HomeMy WebLinkAboutRC 9709160975 n e 1
ti 4
• LT
d 1
- n
cn
r.-
c
WHEN RECORDED RETURN TO:
Office of the city clerk
Renton Municipal Building /
200 Mill Avenue South e
Renton,WA 98055
RCP
it—
SEPp
2 .997 8
KING CC i
RECCE N7y
RESTRICTION
THIS RESTRICTION (the "Restriction") is made as of July 29, 1997, by
RENTON GARDEN HOTEL COMPANY, LLC, a California limited liability company o
("Owner") for the benefit of the City of Renton (the "City").
RECITALS
A. Owner is the owner of Parcel 8 and Parcel 9 of the City of Renton Short Plat
No. LUA-97-032-SHPL, recorded under Recording No. 9707099006, Volume 115, Page 263
e.4 of the Official Records of King County, Washington (Tax Account Nos. 334040-3331 and
Q'? 334040-3330, respectively) (the "Property").
B. Owner intends to construct a 4 story, 150 unit hotel on the Property (the
"Project"), which will extend across the common lot line between Parcels 8 and 9.
C. The City approved the Project by an Administrative Site Plan Approval &
Environmental Review Committee Staff Report dated May 20, 1997 (the "Report"). As a
condition of such approval, the Report requires that prior to the issuance of building permits
for the Project, Owner record a covenant restricting the independent sale or financing of
Parcel 8 or Parcel 9.
D. Owner desires to restrict the independent sale of Parcel 8 and Parcel 9 as
required by the Report.
NOW THEREFORE, in consideration of the foregoing recitals, and other
valuable consideration, the receipt and sufficiency of which is hereby acknowledged, Owner
agrees as follows:
SF1-275412.V2 1
•
1. Sale Restriction. For so long as any structure on the Property extends
across the common lot line between Parcel 8 and Parcel 9, the Property may only be sold,
transferred or conveyed as a unified whole.
2. Successors and Assigns. This Restriction shall be binding upon the
Owner and its successors and assigns, and shall operate as a restriction running with the
land.
3. Constructive Notice and Acceptance. Every person or entity who now
or hereafter owns, occupies, or acquires any right, title, or interest in or to any portion of
the Property is and shall be conclusively deemed to have consented and agreed to the
restriction contained herein, whether or not any reference to this Restriction is contained in
the instrument by which such person or entity acquired an interest in the Property.
4. Rights of Mortgagees. No breach of the restriction herein contained,
or any enforcement thereof, shall defeat or render invalid the lien of any mortgage or deed of
trust now or hereafter executed upon the Property; provided, however, that Parcel 8 and
Parcel 9 may not be separately encumbered and that any purchaser at a foreclosure sale
under the provisions of any deed of trust or mortgage and its successors and assigns shall
hold any and all property so purchased subject to this Restriction.
IN WITNESS WHEREOF, Owner has executed this Restriction as of the day
and year first above written.
OWNER:
RENTON STUDIO HOTEL COMPANY, LLC,
a California limited liability company
CT3 By:
Karl K. Hoagland,`III U
,*„4 Its Managing Member
SF1-275412.V2 2
-
STATE OF CALIFORNIA )
ss.
COUNTY OF MARIN )
On K vA- tt tin) , before me, J Y`e-
a Notary Public in and for said State, personally appeared KARL
K. HOAGLAND, III, e - = = proved to me on the
basis of satisfactory evidence) to be the person(s) whose names-)
is/are subscribed to the within instrument and acknowledge to me
that he/sire-fthey executed the same in his/h_ r authorized
capacity(tes) , and that by his/he herr signature(s_) on the
instrument the person(s) , or the entity upon behalf of which the
person(s) acted, executed the instrument.
WITNESS my hand and official seal.
[SEAL] Signature
14,
COMM.o 1053313 z
44!! '1 Notary E'ut ve—o C.�aMfanni®
fel C®t1�iiY
NV Comm.Expires MAR I6,i
t;D -