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Home My WebLink AboutParcel_15 Argo Renton LLC giWGroup Northwest Diary of Right of Way Activities ® Acquisition ❑ Relocation Assistance ❑ Property Management R/W No.: 15 Phone No.: Owner: Adam Lofgren: Property Manger Argo Renton LLC 415-945-2479 Alofgren@argoinvest.com Tax Parcel No.: Other: Business: 149450-0050 Dayna Desmond, Director of Asset Albertsons Management 415-945-2473 —Office 415-328-1438—Cell ddesmond@n,argoinvest.com Location of Subject: 4601 NE Sunset Blvd,Renton Mailing Address of Subject: 101 Larkspur Landing Circle, Suite 120,Larkspur, CA 94939 Date Activities 11/1/19 Parcel assigned to Sonja Davis, Senior Acquisition Agent,RES Group NW 11/5/19 Received a phone call from Adam Lofgren, property manager for the ownership, Argo Renton Investment LLC. He confirmed that he received a project letter from the City of Renton and asked that all future communication be sent to him. I described the scope of the project in general terms and told him that their property impacts will be appraised by an independent appraiser. Mr. Lofgren gave me permission to pass along his contact information to anyone who has property related questions. 4/14/20 The City's offer sent to Adam Lofgren's attention electronically via email and originals via USPS mail. The City of Renton's offer of$72,000 consisted of$24,000 for 2,917 Sf of land in Right of Way Easement, $20,000 for 4,819 SF of land in Temporary Construction Easement, and $28,000 for impacted site improvements. Following acquisition documents were attached for their review: 1. Offer Letter 2. Real Estate P&S Agreement 3. ROW Easement 4. Temporary Construction Easement 5. Appraisal Report Received an out of the office email from Mr. Lofgren but received a confirmation email from Dayna Desmond, follow by a voicemail stating that she and the ownership would like to have a conference call. A conference call was coordinated for 1PM. Conference call with Dayna Desmond, Director of Asset Management, Argonaut Investments, LLC, and Stephen Jager, managing member. Right out the gate Mr. Jager asked if their parking will be impacted and I replied that the current parking and the configuration will not be impacted,I explained the project in detail and the property impact to subject property by the project. I explained that this is a pavement preservation project along"Duvall Ave NE"and as part of the project the City will repave the road,update the sidewalk, add a bike lane and will be updating/replacing some utilities that serves their property and the vicinity of the project alignment. I asked them if they had a chance to review the offer packet and the appraisal report and Ms. Desmond replied that they have not had a chance due to COVID-19, they have to working and putting out fires with their commercial tenants on various different properties. She replied that she will review within the next few days. Mr. Jager stated that they will not stand in the way of the City's project and are willing to work with the City but asked that I look into an issue they've had several years ago with the City when they try to build an additional retail pad facing the NE portion of their property. He stated that the City had wanted them to as part of the development approval process to do surface water mitigation,at the time estimated at over$2 million,and became cost prohibitive for them pursue at the time with their plans. They have since addressed the surface water issue on the property and would like to revisit the development of the property. I replied that they can't not make that a condition of this negotiation and because planning and permitting is a completely different department,I was not sure what I can find out,but I will inquire within the City. 4/21/20 Email sent requesting additional background information on the development of the retail pad related issue. In response, Mr. Jager forwarded several email correspondences they have had with the City of Renton in 2015 and 2016 regarding the Storm Water requirements for Central Highlands. Shared the emails with the City. 4/24/20 Following email sent to owner providing response for the Storm Water related issue. Stephen and Dayna, I have relayed the information you've provided to the City's public works department and they have spoken with the City's Development Engineering Manager, Brianne Bannwarth and her contact information is below. She will be happy to work with you to get the necessary information to address your concerns. BRL4NNE BANNWARTH, P.E. I Development Engineering Manager Community&Economic Development Department I Planning Division City of Renton 11055 S. Grady Way I Renton WA 98057 BBannw•varth(a.Rentonwa.gov I will check back with you next week to see how your review of the City's offer is going. 5/1/20 Email owner requesting status of review of the City offer. Email response from the owner stating, "Sonja can we pls make it an even TOOK and we can move forward with approval" Email response back to owner with following response, "The goal of the City is to acquire the necessary property rights to construct this vital project using the public funds. The City is accountable to both the State and the public for the use of the funds for the project. Any additional compensation must be supported, docznnented,justified, and reasonable. If you disagree with the City's offer valuation,please provide a counter proposal with market support for the difference. " 5/12/20 Email sent to owner requesting for a decision on how they would like to proceed in response to the City's offer. Email response from the owner with acceptance, "Sure we are happy to accept and work with the City. 5/14/20 Email sent to owner notifying them that the City has opened an escrow to assist in closing the transaction and attached the seller disclosure form to be filled out and returned with lender information. Also requested for a copy of their LLC agreement and signing authority document. Immediate email response from the owner stating that they are not able to get lender consent right now. They need to have the documents reviewed by their attorney. Email reply explaining that the any acquisition over $10,000 will have to go through lender approval,per WSDOT guidelines for all the acquiring agencies. I told them that I will get an approval on attorney fees. After consulting the City, I emailed the owner requesting for an estimated attorney fees for reviewing because they would like to provide a pre-approval. Mr. Jager replied "$100k". 5/19/20 Follow up email sent to owner requesting for an estimate for attorney fee for reviewing documents. 5/20/20 Email response from the owner stating that they are turning the matter over to their attorney and they estimate the legal fees to be approximately 20K. They confirmed that they will forward all appropriate billing documents will be forwarded. • Response email to owner stating the following, "Per Washington State law Chapter 8.25, link below, the agency is responsible to reimburse the owners up to 8750. The City of Renton is doing their best to be amicable and responsible for fees incurred by this transaction. Please note all , reimbursable fees will have accompany with a detailed invoice showing the details of the work performed. The City cannot approve a blanket 520k, please have your attorney provide a reasonable fee associated with their review of the documents only. Also provided them with the link to the RCW. Email from Dayna Desmond requesting PSA, TCE, and Easement document in Word so they can move forward with having their attorney to red-line requested changes. She stated that$750 will not be enough for their attorney review, she confirmed that they are willing to cooperate but perhaps first draft a letter of understanding to address attorney fee before they proceed. Emailed requested documents in Word. 5/22/20 Emailed Seller disclosure form to be filled out with lender information and return. Email received from owner's attorney, Ross Guttenberg, stating that it is premature to approach their lender for approval and consent at this time. He will require the City to agree to soft cap of $10,000, not to exceed, and if legal fees will exceed $10,000, not without prior written consent from the City to pay such excess legal fees (if any). Also, he requested that the City pay for any lender fees incurred in relations to the transaction. He stated that he cannot proceed with his review without an agreement from the City. Phone call to owner's attorney, I explained the project in detail and the specific project impact to subject property. I explained that this a re-pavement project with replacement and upgrades to many of the utilities within the alignment. In addition, a bike lane will be added and new sidewalk. I explained that the proposed acquisition area is all within the slope landscape buffer area of the property and in the after all its current utilities will remain and no impacts to existing parking. I told him that City's outside counsel, Kinnon Williams will be reaching out shortly and I will be copying him on a response email to him. Email sent to owner's attorney with a copy of 5/12 email with owner's acceptance and let him know that I will have to consult the City on their request for soft cap of $10,000. Email reply from owner's attorney confirming owner's acceptance to the purchase prices ONLY. 5/26/20 Email sent to owner and their attorney, stating that the City is not inclined to agree to a "soft cap of$10,000" on attorney fees. Confirmed with them that the City will pay all lender fees associated with transaction and relayed that the City is not seeking for a prolonged negotiation of the document verbiage. The time is of the essence and asked if they would be willing to execute a Possession and Use agreement. Sent a second email providing additional clarification of the purpose of acquisition and again providing assurance that the TCE area is all within the landscape buffer and not impacting the parking or other existing utility, only to provide area for restoration and work area for the City's contractors. Hoping that this explanation would alleviate or address their concern regarding liability and indemnity within the TCE area. Email confirmation from owner's attorney confirming receipt of the email and will consult with his client. He asked that I send him the Possession and Use agreement, since he does not recall it in the packet he received. He made a comment that flipping through the appraisal that he noted the 75% discount for the easement area. 5/28/20 Left a voicemail for Dayna Desmond for a call back. Email correspondence to coordinate a conference call for 5/29. 5/29/20 Phone call with Dayna Desmond, she voiced her concern in communication with their attorney that the City attorney's tone was very aggressive. They were basically told that the City of Renton will reimburse up to $750 and is not inclined to make any changes to documents. Furthermore, if they are not agreeable to those terms the City will file condemnation against them. Their attorney inquired about the specifics of the easement and was told that he did not have the time to look that up for them. She also stated that they felt like they were treated as if they were not a savvy property owner. They would like the City to understand that their focus has been working with over 500 tenants in their , 35 commercial properties throughout the region dealing with fall outs of Covid19 business related issues. This project,although they are not against it,is not at the top of their priority either. They are not willing to incur attorney cost unless they have an agreement on attorney fee reimbursement. She would like the City to agree to up to $7,000 attorney fee. They are hoping that they can make some red-line changes to tighten up the P&S agreement and the easement documents. Currently, the language in the easement document is too broad in comparison to the actual easement improvement discussed in the appraisal report. They would need to present the document packet to their lender.And currently,the documents,in their opinion, are not ready to be sent to their lender as it is. They would like to do their due diligence but are not willing to take on the cost associated with this transaction. They are hopeful that we can get to an amicable agreement on the document's language before they max out that amount. But if they cannot get to an agreement by the time their attorney fees exceed the $7,000,they would like to seek prior approval for additional fees. She stated, "we are not willing to sign off on the documents as it is and if the City is unwilling to pay attorney fees,they can sue the City". I responded that I would relay the information to the City and get back to her. 6/3/20 Email from Dayna Desmond inquiring about the status of City's response. Email reply confirming that the City is currently reevaluating the easement valuation and language right now and will get back to her as soon as I get confirmation. 6/29/20 Email sent to owner with revised offer packet and explained that City had decided to revise the permanent easement area to take the minimalist approach. This new approach is limited to utility/slope easement only. Following revised offer related documents were included: • Updated appraisal report. • • Revised offer letter • P &S agreement • Utility Slope Easement • Temporary Construction Easement • Real Property Voucher 7/1/20 Email sent to owner to check on status of their review. Immediately a following response from the owner"Until the city agrees to pay all of our legal fees for review and documentation of this matter, we are unable to proceed" 7/6/20 Email sent to owner stating that the City will agree to$2,500 attorney fee to start the review , process to get the ball rolling. Following response from the owner: Again, you have asked us to review significant documents. $2,500 will not cover legal fees. In addition you have suggested a reduced amount of purchase price for the same objective, so the City is saving over 20k. It would seem there is ample room for the City to cover our legal fees, we will agree for them not to exceed 10K If that is acceptable, we will proceed with review. If not, we will not be moving fonvard. Thank you for your understanding. Stephen Jaeger Argonaut Investments 415-271-2468 7/7/20 Phone message left with owner for a call back to discuss the reimbursables and the revised offer more in detail. Follow up email sent to owner explaining the City's decision to minimize the utility easement area to 832SF from previously 2,917SF is so the project would not impact the future/current utilities of the property. The TCE area remains approximately the same and the purpose is to provide a work area for the City's contractors for the installation of the utilities and to match the driveway approaches at the two access points. Additionally,the City's position on agreeing to $2,500 for review is to start the process. 7/8/20 Email sent to owner thanking them for their patience and reiterating the changes to the acquisition was to accommodate their concerns and by reducing the scope of the take,the damages were in turn diminished, thus reducing the amount of compensation by having lesser impact. I relayed that the City will agree to reimburse up to $5,000 in legal fees if we can reach an agreement within the next two weeks. Reply email from the owner agreeing to the $5,000 legal fees but wants the original compensation amount of$70,000. 7/10/20 Email owner the documents, PSA, Utility Slope Easement, TCE and Appraisal report. in Word,hoping to expedite the review(track changes). 7/11/20 Rely email from the owner stating that he forwarded onto his attorney for review. 7/17/20 Email owner asking for status of review. Reply email back stating that "in the hands of our attorney." 7/20/20 Email from Ross Guttenberg, owner attorney with redlined changes to the conveyance documents. Documents forwarded onto the City. 7/24/20 Email sent to owner's attorney,the City is agreeable to the owner's requested changes on the PSA and the Temporary Construction Easement. The City had following comments back on the 50%surface provision to the Utility Easement "although the City is utilizing less than 50%of the surface area. However, trying to measure this can be difficult and is fertile ground for quibbling. Further, I clarified that the City is responsible for maintaining its utilities, but not the easement as the right to use the surface of the easement remains with the property owner, so long as such use does not interfere with the City use. Therefore, the property owner should maintain the area so the city does not conflict with its landscaping maintenance." Asked that they review minor edits to the Utility Easement to see if they are agreeable. Response back from owner's attorney accepting the documents as edited by the City. 7/27/20 Corresponding emails back and forth to finalize the documents so we can proceed with signing. 7/29/20 Email correspondence regarding invoice for his services and order of signing of the documents. He recommended that both parties sign off on the PSA before proceeding with the easement documents. 8/3/20 Received owner signed PSA,forwarded onto the City for counter signing. 8/12/20 Email inquiry on the counter signed PSA by the City. 8/28/20 Forwarded a fully executed PSA asked if they are in touch with the lender. The owner's attorney stated that he was awaiting the executed PSA prior to making contact. He will follow up with them now. 8/31/20 Email correspondence with owner's attorney requesting LLC's operating agreement showing the signing authority. 9/1/20 Received operating agreement for the file and forwarded onto Chicago title and Escrow. 9/14/20 Email from owner's attorney stating that the lender is requesting $3,500 fee associated with the release. Phone and email with owner's attorney to confirm that lender fees will be reimbursed at closing,just make sure to keep documentation associated with the fee. 9/15/20 Email from owner's attorney forwarding a conditional consent letter and consent agreement for the City's acquisition. 9/17/20 Received proof of lender fees paid by the owner. 9/28/20 Email from owner's attorney asking if their lender still need to sign on the easement documents. Question forwarded onto Chicago Title and Escrow. 10/2/20 Response email back to owner's attorney stating that the underwriter for the Title and Escrow requests that both Easement documents be counter signed by the lender. 10/5/20 Emailed Real Property Voucher and W-9 and coordinated where to send the original signed documents. He will mail out the signed Utility Easement and the TCE out today. 10/7/20 Received owner signed Utility Easement and TCE. 10/13/20 Email from owner's attorney inquiring about if I received signed does from their lender. 10/14/20 Email from owner's attorney stating that he has confirmation that lender will be overnight the signed document today. 10/16/20 Email from owner's attorney asking if I received the documents from their lender. 10/19/20 Email from owner's attorney asking if someone from the City would reach out to their ' lender because they have not been very responsive. Email sent to Scott Rudd, lender's counsel: My name is Sonja Davis, Right of Way Consultant for the City of Renton, Washington. I am following up on Utility Easement and Temporary Construction Easement documents that required lender signatures, previously provided to you by Argo Renton LLC's counsel, Ross Guttenberg. The City is very anxious to get this project under way and would like to request a prompt response. Will you please let me know if the documents are signed and in route, if not when we could expect them? 'thank you in advance for your assistance in this matter. Email response back from lender's counsel stating the following: When I received the executed documents from Wells Fargo they had been executed and notarized on a double sided print out tie signature on one side of the paper, notary on the other). I am assuming you cannot accept that, but ii you can please let me know.In the interim,I have requested '. another set all printed out on one side of each sheet. I expect I will have them in the next day in order to turn around and overnight to you. Thanks for your patience, 10/23/20 Received lender's signature pages of the Utility Easement and TCE. 10/26/20 Email correspondences with owner's attorney requesting signed Voucher and W-9. 11/10/20 Transmitting original signed document packet to Chicago Title and Escrow for disbursement of payment and recording. I hereby cert that the written instruments secured and forwarded herewith embody all the considerations agreed upon between me and the property owner; agreement on said instruments was reached without coercion,promises other than those shown in the instruments, or threats of any kind whatsoever by or to either party;I understand that the parcels are to be secured for use in connection with a Federal aid highway project;I have no direct or indirect present or contemplated future personal interest in the parcels or in any benefit from the acquisition of such property. Sonja i Date Sonja Davis From: Ross Guttenberg <rossguttenberg@gmail.com> Sent: Monday, October 26, 2020 2:17 PM To: Sonja Davis; 'Adams, Paula' Cc: 'Stephen Jaeger'; 'Dayna Desmond'; 'Flora Lee'; 'Josef Harnden'; 'Cindy Clark' Subject: RE: City of Renton_Duvall Ave NE Project-Argo Renton Escrow Closing Attachments: Argo Voucher Agreement.pdf; Renton W-9.pdf See attached completed and executed Real Property Voucher Agreement and W-9. Please advise if anything else is needed for closing. Thank you, Ross Ross A.Guttenberg,Esq. Guttenberg&Colvin LLP 16790 Placer Hills Road,Ste.D Meadow Vista,CA 95722 Main Office: (530)878-2000 Ross Guttenberg Direct: (415)328-3992 Email: rossguttenberg iigmail.com From:Sonja Davis<Sonja@resgn .com> Sent:Thursday,October 1,2020 1:27 PM To:Adams, Paula<Paula.Ada .@ctt.com> Cc: Ross Guttenberg<rossgut enberg@gmail.com>;Stephen Jaeger<sbjaeger@argoinvest.com>; Dayna Desmond <ddesmond@argoinvest.co >; Flora Lee<FLee@Rentonwa.gov>;Josef Harnden<JHarnden@Rentonwa.gov>;Cindy Clark<CClark@parametrix. om> Subject:City of Renton_D vall Ave NE Project-Argo Renton Escrow Closing Paula, Please find attached losing conveyance document packet related to Argo Renton LLC. 1. PSA(exec ed by the owner and the City) 2. Lender Co nsent Letter(executed by the lender) 3. Renton LC, operating agreement w/signing authority 4. Utility/:lope Easement(to be executed) 5. Tempe rary Construction Easement(to be executed) 6. City'. Real Property Voucher(includes lender release fee) I appreciate your assistance in coordinating execution of remainder of the documents, please let me know how I can help or as.ist you. • Owner 'ontact: Ross A.Guttenberg,Esq. Guttenberg&Colvin LLP 16790 Placer Hills Road,Ste.D 1 Sonja Davis From: Ross Guttenberg<rossguttenberg@gmail.com> Sent: Tuesday, October 6, 2020 9:33 AM To: Sonja Davis Subject: Re:City of Renton_Duvall Ave NE Project Sonja, Just wanted to give you an update that we have submitted the request to the lender regarding signature,notarization and delivery of originals of the easement conveyance documents as required by the City,and will keep you posted on any developments.I am also working on coordinating the execution, notarization and delivery of the easement conveyance documents with my client and will keep you posted. Thank you, Ross Ross A.Guttenberg,Esq. Guttenberg&Colvin LLP 16790 Placer Hills Road,Ste.D Meadow Vista,CA 95722 Main Office: (530)878-2000 Ross Guttenberg Direct: (415)328-3992 Email: rossguttenberg(a,gmail.com On Fri, Oct 2,2020 at 5:41 PM Sonja Davis<Sonia@resgnw.com>wrote: Ross, Enjoy your weekend. Thank you, Sonja Davis 425-577-2184 From: Ross Guttenberg<rossguttenberg@gmail.com> I Sent: Friday, October 2,2020 5:35 PM 1 To:Sonja Davis<Sonia@resgnw.com> Subject: Re: City of Renton_Duvall Ave NE Project Thank you. I will make the request first thing Monday morning. Ross A.Guttenberg, Esq. Guttenberg&Colvin LLP 16790 Placer Hills Road, Ste. D Meadow Vista, CA 95722 { Main Office Ph: (530) 878-2000 Ross Guttenberg Direct Ph: (415) 328-3992 Email: rossguttenberg@gmail.com On Fri, Oct 2, 2020, 5:33 PM Sonja Davis<Sonja@resgnw.com>wrote: Ross, Mailing Address: RES Group NW 4 Attn: Sonja Davis 1913 6th Street z ' Kirkland,WA 98033 Thank you, 1 ; Sonja Davis t ( l 425-577-2184 ( From: Ross Guttenberg<rossguttenberg@gmail.com> Sent: Friday,October 2, 2020 4:52 PM fI To:Sonja Davis<Sonja@resgnw.com> Subject: Re: City of Renton_Duvall Ave NE Project 2 Sonja, Please provide the address you want the originals sent to at your earliest convenience,I will not submit the request to lender until I know where to have them send it to. i f Thank you, Ross { Ross A. Guttenberg,Esq. t , Guttenberg&Colvin LLP 16790 Placer Hills Road,Ste.D Meadow Vista,CA 95722 Main Office: (530)878-2000 Ross Guttenberg Direct: (415)328-3992 Email: rossguttenbergAgmail.com On Fri,Oct 2,2020 at 10:21 AM Sonja Davis<Sonja@resgnw.com>wrote: Ross, The underwriter request that the lender sign both of the easement documents. Please proceed with obtaining the Utility/Slope Easement and Temporary Construction Easement signed by the lender,followed by the ownership (Argo Renton)and send all original signed documents directly to me and I will deliver to the City for their signatures. { r Please don't hesitate to call me directly if you have any questions. Thank you, ! . i 3 Sonja Davis From: Ross Guttenberg <rossguttenberg@gmail.com> Sent: Tuesday, September 29, 2020 7:17 AM To: Sonja Davis; 'Adams, Paula' Cc: 'Stephen Jaeger; 'Dayna Desmond'; 'Flora Lee'; 'Josef Harnden' Subject: RE:City of Renton_Duvall Ave NE Project Attachments: Argo Renton - Consent Letter- FE.pdf Sonja, As a follow up to my email yesterday, see attached,fully executed Consent Letter my client just received from the lender this morning. The easements were attached to what the lender sent as Exhibit A, but the file size was too large for me to forward along. Given the attached,can lender's signature block be removed from the TCE? Please advise and please respond to my inquiries from yesterday at your earliest convenience. Thank you, Ross Ross A.Guttenberg,Esq. Guttenberg&Colvin LLP 16790 Placer Hills Road,Ste.D Meadow Vista,CA 95722 Main Office: (530)878-2000 Ross Guttenberg Direct:(415)328-3992 Email: rossguttenberenu gmail.com From: Ross Guttenberg<rossguttenberg@gmail.com> Sent: Monday,September 28,2020 10:47 AM To: 'Sonja Davis'<Sonja@resgnw.com>; 'Adams, Paula'<Paula.Adams@ctt.com> Cc: 'Stephen Jaeger'<sbjaeger@argoinvest.com>; 'Dayna Desmond'<DDesmond@argoinvest.com>; 'Flora Lee' <FLee@rentonwa.gov>; 'Josef Harnden'<JHarnden@Rentonwa.gov> Subject: RE: City of Renton_Duvall Ave NE Project Sonja, See attached Lender's Consent and Subordination agreement executed by the lender. What are the next steps to proceed to closing?I imagine the easement conveyance documents need to be executed and notarized with originals sent to escrow?I also see the lender is a signatory on the form of Temporary Construction Easement, see attached Consent Letter, executed by my client,clearly contemplating both the TCE and Utility/Slope Easement,and followed by Lender's Consent and Subordination agreement executed by lender(first attachment).As such,will lender's execution and notarization with originals sent to escrow be required on the TCE(to me,there seems no reason given the second attachment), can we delete that signature block from the TCE?Just trying to facilitate a smooth and efficient closing as possible. If there is any other required closing documentation,please have escrow send it to us. At a minimum, each side will need to provide escrow/closing instructions. Please advise at your earliest convenience. Thank you, 1 Ross Ross A.Guttenberg, Esq. Guttenberg&Colvin LLP 16790 Placer Hills Road,Ste. D Meadow Vista,CA 95722 Main Office: (530)878-2000 Ross Guttenberg Direct: (415)328-3992 Email: rossguttenberg(&gmail.com From: Sonja Davis<Sonla@resgnw.com> Sent:Thursday, September 17, 2020 8:18 PM To:Adams, Paula <Paula.Adams@ctt.com> Cc: Ross Guttenberg<rossguttenberg@gmail.com>; 'Stephen Jaeger'<sbjaeger@argoinvest.com>; 'Dayna Desmond' <DDesmond@argoinvest.com>; 'Flora Lee'<FLee@rentonwa.gov>;Josef Harnden <JHarnden@Rentonwa.gov> Subject: RE: City of Renton_Duvall Ave NE Project Paula, Please find attached Conditional Consent letter and Consent and Subordination agreement. Argo Renton has executed and sent it onto their lender and are waiting for the lender executed originals to come back to them. Also attached is the revised Payment Voucher,which includes lender review and processing fees. I am currently out of the area and have limited email/phone access during the day. I will respond promptly as soon as I get within wireless coverage. Please let me know if you want to have a quick phone call to get up to speed. Thank you, Sonja Davis 425-577-2184 From:Adams, Paula <Paula.Adams@ctt.com> Sent: Wednesday, September 9, 2020 1:27 PM To:Sonja Davis<Sonja@resgnw.com> Subject: RE: City of Renton_Duvall Ave NE Project This message was sent securely using Zix Received. Thank you. poet Paula K. Adams Vice President Commercial Escrow Officer/LPO 10500 NE 8th Street, Suite 600 Bellevue, WA 98004 (425) 646-9882 Direct (866) 275-5010 Fax Paula.Adams@ ctt.com 2 CHICAGO TITLE INSURANCE COMPANY NATIONAL COMMERCIAL SERVICES I SEATTLE I WILL BE OUT OF THE OFFICE SEPTEMBER 12TH THROUGH SEPTEMBER 17TH. PLEASE LET ME KNOW IF PLAN TO CLOSE DURING THAT TIME. From:Sonja Davis<Sonia@resgnw.com> Sent:Wednesday, September 9,2020 11:49 AM To:Adams, Paula<Paula.Adams@ctt.com> Subject: FW:City of Renton_Duvall Ave NE Project IMPORTANT NOTICE-This message sourced from an external mail server outside of the Company. Paula, Please find attached operating agreement for Argo Renton LLC. Per email below the owner's attorney has reached out to their lender will loop us in as soon as they receive a response. Thank you, Sonja Davis 425-577-2184 From: Ross Guttenberg<rossguttenberg gmail.com> Sent:Tuesday,September 1, 2020 4:14 PM To:Sonja Davis<Sonja@resgnw.com> Cc:Stephen Jaeger<sbiaeger@argoinvest.com>; Dayna Desmond <DDesmond@argoinvest.com>; Flora Lee <FLee@rentonwa.gov> Subject: Re: City of Renton_Duvall Ave NE Project Sonja, See attached Operating Agreement for Argo Renton, LLC. We have reached out to our lender and will advise when we have received a response, and will facilitate the transition to the City/Escrow for obtaining the necessary lender consent. If you have any questions or wish to discuss, let me know. Thank you, Ross Ross A. Guttenberg, Esq. Guttenberg& Colvin LLP 16790 Placer Hills Road,Ste. D Meadow Vista,CA 95722 Main Office: (530)878-2000 Ross Guttenberg Direct: (415)328-3992 Email: rossguttenberg(a)gmail.com 3 Sonja Davis From: Ross Guttenberg <rossguttenberg@gmail.com> Sent: Tuesday, September 1, 2020 4:14 PM To: Sonja Davis Cc: Stephen Jaeger; Dayna Desmond; Flora Lee Subject: Re:City of Renton_Duvall Ave NE Project Attachments: FE Operating Agreement Argo Renton.pdf Follow Up Flag: Follow up Flag Status: Flagged • Sonja, See attached Operating Agreement for Argo Renton,LLC. We have reached out to our lender and will advise when we have received a response, and will facilitate the transition to the City/Escrow for obtaining the necessary lender consent. If you have any questions or wish to discuss, let me know. Thank you, Ross Ross A. Guttenberg,Esq. Guttenberg&Colvin LLP 16790 Placer Hills Road,Ste.D Meadow Vista,CA 95722 Main Office: (530)878-2000 Ross Guttenberg Direct: (415)328-3992 Email: rossguttenbergQgmail.com On Mon,Aug 31,2020 at 2:14 PM Sonja Davis<Sonia@resgnw.com>wrote: Ross, Yes,once you've made necessary point of contact with the lender, I will forward the information to our escrow. Also will you please provide Argo Renton LLC's operating agreement or other appropriate documentation for the purpose of the signing authority. Thank you, 1 Sonja Davis 425-577-2184 1 From: Ross Guttenberg<rossguttenberg@gmail.com> Sent: Friday,August 28, 2020 4:22 PM To:Sonja Davis<Sonja@resgnw.com> Cc:Stephen Jaeger<sbiaeger@argoinvest.com>; Dayna Desmond <DDesmond@argoinvest.com>; Flora Lee <FLee@rentonwa.Rov> Subject: Re:City of Renton_Duvall Ave NE Project Thank you, Sonja. As previously discussed,we did not plan on approaching the lender until there was a fully executed PSA, so we have not started that process yet. We will reach out to the lender early next week to open the line of communication regarding this matter, and then we were planning to hand it off to the City so it can work through obtaining the necessary lender consent, as was our understanding from your email dated May 21. Is that approach acceptable?Please advise. Have a great weekend, Ross Ross A. Guttenberg,Esq. Guttenberg& Colvin LLP 16790 Placer Hills Road,Ste.D Meadow Vista,CA 95722 Main Office: (530) 878-2000 Ross Guttenberg Direct: (415)328-3992 Email: rossguttenberg( gmail.com On Fri,Aug 28,2020 at 3:30 PM Sonja Davis<Sonia@resgnw.com>wrote: Ross, 2 Please find attached executed PSA by the City of Renton. I will forward the closing documents to escrow and copy you so they can follow up directly with you for executing the remaining conveyance documents. Will you please provide status of your communication with the lender so I can relay that to them as well. Enjoy your weekend. Thank you, Sonja Davis 425-577-2184 From: Ross Guttenberg<rossguttenberg@gmail.com> I Sent:Wednesday,August 12, 2020 9:49 AM To:Sonja Davis<Sonia@resgnw.com> Cc: 'Stephen Jaeger'<sbjaeger@argoinvest.com>; 'Dayna Desmond'<ddesmond@argoinvest.com>; 'Flora Lee' <FLee@Rentonwa.gov> Subject: RE: City of Renton_Duvall Ave NE Project Sonja, Just checking in on the status of the execution and delivery of the PSA by the City. Please advise. ii Thank you, Ross Ross A. Guttenberg,Esq. Guttenberg&Colvin LLP i 16790 Placer Hills Road,Ste.D Meadow Vista,CA 95722 3 Main Office: (530)878-2000 Ross Guttenberg Direct: (415)328-3992 Email: rossguttenberg(a,gmail.com From:Sonja Davis<Sonja@resgnw.com> Sent:Tuesday,August 4, 2020 10:00 AM To: Ross Guttenberg<rossguttenberg@gmail.com> Cc: 'Stephen Jaeger' <sbjaeger@argoinvest.com>; 'Dayna Desmond'<ddesmond@argoinvest.com>; 'Flora Lee' <FLee@Rentonwa.gov> Subject: RE: City of Renton_Duvall Ave NE Project Ross, My apologies,confirming receipt, PSA is routed for counter signing by the City. I will email once executed, please keep your original PSA and transmit with the other conveyance documents to Escrow. I will loop escrow in once we have fully executed PSA. If i Thank you, Sonja Davis 425-577-2184 From: Ross Guttenberg<rossguttenberg@gmail.com> Sent:Tuesday,August 4, 2020 9:37 AM To:Sonja Davis<Sonja@resgnw.com> Cc: 'Stephen Jaeger'<sbiaeger@argoinvest.com>; 'Dayna Desmond' <ddesmond@argoinvest.com>; 'Flora Lee' <FLee@Rentonwa.gov> Subject: RE:City of Renton_Duvall Ave NE Project Sonja, Please confirm receipt of my email and attachment from yesterday(below)and advise. Thank you, 4 1 Ross Ross A.Guttenberg,Esq. Guttenberg&Colvin LLP 16790 Placer Hills Road,Ste. D Meadow Vista,CA 95722 Main Office: (530)878-2000 Ross Guttenberg Direct: (415)328-3992 Email: rossguttenberg(a,gmail.com From: Ross Guttenberg<rossguttenberg@gmail.com> Sent: Monday,August 3, 2020 9:26 AM To: 'Sonja Davis'<Sonja@resgnw.com> Cc: 'Stephen Jaeger' <sbjaeger@argoinvest.com>; 'Dayna Desmond'<ddesmond@argoinvest.com>; 'Flora Lee' <FLee@Rentonwa.gov> Subject: RE: City of Renton_Duvall Ave NE Project Sonja, See attached executed and notarized copy of the PSA signed by my client. Does the City require the original?If so, please advise what address to send the original to. Please forward along to the City for its execution,notarization and delivery.Please send an e-copy when available, at your earliest convenience,to my clients and myself.My client also requests the executed original be sent to the notice address contained in the PSA. Once the PSA is fully executed and delivered,we will begin the process of contacting the lender for obtaining consent. If you have any questions or wish to discuss, let me know. Thank you, Ross Ross A.Guttenberg,Esq. 5 , Guttenberg&Colvin LLP 16790 Placer Hills Road,Ste. D Meadow Vista,CA 95722 Main Office: (530)878-2000 Ross Guttenberg Direct: (415)328-3992 Email: rossguttenberg(a,gmail.com From:Sonja Davis<Sonia@resgnw.com> Sent:Wednesday,July 29,2020 1:41 PM To: Ross Guttenberg<rossguttenbergPgmail.com> Cc:Stephen Jaeger<sbiaeger@argoinvest.com>; Dayna Desmond <ddesmond@argoinvest.com>; Flora Lee <FLee@Rentonwa.gov> Subject: RE:City of Renton_Duvall Ave NE Project } II if Ross, Please find attached revised P&S agreement, please note 3.1 (B) in reference to the attorney fees.Also, attached is the real property voucher with total settlement amount(excluding any lenders fees that may get added in escrow.) Please let me know if you need anything further before proceeding. ii Thank you, Sonja Davis 425-577-2184 From: Ross Guttenberg<rossguttenberg@gmail.com> Sent:Tuesday,July 28, 2020 12:28 PM To:Sonja Davis<Sonja@ resgnw.com> Subject: RE: City of Renton_Duvall Ave NE Project 6 Sonja Davis From: Ross Guttenberg <rossguttenberg@gmail.com> Sent: Wednesday,July 29, 2020 4:22 PM To: Sonja Davis Subject: RE: City of Renton_Duvall Ave NE Project Great,thank you for providing the redline showing the changes made to the previously approved draft.I will advise my client to sign,notarize,scan and deliver the PSA to the myself and the City for its(hopefully prompt)execution and delivery, so that we can start the process of obtaining lender consent. Thank you, Ross Ross A.Guttenberg,Esq. Guttenberg&Colvin LLP 16790 Placer Hills Road,Ste.D Meadow Vista,CA 95722 Main Office: (530)878-2000 Ross Guttenberg Direct:(415)328-3992 Email: rossguttenberg(agmail.com From:Sonja Davis<Sonja@resgnw.com> Sent:Wednesday,July 29,2020 4:20 PM To: Ross Guttenberg<rossguttenberg@gmail.com> Subject: RE: City of Renton_Duvall Ave NE Project Yes, please see attached. I didn't realized the$5,000 attorney fee paragraph was already included,as stated it will be deposited into the escrow. Thank you, Sonja Davis 425-577-2184 From: Ross Guttenberg<rossguttenberg@gmail.com> Sent:Wednesday,July 29,2020 2:49 PM To:Sonja Davis<Sonia@resgnw.com> Subject: RE: City of Renton_Duvall Ave NE Project ,Sonja, Received. Thank you.What do you mean by your comment"please note 3.1(B) in reference to the attorney fees"?It appears on a cursory review that.the only changes are to Section 1 regarding the allocation of the purchase price. Can you confirm the changes in Section 1 are the only changes in this iteration of the PSA? If so, both attachments look acceptable. Please advise. r Thank you, Ross Ross A.Guttenberg,Esq. Guttenberg&Colvin LLP 16790 Placer Hills Road,Ste.D Meadow Vista,CA 95722 Main Office: (530)878-2000 Ross Guttenberg Direct:(415)328-3992 Email: rossguttenberg(a,gmail.com From:Sonja Davis<Sonia@resgnw.com> Sent:Wednesday,July 29, 2020 1:41 PM To: Ross Guttenberg<rossguttenberg@gmail.com> Cc:Stephen Jaeger<sbiaeger@argoinvest.com>; Dayna Desmond <ddesmondPargoinvest.com>; Flora Lee <FLee @ Re nto nwa.gov> Subject: RE:City of Renton_Duvall Ave NE Project Ross, Please find attached revised P&S agreement, please note 3.1 (B)in reference to the attorney fees.Also, attached is the real property voucher with total settlement amount(excluding any lenders fees that may get added in escrow.) Please let me know if you need anything further before proceeding. Thank you, Sonja Davis 425-577-2184 From: Ross Guttenberg<rossguttenberg@gmail.com> Sent:Tuesday,July 28, 2020 12:28 PM To:Sonja Davis<Sonia(cr�resgnw.com> Subject: RE:City of Renton_Duvall Ave NE Project Sonja, Attached is the redacted bill as requested,including dates,time and rate.All I did was eliminate time descriptions,as discussed.Please confirm this is acceptable.As noted previously,this is only through this morning,and the$290 of the remaining$5,000 reimbursement amount will easily be exceeded given what still needs to be done. Please circulate the revised PSA at your earliest convenience,when available. If you have any questions or wish to discuss, let me know. Thank you, Ross Ross A.Guttenberg,Esq. 2 Guttenberg&Colvin LLP 16790 Placer Hills Road,Ste.D Meadow Vista,CA 95722 Main Office: (530)878-2000 Ross Guttenberg Direct: (415)328-3992 Email: rossguttenberg(u)gmail.com From:Sonja Davis<Sonia@resgnw.com> Sent:Tuesday,July 28, 2020 11:17 AM To: Ross Guttenberg<rossguttenberg@gmail.com> Subject: FW:City of Renton_Duvall Ave NE Project Please see response below from the City. Thank you, Sonja Davis 425-577-2184 From: Flora Lee<FLee@Rentonwa.gov> Sent:Tuesday,July 28, 2020 11:16 AM To:Sonja Davis<Sonia@resgnw.com> Cc: Bob M Hanson <Bhanson@Rentonwa.gov>;Josef Harnden <JHarnden@Rentonwa.gov>; Kinnon Williams <kwilliams@insleebest.com>; Cheryl Beyer<CBeyer@Rentonwa.gov> Subject: RE:City of Renton_Duvall Ave NE Project We would request a redacted time report, so as to not disclose attorney client matters, but so we can at least verify time and rate. Thank you. Flora Lee FLee@Rentonwa.gov Cell: (206) 530-0294 Telework. Please reach me via email. From: Ross Guttenberg<rossguttenberg@gmail.com> Sent:Tuesday,July 28, 2020 10:52 AM To: 'Sonja Davis'<Sonja@resgnw.com>; 'Stephen Jaeger'<sbiaeger@argoinvest.com>; 'Dayna Desmond' <ddesmond@argoinvest.com> Cc: Flora Lee<FLee@Rentonwa.gov>;Josef Harnden <JHarnden@Rentonwa.gov>; 'Adams, Paula' <Pa ula.Ada ms@ctt.com> Subject: RE:City of Renton_Duvall Ave NE Project Sonja, Attached is my firm's invoice,in the agreed cap amount of$5,000.00. Please note that through the sending of this email, my legal fees incurred in connection with this matter total$4,710.00,but the remaining$290, up to the reimbursement cap,will be easily exceeded in dealing with my client's lender and actual escrow closing documents and issues.Please confirm the attached invoice is sufficient for your current needs. If you have any questions or wish to discuss, let me know. 3 When can we expect to receive a final, signed PSA from the City?Please advise. Thank you, Ross Ross A. Guttenberg,Esq. Guttenberg&Colvin LLP 16790 Placer Hills Road,Ste. D Meadow Vista,CA 95722 Main Office: (530)878-2000 Ross Guttenberg Direct: (415)328-3992 Email: rossguttenberg(a,gmail.com From:Sonja Davis<Sonja@resgnw.com> Sent:Tuesday,July 28, 2020 9:52 AM To: Ross Guttenberg<rossguttenberg@gmail.com>; 'Stephen Jaeger'<sbjaeger@argoinvest.com>; 'Dayna Desmond' <ddesmond@argoinvest.com> Cc: 'Flora Lee' <FLee@Rentonwa.gov>; 'Josef Harnden'<JHarnden@Rentonwa.gov>; 'Adams, Paula' <Pa ula.Adams@ctt.com> Subject: RE: City of Renton_Duvall Ave NE Project Ross, I will make necessary changes,will you please submit your invoice for the review. Thank you, Sonja Davis 425-577-2184 From: Ross Guttenberg<rossguttenberg@gmail.com> Sent: Monday,July 27, 2020 4:09 PM To:Sonja Davis<Sonia@resgnw.com>; 'Stephen Jaeger'<sbiaeger@argoinvest.com>; 'Dayna Desmond' <ddesmond@argoinvest.com> Cc: 'Flora Lee' <FLee@Rentonwa.gov>; 'Josef Harnden'<JHarnden@Rentonwa.gov>; 'Adams, Paula' <Paula.Adams@ctt.com> Subject: RE: City of Renton_Duvall Ave NE Project Sonja, I just finished reviewing the proposed documents,and I have a question regarding the Real Property Voucher Agreement: The valuations contained in the Real Property Voucher Agreement do not mirror the allocation of value contained in the PSA(in the PSA 1 increased the value of the Easement to $12,100 to get to the agreed $56,100.00), but the Real Property Voucher Agreement still states the value of the Utility/Slope Easement as$7,000, and makes up the difference with an "Administrative Settlement"of$5,100.I also note that there is no mention of the reimbursement of my client's legal fees' up to $5,000 and of lender's fees incurred in connection with the transaction, and just want to make sure that this Real Property Voucher Agreement is not in anyway amending the terms of the PSA(regarding the reimbursement of my client's legal fees up to $5,000 and of lender's fees incurred),or if such the Real Property Voucher Agreement should be amended to reflect such reimbursements.Please advise. 4 Sonja Davis From: Ross Guttenberg <rossguttenberg@gmail.com> Sent: Friday,July 24, 2020 12:50 PM To: Sonja Davis; 'Stephen Jaeger' Cc: 'Dayna Desmond' Subject: RE:City of Renton_Duvall Ave NE- Attachments: 15_Argo-TCE 20200710_word -v2 (final).docx; 15_Argo_UTILITYSLOPE easement 20200722_word -v2 (final).docx; 15_ArgoReal Estate PSA 20200710_word -v2 (final).docx Sonja, We have reviewed the proposed redlined changes to the Utility/Slope Easement and my client accepts it as presented,with the understanding that all of my client's requested redlined changes to the PSA and the Temporary Construction Easement are incorporated into those respective documents(other than the purchase price in the PSA,which has been revised in the attached version to reflect$56,100.00,as offered below). I attach clean"Word versions"of all 3 documents(with the Utility Easement merely accepting all the City's redlined changes sent with your email below,and with the PSA's only changes from my last draft being the change in purchase price to $56,100.00, inserting"N/A"in Section 5.2 as my understanding is there are no leases in the subject Easement Area, and the addition of the finalized easement documents attached as exhibits).Please have the City execute the attached PSA and return the executed version for my client's execution. Once the PSA is signed,we understand that the City will be reaching out directly to my client's lender to seek its consent. Please confirm and please keep us copied on any such material communications with my client's lender. Thank you, Ross Ross A.Guttenberg,Esq. Guttenberg&Colvin LLP 16790 Placer Hills Road,Ste.D Meadow Vista,CA 95722 Main Office: (530)878-2000 Ross Guttenberg Direct: (415)328-3992 Email: rossguttenberggmail.com From:Sonja Davis<Sonja@resgnw.com> Sent: Friday,July 24, 2020 8:28 AM To: Ross Guttenberg<rossguttenberg@gmail.com>; 'Stephen Jaeger'<sbjaeger@argoinvest.com> Cc: 'Dayna Desmond'<ddesmond@argoinvest.com> Subject: RE: City of Renton_Duvall Ave NE- Good morning, The City would like you to consider following final settlement of$56,100.00,which is 10%over the offer and with that will be agreeable to the requested red-line changes to the Temporary Construction Easement and Purchase and Sale documents. With regards to the Easement document,the 50%surface use provision,the City's response is the following: 1 "although the City is utilizing less than 50%of the surface area. However, trying to measure this can be difficult and is fertile ground for quibbling. Further, 1 clarified that the City is responsible for maintaining its utilities, but not the easement as the right to use the surface of the easement remains with the property owner,so long as such use does not interfere with the City use. Therefore, the property owner should maintain the area so the city does not conflict with its landscaping maintenance." Please see attached City's minor edits on the Utility Easement and let me know at your earliest convenience if you are agreeable. Thank you, Sonja Davis 425-577-2184 From: Ross Guttenberg<rossguttenberg@gmail.com> Sent: Monday,July 20, 2020 3:29 PM To: 'Stephen Jaeger'<sbjaeger@argoinvest.com>;Sonja Davis<Sonja@resgnw.com> Cc: 'Dayna Desmond'<ddesmond@argoinvest.com> Subject: RE:City of Renton_Duvall Ave NE- Sonja, See attached redlines of the proposed drafts of Purchase and Sale Agreement, Utility/Slope Easement and Temporary Construction Easement provided by the City. In order to expedite review, I am simultaneously transmitting the attached to my client,so all attachments necessarily remain subject to its review,comment,possible change(s)and approval. I believe the proposed changes are reasonable given the nature of the transaction and the scope of the easements being granted,and as such should presumably be acceptable to the City.In addition,I believe the proposed changes are consistent with what my client's lender will likely require anyway. Please review and advise at your earliest convenience. Thank you, Ross Ross A.Guttenberg,Esq. Guttenberg&Colvin LLP 16790 Placer Hills Road,Ste.D Meadow Vista,CA 95722 Main Office: (530)878-2000 Ross Guttenberg Direct: (415)328-3992 Email: rossguttenberg(a�gmail.com From:Stephen Jae r<sbiaeger(a)argoinvest.com> Sent: Friday,J 17, 2020 5:41 PM To:Sonja is<Sonja@resgnw.com> Cc: Da a Desmond <ddesmond@argoinvest.com>; Ross Guttenberg<rossguttenberg@gmail.com> Sub' ct: Re: City of Renton_Duvall Ave NE- 2 Sonja Davis From: Sonja Davis Sent: Monday,July 20, 2020 5:38 PM To: Ross Guttenberg; 'Stephen Jaeger' Cc: 'Dayna Desmond' Subject: RE: City of Renton_Duvall Ave NE- Ross, Thank you for your due diligence, I have passed it onto the City. Thank you, Sonja Davis 425-577-2184 From: Ross Guttenberg<rossguttenberg@gmail.com> Sent: Monday,July 20, 2020 3:29 PM To: 'Stephen Jaeger'<sbjaeger@argoinvest.com>;Sonja Davis<Sonja@resgnw.com> Cc: 'Dayna Desmond'<ddesmond@argoinvest.com> Subject: RE:City of Renton_Duvall Ave NE- Sonja, See attached redlines of the proposed drafts of Purchase and Sale Agreement,Utility/Slope Easement and Temporary Construction Easement provided by the City. In order to expedite review,I am simultaneously transmitting the attached to my client, so all attachments necessarily remain subject to its review, comment,possible change(s)and approval. I believe the proposed changes are reasonable given the nature of the transaction and the scope of the easements being granted,and as such should presumably be acceptable to the City.In addition,I believe the proposed changes are consistent with what my client's lender will likely require anyway. Please review and advise at your earliest convenience. Thank you, Ross Ross A.Guttenberg,Esq. Guttenberg&Colvin LLP 16790 Placer Hills Road,Ste.D Meadow Vista,CA 95722 Main Office: (530)878-2000 Ross Guttenberg Direct:(415)328-3992 Email: rossguttenberg(agmail.com From:Stephen Jaeger<sbjaeger argoinvest.com> Sent: Friday,July 17, 2020 5:41 M 1 Sonja Davis From: Stephen Jaeger <sbjaeger@argoinvest.com> Sent: Friday,July 17, 2020 5:41 PM To: Sonja Davis Cc: Dayna Desmond; Ross Guttenberg Subject: Re: City of Renton_Duvall Ave NE- In the hands of our attorney. On Jul 17,2020,at 12:58 PM,Sonja Davis<Sonja@resgnw.com>wrote: Steve and Dayna, Just checking in to see how the review process is going. Will you please provide an ETA on when we could expect comments back on the conveyance documents Thank you, Sonja Davis 425-577-2184 On Jul 11, 2020, at 10:26 AM,Stephen Jaeger<sbjaeger@argoinvest.com>wrote: We have forwarded to our atty On Jul 10,2020,at 9:03 AM,Sonja Davis<Sonja@resgnw.com>wrote: Steve and Dayna, Please finds attached conveyance documents in Word, hoping that this will expedite the review process. 1. PSA 2. TCE 3. Utility/Slope Easement 4. Updated appraisal Please let me know if you need anything else to assist in the review. Thank you, Sonja Davis 425-577-2184 1 Sonja Davis From: Stephen Jaeger <sbjaeger@argoinvest.com> Sent: Wednesday,July 8, 2020 5:01 PM To: Sonja Davis Cc: Dayna Desmond Subject: RE: City of Renton_Duvall Ave NE- We will agree to the 5K reimbursement of legal fees, but we want the original compensation amount of 70K approximately I believe. Stephen Jaeger Argonaut Investments Cell 415-271-2468 From:Sonja Davis [mailto:Sonja@resgnw.com] Sent:Wednesday,July 08, 2020 5:00 PM To:Stephen Jaeger<sbjaeger@argoinvest.com> Cc: Dayna Desmond <ddesmond@argoinvest.com> Subject: RE: City of Renton_Duvall Ave NE- Steve and Dayna, Thank you for your patience and please understand that the changes in the scope of the acquisition were made to accommodate the concerns of the property owner. Again, by reducing the scope of the take,the damages were in turn diminished.Thus, reducing the amount of compensation by having lesser impact. The City would like to relay that if the City is able to reach an agreement with the property owner within the next two weeks,they will reimburse up to$5,000 in legal fees incurred by the property owner. Thank you, Sonja Davis 425-577-2184 From:Stephen Jaeger<sb'ae:er . ar:oinvest.com> Sent: Monday,July 6,2020 6:13 PM To:Sonja Davis<Sonja • resgnw.com. Cc: Dayna Desmond <ddesmond • .r:oinvest.com> Subject: Re: City of Renton_Du II Ave NE- Again,you have asked us to eview significant documents. $2,500 will not cover legal fees. In addition you have suggested a reduced amo nt of purchase price for the same objective,so the City is saving over 20k. It would seem there is ample room for • e City to cover our legal fees, we will agree for them not to exceed 10K. If that is acceptable, we will proceed with review. If not,we will not be moving forward. Thank you for your understanding. Stephen Jaeger Argonaut Investments 1 Sonja Davis From: Sonja Davis Sent: Tuesday,July 7, 2020 1:04 PM To: Stephen Jaeger Cc: Dayna Desmond Subject: RE: City of Renton_ Duvall Ave NE- Attachments: ARGO Parcel ROW_Image.pdf Stephen, This email is a follow up to my voicemail this morning. The City's decision to minimize to the utility easement area to 832SF from previously 2,917SF is so the project would not impact future or current utilities of the property. Largely,the Temporary construction easement area will remained the similar for the purposes to providing work space for the installation of the utilities and to match the driveway approaches. Please see attached area depiction of the project impacts(also included in your appraisal report). The City's position on agreeing to$2,500 for review is so you can have your attorney start the review to see if he/she can get the City a better estimate on fees. I would also like to discuss the issue of lender consent or possibly the City accepting the monetary encumbrance on this transaction. Please give me a call at your convenience. Thank you, Sonja Davis 425-577-2184 From:Stephen Jaeger<sbjaeger@argoinvest.com> Sent: Monday,July 6, 2020 6:13 PM To:Sonja Davis<Sonja@resgnw.com> Cc: Dayna Desmond <ddesmond@argoinvest.com> Subject: Re: City of Renton_Duvall Ave NE- Again,you have asked us to review significant documents. $2,500 will not cover legal fees. In addition you have suggested a reduced amount of purchase price for the same objective,so the City is saving over 20k. It would seem there is ample room for the City to cover our legal fees,we will agree for them not to exceed 10K. If that is acceptable, we will proceed with review. If not,we will not be moving forward. Thank you for your understanding. Stephen Jaeger Argonaut Investments 415-271-2468 On Jul 6, 2020,at 1:57 PM,Sonja Davis<Sonja@resgnw.com>wrote: Steven and Dayna, The City will agree to$2,500 attorney review to start the review process. So we can get the ball rolling, please let me know if you would like to have the documents in WORD. 1 Thank you, Sonja Davis 425-577-2184 From:Stephen Jaeger<sbiaeger@argoinvest.com> Sent:Wednesday,July 1, 2020 4:43 PM To:Sonja Davis<Sonia@resgnw.com> Cc: Dayna Desmond <ddesmond@argoinvest.com> Subject: Re: City of Renton_Duvall Ave NE- Until the city agrees to pay all of our legal fees for review and documentation of this matter,we are unable to proceed. On Jul 1, 2020,at 4:41 PM,Sonja Davis<Sonia(c,�resgnw.com>wrote: Dayna, I wanted to check in to see if you need any clarifications or additional information on the City of Renton's revised offer. Please feel free to reach out with anything you may need. Thank you, Sonja Davis 425-577-2184 From:Sonja Davis Sent: Monday,June 29, 2020 10:03 M To: Dayna Desmond <ddesmond r oinvest.com> Cc:Stephen Jaeger<sb'ae er ar oinvest.com> Subject: RE:City of Renton_Du all Ave NE- Dayna, Thank you very much for yo r patience, a decision was made by the City to revise the permanent easement are to take the minimalist approach. The new approach is to provide utility easements, slope easements only for the areas the City's project need. Following documents a-ea attached for the City of Renton's Duvall Ave NE Project. Please review and let me know if you have any questions. • Updated appraisal report. • Revised off gr letter • P&S agre ment • Utility Sloe Easement • Temporiry Construction Easement • Real Property Voucher 2 Sonja Davis From: Sonja Davis Sent: Friday, May 22, 2020 10:47 AM To: Dayna Desmond Cc: Stephen Jaeger; Flora Lee Subject: RE: City of Renton_Duvall Ave NE- Attachments: Seller Opening Disclosures.pdf Dayna, Please fill out attached disclosure return it back. Thank you, Sonja Davis 425-577-2184 From: Dayna Desmond<ddesmond@argoinvest.com> Sent:Thursday, May 21, 2020 11:43 AM To:Sonja Davis<Sonja@resgnw.com> Cc:Stephen Jaeger<sbjaeger@argoinvest.com>; Flora Lee<FLee@rentonwa.gov> Subject: Re: City of Renton_Duvall Ave NE- Thank you. Please send the consent docs to us and we will discuss best way to handle lender consent. On May 21,2020, at 11:34 AM,Sonja Davis<Sonja@resgnw.com>wrote: Dayna, Please find attached conveyance documents as requested for your attorney review. Have you made contact with lender?We will need their approval on this acquisition due to the dollar amount,they may require that they sign off on the documents to acknowledge. Please let me know as soon you can, if not I will send you a consent form for us to make contact. Thank you, Sonja Davis 425-577-2184 From: Dayna Desmond<ddesmond@argoinvest.com> Sent:Thursday, May 21, 2020 10:50 AM To:Sonja Davis<Sonia@resgnw.com>;Stephen Jaeger<sbiaeger@argoinvest.com> Cc: Flora Lee<FLee@Rentonwa.gov> Subject: RE: City of Renton_Duvall Ave NE- Sonja, 1 Subject:Argo Parcel -changes Importance: High Good afternoon all, I just finished up a meeting with the City, and the final decision was made to modify the Argo parcel to include a minimalist approach to utility easement acquisition. I'm attaching a figure that shows the current design elements and our original assumption of obtaining a 5-foot utility/slope easement strip along the Argo parcel,for the entire length.The existing City ROW is on the back of our proposed sidewalk. As you can see, the utility/slope easement contains 5 street lights/junction boxes,three filterras, one flashing sign, a PSE vault, and a cable vault. You can also see areas where we modify the slope a bit (it's the hatched area on the plans). Our new approach is to provide utility easements/slope easements only for the areas we need.The easement will iog out where we have a utility or slope, and iog back in where we do not. This will also impact our temporary construction easement area as well. In the future, if the developer decides to redevelop,they will be held to City code, which we believe may include 8 feet of landscape/8 feet of sidewalk, so any setback impact concerns we had for our project for the Argo's redevelopment plans are a moot point as the City's code will impact their building setbacks more than our project. Dmitri/Clara—can you please review our design, and draw a new utility easement line that encompasses the proposed utilities,the proposed new cut/fill line? Please keep the line either parallel or perpendicular to City ROW and offset the ROW line by whole-foot increments. Please also provide a cushion of 2 feet to allow for accessibility to the streetlights, 5 feet around the Filterras, and 5 feet around the vaults for accessibility. Please then redraw the TCE line to provide what we need to construct the project and recalculate the areas. Jared—Once the TCE and utility/slope easement has been redrawn, can you please provide another legal description/exhibit for both the TCE and utility/slope easement? Sonja—once we have these finished, can you please work with Matt to update the appraisal? Thank you all! Parametrix ENGINEERING. PLANNING.ENVIRONMENTAL SCIENCES Cindy Clark, PE Senior Consultant 253.604.6739 I desk 253.363.0884 I cell 0 0 2 Sonja Davis From: Dayna Desmond <ddesmond@argoinvest.com> Sent: Wednesday,June 3, 2020 12:10 PM To: Sonja Davis Subject: RE: City of Renton_ Duvall Ave NE- Ok sounds good. Dayna Desmond Director of Asset Management Argonaut Investments, LLC 101 Larkspur Landing Circle, Suite 120 Larkspur, CA 94939 415-945-2473—Office 415-328-1438—Cell 415-945-2460—Fax ddesmond@argoinvest.com www.argoinvest.com From:Sonja Davis<Sonja@resgnw.com> Sent:Wednesday,June 3, 2020 11:20 AM To: Dayna Desmond<ddesmond@argoinvest.com> Subject: RE: City of Renton_Duvall Ave NE- Dayna, Yes,you are correct. I had a long discussion with the City project team on Monday and I am awaiting for their instructions. They are revisiting the valuation and the ROW easement language right now. I appreciate your patience, I will get back to you as soon as a decision is made. Thank you, Sonja Davis 425-577-2184 From: Dayna Desmond <ddesmond(@argoinvest.com> Sent:Wednesday,June 3, 2020 11:16 AM To:Sonja Davis<Sonja@resgnw.com> Subject: RE: City of Renton_ Duvall Ave NE- Sonja, I believe the ball is in your court following our call on Friday. Is that your understanding? Dayna Desmond Director of Asset Management Argonaut Investments, LLC 101 Larkspur Landing Circle,Suite 120 Larkspur, CA 94939 415-945-2473—Office 1 Sonja Davis From: outlook_64A99334498F436B@outlook.com <rossguttenberg@gmail.com> Sent: Tuesday, May 26, 2020 5:20 PM To: Sonja Davis Cc: Dayna Desmond; Kinnon Williams; Flora Lee; Stephen Jaeger Subject: RE: City of Renton_Duvall Ave NE- Received,thank you. I will discuss with my client.The easement agreement is a lot broader than what you describe below. And what is the "Possession and Use Agreement"you refer to? I do not recall seeing such a named document. In flipping through the appraisal...) do see a 75%discount for the easement rights being acquired (based on them being subsurface use only)...interesting... From:Sonia Davis Sent:Tuesday, May 26, 2020 5:05 PM To: Ross Guttenberg Cc: Dayna Desmond; Kinnon Williams; Flora Lee; Stephen Jaeger Subject: FW: City of Renton_Duvall Ave NE- Ross, This is a street pavement preservation project,where the street,sidewalk, bike lanes, street lights, and necessary utilities gets its much needed upgrade. There are very minimal impacts to properties along this project alignment. The purpose of Easement on subject property is primary for underground utilities that serve the subject property and surrounding business and road, like street light/footings, Filterra (subsurface stormwater vault.The project will install new sidewalks within the exiting City's right of Way. Most importantly the entire easement area will be within the property's setbacks and will not impact the existing or planned future uses of the property. Additionally,the Temporary Construction Easement,approximately 5 feet further into the property,still not be impacting exiting utility or parking will be needed for the purposes of restoration and to provide ample area for the contractors. I hope this explanation will alleviate or address some of your concern regarding liability and indemnity. Thank you, Sonja Davis 425-577-2184 From:Sonja Davis Sent:Tuesday, May 26,2020 4:27 PM To: Ross Guttenberg<rossguttenberg@gmail.com> Cc: Dayna Desmond<DDesmond@argoinvest.com>; Kinnon Williams<kwilliams@insleebest.com>; Flora Lee <FLee@rentonwa.gov> Subject: RE:City of Renton_Duvall Ave NE- 1 Ross, The City will pay as part of closing in escrow, any lender fees associated with this acquisitions. Having said that,the City throughout this project has completed all of its acquisitions with the same documents provided to Argo Renton,the City and their attorney would not like to see this to be a continuum of prolong negoitiation on the documents or its verbiage. The City is not incline to agree to a "soft cap of$10,000" on attorney fees. As I stated in the earlier email,the time is of the essence and the City would like to have you consider executing the Possession and Use Agreement, so not to l hinder the project time line. This would provide additional time to discuss any differences of opinion, if you so desire. Thank you, Sonja Davis 425-577-2184 From: Ross Guttenberg<rossguttenberg@gmail.com> Sent: Friday, May 22, 2020 4:21 PM To:Sonja Davis<Sonia(a)resgnw.com> Cc: Dayna Desmond <DDesmond@iargoinvest.com>; Kinnon Willis s<kwilliams@insleebest.com>; Flora Lee <FLee@rentonwa.gov> Subject: Re: City of Renton_Duvall Ave NE- Sonja, Thank you for your prompt response,and I look forward to sp aking with the City attorney, Kinnon Williams, hopefully sometime next week. In looking at what you sent me,and speaking with my clien,my understanding is that there has ONLY been an agreement as to the purchase price, conditioned upon agreement to the specific transaction documents, and conditioned upon the City's agreement to reimburse Argo for all of its'legal fees and any and all of its lender's fees incurred in connection with the transaction,whether or not final agreements are reached or the deal closes. We understand time is of the essence, and we look forward to working cooperatively with you and the City to resolve this matter as soon as possible. Have a great weekend! Thank you, Ross Ross A. Guttenberg,Esq. Guttenberg&Colvin LLP 16790 Placer Hills Road,Ste.D Meadow Vista,CA 95722 Main Office: (530) 878-2000 Ross Guttenberg Direct: (415)328-39 2 Email: rossguttenberg((u�gmail.com On Fri, May 22, 2020 at 3:45 PM Sonja Davis<SoniaPresgnw.com>wrote: 2 Sonja Davis From: Sonja Davis Sent: Thursday, May 28, 2020 10:14 PM To: Dayna Desmond Subject: RE:Vm I will be available after 12:30 and on. Thank you, Sonja Davis 425-577-2184 Original Message From: Dayna Desmond <ddesmond@argoinvest.com> Sent:Thursday, May 28, 2020 9:38 PM To:Sonja Davis<Sonja@resgnw.com> Subject:Vm Hi Sonja, received your vm. Let's talk tomorrow-are you available between 12-2pm? 1 Sonja Davis From: Ross Guttenberg <rossguttenberg@gmail.com> Sent: Friday, May 22, 2020 4:21 PM To: Sonja Davis Cc: Dayna Desmond; Kinnon Williams; Flora Lee Subject: Re: City of Renton_Duvall Ave NE- Follow Up Flag: Follow up Flag Status: Flagged Sonja, Thank you for your prompt response,and I look forward to speaking with the City attorney, Kinnon Williams, hopefully sometime next week. In looking at what you sent me,and speaking with my client,my understanding is that there has ONLY been an agreement as to the purchase price,conditioned upon agreement to the specific transaction documents,and conditioned upon the City's agreement to reimburse Argo for all of its legal fees and any and all of its lender's fees incurred in connection with the transaction,whether or not final agreements are reached or the deal closes. We understand time is of the essence, and we look forward to working cooperatively with you and the City to resolve this matter as soon as possible. Have a great weekend! Thank you, Ross Ross A. Guttenberg,Esq. Guttenberg& Colvin LLP 16790 Placer Hills Road,Ste.D Meadow Vista,CA 95722 Main Office: (530) 878-2000 Ross Guttenberg Direct: (415)328-3992 Email: rossguttenberg(a,gmail.com On Fri, May 22, 2020 at 3:45 PM Sonja Davis<Sonia@resgnw.com>wrote: Ross, Very good to hear from you, I am going to copy the City's attorney, Kinnon Williams on this email,so he can further explained the need for lender approval on this acquisition. Per my 5/12 email correspondences with owner, I was under the impression that the agreement has been reached (see attached). Please let me know if my understanding is incorrect,time is of the essence and the City was hoping to go to AD in near future. 