEMENT
(CONTINUED)
D P romissory Note, LPB Form No. 28A/
D Short Form Deed of Trust, LPB Form No. 20
0 Deed of Trust Rider, CBA Form DTR
12] Utility Charges Addendum, CBA Form UA
0 FIRPTA Certification , CBA Form 22E
0 Assignment and Assumption, CBA Form PS-AS
D Addendum/Amendment, CBA Form PSA
0 Back-Up Addendum, CBA Form BU -A
D Vacant Land Addendum, CBA For.m VLA
0 F inan cing Addendum , CBA Form PS_FIN
0 T enant Estoppel Certificate, CBA Form PS_TEC
0 Defeasance Addendum, CBA Form PS~D
181 Ot her Form 17-Seller Disclosure Statement
C> ~.erclal Broi<ers ~
Asscoia~oo20 l ~ .
ALL RIGHTS RES E ~VEO
::BAFormf'S..1A
?::rdla&e & Sale Agreemer.t
Rev. 112:ll 1
PaGe 2 of 18
4. SELLER'S UNDERLYING FINANCING. Unless Buyer is assuming Seller's underlying financing , Seller shall be
responsib le for confirming the existing underlying financing is not subject to any "lock out" or similar covenant which
would prevent the lender's lien from being released at closing. In addition, Seller shall provide Buyer notice prior to
the end of the Feasibility Period if Seller is required to substitute securities for the Property as collateral for the
underlying financing (known as "defeasance"). If Seller provides this notice of defeasance to Buyer, then the parties
shall close the transaction in accordance with the process described in CBA Form PS_D or any different process
identified in Seller's defeasance notice to Buyer.
6. FEASIBILITY CONTINGENCY. Buyer's obligations under this Agreement are conditioned upon Buyer's
satisfaction in Buyer's sole d iscretion, concern ing all aspects of the Property, including its physical condition; the
p resence of or absence of any hazardous substances; the contracts and leases affecting the property ; t he potential
financial performance of the Property; the availability of government permits and approvals ; and the feasibility of
·the Property for Buyer's intended purpose. This Agreement shall terminate and Bu yer shall receive a refund of the
earnest money un less Buyer gives written notice to Seller within thi rtv (30) days (30 days if not filled in) (the
"Feasibility Period ") of Mutual Acceptance stating that this condition is satisfied . If such notice is t imely given, the
feasibility contingency stated in this Section 5 shall be deemed to be satisfied.
a. Books, Records, leases, Agreements. Seller shall make available for inspection by Buyer and its agents
within five (51 days (2 days if not filled in) after Mutual Acceptance all documents in Seller's possession or control
relating to the owne~ship, operation, renovation or development of the Property, excluding appraisals or other
statements of value, and including: statements for real estate taxes, assessments, and utilities for the last three
years and year to date; property management agreements and any other agreements with professionals or
consultants; leases or other agreements relating to occupancy of all or a portion of the Property and a suite-by-suite
schedule of tenants, rents, prepaid rents , deposits and fees; plans, specifications, permits, applications , drawings,
surveys, and studies; maintenance records , accounting records and audit reports for the last three yea rs and year
to dat e; a nd "Vendor Contracts" wh ich shall include maintenance or service contracts, and installments purchase
contracts or leases of personal property or f ixtures used in connection with the Property. Buyer shall determine
w ith :n t he Feasibility Period: (i ) w hether Seller will agree to terminate any obj ectionable Vendor Contracts; and (ii)
w hether Seller will agree to pay any damages or penalties result ing from the termination of obj ecti on able Vendor
Contracts. Buyer's w aiver of the Feasibility Cont ingency shall be deemed Buyer's accepta nce of all Ver:dor
Contracts which Seller has not agreed i n writi ng to term inate . Buyer shall be solely responsible for obtaining any
requ ired consents to such asswnpt ion and the payment of any assumption fees. Seller shall cooperat e with Buyer's
efforts to receive any such consents but shall not be required to incur any out-of-pocket expenses o r liab ility in doing
so. Seller shall transfer the Vendor Contracts as provided in Section 17.
INITIALS : Buye~ Date //-,28-/8 Seiler _______ Date ____ _
Buyer 0:'6' Da!e /2 -3 -/ L Sel:er _______ Da!e ___ _
Neil Walter Company
550 S Michigan St
Seattle, WA 98108
Phone :206 -787-1800
Fax: 206-787-1479
COMMERCIAL & INVESTMENT REAL ESTATE
PURCHASE & SALE AGREEMENT
(CONTINUED)
C> Commerc!ai Bro~ers ~
Associa1ion 201 1
ALL Ri:>HTS RESERVED .
GBA Fotm PS-1A
""cllase & Sale A~mer.t
Rev. ~1201 ~
Pa;je 3 of ~8
b. Access. Seller shall permit Buyer and its agents, at Buyer's sole expense and risk to enter the Property at
reasonable times subject to the rights of and after legal notice to tenants , to conduct inspections concerning the
Property and improvements, including without limitation, the structural condition of improvements, hazardous
materials , pest infestation, soils conditions , sensitive areas , wetlands, or other matters affecting the feasibil ity of the
Property for Buyer's intended use. Buyer shall schedule any entry onto the Property with Seller in advance and
shall comply with Seller's reasonable requ irements including those relating to security, confidentiality, and disruption
of Seller's tenants. Buyer shall not perform any invasive testing including environmental inspections beyond a phase
I assessment or contact the tenants or property management personnel without obtaining the Seller's prior written
consent, which shall not be unreasonably withheld. Buyer shall restore the Property and improvements to the same
condition they were in prior to inspection. Buyer shall be solely responsible for all costs of its inspections and
feasibility analysis and has no authority to bind the Property for purposes of statutory liens. Buyer agrees to
indemnify and defend Seller from all liens, costs, claims, and expenses, including attorneys' and experts' fees,
arising from or relating to entry onto or inspection of the Property by Buyer and its agents. This agreement to
indemnify and defend Seller shall survive closing. Buyer may continue to enter the Property in accordance with the
foregoing terms and conditions after removal or satisfaction of the feasibility contingency only for the purpose of
leasing or to satisfy conditions of financing.
c. Buyer waives the r ight to receive a seller disclosure statement ("Form 17-Commercial") if required by RCW
64.06. However, if Seller would otherwise be required to provide Buyer with a Form 17 -Commercial, and if the
answer to any of the questions in the section of the Form 17-Commercial entitled "Environmental" would be "yes,"
then Buyer does not waive the receipt of the ·Environmental" section of the Form 17 -Commercial which shall be
provided by Seller.
6. TITLE INSURANCE.
a. Title Report. Seller authorizes Buyer, its Lender, Listing Broker, Selling Broker or Closing Agent, at Seller's
expense, to apply for and deliver to Buyer a !:81 standard C extended (standard, if not completed) coverage owner's
policy of title insurance. If an extended coverage owner's policy is specified , Buyer shall pay the increased costs
associated with that policy including the excess premium over that charged for a standard coverage policy, and the
c<;>st of any survey required by the title insurer. The title report sha lf be issued by First American Title and Escrow,
Bruce Judson (a title company of Seller's choice , if not completed). If Seller previously received a prelimjnary
commitment from a title insurer that Buyer declines to use, Buyer shall pay any cancellation fee owing to the original
title insurer. Otherwise , the party applying for title insurance shall pay any title cancellation fee, in the event such
a fee is assessed.
b; Permitted Exceptions. Buyer shall notify SeHer of any objectionable matters in the title report or any
supplemental report within the earlier of: (1} twenty (20) days after Mutual Acceptance of this Agreement ; or (2) the
expiration of the Feasibility Period. This Agreement shall terminate and Buyer shall receive a refund of the earnest
money, less any costs advanced or committed for Buyer , unless within five (5) days of Buyer's notice of such
objections (1} Seller agrees , in writi ng , to remove all objectionable provisions or (2} Buyer notifies Seller that Buyer
waives any objections which Se ll er does not agree to remove. If any new title matters are disclosed in a
supplemental t itle report, then the preceding termination, objection and waiver provisions sha tl apply to the new title
matters except that Buyer's notice of objections must be delivered within five {5) days of delivery of the supplemental
report and Seller's response or Buyer's waiver must be delivered within two (2) days of Buyer's notice of objections.
