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HomeMy WebLinkAboutSP-Exceptions 059a_2013080100221920130801002219.001 s CHICAGO TITLE INS. CO. REF# Boll 5-6 When Recorded Return To: Central Puget Sound Regional Transit Authority Real Property Division 401 S.Jackson Street Seattle, WA 98104 2013086 KING COUNTY, WA 02219 DOCUMENT TITLE: Agreement Related to Easement Rights REFERENCE NUMBER(S) OF RELATED DOCUMENTS: 9601231152 GRANTOR/BORROWER: Longacres Park, Inc., a Washington corporation GRANTEE/ASSIGN EE/BENEFICIARY: Central Puget Sound Regional Transit Authority, a Washington Regional Transit Authority LEGAL DESCRIPTION: Portions of Lots 4, 5, and 7 of the Boeing Longacres Property Binding Site Plan according to the plat thereof recorded in Volume 228 of Plats Pages 22 through 28, inclusive, as filed under Recording No. 20030221002404, and as amended under Recording Nos. 20040108000164 and 20050504000673, records of King County Washington, more particularly described on Exhibit A. ASSESSOR'S PARCEL NO(S).: 088670-0040-06; 088670-0050-03; 088670-0070-09 20130801002219.002 Agreement Related to Easement Rights This Agreement Related to Easement Rights ("Agreement") is entered into as of August 1, 2013 by and between Longacres Park, Inc., a Washington corporation ("LPI"), and Central Puget Sound Regional Transit Authority, a Washington regional transit authority ("ST"). Factual Background A. LPI is the owner of certain real property located in King County, Washington, described in Exhibit A to this Agreement (the "Property") B. LPI and ST are parties to a Real Estate Purchase and Sale Agreement (the "PSA") pursuant to which LPI will convey the Property to ST through a Statutory Warranty Deed recorded concurrently with this Agreement (the "Deed"). C. The Property is subject to a certain Easement Agreement dated January 10, 1996 and recorded in the records of King County under recording number 9601231152 (the "Easement Agreement") pursuant to which the grantee thereunder (together with its successors and assigns, the "Grantee") has the right to park up to 750 cars on property of LPI, including the Property, and the right of ingress to and egress from said property, including the Property, both under certain conditions, which as of the date of this Agreement have not been met. LPI does not believe that such conditions will be met at any time in the foreseeable future. D. In order to provide assurance to ST that ST's use and enjoyment of the Property will not be adversely affected by the Easement Agreement, LPI and ST have entered into this Agreement. Agreements For and in consideration of the mutual agreements of the parties and for other good and valuable consideration, the receipt and sufficiency of which is hereby acknowledged, LPI and ST hereby agree as follows. 1. Factual Background..LPI and ST confirm that the statements set out in the Factual Background, above, are true and correct and form the basis for the agreements of the parties under this Agreement. ST's Rights under the Easement Agreement. ST agrees that, although the rights of the Grantor under the Easement Agreement are conveyed to ST by the Deed, ST will not exercise any rights of the "Grantor" under the Easement Agreement except for the rights of the Grantor under Section 6 (Insurance) and Section 7 (indemnification) of the Easement Agreement. 3. LPI and ST Actions. If the Grantee exercises its rights under the Easement Agreement or threatens to do so in a manner that either LPI or ST reasonably believes would adversely affect ST's ability to use and enjoy the Property, LPI will promptly take such actions as may be necessary to assert the rights of the Grantor under the Easement Agreement to relocate the Easement Area (as defined in 20130801002219.003 the Easement Agreement) and to relocate the Easement Area so that it excludes the Property. ST will take such actions as LPI may reasonably request to cooperate with LPI to accomplish such relocation. LPI will reimburse ST for any out-of-pocket costs it incurs in connection with such actions. In addition, LPI will indemnify, defend, and hold harmless ST from and against any and all costs incurred by ST prior to the said relocation of the Easement Area as the result of the assertion by the Grantee of its rights under the Easement Agreement as such rights relate to the Property. ST shall provide written notice to LPI as soon as is practical following the time at which ST becomes aware of any such costs, shall permit LPI to defend or settle any claims by or against the Grantee in connection therewith, and will cooperate with LPI in any such defense or settlement. 