1 I will have to get an approval on your request for"soft cap of$10,000"from the City. Thank you, Sonja Davis 425-577-2184 From: Ross Guttenberg<rossguttenberg@gmail.com> Sent: Friday, May 22,2020 2:52 PM To:Sonja Davis<Sonja@resgnw.com> Cc: Dayna Desmond <DDesmond@argoinvest.com> Subject: Re: City of Renton_Duvall Ave NE- Sonja, My name is Ross Guttenberg and I am outside legal counsel for Argo Renton, LLC. My client requested I open a direct line of communication with you regarding this transaction. First of all,we believe it is premature to approach Argo's lender for its approval/consent at this time. While we understand lender approval/consent will ultimately be required,we believe we need to come to final agreements with the j City before approaching the lender with any preliminary proposal that we are not yet agreeable to (and beginning incurring associated lender fees with such approval/consent request). To that end, I have not yet began review of the conveyance documents because my client is not willing to begin incurring substantial legal fees related to this transaction without a written agreement from the City to reimburse my client for such legal fees, whether or not the parties are able to reach final agreements. The legal fee reimbursement agreement can be fairly basic, but it will require the City to agree to reimburse my client for all reasonable legal fees incurred in review and negotiation of the documents provided, whether or not the transaction is ultimately agreed to or closes. We can establish a soft cap to begin with..."not to exceed$10,000, and if the legal fees will exceed$10,000,not without prior written consent from City to pay such excess legal fees(if any)", or some similar language. We would also need such agreement to have the City agree to reimburse my client for any lender fees incurred in relation to the transaction. Is the above something the City is agreeable to?Without such legal fee reimbursement agreement,Argo will not be reviewing or responding to the purchase and easement documents requested. Please advise. Also, is there a title commitment for this transaction and can you provide it to me? Thank you,I look forward to resolving this matter with you, Ross 2 Sonja Davis From: Dayna Desmond <ddesmond@argoinvest.com> Sent: Thursday, May 21, 2020 11:43 AM To: Sonja Davis Cc: Stephen Jaeger; Flora Lee Subject: Re: City of Renton_ Duvall Ave NE- Thank you. Please send the consent docs to us and we will discuss best way to handle lender consent. On May 21, 2020, at 11:34 AM,Sonja Davis<Sonja@resgnw.com>wrote: Dayna, Please find attached conveyance documents as requested for your attorney review. Have you made contact with lender?We will need their approval on this acquisition due to the dollar amount,they may require that they sign off on the documents to acknowledge. Please let me know as soon you can, if not I will send you a consent form for us to make contact. Thank you, Sonja Davis 425-577-2184 From: Dayna Desmond<ddesmond@argoinvest.com> Sent:Thursday, May 21,2020 10:50 AM To:Sonja Davis<Sonja@resgnw.com>;Stephen Jaeger<sbjaeger@argoinvest.com> Cc: Flora Lee<FLee@Rentonwa.gov> Subject: RE: City of Renton_Duvall Ave NE- Sonja, You're asking for our review and consent to a PSA,TCE, permanent easement, and to seek and provide you with lender consent,among other obligations we have to our tenants as a result of the city's request. In order to move forward efficiently,our attorney is requesting that you provide all the docs in word so that he can easily redline and comment. We will be happy to provide you with detailed invoices documenting his time, and I'm sure you can understand that$750 will not nearly cover the true out of pocket legal costs we will incur as a result of the city's request. We are willing to cooperate but perhaps we need to first draft a letter of understanding to address attorney's fees. As well, we will need all the docs provided to us in word before we can move forward. Thank you, Dayna Desmond Director of Asset Management Argonaut Investments, LLC 101 Larkspur Landing Circle,Suite 120 Larkspur, CA 94939 1 415-945-2473—Office 415-328-1438—Cell 415-945-2460—Fax ddesmond@argoinvest.com www.argoinvest.com From:Sonja Davis<Sonia@resgnw.com> Sent:Thursday, May 21, 2020 9:13 AM To:Stephen Jaeger<sbiaeger@argoinvest.com> Cc: Dayna Desmond <ddesmond@argoinvest.com>; Flora Lee<FLee@Rentonwa.gov> Subject: RE:City of Renton_Duvall Ave NE- Importance: High Steve, Per Washington State law Chapter 8.25, link below,the agency is responsible to reimburse the owners up to$750. The City of Renton is doing their best to be amicable and responsible for fees incurred by this transaction. Please note all reimbursable fees will have accompany with a detailed invoice showing the details of the work performed. The City can not approve a blanket$20k, please have your attorney provide a reasonable fees associated with their review of the documents only. https://app.leg.wa.gov/RCW/default.aspx?cite=8.25.020 RCW 8.25.020 Payment to defray costs of evaluating offer—Amount. There shall be paid by the condemnor in respect of each parcel of real property acquired by eminent domain or by consent under threat thereof, in addition to the fair market value of the property, a sum equal to the various expenditures actually and reasonably incurred by those with an interest or interests in said parcel in the process of evaluating the condemnor's offer to buy the same, but not to exceed a total of seven hundred fifty dollars. In the case of multiple interests in a parcel, the division of such sum shall be determined by the court or by agreement of the parties. Thank you, Sonja Davis 425-577-2184 From:Stephen Jaeger<sbiaeger@argoinvest.com> Sent:Thursday, May 21, 2020 6:18 AM To:Sonja Davis<Sonja@resgnw.com> Cc: Dayna Desmond <ddesmond@argoinvest.com> Subject: Re: City of Renton_Duvall Ave NE- We appreciate your patience and we are turning the matter over to our attorney to handle from here. We estimate the legal fees to be between approx 20K.All final billing and copies from our attorney will 2 be forwarded as appropriate. Please confirm this is acceptable and we will move the matter forward. Thanks. Steve On May 19, 2020, at 11:07 AM,Sonja Davis<Sonia@resgnw.com>wrote: Steve and Dayna, Will you please provide status of your attorney review and if they could provide an estimated cost of review(the City would like to pre-approve that if at all possible.) We are hoping to get everything wrapped up as soon as possible and if you could assist in fast tracking this process would be much appreciated. Thank you, Sonja Davis 425-577-2184 From:Stephen Jaeger<sbiaeger@argoinvest.com> Sent:Thursday, May 14, 2020 4:35 PM To:Sonja Davis<Sonia@resgnw.com> Cc: Dayna Desmond <ddesmond ar oin est.com> Subject: Re: City of Renton_Duvall Ave E- 100K On May 14, 2020, at 3:46 P , Sonja Davis<Sonia@resgnw.com>wrote: Steve, The City would like to approve the amount in advance. Will you be able provide an estimate cost for your attorney review? Thank you, Sonja Davis 425-577-2184 From:Step n Jaeger<sbiaeger@argoinvest.com> Sent:Thur day, May 14, 2020 12:59 PM To:Sonja 6avis<Sonia@resgnw.com> Cc: DaynaiDesmond <ddesmond@argoinvest.com> Subject/Re: City of Renton_Duvall Ave NE- Ok 3 Sonja Davis From: Stephen Jaeger <sbjaeger@argoinvest.com> Sent: Thursday, May 14, 2020 4:35 PM To: Sonja Davis Cc: Dayna Desmond Subject: Re: City of Renton_ Duvall Ave NE- 100K On May 14, 2020, at 3:46 PM,Sonja Davis<Sonja@resgnw.com>wrote: Steve, The City would like to approve the amount in advance. Will you be able provide an estimated cost for your attorney review? Thank you, Sonja Davis 425-577-2184 From:Stephen Jaeger<sbjaeger@argoinvest.com> Sent:Thursday, May 14, 2020 12:59 PM To:Sonja Davis<Sonja@resgnw.com> Cc: Dayna Desmond <ddesmond@argoinvest.com> Subject: Re: City of Renton_Duvall Ave NE- Ok On May 14, 2020, at 12:55 PM,Sonja Davis<Sonia@resgnw.com>wrote: Mr.Jaeger, Any acquisition above$10,000 will have to through lender approval,this is the WSDOT guidelines for all state agencies. I don't see how we can go around that. I will get approval for the attorney fees from the City. Additionally, all lender fees associated with this transaction will be paid by the City. Thank you, Sonja Davis 425-577-2184 1 From:Stephen Jaeger<sbiaeger@argoinvest.com> Sent:Thursday, May 14, 2020 11:36 AM To:Sonja Davis<Sonia@resgnw.com> Cc: Dayna Desmond <ddesmond@argoinvest.com> Subject: Re: City of Renton_Duvall Ave NE- Sonja we are simply not in a position to get lender consents right now.Also we need to have all documents reviewed by our attorney and will need all attorney fees additionally paid for by the city as well. On May 14, 2020, at 11:24 AM, Sonja Davis<Sonja@resgnw.com> wrote: Thank you Mr.Jaeger, Have you and Dayna had a chance to review the conveyance documents? Will you please assist in getting in tough with your lender, we will need their consent and the City is requesting a partial reconveyance for the portion needed for the permanent easement. The City has opened an escrow with Chicago title and attached is the seller disclosure statement that will need to be completed and returned with a copy of entity documents for Argo Renton, LLC; Operating Agreement,Articles of Organization, and signing authority. Please don't hesitate to contact me with any questions. Sonja Davis 425-577-2184 From:Stephen Jaeger<sb'ae er ar oinvest.com> Sent:Tuesday, May 12, 2020 6:25 PM To:Sonja Davis<Sonja@resgnw.com> Cc: Dayna Desmond <ddesmond@argoin est.com> Subject: Re: City of Renton_Duvall Ave/NE- Sure we are happy to accept and wdrk with the City. On May 12, 200//0, at 3:04 PM,Sonja Davis <Sonja@resghw.com>wrote: / 2 Sonja Davis From: Stephen Jaeger <sbjaeger@argoinvest.com> Sent: Tuesday, May 12, 2020 6:25 PM To: Sonja Davis Cc: Dayna Desmond Subject: Re: City of Renton_ Duvall Ave NE- Sure we are happy to accept and work with the City. On May 12, 2020, at 3:04 PM,Sonja Davis<Sonja@resgnw.com>wrote: Mr.Jaeger, I am just checking in to how you plan to proceed. Please let me know if you are planning to propose a counter. As you are aware that this is frontage/pavement improvement project and your parking as is will not be impacted what so ever. The City would appreciate your decision as soon as possible so we can move forward so we can move forward with this project. Thank you, Sonja Davis 425-577-2184 From:Sonja Davis Sent: Friday, May 1, 20 12:42 PM To:Stephen Jaeger<sbjaeger@argoinvest.com> Cc: Dayna Desmo d <ddesmond@argoinvest.com> Subject: RE: Cit of Renton_Duvall Ave NE- Mr.Jaeger, The goal of the City is to acquire the necessary property rights to construct this vital project using the public nds. The City is accountable to both the State and the public for the use of the funds for the proje t. Any additional compensation must be supported, documented,justified, and reasonable. If you disagree with the City's offer valuation please provide a counter proposal with market support for th difference. /thank you, Sonja Davis 425-577-2184 From:Stephen Jaeger<sbiaeger@argoinvest.com> Sent: Friday, May 1, 2020 11:52 AM To:Sonja Davis<Sonia@resgnw.com> 1 Sonja Davis From: Sonja Davis Sent: Friday, May 1, 2020 12:42 PM To: Stephen Jaeger Cc: Dayna Desmond Subject: RE: City of Renton_ Duvall Ave NE- Mr.Jaeger, The goal of the City is to acquire the necessary property rights to construct this vital project using the public funds. The City is accountable to both the State and the public for the use of the funds for the project. Any additional compensation must be supported, documented,justified, and reasonable. If you disagree with the City's offer valuation please provide a counter proposal with market support for the difference. Thank you, Sonja Davis 425-577-2184 From:Stephen Jaeger<sbjaeger@argoinvest.com> Sent: Friday, May 1, 2020 11:52 AM To:Sonja Davis<Sonja@resgnw.com> Cc: Dayna Desmond <ddesmond@argoinvest.com> Subject: Re: City of Renton_Duvall Ave NE- Sonja can we pls make it an even 100K and we can move forward with approval. On May 1, 2020, at 11:30 AM, Sonja Davis<Sonia@resgnw.com>wrote: Dayna and Stephen, Checking on the status of the City's offer,will you please let me know how you would like to proceed. Please let me know if you need additional information to assist your determination. Thank you, Sonja Davis 425-577-2184 From:Sonja Davis Sent: Friday,April 2 , 2020 11:57 AM To:Stephen Jaeg <sbiaeger@argoinvest.com>; Dayna Desmond<ddesmond@argoinvest.com> Subject: City of enton_Duvall Ave NE- Stephen an Dayna, 1 Sonja Davis From: Sonja Davis Sent: Friday, April 24, 2020 11:57 AM To: Stephen Jaeger; Dayna Desmond Subject: City of Renton_Duvall Ave NE- Stephen and Dayna, I have relayed the information you've provided to the City's public works department and they have spoken with the City's Development Engineering Manager, Brianne Bannwarth and her contact information is below. She will be happy to work with you to get the necessary information to address your concerns. BRIANNE BANNWARTH, P.E. I Development Engineering Manager Community& Economic Development Department I Planning Division City of Renton 11055 S. Grady Way I Renton WA 98057 BBannwarth@Rentonwa.gov I will check back with you next week to see how your review of the City's offer is going. Best Regards, Sonja Davis, R/W-RAC D:425-577-2184 Email:sonja@resgnw.com 40Group Northwest 1 Sonja Davis From: Stephen Jaeger <sbjaeger@argoinvest.com> Sent: Tuesday,April 21, 2020 3:53 PM To: Sonja Davis Cc: Dayna Desmond Subject: FW: Storm Requirements for Central Highlands Attachments: PRE15-000693 Central Highlands Plaza SP Honey Creek Erosion Hazard Map.pdf; City Amendments to the 2009 KCSWDM Flow Control Map.pdf Here was some pushback from city... Stephen Jaeger Argonaut Investments 415-945-2474 From: Michael Karasik Sent:Tuesday,April 21, 2020 1:57 PM To:Stephen Jaeger<sbjaeger@argoinvest.com> Subject: FW:Storm Requirements for Central Highlands From:Ann Fowler<AFowler@Rentonwa.gov> Sent:Thursday, November 19, 2015 3:58 PM To: 'Jason Hubbell'<jhubbell@barghausen.com> Cc: Rocale Timmons<RTimmons@Rentonwa.gov>; Michael Karasik<mkarasik@argoinvest.com>; Stephen Jaeger <sbjaeger@argoinvest.com>;Joe Laughlin<jlaughlin@argoinvest.com>; Erinne Mickle<EMickle@argoinvest.com> Subject: RE:Storm Requirements for Central Highlands Good Morning Jason— The City has reviewed your analysis regarding the flow control standard "40/20 rule". Unfortunately,we must disagree with your classification and request to apply existing site conditions.The Forested Conditions requirement is applicable to areas draining to streams that have erodible channels, regardless of the existing conditions or length of time they have been in place.The Flow Control Applications Map (attached)shows the areas there the "forested" and "existing" conditions are allowed (this can also be found in the City Amendments to the 2009 KCSWDM).The downstream condition along Honey Creek is classified as a high risk erosion area as shown in the attached Erosion Hazard Map,which is what triggers the classification of"forested" and takes priority over existing conditions. We do agree with your understanding of the flow control detention requirement as specified for target impervious surface,which, in the case of this project,will be a net zero change in target impervious surface since the parking lot was constructed prior to 2001. However,since the existing parking lot is currently used/designed to collect ponding,you will need to be sure to take that into account in your analysis and design to avoid flooding of the new parking lot and building—noting that it was flooded here on Monday with the heavy rains we experienced. With regards to the water quality design, since the site is a commercial site,the enhanced water quality menu is required. However, a basic water quality wet vault may be used provided the site can comply with exceptions from the 1 enhanced water quality menu as described in section 1.2.8 of the City Amendments to the 2009 KCSWDM.Additionally, a traffic study will be required to determine applicability to Special Requirement#5—Oil Control.The wet vault may be modified to comply with this requirement, if applicable, per Section 6.1.5. Let me know if you have any additional questions. I'm happy to discuss any of these items further if desired. —Thanks Ann Fowler ® Civil Engineer II I CED AFowlerc Rentonwa.gov I Phone: (425)430-7382 WIA Please consider the environment before printing this email From: Jason Hubbell [mailto:jhubbell@barghausen.com] Sent: Tuesday, November 17, 2015 8:54 AM To: Ann Fowler Cc: Rocale Timmons; Michael Karasik(MKarasik@argoinvest.com); Stephen Jaeger(sbjaeger@argoinvest.com); Joe Laughlin (JLaughlin@argoinvest.com); 'EMickle@argoinvest.com' Subject: RE: Storm Requirements for Central Highlands Ann, Do you have a sense of the city's timing to respond to us on this?Any chance it will be prior to the holiday? Thanks From: Ann Fowler [mailto:AFowler@Rentonwa.gov] Sent: Tuesday, November 10, 2015 10:45 AM To: Jason Hubbell Cc: Rocale Timmons; Michael Karasik(MKarasik@argoinvest.com); Stephen Jaeger(sbjaeger@argoinvest.com); Joe Laughlin (JLaughlin@argoinvest.com); 'EMickle@argoinvest.com' Subject: RE: Storm Requirements for Central Highlands Good Morning Jason— Thank you for sending this over. We will review your request and supporting information and get back to you with any comments/questions. —Thanks Ann Fowler (;) Civil Engineer II I CED AFowler@Rentonwa.gov I Phone: (425)430-7382 APlease consider the environment before printing this email From: Jason Hubbell [mailto:jhubbell@barghausen.com] Sent: Tuesday, November 10, 2015 7:58 AM To: Ann Fowler Cc: Rocale Timmons; Michael Karasik (MKarasik@argoinvest.com); Stephen Jaeger(sbjaeger@argoinvest.com); Joe Laughlin (JLaughlin@argoinvest.com); 'EMickle@argoinvest.com' Subject: Storm Requirements for Central Highlands Ann, See attached letter and supporting information for confirming the storm requirements on the project. If you recall at the pre-application meeting it was agreed that this would be a good approach for us to get verification from the city on the 2 requirements of this redevelopment project. Let me know if you need anything further from me in regard to this request. Thanks Jason Hubbell, P.E. Senior Project Engineer Barghausen Consulting Engineers, Inc. 18215 72nd Avenue South Kent,WA 98032 (425)251-6222-Phone (425)251-8782-Fax http://www.barghausen.com • Sonja Davis From: Stephen Jaeger <sbjaeger@argoinvest.com> Sent: Tuesday,April 21, 2020 3:52 PM To: Sonja Davis Cc: Dayna Desmond Subject: FW: Renton,WA -storm water retention system Attachments: 17692-D-SITE-PRLM-2015-09-22.pdf Stephen Jaeger Argonaut Investments 415-945-2474 From: Michael Karasik Sent:Tuesday,April 21,2020 1:56 PM To:Stephen Jaeger<sbjaeger@argoinvest.com> Subject: FW: Renton,WA-storm water retention system From:Jason Hubbell<Ihubbell@barghausen.com> Sent:Tuesday,January 12, 2016 8:35 AM To:Andrew Rappe<arappe@core-eng.com>; Stephen Jaeger<sblaegerc argoinvest.com>; Erinne Mickle <EMickle@argoinvest.com> Cc:Cramer Foster<cfoster@kiddermathews.com>; Michael Karasik<mkarasik@argoinvest.com>; Lisa Travaglini <LisaT@argoinvest.com>; Pulcheon,Steve<Steve.Pulcheon@vum.com>; Dilley, Michael<Michael.Dillev@vum.com>; Rune Harkestad<runeh@kiddermathews.com> Subject: RE: Renton,WA-storm water retention system All, Attached is a copy of the preliminary site plan we created. No work has been completed on the storm system the city is requiring as it was our intent to have it eliminated from the very start.We can discuss this further during the call. Does 1:00 PDT Thursday work for a call for everyone? Thanks From: Andrew Rappe [mailto:arappecore-eng.com] Sent: Monday, January 11, 2016 1:53 PM To: Jason Hubbell; Stephen Jaeger; Erinne Mickle Cc: Cramer Foster; Michael Karasik; Lisa Travaglini; Pulcheon, Steve; Dilley, Michael; Rune Harkestad Subject: RE: Renton, WA - storm water retention system Jason, 1 Thank you for reaching out to us. We discussed the project this morning and would like to set up a conference call later this week to discuss.Tuesday and Wednesday are both full, but Thursday and Friday may work. Can you please set up a time that would work for your group and send out an invite to me,Steve Pulcheon, and Mike Dilley? Also, could you please send out plans showing the potential storm drain conflict?We have the attached ALTA, but no other existing plans.Any additional drawings you could send would be appreciated. Thank you, Andrew Rappe, PE I Core States Group d. 909.467.8919 o. 909.467.8907 www.core-eng.com From:Jason Hubbell [mailto:jhubbell@barghausen.com] Sent: Monday,January 11, 2016 12:31 PM To:Stephen Jaeger<sbiaeger@argoinvest.com>; Erinne Mickle<EMickle@argoinvest.com> Cc: Cramer Foster<cfoster@kiddermathews.com>; Michael Karasik<MKarasik@argoinvest.com>; Lisa Travaglini <LisaT@argoinvest.com>; Pulcheon, Steve<Steve.Pulcheon@yum.com>; Dilley, Michael<Michael.Dilley@yum.com>; Andrew Rappe<arappe@core-eng.com>; Rune Harkestad <runeh@kiddermathews.com> Subject: RE: Renton,WA-storm water retention system Taco Bell Team, I have not heard from any of you on this one but am more than happy to answer any questions or provide any assistance as necessary. If there is a particular person I should be contacting on this please let me know and I can give them a call. Thanks From: Stephen Jaeger [mailto:sbjaeger@aargoinvest.com] Sent: Monday, December 28, 2015 12:28 PM To: Erinne Mickle Cc: Cramer Foster; Michael Karasik; Lisa Travaglini; Jason Hubbell; Pulcheon, Steve; Dilley, Michael; Andrew Rappe; Rune Harkestad Subject: Re: Renton, WA- storm water retention system Jason pls work direct with Taco Bell construction folks. Thx On Dec 28, 2015, at 1:12 PM, Erinne Mickle <EMickle@argoinvest.com>wrote: Hi Cramer— Below is our engineer's contact information. He is also copied on this email. Please let me know if there is anything else you need from us. Jason Hubbell,P.E. Senior Project Engineer Barghausen Consulting Engineers, Inc. 18215 72nd Avenue South Kent,WA 98032 (425)251-6222-Phone (425)251-8782-Fax http://www.barghausen.com 2 Best Regards, Evfvlvtei M tckxei Sr.Portfolio Manager Argonaut Investments,LLC 770 Tamalpais Drive#401B Corte Madera,CA 94925 415-945-2473 - Office 415-226-8541 - Cell 415-945-2460-Fax emickle@argoinvest.com www.argoinvest.com From: Cramer Foster [mailto:cfoster@tkiddermathews.com] Sent: Monday, December 28, 2015 11:34 AM To: Stephen Jaeger; Michael Karasik; Erinne Mickle; Lisa Travaglini Cc: Pulcheon, Steve; Dilley, Michael; Andrew Rappe; Rune Harkestad Subject: Re: Renton, WA - storm water retention system Hi Steve, Please see the email below from Taco Bell with regard to their request to try and figure out a solution to the storm water issue. I have also cc'd on this email their construction crew in hopes that you could put them in direct contact with your engineer to try to work a solution to the problem. Can you please arrange this? Thanks, Cramer Foster Senior Associate KIDDER MATHEWS 1201 Pacific Ave,Suite 1400,Tacoma,WA 98402 T 253.722.1423 I C 253.241.7244 I F253.722.1409 cfoster@kiddermathews.com I kiddermathews.com Please consider the environment before printing this email. On Dec 22, 2015, at 3:20 PM, Dilley, Michael <Michael.Dilley@yum.com>wrote: Cramer— Per your email on 12/16 about the Landlord's increase cost estimate,we'd like to get our construction team in direct contact with the Landlord and their team. I think it makes sense to let the experts talk directly to each other to make sure the right questions are being asked and the right information is being shared. I have copied Steve Pulcheon on this who is our Construction Manager for the project. 3 Please put us in contact with the Landlord and their team so that we can find a solution. Thanks, Mike Dilley, CCIM Real Estate Manager Taco Bell Corp 7100 Corporate Dr Plano,TX 75024 817-965-1660 Cell Michael.Dillev@vum.com "This communication is confidential and may be legally privileged. If you are not the intended recipient, (i) please do not read or disclose to others, (ii)please notify the sender by reply mail, and (iii)please delete this communication from your system. Failure to follow this process may be unlawful. Thank you for your cooperation." 4 Sonja Davis From: Stephen Jaeger <sbjaeger@argoinvest.com> Sent: Tuesday,April 21, 2020 1:58 PM To: Sonja Davis Cc: Dayna Desmond Subject: FW: Reassigned Planner- Central Highlands Plaza—PRE15-000693 See below for who we were dealing with at the City back in 2016 Stephen Jaeger Argonaut Investments 415-945-2474 From: Michael Karasik Sent:Tuesday,April 21,2020 1:55 PM To:Stephen Jaeger<sbjaeger@argoinvest.com> Subject: FW: Reassigned Planner-Central Highlands Plaza—PRE15-000693 From: Rocale Timmons<RTimmons@Rentonwa.gov> Sent:Tuesday,September 6, 2016 8:55 AM To:Stephen Jaeger<sbjaeger@argoinvest.com> Cc:Jason Hubbell<jhubbell@barghausen.com>; Michael Karasik<mkarasik@argoinvest.com>;Joe Laughlin <ilaughlin@argoinvest.com>;Ann Fowler<AFowler@Rentonwa.gov>;Vanessa Dolbee<VDolbee@Rentonwa.gov> Subject: RE: Reassigned Planner-Central Highlands Plaza—PRE15-000693 Hello Stephen, For the benefit of the new planner that will be assigned I will clarify that the concern you have is with respect to infrastructure improvements. I would continue to work with your Plan Reviewer,Ann Fowler, regarding flexibility for improvements.You can also contact Vanessa Dolbee if you have additional questions regarding the zone and development standards. Thank you. Rocale Timmons From: Stephen Jaeger [mailto:sbjaeger(Targoinvest.com] Sent: Sunday, September 04, 2016 8:56 PM To: Rocale Timmons Cc: Jason Hubbell; Michael Karasik; Joe Laughlin; Ann Fowler; Vanessa Dolbee Subject: Re: Reassigned Planner- Central Highlands Plaza — PRE15-000693 Thank you. But your(city) insistence upon not allowing the slightly lesser scope of underground improvement has made it cost prohibitive for us to proceed. It's a shame for the center and the city. I wonder if there is an avenue or possibility to reconsider the city position? Please let us know if it would be possible to further discuss.Thanks. 1 Stephen Jaeger On Sep 4, 2016, at 7:30 PM, Rocale Timmons<RTimmons@Rentonwa.gov>wrote: Hello Central Highlands Team, I have recently accepted a position outside of the City and my last day will be September 15, 2016. You will be reassigned a new Current Planner once you inform the City of your plans for development. Until then,your primary contact will be the Current Planning Manager,Vanessa Dolbee (contact attached), for the following project. I have provided a very small brain dump to identify key components of the proposal (from the Current Planning perspective)for clarity as you transition on to a new project manager. Central Highlands —PRE15-000693 Brief Project Description: short plat the property into two lots in order to site a new 3,325 square foot fast food restaurant with associated drive thru. • Orientation to the Sunset Blvd • Street improvements to match McDonalds to the west • Extensive stormwater improvements I would encourage you to respond to this email with a status of your next step to assist in prioritizing and scheduling. And I would like to express my appreciation for having worked along-side all of you for this project. Feel free to let me know if you other items you would like added to this list to ensure Vanessa has the benefit of the history we shared. Please keep in mind my time will be tight so I may not have the opportunity to go into depth on every detail of the projects but I will do my best. Wishing you all the best.Thank you again! Rocale Timmons City of Renton -Current Planning Senior Planner 1055 South Grady Way Renton,WA 98057 Tel: (425)430-7219 Fax: (425)430-7300 rtimmons@rentonwa.gov 2 Sonja Davis From: Dayna Desmond <ddesmond@argoinvest.com> Sent: Tuesday,April 14, 2020 11:19 AM To: Sonja Davis Subject: Re: City of Renton_Duvall Ave NE_Parcel 15 Argo Renton Sure.Will have to be 1pm in that case as we have back to back calls until then. Please call me at 1pm thx. On Apr 14,2020, at 11:17 AM, Sonja Davis<Sonja@resgnw.com>wrote: Dayna, I have to step away from my desk for an hour. Could we postpone the call for another hour? Thank you, Sonja Davis 425-577-2184 From: Dayna Desmond<ddesmond@argoinvest.com> Sent:Tuesday,April 14, 2020 10:07 AM To:Sonja Davis<Sonja@resgnw.com> Cc:Stephen Jaeger<sbjaeger@argoinvest.com> Subject: RE:City of Renton_Duvall Ave NE_Parcel 15 Argo Renton Sonja, We received your correspondence. We would like to discuss this request with you, or the appropriate City contact. What is the anticipated timing for this project? Thanks, Dayna Desmond Director of Asset Management Argonaut Investments, LLC 101 Larkspur Landing Circle,Suite 120 Larkspur, CA 94939 415-945-2473—Office 415-328-1438—Cell 415-945-2460—Fax ddesmond@argoinvest.com www.argoinvest.com From:Adam Lofgren <alofgren@argoinvest.com> Sent:Tuesday,April 14,2020 9:09 AM To: Dayna Desmond<ddesmond@argoinvest.com> 1 Cc: Kimberly Payne<kpavne@argoinvest.com> Subject: Fwd: City of Renton_Duvall Ave NE_Parcel 15 Argo Renton Dayna, See attached from City of Renton. Adam Lofgren Property Manager Argonaut Investments o: (415) 945-2479 c: (925)768-2372 Begin forwarded message: From:Sonja Davis<Sonja@resgnw.com> Date:April 14, 2020 at 8:24:53 AM PDT To:Adam Lofgren<alofgren@argoinvest.com> Subject:City of Renton_Duvall Ave NE_Parcel 15 Argo Renton Mr. Lofgren, My name is Sonja Davis, a right of way consultant for the City of Renton. I spoke with you briefly back in November of 2019 regarding the proposed project. The City has completed the appraisal of the acquisition area and attached you will find the City's offer for the real estate rights needed for the project from the subject property. The following documents are attached: 1. Offer Letter 2. Real Estate P&S Agreement 3. ROW Easement 4. Temporary Construction Easement 5. Appraisal Report Please let me know if you have any questions, I will check in with you in the next few days if I don't hear from you. Best Regards, Sonja Davis, R/W-RAC D:425-577-2184 Email:sonja@resgnw.com 2 Sonja Davis From: Stephen Jaeger <sbjaeger@argoinvest.com> Sent: Tuesday, April 21, 2020 1:57 PM To: Sonja Davis; Dayna Desmond Subject: RE: City of Renton_Duvall Ave NE_15-Argo Renton Will respond with some background Stephen Jaeger Argonaut Investments 415-945-2474 From:Sonja Davis [mailto:Sonja@resgnw.com] Sent:Tuesday,April 21, 2020 1:38 PM To: Dayna Desmond <ddesmond@argoinvest.com> Cc: Stephen Jaeger<sbjaeger@argoinvest.com> Subject: City of Renton_Duvall Ave NE_15-Argo Renton Dayna, Following up our phone conversation from last Tuesday regarding development of retail pad related issue. Will you just provide bit more detail on the plan and what year that was. Best Regards, Sonja Davis, R/W-RAC D:425-577-2184 Email:sonia@resgnw.com North oup Northwest 1 Sonja Davis From: Adam Lofgren <alofgren@argoinvest.com> Sent: Tuesday,April 14, 2020 8:25 AM To: Sonja Davis Subject: Automatic reply: City of Renton_Duvall Ave NE_Parcel 15 Argo Renton Hello, I will be out on paternity leave from April 10 through April 17,2020.I will not have access to email or phone.During this time,our Property Management Coordinator,Kimberly Payne,will respond to any correspondence sent here.If you need to contact her directly,please do so at kpayne@argoinvest.com. Warm regards, Adam Lofgren Property Manager o:415-945-2479 c:925-768-2372 1 Sonja Davis From: Sonja Davis Sent: Tuesday, April 14, 2020 8:24 AM To: Adam Lofgren Subject: City of Renton_Duvall Ave NE_Parcel 15 Argo Renton Attachments: 15_Argo_Offer sign.pdf; Appraisal Report - Highland Plaza_Argo.pdf; 15_Argo-TCE 2020-03-31.pdf; 15_Argo-ROW 2020-03-31.pdf; 15_ArgoReal Estate PSA 2020413.pdf Mr. Lofgren, My name is Sonja Davis, a right of way consultant for the City of Renton. I spoke with you briefly back in November of 2019 regarding the proposed project. The City has completed the appraisal of the acquisition area and attached you will find the City's offer for the real estate rights needed for the project from the subject property. The following documents are attached: 1. Offer Letter 2. Real Estate P&S Agreement 3. ROW Easement 4. Temporary Construction Easement 5. Appraisal Report Please let me know if you have any questions, I will check in with you in the next few days if I don't hear from you. Best Regards, Sonja Davis, R/W-RAC D:425-577-2184 Email:40Group Northwest 1 TITLE SUMMARY PROJECT TITLE: Duvall Avenue NE PROJECT PARCEL NO.: 15 TAX PARCEL NO.: 149450-0050-09 OWNER/S: Argo Investment,LLC Title Company: Chicago Title Insurance Company Order No.: 194834-TC Preliminary Report Date: November 22,2019 Supplemental No. 1: Supplemental No. 2: SPECIAL EXCEPTIONS: 1. Subject to: Covenants, conditions, restriction, reservations, easements or other servitudes. If any, disclosed by the recorded Plat of Joseph P. Marshall Tracts;recording no. 3250442. 2. Subject to: May Creek Flood Zone District, flood control works under the recording no.5943056. 3. Subject to: May Creek Flood Control Zone District, flood control works under the recording no.5943057. 4. Subject to: Subject to: Covenants, conditions, restriction, and easements but omitting any covenants or restriction, if any set forth in said covenants or restriction is permitted by applicable law,as set forth in the document under the recording no. 7708190846. 5. Subject to: Easements and the terms and provisions thereof under the recording no.7709210680,modified under the recording no.8104290507 and 9604300819. 6. Subject to: City of Renton Storm Sewer Easement under the recording no. 7711160658. 7. Subject to: City of Renton Water Line Easement under the recording no.7711160658. 8. Subject to: Puget Sound Power& Light for Electrical transmission and distribution Easements under the recording no.7807030820. 9. Subject to: Puget Sound Power & Light for Electrical transmission and distribution Easements under the recording no.7903060809. 10. Subject to: Covenants, conditions, restriction, recitals, reservations, easement, easement provisions, dedications, if any, and disclosed and set forth on Central Highlands Plaza Short Plat 1: under the recording no. 8002269014 11. Subject to: Ordinance No.4025 under the recording no.8612031455. 12. Subject to: Covenants, conditions, restriction, recitals, reservations, easement, easement provisions, dedications, if any, and disclosed and set forth on Central Highlands Plasa Binding Site Plan: under the recording no. 8805200326, Amendment under the recording no.9604290131. 13. Subject to: Amendment to Binding Site Plan under the recording no.9605081004. 14. Subject to: Puget Sound Energy Easement for Transmission, distribution and sale of gas under the recording no.20111006000430. 15. Delete: General taxes, no fee acquisition on subject property 16. Subject to: Deed of Trust and Assignment of Rents and/or Lease in the amount of $6,550,000.00, Trustee First American Title Insurance Company, Beneficiary, Bancorp Bank under the recording no. 2. Assignment of Beneficial interest under said deed of trust which names: U. S. Bank Nation Association as Trustee on behalf of the Registered Holders of Citigroup, Commercial Mortgage Securities Inc. Commercial Mortgage Pass- Through Certificate Series 2013-GC17 under the recording no.20140117000693. (Lender will have to sign Easements) OPERATING AGREEMENT OF ARGO RENTON,LLC A DELAWARE LIMITED LIABILITY COMPANY In accordance with the Delaware Limited Liability Company Act and subject to the Certificate of Formation, which was filed on September 9, 2013 with the Secretary of State of Delaware, the sole Member of Argo Renton, LLC listed on the signature page, and Jon Lefferts, as the Springing Member(as defined below), make the following agreement on October 2013 regarding the conduct of the business and affairs of Argo Renton, LLC, a Delaware limited liability company: ARTICLE 1.DEFINITION OF TERMS 1.01 When used in this agreement, the following terms have the meanings set forth here: "Act" means the Delaware Limited Liability Company Act, as amended from time to time,as set forth in Title 6,Chapter 18. "Agreement" means this operating agreement, as originally executed and as amended from time to time. "Available Cash" of the Company means all cash funds of the Company on hand from time to time (other than cash funds obtained as contributions to the capital of the Company by the Member and cash funds obtained from loans to the Company), after (1) payment of all operating expenses of the Company as of such time, (2) provision for payment of all outstanding and unpaid current obligations of the Company as of such time, and (3) provision for a working capital reserve, as defined below. "Capital Account" means the individual account established and maintained pursuant to Paragraph 3.04. "Capital Contribution" means the total value of cash and agreed fair market value of property contributed and agreed to be contributed to the Company by the Member, as shown in Exhibit"A",as the same may be amended from time to time. "Certificate" means the Certificate of Formation for the Company as originally filed with the Secretary of State and as amended from time to time. "Code"means the Internal Revenue Code of 1986, as amended. All references in this Agreement to sections of the Code include any corresponding provision or provisions of succeeding law. OPERATING AGREEMENT OF ARGO RENTON,LLC A DELAWARE LIMITED LIABILITY COMPANY 1.. "Company" means ARGO RENTON, LLC, a Delaware limited liability company. "Interest" in the Company means the entire ownership interest of the Member in the Company at any particular time, including the right of the Member to any and all benefits to which the Member may be entitled as provided in this Agreement and under the Act, together with the obligations of the Member to comply with all of the terms and provisions of this Agreement. "Lender" means The Bancorp Bank, a Delaware state-chartered bank, together with its successors and assigns. "Loan"means the mortgage loan, in the amount of$[6,550,000.00], from Lender to the Company. "Loan Agreement" means that certain Loan Agreement, dated as of October_, 2013,by and between the Company and the Lender in connection with the Loan.. "Manager" means collectively, one or more individuals or entities appointed by consent of the Member and having the authority as set forth in this Agreement. The Manager may, but need not be, a Member, in the discretion of the Member. The initial Manager of the Company is as set forth in Exhibit"A". "Member"means Suncor Partners,LLC,a Delaware limited liability company; provided,however,the term"Member"shall not include the Special Member or the Springing Member. "Membership Interest"means the Member's Interest in the Company. "Percentage Interest" of the Member means the percentage of the Member set forth opposite the name of the Member in Exhibit "A" attached to this Agreement, as the percentage may be adjusted from time to time pursuant to the terms of this Agreement. "Principal office"means the office of this Company determined by the Manager. "Sole Member"has the meaning ascribed thereto in the Loan Agreement. "Special Member" means, upon such person's admission to the Company as a member of the Company pursuant to Section 4.3, a person acting as the Springing Member, in such person's capacity as a member of the Company. A Special Member shall only have the rights and duties expressly set forth in this Agreement. "Springing Member" means a person who is not a member of the Company but who has signed this Agreement in order that, upon the conditions described in Section 4.3, such person can be admitted to the Company as the Special Member without any delay in order that at OPERATING AGREEMENT OF ARGO RENTON,LLC A DELAWARE LIMITED LIABILITY COMPANY 2. all times the Company shall have at least one member. ARTICLE 2. ORGANIZATION OF COMPANY 2.01 Formation of Company. The Member has formed a limited liability company under the Act by properly executing and filing the Articles and executing this Agreement. The rights, duties, and liabilities of the Member and the Manager are determined pursuant to the Act, the Articles,and this Agreement. 2.02 Company Name. The name of the Company is ARGO RENTON, LLC. The Company will transact business under that name. However, the Manager may conduct business under another name if the Manager thinks it advisable,provided that the Manager complies with the Act and any other applicable laws, file fictitious name certificates and the like, and file any necessary amendments. • 2.03 Company Purpose. The purpose of the Company is to engage in any business activity permitted by the Act; provided that the foregoing is and shall be, at all times which the Loan or any portion thereof, is outstanding, subject and subordinate to the provisions of Section 2.04, below. The Company will own, hold, sell, assign, transfer, operate, lease and otherwise deal with real and personal property and improvements thereon located at4601 —4621 NE Sunset Boulevard, in the City of Renton, County of King, State of Washington(the"Property"). 2.04 Special Purpose Bankruptcy Remote Entity. (a) At all times while the Loan, or any portion thereof, is outstanding, the Company: i. will be organized solely for the purpose of owning the Property; ii. will not engage in any business unrelated to the ownership of the Property; iii. will not have any assets other than those related to the Property; iv. will not engage in, seek or consent to any dissolution, winding up, liquidation, consolidation, merger, asset sale (except as expressly permitted by this Agreement), transfer of partnership or membership interests or the like, or amendment of its limited liability company or certificate of formation; v. without the unanimous consent of all of directors, will not, with respect to itself or to any other entity in which it has a direct or indirect legal or beneficial ownership interest (A) file a bankruptcy, insolvency or reorganization petition or otherwise institute insolvency proceedings or otherwise seek any relief under any laws relating to the relief from debts or the protection of debtors generally, (B) seek or consent to the appointment of a receiver, liquidator, assignee, trustee, sequestrator, custodian or any similar official for such OPERATING AGREEMENT OF ARGO RENTON,LLC A DELAWARE LIMITED LIABILITY COMPANY 3. entity or for all or any portion of such entity's properties, (C) make any assignment for the benefit of such entity's creditors or (D) take any action that might cause such entity to become insolvent; vi. intends to remain solvent and has maintained and intends to maintain adequate capital in light of its contemplated business operations; vii. will not fail to correct any known misunderstanding regarding the separate identity of such entity; viii. will maintain its books, records, resolutions and agreements as official records; ix. will not commingle its funds or assets with those of any other Person; x, will hold its assets in its own name; xi." will conduct its business in its name, xii. will maintain its financial statements, accounting records and other entity documents separate from any other Person(as defined in the Loan Agreement); xiii. will pay its own liabilities, including the salaries of its own employees,out of its own funds and assets; xiv. will observe all limited liability company formalities; xv. will maintain an arm's-length relationship with its Affiliates (as defined in the Loan Agreement); xvi. will not have any indebtedness other than Permitted Indebtedness (as defined in the Loan Agreement); xvii. will not assume or guarantee or become obligated for the debts of any other Person or hold out its credit as being available to satisfy the obligations of any other Person except for the Loan; xviii. will not acquire obligations or securities of its partners, members or shareholders; xix. will allocate fairly and reasonably shared expenses, including shared office space,and uses separate stationery, invoices and checks; xx. except in connection with the Loan, will not pledge its assets for the benefit of any other Person; OPERATING AGREEMENT OF ARGO RENTON,LLC A DELAWARE LIMITED LIABILITY COMPANY 4. xxi. will hold itself out and identify itself as a separate and distinct entity under its own name and not as a division or part of any other Person; xxii. will maintain its assets in such a manner that it will not be costly or difficult to segregate, ascertain or identify its individual assets from those of any other Person; xxiii. will not make loans to any Person; xxiv. will not identify its members or any Affiliate of any of them, as a division or part of it; xxv. will not enter into or be a party to, any transaction with its partners, members, shareholders or Affiliates except in the ordinary course of its business and on terms which are intrinsically fair and are no less favorable to it than would be obtained in a comparable arm's-length transaction with an unrelated third party; xxvi. will have no obligation to indemnify its partners, officers, directors, members or Special Members, as the case may be, or has such an obligation that is fully subordinated to the Debt and will not constitute a claim against it if cash flow in excess of the amount required to pay the Debt is insufficient to pay such obligation; xxvii. will consider the interests of its creditors in connection with all limited liability company actions; and xxviii. will maintain its accounts, books and records separate from any other person. (b) As long as any portion of the Loan remains outstanding: i. upon the occurrence of any event that causes Sole Member to cease to be a member of the Company (other than(x) upon an assignment by Sole Member of all of its limited liability company interest in the Company and the admission of the transferee, if permitted pursuant to this Agreement and the Loan Agreement, or (y) the resignation of Sole Member and the admission of an additional member of the Company, if permitted pursuant to this Agreement and the Loan Agreement), a designated special member shall, without any action of any Person and simultaneously with Sole Member ceasing to be a member of the Company , automatically be admitted as the sole member of Company (the "Special Member") and shall preserve and continue the existence of the Company without dissolution; ii. no Special Member may resign or transfer its rights as Special Member unless a successor Special Member has been admitted to the Company as a Special Member; iii. except as expressly permitted pursuant to the terms of the Loan Agreement, Sole Member may not resign and no additional member shall be admitted to the Company; OPERATING AGREEMENT OF ARGO RENTON,LLC A DELAWARE LIMITED LIABILITY COMPANY 5. iv. the Company shall be dissolved, and its affairs shall he wound up only upon the first to occur of the following: (x)the termination of the legal existence of the last remaining member of the Company or the occurrence of any other event which terminates the continued membership of the last remaining member of the Company in the Company unless the business of the Company is continued in a manner permitted by its operating agreement or the Act or(y)the entry of a decree of judicial dissolution under Section 18-802 of the Act; v. upon the occurrence of any event that causes the last remaining. member of the Company to cease to be a member of the Company or that causes Sole Member to cease to be a member of Company (other than (x) upon an assignment by Sole Member of all of its limited liability company interest in the Company and the admission of the transferee, if permitted pursuant to this Agreement and the Loan Agreement, or (y) the resignation of Sole Member and the admission of an additional member of the Company, if permitted pursuant to this Agreement and the Loan Agreement), to the fullest extent permitted by law, the personal representative of such member shall be authorized to, and shall, within 90 days after the occurrence of the event that terminated the continued membership of such member in the Company, agree in writing to continue the existence of the Company and to the admission of the personal representative or its nominee or designee, as the case may be, as a substitute member of the Company, effective as of the occurrence of the event that terminated the continued membership of such member in the Company; vi. the bankruptcy of Sole Member or a Special Member shall not cause such member or Special Member, respectively, to cease to be a member of the Company and upon the occurrence of such an event, the business of the Company shall continue without dissolution; vii. in the event of dissolution of the Company, the Company shall conduct only such activities as are necessary to wind up its affairs (including the sale of the assets of the Company in an orderly manner), and the assets of the Company shall be applied in the manner, and in the order of priority, set forth in Section 18-804 of the Act; viii. to the fullest extent permitted by law,each of Sole Member and the Special Members shall (and hereby do) irrevocably waive any right or power that they might have to cause the Company or any of its assets to be partitioned, to cause the appointment of a receiver for all or any portion of the assets of the Company, to compel any sale of all or any portion of the assets of the Company pursuant to any applicable law or to file a complaint or to institute any proceeding at law or in equity to cause the dissolution, liquidation, winding up or termination of the Company; ix. the business and affairs of the Company shall be managed by or under the direction of a board of one or more directors designated by Sole Member; and x. in the event of any conflict between the terms and provisions of this Paragraph 2.04 and the other terms and provisions of this Agreement, the terms and provisions of this Paragraph 2.04 shall govern and control in all instances. OPERATING AGREEMENT OF ARGO RENTON,LLC A DELAWARE LIMITED LIABILITY COMPANY 6. (c) The Company and the Member hereby expressly acknowledge that Lender is an intended third-party beneficiary of the provisions of this Paragraph 2.04. 2.05 Duration of Company and Agreement. The Company existence commenced on the Effective Date and shall continue until dissolved and liquidated pursuant to the provisions of Article 21 below. ARTICLE 3. MEMBERS AND MEMBERSHIP INTERESTS 3.01 Name,Address,and Initial Capital Contribution of Member. The Member, its address, initial Capital Contribution to the Company, and percentage interest in the Company is set forth on Exhibit"A",attached to this Agreement and made a part of it. 3.02 Future Contributions. The Member may make additional Capital Contributions to the Company other than the Capital Contribution made under Paragraph 3.01 in the Member's sole discretion. 3.03 Member Loans or Services. Loans or services by the Member to the Company may not be considered to be contribution to the capital of the Company without the Member's consent to be exercised in the Member's sole discretion. 3.04 Capital and Capital Accounts. (a) The initial Capital Contribution of the Member is as set forth in Exhibit «A» (b) The Company will establish and maintain a Capital Account on behalf of the Member, including any additional or Substituted Member who shall subsequently receive any interest in the Company. The Capital Account of the Member consists of(i) the amount of cash the Member has contributed to the Company, (ii) the fair market value of any property contributed to the Company, less any liabilities assumed by the Company or to which the property is subject, plus (iii) the amount of profits or income (including tax-exempt income) allocated to the Member, less (iv)the amount of losses and deductions allocated to the Member, less (v) the amount of all cash distributed to the Member, less (vi) the fair market value of any property distributed to the Member, net of any liability assumed by the Member or to which the property is subject, less (vii) the Member's share of any other expenditures that are not deductible by the Company for federal income tax purposes or that are not allowable as additions to the basis of Company property, and (viii) subject to any other adjustments that may be required under the Code. (c) The Member shall not have the right to withdraw its Capital Contribution or to demand and receive property of the Company or any distribution in return for its Capital Contribution, except as may be specifically provided in this Agreement or required by law. The Member may not receive out of Company property any part of its Capital Contribution until (1) all liabilities of the Company, except liabilities to the Member on account of its loans, have been OPERATING AGREEMENT OF ARGO RENTON,LLC A DELAWARE LIMITED LIABILITY COMPANY 7. paid or sufficient Company property remains to pay them, and (2) the Member consents in its sole discretion. (d) Subject to the provisions of subparagraph (c) of this Paragraph 3.04, the Member may rightfully demand the return of its Capital Contribution (1) on the dissolution of the Company,or(2)upon its consent. 3.05 Admission of Additional Capital. Additional capital may be contributed to the Company, as provided in Article 3 and upon the written consent by the Member in its sole discretion. 3.06 Admission of Additional Members. The Member may admit to the Company additional members to participate'in the profits, losses, available cash flow, and ownership of the assets of the Company on such terms as are determined by the Member in its sole discretion. 3.07 Limitation.on Liability. Neither the Member nor the Special Member is liable under a judgment, decree, or order of the court, or in any other manner, for a debt, obligation, or liability of the Company, except as provided by law. The Member is not required to loan any funds to the Company. • 3.08 Transactions with the Company. Subject to any limitations set forth in this Agreement and with the prior approval of the Manager after full disclosure of the Member's involvement, the Member may lend money to and transact business with the Company. Subject to other applicable law, the Member has the same rights and obligations with respect thereto as anyone who is not a Member. 3.09 Members Are Not Agents. Pursuant to Paragraph 5.01 and the Articles, the management of the Company is vested in the Manager. The Member shall have no power to participate in the management of the Company except as expressly authorized by this Agreement or the Articles and except as expressly required by the Act. The Member, acting solely in the capacity of a Member, is not an agent of the Company and does not, unless expressly and duly authorized in writing to do so by the Manager, have any power or authority to bind or act on behalf of the Company in any way,to pledge its credit, to execute any instrument on its behalf or to render it liable for any purpose. 3.10 Regarding the Special Member. Upon the occurrence of any event that causes the Member to cease to be a member of the Company (other than upon continuation of the Company without dissolution upon(i) an assignment by the Member of all of its limited liability company interest in the Company and the admission of the transferee, or (ii) the resignation of the Member and the admission of an additional member of the Company (a "Member Cessation Event"), the Springing Member shall, without any action of any person and simultaneously with the Member Cessation Event, automatically be admitted to the Company as a Special Member and shall continue the Company without dissolution. No Special Member may resign from the Company or transfer its rights as Special Member unless a successor Special Member has been admitted to the Company as Special Member by executing a counterpart to this Agreement; OPERATING AGREEMENT OF ARGO RENTON,LLC A DELAWARE LIMITED LIABILITY COMPANY 8. provided, however, the Special Member shall automatically cease to be a member of the Company upon the admission to the Company of a substitute Member. The Special Member shall be a member of the Company that has no interest in the profits, losses and capital of the Company and has no right to receive any distributions of Company assets. Pursuant to Section 18-301 of the Act, a Special Member shall not be required to make any capital contributions to the Company and shall not receive a limited liability company interest in the Company. A Special Member, in its capacity as Special Member, may not bind the Company. Except as required by any mandatory provision of the Act, a Special Member, in its capacity as Special Member, shall have no right to vote on, approve or otherwise consent to any action by, or matter relating to, the Company, including, without limitation, the merger, consolidation or conversion of the Company. In order to implement the admission to the Company of the Special Member, the Springing Member shall execute a counterpart to this Agreement. Prior to its admission to the Company as Special Member, the Springing Member shall not be a member of the Company. The Special Member shall not be required to make any capital contributions to the Company. 3.11 Regarding the Swinging Member. The Company shall at all times have a Springing Member. No resignation or removal of a Springing Member, and no appointment of a successor Springing Member, shall be effective unless and until such successor shall have executed a counterpart to this Agreement. In the event of a vacancy in the position of Springing Member, the Member shall,as soon as practicable, appoint a successor Springing Member to fill such vacancy. By signing this Agreement, the Springing Member agrees that, should the Springing Member become a Special Member, the Springing Member will be subject to and bound by the provisions of this Agreement applicable to a Special Member. ARTICLE 4. POWER TO AMEND AGREEMENT 4.01 The Power to adopt, alter, amend, or repeal this Agreement is vested entirely in the Member of the Company. ARTICLE 5. MANAGEMENT RIGHTS IN MANAGER 5.01 The business, property and affairs of the Company shall be managed exclusively by the Manager, subject to review by the Member. Except for situations in which the approval of the Member is expressly required by this Agreement, the Manager shall have full, complete and exclusive authority, power, and discretion to manage and control the business, property and affairs of the Company in its best interest, to make all decisions regarding those matters and to perform any and all other acts or activities customary or incident to the management of the Company business,property and affairs. ARTICLE 6. ELECTION OF MANAGER 6.01 (a) The initial Manager specified in Exhibit "A" hereto will serve as the Company's Manager until its resignation or removal. (b) The Manager may be elected at a special meeting called for the purpose of OPERATING AGREEMENT OF ARGO RENTON,LLC A DELAWARE LIMITED LIABILITY COMPANY 9. electing the Manager. The Manager may also be designated by the written consent of the Member. (c) The term of service for the Manager is perpetual unless removed by the affirmative vote of the Member.. ARTICLE 7. REMOVAL OF MANAGER 7.01 (a) The Member may remove a Manager before the expiration of the Manager's term specified in this Agreement by the affirmative vote of the Member. (b) At any meeting of Member called expressly for the purpose, a Manager may be removed for any reason,with or without cause,on a resolution adopted by the Member. ARTICLE 8. ACTION BY MANAGER 8.01 The Manager has full authority to act on behalf of the Company and its Member in its best interest. ARTICLE 9. COMPENSATION OF MANAGER 9.01 It is acknowledged that the Manager has other business interests to which the Manager devotes part of the Manager's time. The Manager shall devote such time to the conduct of the business of the Company as the Manager, in the Manager's sole discretion, believes necessary for the successful operation of the business. 9.02 The Manager shall be entitled to compensation for the Manager's services as determined by the Member, and to reimbursement for all expenses reasonably incurred by the Manager in the performance of the Manager's duties. ARTICLE 10. EXECUTION OF DOCUMENTS 10.01 The Manager has the authority to execute documents and instruments for the acquisition, mortgage, or disposal of property on behalf of the Company, to enter into and bind the Company to contractual relations and receive and disburse funds on behalf of the Company. ARTICLE 11. MEETINGS OF MEMBERS 11.01 (a) No meetings of the Member are required. However,to the extent meetings are held,meetings of the Member will take place at any location designated by the Member. (b) The Member may call a special meeting at any time. • (c) The transactions of the Member at any meeting, however called or noticed, or wherever held, shall be as valid as though transacted at a meeting duly held after call OPERATING AGREEMENT OF ARGO RENTON,LLC A DELAWARE LIMITED LIABILITY COMPANY 10. and notice, if the Member signs a written approval of the minutes of the meeting. (d) The Member shall keep or cause to be kept with the books and records of the Company full and accurate minutes of all meetings, notices and waivers of notices of meetings, and all written consents in lieu of meetings. ARTICLE 12. ACTION BY CONSENT WITHOUT MEETING. 12.01 Any action permitted to be taken by the Member may be taken without a meeting if the Member consents by signing a written approval of the action. Any action by written consent shall have the same force and effect as a vote by the Member. ARTICLE 13. VOTE BY PROXY 13.01 The Member may vote either in person or by proxy. Proxies must be executed in writing by the Member. A telegram, cablegram, or similar transmission by the Member or a photographic, photostatic, facsimile, e-mail or similar reproduction of a writing executed by the Member is deemed an execution in writing for purposes of this Agreement. ARTICLE 14. ALLOCATIONS: DISTRIBUTIONS AND INTERESTS 14.01 Allocation of Net Income,Net Loss,or Capital Gains. The Member intends the Company to be disregarded as an entity separate from its sole Member pursuant to Treas. Reg. section 301.7701-3(b)(1)(ii) for U.S. federal tax purposes (except as otherwise required by U.S. federal tax regulations) and,to the greatest extent possible,for State income tax purposes. 14.02 Distributions. Distributions of net income from net revenues and other sources after accounting for all required administrative and operating expenses plus a reasonable reserve will be allocated to the Member,first to its unreturned Capital Contribution until it has recovered its Capital Contribution,and then to it as sole Member of the Company. It is anticipated that Available Cash will be distributed by the Manager as reflected herein but need not be distributed to the extent that the cash is required for a reasonable working capital reserve for the Company; the amount of the reasonable working capital reserve is to be determined by the Manager in its sole discretion. ARTICLE 15. INDEMNIFICATION OF MEMBERS AND MEMBERS' FIDUCIARY DUTIES 15.01 The Company will indemnify the Member for any act taken in the capacity of a Member, other than as provided in the Act. Notwithstanding the foregoing, until the Loan is paid in full, no indemnity payment from funds of the Company (as distinct from funds from other sources, such as insurance) of any indemnity under this Paragraph 15.01 shall be payable from amounts allocable to any other person pursuant to the Loan Agreement. OPERATING AGREEMENT OF ARGO RENTON,LLC • A DELAWARE LIMITED LIABILITY COMPANY 11. ARTICLE 16. INDEMNIFICATION OF MANAGER AND MANAGER'S FIDUCIARY DUTIES 16.01. The Company shall indemnify the Manager for any act taken in the capacity of a Manager, other than as provided in the Act. Notwithstanding the foregoing, until the Loan is paid in full, no indemnity payment from funds of the Company (as distinct from funds from other sources, such as insurance) of any indemnity under this Paragraph 16.01 shall be payable from amounts allocable to any other person pursuant to the Loan Agreement. ARTICLE 17. COMPANY RECORDS AND REPORTS 17.01. Records and Accounting; Fiscal Year. The books and records of the Company will be kept, and the financial position and the results of its operations recorded, in accordance with the accounting methods elected to be followed by the Company for federal and state income tax purposes. The books and records of the Company must reflect all Company transactions and must be appropriate and adequate for the Company's business. The fiscal year of the Company for financial reporting and for federal income tax purposes is the calendar year. 17.02. Access to Accounting Records. All books and records of the Company will be maintained at any office of the Company or at the Company's principal place of business. ARTICLE 18. DISSOLUTION OF COMPANY 18.01. The Company shall be dissolved, its assets shall be disposed of, and its affairs shall be wound up on the first to occur of the following events: (a) Determination by the Member that the Company should be dissolved. (b) The expiration of the Company term as stated in the Articles,if any. (c) Upon the entry of a decree of judicial dissolution pursuant to Section 17351 of the Act. (d) The sale of all or substantially all of the assets of the Company. (e) The happening of any event that makes it unlawful or impossible to carry on the business of the Company. (t) On the death or insanity of the Member, unless the Member's personal representative or the trustee of its living trust consents to continue the Company within ninety (90)days of such dissolution event. (g) At any earlier time as may be provided by applicable law. 18.02 Upon dissolution and after winding up, any remaining assets of the Company OPERATING AGREEMENT OF ARGO RENTON,LLC A DELAWARE LIMITED LIABILITY COMPANY 12. shall be distributed to the Member in accordance with Article 14. ARTICLE 19. MISCELLANEOUS PROVISIONS 19.01. Complete Agreement. This Agreement and the Articles of this Company constitute the complete and exclusive statement of agreement of the Member and the Manager with respect to the subject matter described. This Agreement and the Articles replace and supersede all prior agreements by and between the Member and Manager. This Agreement and the Articles supersede all prior written and oral statements; no representation, statement, or condition or warranty not contained in this Agreement or the Articles is binding on the Member • or has any force or effect. 19.02. Governing Law. This Agreement and the rights of the parties under this Agreement will be governed by, interpreted, and enforced in accordance with the laws of the State of Delaware. 19.03. Binding Effect. Subject to the provisions of this Agreement relating to transferability, this Agreement is binding on and inures to the benefit of the Member, and its respective distributees, successors, and assigns. 19.04. Severability. If any provision of this Agreement is held to be illegal, invalid, or unenforceable under the present or future laws effective during the term of this Agreement, the provision is fully severable;this Agreement is construed and enforced as if the illegal, invalid, or unenforceable provision had never comprised a part of this Agreement; and the remaining provisions of this Agreement will remain in full force and effect and will not be affected by the illegal, invalid, or unenforceable provision; and there will be added automatically as a part of this Agreement a provision as similar in terms to the illegal, invalid, or unenforceable provision as • may be possible and be legal,valid,and enforceable. 19.05. Multiple Counterparts. This Agreement may be executed in several counterparts, each of which is deemed an original but all of which constitute one and the same instrument. However, in making proof only one copy signed by the party to be charged is required. 19.06. Additional:Documents.and Acts. The Member agrees to execute and deliver additional documents and instruments and to perform all additional acts necessary or appropriate to effectuate, carry out, and perform all of the terms, provisions, and conditions of this Agreement and the transactions contemplated by it. 19.07. No Third Party Beneficiary. This Agreement is made solely and specifically among and for the benefit of the parties to it, and their respective successors and assigns, subject to the express provisions of the Agreement relating to successors and assigns, and no other person has or will have any rights, interest, or claims under this Agreement as a third-party beneficiary or otherwise. OPERATING AGREEMENT OF ARGO RENTON,LLC A DELAWARE LIMITED LIABILITY COMPANY 13. 19.08. Notices. Any notice to be given or to be served on the Company or any party to this Agreement in connection with this Agreement must be in writing and is deemed to have been given and received when delivered to the address specified by the party to receive the notice. Notices must be given to the Member at the address specified in Exhibit "A". The Member or the Company may, at any time, designate any other address in substitution of the foregoing address to which notice will be given by giving written notice to the other Members and the Company thirty(30)days before the date of delivery of the notice. 19.09. Amendments. All Amendments to this Agreement must be in writing and signed by the Member. 19.10. Title to Company Property. Legal title to all property of the Company must be held and conveyed in the name of the Company. [SIGNATURE PAGE ATTACHED] OPERATING AGREEMENT OF ARGO RENTON,LLC A DELAWARE LIMITED LIABILITY COMPANY 14. IN WITNESS THEREOF,the undersigned have executed this Agreement, to be effective as of the date first written above and each of the individuals signing below warrants that she has the authority to sign for and on behalf of the respective parties. MEMBER:. MANAGER:(indicating its acceptance of its appointment and agreement to discharge its Suncor Partners, LLC, duties as contained in this Agreement) a Delaware limited liability company, by its Manager Suncor Partners,LLC, a Delaware limited liability company, Corvallis Sunset Partners, LLC, by its Manager an Oregon limited liability company by its Manager Corvallis Sunset Partners,LLC, an Oregon limited liability company Argonaut Investments,LLC, by its Manager a Delaware limit liability company (with respect to ies 2) Argonaut Investments,LLC, a Delaware limited liability company (with respect t" cries 2) By: tegheit B. ae, I; miner By elfrA tephen':. Jai !•r;.Manager SPRINGING MEMBER: 1 r Lefferts OPERATING AGREEMENT OF ARGO RENTON,LLC A DELAWARE LIMITED LIABILITY COMPANY 15. EXHIBIT A CAPITAL CONTRIBUTION OF MEMBERS AND ADDRESSES OF MEMBERS AND MANAGER OF ARGO RENTON,LLC Member's Member's Capital Percentage Member's Name Member's Address Contribution Interest Suncor Partners, LLC, 770 Tamalpais Dr., $2,900,000 100% a Delaware limited liability company #401B Corte Madera, CA 94925 Manager's Name Manager's Address Suncor Partners,LLC, 770 Tamalpais Dr.,#401B a Delaware limited liability company Corte Madera, CA 94925 17. Subject to: Assignment of Rents and Leases, assignee, the Bancorp Bank under recording no. 20131024001186. Lender will need to sign the easement. An assignment which names U. S. Bank Nation Association as Trustee on behalf of the Registered Holders of Citigroup, Commercial Mortgage Securities Inc. Commercial Mortgage Pass-Through Certificate Series 2013-GC17 under the recording no 20140117000694. 18. Subject to: The Bancorp Bank financing statement under the recording no.20131024001187. 19. Subject to: Changes in the financing statement and assigned to U. S. Bank Nation Association as Trustee on behalf of the Registered Holders of Citigroup, Commercial Mortgage Securities Inc. Commercial Mortgage Pass-Through Certificate Series 2013-GC17 under the recording no 20140117000695. 20. Subject to: changes to financing statement of continuation under the recording no.20180509000046 CHICAGO TITLE INSURANCE COMPANY GUARANTEE/CERTIFICATE NO. 194834-TC . ISSl1ING OFFICE: : ;�: �•,.. ..; Title Officer: Rob Hainey Chicago Title Company of Washington 1142 Broadway,Suite 200 Tacoma,WA 98402 Fax: 866-671-3908 Main Phone: (253)671-6623 Email: Rob.Hainey@ctt.com SCHEDULE A Liabilit $1,000.00 $350.00 $35.70 Effective Date: November 22,2019 at 12:00 AM The assurances referred to on the face page are: That, according to those public records which, under the recording laws, impart constructive notice of matter relative to the following described property: SEE EXHIBIT"A"ATTACHED HERETO AND MADE A PART HEREOF Title to said real property is vested in: Argo Renton, LLC, a Delaware limited liability company subject to the matters shown below under Exceptions, which Exceptions are not necessarily shown in the order of their priority. END OF SCHEDULE A • Subdivision Guarantee/Certificate Printed: 12.02.19 @ 02:17 PM Page 2 WA-CT-FBCM-02150.620753-SPS-1-19-194834-TC EXHIBIT "A" Legal Description Lot 5, Central Highlands Plaza, a Binding Site Plan, according to the plat theroef, recorded in Volume 141 of Plats, pages 59 and 60, and Amended in Volume 176 of Plats, pages 76 and 77, in King County,Washington. Subdivision Guarantee/Certificate Printed: 12.02.19 @ 02:17 PM Page 3 WA-CT-FBCM-02150.620753-SPS-1-19-194834-TC CHICAGO TITLE INSURANCE COMPANY GUARANTEE/CERTIFICATE NO. 194834-TC SCHEDULE B H. Reservations and exceptions in United States Patents or in Acts authorizing the issuance thereof. SPECIAL EXCEPTIONS 1. Covenants, conditions, restrictions, recitals, reservations, easements, easement provisions, dedications, building setback lines, notes, statements, and other matters, if any, but omitting any covenants or restrictions, if any, including but not limited to those based upon race, color, religion, sex, sexual orientation,familial status, marital status, disability, handicap, national origin, ancestry, or source of income,as set forth in applicable state or federal laws, except to the extent that said covenant or restriction is permitted by applicable law, as set forth on Joseph P. Marshall Tracts: Recording No: 3250442 2. Easement(s)for the purpose(s)shown below and rights incidental thereto, as granted in a document: Granted to: May Creek Flood Zone District, a created municipal corporation Purpose: Drainage channel and/or other flood control works Recording Date: October 20, 1965 Recording No.: 5943056 Affects: A portion of said premises 3. Easement(s)for the purpose(s)shown below and rights incidental thereto, as granted in a document: Granted to: May Creek Flood Control Zone District a created municipal corporation Purpose: Drainage channel and/or other flood control works Recording Date: October 20, 1965 Recording No.: 5943057 Affects: A portion of said premises 4. Covenants, conditions, restrictions and easements but omitting any covenants or restrictions, if any, including but not limited to those based upon race, color, religion, sex, sexual orientation,familial status, marital status, disability, handicap, national origin, ancestry, source of income, gender, gender identity, gender expression, medical condition or genetic information, as set forth in applicable state or federal laws, except to the extent that said covenant or restriction is permitted by applicable law, as set forth in the document Recording Date: August 19, 1977 Recording No.: 7708190846 5. Declaration of Easements and the terms and provisions thereof Recording Date: September 21, 1977 Recording No.: 7709210680 Said Declaration of Easements has been modified by instrument(s)recorded under Recording No.8104290507 and Recording No. 9604300819. Subdivision Guarantee/Certificate Printed: 12.02.19 @ 02:18 PM Page 4 WA-CT-FBCM-02150.620753-SPS-1-19-194834-TC CHICAGO TITLE INSURANCE COMPANY GUARANTEE/CERTIFICATE NO. 194834-TC SCHEDULE B (continued) 6. Easement(s)for the purpose(s)shown below and rights incidental thereto, as granted in a document: Granted to: City of Renton, a municipal corporation Purpose: Storm sewer with necessary appurtenances Recording Date: November 16, 1977 Recording No.: 7711160658 Affects: A portion of said premises 7. Easement(s)for the purpose(s)shown below and rights incidental thereto, as granted in a document: Granted to: City of Renton, a municipal corporation Purpose: Water line with necessary appurtenances Recording Date: November 16, 1977 Recording No.: 7711160659 Affects: A portion of said premises 8. Easement(s)for the purpose(s)shown below and rights incidental thereto, as granted in a document: Granted to: Puget Sound Power&Light Company Purpose: Electric transmission and/or distribution system Recording Date: July 3, 1978 Recording No.: 7807030820 Affects: A portion of said premises 9. Easement(s)for the purpose(s)shown below and rights incidental thereto, as granted in a document: Granted to: Puget Sound Power&Light Company Purpose: Electric transmission and/or distribution system Recording Date: March 6, 1979 Recording No.: 7903060809 Affects: A portion of said premises 10. Covenants, conditions, restrictions, recitals, reservations, easements, easement provisions, dedications, building setback lines, notes, statements,and other matters, if any, but omitting any covenants or restrictions, if any, including but not limited to those based upon race, color, religion, sex, sexual orientation,familial status, marital status, disability, handicap, national origin, ancestry, or source of income, as set forth in applicable state or federal laws, except to the extent that said covenant or restriction is permitted by applicable law, as set forth on Central Plaza Short Plat 1: Recording No: 8002269014 11. Ordinance No.4025, and the terms and provisions thereof: Recording Date: December 3, 1986 Recording No.: 8612031455 Subdivision Guarantee/Certificate Printed: 12.02.19 @ 02:18 PM Page 5 WA-CT-FBCM-02150.620753-SPS-1-19-194834-TC CHICAGO TITLE INSURANCE COMPANY GUARANTEE/CERTIFICATE NO. 194834-TC SCHEDULE B (continued) 12. Covenants, conditions, restrictions,recitals, reservations, easements, easement provisions, dedications, building setback lines, notes, statements, and other matters, if any, but omitting any covenants or restrictions, if any, including but not limited to those based upon race, color, religion, sex, sexual orientation,familial status, marital status, disability, handicap, national origin,ancestry, or source of income, as set forth in applicable state or federal laws, except to the extent that said covenant or restriction is permitted by applicable law, as set forth on Central Highlands Plaza, a Binding Site Plan, File No. BSP. 091-87: Recording No: 8805200326 An amendement to the Binding Site Plan, recorded April 29,1996, under recording number 9604290131. 13. Administrative Site Plan Review City of Redmond Report and Decision on Amendment to Binding Site Plan and the terms and provisions thereof: Recording Date: May 8, 1996 Recording No.: 9605081004 14. Easement(s)for the purpose(s)shown below and rights incidental thereto, as granted in a document: Granted to: Puget Sound Energy, Inc. Purpose: Transmission, distribution and sale of gas Recording Date: October 6,2011 Recording No.: 20111006000430 Affects: A portion of said premises 15. General and special taxes and charges, payable February 15, delinquent if first half unpaid on May 1, second half delinquent if unpaid on November 1 of the tax year(amounts do not include interest and penalties): Year: 2019 Tax Account No.: 149450-0050 Levy Code: 2100 Assessed Value-Land: $4,476,800.00 Assessed Value-Improvements: $0.00 General and Special Taxes: Billed: $47,930.09 Paid: $47,930.09 Unpaid: $0.00 16. A Deed of Trust and Assignment of Rents and/or Leases Amount: $6,550,000.00 Dated: October 24,2013 Trustor/Grantor:Argo Renton, LLC, a Delaware limited liability company Trustee: First American Title Insurance Company Beneficiary: The Bancorp Bank Recording Date:October 24, 2013 Recording No: 20131024001185 Affects: Lot 5 and other property Subdivision Guarantee/Certificate Printed: 12.02.19 @ 02:18 PM Page 6 WA-CT-FBCM-02150.620753-SPS-1-19-194834-TC CHICAGO TITLE INSURANCE COMPANY GUARANTEE/CERTIFICATE NO. 194834-TC SCHEDULE B (continued) An assignment of the beneficial interest under said deed of trust which names: Assignee: U. S. Bank National Association, as Trustee on behalf of the Registered Holders of Citigroup Commercial Mortgage Securities Inc., Commercial Mortgage Pass-Through Certificates Series 2013-GC17 Recording Date: January 17, 2014 Recording No.: 20140117000693 17. Assignment of Rents and Leases Assigned to: The Bancorp Bank Assigned by: Argo Renton, LLC, a Delaware limited liability company Recording Date:October 24, 2013 Recording No.: 20131024001186 Affects: Lot 5 and other property An assignment of assignment of rents and leases which names: Assignee: U. S. Bank National Association, as Trustee on behalf of the Registered Holders of Citigroup Commercial Mortgage Securities Inc., Commercial Mortgage Pass-Through Certificates Series 2013-GC17 Recording Date: January 17, 2014 Recording No.: 20140117000694 18. A financing statement as follows: Debtor: Argo Renton, LLC Secured Party: The Bancorp Bank Recording Date:October 24, 2013 Thr Recording No.: 20131024001187 Affects: Lot 5 and other property 19. A change to the above financing statement was filed Nature of Change: Assignment Assigned To: U. S. Bank National Association, as Trustee on behalf of the Registered Holders of Citigroup Commercial Mortgage Securities Inc., Commercial Mortgage Pass-Through Certificates Series 2013-GC17 Recording Date: January 17, 2014 Recording No.: 20140117000695 20. A change to the above financing statement was filed: Nature of Change: Continuation Recording Date: May 9,2018 -N Recording No.: 20180509000046 ****************************************************************************************************** Subdivision Guarantee/Certificate Printed: 12.02.19 @ 02:18 PM Page 7 WA-CT-FBCM-02150.620753-SPS-1-19-194834-TC CHICAGO TITLE INSURANCE COMPANY GUARANTEE/CERTIFICATE NO. 194834-TC SCHEDULE B (continued) Note 1: FOR INFORMATIONAL PURPOSES ONLY: The following may be used as an abbreviated legal description on the documents to be recorded, per Amended RCW 65.04.045. Said abbreviated legal description is not a substitute for a complete legal description within the body of the document: Lot 5, Central Highlands Plaza(Amended), Vol 176, Pages 76-77, King Co Tax Account No.: 149450-0050 Note 2: Any map furnished with this Guarantee is for convenience in locating the land indicated herein with reference to streets and other land. No liability is assumed by reason of reliance thereon. Note 3: The legal description in this Guarantee is based on information provided with the application and the Public Records. All parties must notify the Title Insurance Company if the description does not conform to their expectations. END OF SCHEDULE B Subdivision Guarantee/Certificate Printed: 12.02.19 @ 02:18 PM Page 8 WA-CT-FBCM-02150.620753-SPS-1-19-194834-TC Sill —vtiet,/ 20131024001184:001 GCS_t L3 © 1� III 11111 milli AFTER RECORDING MAIL TO: 20131024001184 FIRST AMERICAN ND 73.00 PAGE-001 OF 002 Argo Renton, LLC 20/24/20113Y15KIN COT , 1::32 A 770 Tamapais Drive Ste 401-B Corte Madera,CA 94925 E2637379 10/24/2013 14:45 • KING COUNTY, WA $159,315.00 PAGE-001 OF 001 SALE $8,950,000.00 Filed for Record at Request of: yma ewreV it Rne toe ReeMOm use only First American Title Insurance Company National Commercial Services STATUTORY WARRANTY DEED File No: NCS-622003-WA1(jc) Date: October 17, 2013 Grantor(s): Alamo Renton, LLC Grantee(s): Argo Renton, LLC Abbreviated Legal: Lots 1, 2,3&5,Central Highlands Plaza BSP(176/76) Additional Legal on page: Assessor's Tax Parcel No(s): 149450-0010-08 and 149450-0020-06 and 149450-0030-04 and 149450-0050-09 THE GRANTOR(S)Alamo Renton, LLC, a Delaware limited liability company for and in consideration of Ten Dollars and other Good and Valuable Consideration, in hand paid, conveys, and warrants to Argo Renton, LLC, a Delaware limited liability company, the following described real estate,situated in the County of King,State of Washington. LEGAL DESCRIPTION: Real property in the County of King, State of Washington,described as follows: LOTS 1, 2,3 AND 5,CENTRAL HIGHLANDS PLAZA,A BINDING SITE PLAN,ACCORDING TO THE PLAT THEREOF RECORDED IN VOLUME 176 OF PLATS,PAGES 76 AND 77, SAID PLAT BEING AN AMENDMENT OF THE PLAT RECORDED IN VOLUME 141 OF PLATS, PAGES 59 AND 60, RECORDS OF KING COUNTY WASHINGTON. Subject To: This conveyance is subject to covenants, conditions, restrictions and easements, if any, affecting title, which may appear In the public record, including those shown on any recorded plat or survey. Page 1 of 2 LPB 10-05 20131024001184.002 APN:149450-0010-08 Statutory Warranty Deed File No.:NCS-622003-WA1(jc) -continued Alamo Renton, LLC, a D ware limited liability •.mp:ny • By: Donald F. Gaube, Manager STATE OF ` �1 r ) CiYW COUNTY OF S ))-ss I certify that I know or have satisfactory evidence that Donald F. Gaube, is/aFe the person(s)' who appeared before me, and said person(s) acknowledged that he/shefthey signed this Instrument, on oath stated that he/she/thq.,is/afee authorized to execute the instrument and acknowledged it as the Manager of Alamo Renton, LLC to be the free and voluntary act of such party(-ie9)-for the uses and purposes mentioned in is instrument. Dated: .,0 —a-I--2.0 t 3 r �� r?!/a uAGtr, Notary Public in and for the State of C•11G-c---- Residing at:21' w O My appointment expires: (3)."(7^/? 7017 EYETTE BELIER f Com*2907996 rrnn ti S�.- NOTART PUtUC•CAUFONNU - VF�� RWIED�ca,NTT ,� ip.�' '=qr Caws.EzP.FEL tT.2Ot7 Page 2 of 2 LPB 10-05 JOSEPH P. MARSHALL TRACTS. `" ' WALTERW.WEEDIN SCALE I"•200' REGISTERED PAORESSI DNA ENGINEER 9 LANDSURVEYOR DESCRI PT ON THIS PLAT OF JOS E PH P.MARSHALL TRACTS COVER AND INCLUDES ALL OF THE EAST 12 or THE S.W.V4 OF SEC.3,TW P.23 N.R.SE.W.M.EXCEPT THE COUNTY ROADS. ALL[OURS ES AND DIMENSIONS ARE AS SHOWN GN THE FACE OF THIS PLAT. ALL MONUMENTS ARE AS SHOWN ON FACE OF THIS PLAT. DECLA RAT I ON. _ _ P I.. - KNOW ALL MEN BY THESE PRESENTS THAT L.THE UNDERSIGNED.JOSEPH P.MARSHALL.ONN ER IN FEE SIMPLE OF THE LAND HEREBY PLATTED.HEREBY DECLARE THIS PLAT OF JOSEPH P.MARSH- • I• ALL TRACTS. 'F'I I IN WITNESS WHEREOF I HAVE HEREUNTO SET MY HAND AND SEAL THIS_13 MY OF APRIL A.D.1942 Ik zl uie 202 NeT•im w/3• lve./5 _i" .. JOSEPH P.MARSHALL_ CAPPED 2.9 PIPE lee�/3 SW 63 JOSEPH CSC' GAPPED IS al I ^ ACKNOWLEDGMENT STA }SS e)•IS N8>•95•/9•'w COUNTYTEOF OFCALI LOSANGELES o6>r 9i0.e6 THIS IS TO CERTIFORNIAFY THAT ON THIS I3TH DAY OF APRIL A.D.1942,BEFORE ME,THE UNDER- N SIGNED,ANOTARY PUBLIC,PERSONALLY APPEARED JOSEPH P.MARSHALL TO ME KNOWN TO BE THE PERSON WHO EXECUTED THE FOREGOING DECLARATION,AND WHO ACKNOWLEDGED TOME THAT HE SIGN ED ANDSEALE0 TILE SAME AS HIS VOLUNTARY ACT AND DEED FOR THE USES AND IQ V' 2 PURPOSES THEREIN MENT IONED• WITNESS MY HAND AND OFFICIAL SEAL THE DAY AND YEAR FIRST ABOVE WRITTEN. T.B_DICKEY Her 40 25-11 Ne12E'W NOT<PL/NO ACS)TEOF__6O/INL__ _ � TES, 320.9e WEARY RIBUG,/NA/0FOR TN£LOUNTYF LOSAARMES.STATED"Glf0AN14, , fMN FA/RC sewn-NBEA 27 I9E4 f,DES/a o / 13 3 . :� .. I'RESTRICT IONS. N' NO LET,OR PORTION OF A LOT OF THIS PLAT,EXCEPTING THOSE LOTS WHICH ARE HEREI N- N6T•A•)rw xe>•tt•trw Sel.rt AFTERRESTRICTED TO BUSINESS USE,SHALL BE DIVIDED AND SOLD OR RESOLD,OR OWNERSHIP 103.90 229.6a 3N.zT CHANGED OR TRANSFERRED.WHEREBY THE OWNERSHIP OFANY PORTION OF THIS PLAT SHALL • N _I SE LESS THAN THE AREA REQUIRED FOR THE USE DISTRICT STATED ON THIS PLAT. . 