The closing date shall be extended to the extent necessary to permit time for these r.otices. Buyer shall not be
required to object to any mortgage or deed of trust liens, or the statutory lien for real property taxes , and the same
shall not be deemed to be Permitted Exceptions; provided, however, that the lien securing any financing which
Buyer has agreed to assumeshall be a Permitted Exception . Except for the foregoing , those provisions not objected
to or for which Buyer waived its objections shall be referred to collectively as the "Permitted Exceptions." Seller
shall cooperat · Buyer and the title compar.y to c lear objectionable title matters but shall not be required to
INITIALS: ;...s;,£-.-=:;..._ ___ Date /c~ 7'8 sener _______ oate ____ _
-b,_,._....._ ____ Date J 'L-3 -/ T Selle~ _______ Date -----
NEILWAIJER
i; 0 M P' ~ N 'f
COM M aRC I A l., Rll~L. •• TATIIt •DVICE;B
Neil WaHer Company
550 S Mich igan St
Seattle', WA 98108
Phone: 206-787-1800
Fax: 206-787-1479
COMMERCIAL & INVESTMENT REAL ESTATE
PURCHASE & SALE AGREEMENT
(CONTINUED)
!:> Commen:illl Brokera ~
AssOC:atloo 2011
AL;.. RIGHTS RESERVED
CBA Form ?S<A
P~~ase & Sa:e Agree me~
Rev, 1/201 1
Page 4 or ~B
incur any out-of-pocket expenses or liability other than payment of monetary encumbrances not assumed by Buyer
and proration of real property taxes , and Seifer shall provide an owner's affidavit containing the information and
reasonable covenants requested by the title company. The title policy shall contain no exceptions other than the
General Exclusions and Exceptions common to such form of policy and the Permitted EXcept ions.
7. CLOSING OF SALE. The sale shall be closed on the fortv fifth day following the date of the Option (Mutual
Acceptance date as defined in section 23J that this PSA is a part of. associated with the Lease between
Buyer and Seller dated November 20, 2018 ("C losing") by First American Title and Escrow. Bruce Judson
{"Closing Agent") (Seller shall select the Closing Agent, if not completed). Buyer and Seller shall deposit with Closing
Agent by 12:00 p.m. on the scheduled Closing date aU instruments and monies required to complete the purchase
in accordance with this Agreement. "Closing" shall be deemed to have occurred when the deed is recorded and the
sale proceeds are available to Seller. Time is of the essence in the performance of this Agreement. Sale proceeds
shall be cons idered available to SeHer , even though they cannot be disbursed to Seller until the next business day
after Closing. Notwithstanding the foregoing, if Seller informed Buyer during the Feasibil ity Period that Seller's
underlying financing requires that it be defeased and may not be paid off, then Clos ing shall be conducted in
accordance with the three-day closing process described in CBA Form PS_D. This Agreement is intended to
constitute escrow instructions to C losing Agent. Buyer and Seller will provide any supplemental instructions
requested by Clos ing Agent provided the same are consistent with this Agreement.
8. CLOSING COSTS AND PRORATIONS. Seller shall deliver an updated rent roll to Closing Agent not later than
two (2) days before the scheduled Closing date in the form required by Section S(a) and any other information
reasonably requested by Closi ng Agent to allow Closing Agent to prepare a settlement statement for Closing. Seller
certifies that the information contained in the rent roll is correct as of the date submitted. Seller shall pay the
premium for the owner's standard coverage title policy . Buyer shall pay the excess premium attributable to any
extended coverage or endorsements requested by Buyer, and the cost of any survey required in connection with
the same. Seller and Buyer shall each pay one-half of the escrow fees . Any real estate excise taxes shall be paid
by the party who bears primary respons ibility for payment under the applicable statute or code. Real and personal
property taxes and assessments payable in the year of dosing ; collected rents on any existing tenancies; interest;
utilities; and other operating expenses shall be pro-rated as of Closing. If tenants pay any of the foregoing expenses
directly , then Closing Agent shall only pro rate those expenses paid by Seller. Buyer shall pay to Seller at Closing
an additional sum equal to any utility deposits or mortgage reserves for assumed financing for which Bu yer receives
the benefit after Clos ing . Buyer shall pay all costs of financ ing i nclud ing the premium for the lender's t itle pol icy. If
the Property was taxed under a deferred classification prior to Closing , then Se ller shall pay all t axes, i nterest,
penalties, deferred taxes or similar items which result from removal of the Property f rom the deferred classifiCation.
At Closing, all refundable deposits on tenancies shall be credited to Buyer or delivered to Buyer for deposit in a
trust account if required by state or local law. Buyer shall pay any sales or use tax applicable to the transfer of
personal property included in the sale.
a. Unpaid Utility Charges. Buyer and Seller 0 WAIVE ~ DO NOT WAIVE (do not waive if ne ithe r box
checked} the r ight to have the Closing Agent disburse closing funds necessary to satisfy unpaid utility charges
affecting the Property pursuar.t to RCW 60.80 . If "do not waive" is checked , then attach CBA Form UA ("Utility
Charg es" Addendum ) to this Agreement.
9. POST-CLOSING ADJUSTMENTS, COLLECTIONS, AND PAYMENTS. After Closing, Buyer a nd Seller shall
recon cile the actual amount of reven ues or liabilities upon receipt or payment thereof to the extent those items were
prorated or credited at Clos ing based upon estimates . Any bills or invoices received by Buyer after Closing which
relate to services rendered or goods deliver ed to the Seller or the Property p rior to Closing shall be paid by Selle r
upon presentat ion of such bill or invoice. At Buyer's o ption , Bu yer may pay such bill or invoice and be reimbursed
the amount paid pl us interest at the rate of 12% p er annum beginn ing fifteen (1 5) days from the date of Buyer's
written dema Selle r fa rei mbu rsement until such reimbursement is made. Notwith standing the foregoing , if
INITIALS: Date //~-/8 s eller Date ____ _
___,_..-,.L_ ____ Date j 2 --s-1' -/'8': Sel ler _______ Date ____ _
NEIL WALTER
C OMPANY
Nell Walter Company
550 S Michigan St
Seattle, WA 98108
Phone: 206~787~1800
Fax: 20~787-1479
COMMERCIAL & INVESTMENT REAL ESTATE
PURCHASE & SALE AGREEMENT
(CONTINUED)
(!:) Comr:1erdal Broke:s ~
Assoclatioo 2011
ALL RiGHTS R::S!::RV!::>
C9A Form PS-1A
"vc!lase & Saie Agreemen~
Rev. 112011
?age 5 a1 ~8
tenants pay certain expenses based on estimates subject to a post-closing reconciliation to the actual amount of
those expenses, then Buyer shall be entitled to any surplus and shall be liable for any credit resulting from the
reconciliation. Rents collected from each tenant after Closing shall be applied first to rentals due most recently from
such tenant for the period after closing, and the balance shall be applied for the benefit of Seller for delinquent
rentals owed for a period prior to closing. The amounts applied for the benefit of Seller shall be turned over by
Buyer to Seller promptly after receipt. Seller shall be entitled to pursue any lawful methods of collection of del inquent
rents but shall have no right to evict tenants after Closing.
10. OPERATIONS PRIOR TO CLOSING. Prior to Closing, Seller shall continue to operate the Property in the o rdinary
course of its business and maintain the Property in the same or better condition than as existing on the date of
Mutual Acceptance but shall not be required to repair material damage from casualty except as otherwise provided
in this Agreement. After the Feasibility Period, Seller shall not enter into or modify existing rental agreements or
leases (except that Seller may enter into, modify, extend, renew or teiTl'l inate residential rental agreements or
residential leases in the ordinary course of its business), service contracts, or other agreements affecting the
Property which have terms extending beyond Closing without first obtai ning Buyer's consent, wh ich shafl not be
unreasonably withheld.