4. Notices. Any notice by one parry to the other under this Agreement shall be delivered in the manner and to the addresses provided for in the PSA. 5. Miscellaneous. This Agreement will be effective immediately upon execution and delivery by the parties. This Agreement may be executed in multiple counterparts, each of which shall be deemed an original, but all of which, together, shall constitute but one and the same instrument. This Agreement shall be governed by the law of the State of Washington, without reference to its choice of law rules. This Agreement supersedes any prior agreements, negotiations and communications, oral or written, with respect to the treatment of the Easement Agreement as it relates to the Property and contains the entire agreement between, and the final expression of, LPI and ST with respect to the subject matter of this Agreement No subsequent agreement, representation, or promise made by either party hereto, or by or to an employee, officer, agent or representative of either party hereto shall be of any effect unless it is in writing and executed by the party to be bound thereby. 6. Run with the Land. This Agreement touches and concerns the Property, runs with the land, and shall benefit and bind the successors and assigns of LPI and ST. Grantor: Longacres Park, Inc. Grantee: Central Puget Sound Regional Transit Authority By: ' G% l3 By: Name: Stmen E. Sahlinger U XX:. tUgfWft Approved as to form: Sound Transit legal counsel Name: Its: 20130801002219.004 STATE OF WASHINGTON ) 4 COUNTY OF ) On this c�29'1 day of 2013, before me, the undersigned notary public in and for the State of Washington,.duly comrMssioned and sworn, personally appeared to me known to be the RAMpIll-4M f LONGACRES PARK, INC., a Washington corporation, the party that executed the foregoing instrument, and acknowledged said instrument to be the free and voluntary act and deed of said party, for the uses and purposes therein mentioned, and on oath stated that he/she was duly authorized to execute the same. WITNESS my hand and official seal hereto the day an ear' this Certific first above written. IN. Notary Public State of Washington ARLENE C RICE My Appointment Expires Aug 15. 2016 STATE OF WASHINGTON ) 1§ COUNTY OF KING ) On this day of and for the State of Washington, Signature: Notary Public in and for the State if Washington Notary (print name) 11122(Q"P.n� . 1'C 2 Residing at My appointment expires: . 2013, before me, the undersigned notary public in duly commissioned and sworn, personally appeared to me known to be the of CENTRAL PUGET SOUND REGIONAL TRANSIT AUTHORITY, a regional transit authority, the authority that executed the foregoing instrument, and acknowledged said instrument to be the free and voluntary act and deed of said authority, for the uses and purposes therein mentioned, and on oath stated that he/she was duly authorized to execute the same. WITNESS my hand and official seal hereto the day and year in this Certificate first above written. Signature: Notary Public in and for the State of Washington Notary (print name) Residing at My appointment expires: 20130801002219.005 the Easement Agreement) and to relocate the Easement Area so that it excludes the Property. ST will take such actions as LPI may reasonably request to cooperate with LPI to accomplish such relocation. LPI will reimburse ST for any out-of-pocket costs it incurs in connection with such actions. In addition, LPI will indemnify, defend, and hold harmless ST from and against any and all costs incurred by ST prior to the said relocation of the Easement Area as the result of the assertion by the Grantee of its rights under the Easement Agreement as such rights relate to the Property. ST shall provide written notice to LPI as soon as is practical following the time at which ST becomes aware of any such costs, shall permit LPI to defend or settle any claims by or against the Grantee in connection therewith, and will cooperate with LPI in any such defense or settlement. 4. Notices. Any notice by one party to the other under this Agreement shall be delivered in the manner and to the addresses provided for in the PSA. 5. Miscellaneous. This Agreement will be effective immediately upon execution and delivery by the parties. This Agreement may be executed in multiple counterparts, each of which shall be deemed an original, but all of which, together, shall constitute but one and the same instrument. This Agreement shall be governed by the law of the State of Washington, without reference to its choice of law rules. This Agreement supersedes any prior agreements, negotiations and communications, oral or written, with respect to the treatment of the Easement Agreement as it relates to the Property and contains the entire agreement between, and the final expression of, LPI and ST with respect to the subject matter of this Agreement No subsequent agreement, representation, or promise made by either parry hereto, or by or to an employee, officer, agent or representative of either party hereto shall be of any effect unless it is in writing and executed by the party to be bound thereby. 