12 °'•2' $ 4 ^oC 5 .... ALL TRACTS IN THIS PLAT ARE RESTRICTED TO 5-1.-SUBURBAN DISTRICT USE.AND AREN SUBJECT TO THE PROVISIONS OF RESOLUT IONR 6494 AND ANY FUTURE AMENDMENTS L:: . ^ ^' THERETO. ) .. " F1V a.6,3 5 t_. I NBB•0.•34,W 092.d9 N66.029e•'W ^ ^� / y1 30.96 33/.33 .0.37 A - EXAMINED AND APPROVED THIS 29hI DAY OF DUNE A.D.1942 . 4.-A 0., .bTA�% TOM SMITH ?/ ._1 e, \ 9. -_ I^,l '- q O•R,ie —P%` G-W6/Y2YBSNDD^G°UNTYMNYISWONEAs [a`Nd w,• W a I t se• ,.zs'� , _ELME BOARD 02C UNT---SS-ERS p,N y>--- 10 $ti I I °6 I N>6-T RFRN 60AAO Of CO UNTY MNY/SJ/ONLAe ^ .-' 2°9 —T1 0 13>•6 EXAMINED AND APPROVED THIS 26TH DAY OF JUNE A.D.1942• /\ /1 a N °°' .)o .3) p) A BY -- — ,7R.HEATH \o"r`I T)2)T�N14 • R4�A�', DEPUTYD>UNTY ROAD ER0121E. ORGDCOUNTY ROAD ENOINEEA• I 'O a•I e e N.6 .4. 6.N°) I HEREBY CERTIFY THAT THE WITHIN PLAT OF J0SEPH P.MARSHALL TRACTS.IS HEREBY N� 9 DULY APPROVED BY THE KING COUNTY PLANNING COMMISSIONTHlS_?DAY OF JULY A.D.1942 + °3 w OTWAY PARDEE CLINTON S.HARLEY fACN I." SCLA£)AAY CHAIRMAN- -_ / h DON S.JOHN SON V ; OLNNx/Nc Enc/rv£tRA.mCxFGUT/vEOY1cER E !''r3 N 9 8 7 3250442 'O FILED FOR RECORD AT THE REQUEST OF THE KING COUNTY PLANNING COMMISSION THIS U : 6_DAY OF_JULy_A.D.1942 AT 39 MINUTES PASTS A.M.AND RECORDED IN VOLUME 38-_ OF PLATS,PAGE_'y.O,RECORDS OF KING COUNTY,WASHINGTON. ROBERT A.MORR I S NIuT<SN>rSDIYAS CAPF �COR SEC.) BDM_U Y-W __ADMP_— /,GOO NB0130.01-2 4/9.92 IGONC.NOW .. r.4 ._,. ' I HEREBY CERTIFY THAT THE PLAT Of JOSEPH P.MARSHALL-TRACTS IS BASED UPON AN , ACTUAL SURVEY AND SUBDIVISION OF SECTION 3.TWP.23N.R.SE.,W.M:THAT THE DISTANCES COURSES AND ANGLES ARE SHOWN THERE ON CORRECTLY:THAT THE MONUMENTS HAVE BEEN SET AND LOT AND BLOCK CORNERS STAKED CORREGTLY ONTHE GROUND,THAT LHAVE FULLY COMPLIED WITH THE PROVISIONS OF THE STATUTES AND OFTiE REGULATIONS GOVERNING PLATTING. WALTERW.WEEDIN Y'6ISTERm PROPCSSIONAL ENG/NEER4 lONO SURVEYOR P W W,p CERTrf/CATE NE IO2 ACNEYAL E.Ili-/94i r 9. APRIG 6-1922 � f This map/plat is being furnished as an aid in locating the herein described Land in relation to adjoining streets,natural boundaries and other land,and is not a survey of the land depicted.Except to the extent a policy of title insurance is expressly modified by endorsement,if any,the Company does not insure dimensions,distances,location of easements, acreage or other matters shown thereon, . . -.. . ..,-.--c-,1,:.... ....,,Tirk7....'.:;.-0..;.3.",-"-"c•••••,..;,;:',.,•.,-:-.-,!,.....,-.......-.,...-.,,..•;.-.:,:.--;-•,..,!:-,,,,.,:-.„,:,.:',,.•...-.-:-,,::;41.1.7.,:"..'-'-`'''..-rz':-.;. 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Weaning-rm. . ,, , ,_ _ . . ,, . - ,- •,,,t4e. first' -party, -a iri considdert s ‘on:nf- ,:.,..,,,,t.,2,c,1,- '775'''''l''''''':;•;-'''-u -'.•-::';':''''. - -,r'qUineceillrtil 5f),W..;bight:,:ia.40kneWledgd;7and,-the,bonefita iabieh-will,-accrue to e• -‘-• -' ''.'-'''•--.''''. ,;:•:-.."'", ''...".' land of•-•Grint.or7.by"the eterci,s.e •of the righte•berein.'granted, do.-harehdY„. • -..... . ,...:z.,...• -„;..7.; ': •' - ., • -' ; remise,-release.end forever-gr.ant unto the'Grantee,'its 8ucoeasora.an ,-;c* . •,,..'. •'' .'. assigns. an,,eassinent and- right-of-way for the.purpodes hereinafter statedt • '.-•:'4- .---.: -- -• ;%; •i • to iincludeith area within the L.benks of the -conatructed channel-and a ai,ip- ,.. • . ' ' ' of land•30-ft. in width that is 15 ft.,on either,si-oe of center line of •Honey Greek,-on-the following described property • , ..... .... . . •• -. >,.. ' . „ • . . , . , 'A portion of 2raet 8, Marshall, Jos. P. Tracts as recorded in Vol. 33, • .-"-, . .....„ - • `,.`,41 - Page 30, Plat records of icing County, Washington - .,:N rn Sec. 3, Pup. 23 le..-ft. 5't.w.m. - -• • . . . • .,— - -..,- . .. , . . .•.. • - ....... '''. '.:- '. , ,,,.. •-, i -: ----. . : . - . -. , ,. .. . - "' - -.---,, , • --4 • - . .... • . . ... _ . . . . , .:- •1 . -. • •. . . ., .. . . ...• , . .. , , .. . .... • , . . :.- Said easement and right-of-way are for the following purposes: .:' , . .. The right to-enter upon the above described lend to constrtict, reconstruct. •,' - .,.: .:, naintain anti repairs.drainage.ohannel and/or-other flood-control works, •'..::" 3 . . ' . ,',. including all appurtenances thereto, together with right to trim,. cat, fell • ' '' ' -- •.' t",-.•• end-remove all sucb treita, brnah-and other natural growth and obstructions , . - ,' as are necessary-to.provide adequate Clearance and to eliminate interfer- • ‘•' .ence..with, or hazards to the structureS. , . . , . , '.`' ' . _ ti the considera .on above mentioned, is accepted-as full,compenaation to. 1 . ' ' '' 'the•azeroise of-the rights above granted. . •' . , - . ,.. • - • . , ' • ''''' '- -.'.;, ',To have-.end' hold, te all and singular, the,said easement and right..of- •• - , . - • o'l..-. f• .. ' ,.... ."..' Way', together with-appurtenances,,unto Grantee„its auceessors and assigns. ,_ • • - " ' • ., :• IN iiITNESS.IMP3OF the Grantor hereunto hereunto set ,rg,,,,i-hand,_the-day. . . . I --:-. •,.••,', i, rid year above written. - '.. , •• . -. .„ -. , . , . 0-24-,iy-o-g-,11 7J- !----'-- -'s---. - ei••:,' ' - . . , . . 4.. •';-"',''•:',2:' :' •....1 1_. .,-,• ,-- ..,. ,. . . ._ - " Or tor': • • . • Grantor 1-.1')'• :-' '' '"' • ,' ' STATE'OF VASHINGT0108-8"• • - - . - • „, - . . ,•• , ...- - ---,- •- ' .' ••-,- - -"5. , GOT:MTV GP Rua • ) -., "1* " "' •:' • " --'' - ' , - --- '' " "-61•this day aPpliared before me•-'icirse // Ca//)-.0‹. ," .,:-.,...,',2 t.-.-.'. • - . '''..'-'+---'..-'.•::!: ; .,--, - .. 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'''''' : ..‘ • -RIVT' a . SS";'''- lChapterf A'53-'••_.•,.; :'11-4,1--1.t4,Tit).!It 'liftlie:iitatI3 of...We'Shingtonz,-49,..der the *PP 'I•b?'...,Q ,'... „, ., ,,-,,,''' ,.*, f•••'..• ..ti -.-;"-,:,:it;;....,:•..,,. .:!....'.'''..-.:.i.:i'. '..t:;.:.-Gessior-.9...t.0.."--Iiiii.z?„,f,g.961,..0.-.0...the.-8p.te off Washington.. ,.. :_-.... •,...,,,,,.• ;.r..,.,, ., .,..... ...,,,•......... .....4 ' -.........'•.i,,,...."*.e.-•-•:-..' ,...(7)....;i no.i. Ili-.,. 01, 1. party13t.- ,_in consideration.o..... ... < , . 'of.whioll is-W01019--e-ga , ••• ' ' '1:-. granted ..do-hereby' : '' , . '.--•--. :• ...-7..;:::-', ..T.-....4,'":.-..:-'.r. •' P, 1.17..;4rapstsg_,„tb t.f.'r ,,,, to.the ... ... ._ , of-the rights.tere n.Era ,, . ....,d_ d d end the benefics'Itb on la 11 acorns • 4.5414-CfnranP2X7-1)Y the exercise the the Grantees its•succes!ors an _d• .. - '...-..,'''-"•;;'••'.',.'' '' .1-- . ..remise,.release and forevert grant 4.., r the purposes hereinafter stated . .. ••••.. ...„. • - assigns, an easementan .l'tge.banks,of.the sonatracted ohannel,an4 a P i..--. .` ,; • -to.include an.areg•within. that'ia 1,5 ft. on either side of'oenter line of „,. •*.,r'...4.." ' • ek-34.1nd 30 ft.•in.width . .- ., . . Roney Creek, on the following desoribed property .. ,.. . . . ,...,''' - ' • • . • „ •- - ' • • . . . ,••...... . . . Aportion of Tract 9, Harahan, Sos• P. ., . " Tracts, as recorded-in Vol. 38, . • • Page.30„Plat records of King County, Washington : .....„. .,.. .0 .... In-Sen..3; vip-, 23 rbal, 5 .w.24, • • - • - • -.....-.. .• , ,. -. , , '. . .. . . ,. .., • . . . . . . . . . .. . . .. . .. , • .:\.5 • -•• , . ., . . . • . . . , : - i ••4,\ • . — • • • . „ •• • .• .. . . • • • • . . . .. • . . .. .. . • .. • .-- • - -.:Y I' '- -. • '• •right-of-way are for the following purpose's: . . -•.. tract . . e described lend to conetruct, recons ,. •maintein an repo r a with right to trim, cut, fell ... - .. - The right to Said easement and d entef npe2r:Igagiewerhannel and/or-other flood control works,..... . .. ._ • including all appurtenencea thereto, ogTa'tLiral -, growth and obstructions - ' .... .....? .''...- .---. ''.-..'• "'A Cod remove all such trees brush and Other - - s are necessary to provide adequate clearance and to eliminate intent'er- • -,„,,, .e ' . ,. . •.;.- 'AN - ence.with,.or hazards to the structures. - - '- • • '-'to ' 7 •, " d is accepted as full compensation . .„ .. Th-d-consideration above-miintione , . tt% exercise• of the rights above granted. . .. ,. . . ., '...".' • '''• •'' '. .f.',r; ,. . • . . . . • and right-of- d singular, the said easement- . i. ...... . ••:•-. I' " - ..'0-... : • To have-end to hold all ao . . I. . togetherwith appurtenaneeS, '.''' • ' ' ' , .... ..• way.? i . •.= 'hereunto set 7'"Ze./A-hand, the day i . IN WITNESS WHEREOF the Grantor_z .%.".1•• • ' ' •ii 'and year above Written. • ',, ...A.:. • . . '1. --• ' . • • - 1 . . . ... .. • ' -••• . . . . • • . . .. . . unto Oraritee, .its auoeyssors and„ass gns,.. ...... . - . . i. . - iviorti-E../A ta--_i; 13 --e1-*'-''''-' •'',,•.: •:•. •' s; eater . _ . . ., . . . • .. ,. ....,. •..• :.--- . ' _ .... ,., . 4 ••. ,, •- • ran or . . ,... .. . . 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'•_ ,:iii''‘,.k 1.,.„.;:04*?4,,g,i0:14.Wit:;.2P'-eiak:„.. ...;0>tli>i-,k41,--.'..,..$-`'..:"4,1V 7- : , t ,t=,i.',-,--i,3:4.'.;::0,,-.;1,,f,,,Y1Pc,,,, ,,,,744.34,-.-4 . i...., 4i$7.,...- ,.., ;;"-Ag/A'-',Fr---"....---,.... ....t.”:.,.2.-.,,,,.'Tt.r..-.,y..,: ;•fz-4--..,,,-1.,11r,,..." t..,-0..,„42: g...,,,...-64....... _...,,,.7,__..4 ,4•r,-..,. .,...„...fr-,...,,,,....,14‹,..3,,,,,,4....-i.,,, ,,i..•„••••.L.,,,,.,•,..:,,,,,..,.-FIns.....,,p,-;;V......7,4,-"-P.:;•s-,2•is?,, , ,..-4,,,,we..Se...ef....-,L0,••„.4.,24.1i,,,rzt,1"---,..i...:,f.',...:1-,-,,,,,, 4„V-4.:. . '''Itt•':C77'1"r`h.•%1:`44%44••*12'20't•-•:iffi'll*C-il••-••'It''.•&4,*00,4•••ti$4•*11,4•'•' ettf.,-47;. 0,:rap4k-g,•;..,:ig,1?.,•./•:A•‘•1,1.V•1•-,-,V^,•gil,l •. '''''"', ., 7r:',..P•••ta,.qF4Zi:•4.1`.1.:!'r..• •• • •47-'•••••.•,•1'.'''1.:1•:- '••`*•.7•-''••••''-••'•'••••'''.4:f''•••'.'''':",- , ••::••-• -,. • : , r • ,- . , .. . - .i • DECLARATION OF RESTRICTIVE COVENANTS'.... :,.. 11 i - .WHEREAS, Russell Collins and his wife Iva M. Collins, • Roy R.-Kyle and his wife Alice L...Kyle, and Kohl Excavating, Inc., f;. a a Washington corporation, are the owners,of.the following real �, • ::,5 property in the City of Renton, County of King, State of ." +; t� • ': (T` Washington; and C. E. Loveless and his we Joan E. Loveless k Q have contracted to purchase the following real property in the • 7; • - City. of Renton, County of King, State of Washington, described . : 1 as follows: <? E Lots 8 and 9. of -the Joseph P.; Marshall Tracts, r,, +.i as per plats recorded in volume 38 of Plats, - x ' • • • F Y' page 30; Records of King.County, Washington;'- except those portions- dedicated for road , ' purposes; 4 : WHEREAS, the owners and •. purchasers of said described . .,, `' ^ �' property, hereinafter "the property," desire to impose the follow- ing restrictive covenants running with. the land as to use, present r k, and future, of the property; NOW, THEREFORE, the aforesaid owners and purchasers hereby r` establish, grant and impose restrictions and covenants running 4 1 ' with the land as to the use of the land hereinabove described With k . , F< respect. to the use by the undersigned, their successors, .heirs , i and assigns, as follows'... (i • .. PERMITTED USES Y Permitted uses of the property shall be limited to the i. , .. r .• . - uses allowed as follows: the south kr.,`..feet of the, J. • property shall be limited to multi-famlily uses allowed r . in the R-2 Residence District of Section'4-700, P' ' Title IV, Ordinance No. 1628, Code of General J ' 1f 4 t f P. • . .. . . . i Ordinances, City of Renton, King County, Washington. The remaining northern portion of the property shall i, be limited to uses allowed in the B-1 Business District, Section 4-711, Title IV, Ordinance No. F t 1628, Code Of General Ordinances, City of Renton, i. King County, Washington. E ' DEVELOPMENT i., ti0 , Nr Development of the property shall be limited to a 's 0 ' shopping center on the northern B-1 portion of the , CDproperty containing the permitted uses of the B-1 •'' Business District, and to multi-family residential development on the remaining south 130 feet of the property containing the multi-family uses of. the R-2 {, { Residence District, all of which development shall _- P conform to the site plans, Exhibit No. 6, attached, ., , . ,, dated April 21, 1977 or such modifications thereto or other site plans which the $ublic Works and Planning Departments, City of Renton, shall have approved intI ,/ writing. $., LANDSCAPED AREAS Landscape plans shall be prepared in conformance with f . the aforementioned Exhibit No. 6, dated April 21, 1977, 1 '. G..' and applicable ordinances of the City of Renton or such modifications to Exhibit No. 6 or other site plans y which the Planning Department, City of Renton, shall ' " have approved in writing, and the landscape plans shall include: ,' . ., ' 1 1. Landscaping of the right-of-way of all streets . i ir r 1 adjacent to the property that lie between the 'boundary • F c -2- a Q f t 1 I lines of the property and sidewalk and/or paving e 5 improvements in the right-of-way; and this landscaping { shall be of the same general design, quality and 1 1 quantity as that of the landscaping contained within the development within the property. • F s 2. As many of the existing trees shall be retained is 3 3 as possible. 1 il > 1 3. Intensive landscaping shall be installed along .G i `� Nr and within the north 25 feet of the south 130 feet of eD ON the property which in the judgment of the Planning c Department, City of Renton, reasonably exercised, shall ' E Ne- ffi N- constitute an effective, visual barrier of at least g s F� t six feet in height. , 4. An architectural-type fence of six-foot height • . I shall be constructed on the ..: property line separating , '� the B-Land R-2 portions of the property. ,, ° " s 5. All landscaping and fencing are to be installed it within 90 days after construction of the shopping center r"- ;r k; buildings in the B-1 portion of the property. 6.. Parking lot areas shall be landscaped according to Section 4-2204.8.8(3), Title IV, Ordinance No. 1628, Code of General Ordinances, City of Renton, King County, Washington. STORM DRAINAGE Storm drainage plans shall be approved by the Public ! ' • . Works Department, City of Renton, according to require- :ments .of applicable ordinances and policies of the City of Renton; and clearing and grading of the property shall not occur until full and complete approval P is ; • {, ti -3- t ( • t • • 1 granted or issued by said Public Works Department; , '1 ' EXCEPT that existing fill material previously deposited 'i 1 on the propertymaybe removed. }" x m ed, ? INSTALLATION OP OFF-SITE IMPROVEMENTS . Along the west boundary of the property shall be con- °t j . `, structed roadway paving of sufficient width that when i added to. the existing roadway surface will constitue a ti,•: rt total roadwaysurface. .The roadwaycomply • • 1 . .a paving will tom 1 • A F -:i i 1 CD ' with applicable.CD , established public street standards per requirements of the Public Works Department, City of ? Paga s 4 CD -C "Renton. The ewnere shall, be responsible for the ad- G i� . ditional paving which averages approximately ` ^",�f g ten feet q (10') in width but shall.not be responsible for re- • surfacin tho existing " ' ' g Paving nor for maintenance of the • . `-„ roadway or the-new paving. The south twenty feet of the south 130 feet and then {` west ten feet of the property shall be dedicated to the ;i y City of Renton for the .purpose of public access., Along the south boundary `f • of the south 130 feet and west 10 i t i' . e feet of the property shall be constructed a roadway E . meeting.Applicable, established public street standards • `£ of the Public Works Department, City of Renton, and "such i . . . ; roadway shall connect Duvall Avenue Northeast to the f• roadway created along the western boundary of the property. ep/ The.awe shall be responsible for one-half of the i v initial roadway paving necessary for the construction of k; g 1 the proposed roadway but shall not be responsible for ` j maintelance of that paving or the roadway. f + • -4- E s t i • t }y - *:• I d , .•_ . P, f 3 f • . Both of the above described roadway improvements shall. i .4. . be dedicated to the City of Renton, free and clear of all encumbrances. CONSTRUCTION HOURS Hours for construction activity outside of buildings • shall be limited to the • i period between 7,30 a.m. and 6:30 p.m. on the weekdays of Monday through' Saturday. t. , . _ l SIGNING u, . gyp• Signs shall be approved by the Sign Design Review O Committee, City of Renton. E' Q CONDITIONS i I"- This Declaration of Restrictive Covenants is intended y , . to impose restrictions on the property in connection F • I with' its,development and use as a shopping center and _ . {: multi-family 'residential development. It is not • intended and may not be desirable to impose such y restrictions on the property if it is not so developed t,. and used. Therefore, if the proposed development and sf f • y . improvement of the ro .property in the manner contemplated 1 and proposed herein is abandoned and does .not occur, the [ . restrictions contained herein shall have no force or • effect. t ri` • DURATION •• . C . These covenants shall run with the land and expire .on fi • ]f December 31, 1990, provided all of these Covenants are 1 fulfilled and completed in accordance herewith. . Any r. C violation or breach of these restrictive .covenants may , 3 be enforced'by proper legal procedures in the Superior Court of King County by either the City of Renton or any 1 s other property owners adjoining described property who , ! are adversely affected by said breach. Reasonable , • 11 i . -5- k . . � Q • • • • • tt • , attorneys fees incurred during an enforcement I:" f proceeding will be borne by the party or parties whom the court determines is in error and shall be 1, • E entered as a judgment in'such action. 'j v i DATED this �@ day of• , 1977. ',, I t . • € kussell Co ns %' • ,,j()-7../^7Z---' :2-2-7 -'6-e-4..,..,....• . cr` Iva M. Collins • N s ,v� { , Roy R. Kyl , i i . : . . • -_,-2/. ..c.,__.e.):,7(x---:. ,.i • Alice L. Kyle', form y ice L.. Taylor • i; • 6h iExcava Excavating, Inc. • K • • • ' v i • /�rri1'C Fi , ti_ ' o Excavat"ng, Inc. 1 /[ . .. ( C. E. Loveleess( lt. • • ' _.. ' S .41.1,-4---7. ' Joa E:Loveless } • F: • t i• i . :, ... • :.'. i 1l11'; , • • • ' -6- • • �.,. V_ w. . • 3 i • S . • , • • STATE OF WASHINGTON, •n - County of King ss. •i 1 On this 3rd day of August ,19�y before me,the undersigned, J a Notary Public in and for the State of Washington,duly commissioned and swore,personally appeared ' t: 1• Delores T. Kohl and Ivan C..Christianson 1 to me own to be the President and Secretary,respectively,of 'KOHL'EXCAVATING, I l INC. ri the corporation that executed the foregoing instrument, and acknowledged the said instrument to be the free and�toluntary,' act and deed of said corporation, for the uses and purposef therein mentioned,and.on . s„ ed th ;,:' . authorized to execute the said instrument and that the seal.affixed (if any is U cor r. e 51 o sal. corporation. Witness my hand and official seal hereto affixed the daya r t ahoy, tv ;,• "''" • i _ ltfotar_.tidied: .,� r lbe^ t 'r folr U f rtv • • +r W r•ORM 2e2.ACRNONLCDSMCNT,CDRPORATICN /rerlldvig at ' 'enton .-e. • c — STATE OF WASHINGTON v KING ss. rq .' . x o �tnty of.«._-._--. � • • 'R, SSELL COLLIidS' -IVA..21': COLL L ,' . ' i , On this day personally appeared before me...—___...,_..,...,—..r.. .%•--....-•;-......'..:...., RAW R. Y.XLE,ALICE•L KYLE...-».... ...._-»•._-.-_._ _ .»..«. b' ; _ : !; als 'to me known to be the individu »...described in and who executed'the within:and foregoing instrument and ' ji • acknowledged to me that_-.---__signed the same as._thei,r ••free and voluntary. e•a d deed for the ,i •' R purposes therein Mentioned. • { y Given •snider my hand and Wail.seat WI --troy o ,_ 1 77 C r C i . • • 4 C3RLlTQr� 'Notaex Pabc in and far the Slate of IVashinton,residingat. �W •—''t~-` t!(.` .- 'LAWTpis Trn.0 iN,iRANC[CORr,ACNNOWLRe5 vI.cRD,NARI •ya4d2 • STATE OF WASHINGTON, )( • . , County of.._.AfamS\ J03 • jjII pp On•this day personally appeared before me. ` I '` . ..................»»» CsxS:cw�ra 1.« tlsn �Yftz45i ^i /5... 7 to me known to he the individual-. dbedMin.and.who ^_ � » _.._.. 4 executed the witbfa and.foregoing ids! rument and ' acknowledged to me ffiat»... signe• d the same as». ».. putposea thentio mentioned'�— f and voluntary act and deed for the Il Q • oven under my band and o• ,`j' „ � , a �tl girial thlt— �S day o/. L\1L a '`'y fq�#'. i;',, Cir i is a { • .. Q.... -: : i!19y9 • Notary Public in and for The Slate of Washington,reading dt;„,,,,,, V, '. '�`l• •`�.� LAWluts YITLCINWRANCR CORD:ACRNOWLIDONdT-bROINART „""""`�rr"st:'37,'rvy,:l, p;'•{.- 1-. • Qjl' ti i• t I o: h 1 t r. A f 1 ,•r . .� r ; ; .. • 1 • - - . . ri i ;! ______ OL•O•k a=ta.cc u.:,+_ -Id P..-:.e•-vtai�,�aa ro ar•� .. • 1 - - - .. —r.•�.`f � I 1_.sL _ `iti M _�f�i��' .l'�1 I 7 {:,' G '.. \:.."231....9......-- i Y 4lJld - 1WIC4• •1.'� du• r91 .-ra:d,r,- .1 L4xr. •1• # 1;,�: • . • ),�, up re" Y a*u.< uu 5 0 uago uu+ Y.•I • i! • i 0 a•i t:, r tm1 d — i:;, f. 4 : 1 }` S I tE - 4}� )if+� - • .It i j1tY Y i - 4 7B,1 IJ TT� B i FLDD Get:E.; —.ghL_ glee '1s.Z_4^72L ,0' a 31� , �tt� ' 7 W •�7 49.SI..Sf L;J84�G 04.a e9-a(. "{,. I. , N 1�(. t ch .: 13..: Tara' •1� ib5•• :i N o na.d . . .c I .. _ . i'ii• 11b_ _�,_ �.+-f�. _tom--1-�=. .�4.- .y . 1 J. • •'�' 4. ::. (' t^ (sa ® .aii •� n 1 [ Q! !' I 1 p •Se . — —_ e,u- } L. . .. [ ,' .L1 1.1, I ', - •-i't'" --- SITS PLb.0 y /// LhITB S'1JaT ISjJGh ,g 1 .we r.••.' a A.•-5 -.IA u.1:5ro CL-N- , aw 1k. -142-111.4.4 • is '6Y/lhaO d�TF2__•_ a tee es^yc5a• ` �'�� '�_�� t:,lu.i r:. i ill deal. C Vane • . 4 LEGnt_ DEbCJ.t?TIOJ' .` orb•a . 1::''' • Ill ifi r' S J *sae ...NV..� _ Y__n.r' ......:Ore r.'wr....e'+.._•.ee uurdj i a •tee' 1 =. s�' ; (PRELIMINARY) EXHIBIT 6 k e,fie, . t i • ,, . t a. • . [• — • ___ -.-,�r.' .;�-„+:y "vmn•^ ;S-.a+c^....a:`x,�,4`- --. -•—•—.rsw.......,r,_ •17-...'_--xc--- - • . • • AUG-19-77 , o o 3 0 3 770319O s & LSI A`-RE 9.00 . '• , • • • • • • Auc 19 2 s,;I • RECORDED fcc;;;:3::, • • it . .._..,....__... :::..;.,.• ,,-...,::. • • • , . ��, ": • av � _, c z ca 1 Z • • t• .:, . , , .. ;I .. . • 1 •• d V { `$ r F `J - pp'�iti,`R'�itriA aa tate fir, uv " ��s J..,? :r Qr44 r,,-y 1' • DECLARATION OF EASEMENTS SV� � 441 a 53 1. Purpose. There is being developed on the • • :-�{,, (� following described three parcels of real estate (herein- !' :-J C3 • 4 • after sometimes collectively referred to as "the property") w r '�! N a shopping center which will constitute one economic b ! I -� property unit. In order to assure that the property can • ,I continue to be utilized as a single economic property unit, ' I • rly_� the owners and others having an interest therein have ^'\^)ll agreed to impose reciprocal easements across each of the three parcels in favor of the other two parcels and for .- '' l that purpose this Declaration of Easements 'is being i established and executed. p 2. Parties and Consideration. C. E. Loveless and c , 4 • Joan E. 'Loveless,. husband and wife, hold legal title to the E` i • property. Russell Collins and Iva M. Collins, husband and • t1 wife, Alice L. (Taylor) Kyle and Kohl Excavating, Inc., a . Washington corporation, are beneficiaries of a Deed of 1 Trust securing purchase money notes made.and executed by • the Lovelesses in favor of the beneficiaries. The consider- 3' ation for the grant and declaration and agreement and assent 1. thereto is the purchase by Loveless of the property from S. ' Collins, Kyle and Kohl and the loan transaction between Loveless and Wells Fargo Realty Advisors, Inc. .. j I i 3. -Property. The following are individual legal k descriptions of the property on which the reciprocal k i 1 i ' i t soil It16 MI'7r • RECORDED KC RECORDS ' i • • • :•i • ' f S. , easements are herein being imposed and:which are benefiting G " therefrom: 9 i z . i' Parcel 1: (Collins) Tract 8, Joseph P. 1 Marshall Tracts, according to plat recorded . in Volume 38 of Plats, page 30, in Kin •g County, Washington; EXCEPT those portions E , , thereof condemned for road under King County 1. . .- Superior Court Cause Nos. 701162 and 741907. # Parcel 2:. -(Kohl) All that portion of Tract CD -9'f eph P. Marshall Tracts, according to plat recorded in Volume 38 of Plats, page 30, i in King County,"Washington, described as f 2 follows: Beginning at a point on the west line. f''► of said Tract 9 and the South right of way line of SR900 as described in Decree of Appropriation i entered in King County Superior Case No. 742207, entitled State of Washington vs. James A. Taylor, et al; thence South 240 feet along the west line of said Tract; thence Northeasterly i. ' 240 feet from and parallel to the South line G of said SR300 to the East line of Tract 9;. thence North along said East line to the South .+ right of way line of said SR900; thence South- ;.i westerly along said right of way line to the it ' point of beginning. Parcel 3: (Kyle) Tract 9 of Joseph P. =, 1 Marshall Tracts, according to plat recorded : ' • in Volume 38 of Plats, page 30, in King "" 4 County, Washington; EXCEPT that portion thereof ti lying northerly of a line described as follows: Beginning at a point on the west line of said Tract 9 which is 240 feet south of the southerly margin of SR900 as condemned in King County Superior Court Cause No. 742207; thence north- easterly, parallel with said southerly margin, to a point on the east line of said Tract 9 - • t which is 240 feet south of said southerly ` 1- margin and the terminus of said line. ' ,, Deataration. C. E. Loveless and Joan B. Loveless `I4. hereby grant and impose on the property and each of the three ' 1 i'ii 3 ii parcels, and the other parties referred to herein agree and 5. t {ii assent to such grant and imposition, easements over and V across those areas designated in diagonal cross- _. hatching on the layout of the property,-'marked Exhibit r A and attached hereto and hereby incorporated herein, for y ? purposes of installing and maintaining utility lines and for i I 1 i • -2- j , • 1' ff 1 y^. parking, vehicular and pedestrian traffic, ingress and egress between and across each of the three parcels of estate.real .a 53 5. Covenant. In the event the Deed of Trust held _ by Collins, Kohl Excavating, Inc. and Kyle is foreclosed, L N C) maintenance and use of the easements granted herein will f be conditioned upon payment to the owner of.the property on which the easements are imposed the sum of $100.00 per I year in advance. DATED this 19ttday of September, 1977. C. E. LOVELESS 14 J'O LOVELESS ri RUSSELL COLLINS. IVA M. COLLINS _ i• ALICE . (TAYLOR) YLE l KOHL EXCAVATING, INC. BY �v1/.o-ceo✓. / Y Bt-/Zt.e.) d•2 .74 10_ STATE OF WASHINGTON ) } COUNTY OF KING ) ss. On this day personally appeared before me C. E. LOVELESS ' s and JOAN E. LOVELESS, to me known to be the individuals described • 1 t ' I r -3_ • - : , . ... .„ . . . . . . . .. . , . ,, , . . • . 3 . . . . , . ':: • . , . ,.": • - • • . . ' • . r, . . . , . . . . „ . . . . • . . • ' . . . .. • ...•. . . •.. • • • - • .• -., .. . „ . , . --.,,..• -._ . '' ,` •-.• . . - - • i: •— •.: , , --' , ,, 1; . . • f . •. J • ,1 . . ' . . . . • .. . ;, • , , . ?; . . in and who executed the within and foregoing instrument, and . P ' R acknowledged to me that they signed the same as their free ,... ,cf •A • and voluntary act and deed for the uses and purposes mentioned • • therein . . . • ,,,.. . Given under my hand and official seal this 171a.r.ilg . •-' .. f: : , 'e September,' 1977. -- . i,•i . , ,. • • •••,-)11.1 • 1 ,:• -, o ' e • • ) i ' • ' , .., ......,,... e.:".'.. ...„...7,':› . F 0, --- ": • gni . 'NOTARY upzic-in-and-forAlWafAt0.-.,. 0 , .. 5 . ‘,.... ofp.ellington, residing at: :., :- ...,.• ..., ,. ' N - STATE OF WASHINGTON ) " . ;'•'- . . - "': ' 9.::: g COUNTY OE KING ) es. ) -. • , .; . • • 'i . r 4 t-i. . . , . . • c . • L 1 . . V On this day personally appeared before me RUSSELL COLLINS . . i; ' , • : and IVA M. COLLINS, to me known to he the individuals described j. . . A in and who executed the,within and foregoing instruments, and. , - f ' • , acknowledged to me that they signed the same as their free and ' . . ..' • o ..voluntary act and deed for the uses and purposes mentioned therein. . ''. so Given under my hand and official seal this /6,7).ay t:',:kt;';''' '4.1 '•. r' • , . - , A s' •-'.'',•. .. '• .;:. . • ki September, 1977. % . _.,s.'7,•.1,,:....,;" . ,.• ":•'!?r.....:' r' r .f " ' . . _,........- . . LI 1 . . --- .... .." ;-•'''' . . I I-- •..,' ' ti . " •. • r: • • t.' NOT‘;_31.MIC in and for'..thei5tati 1, e - ...--,.• ..-•r,.. 1 of Washangten, residing 4t .134`;‘,%•'-0:.:!0t:•,`••• '-.• 1. . i ,-• . •,..•'..:- •-"•;:: • -: ..' f • • • . STATE OF WASHINGTON ) _ _ . . .• .1 k ....' , • •) SS.' 'SI ' F COUNTY OF KING ) .-1. . ; -.,-; . • ' i . On this day personally appeared before me ALICE L. 3 . 0 (TAYLOR) KYLE, to me known to be the individual described in . i . ' • 0 and who executed the within and foregoing instrument, and .. . ! . . . 4 acknowledged to me that she signed the same as her free and . . voluntary act and deed for the uses and purposes mentioned , . . . . , therein. • • Given under my hand and official seal this of. . . . . . . . , . . ., September, 1977. , , ",„ .. ., . ri'. '• - ' , .. . - -''''•-;--77 '': -"%.111,•Ji.; ••• _ • '7;:l':.:.;•. a/ ._ ,., . . . . •'. .. ''''''' ,.. ;;;...›- •••••. ., (4,,•3,'•:, ,,,, • ,t • 'i .• --NOTARY_PUBLIC in anA:for. 44tp„... . I . . .. • of Washington, residing •. . . . . • . , • il STATE OF WASHINGTON ) . • t .; ) ss. • . .1 • . . . COUNTY OF KING L , . . . . 1 • 9 On this day personally_appeared before me ..ti.,,c_o_td-, • g -1 1-p-q0.., and :"1-„,...),..% (-(i -7.1.-14tf„;‘•=-..., , to me known to be the -' i--',;=44',...:-."' and-- A ,. .i`r.o. ,- , respectively, . • - , i . . r! • , 1 . . ! ., . . 1 - , .• ' 1- i. . i • . , 1 • . i , .. 1 . . i • -4- • : . . , .. . . ' .. . • . . - • , • ' • • . . • ; . . . • . . . . . . . , • .. -• . . . , . . . , . . .. .. . ' • . , . • . . • . •• .. •. . . . . . . .... .. • , .. . .. . . , .. , . , . , . . . . • . . , , , ., _...,... • • . .• , •, , . . •.:'. , :--,-, : .,. :-•-•;r: --,a•.•-;.,':. - i....•!,;;•,::•1;•..!p:t: •••••••-:.--:•6 i •-', . . ., --•:, : ... :-.- ''-` ••::•-. -••.• -'.• ":;-• ''':•:. :' - ''': -',. . : : :' , • -,:- • . ..! . : • . .• • - - . ...-• I " • .:1 . • ir .1 ! i, . 1 t t A i of Kohl. Excavating, Inc., the corporation that executed the :. 1 .4.7....: 1 within and foregoing instrument, and acknowledged that they ., were authorized to sign the same on behalf of the corporation:I as its free and voluntary act and deed for the uses and purposes •21 • ; mentioned therein. 1 v . 3: Given under my hand and official seal this if day .- ,01",..!4 September, 1977. '-• ( -..-:.$•‘ ` ......-.: , e7- - .,--e-,,,._-•. ' ci-.- \'rIckii nu "•."' 1 ..a NOTARY PUBLIC--in and fOr-ritt$,Stete , ,:' " ''• •' 0 of Washps. gn, residing 4. ••6.-.;:•:'.'-''..;,••••'',"/.....-; . . ' NI - . t z:-...•'..... - ..„, I,-. % • , I. •t . N I, i . I 4 I ! ! • i 1 ' • 7 • r.1 1 • , 1 i i. ., f i 'Y , r • . 0 ,, • 1 1 , - • . , 1 ' i . t 1 I 1 i .? . r • t 1 . i ,• -5-Iii ,... -, . * • . • Lo.........,.......11..........iirm..........00,0....m.mamsomimmo. ,. . . 7 • • • .• . • - ... • d J • 1 • .. .•.a._-...r...v.-.......r.r,.G.'.:_.4:......-..t...u,..rr..0 wv.,.. ............:_._..t.._.e.. _. r ..... . "s......N'N...\N*NNN.\° \''''''....Ns.N."-.---- --.. "'"r1"4 :, ;4 I ... 1 411'.. f W.q i t3 M% •;tdhlealtil s' iir 11 kr, - 1 t 1 it' y j '• 1 �>S poor:, GEV-,TER Drzu4 ,-,TOME . I-FARDwaxe esron.e '� i. • a 6- 49,1IL .,a.� 2e,58+t•54.PT - 3..obo m.rr �` _ 3 ,. �y p � . 2 a u . kr '41 kii 1 ty , 1 ',. gi i II IIii144-4446 -4N Q 1 i . h ;s" idl .4 .1 "'is,, 1 AN.,,,, Fijiiallk :,� .;.' N., I, ( I, . , , • Ai . 4 ; 114111S4IN I -4411111111kIN ..41, 40S110111111%111111%1 0 0 ......N‘.0- N ::' 1 i:"11' Ns ili I 14.11 it% 1001. 4, 1140 "N 40 I i 'N., ' 4/P "W. j 1 , / %41%1 '`.. 0#''#4 '-' I %, 1 • ,{. n.st'iSki_gn., itig kik . i 1.' I .;:i oil a-ma — a 1 \ 7111hr 410. .„....7/---- 1 ( 6UILO71-IGj 'OILG� FAO O n.4 1 W TO rio(sj luryCluFi J, µ...T4414.1.M,n w+ao }i t 0°,c� j MA\11�M 14r plf k ir i „111,7410•, :e.,,k1, ' I LINO ket 4 4,411 ea.►{ t 1 I I I l' hbSkel . fr# • p EXHIBIT A i i r* 1% Declaration of Easements - Renton GE N. / EE ; a 4 0� dad ad b ��u.. ,I��1� exu,a� •a + j ao Ian ycp 401 .4.s' :IIIi'. I _ ��r��;� ifp�4 _ I�;�4t t111jI1L9 'I 10 LO IS?- , 1 _• CENTRAL HIGHLANDS PLAZA - t IZGLITou W6.. T„Y lA1'.l.IEO[,/L'4,4r.1 r1 I • i l • I • •r1 :i f _ `. _ - - mil':^;._ tt 16. ' r1 i , • FIRST AMENDMENT TO DECLARATION OF EASEMENTS !1 //3a 7oa. ` ,$ THIS FIRST AMENDMENT TO DECLARATION OF EASEMENTS is made 4/ as of March 26, 1981, by and between C. E. LOVELESS and (/' ` ll ( JOAN E. LOVELESS, husband and wife (hereinafter called "OWNERS"); M 1 RUSSELL COLLINS and IVA M. COLLINS, husband and wife, ALICE L. 1` 1 KYLE, and KOHL EXCAVATING, INC., a Washington corporation, as O Iti 8 Beneficiaries under a Deed of Trust recorded November 1, 1977 MI under King County Recording No, 7711010199, BANKERS LIFE COMPANY, ) J O an Iowa corporation, as Beneficiary under a Deed of Trust re- j; a] • "''s,•• corded December 12, 1978 under King County Recording No. i :i 11' •' 7812120259, UNITED BENEFIT LIFE INSURANCE COMPANY, as Mortgagee under a Mortgage recorded December 21, 1978 under King County -fic11 Recording No. 7812210877 (hereinafter collectively referred to j ' as "MORTGAGEES"); PAY 'N SAVE CORPORATION, a Washington corporation, "',, as Lessee under a certain Lease with the OWNERS recorded September t ` !"',E.\ 23, 1977, and December 18, 1978, under King County Recording Nos. € h 7709230828 and 7812180176, ALBERTSON'S, INC., a Delaware corpora- p [ ti.-� tiori as Lessee under a certain Lease with the OWNERS recorded a r' + ,:iR„: :3- December 21 1978 under Kin CountyNo. 7812210873 and ; f U' g Recording 1 as Sublessee under a certain Sublease recorded December 21, 1978 it -."1. ,11k ti'(:1; $ under King County Recording No. 7812210876, and SUTHERLAND w,„� ' .1i ?' ail $ ASSOCIATES, a Connecticut limited partnership, as Sublessor under h `p, • &- that certain Sublease recorded December 21, 1978 under King Lri I.. County Recording No. '7812210876 (hereinafter collectively referred tik' s to as "LESSEES"). � A. OWNERS and those MORTGAGEES under the Deed of Trust �� ►%��(. y„ recorded August 19, 1977 under King County Recording No. 7711010199, b. ,`dn%.�Y� entered into that certain Declaration of Easements (hereinafter i 1 ,•'\• :.' `.': r i7. R',, 1'" '+ a referred to as "Declaration") , dated September 19, 1977, concerning >vl certain real property (hereinafter ,referred to as "the Shopping d )sip `t , Center") situated in the County of King,' State of Washington, as p' ,y' a. �„k;9 more fully described in the Declaration, which said Declaration , - ' t, :I t,, was recorded on September 21, 1977 in the office of the Recording ' Offices of King County, Washington, under Recording No. 7709210680, € i f:;`.-, 7.• t�lC XPgal„desc g l,pn of which is annexed' hereto as Exhibit "A" ' + i) •,' 1�/o C.,C.':�� t!-�n .'�:it ..... �i1;GD ..:i .. 01/04/29 1fOS07 D r:E Al,. ;I•.1 C:.,._..;' E i:iaon RECD F 1 00 7� L+ C; I s(y Page 1 of 5 CR5H5L ***17.00 1` -7,7- 1" 1' Wg'tp YQct db .76747474q' +4.'241 ;- 4k :i 4fir'n 4Sh^t"'. , . fi • . '.'''.;';' ;'',. .i.;' B. LESSEES and those MORTGAGEES not enumerated in Paragraph A above possess interests in the Shopping Center which interests i 1 s occurred subsequent to the recording of the Declaration. . . 1 , 1 C. OWNERS, MORTGAGEES AND LESSEES desire to amend the Declaration in the manner hereinafter set forth. -. rs. NOW, THEREFORE, OWNERS, MORTGAGEES il AND LESSEES hereby amend . . - : :. If) the Declaration as.follows: 1. That certain Exhibit "A" attached to said Declaration . T ....° co is hereby deleted, and substituted therefor, is the Exhibit :.:-. "B"pr attached hereto. ?. Except as herein expressly modified and amended, the terms, covenants, conditions, and provisions Of. said Declar- .1 ation are hereby confirmed and ratified and shall remain in , . full force and effect. - -- .. .-, ' : .•.. 1.'.:'.. b. i p. The terms and conditions hereof shall bind And inure , : • to the benefit of the heirs, successors and assigns of the • , / 1,IA.,' T, 1 parties heretoV. IN WITNESS WHEREOF, this First Amendment to Declaration of ., ,,,::.• .r.:j3k,124: IEasements is executed hereto as of the day and year first herein- above set forth. :.:'! :h I tr•kA i . A Witness: ,,::,'' 1 ...k, li •, i ---6_:!;f:Clac- e., ,, bt. C. E. LOVELESS ::-.: •1:• , 4'1,,t.tq, f 41 i t Jc: Ititn,OVELESPLA4L-LL--2 1' . 'ffCL:t-_.,:. .: . il.i: . .:. ‘,:::':::::::'1.:::;11:'!;.:'':!1:::!:•,-: :::::. . ;:1;.g.i,::;•Fi4:11 'lg,',, 4 . . : OWNERS •• :.`,: '.. ';;'': ':' ',•,,i'.: V Ir.: V RUSSELL COLLINS I ril 441":„, .,-1:i : ',*:''.':• ,Ne •iii i . . . IVA H; COLLINS ;• , , _ ,,., aec..1.-t)%. A-f,,.6../ •11 -.- -':.,:".. -,,,,ci, ,,:',:.- f:: •'• A,-* • •.- ALICE L. KYLE =,1...:. •••'1.."::)..,:;;; ;',.47`.‹.,1 KOHL EXCAVATING, INC., a i i "'S•'..::.':;:-, , - ' •, :.,‘4r,n1Plik, Washington Corporation t••2 k 0741 • : :% .'§vfl'emit.:4 •kkr,%, i By: .., ,.„,..„..:,. ,... 1 11 Attest -166-0/07,./ 72,1^,•,:42„...,...,-..... ) „ 1, ,,,.),, fri;±. I i • „ : ''t Page 2 of 5 ,, ; -• ::,„• ..i: i .--- :) .!!;- •1•.•: ,:i ..1 • .. F: • •- - •--..?.J -"-..-...,,,,,,,,,,,a• .:•-.'" ,41, 0 ; . ,-...•- • ____-__ ....- . ----.4-7, 7 • . . ' . "7,;.kf:. ,:: " : :. .':' .:,?:':::_:: „.,, • . • - • • jhe.., :::';':''''';'',':,`,"!:.''if;':!:`;;';''',.:P,-,..V.'' . • Ati/tfiiA‘,`-':.`-k:'`;n!';%; ';tra-:i•�lT.�• i•t_'' 'Jir,� •ia:} ;.A s. :a;:y a.'k•.^ t:1r - .. iC+.t ,:;��. ..?n;� •-r�. arc's's�� ..,T3ki��='%::•:. �¢?, . -y!^4:4 eJ• t..s.n_�, :,'•,• Jl.•ss. is ;'''' j' Witness: BANKERS LIFE COMPANY, an ^,. iiI , Iowa Corporation . ;• - %, • By; 7.:;;L"e7ili a.P.AUPPNCon,J^ret,ia: 1 _ard,o'mmerolal Malpa¢es i •• • g V - • t . AyttC Ct i .. ;� 9ry ... V.r.PfANCIs,Reg10 I Dr>>i for mme�rciai Mortgag�p �i, UNITED BENEFIT LIFE INSURANCE COMPANY 5. By: `.• 'e, 0 !i Attest: i741 • 7 "MORTGAGEES" co ,. . I t • ,�• ;. 1 PAY 'N SAVE CORPORATION, a Washington Corporation • . . . . . • " Attest: ,,1 i '-. 'fit / 't' 4 `.1 ' ALBERTSON'S, INC., a Delaware •: yy:,'?� 1. I Corporation ,(.1 BY; • C' 4 E j Attest; 1 �. 1 i'It•iTe''i ��+'({ SUTHERLAND ASSOCIATES, a p): ; Connecticut Limited Partnership t i � i: By r r,,:. y,' ?il I Attest: '` _.; , •� ii,ct,' 1 "LESSEES" ; y • C }t.. ., 41,1 ia; sj1 • %:, o : ;ft :t rY "'^'"3l 3i�� ; r ' ` Fr ':r Page 3 of 5 I `s kc, • • } r 1' 'I6 r y _ )a ..r `�`> £" • S f ..A. ' 1 t F ;1 i rts g �W� • c,^.nT�'i,,7:.H;w'1,S.5.r psi(�z r. Y � 't,rW{it�'x YCha'si 4t4w ilf x ., ar t a .. ,. ...-,...,.,•..,,....-r, uT. ,.,i .. r�;'r•9'ru�n`7P,.Mtu- '4ra,•r e d'' • (1`ti1 p ' "t Witness: BANKERS LIFE COMPANY, an Iowa Corporation• BY: s • ;) Attest: UNITED BENEFIT LIFE INSURANCE COMPANY Se o.1' viea Pry. p,+ / O~ Attest: f `. / �' MORTGA 'ES" II� N t F'a+T ', , p PAY 'N SAVE CORPORATION, a i. . _ ;;t F ,:'... . , r',f. t Washington Corporation • 1 Attest. ALBERTSON'S, INC., a Delaware ( i a i :! Corporation is ` ,\ By: '' 1i,ii. ),' Attest: tp 1 e SUTHERLAND:ASSOCIATES a ,i Connecticut Limited Partnership. =��i dr}9lFi BY: 3, ii 41. , Attest: f[. r k t°� i. 1. "LESSEES" Jo- l°� v i, t 5 4 1 1 � g ! t pv • fr . ..1gg 1-,1 � s I S� r,s3 I( ' rr'' 11 ire'' ' r 1 .AI a((�7- Page 3 of 5 r .n4` _f' . .. - yard- - � •I<.. LL. .:.:.... .-- n � ,..x. n.f,J. • Y n1t ?Y;" a N :� 1, t 1 ?r1 i�„ H .. iTy' . t r t,j} V yi ! i' V': f d t t, 1yL4'ti4 }.J F .1 `, fly.. .. z,�(e,;'{`y.fi i p' t t h,� 4,1tj SSM... :'�7,;^i�y.«,rf;!�ji5':i -� d at.nap r�1 1.. • '..7.13?:7:'! ?!."4.`1 .. -..,.. .., . '- ... • •• .."'•,.,„ 9 - , • ,i,,..rr'6,;,,,,k, - ., Witness: BANKERS LIFE COMPANY, an Iowa Corporation • : • , . . ..., • i \ - . . By: . , Afi : 1 Attest: • COMPANY !• YBENEFIT LIFE INSURANCE • : i • .. . • v Is--- . ; By: • • • -.! a% Attest: i ": . • , 0 "MORTGAGEES" i • •,,, PAY IN SAVE CORPORATION, a Washington Corporatio. .- .-7.,:' ..,'P•• .1'. X ..-‹... . ,.., k tl . " ti ,..... :. . Attes,. -0,ez . •I . .,/ • , : - . ., _ ....:.-.',....:::- 1 •"1... .;,-2,,,c ti ,.. ALBERT IN'S, INC., a Delaware Corporation ' ' ! • ‘.,',\,‘..i fit,I .,, i r• ,,::' '''.-- : .:-;.,:,.': f' )'• '•.-:.‘M. By: -::::',':'...'i--1',,.' •.,,,L.i..,,;,, Attest: r! I 1 i• ':::.',...'''i•„,', 1";, ''::.'": ' • • ,-. :..•,'.. .5, ;;:r;i: ,4.r,f SUTHERLAND ASSOCIATES, a ".:4;;', ,.:.•'' ,.ip.'.':' Connecticut Limited Partnership : -, ...,!:•::' By: :::;: •:;',:'1. ,,':1;:it v'i ; . -';':'',.•• ;: 0 i '•- Attest: "LESSEES" ..5?'•'. 1114'i IT o STATE OF WASHINGTON ) ; ' ..,, ,,,,I,..,;,';',:,:'.:: ' - • ',;;.;,.-,',;:,", P'.%!..,". l':4: ,'. • ) ss. "7-"Ta'11.71.ALi tle. , COUNTY OF X I N G )',4Y;';•,;1 Ft ri ti 4 iri.,. . ‘'‘::.!-',g;:',:• ;;;.:,, .; -• ,.....,,,,,-. 0 V?, ,,lq On this day personally appeared before me M. LAMONT ) ' ''• ll't44 BEAN and RAYMOND C. SS/ANSON, to me known to be the President ,',',,,-;:-.:1 1 ts- •->'''. i '. Y.:.,,•'-.'",:iP,. .'". ' and Secretary, respectively, of PAY'N SAVE CORPORATION. the I ., ;,,;;;;;i:!',:):•„:.!•,;:, '. ' '':.',...f.!%.,':.q 1%.411j. ',• .';?::..,;fce•-:..1.1 -,a,.',.yon' corporation that executed the foregoing instrument, and acknowledged said instrument to be the free and voluntary -•::'0,Z1 ,,P,',„; -i 1 "-----•-•act. and -deed of said corporation, for the uses and purposes therein mentioned, and on oath stated that they were au- ,' —thor ized-to execute said instrument. ';''L:3 ,::T',::1 '''',,i'lili• 'I 1/4., ',. 1 : ,':, ;;:i.'",:r•A , • , WITNESS my hand and official seal hereto affixed on i . • n, -,':''.', :•:-,.`?-: ,. ..f,:411,:in" - .adiilf.:e 1 G-. , 19 81. i :,:, : ‘:,'f `.;' I 1,(c'':- •.''',.•;''MOIA FA " ::,•• ' : : • ' : ' :: :::1:;' 'c'",,:• .„.„'5,_......1„,r , , •• . ,, 4 ok‘' . $; ':-A 4 •g,',. , ' • ••• otary Public in and for the State %, :' .-. ''%. ::- ' 4 of Washington, residing - , i - --:-; .,,,i :::' -•.•: ••• I:, '4* , ••:-1,: • .--,...."'E''''"•,0„ • ! :: •.;•-,:,,:••,.,:•:'::i;, : • '':•'"' ' • 1,:l .: ii&.- :ij,• ,, P!;.0''o, i Page 3 of 5 . ' ,•:. l'j '•c-W k5.. , i 4 , . : '''"s''''L - '.. . - 2' ' ' '''',"':,' '""`:;.*.,•:::.:7_,...,',.'". ...... --,iFT,,:,:: '''';4'4':''''',,1 ::'il''':.;;;.>. '.',..:',,g,..:5,4$:-;:.• 1 -,'Z.-., ..Wil ,MAW1. ; :e,',1-;i2',M,F#14.i. V/04NP&gbe • . *&g.,40310.ftl: IPOPgi.PNY'lag'..A, • • 1..,-...:-,;;110,T .•''' is,V,.. .:'`f,'V.X,,-.'•e* •p.,V .' • • . • • .. ., ' . " Tri IS 17: : .. ". 3,. i., :, r r 1 pry;5.sS, • yil F r + ,,ti,w Witness: BANKERS LIFE COMPANY, an w Iowa Corporation ":;' • f o • '5 By: - . :r5. Attest: j+ + i. UNITED BENEFIT LIFE INSURANCE , .vj COMPANY ,. • ti " " . . By: a:. h Attest: s 'O "MORTGAGEES" 5 N PAY 'N SAVE CORPORATION, a t i,."If; vzt • Washington Corporation O A. :' O k . By: {' t ". . . .. . . . . . . Attest: i' • . ' A,. ALBER SON'S, INC Delaware . . ' rf _ Cor ati ... (l k,iri in�" �:�/nes—/7:1.av0.4n,/ B , f; O Senior V ce P esident • ,-;1'1.S ° • • 'V&Ada••/•/Uk`/uiatL ' Attest: f w, . . Q. (L •,,,, �R ,l se et _.. q j',' ` SUTMERLAND ASSOCIATES; a' ," " r.rl.,' .t Con cticut Limi ed Pa tt�ership @� yg ` 1 111%1, -ook1�c •� 0. ereq.\ 1 rti•f �j+ ; t' - 1 ) )N L)t �i___ Attest: / E LESS S" � brF ey {_._..... ?i 411, , 1 • 141. , ..- ;::, .: .1'P 1 •)lt"=a•'4z: Page 3 of 511. n'�t'f Zyz fr .1 A IMMi - i 1�O' . • EXHIBIT '"-A" 4 Parcel 1: (Collins) Tract B, Joseph P. Marshall Tracts, according to plat recorded in Volume 38 of Plats, page 30, in King County, Washington; EXCEPT those portions thereof condemned for road under King County • Superior Court Cause Nos. 701162 and 741907. N In Parcel 2: (Kohl) All that portion of Tract 0 - 99 gfJoseph P. Marshall Tracts, according to N plat recorded in Volume 38 of Plats, page 30, '-1 v in King County, Washington, described as. • •? •+`- - 1 O follows: Beginning at a point on the west line ,,;;•; •,,'1',,<yr� CO of said Tract 9 '•and• the South right of way line "•,�`• of SR900 as described in Decree of Appropriation � }' 'i entered in King County Superior Case No. 742207, entitled State of.Washington vs. James A. Taylor, et al; thence South 240 feet along , 1- "�-,' `+ the west line of said Tract; thence Northeasterly ` " d : +,z 240 feet.from and parallel to the South line •, `.}� ' of said SR900 to the East line of Tract 9; • ';..,1, I thence North along said East line to the South ilr, • i',..'• right of way line of said SR900; thence South- . 1•` ,1: 1. • westerly along said right of way line to the , ;.t i!i point of beginning. • {, •,'Y. • ii Parcel 3: (Kyle) Tract 9 of Joseph P. 3 i- v ,, . Marsha 1 Tracts, according to plat recorded R;: ..y..;1 in Volume 38 of Plats; page 30, in King ��"�,.. County, Washington; EXCEPT that portion thereof ' "t 16.:, ;�:; = lying northerly of a line described as follows: F,.�,+,,i+, ! Beginning at a point on the west line of said t�! Tract 9 which is 240 feet south of the southerly • �, I� margin of SR900 as condemned in King County • ;�a � ' Superior Court Cause No. 742207;?-,.4 I, pthence north- easterly, parallel with said southerly margin, i to a point on the east line of said Tract 9 $A • '4„ ij which is 240 feet south of said southerl • y iil,fit i- 1 margin and the terminus of said line. k '. , � - - - - - - - - - - - - !'w � ° 3/26/81, • � `rls I NOTE: The composite of the three parcel description CO I cited above can also be described as follows: I� v.-0 i),',1 + Lots B and 9 of the Joseph P. Marshall Tracts, • $,y�g�j '� as per plats recorded in Volume 38 of Plats, b°' H Page 30, Records of King County, Washington; I . a ,rw " •' except those portions dedicated for road " . • " J 1 purposes. • .'-.''••. •'' .,,,',,j.,•,,'4P':. 'd'+YC�l{,.,r...,.„,,4.,..„','„„,„41"A..„,4yt)JiI; ..',4--, .0..•.vt..!h.,„)„,:,?,..„f ,,. c ^ :.,.: :,):,i,,it,. „1 . 1 , Pagie 4 of 5 ; ) . . ... • ' . - , p•wa........,, i 4.* . ., .11' E ph .11. . ... . fill 1 1 . ki 1111Mirillimillimilillul UILD. 144.1T.4111LS b k • ,_...,,, op 1 il li )11 . 21,111, ettft ... .v..k.i._•,8_____Trzn, , w....,:.,,,;.,:•.;,,,E,7,274,.. ' 1 61,i il • ' 0 ' to tit • z• ii ! CD 14 • • 2 11. 44 Crs 6 _kl1iti ' h 1 C\I 41 i g 4. -1 a3Thi 1 1 i, NL.NN\NN 'vlk...N%,‘ Viw- op.- 1006 zip.- oki.,*,:? i I IA, ' 1 1 1 I I I ii • ! t • `-;-7:, •,.i,t „. ' N O ii , kivli.1 fr ! 11' . 'N. k/ il • ... l' •' 4 . :,•II 3 ' 1 •-• \t.. ... -; i , it II . . Iro tr 11 "10 A II :,i. '• , '' 13 II, . ..,•.1.1 . . .) 1 't -11 r !1 •k' 41 tti..,1 le, ;•• • ,,,: ..,,,; ,i In. i ._+,, 101 . 4","..;,)t,01.-• , -. , )4,11v.),,1 1 kn. - 7 i___, ,fr•'VW'-i 1,..:, ill.j,,Zt' 'i NI 111:DA 'PAD 1 • ‘ TA-' lk,-. 16. ,,,;-•4'2' its, 13 ILbei IN N—.1 .,.- 1 m‘x s4aois , 400*, „ .,,, I. ..,l ' .4,,i..., NN PAD I ..._. , 1 Kor 23'terr , 4 i • .-- .,. liNN. s-s ! „. • 4010. ;4, 1.0 •; •I i , 1 MA v IIN .---e. 1 ' ,1 23 MT. , PLAIL-NA •sot.Ci.f.tt LAW Mk 4.54,411 02.11 ..: '...'I l • •11•N‘NN. 04-41,. • „,•ri 0 .*,.•i ... I..tr:1 ., •,,:! i l'‘ ..,.. ....i. , , „4,0- ... P i 1 1,•.1ff14' . bii-.*tite, --'7;;,./ EXHIBIT 31 i 4 '9 1 IV,.1 .. DeCiaratiOnlentS - Renton 11^1.aik 1? :I •-• _ /:' • !•If,.1 . . 1170E PLAN . 4.,,,, 4,Fiv gaps '41010 • • . 6. ,,:,„ lz,Airt's CENTRAL HIGHLANDS PLAZA . ..T...Wt.. okl. 12VP.1-4.M/..ns'r,.1 .11 , r. •,...,:::.:•„,k.T • •V' W:..);:''•.'4 1 1• 4 Page 5 of 5 : y...".••,t..;:„:•-•:1' i;,,,:• . y •-,,k.,r..., , - ... .. - . .. • • ‘ .. . •••• 1,r . . • . . ;-•-•..v.t.,,r, ,:,:r,. , • . " . <,-,, -....,•1 •v•• :4, • (-, • • * . ' 11 ' STATE OF WASHINGTON ) r • ) ss. COUNTY OF KING ) , On this day personally appeared before me C. E. LOVELESS and JOAN E. LOVELESS, to me known to be the individuals described in and who executed the within and i foregoing instrument, and acknowledged that they signed the same as their free and ) v41untary act and deed, for the uses and purposes therein mentioned. WITNESS MY HAND AND OFFICIAL SEAL hereto affixed this r27'5 day'of ' )WITNESS , 1981. • 1 1. �{i _.E.u ..r. rile?,.,,.Q N ARYL{PUBLIC an and far/t�he State of i Washington residing at /1�4t0e , i STATE OF WASHINGTON ) COUNTY OF••/4fn.._, ) ss. • .1 • �s?`,;e�k>',e',+ y 4 On thisday�— appeared before me RUSSELL COLLINS and IVA M.{'„�•.• z y�; personallyCOLLINS, --1" ,' ' "°s N tome known to be the individuals described in and who executed the within and #art O foregoing instrument, and acknowledged that they signed the same as their free and ` `. 0O voluntary act and deed, for the uses and purposes therein mentio y 1i WITNESS MY HAND AND OFFICIAL SEAL hereto affixed this 974 / de • # #; # ' , ! 0O A /'r'i l ' , 1981. ., Ii f 1 - fit f ? -t .. •, AI. NOT UBLIC in an or the�� tate of fi • S:}; Wash gton residing at !/lam AJ7'/,AJ . • �'�'/ "' . `� STATE OF LWTVN ) •I'lilllll„ r 1. ,'-,�9{i., .', ',1 m4n.�n�f1}•�• /f/ ) ss. • e I'll {i 1,�•�} �++u.Yii V1• A.rr C ) :. i ;•,1•.,En i a Y /�� d�'`I `'' I On this days�;-/•`j.;1��! , i personally appeared before me ALICE L. KYLE, to me known to be the 1 114.':- ! individual described in and who executed the within and foregoing instrument, and acknowledgedvoluntarydeed,t�, •:pl'''� that she signed the same as her free and act and for i tb:.,} I. the uses and purposes therein mentioned. ' • eiit,f�`• .,i; WITNESS MY HAND AND OFFICIAL SEAL hereto affixed this day of «w d R �0. I , 1981. • '.r} /S&i ! ,-,<11 NOTARY PUBLIC in and for State of . • }i,' j Washington residing at ��„ ,� • n ) is QI b STATE OF ;' c- ) ss. • tft I, . q CDUNTY OF ' '• ) 4� 51Yr :u' 4 '' � On this day personally appeared before me and •I• M1 ". i .A p�:ii , to me known to be the individuals described in and " !+ Ji« executed the within and foregoing instzwmatt, and acknowledged that they signed 1 III the same as their free and voluntary act and deed, for the uses and purposes therein P • I mentioned. e,c,••• ,r o,_�} WITNESS MY HAND AND OFFICIAL SEAL hereto affixed this day of j • Ar 11. '•r , . 'I .,, w*J- NOTARY PUBLIC in and for the State of • i', 'ygli,! `t'•" Washington residing at • i ., . .. _...:::„. „7„.„ . .4::,.,,, ,. ._. -,,,,z... a ., e „ 1 ,,STATE OF /4J0.�_ _ ) K D_ _ ; ss. OOUNTY On this !'{ day of �/► �'+�� 71 , 1981, before me, the under- si a Notary Puis b in andsaid fof Sh Q, personally ' T. K and ,.,..,,,,,,„„,.,,, , to • me knatn to be the and �, , respectively of ,0e.. , the oorporatwn at executed the fore- . going in t, acknowledged to me that said instrument is the free and i. voluntary act and deed of said corporation, for the uses and purposes therein menticned, and on oath stated that they are authorized to execute the said instrument and that the seal affixed is the corporate seal of said corporation. WITNESS NY HAND AND OFFICIAL SEAL HERETO the day, month and year in this ' r- certificate first above written. C ,<-0):—e .., :. 4'sr z+a d NOTARY P T.IC in and or fate of .,p.f+ ;r :.r . p � � residing at ,• ye oD IA )4.S • , , . '" d STATE OF ) ) ss. , -d jj. COUNTY OF' ) • ,s.4•: M. On this day of , 1981, before me, the under- ,. ,�' signed a Notary.Public in and for said State, personally appeared and , to i 1 • me )mown to be the' '.. ' . • and , re- � 11' I spectively of , the corporation that executed rr ,';'. the foregoing instrument, and acknowledged to me that said instrument is the 1•'.r free and voluntary act and deed of said corporation, for the uses and purposes !1i:is�.,'. therein sentioned, and on oath stated that they are authorized to execute the r ' I,�.a said instrimlent and that the seal affixed is thew rate seal of said i IfFi{�o corporation. • 1 r q WITNESS MY HAND AND OFFICIAL SEAL HERETO the day, month and year in this ii(,:.. •pl ' certificate first above written. . $ i; t UNARY PUBLIC in and for the State of iwl residing at } ss. �= ) s B 00[&dPY OF y,q, I P`,g• On this day of , 1981, before me, the under- -!;+��,,, signed a Notary Public in and for said State, personally appeared ,a+'t,'! f,. and , to me known 1, )nA 7. �1 ,,' to be the and , ram °y�"�.K„ spectively of , the corporation that ~" ' i executed the foregoing instrument, and acknowledged to we that said instrument • •-fir 'fA• •,.1 is the free and voluntary act and deed of said corporation, for the uses and • :;•; ;:,:4-",..1' r l,t1 purposes therein mentioned, and on oath stated that they are authorized to ..p• -:.wiry.+ , • 1c.� r=y,t, execute the said instnarnnt and that the seal affixed is the corporate seal of r' ,,,.1 ,,• said corporation. 'ei, r,r;.;..•;�; WITNESS MY HAND AND OFFICIAL SEAL HERETO the day, month and year in this ‘', �' ?' „ certificate first above written. `e .ilr ;;•= , NOTARY PUBLIC in and for the State of '�j,.;' �,. residing at I . • `}ir lM1''a r Vii^ ul sty••` ', r . . f A - N STATE OF ) i ss. I 1 COUNTY OF ) - • On this day of , 1981, before me, the under- ' • signed a Notary Public in and for said State, personally appeared and , to . me known to be the and , respectively of the corporation that executed the fore- , going instrument, and acknowledged to me that said instrument is the free and voluntary act and deed of said corporation, for the uses and purposes therein mentioned, and on oath stated that they are authorized to execute the said instrument and that the seal affixed is the corporate seal of said corporation. WITNESS MY HAND AND OFFICIAL SEAL H REIO the day, month and year in this certificate first above written. • f ON NOTARY PUBLIC in and for the State of q N residing at • : : STATE OF' .:04.6 rt c.. ) . COUNTY OF (1(1,c ) On this (.�/A day of (�/ ., L' , 1981, before me, the under- ' i siggned a Notary Public in and for said State, personally appeared i �I,• r'•'' '"(')�'/',t•1.i. :.:). ,Lk.,./•..., and /)I//1,L(,' !�'. /[i/i,yl/'li"Ilk r tO .Y,`,•• SSSSj me Iowan to be t .�',C(t I'•SJt� a .L.and S,.r,.i.L.:. ../ , re-- '':'-'I,I ' the cozpolration that executed E . ,, spectively of"[lr""//.'(.,.•., •V.,. , m '•;i,.'':''�:�''i, ` the foregoing instrument, and acknowledged tore that said instrument is the t ' "`i$'P• free and voluntary act and deed of said corporation, for the uses and purposes t' i.11 ' therein mentioned, and on oath stated that they are authorized to execute the e i.V., said instrument and that the seal affixed is the corporate seal of said j E " i,,' ,).(':'.. i. corporation. -.. .• •• ' ktZ t WITNESS MY HAND AND OFFICIAL SEAL HERETO the day, month and year in this ' ( •;3^ ;'I certificate first above written.. ' . y ., ;, ► A _ • ;,I NOTARY PUBLIC in and fclr the State of , -. Itit.4 7'1.I •.. �}cl a.h c. residing at • . . .. _,,,,,, f.,,, -. . , ,,,, :„.,., ., : , 1 ., STATE OF'''(\e\.J L\OC\C ) 14' COUNTY OF' \New L\l cl� ) ss. tt H .. •j•.9' On this ?j�''° day of `{�\ '\ , 1981, before me, the under- ( , ld signed a Notary Public in and for'aid State, personally appeared L• \CLQ_ {{{( i.? '•,,r )_ \�1�1v\�rx*v and: .11. C�c ecqq�>� \fie\ to m(e }}knave .. .a ' ,�{,.' to be the \l'.C6 Qc,��de Ln� and J L�S�`� 1i�� JC((C�C1l �- ^ ° tr a corporation tha y: -Al spectively of ��•C,o.`� C r�c . ( $ executed the foregoing instnment, d acknowledged tore that said instrument s: ' r''`R is the free and voluntary act and deed of said corporation, for the uses and ,.l,, w..r. ;ti''.. v 60, 1r ; , purposes therein mentioned, and on oath stated that they are authorized bo ,:.._,,, `' ';' r ,;' execute the said instrument and that the seal affixed is the corporate seal of ' / �`4. said corporation. a •7...:. .Lt;,y$;t;; WITN FSS MY HAND AND OFFICIAL SEAL HERETO the day, month and year in this t y? '"s't' .• ;',i •• • certificate first above written. G�LY1\cc,vr.-(t¢/`• I P! ' .y;r' ROBIN YARMESCN %..AtSSC N I 1k1,1,••. '' Na(eryRa Na47,777d6NewYarh . �, 7f �'•'-`3 Certified Ou.N,n Kum County ��G ( S.nv..,AJ,� '1 In ` _' . .'/,I Commisalon Exnlre� M 3o,Be NOTARY PUBLIC in d for the Stat of r.' ,+' v L ��l J �OCk. residing at r 01 • • • • STATE OF IOWA ) se, COUNTY OF POLK ) •• 0 1, On this 23rd day of April, A.D. 1981, before me, a notary public in the state of Iowa, personally appeared D. P. Rupprecht and D. P. Francis, to me personally p known, who being by me duly sworn did say that they are each Regional Director - N Commercial Mortgages of Bankers Life Company, that the seal affixed to said instrument is the seal of said corporation and that said instrument was signed • and sealed on behalf of the said corporation by authority of its board of directors and the said D. P. Rupprecht and D. P. Francis acknowledged the execution i • 07� -r'0`tti. of said instrument to be the voluntary act and deed of said corporation by it ' &1 ; voluntarily executed. ' o1 Notary Public ' z:Y +,7••, i '.. E, °F f;II IVOR J.PHkLL{ .. �._'•' ' 1 .ya,- H SePten 5er 8U. X ES ji . ;s ; f i..{,gg:r..F- 1{ STATE OF_NEBRASKA ) 44.r1. .. , 1 'QXL iy OF' DOUG ) es. I.41 LA9 ) { j. On this 14th day of April i.¢: ,'t1,': signed a No -�_, 1981, before me, the under- y •1,=-1 i Thomas ' Public in and for�aayd State, Personally appeared 11d. .•{, ii: Sahmit 1�� beeebnd , to me known j a•• sPectively of — d re- ` �snefit l;fe rn ,ran A Co , the corporation executed the fo inatsi that } r is the free and volunt instrument, and acimo!vledged to me that said instrumnt i 1I ary act and deed of said corporation for 3 -i'�4,1 Purposes therein mentioned, and on oath stated that they •re authe uses and 4�4•;� t i execute the said instrument and that the seal affixed i the corporate to ' Jot: ;, . I said corporation. rPorate tea] of . .!..•, ?,. irrness my HAND AMID OFFICIAL SEAL HEREZD the day, month and year in this ! '' ..: , :: ::. .. .... ' `,. certificate first above written. • •.�' ,; a* ,•M+ray ta.,n.[:,.c ::.. `" 2 fa r'31',i,,l A`JTP.RY PUHLIC 1n and for the State of . • r''�' �. Nebraska �,q. 1 'i.s Omaha, residing at „r� 4 %;f p.h d �.�.._ _.__.. . Nebraska= . . ... .. , ,...,,",........,,..„,„..„,.:,,,r,,„,,,,v,,,,,7-_-:-----;'.,. ',. . .. ... 4 . . . . . • . .• .. . . . . .. ., .. . . . . . .4y eo ...,,. .. .1,.., .., .A.,,I, • . , ..:.,... -.SV,T Ai. • • • 1„ )= f r, .. •.. . . • . ,. . y'�tiy.�'.' . . '.,fir :k • • ", ' ,. 1'`e`: . ,. ° . . • ccrerairs i ® - SECOND AMENDMENT TO DECLARATION OF EASEMENTS i!c THIS SECOND A.N[ENDME:NT TO DECLARATION OF EASEMENTS ("Second a .Amendment") is entered into as of the 1 day of /fp.t- , i99k.by and betweenIre A.L. INashburn and Tahoe T. Washburn, husband and wife thereinafter called "Owners"); Sun Life Assurance Company of Canada.a Canadian corporation. United of Omaha Life • 42 Insurance Company(formerly known as United Benefit Life Insurance Company),a Nebraska ;orporatton. and First Interstate Bank of Washington. a national association thereinafter a Thrifty Payless, Inc., a California corporation, successor by mergers to F :effectively r fened to as"Mortgagees");•ADC Distribution Corp..a Maryland corporation. ,e i3 zErnst Home Center. Inc.. a Washington corporation, Albertson's. Inc.. a Delaware O J.S. Restaurant Properaties Operating L.a., formerly known as i .:orporation;Burger King Operating Limited Partnership.a Delaware limited partnership, z Calny.Inc..a Delaware corporation(hereinafter,together with Sutherland,collectively referred to as"Lessees'). and Sutherland Associates.a Connecticut limited partnership doing business rn the State of Washington as Sutherland Associates Limited Partnership (herein called • 'Sutherland"). C Imo. RECIT. : A. Sun Life Assurance Company of Canada is the beneficiary under a deed of trust recorded April 7. 1992 under King County Recording No.9204071262, B. United of Omaha Life Insurance Company is the Mortgagee under a Mortgage recorded December 21. 1978 under King County Recording No. 7312210377. C. First Interstate Bank of Washington is the beneficiary under a Deed of Trust recorded May 2. 1994 under King County Recording No. 9405021311. SECOND A.\1_'DStE"T TO DECLARATION OF E.ISESIENTS - I • >tar.;C 1J.;L4 •?3._9.95 EXCISE TAX NOT REQUIRED • 1 OSIZENZIM • - rany'- a Thrifty Payless,.Inc-, successor by :vergers to D. /ADC Distribution Corp. is the assignee from Pay'n Save Drug Stores, Incorporated under an Assignment of Lease and Guaranty of Tenant's Obligations recorded July 27. 1992 under King County Recording No.9207270550 of the Tenant's interest in the Lease !, described in Exhibit'A'attached thereto. E. Ernst Home Center. Inc.is the assignee from Seattle Standard Corporation, a Washington corporation, formerly known as Pay'n Save Corporation, under an unrecorded Assignment of Lease and Assumption dated May 3. 1986 of the Tenant's interest in the Lease described therein. 09 r4F. Albertson's.Inc..as Lessee,executed a certain Shopping Center Ground Lease O ' 0 (which was subsequently amended and which is being amended again in connection with the f ; C execution of this Second Amendment:the land demised by such Shopping Center Ground Lease, t0 Cl as so amended,being called herein the'Sutherland Premises')with predecessors of Owners,a memorandum of which was recorded on September 22. 1978 under King County Recording No. • } 7809220396 and a short form of which was recorded December 21. 1978 under King County Recording No. 78122 108 73,and is the Lessee under a certain Lease and Sublease Agreement with Sutherland dated as of December 1, 1978 as disclosed by a memorandum recorded y December 21, 1978 under King County Recording No.7812210876,which Lease and Sublease • Agreement and Memorandum are being amended in connection with the execution of this Second Amendment. G. Sutherland is the assignee from Albertson's.Inc.of the interest of Albertson's, Inc.in the Shopping Center Ground Lease referred to in Recital"F"above,is the owner of fee 11 simple tide to die buildings.structures and other improvements on the Sutherland Premises,and • SECOND.i.MENDMENT TO DECLARATION OF EASEMENTS -2 M I.kC 1 S.i I4 03,29i9$ n • itir i . . . ,.._ tom ... • MC® • 1111 • • is Lessor under that certain Lease and Sublease Agreement with Albertson's. Inc.dated as of December 1, 1978.as disclosed by a memorandum recorded December 21. 1978 under King County Recording No.78122108 76.which are being amended as provided in Recital'F"above. U.S. Restaurant Properties Operating L.P., formerly known as H. /Bu ger King Operating Limited Partnership is the assignee of the Lessee's interest under a certain Lease with predecessors of Owners dated February 6. 1981 as disclosed by a Statement of Commencement of Ground Lease Term recorded July 31. 1981 under King County Recording No. 3107310114. I. Calny.Inc.is the assignee and existing holder of the lessee's interest under an :mrecorded lease dared December 22. 1978 between predecessors of Owners and Restaurant 3!) Worlds. Inc.,an Oregon corporation. which lease was amended Mash l2. 1979 and June 26. • 1979 and assigned to Cainy• Inc.by instrument dated December l3, 1983. J. Predecessors in interest to Owners entered into that certain Declaration of cyl Easements(hereinafter referred to as the"Declaration')dated September 19. 1977 covering real • property situated in the County of King. State of Washington,more fully described as follows: Lou 3 and 9 of the Joseph P.Marshall Tracts,as per plat recorded in Volume 38 of Plats. Page • 30. records of King County.Washington: except those portions dedicated for road purposes. • The Declaration was recorded September 21. 1977 under King County Recording No. • `092 10630. • K. The Declaration was amended by a First Amendment to Declaration of Easements thereinafter referred to as the'Fast Amendment"; the Declaration and First:lniendment are hereinafter collectively referred to as the'Amended Declaration')dated as of March 26, 1931 and recorded April_9, 1931 under King County Recording No. 8104290507. SECOND.AMENDMENT 70 DECLARATION OF EASEMENTS -3 Nouc ts.r14 • fir; .: 3 • _ = -- • ctazzegem a . I . L. Owners, Mort gagees and Lessees each own interests in.or a hold a lien on. all or a portion of the property covered by the Amended Declaration. 1,f. The parties hereto desire to amend the Amended Declaration as provided herein. VOW.THEREFORE, in consideration of the mutual covenants contained herein, it is agreed as follows: 1. Exhibit"B"attached to the First Amendment,which had been substituted in place of Exhibit "A" to the Declaration. is hereby deleted, and Exhibit A. attached hereto is substituted therefor in all respects, so that Exhibit"A"attached hereto is deemed to be Exhibit 11 'A"attached to the Declaration. 104 Each of the parties hereto hereby consents to the expansion of the building tt identified as"Food Center"as depicted on the attached Exhibit A .any contrary provisions in the Lessees' and Sutherland's respective Leases notwithstanding. 3. Owner hereby warrants and represents that all mortgagees.beneficiaries,and other persons and entities required to consent to the execution of this Second Amendment by Owner. hy mason of an agreement(other than the Amended Declaration)between such Owner and any ;arch mortgagee. beneficiary. or other person or entity, have attached their consents to(or are a party tot this Second Amendment:provided,however,that Owner makes no representation or warranty as to any consents which may be required under the terms of any teases affecting the property covered by the Amended Declaration unless neither such lease nor a memorandum thereof is recorded in the official records of King County, Washington. Each Lessee hereby warrants and represents that all mortgagees,beneficiaries.and other persons and entities required • I • ro consent to the execution of this Second Amendment by such Lessor, by reason of an SECOND AMENDMENT TO DECLARATION OF EASEMENTS •4 St tssc I25.Ila oT29,45 it-i set I: e — — x-ram...,.• �a.�. • • { gasmurs • • I f agreement(other than the Amended Declaration)between such Lessee and any such mortgagee. beneficiary or other person or entity, have attached their consents to (or are a party, to) this Second Amendment. Calny.Inc. further represents and warrants that the facts set forth in Recital"I" hereof are true and correct. 4. Anything contained in the Amended Declaration and this Second Amendment(the Amended Declaration and this Second Amendment being collectively referred to herein as she "Second Amended Declaration")to the contrary notwithstanding.no recourse shall be had for { the payment of any sum due or owing or arising under or with respect to the Second Amended rn Declaration or for any claim based thereon or otherwise in respect thereof against(i)Sutherland or any partner of Sutherland or any partner of any partner of Sutherland.or any incorporator cnor any past.present or future subscriber to the capital stock.stockholder,officer or director of a, any.:orporate partner thereof,together with those of any predecessor or successor corporation, • or any legal representative, heir. estate, successor or assign of any thereof; or (ii) any corporation or any officer, director, or shareholder thereof), partnership (or any partner thereof), individual or entity to which the leasehold interest of Sutherland in the Sutherland Premises, or any part thereof, shall have been or shall be transferred (or any legal representative. heir, estate. successor or assign of any thereof); provided that the foregoing provisions of this paragraph shall not prevent recourse against the aforementioned leasehold Interest of Sutherland or impair the rights of any party against Albertson's, Inc. under the Second Amended Declaration and shall not limit the right of any person to name Sutherland or any transferee of its aforementioned leasehold interest as a party defendant in any action or suit in the exererse of any remedy under the Second Amended Declaration, so long as no judgment III • SECOND AMENDMENT TO DECL.vRATION OF E.ASEStEtvTS 5 \IM,AC I:5.1I4 03r:919S II r:: A i • seeking personal liability shall be asked for or. if obtained,enforced against any such named defendant. 5. Except as amended herein, the Amended Declaration remains in full force and effect. a. To facilitate the execution of this Second Amendment,each party hereto agrees that this Second Amendment may be executed in separate identical counterparts. all of which •"1 together shall constitute a single original instrument, and this Second Amendment shall be O effective upon execution of one or more of such counterparts by each of the parties hereto. 0 . This Second Amendment is made in conjunction with a Fourth Amendment to Q? Shopping Center Ground Lease of even date herewith concerning the Shopping Center Ground i 's referenced in Recital"F hereof. The Fourth Amendment to Shopping Center Ground Lease is necessary to provide for an expansion of the'Food Center' depicted on the attached Exhibit 'A'. The Fourth Amendment to Shopping Center Ground Lease contains certain ,onditions which• if not fulfilled or waived,will give the parties thereto the right to cancel the Fourth Amendment to Shopping Center Ground Lase by giving notice of the exercise of this right of cancellation and submitting such notice for recordation. Such recorded written notice • .anceling the Fourth Amendment to Shopping Center Ground Lease shall also cancel this Second Amendment. in which event the Amended Declaration shall continue in effect as if this Second Amendment had never been entered into. I • SECOND,AMENDMENT TO DECLARATION OF EASE IENTS -6 .It; U3,29r95 i• ,• • $ • • • I .00a • 1111 • EXECUTED as of the day and year first above written. OWNERS: MORTGAGEES: Sun Life Assurance Company of Canada.a Canadian corporation By • A.L.Washburn 1 Its Fug R1 PRESIDENT 1 0.i ' W lvt��']u�� :/ , /( • Tahoe T. Washburn Its ,.•r-1 (Corporate Seal) United of Omaha Life Insurance Company,a Nebraska corporation 1 C iy s = d Attest: I t Its• (Corporate Seal) First Interstate Bank of Washington, • a national association By Its Attest Its (Corporate Seal) LESSEES: ADC Distribution Corp., a Maryland corporation III • By Its j T r SECOND AMENDMENT TO DECLARATION OF EASEMENTS -7 ��C MM&C 125.114 03,29195 • • 1mas Se=gezeo ECECUTED as of the day and year rust above written. OWNERS: MORTGAGEES: Sun Life Assurance Company of Canada.a Canadian corporation 1 By A.L.Washburn Its • • • Attest Tahoe T.Washburn Its (Corporate Seal) United of Omaha Life Insurance Cam any,a Nebraska corporation By �„- t. ( ,..Q,L, all aIts r.es t tJ P Anesi' W\ Its Cl- r' , (Corporate Seal) rust Interstate Bank of Washington, a national association By • Its Attest: Its (Corporate Seal) LESSEES: ADC Distribution Corp., a Maryland corporation I • • By Its i`•1� SECOND AMENDMENT TO DECLARATION OF EASEMENTS •7 o i NLMIC 125.114 O3I29r95 • • 1 .ram. • c.— t,CECLITED as of the day and year fast above written. OWNERS: MORTGAGEES: Sun Life Assurance Company of Canada.a Canadian corporation By A. L.Washburn Its Attest: Tahoe T.Washburn Its (Corporate Seal) United of Omaha Life Insurance Company,a Nebraska corporation Ct By s� Its O Attest: et Its O (Corporate Seal) First Interstate Bank of Washington, a national association By BS Attest: '/ 'r) ' 1 C its An.i r..r'r•u AA J....r (Corporate Seal) LESSEES: Thrifty Payless, Inc., a California corporation, successor by mergers to ADC Distribution Corp., a Maryland corpOrayoa 11 • By ,.. Its �, . I vit. • .tom+ SECOND.V.1ENDMENr TO DECURA LoN OF EASEAI TS •7 , M'.I &C 125.114 0349495 T-i • • �y : • • • • 61:11111013141 • ; lemmas • Ernst Home Center, a yttehingten,corporation MOO Albertson's,Inc., a Delaware corporation By Vice President, Real Estate Law Burger King Operating Limited Partnership, a Delaware limited partnership By A General Partner Cathy,Inc., a Delaware corporation 1 41' By Its Sutherland Associates, a Connecticut limited partnership, doing business in the State of Washington as Sutherland Associates Limited Partnership By • Sanford Merkin A General Partner • 111).111 1 tvuartarader.r) I . SECOND A.MENDMENT TO DECLARATION OF EASEMENTS-S • :• sthl&C 15.114 03r29/95 • r • • • „ . • • • • • Ernst Home Center,Inc.. a Washington corporation By Its Aibertson's,Inc., a Delaware corporation Vice President. Real Estate Law U.S. Restaurant Properties Operating L.P., formerly known as Burger King Operating Limited Partnership, a Delaware limited partnership Q! By U.S. Restaurant Properties, Inc. Ca A General Partner a beiasrare corcoration Sy: its: • Calny,Inc.. a Delaware corporation Q1 By Its Sutherland?associates. a Connecticut limited partnership. doing business in the State of Washington as Sutherland Associates Limited Parrnership • By Sanford Markin • A General Partner • .auM(J.N1W'smMc.0 I . SECOND AMENDMENT TO DECLARATION Of E.iSE1tENTS-S �'' ' .IM&C 1:5.113 03/29r9S • • dries • • • • • • 1111 • • at! • • Ernst Home Center,Inc., a Washington corporation By Its • • Albertson's,Inc., a Delaware corporation • BY Vice President. Real Estate Law U.S. Restaurant Properties Operating L.P., formerly known as Burger King Oping Limited Partnership, a Delaware timite ership • t!� B U.S. Restau a• pt Properties• , Inc. • AY Gene. a Uelaware'/corrporation By: Ia0'le1Gf Calny Inc., ' a Delaware ccipohtion By CID Its Sutherland Associates, a Connecticut limited partnership, doing business in the Slate of Washington as Sutherland Associates Limited Partnership BY Sanford Merlon • A General Partner Mut:J.t t+lY6h alke;I . II • • r SECOND AMENDMENT TO DECLARATION OF EASEMENTS -S u F'+ S45-1SC 125.114 031 9i95 • • H d, • se • • •4L.ti47 Ernst Home Center,Inc., a Washington corporation By Its 1 1i Albertson's,Inc., a Delaware corporation • By Vice President, Real Estate Law Burger King Operating Limited Partnership, a Delaware limited partnership CI By grol A General Partner ! p Calny, Inc.. ,1 a Delavaz corporacic (] (/I ?�Evl_•r;ED av By Its LAUR£r10E_Gg RICz•L Assistant Secretary. Sutherland Associates, a Connecticut limited partnership, • doing business in the State of Washington as Sutherland Associates Limited Partnership By• Sanford Merkin A General Partner u+I .10.4.•.a--,•... I . .�. SECOND AMENDMENT TO DECLARATION,OF EASEMENTS -8 tt. c t:5.ttj 03,19•95 2A • • • • • Imo" a • Ernst Home Center,Inc., a Washington corporation By • Its • Albertson's.Inc.. • a Delaware corporation • Byas...r.-d—r--... _CL.---.--&-L-Q-, • • Vice President,Real Estate Law 1 Burger King Operating Limited Partnership, a Delaware limited partnership • v•I m By p A General Panner O el Calny,Inc., 0 a Delaware corporation •CD M By • Its I Sutherland Associates, a Connecticut limited partnership, I doing business• State of Washington Limited • By • Sant A eral Parma • SI • '. 1%. SECOND AMENDMENT TO DECLARATION OF EASEMENTS-8 . 1 :••r•� KM&C• t25.1t 03n_9195 8k1Rt 1 • • II • f ® • • . STATE OF kinesli/t4672A/) i' )ss. County of k,r//G ) On this /DO day of .4-pc t� , 199 S,before rne,the undersigned, a Notary I Public in and for said State,personally appeared A.L.Washburn.known or identified to me 1 i to be the person whose name is subscribed to the within instrument, and acknowledged to me that he executed the same. I IN WITNESS WHEREOF. I have hereunt my hand an ixed my official seal the • day and year in this certificate first above wri Print: f V NOTARY PUBLIC for Residing u$ C.EL'1 My commission expires: 3-/-97 • Z CIO ll STATE OF ION(�T{J ) )ss. County of V[kd& ) ni On this /O day of fflel L , 199 before me,the undersigned,a Notary Public in and for said State,personally appeared Tahoe T.Washburn,known or identified to me to be the person whose name is subscribed to the within instrument, and acknowledged to • me that she executed the same. IN WITNESS WHEREOF.I have hereon set my hand and affixed my official seal the day and year in this certificate first above wri Print: a NOTARY PUBLIC for Residing at131El1..�k(rsi—.. sty commission expires: 3-1 5'7 f I • i' SECOND A.�ME`DMENT TO DECL►RATtON OF EASEMENTS'-9 1'7 MLM. C 125.114 03/29195 . .41.:,:, [. , • .t.T2„-........ ,, .::µme..t.�;. . • I • • CONDIO`"WEALTH OF NL-1SSACHCSEITS , ,ss. COUNTY OF On this day of . I99_. before me, the undersigned. a Votary Public in and for said commonwealth. personally appeared and • .both to me known to be acting for the and , respectively. of Sun Life Assurance Company of Canada.the corporation that executed the foregoing instrument.and acknowledged to me that the said instrument is the free and voluntary act and deed of said corporation,for the uses and purposes therein mentioned, anti on oath stated that they were authorized to execute the said :nstrument and that the seal affixed is the corporate seal of said corporation. 7.Tfy'ESS MY HAND and official seal hereto affixed the day, month and year in this --:trwticate first above written. Print: NOTARY PUBLIC for Residing at 1 My commission expires: 2 STATE OF NEBRASKA v 55. I`% Count_,of J),�!y li ) ler ti On this r„-f_day of r';L(LL1.JP . I99.. before me, the undersigned, :.`.ci:,.•. Cn Public n and for said s e. personally �'appeased 1 24 �,.! i t.G.`.u2r;_ ,tome known to be the 4•11 t tie andOol it/WK.-14j respectively.of Unites'of Omaha Life Insurance Company, the corporation that execut{d the foregoing uutrument.and acknowledged to me that the said instrument is the free and voluntary act and deed of said corporation,for the uses and purposes therein mentioned,and on oath stated that they are authorized to execute the said instrument and that the seal affixed is the corporate seal of said corporation. WITNESS MY HAND and official seal hereto affixed the day, month and year in this certificate first above written. Yt ARY PUp.LIC for AubjeL,2a ��jAl Residing at YylCtllu; • .