11. POSSESSION. Buyer shall be entitled to possession ~on closing C _(on closing, if not completed). Buyer
shall accept possession subject to all tenancies disclosed to Buyer during the Feasibility Period .
12. SELLER'S REPRESENTATIONS. Except as disclosed to or known by Buyer prior to the satisfaction or waiver of
the feasibility contingency stated in Section 5 above, including in the books, records and documents made available
to Buyer, or in the t itle report or any supplemental report or documents referenced therein, Seller represents to
Buyer that, to the best of Seller's actual knowledge, each of the following is true as of the date hereof: (a) Seller is
authorized to enter into the Agreement, to sell the Property, and to perform its obligations under the Agreement; (b)
The books, records, leases, agreements and other items delivered to Buyer pursuant to this Agreement comprise
all material documents in Seller's possession or control regarding the operation and cond ition of the Property; (c)
Seller has not received any written notices that the Property or the business conducted thereon violate any
applicable laws, regulations, codes and ordinances; (d) Seller has all certificates of occupancy, permits, and other
governmental consents necessary to own and operate the Property for its current use; (e) There is no pending or
threatened litigation which would adversely affect the Property or Buyer's ownership thereof after Closing; (f) There
is no pending or threatened condemnation or similar proceedings affectin g the Property, and the Property is not
within the boundaries of any planned or authorized local improvement d istrict; (g) Seller has paid {except to the
extent prorated at Closing) all local, state and federal taxes (other than real and personal property taxes and
assessments described in Section 8 above) attributable to the period prior to clos ing which, if not paid , could
constitute a lien on Property (including any personal property), or for which Buyer may be held liable after Closing;
(h) Seller is not aware of any concealed material defects in the Property except as discfosed to Buyer in writing
during the Feasibility Pe~iod; (i) There are no Hazardous Substances (as defined below) cu rrent ly located in, on, or
under the Property in a rnanner or quantity that presently violates any Environmental Law (as defined below); there
are no underground storage tanks located on the Property; and there is no pending or threatened i nvestigation or
remedial action by any governmental agency regarding the release of Hazardous Substances or the v iolation of
Environmental Law at the Property. As used herein, the term "Hazardous Substances" shall mean any substance
or material now or hereafter defined or regulated as a hazardous substance, hazardous waste, toxic substance,
pollutant, or contam inant under any federal, state, or local law, regu lation, or ordinance governing any substance
that could cause actual or suspected harm to humar. health or the environment ("Environmental Law"). The term
"Hazardous Substances" specifically includes, but is not limited to, petroleum, petroleum by-products , and asbestos.
If prior to Closing Seller or Buyer discovers any information which would cause any of the representations above to
be false if the same were deemed made as of the date of such d iscovery, then the party discovering the same sha!l
promptly notify the other party in writing. If the newly~discovered information will result in costs or liability to Buyer
INITIALS: Buy~ Date d~tlf? Seller Date----
Buyer \,5'-S Date / 1. --3 -fC Seller Date ____ _
NEII..WALl'ER
CQ M P A fll Y
COMM&Pu;::AL ft£AL 1:8TATX aaftvJCES
Neil Walter Company
550 S Michigan St
Seattle , WA 98108
Phone:206-787-1800
Fax:2~787-1 479
COMMERCIAL & INVESTMENT REAL ESTATE
PURCHASE & SALE AGREEMENT
(CONTINUED)
e COI!"IITIII:Qal Brokers ~
Assoelation 201 1
Al~ ~'GriTS RESERVED
CBA Fcnn PS-1A
PI.Te~ & Sa:e Agee:n!rl
Rev. 112C1~
"ageS ~18
in excess of the lesser of $100,000 or five percent (5%) of the purchase price stated in this Agreement, or wm
materially adversely affect Buyer's intended use of the Property, then Buyer shall have the right to terminate the
Agreement and receive a refund of its earnest money. Buyer shall give notice of termination within five (5) days of
discovering or receiving written notice of the new information. Nothing in this paragraph shall prevent Buyer from
pursuing its remedies against Seller if Seller had actual knowledge of the newly-discovered information such that a
representation provided for above was false.
13. AS-IS. Except for those representations and warranties specifically included in this Agreement: (i) Seller makes no
representations or warranties regard ing the Property; (ii) Seller hereby disclaims, and Buyer hereby waives, any
and all representations or warranties of any kind, express or implied, concerning the Property or any portion thereof,
as to its condition, value, compliance with laws, status of permits or approvals, existence or absence of hazardous
material on site, occupancy rate or any other matter of similar or dissim ilar nature relating in any way to the Property,
including the warranties of fitness for a particular purpose, tenantability, habitability and use; (iii) Buyer otherwise
takes the Property "AS IS ;" and (iv) Buyer represents and warrants to Seller that Buyer has sufficient experience
and expertise such that it is reasonable for Buyer to rely on its own pre-closing inspections and investigations.
14. PERSONAL PROPERTY.
a. This sale includes all right, title and interest of Seller to the following tangible personal property: ~ None
D That portion of the personal property located on and used in connection with the Property, which Seller will
itemize in an Exhibit to be attached to this Agreement within ten (10) days of Mutual Acceptance (None, if not
completed). The value assigned to the personal property shall be$ __ (if not completed , the County-assessed
value if available, and if not available, the fair market value determined by an appraiser selected by the Listing
Broker and Selling Broker). Seller warrants t itle to, but not the condition of, the personal property and shall convey
it by bill of sale.
b. In addition to the leases and Vendor Contracts assumed by Buyer pursuant to Section 5(a) above, this sale
includes all right, title and interest of Seller to the following intangible property now or hereafter existing with respect
to the Property including without limitation: all rights-of-way, rights of ingress or egress or other interests in, on , or
to, any land, highway, street, road , o r avenue, open or proposed, in, an, or across, in front of, abutting or adjoining
the Property; all rights to utilities serving the Property; alf drawings, plans, specifications and other architectural or
engineering work product; all governmental permits , certificates, licenses, authorizations and approvals; all rights,
claims, causes of action, and warranties under contracts with contractors, engineers, architects, consultants or
other parties associated with the Prope:ty; all utility, security and other deposits and reserve accounts made as
security for the fulfillment of any of Seller's obligations; any name of or telephone numbers for the Property and
related trademarks, service marks or trade dress; and guaranties, warranties or other assurances of performance
received .
15. CONDEMNATION AND CASUALTY. Seller bears all risk of loss until Closing, and thereafter Buyer shall bear the
risk of loss. Buyer may terminate this Agreement and obtain a refund of the earnest money if improvements on the
Property are destroyed or materially damaged by casualty before Closing, or if condemnation proceedings are
commenced against all or a portion of the Property before Closing. Damage will be considered material if the cost
of repair exceeds the lesser of $100,000 or f ive percent (5%) of the purchase price stated in this Agreement.
Alternatively, Buyer may elect to proceed w ith closing , in which case, at Closing, Seller shall assign to Buyer all
ciaims and right to proceeds under any property insurance policy and shall credit to Buyer at Closing the amount of
any deductible provided for in the policy.
