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Home My WebLink AboutA 7209060458 � . i r.�. � �iC� /� G �� :� - L Y � r � �:T�� " � REAL ESTATE CONTRACT THIS CONTRACT,made and entered into this .3 � day of AUgUS t� 19�2 between �,], B. WILLIAMS alzd LUCILLE D. WILLIAMS � his wife hereinafter calied the"seller," ar►d CITY OF K�;NTON, a Municipal Corporation .�.. _ t70 � .�.� hereinafter called the"purchaser," � WITNFSSETH: That the seller agrees to sell to the purchaser and the purchaser agrees to purchase from the seller the following � described real estate, with the appurtenances, in K1ng County, State of Washington: 0 N Lot 16and the South 6 feet of Lot 17 , in Block 10 , of Town of � Renton, as per plat recorded in Volume 1 of Plats , page 135 , records of King County; EXCEPT the West 5 feet thereof condemned for alley purposes in � King County Superior Court Cause No . 87129 as provided by Ordinance � No. 272 of the City of Renton O� M � � � The terms and conditions of this contract are as follows: The purchase price is Thirty �.'WO Thousand Five Hundred and no/100- - .- - - - - - - - - - �$ 32 ,500 . 00 ) Doii�, of which Twelve Thousand Five Hundred and no/100- - - - - « 12 , 500 .00 ) �Ilarshave _ been paid,the receipt whereof is hereby aclmowledged, and the balance of said purchase price shall be paid as follows: The balance of $20 , 000 . 00 to be paid in four annual payments of $5, 000 . 00 , or more, at purchaser's. option, together with interest at the_ rate of 6% per .annum. The first such payment to be made by January 31, 1974 and annually tl�eafter by the � 3�st day of January. Seller has the right to remain in possession of the premises up to I January 12 , 1973 , and thereupon Seller shall vacate said premises in good condition, order and repair. � - i • Al1 payments so made shall be applied first on interest accrued up to date, balance on principal. _ ,�,,,�,,,r,� � '�`, -,�•'��7.-, � � �'�� A�.� ��,� ��, r'-� t�lt/,�y��(,i... � . .�:' -i .'Y .`=� � c, 'i, , ' �y . ..''J . l�i .f " .. . + � :'dd. 'cs , ' � � � SEP-;6,i97�a� ' "��a'��f��,�.�, `,'- -� "1 J. R. WiL�.IAli4� -�,.,., , �_' ,,�. _ +r�v�cauNr Qtnra, � � �:�,'�� '� � a� ., All payments to be made hereunder shall be�made at �-�"�� Ab ex' �71 ` or at such other place as the seller may direct in writing. - As referred to in this contract,"date of closing" shall be__.J�]3.ua.Y'�Z__:L5_�_ 19 7 3 . , (1) The purchaser assumes and agrees to pay before delinquency all taxes and assessments that may as between grantor and grantee hereafter become a lien on said real estate; and if by the terms of this contract the purchaser has assumed payment of any mortgage, " contract or other encumbrance,or has assumed payment of or agreed to purchase subject to, any taxes or assessments now a lien on said real estate,the purchaser agrees to pay the same before delinquency. (2) The purchaser agrees, until the purchase price is fully paid, to keep the buildings now and hereafter placed on said real estate � insured to the actual cash value thereof against loss or damage by both fire and windstorm in a company acceptable to the seller and for , , the seller's benefit, as his interest may appear; and to pay all premiums therefor and to deliver all policies and renewals thereof to the seller. ` (3) The purchaser agrees that full inspection of said real estate has been made and that neither the seller nor his assigns shall be held ' ' to any covenant respecting the condition of any improvements thereon nor shall the purchaser or seller or the assigns of either be held to � any covenant or agreement for alterations, improvements or repairs unless the covenant or agreement relied on is contained herein or is � , in writing and attached to and made a part of this contract. (4) The purchaser assumes all hazards of damage to or destruction of any improvements now on said reai estate or hereafter placed thereon,and of the taking of said real estate or any part thereof for public use; and agrees that no such damage, destruction or