6. Run with the Land. This Agreement touches and concerns the Property, runs with the land, and shall benefit and bind the successors and assigns of LPI and ST. Grantor: Grantee: Longacres Park, Inc. Central Puget Sound Regional Transit Authority By: By: Name: Name: Its: Its: F'Yo/LiiVL Nrzetvv- Approved as to form: Sound Transit legal counsel 20130801002219.006 STATE OF WASHINGTON ) COUNTY OF ) On this day of , 2013, before me, the undersigned notary public in and for the State of Washington, duly commissioned and sworn, personally appeared to me known to be the of LONGACRES PARK, INC., a Washington corporation, the party that executed the foregoing instrument, and acknowledged said instrument to be the free and voluntary act and deed of said party, for the uses and purposes therein mentioned, and on oath stated that he/she was duly authorized to execute the same. WITNESS my hand and official seal hereto the day and year in this Certificate first above written. Signature: Notary Public in and for the State of Washington Notary (print name) Residing at My appointment expires: STATE OF WASHINGTON ) COUNTY OF KING ) On this - -11- day of c:NA4,d. 2013, before me, the undersigned notary public in and for the State of Washington,uly commissioned and sworn, personally appeared vra c4 Cazu_I to me known to be the ja A&:f1ye t0je-ai tu- of CENTRAL PUGET SOUND REGIONAL TRANSIT AUTHORITY, a regional transit authority, the authority that executed the foregoing instrument, and acknowledged said instrument to be the free and voluntary act and deed of said authority, for the uses and purposes therein mentioned, and on oath stated that he/she was duly authorized to execute the same. WITNESS my hand and official seal hereto the day and year in this Certificate first above written. Signature: l` Li; �, ���`�%t&QL- 11 it, Notary Public in and for the State of Washington •�• �qN\\\11111 •�I Notary (print name) EVanSThoms own P o i r Residing at S� W5 s. V- ��'+.yg My appointment expires: 1. 3 •2OI�J 20130801002219.007 EXHIBIT A LEGAL DESCRIPTION OF THE PROPERTY Portions of Lots 4, 5, and 7 of the Boeing Longacres Property Binding Site Plan according to the plat thereof recorded in Volume 228 of Plats Pages 22 through 28, inclusive, as filed under Recording No. 20030221002404, and as amended under Recording Nos. 20040108000164 and 20050504000673, records of King County Washington, more particularly described as follows: That portion of Lot 4 commencing at the southeast corner of said Lot 4; thence along the south line of said Lot 4, S 89.59'25" W a distance of 397.76 feet to a point, said point being 50.00 feet easterly of (when measured perpendicular to) the easterly margin of the BNSF Railroad right-of-way, said point also being the True Point of Beginning of this described portion of Lot 4; thence continuing along said south line, S 89°59'25" W a distance of 50.03 feet to said easterly margin of said railroad right-of-way; thence along said easterly margin, N 02°06'22" E a distance of 207.47 feet; thence S 87053'37" E a distance of 50.00 feet to a line, said line being parallel with and 50.00 feet easterly of said easterly margin of said railroad right-of-way; thence along said parallel line, S 02°06'22" W a distance of 205.63 feet to the True Point of Beginning. TOGETHER WITH that portion of Lot 5 commencing at the southeast corner of said Lot 5; thence along the south line of said Lot 5, S 89°59'25" W a distance of 213.20 feet to a point, said point being 50.00 feet easterly of (when measured perpendicular to) the easterly margin of the BNSF Railroad right-of- way, said point also being the True Point of Beginning of this described portion of Lot 5; thence continuing along said south line, S 89°59'25" W a distance of 50.03 feet to said easterly margin of said railroad right-of-way; thence along said easterly margin, N 02°06'22" E a distance of 672.79 feet to the north line of said Lot 5; thence along said north line, N 89°59'25" E a distance of 50.03 feet to a line, said line being parallel with and 50.00 feet easterly of said easterly margin of said railroad right-of-way; thence along said parallel line, S 02°06'22" W a distance of 672.79 feet to the True Point of Beginning. TOGETHER WITH that portion of Lot 7 commencing at the northeast corner of said Lot 7; thence along the north line of said Lot 7, S 89°59'25" W a distance of 213.20 feet to a point that is 50.00 feet easterly of (when measured perpendicular to) the easterly margin of the BNSF Railroad right-of-way, said point also being the True Point of Beginning of this described portion of Lot 7; thence continuing along said north line, S 89'59'25" W a distance of 50.03 feet to said easterly margin of said railroad right-of-way; thence along said easterly margin, S 02°06'22" W a distance of 333.19 feet; thence S 87"53'36" E a distance of 50.00 to a line that is parallel with and 50.00 feet easterly of said easterly margin of said railroad right-of-way; thence along said parallel line N 02°06'22" E a distance of 335.03 feet back to the true point of beginning.