16. FIRPTA -TAX WITHHOLDfNG AT CLOSING. Closing Agent is instructed to prepare a certification (CBA or
NWMLS Form 22E, or equivalent} that Seller is not a "foreign person• within the meaning of the Foreign Investment
in Real· Property Tax Act, and Seller shall sign it on or before Closing. If Seller is a fore ign person, and this
INITIAlS' &~
Buyer {t'-5
Date //-.;s--/75 Seller ______ Date ___ _
J "< -3 ~eller ______ Date ----Da~e
Neil Walter Company
550 S Mich igan St
Seattle, WA 981 08
Phone:206-787-1800
Fax: 206-787-1479
COMMERCIAL & INVESTMENT REAL ESTATE
PURCHASE & SALE AGREEMENT
(CONTINUED)
~ Cc:nme!'Ci al Brol<r.s ~
A5Sociatio~ 2011
AL:.. R!G:-tTS RESERVEC
CBA Fc:m PS-1A
Purc~aae & Saie Agree ment
Rev . 1120~~
Page 7 ~ 18
transaction is not otherwise exempt from FIRPTA, Closing Agent is instructed to withhold and pay the required
amount to the Internal Revenue Service.
17. CONVEYANCE. Title shai! be conveyed by a Statutory Warranty Deed subject only to the Permitted Exceptions. ff
this Agreement is for conveyance of Seller's vendee 's interest in a Real Estate Contract, the Statutory Warranty
Deed shall include a contract vendee's assignment suffic ient to convey after acquired title. At Closing , Seller and
Buyer shall execute and deliver to Closing Agent CBA Form No. PS-AS Assignment and Assumption Agreement
transferring all leases and Vendor Cont racts assumed by Buyer pursuant to Section 5(a)and all intangi ble property
t ransferred pursuant to Section 14{b).
18. NOTICES AND COMPUTATION OF TIME. Unless otherwise specified, any notice required or permitted in, or
related to, this Agreement (includ ing revocations of offers and counteroffers) must be in writing. Notices to Seller
must be signed by at least one Buyer and must be delivered to Seller and List in g Broker with a courtesy copy to
any other party identified as a recipient of notices in Section 28. A notice to Seller shall be deemed delivered only
when received by Seller, Listing Broker, or the licensed office of Listing Broker. Notices to Buyer must be signed by
at least one Seller and must be delivered to Buyer, w ith a copy to Selling Broker and with a courtesy copy t o any
other party identified as a recipient of notices in Sect ion 28. A not ice to Buyer shall be deemed delivered only when
received by Buyer, Selling Broker, o r the licensed office of Selling Broker. Selling Broker and Listing Broker have
no responsibility to advise of receipt of a notice beyond either phoning the represented party or causing a copy of
the notice to be delivered to the party's address provided in this Agreement. Buyer and Seller shall keep Selling
Broker and Listing Broker advised of their whereabouts in order to receive prompt notification of receipt of a notice.
If any party is not represented by a licensee, then notices must be delivered to and shall be effective when received
by that party at the address, fax number, or email indicated in Section 28.
Unless otherwise specified in this Agreement , any pe riod of time in this Agreement shall mean Pacific Time and
shall begin the day after the event starting the period and shall expire at 5:00 p.m . of the last calendar day of the
specified period of time, unless the last day is a Saturday, Sunday or legal ho liday as defined in RCW 1.16.050, in
which case the specified period of time shall expire on the next day that is not a Saturday, Sunday or legal holiday.
Any specified period offive (5) days or less shall not include Saturdays, Sundays or legal holidays. Notwithstanding
the foregoing, references to specific dates or t imes or number of hours shall mean those dates, times or nu m ber of
hours ; provided, however, that if the Clos ing Date falls on a Saturday, Sunday, or legal holiday as defined in RCW
1.16.050, or a date when the county recording office is closed , then the Closing Date shall be the next regular
business day.
19. AGENCY DISCLOSURE. At the signing of t his Agreement,
Selling Broker Fletcher Farrar an d Mike Rov of Neil Walter Companv
represented Buyer
and the Usting Broke r Joe Bauman of John L Scott Real Estate
represented ~-
Selling Fi rm , Selling Firm's Designated Broker, Selling Broke r's Branc h Manager (if any) and Selling Broker's
Managing Broke r (if any) represent the same party that Selling Broker represents. Listing Firm, Listing Firm 's
Designated Broker, listing Broker's B ranch Manager (if any), and Listing Broker's Managing Broker (if any}
represent the same party that the Listing Broker represents. If Selling Broker and Listing Broker are different
persons affiliated with the same Firm , then both Buyer and Seller confirm their consent to the Brokers' Designate d
Broker, B~anch Manager (if any), a nd Manag ing Broker (if any) re pre senting both pa rt ies as a dual age nt. If Sel!ing
Broker and Listing Broker a re the same person repre senting both parties , then both Buyer and Seller confirm their
consent to that person and h is/her Des ignated Broker, Branch Manager (if any), and Managing Broker (if any)
INITIALS ' B~ Dote ,4/~ ~ ..,., · Dote -----
Buyer S S Date /2 J -/?: Seller Da!e ___ _
NEIL WALTER
COM P ANY
Neil Walter Company
550 s Michigan St
Seattle, WA 98108
Phone: 206-787-1800
Fax: 206-787-1479
COMMERCIAL & INVESTMENT REAL ESTATE
PURCHASE & SALE AGREEMENT
(CONTINUED)
C> Commert::a: Broken """"'• / Assoc!atio~20 1 1 ~
ALL RIGHTS RESERVE:D
CBA Fo~ PS ·~A
P~rchase S. Sale Agreeme ~
Rev. 112011
Pa;e 8 It 18
representing both parties as dual agents. All parties acknowledge receipt of the pamphlet entitled "The Law of Real
Estate Agency."
20. ASSIGNMENT. Buyer D may ~ may not (may not, if not completed) assign this Agreement, or Buyer's rights
hereunder, without Seller's prior written consent, unless provided otherwise herein. If the "may not" option is
selected and the words "and/or ass igns" or similar words are used to identify the Buyer, then this Agreement may
be assigned with notice to Seller but without Seller's consent only to an entity which is controlled by or under
common control with the Buyer ident ified in this Agreement. Any other assignment requires Seller's consent. The
party identified as the initial Buyer shall remain respons ible for those obligations of Buyer stated in this Agreement
notwithstanding any assignment and , if this Agreement provides for Seller to finance a portion of the purchase price,
then the party identified as the initial Buyer shall guarantee payment of the Seller financing.
21. DEFAULT AND ATTORNEY'S FEE.
a. Buyer's default. In the event Buyer fails , without legal excuse, to complete the purchase of the Property, then
(check one):
~ Seller may terminate this Agreement and keep the earnest money as liquidated damages as the sole and
exclusive remedy available to Seller for such failure; or
0 Seller may, at its option, (a) terminate this Agreement and keep as liquidated damages the earnest money as
the sole and exclusive remedy available to Seller for such failure, (b) bring suit against Buyer for Seller's actual
damages, (c) bring suit to specifically enforce this Agreement and recover any incidental damages, or (d) pursue
any other rights or remedies available at law or equity.
b. Seller's default In the event Seller fails , withou t legal excuse, to complete the sale of the Property, then
(check one):
~ As Buyer's sole remedy, Buyer may either (a) terminate this Agreement and recover all earnest money or fees
paid by Buyer whether or not the same are identified as refundable or applicable to the purchase price; or (b) bring
suit to specifically enforce this Agreement and recover incidental damages, provided, however, Buyer must file suit
within sixty (60) days from the scheduled date of closing or from the date Seller has informed Buyer in writing that
Seller will not proceed with closing , whichever is earlier; or
D Buyer may, at its option , (a) bring suit against Seller for Buyer's actual damages, (b) bring suit to specifically
enforce this Agreement and recover any incidental damages, or (c) pursue any other rights or remedies available
at law or equity. ·
Neither Buyer nor Seller may recover consequential damages such as lost profits. If Buyer or Seller institutes suit
against the other concerning this Agreement, the prevailing party is entitled to reasonable attorneys' fees and
expenses. In the event of trial, the amount of the attorney's fee shall be fixed by the court. The venue of any suit
shall be the county in which the Property is located, and this Agreement shall be governed by the laws of the state
where the Property is located.