■sasaoskriarsss My commission expires: '7-,a'T �S • SECOND AJiSisinst art TO DECLARATION OF EASEMENTS - ld �•.... SL\t&C t:5.i11 cor:9r9S •j f {i • __ O 11111 State of Massachusetts County of Norfolk On this 6th day of June, 1995 before me appeared Margaret Sears Mead and Jeffrey J. Skerry both to me known to be acting for the President and Secretary respectively of the Sun Life Assurance Company of Canada, the corporation that executed the annexed instrument, and acknowledged the said instrument to be the free and voluntary act and deed of said corporation, for the uses and purpo s th�e. in mentioned, and on oath stated that they were authorized to e cute said—instrument, and that the seal affixed is the corporate seal of said corporation. IN WITNESS WHEREOF, I have hereunto set my hand and affixed my official seal the day and ye f,.r t above written. t_a,t ' 3race Taglienti, N ary Public My commission expi s: November 2, 1995 Print: 1.4 NOTARY PUBLIC for •Z1 Residing at My commission expires: tJ STATE OF NEBRASKA Iss. County of On this day of . 199_, before me, the undersigned, a Notary • Public in and for said state. personally appeared and ,to me known to be the and • respectively,of United of Omaha Life Insurance Company,the corporation that executed the foregoing instrument,and acknowledged to me that the said instrument is the free and voluntary act and deed of said corporation,for the uses and purposes therein mentioned,and on oath stated that they are authorized to execute the said instnrment and that the seal affixed is the corporate seal of said corporation. WITNESS MY HAND and official seal hereto affixed the day, month and year in this .ertiticate first above written, NOTARY PUBLIC for • Residing at My commission expires: SECOND AMENDMENT TO DECLARATION OF EASEMENTS • 10 tIJGYC 125 Its 03r29,95 Yi 1• i �n4 • • • 1111 STATE OF WASHiNGTON us. 'County of t:,<.� On this 2i day of A/oue..b e.. , i99 S . before me. the undersigned. a Notary Public in and for said state. rsonally appeared R,,.c.t../I.To e..ae•.and Per R Da •o me known to be the p,. ""' �'"' x"t v:e..P.+:de..t and u�� P.c�ilo.r , respectively. of First Interstate Bank of Washington.the corporation that executed the foregoing instrument, and acknowledged to me that the said instrument is the free and voluntary act and deed of said :otaotatien. for the uses and purposes therein mentioned, and on oath stated that they are • authorized to execute the said instrument and that the seal affixed is the corporate semi of said • :orpuration. WITNESS MY HAND and official seal hereto affixed the day.month and year in this • ! ` t-c€dii§icate first above written. le: . OS t 2 i 4:tat 'A C C P. Print: THO AS L." f'EF t +.+"��.: VOTARY PUBLIC for u)asw..yw. stag •lite V,„„or • of Residing at •• + !`� +111 My commission expires: t)Arga • o'tr►+ STATE OF -7.13 t. ss. • Count,. ot C{<iCi•Lt..l Ein On this `r day of I\00.:144.- 199- . before me. the undersigned. a Notary • Public in and fur said state,personally appeared ,i,r)u.. 6:7..:,,known or identified to me -,t he the '.-t _t of`ADC Distribution Corp., the corporation that executed the • :nstn)ment or the person who executed the instrument on behalf of said corporation. and icxnuwledged to me that such corporation executed the same. i _ Iti WITNESS WHEREOF.I hare hereunto set my hand and affixed my official seal the ray and year in this certiftate first above written. • OFFICIAL:EAU s 1 •Y••:.'.(j:a: _...�. y NOTK A9LIt CtORry]N Pr�rif: .:�f yy `Jt;ltitr".t \, rAMN(SltON Mt:.G NOTARY PUB'LI<C ifor irtCOV� IONDAnre�� DiL r_s Residing at I't:t.e.i t , 4• , My commission expires: e.Il•rF • Tr..fty Payless, Inc.. successor Dy ;vergers t0111 • iECONO .arIENDMENT TO DECLARATION OF EASE}tENTS - I i • • • 111 • • STATE OF W e.«t 1 ii&fit,]) )ss. County of k',,,�0. ) On this c ' 'day of 1996_.before me, the undersigned, a Notary Public in and for said state,personally pealed wn or identified to me to be the I-kee.eJ,P of Ernst Home Center, Inc., a W en corporation, the corporation that executed the instrument or the person who executed the instrument on behalf of said corporation. and acknowledged to me that such corporation executed the same. • IN WITNESS WHEREOF,I have hereunto set my hand and affixed my official seal the day and year in this certificate first above written. Print: .`j n2• Fc(r�r9w._ NOTARY PUBUC for;Le SrnLQ rtc VJtsJk tih Raiding at \4;vv Ni n . My commission expires. (Q Q 1 STATE OF IDAHO ) )ss. County of Ada ) • On this day of . 199 . before me, the undersigned, a Notary Public in and for said state,personally appeared William H.Arnold, known or identified to me • to be the Vice President, Real Estate Law of Albertson's,Inc.,the corporation that executed Cthe instrument or the person who executed the instrument on behalf of said corporation, and acknowledged to me that such corporation executed the same. Q! IN WITNESS WHEREOF.I have hereunto set my band and affixed my official mal the day and year in this certificate first above written. • Print: NOTARY PUBLIC for Residing at My commission expires: - . SECOND AMENDMENT TO DECLARATION OF EASEMENTS - 12 c :r{ SINLIC 1:5.114 0i6:9/95 • • ':rt` • • • 1 +0211RED • STATE OF 1ss County of On this day of , I99 , before me. the undersigned, a Notary Puolic in and for said state,personally appeared ,known or identified to me to be the of Ernst Home Center, Inc., a Washington corporation. the :orporarion that executed the instrument or the person who executed the instrument on behalf of said corporation.and acknowledged to me that such corporation executed the same. IN WITNESS WHEREOF,I have hereunto set my hand and affixed my official seal the day and year in this certificate first above written. Print: NOTARY PUBLIC for Residing at My commission expires: • STATE OF IDAHO ) -•1 )ss. County of Ada On this 2 day of %.*4, ,Z., 199t', before me, the undersigned, a Notary tT Public in and for said state,personally appeared William H.Arnold.known or identified to me • to be the Vice President. Real Estate Law of Albertson's,Inc.,the corporation that executed • the instrument or the person who executed the instrument on behalf of said corporation, and acknowledged to me that such corporation executed the same. N WITNESS WHEREOF,I have hereunto set my hand and affixed my official seal the day and year in this certificate first above written. ,,.1111+.,,.f,,, `' %t. t ,, n n nti • t: -.�+••c v.:: E 7i1. 71 e&',c 4, ,) • " " :NOTARY PUBLIC for . Residing at 4)d)}t�Z� •t�i A • :NIy commission expires: „-,'/-`p7 • f ff•fff lllf\•\• • ti • SECOND AMENDMENT TO DECLARATION OF EASEMENTS - 12 tl,l.$C l5.1 ti 03.:9e9S • • 1111111110111111 • . • aeratem • • STATE OF l L'�G,� ) • )ss. County of ,4! il�Y ) On this iv___day of; n,rL....l,c% 1995- , befo me, the undersigned, a Notary • • Public in and for said state,personally appeared 6etrAku ,.known or identified to me to be a.General Partner of the partnership of'flurger King Operating Limited Partnership, a Delaware limited partnership. end-the partner or one of the partners who subscribed said • partnership name to the foregoing instrument,and acknowledged to me that(s)he executed the same in said partnership name. • 7- O IN WITNESS WHEREOF,I have hereunto set my hand and afTuted my official seal the day and year in this certificate first above written. n Ira; gANLEY ! 9 Nstate PUBLIC print:3 a D S{Q I a state E a onaas4i NOTARY PUBLIC for — s t'! - - Residing at My commission expires: d/j8/5Cf 7 Op * U.S. Restaurant Properties Operating L.P., formerly known as • t7 O STATE OF CD )ss. q County of On this day of . 199 , before me. the undersigned.a Notary Public in and for said state,personally appeared ,known or identified to me to be the of Calny,Inc.,the corporation that executed the instrument or the person who executed the instrument on behalf of said corporation,and acknowledged to me that such corporation executed the same. IN WITNESS WHEREOF,I have hereunto set my hand and affixed my official seal the day and year in this certificate first above written. Print: NOTARY PUBLIC for Residing at My commission expires: I • SECOND AMENDMENT TO DECLARATION OF EASEMENTS - 13 mmser t:S.tl•t O3r9i95 ' � i el r':MI., .,�711:tic S • Irr111111 9 • 1111 ,siStronm STATE OF f r , t iss. County of On this`t day of ;hi t}( , 199 �,before me,the undersigned, a Notary • Public in and for said state,personalty appeared Sanford Me-kin.known or identified to me to be a General Partner of Sutherland Associates, a Connecticut limited partmership, doing business in the State of Washington as Sutherland Associates Limited Partnership, and the punier who subscribed his name to the foregoing instilment,and acknowledged to me that he executed the same in said partnership name. IN WITNESS WHEREOF,I have hereunto set my hand and affixed my official seal the day and year in this certificate fun above written. nq Print: 4 L Y NOTAR PUBLIC for J J tl ' Residing at fl i G r r i CL,i,c .. l�J My commission expires: ROBIN 0.JOHN3CN. NOTARY PL:E C • Ey 'AV M:WMi55r0N EXPIRES F .2 t,rai 1 0 C3 0' 11 • ` : IITIT: SECOND AMENDMENT TO DECLARATION OF EASEMENTS - 14 MMaC 125.114 0329/95 •/ .. 'r..—.ma _ • in • `-k '`JY:T .7..; �•� • W • • • • ALL-PURPOSE ACKNOWLEDGEMENT STATE OF CALIFORNIA ) CAPACITY CLAIMED BY SWIM )SS U �{ I COUNTY OF ORANGE ) Uau'(� On Anil Z9.096 berme me, BARBARA M.VRACIN [xi CORPORATE OFFICER(S) Date Notary PubEe Altristutt SecretaryMAIa Personally wand LAURENCE GERICH Nimal.f ot:isorGi U PARTNER(S) I NI Personally)tnotvm to me oR( 1 P> to en the bads of satisfactoryeYideoce toU ATPORNEY-IN-FACI. be the person(a)whose name(s)idaee sabscsibed to U TRUSTEE(S) the within(Mum=and acknowledged to me that U SUBSCRIBING WITNESS bdehdthey executed the lame in hidltcrftheir U GUARDIAN/CONSERVATOR authorized aapseity(ies) and that by his/her/their U OTTER aigaamro(a)on the ioatrameat the pason(s),or the entity upon behalf of which the person(s) scud, the Mu:unmet. • COW•967603g itaese my hand and official seal SIGNER IS REPRESENTING: '•``: Way fuse—Castrto C_ ItAmsopeassman lar87ritm1 �aAvCa QtP asCt 1 1M 1.1We��j . _ _ a/Idle a> CAINY.INC, =WATS=asaerAat' ATTENTION NOTARY:although ths iothnotdsa nquaad bile.it OP170NAL k meld psalm dot bvduket smtrhartt of this easidem.to amathoirad dmee m ims CERTIFICATE line or Type of Document 2nd Amendment to Dakatetioc of Emma*-TBIZIQB To ST It DA T ATTACHED Number of Pages IS Data of Document NZ9/96 • t DESCRIBED AT RMOHT: Sign a(a)other than named above •(dii NATIONAL.NOTARY ASSOCIATION-CIA Rome An..P.O.Yam 7la1-Canoga Put.CA 91304-111a • i • w 0 C7 d' tD I• • ;ti` I • • ianas S CONsEET OF LENDER THE UNDERSIGNED as Beneficiary under that certain Assignment of lease.Rents and Real Estate('Assignment')dated June 27, 1995 and recanted My 11.1995 as Instrument No. 9507110502 in the official records of King County,Washington,hereby consents to the Second Amendment to Declaration of Easements to which this Consent is attached and does hereby unconditionally subordinate the lien of said Assignment to the amended Declaration as further amended by said Second Amendment and to the easements created thereby. This Consent represents the complete agreement as to the subordination of the aforementioned Assignment to the amended Declaration and the easements created thereby, anything to the contrary in said Assignment notwithstanding. This Consent shall continue in full force and effect as to any renewal, extensions. replacements or advances under the aforementioned Assignment. This Consent shall be binding upon and inure to the benefit of the undersigned, the parties to the Second Amendment.and their successors and assigns. Cr] Comer ca Bank- Texas 4.0 Print: Slse Tide: At.V.P. Attest: • Print: i Title: Ace.O,4E}Gr/ 42•I1$.1114w.rm+otu (PLACE CORPORATE SEAL BELOW! I I . CONSENT OF LENDER•Page 1 ABS/353-Reawi,.Waahlmgron 111.1SC 125.11. 04,03.96 • • STATE OF TEXAS )ss. COUNTY OF Dallas ) On this 15th day of April , 1996,before me personally ap Sheri ... Olson , tome known to be the Assistant vice res. of the corporation that executed the within and foregoing instrument, and acknowledged the said instrument to be the free and voluntary act and deed of said corporation, for the uses and purposes therein mentioned, and on oath stated that he/she was authorized to execute said instrument and that the seal affixed is the corporate seal of said corporation. IN WITNESS WHEREOF,I have hereunto set my hand and affixed my official seal the day and year first above-written. • 1 � etrmxtasstaeaatS Todd Douglas Terwi ll iger Jimmy20• Notary Public in and for the State of Texas Residing at Commission Expires: O STATE OF TEXAS CD )ss. .7� COUNTY OF Dallas ) • • • • On this 15talay of April , 1g 96,before me personally appealed Sandy %t. w, t1;Jnm5 . to me known to be the Loan Document Office: of the .orporation that executed the within and foregoing instrument, and acknowledged the said instrument to be the free and voluntary act and deed of said corporation, for the uses and purposes therein mentioned, and on oath stated that helshe was authorized to execute said instrument and that the seal affixed is the corporate seal of said corporation. IN WITNESS WHEREOF,I have hereunto set my band and affixed my official seal the day and year fist above-written. I � m Prtnntt: Todd Douglas Terwilliger Ara 2CO3 Notary Public in and for the State of Texas • • Residing at Commission Expires: II • CONSENT OF LENDER•Page: , ABS/35)•Reason,We sl eagton • NINLIsC 12S.1I/ O4r05,96 I •'.t11 • M1�41 .•• i • • 1 1 ,,,�,ie w.we -.retie,i4II t seen CI�TIR • t sro.4 . y.e o e•� • :�.so� an o 8 t ; If 4 N. e f 1 140 ►0. ►•ir.- v�, sty '1 4. li r44:-.....„- . ...., N. . ) 1 i Flikres,7-_, No4:11154106.. N.,, o I tr I 11111111 11111111 kill . 0 * 4.4 Cr) 1 . s„ON h.. _IN,. :Iredr .nb, •tt., 44..ei 141.ft. oc: - , -.40—.--* jC1 , 1��'}r.eJ .a..I ------ �.. �� bL9a �.n 1 Y� vA ' 1 \ M.r z3'aY • ,: `I M47C \�- 1 �1\r'�' � 'SOD 1 MI.r I \ ` U■O Mi. a u.aq se•rt h�l \\ �u«- .�., tr .e' EXHIAIT A 't �� Declaration o asements - Renton 4.:)64p.w. N. Y a ttO am ■ • CENTRAL HIGHLANDS PLAZA = y o . al'asrri+Sl:!Oa „I-Pet S. 1 ll B e l l i ,e . ' i 1' rt msTfiuNEMT, made ihitil ,diy of ,", ,„A„6}15.&1 ,1 by and brttween�;_li. _L.t►vahiat,y *nd ,,, ;Qy � a � rcx-�te r= . ► J a i 1 • .ri hereinafter called "Granter(a)," and the CITY Or RtNTON, a Menlcipal Corporation of •� icing County. Weahington, hereinafter tilted "Grantee*" .) WITN M$iilN: g That said Grantor(*), for and in cunalderetlon of the Sums of $, nran And , ;:,, nthtr "pop4ia • n aid by Grantee, and other valuabl ve"sides on(`?r :, . • by• thillll presents,era , ergaiel SOli, convoy* and wirrent unto the Said Grantee, 1 it* successors and_assigns, an easement for public utilities (including water and ' . t N sewer) with nacestaiy appurtenances ewer, through, at upon roaa and the following _ '' � describedllow property in 'King County, Washington, more particularly described as • • . ; * , STORM SLUM I;AS'lc_ I • .i ` '' A tact of land 29 feet in width over and acroen tracts B and 9 of Joseph P. Marshall.. 1., 'tracts es recorded in Vnla +s 3$ of Plats, Palo 30, itacorda of King ()Reny, Washington, ; • : 10 feet of such width being on each side of the following described center Itne°. Coe . • • wanting at the iotereectlon of the South merlin of N.b, Sunset Boulevard (SteteARoed 00I ) with the East line of M*cortise Avenue N.E.; thence South i4111'47" West along said Vest a E line a diatomof 404.Sb feet to the true,point of beginning of said center line; thence . North 6302B'I4" East a dinette° of 716.1$d feet.gore or lens to a point on the West line of Paull Avenue N.E. (formerly 130th Avenue 11.11.1 .end terminus of Raid center line, the - Northerly and Southerly lines of said lu foot Tract of land to be lengthened or Shortened to intersect on the Test and West lines of Macortes Avenue N.E. and Duvall Avenue N.II. . . • ! A tract of land 10 foot in width over end *cross Trott 9 of said Joseph P. Marshall's �! Tracts, feet of such width being on each side'of the following described center linel • commencing at the Intersection of the Peet link of Anacorten Avenue N.E. with the South '' morgin of N. E. Sunset Boulevard N.13. (State Road 900); thence North Imo5e'IJ" past clone . said South eargin a distance of 140.00 feet to the true point of beginning of said center • • ' line; thence South 1S42143'a Lest a distance of 18244 feet more or leas to the center lino of the above described 20 foot tract of lend, except the Southerly 10 fent thereof contained . . in said 20 tit tract. jl 1)(;►t.la'.'!t.;.:. t ` . :f4..r. ' ha i;+ h . ` , ;• 'usi Together with a temporary construction easement described as: . i • Said temporary construction easement shall twain in force during construe- ,: tion and until such time es the utilities end appurtenances have been accepted ` . for the operation aoi maintenance by the Grantee tot not later than December 31, .* limn eexpiration of the 1;.emporer, eonntruction easement, Grantee . • agrees' that in connection with maintenance, repair, replacement or other activities relating to the otilitiee to he constructed end maintained • within the utilitl easement, that Grantee shall perform such aetivitimhe in an expeditoue end prompt marmot no as hot to nnrn,er*onahly interfere . with the use of the auvfec , rights over and morose the emamment 1h? • grantor resat.1ta lemma, invitee*, Mem',ern of the public and MUe;C*MAore • in interest* r:rentee0 further sum* in connection with any activities r'e►letino to t'ss speoement to tar lair mod replace mil end all surface . impIoveeremnta in the same condition winner on mad sae they wort prior,to the , timeGrantee undertook such activities. ".... " ' J, y . 1 , Said heretofore mentioned grantee, itceuccessors or actions, shill have • the right, without prior notice or proceeding at,.law, at such times es hey be necessary to enter'aion said ebo described praerty for, the purpose of ceenstructo ing, Maintaining, repairing, altering or reconstructing said roadway And utititiest or making any connections therewith, without incurring any legal obligations or liability therefore, provided, that suc .:tonstruction, maintaining, repairing, altering or reconstruction of said roadway and utilities shall be accomplished in such a msnnor that the private. lnproveuents e►xistin in ;the right(s)Qobwa1 shall , ; . not be disturbed. or damaged, they will be replaced in AS good a condition as they;, sew tetersdlateiy before the property was entered upon by" thw Grinteir, '' t The Grantor shall folly use and enjoy the eforedescribed preeeatsea, including • the right to Mein the right to use the surface of said right.of*way if such use E ` ' .does,not interfere with installation end maintenance of the roadway or utilities. ,. However, the grantor shalt not erect buildings or structures over, under or across" the right4fway during the existence Of such roadway and utilities. t This easement, shall bee covenant running with the land end shall be bind» ing on the Grantor, his successors, heirs and assigns. Awentors covenant that; they art the lawful owners of the above properties end that they have a good and lawful right p *cuts this egr+ee►eent. . i +.4 . cIt'xiikertior404fr" ' ;... ten_. •.?and --► Tt •,;a Ilan C1�{ " " 1,1 .._.::uu;,tt..:.-1'C.ur:7' :i'.4:'�.S :vZ=aC'.`tt:`rJa.. send p CJ%..�==:.)�:tR:A:'.�L^...':.=-„.2'�'G::Y.]'^ws..-.L.3".7.w..wy.., . ,.4._.:..._�-,..�, �.�— - .__W ... _._K and STATE OF NASHINOTGM • ) COUNTY gF KING 3 SS • ' • .i 1, the undersigned, 4 notary public in and for the State of Washington, hereby A certify that on this day of _Nosw0$ ,.,�- 107 personslly appeared • before me. C. O. Loveless end oen H. I. veleso m and and .R..� .��: ;� ► .. :max,. .,_._. ---- �_�.._�� , ,,, and �~'` ""':_ — ter wlinoniTo e�'i'ediiinfuM r �r• d in a'n' rd'e itO A iigg-Theiiuec nt, and acknowledged that ,.. tr.1t sighed and sealed the same as �fr a and v-luntery act and deed for the sirs • and purposes therein menttonld. 8 .y . ' ,. • Y a II * N 1n p9 U. . .Y' • Aor°ry i nand eno"rwr1 Th . r Washington, residing et ,,;,,, -_� _,... • }i • - e:.. t„^.6Psg'a a.,n 'y- .. n r,!oXtx�C�s`�=Yr^:'- r e• • R • • ,j . ' 1 Wilt a Hi'!Y 07.10ii.'i�itt 1 e�f �"D11 .71�Av.t.,e. . . ,re,.d, , • ` 6 THIS. INSTiUfENT, matt thisl dey of, ttc►vMI 1lL1 <:! : ' by.and bitt101101 —�l,1 :Y ..wand 1. litl, ; R -- _ _.� and __..�. _ _.lndn.�-. i 9i hereinafter called "Grantor(a)," Ind the CITY Or AENTON, a-Municipal Corporation of .. king Gounty,.iiefhington, hereinafter Called "Grantee." ti tfITNESSETN: • . That said Grantorts'-, for and in .consideration of the sum of $ nn n4 or or .vrai at. sp. ., ntf�„yaid by Rrentoe, and-other Vatuebh cons. a Ton," o ells Prelims,grairesin, "10114 convey and warrant unto the:said-Grantee, . . its -successors end-as=igns, an easement for poblfe utilities (including water-and sorter with necessary-appurtenances- over, -through, across and upon the: following . described property 1n King County, Neshinglon, more particularly described- as follows: {{ (- A trait of land 15 foot in Width over and nouns trnttn 8 and H of the Joseph P. I4erahall 3 roc to an recorded' to Golumo 30-of riots. rage ;'ill. 'AecOrds of Sing;County, lereshLngton,- ':1 7.3 feet of exalt width,being.on oath aisle oP•tho following described'tenter.fine: •t;oe-: . manctog at the-intersection of the South line of 7'ratt9 e:And ft of Held Plot-with the West linear Duvall Avenue.F1.fa. tforPleriy 118th Avenge r1.t:.), the t° Nora-•3010":17" rent *long :Isaid Kent line a distance of 117... feet to the true point of beginning of sold.l:enter line; ` thence North-8601015h" Nest pa talittl with the'Vout'h lino of. Cold tracts 8 end--o a distance of 193.11 feet 'to u -point'deslgnaated 111" for future reference; thenee continuing North Rn038t6511'heist a distance of 113.04 feet to u point designated "Y" for future reference; , thence Continuing North 811018155" Nast a distance of 111.00 feet to-a point designated "y," for fixture reference; thence-Continuing North 88038155" Nest a distance of 1ao.o5.-feet e19De f ' f or lens to the rim lino of Anatortes Avenue N.e. and terminus of-sold Centerline. t Also u 1G :foot in width tract of land 7.h feet on each side of the--following described cen4 1 ,, t±iir line: beginning et-point "x" in ebeve-.denerilted center line thence North 1041105" Fist t a distance of 78.0'feet more or lutes 1t0 the South line-of a building-to he -Conestrueted in the feature, and terminus of said center line description; except the South 7.11 feet thereof. Also a lrr foot to width erect of-land, 7.5 foot on each side of the :faallowln>i:'doscrilaed teas+ teelt.ne: Beginning.At point "Y" in shove->dnicrlbed center line; thence-North. Past a dtntance of t18.5 feet Marc or lose to the'South line-of a building to he conetructod In i the future, and totalnue of held center line dencriptlon, except the South ?.i Peet thereof.q Aisles a.lea feat 1n width tract of Send 'l.fi feet on'Cattle etde of the following descrli ed cons ter-liner aexinniag.at.point "Z" in-ebevemdescribed center line; thence North t"Arils" best a distance-of 54:.5 feet Core'or toss to the South line of a hutlding to.he-.constructed in -the future, anti tomato of said.center line description, except the youth 74 feet thereof. - Together with a tenporary construction Casement described' es: Said temporary.conitructlen eilement shill remain in force during construe* lien and-until such—time as the utilities and appurtenances hive been accepted fat the Operation end.aa�intenance by the Grantee but not later then ecember,1l,t • .ems to;lcae's ukl.irat tan of tine, .toop©rar'j constt;rootion eananeur.,' r:annotate' aierueai that in r0nneohinn with.neintenenne, repair, rel,larenent or other activities relating to the titililria+s; to he ?nnetletlrtetl and mainteine.l within the.nti`-it7 easetnont, -that Grantee shall perform eu'!t1 'activities. - in an aetxpe41 time ow liroript.-rlannsr net' en not to aenri.anonai.ly interiorae with the one Or the surface riathtat over awl meroatn .the eswo nettfs a.;, a4entur an4 Ito league, invitees, northers ot the public andarticosnsnra ° in interest. aot'ent*e forther at;teas in connection •ritta any ar:ttvitiise relating to the easyemant to-.matt, and e replace env and all surface- , in the sane condition end' Kanner an they Were prior to the . time -Orontes 'undertoon soon apt Zvi t ssee. Page 1 of 2 Requested By:susan.switzer,Printed:3/16/2018 6:49 AM Doc:WAKING:PREC 19771116 00659-53033 • . r • • Saii•'heratofore mentioned. grantee, its successors 'or aseigns, shah' have •' the right,•without prior notice or. proceeding at law, at such times. as ley be • necessary to enter upon said Above dnscribed property for the.purpoie-of constructs • Mg,„maintaining, reirairinq, altering'or reconstructing:said rotdvaY and:utilities, or making any connections therewith, without• incurring any legal obligetions.or liability therefore, provided, that such-construction, maintaining, ripair.ing, at altering or reconstruction of said roation.and utilities shall be .accomplished in • ,Such.a manner 'that the privets inpravnerents (+Kisting in the right{a}eofaway shall not be: disturbed.or tistaegad, they will be rp'lired.in as good a condition ee they were iernedietely before the property was entered upon by the Grantee. • i rd 'the Grantor shall fully use and enjoy the aforrdeccribed premises including S the :right to retain the right to-use the.surface of said right.ofaway if•such •use *Hai vverr. tie orattorishalt.installation: And -or structures ov rr,,yr, Under or across the the right.of-way during the existence of such roeirey and utilities. . ` , Tide:easement, shall be a covenant running with the land and Shall be bind? ' ing.an the Grantor, 'his successors, heirs and:assigns. Grantors covenant that they . are the lawful mien Of the above-properties and that they have a good and lawful rg ug a ; l • r s•z.nt. .. b41 s P11 " 11 � Y a and ,,xj�. ..�.. - ;rs: u'1711 �Ei�NYb�t7lltl• -e:..msaa:ur4'.a''3=•>rm. •.[ �..�..- - -X—-... .t t' «. rarm.__,>and ; -.a,._.._,,...:. fl+:•,r -r�z m�-�: =:--soh=tss¢aa .d aa..sa._.L'•T.`�.._.�rtww xre's�;...r1s••t.g•rc.t=.-.5.-..K+r:Z>and ..7't.S'.xwn++..r:...�.�r2:74.r_ 1632c•a:aZ.-r,rt,r___ .. STATE OF WASU*NGTON } ,` COINITY OF'stNa 3 9S - 1, the undersi'gned, a notary public in and- for the State of Washington, hereby F. , . Certify that on this- dhy of Agitt?aksr :,,__�_1g7y. persOnall,y appeared • before el c. l. Levi can end,.loorr ti. 4ovaiesst , and. • • ` '. • - s �• ^'��...,_...� ."�-r-T __Xf=.- =.c-xFs. arc• =— �s-e� :::-.v�v�.=+r�rra , • and,,,, ... , ,r �_�= .., ' ' and ilo to TM' 10 ma..ura rri-Fo e Iidi'wli(u+rTriri sa:r 'd 4 ' in: sn la •di ester `iNigiO fin=trumane. and a i nowt.dged that. Xs signed and sealed the lame as. free and volurssry act and deetl'for tlij uses i an+R'purposes therein'mentioned. :� .a . r - •r . i0 • 1; ;, •s• dr 1J p.• `Ad.,, .4 41 'jrt� , . + •4+d•. . s lc R'ul r 1ir iV lfl 9 TOr w fi to fi Q ' e Washington, residing.at • •, •7 E. . : i . Page 2 of 2 Requested By:susan.switzer,Printed:3/16/2018 6:49 AM Doc:WAKING:PREC 19771116 00659-53033 r!..:7.2-,.'.•:,-.'..:..4:',,,c7.5.:.-:---4'...;;.:,..,'.;;j7i.'3::.':.. ..::-..;:7;•..--7;:::. ''' -•..."•:;•:'....-:-.:.'t, -..':..", ..'•':, 7::. ''''F'' • ''.:•• 1''".--. :''.?•:'l'''':.`,.''' '.:1-;•; .''-';7''`'';; :: '•"-'''; '-''''''''''2' ';1'''.. ;,' ' • ;7''''' •,:-:.;.::, '...---..:••;.--., •=,•:',!7----:," -7.2••,.;•7•7.:7,;.:,:•=,•;•,,,4••2.4,:s.‘:-.„,•;.4:.:,;.--,•Fi,,•47••:.:u,-,,-,-;:•. .,.,.'..•,-;.”.'.,.,.-:..r,..-•.,•,-,:l.r..--•:::-;*:,.-..-..... .:•..,..44:.•:%.,:;. •:•••,--,:;.. ,....,:,.:::..1:..0..,.,:',„-,-:: ,•.:..--.- .... I,,, .1':•••• :...:•••.'.:-..'k::1 / ,. ..., ::.;.:,- , -..•-• . ---..------.'...- . . ' ^ -V r......... ... . ,... „ • . [-... ': 7 . .=N.. ti :!?......-:. •;:• ,.. .. . r.-... ' . .. . . . . , .EASEMENT FOR UNDERGROUND ELECTRIC SYSTEM - . ..• - . . . . . 1 .. . . . . . . . ,• :- . ,•::zi .:' - C. E-, LOVELESS and JOAN E„ LOVELESS, his wife; RUSSELL COLLINS and I VA M. COLLINS, his wife, .• , :7.,- 7.. !;:'• ';' 4.. '.:''. ; '• KOHL EXCAVATING INC., a Washington corporation, ALICE L. KYLE, formerly Al ice L. Taylor, ''' •77,;••":: 7.' •-•r• 1. = as her Separate,is tate; and WELLS FARGO REALTY ADVISORS INC., a California corporation,• , :, ....".7-' .. . . .•„. • . •=' , . =. :,:t, . • "("Grantor"herein),giants conveys and warrants to PUGET SOUND POWER a.LIGHT COMPANY,a Washington ear- 1 '".:•.'"' '1'': - '•' ; peratict("Grantee herein),for the purposes hereinafter set forth a perpetual easement under across and over the,fol. • i: ...7,•.:-.;•,.;•••: -; ,,k a lowing described real property(the"Pitperty".heroin) K i 'a County.Washington• . . . . ,• ' 7 . . . .• "-• '' ' 7:0'••• -$ .CY) Tracts 8 and 9, Joseph P. Marshall Tracts, according to plat recorded . --• • 7 ', • • • . ,. . .. • .• • . ::,J7::.:-, fY::::•"•:'.;,'..:.•• : - 'r....° :. in Volume-,38 of•Plats, page 30, in,King County, Washington; EXCEPT . • • -.••: ...s• •• •''''''':-''''-1'.:;' - (Z)••' • portionsthose-; thereof 'condemned for.roads under King County Superior ..--::.••'••:,;4;'7,-,•,-.,..-e,.: '?,‘ CO • ' 1 cotir t Cause Nos, 701162, 741907 and 742207; EXCEPT the south 1 30 feet 1'7'7 ' Q.' thereof? and'EXCEPT'the west 10 'feet thereof conveyed to.the City of . ' ::;•';;••••'''''...•t '.'.•:,'....-.:•: = K•44.''''''':'''':'."'"- ' • : . , Renton by'deed recorded-under•King County R.ed0r.ii tng Number 770210678. ,• • . . . . • ''.•:: 7::::.ii.•-•,..-,-:,. ,•,. • All located •i in the Southwest I/4 of Sect ion 3, Township 23 North,• Range I ; , •• • • • ., • .• . , „ 5 East, WM, .,.. • .• ' . . . ,-: • .. . • •. ... - .• .. . • , , • -7 •. 1:',....;;•:".?".•:7.=,'..1•'::'-. . : •s.,i/" r" . . . V.':'-,. ., '=:',:i.:::::'71,• . '' EitentOit ma/be Otherwise set(emit herein Grantee's rights shall be exercised upon that portion of the Property(the"Right- . t','7:•'.17'.7'::::...•-• :,••'t".1'v ef*aY!'` ereiniideieribed as follows. • • • . „ • 0 ::::/,)-:'2":.'," L.'7 '•, -y.-. -•;.:,', _zVEt)ifs,._•,,•• r.4.•' . lectlezelddritaelitt illiGniaEiatiiiiiiaifiFeWailiii.; - 4 .;. . • : €.;;..,,..' .,,....:,-,.;ii. :•,. . . r.::',,.2.:...,.,'..t4„,t., . • . .. . • . $:..','••":1';::.,..:,'.27.,..1.!,:••.' ., ,;,.., , _>. 1.;,j...‘ •,- ..- • . • ... _. .. Vi.ii;.:;•'''''' , . -4.-.:atip.,wq-t,,..ig.feet of the above described Property,. • . •'. . , , •,.,..•.,,.,,,.:::,....,,,,., -'1V.:': f.'..' ' ... .,.. ,,,:ifi,,r..., . . A • _ . 3 1,:':•,,,;,...::i,,!: „Tpt,psputhi,',fifteefi'feet. (15') '-'of•the above described property. :`';':..'4",:;•':±.:!...4';';1*.:;:i'?,.-.....'5 • n C.- '''-ree stripe of land'each'being seven (7) feet wide, 31s feet on each side i-,:•• 1,;::'="7:.•7?-'t- •,•); - " 'Of a centerline,:'running northerly,from the north line of Easement 13 as 7 • ' ri: •'''.,,C.::;`,'7*. -.• ; :,---1 V--..•::'..,-'•`"-7:--....',"x t,••••' ' : decribed.•above, and•terminating.51 feet more or less therefrom at:the• • ,,";, :,•: ''y-'',:,•1--.7 1!. - ' • • , • : •••• -, •, • t•,",„, ' •-,:,,•:'.•:,;,.? ,7•1 . buildings to be built; said strips to occur approximately as illustrated on . tio-,:;':. ..:,.•`;',,7:7:".:t 7:f ', ', ' attached EXhibit p„. The facilities to lie,within said'strips shall he l'.::7*:•,••.i:- .',..`.;'.''''',: 74 . ,• compatible with the original construction of capital improvements.- ' . ; ,7••:',.';f:-.'';. i . • . . is Purpose,Grantee shall have the right to construct operate maintain,repair replace and enlarge an underground electric convenient or ss ec transmission and/or distribution system-upon and under"the Right-of-Way together with all necessary - • '::- ..;do'•:•7'. ;;i,' L-,! • : :,..:'.., .7:.:=! ap- purtenances therefor,which may include but are pot limited to the fellowieg:underground conduits cables,communication . • •.:,,•„-.7.,,: .•• L.:-,• :: 7'• ,••:- -.•:., ' s littea;•Veult%Ceanholes.sWitches and transformers and semi buried or ground mounted facilities Following the initial con- :‘•",-i-.:-.--••:"-•-.-j i•-.• •.• ,•",7': 541(01(earntits*tidies.Grantee may froin.time to timecenstruct such additional facilities as it may require. ; 1'.: , '..:;„,'•''..::', .... . •:':-...,J',,,,i.!!.',,'/,;: 4 .• • • ,,:, -?..:•)21... atie‘all have the right to access to the Right-of-Way over and across the Properly to enable Grantee to exer- '-- • " ,--..'cise girighteglerktiSkr.provided.that Grantee shall compensate Grantor for any damage to the Property caused by the exer- 1 .: '1•• :'..(•; ; - -., ,1 • or.&said VA access ;. .:! i'.:•.•'''.' "- : .-'•': -.1. ..-.:. '-:i.‘"••:•:''01VU).•'„1.•4,F; • •=. . . :'..",....Ilithstructitoi.41.apdscaping.Grantee may from time to time remove trees,bushes,or other obstructions within the Right- 1••'..' ' : ,. .7.:. ' ., *.191y;fakl.'n#,\..leybl and grade the Right-of Way to the extent reasonably necessary to carry out the purposes set forth in paragraph 1•:hereot previded that following any such work,Grantee shall,to the extent reasonably practicable,restore the Riglitetfy,yitn'the condition it was immediately prior to such work renewing the installation of Grantee sunderground • • [Italia%Grantor may undertake any ordinary Improvements to the landscaping of the Right-of-Way,provided that no trees or other plants shall be placed thereon which would be unreasonably expensive or impractical for Grantee to remove and -restore. •' - : , . . . . . . r' • .-: 9 • : .. • r 4.Grantor's Use of Right•of-Way,Grantor reserves the right to use the Right-of-Way for any purpose not inconsistent with the rights herein granted.provided;that Grantor shall not construct or maintain any building or other structure on the Right- of-Way which Would interfere with the exercise of the rights herein granted;that no digging;tunneling or other form of con- .,,,• 5 .• ., k - struction activity shall be done on the Property'which would disturb the compaction or unearth Grantee's facilities on the 77.: . • .•: Right-of-Way.or endanger the lateral support to said facilities;and that no blasting shall be done within15 feet of the Right-of- ''. MI, '• .. 0 . - . f • , ,. • ' - - , i - . - ,,, :. •-• - I indemnity.It y accepting and recording this easement,Grantee ognekelo indemnify and hold-harmless Grantor from any - f• '-' ! - " ,;. • ' and all claims for damages suffered by any person which may be causedby Grantees exercise of the rights herein granted; 't • - 1 t, • • t - • - " .. • provided.,that Grantee shall not be responsible to Grantor for any damages resulting from injuries to any person caused by 1, 1 . • . • acts or omissions et Grantor, i . . , O.Abandonment The rights herein granted shall continuo until such time us Grantee ceases to use the Right4-Way for a'. . •. k ' : . period of flveletsOccessive years,in which event this easement shall terminate and fill rights hereunder shall revert to Gran- • • • k • 1 - tor,provided that no abandonment shall be deemed to have occurred by reason of Grantee's failure to Initially install its facilities on the Right-pi-Way within any period of time from the date hereof. . . . , , - • . : 7.Successors and Assigns.The rights and obligations of the parties shall insure to the benefit of and be binding upon their FILED FOR FaiCORD AT REQUEST OFnIX? • • .,. , respective successors and assign% EXCISE TAX NOT'REQUIREIP . R-,68S PL,..EIT Pi:./tJ VI • .SEAL ESTATC NVIS;014 King Co. Records Division ' ' .. • • , 72. es' / -/ . • PUGET POWEFt BLDG. •, , :BELLEVUE, WASHINGTON -98009 •,./.• lily...94:1:......... 4 'MO 1 De r . . .i.235/// . LI A.riTION: GiORGE LEETTaNTITHia ' " . •; . - . . • Cn....u.<�...a.......-e •tom ....C,ia.�.i+,v ..+...+..r..:+:at.....r..'.:' .nu�.a!¢^.-a..... DATED this day of• ivi.A - .1a 7� ?, _. 't`,,- WELLS FA •REALTY' A V SORS,• INC. .. . �'G • .. d..Jt o ,rC�ve ess 0 KOH 'E AVATING INC. • nt.'s it '4orttns _ Alice L. Kyle - f/ ,'.. :• TM STATE OF WASHINGrTON I -• • . ,4 . COUNTY OF/j. . , 1 • • r •Y • On this.da%•personally-appeared before me d: 1 �Z ea•a R-�-cP �C '•: ti, to a known to be the individual described in and whox' ', ',:.'' " ;'•'� ' ' .� a eimtedahe.wlthin and,foi•ebwiog instruments,and acknowledged that xF , signed the same as free and voluntary act,and deed for the uses and,purposes therein mentioned. •, 1'; v a P�i,1,ypwptr'my hand and official seal this./_day of •,ig 7� ; i:' , ' ur:. ` . Notary Public in an�for t State of Washin ton, .7 t�'1li' :. ...4 i residing at �J g r: c i Z"tDiit119 sy;o`4. j t : «e0rw� / • F -'4 - 'STATE OF WASHINGTON ) } . . • COUNTY O S .' • '^ - On this clay personally appeared-before me _ C��l/tir�/ice _ . ' P . .ram 1�': ,to me flown to be the bidividunt described in and who exet:ttted the within and foregoing instruments,and acknowledged that, k. $tgnesl the same'as 'a' free and voluntary act and deed for the uses and purposes therein mentioned. ProaW„tea.,. ' �� 787� r: Gf}�Bndeyiin�:hand and official seal tins day of p tq a • ff , . ' R 5 0''ti A^► 11- :';e •' • Notary Public in an f r t Slat of Washington, t;'': ?; • , 7.�;1�. +� � ,L10, e. ' residing at � 1.i,,.r i• i • STATE OF AL im ) • ' SS . " COUNTY OFLOS A ,ES; s' "{; Gary On this day of May . ' .10,y6—,before me,the undersigned,personally appeared • F'. Ka and Tan** K_ Pnhingptj' FF • . to me known to be the . Vice'President and Assistant Secretary ' ,respectively,of F " __ .,';;•.! :Iv: +4 ;., -..*. i,- the corporation that executed the foregoing instrument, i 'andaaknnwledged the said instrument to be the free and voluntary act and dead of said corporation,for the uses and purposes therein - mentioned,and on oath stated that fie/ authorized to execute the sold instrument end that the ;'' •' •'' seal affixed is.the corporate seal of said'corporation, }}! Witness my hand and official seal hereto affixed the day and year first above written. . • - .. . i . .• OFF►CtAL'SEAL Notory'Pub a in and ter the Stale of'California JQYC�A', REYNQLDS raatding at '11 r�achi t rm,.storti5 AAT' tmy, rA ., t �j NOT/aiY pv�itf0 OAtIFeaN1A 0 �, » ♦k,:F;, PRINOFAL OF1: . ., 1 FICE tN ) „ A:T , LOS.AhaELES COUNTY 1 ' ;,`.4 My CommlisIon Etiples November ll,1979 Ite7.77 -"••;;-•',''''':.-..--',:::::'„i'..s....,::: :3,. :•."••:,,t'".1:.':';',,:',...,. .:',i'..,',..,'W:...,-;•.:,e"'":' `,ili-0';:''.:::;;,.. ..-•••';,.:: ;•;•„:;':.,!,;...,..,:::':•,-..„.-....i:i•;,:,::•!,-..,.:47:31,...!,,t,':.,,:...71.'if-iY:'' '.. -•"7•,.. ;•::',';..',,;.',..Y.'',..;,,';:.;;;•.'F.;?..''''.! ....'.?-1',-,'.'"....'j::::"'"'' '..':,r!:.'.7-,f't, ''''' ''''..,:.'•:.: ' .:.":.•-'.. ,-.!:''''';''''>2'*:::''...:•:•• •,':,?:;'?;:•:'ii: ::-:,•: ';'...-,',':.; '1:,:•-'''',t;!.';''..', •,;':':;',.1:•' ;',...-",'''.f:,:". .:•-,-.:::,"!"';•7;'',--',':',.:::'''•;-:-;:.::::•,....4":".•-• •••• ,.•'..;'•.:•,:t:.: ':,;..:,!;; •••..., ,;::::e.-;•."...,, ...,.,- '.',.•:: ..,:.;:-..',;.-r:.,.;,;,,s,.. ...•''.''."'<.;" •':.'''.'''-‘ '',:..2:''..'' ',z'•'''''',;,,'', • -'."'N:''.1.-,:::,"7 '.;.r.I i.:". .•'-f'''''''::••'':1`..::!'''' :-.1';::2!,;',:.".,-.": ''''.?:; :;--7:::. ' ": ; ':....,',',1`.."..- ...', ::::''...:.::::.'..1''''..'''. '''.r :'::-: ',.f.ii!.:.7...' 7.:.7-: 7'..:' :' '.1,. 4 . e• ., . :301),NTY OF ' , . . .. . , •• - ' %...... ' , • „ „, 4. • 0.. % i'i On this day pereonady appeared before me (.24'-••e-42 C77° -5 "4----4-,.. ' . , , , .. to me known to be the individual_described in and who executed the within and foregoi e inetruments and acknowledged that i'...-•• signed tho SaM11 as -P-4}• free find taluntary act and deed for the uses and purposes therein mentioned. . . • •-t • . GIV,Foy,ikraWiNyrika. and official seal this...,..../.6_day of• • a . • • - •• - ,. - ,. -t.s. .....'.y A ' • .. ,•,. . • '..,•,.'' -, . • : , :I%. -,:..061 • ,e. l' . :C: • I.S. ..-6',1‘07r/AR),1,3,.;:r.A Notary Public its and f r I a Stat.of Washington, . . " • . s': ,i• :,' . , . ,„..,.,. -• i 0 c -p--'----‘c, int-in - .. "residing at ': '....::.:••=,')'t r::',, =, -' I.....,fr..- ,:--., : t 4,- ei RI •0.,,: . •:.ttf,,, n ...... . . . t'. .....;:, .;',..'.:'.' .r.', ••1•'', ". cs• :A • ' ; . ' t • s,"!;,•?Os ,..-• ‘, .."'vaiAtOs •. :::'• .;; . ;::,..'-'.0'•''.•,-', 0 '" • ' :-.••*-'..,`",-"''. 7.•:.. ‘..'. c\J • : — . . ' ,,,-...:-,-.;,..;-•••,:: •z; -: c0 • • . :.,, .,•3::''::•'.'::'•....,•::.,I ci STATE OF WASI-11NOTON JN COUNTY OF 74. - q , . . • . - . . : ' ' :. .: . ''. . . • ' ' • . , . . • . ,? • ,,,. . -..."..-•i?"... .it., . • " ' :::::-•••:,':::: . ; •, ' '.:.'..,-;,'rii)',:- f,;;''...:-1‘i •2..' '::-:': ••.:1" ../..,_) ,, . • . • • . . ; ",:-."-,:f•'.':...:::::,:i'Si ''.,•,. ' : ,.'.: On thie cli4•rterscinal y appeared before me ...Coriii.e_.d. .• - -/- -Al- __.Lia_.e.eif,eie-4:44..) r• '-:':''-':'' : ".',.:' ,:;.',,i M me known to be the individual_4;desori ad in and who executed the within and foregoing instruments and'acknowledged that - ' !t;',"-";',':,'„•':,.;..,'. signaijkie saint,as " . free and voluntary act and deed for the uses and purposes therein mentioned. • ',;,',.'.:-;.:',;•,".'4;•'. GIVEl$,Ii.ndistumajfi and official seal this..14L, -day of and '-,', ,-e)-L, ' , ,.-19-7 .. : ,.,..,,,.:•:•,., ,,c.1 so '''• .I', 'ir, .."-J.-f-.7,-,. ..: i,;;.•.,0- \ .15-.•':;:::,:•-":k'ff,s.,(!c;is. . .9..,4-...-71..S.Z. Q.) '' ' ,- •;;-'':',0:';•'"-!A;',',Fj.. VL-1 1; :'-'',..,1-•:.1.•:.',. ::"•: .-=.•'''S767fi'f)'";'''''r 1 . Notary Publi iti,i c2fe_rt.iie State of Weihington_i ,: . . ' . .. ;.,,:',`;'•'.22,-,1`.:',,, ..1. t:'-';''''4'.4.'7"."•:.; -;'. , :•*--,-k -''0 ,s• 1: : 1 t•-•4 A residing at t'o:t ....,::',••••• '1 " . :'''' " ..;'''''' ''' ' " .4•?74'...!:11, ',''.6)C%- :. . k;.-..,,'.:'';'....•.•':':, ":' . . •• • • • i.;;'-'.'7,••.,:'•"'.. ••;;.•• :::.:, • • . . ,,"-:'••• :;.• ..:, . , ,•; !',•;::-., ,:"..•'',:f... -.-': •': ' - • • : -.:.•• ' • - i•,;••:‘ ••••• !.'. • , 1 ••••::-.'.',,'.,"!".'•-••,. . :. ,:..••:...,,,,,, .., .- .7, •.-, • . . ., .'.,'';‘.::'•.''''''':•'•,..''...':. • .,., -,- • sT.A.Te$FtifoliINgTON 3 ' • • 1.„"•••••:7--.:,::..•:;,:?..".'::..''..•,•%.".,::':).`i,...,..4,"4 . Bs 1-, .. .•:., . ,..,:, • 4V)VIV.i0F44,i7F-Tf,'t; 1- . • ?. l• . ii 70 before me the undersigned.stensorta3l appeared ;.`„1.•:,.• 1 tnizio,7-•-•-{,ft/nVer '. • . . - • .- ".• • .02..hri(21407-444,s. Mt • 419$ , .• ,-, , , . y ,j •,•,,•,.;i: :,',-.).,:;. :- .. • . :, , I., .,• :.. 14,5f-**•4011r1.*tlanson , i '-.•:'••••.::::•.-•.:';':ii . . . . . , . $ 4/0Slie Sec retary-Treasurp r and _ , :..;;,...:.'i;ipectiVely,of •„ ,,' :..::,:',: A [ ' . .•-• " • 1:WWTATING, INO. the corporation that executed tbiri ar -tersku,kliglfriztrumtil,lt. '. ,:,....,, .-..1 4c44WYelzigd the said instrument to be the free and voluntary act and deed of said corporation,for the usiiiand!purposes therein *., li •';'..,:'::::,%,;;;.I 'I' 1 meniconed and on oath stated that authorized to execute the sald'irigpinbnt‘cci•jbaL the 'I '! •: , -.-, r , .. . : . seal affixed Is the corporate seal of said corporation. N • • ; - Witness my hand and official seal hereto affixed the day and year first above written, ',.. ./42 :'."!.. ..••• I.- • Notary Public in and f,rti..1,4_1 State of Washington. I . 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I - '.. ..„ . • -,.----——• —..-- ," 't• ' . ,. i . _ ......... i ,- ) k A A A •• A4 A• r 1 , 0' jc ‹.:-..---11 4,. 4 ' -.1 .l.;;;Is _ 1• • ./-../ `-. -4,.. .. ,, i . 1-7---"•-•if 5• 1 iao - ur . . • , • , . ,.'. •• k't S. .15' . , • E : .4-7A-4e/z5/r-' i 4 .• , . • ,• ... , ..‘ ...!...•; :.trAt':46 ii•-.4 rpf,4!;;:,'7, *.''' , ' ' . ' • • ''.... . ' ' . : . ... 1 . , t • '''.1.,:i,f010, ItYil?',1,i'..t.:43:4'11,./11.-;, :'';:;;;.::;'.•:i .1F,''i;::. ': ;:,.... '' : .•'';%' ::'.:'4.::. :* .. ..' , ' t, • ,r...444 4.•r.. ••• -.' , :. , F..,. .1 ...f , , . ,, ? . , • . • . ' . _ „ • I. . hl • I. • Yl, i F-•• ' . 4...t "..."i . • •• t - •3 • ';< • •- • • • ;t' .. •, • • ,3^,ig-' .' - ' cc.,'.if • • • n` •` e • � • • 4? ' v RECORDEp G • i`' e7 f?. r t.• • i "pi. yk, r 75Y-S. - -9 _e 3... y� .`J .Ns. ':4: F! rK^ 't+✓ ..`tom.. • ' PUGET EASEMENT FOR UNDERGROUND ELECTRIC SYSTEM `{ POWER a r C• . E. LOVELESS and JOAN E. LOVELESS, his wife; LLOYD W. POWELL; gw� 4 —Maiir, I • a.. ("Grantor"herein),grants.conveys and warrants to PUGET BOUND POWER&LIGHT COMPANY,a Washington cor- • (o poratlon("Grantee"herein),for the purposes hereinafter set f rlh a perpetual easement under,across and over the fol- I O lowing described real property(the"Property"herein) Kin County,Washington. 1 • o • (Legal Description Attached) • iLLr',:• '....;;!A:.(-:..••• ON In Section 3, Township 23 N, Range 5 EAST, W.M. , ..A • • 3j i ' Except es may be otherwise set forth herein Grantee's rights shell be exercised upon that portion of the Property(the"Right- ; �� • of Way"herein)described as follows: 't!'I;i'(4 A Right.of-Way O feet in width beving 5 fool of such width on each aide of o center- lino described as follows: ; 1'" The centerline of Grantee's facilities as constructed or to be • constructed, extended or relocated under, over and across the above • described property. / - 1%EXCISE T• AX NOT REQUIRED 'l''"" _ King , Records Division v i•; • Lr'�ly' -, Deputy ? i, • I.Purpose.Grantee shall have the right to construct,oPerate,maintain,repair,replace and enlarge an underground electric `;F transmission and/or distribution system upon and under the Right-of-Way together with en necessary or convenient up- ' ,I;',;:ties pertonences therefor,which may include but are not limited to the following:underground conduits,cables,communication >''! lines;vaults,manholes,switches,and transformers;and semi-burled or ground mo n ed facilities.Following the Initial con- j }'r� erection of its facilities,Grantee may from Ramie time construct each additional facilities as it may require. / ' • 2.Access.Grantee shall have the right of acme to the Right-of-Way over end across the Property to enable Grantee to exer- �;j�;: , dso Its rights hereunder.provided.that Grantee shall compensate Grantor for any damage to the Property caused by the exer- t g,�`. doe of said right of recess. • '''•ti .i ir 3.Obstructions;Landscaping.Grantee may from time to time remove trees,bushes,or other obstructions within the Right- t•-r:) • i of-Way and may level and grade the Right-of-Way to the extent reasonably necessary to carry out the purposes set forth In 1Y•i•, paragraph i hereof,provided,that following any such work,Grantee shall,to the extant reasonably practicable,restore the ri. Right-of-Way to the condlUon it was Immediate y prior to such work.Following the fnetnllalion of Grantee's underground ),•"%:•i; facilities,Grantor mayundertake anyordinaryImprovements Id the landscaping of the Right-of-Way,provided that no trees or i'(/..1 other plants shall b placed thereo which ould be unreasonably.expensive or impactical fr rantee to remove end - 1�'ta,. restore. I v tr.a 46 4.Grantor's Use of Right-of-Way.Grantor reserves the right to use the Right-of-Way for any purpasn not inconsistent with ;•',I• the rights herein granted,provided:that Grantor shall not construct or maintain any building or other structure on the Right- f• of-Way which would interfere with the exercise of the rights herein granted;that no digging,tunneling or other form of con- struction activity shall be done on the Properly which would disturb tile compaction or unearth Grantee's facilities on the L, • Right-of-Way,or endanger the lateral support to said facilities;end that no bleating shall be done within 15 feet of the Right-of- S j Way, -t,,, 'n • . 6.Indemnity.By accepting and recording this easement,Grantee agrees to indemnify and hold harmless Grantor from any ;;i1 and all cletme for injuries and/or damages suffered by any person which may be caused by the Grantee's exercise of the rights • ', herein granted:provided that Grantee shall not be responsible to Grantor for any injuries and/or damages to any person • Caused by acts or omissions of Grantor, • is 6.Abandonment.The rights herein granted shall continue until such time as Grantee ceases to use the Right-of-Way for a l,' • • period of five(5)successive years,in which event this easement shall terminate and all rights hereunder shell revert to Gran- - ' • i' ter,provided that no abandonment shall be deemed to have occurred by reason of Grantee's failure to Initially Install tie • • f facilities on the Right-of-Way within any period of time tram the date hereof, . f I 7.Successors and Aeefgns.The rights and obligations of the:parties shell inure to the benefit of and be binding upon their • respective successors and assigns. •"• R-1011 FILED FOR RECORD AT REQUEST OF: • I:., KJ/44 PUGET POWER - ' • 427768 • REAL ESTATE DIVISION > > PUOEf POWER BLDG. •" jll BELLEVUE,WASHINGTON 98009 • • - ATTENTION:GEORGE LEATKANTffHAM .:1.MAR G 1979 • :' . •• �, i . .. .•. .. _ _` .' • J DATED thta p2e day of , 19 �r`••'`i- 1 GRAN • d Gam. E. Love ass t1 a J E. Lo ss i tsr o ow H , 0 0 • By: o0 • a,. k O STATE OF WASHINGTON ) - %p':w; ;,i'{ .Q COUNTY OF Kingl • ' On this day porsgnnlly appeared before me C. E. and Joan E. Loveless • to n known to be the-individual 8 described in and who executed the within and foregoing Instrument,and acknowledged that _.• ey signed the same as their free and voluntary act and deed for thet uses,and' purposes therein mentioned. e'„ • GIVEN tiiidur•my hand and official seal thisa�•0 'day of w��,._,^p_-+�-�-yr 19 79 '' !�(fix a-.� C/.C. I • • „ Notary Public in and[or t State of Washington, Ji • residing al *--c-� ,:•)`;; • • STATE OF WASHINGTON ) • . ;. SS i '',G• COUNTY OF King 1 'On this day personally appeared before me Lloyd W. Powell ito me known to 6e'the individual_described in and who executed the within and foregoing instrument,and acknowledged that• .. 17 he signed the same as his free end voluntary act and deed for the uses and purposes therein mentioned. 1 GIVEN undty;mq hand and official seal this o1'O day of .19 79 li, 'r Notary Public in end fort State of Washington, ' `• residing al GP�u..e.... 1 STATE OF WASHINGTON ) . i SS ' ''lirktur • + COUNTY OF ) ,3. On this day personally appeared before me In me known to be the individual—described in and who executed the within and foregoing Instrument,end acknowledged that signed the same as free and voluntary act and deed far the uses and purposes therein mentioned. GIVEN under my hind andofficial seal this day of •19 • Notary Public in end for the State of Washington, ,t y • residing at i i , • 1 ' • STATE OF WASHINGTON I . i SS CORPORATE ACKNOWLEDGMENT COUNTY OF ) - , • On this_day of .19_,before me,the undersigned,personally appeared -� • Y 'i and 1 to me known to be the end ,respectively,of 1 the corporation that executed the foregoing instrument, t..ll and acknowledged the said instrument to be the free and voluntary act and deed of said corporation,far the uses and purposes therein "yi{ F.o mentioned,and an oath stated that authorized to execute the said instrument and that the seal affixed is the corporate seal of said corporation. -`' ' Witness my hand and official seal hereto affixed the day and year first above written. , • l • Notary Public in end for the State of Washington, ' S ' • residing al - • • ji , • • R61979' • �J t-'ASS*; _`rm • • .. .. • • • 1%! r,, _ .T rrt:i: ".{te: - 'i: ?2: y,,: 'la i F j;. r'er�1S•Via` � . i1 1, I ------------___ ___. . . . . . • . . . . . . . . . • . . . - . . , . . . • . . . . . . , . . . • .. . . . --1 • . . . . . . . . . . . • • . . . . • . . . - • • . . . . . • . . . • .. . . . • - - , • . . . . . . . • I • . '- .. ' :... •.. . . . . . , . . . • . . .. . • • . - • .. . ) 1 . . . . , . . • . , . . • • I. . , . . ., ..,,,,:,,,-g.4?- -•.--- '' "-• • • • . • •• - • • .• .." . . • • . , . . . . . . . . '; . ••• .. . ' . . . • . . , • .„ . • . , • . ..„ .. . , . ,... . • . . . .. . ..•, . ., , • •„ • . . . . . .. . . . .. . : • • • • • i i• - . . , . • . •.:. I . . .._ . i • . • . . . . . . . ' . . .. • .• .- . - . • •• , . . %. ., • . . .. . . . . . .--- • . . • . .. . . . . ,, . • . . .. . . . . . • . '.. 1 • . . . . , . . .. . . . , . , ... •• . • . ., •. . • . . . . . . • •, . . ! . . • . . . . . •. - • ... .. ., . . . • . . . • ' . .. . ... . . . . . . • . .., . . . .. . . . . . I . • . . . • . :. .".' ...,::7.'",:-.-;: I - . • ,,!.,,v.--;. i . , .. .. . . • • - . . • , . . , ' .. • . . . . . . .. • •'. '- . --••• • . .• . . , . ... , . , .. . .. ...: . • . , • , • . • A• •,' .--.-.—•.::,•4 i . . ... . .• . - . .. . :., . . . . .• . • , - .-, . • •. .• ,.• . . ••••,..,- 4,-- : - .. . . . • . . ' • • • . . . - ,h . . . . • . . . - . . . . . . . • . . - . . . • . ';' A , . . . . . . • . • .,...1 .._ • - .---------- • • . • . i,,, .. . .7 • • - . . • ,.... . ...// . / • . . 2 . ' • . , .... . ' . . .. ...'. ' • • .. • . • - . . • 1. - . ', ‘.7., 1•• .• • : . • . . .1 . t 1••i '1....! • . • J . • • •. • t / . . ••• :I,1- . t • . .:....t.•.4.••••‘",....71, •• . .•• .. • 1 • . : il :.1' ' . . PARCEL A ' • , • .,i• . , ... ,: ''..., .•• ' • % • -- . . That portion of Tract. JOSPEH P. MARSHALL TRACTS, according • '., ' I .'"• to Plat recorded in Volume 38 of Plats..page 30, records of King County, Washington, described as follows: • •Beginning at the intersection of the southeasterly line of - State Road 900 as established in King County Superior Court • . Cause No. 742207 with the west line, of the 7ast 30 feet of Tract 9 of said Plat; thence southerly along said west line SO feet. . - - ; • thence easterly parallel with the south line of said tract• • . .: i • 1. Rt. .. • t.. .,i' • • cp. . 165 fqet to 'ille-true point of beginning; thence continuo easterly. '. , - m . co to the masterly line of 138th Avenue S.E. as condemned in King . 1,. • a County Superior Court Cause No: 701162;. thenco northerly along ,'• . a • said westerly line to the southerly line of State. Road 900 as VI condemned in King County Superior Court Cause No. 741907; thence, Ft . a k' • westerly along the southerly line of said road to a l'ine.parallel, i • • , ,,,, With the west line of said Lot 8 which passes through the true , • '—'• ' . point of beginning; .thence southerly to, the true point of beg- inning • - _ i .• , •-• . . . . • .. ., . • ' ' i -14 j • • . • PARCEL B -.. . , • ' -I • : '1.' . . . • •,. . . . . . . . . ... • • ' .. " That portion of Tracts 8 and 9, JOSEPH P. MARSHALL TRACTS, • . . according to plat recorded in'Volume 38 of Plats, page 30, • •± . records of King County, Washington, described as follows:, •• • .• : ..s, . • . . - 1. ' ' - ,1 • L • Beginning at the interesection of the southeasterly line of • • --__ 1 1 . . -'. State Road 900 as established in King County Superior Court • . Cause No. 742207 with the west line of the east 30 feet of- ) . said Tract 9; thence southerly along said west line 50 feet; • i thence easterly parallel with the south line of said tracts • ,.. 165 feet: thence northerly parallel with the,west line of . •, • . ' • a 4140-ract 8 to'the southerly line of State' oad No. 900 • . . . . . • . • r.-- is_Condemned in-King County Superior Court Cause No. 741907: ' . . . , Wtha.n.c..e southwesterly along said southerly line to the point • • . m.. Ikuu? 6 1979 Inning.. .,..• :, . .. .. . . , • . • 1 . • • . , . • • • ,, '''''''''..• • . . • • or • P!'.7.1.'.'....! '• . . • . .. • .1 ,. , • • a . • . - • 111 .fa ,. • . .1,4. .e.ex, . . . . . . • . • . • . ' . . • ' aqi. '. • . .• . • . .. . .7. * • . .. „.., ma.' • , • . • • •t . . , • . .. , .. , .. • .:, . . • •. • . . . .. . • P . 4. .4;.;•"4rT.VTalei-*I.'4• ..g i •m1t .e, e.p.s'estoftWm.u,'a., tv .h M•-.d . - .. •.,.• •. . . • , . • rth . dW1umm41 'iaI...- -•• .. . . .. . . .. • • • • • • ;, ' .... i. . • i • • PARCEL A • - f That portion of Tract 8, JOSPEH P. 14ARSHHALL TRACTS, according • .i'- to Plat recorded in Volume 38 of Plats,. page 30, records of ---- . King County, Washington, described as fellows: - Beginning at the intersection of the southeasterly line of • State Road 900 as established in King County Superior Court . h� Cause No. 742207 with the west line. of the est 30 feet of 5• I. Tract 9•of said Plat; thence southerly along said west line 50 feet) f`s. thence easterly parallel with the south line of said tract. ,., • a 165'fget to the true point of beginning; thence continua easterly. ;`' ' ';7) C3 to the westerly line of 138th Avenue S.C. as condemned in King • County Superior Court Cause No. 701162;. thence northerly along '. j ".{ I. • O • said westerly line to the southerly lime of State. Road 900 as 1.;;�i CI condemned in King County Superior Court Cause No.. 741907; thence„ ^s • • 2 westerly along the southerly line of said road to a line•parallel • r- with the west line of said Lot 8 which passes through the true �• ,• •• j • 't point of beginning; thence southerly to therue point of beg- • Inning. �4 { PARCEL B 11• S ! 14 • That portion of Tracts 8 and 9, JOSEPH P. •NARS11ALL'TRACTS, i.`, . according to plat recorded in Volume 3a of Plats, •page 30, !'�•. records of King County, Washington. described as follows: 1..-. Beginning at the interesection of the southeasterly line of F r State Road 900 as established in King County Superior Court : - j • . Cause No. 742207 with the west line of the east 30 feet of.. •said Tract 9; thence southerly along said west line SO feet; '_`+ thence easterly parallel with the south line of said tracts •165 feet; thence northerly parallel with the west line of •. ' • 1 • said Tract 8 to the southerly line of State Road No. 900 i1„ :; ' as condemned in King County Superior Court Cause No. 741907: ':t • thence southwesterly along said southerly line to the point I' ;' r 'of beginning.. . : . . • ,^ '2.'''..i. 1 :1 , .: '. : . . '•• . • '11 sty . •• 1 Wal • . • • yt,til 1 c�eiinetaifnjurl�eaend%rdema8e�aeuf�feredbemen4Grentee 4Md granted:Provldad,that Grantee shah not be ire o }e to agrem G aro or n uaTi�d hold harmless Grantor f'° any caused by acts or omisalons of Cmnlor. be any to n�rles aj8e'e e T nd/ar demo of the tigh . �r' &Abend°"'nmt.7'ha rights hereto ggreanted aha4 to any paroon • ' ; Per[od of five f6)successive years,to which avant thta aetl°°e until such Ume ea Crantea ceases ro use the RI t-af_Way far a . tor,provided Chet no abandonment shell be sentent shall torminate and aU ri I facllitles on the B(ght jf-Way within any pa load ma{ed 10 have ocmured by reason of Grantee a fellum to Fnlyally!ns II ii , 1lat619A77n! rrh tlma freethe date hereof, etlghlsand abUgatlons of lhaipatgesehallroarsto;ne• FILED Cho benefit of and ha blinding upon their Pi7GEr R RECORD AT R+`CIUEST OF 4'2'77i68":'= ' REAL ESTA pq�ON i EWER e E«E.WASHINGTON 8 ATt8N1ION:G6pRGg I�niAbi 'f ' • " I/ - ET••••• • . . . • - • - •• .•-• • .• • . .„ • .... - -....:, -. •-.. ,, ,., . •. . .- .. . ,•-. . ,...; .. , ••:• :.,.....,...•.---.:. .'.-..,•.•...-..,.,-1.--•-•:-.-•...':Is.,..-'e';::.',;-:"-q.i-:,--;. .';';','-':-- ....4 , .. 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I/4„ SECTION 3, TOWNSHIP 23, NORTH, RANGE 5 EAST W.M:-'---:.----.--:-.--'''.::':'''::::','.7'''''''-' , • .... . . • .. ,..„ : . • : ••• - -- RENTON, KING COUNTY, WASHINGTON • --••-• :-....... -.•••• -:-:.:----:..L..,:-..'-:...••••••.:,........ .-......-_:..„ / ... . _-. . • 330-77 . . .. . .. .. .._.... ..7. .-.-: . : lucicip. MERIDIAN...: - .,...- fscALE r2.!cri • •• . . .. . .. . ' -... . . DESCRIPTION if•-4.aa• ..,..—-,6-...,—_ ..*4. . ----...—____X. 1 , ZOO.57'11^ i . " • o-.*.'. ' • TRACTS,J.P.NIAMTMALL Tema . 3.....ii, _____ I tgi.,,,„.. . . - - uu VAL.,-..-. AVE. N.E._____. .4 ;4' .. I . . . .:.. AGO:EDRA To RAT RECORDED . kl I.IS'31r 1E, 4 ba crt' • • • ' • Ill VOLUME SO,Ma&DO MON= ... .64• •' 4..451.0-75r—r 4. - ----4-- • ' op KIRG 02UHresUASHILlitc.A. . 1.1a.,.. '..,,p 4, • • • excaer TH4TPOrrical c4eLtayea . (P -R.0 - IOT.....1. • - • • To sau6CouHTY FOR Racto,REcogoeo c + 1...los.,74'. • . 114. ' i WIDER AUTHIVIrS Fill Ma calla So • 322.04, . AND ExcEPTDIAT PCIZII041.02,1DEASIED 2 • Ft.2W k . . ,... ROW no 5C.CRUSE Flog.747207, EL,- -(r) t . Et:3994a3.1.•26 lb .- Taii.07 am IONE2.11HD EiNcEpT ,..vo 7111 As .1.a . 1,75.0c .1! - -Till S00114 2OFEIT COMMIT:a in it?-:.A it: ,..:., • k../..) d N . . • ..0 . . THE CITY OP RENTOH Foe 5TEsAT 0 I! .1./ ' • A :Ori C) RECOUP/A colossi AERATORS VIM 110. 770920:418.4•ED Omar 7 PERCIION • .°121KP C 2 • . E CONEIRYOO To rim are or RENTON,eacceceo \ 1.—4.L-o 3 7 .o • umee Au:paces M .k,Fill. •7711140‘57. ...C.. Irp. • . : . • II ..._ C) . .- o In In A,A21 ••-`---',.7. A'.:tirl;=,'-'4,"g....,7..'?"-?;'',.-,c'T,'-'1.:',P.45 r.' Oa" 9 --T, . ..14,!...".....-. 2.-..-- • .1.I...se-s .'.-''..-.r.::',..',,..-'''''.-'•-:''''.--J.-• ', . - : ,. $ t 10.00 • • . S .• 1\‘11 . • . 2 . . la 10 9.. ii b 1.1..1 • •. 1-• \ . . . , ... _ . "W.199.D7'' -• - - -.. ---- •• .- - • . • . • • • , ,-- . ' • . . S.: V./4,ST Lia6 T -i' 8.....T liacc. • .. . .. ., • . Ei I*i4.Orre To.9.37' C . ' . • . .. . : . • CERTIFICATE . . • .... - . --:...-7::,-, ,i.•.;'.1.:.:...,--, -,,,".:',.., ..-.,:-....,-.-.. :. - . -,':.;_:.:„`:;t:'-'-'27,-:;f '1•'';';i't:;;.7Y-,.'i:.-i,:i'+:0-k''': :'"T'..--"-`1-.. -2 we HEREBY CERTIFY THAT WA.THE UNDERSIGNED.. AAR TUE ONNERIS/ IN FEE SIMP THE LAND HERESY PLATTED IN THIS SHORT-PEAT.-- „ . . 3. g .. '--• z-----'''.. ,‘,...„. . - • . . - • • - - - • SURVEYORS CERTIFICATE • . •• • - ... • : " " - - - , ....., _ . . .• . .. •• , . . . . - THIS AM CORRECTLY REPRESENTS A SURVEY MADE BY ME OR UDDER JoAR70-0010 . .• . ."1155".1 MY DIRECTION IN CONFORMANCE WITH THE REQUIREMENTS OF THE . APPROVALS . • - - ACKNOWLEDGEMENT . . SURVEY RECORDING ACT AT THE REQUEST OF 4.6-1,OMAAAWR 41.41WIC. EXAMINED AND APPROVED THIS /4 DAY OF ,r-,-.5 - A.D. 19ffs • . . • STATE OF WASHINGTON • .. ' ' . . • • •••• - • SS. ..i.' co -'-'-'17/C/„.A...,...,,..,.„,..„ ' . . • .• COUNTY OF KING . • ..: . • . ' ife... -.Aes4 44— - . .. . • DIRECTOR.DEPT. OF PUBLIC WORKS:••• THIS IS TO CERTIFY THAT ON THISIALDAY Of 4,-etioAer A.D.:'".."..',CERTIFICATE/10.5-052A . ,.. . ISZLBEFORE ME THE UNDERS/GRED•A ROTARY PURLIC. PERSONALLY : EVIRATION DATE.9-8-80 Iii:Atcole A EXAMINED AND APPROVED THIS DAY OF Fe..6. A.D.311.52 . RECORDING CERTIFICATE• APPEARED C. /ougiess V.To44 ,c7 Lov /P4's e - - • .. • . . .- - .. Or - : 2: • .. iiPo.. e... - .. :.• TO NE DRAM TO BE THE INDIVIDUALIS/1040 SIGNED TNE ABOVE • • '. - . . TRAFFIC ENGINEER .: • • - • CERTIFICATE AND ACKIWALEDGED TO NE THATTA,SIGNED THE . • • AS -71/Aii-• FREE PAD VOLUNTARY ACT MD DEED. ' ,.•.- • . . -FILED FOR RECORD THIS. DAY OF • •••• Am.-L - . •EXAMINED MID APPROVED THIS/9-DAY OF:F.A.T/4•- .4.0.'19,0 • - ',.. WITNESS MY HAND AND OFFICIAL SEAL THE DAY AM YEAR FOIST MOVE • . . . . • ',•••• WRITTEN. ,/,-4 • • •• ••'" • - 19_.At_ii... IN BOOK or SURVEYS ON FARE - ' '- '- - ' • . :• - .,;.,... ..:-. :,:...:'.:;7;::-.,',.::: .•.•:-.•• -i pm. cs :i.......:.-._-:::..,c1 •. ' : . AT THE REQUEST Of • • - • -• • .. . . _.. .... . .. . .. ... ' / & • . .. • - AND TIE.Cin OF RF.NON T . .•.- • . M =IRED APPROVED THIS • Y.OF- o 1980 ,:' - -:.;•.'..C..'' ''.' - - ' ' . itYA• • • . _ • - •-.:.:• . . . . •-•• ••' DOOM PUBLIft TT' 47srpr oy . • .: . • , . . . " •.....•••••-:•-•-A-,-.WASHINGTON RESIDING AT.44.W.G.... •• ' KAMER •" '- ' SUPERINTENDENT OF RECORDS DEPUTY COLINTY.ASSESSOR °! -.:KING touilrowsusdi,::- - -- • . . .. . .. .. . . .. • , • •,, • • :•.- •,,,,.... , ::-..,...„-,...,..::ft:: ,:As..iL --•:-...„.?-::•, .:-.„.•••:...i.•.,:k:•:•.,,,--...-..;.•::.-...,,,r.t..•.„..,•,..i:1•-...4,..,..:-„ks,z.•...,,-...,,....r.r....:•-..-: •,... .:..::.•••,...:: ,.. :.•:_•-•::.,,,-.......-..-..,,.....".,:„.-,,•-•...,...,, . ...........i...!.„:4-,....i...,..ii..'„..i9li=3-J.i.:„:..F.:: ::4.-•.•.:-..:,:.; '. .-i : • •': '... •• •-• • . , , ' , ' . _ . -. . ' • . . •.. . . . . . . . • . . . •. • ' "..- .. • • . -. • . • . .. .J.: . - .• . •. . . • - -i• . . . . - 1 • t140��YE n 1MS t43 S • . 85/1.2/03 #1455 B e�CQ c; RECG F 10.00 . I CI�1�`' ORENTON, WASHING'i 'H5L **:110.00 • • ' DS 3 3J E QItDTNKGE NO. 4025 .�1NE ds. 'y ' I • AN ORDINAN r �'onl'1�Y OF RENTON, WASHINGTON, ESTABLISHING A OSED ASSESSMENT DISTRICT FOR SANITARY SEWER SERVICE IN THE HONEYCREEK • INTERCEPTOR SERVICE AREA AND ESTABLISHING THE ' 1 AMOUNT OF THE CHARGE UPON CONNECTION TO THE 1 FACILITIES. • ! THE CITY COUNCIL OF THE CITY OF RENTON, WASHINGTON, DO 4 I ORDAIN AS FOLLOWS: . 1 . L i '0C' SECTION I: There is hereby created a sanitary sewer •• Cy service special assessment district for the Honeycreek Interceptor ! n ..1 area in the northeast quadrant of the City of Renton which area is . 1 t0 1 OD more particularly described as Follows: See Exhibit "A" attached hereto and made a part hereof as if fully set forth herein. A map of i the project area is attached as Exhibit "B" and made a part hereof as if fully set forth.) 1 SECTION II: Persons connecting to the sanitary sewer 1 facilities in this Special Assessment District which properties ,, ' have not been charged or assessed with the cost of the sanitary • sewer main, shall pay in addition to the payment of the connection i permit fee and in addition to the general facility and trunk +' connection charge, the following additional fees: i A. Area Charges (See Exhibit 'A' and 'B') Residence dwelling units, apartments i• or equivalents: - $250.00 per dwelling unit 1 Commercial Development: - 54 per square foot of • gross site area • j� B. Front Footage Charges: (See Exhibit 'C' and '0') ! • 1 There is hereby created a subdistrict within the Honeycreek Interceptor Special Assessment District consisting of properties fronting on Interceptor Sewer: , • 1 t,theundrslied, Maxine E. Motor dike) he ! City of Renton.Washington.cloliff hlk this Is a two . • . ' ; and correct copy of ordinan a No:.4d25 Subscribed and Seated this 2nd''djy pp �S� • • • FEED FOR RECORD AT t' i'R'E ;city 0terk MUN a RM. • • i _ _ _ • ORDINANCE NO. 4025 ' • The properties to be assessed for front footage ' are more particularly described in Exhibit °C" 1 attached hereto and made a part hereof as if • fully set forth. ' . ' The front footage charge shall be $37.19 per • frontage foot, representing $74.38 per center I • line foot divided equally for property fronting I• on each site of the center line foot. ' V) i SECTION III: This Ordinance is effective upon its passage, approval and thirty (30) days after publication. C2 PASSED BY THE CITY COUNCIL this 17th day of November, 1986. w Maxine E. Motor, City Clerk 1 APPROVED BY THE MAYOR this 17th day of November, 1986. I Barbara Y. Shinpo h, Mayor Approved as tO form: { Aa4/014,444farI414/44 ' Lawrence J. Warren, City Attorney ' ' Date of Publication: November 21, 1986 i I. f . • • • 1 - . •• i .. .. •. . EXHIBIT ,'A'AREA CHARGES ORDINANCE NO. 4025 A parcel of land situated in Sections 2, 3, 4. 9, 10 and 11 of Township 23 North • and Sections 33 and 34 of Township 24 North, all in Range 5 East, W.M., more • particularly described as follows: BEGINNING at a point on the North margin of N.E. 27th St., also known as S.E. 97th St. in said Section 4, distant 386.4 feet east of the West line of said Section 4; thence North parallel to said west line and its extension into said Section 33 to the Thread of May Creek; thence Easterly along the Thread of May Creek through said Sections 33. 34 and 3 to the West margin of 148th Ave. S.E.; thence South along said West margin to the North line of State Sign Route 900, also known as S.E. Renton Issaquah Road; thence Easterly along said road to the intersection of the East line of the West quarter of said Section 2; thence N South along said East line through Section 2 and said Section 11 to the South UD line of the North half of said Section 11; thence west along said South line at' through Section 11 to the center of said Section 10; thence continuing West • along said South line of the North half to the East margin of 138th Ave. S.E., • also known as Duvall Ave. N.E.; thence Northerly along said East margin to the C North line of the South quarter of the North half of said Section 10; thence cO West along said North line to the East margin of 132nd Ave. S.E., also known as • 0D Union Ave. N.E.; thence North along said East margin to the center line of S.E. 116th St.. also known as N.E. 10th St. and the Easterly extension of the South line of the Plat of Brentwood, Division 2, as recorded in Volume 72, page 46, records of King County, Wa.; thence West along said South line to the Southeast corner of Lot 16, Block 6 of said plat; thence Northerly along the East lines of Lots 16 through 11 inclusive to the South margin of N.E. 11th St.; thence Northwesterly to the Southeast corner of Lot 10 in Block 3 of said plat; thence Northerly along the East lines of Lot 10'through 1 inclusive and its extension to the North margin of N.E. 12th St., thence West along said North margin to the Southeast corner of the Plat of Bomarc as recorded in Volume 59, page 69, records of said county; thence North along the East line thereof to the North.; east corner of said plat; thence West along the North line thereof 157.71 feet to the Southeast corner of Queen Ave. right-of-way as described in Volume 3738 of Deeds on page 76, records of said county; thence continue West along said North line of said plat 170.0 feet; thence North parallel with the centerline of said Queen Ave. and its extension to the North margin of State Sign Route 900, • also known as N.E. Sunset Blvd.; thence Westerly along said North margin to the West line of the East 484.62 feet of the Southwest 1/4 of the Southeast 1/4 of said section 4; thence North along said West line to the South line of the Plat of Honey Creek Park as recorded in Volume 59 of Plats on page 57, records of said county; thence East along the South line thereof to the Southeast corner of Lot 9, in Block 2 of said plat; thence North and West along the East and North lines of Lot 9 to the right-of-way line of N.E. 17th P1.; thence Northeast and Northwest along the Southeast and Northeast margin of said N.E. 17th P1. to the Southeasterly corner of Lot 11, in Block 1 of said plat; thence Northeasterly along the Southeasterly line thereof to the Northeast corner of said Lot 11; thence Northwesterly along the Northeasterly lines of Lots 11 through 7 inclu- sive to the North line of said plat; thence West along the North line thereof to the Northwest corner of said plat; thence South along the West line thereof to the Southeast corner of the Northeast 1/4 of the Southwest 1/4 of said Section 4; thence West along the South line of said Northeast 1/4 of the Southwest 1/4, a distance of 320.12 feet; thence North 1307.0 feet to the North line of said • Southwest 1/4 distant 322.20 feet West of the Northeast corner thereof; thence West along the South line of the Southeast 1/4 of the Northwest 1/4 to the Southwest corner thereof; thence North along the West line of said subdivisic•n to the Northeast corner of the Plat of Aloha Ranch No. 2 as recorded in Volume 82, page 3. records of said county; thence West along the North line thereof to the Northeast corner of the Plat of Aloha Ranch as recorded in Volume 77, page 7. records of said county; thence West along the North line thereof to the Southerly extension of the East line of the Plat of Sandee Terrace as recorded in Volume 67, page 2, records of said county; thence North along said Southerly extension to the Southeast corner of said plat; thence continue North along the East line of said plat and the Northerly extension of said East line to the South margin of S.E. 97th St.. also known as N.E. 27th St.; thence Northeasterly to a point on the North margin of said street distant 386.4 feet East of the • West line of said Section 4 and POINT OF BEGINNING of this description. • L3-2850/X EXHIBIT • L _ _ . _.. , . r- I. • - , . .17' . , 1 . . EXHIBIT N " ORDINANCE NO. 4025 B . • . • . AREA CHARGES • . • . ,., • • • i i • I -7 '. 4 ...a. ,. ,.... ••r- ,• -'48',,, L.=:.a.t-Vi-,.;- ' •Jr•A\. 14 i -j-iiLWFIRy:4TGRA3?NDI .%SY irntii.BM 7':121=1 N 1,'.. •...-' ..,,,9 . VALVED :04ING COt.l 'i9LACKWELL 6 ,..'It._ ''''.US IsHOATAUTr.A" ,41:Trill ',AI 7r.s. 1 I._' e Berea-71., •1,,''•• ,i• 77V4.'...e.,.•.-'•..i.•,.L4,.4'2A.1.'i'4t2'.2:.144i1ii..•_u..1li,r r"-....Ir-tR.'I.,;..-,.8'.._...' .7-C . - 4 --4 - t p1 ivz'e, '......;? lOmwAiRND4'C• - • Ae7 d ATCNE _.4 _ 11 . 5„ 4i yA w HEADLEY ......-_ .... - i N L W HILL '\.,71041SGRE---'1-1 4, 1„,k. - •-"I ri. 1. PAL •,,,-. 4-C.4.:•, a3, . ;. ' 7 ,iliar.4 F iiills-n,, c›-tr .11111.1..1e\:"Wki4:5 W ..wig,,-m.4:0 zou •,,,.`"),:.1 ii•3:.,-•-.:1-,Fr-r".=.; • t :Tr ' tf..4:1A.nmA ,.iz,",,cii 4 '4-,--=‘,..:- 375 -.. i 1-1• . 1- -7: •ji. , . 1.- \ . 45,11f Al ' . STANLEY X\SLATER It i 1 . . 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TE:: . ,!',..W...A.sq."r"ceit7C4i2,72.1.4.. 7 -,t1-: H.r.F.!1111 liZii• 4..GLO011.° 6' ''' 1 1°I ".1153HZT f' C -777CAM°33'5 ,0,„, cmisa , A• ., , " ii; M2,1=1, ri.1 =7.:5rflykk:, ,:,,, ,, AREA CHARCsE JourLAs I ...:•• n 1 . 2'zi . • gA Lik 61=d - ,.t„ - iiii si; . .. .. •. aputioARY 1,17,,,7i i • 6—•: u • ' .•%. =..-7-11c" . re, 1 %v.?. . ... e 2.2 • A a - ,i MI Mil SO 01! i.ffiart4sri'; 7.il!"'I.' ': e, il -2•Val. I 'r..24r...,,i,..it :[-." 1" 11?. -r-j'" . NE. 4TH • ' ..; •:',' Z sr •, . r' , u .. ,lv '•.41.8 . 1:4!. .S.E. • $!•:-.4....,-, i ! . i . • . i . 1 . 1 . • . .I . . .. . . , • , . 1 i EXHIBIT • . , • .• X . • i . . ! ! . • -. 7.---7 i , ..•.•., • [ .rili • • EXHIBIT 'C' ORDINANCE NO. 4025 FRONT FOOTAGE CHARGES ! A parcel of land situated in Section 4, Township 23 North, Range 5 East, W.M., r more particularly described as follows; • BEGINNING at a point on the East margin of 120th,Pl. S.E. at the intersection of the Westerly extension of the South line of the Plat of Paradise Estates as recorded in Volume 95 of Plats on Page 93, records of King County, Washington; thence East along said Westerly extension and the South line thereof to a point 555.64 feet West of the East line of the Northwest quarter of said Section 4; thence South parallel to said East line 392.7 feet; thence East parallel to the South line of the Plat of Paradise Estates No. 2 as recorded in Volume 102 of Plats on Page 31, records of said County to the East Tine of said Northwest quarter; thence South along said East line to the center of said section; thence ! N East along the North line of the Northwest quarter of the Northwest quarter of Tr the Southeast quarter of said section to the Northeast corner of said sub- '4 division; thence South along the East line of said subdivision to the Southeast corner thereof; thence East along the North line of the Southeast quarter of the 04 Northwest quarter of the Southeast quarter of said section to the Northeast ri corner of said subdivision; thence South along the East line of said subdivision to the Southeast corner thereof; thence East along the North line of the South- east quarter of the Southeast quarter of said section to the East line of the i West 310.57 feet of said subdivision; thence South along said East line to the 1 North margin of State Sign Route 900, also known as N.E. Sunset Blvd.; thence • Westerly along said North margin to the West line of said subdivision; thence continuing Westerly along said North margin to the West line of the East 484.62 feet of the Southwest 1/4 of the Southeast 1/4 of said section 4; thence North along said West line to the South line of the Plat of Honey Creek Park as i recorded in Volume 59 of Plats on Page 57, records of said county; thence East ( along the South line thereof to the Southeast corner of Lot 9, in Block 2 of said plat; thence North and West along the East and North lines of Lot 9 to the right-of-way line of N.E. 17th P1.; thence Northeast and Northwest along the Southeast and Northeast margin of said N.E. 17th P1. to the Southeasterly corner . of Lot 11, in Block 1 of said plat; thence Northeasterly along the Southeasterly line thereof to the Northeast corner of said Lot 11; thence Northwesterly along the Northeasterly lines of Lots 11 through 7 inclusive to the North line of said plat; thence West along the North line thereof to the Northwest corner of said I plat; thence South along the West line thereof to the Southeast corner of the .j i Northeast 1/4 of the Southwest 1/4 of said Section 4; thence West along the t South line of said Northeast 1/4 of the Southwest 1/4, a distance of 320.12 i feet; thence North 1307.0 feet to the North line of said Southwest 1/4 distance 322.20 feet West of the Northeast corner thereof; thence West along the South • line of the East half of the Northwest quarter of said section to the Southwest corner thereof; thence North along the West line of said East half to the South • imargin of S.E. 97th St.. also known as N.E. 27th St.; thence Southeasterly along ' said margin to the intersection of the thread of Honey Creek, said intersection also being a point on the Southeasterly margin of 120th P1. S.E.; thence con- ; tinuing Easterly and Northerly along the Easterly margin of said 120th P1. S.E. . 1 to the intersection of the Westerly extension of the South line of said Plat of ! Paradise Estates and POINT OF BEGINNING of this description. . } I 7 i i . ! j I ! L4-86510 . , EXHIBIT • • i, .' ORDINANCE NO. 4025 j EXHIBIT 'O' j. • FRONT FOOTAGE CHARGES • • i 14 SEC.- )TWP. 23 N.IRGE 5 E..JW.M. • I 1 f-i CO 1 q AS l47 g 1 27TH S `:`E1 �OTCS >i�1 ti11 j a ,VANDEAMAY ALT 7o Ib i a . u., gi'' 4 a L 4- -%. ',-,-, -4-4-- iefittEm ! . i z n 7' ♦r -- r. . SI 100f 'w S1,J _- , .) f..1• FRONT FOOTA6IF ` ?