taking shall � „ constitute a failure of consideration. In case any part of said real estate is taken for public use, the portion of the condemnation award _ remaining after payment of reasonable expenses of procuring the same shall be paid to the seller and applied as payment on the purchase t', price herein unless the seller elects to allow the purchaser to apply all or a portion of such condemnation award to the rebuilding or restora- tion of any improvements damaged by such taking. In case of damage or destruction from a peril insured against, the proceeds of such insurance remaining after payment of the reasonable expense of procuring the same shall be devoted to the restoration or rebuilding of such improvements within a reasonable time, unless purchaser elects that said proceeds shall be paid to the seller for application on the . purchase price herein. ' (5) The seller has delivered, or agrees to deliver within 15 days of the date of closing, a purchaser's policy of title insurance in standard form, or a commitment therefor, issued by Transamerica Title Insurance Company, insuring the purchaser to the full amount of said purchase price against loss or damage by reason of defect in seller's title to said real estate as of the date of closing and containing no exceptions other than the following: • � a. Printed general exceptions appearing in said policy form; . b. Liens or encumbrances which by the terms of this contract the purchaser is to assume, or as to which the conveyance hereunder is to be made subject; and c. Any e�astiag contract or contracts under wluch seller is purchasing said real estate, and any mortgage or other obligation, which seller by this contract agrees to pay,none of which for the purpose of this paragraph (5) shall be deemed defects in seller's title. FORM 570 A-1964 IND-WO � `�ai _ _ , � � s v � t T� .n �` "' 'F` '' � (6) If seller's title to said real estate is subject to an existing contract or contracts under wluch seller is purchasing said real estate, or any mortgage or other obligation,which seller is to pay, seller agrees to make such payments in accordance with the terms thereof, and upon default, the purchaser shall have the right to make any payments necessary to remove the default, and any payments so made shall be applied to the payments next falling due the seller under this contract. (9) The seller agrees, upon receiving full payment of the purchase price and interest in the manner above specified, to execute and � deliver to purchaser a statutory warranty deed to said real estate,excepting any part tbereof hereafter � taken for public use,free of encumbrances except any that may attach after date of closing through any person other than the seller, and �. subject to the following: 0 � , � Transamerica Title Insurance Report No . 421076 O N . � (8) Unless a different date is provided for herein, the purchaser shall be entitled to possession of said real estate on date of closing . and to retain possession sn long as purchaser is not in defaplt hereunder.The purchaser covenants to keep the buildings and other unprove- ments on said real estate in good repair and not to permit waste and not to use, or permit the use of, the real estate for any,iilegal purpose.The purchaser covenants to pay all service,installation or construction charges for water,sewer,electricity, garbage or other utility services furnished to said real estate after the date purchaser is entitled to•possession. (4) In case the purchaser fails to make any payment herein provided or to maintain insurance,as herein required,the seller may make such payment or effect such insurance,and any amounts so paid by the seller, together with interest at the rate of 10°fo per annum thereon from date of payment until repaid, sha11 be repayable by purchaser on seller's demand, all without prejudice to any other right the seller might have by reason of such default. (10) Time is of the essence of this contract, and it is agreed that in case the purchaser sha11 fail to comply with or