22. MISCELLANEOUS PROVISIONS.
a. Complete Agreement. This Agreement and any addenda and exhibits thereto state the entire understanding
of Buyer and Seller regarding the sale of the Property. There are no verbal or other written agreements which modify
or affect the Agreement.
b. Counterpart Signatures. This Agreement may be signed ir. counterpart, each signed counterpart shall be
deemed an original , and all counterparts together shall constitute one a:1d the same agreement.
c. Electronic Delivery. Electronic delivery of documents (e.g., transm:ssion by facsimile or email) including
signed offers or counteroffers and notices shall be legally sufficient to bind the party the same as del ivery of an
INITIALS o B~ D•!e .(/--;,t;3 ~ Sel"' 0.., -----
Buye~ l S: ) Date j 2... -3 .../ f= Se ller Da~e -----
NEIL WALTER
COMPA"NY
Neil Walter Company
550 S Michigan St
Seattle , WA 98108
Phone:2~787-1800
Fax : 206-787-1479
COMMERCIAL & INVESTMENT REAL ESTATE
PURCHASE & SALE AGREEMENT
(CONTINUED)
Cl Com~cial B."llkr.s ~ Assoclat~o.~ 20~ ~
All R!GHTS RES ERVED
CBA F=.1 PS-~A
.p .,.::r.ase & Sa!e ~-'1!
Rl!\·. ~120~1
Pa!;e 9 cf.18
original. At the request of either party, or the Closing Agent, the parties will replace electronically delivered offers
or counteroffers with original documents.
d. Section 1031 Like-Kind Exchange. If either Buyer or Seller intends for this transaction to be a part of a
Section 1031 like-kind exchange, then the other party agrees to cooperate in the completion of the like-kind
exchange so long as the cooperating party incurs no additional liability in doing so , and so long as any expenses
(including attorneys fees and costs) incurred by the cooperating party that are related only to the exchange are paid
or reimbursed to the cooperating party a t or prior to Closing. Notwithstanding Section 20 above, any party
completing a Section 1031 like-kind exchange may assign this Agreement to its qualified intermediary or any entity
set up for the purposes of completing a reverse exchange.
23. ACCEPTANCE; COUNTEROFFERS. Seller SHALL NOT ACCEPT NOR CONSIDER COUNTER OFFERS AT
ANY POINT IN TIME ONCE THIS AGREEMENT HAS BEEN EXECUTED. has ~;~ntil mi~night ef __ , 20 __
(if not fillea in, the thira e~;~siness aa~ felle·Ning the aay 8~;~yer aeli~rs the offer te assept th is offer, ~;~nless seener
w itharavm . If this ef:fer is not timely assepte9, it shall lapse and the earnest meney shall ee rerun de~ te Buyer. If
either party makes a fut~;~r:e se~;~nteref:fer, the other party shall have ~:.~nti15:00 p.m. on the __ ~~;~s i ness aay (if not
filre9 in , tl:!e sesond ~~siness da~ foiiOl.ving resoipt to assept tl:!e co~ntereffer, ~;~nless seener withdrawn. If the
so~;~nteroffer is net timely acsepteel or co~;~ntereel, this Agreement shall lapse ana the earnest FRaney shall ~e
ref~nded to tt:le Bl:lyer. Ne acce"'tance, ef:fer er seblnteref:fer from the B~yer is ef:festive ~;~ntil a signed copy is received
~y the Seller, the bisting Braker or the license~ office of the bisting Braker. No asceptance , offer er se~nteraf:fer
frem tt:le Seller is effective ~ntil a signee sopy is FeseiveEI lay tt:le 8~yer, the Selling Breker or the lisensee office of
the Selling Broker. "Mutual Acceptance" shall occur ON THE DATE ON WHICH BUYER PROVIDES NOTICE
THAT BUYER IS EXERCISING THE OPTION TO BUY REAL ESTATE THIS PSA IS A PART OF, ASSOCIATED
WITH A LEASE BETWEEN BUYER AND SELLER DATED NOVEMBER 20, 2018. when the last so~;~ntereffer is
signee lay tl:le offeree, and the f~;~lly signed se~nterof:fer has i:leen receiv~el ~y tt:le ef:ferer, his or l:ter ~raker, er the
lisensed offise of tl=le ereker. If any party is not represented by a broker, then notices must be delivered to and shall
be effective when received by that p~rty .
24. INFORMATION TRANSFER. In the event th is Agreement is terminated , Buyer agrees to deliver to Seller within
ten (10) days of Seller's written request copies of all materials received from Seller and any non-privileged plans,
studies, reports, inspections, appraisals, surveys, drawings, permits, applications or ot her development work
product relating to the Property in Buyer's possession or control as of the date t his Agreement is terminated.
25. CONFIDENTIALITY. Until and unless closing has been consummated, Buyer and Seller shall follow reasonable
measures to prevent unnecessary d isclosure of information obtained in connection with the negotiation and
performance of this Agreement. Neither party shall use or knowingly permit the use of any such information in any
manner detrimental to the other party.
26. SELLER'S ACCEPTANCE AND BROKERAGE AGREEMENT. Seller agrees to sell the Property on the terms
and conditions herein, and further agrees to pay a commission in a total amount computed in accordance with the
listing or commission agreement. If there is no written listing or commission agreement, Seller agrees to pay a
commission of _ll/o of the sales price or $NIA. The commission shall be apportioned between Listing Firm and
Selling Fi rm as specified in the listing o r any co-br okerage agreement. If there is no listing or w ritten co-brokerage
agreement, then Listing Fi r m shall pay to Selling Firm a coni mission of 1% of the sales price or $nla. Seller ass igns
to listing Firm and Selling Firm a portion of the sales proceeds equal to the commission. IF SELLING FIRM HAS
ALREADY BEEN PAID THIS PROT!ON OF THE COMMISSION PER T HE COMMISSION LANGUAGE IN THE
OPTION T O BUY REAL ESTATE, THE COMMISSION DUE AT CLOSING SHALL BE ADJUSTED TO REFLECT
THAT PAYMENT. If the earnest money is retained as liquidated damages, any costs advanced or comm itted by
Listing F irm or Selling Firm for Buyer or Seller shall be reimbursed o r paid t herefrom , and the balance shall be paid
one-half to Seller and one-half to Listing F irm and Selling F irm according to the listing ag reement and any co-
brokerage ~n any action by. Listing Firm or Selling Firm to enforce th is Section , the prevailing party is
INITIALS : Buy~ Date 1/-dB-;/f!l Seller Date . ____ _
Buyer \5'..$ Date /2 ,..3 /!J= Seller Date -----
NEILWAlJER
(.CMPANY
Nell Walter Company
550 S Michigan St
Seattle , WA 98108
Phone :2~787-1800
Fax: 20~787-1479
COMMERCIAL & INVESTMENT REAL ESTATE
PURCHASE & SALE AGREEMENT
(CONTINUED)
c Co~merCal Brokers ~
Association 2011 .