�: °' %T' '• METCALF �_e: CHARGE BOUNDARY *‘,.'` �/". v' ' • �(-' C 1 - l _.•,B . I e �•4 woo V ' CI. . T 1.A 4 , , ,, on r ._ �, NC �� : .. .. 1y 31 N e : I: j 7tOTN 51 � N' i a. -11-artsi-4 4 1-41.-1 a . I . • : _ . 7i .,.! ' N Tomsk. . N5. i s,� r •Avw �r 1 • • 1 .� i fyfN R�' ■`p d • 1 • 1 W = W L L 11I I\•., i _ wr» $f_`� �I • I . i (7 N N �� 1 _ B�17 .. Q ♦� N[r1iS1N Si • •4i 1 1 • I" se, ys. WO E. _ 2THai i.. •3 ST• •, s - �'\ • OO[[in-_ r 1 1 N E Illy 4__, a',._ z �~. ' J • i - . • • • EXHIBIT . • u "i_VOnI110 +� 'aR-w —•VI . V �:� • aE. .T._ • .. gee,-� 1.n ..-,s;, f •, n ,..v.+se.+ nsr.-:•_., r J' . A t f ��aaaade a tit et11 r1 �.3RtYYl q ., .4t •,• s 40r4 4�'eryo'a'.,q ., -1.,ow ur 6.. 3I ADN -L L l.0 U U .:., — to g ' 1 THIS INSTfUl4EMY, same thiiriluiLdeY of 1/ i <, d by and betwirek .•_ , ...,and,-,„_.,dnun,�,�,Oi sel� t • } �,. and �� `; KinpiCounty,.Wuhingtans, hereinefttr the %Tanta., a Municipal Cbs oration of , s, NIYMESSETH: Thst said Grantor(s), for and in consideration of the sum of $ faxl nd • • Iet1 ar val it u vngl a nt�,,,,pafd by Grantee, and other valuable noel a'fin; ai • ''i • e e presen' s ngra�irgein, sells convoy, and warrant unto the said-Grantee* i '; its successors and assigns, en easement for puic utilities (including metered . sewer) kith necessary appurtenances over. through, across and-upon the following deter bed property in King-County. lisshinpton, more particularly described as , -fellow's; NAM WNit l:As ti1.H1' • A trart of land 15 foot in width over dad octane tract="8 and 9 of the Joseph P. Marshall 'tracts AS recorded in Voluleu 30 of flats, Pogo 3n. Words of King county, Washington. 9 7,5 feet of nut h width Winton each Bide of thu following described center lino: Os,, moving at the intOreet'tion of the tioiith tine. ofTrampifand U atf mod-Plot Plnt with the Blest n 1lnc ur Bevel Avenue N.B. efernet'1y 430th AvenueN.V.); shown Hoath iOip'.17" l:it alnnp will West line a distance of 137.5 feet to the true point of beginning of said Center line; thence North 65l"1n'55"Nest parallel with the''.,outh lino-of said tracts a AWN a distance et 193.11 feet to a point designated "7t" far futuru reference: thence continuing North M030165" West.a.distance of 113.0u1-feet to a point designated "Y" for future references r thence continuing North 10103a"r5" West a distance of 111.tlo feet to a point designated "2"- : faesr future referene.; thenre.centianeing North e8035'55" Kest a distance of 15D.a10 •feat-nore ^' :, -or less-to the.Peet Ilee of Anaeorte* Avenue H.E. end terminals of Bald center line. • Also a 19 foot in-width Uinta -land 7.'. foe-. an each- tide of the following described Can.. i .; stir"'lieges NNginntng at point ,•x'• in sbuve-dencrrhed center line thence North 10411050 Fast a distance of 74.0 feet -leers-or tees to the South line of a building to be constructed in , the mature, and tereunus of sold renter line description; except the South 7.5 feet thereof. Alau-4 IS font in width tract of land, 7,5 feet on each aide of the following described ten$ ' te"sline: Beginning at point "Y" in-ebovo'>dnaacribed center line; thence North 1e21'05" Past i ' a distance of 944 feet mere or less to the South line of a building too-he constructed in the future, and terminus of said-center line description, except the Uouth 7.6 feet thereof. . Ateo a 19 font in width tract-of land 7.5 feet on each side of the following described cop • t ter`iine: heginning at point "g'.' in above.described tenter line; thence North 10211115" West •• it distance of 54..5 feer mere or less to the South line of a building to be.constructed in the Allure, and terminus of acid-canter lino description, except the South 7.5 feet Charade. Together with a temporary construction easement descrtbed-as; Said temporary construction easement shall- remain In force during construe* lion and until such time as the utilities and appurtenance#.have been accepted • fill.122 the operation and Meintanance by the -Grantee but not liter then neceener uu1 1 pun 'inspiration of the temp ter r eonstruotion eanatnent, (Ironton, morons that in connection. with maintenance, repair, rolelarernont or otttes' acttivitiom relrt,inct .to the .otiiiti4•n to be c nwtrnetesti and neinteined within the nil lit" easement, that t;ranto n shall !forlorn n0"b eaartivitiaas in an empe,lit see anal prompt. manner no as not to unrrrssonatety interfere tith the one of .tee ;surface rilei,Ca4 over and aeries tiusr.eranaaneot teat 4:r''aant4,r and ito leaeagee, irivitohno, nemonors of the public anti s*('uennor'a in interest, Grantee further enrolee in commotion brine any ai;ttvitlaee rel.tino to tree eanetnent to moil, and replace env and all surfeit* setl,rovei9arate in the sane condition end manner as they were prior to the tins Grantee undertook euoh aettvi.tiee. r . • Page 1 of 2 Requested By:susan.switzer,Printed: 3/16/2018 6:49 AM Doc:WAKING:PREC 19771116 00659-53033 . ' • • w • • J firi.i� heretofore mentioned grantee, its successors by �itetprs, ship have ' = the rfght• without prior nottta 'or.proteedtnd et law, at such tunes is erly be necessary to enter upon said above des.Cribeet property for the.purpose of construct. log,_eaainteininp, r epbirtny, altering or reconstructing said roadway and utilities,. or making any connections therewith, without incurring any legal obligations or liability.therefore, provided, that such construction, maintaining, rspetring, altering or reconstruction of said roadway and utilities shall be accanpllshod in k Such a manner that the private. Ie roVnnents existing to the rfghtls}eofaway shall ' not he disturbed or dwelled* they will he replaced in as .good o condition es theey ware learediately before the property was entered upon by the Grantee. i The Grantor shalt fully use.and enjoy the aforedescrttied premises including the right to retain the right to use the surface of said right-of-way if such us does not interfere,with. Installation and maintenance of the roichieyr or utilities. However* the .grantor shall not erect buildings or structures over, under or across the right..of-way during the existence of such roadway and utilities. . This easement, shall .be a'covenant ronning with the land and shall he bind, , • Ingen the .i;rentar, his sucraesor$, heirs aaod assigns, grantors covenant that they . are the lawful owners of the above properties and that they hive 4 good and lawful .� • n g e moment. +�P �y � , i4 ':' _and G:` Y.r .n ..: . �s..:,w- i ( � iUVbbK ...,,..., :—...,,-- .,.y_ r tea,.Y -.zza.:=,anei„r am=,:,: :: -: .��r— -.. ... _.T.,.�._. M;.:• -...MR_ :�......=-._...�_-., ..:_,end _ ..�. ti { �. :� . o=Y -ram • STAY; OF NA$H*NGtpi COUNTY Of;DM 3 55 - . , i, the' undersigned, a notary public in and for the state of Washington, hereby • . certify that en this i�ro�,,,day of personally appeared before are C. il, Ave Lgv.Linm end loin E. 1li�cs end and ,=„,.- :—. , ....;, .l.- :.F^T _.;=1.;. :.:>,`1,t:�t.Z�-.._:,_-- anet der a •.ca:a f,'�.-«ra- w....a =aa s•. e.,:�r='.4,14—a-e. r_.gr._ a�rn-,rr —rear �mm*ems••ram-_ ' t+ u 1 lirs4:r d and " .,.._4 to if -6,,tn to'1 tadI• .fd a'l` aR in an° " +$lie''!`e r+igo'i'n beittrne"ant, .and arjtoowleidged that , ys ,___.. . -�,signed end Sealed the canoe as n,•shtsr_ „free and volurrory act and deal or tile uses r"' One purposes therein rsentioned. fJ r , w a �'" .. M•c-dY tF.. +i 1 rt:,. joj'�t. f1ULAt�'yW ,a ae 4 v. K. v Washington• residing at _.,,.. - • . • amenimmoii"opmmongi• Page 2 of 2 Requested By:susan.switzer,Printed:3/16/2018 6:49 AM Doc:•WAKING:PREC 19771116 00659�53033 176 76 CENTRAL HIGHLANDS PLAZA FILE NO. BSP-064-92 AN AMENDED BINDING SITE PLAN AMENDS BINDING SITE PLAN RECORDED IN VOLUME 141, PAGES 59 & 60 RECORDS OF KING COUNTY, WASHINGTON SECTION 3,TWP.23 N,ROE.5 E.,W.M. • CITY OF RENTON, KING COUNTY, WASHINGTON cORTmcan9N: 22W2MWMA, WE, THE UNDERSIGNED, OWNERS IN FEE SIMPLE OF THE LAND HEREIN THIS BINDING SITE PLAN IS MADE TO APPROVE LOTS 1, 2, 3, AND 4, AS DESCRIBED, MARE A SUBDIYISIOH GRAPHICALLY REPRESENTED BY THE SEPARATE LEGAL LOTS FOR THE PURPOSE OF LEASE, AND LOT•5, AS A ATTACHED BINDING SITE PLAN. SEPARATE LEGAL LOT FOR COMMON USE FOR ACCESS, UTILITIES,.LAND- • SCAPING, PARKING, AND OTHER USES RELATED TO USE OP THE SITE AS A SHOPPING CENTER. THIS BINDING SITE PLAN DOES SOT.AUTHORIZE THE .r.1.....T u,y„-• SALE OR OTHER TRANSFER OF FEE TITLE OWNERSHIP OP ANY LOT HEREIN BY: BY: DESCRIBED WHERE SUCH TRANSFER WOULD SEPARATE OWNERSHIP OF PEE A.L.WASHBURN TAHOE T.WASHBURN TITLE OP ANY LOT FROM THE OWNERSHIP OF FEE TITLE OF ANY OTHER LOT. STATE OF WASHINGTON) ) SS FOR SO IONG AS ANY OF THE BUILDINGS PRESENTLY LOCATED ON LOTS 1, COUNTY OF KING ) 2, 3 AND 4, ARE IN EXISTENCE, LOT 5 SHALL BE HELD, SOLD, AND CONVEYED SUBJECT TO (A) AN EASEMENT OVER, ALONG ACROSS AND THIS IS TO CERTIFY THAT ON THIS DAY OP THROUGH ALL OP LOT 5 FOR THE PURPOSES OP PARKING, UTILITIES, 199 , BEFORE ME PERSONALLY APPEARED A.L. WASHBURN AND TAHOE T. INGRESS AND EGRESS FOR TEE BENEFIT OF LOTS 1, 2, 3, AND 4, AND WASHBURN TO ME KNOWN TO BE THE INDIVIDUALS WHO EXECUTED THE (B) A RESTRICTION THAT NO BUILDING SHALL BE ERECTED ON LOT 5 FOREGOING INSTRUMENT AND ACKNOWLEDGED THE SAID INSTRUMENT TO BE WITHOUT AMENDMENT TO THIS BINDING SITE PLANNED (C) A RESTRICTION THE FREE AND VOLUNTARY ACT AND DEED OF SAID INDIVIDUALS FORTES THAT THE MISER AND COHFIGURATICN OF OFF STREET PARKING WILL BE USES AND PURPOSES THEREIN CONTAINED. MAINTAINED AS EXISTING AS OF THE DATE OF APPROVAL OP THIS BINDING SITE PLAN. WITNESS MY HAND AND OFFICIAL SEAL HERETO AFFIXED THE!WAND YEAR FIRST ABOVE WRITTEN. LL ' QY TA AI . NOTARY PUBLIC Ill R THE STATE -„`.. OPIWASHINGTON RESIDING 'AT DEPARTMENT OF ASSESSMENTS MY OOIMISSIOK EXPIRES ii I%i !SWISHED AND APPROVED THIS.PS.DAY OF APR:_ 199E. ' t.iC' • �.T-r A/bee.. ASSESSOR 46"6-ASSE SOR - . LAND SURVEYOR'S CERTIFICATE FINANCE DIRECTOR'S CCERTTIFTPATP: 0.••e•'.,� T THIS BINDING SITE PLAN CORRECTLY REPRESENTS A SURVEY MADE BY ME _ I HEREBY CERTIFY THAT ALL PROPERTY TAXES ARE PAID, THAT•)• �..�.�,- • OR UNDER MY DIRECTION IN CONFORMANCE WITH TEE REQUIREMENTS OF THE NO DELINQUENT SPECIAL ASSESSMENTS CERTIFIED TO THIS iTw1'/_E0. APPROPRIATE STATE AND COUNTY STATUTE AND ORDINANCE IN MIT} , COLLECTION. AND THAT ALL SPECIAL ASSESSMENTS, CERTI I 1995, DEDICA FOR ro T ON AND OP THEO PROPERTY HERE:' NT�AA,. !""_'^«'ram' OEDICETED AS STREETS,ALLEYS OR FOR OTHER PUBLIC U a LL� 1' I"�q� 1.7 / 6��y�\., FULL THIS QI'f�4y DAY OP I(V, , 19992. T f• • 52EVEN A. dIT No. 22]3] �/ "?; . 1 �•.C'�• SE 4L,•� 1 I OFFICE OF FINANCE: L y/(4221. �••«»~T.3A ING• r 51 F DIRECTOR,XING CO D> RNCIOR, SIN(J Y OFFICE OF FINANCE OFFICE OF FINANCE ,3 t l I%.95.,_,di DEVELOPMENT SERVICES DIVISION DIRECTOR: LE L� �• E%AN ED AND APPROVED THIS��DAY OF APB/4- . 199_(.: 1.,�,.9..T c 446.1.,..5, PARCEL A: LOT 1, CITY OF RENTON SHORT PLAT NO. 33O-T9. RECORDED UNDER RECORDING NO. 3002269014. DIRECTOR OF FINANCE: I HEREBY CERTIFY THAT THESE ARE NO DELINQUENT SPECIAL ASSESSMENTS PN(10EL E: AND THAT ALL SPECIAL ASSESSMENTS CERTIFIED TO THE CITY TREASURER LOTS 1 THROUGH 5, CENTRAL HIGHLANDS PLAZA,A BINDING SITE PLAN, FOR COLLECTION ON ANY PROPERTY HEREIN CONTAINED DEDICATED FOR ACCORDING TO THE PLAT THEREOF RECORDED IN VOLUME 141 OP PLATS, STREETS,ALLEYS, OR OTHER PUBLIC USE ARE PAID IN FULL. PAGES 59 AND 60, RECORDS OF KING COUNTY,WASHINGTON. BOTH SITUATE IN THE COUNTY OF KING, STATE OF WABHINGTON, e.iiy_„G/e/ SECTION 3,TOWNSHIP 23 NORTH,RANGE 5 EAST,W.N. DIRECTOR,CITY OF RENTON OFFICE OF FINANCE STATEMENT OF PURPOSE PUBLIC WORKS ADMINISTRATOR: THIS AMENDMENT WILL INCREASE LOT 3(AND CEDIREASE LOT 5)BY 2,616 SQUARE EXAMINED AND APPROVED THIS. IDAY OF AMRIL ,199.E. FEET TO ALLOW ALBERTSON5 TO EXPAND AN EXISTING STRUCTURE BY 6,210 SQUARE p� FEET. y/I UM 3 IMPAIL*K[vi4- MEG: • HIPPTASTITS FILED FOR RECORD�REQUEST OF THE CITY OF RENTON IRIS .,,., 4 mg DEVELOPMENT OR CONSTRUCTION OF ANY IMPROVEMENTS UPON THE REAL ANDDAY OF�ty % . 199G. AT,y A_MLNUTBS PAST ,p••. 4PROPERTY HEREIN DESCRIBED SHALL BE IN ACCORDANCE WITH THE BINDING REC RECONDED IN VOLVEB/AS OF BINDING SITES, PAGES Tf.-J'•f , SITE PLAN APPROVED BY THE CITY OF RENTON ON Ey-14-42.. RECORDS OF RING COUNTY,WAS maw. V� 1991. VISION OF RECORDS AND EDECTIOF RECORDS AND DNS: , THIS BINDING SITE PLAN AND ALL OF ITS REQUIREMENTS SHALL BE LEGALLY ENFORCEABLE ON ANY PURCHASER OR OTHER PERSON ACQUIRING AN ��3�;'•h �i ':'^'�^� INTEREST IN THE WITHIN DESCRIBED REAL PROPERTY. MANAGER SUPSAINTENDENT OF RECORDS 494 - 0 MOWED BY: BUSH,HOED&HITCHINGS,INC. iAWD S SUST6*9 URYlYOAS DON• • 9 ,4919»2 1Mw no Rn3nR..s SHEET I 0 2 • . , . . .- _ ..._.-____...., .... - _. _ .. . _ ____ - -.- _.- . . . . . _ . _..________ . .____ . _ _. 1 76 7 7 CENTRAL HIGHLANDS PLAZA -A - --- FILE NQ LeBeeSNP0 7064-92 AN AMENDED BINDING SITE PLAN ,,,,_ , ---. i a 1 OUCH BASIN AMENDS BINDING SITE PLAN RECORDED IN VOLUME 141, .,,,,n) .* ..,..-...4-.. 11 FR 11112 WM.( PAGES 59 a 60 RECORDS OF KING COUNTY, WASHINGTON pii i'w- -.:. ,,,,,•00 gt, ...,, i h.sti •.• Qs aorret 1,11 ci FM POWER WO SECTION 3,TWP.23 N.,FtGE.5 E.,W.M. Cit),;(0000‘.00#6.• ea&C/0 SAMMY SEW53 CIE.OUT 0 SSISI SAMMY SEWER WNW. -/ ROHM&COMO 0 T.S.TELEPHCHE EMMY ▪ TENFIC UV.WILT CT.M.TELEPW301E flay .wm. WOES METES 1.W.V. MYER%%WE ▪ MUMS muswaiir W OWTSZE(IMMO 01141423014 TO Opp 0 GIMOVO caw NOTE: CITY OF RENTON, KING COUNTY Y. WASHING1ON 5SP. .. • ',. - .s. 14 ;PrePar:COreer Set De PI Cdilty, SIrdanyfeR_f_05407„,,,u,s1:17:0_74' ...,,,_ 1 I:4,, too. 1,.. ,rivi- WO' " „,,''43.20' ' ', vg.V:- -61",,,,j'Ad-".9'. 6 WP . •.10°'"1-01 .0 '''' ' • '' N' 12; - '?tt•-tt I 161' - --- ..-.• ":97.• / Ye( •4e;• gipi: 4. e #*.,,,6 2 1' le pp .,,,,s. „1. __ . 0\0' ao Pr.'"'"' '.,' - -,''''': b ic* aelz.,9p,702., ..„,ou , ,...,,,,,,,._ _.„0:0_,....,-,- • ,01. ,,,, .4,peo4° OW- 1. , ,. -1.1.- 4 ';•• I! 0 t ••• .,,,, '..;.,Q, • LOT 1 ...II\ '1 ----:1- tr;ass •••.5,,=ewe: ,, ,, , 1 '1. :„.s4;:t.4%•: 1.1'.:7_,_,... ‘ "?..1 • • •• SR ii . 7 nraolkapped„) of, A .. 330-79 - . t I 114 /'•50' -.` 4. ... ,,7.,,.., ....-o.• •• - Efitlik I Aft6 8C8225.r_..,. . , .... j L.,.,,, k E..,..,,m. .k.,,; _....„ ,4, ..-.,... ..-.:. -,..; •os gaols clip-in445.54S Meridpkoz, 045 ,,-„, ,,Le-e--•A ft.6.41111b)., .... t,111-' .,..*s'a.'4---:',"....IT- .. 1,„ .s,.. ... _,. .. . _16642',- • • " - i s.L. sleciTt.'alidalggi"a7 ',AA''Ver. :e 01 k' • - ':',' .`'....',...• .501 wl.0•16.010. •E MIE.‘• us \ 'f• - -' ,..alr- 110.0 PoIS 'Ai,Lot..KAM ,N der.38'.55•9, 3.31.41,:"--;i ....--...- -11 0 . 4Ie •K .-,--• v..,:i4.47,./ ,•&'•„-W. s'IN, illk.,_,,,,Oa1. IW g 2 - -- ......• .....--..... -, a 5 ‘4 • r ._.4.0, . • , \ - - 6 4-----4;--- ......- ,.. 3 .-- :- 'cc' WEE teems onismsE No▪me ,,L,NV ....,y, „ • ' • • Ili , \ IR , ig -4§ _.1.- - \ - )11.0 evtlf t ' o -----K b 6 k 'r•,; ,_2..4'. , ..--- „.-- MRS, 1. - ii. / . 9 •-• . • c37•1 ,,, i 11 11 . 28 29 -"k---- 29 *Il.,.l.r.1i1A1,'lI i p -6 4&7:.• "?."•W,•Yeestern bi I" 1 4, 88°36 Ze 0 1. 7grir .,...10 sta_ 5.33' ' (m) , - ._'--'•-fs.::___ ___.?iV S.COM CIS. SEM '-13A9'....... N air . 55" I I. s ;tti.....• _ • QV 11 317FElir''...s: Nor 36211Y 10580 . • I 205$8.41 -. -N 85°36'1/7"1.134.491-...• ''''"-.:'Fnlir.i7-2Vikin ,.",,,, , 134.47* ..' 'Exi'srfiN O'i it i 1/4N0A23'39'E °K al E. •,,' ' WW1 0118 thco.en Lai" 1 Ilk /500' ' EcEd&gang Lim 1 cororreostro vorp,;,- , ; g a ' us) v.5AsaamirmeasKatoulo ;1!;1, k P.1.118 Sh:re it.i, EXPANVON '11, 41'': rC,18P1ggiff700ErP"'d 1$011 r, ▪ '11 FMWrIEW... (f) / 4 '11,Z! 2 • Erns 1 ily/ss5 '0 b •.1 Pa , 2 '4.... . A/bet:180n's „.4,2„,,,, . I '4., ntc • ;• gis.4 LOT ! 47,886.9 F1,109 Acres • Na g.,I, 4 LOT 2 !,..., 'M LOT 3- ..9q/7,0.55Arya, "'"1 1 11.Z:2 42,267 SO.FT 0.97 ACRES ' i. 21 2s '.4 i's •nopenfr LINE PER HOP 81..87 I lo 4 ,,.., t i k ,,, n 32 LAWSECAPE AREA . g N 33' 36' .11' kV Nc, ' .. i )0,5154GWALL • 1„. ,, , ,,,,,.. /wa,taa y/row to I el Wall 20560 '- 23-•• liSS 1111,1 ,i 31 GOM • 6. 195 05'• • 1'1K' ' ''!Fs 24 67' '-. ,, `r.t,,...4.mik 27,- ' e'PIP--' "?.`.", • ae---'::411111.•L.,-1111W\ d .,.., A'' ' ''""e2° ' I /5 .4.t 1 ' ' °7• LOT '.4'11'69' INfge.36'2i. Ner342.171'-.. 147.0z, ,..,..1W,;• et.:i OM 1.IWKEH WM. N 8 3.1_ + _ .. L_ S°18"55"W __ E'I ____ -' MI..,.... albtle.1-.......... i _ _._1,11,i --Im• OTI..... _. 2.,;•-- VIIPAY ftive '' .... 1N- '.. I. 1 N 93'35'55' W 60715' -VS'WATES.8.291AMSCAPEEASEMEHT auMn ,44,..'..;;., /..,v. , --- ..I lia• --t:=''''' ' PEP AY.MO.rTIHOOSSO .1 •4,,,,:•?'.1. Lot 2 , Lo1 3 La/3 La,4 _...!:"."7,1: i..i Aealoa S.A 33/.79 A,f.5002.259015 RES7/017 3A 331.79 AF 80012690/5 Renton.9.1? 330-79 aen/on ae 33079 (.4`•,- ',.....9., 'I Pi , A 6002269014 AF 4900226904 l' ,.-.1..._:.6.- Fit.1.ESP : % ,,,,,Aap..1 ism st s'• . , sAck,s.c.,•2.95.) .4 - 6/8 65' ( N. E.. e V deP . -..;. - 4-'4454 14‘.1,407 in 0288 /2te 53'STREET At...kken,Pfiq In 8.11,8890.7 See.9'13.6 8,1011,01 SHEET 2 of 2 . . . • i a + IIII RECEIVED THIS DAY :, ADMINISTRATIVE SITE PLAN REV S ��Sl AM F. CITY OF RENTON 14 REPORT AND DECISION r1 ;,x "viSl ry y ON R=C�ROS'.:L:-.ciWCYS ,v • AMENDMENT xlkc cony s • TO BINDING SITE PLAN ' DECEMBER 16,1992 € Y .. APPLICATION NO.: LUA-92.064-BSP;ECF;SA :•;_i: c P'' OWNER Albertson's Inc. o 1. : APPLICANT: McConnelUBurke o •t CONTACT PERSON Ron McConnell • i1,,% PROJECT NAME: Site Plan Approval for Albertson's Expansion S F. 1: ,` Central Highlands Plaza Amended Binding Site Plan 4 .., • LOCATION: Central Highlands Plaza: South of Sunset Blvd between Anacortes Ave NE ,,,• ; 8 Duvall Ave NE `^• . - SUMMARY OF REQUEST: Site Plan Approval and amendment to existing Binding Site Plan to permit: Ps? • • (1)a 6,849 si expansion of Lot 3(total amended area is 46,501 se:(2)a 130 — T sf reduction in area of Lot 2(total amended area is 24,170 se:and(3) a � 7,814 sf expansion to the existing Albertson's retail food store (total :,I expanded area Is 34,683 se. ''••' COMMITTEE REVIEW: :.� The following exhibits were entered into the record: :Li ' Exhibit No.1: Yellow file containing: application, proot of posting and publication, • d' environmental review end other documentation pertinent to this request. .•.., 0 Exhibit No.2: Neighborhood Detail(Vicinity)Map(Received April 7,1992). :'• 14 Exhibit No.3: Central Highlands Plaza: An Amended Binding Site Plan: Cover Sheet e: - X (Sheet 1 of 2)(Received April 7,1992). i 0 Exhibit No.4: Central Highlands Plaza: Art Amended Binding Site Plan;Site Plan Sheet • 1f) (Sheet 2 of 2)(Received April 7.1992). • 'Jo , to Exhibit No.5: Sheet L•1:Landscape Plan(Received April 7,1992). i ° f C) Exhibit No.6: Elevations of proposed Albertson's store expansion (Received April 10. i9o2). Exhibit No 7: Schematic floor plan of proposed Albertson's store expansion(Received April 1992). ). Exhibit No.8: Storm Drainage Report(Received September 23,1992). FINDINGS,CONCLUSIONS,AND DECISION Having reviewed the written record in the matter,the City now makes and enters the following: ,) sm,non 0.vbJl • .r•.-• o.[ I'' 1 ». mow:.-�t.=.•L•4:6i`u.'-:..._— . • • • _ I • • ADmaNSTRATIVE SITE PLAN REVIEW ALBERTSON'S EXPANtION&CENTRAL HIGu..ANDS PLAZA AMENDED BINDING SITE PLAN DECEMBER 16,1992 PAGE 2 FINDINGS t. The Applicant, McConnell/Burke, has requested Site Plan Approval and an Amendment to its previous Binding Site Plan to permit: (1)a 6,849 sf expansion of Lot 3(total amended area is 46,501 st);.(2)a 130 sf reduction in area of.Lot 2(total amended area Is 24,170 sl):and(3)a 7,814 si expansion to the existing Atbenson's retail food store(total expanded area is 34,683 sl). The purpose of the proposal is to amend a previously approved Binding Site Plan(December 31,1987;File No.BSP-091.87)to allow expansion of the existing Albertson's supermarket located in the Central Highlands Plaza shopping center. The proposed building addition would provide Increased sates display area for the supermarket's deli section. The proposal is located at the intersection of Sunset Boulevard and Duvall . Avenue NE. An existing approved and recorded Binding Site Plan for the Central Highlands Plaza must be amended in order to accomplish this proposal. Site Plan Approval is also required for the proposed revisions to the building facade,parking and landscaping. 2. The applicant's file containing the application,the State Environmental Policy Act(SEPA)documentation,the comments from various City departments,the public notices requesting citizen comment,and other pertinent documents was entered as Exhibit No.1. 3 . Pursuant to the City of Renton's Environmental Ordinance and SEPA(RCW 43.21C, 1971 as amended),a Determination of Noe.Significance-Mitigated was issued for the subject proposal on November 9,1992,with the following conditions; a) In order to address potential impacts on the existing cedar trees adjacent to the revised driveway on 0 Duvall Avenue NE,the applicant is required to retain an Arborist to provide recommendations for preservation of the trees. The Arborist's recommendations shall be submitted to the Development Services Division prior to Site Plan Approval and amendment to the Binding Site Plan. 4. The 14 day appeal period ended on November 24,1992.with no appeal tiled. } 5. Compliance with ERC Conditions: v • a) In order to address potential Impacts on the existing cedar trees adjacent to the revised • driveway on Duvall Avenue NE, the applicant is required to retain an Arborist to provide recommendations for preservation of the trees. The Arborist's recommendations shall be submitted to the Development Services Division prior to Site Plan Approval and amendment to the Binding Site Plan. Compliance: The applicant retained, John D. Hushagen, Consulting Arborisl with Seattle Tree Preservation.Inc.to review potential impacts of the proposed driveway relocation on two existing large diameter cedar trees. The arborisl's report is contained in Attachment A to this report. The report concludes: 1) Of the two cedar trees on site,only the one to the north is not worth saving. This tree was damaged during the original shopping center construction or perhaps from the widening of Duvall Avenue NE. Because die back of the tree is substantial,it should be removed al the start of construction. • 2) While the southern of the two trees has had some damage,the soil grade changes were not as sever and the tree has reached an equilibrium between the needs of its crown and what its roots can supply. • 3) The proposed parking and driveway revisions would cause some minor disturbance of the southern tree's roots,however probably not enough to cause it to die or become physically unstable. Since this tree is worth saving,the amorist recommended the following measures to save the tree: a. "Do not add or remove soil within the tree's drip line." b. "Install sturdy tree protection fencing at the drip line prior to beginning excavation." c. "Apply a 3 to 4 inch layer of wood chips to serve as a mulch for moisture retention during and after construction." d. 'Provide 1 inch of Irrigation water per week on the tree's root zone during the April to • _ !!I October growing season,both during construction and for 2 10 3 years thereafter." M:F•Rsit cower 1 A'.. • • • ADMINISTRATIVE SITE PLAN REVIEW ALBERTSON'S EXPANSION d CENTRAL NIGT,..ANDS PLAZA AMENDED BINDING SITE PLAN DECEMBER 16.1992 PAGE 3 • e. 'Consider root zone therapy with eight vertical mulching or the Gro-Gun to stimulate new root growth within and outside the tree's drip line." 6. Plans for the proposal have been reviewed by all City departments affected by the impact of this proposal. i 7. The subject proposal is consistent with the Comprehensive Plan designation of Cori 6. The site plan as presented,complies with the zoning requirements and development standards of the B-1. Business District. 9. The subject site was annexed into the City on July 7,1975 by Ord.2945. At the time of the annexation,the site was zoned G-1. The site was rezoned from G-1 to 8.1 on August 15,1977. • 10. Land uses surrounding the subject site include:commercial uses to the north,west and east. Residential uses exist to the south of the site. 11. The applicant's site plan complies with the requirements for information for Site Plan Review,as contained in 1 • Section 4-31-33;and requirements for information Binding Site Plans as set forth in Section 9-12.6-A. 1 CONSISTENCY WITH SITE PLAN APPROVAL CRITERIA Section 4.31-33(D)lists ten criteria that is asked to consider along with all other relevant information in making a decision on a Site Plan Approval application. These include the following: { 1. Conformance with the Comprehensive Plan,its elements and policies; The subject proposal is consistent with the Comprehensive Plan designation of Commercial. The proposal is also consistent with the Commercial Areas Objective: "Sound commercial areas should be created and/or , maintained and denting areas revitalized";and the Commercial Structure and Sites Objective; "Commercial 7' structures and sites should be well-designed,constructed and maintained. 2. Conformance with existing land use regulations; s Tile site plan as presented,complies with the zoning requirements and development standards of the 8-1. Business District. The proposal exceeds minimum front yard/street setback of ten feet; has less than the maximum 65%lot coverage allowed;and its 24 foot high buildings are less than the 95 fee!allowed. 3. Mitigation of impact to surrounding properties and uses; 1 a) Mitigation of undesirable impacts of proposed structures and site layouts that could impair the use or enjoyment or potential use of surrounding uses and structures and of the 0 community, The proposal would make minor revisions to an existing commercial development. The proposed G addition to the front of the existing Albertson's store would be setback from Sunset Boulevard by over 400 feet,and thus should have minimal impact on surrounding properties. Likewise,relocation of the entrance drive at Duvall by approximately 35 feet to the north should have minimal impact on surrounding uses, since the driveway has been designed to preserve two existing large diameter cedar trees which create a visual buffer on the east side of the subject site. b) Mitigation of undesirable impacts when an overscale structure,in terms of size,bulk,height, and intensity,or site layout Is permitted that violates the spirit and/or intent of the Zoning Code and impairs the use,enjoyment or potential use of surrounding properties. No! applicable. The existing commercial structures, as well as the subject addition, are all approximately 24 feel in height,which is compatible in scale with other surrounding commercial in the vicinity. c) Provision of a desirable transition and linkage between uses and to the street,utility,walkway, and industrial systems in the surrounding area by the arrangement of landscaping,fencing • an/or other buffer techniques,in order to prevent conflicts and to promote coordinated and — planned benefit from,and access to,such elements. stIVI Tr excep3 �, k; • • • 1111/ ADMINISTRATIVE SITE PLAN REVIEW ALBERTSON'S EXPANSIONS CENTRAL HIGmANDS PLAZA AMENDED BINDING SITE PLAN DECEMBER 16.1992 PAGE 4 Existing sidewalks along Duvall and Anacoles provide linkages to Sunset. The proposal would provide pedestrian linkages from the various store entrances via an east-west walkway in front of the stores. • d) Consideration of placement and scale of proposed structures in relation to the natural characteristics of a site such that they create a perception of greater height or bulk than Intended the spirit of the Zoning Code. Not applicable. The existing commercial structures, as well as the subject addition, are all approximately 24 feet in height,which is compatible in scale with other surrounding commercial in the vicinity. e) Effective location, design and screening of parking and service areas In order to promote efficient function of such facilities, to provide integrated facilities between uses when beneficial, to promote "campus•like" or park-like" layouts In appropriate zones, and to prevent unnecessary repetition and conflict between uses and service area or facilities. With the exception of minor revisions to the existing parking and firelane to allow expansion of the j r existing Albertson's store,the proposal would have minimal impact on existing parking and landscape screening. Existing loading areas at the rear(south side)of the stores would not be affected by the proposal. In order to address the impact of revisions to the proposed driveway relocation al Duvall Avenue NE.it is recommended that the applicant be required to submit a landscaping plan and install additional landscaping in the planting area bordering the east side of the subject site. HI) Mitigation of the unnecessary and avoidable Impacts of new construction on views from • (� existing buildings and future developable sites,recognizing the public benefit and desirability Cr• of maintaining visual accessibility to attractive natural features and of promoting"campus- like"or"parklike"settings in appropriate zones. Not applicable. The proposal would continue the existing single story construction that currently exists on the subject site and would not impact views from existing or potential future buildings. • g) Provision of effective screening from public streets and residential uses for all permitted outdoor storage areas(except auto and truck sales),for surface mounted utility equipment,for rooftop equipment,and for all refuse and garbage containers,in order to promote a"campus- . like"or"park-like"setting where appropriate and to preserve the effect and intent of screening or buffering otherwise required by the Zoning Code. Not applicable. An existing outdoor storage area for Ernst's nursery section is visually screened at the west side of the site. No new or expanded outdoor storage areas are pal of this proposal. h) Consideration of placement and design of exterior lighting in order to avoid excessive brightness or glare to adjacent properties and streets. • Not applicable. No new exterior lighting is proposed. 4. Mitigation of impacts of the proposed site plan to the site; a) Building placement and spacing to provide for privacy and noise reduction;orientation to views and vistas and to site amenities,to sunlight and prevailing winds,and to pedestrian and vehicle needs. The proposal would make minor revisions to an existing commercial develupment. Tile proposed addition to the front of the existing Albertson's store would be setback from Sunset Boulevard by over 400 feet,and thus should have minimal impact on surrounding properties. Likewise,relocation of the entrance drive at Duvall by approximately 35 feet to the north should have minimal impact on surrounding uses, since the driveway has been designed to preserve two existing large diameter cedar trees which create a visual butter on the east side of the subject site. b) Consideration of placement and scale of proposed structures in relation to the openness and natural characteristics of a site in order to avoid overcentration or the Impression of oversized structures. I• SM.U.11 P..VrCi . p%%'a • ''! • imiammEmmommo • • 20140117000693.003 IN WITNESS WHEREOF,the Assignor has caused this instrument to be executed this f 0 day of January,2014. • ASSIGNOR: THE BANCORP BANK,a Delaware state-chartered bank By: Name:Al Leybov Title: Vice President,Commercial Mortgage Securitization ACKNOWLEDGEMENT STATE OF NEW YORK ) ) COUNTY OF NEW YORK ) On the 10 day of January, 2014, before me, the undersigned, a Notary Public in and for said state,personally appeared Alex Leybov, as Vice President,Commercial Mortgage Securitization of The Bancorp Bank, personally known to me or proved to me on the basis of satisfactory evidence to be the person who executed the foregoing instrument, and he thereupon duly acknowledged to me that he executed the same to be his free act and deed. WITNESS my hand and official seal. My Commission Expires: Signature: D -9-/wp_ Notary Public SOCORRO 0.FARGAS Notary Public, State of New York No.01 FA6228060 Qualified in New York Commission Expires 09/13/2014 � RETURN ADDRESS: j (�(/ttIIIIIij :Iii, 6L• Bellevue,WA 98009-9942 A ET SOUND EN 30 (Zech Bergman) KING Co�N U 6 65.00 , EASEMENT • REFERENCE#: On.+'"} L GRANTOR: Alamo Renton,LLC GRANTEE: PUGET SOUND ENERGY,INC. SHORT LEGAL: Lots 3&5,Central Highlands Plaza,Vol.141,Pg(s)59&60,KC,WA ASSESSOR'S PROPERTY TAX PARCEL: 149450-0030&149450-0050 . ` For and in consideration of One Dollar($1.00)and other valuable consideration in hand paid, Alamo Renton,LLC,a Delaware Limited Liability Company ("Grantor"herein),hereby conveys and warrants to PUGET SOUND ENERGY,INC.,a Washington Corporation ("Grantee"herein),for the purposes hereinafter set forth, a nonexclusive perpetual easement over, under,along, across,and through the following described real property("Property"herein)in eCOUNTYs County,Washington: • SEE EXHIBIT"A"ATTACHED HERETO AND BY THIS REFERENCE MADE A PART HEREOF. Except as may be otherwise set forth herein Grantee's rights shall be exercised upon that portion of the Property • ("Easement Area"herein)described as follows: EASEMENT AREA NUMBER 1: THE EAST 20 FEET OF THE ABOVE DESCRIBED PARCEL A. EASEMENT AREA NUMBER 2: THE SOUTH 252 FEET OF THE EAST 65 FEET OF THE ABOVE DESCRIBED PARCEL B. • • 1. Purpose. Grantee shall have the right to use the Easement Area to construct,operate,maintain,repair, replace,improve,remove,and enlarge one or more utility systems for purposes of transmission,distribution and sale of gas..Such system may include,but are not Nutted to: Underground facilities. Pipes, pipelines, mains, laterals, conduits, regulators and feeders for gas:fiber optic cable and other lines,cables and facilities for communications;semi- buried or ground-mounted facilities and pads,manholes, meters, fixtures, attachments and any and all other facilities or appurtenances necessary or convenient to any or all of the foregoing. Following the initial construction of all or a portion of its systems,Grantee may,from time to time,construct such additional facilities as it may require for such systems. Grantee shall have the right of access to the Easement Area over and across the Properly to enable Grantee to exercise Its rights hereunder. Grantee shall compensate Grantor for any damage to the Property caused by the exercise of such right of access by Grantee. 2. Easement Area Clearing and Maintenance. Grantee shall have the right to cut,remove and dispose of any end all brush,trees or other vegetation in the Easement Area. Grantee shall also have the right to control,on a continuing basis and by any prudent and reasonable means,the establishment and growth of brush,trees or other vegetation in the Easement Area. 3. Grantor's Use of Easement Area. Grantor reserves the right to use the Easement Area for any purpose not inconsistent with the rights herein granted,provided,however,Grantor shall not construct or maintain any buildings,structures or other objects on the Easement Area and Grantor shall do no blasting within 300 feet of • Grantee's facilities without Grantee's prior written consent. 4. Indemnity. Grantee agrees to indemnify Grantor from and against liability incurred by Grantor as a • result of Grantee's negligence In the exercise of the rights herein granted to Grantee,but nothing herein shall require Grantee to indemnify Grantor for that portion of any such liability attributable to the negligence of Grantor or the negligence of others. Gas Main Albertsons 079703 Page 1 of 3 EXCISE TAX NOT REQUIRED IOn Co.Records n BY drO t ! ,pepyty 5. Abandonment. The rights herein granted shall continue until such time as Grantee ceases to use the Easement Area for a period of five(5)successive years,in which event,this easement shall terminate and all rights hereunder,and any improvements remaining in the Easement Area,shall revert to or otherwise become the property of Grantor, provided, however,that no abandonment shall be deemed to have occurred by reason of Grantee's failure to initially install its systems on the Easement Area within any period of time from the date hereof. 6. Successors and Assigns. Grantee shall have the right to assign,apportion or otherwise transfer any or all of its rights, benefits, privileges and interests arising in and under this easement. Without limiting the generality of the foregoing,the rights and obligations of the parties shall inure to the benefit of and be binding upon their respective successorscc� and assigns. DATED this ! ( day of ,2011. GRANTOR: Alamo enton,L C,a Del linked Liability Company • BY: ITS: cr" '6 J . STATE OF WASHINGTON ) ,Bee (.YJt a( i )ss aG.1Cno i ed*Wi COUNTY OF On this day o •2011,before me,the undersigned,a Notary Public in and for the State of 'ashington, duly commissioned and sworn, personally appeared ,to : known or proved by satisfactory evidence to be the person who signed as , of Ala •o Renton, LLC, a Delaware Limited Liability Company, the limited • liability company that executed the within an. oregoing instrument,and acknowledged said instrument to be his/her free and voluntary act and deed and the free an. oluntary act and deed of said limited liability company for the uses and purposes therein mentioned;and on oath stet-• that he/she was authorized to execute the said instrument on behalf of said limited liability company. IN WITNESS WHEREOF I have hereunto set my hand .•d official seal the day and year first above written. (Signature of Nota (Print or stamp name of =ary) NOTARY PUBLIC in and for he State of • Washington,residing at My Appointment Expires: Nam xst lea ow w m40.n.,mm not to$ dwwn+•rnmxe Gas Main Atbertsons 079703 Page 2 of 3 .1i CALIFORNIA ALL-PURPOSE ACKNOWLEDGMENT State of California County of eznira. n On aot( before me, KP.l ti, L, 14oef No' , Date Here Insert Name etd Title of the Officer • personally appeared i'llnNG1 cia.uht me(s)of Signer(s) who proved to me on the basis of satisfactory evidence to be the persoriwhose nameggare subscribed to the within instrument and acknowledged to me that 8slaeithey executed the same i hi khefittlwir authorized capacity(ies); and that b ( - -it signature on the instrument the person, or the entity upon behalf of which the person4acted, executed the instrument. KEW L HOEFS I certify under PENALTY OF PERJURY under the laws Cotul.B 1838240 troff�c•cufFae+u of the State of California that the foregoing paragraph is `.��./ Cantu cosnt cg6rrr true and correct. Mr tort.Ev:11�a.H,2015 WITNESS and and officia I. ti Signatur Place Notary Seal Above Signature of No ry Pub OPTIONAL Though the information below is not required by law,it may prove valuable to persons relying on the document and could prevent fraudulent removal and reattachment of this form to another document. Description of Attached Document /� Title or Type of Document: O3ef,()� f, 1 45O"'00 50 & —CO60 Document Date: Number of Pages: 3 Signer(s)Other Than Named Above: Capacity(ies) Claimed by Signer(s) Signer's N: •e: Signer's Name: El individual a` Individual ❑ Corporate Offi - Title(s): ❑C• •orate Officer—Title(s): ❑ Partner—❑Limite• ❑General RIGHT THUMBPRINT 0 Partn- —❑ Limited 0 General RIGHTTHUMBPRINT ❑ Attorney in Fact OF SIGNER 0 Attorney i act OF SIGNER ❑ Trustee Top of thumb here 0 Trustee Tap of thumb here ❑ Guardian or Conservator 0 Guardian or Conser - •r ❑ Other: ❑Other: Signer Is Representing: Signer Is Representing: 111111111b.- 02907 National Notary Association.9350 De Solo Ave,,P.O.Box 2402•Chatsworth,CA 91313-2402•www.NafionalNotary.org Item N5907 Reorder.Ca11108-Free 1.800-878-6827 EXHIBIT"A" PARCEL A: TAX PARCEL#149450-0030: ALL OF LOT 3,CENTRAL HIGHLANDS PLAZA,ACCORDING TO THE BINDING SITE PLAN THEREOF RECORDED IN VOLUME 141 OF BINDING SITE PLANS,PAGES 59 AND 60,RECORDS OF KING COUNTY,WASHINGTON, AND THOSE PORTIONS OF LOTS 2 AND 5,SAID CENTRAL HIGHLANDS PLAZA,DESCRIBED AS A WHOLE AS FOLLOWS: BEGINNING AT THE MOST SOUTHERLY SOUTHEAST CORNER OF SAID LOT 3,THENCE SOUTH 46°21'05" WEST 22.60 FEET ALONG THE SOUTHWESTERLY PROLONGATION OF THE SOUTHEASTERLY LINE THEREOF TO A LINE LYING PARALLEL WITH AND 15.98 FEET SOUTHERLY OF THE SOUTH UNE OF SAID LOT 3,AS MEASURED AT RIGHT ANGLES THERETO; THENCE NORTH 88°38'55'.WEST 147.02 FEET ALONG SAID PARALLEL UNE; THENCE NORTH 01°21'05"EAST 224.48 FEET TO THE WESTERLY PROLONGATION OF THE NORTH UNE OF SAID LOT 3; THENCE SOUTH 88°38'55" EAST 193.00 FEET ALONG SAID PROLONGATION AND NORTH LINE TO THE EAST LINE OF SAID LOT 3; THENCE SOUTH 01°21'05" WEST 178.50 FEET ALONG SAID EAST LINE TO THE MOST NORTHERLY SOUTHEAST CORNER OF SAID LOT 3; THENCE SOUTH 46°21'05" WEST 42.43 FEET ALONG SAID SOUTHEASTERLY UNE TO THE POINT OF BEGINNING. PARCEL B: TAX PARCEL#149450-0050: ALL OF LOT 5,CENTRAL HIGHLANDS PLAZA,ACCORDING TO THE BINDING SITE PLAN THEREOF RECORDED IN VOLUME 141 OF BINDING SITE PLANS, PAGES 59 AND 60, RECORDS OF KING COUNTY, STATE OF WASHINGTON. Gas Main Albertsons 079703 Page 3 of 3 M 20131024001185.001 1 ST A 1\16_U Zzp,-W '1 69m- AFTER RECORDING MAIL TO: Wachtel Missry LLP One Dog Ham marsjold Plaza 885 Second Avenue,47"'Floor 20131024001185 New York,New York 10017 163.06 Attn: Mitch Fenton FIRST CAN DT PAGE-0o1 O OFF 019 KING4COUNTY,1 UA2 ,•'' First American Title Document Title(s): • �+ Insurance Company Deed of Trust,Assignment of Leases and Rents,and Security 'T Agreement Reference Number(s): (this space for title company use only) Grantor(s):ARGO Renton,LLC Grantee:The Bancorp Bank Trustee: First American Title Insurance Company Abbreviated Legal Description as follows: Lots 1,2,3&5,Central Highlands Plaza BSP(176/76) Assessor's Property Tax Parcel/Account Number(s): 149450-0010-08; 149450-0020-06; 149450-0030-04;and 149450-0050-09 NOTE;The auditor/recorder will rely on the information on the form. The staff will not read the document to verify the accuracy or completeness of the indexing information provided herein. RECORDPA 20131024001185.002 THIS DOCUMENT PREPARED BY AND RECORDING REQUESTED BY AND WHEN RECORDED MAIL TO: Wachtel Missry LLP One Dag Hammarskjold Plaza 885 Second Avenue,47th Floor New York,New York 10017 Attention: Mitch Fenton ARGO RENTON, LLC (Trustor) to • FIRST AMERICAN TITLE INSURANCE COMPANY (Trustee) for the Benefit of THE BANCORP BANK (Beneficiary) DEED OF TRUST,ASSIGNMENT OF LEASES AND RENTS AND SECURITY AGREEMENT Dated: As of October 24, 2013 Property Location: 4601-4621 NE Sunset Blvd. Renton, WA 20131024001185.003 DEED OF TRUST, ASSIGNMENT OF LEASES AND RENTS AND SECURITY AGREEMENT (this "Deed of Trust'), made as of October 24, 2013, by ARGO RENTON, LLC,a Delaware limited liability company,having an office at 770 Tamalpais Drive, Suite 401- B, Corte Madera, California 94925 ("Trustor"), to FIRST AMERICAN TITLE INSURANCE COMPANY, having an address at 818 Stewart Street, Sutie 800, Seattle, Washington 98101 ("Trustee"), as Trustee, for the benefit of THE BANCORP BANK (together with its successors and assigns, hereinafter referred to as "Beneficiary"), having an address at 712 5th Avenue, lilt' Floor,New York NY 10019. Trustor and Beneficiary have entered into a Loan Agreement dated as of the date hereof (as amended, modified, restated, consolidated or supplemented from time to time, the "Loan Agreement')pursuant to which Beneficiary is making a secured loan to Trustor in the aggregate original principal amount of$6,550,000.00 (the"Loan"). Capitalized terms used herein without definition are used as defined in the Loan Agreement. The Loan is evidenced by a Note dated the date hereof made by Trustor to Beneficiary in such principal amount (as the same may be amended, modified, restated, severed, consolidated, renewed, replaced, or supplemented from time to time, the"Note"). To secure the payment of the Note and all sums which may or shall become due thereunder or under any of the other documents evidencing, securing or executed in connection with the Loan (the Note, this Deed of Trust, the Loan Agreement and such other documents, as any of the same may, from time to time, be modified, amended or supplemented, being hereinafter collectively referred to as the "Loan Documents"), including (i) the payment of interest and other amounts which would accrue and become due but for the filing of a petition in bankruptcy(whether or not a claim is allowed against Trustor for such interest or other amounts in any such bankruptcy proceeding) or the operation of the automatic stay under Section 362(a) of Title 11 of the United States Code(the"Bankruptcy Code"),and (ii)the costs and expenses of enforcing any provision of any Loan Document (all such sums being hereinafter collectively referred to as the "Debt"), Trustor has given, granted, bargained, sold, alienated, enfeoffed, conveyed, confirmed, warranted, pledged, assigned and hypothecated and by these presents does hereby give, grant, bargain, sell, alien, enfeoff, convey, confirm, warrant, pledge, assign and hypothecate unto Trustee, in trust for the benefit of Beneficiary, WITH POWER OF SALE, the land described in Exhibit A (the "Premises"), and the buildings, structures, fixtures and other improvements now or hereafter located thereon (the"Improvements"); TOGETHER WITH: all right, title, interest and estate of Trustor now owned, or hereafter acquired, in and to the following property, rights, interests and estates (the Premises, the Improvements, and the property, rights, interests and estates hereinafter described are collectively referred to herein as the"Trust Property"): (a) all easements, rights-of-way, strips and gores of land, streets, ways, alleys, passages, sewer rights, water,water courses,water rights and powers, air rights and development rights, rights to oil, gas, minerals, coal and other substances of any kind or character, and all estates, rights, titles, interests, privileges, liberties, tenements, hereditaments and appurtenances of any nature whatsoever, in any way belonging, relating or pertaining to the Premises and the Improvements; and the reversion and reversions, remainder and remainders, and all land lying in 20131024001185,004 the bed of any street, road, highway, alley or avenue, opened, vacated or proposed, in front of or adjoining the Premises, to the center line thereof; and all the estates, rights, titles, interests, dower and rights of dower,curtesy and rights of curtesy,property,possession, claim and demand whatsoever, both at law and in equity, of Trustor of, in and to the Premises and the Improvements and every part and parcel thereof, with the appurtenances thereto; (b) all machinery, furniture, furnishings, equipment, computer software and hardware, fixtures (including all heating, air conditioning, plumbing, lighting, communications and elevator fixtures), inventory, materials, supplies and other articles of personal property and accessions thereof, renewals and replacements thereof and substitutions therefor, and other property of every kind and nature, tangible or intangible, owned by Trustor, or in which Trustor has or shall have an interest,now or hereafter located upon the Premises or the Improvements, or appurtenant thereto,and usable in connection with the present or future operation and occupancy of the Premises and the Improvements (hereinafter collectively referred to as the "Equipment"), including any leases of, deposits in connection with, and proceeds of any sale or transfer of any of the foregoing, and the right, title and interest of Trustor in and to any of the Equipment that may be subject to any "security interest" as defined in the Uniform Commercial Code, as in effect in the State where the Trust Property is located (the "UCC'), superior in lien to the lien of this Deed of Trust; (c) all awards or payments, including interest thereon, that may heretofore or. hereafter be made with respect to the Premises or the Improvements, whether from the exercise of the right of eminent domain or condemnation (including any transfer made in lieu of or in anticipation of the exercise of such right), or for a change of grade, or for any other injury to or decrease in the value of the Premises or Improvements; (d) all leases, subleases and other agreements or arrangements heretofore or hereafter entered into affecting the use, enjoyment or occupancy of, or the conduct of any activity upon or in, the Premises or the Improvements, including any extensions, renewals, modifications or amendments thereof (hereinafter collectively referred to as the "Leases") and all rents, rent equivalents, moneys payable as damages (including payments by reason of the rejection of a Lease in a Bankruptcy Proceeding or in lieu of rent or rent equivalents), royalties (including all oil and gas or other mineral royalties and bonuses), income, fees, receivables, receipts, revenues, deposits (including security, utility and other deposits), accounts, cash, issues, profits, charges for services rendered, and other consideration of whatever form or nature received by or paid to or for the account of or benefit of Trustor or its agents or employees from any and all sources arising from or attributable to the Premises and the Improvements, including all receivables, customer obligations, installment payment obligations and other obligations now existing or hereafter arising or created out of the sale, lease, sublease, license, concession or other grant of the right of the use and occupancy of the Premises or the Improvements, or rendering of services by Trustor or any of its agents or employees, and proceeds, if any, from business interruption or other loss of income insurance (hereinafter collectively referred to as the "Rents"), together with all proceeds from the sale or other disposition of the Leases and the right to receive and apply the Rents to the payment of the Debt; 2 20131024001185.005 (e) all proceeds of and any unearned premiums on any insurance policies covering the Trust Property, including, without limitation, the right to receive and apply the proceeds of any insurance,judgments,or settlements made in lieu thereof, for damage to the Trust Property; (f) the right, in the name and on behalf of Trustor, to appear in and defend any action or proceeding brought with respect to the Trust Property and to commence any action or proceeding to protect the interest of Beneficiary in the Trust Property; (g) all accounts (including reserve accounts), escrows, documents, instruments, chattel paper, claims, deposits and general intangibles, as the foregoing terms are defined in the UCC,and all franchises,trade names,trademarks, symbols, service marks, books,records, plans, specifications, designs, drawings, surveys, title insurance policies, permits, consents, licenses, management agreements, contract rights(including any contract with any architect or engineer or with any other provider of goods or services for or in connection with any construction, repair or other work upon the Trust Property), approvals, actions, refunds of real estate taxes and assessments (and any other governmental impositions related to the Trust Property) and causes of action that now or hereafter relate to, are derived from or are used in connection with the Trust Property, or the use, operation, maintenance, occupancy or enjoyment thereof or the conduct of any business or activities thereon(hereinafter collectively referred to as the"Intangibles"); and (h) all proceeds, products, offspring, rents and profits from any of the foregoing, including those from sale, exchange, transfer, collection, loss, damage, disposition, substitution or replacement of any of the foregoing. Without limiting the generality of any of the foregoing, in the event that a case under the Bankruptcy Code is commenced by or against Trustor, pursuant to Section 552(b)(2) of the Bankruptcy Code, the security interest granted by this Deed of Trust shall automatically extend to all Rents acquired by the Trustor after the commencement of the case and shall constitute cash collateral under Section 363(a)of the Bankruptcy Code. TO HAVE AND TO HOLD the Trust Property unto and to the use and benefit of Beneficiary and its successors and assigns, forever; PROVIDED,HOWEVER, these presents are upon the express condition that, if Trustor shall well and truly pay to Beneficiary the Debt at the time and in the manner provided in the Loan Documents and shall well and truly abide by and comply with each and every covenant and condition set forth in the Loan Documents in a timely manner, these presents and the estate hereby granted shall cease,terminate and be void; AND Trustor represents and warrants to and covenants and agrees with Beneficiary as follows: PART I -GENERAL PROVISIONS 1. Payment of Debt and Incorporation of Covenants, Conditions and Agreements. Trustor shall pay the Debt at the time and in the manner provided in the Loan Documents. All the covenants, conditions and agreements contained in the Loan Documents are hereby made a part of this Deed of Trust to the same extent and with the same force as if fully set 3 20131024001185.006 forth herein. Without limiting the generality of the foregoing, Trustor(i)agrees to insure, repair, maintain and restore damage to the Trust Property, pay Taxes and Other Charges, and comply with Legal Requirements, in accordance with the Loan Agreement, and (ii)agrees that the Proceeds of Insurance and Awards for Condemnation shall be settled, held and applied in accordance with the Loan Agreement. 2. Leases and Rents, (a) Trustor does hereby absolutely and unconditionally assign to Beneficiary all of Trustor's right, title and interest in all current and future Leases and Rents, it being intended by Trustor that this assignment constitutes a present, absolute assignment and not an assignment for additional security only. Such assignment shall not be construed to bind Beneficiary to the performance of any of the covenants or provisions contained in any Lease or otherwise impose any obligation upon Beneficiary. Nevertheless, subject to the terms of this paragraph, Beneficiary grants to Trustor a revocable license to operate and manage the Trust Property and to collect the Rents subject to the requirements of the Loan Agreement (including the deposit of Rents into the Clearing Account). Upon an Event of Default, without the need for notice or demand, the license granted to Trustor herein shall automatically be revoked, and Beneficiary shall immediately be entitled to possession of all Rents in the Clearing Account, the Deposit Account(including all Subaccounts thereof)and all Rents collected thereafter(including Rents past due and unpaid), whether or not Beneficiary enters upon or takes control of the Trust Property. Trustor hereby grants and assigns to Beneficiary the right, at its option, upon revocation of the license granted herein, to enter upon the Trust Property in person, by agent or by court-appointed receiver to collect the Rents. Any Rents collected after the revocation of such license may be applied toward payment of the Debt in such priority and proportions as Beneficiary in its sole discretion shall deem proper. (b) Trustor shall not enter into, modify, amend, cancel, terminate or renew any Lease except as provided in Section 6.10 of the Loan Agreement. 3. Use of Trust Property. Trustor shall not initiate,join in, acquiesce in or consent to any change in any private restrictive covenant, zoning law or other public or private restriction, limiting or defining the uses which may be made of the Trust Property. If under applicable zoning provisions the use of the Trust Property is or shall become a nonconforming use, Trustor shall not cause or permit such nonconforming use to be discontinued or abandoned without the consent of Beneficiary. Trustor shall not (i)change the use of the Trust Property, (ii)permit or suffer to occur any waste on or to the Trust Property or (iii)take any steps to convert the Trust Property to a condominium or cooperative form of ownership. 4. Transfer or Encumbrance of the Trust Property. (a) Trustor acknowledges that (i)Beneficiary has examined and relied on the creditworthiness and experience of the principals of Trustor in owning and operating properties such as the Trust Property in agreeing to make the Loan, (ii) Beneficiary will continue to rely on Trustor's ownership of the Trust Property as a means of maintaining the value of the Trust Property as security for the Debt, and (iii)Beneficiary has a valid interest in maintaining the value of the Trust Property so as to ensure that, should Trustor default in the repayment of the 4 20131024001185.007 Debt, Beneficiary can recover the Debt by a sale of the Trust Property. Trustor shall not sell, convey, alienate, mortgage, encumber, pledge or otherwise transfer the Trust Property or any part thereof,or suffer or permit any Transfer to occur,other than a Permitted Transfer. (b) Beneficiary shall not be required to demonstrate any actual impairment of its security or any increased risk of default hereunder in order to declare the Debt immediately due and payable upon Transfer in violation of this Paragraph 4. This provision shall apply to every sale, conveyance, alienation, mortgage, encumbrance, pledge or transfer of the Trust Property (and every other Transfer) regardless of whether voluntary or not. Any Transfer made in contravention of this Paragraph 4 shall be null and void and of no force and effect. Trustor agrees to bear and shall pay or reimburse Beneficiary on demand for all reasonable expenses (including reasonable attorneys' fees and disbursements, title search costs and title insurance endorsement premiums) incurred by Beneficiary in connection with the review, approval and documentation of any Permitted Transfer. 5. Changes in Laws Regarding Taxation. If any law is enacted or adopted or amended after the date of this Deed of Trust which deducts the Debt from the value of the Trust Property for the purpose of taxation or which imposes a tax,either directly or indirectly, on the Debt or Beneficiary's interest in the Trust Property, Trustor will pay such tax, with interest and penalties thereon, if any. If Beneficiary is advised by its counsel that the payment of such tax or interest and penalties by Trustor would be unlawful, taxable to Beneficiary or unenforceable, or would provide the basis for a defense of usury, then Beneficiary shall have the option,by notice of not less than 90 days,to declare the Debt immediately due and payable. 6. No Credits on Account of the Debt. Trustor shall not claim or demand or be entitled to any credit on account of the Debt for any part of the Taxes or Other Charges assessed against the Trust Property, and no deduction shall otherwise be made or claimed from the assessed value of the Trust Property for real estate tax purposes by reason of this Deed of Trust or the Debt. If such claim, credit or deduction shall be required by law, Beneficiary shall have the option, by notice of not less than 90 days, to declare the Debt immediately due and payable. 7. Further Acts, Etc. Trustor shall, at its sole cost, do execute, acknowledge and deliver all and every such further acts, deeds, conveyances, mortgages, assignments, notices of assignment, transfers and assurances as Beneficiary shall, from time to time, require, for the better assuring, conveying, assigning, transferring, and confirming unto Beneficiary the property and rights hereby mortgaged, given, granted, bargained, sold, alienated, enfeoffed, conveyed, confirmed, pledged, assigned and hypothecated or intended now or hereafter so to be, or which Trustor may be or may hereafter become bound to convey or assign to Beneficiary, or for carrying out the intention or facilitating the performance of the terms of this Deed of Trust, or for filing, registering or recording this Deed of Trust or for facilitating the sale and transfer of the Loan and the Loan Documents in connection with a Secondary Market Transaction as described in Section 10.1 of the Loan Agreement. Upon foreclosure, the appointment of a receiver or any other relevant action, Trustor shall, at its sole cost, cooperate fully and completely to effect the assignment or transfer of any license,permit,agreement or any other right necessary or useful to the operation of the Trust Property. Trustor grants to Beneficiary an irrevocable power of attorney coupled with an interest for the purpose of 5 20131024001185.008 exercising and perfecting any and all rights and remedies available to Beneficiary at law and in equity, including such rights and remedies available to Beneficiary pursuant to this paragraph. Notwithstanding anything to the contrary in the immediately preceding sentence, Beneficiary shall not execute any document as attorney-in-fact of Trustor unless (x) Trustor shall have failed or refused to execute the same within five(5)Business Days after Beneficiary's request therefor, or (y) in Beneficiary's good faith determination it would be materially prejudiced by the delay involved in making such a request. Beneficiary shall give prompt notice to Trustor of any exercise of the power of attorney as provided for in this Paragraph 7, along with copies of all documents executed in connection therewith. 8. Recording of Deed of Trust, Etc. Trustor forthwith upon the execution and delivery of this Deed of Trust and thereafter, from time to time, shall cause this Deed of Trust, and any security instrument creating a lien or security interest or evidencing the lien hereof upon the Trust Property and each instrument of further assurance to be filed, registered or recorded in such manner and in such places as may be required by any present or future law in order to publish notice of and fully to protect the lien or security interest hereof upon, and the interest of Beneficiary in, the Trust Property. Trustor shall pay all filing, registration or recording fees, all expenses incident to the preparation, execution and acknowledgment of and all federal, state, county and municipal, taxes, duties, imposts,documentary stamps, assessments and charges arising out of or in connection with the execution and delivery of, this Deed of Trust, any Deed of Trust supplemental hereto, any security instrument with respect to the Trust Property or any instrument of further assurance, except where prohibited by law so to do. Trustor shall hold harmless and indemnify Beneficiary, its successors and assigns, against any liability incurred by reason of the imposition of any tax on the making or recording of this Deed of Trust. 9. Right to Cure Defaults. Upon the occurrence of any Event of Default, Beneficiary may, but without any obligation to do so and without notice to or demand on Trustor and without releasing Trustor from any obligation hereunder, perform the obligations in Default in such manner and to such extent as Beneficiary may deem necessary to protect the security hereof. Beneficiary is authorized to enter upon the Trust Property for such purposes or appear in, defend or bring any action or proceeding to protect its interest in the Trust Property or to foreclose this Deed of Trust or collect the Debt, and the cost and expense thereof (including reasonable attorneys' fees and disbursements to the extent permitted by law), with interest thereon at the Default Rate for the period after notice from Beneficiary that such cost or expense was incurred to the date of payment to Beneficiary, shall constitute a portion of the Debt, shall be secured by this Deed of Trust and the other Loan Documents and shall be due and payable to Beneficiary upon demand. 10. Remedies. (a) Upon the occurrence of any Event of Default, Beneficiary may take such action, without notice or demand, as it deems advisable to protect and enforce its rights against Trustor and in and to the Trust Property, by Beneficiary itself or otherwise, including the following actions, each of which may be pursued concurrently or otherwise, at such time and in such order as Beneficiary may determine, in its sole discretion, without impairing or otherwise affecting the other rights and remedies of Beneficiary: 6 201 31 024001 1 85.009 (i) declare the entire Debt to be immediately due and payable; (ii) give such notice of default and of election to cause the Trust Property to be sold as may be required by law or as may be necessary to cause Trustee to exercise the power of sale granted herein; Trustee shall then record and give such notice of Trustee's sale as then required by law and, after the expiration of such time as may be required by law, may sell the Trust Property at the time and place specified in the notice of sale, as a whole or in separate parcels as directed by Beneficiary, or by Trustor to the extent required by law, at public auction to the highest bidder for cash in lawful money of the United States, payable at time of sale, all in accordance with applicable law. Trustee, from time to time, may postpone or continue the sale of all or any portion of the Trust Property by public declaration at the time and place last appointed for the sale and no other notice of the postponed sale shall be required unless provided by applicable law. Upon any sale, Trustee shall deliver its deed conveying the property sold, without any covenant or warranty, expressed or implied, to the purchaser or purchasers at the sale. The recitals in such deed of any matters or facts shall be conclusive as to the accuracy thereof; (iii) institute a proceeding or proceedings,judicial or nonjudicial, to the extent permitted by law, by advertisement or otherwise, for the complete foreclosure of this Deed of Trust, in which case the Trust Property may be sold for cash or upon credit in one or more parcels or in several interests or portions and in any order or manner; (iv) with or without entry, to the extent permitted and pursuant to the procedures provided by applicable law, institute proceedings for the partial foreclosure of this Deed of Trust for the portion of the Debt then due and payable, subject to the continuing lien of this Deed of Trust for the balance of the Debt not then due; (v) sell for cash or upon credit the Trust Property and all estate, claim, demand, right, title and interest of Trustor therein and rights of redemption thereof, pursuant to the power of sale, to the extent permitted by law, or otherwise, at one or more sales, as an entirety or in parcels, at such time and place, upon such terms and after such notice thereof as may be required or permitted by law; (vi) institute an action, suit or proceeding in equity for the specific performance of any covenant, condition or agreement contained herein or in any other Loan Document; (vii) recover judgment on the Note either before, during or after any proceeding for the enforcement of this Deed of Trust; (viii) apply for the appointment of a trustee, receiver, liquidator or conservator of the Trust Property, without notice and without regard for the adequacy of the security for the Debt and without regard for the solvency of the Trustor or of any person, firm or other entity liable for the payment of the Debt; (ix) enforce Beneficiary's interest in the Leases and Rents and enter into or upon the Trust Property, either personally or by its agents, nominees or attorneys 7 20131024001185.010 and dispossess Trustor and its agents and employees therefrom, and thereupon Beneficiary may (A) use, operate, manage, control, insure, maintain, repair, restore and otherwise deal with the Trust Property and conduct the business thereat; (B) complete any construction on the Trust Property in such manner and form as Beneficiary deems advisable; (C) make alterations, additions, renewals, replacements and improvements to or on the Trust Property; (D)exercise all rights and powers of Trustor with respect to the Trust Property, whether in the name of Trustor or otherwise, including the right to make, cancel, enforce or modify Leases, obtain and evict tenants, and demand, sue for, collect and receive Rents; and (E) apply the receipts from the Trust Property to the payment of the Debt, after deducting therefrom all expenses (including reasonable attorneys' fees and disbursements) incurred in connection with the aforesaid operations and all amounts necessary to pay the Taxes, insurance and other charges in connection with the Trust Property, as well as just and reasonable compensation for the services of Beneficiary, and its counsel, agents and employees; (x) require Trustor to pay monthly in advance to Beneficiary, or any receiver appointed to collect the Rents, the fair and reasonable rental value for the use and occupation of any portion of the Trust Property occupied by Trustor, and require Trustor to vacate and surrender possession of the Trust Property to Beneficiary or to such receiver,and, in default thereof,evict Trustor by summary proceedings or otherwise; or (xi) pursue such other rights and remedies as may be available at law or in equity or under the UCC, including the right to receive and/or establish a lock box for all Rents and proceeds from the Intangibles and any other receivables or rights to payments of Trustor relating to the Trust Property. In the event of a sale,by foreclosure or otherwise, of less than all of the Trust Property,this Deed of Trust shall continue as a lien on the remaining portion of the Trust Property. (b) The proceeds of any sale made under or by virtue of this Paragraph 10, together with any other sums which then may be held by Beneficiary under this Deed of Trust, whether under the provisions of this paragraph or otherwise, shall be applied by Beneficiary to the payment of the Debt in such priority and proportion as Beneficiary in its sole discretion shall deem proper. (c) Beneficiary may adjourn from time to time any sale by it to be made under or by virtue of this Deed of Trust by announcement at the time and place appointed for such sale or for such adjourned sale or sales; and, except as otherwise provided by any applicable law, Beneficiary, without further notice or publication, may make such sale at the time and place to which the same shall be so adjourned. (d) Upon the completion of any sale or sales pursuant hereto, Beneficiary, or an officer of any court empowered to do so, shall execute and deliver to the accepted purchaser or purchasers a good and sufficient instrument, or good and sufficient instruments, conveying, assigning and transferring all estate, right, title and interest in and to the property and rights sold. Beneficiary is hereby irrevocably appointed the true and lawful attorney of Trustor, in its name and stead, to make all necessary conveyances, assignments, transfers and deliveries of the Trust 8 20131024001185.011 Property and rights so sold and for that purpose Beneficiary may execute all necessary instruments of conveyance, assignment and transfer, and may substitute one or more persons with like power, Trustor hereby ratifying and confirming all that its said attorney or such substitute or substitutes shall lawfully do by virtue hereof. Any sale or sales made under or by virtue of this Paragraph 10, whether made under the power of sale herein granted or under or by virtue of judicial proceedings or of a judgment or decree of foreclosure and sale, shall operate to divest all the estate, right, title, interest, claim and demand whatsoever, whether at law or in equity, of Trustor in and to the properties and rights so sold, and shall be a perpetual bar both at law and in equity against Trustor and against any and all persons claiming or who may claim the same,or any part thereof, from,through or under Trustor. (e) Upon any sale made under or by virtue of this Paragraph 10, whether made under a power of sale or under or by virtue of judicial proceedings or of a judgment or decree of foreclosure and sale, Beneficiary may bid for and acquire the Trust Property or any part thereof and in lieu of paying cash therefor may make settlement for the purchase price by crediting upon the Debt the net sales price after deducting therefrom the expenses of the sale and costs of the action and any other sums which Beneficiary is authorized to deduct under this Deed of Trust or any other Loan Document. (f) No recovery of any judgment by Beneficiary and no levy of an execution under any judgment upon the Trust Property or upon any other property of Trustor shall affect in any manner or to any extent the lien of this Deed of Trust upon the Trust Property or any part thereof, or any liens, rights, powers or remedies of Beneficiary hereunder, but such liens, rights, powers and remedies of Beneficiary shall continue unimpaired as before. (g) Beneficiary may terminate or rescind any proceeding or other action brought in connection with its exercise of the remedies provided in this Paragraph 10 at any time before the conclusion thereof, as determined in Beneficiary's sole discretion and without prejudice to Beneficiary. (h) Beneficiary may resort to any remedies and the security given by this Deed of Trust or in any other Loan Document in whole or in part, and in such portions and in such order as determined by Beneficiary's sole discretion. No such action shall in any way be considered a waiver of any rights, benefits or remedies evidenced or provided by any Loan Document. The failure of Beneficiary to exercise any right, remedy or option provided in any Loan Document shall not be deemed a waiver of such right, remedy or option or of any covenant or obligation secured by any Loan Document. No acceptance by Beneficiary of any payment after the occurrence of any Event of Default and no payment by Beneficiary of any obligation for which Trustor is liable hereunder shall be deemed to waive or cure any Event of Default, or Trustor's liability to pay such obligation. No sale of all or any portion of the Trust Property, no forbearance on the part of Beneficiary, and no extension of time for the payment of the whole or any portion of the Debt or any other indulgence given by Beneficiary to Trustor, shall operate to release or in any manner affect the interest of Beneficiary in the remaining Trust Property or the liability of Trustor to pay the Debt. No waiver by Beneficiary shall be effective unless it is in writing and then only to the extent specifically stated. All costs and expenses of Beneficiary in exercising its rights and remedies under this Paragraph 10 (including reasonable attorneys' fees and disbursements to the extent permitted by law), shall be paid by Trustor immediately upon 9 20131024001185,012 notice from Beneficiary, with interest at the Default Rate for the period after notice from Beneficiary, and such costs and expenses shall constitute a portion of the Debt and shall be secured by this Deed of Trust. (i) The interests and rights of Beneficiary under the Loan Documents shall not be impaired by any indulgence, including (i) any renewal, extension or modification which Beneficiary may grant with respect to any of the Debt, (ii) any surrender, compromise, release, renewal, extension, exchange or substitution which Beneficiary may grant with respect to the Trust Property or any portion thereof or (iii) any release or indulgence granted to any maker, endorser, guarantor or surety of any of the Debt. 11, Right of Entry. In addition to any other rights or remedies granted under this Deed of Trust, Beneficiary and its agents shall have the right to enter and inspect the Trust Property at any reasonable time during the term of this Deed of Trust. The cost of such inspections or audits shall be borne by Trustor should Beneficiary determine that an Event of Default exists, including the cost of all follow up or additional investigations or inquiries deemed reasonably necessary by Beneficiary. The cost of such inspections, if not paid for by Trustor following demand, may be added to the principal balance of the sums due under the Note and this Deed of Trust and shall bear interest thereafter until paid at the Default Rate. 12. Security Agreement, This Deed of Trust is both a real property deed of trust and a "security agreement" within the meaning of the UCC. The Trust Property includes both real and personal property and all other rights and interests, whether tangible or intangible in nature, of Trustor in the Trust Property. Trustor by executing and delivering this Deed of Trust has granted and hereby grants to Beneficiary, as security for the Debt, a security interest in the Trust Property to the full extent that the Trust Property may be subject to the UCC (such portion of the Trust Property so subject to the UCC being called in this paragraph the "Collateral"). This Deed of Trust shall also constitute a "fixture filing" for the purposes of the UCC. As such, this Deed of Trust covers all items of the Collateral that are or are to become fixtures. Information concerning the security interest herein granted may be obtained from the parties at the addresses of the parties set forth in the first paragraph of this Deed of Trust. If an Event of Default shall occur, Beneficiary, in addition to any other rights and remedies which it may have, shall have and may exercise immediately and without demand, any and all rights and remedies granted to a secured party upon default under the UCC, including, without limiting the generality of the foregoing, the right to take possession of the Collateral or any part thereof, and to take such other measures as Beneficiary may deem necessary for the care, protection and preservation of the Collateral. Upon request or demand of Beneficiary, Trustor shall at its expense assemble the Collateral and make it available to Beneficiary at a convenient place acceptable to Beneficiary. Trustor shall pay to Beneficiary on demand any and all expenses, including reasonable attorneys' fees and disbursements, incurred or paid by Beneficiary in protecting the interest in the Collateral and in enforcing the rights hereunder with respect to the Collateral. Any notice of sale,disposition or other intended action by Beneficiary with respect to the Collateral, sent to Trustor in accordance with the provisions hereof at least ten days prior to such action, shall constitute commercially reasonable notice to Trustor. The proceeds of any disposition of the Collateral, or any part thereof, may be applied by Beneficiary to the payment of the Debt in such priority and proportions as Beneficiary in its sole discretion shall deem proper. In the event of any change in name, identity or structure of Trustor, Trustor shall notify 10 20131024001185.013 Beneficiary thereof and promptly after request shall execute, file and record such UCC forms as are necessary to maintain the priority of Beneficiary's lien upon and security interest in the Collateral, and shall pay all expenses and fees in connection with the filing and recording thereof. If Beneficiary shall require the filing or recording of additional UCC forms or continuation statements, Trustor shall, promptly after request, execute, file and record such UCC forms or continuation statements as Beneficiary shall deem necessary, and shall pay all expenses and fees in connection with the filing and recording thereof, it being understood and agreed, however, that no such additional documents shall increase Trustor's obligations under the Loan Documents. 