perform any condition or agreement hereof or to make any payment required hereunder prompUy at the time and in the manner herein required, the seller may elect to declare ali the purchaser's rights hereunder terminated, and upon his doing so, all payments made by the purchaser hereunder and all improvements placed upon the real estate shall be forfeited to the selier as liquidated damages, and the seller shail have right to re-enter and take possession of the real estate; and no waiver by the seller of any default on the part of the purchaser shall be construed as a waiver of any subsequent default. Service upon purchaser of all demands,notices or other papers with respect to forfeiture and termination of purchaser's rights may be made by United States Mail, postage pre-paid, return receipt requested, directed to the purchaser at his address last known to the seller. (11) Upon seller's election to bring suit to enforce any covenant of this contract, including suit to coUect any payment required hereunder,the purchaser agrees to pay a reasonable sum as attorney's fees and all costs and expenses in connection with such suit, which sums shall be included in any judgment or decree entered in such suit. If the seller shall bring suit to procure an adjudication of the termina.tion of the purchaser's rights hereunder, and judgment is so entered,the purchaser agrees Yo•pay a reasonable sum as attorney's fees and all costs and expenses in connection with such suit, and also the reasonable cost of searching records to determine the condition of title at the date such suit is commenced, which sums shall be included in any judgment or decree entered in such suit. IN WITNESS WHEREOF, the parties hereto have executed tlus instrument as of the date first written�above. C I TY 0 F REN TO N, a Mun i c ipal -: --�-r -l�./.' .. ..,.� - _ ._- -.--.---=--- --------=-`-----------.....�sEnL> : l�.11 �ms ��,/� Corporation ( / - �'/� ��--�- f�/f _ J ' ' � ...""..��Z+'<�' A ,l_. ��.•.(�`�-�h�-a�•---••••....•••••(SEAL) {� � By " Lu`cille D. �illiams �,.� Njay ..._.._..�--------.._.---........._.._........-----�-----•-----..._-------------•--------�-----..........(sE,u.> � ��. . . �x--�' ................._.......---...-----.(sEnL) /` •. ._....-••••-•••-••••••••••••-••-•••••-•.....................••-- /' � `"` City Clerk �"�-��-�� K�F;Vi� �,�TUN, �- . �-,�" F�,.:"" -"a�n,, �• ., r "q ��kr Lt._ .'«.��.°�'�..�Y��7f^"'`1�'1T1�o� I +.�•z- °��r r,,<..� a. . Cx � ••, u � �"�,iV�,� ��,' ,appeared before me W. B . Williams and Lucille D. Williams , �'aa " � -; �,.:�. � �.��+��, o°- Q ,'�;a��¢`k��n��.E�� dividual g described in and who eaecuted the within and foregoing instrument, and acknowledged that � �'�''`_,�r�t. _ signed the same as their free and voluntary act and deed, for the uses and purposes ,.,''"+t�ii' '. Cp therein mentioned. t.fl Q GIVEN under my hand and official seal this �� day of AU US t� 19 7 2 .r? � _ � , � ..._._..•••••••-•• ...._....•••••••...•-•...• • •••••--••••••_............ ................••••-••- � Notasy ublic in and for the Statt of Washington, � t`-- . ., rtstdingat......._.....�.�T1t.Q7.7...._...........••••._.._.....•••....--••_••••-•••••......_. � � P ! O � :-^----------------------------------------- � Transamerica T�tle Insurance Co � T�i15 SPACE RESERVED FOR RECORDER'S USE: i ' ' �[�t�i��S ' ...M.� � � A Service of � � i , � Transa•merica Corporation ; "'`"'- �'�--� __ ; I . � - _ `� � � '--� ' �r-'i�� i i � ' I � . , � c�. � � � I ' I� `-' i �.� a�.�; � �� t� � � � �f.;ti � � Filed f r Record at Requ� st of , ; � �} ,, .,, - � � �� . � Nam ----. ... . �.1--f---•�=Y\�••...................................................... � � � tC'TC i � `�--•�---��-�--�-•��--�- � � �.Et�S � � ^ � � � �'ii��' ��y� r �-E�i ii.�i�„�,' ; � i.�'�i'f Address ................•••--•--••--•--••----•...•----..... , , �:��,Sr?. ' � ; '�tL�� --- �...��--• �.�------------------------------- � ' City and State--••--=----...�:. __ �.: --• � � -•-••---.. ........ � � "i- � '-----------------------------------------