A~L R!G;.jTS RESERV ED
CBA Form P$-1A
FVc:1ase & Sa:e Agreemert
Rev. 112011
0 sge 10 of 18
entitled to reasonable attorneys' fees and expenses. Neither Listing Firm nor Selling Firm are rece1vrng
compensation from more than one party to this transaction un less disclosed on an attached addendum , in which
case Buyer and Seller consent to such compensation. The Property described in attached Exhibit A is comme rcial
real estate. Notwithstanding Section 25 above, the pages containing this Section , the parties' s ignatures and an
attachment describ ing the Property may be recorded : ·
27. LISTING BROKER AND SELLING BROKER DISCLOSURE. EXCEPT AS OTHERWISE DISCLOSED IN
WRITING TO BUYER OR SELLER, THE SELLING BROKER, LISTING BROKER, AND FIRMS HAVE NOT MADE
ANY REPRESENTATIONS OR WARRANTIES OR CONDUCTED ANY INDEPENDENT INVESTIGATION
CONCERNING T HE LEGAL EFFECT OF THIS AGREEMENT, BUYER 'S OR SELLER 'S FINANC IAL STRENGTH,
BOOKS , RECORDS , REPORTS , STUDIES , OR OPERATING STATEMENTS ; THE CONDITION OF THE
PROPERTY OR ITS IMPROVEMEN TS; THE FITNESS OF THE PROPERTY FOR BUYER'S INTENDED USE ;
OR OTHER MATTERS RELATING TO THE PROPERTY, INCLUDING WITHOUT LIMITATION , THE
PROPERTY'S ZONING, BOUNDARIES, AREA, COMPLIANCE WITH APPLICABLE LAWS (INCLUDING LAWS
REGARDING ACCESSIBILITY FOR DISABLED PERSONS), OR HAZARDOUS OR TOXIC MATERIALS
INCLUDING MOLD OR OTHER ALLERGENS. SELLER AND BUYER ARE EACH ADVISED TO ENGAGE
QUALIFIED EXPERTS TO ASSIST WITH THESE DUE DILIGENCE AND FEASIBI LI TY MATTERS, AND ARE
FURTHER ADVISED TO SEEK INDEPENDENT LEGAL AND TAX ADVICE RELATED TO THIS AGREEMENT.
Date //F;76'-;/8Serrer ____ Da!e __ _
:Ja!e /:2.. -d --/y:sener _______ Date ___ _
Nell Walter Company
550 S Michigan St
Seattle, WA 98108
Phone: 206-787-1800
Fax : 206-787-1479
C Comme~ial ~ers ~
Association 20~ ~
ALL RIGHTS RESERVED
CBA Fonn EMt\
E1\1 ?·omiuo:y Note
Rev. 112011
Page11 of18
EARNEST MONEY PROMISSORY NOTE
28. IDENTIFICATION OF THE PARTIES. The following is the contact information for the parties involved in this
Agreement:
Contact: John Stacy
Address:
Business Phone:
Mobile Phone:
Fax:
Email: johns@comptonlbr.com
Selling Firm
Name: Neil Walter Companv
Assumed Name (If applicable) : __
Selling Broker: Fletcher Farrar and Mike Rov
Address: 550 S Michigan St
Seattle, WA 98108
Business Phone: 206-787-1800
Mobile Phone:
Contact:
Address:
Business Phone:
Mobile Phone:
Fax:
Email:
Listing Firm
Name: John L Scott Real Estate
Assumed Name (if applicable) :_
Listing Broker: Joe Bauman
Address:
Business Phone:
Mobile Phone:
Email:
Email: ffarrar@nellwalter.com; mrov@neilwalter.com Fax:
Fax: MLS Office No .:
MLS Office No.:
Licensed Office of the Selling Broker Licensed Office of the Listing Broker
Address: Address:
Business Phone: Business Phone:
Email: __ . Email:
Fax: Fax:
CBA Office No.: CBA Office No.:
Courtesy Copy of Notices to Buyer to: Courtesy Copy of Notices to Seller to:
Name: Name:
Address: Address:
Business Phone: Business Phone:
NEIL WALTER
:OM~AN'Y
COMMERCIAL REAL.. ESTATE SaRVICI:S
Neil Walter Company
550 S Michigan St
Seattle, WA 98 108
Phone: 206-787-1800
Fax: 206-787-1479
e Cor:1mer::ia~ Brokers ~I./
A5soclaCon 20 11 lJil{'
A:.~ R!GHTS RESERVE:>
CBA For::; PS-1A
Pu~ase & Saie Agree~ent
~ev. 112C~1
Page 12 01 18
COMMERCIAL & INVESTMENT REAL ESTATE
PURCHASE & SALE AGREEMENT
(CONTINUED)
Fax: Fax:
Mobile Phone: Mobile Phone:
Email: Email:
IN WITNESS WHEREOF , the parties have signed this Agreement intending to be bound .
Buyer~ Buyer __
l(inted name and type of entity
Buyer~~~ ~ ~ Sig ture arldtitie
Printed name and type of entity
Buyer ______________________________ _
Sig nature and title
Date signed ---------------------Date signed---------------------
Seller .Lf/Lwl< F~;)7 z~TI/~IIy' tic Seller
Printed name nd type of ent1ty Printed name and type of entity
Date signed /J-2[3 $ Date signed ------------------
INITIALSo B•y£2'_. __ -___ Da!e
Buyet.S:S
//z28 --jg SeUer_--'-___ :::>ate __ _
/2 -. i ...,/r: Seller _______ Date ___ _ Date
NEILWAL1'ER
:~MPAMf
COMM&H.Cl AL. RIE'AL ESTATE .BRYICES
Neil Walter Company
550 S Michig an St
Seattle, WA 98108
Phone: 206-787-1800
Fax:206-787-1479
COMMERCIAl & INVESTMENT REAl ESTATE
PURCHASE & SALE AGREEMENT
(CONTINUED)
EXHIBIT A *
[Legal Description]
PARCEL DATA
!) C<>"'--ner.ial 9rokera ~
Assoc!at:on 2!:11
ALL RIGhTS RESERVED
CaA Form PS<A
Pu:-..hase & Sale Ag,eemert
Rev. ~/201~
Pa~e 13 0118
Parcel
Name
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Buyer and Seller Hereby authorize Closing Agent to insert Legal Description if different f rom above_
INmALSo """'~ Buyer'~
Date
Date
I
//;?!i-/8 Seller _________ Date _____ _
12-.3 -/T SeUe~ ________ Da!e ____ _
COMME RC&A.L PIEAL ESTAT!t •&:AVI Cil8
Neil Walter Company
550 S Mich igan St
Seattle, WA 98 108
Phone:2~787-1BOO
Fax:206-787-1479
UTILITY CHARGES ADDENDUM
C 3A Text Disclaimer: Text deleted by licensee 'n:l:camd by strike.
New text inserted by licensee indicated by small capilaii~:'S .
c Cc:nmercia! Brokers ~ .~2:!11
All RIGH!'S RESERVED
CBA Form PS-1A
f'l...7.as&&Sa;eAg~
Rev. 1 1201~
Page ~4 of ~8
The foll owi ng is part of the Purchase and Sale Agreement dated November 20, 2018 between Hawk Family East Valley LLC ("Seller")
and Stacy Hol dings LLC. dba Compton Lumber ("Buyer") concern ing 294()..2990 East Vaflev Rd, Renton. WA (the "Property").
Pursuant to RCW 60.80, Buyer and Seller request the Clos ing Agent to admi nister the disbursement of closing funds necessary to satisfy
unpa id utili ty ch arges affecti r.g the Property. The r.ames and add resses of all utiliti es providing service to the Property and having lien
rights are as fo llows : /7 ~ I /) ~ .-Y-.
Water D's t rid.: { __...tL., ~ ~
lrr:g atlon D:strict:
Garbage:
Electricity :
Gas:
Special D !s trict(s):
(local im provement dislric!s
c~ utility local improveme nt)
Nam e ~C'(,
Address
C ity, &tate, Zip
Nam e
Address
City, State, Zip
Name
Address
City. State, Z\p
Name
Address
Add:-ess
C ity, Stale, Zi p
Name
Adcress
City, State, Zi ;:
Name
Addres s
City, State, Zip
;F TH E A80IIE :NFORMA-:lON HAS NOT BEEN F:UE:> :~AT THE TIME OF MUTI:AI. ACCEI'TA.~CE CF -:li:S AGREEMEN'", NEN (I ) WITHN _DAYS (5 CAYs IF NOT A UED IN) OF MtJTlMt.l. ACCEPT A. 'ICE CF ll'lS
A3RE!OtiB;T,SEU.ER SI1Ali.PROIIIDETHEUS11MlBROKER,SEWNG B~OKER,O!ICl.CS:NGAGEtr."W:T!;7!£NA.IIESANDA:x>RESSEsOFA:LUT:lJ1VPROV:DERB HAVINGUENRIGHr81\FFECTiNG T£?ROPERTY
Al!D (2) BUYER MD BE:J.E!~ AUoHORIZE USTI NG BRoKE.~. SELUNG BROKER OR ctOSI.'>G AGENT TO !NSERT ~NOO 7HIS AC~ENDUM THE No\'o£8 A.'ll ~ESSES OF THE ur.;.:-ry PRO\IIDERS !DE!>ITIFiEO BY
SELLER. SELLER ACKNCl'M.EOOES ~HAT THS ADDEt.a;ll :lOEB NO':" RE"•IEVE SELLE~ OF !7S 09UGA7'~ TO PAY JriL:TY CHARGES. 8ll.LEO OR U."BlL~ED OR EVDENCEO BY A RECOR:JEC LIEN OR so-:-. T;<E
PARTJES ~NDERSTAND 7~T NEITHE~ USTING BROKER !'IDOl SEWNG B!'ICKER IS RES~NIULE FOR PAV:NG UTILITY CHAW-l ES OR FOR I~SlJRJNO ':"~.AT T~EY ARI; PAl:) BY M 'Y OTH ER PERSON.