13. Actions and Proceedings. Beneficiary has the right to appear in and defend any action or proceeding brought with respect to the Trust Property and to bring any action or proceeding, in the name and on behalf of Trustor, which Beneficiary, in its sole discretion, decides should be brought to protect its or their interest in the Trust Property. Beneficiary shall, at its option, be subrogated to the lien of any deed of trust or other security instrument discharged in whole or in part by the Debt, and any such subrogation rights shall constitute additional security for the payment of the Debt. 14. Marshalling and Other Matters. Trustor hereby waives, to the extent permitted by law, the benefit of all appraisement, valuation, stay, extension, reinstatement and redemption laws now or hereafter in force and all rights of marshalling in the event of any sale hereunder of the Trust Property or any part thereof or any interest therein. Further, Trustor hereby expressly waives any and all rights of redemption from sale under any order or decree of foreclosure of this Deed of Trust on behalf of Trustor, and on behalf of each and every person acquiring any interest in or title to the Trust Property subsequent to the date of this Deed of Trust and on behalf of all persons to the extent permitted by applicable law. The lien of this Deed of Trust shall be absolute and unconditional and shall not in any manner be affected or impaired by any acts or omissions whatsoever of Beneficiary and, without limiting the generality of the foregoing, the lien hereof shall not be impaired by (i)any acceptance by Beneficiary of any other security for any portion of the Debt, (ii) any failure, neglect or omission on the part of Beneficiary to realize upon or protect any portion of the Debt or any collateral security therefor or (iii) any release (except as to the property released), sale, pledge, surrender, compromise, settlement, renewal, extension, indulgence, alteration, change, modification or disposition of any portion of the Debt or of any of the collateral security therefor; and Beneficiary may foreclose, or exercise any other remedy available to Beneficiary under other Loan Documents without first exercising or enforcing any of its remedies under this Deed of Trust, and any exercise of the rights and remedies of Beneficiary hereunder shall not in any manner impair the Debt or the liens of any other Loan Document or any of Beneficiary's rights and remedies thereunder. 15. Notices. All notices, consents, approvals and requests required or permitted hereunder shall be in writing, and shall be sent, and shall be deemed effective, as provided in the Loan Agreement. 16. Inapplicable Provisions. If any term,covenant or condition of this Deed of Trust is held to be invalid, illegal or unenforceable in any respect, this Deed of Trust shall be construed without such provision. 11 20131024001185.014 17. Headings. The paragraph headings in this Deed of Trust are for convenience of reference only and are not to be construed as defining or limiting, in any way, the scope or intent of the provisions hereof. 18. Duplicate Originals. This Deed of Trust may be executed in any number of duplicate originals and each such duplicate original shall be deemed to be an original. 19. Definitions. Unless the context clearly indicates a contrary intent or unless otherwise specifically provided herein, words used in this Deed of Trust may be used interchangeably in singular or plural form;and the word"Trustor"shall mean"each Trustor and any subsequent owner or owners of the Trust Property or any part thereof or any interest therein," the word "Beneficiary" shall mean `Beneficiary and any subsequent holder of the Note," the words "Trust Property" shall include any portion of the Trust Property and any interest therein, the word "including" means "including but not limited to" and the words "attorneys'fees" shall include any and all attorneys' fees, paralegal and law clerk fees, including fees at the pre-trial, trial and appellate levels incurred or paid by Beneficiary in protecting its interest in the Trust Property and Collateral and enforcing its rights hereunder. 20. Homestead_. Trustor hereby waives and renounces all homestead and exemption rights provided by the Constitution and the laws of the United States and of any state, in and to the Trust Property as against the collection of the Debt, or any part thereof. 21. Assignments. Beneficiary shall have the right to assign or transfer its rights under this Deed of Trust without limitation. Any assignee or transferee shall be entitled to all the benefits afforded Beneficiary under this Deed of Trust. 22. Waiver of Jury Trial. TRUSTOR HEREBY AGREES NOT TO ELECT A TRIAL BY JURY OF ANY ISSUE TRIABLE OF RIGHT BY JURY, AND WAIVES ANY RIGHT TO TRIAL BY JURY FULLY TO THE EXTENT THAT ANY SUCH RIGHT SHALL NOW OR HEREAFTER EXIST WITH REGARD TO THIS DEED OF TRUST OR ANY OTHER LOAN DOCUMENT, OR ANY CLAIM, COUNTERCLAIM OR OTHER ACTION ARISING IN CONNECTION THEREWITH. THIS WAIVER OF RIGHT TO TRIAL BY JURY IS GIVEN KNOWINGLY AND VOLUNTARILY BY TRUSTOR, AND IS INTENDED TO ENCOMPASS INDIVIDUALLY EACH INSTANCE AND EACH ISSUE AS TO WHICH THE RIGHT TO A TRIAL BY JURY WOULD OTHERWISE ACCRUE. BENEFICIARY IS HEREBY AUTHORIZED TO FILE A COPY OF THIS PARAGRAPH IN ANY PROCEEDING AS CONCLUSIVE EVIDENCE OF THIS WAIVER BY TRUSTOR. 23. Consents. Any consent or approval by Beneficiary in any single instance shall not be deemed or construed to be Beneficiary's consent or approval in any like matter arising at a subsequent date,and the failure of Beneficiary to promptly exercise any right, power, remedy, consent or approval provided herein or at law or in equity shall not constitute or be construed as a waiver of the same nor shall Beneficiary be estopped from exercising such right, power, remedy, consent or approval at a later date. Any consent or approval requested of and granted by Beneficiary pursuant hereto shall be narrowly construed to be applicable only to Trustor and the matter identified in such consent or approval and no third party shall claim any l2 20131024001185.015 benefit by reason thereof, and any such consent or approval shall not be deemed to constitute Beneficiary a venturer or partner with Trustor nor shall privity of contract be presumed to have been established with any such third party. If Beneficiary deems it to be in its best interest to retain assistance of persons, firms or corporations (including attorneys; title insurance companies, appraisers, engineers and surveyors) with respect to a request for consent or approval, Trustor shall reimburse Beneficiary for all costs reasonably incurred in connection with the employment of such persons, firms or corporations. 24. Loan Repayment and Defeasance. Provided no Event of Default exists, the Lien of this Deed of Trust shall be terminated, released and reconveyed of record by Beneficiary(and the Trustee, to the extent required by law to effect a full and proper termination, release and reconveyance) prior to the Maturity Date only in accordance with the terms and provisions set forth in the Loan Agreement. 25. Governing Law. THE LAW OF THE STATE OF WASHINGTON WITHOUT REGARD TO CONFLICTS OF LAWS PRINCIPLES SHALL GOVERN ALL MATTERS RELATING TO THIS DEED OF TRUST AND THE OTHER LOAN DOCUMENTS AND ALL OF THE INDEBTEDNESS OR OBLIGATIONS ARISING HEREUNDER OR THEREUNDER. ALL PROVISIONS OF THE LOAN AGREEMENT INCORPORATED HEREIN BY REFERENCE SHALL BE GOVERNED BY, AND CONSTRUED IN ACCORDANCE WITH, THE LAWS OF THE STATE OF WASHINGTON WITHOUT REGARD TO CONFLICTS OF LAWS PRINCIPLES, AS SET FORTH IN THE GOVERNING LAW PROVISION OF THE LOAN AGREEMENT. 26. Exculpation. The liability of Trustor hereunder is limited pursuant to Section 3.1 of the Loan Agreement. 27. Trustee; Successor Trustee. Trustee shall not be liable for any error of judgment or act done by Trustee, or be otherwise responsible or accountable under any circumstances whatsoever, except if the result of Trustee's gross negligence or willful misconduct. Trustee shall not be personally liable in case of entry by him or anyone acting by virtue of the powers herein granted him upon the Trust Property for debts contracted or liability or damages or damages incurred in the management or operation of the Trust Property. Trustee shall have the right to rely on any instrument, document or signature authorizing or supporting any action taken or proposed to be taken by him hereunder or believed by him to be genuine. Trustee shall be entitled to reimbursement for actual expenses incurred by him in the performance of his duties hereunder and to reasonable compensation for such of his services hereunder as shall be rendered. Trustor will, from time to time, reimburse Trustee for and save and hold him harmless from and against any and all loss, cost, liability, damage and reasonable expense whatsoever incurred by him in the performance of his duties. All monies received by Trustee shall,until used or applied as herein provided, be held in trust for the purposes for which they were received, but need not be segregated in any manner from any other monies (except to the extent required by law) and Trustee shall be under no liability for interest on any monies received by him hereunder. Trustee may resign by giving of notice of such resignation in writing to Beneficiary. If Trustee shall die,resign or become disqualified from acting in the execution of this trust or shall fail or refuse to exercise the same when requested by Beneficiary or if for any or no reason and without cause Beneficiary shall prefer to appoint a substitute trustee to act 13 20131024001185.016 instead of the original Trustee named herein, or any prior successor or substitute trustee, Beneficiary shall, without any formality or notice to Trustor or any other person,have full power to appoint a substitute trustee and, if Beneficiary so elects, several substitute trustees in succession who shall succeed to all the estate, rights, powers and duties of the aforenamed Trustee. Each appointment and substitution shall be evidenced by an instrument in writing which shall recite the parties to, and the book and page of record of, this Deed of Trust, and the description of the real property herein described, which instrument, executed and acknowledged by Beneficiary, when recorded in the appropriate land records of King County, Washington, shall (i)be conclusive proof of the proper substitution and appointment of such successor Trustee or Trustees, (ii)duly assign and transfer all the estates, properties, rights, powers and trusts of Trustee so ceasing to act and (iii)be notice of such proper substitution and appointment to all parties in interest. In addition, such Trustee ceasing to act shall duly assign, transfer, and deliver any of the property and monies held by Trustee to the successor Trustee so appointed in its or his place. The Trustee may act in the execution of this trust and may authorize one or more parties to act on his behalf to perform the ministerial functions required of him hereunder, including without limitation,the transmittal and posting of any notices and it shall not be necessary for any Trustee to be present in person at any foreclosure sale. PART II -STATE-SPECIFIC PROVISIONS 28. Conflicts With Part I. In the event of any conflict between the provisions of this Part II and any provision of Part I, then the provisions of this Part II shall control. 29. Acceleration; Remedies. Beneficiary shall give notice to Trustor prior to acceleration following Trustor's breach of any covenant or agreement in this Deed of Trust (but not prior to acceleration resulting from an Event of Default described in paragraph (f) or (g) of . Section 9.1 of the Loan Agreement, unless applicable law provides otherwise). The notice shall specify: (a) the default; (b) the action required to cure the default; (c) a date, not less than 30 days from the date the notice is given to Trustor, by which the default must be cured;and (d)that failure to cure the default on or before the date specified in the notice may result in acceleration of the sums secured by this Deed of Trust and sale of the Property at public auction at a date not less than 120 days in the future. The notice shall further inform Trustor of the right to reinstate after acceleration, the right to bring a court action to assert the non-existence of a default or any other defense of Trustor to acceleration and sale, and any other matters required to be included in the notice by any applicable law. If the default is not cured on or before the date specified in the notice, Beneficiary at its option, may require immediate payment in full of all sums secured by this Deed of Trust without further demand and may invoke the power of sale and/or any other remedies permitted by any applicable law. Beneficiary shall be entitled to collect all expenses incurred in pursuing the remedies provided in this Section 29, including, but not limited to, reasonable attorneys' fees and costs of title evidence. (a) If Beneficiary invokes the power of sale, Beneficiary shall give written notice to Trustee of the occurrence of an event of default and of Beneficiary's election to cause the Property to be sold. Trustee and Beneficiary shall take such action regarding notice of sale and shall give such notices to Trustor and to other persons as any applicable law may require. After the time required by any applicable law and after publication of the notice of sale, Trustee, 14 20131024001185.017 without demand on Trustor, shall sell the Property at public auction to the highest bidder at the time and place and under the terms designated in the notice of sale in one or more parcels and in any order Trustee determines. Trustee may postpone sale of the Property for a period or periods permitted by applicable law by public announcement at the time and place fixed in the notice of sale. Beneficiary or its designee may purchase the Property at any sale. (b) Trustee shall deliver to the purchaser Trustee's deed conveying the Property without any covenant or warranty, expressed or implied. The recitals in the Trustee's deed shall be prima facie evidence of the truth of the statements made therein. Trustee shall apply the proceeds of the sale in the following order: (a) to all expenses of the sale, including, but not limited to, reasonable Trustee's and attorneys' fees; (b) to all sums secured by this Deed of Trust; and (c) any excess to the person or persons legally entitled to it or to the clerk of the superior court of the county in which the sale took place. 30. Reconveyance. Upon payment of all sums secured by this Deed of Trust, Beneficiary shall request Trustee to reconvey the Property and shall surrender this Deed of Trust and all notes evidencing debt secured by this Deed of Trust to Trustee. Trustee shall reconvey the Property without warranty to the person or persons legally entitled to it. Such person or persons shall pay any recordation costs and the Trustee's fee for preparing the reconveyance. 31. Substitute Trustee. In accordance with applicable law, Beneficiary may from time to time appoint a successor trustee to any Trustee appointed hereunder who has ceased to act. Without conveyance of the Property, the successor trustee shall succeed to all the title, power and duties conferred upon Trustee herein and by applicable law. 32. Use of Property. The Property is not used principally for agricultural purposes. 33. Attorneys' Fees. Beneficiary shall be entitled to recover its reasonable attorneys' fees and costs in any action or proceeding to construe or enforce any term of this Deed of Trust. The term "attorneys' fees," whenever used in this Deed of Trust, shall include without limitation attorneys' fees incurred by Beneficiary in any bankruptcy proceeding or on appeal. 34. ORAL AGREEMENTS OR ORAL COMMITMENTS TO LOAN MONEY, EXTEND CREDIT, OR TO FORBEAR FROM ENFORCING REPAYMENT OF A DEBT ARE NOT ENFORCEABLE UNDER WASHINGTON LAW. [NO FURTHER TEXT ON THIS PAGE] 15 201 31 024001 1 85.018 IN WITNESS WHEREOF, Trustor has executed this instrument as of the day and year first above written. Trustor: ARGO RENTON,LLC, a Delaware limited Iiability company By: SUNCOR PARTNERS,LLC,a Delaware limited liability, its Manager By: CORVALLIS SUNSET PARTNERS, LLC, an Oregon limited liability company, its Manager By: ARGONAUT INVESTMENTS, LLC, a Delaware limited liability company(with respect to Series 2), its Manager By: Name: Step B.Jaeger Title: Manager STATE OF L'At,FD,Q,1/4 ) ) SS: COUNTY OF /hA 2, N ) On the /714 day of PGA)6.9r , in the year Za/- , before me, the undersigned, personally appeared personally known to me or proved to me on the basis of satisfactory evidence to be the individual(s)-whose name(s)is(ace) subscribed to the within instrument and acknowledged to me that he/she/they executed the same in his/herkhcir capacity, and that by his/her/their signature(a) on the instrument,the individual(s)-or the person(s)-upon behalf of which the individuals)acted, executed the instrument. •�„ JOSEPH T.LAUGHUN I "quoin 7 _ G>tv - Commission No. 1944377 it NO PUBLIC 71 NOTARY PUBLIC•CALIFORN1A l MARIN COUNTY ` [Seal] ! •s My Comm Enures JULY 15.2015 #{ Deed of Trust Signature Page 20131024001185.019 EXHIBIT A Legal Description LOTS 1, 2, 3 AND 5, CENTRAL HIGHLANDS PLAZA, A BINDING SITE PLAN, ACCORDING TO THE PLAT THEREOF RECORDED IN VOLUME 176 OF PLATS, PAGES 76 AND 77, SAID PLAT BEING AN AMENDMENT OF THE PLAT RECORDED IN VOLUME 141 OF PLATS, PAGES 59 AND 60, RECORDS OF KING COUNTY WASHINGTON. NY:I522313.2 20140117000693.001 Electronically Recorded 20140117000693 SIMPLIFILE ADT 16.00 Page 001 of 003 01/1 7/201 4 11:01 King County,WA THIS DOCUMENT PREPARED BY AND UPON RECORDATION RETURN TO: ANDERSON,McCOY&ORTA,P.C. 100 North Broadway, Suite 2600 Oklahoma City,Oklahoma 73102 DOCUMENT TITLE: ASSIGNMENT OF DEED OF TRUST BORROWER(S): Argo Renton,LLC,a Delaware limited liability company GRANTOR/ASSIGNOR: THE BANCORP BANK,a Delaware state-chartered bank GRANTEE/ASSIGNEE: U.S. BANK NATIONAL ASSOCIATION, AS TRUSTEE, ON BEHALF OF THE REGISTERED HOLDERS OF CITIGROUP COMMERCIAL MORTGAGE SECURITIES INC., COMMERCIAL MORTGAGE PASS-THROUGH CERTIFICATES, SERIES 2013-GC17 having an address at 190 S. LaSalle Street, 7th Floor,Chicago,IL 60603("Assignee") PROPERTY DESCRIPTION: 1. Parcel Number(s): 149450-0010-08,149450-0020-06, 149450-0030-04 and 149450-0050-09 2. SHORT LEGAL DESCRIPTION:Lots 1,2,3 & 5,Central Highlands Plaza BSP (176/76) RECORDING NUMBER REFERENCES: #20131024001185 20140117000693.002 KNOW THAT THE BANCORP BANK,a Delaware state-chartered bank,having an address at 712 Fifth Avenue, 1 lth Floor,New York,NY 10117("Assignor"), For valuable consideration given by: U.S. BANK NATIONAL ASSOCIATION, AS TRUSTEE, ON BEHALF OF THE REGISTERED HOLDERS OF CITIGROUP COMMERCIAL MORTGAGE SECURITIES INC., COMMERCIAL MORTGAGE PASS-THROUGH CERTIFICATES, SERIES 2013-GC17, having an address at 190 S. LaSalle Street, 7th Floor,Chicago, IL 60603 ("Assignee"), the receipt and sufficiency of which is hereby acknowledged, Assignor does hereby grant, bargain, sell, convey, assign, transfer, and set over, without recourse, representation and warranty, all of Assignor's right, title and interest, of any kind whatsoever, including that of mortgagee, beneficiary, payee, assignee or secured party (as the case may be), in and to the following: DEED OF TRUST, ASSIGNMENT OF LEASES AND RENTS AND SECURITY AGREEMENT (as same may have been amended) by Argo Renton, LLC, a Delaware limited liability company ("Borrower"), to Assignor, and recorded October 24, 2013, as Instrument Number 20131024001185, in the Real Estate Records pertaining to the land situated in the State of Washington,County of King("Real Estate Records"); TO HAVE AND TO HOLD the same unto the Assignee and to the successors, legal representatives and assigns of the Assignee forever. (The remainder of this page has been intentionally left blank.) • AMO Ref.:4302.003 Loan/File Name:Renton Central Highlands Plaza Custodian Ref.: 20131024001186.001 1ST WI 1 91° AFTER RECORDING MAIL TO: Wachtel Missry LLPOne Dog Hammarsjold jJ� 885 Second Avenue,47th PFl or laza !!! 311Vz1ERICRN SNR40®1186 New York,New York 10017 10/24/20131509 80.00 Attn: Mitch Fenton KING COUNTY, 32 •'s ""`"' First American Title Document Title(s): " Insurance Company Assignment of Leases and Rents Reference Number(s): (this space for title company use only) Grantor(s): ARGO Renton,LLC Grantee:The Bancorp Bank Trustee: First American Title Insurance Company Abbreviated Legal Description as follows: Lots 1,2,3&5,Central Highlands Plaza BSP(176/76) Assessor's Property Tax Parcel/Account Number(s): 149450-0010-08; 149450-0020-06; 149450-0030-04;and 149450-0050-09 NOTE:The auditor/recorder will rely on the information on the form. The staff will not read the document to verify the accuracy or completeness of the indexing information provided herein. RECORDPA 20131024001186.002 THIS DOCUMENT PREPARED BY AND RECORDING REQUESTED BY AND WHEN RECORDED MAIL TO: Wachtel Missry LLP One Dag Hammarskjold Plaza 885 Second Avenue, 47th Floor New York,New York 10017 Attention: Mitch Fenton ASSIGNMENT OF LEASES AND RENTS Dated and effective as of October 24,2013 between ARGO RENTON, LLC as Assignor and THE BANCORP BANK as Assignee Property Location: 4601-4621 NE Sunset Blvd. Renton, WA 20131024001186.003 THIS ASSIGNMENT OF LEASES AND RENTS (this "Assignment') dated and effective as of the 24th day of October, 2013 made by ARGO RENTON, LLC, a Delaware limited liability company, having an office at 770 Tamalpais Drive, Suite 401-B, Corte Madera, California 94925 ("Assignor"), to THE BANCORP BANK, a Delaware state-chartered bank (together with its successors and assigns, hereinafter referred to as "Assignee") having an address at 712 5`h Avenue, 11th Floor,New York, NY 10019. WITNESSETH : WHEREAS, Assignor is the owner of a fee simple title to that certain parcel of real property (the "Premises") described in Exhibit A attached hereto, together with the buildings, structures, fixtures, additions, enlargements, extensions, modifications,repairs, replacements and other improvements now or hereafter located thereon(collectively, the"Property"); WHEREAS,Assignor and Assignee have entered into a certain Loan Agreement dated as of the date hereof(as amended, modified, restated, consolidated or supplemented from time to time, the "Loan Agreement") pursuant to which Assignee has agreed to make a secured loan to Assignor in the maximum principal amount of$6.550,000(the"Loan"). WHEREAS, Assignor has executed a note in such principal amount(as the same may be amended, modified, restated, severed, consolidated, renewed, replaced, or supplemented from time to time,the"Note"),which is secured by, inter alia, that certain deed of trust, assignment of leases and rents and security agreement (as the same may be amended, modified, consolidated, split, supplemented, replaced or otherwise modified from time to time, the "Mortgage") on the Property. WHEREAS, it is a condition to the obligation of Assignee to make the Loan to Assignor pursuant to the Loan Agreement that Assignor execute and deliver this Assignment; WHEREAS,this Assignment is being given as additional security for the Loan; and WHEREAS, capitalized terms used in this Assignment without definition have the respective meanings assigned to such terms in the Loan Agreement or the Mortgage, as the case may be, the terms of each of which are specifically incorporated by reference herein. NOW, THEREFORE, for good and valuable consideration, receipt of which by the parties hereto is hereby acknowledged, and additionally for the purpose of additionally securing the Debt, Assignor hereby assigns, transfers, conveys and sets over unto Assignee, all right, title and interest of Assignor in and to all Leases and all Rents; TO HAVE AND TO HOLD the same unto Assignee, and its successors and assigns forever, upon the terms and conditions and for the uses hereinafter set forth. And Assignor hereby further agrees as follows: 20131024001186.004 1. Certain Representations. Warranties and Covenants. Assignor represents, warrants and covenants to Assignee that: (a) The payment of the Rents to accrue under any Lease will not be waived, released,reduced, discounted or otherwise discharged or compromised by Assignor; (b) Assignor has not performed, and will not perform, any acts, and has not executed, and will not execute, any instrument that would prevent Assignee from exercising its rights under this Assignment; and (c) Assignor hereby authorizes and directs any tenant under any of the Leases and any successor to all or any part of the interests of any such tenant to pay directly to the Clearing Account, in accordance with the terms of the Loan Agreement, the Rents due and to become due under such tenant's Lease, and such authorization and direction shall be sufficient warrant to the tenant to make future payments of Rents directly to the Clearing Account in accordance with the terms of the Loan Agreement without the necessity for further consent by Assignor. 2. Assignment; Deferred Exercise of Rights. (a) As part of the consideration for the Debt, Assignor does hereby absolutely and unconditionally assign to Assignee all right, title and interest of Assignor in and to all present and future Leases and Rents, and this Assignment constitutes a present and absolute assignment and is intended to be unconditional and not as an assignment for additional security only. It is further intended that it not be necessary for Assignee to institute legal proceedings, absent any requirements of law or regulation to the contrary, to enforce the provisions hereof. Assignor hereby authorizes Assignee or its agents to collect the Rents; provided, however, that prior to an Event of Default, and subject at all times to the requirement that payments and deposits of Rents be made directly to the Clearing Account, Assignor shall have a revocable license, but limited as provided in this Assignment and in any of the other Loan Documents, to otherwise deal with,and enjoy the rights of the lessor under,the Leases. (b) Upon the occurrence and during the continuance of an Event of Default, and without the necessity of Assignee entering upon and taking and maintaining full control of the Property in person, by agent or by court-appointed receiver, the license referred to in paragraph(a)above shall immediately be revoked and Assignee shall have the right at its option, to exercise all rights and remedies contained in the Loan Documents, or otherwise available at law or in equity. 3. Rents Held in Trust by Assignor. Rents held or received by Assignor shall be held or received by Assignor as trustee for the benefit of Assignee only and shall immediately be deposited directly to the Clearing Account in accordance with the terms of the Loan Agreement. 4. Effect on Rights Under Other Documents. Nothing contained in this Assignment and no act done or omitted by Assignee pursuant to the powers and rights granted it hereunder shall be deemed to be a waiver by Assignee of its rights and remedies under any of the other Loan Documents, and this Assignment is made and accepted without prejudice to any of the rights and remedies possessed by Assignee under the terms of the other Loan Documents. The 2 20131024001186.005 rights of Assignee under the other Loan Documents may be exercised by Assignee either prior to, simultaneously with, or subsequent to any action taken by it hereunder. This Assignment is intended to be supplementary to and not in substitution for or in derogation of any assignment of rents or grant of a security interest contained in any of the other Loan Documents. 5. Event of Default. Upon or at any time after the occurrence and during the continuance of an Event of Default, then in addition to and without limiting any of Assignee's rights and remedies hereunder and under the other Loan Documents and as otherwise available at law or in equity: (a) Assignee may, at its option, without waiving such Event of Default and without regard to the adequacy of the security for the Debt, either in person or by agent,without bringing any action or proceeding, or by a receiver appointed by a court, without taking possession of the Property in its own name, demand, sue for or otherwise collect and receive all Rents, including those past-due and unpaid, for application to the payment of the Debt in accordance with the terms of the Loan Documents, and Assignee may enter into, and to the extent that Assignor would have the right to do so, cancel, enforce or modify any Lease. The exercise by Assignee of the option granted it in this Section and the collection of the Rents and the application thereof as herein provided shall not be considered a waiver of any Event of Default. (b) Assignor hereby acknowledges and agrees that payment of any item of Rent by a Person to Assignee as hereinabove provided shall constitute payment in full of such item of Rent by such Person, as fully and with the same effect as if it had been paid to Assignor. (c) Assignee in respect of the Leases and Rents shall have all of the rights and remedies of a secured party under the Uniform Commercial Code as in effect in the State in which such rights and remedies are asserted as described in Section 12(b) to the extent of such rights thereunder and additional rights and remedies to which a secured party is entitled under the laws in effect in any jurisdiction where any rights and remedies hereunder may be asserted. 6. Application of Rents and Proceeds. After the occurrence and during the continuance of an Event of Default, Rents received or held by Assignor or Assignee shall be applied in accordance with the terms of the Loan Documents. 7. Attorney-in-Fact. Upon the occurrence and during the continuance of any Event of Default,Assignor hereby appoints Assignee the attorney-in-fact of Assignor to take any action and execute any instruments that Assignor is obligated, or has covenanted and agreed under the Loan Agreement or the other Loan Documents to take or execute, which appointment as attorney-in-fact is irrevocable and coupled with an interest. Without limiting the generality of the foregoing provisions of this Section 7, upon the occurrence and during the continuance of an Event of Default, Assignor does hereby irrevocably appoint Assignee as its attorney-in-fact with full power, in the name and stead of Assignor to demand, collect, receive and give complete acquittance for any and all of the Rents now due or that may hereafter become due, and at Assignee's discretion, to file any claim, to take any other action, to institute any proceeding or to make any settlement of any claim, either in its own name or in the name of Assignor or 3 20131024001186.006 • otherwise, which Assignee may deem necessary or desirable in order to collect and enforce the payment of Rents. 8. Termination. Assignee, by the acceptance of this Assignment, agrees that when all of the Debt shall have been paid in full, this.Assignment shall terminate, and Assignee shall execute and deliver to Assignor, upon such termination such instruments of termination or re- assignment and Uniform Commercial Code termination statements, all without recourse and without any representation or warranty whatsoever, as shall be reasonably requested by Assignor. 9. Expenses. Assignor agrees to pay to Assignee all out-of-pocket expenses (including expenses for attorneys' fees and costs of every kind) of, or incident to, the enforcement of any of the provisions of this Assignment or performance by Assignee of any obligation of Assignor hereunder which Assignor has failed or refused to perform. 10. Further Assurances. Assignor agrees that, from time to time upon the written request of Assignee, it will give, execute, deliver, file and/or record any financing statements, notice, instrument, document, agreement or other papers and do such other acts and things that may be necessary and desirable to create,preserve, perfect or validate this Assignment, to enable Assignee to exercise and enforce its rights hereunder with respect to this Assignment or to otherwise carry out the purposes and intent of this Assignment. 11. No Obligation by Assignee. By virtue of this Assignment, Assignee shall not be obligated to perform or discharge, nor does it hereby undertake to perform or discharge, any obligation, duty or liability under any of the Leases. This Assignment shall not operate to constitute Assignee as a lender in possession of the Property or to place responsibility for the control, care, management or repair of the Property upon Assignee, nor shall it operate to make Assignee responsible or liable for any waste committed on the Property by any tenant or other party in possession or for any dangerous or defective condition of the Property or for any negligence in the management,upkeep,repair or control thereof. 12. Miscellaneous. (a) No failure on the part of Assignee or any of its agents to exercise, and no course of dealing with respect to, and no delay in exercising, any right, power or remedy hereunder shall operate as a waiver thereof; nor shall any single or partial exercise by Assignee or any of its agents of any right, power or remedy hereunder preclude any other or further exercise thereof or the exercise of any other right, power or remedy. Subject to Section 16 hereof, the remedies herein are cumulative and are not exclusive of any remedies provided by law. (b) THE LAW OF THE STATE OF WASHINGTON WITHOUT REGARD TO CONFLICTS OF LAWS PRINCIPLES SHALL GOVERN ALL MATTERS RELATING TO THIS ASSIGNMENT AND THE OTHER LOAN DOCUMENTS AND ALL OF THE INDEBTEDNESS OR OBLIGATIONS ARISING HEREUNDER OR THEREUNDER. ALL PROVISIONS OF THE LOAN AGREEMENT INCORPORATED HEREIN BY REFERENCE SHALL BE GOVERNED BY, AND CONSTRUED IN ACCORDANCE WITH, THE LAWS 4 20131024001186.007 OF THE STATE OF WASHINGTON WITHOUT REGARD TO CONFLICTS OF LAWS PRINCIPLES, AS SET FORTH IN THE GOVERNING LAW PROVISION OF THE LOAN AGREEMENT. (c) Subject to Section 16 hereof, all rights and remedies set forth in this Assignment are cumulative, and Assignee may recover judgment thereon, issue execution therefor, and resort to every other right or remedy available at law or in equity, without first exhausting and without affecting or impairing the security of any right or remedy afforded hereby; and no such right or remedy set forth in this Assignment shall be deemed exclusive of any of the remedies or rights granted to Assignee in any of the Loan Documents. Nothing contained in this Assignment shall be deemed to limit or restrict the rights and remedies of Assignee under the Loan Agreement or any of the other Loan Documents. (d) Until the indebtedness and all other obligations secured by the Loan Documents is paid in full, Assignor will, upon request, deliver from time to time to Assignee executed originals to the extent available, otherwise photocopies certified by Assignor as true, correct and complete, of executed originals, of any and all existing Leases to which Assignor is a party,and executed originals,or photocopies of executed originals,so certified by Assignor, if an executed original is not available, of all other and future Leases to which Assignor is a party, and upon request of Assignee, will specifically transfer and assign to Assignee such other and future Leases upon the same terms and conditions as herein contained. (e) Assignor represents that it: (i)has been advised that Assignee engages in the business of real estate financings and other real estate transactions and investments which may be viewed as adverse to or competitive with the business of Assignor or its affiliates; (ii)is represented by competent counsel and has consulted counsel before executing this Assignment; and(iii) has relied solely on its own judgment and on its counsel and advisors in entering into the transaction(s) contemplated hereby without relying in any manner on any statements, representations or recommendations of Assignee or any parent, subsidiary or affiliate of Assignee. 13. No Oral Change. This Assignment may not be amended except by an instrument in writing signed by Assignor and Assignee. 14. Successors and Assigns. Assignor may not assign its rights under this Assignment except as permitted under the Loan Agreement. Subject to the foregoing, this Assignment shall be binding upon, and shall inure to the benefit of, Assignor and Assignee and their respective successors and assigns. 15. Notices. All notices, requests and other communications provided for herein shall be given or made in writing in the manner specified in the Loan Agreement. 16. Exculpation. It is expressly agreed that recourse against Assignor for failure to perform and observe its obligations contained in this Assignment shall be limited as and to the extent provided in Section 3.1 of the Loan Agreement. [NO FURTHER TEXT ON THIS PAGE) 5 20131024001186.008 IN WITNESS WHEREOF,this Assignment has been duly executed by Assignor as of the day and year first above written. ASSIGNOR: ARGO RENTON,LLC, a Delaware limited liability company By: SUNCOR PARTNERS,LLC,a Delaware limited liability, its Manager By: CORVALLIS SUNSET PARTNERS, LLC, an Oregon limited liability company, its Manager By: ARGONAUT INVESTMENTS, LLC,a Delaware limited liability company(with respect to Series 2), its Manager By: am . Stephen B.Jaeger itle: Manager STATE OF eAC /FOX•A-IA ) ) SS: COUNTY OF 4',+/2 i,✓ ) On the 17'' day of D e fD &i , in the year ZO/3, before me, the undersigned, personally appeared S1 e,o h e" 8• 3u e3 e personally known to me or proved to me on the basis of satisfactory evidence to be the individual(erwhose name(s)'is(arej'subscribed to the within instrument and acknowledged to me that he/shefthey executed the same in his/hex/their capacity, and that by his/her/their signature(s)- on the instrument, the individual(s)-or the person(s)-upon behalf of which the individual(s)-acted, executed the instrument. L. J08 PE H T G1iUN °� commission No. sowa1Pl�'� /w sat �t . NOTARY PUBLIC-CALIFORNIA NO PUBLIC i IA RIN COUNTY [Seal] m Mk Cae.Expires JULY te,2015 Assignment of Leases and Rents Signature Page 20131024001186.009 EXHIBIT A Description of Property LOTS 1, 2, 3 AND 5, CENTRAL HIGHLANDS PLAZA, A BINDING SITE PLAN, ACCORDING TO THE PLAT THEREOF RECORDED IN VOLUME 176 OF PLATS, PAGES 76 AND 77, SAID PLAT BEING AN AMENDMENT OF THE PLAT RECORDED IN VOLUME 141 OF PLATS, PAGES 59 AND 60, RECORDS OF KING COUNTY WASHINGTON. Assignment of Leases and Rents Signature Page 20140117000694 001 Electronically Recorded 20140117000694 SIMPLIFILE A 34.00 Page 001 of 003 01/1 7/201 4 11:01 King County,WA THIS DOCUMENT PREPARED BY AND UPON RECORDATION RETURN TO: ANDERSON,McCOY&ORTA,P.C. 100 North Broadway,Suite 2600 Oklahoma City,Oklahoma 73102 DOCUMENT TITLE: ASSIGNMENT OF ASSIGNMENT OF LEASES AND RENTS BORROWER(S): Argo Renton,LLC,a Delaware limited liability company GRANTOR/ASSIGNOR: THE BANCORP BANK,a Delaware state-chartered bank GRANTEE/ASSIGNEE: U.S. BANK NATIONAL ASSOCIATION, AS TRUSTEE, ON BEHALF OF THE REGISTERED HOLDERS OF CITIGROUP COMMERCIAL MORTGAGE SECURITIES INC., COMMERCIAL MORTGAGE PASS-THROUGH CERTIFICATES, SERIES 2013-GC17 having an address at 190 S. LaSalle Street, 7th Floor,Chicago,IL 60603("Assignee") PROPERTY DESCRIPTION: 1. Parcel Number(s): 149450-0010-08,149450-0020-06, 149450-0030-04 and 149450-0050-09 2. SHORT LEGAL DESCRIPTION: Lots 1,2,3&5,Central Highlands Plaza BSP (176/76) • RECORDING NUMBER REFERENCES: #2013102.4001186 20140117000694.002 KNOW THAT THE BANCORP BANK, a Delaware state-chartered bank, having an address at 712 Fifth Avenue,llth Floor,New York,NY 10117("Assignor"), For valuable consideration given by: U.S. BANK NATIONAL ASSOCIATION, AS TRUSTEE, ON BEHALF OF THE REGISTERED HOLDERS OF CITIGROUP COMMERCIAL MORTGAGE SECURITIES INC.. COMMERCIAL MORTGAGE PASS-THROUGH CERTIFICATES, SERIES 2013-GC17, having an address at 190 S. LaSalle Street, 7th Floor,Chicago,IL 60603("Assignee"), the receipt and sufficiency of which is hereby acknowledged,Assignor does hereby grant, bargain, sell, convey, assign, transfer, and set over, without recourse, representation and warranty,all of Assignor's right,title and interest, of any kind whatsoever,including that of mortgagee,beneficiary,payee,assignee or secured party (as the case may be),in and to the following: ASSIGNMENT OF LEASES AND RENTS (as same may have been amended) by Argo Renton,LLC, a Delaware limited liability company ("Borrower"), to Assignor, and recorded October 24, 2013, as Instrument Number 20131024001186, in the Real Estate Records pertaining to the land situated in the State of Washington, County of King("Real Estate Records"); TO HAVE AND TO HOLD the same unto the Assignee and to the successors, legal representatives and assigns of the Assignee forever. (The remainder of this page has been intentionally left blank) AMO Ref.:4502.003 Loan/File Name:Renton Central Highlands Plaza Custodian Ref.: 20140117000694.003 IN WITNESS WHEREOF,the Assignor has caused this instrument to be executed this I 0 day of January,2014. ASSIGNOR: THE BANCORP BANK,a Delaware state-chartered bank Name:Ale Ley ov Title: Vice President, Commercial Mortgage Securitization ACKNOWLEDGEMENT STATE OF NEW YORK ) COUNTY OF NEW YORK ) On the l a day.of January, 2014, before me, the undersigned, a Notary Public in and for said state,personally appeared Alex Leybov,as Vice President,Commercial Mortgage Securitization of The Bancorp Bank, personally known to me or proved to me on the basis of satisfactory evidence to be the person who executed the foregoing instrument, and he thereupon duly acknowledged to me that he executed the same to be his free act and deed. WITNESS my hand and official seal. My Commission Expires: Signature: '✓W . Notary Public SOCORRO D. FARGAS Notary Public,State of New York No.01FA6228060 Qualified in New York County Commission Expires 09/13/2014 20131024001187.001 ?iP-06 3 -G Sir- UCC FINANCING STATEMENT FOLLOW INSTRUCTIONS A.NAMES PHONE OF CONTACT AT FILER(optional) B.E-MAIL CONTACT AT FILER(optional) 201310240 01187 C.SEND ACKNOWLEDGMENT TO; (Name end Address) FIRST AMERICAN UCC 75.00 PAGE-001 OF 004 EWACHTEL MISSRY LLP 10/24/2013 15:32 KING COUNTY, WA ONE DAG HAMMARSKJOLD PLAZA 885 SECOND AVENUE,47TH FLOOR NEW YORK,NEW YORK 10017 LATTENTION: ROBERT BOURGUIGNON J THE ABOVE SPACE IS FOR FILING OFFICE USE ONLY 1.DEBTOR'S NAME: Provide only au Debtor name(la or lb)(use exact,full nomo;do not onriL modify,or abbreviate any part of the Debtors name)If any part of the IndMduat Debtor's name WI not thin One 10,leave all of Item I blank,check here a and provide the IndMdual Debtor Irdormatlon m Item 10 of the Financing Statement Addendum(Form UCC1Ad) in.ORGANIZATION'S NAME ARGO RENTON,LLC OR lb.INOMDUAL'S SURNAME FIRST PERSONAL NAME ADDITIONAL NAME(S)/INITIAL(S) SUFFIX 1c.MAILING ADDRESS CITY STATE POSTAL CODE COUNTRY 770 TAMALPAIS DRIVE,SUITE 401-B CORTE MADERA CA 94925 USA 2.DEBTOR'S NAME: Provide only gas Debtor name(2o or 2b)(use aaati,full name;do not omll,modify,or abbreviate eery part of the Debtor's name);If any part of the Individual Debtor's name wit not fit In he 2b,leave ell of Item 2 blank,check here 0 and provide the badMdual Debtor Informetlon In Item SO of the Financing Statement Addendum(Form UCC1Ad) 2e.ORGANIZATION'S NAME OR 2b.INDIVIDUAL'S SURNAME FIRST PERSONAL NAME ADDITIONAL.NAME(S)IINITIAL(S) SUFFIX 2a.MAILING ADDRESS CITY STATE POSTAL CODE COUNTRY 3.SECURED PARTY'S NAME(or NAME of ASSIGNEE of ASSIGNOR SECURED PARTY):Provide only an Secured Party name(3e or 34 3a.ORGANIZATIONS NAME THE BANCORP BANK OR 3b.INDIVIDUAL'S SURNAME FIRST PERSONAL NAME ADDITIONAL NAME(S)INITIAL(S) SUFFIX 3c.MAIUNOADDRESS CITY STATE POSTAL CODE COUNTRY 712 FIFTH AVENUE,11TH FLOOR NEW YORK NY 10019 USA 4.COLLATERAL: TWa financing etelemm(coven the foaming collateral: SEE EXHIBIT"A"ATTACHED HERETO AND MADE A PART HEREOF. l 4 CI4S0 (D I W ct i-(Sv - Dom, - oco . I y 14-t3o • z 8.Check aabr if applicable end check galy one bac Coealeat Is held in a Trust(see UCC1Ad,Item 17 and Instructions) p being administered by a Decedent's Passional Representative Es,Check anti II applicable and check pppr one box: Sb.Check way If applIcable and check only me box: Pub2GRnanco Transaction Q Manutadurod-Nome Transaction A Debtor Is a Tranamlling Utility Agricultural Uon BNet-UCC Fling 7.ALTERNATIVE DESIGNATION(If applicable): �Leesee/Lesuor Consigner/MonsignorElSellotlauyer Gollee/Bellor Llconsee:Licensor B.OPTIONAL FILER REFERENCE DATA: TO BE FILED WITH THE PUBLIC RECORDS OF ICING COUNTY,WASHINGTON International Assoclallon of Commercial Administrators(IACA) FILING OFFICE COPY UCC FINANCING STATEMENT(Form UCCI)(Rev.04/20/11) , 20131024001187.002 ,T,XHIBIT"A" attached to UCC-1 Financing Statement ARGO RENTON,LLC,as Debtor THE BANCORP BANK,as Secured Party All of Debtor's right, title, and interest in and to the land described on Schedule A (the "Premises"), and the buildings, structures, fixtures and other improvements now or hereafter located thereon(the"Improvements"),TOGETHER WITH: all right,title, interest and estate of Debtor now owned,or hereafter acquired, in and to the following property, rights, interests and estates(the Premises,the Improvements, and the property,rights,interests and estates hereinafter described are collectively referred to herein as the"Trust Property"): (a) all easements, rights-of-way, strips and gores of land, streets, ways, alleys, passages, sewer rights,water,water courses,water rights and powers, air rights and development rights, rights to oil, gas, minerals, coal and other substances of any kind or character, and all estates, rights, titles, interests, privileges, liberties, tenements, hereditaments and appurtenances of any nature whatsoever, in any way belonging, relating or pertaining to the Premises and the Improvements; and the reversion and reversions,remainder and remainders,and all land lying in the bed of any street,road,highway, alley or avenue,opened,vacated or proposed, in front of or adjoining the Premises, to the center line thereof; and all the estates, rights, titles, interests, dower and rights of dower,curtesy and rights of curtesy,property,possession,claim and demand whatsoever,both at law and in equity,of Debtor of,in and to the Premises and the Improvements and every part and parcel thereof,with the appurtenances thereto; (b) all machinery, furniture, furnishings, equipment, computer software and hardware, fixtures (including all heating, air conditioning, plumbing, lighting, communications and elevator fixtures), inventory, materials,supplies and other articles of personal property and accessions thereof, renewals and replacements thereof and substitutions therefor, and other property of every kind and nature, tangible or intangible, owned by Debtor, or in which Debtor has or shall have an interest,now or hereafter located upon the Premises or the Improvements,or appurtenant thereto,and usable in connection with the present or future operation and occupancy of the Premises and the Improvements (hereinafter collectively referred to as the"Equipment"), including any leases of,deposits in connection with, and proceeds of any sale or transfer of any of the foregoing, and the right, title and interest of Debtor in and to any of the Equipment that may be subject to any "security interest" as defined in the Uniform Commercial Code, as in effect in the State where the Trust Property is located(the"UCC'), superior in lien to the lien of this financing statement; (c) all awards or payments, including interest thereon, that may heretofore or hereafter be made with respect to the Premises or the Improvements, whether from the exercise of the right of eminent domain or condemnation (including any transfer made in lieu of or in anticipation of the exercise of such right), or for a change of grade, or for any other injury to or decrease in the value of the Premises or Improvements; (d) all leases,subleases and other agreements or arrangements heretofore or hereafter entered into affecting the use,enjoyment or occupancy of,or the conduct of any activity upon or in, the Premises or the Improvements, including any extensions, renewals, modifications or Exhibit A—Page 1 I2.xx.UCC-1 Financing Statement Exhibit 20131024001187.003 fi amendments thereof (hereinafter collectively referred to as the "Leases") and all rents, rent equivalents, moneys payable as damages (including payments by reason of the rejection of a Lease in connection with any petition by a tenant under any state or federal bankruptcy or insolvency law or the liquidation of all or a major portion of its property or in lieu of rent or rent equivalents),royalties(including all oil and gas or other mineral royalties and bonuses), income, fees, receivables, receipts, revenues, deposits (including security, utility and other deposits), accounts,cash,issues,profits,charges for services rendered,and other consideration of whatever form or nature received by or paid to or for the account of or benefit of Debtor or its agents or employees from any and all sources arising from or attributable to the Premises and the Improvements, including all receivables, customer obligations, installment payment obligations and other obligations now existing or hereafter arising or created out of the sale, lease, sublease, license, concession or other grant of the right of the use and occupancy of the Premises or the Improvements, or rendering of services by Debtor or any of its agents or employees, and proceeds, if any, from business interruption or other loss of income insurance (hereinafter collectively referred to as the "Rents"), together with all proceeds from the sale or other disposition of the Leases and the right to receive and apply the Rents to the payment of sums due and owing to Secured Party; (e) all proceeds of and any unearned premiums on any insurance policies covering the Trust Property, including, without limitation, the right to receive and apply the proceeds of any insurance,judgments,or settlements made in lieu thereof,for damage to the Trust Property; (f) the right,in the name and on behalf of Debtor,to appear in and defend any action or proceeding brought with respect to the Trust Property and to commence any action or proceeding to protect the interest of Beneficiary in the Trust Property; (g) all accounts (including reserve accounts), escrows, documents, instruments, chattel paper,claims, deposits and general intangibles, as the foregoing terms are defined in the UCC,and all franchises,trade names,trademarks,symbols,service marks,books,records,plans, specifications, designs, drawings, surveys, title insurance policies, permits, consents, licenses, management agreements,contract rights(including any contract with any architect or engineer or with any other provider of goods or services for or in connection with any construction,repair or other work upon the Trust Property), approvals, actions, refunds of real estate taxes and assessments (and any other governmental impositions related to the Trust Property) and causes of action that now or hereafter relate to,are derived from or are used in connection with the Trust Property,or the use, operation,maintenance, occupancy or enjoyment thereof or the conduct of any business or activities thereon(hereinafter collectively referred to as the`intangibles");and (h) all proceeds, products, offspring, rents and profits from any of the foregoing, including those from sale, exchange, transfer, collection, loss, damage, disposition, substitution or replacement of any of the foregoing. Exhibit A—Page 2 12.xx.UCC-!Financing Statement Exhibit 20131024001187.004 SCHEDULE A Legal Description LOTS 1, 2, 3 AND 5, CENTRAL HIGHLANDS PLAZA, A BINDING SITE PLAN, ACCORDING TO THE PLAT THEREOF RECORDED IN VOLUME 176 OF PLATS,PAGES 76 AND 77, SAID PLAT BEING AN AMENDMENT OF THE PLAT RECORDED IN VOLUME 141 OF PLATS, PAGES 59 AND 60, RECORDS OF KING COUNTY WASHINGTON. • Exhibit A--Page 3 12.xx.UCC•1 Financing Statement Exhibit C - (�i 06 3 _J' 20131024001187.001 11 �5J UCC FINANCING STATEMENT FOLLOW INSTRUCTIONS A.NAMES PHONE OF CONTACT AT FILER(optional) B.E•MAIL CONTACT AT FILER(optional) 20131024001187 C.SEND ACKNOWLEDGMENT TO: (Name and Address) FIRST AMERICAN UCC 75.00 PAGE-001 OF 004 FWACHTEL MISSRY LLP KING4COUNTY15WA2 ONE DAG HAMMARSKJOLD PLAZA 885 SECOND AVENUE,47TH FLOOR NEW YORK,NEW YORK 10017 LATTENTION: ROBERT BOURGUIGNON J THE ABOVE SPACE IS FOR FILING OFFICE USE ONLY 1.DEBTOR'S NAME: Provide only gag Dishier name(la is lb)(use exact,Jul name;do not anal,modify,or sbbreviato any part of the Debtor's name);If any part of the IndMdust Debtor's name wit not at In One lb,leave all of Item 1 blank,chock here❑and provide the IndMdual Debtor Information In Item 10 of the Finandng Statement Addendum(Form UCC1Ad) 1a.ORGANIZATIONS NAME ARGO RENTON,LLC OR lb.INDIVIDUAL'S SURNAME FIRST PERSONAL NAME ADDITIONAL NAME(S)ANITIAL(S) SUFFIX IC. MAILING ADDRESS CITY STATE POSTAL CODE COUNTRY 770 TAMALPAIS DRIVE,SUITE 401-B CORTE MADERA CA 94925 USA 2.DEBTOR'S NAME: Provlde only go Debtor name(2e of 2b)(use exact,full name;do not anal,modify,or abbreviate any part of the Debtor's name);U any part of the Individual Debtor's name will not III In line 2b,leave all of Item 2 blm,k,check hem Q and provide the tndMdual Debtor Information In Item 10 of the Flnamdng Statement Addendum(Form UCC1Ad) 2a.ORGANIZATION'S NAME OR 2b.INDNIDUAI:S SURNAME FIRST PERSONAL NAME ADDITIONAL NAME(S)INITIAL(8) SUFFIX 2e.MAIUNG ADDRESS CITY STATE POSTAL CODE COUNTRY 3.SECURED PARTY'S NAME(or NAME of ASSIGNEE of ASSIGNOR SECURED PARTY):Provide only one Secured Party name 13a or 3b) 'Sa.ORGANIZATIONS NAME THE BANCORP BANK OR 3b.INDIVIDUAL'8 SURNAME FIRST PERSONAL NAME ADDITIONAL NAME(SyINITIAL(S) SUFFIX 3c.MAIUNOADDRESS CITY STATE POSTAL CODE COUNTRY 712 FIFTH AVENUE,11TH FLOOR NEW YORK NY 10019 USA 4.COLLATERAL: TNs flaming statement covens the blowing collateral: — SEE EXHIBIT"A"ATTACHED HERETO AND MADE A PART HEREOF. f +-4ct ilea - 6D5o • oC1 E.Cheek only If applicable and check in*one bun Collateral Is a held In a Trust(see UCC1Ad,Item 17 and Instructions) p being administered bye Decedent's Personal Representative So.Check nely It apptcable and check Antic one box: Sb.Check gab If applicable and check gala one box: Q Pubto.Rnance Trensakslan I1 Manufactured-Home Transaction Q A Debtor Is a Transmitting Utalty n Agricultural Lion No•UCC Fling 7.ALTERNATIVE DESIGNATION(If applicable): Leosee/Lesaor CJ Consignee/Consignor El Seller/Buyer ( J GaileetDeltor Licensee/Licensor 8.OPTIONAL FILER REFERENCE DATA: TO BE FILED WITH THE PUBLIC RECORDS OF ICING COUNTY,WASHINGTON International Association of Commercial Administrators(IACA) FILING OFFICE COPY UCC FINANCING STATEMENT(Form UCCI)(Rev.G4/20/11) 201 31 024001 1 87.002 • EXHIBIT"A" attached to UCC-1 Financing Statement ARGO RENTON,LLC,as Debtor THE BANCORP BANK,as Secured Party All of Debtor's right, title, and interest in and to the land described on Schedule A (the "Premises"), and the buildings, structures, fixtures and other improvements now or hereafter located thereon(the"Improvements"),TOGETHER WITH: all right,title,interest and estate of Debtor now owned, or hereafter acquired, in and to the following property, rights, interests and estates(the Premises,the Improvements,and the property,rights,interests and estates hereinafter described are collectively referred to herein as the"Trust Property"): (a) all easements, rights-of-way, strips and gores of land, streets, ways, alleys, passages, sewer rights,water,water courses,water rights and powers, air rights and development rights, rights to oil, gas, minerals, coal and other substances of any kind or character, and all estates, rights, titles, interests, privileges, liberties, tenements, hereditaments and appurtenances of any nature whatsoever, in any way belonging, relating or pertaining to the Premises and the Improvements;and the reversion and reversions,remainder and remainders,and all land lying in the bed of any street,road,highway, alley or avenue,opened,vacated or proposed, in front of or adjoining the Premises, to the center line thereof; and all the estates, rights, titles, interests, dower and rights of dower,curtesy and rights of curtesy,property,possession,claim and demand whatsoever,both at law and in equity,of Debtor of,in and to the Premises and the Improvements and every part and parcel thereof,with the appurtenances thereto; (b) all machinery, furniture, furnishings, equipment, computer software and hardware, fixtures (including all heating, air conditioning, plumbing, lighting, communications and elevator fixtures), inventory,materials,supplies and other articles of personal property and accessions thereof, renewals and replacements thereof and substitutions therefor, and other property of every kind and nature, tangible or intangible, owned by Debtor, or in which Debtor has or shall have an interest,now or hereafter located upon the Premises or the Improvements,or appurtenant thereto,and usable in connection with the present or future operation and occupancy of the Premises and the Improvements (hereinafter collectively referred to as the"Equipment)"), including any leases of,deposits in connection with, and proceeds of any sale or transfer of any of the foregoing, and the right, title and interest of Debtor in and to any of the Equipment that may be subject to any "security interest" as defined in the Uniform Commercial Code, as in effect in the State where the Trust Property is located(the"UCC'), superior in lien to the lien of this financing statement; (c) all awards or payments, including interest thereon, that may heretofore or hereafter be made with respect to the Premises or the Improvements, whether from the exercise of the right of eminent domain or condemnation (including any transfer made in lieu of or in anticipation of the exercise of such right), or for a change of grade,or for any other injury to or decrease in the value of the Premises or Improvements; (d) all leases,subleases and other agreements or arrangements heretofore or hereafter entered into affecting the use,enjoyment or occupancy of,or the conduct of any activity upon or in, the Premises or the Improvements, including any extensions, renewals, modifications or Exhibit A—Page 1 12.xx.UCC-1 Financing Statement Exhibit 20131024001187.003 amendments thereof (hereinafter collectively referred to as the "Leases") and all rents, rent equivalents, moneys payable as damages (including payments by reason of the rejection of a Lease in connection with any petition by a tenant under any state or federal bankruptcy or insolvency law or the liquidation of all or a major portion of its property or in lieu of rent or rent equivalents),royalties(including all oil and gas or other mineral royalties and bonuses), income, fees, receivables, receipts, revenues, deposits (including security, utility and other deposits), accounts,cash,issues,profits,charges for services rendered,and other consideration of whatever form or nature received by or paid to or for the account of or benefit of Debtor or its agents or employees from any and all sources arising from or attributable to the Premises and the Improvements, including all receivables, customer obligations, installment payment obligations and other obligations now existing or hereafter arising or created out of the sale, lease, sublease, license, concession or other grant of the right of the use and occupancy of the Premises or the Improvements, or rendering of services by Debtor or any of its agents or employees, and proceeds, if any, from business interruption or other loss of income insurance (hereinafter collectively referred to as the "Rents"), together with all proceeds from the sale or other disposition of the Leases and the right to receive and apply the Rents to the payment of sums due and owing to Secured Party; (e) all proceeds of and any unearned premiums on any insurance policies covering the Trust Property, including, without limitation, the right to receive and apply the proceeds of any insurance,judgments,or settlements made in lieu thereof,for damage to the Trust Property; (f) the right, in the name and on behalf of Debtor,to appear in and defend any action or proceeding brought with respect to the Trust Property and to commence any action or proceeding to protect the interest of Beneficiary in the Trust Property; (g) ail accounts (including reserve accounts), escrows, documents, instruments, chattel paper, claims, deposits and general intangibles, as the foregoing terms are defined in the UCC,and all franchises,trade names,trademarks,symbols, service marks,books,records,plans, specifications, designs, drawings, surveys, title insurance policies, permits, consents, licenses, management agreements,contract rights(including any contract with any architect or engineer or with any other provider of goods or services for or in connection with any construction,repair or other work upon the Trust Property), approvals, actions, refunds of real estate taxes and assessments (and any other governmental impositions related to the Trust Property) and causes of action that now or hereafter relate to,are derived from or are used in connection with the Trust Property,or the use, operation,maintenance, occupancy or enjoyment thereof or the conduct of any business or activities thereon(hereinafter collectively referred to as the`Intangibles");and (h) all proceeds, products, offspring, rents and profits from any of the foregoing, including those from sale, exchange, transfer, collection, loss, damage, disposition, substitution or replacement of any of the foregoing. Exhibit A—Page 2 12.xx.UCC-i Financing Statement Exhibit 20131024001187.004 SCHEDULE A Legal Description LOTS 1, 2, 3 AND 5, CENTRAL HIGHLANDS PLAZA, A BINDING SITE PLAN, ACCORDING TO THE PLAT THEREOF RECORDED IN VOLUME 176 OF PLATS,PAGES • 76 AND 77, SAID PLAT BEING AN AMENDMENT OF THE PLAT RECORDED IN VOLUME 141 OF PLATS, PAGES 59 AND 60, RECORDS OF KING COUNTY WASHINGTON. Exhibit A--Page 3 l2,xx.UCC-1 Finnnoing statement Exhibit 20140117000695.001 Electronically Recorded 20140117000695 SIMPLIFILE UCCA 73.00 Page 001 of 002 01/17/201411:01 UCC FINANCING STATEMENT AMENDMENT King County,WA FOLLOW INSTRUCTIONS A.NAME&PHONE OF CONTACT AT FILER(optional) Barbara Basgall 405-236-0003 B.E-MAIL CONTACT AT FILER(optional) C.SENDSE ACKNOWLEDGMENT TO: (Name and Address) I Anderson,McCoy&Orla PC 100 North Broadway,Suite 2600 Oklahoma City,OK 73102 THE ABOVE SPACE IS FOR FILING OFFICE USE ONLY 1a,INITIAL FINANCING STATEMENT FILE NUMBER 1b.Q This FINANCING STATEMENT AMENDMENT is to be filed(for record) 2013102400118710/24/13 (or recorded)in the REAL ESTATE RECORDS _ FierenglAmeritafientAdtimidum(Form UCC3Ad)ERODmdde Debaa'a name in tern 13 2.0 TERMINATION:Effectiveness of the Financing Statement identifiod above Is terminated with respect to the security interest(s)of Secured Party authorizing thin Termination Statement 3.2 ASSIGNMENT u sr partial): Provide nama of Assignee in Item 7a or 7b.gad address of Assignee in Item 70an4 name of Assignor in item 9 For partial assignment,complete items 7 and 9 Engi also Indicate affected collateral in Item 8 4.O CONTINUATION: Effectiveness of the Financing Statement identified above with respect to the security in tereet(s)of Secured Party authorizing this Continuation Statement Is continued for the additional period provided by applicable law 5.❑PARTY INFORMATION CHANGE: Check Mai these two boxes: inla Check gob of these three boxes ter. CHANGE name endfor address:Complete ADD name:Complete item DELETE name:Give record name This Change affects❑Debtor pt❑Secsxad Party of record IA Item 6a or fib;Bog item 7a or 7b HD@ item 7c ❑7a or 7b,866 item 7c ❑to be deleted In Item 6a or fill 6.CURRENT RECORD INFORMATION: Complete for Party Inimmatlen Change-provide only misname(6a or fib) 6.9.ORGANIZATIONS NAME OR Co.INDMDUALS SURNAME FIRST PERSONAL NAME ADDITIONAL NAME(S)/INITIAL(S) SUFFIX 7.CHANGED OR ADDED INFORMATION:Cacaos foe Asaignrmnl orplay Itienmi on change-prodde wysDi name pa or 7b)(vaa crash M once;dorm oeA,modifK or abbtaide any pan of Ito Debrees newel 7s.ORGANIZATIONSS NAME U.S.BANK NATIONAL ASSOCIATION,AS TRUSTEE,* OR 7b INDIVIDUALS SURNAME INDIVIDUALS FIRST PERSONAL NAME INDIVIDUAL'S ADDITIONAL NAME(S)IINITIALIS) SUFFIX 7c,MAILING ADDRESS CITY STATE POSTAL CODE COUNTRY 190 S.LaSalle Street,7th Floor Chicago IL 60603 USA 6.❑COLLATERAL CHANGE Also check Rao of mese four boxes: In ADD collateral ❑DELETE collateral ❑RESTATE covered collateral ❑ASSIGN collateral Indicate collateral: `ON BEHALF OF THE REGISTERED HOLDERS OF CITIGROUP COMMERCIAL MORTGAGE SECURITIES INC., COMMERCIAL MORTGAGE PASS-THROUGH CERTIFICATES,SERIES 2013-GC17 9.NAME OF SECURED PARTY OF RECORD AUTHORIZING THIS AMENDMENT:Provide only one name(9a or9b)(name of Assignor,it nes Is an Assignment) If this is an Amendment authorized by a DEBTOR,check here n end provide name of authorizing Debtor 9a.ORGANIZATIONS NAME THE BANCORP BANK OR 9o.INDIVIDUAL'S SURNAME FIRST PERSONAL NAME 'ADDITIONAL NAME(S)7iNITIAL(S) SUFFIX 10.OPTIONAL FILER REFERENCE DATA: Renton Central Highlands Plaza AMO Ref.:4502.003 FILE WITH KING COUNTY,WA UCC FINANCING.STATEMENT AMENDMENT,(Forrn UCC3)(Rev.04/20111) 20140117000695.002 UCC FINANCING STATEMENT AMENDMENT ADDENDUM FOLLOW INSTRUCTIONS 11.INITIAL FINANCING STATEMENT FILE NUMBER: Same as item to on Amendment roan 20131024001187 10/24/13 12.NAME OF PARTY AUTHORIZING THIS AMENDMENT:Same as item 9 on Amendment form •_ 12a.ORGANIZATION'S NAME THE BANCORP BANK OR 12b.INDIVIDUALS SURNAME FIRST PERSONAL NAME ADDITIONAL NAME(S)!INITIAL(S) SUFFIX THE ABOVE SPACE IS FOR FILING OFFICE USE ONLY 13.Name of DEBTOR On related financing statement(Name of a curtent Debtor of record required for Indexing purposes only in some fling offices.see Instruction item 13): Provide only gag Debtor name(13a or 13b)(use exact,full name;do not omit,modify,or abbreviate any part of the Debtor's name);see Instructions if name does not fit 133.ORGANIZATION'S NAME ARGO RENTON,LLD,a Delaware limited liability company OR 131)INDIVIDUAL'S SURNAME FIRST PERSONAL NAME ADDITIONAL NAMHS)IINITIAL(S) SUFFIX 14.ADDITIONAL SPACE FOR ITEM 8(Collateral): • 15.This FINANCING STATEMENT AMENDMENT: 17.Descriptor,or real estate; n covers timber to be cut 1_..t covers as.extractad collateral 0 is filed as a fixture filing Property Address:4601-4621 Northeast Sunset 16.Name and address of a RECORD OWNER of real estate described in item 17 Boulevard,Renton,WA Of Debtor does not have a record interest): Parcel ID: 149450-0010-08, 149450-0020-06, 149450-0030-04 and 149450-0050-09 • 18.MISCELLANEOUS: UCC FINANCING STATEMENT AMENDMENT ADDENDUM(Form UCC3Ad)(Rev.04120/11) 20180509000046.001 Instrument Number: 20180509000046 Document:UCCC Rec: $76.00 Page- Record Date:5/9/2018 8:39 AM King County, WA • UCC FINANCING STATEMENT AMENDMENT N IIII 1111111111111111111 FOLLOW iNSTRUCTIONS 201 80509000046 A.NAME&PHONE OF CONTACT AT FILER(optional) UCC CONTINUATION Rec:$78.00 Phone:(800)331-3282 Fax:(818)662-4141 51912018 8:39 AM B.E-MAIL CONTACT AT FILER(optional) KiNG COUNTY,WA CLS-CTLS_Glendale_Customer Setvioe@wolterskiuwer.com C.SEND ACKNOWLEDGMENT TO:(Name and Address) 23614-23814 V.-- • - - -- - ' -"""- ""-- l hen Solutions 63977509 7 P.O.Box 29071 Glendale,CA 91209-9071 WAWA FIXTURE 1 File with:King,WA THE ABOVE SPACE IS FOR FILING OFFICE USE ONLY la.INITIAL FINANCING STATEMENT FILE NUMBER lb.®This FINANCING STATEMENT AMENDMENT is to be fled[for record] 20131024001187 10l24/2013 CC WA King Filmor attach Amendment m(FormUATE CUCORdRDSd provide Dablots name In Item 13 2.❑TERMINATION:Effectiveness at the Financing Statement identified above is terminated with respect to the security interest(s)of Secured Party authorizing this Termination Statement 3.❑ASSIGNMENT(full or partielk Provide name of Assignee In item 7a or 7b,mil address of Assignee In Item 7c Big name of Assignor In item 9 For partial assignment,complete items 7 and 9 and also Indicate affected collateral In Item 8 4.®CONTINUATION:Effectiveness of the Financing Statement Identified above with respect to the security interests)of Secured Party authorizing this Continuation Statement is continued for the additional period provided by applicable law 5.❑PARTY INFORMATION CHANGE Check one of these two boxes; AND Check one of these three boxes to: CHANGE name andloraddress:Complete ADD name:Complete Rem DELETE name:Give record name This Change effects El Debtor Qr['Secured Parry of record ❑Rem6a oreb:ems, item 7e or 7b grag item 7e ❑7a or 7b,mg Item 7c ❑to be deleted in Rem Ca or 6b 6.CURRENT RECORD INFORMATION:Complete for Party Information Change-provide only one name(Ea or 6b) Ca.ORGANIZATIONS NAME ARGO RENTON.LLC OR,se.womoeALSSURNAME T FIRST PERSONAL NAME ADDITIONAL NAME(SpINITIAL(S) SUFFIX •7.CHANGED OR ADDED INFORMATION:CemplereferAsslpnmemorPsny tonne Ian Chxope.Fewer,*con mine Qe or7b)(we exaa.Ian never donw omR moday,erabMcvteo a,ynaeoftne DckIe'e omrnH _ 7a.ORGANIZATIONS NAME �• OR 7b.INDNmtuI.'SSURNAME INDMDUAL'S FIRST PERSONAL NAME INDMDUAL'SADDITIONAL NAMEISyS1ITIAL(S) SUFFIX 7e MAILING ADDRESS CITY STATE POSTAL CODE COUNTRY 6•❑ COLLATERAL CHANGE check one of these four boxes: DAUB collateral ❑DELETE collateral ❑RESTATE covered collateral ❑ASSIGN collateral Indicate collateral: LOTS 1,2,3 AND 5,CENTRAL HIGHLANDS PLAZA,A BINDING SITE PLAN,ACCORDING TO THE PLAT THEREOF RECORDED IN VOLUME 176 OF PLATS,PAGES 76 AND 77,SAID PLAT BEING AN AMENDMENT OF THE PLAT RECORDED IN VOLUME 141 OF PLATS,PAGES 59 AND 60, RECORDS OF KING COUNTY WASHINGTON. PIN:149450.0010-08,149450-0020-06,149450-0030-04,149450-0050-09 LOAN#625100047 9.NAME OF SECURED PARTY OF RECORD AUTHORIZING THIS AMENDMENT: Provide only one name(9a or 913)(name of Assignor,if this is an Assignment) tl this Is an Amendment authorized by a DEBTOR,check here n and provide name of authorizing Debtor 9a ORGANIZATION'S NAME• U.S.BANK NATIONAL ASSOCIATION,AS TRUSTEE ON BEHALF OF THE REGISTERED HOLDERS OF CITIGROUP COMMERCIAL MORTGAGE SECURITIES INC,COMMERCIAL MORTGAGE PASS-THROUGH CERTIFICATES.SERIES OR 9b.INDIVIDUALS SURNAME FIRST PERSONAL NAME ADDITIONAL NAME(SylNITIAI.(S) SUFFIX 10.OPTIONAL FILER REFERENCE DATA: Debtor Name:ARGO RENTON,LLC 63977509 625100047 Prepared by Lien Solutions,P.O.Box 2S071, FII Din AFCIrF r•r1DY—I NY•=INA1.1f`Iblr_CTA.TCRAFMT 6*ACMm4AFMT(Fnr,,,I If`f`21 Meta nvr,ngi, G1anty,cre A12110.14171 TRIIMIss1 n7ee _20.1 Instrument Number: 20180509000046 Document:UCL _ Rec: $76.0U age- Record Date:S/9/2018 8:39 AM King County, WA UCC FINANCING STATEMENT AMENDMENT ADDENDUM FOLLOW INSTRUCTIONS 11.INITIAL FINANCING STATEMENT FILE NUMBER:Same as item 1a on Amendment form 20131024001187 10/24/2013 CC WA King 12.NAME OF PARTY AUTHORIZING THIS AMENDMENT:Same as hem 9 on Amendment form 12a, R IZATIO 'S NAME U.S.BANK NATIONAL ASSOCIATION,AS TRUSTEE ON BEHALF OF THE REGISTERED HOLDERS OF CITIGROUP COMMERCIAL MORTGAGE SECURITIES INC,COMMERCIAL MORTGAGE PASS-THROUGH CERTIFICATES,SERIES 2013-GC17 OR 126.INDIVIDUAL'S SURNAME FIRST PERSONAL NAME ADDITIONAL NAME(SyINIML(S) SUFFIX THE ABOVE SPACE IS FOR FILING OFFICE USE ONLY 13.Name of DEBTOR on related financing statement(Name of a current Debtor of record required for Indexing purposes only In some filing offices-see Instruction Item 13):Provide only one Debtor name(13a or 13b)(use exact,full name;do not omit,modify,or abbreviate any part of the Debtor's name);see Instructions if name does not fit 13a.ORGANIZATIONS NAME ARGO RENTON,LLC OR 136.INDMDUAL'S SURNAME FIRST PERSONAL NAME ADDITIONAL NAME(SyINMAL(S) SUFFIX 14.ADDITIONAL SPACE FOR ITEM 8(Collateral): Debtor Name and Address: ARGO RENTON,LLC-770 TAMALPAIS DRIVE.SUITE 401-B,CORTE MADERA,CA 94925 Secured Party Name and Address: U.S.BANK NATIONAL ASSOCIATION,AS TRUSTEE ON BEHALF OF THE REGISTERED HOLDERS OF CITIGROUP COMMERCIAL MORTGAGE SECURITIES INC,COMMERCIAL MORTGAGE PASS THROUGH CERTIFICATES,SERIES 2013-GC17-190 S.LASALLE STREET,7TH FLOOR, CHICAGO,IL 60603 The complete information for Authorizer number 1 U.S.BANK NATIONAL ASSOCIATION,AS TRUSTEE ON BEHALF OF THE REGISTERED HOLDERS OF CITIGROUP COMMERCIAL MORTGAGE SECURITIES INC,COMMERCIAL MORTGAGE PASS-THROUGH CERTIFICATES,SERIES 2013-GC17 190 S.LASALLE STREET,7TH FLOOR CHICAGO,IL 60603 SEE EXHIBIT A LEGAL DESCRIPTION ATTACHED HERETO AND INCORPORATED HEREIN BY THIS REFERENCE. 15.Thls FINANCING STATEMENT AMENDMENT: 17.Description of real estate: covers limber to be cut ID covers as-extracted collateral Elis filed asafixturefiling SEE ATTACHED. 18.Name and address of a RECORD OWNER of real estate described In item 17 (If Debtor does not have a record interest): Parcel ID: 149450-0010-08, 149450-0020-06, 149450-0030-04, 149450-0050-09 • • 18.MISCELLANEOUS:63977509-WA33 23814-23814-WELLS FARGO CM U.S.BANK NATIONAL ASSOCIATION, File with:1909.WA 825100047 Prepared by Lien Solutions,P.O.rlox23071, FILING OFFICE COPY—UGC FINANCING STATEMENT AMENDMENT ADDENDUM(Form UCC9Ad1(Rev_04/201111 Glendale,CA91209-5071 Tel(80013313282 _20.1 Instrument Number: 20180509000046 Document:UCt.*.' Rec: $76.00°Page- Record Date:5/9/2018 8:39 AM King County, WA EXHIBIT A Legal Description • LOTS 1, 2, 3 AND 5, CENTRAL HIGHLANDS PLAZA, A BINDING SITE PLAN, ACCORDING TO THE PLAT THEREOF RECORDED IN VOLUME 176 OF PLATS,PAGES 76 AND 77, SAID PLAT BEING AN AMENDMENT OF THE PLAT RECORDED IN VOLUME 141 OF PLATS, PAGES 59 AND 60, RECORDS OF KING COUNTY WASHINGTON. • NY:1522313.2 ® CHICAGO TITLE Chicago Title Company of Washington 10500 NE 8th St.,Suite 600 COMPANY OF WASHINGTON Bellevue,WA 98004 NATIONAL COMMERCIAL SERVICES Phone:(425)455-4995 Buyer's Final Settlement Statement Settlement Date: November 12,2020 Disbursement Date: November 12,2020 Order Number: 201635-SC Escrow Officer: Paula Adams Buyer: City of Renton,a Municipal Corporation 1055 S Grady Way Renton,WA 98057 Seller: Argo Renton,LLC,a Delaware limited liability company 101 Larkspur Landing Circle,Suite 120 Larkspur,CA 94939 Lender: Property: 4637 NE Sunset Boulevard Renton,WA 98059 Buyer Debit Credit Financial Consideration 1 Purchase Price 56,100.00 Buyer funds to close 65,945.20 City of Renton Prorations/Adjustments Reimburse Seller for Lender Required Fees for Consent 3,500.00 Reimburse Seller for Attorney Fees 5,000.00 Title/Escrow Charges Escrow Fee to Chicago Title Company of Washington 701.70 Owner's Policy Premium to Chicago Title Company of Washington 392.70 Coverage: $56,100.00 Version: ALTA Owner's Policy 2006 Recording Charges Recording Fees to County Recorder 240.80 to Chicago Title Company of Washington 0.00 Non-Excise Processing Fee to Chicago litle Company of Washington 10.00 Subtotals 65,945.20 65,945.20 Balance Due FROM Buyer Totals 65,945.20 65,945.20 SAVE THIS STATEMENT FOR INCOME TAX PURPOSES • See page signature a e to follow 9 Printed on 11/16/2020 7:48:49 AM 201635-SC Page 1 of 1 Instrument Number: 202011,....00080 Document:EAS Rec: $ .50 Page-1 of 14 Record Date:11/16/2020 7:31 AM Electronically Recorded King County, WA EXCISE TAX NOT REQUIRED BY AL VASS] CTI-NCS 201635-SC After recording return document to: City of Renton City Clerk's Office 1055 South Grady Way Renton, WA 98057 PLEASE MAKE NO MARK IN THE MARGIN SPACE-RESERVED FOR COUNTY RECORDER'S USE Grantor(s): Argo Renton,LLC Grantee(s): City of Renton Legal Description:Lot 5,Central Highlands Plaza BSP(176/76) Assessor's Tax Parcel Number: 149450-0050-09 Reference Number of Related Documents: N/A UTILITY/SLOPE EASEMENT Duvall Avenue NE Project The Grantor(s), Argo Renton, LLC, a Delaware limited liability company, for and in consideration of $10.00 and other valuable consideration, receipt of which is hereby acknowledged,does hereby grant and convey unto the City of Renton,a municipal corporation, and its successors and assigns (the Grantee"), from the property legally described on Exhibit; "A" — Entire Parcel (the "Property"), attached hereto and incorporated by this reference, a permanent utility easement, for the purposes described below, over, in, on, along, across,j through, below and upon, the portion of the Property legally described on Exhibit "B", (the "Utility Easement") and depicted on Exhibit"C", which are attached hereto and incorporated by this reference. The Grantee and its agents,designees and/or assigns, shall have the right at such times' as deemed necessary by Grantee,to enter upon, over,under and across the Utility Easement to inspect, construct, reconstruct, grade and slope, operate, use, maintain, repair, replace and enlarge the utilities contained within the Utility Easement area for grade and slope,street lights, utilities (including without limitation water, sewer, storm water, electric, gas, telecommunications, cable and fiber optics, either owned or operated by Grantee or those utilities which provide service to Grantee or its citizens and are operated by permission of Grantee through franchise or permit), together with the right of ingress and egress thereto without prior institution of any suit or proceedings and without incurring any legal obligation' Parcel No. 149450-0050-09 Page 1 of(11)Pages Instrument Number: 202011] 00080 Document:EAS Rec: $ 1.50 Page-2 of 14 Record Date:11/16/2020 7:31 AM King County, WA PLEASE MAKE NO MARK IN THE MARGIN SPACE-RESERVED FOR COUNTY RECORDER'S USE ONLY. UTILITY/SLOPE EASEMENT or liability therefore. THIS EASEMENT is executed and delivered and said easement is granted upon the following conditions to wit: 1. Grantee,its agents and employees, assigns and successors shall, as soon as practicable, after installation of the utilities and all subsequent alterations and repairs thereto, restore (at Grantee's sole cost)all Property to the Grantor to a neat and presentable condition,in condition substantially similar (to the extent practicable) to that existing prior to any exercise(s) by Grantee of the rights granted hereunder to Grantee(including without limitation by replanting and reinstalling similar landscaping and irrigation improvements as currently exist,to the extent damaged or removed by Grantee's exercise of rights hereunder). 