INITIALS: Se ller _________ Date _____ _
Seller _________ Date ------
NEIL\IIA' 'J'ER Neil Wa~te~ Company
: 0 M v~. ~ }i y 550 s MIChigan St
ca.~.~ .. ::.~•AL .. e:AL o:eTATK .... VIco:s Seattle, WA 981 08
Phone: 206-787-1800
Fax: 206-787-1479
SELLER: Hawk Familv East Va/leyLLC
SELLER DISCLOSURE STATEMENTt
COMMERCIAL PROPERTY
C Comme rcia ; Brokers ~ ~ /
Association 20•2 l.J:J('
All Rights Reserved
CBA F()(m 17 -Ccr.:rr.e.rc!ai
Se:!er Disclos ure Stateme:1t -
Corr:merc!a l
Rev. 6/12
Pail& 15 en e
t To be used in transfers of commercial real estate as defined in RCW 60.42.005. See RCW Chapter 64.06 for further
explanations.
lL~STRUCTIONS TO THE SELLER
Please complete the following form. Do not leave any spaces blank. If the question clearly does not apply to the property write
"~A." If the answer is ''yes" to any asterisked (*) item(s), please explain on attached sheets. Please refer to the line number(s) of
the question(s) when you provide your explanation(s). For your protection you-must date and initial each page of this disclosure
statement and each attach.'1lent. Delivery of the disclosure statement must occur not later than five (5) business days, unless otherwise
agreed, after mutual acceptance of a written purchase and sale agreement between Buyer and Seller .
.1\"'0TICE TO THE B l.JYER
THE FOLLOWIXG DISCLOSlJRES ARE MADE BY SELLER ABOlJT THE CONDITION OF THE PROPERTY
LOCATED AT 2940-2990 East ValeyRd CITY Renton COL"NTY !Si!Jg, ("THE PROPERTY") OR AS LEGALLY DESCRIBED
ON THE A IT ACHED EXHIBIT A. SELLER MAKES THE FOLLOWING DISCLOSURES OF EXISTING MATERIAL FACTS
OR MATERIAL DEFECTS TO BUYER BASED ON SELLER'S ACTUAL KNOWLEDGE OF THE PROPERTY AT THE TIME
SELLER COMPLETES THIS DISCLOSURE STATEMENT. m..LESS YOU AND SELLER OTHERWISE AGREE IN
WRITIKG, YOU HAVE THREE (3) BUSINESS DAYS FROM THE DAY SELLER OR SELLER'S AGENT DELIVERS
THIS DISCLOSURE STATEMENT TO YOU TO RESCIND THEAGREEMEKTBYDELIVERINGASEPARATELY
SIGNED WRITTEN STATEMENT OF RESCISSIO~ TO SELLER OR SELLER'S AGE~T. IF THE SELLER DOES NOT GIVE
YOU A COMPLETED DISCLOSURE STATEME~i, THEN YOU-MAY WAIVE THE RIGHT TO RESCIND PRIOR TO OR
AFTER THE TIME YOU ENTER INTO A PL"R.CHASE A~"D SALE AGREEMENT.
THE FOLLOWING ARE DISCLOSURES MADE BY SELLER AND ARE NOT THE REPRESENTATIONS
OF ANYREALESTATELICENSEEOROTHERPARTY. THISINFORMATIOKISFORDISCLOSUREONLY AND
IS NOT INTENDED TO BE A PART OF ANY WRITTEN AGREEMENT BETWEEN BUYER AKD SELLER.
FOR A MORE COMPREHENSIVE EXAMINATION OF THE SPECIFIC CO~DITION OF THIS
PROPERTY YOU ARE ADVISED TO OBTAIN AND PAY FOR THE SERVICES OF QUALIFIED EXPERTS
TO INSPECT THE PROPERTY, WHICH MAY INCLUDE, WITHOUT LIMITATION, ARCHITECTS,
ENGINEERS , LAND SURVEYORS , PLDMBERS, ELECTRICIANS , ROOFERS, BUILDING I~SPECTORS,
ON-SITE WASTEWATER TREATMENT INSPECTORS, OR STRUCTuRAL PEST INSPECTORS. THE
PROSPECTIVE BUYER AND SELLER MAY WISH TO OBTAIN PROFESSIOKAL ADVICE OR
INSPECTIONS OF THE PROPERTY OR TO PROVIDE APPROPRIATE PROVISIO~S IN A CONTRACT
BETWEEN THRM WITH RESPECT TO A~Y ADVICE, I~SPECTION, DEFECTS OR WARRANTIES.
Seller u is/ ~s not occupying the property.
I. SELLER'S DISCLOSURES:
"' If you answer "Yes" to a question with an asterisk (*), please explain your answer and attach documents, if available and
not otherwise publicly recorded. If necessary, use an attached sheet.
l. TITLE
A. Do you have legal authority to sell the property? If no, please explain.
*B . Is title to the property subject to any of the following?
(1) First right of refusal
(2) Option
(3) Lease or rental agreement
(4) Life estate?
*C. Are there any encroachments, boundary agreements, or boundary disputes?
*D. Is there any leased parking?
*E. Is there a private road or easement agreement for access to the property?
YES
r/
CJ
[J
CJ
D
Cl
CJ
Cl
~0 DON'T
K.~OW
Cl u
,a 0 ~ D
:J if [J
" u ~ 0
(J
SELLE R'S INITIALS :..[} y
{/
D ATE:/) r27 ~ /8 SELLER'S INITIALS : _____ DATE:-----
NEILUIA' 'TER Nell Wa~te~ Company
,: c M Y~1 ~ N r 550 S M1ch1gan St
c oMMIUtcr ...... -REALII•TATitsa:IW!cEe Seattle, WA 98108
:> Commercial Brokers
Association 2012
All Rights ReserVed
CBA Fonn 17-Commercial
Sei:e~ Disclosure State~en~ •
Commercial
Re\·. si12
?ace 16 of18
2.
3 .
4.
5.
6,
Phone:206-787-1800
Fax: 206-787-1479
SELLER DISCLOSURE STATEMENTt
COMMERCIAL PROPERTY
*F. Are there any rights-of-way, easement, shared use agreements or limitations?
*G. Are there any written agreements for joint maintenance of an eas.ement or right-of-way?
*H. Are there any zoning violations or nonconforming uses?
*I. Is there a survey for the property?
* J. Are there any legal actions pending or threatened that affect the property?
*K. Is the property in compliance with the Americans with Disabilities Act?
WATER
*Are there any water rights for the property, such as a waier right permit, certificate, or claim?
SEWER/ON-SITE SEWAGE SYSTEM
*Is the property subject to any sewage system fees or charges in addition to those covered
in your regularly billed sewer or on-site sewage system maintenance service?
STRUCTURAL
*A. Has the roof leaked within the last 5 years?
*B. Has any occupied subsurface flooded or leaked within the last five years?