2. Grantor shall not interfere in any material or substantial manner with the easement rights granted to Grantee and the public in this Utility Easement.Without limitation,Grantor shall not (1) erect or maintain any buildings, structures, or improvements within the Utility Easement; (2) disturb the lateral or subjacent support of the utilities and other improvements and uses of the Utility Easement by Grantee, or undertake any form of construction or other activity that disturbs or damages the utilities, or other improvements or uses of the Utility Easement by Grantee;or(3)plant trees, shrubs,or other vegetation having deep root patterns that will cause damage to or interfere with the use of the utilities installed by Grantee in the Utility Easement. 3. The rights granted herein shall not be construed to interfere with or restrict the Grantor, its heirs,executors,administrators, successors and assigns from the use of the Property outside of the Utility Easement area for the construction and maintenance of property improvements outside of the Utility Easement area. 4. This Utility Easement and the rights, obligations and covenants stated in this Utility Easement shall run with the land and shall be binding upon and shall inure to the benefit of the Grantor and Grantee. This Utility Easement shall be recorded with the King County Recorder's Office. 5. It is understood and agreed that delivery of this Utility Easement is hereby tendered and that the terms and obligations hereof shall not become binding upon City of Renton unless and until approved hereon in writing by City of Renton (as evidenced by its signature below). 6. Grantee shall be responsible at Grantee's sole cost and expense: (1) to maintain the utilities in Utility Easement area described herein at all times in good, safe, legal and sightly condition and will promptly restore any portion(s) of said Utility Easement area that are from time to time affected by Grantee's exercise of its rights under this Utility Easement; and (2)to indemnify, defend and hold harmless Grantor, its members, managers, employees, agents, Parcel No. 149450-0050-09 Page 2 of( 11 )Pages PLEASE MAKE NO MARK IN THE MARGIN SPACE-RESERVED FOR COUNTY RECORDER'S USE ONLY. Instrument Number: 202011] 00080 Document:EAS Rec: $ i.50 Page-3 of 14 Record Date:11/16/2020 7:31 AM King County, WA PLEASE MAKE NO MARK IN THE MARGIN SPACE-RESERVED FOR COUNTY RECORDER'S USE ONLY. UTILITY/SLOPE EASEMENT Dated: 8t ej/ ,2020. Grantor:Argo Renton,LLC, a Delaware limited liability company By: SUNCOR PARTNERS, LLC,a Delaware limited liability company Its: Manager By: CORVALLIS SUNSET PARTNERS,LLC, an Oregon limited lability company Its: Manager • By: Argona , vestments,LLC,a Delaware limiter liab: o..:any (with respect to Series 2) Its: Ma •t- By. N.me: StephelB. Jae=er Title: Manager Accepted and Approved U.S.BANK NATIONAL ASSOCIATION,AS TRUSTEE ON BEHALF OF THE REGISTERED HOLDERS OF CITIGROUP COMMERCIAL MORTGAGE SECURITIES INC.,COMMERCIAL MORTGAGE PASS-THROUGH CERTIFICATES,SERIES 2013-GC17 By: Wells Fargo Bank,National Association,solely in its capacity as Master Servicer pursuant to that certain Pooling and Servicing Agreement dated as of December 1,2013 By: Name: Title: Parcel No. 149450-0050-09 Page 4 of( II)Pages PLEASE MAKE NO MARK IN TFIE MARGIN SPACE-RESERVED FOR COUNTY RECORDER'S USE ONLY. Instrument Number: 202011] 00080 Document:EAS Rec: $ i.50 Page-4 of 14 Record Date:11/16/2020 7:31 AM King County, WA PLEASE MAKE NO MARK IN THE MARGIN SPACE-RESERVED FOR COUNTY RECORDER'S USE ONLY. UTILITY/SLOPE EASEMENT Dated: k• / S /Z07-0 ,2020: • Grantor-Argo Renton,LLC,a Delaware limited liability company • By: SUI`COR PARTNERS,LLC, a Delaware limited liability company Its:Manager By:-ICORVALLIS SUNSET PARTNERS,LLC, an Oregon limited liability company Its: Manager By:Argonaut Investments,LLC,a Delaware limited liability company (with respect to Series 2) Its: Manager By: • Name: Stephen B. Jaeger Title:Manager Aceepte.0 and Approved U.S.BANK NATIONAL ASSOCIATION,AS TRUSTEE ON BEHALF OF THE REGISTERED HOLDERS OF CITIGROUP COMMERCIAL MORTGAGE SECURITIES INC.,COMMERCIAL MORTGAGE PASS- OUGH CERTIFICATES,SERIES 2013-GC17 By: ells Fargo Bank,National Association,solely in I its capacity as Master Servicer pursuant to that certain Pooling and Servicing Agreement dated as of December 1,2013 By: Name:David Wegerek Title: Director • Parcel No. 149450-0050-09 Page 4 of( 11)Pages : . ,: PLEASE MAKE NO MARK IN THE MARGIN SPACE-RESERVED FOR COUNTY RECORDER'S USE ONLY. Instrument Number: 202011] 00080 Document:EAS Rec: $ i.50 Page-5 of 14 Record Date:11/16/2020 7:31 AM King County, WA PLEASE MAKE NO MARK IN THE MARGIN SPACE-RESERVED FOR COUNTY RECORDER'S USE ONLY UTILITY/SLOPE EASEMENT Accepted and Approved City of In,� n Ai in A By \r Ar + .do Pavone ItS Mayor Date it - - Attestb (Jason ' ettq City Clerk y .6 3t•' 2;4:- • 4$ y'3 t • Parcel No. 149450-0050-09 • Page 5 of( 11)Pages PLEASE MAKE NO MARK IN THE MARGIN SPACE-RESERVED FOR COUNTY RECORDER'S USE ONLY. Instrument Number: 202011] 00080 Document:EAS Rec: $ i.50 Page-6 of 14 Record Date:11/16/2020 7:31 AM King County, WA PLEASE MAKE NO MARK IN THE MARGIN SPACE-RESERVED FOR COUNTY RECORDER'S USE ONLY UTILITY/SLOPE EASEMENT • CORPORATE ACKNOWLEDGMENT .7 , ' STATE OF ,r ..1/ ,) ss. -r,( f r r- COUNTY OF �'_. • �'` ' .. I certify that I know or have satisfactory evidence-That is the person who appeared before me,and said person,51arOwledged that they signed this instrument,on oath stated that they were authorized to execute., the instrument and acknowledged it as the of ./ , to be their free and voluntary act of such party for the uses and purposes mentioned in the instrument. !// DATED this day-df ,20 . (SEA/ Notary Public . / Printed Name f Residing at My appointment expires • INDIVIDUAL ACKNOWLEDGMENT STATE OF WC4ti;1.coell-6,..t1 ss. COUNTY OF t4-i;01 `On this day personally appeared before me Al' I dr)Me-VI f'"e7ii/;0 e'- ,tome known to be the individual(s)described in and who executed the within and foregoing instrument,and acknowledged that ;(he/she/they signed the same as(hi$/her/their free and voluntary act and deed, for the uses and purposes therein mentioned. h DATED this S�" day of '\: e..1v,.1,)r.r' ,20 1.t: . ,c�5P R �C 11/, Notary Public (V.,,-�sg10N F 11,„ 'S�� j A 'CAL i- 0� + 4')' to s o a,;, Printed Name e `� -4 6*r 7&BLS°� .O -- Residing at }& line., 1,•t,'• 2 & — /// 4F,I14' voNs,N C9 zir /•/ OF • WASH\ ,--:- My appointment expires 1 a� ' J i l lll\1\om.-- Parcel No. 149450-0050-09 - Page 6 of( 11 )Pages PLEASE MAKE NO MARK IN THE MARGIN SPACE-RESERVED FOR COUNTY RECORDER'S USE ONLY. Instrument Number: 202011] - ,'D0080 Document:EAS Rec: S i.50 Page-7 of 14 Record Date:11/16/2020 7:31 AM King County, WA CALIFORNIA ACKNOWLEDGMENT CIVIL CODE§ 1189 A notary public or other officer completing this certificate verifies only the identity of the individual who signed the document to which this certificate is attached,and not the truthfulness,accuracy,or validity of that document. State of California County of / ,11 /C/4 -r, 9 • i, On 14;_ a f L. l=0 G:.{:, before me, 1;3Ju" ? r..-i:,'see ,fv '�,r.:, �.• ? , Date Here Insert Name and Title bf the Officer personally appeared -0?;',o 4'.a fs 1.'i Name(s)of Signer(s) who proved to me on the basis of satisfactory evidence to be the persons)whose name(s)is/are subscribed to the within instrument and acknowledged to me that he/she/they executed the same in his/her/their authorized capacity(ies), and that by his/her/their signature(s)on the instrument the person(s).or the entity - upon behalf of which the person(s)-.acted,executed the instrument. I certify under PENALTY OF PERJURY under the laws of the State of California that the foregoing ' i, JarEPCGHUN is true and correct. T. Notary Public blili -c-California paragraph ;_;...•� '= Mann County -•}s�.�, Commission p 2294106 WITNESS my hand and official seal. My Comm,Expires Jul 16,2023 Signature f' Place Notary Seal and/or Stamp Above (:.. Sigria#[ire of Notary Public OPTIONAL Completing this information can deter alteration of the document or fraudulent reattachment of this form to an unintended document. Description of Attached Document Title or Type of Document: Document Date: Number of Pages: Signer(s) Other Than Named Above: Capacity(ies)Claimed by Signer(s) Signer's Name: Signer's Name: ❑ Corporate Officer—Title(s): 0 Corporate Officer—Title(s): o Partner— ❑ Limited 0 General ❑ Partner— 0 Limited 0 General ❑ Individual ❑ Attorney in Fact 0 Individual 0 Attorney in Fact ❑ Trustee 0 Guardian or Conservator 0 Trustee 0 Guardian or Conservator ❑ Other: ❑ Other: Signer is Representing: Signer is Representing: ©2018 National Notary Association Instrument Number: 202011]. `00080 Document:EAS Rec: $ i.50 Page-8 of 14 Record Date:11/16/2020 7:31 AM King County, WA - • STATE OF NORTH CAROLINA ) • COUNTY OF MECKLENBURG ) On this 0 U91ay of October,2020,personally appeared before me David Wegerek,as a Director of WELLS FARGO BANK,NATIONAL ASSOCIATION,acting in its authorized capacity as Master Servicer for and on behalf of U.S.BANK NATIONAL ASSOCIATION,AS TRUSTEE ON BEHALF OF THE.REGISTERED HOLDERS OF CITIGROUP COMMERCIAL MORTGAGE SECURITIES INC., COMMERCIAL MORTGAGE PASS- THROUGH CERTIFICATES,SERIES 2013-GC17,signer and sealer of the foregoing instrument and acknowledged the same to be his/her free act and deed and the free act and deed of said entities,before me. He/she is personally known to me or has eproduced a driver's license as identification. • , i L Pubic • My commission expires: pm 9U.4,f ?_l "10 73 _ • HIIda C Bull , _ Notary Public ' .� Mecklenburg County,NC My Commission Expires August 26,2023 • • • Instrument Number: 2020111 -.00080 Document:EAS Rec: $ i.50 Page-9 of 14 Record Date:11/16/2020 7:31 AM King County, WA • PLEASE MAKE NO MARK IN THE MARGIN SPACE-RESERVED FOR COUNTY RECORDER'S USE ONLY. UTILITY/SLOPE EASEMENT EXHIBIT"A" • ENTIRE PARCEL • EXHIBIT A FOR UTILITY/SLOPE EASEMENT SW 1/4 OF SEC. 03, T. 23 N., R. 05 E.,W.M. • CITY OF RENTON, KING COUNTY,WA LOT 5 OF CENTRAL HIGHLANDS PLAZA, PER AMENDED BINDING SITE PLAN RECORDED UNDER VOLUME 176, PAGES 76-77, KING COUNTY RECORDS OF • KING COUNTY, WASHINGTON. • • • • N�• kE F�of IIAsq�\j� • ` 9Pc. R44889 ec w �FSS\O`A S sNl L LPN g-15-Zo2o Parcel No. 149450-0050-09 Page 7 of( 11 )Pages PLEASE MAKE NO MARK IN THE MARGIN SPACE-RESERVED FOR COUNTY RECORDER'S USE ONLY. Instrument Number: 202011: 00080 Document:EAS Rec: $ i.50 Page-10 of 14 Record Date:11/16/2020 7:31 AM King County, WA PLEASE MAKE NO MARK IN THE MARGIN SPACE-RESERVED FOR COUNTY RECORDER'S USE ONLY. UTILITY/SLOPE EASEMENT EXHIBIT"B" EASEMENT LEGAL DESCRIPTION EXHIBIT B FOR UTILITY/SLOPE EASEMENT SW 1/4 OF SEC. 03, T, 23 N., R. 05 E.,W.M. CITY OF RENTON, KING COUNTY,WA A PORTION OF LOT 5 OF CENTRAL HIGHLANDS PLAZA, PER AMENDED BINDING SITE PLAN RECORDED UNDER VOLUME 176, PAGES 76-77, KING COUNTY RECORDS, SAID PORTION BEING MORE PARTICULARLY DESCRIBED AS FOLLOWS: COMMENCING AT THE SOUTHEAST CORNER OF SAID LOT 5, ALSO BEING THE WESTERLY MARGIN OF DUVALL AVENUE NORTHEAST; THENCE NORTH 01'19'44" EAST 16.37 FEET ALONG SAID WESTERLY MARGIN TO THE TRUE POINT OF BEGINNING;THENCE NORTH 88'40'16"WEST 5.00 FEET; THENCE NORTH 01'19'44" EAST 17.00 FEET; THENCE SOUTH 88'40'16" EAST 5.00 FEET TO SAID WESTERLY MARGIN; THENCE SOUTH 01'19'44" WEST 17.00 FEET ALONG SAID WESTERLY MARGIN TO THE TRUE POINT OF BEGINNING; TOGETHER WITH A PORTION OF SAID LOT 5 BEING MORE PARTICULARLY DESCRIBED AS FOLLOWS: COMMENCING AT THE SOUTHEAST CORNER OF SAID LOT 5, ALSO BEING SAID WESTERLY MARGIN; THENCE NORTH 01'19'44" EAST 86.27 FEET ALONG SAID WESTERLY MARGIN TO THE TRUE POINT OF BEGINNING; THENCE NORTH 88'40'16" WEST 3.00 FEET; THENCE NORTH 01'19'44" EAST 16.27 FEET; THENCE NORTH 88'40'16" WEST 2.00 FEET; THENCE NORTH 01'19'44* EAST 15.00 FEET; THENCE SOUTH 88'40'16" EAST 5.00 FEET TO SAID WESTERLY MARGIN; THENCE SOUTH 01'19'44*WEST 31.27 FEET ALONG SAID WESTERLY MARGIN TO THE TRUE POINT OF BEGINNING; TOGETHER WITH A PORTION OF SAID LOT 5 BEING MORE PARTICULARLY DESCRIBED AS FOLLOWS: COMMENCING AT THE SOUTHEAST CORNER OF SAID LOT 5, ALSO BEING SAID WESTERLY MARGIN; THENCE NORTH 01'19'44" EAST 194.02 FEET ALONG SAID WESTERLY MARGIN TO THE TRUE POINT OF BEGINNING; THENCE NORTH 88'40'16' WEST 3.00 FEET; THENCE NORTH 01'19'44" EAST 17.00 FEET; THENCE SOUTH 88'40'16" EAST 2.00 FEET; THENCE NORTH O1'19'44" EAST 41.43 FEET; THENCE SOUTH 88'40'16* EAST 1.00 FEET TO SAID WESTERLY MARGIN; THENCE SOUTH 01'19'44' WEST 58.43 FEET ALONG SAID WESTERLY MARGIN TO THE TRUE POINT OF BEGINNING; TOGETHER WITH A PORTION OF SAID LOT 5 BEING MORE PARTICULARLY DESCRIBED AS FOLLOWS: COMMENCING AT THE NORTHEAST CORNER OF SAID LOT 5 ALSO BEING SAID WESTERLY MARGIN; THENCE SOUTH 04'46'55" WEST 157.93 FEET ALONG SAID WESTERLY MARGIN TO A POINT ON A TANGENT CURVE TO THE LEFT, WITH A RADIUS OF 1642.00 FEET; Parcel No. 149450-0050-09 Page 8 of(11)Pages PLEASE MAKE NO MARK IN THE MARGIN SPACE-RESERVED FOR COUNTY RECORDER'S USE ONLY. Instrument Number: 2020111_30080 Document:EAS Rec: $ ;.50 Page-11 of 14 Record Date:11/16/2020 7:31 AM King County, WA PLEASE MAKE NO MARK IN THE MARGIN SPACE-RESERVED FOR COUNTY RECORDER'S USE ONLY. ' UTILITY/SLOPE EASEMENT EXHIBIT"B" • EASEMENT LEGAL DESCRIPTION EXHIBIT B CON'T FOR UTILITY/SLOPE EASEMENT SW 1/4 OF SEC. 03, T. 23 N., R. 05 E.,W.M. CITY OF RENTON, KING COUNTY, WA THENCE SOUTHERLY ALONG SAID CURVE THROUGH A CENTRAL ANGLE OF 01'19'53", AN ARC LENGTH OF 38.16 FEET ALONG SAID WESTERLY MARGIN TO THE TRUE POINT OF BEGINNING; THENCE CONTINUING ON SAID CURVE TO THE LEFT WITH A RADIUS OF 1642.00 FEET, THROUGH A CENTRAL ANGLE OF 02'17'18", AN ARC LENGTH OF 65.58 FEET ALONG SAID WESTERLY MARGIN; THENCE SOUTH 01.19'44" WEST 34.48 FEET ALONG SAID WESTERLY MARGIN; THENCE NORTH 88'40'16" WEST 5.00 FEET; THENCE NORTH 01'20'08" EAST 40.00 FEET; THENCE SOUTH 88'40'16" EAST 3,00 FEET TO A POINT ON A NON—TANGENT CURVE TO THE RIGHT WITH A RADIUS OF 1644.00 FEET, THE CENTER OF WHICH BEARS SOUTH 88'28'44" EAST; THENCE NORTHERLY ALONG SAID CURVE THROUGH A CENTRAL ANGLE OF 2'05'46", AN ARC LENGTH OF 60.14 FEET; THENCE SOUTH 88'22'58" EAST 2.00 FEET TO SAID WESTERLY MARGIN AND THE TRUE POINT OF BEGINNING; TOGETHER WITH A PORTION OF SAID LOT 5 BEING MORE PARTICULARLY DESCRIBED AS FOLLOWS: COMMENCING AT THE NORTHEAST CORNER OF SAID LOT 5 ALSO BEING SAID WESTERLY MARGIN; THENCE SOUTH 04'46'55" WEST 40,47 FEET ALONG SAID WESTERLY MARGIN TO THE TRUE POINT OF BEGINNING; THENCE CONTINUING SOUTHERLY ALONG SAID WESTERLY MARGIN SOUTH 4'56'55" WEST 113.39 FEET; THENCE NORTH 85'03'06" WEST 3.00 FEET; THENCE NORTH 04'56'55" EAST 9.39 FEET; THENCE SOUTH 85'03'05" EAST 2.00 FEET; THENCE NORTH 04'56'55" EAST 32.98 FEET; THENCE NORTH 85'03'05" WEST 4.00 FEET; THENCE NORTH 04'56'55" EAST 15.00 FEET; THENCE SOUTH 85'03'05" EAST 4.00 FEET; THENCE NORTH 04'56'55" EAST 47.02 FEET; THENCE NORTH 85'03'05" WEST 2.00 FEET; THENCE NORTH 85'03'05" EAST 9.00 FEET; THENCE SOUTH 04'56'55" EAST 3.00 FEET TO SAID WESTERLY MARGIN AND THE TRUE POINT OF BEGINNING. CONTAINING 832 SQUARE FEET, MORE OR LESS. CPC T lb y : tt` Pow R 46889 s, 'ONL LPN9 S • I ' Parcel No. 149450-0050-09 Page 9 of( 11 )Pages • PLEASE MAKE NO MARK IN THE MARGIN SPACE-RESERVED FOR COUNTY RECORDER'S USE ONLY Instrument Number: 202011E 30080 Document:EAS Rec: $. -1.50 Page-12 of 14 • Record Date:ll/16/2020 7:31 AM King County, WA PLEASE MAKE NO MARK IN THE MARGIN SPACE-RESERVED FOR COUNTY RECORDER'S USE ONLY. UTILITY/SLOPE EASEMENT • • EXHIBIT"C" • GRAPHIC DEPICTION EXHIBIT.0 FOR UTILITY/SLOPE EASEMENT SW 1/4 OF SEC. 03, T. 23 N., R. 05 E., W.M. CITY OF RENTON, KING COUNTY,WA A 40.47' 51V I C3131 T.P.O.B. • 0 10' L30 L29 I . 1"=100' Parametrix L28 L27 122 ( APN 1494500050 ) L26 Les ARGO RENTON LLC tz4 + • 4601 NE SUNSET BLVD 98059 �� I t • • T.P.O.B. c2 LOT 5 S88'28'44'E Ct z CENTRAL HIGHLANDS PLAZA (RADIAL) AMENDED BSP VOL 1761TITT L2D lu L19 Q L17 J • L18 Q • 115 1 Q --1 L14 L16 i 1 • L13 , • Lit • T.P.O.B. L1t 1 iI L91 i 1 I L8 L10; 1 L7 I T.P.O.B. L6 NO1'19.441 ZI—LOT 5 - - — --/`3 L+ T.P.O.B. ( APN 1494500050 )_ L2 16 37' L1 TOTAL AREA T-- --T' - -- - I P.O.C. LEGEND H:,,/,,,,�M,,,,......,.q,, ., r., • 832 SQ. ET. P.O.C. POINT OF COMMENCEMENT ' r of ins e"KV T.P.O.B. TRUE POINT OF BEGINNING i $4. 9iyc,, PERMANENT EASEMENT AREA 4.1 ' r/ rt PROPOSED PERMANENT EASEMENT UNE I- ' de: — — EXISTING RIGHT OF WAY LINE o ' , oe ------- — PROPERTY UNE \Fss°',S88No 5��a�, ( APN XXXXXXXXXXX ) KING COUNTY TAX PARCEL NUMBER b-/S-Zo2O Parcel No. 149450-0050-09 I Page 10 of(11)Pages I PLEASE MAKE NO MARK TN THE MARGIN SPACE-RESERVED FOR COUNTY RECORDER'S USE ONLY. Instrument Number: 2020111 _ )0080 Document:EAS Rec: $ .50 Page-13 of 14 Record Date:11/16/2020 7:31 AM King County, WA PLEASE MAKE NO MARK IN THE MARGIN SPACE-RESERVED FOR COUNTY RECORDER'S USE ONLY. UTILITY/SLOPE EASEMENT EXHIBIT "C" GRAPHIC DEPICTION EXHIBIT C CON'T FOR UTILITY/SLOPE EASEMENT SW 1/4 OF SEC. 03, T. 23 N., R. 05 E.,W.M. CITY OF RENTON, KING COUNTY, WA Line Table Line Table Line Table Line# Length Direction Line# Length Direction Line# Length Direction L1 5.00 N88-40'1614 L12 17.00 NDI-19'44'E L23 3.00 N85'03'051V • L2 17.00 N01'19'44'E L13 2.00 588'40'16'E L24 9.39 N0456'55'E L3 5.00 S88'40'16"E L14 41.43 1+101'19'441 L25 2.00 S85'03'05'E L4 17,00 SO1'19'4411/ L15 1.00 588'40'161 L26 32.98 N04'56'551 L5 3.00 N88'40161W L16 58.43 S01'19'441W L27 4.00 N85'03'05'W L6 16.27 N01'19'44'E L17 34.48 SO1'19'44'W 128 15.00 N04'56'55"E L7 2.00 N88'40'16 W 118 5.00 N88'40'1611/ L29 4.00 S85'03'05'E L8 15.00 N0119'441 L19 40.00 N01'20'08'E L30 47,02 N0456'55'E L9 5.00 88810'16'E L20 3.00 S88'40'161 L31 2.00 N85'03'0511/ 110 31.27 S01'19'44111 121 2,00 S86'22'581 L32 9.00 N04'56'55"E L11 3.00 N88'40'16W L22 113.39 504'56'5514 L33 3.00 985'03'05'E Curve Table Curve# Length Radius Delta C1 65.58 1642.00 02'17'18' C2 60.14 1644,00 0705'46' O M Kef I�LF',OFRAg"4 % 4 Pc 6889 v �• I FS 4'0 S /ONAL LAND SJ (9'/5--Zt Zo Parcel No. 149450-0050-09 Page 11 of(11 )Pages ....._-----..._.._.._._....____._._.PLEASE MAKE NO MARK[N THE MARGIN SPACE-RESERVED FOR COUNTY RECORDERR'SS USE ONLY. Instrument Number: 202011]' _ )0080 Document:EAS Rec: $ i.50 Page-14 of 14 Record Date:11/16/2020 7:31 AM King County, WA PLEASE MAKE NO MARK IN THE MARGIN SPACE-RESERVED FOR COUNTY RECORDER'S USE ONLY. UTILITY/SLOPE EASEMENT tenants, successors and assigns, and any mortgagee secured by Grantor's Property, from and against any and all losses,liabilities,claims,actions,damages and expenses(including without limitation attorneys' fees and costs)to the extent caused to or suffered by any such indemnified party by reason of Grantee's exercise of its rights under this Utility Easement. Grantor expressly reserves the right to access, cross over and use the Utility Easement area described herein (and all air space above the same) for all purposes that do not unreasonably impair or; interfere with the rights of Grantee under this Easement Agreement. Parcel No. 149450-0050-09 Page 3 of( 11)Pages PLEASE MAKE NO MARK IN THE MARGIN SPACE-RESERVED FOR COUNTY RECORDER'S USE ONLY. Instrument Number: 202011] D0081 Document:EAS Rec: $1 " -.50 Page-1 of 13 Excise Does: 3082754 Selling Price: $0.00 Tax Amount: $10.01 _ecord Date:11/16/2020 7:31 Electronically Recorded King County, WA EXCISE TAX NOT REQUIRED BY AL VASSI CTI-NCS 201635-SC After recording return document to: City of Renton City Clerk's Office 1055 South Grady Way Renton, WA 98057 PLEASE MAKE NO MARK IN THE MARGIN SPACE-RESERVED FOR COUNTY RECORDER'S USE Grantor(s): Argo Renton,LLC Grantee(s): City of Renton Legal Description:Lot 5,Central Highlands Plaza BSP(176/76) Assessor's Tax Parcel Number: 149450-0050-09 Reference Number of Related Documents: N/A TEMPORARY CONSTRUCTION EASEMENT Duvall Avenue NE Project("Project") This Temporary Construction Easement (the "Construction Easement"), is made and entered into this Bard day of pint dvi, 2020, by and between Argo Renton, LLC, a I Delaware limited liability company, ("Grantor"), and the City of Renton, a municipal corporation("City"or"Grantee"). For Good and Valuable Consideration, receipt of which is hereby acknowledged, Grantor, as the owner of that certain real property legally described on Exhibit "A" —Entire Parcel ("Property"), attached hereto and incorporated by this reference, does hereby grant to the City,a four thousand six hundred nineteen(4,619)square foot temporary easement area for minor clearing and grubbing and excavation and fill and construction purposes in, on, over, through and across that portion of the Property described on Exhibit "B" ("Easement Area") and depicted on Exhibit"C",which are attached hereto and incorporated by this reference, for the purpose of a Temporary Construction Easement; protecting existing public and private', improvements in the immediate vicinity of the Project area; and repairing, restoring and/or reestablishing any improvements disturbed while undertaking the Project activities described above. The temporary rights granted in this Construction Easement shall be effective upon execution by the parties. Grantee and/or its contractors shall provide forty-eight (48) hours written notice to the Grantor of its intent to commence construction. The temporary rights granted to the Grantee hereunder shall automatically expire and terminate and be null and void upon("Expiration Date") the earlier of(i)twenty four(24)consecutive months after the such l Page 1 of( 10)Pages Parcel No. 149450-0050-09 Instrument Number: 2020111 )0081 Document:EAS Rec: $ :.50 Page-2 of 13 Record Date:11/16/2020 7:31 AM King County, WA PLEASE MAKE NO MARK IN THE MARGIN SPACE-RESERVED FOR COUNTY RECORDER'S USE ONLY. TEMPORARY CONSTRUCTION EASEMENT date of commencement set forth in such written notice,or(ii)December 31, 2023. The Grantee agrees to hold harmless, indemnify and defend the Grantor, its members, managers, employees, agents, tenants, successors and assigns, and any mortgagee secured by Grantor's Property,from and against any and all claims,actions,damages,expenses(including reasonable attorneys' fees), losses or liability, , arising out of the exercise of Grantee's rights under this Construction Easement or any willful misconduct or negligent act, error,or omission; of the Grantee, its officers, agents, contractors, subcontractors, licensees, or employees, in connection with the Grantee's activities authorized by this Construction Easement, provided, however,that: (a) The Grantee's obligations to indemnify, defend and hold harmless shall not extend to injuries, sickness, death or damage caused by or resulting from the sole willful misconduct or sole negligence of the Grantor; and (b) The Grantee's obligations to indemnify, defend and hold harmless for injuries, sickness,death or damage caused by or resulting from the concurrent negligence or willful misconduct of the Grantee and the Grantor, or of the Grantee and a third party other than an officer, agent, contractor or employee of the Grantee, shall apply only to the extent of the negligence or willful misconduct of the Grantee(including an officer, agent, contractor or employee of the Grantee). Grantee shall, at its sole cost and upon completion of the work within the Easement Area(but in no event later than the Expiration Date), fully restore the surface and subsurface of the Easement Area and any public or private improvements disturbed by or destroyed during the execution of the work, as nearly as practicable, to the conditions as of the effective date of this easement. Grantor expressly reserves the right to access, cross over and use the Easement Area described herein (and all air space above the same) for all purposes that do not unreasonably impair or interfere with the rights of Grantee under this Easement Agreement. It is the intention of the parties that this document be strictly limited to and for the purposes expressed. This Construction Easement and covenants herein shall be recorded with the King County Recorder,shall run with the land described herein,and shall be binding upon the parties, their successors,heirs and assigns. Grantor covenants that it is the lawful owner of the above-described property and has authority to convey such easement. It is understood and agreed that delivery of this Construction Easement is hereby tendered and that the terms and obligations hereof shall not become binding upon the City of Renton, Page 2 of( 10)Pages Parcel No. 149450-0050-09 PLEASE MAKE NO MARK IN THE MARGIN SPACE-RESERVED FOR COUNTY RECORDER'S USE ONLY Instrument Number: 2020111 _ )0081 Document:EAS Rec: $: -.50 Page-3 of 13 Record Date:11/16/2020 7:31 AM King County, WA PI.E.ASE MAKE NO MARK IN THE.MARGIN SPACE-RESERVED FOR COUNTY RECORDER'S USE ONLY TEMPORARY CONSTRUCTION EASEMENT unless and until accepted and approved hereon in writing by the City of Renton(as evidenced by its signature below). Dated: ,2020 Grantor: Argo Renton,LLC,a Delaware limited liability company By: SUNCOR PARTNERS,LLC,a Delaware limited liability company Its: Manager By: CORVALLIS SUNSET PARTNERS,LLC, an Oregon limited liability company Its: Manager By: Ar t Investments,LLC,a Delaware limite is i company(with respect to Se 'es 2) Its: M ag r By: Nam : teph B.Jaeg Title:'Manage Accepted and Approved U.S.BANK NATIONAL ASSOCIATION,AS TRUSTEE ON BEHALF OF THE REGISTERED HOLDERS OF CITIGROUP COMMERCIAL MORTGAGE SECURITIES INC.,COMMERCIAL MORTGAGE PASS-THROUGH CERTIFICATES,SERIES 2013-GCI7 • By: Wells Fargo Bank,National Association,solely in its capacity as Master Servicer pursuant to that certain Pooling and Servicing Agreement dated as of December 1,2013 By: Name: Title: Page 3 of(10)Pages Parcel No. 149450-0050-09 PLEASE MAKE NO MARK IN THE MARGIN SPACE-RESERVED FOR COUNTY RECORDER'S USE ONLY. Instrument Number: 2020111 _ _ )0081 Document:EAS Rec: $ -;.50 Page-4 of 13 Record Date:11/16/2020 7:31 AM King County, WA PLEASE MAKE NO MARK IN air,MARGIN SPACE-RESERVED FOR.Ceti rr,RECORDER'S USE ONLY. TEMPORARY CONSTRUCTION EASEMENT It is understood and agreed that delivery of this Construction Easement is hereby tendered and that the terms and obligations hereof shall not become binding upon the City of Renton, unless and until accepted and approved hereon in writing by the,City of Renton (as evidenced by its signature below). Dated: — �" Zo ,2020 Grantor: Argo Renton,LLC,a Delaware limited liability company By: SUNCOR PARTNERS,LLC, a Delaware limited liability company Its:Manager By: CORVALLIS SUNSET PARTNERS,LLC, an Oregon limited liability company Its: Manager By:Argonaut Investments,LLC,a Delaware limited liability company(with respect to Series 2) Its: Manager By: Name: Stephen B. Jaeger Title:Manager Accepted and Approved U.S.BANK NATIONAL ASSOCIATION,AS TRUSTEE ON BEHALF OF THE REGISTERED HOLDERS OF CITIGROUP COMMERCIAL MORTGAGE SECURITIES INC.,COMMERCIAL MORTGAGE PASS-THROUGH CER1IfICATES,SERIES 2013-GC17 By: Wells Fargo Bank,National Association,solely in its capacity as Master Servicer pursuant to that certain Pooling and Servicing Agreement dated as of December 1,2013 By: ‘. Jv"' 11v"V V Name:David Wegerek Title: Director Page 3 of( 10).Pages Parcel No. 149450-0050-09 738394680.1 PLEASE MAKE NO MARK IN THE MARGIN SPACE-RESERVED FOR COUNTY RECORDER'S USE ONLY. Instrument Number: 2020111 )0081 Document:EAS Rec: $ ,.50 Page-5 of 13 Record Date:11/16/2020 7:31 AM King County, WA PLEASE MAKE NO MARK IN THE MARGIN SPACE-RESERVED FOR COUNTY RECORDER'S USE ONLY. TEMPORARY CONSTRUCTION EASEMENT Accepted and Approved City of ent n By A o do Pavone, Its Mayor Date It/5O Attest: •�' /1f Jasa A 1 Se 4 ity Clerk Ilir �y g m... Igas ,•`•I,tllll41114. Page 4 of( 10)Pages Parcel No. 149450-0050-09 PLEASE MAKE NO MARK IN THE MARGIN SPACE-RESERVED FOR COUNTY RECORDER'S USE ONLY. Instrument Number: 2020111 )0081 Document:EAS Rec: $ i.50 Page-6 of 13 Record Date:11/16/2020 7:31 AM King County, WA PLEASE MAKE NO MARK IN THE MARGIN SPACE-RESERVED FOR COUNTY RECORDER'S USE ONLY. TEMPORARY CONSTRUCTION EASEMENT STATE OF WAC114 14.) SS. COUNTY OF KAik.) I certify that 1 know or have satisfactory evidence that AI'My'4^I .#1 v Lam1 e_, is the person who appeared before me,and said person acknowledged that they signed this instrument,on oath stated that they were authorized to execute the instrument and acknowledged it as the M alcK of P,hi y{ RA,ti.'n , to be their free and voluntary act of such party for the uses and purposes mentioned in the instrument. DATED this 5 day of NI'V1_.W.I ' ,2024) . `SS 11, Notary Public -a`��a'AR�p'', Printed Name :o ., . � Ian: (j_ a% A�B��a "2 Residing at J�/T tc /i� p 'i%m\\\``''s C� — My appointment expires Page 5 of( 10)Pages Parcel No. 149450-0050-09 PLEASE MAKE NO MARK IN THE MARGIN SPACE-RESERVED FOR COUNTY RECORDER'S USE ONLY. Instrument Number: 2020111 - )0081 Document:EAS Rec: $ -;.50 Page-7 of 13 Record Date:11/16/2020 7:31 AM King County, WA PLEASE MAKE NO MARK IN THE MARGIN SPACE-RESERVED FOR COUNTY RECORDER'S USE ONLY. TEMPORARY CONSTRUCTION EASEMENT STATE OF .r r' ' ` • • ss. / . COUNTY OF /7". r' • I certify that I know or have satisfactory evidence that/ is . the person who appeared before me, and said person acknowledged that they signed this instrument, on oath stated that they were author' ed to execute the instrument and• acknowledged it as the / 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 • (SEAL) / • ,/� Notary Public •• ti Printed Name ;',) :• / `) F� -'' Residing at �/ • ) ) �/ ! My appointment expires • / ,,,..,—/ t i rr • / �) \ + �` Jv • • • • • • • • Page 6 of( 10)Pages Parcel No. 149450-0050-09 PLEASE MAKE NO MARK IN THE MARGIN SPACE-RESERVED FOR COUNTY RECORDER'S USE ONLY. Instrument Number: 2020111 )0081 Document:EAS Rec: $ -i.50 Page-8 of 13 Record Date:11/16/2020 7:31 AM King County, WA CALIFORNIA ACKNOWLEDGMENT CIVIL CODE§ 1189 A notary public or other officer completing this certificate verifies only the identity of the individual who signed the document to which this certificate is attached,and not the truthfulness,accuracy,or validity of that document. State of California 1 County of i �/2/N On Glr:��?G.�-e,- �. c�.O Z v before me, ,.�e i'eizik!. /4u'111.� hrhill. ��v 6 J..Date ( Here Insert Name and Title of the Officer personally appeared .T-tej4) .1 K l JIc e.1.-e.f- Name(s)of Signer(s) who proved to me on the basis of satisfactory evidence to be the person(s)whose names)is/are subscribed to the within instrument and acknowledged to me that he/shefthey executed the same in his/heFi hteir authorized capacity(i:es), and that by his/herftheir signatures)on the instrument the person(s),or the entity upon behalf of which the person(s)-acted, executed the instrument. I certify under PENALTY OF PERJURY under the laws of the State of California that the foregoing paragraph is true and correct. JOSEPN T.LAUGHUN Notary Public•falitornla WITNESS my hand and official seal. `- Mann County�^�!i Comrtiission#I294106 '4Cxi My Comm.Expires Jul 16,20I3 Signature K-_=2 Place Notary Seal and/or Stamp Above r"% Signc tdre of Notary Public OPTIONAL _ Completing this information can deter alteration of the document or fraudulent reattachment of this form to an unintended document. Description of Attached Document Title or Type of Document: Document Date: Number of Pages: Signer(s)Other Than Named Above: Capacity(ies)Claimed by Signer(s) Signer's Name: Signer's Name: ❑Corporate Officer—Title(s): ❑Corporate Officer—Title(s): ❑ Partner— 0 Limited 0 General 0 Partner— ❑ Limited 0 General ❑ Individual 0 Attorney in Fact ❑ Individual 0 Attorney in Fact ❑ Trustee ❑ Guardian or Conservator 0 Trustee 0 Guardian or Conservator ❑ Other: 0 Other: Signer is Representing: Signer is Representing: ©2018 National Notary Association Instrument Number: 2020111 )0081 Document:EAS Rec: $ •;.50 Page-9 of 13 Record Date:11/16/2020 7:31 AM King County, WA STATE OF NORTH CAROLINA ) COUNTY OF MECKLENBURG ) On this Z day of October,2020,personally appeared before me David Wegerek,as a Director of WELLS FARGO BANK,NATIONAL ASSOCIATION,acting in its authorized capacity as Master Servicer for and on behalf of U.S.BANK NATIONAL ASSOCIATION,AS TRUSTEE ON BEHALF OF THE REGISTERED HOLDERS OF CITIGROUP COMMERCIAL MORTGAGE SECURITIES INC., COMMERCIAL MORTGAGE PASS- THROUGH CER1'I1-.ICATES,SERIES 2013-GC17,signer and sealer of the foregoing instrument and acknowledged the same to be his/her free act and deed and the free act and deed of said entities,before me. He/she is personally vkn wn to me or has produced a driver's license as identification. Notary Public My commission expires: P1L J t.1 Si 1 G' 7 0 2. Hilda C Bull r,4;) Notary Public %.::: Mecklenburg County,NC • My Commission Expires August 26,2023 Instrument Number: 2020111 )0081 Document:EAS Rec: S" 1.50 Page-10 of 13 Record Date:11/16/2020 7:31 AM King County, WA PLEASE MAKE NO MARK IN THE MARGIN SPACE-RESERVED FOR COUNTY RECORDER'S USE ONLY. • TEMPORARY CONSTRUCTION EASEMENT • .• EXHIBIT"A" ENTIRE PARCEL • • • • ,•.• EXHIBIT A • • PROPERTY DESCRIPTION .•• • SW 1/4 OF SEC.03, T. 23 N., R. 05 E.,W.M. CITY OF RENTON, KING COUNTY, WA LOT 5 OF CENTRAL HIGHLANDS PLAZA, PER AMENDED BINDING SITE PLAN RECORDED UNDER VOLUME 176 OF PLATS, PAGES 76-77, KING COUNTY RECORDS OF KING COUNTY, WASHINGTON. • .• • • • • •• • " • Ke,,;,, Cs,' ay!Asti "i'V.,7 ?•••.„ e ••• 1' 46 8 clseZ5,,,d?:41qL48_71.90%1F At_22 6-15-20Z0 • • Page 7 of(10)Pages Parcel No. 149450-0050-09. PLEASE MAKE NO MARK IN THE MARGIN SPACE-RESERVED FOR COUNTY RECORDER'S USE ONLY. • Instrument Number: 202011] )0081 Document:EAS Rec: $- 1.50 Page-11 of 13 Record Date:11/16/2020 7:31 AM King County, WA PLEASE MAKE NO MARK IN THE MARGIN SPACE-RESERVED FOR COUNTY RECORDER'S USE ONLY. TEMPORARY CONSTRUCTION EASEMENT EXHIBIT"B" TEMPORARY CONSTUCTION EASEMENT LEGAL DESCRIPTION EXHIBIT B TEMPORARY CONSTRUCTION EASEMENT DESCRIPTION SW 1/4 OF SEC. 03, T. 23 N., R. 05 E., W.M. CITY OF RENTON, KING COUNTY, WA A PORTION OF LOT 5 OF CENTRAL HIGHLANDS PLAZA, PER AMENDED BINDING SITE PLAN RECORDED UNDER VOLUME 176 OF PLATS, PAGES 76-77, KING COUNTY RECORDS, SAID PORTION BEING MORE PARTICULARLY DESCRIBED AS FOLLOWS: BEGINNING AT THE SOUTHEAST CORNER OF SAID LOT 5, ALSO BEING THE WESTERLY MARGIN OF DUVALL AVENUE NORTHEAST; THENCE NORTH 88'48'55" WEST 10.00 FEET ALONG THE SOUTH UNE OF SAID LOT 5; THENCE NORTH O1'19'44" EAST 22.47 FEET; THENCE NORTH 88'40'16" WEST 7.00 FEET; THENCE NORTH 01'19'44" EAST 63.82 FEET; THENCE SOUTH 88'40'16" EAST 7.00 FEET; THENCE NORTH 01'19'44" EAST 31.27 FEET; THENCE SOUTH 88'40'16" EAST 5.00 FEET; THENCE NORTH O1'19'44" EAST 71.47 FEET; THENCE NORTH 88'40'16" WEST 5.00 FEET; THENCE NORTH 01'19'44" EAST 22.00 FEET; THENCE SOUTH 88'40'I6" EAST 5.00 FEET; THENCE NORTH 01'19'44" EAST 38.43 FEET; THENCE NORTH 88'40'16" WEST 14.59 FEET TO A PROPERTY LINE OF SAID LOT 5; THENCE NORTH 00'51'02" EAST 1.84 FEET ALONG SAID PROPERTY LINE; THENCE NORTH 88'43'06" WEST 5.40 FEET CONTINUING ALONG SAID PROPERTY LINE; THENCE NORTH 01'19'44" EAST 36.00 FEET; THENCE SOUTH 88'40'16" EAST 15.00 FEET; THENCE NORTH • O1'19'44" EAST 40.00 FEET; THENCE SOUTH 88'40'16" EAST 5.00 FEET; THENCE SOUTH 01'19'44" WEST 40.00 FEET; THENCE SOUTH 88'40'16" EAST 5.00 FEET TO SAID WESTERLY MARGIN; THENCE SOUTH 01'19'44" WEST 34.83 FEET ALONG SAID WESTERLY MARGIN; THENCE NORTH 88'40'16" WEST 1.00 FEET; THENCE SOUTH 01'19'44" WEST 41.43 FEET; THENCE NORTH 88'40'16" WEST 2.00 FEET; THENCE SOUTH 01'19'44" WEST 17.00 FEET; THENCE SOUTH 88'40'16" EAST 3.00 FEET TO SAID WESTERLY MARGIN; THENCE SOUTH 01'19'44" WEST 76.47 FEET ALONG SAID WESTERLY MARGIN; THENCE NORTH 88'40'16" WEST 5.00 FEET; THENCE SOUTH 01'19'44" WEST 15.00 FEET; THENCE SOUTH 88'40'16" EAST 2.00 FEET; THENCE SOUTH 01'19'44" WEST 16.27 FEET; THENCE • SOUTH 88'40'16" EAST 3.00 FEET TO SAID WESTERLY MARGIN; THENCE SOUTH O1'19'44" WEST 52.90 FEET ALONG SAID WESTERLY MARGIN; THENCE NORTH 88'40'16" WEST 5.00 FEET; THENCE SOUTH 01'19'44" WEST 17.00 FEET; THENCE SOUTH 88'40'16" EAST 5.00 • FEET TO SAID WESTERLY MARGIN; THENCE SOUTH 01'19'44" WEST 16.37 FEET ALONG SAID WESTERLY MARGIN TO THE TRUE POINT OF BEGINNING; TOGETHER WITH A PORTION OF SAID LOT 5 BEING MORE PARTICULARLY DESCRIBED AS FOLLOWS: • BEGINNING AT THE NORTHEAST CORNER OF SAID LOT 5, ALSO BEING THE WESTERLY MARGIN OF DUVALL AVENUE NORTHEAST; THENCE SOUTH 04'56'55" WEST 40.47 FEET ALONG SAID WESTERLY MARGIN; THENCE NORTH 85'03'05" WEST 3.00 FEET; THENCE SOUTH 04'56'55" WEST 9.00; THENCE SOUTH 85'03'05" EAST 2.00 FEET; THENCE SO4'56'55"W 47.02 FEET; THENCE NORTH 85'03'05" WEST 4.00 FEET; THENCE SOUTH 04'56'55" WEST 15.00 FEET; THENCE SOUTH 85'03'05" EAST 4.00 FEET; THENCE SOUTH 04'56'55" WEST 32.98 FEET; THENCE NORTH 85'03'05" WEST 2.00 FEET; THENCE SOUTH 04'56'55" WEST 9.39 FEET; THENCE SOUTH 85'03'05" EAST 3.00 FEET TO SAID WESTERLY MARGIN; Page 8 of( 10)Pages Parcel No. 149450-0050-09 PLEASE MAKE NO MARK IN THE MARGIN SPACE-RESERVED FOR COUNTY RECORDER'S USE ONLY. Instrument Number: 2020111 'D0081 Document:EAS Rec: $' 1.50 Page-12 of 13 Record Date:11/16/2020 7:31 AM King County, WA PLEASE MAKE NO MARK IN THE MARGIN SPACE-RESERVED FOR COUNTY RECORDER'S USE ONLY. TEMPORARY CONSTRUCTION EASEMENT • EXHIBIT B CON'T TEMPORARY CONSTRUCTION EASEMENT DESCRIPTION SW 1/4 OF SEC. 03, T. 23 N., R. 05 E., W.M. • CITY OF RENTON, KING COUNTY, WA • THENCE SOUTH 04'56'55" WEST 4.07 FEET ALONG SAID WESTERLY MARGIN TO A POINT ON • A TANGENT CURVE TO THE LEFT, WITH A RADIUS OF 1642.00 FEET; THENCE SOUTHERLY ALONG SAID CURVE THROUGH A CENTRAL ANGLE OF 01'19'53", AN ARC LENGTH OF 38.16 • FEET; THENCE NORTH 86'22'58" WEST 2.00 FEET TO A POINT ON A NON—TANGENT CURVE • TO THE RIGHT, WITH A RADIUS OF 2860.93 FEET, THE CENTER OF WHICH BEARS SOUTH • • 8725'43" EAST; THENCE NORTHERLY ALONG SAID CURVE THROUGH A CENTRAL ANGLE OF 00'50'28", AN ARC LENGTH OF 42.29 FEET; THENCE NORTH 85'03'05" WEST 7.00 FEET; • THENCE NORTH 04'56'55" EAST 57.37 FEET; THENCE SOUTH 85'03'05" EAST 5.00 FEET; • THENCE NORTH 04'56'55" EAST 47.02 FEET; THENCE NORTH 85'03'05" WEST 5.00 FEET; NORTH 04'56'55" EAST 9.00 FEET; THENCE NORTH 85'03'05" WEST 5.00 FEET; THENCE • NORTH 04'56'55" EAST 39.54 FEET TO THE NORTH UNE OF SAID LOT 5; THENCE SOUTH • • 88'36'38" EAST 15.03 FEET ALONG SAID NORTH UNE TO THE TRUE POINT OF BEGINNING. • • CONTAINING 4,619 SQUARE FEET, MORE OR LESS. • • • • • • • • M• K6- o4AgN^!� • w 'Pp R 46889 7,6;5:5, CISTER G /ONAC LAND 5 Page 9 of( 10)Pages Parcel No. 149450-0050-09 PLEASE MAKE NO MARK IN THE MARGIN SPACE-RESERVED FOR COUNTY R RDE . ........ - _...__....__.._.. ......_._ ECORR'S USEE ONLY. Instrument Number: 202011 . D0081 Document:EAS Rec:.$ .50 Page-13 of 13 Record Date:11/16/2020 7:31 AM King County, WA PLEASE MAKE NO MARK IN THE MARGIN SPACE-RESERVED FOR COUNTY RECORDER'S USE ONLY. TEMPORARY CONSTRUCTION EASEMENT EXHIBIT"C" r. GRAPHIC DEPICTION EXHIBIT C TEMPORARY CONSTRUCTION EASEMENT ' SW 114 OF SEC. 03, T. 23 N., R. 05 E., W.M. CITY OF RENTON, KING COUNTY, WA • AT.P.O.B. L40+ T. N L59 ,141 i . 0 100' L58 ro 1 L42 f _ i L57 5' 1 L43 1"=100' L55 , 144; Parametrix i ,L45 ( APN 1494500050 ) % Los ARGO RENTON LLC L48 1L47 I • 4601 NE SUNSET BLVD 98059 L5o Los L53 t,i, ii; L51 t S87'25'43'E I LOT 5 014) L52 CENTRAL HIGHLANDS PLAZA , AMENDED BSP VOL 176, PCS 76-77 L19 i w L18 l 12ot _ w L17 4 L21 i Q L1L 65 L22I I -I — �_-- __ "i - -- L14 Q I L12 03 , i 124 I L11 JI I25 ; a ' L10 �i L27 L26 AGM. KE� i I z'c-_ of xa sb/y Ir. L9 i no I it• c44.r' L8 i • 1 > L7 l l29 1� 44� i iI t130 ./�, 16 ! l.31i o : I tI L32 tfir ii, 4688 Oa 4.,JPa�-' ; L5 ' L33: _ L4 4/ s\Al LAN,�f c Li L35• to^15-ZOZo - —/� Oi .L36 - L3 % L7, LEGEND 12 'L38 T.P.O.B. TRUE POINT OF BEGINNING LI 1 I //////% // % Poco�NSIRucT1oN T.P.O.B. • — — EXISTING RIGHT OF WAY LINE _----- -. ------.._- CENTERUNE ---_- .------------ -- PROPERTY UNE TOTAL AREA APN XXXXXXXXXXX ) KING COUNTY TAX PARCEL NUMBER 4,619 SQ. FT. Page 10 of( 10)Pages Parcel No. 149450-0050-09 PLEASE MAKE NO MARK IN THE MARGIN SPACE-RESERVED FOR COUNTY RECORDER'S USE ONLY. • EGroup Northwest Acquisition and Relocation Services • Transmittal Memo To: Flora Lee,Project Manager,City of Renton CC: Cindy Clark,P.E.Parametrix From: Sonja Davis RES Group NW Date: October 27,2020 Project: Duvall Avenue NE Parcel No.: 15 Owner: Argo Renton LLC Ms. Lee, Enclosed in this transmittal are the following documents: 1. Purchase and Sale(signed by the City and the owner) 2. Utility Easement(Requires City's signature& date) 3. Temporary-construction Easement(Requires City signature&date) 4. Real Property Voucher(Requires City signature) 5. W-9 6. Lender Consent and Notice(copy) 7. Administrative Settlement Agreement(copy) 8. Chicago Title—Estimated Settlement Agreement(name of seller needs to be corrected,once corrected please sign and email back to title so they can email the seller for their signature) Please let me know if you have any questions. ' Sincerely . r-Dm......... Sonja Davis,WA/RAC RES Group NW 1913 6th Street Kirkland,WA 98033 • itapGroup Northwest - Acquisition and Relocation Services Administrative Settlement Recommendation Date: July 27,2020 To: Flora Lee,Transportation Design Project Manager, City of Renton CC: Cindy Clark, P.E.,Parametrix • From: Sonja Davis, Senior Right-of-Way Consultant, RES Group NW Subject: Administrative Settlement Recommendation City of Renton, Duvall.Avenue NE Tax Parcel No.: 1499450-0050-09 Project No.: 15 Owner:Argo'Renton,LLC The City's Original Offer dated 4/9/20: $72,000.00 The City's Revised Offer dated 6/25/2:0 $51,000.00 Owner's Proposed Counteroffer dated 7/20/20 $65,000.00 Amount of Proposed Total-Settlement: $61,100.00 BACKGROUND and SUMMARY OF NEGOTIATION • • On April 14,-2020, an offer was made to owners via email and Certified Mail to their California headquarter.The City's offer of S72,000 consisted of$24,000 for 2,917 SF of land in a Right of Way Easement, $20,000 for 4,819 SF of land in a Temporary Construction Easement(ICE),and $28,000 for impacted site improvements, consisting of shrubs and trees. • The negotiation with the owner ensued as soon as they received the City's offer packet. The owners voiced their dissatisfaction with-the City in the past but stated that they were committed to working with the City on this project. They raised their concern over contacting their lender for it consent required on the conveyance, They felt that due to current Covid-19 circumstances, and related financial fall outs and hardships by their commercial tenants, they would rather not have to go through the lender approval process. After explanation of the necessity of the consent/release they conceded that-they will follow the regulatory process. • Negotiation soon expanded into attorney fee's,in which the owners requested a soft cap of$10,000 to start the.review and'furthermore.they raised concerns regarding the possible additional impacts of the easement encumbrance and possible impacts to the future development of the property, alluding that the.current the current offer value of the easement may not enough. • On June 1, 2020,the City of Renton in response to the owner's concerns revised the scope of the take to minimize the.easement acquisition and tighten up the easement language to eliminate issues of damage and to expedite the acquisition. A revised appraisal and review appraisal were ordered. • On June 29,2020,1 present a revised offer of$51,000 to the owners electronically, the City's offer consisted of$7,000 for 832 SF of land for a Utility/Slope Easement, $.l 9,000 for 4.619 SF of land for a Temporary Construction Easement(TCE),'$25,000 for impacted site improvements. At that time,the City offered to reimburse attorney fees up to$2,500. 410,Group • Northwest Acquisition and Relocation Services • July 8=10; 2020,..after .further negotiations, the owners agreed to, reimbursement up to $5,000 attorney.fees if we can come to an amicable'agreement within the next two weeks. The owner requested that the offer amount be raised to the original offer amount of$70,000. • On July 20,2020, the owner decreased its demand to $60,000 plus $5,000 for attorney fees and sent red.lined drafts of Purchase and Sale Agreement, Utility/Slope Easement, and Temporary . Construction Easement. • On July 24, 2020,the City proposed a settlement of$56,100,which is .10%over the offer amount and accepted most of the requested changes to the documents. In addition,the City wi II reimburse oivrze`r's attorney'fees up to$5,000.This was followed by a concurrence.by the owner. RECOMMENDATION/JUS:TIFICATION Theproposed administrative total settlement figure of$61,100.60,which is S5,100 or.10%above the offer amount includes$56,100 settlement plus a-55,000 attorney fees allowance. This doesn't include any fees associated to the partial release of the bank's security interest in the easement area,estimated$1,000 to be paid in escrow. This, will-expeditiously conclude the purchase of the property rights needed within the critical project timeline. As discussed with the City the proposed settlement is a low dollar amount compared to the risk•of litigation.and delaysof the project. Time is of the essence,therefore this settlement is recommended,as it is reasonable and-tepresents prudent use of the public funds.There is fairly high risk Of the cost being higher than.the.proposed settlement if the purchase is delayed or the matter referred for litigation. As documented above, I find that proposed settlement request is consistent with the law and is reasonable, prudent, and.in the public interest. Recommended: L it-4-N /�_ % o� So 1avi ,Senior Acquisition Agent Da e RES Group'NW Administrative Settlement Approved: Martin Pastucha, Public:Works Administrator 'Date Public Works City of Renton • Mayer Brown LLP 214 North Tryon Street Suite 3800 Charlotte,NC 28202 United States of America T:+1 704 444 3500 F:+1 704 377 2033 October 22, 2020 mayerbrown.com BY UPS D.Scott Rudd,Esq. Counsel Sonja Davis T:1-704-444-3510 srudd@mayerbrown.com RES Group Northwest 1913 6th Street • Kirkland, WA 98033 Re: City of Renton "Duvall Ave NE Project" Argo Renton LLC Dear Ms. Davis: Please find enclosed the Lender's counterparts to the Utility/Slope Easement and the Temporary Construction Easement with regard to the above listed'matter. Best regards, D. Scott Rudd, Esq. Counsel Mayer Brown is a global services provider comprising an association of legal practices that are separate entities including • Mayer Brown LLP(Illinois,USA),Mayer Brown International LLP(England),Mayer Brown(a Hong Kong partnership) and Tauil&Chequer Advogados(a Brazilian partnership). 738549760.1 LENDER'S CONSENT AND SUBORDINATION ("Subordination") The undersigned, U.S. BANK NATIONAL ASSOCIATION, AS TRUSTEE ON BEHALF OF THE REGISTERED HOLDERS OF CITIGROUP COMMERCIAL MORTGAGE SECURITIES INC., COMMERCIAL MORTGAGE PASS-THROUGH CERTIFICATES, SERIES 2013-GC 17 ("Lender"), holder of that certain Deed of Trust, Assignment of Leases and Rents and Security Agreement (the "Security Instrument"), executed by ARGO RENTON, LLC, a Delaware limited liability company for the benefit of THE BANCORP BANK, a Delaware state-chartered bank, as beneficiary ("Original Lender") recorded on October 24, 2013, as Instrument Number 20131024001185 in the real estate records pertaining to the land situated in King County, State of Washington ("Official Records"), as such Security Instrument was assigned to Lender in that certain assignment instrument recorded January 17, 2014 as Instrument Number 20140117000693 in the Official Records does (i) hereby consent to that certain Utility/Slope Easement (the "Easement") affecting the collateral premises located in King County, State of Washington ("Property"), to which this Subordination is attached, and (ii) hereby subordinates the lien of said Security Instrument to the easement, rights and restrictions created by the Easement and agrees that the foreclosure of the Security Instrument shall not terminate, impair or extinguish said Easement, provided however, that (a) this Subordination shall not be applicable to any liens or assessments created or arising under the Easement, (b) no violation of the Easement shall defeat, impair or render invalid the lien of the Security Instrument or the other loan documents executed in connection therewith (collectively the "Loan Documents"), (c) should Lender acquire title to the Property secured by the Security Instrument, any liability Lender may have under the Easement shall be non-recourse except to the extent of its equity interest in such Property; (d) Lender's execution of this Subordination shall not be deemed or construed to have the effect of creating any relationship of partnership or of joint venture, nor shall anything contained under this Subordination be deemed to impose upon Lender any of the liabilities, duties or obligations of or under the Easement, and Lender executes this Subordination solely for the purposes set forth in this Subordination; and (e) such consent and subordination (i) shall in no way diminish, impair or affect the security interest in favor of Lender created by the Security Instrument, (ii) shall not affect, amend, limit or impair any of the terms or provisions of the Security Instrument or any of Lender's rights under the Security Instrument, and (iii) shall not be deemed a consent to, or confirmation with respect to, any other action or request under, or a waiver of any conditions or requirements in, the Security Instrument or the other Loan Documents. The consent granted herein is expressly limited to the matters described herein and shall not be deemed a consent to or as a waiver of any other conditions or requirements in the Security Instrument or the Loan Documents and shall not in any way affect, release, diminish, impair or waive the Security Instrument or Loan Documents except to the extent expressly and specifically stated herein. • • 738204019.1 • • IN WITNESS WHEREOF, the undersigned has executed this Lender's Consent and Subordination this day of , 2020.. U.S. BANK NATIONAL ASSOCIATION, AS TRUSTEE ON BEHALF OF THE REGISTERED HOLDERS OF CITIGROUP COMMERCIAL MORTGAGE SECURITIES INC., COMMERCIAL MORTGAGE PASS-THROUGH CERTIFICATES, SERIES 2013-GC17 By: Wells Fargo Bank, National Association, solely in • its capacity as Master Servicer pursuant to that certain Pooling and Servicing Agreement dated as of December 1, 2013 B Name: .14a-N/e. ve-e,t.ferrAt Title: 1)t(Lp.4.4-aIZ STATE OF NORTH CAROLINA ) COUNTY OF MECKLENBURG ) On this 04.L day of Sp pen b , 2020, personally appeared before me me-\M-9 ev e KT as a �i►-tt-A-cAv of WELLS FARGO BANK, NATIONAL ASSOCIATION, acting in its authorized capacity as Master Servicer for and on behalf of U.S. BANK NATIONAL ASSOCIATION, AS TRUSTEE ON BEHALF OF THE REGISTERED HOLDERS OF CITIGROUP COMMERCIAL MORTGAGE SECURITIES INC., COMMERCIAL MORTGAGE PASS-THROUGH CERTIFICATES, SERIES 2013-GC17, signer and sealer of the foregoing instrument and acknowledged the same to be his/her free act and deed and the free act and deed of said entities, before me. He/she is personally known to me or h s produced��a��driver's license as identification. I b1/ otary Public My commission expires: PriAs3 7,(0 /2 C0 23 Hilda C Bull Notary Public Mecklenburg County,NC Mai(;ornrnission .Expires August 26,2023 738204019.1 Chicago Title Company of Washington i`'4; CHICAGO TITLE 10500 NE 8th St., Suite 600 COMPANY OF WASHINGTON Bellevue,WA 98004 NATIONAL COMMERCIAL SERVICES Phone: (425)455-4995 Estimated Settlement Statement Settlement Date: October 27, 2020 Disbursement Date: October 27,2020 Order Number: 201635-SC Escrow Officer: Paula Adams Buyer: City of Renton, a Municipal Corporation 1055 S Grady Way Renton,WA 98057 Seller: Argo Renton, LLC, a Delaware limited liability company 101 Larkspur Landing Circle, Suite 120 Larkspur, CA 94939 Lender: Property: 4637 NE Sunset Boulevard Renton,WA 98059 Seller Buyer Debit Credit Debit Credit Financial Consideration 56,100.00 Purchase Price 56,100.00 Prorations/Adjustments 3,500.00 Reimburse Seller for Lender Required Fees for 3,500.00 Consent 5,000.00 Reimburse Seller for Attorney Fees 5,000.00 TitlelEscrow Charges Escrow Fee to Chicago Title Company of 742.50 Washington Owner's Policy Premium to Chicago Title Company 392.70 of Washington Coverage: $56,100.00 Version: ALTA Owners Policy 2006 Recording Charges Recording Fees to County Recorder 200.00 0.00 to Chicago Title Company of Washington 0.00 Non-Excise Processing Fee to Chicago Title 10.00 Company of Washington Additional Charges 5,000.00 Seller Attorney Fee to GUTTENBERG&COLVIN LLP 5,000.00 64,600.00 Subtotals 65,945.20 0.00 Balance Due FROM Buyer 65,945.20 59,600.00 Balance Due TO Seller 64,600.00 64,600.00 Totals 65,945.20 65,945.20 See signature page to follow Printed on 10/15/2020 9:58:22 AM 201635-SC Page 1 of 2 Estimated Settlement Statement I have carefully reviewed the Settlement Statement, and to the best of my knowledge and belief, it is a true and accurate statement of all receipts and disbursements to be made on my account or by me in this transaction. I further certify that I have received a copy of the Settlement Statement. BUYER City of Renton BY: Flora Lee I have carefully reviewed the Settlement Statement, and to the best of my knowledge and belief, it is a true and accurate statement of all receipts and disbursements to be made on my account or by me in this transaction. I further certify that I have received a copy of the Settlement Statement. SELLER Argo Renton, LLC BY: • Adam Lofgren Property Manager Printed on 10/15/2020 9:56:22 AM 201635-SC Page 2 of 2 REAL ESTATE PURCHASE AND SALE AGREEMENT This Real Estate Purchase and Sale Agreement ("Agreement") is made as of the date this instrument is fully executed by and between Argo Renton, LLC, a Delaware limited liability company, ("Seller"), and the City of Renton, a municipal corporation ("Buyer" or "City"), for purchase and sale of a permanent right of way easement, and a temporary construction easement over a portion of that certain real property situated in King County, Washington, legally described on Exhibit"A",attached hereto(the"Property"). The permanent utility/slope easement consists of 832 square feet and is legally described on Exhibit"B", attached hereto(the"Easement"), and will be granted by Seller to Buyer pursuant to the form of Utility/Slope Easement attached hereto as Exhibit"E". The temporary construction easement consists of 4,619 square feet and is depicted on Exhibit"C",attached hereto(the"TCE"), and will be granted by Seller to Buyer pursuant to the form of Temporary Construction Easement attached hereto as Exhibit "F". Collectively, the portions of the Property encumbered by the Easement and the TCE are referred to as the"Easement Areas." 1. PURCHASE PRICE: The total purchase price for the easements is Fifty-Six Thousand, One Hundred and No/100 Dollars ($56,100.00) ("Purchase Price"). The Purchase Price consists of the Easement valued at $7,000.00, the TCE valued at $19,000.00, and $25,000.00 for any improvements located within the easement areas, and additional $5,100.00 compensation in administrative settlement.The Purchase Price is payable at closing in cash. 2. CONVEYANCE OF TITLE: 2.1 Easements: At closing, Seller will execute and deliver to Buyer the Easement conveying and warranting good and marketable title to the Easement free and clear of all defects or encumbrances except for the lien of real estate taxes and drainage service charges not yet due and payable and those defects and/or encumbrances(if any) identified on Exhibit"D"attached hereto (collectively, "Permitted Exceptions"), provided that Seller's lender encumbering the Easement area agrees to release its lien against the Easement in its sole discretion (and Seller shall use commercially reasonable efforts to request such agreement from its lender). Additionally, the Seller will execute and deliver to Buyer the TCE for a period of twenty-four (24) consecutive months commencing forty-eight (48) hours after City of Renton and/or its contractors provide written notification to Seller of its intent to commence construction, provided that the TCE shall expire in any event no later than December 31, 2023. 2.2 Title Insurance: At closing, Buyer shall receive (at Buyer's expense) an owner's Standard ALTA policy of title insurance, dated as of the closing date and insuring Buyer in the amount of the Purchase Price against loss or damage by reason of defect in Buyer's title to the Easement subject only to the printed exclusions appearing in the policy form and any Permitted } Exceptions. 3. CONTINGENCIES: } 3.1 This Agreement is subject to the following contingencies: Parcel No. 149450-0050-09 Page 1 of 29 i - A. Seller's lender encumbering the Easement area shall have agreed to release its lien against the Easement and delivered at closing such documents as are necessary for Buyer to obtain title insurance to the Easement free and clear of such lender's lien. B. Buyer shall have paid or reimbursed Seller for up to $5,000.00 of Buyer's legal fees incurred in connection with this Agreement and closing hereunder, and shall have paid or reimbursed all of the legal fees and other charges that Seller's lender encumbering the Easement area shall incur, impose or require in connection with Seller's lender considering releasing its lien encumbering the Easement area and/or actually releasing its lien encumbering the Easement area. Buyer covenants to pay the amounts described in this Section 3.1(B)whether or not there is a successful closing under this Agreement. 3.2 Removal of Contingencies: Buyer shall have a period of 60 days from the date all parties have signed this Agreement to satisfy all contingencies. Buyer may elect to waive the contingency } of Section 3.1(A) in Buyer's discretion, but Buyer may only satisfy the contingency of Section 3.1(B)by actually having paid the amounts described therein. If the contingencies are not removed within this period,this Agreement shall be null and void. 4. RISK OF LOSS: Seller will bear the risk of loss of or damage to the Easement Areas prior to closing. In the event of such loss or damage to the Easement Areas, Seller shall promptly notify Buyer thereof and Buyer may, in its sole discretion, terminate this Agreement by giving notice of termination to the Seller. 5. SELLER'S REPRESENTATIONS, WARRANTIES AND COVENANTS: Seller represents, warrants, and covenants to the Buyer at the date of execution of this Agreement and the date of closing that: 5.1 Authority: Seller, and the person(s) signing on behalf of Seller, has full power and authority to execute this Agreement and perform Seller's obligations,and if Seller is a corporation, all necessary corporate action to authorize this transaction has been taken. 5.2 Leases: The Easement Areas are subject to a lease between N/A and N/A , recorded N/A , and any unrecorded leaseholds, rights of vendors and holders of security interest on personal property installed upon said Property, and right of tenants to remove trade fixtures at the expiration of the term. 5.3 No Material Defect: Seller has no actual, personal knowledge, with no duty of inquiry or investigation, of any material defect in the Property that Seller has not disclosed to Buyer, excluding any such material defects that are readily apparent upon a reasonably diligent visual inspection or that Buyer otherwise discovers before the closing. To the best of Seller's actual knowledge, with no duty of inquiry or investigation, the information regarding the Property as provided by Seller is complete,accurate,true and correct and does not fail to state any fact without which such information would be misleading. Other than the limited Seller representations made above in this Section 5.3 or in Section 5.5 below, Buyer is acquiring the Property, the Easement Parcel No. 149450-0050-09 Page 2 of 29 and TCE"AS IS", "WHERE IS"and"WITH ALL FAULTS", with no other representations or warranties by Seller, express or implied. 5.4 Debris and Personal Property: Seller will remove all debris and personal property, prior' to each closing, located on the Easement Areas (if any) at Seller's cost and expense, and Seller { will indemnify and hold Buyer harmless from all claims and expenses arising from such removal. 5.5 Contamination: To the best of Seller's actual personal knowledge,with no duty of inquiry or investigation, and except as discovered by Buyer before the closing, there has been no (a) generation,treatment,storage,or disposal of hazardous substances on the Property actually known to Seller, nor(b) any release of any hazardous substance onto or at the Easement actually known to Seller. To the best of Seller's actual personal knowledge, with no duty of inquiry or investigation,and except as discovered by Buyer before the closing, Seller is in compliance with all applicable laws, rules, and regulations regarding the handling of hazardous substances, has secured all necessary permits, licenses and approvals necessary to its operation on the Easement Areas, and is in compliance with such permits.To the best of Seller's actual personal knowledge, with no duty of inquiry or investigation, and except as discovered by Buyer before the closing, Seller has not received notice of any proceedings, claims, or lawsuits arising out of its operations on the Easement Areas. 5.6 Fees and Commissions: Seller shall pay for any broker's or other commissions or fees (subject to Section 3.1(B)above)incurred by the Seller in connection with the sale of the Easement and Seller shall indemnify and hold Buyer harmless from all such claims for commission and/or fees(subject to Section 3.1(B)above). 5.7 Indemnification: Seller and Buyer each agrees to indemnify, defend and hold harmless the other party, and their respective employees, agents, heirs and assigns, from and against any and all damage,claim, liability, or loss, including reasonable attorney's and other fees,arising out of or in any way connected to the breach of any representation or warranty by the indemnifying party contained herein. 5.8 Ownership; Non-Foreign Status: Seller owns the Property and has the right to sell the Property, and is not a foreign person as defined by the Foreign Investment in Real Property Tax Act, IRS Section 1445(b)(2)("FIRPTA"), as amended. 6. CLOSING: 6.1 Time for Closing and Closing Agent: The sale will be closed in the office of the Closing Agent not later than twenty-one(21)days from the date all contingencies set forth in Paragraph 3 herein have been satisfied,or as soon thereafter as practicable. Buyer and Seller shall deposit in escrow with the Closing Agent all instruments, documents and moneys necessary to complete the sale in accordance with this Agreement. As used in this Agreement, "closing" and "date of closing" means the date on which all appropriate documents are recorded and proceeds of the sale are available for disbursement to Seller. The Closing Agent shall be: Parcel No. 149450-0050-09 Page 3 of 29 Chicago Title Company 10500 NE8th Street, Suite 600 Bellevue, WA 98004 • 6.2 Prorations: Closing Costs: Seller will pay real property taxes prorated through the date of closing. Buyer will pay the premium for its owner's title insurance policy,the cost of recording the Easement and the TCE from the Seller,real estate excise taxes(if any are due)and the Closing Agent's escrow fees. 6.3 Possession: Buyer shall be entitled to possession of the Easement and the TCE at closing. 6.4 Closing Obligations of Buyer: On or before Closing the Buyer shall deliver to the Closing Agent the following: 6.4.1 All funds required to be paid by Buyer under this Agreement, in cash. 6.4.2 A Closing Statement in form and content reasonably satisfactory to the parties. 6.4.3 A Real Estate Excise Tax Affidavit executed by the Buyer in the form required by law. 6.4.4 Any other documents necessary to effect the transaction contemplated in this Agreement. 6.5 Closing Obligations of Seller: At closing, Seller shall deliver to Escrow Agent the following duly executed and acknowledged documents(where appropriate): 6.5.1 The Easement and the TCE required under Paragraph 2.1 of this Agreement. 6.5.2 A Closing Statement in form and content reasonably satisfactory to the parties. 6.5.3 A FIRPTA certification. 6.5.4 A Real Estate Excise Tax Affidavit executed by Seller in the form required by law. 6.5.5 Any other documents necessary to effect the transaction contemplated in this Agreement, provided that Seller shall not be liable for any failure or refusal of Seller's lender encumbering the Easement area to agree to release its lien against the Easement area or to actually release its lien against the Easement area (other than Seller shall request the same), those decisions being solely up to such lender in such lender's sole discretion. 7. NOTICES: All notices, demands, consents, approvals and other communications which are required or desired to be given by either party to the other under this Agreement shall be in writing and shall be hand delivered or sent by United States regular mail, postage prepaid, return receipt requested, or by email transmission, addressed to the appropriate party at its address set Parcel No. 149450-0050-09 Page 4 of 29 forth below,or at such other address as such party shall have last designated by notice to the other. Notices, demands, consents, approvals, and other communications shall be deemed given when delivered, or three days after mailing,or on the day that an email transmission is received,to or at the following addresses: TO SELLER: TO BUYER: Argo Renton, LLC City of Renton c/o Dayna Desmond, Director of Asset Public Works Department Management, Argonaut Investment LLC Attn: Flora Lee 101 Larkspur Landing Circle, Suite 120 1055 South Grady Way Larkspur, CA 94939 Renton, WA 98057 415-945-2473 Telephone: (425)430-7303 ddesmond(cr�,argoinvest.com Email: FLee@Rentonwa.gov 8. GENERAL: This is the entire agreement of the Buyer and Seller with respect to the Easement and supersedes all prior or contemporaneous agreements between them,written or oral. This Agreement may be modified only in writing, signed by Buyer and Seller. Any waivers under this Agreement must be in writing. A waiver of any right or remedy in the event of a default will not constitute a waiver of such right or remedy in the event of any subsequent default. This Agreement is for the benefit of, and binding upon, Buyer and Seller and their heirs, personal representatives,successors and assigns. The invalidity or unenforceability of any provision of this Agreement will not affect the validity or enforceability of any other provision. Time is of the essence in this Agreement. This Agreement may be executed in one or more counterparts, each of which will be considered an original instrument and all of which together will be considered the same agreement. 9. WASTE; ALTERATION OF EASEMENT: Prior to closing, Seller shall not commit waste on the Easement Areas, nor shall Seller remove trees or other vegetation,coal, minerals or other valuable materials nor shall Seller substantially alter the surface or subsurface of the Easement Areas without the express written consent of Buyer. 10. SURVIVAL OF WARRANTIES: The terms,covenants, representations and warranties shall not merge in the deed of conveyance, but shall survive closing. 11. TERMINATION OF OFFER: This offer shall terminate if not accepted by Seller on or before 12. EFFECTIVE DATE: The Effective Date is the date of the last Parties' signature below. Parcel No. 149450-0050-09 Page 5 of 29 Signed in duplicate original. BUYER: City of Renton, a municipal Corporation By,. ATTEST: p;A Its Armondo Pavone,Mayor Date Au st 27,2020 Jason A. Seth, City Clerk a�, SELLER: Argo Renton, LLC,a Delaware limited (..) = � p°� asA 1-7 liability company 4' ,, By: SUNCOR PARTNERS, LLC, a Delaware ,,C�RP Q11 00 0\`� limited liability company Its: Manager By: CORVALLIS SUNSET PARTNERS, LLC, an Oregon limited liability company Its: Manager By:Argonaut Investments_;LLC, a Delaware limited liability. ,mparty(with respect to Series 2) Its: Manager By: --'' Na e: p en B.,J a er' Title: Manager EXHIBITS:• Exhibit A, Property Legal Description Exhibit B,Right of Way Easement Legal Description Exhibit C,Temporary Construction Easement Depiction Exhibit D,Permitted Exceptions Exhibit E, Utility/Slope Easement Exhibit F,Temporary Construction Easement Parcel No. 149450-0050-09 Page 6 of 29 CORPORATE ACKNOWLEDGMENT STATE OF ss. COUNTY OF I certify that I know or ave satisfactory evidence that is th person who appeared before me, and said person acknowledged that they signed this instru ent, on oath stated that they were authorized to execute the instrument and acknowledged i as the of to be their free and voluntary act of such party for the uses and purposes mentioned in th nstrument. DATED this day of 20 (SEAL) Notary Public Printed Name Residing at } My appointment expires s V` 9,e/ - n,V1A\1 F f _ { Parcel No. 149450-0050-09 Page 7 of 29 !1 I • . : CALIFORNIA ACKNOWLEDGMENT CIVIL CODE § 1189 A notary public or other officer completing this certificate verifies only the identity of the individual who signed the document to which this certificate is attached,and not the truthfulness,accuracy,or validity of that document. State of California /�/J j �!/County of I R//V t 1 On /ffJ�j is7 3 ZOi > before me,Tent,p h 1, IOW p hAl, /WAt2y P✓b/, Date Here Insert Name and Title of the Officer personally appeared ''��t•Pf4 :1?✓rI I. eju Name(s)of Signer(s) who proved to me on the basis of satisfactory evidence to be the person(e+whose name(s)-is/are subscribed to the,within instrument,and:acknowledged:-to.me that;he/sletttiey executed the same in,his/herhheeir authorized capacity(ies),and'that by his/hedtheir signature(s)•on the instrument'the,person(s),or.the entity ' upon behalf of which the personfs)acted,executed the instrument. I certify under PENALTY OF PERJURY under the rawaha6*.m......4646.1 laws of the State of California that the foregoing IostatiT.tISUGlfLiti paragraph is true and correct. Notary,Public-•California• : �.. I'_ hiarin•County t:,.� tomml4ian#1204106 WITNESS my hand and official seal. My,Cpmm,Expi'res Ju116;2023 : . Signature Place Notary Seal and/or Stamp Above Signa .- of Notary Public • OPTIONAL Completing this information can deter alteration of the document or fraudulent reattachment of this form to an unintended document. Description of Attached Document Title or Type of Document: Document Date: Number of Pages: Signer(s) Other Than Named Above: Capacity(ies)Claimed by Signer(s) , Signer's Name: . Signer's Name: o Corporate Officer—Title(s): 0 Corporate Officer—Title(s): ❑ Partner— ❑ Limited 0 General 0 Partner— 0 Limited 0 General ❑ Individual 0 Attorney in Fact 0 Individual 0 Attorney in Fact ❑ Trustee 0 Guardian or Conservator 0 Trustee ❑ Guardian or Conservator o Other: ❑ Other: Signer is Representing:, Signer is Representing: t .fts4 £ ©2018 National Notary Association EXHIBIT "A" PROPERTY LEGAL DESCRIPTION { EXHIBIT A PROPERTY DESCRIPTION SW 1/4 OF SEC. 03, T. 23 N., R. 05 E.,W.M. { CITY OF RENTON, KING COUNTY, WA LOT 5 OF CENTRAL HIGHLANDS PLAZA, PER AMENDED BINDING SITE PLAN RECORDED UNDER VOLUME 176 OF PLATS, PAGES 76-77, KING COUNTY RECORDS OF KING COUNTY, WASHINGTON. { 5i } tsA. IczpA ;Q O4/ASU,719, . y A � * ownv 444is 6._I's=zoza Parcel No. 149450-0050-09 Page 8 of 29 • y I gI EXHIBIT"B" UTILTY/SLOPE EASEMENT LEGAL DESCRIPTION EXHIBIT B FOR UTILITY/SLOPE EASEMENT SW 1/4 OF SEC. 03, T. 23 N., R. 05 E.,W.M. CITY OF RENTON, KING COUNTY,WA A PORTION OF LOT 5 OF CENTRAL HIGHLANDS PLAZA, PER AMENDED BINDING SITE PLAN RECORDED UNDER VOLUME 176, PAGES 76-77, KING COUNTY RECORDS, SAID PORTION BEING MORE PARTICULARLY DESCRIBED AS FOLLOWS: COMMENCING AT THE SOUTHEAST CORNER OF SAID LOT 5, ALSO BEING THE WESTERLY MARGIN OF DUVALL AVENUE NORTHEAST; THENCE NORTH 01'19'44" EAST 16,37 FEET ALONG SAID WESTERLY MARGIN TO THE TRUE POINT OF BEGINNING; THENCE NORTH 88'40'16"WEST 5,00 FEET; THENCE NORTH 01'19'44" EAST 17.00 FEET;THENCE SOUTH 89'4016° EAST 5.00 FEET TO SAID WESTERLY MARGIN; THENCE SOUTH 01'19'44" WEST 17.00 FEET ALONG SAID WESTERLY MARGIN TO THE TRUE POINT OF BEGINNING; TOGETHER WITH A PORTION OF SAID LOT 5 BEING MORE PARTICULARLY DESCRIBED AS FOLLOWS: COMMENCING AT THE.SOUTHEAST CORNER OF SAID LOT 5, ALSO BEING SAID WESTERLY MARGIN; THENCE NORTH 01'19'44° EAST 86.27 FEET ALONG SAID WESTERLY MARGIN TO THE TRUE POINT OF BEGINNING; THENCE NORTH 8840"16"WEST 3.00 FEET; THENCE NORTH 01'19'44" EAST 16.27 FEET; THENCE NORTH 88'40'16" WEST 2.00 FEET; THENCE NORTH 01'19'44" EAST 15.00 FEET; THENCE SOUTH 88'40'16" EAST 5,00 FEET TO SAID WESTERLY MARGIN; THENCE SOUTH 01'19'44°WEST 31.27 FEET ALONG SAID WESTERLY MARGIN TO THE TRUE POINT OF BEGINNING; TOGETHER WITH A PORTION OF SAID LOT 5 BEING MORE PARTICULARLY DESCRIBED AS FOLLOWS: COMMENCING AT THE SOUTHEAST CORNER OF SAID LOT 5, ALSO BEING SAID WESTERLY MARGIN; THENCE NORTH 01'19'44° EAST 194.02 FEET ALONG SAID WESTERLY MARGIN TO THE TRUE POINT OF BEGINNING; THENCE NORTH 88'40'16" WEST 3.00 FEET; 'THENCE NORTH 01'19'44° EAST 17.00 FEET; THENCE SOUTH e>t'40'16" EAST 2.00 FEET; THENCE NORTH 01'19'44° EAST 41,43 FEET; THENCE SOUTH 88'40'16" EAST 1.00 FEET TO SAID WESTERLY MARGIN;THENCE SOUTH 01'19'44" WEST 58.43 FEET ALONG SAID WESTERLY MARGIN TO THE TRUE POINT OF BEGINNING; TOGETHER WITH A PORTION OF SAID LOT 5 BEING MORE PARTICULARLY DESCRIBED AS FOLLOWS: COMMENCING AT THE NORTHEAST CORNER OF SAID LOT 5 ALSO BEING SAID WESTERLY MARGIN; THENCE SOUTH 04'46'55"WEST 157.93 FEET ALONG SAID WESTERLY MARGIN TO A POINT ON A TANGENT CURVE TO THE LEFT, WITH A RADIUS OF 1642,00 FEET; • Parcel No. 149450-0050-09 Page 9 of 29 s ( EXHIBIT"B" (CONTINUED) UTILTY/SLOPE EASEMENT LEGAL DESCRIPTION EXHIBIT B CON'T FOR UTILITY/SLOPE EASEMENT SW 1/4 OF SEC. 03, T. 23 N., R. 05 E.,W.M. CITY OF RENTON, KING COUNTY, WA THENCE SOUTHERLY ALONG SAID CURVE THROUGH A CENTRAL ANGLE OF 01'19'53", AN ARC LENGTH OF 38.16 FEET ALONG SAID WESTERLY MARGIN TO THE TRUE POINT OF BEGINNING; THENCE CONTINUING ON SAID CURVE TO THE LEFT WITH A RADIUS OF 1642.00 FEET, THROUGH A CENTRAL ANGLE OF 02'17'18", AN ARC LENGTH OF 65.58 FEET ALONG SAID WESTERLY MARGIN; THENCE SOUTH 01'19'44" WEST 34.48 FEET ALONG SAID WESTERLY MARGIN; THENCE NORTH 88'40'16" WEST 5.00 FEET; THENCE NORTH 01'20'08" EAST 40.00 FEET; THENCE SOUTH 88'40'16" EAST 3.00 FEET TO A POINT ON A NON—TANGENT CURVE TO THE RIGHT WITH A RADIUS OF 1644.00 FEET, THE CENTER OF WHICH BEARS SOUTH 88'28'44" EAST; THENCE NORTHERLY ALONG SAID CURVE THROUGH A CENTRAL ANGLE OF 2'05'46", AN ARC LENGTH OF 60.14 FEET; THENCE SOUTH 88'22'58" EAST 2.00 FEET TO SAID WESTERLY MARGIN AND THE TRUE POINT OF BEGINNING; TOGETHER WITH A PORTION OF SAID LOT 5 BEING MORE PARTICULARLY DESCRIBED AS FOLLOWS: COMMENCING AT THE NORTHEAST CORNER OF SAID LOT 5 ALSO BEING SAID WESTERLY MARGIN; THENCE SOUTH 04'46'55" WEST 40.47 FEET ALONG SAID WESTERLY MARGIN TO THE TRUE POINT OF BEGINNING; THENCE CONTINUING SOUTHERLY ALONG SAID WESTERLY MARGIN SOUTH 04'56'55" WEST 113.39 FEET; THENCE NORTH 85'03'06" WEST 3.00 FEET; THENCE NORTH 04'56'55" EAST 9.39 FEET; THENCE SOUTH 85'03'05" EAST 2.00 FEET; THENCE NORTH 04'56'55" EAST 32.98 FEET; THENCE NORTH 85'03'05" WEST 4.00 FEET; THENCE NORTH 04'56'55" EAST 15.00 FEET; THENCE SOUTH 85'03'05" EAST 4.00 FEET; THENCE NORTH 04'56'55" EAST 47.02 FEET; THENCE NORTH 85'03'05" WEST 2,00 FEET; THENCE NORTH 85'03'05" EAST 9.00 FEET; THENCE SOUTH 04'56'55" EAST 3.00 FEET TO SAID WESTERLY MARGIN AND • THE TRUE POINT OF BEGINNING. CONTAINING 832 SQUARE FEET, MORE OR LESS. { '� .04 ansy44,c!i�. I E i"' 4.