*C. Have there been any conversions, additions or remodelin~?
*(1) If yes, were all building permits obtained?
*(2) If yes, were all fmal inspections obtained?
*D. Has there been any settling, slippage, or sliding of the property or its improvements?
*E. Are there any defects with the following: (If yes , please check applicable items and explain.)
Q Foundations D Slab Floors
Q Doors Q Outbuildings
Q Ceilings [J Exterior Walls
Q Sidewalks u Siding
Cl Interior Walls :! Other
Q Windows
SYSTEMS AND FIXTURES
*A. Are there any defects in the following systems? Ifyes, please explain.
(1) Electrical system
(2) Plumbing system
(3) Heating and cooling systems
(4) Fire and security system
(5) Carbon monoxide alarms
ENVIRONMENTAL
*A. Have there been any flooding, standing water, or drainage problems on the property that
affect the property or access to the property?
*B. Is there any material damage to the property from fire, wind, floods, beach movements,
earthquake, expansive soils, or landslides?
*C. Are there any shorelines, wetlands, floodplains, or critical areas on the property?
SELLER'S TNITIALP DA1E' ,b/.-.2 Z-/f3smu;F!s INITIALs,
YES NO
[J ~
D e
Q Q
0 u
Q rM'
Q Q
Q -i
u
8 D
Q Q
0 u
Q 0
0 Cl
Q ~
Q Q
D ::l
[J D
Q D
0 D
Q Q
;J (J
0 ~
(J -a
~ D
DA1E:
DON'T
KNOW
iJ
J
~
Q
Dl
::l
rM
~
~
Q
~
r:l
ia
~ ~ ~
[J
u
IJ
NE[LllfAI'TER Nell Wa~e~ Company
YV. L. 550 S MIChigan St
C OMPP.N'f co ~oo m c!ALREALESTATEBERVICEB Seattle, WA 98108
Phone: 206-787-1800
Fax: 206-787-1479
SELLER DISCLOSURE STATEMENTt
COMMERCIAL PROPERTY
*D. Are there any substances, materials, or products in or on the property that may be
environmental concerns, such as asbestos, formaldehyde, radon gas, lead-based paint,
fuel or chemical storage tanks, or contaminated soil or water?
*E. Is there any soil or groundwater contamination?
*F. Has the property been used as a legal or illegal dumping site?
*G. Has the property been used as an illegal drug manufacturing site?
7. FULL DISCLOSL"RE BY SELLER
A. Other conditions or defects:
*Are there any other existing material defects affecting the property that a
C Commercia: Brckers ""'./ Associatio:~2C~2 lJ:SI( .
All Rights Reserve::l
CBA Form 17 -Commercial
Selie~ <:lisdosure State~er.! -
Ccmmercial
Rev. 6/12
?age 17 of ~8
YES ~0 DO~'T
Ki~OW
prospective buyer should know about? Q
B. Verification
The foregoing answers and attached explanations (if any) are complete and correct to the best of Seller's knowledge
and Seller has received a copy hereof. Seller agrees to defend, indemnify and hold real estate licensees harmless from
and against any and all claims that the above information is inaccurate. Seller authorizes real estate licensees, if any, to
deliver a copy of this disclosure statement to other real e state licensees and all prospective buyers of the property.
Dme~7-~ Seller:=~t Date:
Seller:
:riOTICE TO BUYER
SEX OFFENDER REGISTRATION
1.1\'FORMATION REGARDL~G REGISTERED SEX OFFENDERS MAY BE OBTAL~ED FROM LOCAL LAW
ENFORCEMENT AGENCIES. THIS NOTICE IS INTENDED ONLY TO Th"FORM YOU OF WHERE TO OBTAIN
THIS INFOR...'\1ATIO~ AND IS NOT AN ~DICATION OF THE PRESENCE OF REGISTERED SEX
OFFENDERS.
IT. BUYER'S ACKNOWLEDGEMENT
Buyer hereby acknowledges that:
A. Buyer has a duty to pay diligent attention to any m aterial defects that are known to Buyer or can be known to Buyer by
utilizing diligent attention and observation.
B. The disclosures set forth in this statement and in any amendments to this statement are made only by Seller and not by
any real estate licensee or other party.
C. Buyer acknowledges that, pursuant to RCW 64.06.050(2), real estate licensees are not liable for inaccurate information
provided by Seller, except to the extent that real estate licensees know of such inaccurate information.
D. This information is for disclosure only and is not intended to be a part of the written agreement between Buyer and
Seller.
E. Buyer (which term includes all person s signing the "Buyer's acceptance" portion of this disclosure statement below)
has received a copy of this Disclosure Statement (including attachments, if any) bearing Seller's s ignature(s).
SELLER'S !NITIALS:.frfti
C/
DATE: 1/-d. 7-16 SELLER'S INITIALS: _____ .DATE:-----
NEIL\AIA' 'TER Nell Wa~te~ Company nJ L. 550 s MIChigan St
--a.:!;_: ..;;,O_M:;;__:,P....;;.,A ...,:N:........:.....Y
c cMM" .. "'"'-REAL trnAn uRVJco:• Seattle, WA 98108
Phone: 206-787-1800
Fax: 206-787-1479
SELLER DISCLOSURE STATEMENTt
COMMERCIAL PROPERTY
=Commercia! Brokers rttro.. .• ./ · ·
Assoc!a~io1 2:l12 lJSil
Ail Rights Rese~ed
CBA Form 17-Commercia:
Se :ler Disclosure Sta!eme1t-
Cern Mere! a )
Rev. 5/12
?age ~8 of 18
DISCLOSt}RES CONTAINED IN THIS DISCLOSL'RE STATEMENT ARE PROVIDED BY SELLER BASED Ol\ SELLER'S
ACTUAL KNOWLEDGE OF THE PROPERTY AT THE TIME SELLER COMPLETES THIS DISCLOSURE STATEMENT.
l.JNLESS BUYER AND SELLER OTHERWISE AGREE IK WRITING, BUYER SHALL HAVE THREE (3) BUSINESS DAYS
FROM THE DAY SELLER OR SELLER'S AGENT DELIVERS THIS DISCLOSURE STATEMENT TO RESCIND THE
AGREEMENT BY DELIVERING A SEPARATELY SIGNED WRITTEN STATEMENT OF RESCISSION TO SELLER OR
SELLER'S AGENT. YOL" ~ Y WAIVE THE RIGHT TO RESCIND PRIOR TO OR AFTER THE TIME YOU ENTER INTO A
SALE AGREEME!'\T.
BUYER HEREBY ACK.~OWLEDGES RECEIPT OF A COPY OF THIS DISCLOSURE STATE:\ffiNT A..'ND
ACKl\OWLEDGES THAT THE DISCLOSURES MADE HEREIN ARE THOSE OF THE SELLER O~'LY, Ar-..TI NOT OF
ANY REAL ESTATE LICE}'I;SEE OR OTHER PARTY.
::: ~ ~!:! DATE: )2_ -.5 -/JV
BUYER:
BUYER'S WAIVER OF RIGHT TO REVOKE OFFER
Buyer has read and reviewed the Seller's responses to this Seller Disclosure Statement Buyer approves this statement and
waives Buyer's right to revoke Buyer's offer based on this disclosure.
DATE: DATE:
BUYER: ------------------------------BUYER:
BL'YER'S WAIVER OF RIGHT TO RECEIVE COMPLETED SELLER DISCLOSURE STATEMENT
Buyer has been advised of Buyer's right to receive a completed Seller Disclosure Statement. Buyer waives that right.
However, if the answer to any of the questions in the section entitled "Environmental" would be ''yes," Buyer may not waive the
receipt of the "Environmental" section of the Seller Disclosure Statement.
DATE: DATE:
BG~R: ------------------------------BUYER:
SELLER'S INITIALStf22! DATE: ;j.J(Z·/6sELLER'S rNITIALS: ____ .DATE: ___ _