{.4•1 AIM S4$89 ` , }. Fs4m4:C/ste '." vN �wx 445.'30Z° Parcel No. 149450-0050-09 Page 10 of 29 H t I EXHIBIT"C" TEMPORARY CONSTRUCTION EASEMENT DEPICTION EXHIBIT C TEMPORARY CONSTRUCTION EASEMENT • } SW 114 OF SEC. 03, T. 23 N., R. 05 E., W.M. CITY OF RENTON, KING COUNTY, WA ----__--_-----,—L_.._ _--- �'!61 , i At -6 - •T.P.0.B. o �,: 140 t39 159 .-r; L41 0 N . . 100' L59 _ , - .L42 ........ =100' Ly'7. ,. 0"i ,, L43 Parametrix , -- " ,f�. L45 (- APN 1494500050 ) / Los .: ARGO RENTON LLC - {8', �# 4601 NE SUNSET BLVD 98059 er.;. " + UiU Lai 1 �6T25'43"E- „ LOT 5 (RAniA) 1;52 CENTRAL HIGHLANDS PLAZA AMENDED BSP VOL 176, PGS 76-77 119: + Lu Liz ��„ E21: i > L18I : . j _IL15 I' , 'L3 L12' "Li 1 l24 1, 12a. 110 i % 1126 p K+ �1 ��1 • ,,'cc .017 WA3,� / ,� 19 .; ':i ii 6 a R........... tr.`f 1 i,. { L'29 i j �' j LB �A 11 I" 4G689 �� f r L32: __._..__,. la�IS-ZoZo„ '!` 136: { LEGEND Li: '; T.P 0.BB... TRUE POINT OF BEGINNING IP riOzer////�//�I7S ET SE i AREA UC11ON T.P.0.9. DOSING RIGHT OF WAY UNE ---- CENTERLINE , —-------- ——— PROPERTY LINE TOTAL AREA. ( APN XXXXXXXXXXX) KING COUNTY TAX PARCEL NUMBER 4,619 SQ. FT. Parcel -No. 149450 0050 09 Page 11 of 29 li EXHIBIT"D" PERMITTED EXCEPTIONS/TITLE REPORT 1. Subject to:Covenants,conditions,restrictions,recitals,reservations,easements or other servitudes. If any,disclosed by the recorded Plat of Joseph P. Marshall Tracts;under the recording no.3250442. 2. Subject to:May Creek Flood Zone District,flood control works under the recording no.5943056. 3. Subject to: May Creek Flood Control Zone District,flood control works under the recording no.5943057. 4. Subject to:Covenants,conditions,restrictions,and easements but omitting any covenants or restriction, if any set forth in said covenants or restrictions is permitted by applicable law,as set forth in the document under the recording no.7708190846. 5. Subject to: Easements and the terms and provisions thereof under the recording no.7709210680, modified under the recording no.8104290507 and 9604300819. 6. Subject to:City of Renton Storm Sewer Easement under the recording no. 7711160658. 7. Subject to;City of Renton Water Line Easement under the recording no.771 1 1 60659. 8. Subject to:Puget Sound Power&Light for Electrical transmission and distribution Easements under the recording no.7807030820. 9. Subject to:Puget Sound Power&Light for Electrical transmission and distribution Easements under the recording no.7903060809. 10. Subject to:Covenants,conditions,restrictions,recitals,reservations,easements,easement provisions, dedications, if any,and disclosed and set forth on Central Highlands Plaza Short Plat 1: under the recording no.8002269014. 11. Subject to:Ordinance No.4025 under the recording no.8612031455. 12. Subject to:Covenants,conditions,restrictions,recitals,reservations,easements,easement provisions, dedications,if any,and disclosed and set forth on Central Highlands Plaza Binding Site Plan: under the recording no.8805200326,Amendment under the recording no.9604290131. 13. Subject to:Amendment to Binding Site Plan under the recording no.9605081004. 14. Subject to:Puget Sound Energy Easement for Transmission,distribution and sale of gas under the recording no.20111006000430. Parcel No. 149450-0050-09 Page 12 of 29 4glp Group Northwest Acquisition and Relocation Services Administrative Settlement Recommendation Date: July 27,2020 To: Flora Lee,Transportation Design Project Manager,City of Renton CC: Cindy Clark,P.E.,Parametrix From: Sonja Davis, Senior Right-of-Way Consultant,RES Group NW Subject: Administrative Settlement Recommendation City of Renton,Duvall Avenue NE Tax Parcel No.: 1499450-0050-09 Project No.: 15 Owner:Argo Renton,LLC The City's Original Offer dated 4/9/20: $72,000.00 The City's Revised Offer dated 6/25/20 $51,000.00 Owner's Proposed Counteroffer dated 7/20/20 $65,000.00 Amount of Proposed Total Settlement: $61,100.00 BACKGROUND and SUMMARY OF NEGOTIATION • On April 14, 2020, an offer was made to owners via email and Certified Mail to their California headquarter. The City's offer of$72,000 consisted of$24,000 for 2,917 SF of land in a Right of Way Easement, $20,000 for 4,819 SF of land in a Temporary Construction Easement(TCE), and $28,000 for impacted site improvements,consisting of shrubs and trees. • The negotiation with the owner ensued as soon as they received the City's offer packet. The owners voiced their dissatisfaction with the City in the past but stated that they were committed to working with the City on this project. They raised their concern over contacting their lender for it consent required on the conveyance. They felt that due to current Covid-19 circumstances, and related financial fall outs and hardships by their commercial tenants, they would rather not have to go through the lender approval process. After explanation of the necessity of the consent/release they conceded that they will follow the regulatory process. • Negotiation soon expanded into attorney fees,in which the owners requested a soft cap of$10,000 to start the review and furthermore they raised concerns regarding the possible additional impacts of the easement encumbrance and possible impacts to the future development of the property, alluding that the current the current offer value of the easement may not enough. • On June 1,2020,the City of Renton in response to the owner's concerns revised the scope of the take to minimize the easement acquisition and tighten up the easement language to eliminate issues of damage and to expedite the acquisition. A revised appraisal and review appraisal were ordered. • On June 29,2020,I present a revised offer of$51,000 to the owners electronically,the City's offer consisted of$7,000 for 832 SF of land for a Utility/Slope Easement, $19,000 for 4,619 SF of land for a Temporary Construction Easement(TCE), $25,000 for impacted site improvements. At that time,the City offered to reimburse attorney fees up to$2,500. I 0 4VGroup Northwest Acquisition and Relocation Services • July 8-10, 2020, after further negotiations, the owners agreed to, reimbursement up to $5,000 attorney fees if we can come to an amicable agreement within the next two weeks. The owner requested that the offer amount be raised to the original offer amount of$70,000. • On July 20, 2020, the owner decreased its demand to $60,000 plus $5,000 for attorney fees and sent redlined drafts of Purchase and Sale Agreement, Utility/Slope Easement, and Temporary Construction Easement. • On July 24,2020,the City proposed a settlement of$56,100,which is 10%over the offer amount and accepted most of the requested changes to the documents. In addition,the City will reimburse owner's attorney fees up to$5,000.This was followed by a concurrence by the owner. RECOMMENDATION/JUSTIFICATION The proposed administrative total settlement figure of$61,100.00,which is$5,100 or 10%above the offer amount includes$56,100 settlement plus a$5,000 attorney fees allowance. This doesn't include any fees associated to the partial release of the bank's security interest in the easement area,estimated$1,000 to be paid in escrow. This will expeditiously conclude the purchase of the property rights needed within the critical project timeline. As discussed with the City the proposed settlement is a low dollar amount compared to the risk of litigation and delays of the project. Time is of the essence,therefore this settlement is recommended,as it is reasonable and represents prudent use of the public funds.There is fairly high risk of the cost being higher than the proposed settlement if the purchase is delayed or the matter referred for litigation. As documented above,I find that proposed settlement request is consistent with the law and is reasonable, prudent,and in the public interest. Recommended: n 6/ ,716 S• ►avi ,Senior Acquisition Agent Da 7 RES Group NW Administrative Settlement Approved: Martin Pastucha,Public Works Administrator Date Public Works City of Renton . 411r i REAL PROPERTY VOUCHER AGREEMENT AGENCY NAME I hereby agree to the terms and conditions listed below and City of Renton hereby certify under penalty of perjury that the items and Renton City Hall amounts listed herein arc•proper charges,that the same or any part thereof has n rbeen paid,and that I am 1055 S.Grady Way Renton,WA 98057 authorized to sign f�e-Glai ant: (Sign in Ink) Phone:(425)430-6400 ,GRANTOR or CLAIMANT By: Name: OwneAut nzd Representative Argo Renton,LLC Date: /© -- 2 3 — 2y Z v c/o Dayna Desmond, Director of Asset Manager Argonaut Investment LLC 101 Larkspur Landing Circle, Suite 120 Larkspur,CA 94939 • Re:City of Renton—Duvall Avenue NE TAX PARCEL NUMBER: 149450-0050-09 PROJECT PARCEL NUMBER: 15 In Full,Complete and Final Payment and Settlement for the Title or Interest Conveyed or Released,as Fully Set Forth in Attached Documents: AMOUNT Utility/Easement Dated: For All Lands Convey: +$00.00 Utility/Slope Easement: 832 SF +S 7,000.00 Temporary Construction Easement(TCE)4,619 SF +$ 19,000.00 For All Damages:Site Improvements in Landscaping +$25,000.00 Less Special Benefits: Statutory Evaluation Allowance JUST COMPENSATION $51,000.00 Legal/Administrative: Administrative Settlement +$ 5,100.00 Other Items:Attorney Fees +$ 5,000.00 Lender required fees for consent +$ 3,500.00 Deductions: FINAL SETTLEMENT $64,600.00 SUBTOTAL $64,600.00 TOTAL AMOUNT TO BE PAID: $64,600.00 Right-of-Way Agent: Sonja Davis • /" 7/ old By: Date The City of Renton agrees to the terms and conditions listed above. By: Date Armondo Pavone Mayor .� REVISED OFFER LETTER Public Works Department Martin Pastucha,Administrator June 26, 2020 Argo Renton, LLC c/o Dayna Desmond,Director of Asset Management Argonaut Investments, LLC 101 Larkspur Landing Circle,Suite 120 Larkspur,CA 94939 RE: Project Name: Duvall Avenue NE Tax Parcel No: 149450-0050-09 Dear: Ms. Desmond: In our letter dated April 9, 2020, the City of Renton, offered to purchase property and/or property rights owned by you and identified as parcel number 149450-0050-09 in the amount of$72,000.00. The appraisal which resulted in our offer has now been revised because total area needed for the Permanent Utility/Slope Easement and Temporary Construction Easement has been revised. This revision makes it necessary to withdraw our earlier offer and make a new offer. Your property has been examined by qualified appraisers and appraisal reviewers who have carefully considered all the elements which contribute to the market value of your property. By law,they must disregard any general increase or decrease in value caused by the project itself. Based upon the market value estimated for your property,our offer is$51,000.00. This offer consists of: • $7,000.00 for 832 SF of land in Utility/Slope Easement • $19,000.00 for 4,619 SF of land in Temporary Construction Easement • $25,000.00 for Impacted Site Improvement You may wish to employ a professional appraiser or realtor to evaluate the City's offer. If you do so, we suggest that you employ a well-qualified evaluator so that the evaluation report will be useful to you in deciding whether to accept the City's offer.The City will reimburse up to $750.00 of your evaluation costs, proof of payment is required, upon submission of the bills or paid receipts. 1055 South Grady Way,Renton,WA 98057 • rentonwa.gov Argo Renton, LLC Page 2 of 2 June 26, 2020 Your rights, as summarized in our earlier offer letter, remain unchanged. Please feel free to direct any questions you may have to the City's representative from RES Group Northwest, Sonja Davis at (425) 577-2184. We look forward to working with you and we would appreciate a response to this offer at your earliest convenience. Sincerely, ,,, Jim Seitz Transportation Systems Director Receipt of this letter is hereby acknowledged. I understand that this acknowledgement does not signify acceptance or rejection of this offer. Date: Signature Enclosure: Appraisal Report iR 1055 South Grady Way,Renton,WA 98057 • rentonwa.gov Armondo Pavone Mayor 4R Public Works Department OFFER LETTER April 9,2020 Argo Renton, LLC c/o Adam Lofgren, Property Manager,Argonaut Investment LLC 101 Larkspur Landing Circle,Suite 120 Larkspur,CA 94939 RE: Project Name: Duvall Avenue NE Tax Parcel No: 149450-0050-09 Dear Mr.Adam Lofgren: As you likely are aware,the City of Renton is proceeding with the Duvall Avenue NE Project. As part of the project,the City needs to purchase a part of your property and/or certain property rights related to the property located at 4601 NE Sunset Blvd,Renton and identified as King County Assessor's tax parcel number 149450-0050-09.A copy of the map or"Right of Way Plan"is attached. By law the City must pay you for the property and/or property rights acquired from you,unless you choose to donate the land the property to the City.The purpose of this letter to explain to you the basis for the City's offer in order to reach an agreement with you regarding the purchase of the property needed for this project. Your property has been examined by qualified appraisers and appraisal reviewers who have carefully considered all the elements which contribute to the market value of your property. By law,they must disregard any general increase or decrease in value caused by the project itself. Based upon the market value estimated for your property,our offer is$72,000.00. This offer consists of: • $24,000.00 for 2,917 SF of land in Right of Way Easement • $20,000.00 for 4,819 SF of land in Temporary Construction Easement • $28,000.00 for Impacted Site Improvement 1055 South Grady Way,Renton,WA 98057 • rentonwa.gov Argo Renton,LLC Page 2 of 2 April 9,2020 The basis for this offer is contained in the attached report. Payment for your property and/or property rights will be made available to you approximately 30 to 45 days after you accept the City's offer,provided that there are no delays in closing the transaction. You may wish to employ a professional appraiser or realtor to evaluate the City's offer. If you do so,we suggest that you employ a well-qualified evaluator so that the evaluation report will be useful to you in deciding whether to accept the City's offer.The City will reimburse up to$750.00 of your evaluation costs upon submission of the bills or paid receipts. Please understand that every effort will be made to come to an agreement regarding this offer. However,if mutual agreement cannot eventually be reached through a voluntary negotiation,the City acting in the public interest, may use its right of eminent domain to acquire the property rights for the public use. In conformity with the Washington State Constitution and laws,the City's legal counsel will file a condemnation suit to obtain a "Court Order of Public Use and Necessity',and a trial will be held to determine the just compensation to be paid for the property and property rights acquired. This action is taken to ensure your rights as an individual property owner and the rights of all City of Renton's taxpayers are equally protected. If you have personal property presently located on the property being acquired by the City that will need to be moved, however the City will reimburse you for the cost of moving it through the Relocation Assistance program. We have attempted by this letter to provide a concise statement of our offer and summary of your rights.We hope the information will assist you in reaching a decision. Please feel free to direct any questions you may have to the City's representative from RES Group Northwest,Sonja Davis at(425)577-2184.We look forward to working with you and we would appreciate a response to this offer at your earliest convenience. Sincerely, Jim Seitz,Transportation I ctor Receipt of this letter is hereby acknowledged. I understand that this acknowledgement does not signify acceptance or rejection of this offer. Date: Signature Enclosure: Administrative Offer Report 1055 South Grady Way,Renton,WA 98057 • rentonwa.gov CIC Valuation Group,Inc. C I C Real Estate Appraisers&Consultants 5611 1191h Avenue SE, Suite 4 .‘l.L.k.1 R)\ Bellevue, WA 98006 REVIEW AND DETERMINATION OF VALUE NO. 2 PARCEL NOs. 149450-0010, -0020, -0030, -0050. TO: Sonja (Kraus) Davis, R/W, RAC Federal Aid No: STPUL-Y372 (002) RES Group Northwest 624 S. Lander Street, Suite 202 Project: Central Highlands Plaza Seattle, WA 98134 4601 NE Sunset Boulevard Renton, WA FROM: STEPHEN WM. JUNTILA, CRA, SR/WA (ret.) Map: N/A RES Group Northwest on behalf of the City of Renton is the client of this reviewer and the intended user of this report that is prepared to assist in the acquisition of real property for public purposes. The subject of this review assignment and the date of value are those of the appraisal report under review unless otherwise noted. The scope of work of the appraisal report is extended to this review. The following appraisals have been made on subject property: ALLOCATION APPRAISER DATE OF BEFORE AFTER JUST ACQUISITION TCE VALUATION VALUE VALUE COMPENSATION 1 Matt Sloan, MAI 2/22/2020 $11,569,000 $11,497,000 $72,000 $52,000 $20,000 2 Matt Sloan, MAI 6/18/2020 $11,566,0001 $11,515,000 $51,000 $32,0002 $19,000 The following determinations of value have been made on subject property: Review Appraiser Amount Date Revised Amt. Date Revised Amt. Date JUNTILA (1) $72,000 2/22/2020 (2) (3) Reviewer's Inspection and Analysis: (List building, structures, fixtures and improvements to be acquired. Explain variances, if any, between reviewer's findings and appraisal(s): FORM APPRAISAL REVIEW Tax ID #: 149450-0010, -0020, -0030, -0050. APPROVED VALUE: $51,000 OWNER'S Argo Renton LLC (Argonaut NAME: Investments, LLC) APPRAISER: Matt Sloan, MAI, SRA, SOVA Consulting DATE OF VALUE 2nd report: 6/18/2020 DATE OF 2nd REPORT: 623/2020 REVIEWER: STEPHEN WM JUNTILA Date 1st report submitted for review: 3/9/2020 Date resubmitted 6/24/2020 REVIEW DATE: 6/25/2020 CONTRACT # N/A REVIEW STATUS ACQUISITION STATUS NEW (1't Review) TOTAL UPDATE (2nd X PARTIAL X Review) CORRECTIONS EASEMENTS X REVISION OTHER TCE Cost to cure landscaping Compares favorably with AV of$12,172,100 2 Permanent easement acquisition $7,000 Impacted site improvements$25,000 Form revised 3/1/2020 CIC Valuation Group, Inc. SECTION 1 REPORT FORMAT AND PRESENTATION GOOD ADEQUATE POOR NONE LEGAL DESCRIPTION X TITLE DELINEATION X SUBJECT DESCRIPTION X ZONING X PHYSICAL FACTORS X UTILITIES X ACQUISITION AREA SIZE X ACQUISITION AREA X LOCATION EFFECTS OF ACQUISITION X PRESENTATION OF SALES X CORRELATION OF SALES X MAPS&SKETCHES X PHOTOS X COMP SALES SHEETS X TITLE REPORTS&BACKUP X SECTION 2 CALCULATIONS The following items were found to be erroneously calculated: land value None ITEM PG/SECT DOES AFFECTS VALUE DOES NOT AFFECTS VALUE Land Value Easement impact APPRAISER [X] DID [ ] DID NOT INSPECT THE SUBJECT PROPERTY APPRAISER [X] DID [ ] DID NOT INSPECT THE COMPARABLE SALES SECTION 3 DATA AND INFORMATION The following items were found to be erroneously stated: None ITEM:. ' " ._ " -`PG/SECT ' DOES AFFECTS VALUE DOES NOT AFFECT VALUE REVIEWER [X] DID [ ] DID NOT INSPECT THE SUBJECT PROPERTY REVIEWER [X] DID [ ] DID NOT INSPECT THE COMPARABLE SALES SECTION 4 CONCLUSIONS OF VALUE [NOTE: Supported by report indicated below by YES or NO;Additional support is needed if box checked below] ITEM-APPRAISED VALUE YES NO ADDITIONAL SUPPORT ESTIMATED LAND VALUE X ESTIMATED COMPENSATION FOR EASEMENT X ESTIMATED COMPENSATION FOR RESTRICTIONS X ESTIMATED VALUE OF IMPROVEMENTS X OTHER(explain) FINAL VALUE OR COMPENSATION X Form revised 3/1/2020 CIC Valuation Group,Inc. 2 REVIEW CHECKLIST FOR APPRAISAL COMPLIANCE WITH USPAP AS SET FORTH IN STANDARDS RULE 2-1 AND 2-2 PROPERTY IDENTIFICATION: Central Highlands Plaza 4601 NE Sunset Boulevard Renton, Washington 98059 EFFECTIVE DATE OF APPRAISAL: 6/18/2020 APPRAISER: Matt Sloan, MAI,SRA Indicate in the column below whether or not the appraisal complies with each of the following USPAP Standards: 2-1 (a)yes Is the appraisal clearly and accurately set forth in a manner that is not misleading? 2-1 (b) yes Does the appraisal contain sufficient information to enable the person(s) who receive or rely on the report to understand it properly? 2-1 (c) yes Does the appraisal clearly and accurately disclose any extraordinary assumptions or limiting condition that directly affects the appraisal? Does the appraisal indicate the resulting impact on value? 2-2 (a) yes Does the appraisal identify and describe the real estate being appraised? 2-2 (a) yes Does the appraisal identify the real property interest being appraised? 2-2 (a)yes Does the appraisal state the purpose of the appraisal? 2-2 (a) yes Does the appraisal define the value to be estimated? 2-2 (s) yes Does the appraisal state the effective date of the appraisal and the date of the report? 2-2 (a)yes Does the appraisal describe the extent of the process of collecting, confirming, and reporting data? 2-2 (a) yes Does the appraisal set forth all assumptions and limiting conditions that affect the analyses, opinions,and conclusions? 2-2 (a) ves Does the appraisal set forth the information considered,the appraisal procedures followed,and the reasoning that supports the analyses, opinions, and conclusions? 2-2 (a) yes Does the appraisal set forth the appraiser's opinion of highest and best use? 2-2 (a) yes Does the appraisal explain and support the exclusion of any of the usual valuation approaches? 2-2 (a)yes Does the appraisal set forth additional information that may be appropriate to show compliance with the requirements of USPAP Standards Rule 1? 2-3 (a) yes Does the appraisal have a signed certificate in accordance with Standards Rule 2-3? Form revised 3/1/2020 CIC Valuation Group, Inc. 3 REVIEW CHECKLIST FOR APPRAISAL COMPLIANCE WITH THE"FINAL RULE"STANDARDS AS SET FORTH IN THE FOLLOWING CODES OF FEDERAL REGULATIONS IF APPLICABLE: Office of Comptroller of the Currency 12 CFR Part 34 Federal Highways CFR 49 part 24 Federal Deposit Insurance Corporation 12 CFR Part 323 Office of Thrift Supervision 12 CFR Part 564 Federal Reserve System 12 CFR Part 225 FIRREA sets forth fourteen"Final Rule Standards"for acceptable appraisals for financial institutions. Answer each question with a (YES)or(NO) in the space provided below. When appropriate, please indicate the page number(s) on which each standard is presented within the report.Although the report under review is not to be relied upon by a financial institution, we find this check list informative. 1. yes Does the appraisal conform to the Uniform Standards of Professional Appraisal Practice (USPAP) adopted by the Appraisal Standards Board of The Appraisal Foundation? (Note: The departure provision of the USPAP does not apply to federally related transactions.) 2.ves Does the appraisal disclose any steps that were taken to comply with the Competency Provision of USPAP? 3.similar3 Is the appraisal based upon the following definition of market value: "The most probable price which a property should bring in a sale,the buyer and seller,each acting prudently, knowledgeably and assuming the price is not affected by undue stimulus. Implicit in this definition is consummation of a sale as of a specified date and passing of title from seller to buyer under conditions whereby: buyer and seller are typically well motivated; both parties are well-informed or well-advised and each acting in what he/she considers his/her own bes interest; a reasonable time is allowed for exposure in the open market; payment is made in terms of cash in U.S. dollars or in terms of financial arrangements comparable thereto; and the price represents the normal consideration for the property sold unaffected by special or creative financing or sales concessions granted by anyone associated with the sale." 4.ves Is the appraisal written in a narrative format or on forms that satisfy all the requirements of this section; is the appraisal sufficiently descriptive to enable the reader to ascertain the estimated market value and the rationale for the estimate; and does the appraisal provide detail and depth of analysis that reflect the complexity of the real estate appraised? 5.yes4 Does the appraisal analyze and report in reasonable detail any prior sales of the property being appraised that occurred within the last three years? • 6.N/A Does the appraisal analyze and report data on current revenues, expenses, and vacancies for the property if it is and will continue to be income producing? 7. yes Does the appraisal analyze and report a reasonable marketing period for the subject property? 8. N/A Does the appraisal analyze and report on current market conditions and trends that will affect projected income or the absorption period,to the extent they affect the value of the subject property? 9. N/A Does the appraisal analyze and report deductions and discounts for any proposed construction,or any completed properties that are partially leased or leased at other than market rents as of the date of appraisal, or any tract developments with unsold units? 10. ves Does the appraisal include in the certification required by USPAP an additional statement that the appraisal assignment was not based on a requested minimum valuation, a specific valuation, or the approval of a loan? 11. ves Does the appraisal contain sufficient supporting documentation with all pertinent information reported so that the appraiser's logic, reasoning judgment, and analysis, in arriving at a conclusion indicate to the reader the reasonableness of the market value reported? 12. yes Does the appraisal include a legal description of the real estate being appraised, in addition to the description required by USPAP? 13. N/A Does the appraisal identify and separately value any personal property,fixtures, or intangible items that are not real property but are included in the appraisal, and does the appraisal discuss the impact of their inclusion or exclusion on the estimate of market value? 14. yes Does the appraisal follow a reasonable valuation method that addresses the direct sales comparison, income, and cost approaches to market value; reconcile those approaches; and explain the elimination of each approach not used? • 3 The report appropriately relies upon the Washington Pattern Instruction 150.08 ° County records indicate the current owner purchased the property in October 2013 for$8,950,000. Form revised 3/1/2020 CIC Valuation Group,Inc. 4 • APPRAISAL REVIEW Effective Date of Appraisal: 6/18/2020 Legal Interest: Fee Market Value Appraised: [ X] AS IS [ ] When Completed [ ] When Stabilized SCOPE OF ADMINISTRATIVE APPRAISAL REVIEW: A review of appraisal components is conducted by using a twenty- four-point checklist. The appraisal report is rated in four categories per USPAP Standards Rule 3-1(c), (d), (e),and (f)and the report is assigned an Overall Rating. This Overall Rating represents the Review Appraiser's opinion as to the adequacy and appropriate-ness of the appraisal report. This Overall Rating as well as other appraisal issues are discussed in the"Comments" section of this review. The reviewer's recommendation follows these comments. Checklists are also utilized to determine compliance with USPAP and the Fourteen"Final Rule"Standards governing federally related transactions. These completed checklists are attached to this report. In completing this review, the Reviewer has: [X] Read Report [ X ] Interviewed Appraiser [ X ] Inspected Property REVIEW OF APPRAISAL COMPONENTS N/A EXCELLENT AVERAGE MARGINAL MISSING • 1. Summary of Facts&Conclusions x 2. Assumptions& Limiting Conditions x 3. Description of Site &Improvements x 4. Description of Personal Property x 5. Effective Age or Remaining Economic Life x 6. Property Ownership History x 7. Overall Area Description &Trend (macro) x 8. Neighborhood Description &Trend (micro) x 9. Supply &Demand Market Analysis x 10. Tax Analysis &Trend x 11. Zoning Analysis&Trend x 12. Easements &Other Restrictions x 13. Estimated Time to Income Stabilization x 14. Highest&Best Use as though Vacant x 15. Highest&Best Use as Improved x 16. Exposure Time &Estimated Marketing Time x 17. Property Rent&Expense Analysis x 18. Comparable Rent&Expense Analysis x 19. Analysis of Tenant Lease Terms x 20. REPLACEMENT COST APPROACH x 21. COMPARABLE SALES APPROACH x 22. INCOME CAPITALIZATION APPROACH x 23. DISCOUNTED CASH FLOW ANALYSIS x 24. RECONCILIATION OF VALUE x Form revised 3/1/2020 CIC Valuation Group,Inc. 5 APPRAISAL REVIEW REVIEWER'S RATING OF APPRAISAL REPORT Per USPAP Standards Rule 3-1 EXCELLENT AVERAGE MARGINAL Overall Completeness of Report X Adequacy&Relevance of Data &Adjustments to Date X Appropriateness of Methods&Techniques X Reasonableness of Analysis, Opinions&Conclusions X OVERALL RATING: [X] EXCELLENT [ ] AVERAGE [ ] MARGINAL REVIEWER'S COMMENTS We appreciate the opportunity to again review the work of Matt Sloan of SOVA and to be of service to RES Group Northwest and the City of Renton. We revisit the valuation of this subject due to a change in the proposed acquisitions. Our subject here is a commercial zoned (CA) four parcel assemblage comprising 349,720 SF located at the SW corner of NE Sunset Boulevard and Duvall Avenue NE, easterly of I-405 in the Highlands Park neighborhood of Renton. Site dimensions are about 600 feet wide (east-west) and with about 590 feet (average) of north-south depth. The subject is improved with four circa 1979 large box retail buildings comprising 93,571 SF and related site improvements operating as a neighborhood retail center. The tenants are an Albertson's Grocery, Planet Fitness, Big Lots and an Ace Hardware. The structures themselves are described in greater detail on page 6 and are deemed sufficiently removed from the areas proposed for acquisition as to not be damaged, retaining the same value in contribution in the After condition as they do in the Before. HABU is deemed to be the current use. (see aerial photos on pages vi and 24 and sketch on page 4). The City of Renton proposes to acquire a permanent five-foot slope and utility easement along the easterly property boundary now reduced from 2,912 SF to 832 SF. In addition to the permanent easement a strip of varying width is proposed to encumber 4,619 SF with a TCE adjacent to the permanent easement to facilitate access to the site during the construction of street improvements within the abutting Duvall Avenue NE right-of-way and easement area for a period of 24 months. The area of acquisition is improved with asphalt/curbing at three driveway locations, several trees, juniper and other shrubbery landscaping. It is the appraiser's understanding that the trees will not be removed however the groundcover juniper will likely be removed and not replaced. Asphalt pavement and curbing will be replaced if removed or otherwise impacted. The subject is valued on an "as if clean" basis. Site valuation is opined from analysis of 5 sales summarized on page 13 with complete write ups and paragraph discussions of each following. An adjustment grid is on page 19 leading to a conclusion of unit value per SF of$33.00 or a site value of$11,540,000 (rd). Impacted minor site improvements are estimated based on the Marshall Valuation Service Cost Manual, not best, but valued in contribution at a reasonable figure of$25,000 In review we concur with the Before value of$11,566,000 (rd). We appreciate the transparency of the confirmation process. The After condition is a hypothetical assuming that the acquisitions have occurred and the project is complete as designed. In this case, the After condition reflects the encumbrance of the permanent slope and utility easement and the loss of minor site improvements and landscaping within the proposed acquisition area. It also reflects the property being located on a reconfigured four-lane arterial with new curbs, gutters, sidewalks, and street lighting, significant frontage improvements, a general benefit. The Temporary Construction Easement (TCE) adjacent to the permanent easement necessary to facilitate access to the site while constructing project improvements and to tie-in existing driveway approaches with the newly configured roadway improvements is no longer encumbering the subject. Because there is no fee acquisition, the site will be the same size, shape, and general configuration in the after condition. Potential redevelopment potential is unaffected. The property will have a loss of some landscaping due the installation of utilities and construction of the project. The utility easement is valued in a direct and understandable method as to discount ranges typical in the appraisal profession. The TCE is likewise valued in the most common method similar to a short-term land lease. We note that the language explaining the easement impacts is more robust , in this second appraisal but the impacts are the same. In review we concur with these conclusions We direct the reader to the summaries on pages 28 and 29. Owner contact is reported on page 31 and is deemed adequate. Value Conclusions&Allocations • Site Area Before Condition $11,566,000 After Condition $11,515,000 Just Compensation/Diminution $51,000 Easement Acquisition (Rounded) $7,000 Temporary Construction Easement $19,000 Impacted Site Improvements $25,000 ROUNDED $51,000 Form revised 3/1/2020 CIC Valuation Group,Inc. 6 REVIEWER'S RECOMMENDATIONS Based on the above Overall Rating, and the sufficiency of the appraisal for regulatory compliance purposes, the Reviewer recommends the following: [ X ] Accept the appraisal as written. [ ]Request that the appraiser revise the existing appraisal and address the concerns and issues cited in this review, OR [ ] Have a new appraisal report prepared by another appraiser, OR [ ] Accept the valuation provided in this review appraisal Form revised 3/1/2020 CIC Valuation Group,Inc. 7 REVIEWER APPRAISER'S CERTIFICATION I HEREBY CERTIFY THAT, TO THE BEST OF MY KNOWLEDGE AND BELIEF • The facts and data reported by the Review Appraiser and used in the review process are true and correct. • That the Determination of Value which has been set forth above has been, independently reached based on appraisals and other actual data of record without collaboration or direction. • The analysis,opinions,and conclusions in this review are limited only by the assumptions and limiting conditions stated in the appraisal report under review by extension and this review report or the project file, and are my personal, unbiased professional analysis,opinions and conclusions. • • That I have no present or prospective direct or indirect personal interest the property that is the subject of this report and no personal interest with respect to the parties involved. Nor will I in any way benefit from the acquisition of such property appraised. I have no bias with respect to the property that is the subject of this report or to the parties involved with this assignment. My compensation is not contingent on any action or event resulting from the analysis, opinions, or conclusions in, or the use of this review report. • I did inspect the exterior subject property of the appraisal under review.That I have personally inspected the property to be acquired and the comparable sales applicable thereto except as set forth above • No one has provided professional assistance in the form of research and review documentation. No one else has provided significant professional assistance in completing this review, • I have not incorporated my personal opinion of value,which was formed independently of the appraisal under review, into this report. • My analysis,opinions,and conclusions were developed and this review report was prepared in conformity with the Uniform Standards of Professional Appraisal Practice. I have taken the necessary steps, when incorporating my personal opinion of value into this review to: satisfy the requirements of the Uniformed Standards of Professional Appraisal Practice, Standards Rule 1; identify and set forth any additional data relied upon and the reasoning and basis for the different estimate of value; and clearly identify and disclose all assumptions and limitations connected with forming my personal opinion of value. • My engagement in this assignment was not contingent upon developing or reporting predetermined results • I have performed one prior valuation services related to the subject property I reviewed an earlier report by the same apaiser. • My analyses,opinions,or conclusions were developed and this review report was prepared in conformity with the Local Agency Guidelines established by the Washington State Department of Transportation and USPAP. • That the Determination of Value which has been set forth above has been, independently reached based on appraisals and other actual data of record without collaboration or direction. APPRAISER'S ESTIMATE OF VALUE OR JUST COMPENSATION $51,000 REVIEWER'S RECOMMENDATION $51,000 The Reviewer [ ] DOES [ X] DOES NOT recommend a second appraisal. Please see Appraisal Project File for a complete document as to Assumptions and Limiting Conditions as well as Certifications. Signature Stephen Wm Juntila, CRA, SR/WA (ret) Washington State Certified General Real Estate Number 27011-1100650 Date 6/25/2020 Form revised 3/1/2020 CIC Valuation Group, Inc. 8 City of Renton CONCURRENCE AND AUTHORIZATION The City of Renton does hereby indicate concurrence with the above certification and does authorize further action by the appropriate Department and/or its agents to proceed according to established procedures with the acquisition of the property. 1. I have no present or prospective interest in the property that is the subject of this report; and 2. I have no personal interest or bias with respective to the parties involved; and 3. My compensation is no contingent on an action or event resulting from this report. Title Date • • Form revised 3/1/2020 CIC Valuation Group,Inc. 9 Appraisal • Valuation • Consulting APPRAISAL OF THE CENTRAL HIGHLANDS PLAZA PROPERTY 4601 NE SUNSET BOULEVARD RENTON, WASHINGTON - 1k >stiripr A N. 1 1 e r. z •' PREPARED FOR M .Sorg.\DAViS RES GROUP NW 624 S. LANDER STREET,SUITE 202 SEATTLE,WA 98134 PREPARED BY SOVA CONSULTING 925 FOURTH AVENUE,STE 2000 SEATTLE,WA 98104 SOVA PROJECT 20014A 925 Fourth Ave Ste 2000 Seattle,WA 98104 Appraisal . Valuation • Consulting Greg Goodman,MA1,206.369.0451 Matt Sloan MAI,SRA,206.234.6458 June 23,2020 Ms. Sonja Davis RES Group NW 624 S. Lander Street, Suite 202 Seattle,Washington 98134 RE: Appraisal Report Central Highlands Plaza 4601 NE Sunset Boulevard Renton,Washington 98059 Dear Ms. Davis: In response to your request,we have completed an appraisal of the above referenced property.The purpose of the appraisal is to report our opinions and conclusions of the market value of the subject property"before and after" a proposed partial acquisition by the City of Renton.This appraisal is intended for use by RES Group NW and the City of Renton,as well as both parties'agents, representatives,and legal counsel.The appraisers do not intend use of this report by others. The subject property consists of a four-parcel assemblage located at the southwest corner of NE Sunset Boulevard and Duvall Avenue NE, east of Interstate 405 (1-405) in the Highlands Park neighborhood of Renton. The site is of a typical square/rectangular shape, has a level to gently sloping topography,and is at or near grade of fronting streets. It contains a total of 349,720sf(8.03 acres)and is zoned Commercial Arterial(CA) by the City of Renton. The site is improved with a neighborhood retail center with four large, box retailers including Albertson's, Planet Fitness, Big Lots, and Ace Hardware. The buildings contain a total approximately 93,571sf and were constructed in 1979. The buildings appear to be in average condition based on our exterior observations. The proposed acquisition consists of about five small, sporadic areas along the easterly property boundary, a total of 832sf. The encumbered areas will contain small areas of streetlights, stormwater catch basins, vaults, and other surface improvements that will straddle the property boundary but will largely contain subsurface/aerial utilities and slopes with surface areas available for landscaping. In addition to the permanent easement, an additional adjacent strip of varying depth will be encumbered with a Temporary Construction Easement (TCE) to allow contractors access to the site while constructing street improvements within the abutting Duvall Avenue NE right-of-way and easement area for a period of 24 months.The area of acquisition is improved with asphalt/curbing at three driveway locations,several mid-size to large trees and extensive juniper and small shrub landscaping. It is our understanding the trees will not be removed;juniper groundcover may be removed and not replaced.Asphalt pavement and curbing will be replaced if removed/impacted.The TCE area will occupy 4,619sf for 24-months. This Appraisal Report is intended to comply with the reporting requirements set forth under Standards Rule 2-2(a) of the Uniform Standards of Professional Appraisal Practice (USPAP), as well as Federal, State, and local requirements. As such, it presents detailed discussions of the data, reasoning, and analyses that were used in the appraisal process to develop the appraiser's opinion of value. Additional supporting documentation and analyses is retained in the appraiser's file. Based on our research and analysis, it is our opinion the market value of the subject site, "before and after"the proposed acquisition,as of June 18, 2020, is: Value Conclusions&Allocations 'Site Area Totalw__ Before Condition $11,566,000 After Condition $11,515,000 Just Compensation/Diminution $51,000 Easement Acqusition(Rounded) $7,000 Temporary Construction Easement $19,000 Impacted Site Improvements $25,000 ROUNDED $51,000 We note that as of the date of this analysis,we are still in the early stages of the COVID-19 outbreak, particularly with regard to the ultimate impact on real estate markets. Though anecdotal trends are emerging, we have limited market activity to accurately determine current or predict short-term value impacts.Short-term volatility is anticipated due to continued uncertainty and data to support quantifiable adjustments at this time. Users of this report are cautioned that market conditions may change rapidly in the foreseeable future. If you have further questions not answered in the accompanying report or if we can be of additional assistance, please do not hesitate to contact us. Sincerely, (11.\_04.2. 0_, (gut-- Matthew C.Sloan, MAI,SRA SOVA Consulting Enclosures Central Highlands Plaza 20014a-Copyright©2020 Transmittal Page 2 JSOVA Appraisal.Valuation.Consulting GENERAL ASSUMPTIONS AND LIMITING CONDITIONS In addition to extraordinary assumptions and hypothetical conditions described in this report(if any),the following general assumptions and limiting conditions apply to this appraisal. Use of this report implies acceptance of the assumptions and conditions. A. No responsibility is assumed for matters, which are legal in nature, nor is any opinion rendered on title of land appraised.The property is free and clear of liens,encumbrances,and encroachments unless otherwise described. Title of the property is good and merchantable. The property is under responsible ownership and competent matters, with all associated entities acting in the best interest of themselves and the property. There are no pending or existing judgements or litigation against the property. B. There has been no significant change to the subject property and market conditions remained stable between the date of inspection, date of value, and transmittal date of this report, unless otherwise noted. Value conclusions are effective as of the date of value, and no responsibility is assumed for altered property characteristics or changing market conditions that occur after this date. C. The property is in compliance with all applicable building,environmental,zoning,and other federal,state,and/or local laws,regulations,and codes, including the Americans with Disabilities Act(ADA).We assume no pending or likely changes that may impact value unless specifically stated herein. D. Information provided by the client and other sources including surveys, legal descriptions, title reports, legal matters,soil/subsoil conditions,and available utilities including water rights are correct. E. There are no unapparent conditions that, if known,would impact the property's current or anticipated use(s) or • market value.This includes but is not limited to soil stability,environmental contamination,structural conditions, and hazardous building materials that are not obvious to the naked eye and observable during a typical tour/inspection. No hazardous materials are currently or have previously been stored on the property. F. Sketches, maps,illustrations,depictions,or other exhibits developed by the appraiser(s) may not be to scale and have been included solely to assist the reader in visualizing and understanding the property. G. To the best of the appraiser's knowledge and belief, all statements and information in this report are true and correct, and no important facts, known to us, have been withheld or overlooked. Property data obtained from public records, including parcel and building sizes, uses, zoning, and recorded documents is accurate. The allocation of real estate,personal property,and other consideration detailed on real estate tax affidavits is correct. Information provided by owners,brokers,developers,and other parties regarding the property,market conditions, and comparables is accurate. H. If land value and the contribution of building/site improvements are allocated in this report, the improvement value reflects their contribution to the subject site only.The concluded value of improvements cannot be used in conjunction with any other appraisal or analysis. Retrospective value opinions are effective as of the date of value, without consideration of events that were unknown or unlikely to have occurred between the date of the value and report date. Prospective value opinions require forecasts, projections, and estimates of future market conditions.These forecasts are based on current market conditions and likely/anticipated future changes and do not reflect that unexpected or unlikely events will occur. J. Possession of this report does not imply holder is an intended user.The appraisal report must be transmitted and considered in its entirety. No individual pages or portions of the analysis may be used or relied upon separately from other portions of the analysis. Holder(s)of this report have no right of publication or further distribution. K. Liability of SOVA Consulting is limited only to the client(s) and limited to the fee for the assignment. Unless specifically addressed in the contractual scope-of-work, the appraiser(s) are not required to provide further • consultation,testimony,or participate in mediation,arbitration,or court proceedings. L. The appraiser(s) have no present or contemplated interest in the property and are not bias in any other way. Compensation for this assignment is in no way contingent on assignment results. Central Highlands Plaza 20014a-Copyright©2020 Page i �SOVA Appraisal.Vaioat,on•Consulnna TABLE OF CONTENTS Page Letter of Transmittal Assumptions and Limiting Conditions Executive Summary Subject Property Photographs Introduction 1 Factual Data 4 Area/Market Analysis 7 Highest and Best Use 10 Before Condition Valuation 12 After Condition Analysis 22 Before and After Value Conclusion 29 Addenda 32 Title Report Proposed Easements Appraiser Qualification Central Highlands Plaza 20014a-Copyright©2020 Page ii U S V . APPRAISAL SUMMARY AND CONCLUSIONS Property/project: Central Highlands Plaza Property Location: 4601 NE Sunset Boulevard, Renton,WA Site Size: 349,720sf Improvements: Retail buildings and site improvements(93,571sf) Utilities: All available Zoning: CA(Commercial Arterial) Highest and Best Use: Continued use of the existing improvements Acquisition Description: Utility and Slope Easement containing 832sf and a corresponding 24-month TCE Value Conclusions: Before Condition: $11,566,000 After Condition: $11,515,000 Diminution/Just Compensation: $51,000 Date of Valuation: June 18,2020 Appraisers: Matthew Sloan, MAI,SRA File: 20014a Central Highlands Plaza 20014a-Copyright©2020 Page iii ESOVA AERIAL PHOTO z. " a` °w, , ,,,..,;:,, , 04 ec 0-',..: '''',');',. , ,,I . .,,-, , .., I t t ,, k -f. 1t 'ct #, ■■'', ,. ' 1 :' ', :.:(',')t' ..1' pi, ':` „., , ,.x ems# .,. ar `' 44r 4 ; : 4.r�� r - , t- e- t^ 1::., ,., .. * ',' ,5: ,,,;,' 4P,r ri , , .. I n 4 _. X - ' p a oy .b _. _ tq, yy�' 10 rt + Z0 .., _ , i.,:,_ f .,. sir,... _.....,,,, ........„ -. i .� _ ' e . 4,, t ,, v ... ., . , , ... . , , . ,. , .i f- ` -;. -,--„-• '' Central Highlands Plaza 20014a-Copyright©2020 Page iv Iso�.co�s�m�a NEIGHBORHOOD MAP ,.5 , 1I 11sjI 1 Bellevue wr 3 • Newcastle 4601 Northeast ...�.. Sunset Boulevard 405 • Renton Maple Kent Central Highlands Plaza 20014a-Copyright©2020 WVI!Lfl, SUBJECT PHOTOS 46. �• _a trormr. rm. Subject property as 4 A • ..'ar ,. •a,.. Le • �nr-. L` Subject property Central Highlands Plaza 20014a-Copyright©2020 Page vi USOVA Appraisal.Valuation•Consulting SUBJECT PHOTOS r t r n c;>• ° .ems ... Y !.• lea . g .,+ +,' nr Existing frontage on Duvall Avenue NE(facing north from southerly driveway) y� s. jn. j ,., • ice. I A. r ,l a w '11-41,011 Lxisting frontage on Duvall Avenue NE (facing south from northerly driveway) Central Highlands Plaza 20014a-Copyright©2020 Page ViI SOYA SUBJECT PHOTOS i. ;' k A M o F; T at "+ ht 'i `...- .vim . [ s , f A y Approximate location of property boundary/right-of-way j'. .... y+ c' 4. ..ter*' — * -__as ' 7 M 1 ►". 1 . k "'Y °t' _yr - Approximate location of proposed utility and slope easement Central Highlands Plaza 20014a-Copyright©2020 Page viii M. SOYA Appraisal Valva:ion Conzutt�n3 SUBJECT PHOTOS : ice; , .•k ` JYf r Y . Y. �� 4 I i i. e:#."0 a, s� e(" p �I y �Y V11a �! rfi . f:,:,4...i,..-..i'..t.' $.*. '..,'''`4 : :'1,,1, A R' p ". $ ,Z ', " ty�� { �9 � ° �ynY Y { a tetI k ' y�It w4Y^ 'i a ' -. ', ' �YP_ � i ' k . Approximate location of proposed TCE a47T1+ r 1,. - 9. • a ax- .• a = -' .s . tx} 7 _ :,tea. "-"'p+►""#p' G t ,......_ J > L }✓4 q Fa �' t, Juniper/shrubs within permanent easement/TCE area may be removed Large trees will be retained Central Highlands Plaza 20014a-Copyright©2020 Page ix UISQVt,, . INTRODUCTION Identification of the Subject Property/Legal Description The subject property consists of a four-parcel assemblage located at the southwest corner of NE Sunset Boulevard and Duvall Avenue NE, east of Interstate 405 (1-405) in the Highlands Park neighborhood of Renton. The site is of a typical square/rectangular shape,has a level to gently sloping topography,and is at or near grade of fronting streets.It contains a total of 349,720sf(8.03 acres)and is zoned Commercial Arterial(CA)by the City of Renton. The site is improved with a neighborhood retail center with four large, box retailers including Albertson's, Planet Fitness, Big Lots, and Ace Hardware. The buildings contain a total approximately 93,571sf and were constructed in 1979. The buildings appear to be in average condition based on our exterior observations. A complete legal description can be found in the title report provided by the client,a copy of which is included in the Addenda to this appraisal.The property is further identified as Assessor's Parcel Numbers 149450-0010, -0020,-0030,-0050. Purpose of the Appraisal The purpose of this appraisal is to report our opinions and conclusions of the market value of the subject property in the before and after conditions. The difference between the before and after conditions (plus the TCE) is the diminution in value resulting from the acquisition,or just compensation due the property owner. Client/Intended Use/Intended Users The client for this assignment is RES Group NW, acting on behalf of the City of Renton. Intended users of this report include the client's authorized employees, representatives, agents, and/or legal counsel, as well as the City of Renton. The intended use of this report is to assist the client and City of Renton in the acquisition of property rights required for the Duvall Avenue NE improvement project. Property Rights Appraised The property right appraised is the fee simple interest subject to existing easements, covenants, and deed restrictions. Fee simple interest is defined as:1 Absolute ownership unencumbered by any other interest or estate,subject only to the limitations imposed by the governmental powers of taxation,eminent domain,police power,and escheat. An easement is defined as follows:2 An interest in real property that transfers use,but not ownership, of a portion of an owner's property. 1 From The Appraisal of Real Estate,Fourteenth Edition,2013,Appraisal Institute,page 5. 2 From The Appraisal of Real Estate,Fourteenth Edition,2013,Appraisal Institute,page 74. Central Highlands Plaza 20014a-Copyright©2020 Page 1 EISovultin6 Definition of Value The property has been appraised for market value.The definition of Market Value is as follows:3 The amount of cash which a well-informed buyer, willing but not obligated to buy the property, would pay,and which a well-informed seller, willing but not obligated to sell it, would accept,taking into consideration all uses to which the property is adapted or may reasonably be adaptable. Appraisal Problem/Scope of Work The appraisal problem is to report our opinion of property value diminution as a result of the proposed acquisition.The before condition reflects the property(land and impacted site improvements only) as it exists today, prior to the proposed acquisition and without prior knowledge of the project. We note the property is located on an older,4-lane arterial with a center two-way turn lane.The after condition assumes the acquisition has occurred and the project is complete as designed. In this case,the after condition reflects the encumbrance of the utility and slope easement and the loss of site improvements and landscaping within the acquisition area. Further,it reflects the property being located on a newly reconfigured four-lane arterial with new curbs,gutters, sidewalks, and street lighting. A TCE adjacent to the permanent easement is necessary to allow contractors access to the site while constructing project improvements and to tie-in existing driveway approaches with the newly configured roadway improvements,which has also been analyzed. The scope initially considered all three standard approaches to value: Cost Approach, Income Approach and Sales Comparison Approach. Following our review,we conclude the improvements will not be impacted by the acquisition and they have been excluded from our analysis.This appraisal consists of a before and after analysis of the underlying land and impacted site improvements.The most typical approach to value vacant land is the Sales Comparison Approach; the Cost Approach is not relevant because the building improvements have been excluded and the Income Approach is typically only relied upon for improved properties. Our valuation relies only on the Sales Comparison Approach, an analysis of the most recent and comparable commercial development land sales in the subject or competing neighborhoods. We have relied upon a modified Cost Approach in determining the contribution/replacement cost of site improvements that will be removed but not replaced by the project.The TCE has been analyzed as a rate-of-return to the underlying land value.In appraising the subject property,the following was performed: • Discussed the project and subject acquisition with project engineers and client representatives • Inspected the property(exterior only) • Inspected the subject and competing neighborhoods • Researched King County records,Costar,and CBA databases for comparable sales • Confirmed all sales with buyers,sellers,their agents,and/or public records • Inspected all comparable sales used in this analysis • Reviewed all documents as cited throughout this report 3 From Washington Pattern Jury Instructions,WPI 150.08 Central Highlands Plaza 20014a-Copyright©2020 Page 2 ESova Ao oaisa:.Vala:on Consuttng Date of Inspection/Valuation The subject property was not inspected with the property owner. The appraiser discussed the property and proposed acquisition with the owner's Asset Manager, Dayna Desmond, who authorized the appraisers to inspect the property independently. The appraisers inspected the property from the public right-of-way and acquisition area on numerous occasions, most recently on June 18, 2020.The effective date of this appraisal is as of the most recent inspection by the appraiser on June 18, 2020. Ownership and Five-Year Sale History According to the King County records and the title report contained in the Addenda, ownership of the subject property is vested in Argo Renton LLC (Argonaut Investments, LLC). County records indicate the current owner purchased the property in October 2013 for$8,950,000. Exposure Period Based on the sales and listings relied upon in this appraisal,as well as the marketing time reflected in the market analysis section of this report, a typical exposure period prior to sale of about 6 to 12 months is considered to have occurred prior to the valuation date. Extraordinary Assumptions/Hypothetical Conditions Hazardous Waste We have not been provided information regarding environmental contamination/hazardous waste on the subject property. We assume the property is clean and free of contaminates that would result in a negative impact to its market value. If contamination or hazardous waste is found to be present on the subject property, our value conclusion may be impacted. Project Influence State and Federal standards require the appraiser is to disregard any decrease or increase in the fair market value of the subject caused by the project in the before condition.This is a Jurisdictional Exception Rule to USPAP in order comply with this local legal requirement, which is found in RCW 8.26.180 and WAC 468 100 102 (2). Project influence is considered in the after condition per Washington Pattern Jury Instructions. Larger Parcel In eminent domain, unity of ownership (title/control), contiguity, and current use are the three conditions that establish a larger parcel ownership. In this case,the subject consists of four separate tax parcels,with the largest parcel containing the shared parking and areas of circulation around the building structures.The other three tax parcels consist of building footprint areas only.The four parcels are all commonly owned, physically contiguous and put to the same or a complimentary use; no adjacent uses are commonly owned or jointly used. As such, we conclude the four tax parcels described herein constitute the larger parcel ownership. Personal Property There is no personal property included in the concluded values. Central Highlands Plaza 20014a-Copyright©2020 Page 3 OVAEIS uation.Consulting FACTUAL DATA Description of the Subject Site Site The subject property consists of a four-parcel assemblage located at the southwest corner of NE Sunset Boulevard and Duvall Avenue NE, east of 1-405 in the Highlands Park neighborhood of Renton. The site is of a typical square/rectangular shape and contains a total of 349,720sf(8.03 acres). Site dimensions are about 600 feet wide(east-west)and with about 590 feet(average)of north-south depth. e -•ae ! P ( a l' 7 i•: s... mi.ma J{t 32)141 it faasG I/Al0 t t 4 r. m Topography Topography is generally level to only gently sloping and is at-grade or near-grade with the fronting streets and surrounding parcels. It is slightly below grade of Duvall Avenue NE. Access/Exposure The property has direct access and exposure to both NE Sunset Boulevard and Duvall Avenue NE, both of which are commercial arterials that make-up the north and east property boundaries, respectively.The west property boundary consists of Anacortes Avenue NE, a lower-volume side street that provides secondary access to the subject and a variety of apartments to the south and west.Sunset Boulevard NE is the most significant east-west corridor through the subject neighborhood, providing regional access to 1-405 to the west. The property has average commercial exposure, with two intervening pad sites partially blocking exposure to Sunset Boulevard NE, but it has good exposure to Duvall Avenue NE. Central Highlands Plaza 20014a-Copyright©2020 Page 4 iii S OVA Appraisal.Val.:ion.Consulting Sensitive Areas According to available mapping and per an inspection of the property, the site contains no apparent environmentally sensitive areas that would hinder development or have a negative impact on market value. Soils No soil information was provided by the client. Based on the existing improvements on the subject and surrounding properties, the soils are assumed adequate for development. Utilities All typical utilities, including electricity,sewer,gas,water,and telephone services are available to the site. Easements and Encumbrances The property is impacted by a variety of encumbering easements,though most are relatively minor/typical and do not impact the current use,nor will they have a significant impact on likely future uses.We note a stormwater drainage easement that bisects the parking lot and perimeter utility easements. There are reciprocal parking and access agreements with the frontage pad sites,which is typical for this property type. Zoning The subject is zoned Commercial Arterial (CA) by the City of Renton. The purpose of the Commercial Arterial Zone (CA) is to evolve from "strip commercial" linear business districts to business areas characterized by enhanced site planning and pedestrian orientation, incorporating efficient parking lot design, coordinated access, amenities and boulevard treatment with greater densities. The CA Zone provides for a wide variety of retail sales, services, and other commercial activities along high-volume traffic corridors. Residential uses may be integrated into the zone through mixed-use buildings. Front and secondary front yard setbacks range from 15 to 20 feet unless reduced in site plan review process. Maximum building height is 35 feet. Maximum lot coverage(building) is 65%, or 75%if parking is located within the building or in an onsite garage. iill I 6 , --nn---, is ill i If t *.e tOR-4 RM \R.8R--FL8 R-8 at. Central Highlands Plaza 20014a-Copyright©2020 Page 5 S OVA Aooasai.va manor.Conudonp Description of Improvements The site is improved with three retail buildings that together contain approximately 93,571sf and are occupied by large box retailers including Albertson's, Big Lots, Planet Fitness, and an Ace Hardware.The buildings are all similar in in design,construction and appeal,with concrete slab foundations,masonry construction,and a built- up asphalt roof. The buildings were constructed in 1979 and appear to be in average condition based on our exterior observations.Site improvements consist of a large asphalt-paved parking lot and perimeter landscaping. Following our review,we conclude the improvements are not impacted by the acquisition.As such,this analysis is of the vacant site and impacted site improvements only. The contribution of the structures (if any) are not reflected in the before or after value conclusions. Assessed Value and Real Estate Taxes The subject property is assessed and taxed by King County.The current assessed values and taxes are as follows: 2020 Assessed Values and Taxes Tax Account Land Structure Total Taxes 149450-0050 $4,712,500 $0 $4,712,500 $52,413 149450-0010 $1,093,100 $1,700,400 $2,793,500 $39,743 149450-0020 $558,900 $1,111,500 $1,670,400 $23,382 149450-0030 $972,100 $2,023,600 $2,995,700 $42,352 Total $7,336,600 $4,835,500 $12,172,100 $157,890 $/sf Land $20.98 Central Highlands Plaza 20014a-Copyright©2020 Page 6 PSpvA .ConsalUng AREA/MARKET ANALYSIS Neighborhood Description/Analysis The Seattle Metropolitan Statistical Area(SMA)and Puget Sound region are well known to intended users of this report. For brevity,these descriptions have been excluded but are available upon request. The subject properties/project are located in the Renton Highlands area of the City of Renton. Renton was incorporated in 1901 and growth over the years was often fueled by people migrating to the area to work in the booming wartime industries. In 1940,the Boeing Company built a new manufacturing plant at the south end of Lake Washington,and this remains one of the city's primary economic engines to date. Renton continues to be an important center of employment; providing over 50,000 jobs, roughly half in manufacturing.The downtown area remains fairly lively, with activity centered on government and service-related including City Hall and the Renton Library. Much of the downtown retail and commercial activity has been displaced by local malls and shopping centers.Tenants in the downtown core tend to be small family owned restaurants, thrift shops, and antique or"collectibles" businesses. McLendon's Hardware and Wal Mart are two of the larger retailers in the CBD. Two large projects in Renton have been completed over the last several years, with the most noteworthy being the large multi-use project "The Landing." Developed by Harvest Partners, this is a $300 million, 46-acre urban village style shopping center immediately at the south end of Lake Washington. It was developed on Boeing surplus property and has approximately 800,000sf of retail shops and restaurants and over 1,000 residential units(mostly townhomes and condominiums). It is expected that this project will bring a major revitalization to afterhours businesses and attract complementary office and retail development in other nearby areas of Renton. The second project is the development of a Seattle Sea hawks Training Facility along the eastern shores of Lake Washington in north Renton.Situated on 19 acres of industrial land that was formerly a tar and creosote plant, the building has 200,000sf,which makes it the second largest in the NFL.The property was developed by Vulcan Real Estate and opened in summer 2008. Properties immediately surrounding the subject consist of a variety of primarily commercial uses in older/similar- era buildings along Sunset Boulevard NE to the east and west. Pad sites between the subject and the arterial frontage include a fast food restaurant (taqueria) and a Starbucks. Properties setback from the arterial and adjacent to the property are primarily residential in nature. Retail Market Analysis The following market analysis of the retail property market is based on data obtained from the CoStar Group, Inc., a leading provider of real estate information services. The information provide begins with data for retail properties in the Puget Sound Area.Also included is the retail submarket for the subject property The following table illustrates the historical market performance of the Seattle/Puget Sound market and the subject's Renton/Tukwila submarket: Central Highlands Plaza 20014a-Copyright©2020 Page 7 PISOVA Seattle/Puget Sound Renton/Tukwila Submarket Total SF Under Net Percent Rental Rate Total SF Under Net Percent Rental Rate Quarter Square Feet Construction Absorption Vacant (Triple Net) Square Feet Construction Absorption Vacant (Triple Net) 2020 Q1 179,392,532 790,935 304,906 2.50% $21.22 11,650,688 0 -59,236 1.80% $20.55 2019 Q4 179,173,184 1,024,916 698,918 2.60% $20.87 11,650,688 0 53,218 1.30% $20.06 2019 Q3 179,075,261 1,167,962 454,454 2.90% $20.55 11,650,688 0 22,484 1.80% $21.12 2019 Q2 178,724,560 1,540,043 319,296 3.00% $20.32 11,639,715 0 22,960 1.90% $21.51 2019 Q1 178,778,470 1,376,614 -15,565 3.20% $19.94 11,639,715 0 -37,649 2.10% $21.68 2018 Q4 178,642,386 1,238,223 290,647 3.10% $20.13 11,639,715 0 15,713 1.80% $19.95 2018 Q3 178,572,947 719,467 603,519 3.20% 519.61 11,626,335 13,380 73 1.80% $17.84 2018 Q2 178,438,993 851,263 -327,913 3.50% $19.47 11,626,335 13,380 12,987 1.80% $18.97 2018 Q1 178,359,101 835,030 -17,930 3.20% $19.47 11,626,335 13,380 -27,492 2.00% $19.31 2017 Q4 178,383,171 775,342 443,475 3.30% $19.19 11,626,335 0 27,887 1.70% $18.74 2017 Q3 178,325,507 565,020 35,091 3.50% $19.21 11,627,295 0 -26,837 2.00% $19.28 2017 Q2 178,081,386 700,893 158,790 3.40% $19.15 11,627,295 0 35,521 1.70% $19.52 2017 Q1 178,485,456 681,931 585,558 3.60% $18.86 12,017,508 0 67,511 5.20% $19.92 2016 Q4 177,486,155 1,648,437 385,735 3.40% $18.69 11,611,508 406,000 14,919 2.50% $17.74 2016 Q3 177,442,818 1,528,037 -185,761 3.60% $18.42 11,600,678 416,830 -546 2.50% $17.87 2016 Q2 177,472,298 1,547,653 278,001 3.50% 518.23 11,626,883 416,830 51,013 2.70% $18.89 2016 Q1 177,607,239 1,004,848 234,420 3.80% $17.87 11,610,883 429,068 143,867 3.00% $18.07 Vacancy rates in the subject's submarket for retail space are slightly below the regional average and have remained generally stable over the past few years. Triple-net rents for retail space for the submarket as compared to the larger region at about$20.55/sf as of the current date.Overall,the retail market in the subject area generally performed consistent with other submarkets throughout the Puget Sound area.We expect rental rates to As is indicated,vacancy in the greater metro market area has experienced continued stability and improvement over the last several years.This can be attributed to strong economic conditions and thus increased demand by various users of retail space. Furthermore,this increased demand has not been met by a significant increase in supply due to the relatively limited amount of new development over the last several years, with any new construction being absorbed quickly. As such, rental rates have experienced continued stability to a slight increase over the last year, though rents are likely to trend downward in response to COVID-19, as described the following section of this report. Similarly,we anticipate retail vacancy rates to increase in response to the pandemic. COVID-19 The ongoing COVID-19 pandemic has resulted in a significant shock to real estate markets throughout the world, including Seattle and all of its submarkets. The State has been on stay-at-home orders since the middle of March, resulting in a near-shuttering of most non-essential businesses. While these restrictions have relaxed somewhat,they continue to at this time and will impact the business activity and real estate markets for the foreseeable future. The pandemic and associated stay-at-home orders have resulted in staggering layoffs throughout region, initially most significantly impacting service and hospitality but quickly spreading to other market sectors. With many businesses shuttered, the need to provide rent concessions and likely rent forgiveness will undoubtedly create immediate and likely lasting volatility and uncertainty for landlords and real estate investors because of reduced income, increased vacancy, and higher cap rates.As an example, Specialty's Café has announced the permanent closing of six locations in the Seattle area,leaving prime retail space in Central Highlands Plaza 20014a-Copyright©2020 Page 8 SOVA Appra.sal.Val.sauon•consi..,q several Amazon, Vulcan, other downtown buildings vacant. Seattle restaurateur Tom Douglas announced they would be lucky to reopen half of their existing 13 restaurants post-pandemic.These are not a unique story, but they highlight the direct correlation to demand, employment, and occupancy. Nationally, Hertz, Uber, United Airlines, IBM, and Chevron are just a few of the companies reporting plans for layoffs and store closing nationwide that will undoubtedly impact the Seattle area. The impact of the global pandemic is not limited to just the retail and services sector. The sudden and drastic reduction in air travel, combined with the grounding and pause in production of the 737 Max, have resulted in more than 10,000 Boeing layoffs throughout the Puget Sound region. These layoffs will trickle down to more associated layoffs of Boeing contractors, suppliers, and supporting roles. Prior to the COVID-19 outbreak, Puget Sound market conditions were strong and have been steady over the past few years, with generally increasing rents, low vacancy, and historically low capitalization rates. While we have limited data to accurately forecast the impact of COVID-19, what we do have suggests a significant disruption to several years of strong market conditions, particularly for retail properties. The best available data available at this time is local and national unemployment rates. Prior to COVID-19, the unemployment rate for the Seattle MSA(including Bellevue, Everett,and Tacoma)averaged about 3%from 2018 through February 2020, increasing to 5.6% in March and 16.3% in April. For comparison, unemployment reached a high of about 9.9%in January 2010 during the worst of the last recession. During the last recession, Puget Sound retail and office rents dropped by about 20%and 15%, respectively. Given the unemployment rate will somewhat rebound as stay-at-home orders are lifted, we expect a similar reduction in rents for commercial properties in the short term. Information available through market reports provided by Costar indicate an anticipated reduction in retail and office rents of about 5%to 15% over the next one to two years,though with a relatively quick recover by 2023. Given the uncertainty in COVID-19 and economic and real estate forecasts and projections, intended users of this report should consider market volatility in the short-term. Central Highlands Plaza 20014a-Copyright©2020 Page 9 SOVA Appraisal a Valuation•Consulting HIGHEST AND BEST USE Highest and best use is defined as:4 The highest and most profitable use for which the property is adaptable and needed or likely to be needed in the reasonably near future. The Highest and Best Use of a property is the use that is legally permissible, physically possible, and financially feasible which results in the highest value. The appraiser's opinion of the highest and best use is based on consideration of this criteria given market conditions as of the effective date of value and/or anticipated future conditions to the extent they impact the current market value.The Highest and Best Use is considered on an As Vacant and As Improved basis. As if Vacant In determining the highest and best use of the property as if vacant,we examine the potential for: 1) near term development, 2)a subdivision of the site, 3)an assemblage of the site with other land,or 4) holding the land as an investment. Legally Permissible Legally permissible uses are largely dictated by zoning and municipal restrictions such as overlays, neighborhood plans and other ordinances. Zoning controls the general nature of permissible uses that are appropriate for the location and physical elements of the subject property, providing for a consistent use in the general neighborhood. The subject site is zoned CA, which allows for uses including office, retail, and multifamily. We have also reviewed a title report for the subject,with no other significant easements or private encumbrances identified. We note a variety of utility easements and reciprocal parking/access agreements with the frontage pad sites,which are typical for this property type. Physically Possible The physical attributes allow for a number of potential uses. Elements such as size,shape,availability of utilities, known hazards(flood,environmental,etc.),and other potential influences are described in the Factual Data and have been considered.There are no items of a physical nature that would materially limit appropriate and likely development. Financially Feasible The probable use of the site for mixed-use development comprised of both commercial and multifamily uses conforms to the pattern of land use in the market area.A review of published yield, rental and occupancy rates suggest that there is a balanced supply and demand is sufficient to support construction costs and ensure timely absorption of additional inventory in this market.Therefore, near-term speculative development of the subject site is financially feasible. 4 The Dictionary of Real Estate Appraisal,Sixth Edition,2015,Appraisal Institute,page 109. Central Highlands Plaza 20014a-Copyright©2020 Page 10 SOVA Appraisal.Valoa,on.Constil.g Maximally Productive Among the financially feasible uses, the use that results in the highest value (the maximally productive use) is the highest and best use. Considering these factors, the maximally productive use as though vacant is for a mixed-use development comprised of some commercial but primarily multifamily uses. Conclusion of Highest and Best Use As If Vacant The conclusion of the highest and best use as if vacant is for mixed use development comprised of commercial and/or multifamily uses. As Improved In determining the highest and best use of the property as improved, the focus is on three possibilities for the property: 1) continuation of the existing use, 2) modification of the existing use, or 3) demolition and redevelopment of the land. Determining the feasibility of the existing use requires analysis of the subject's income potential to determine if the capitalized value is equal to or less than the underlying land value; an indication the improvements have reached the end of their useful economic life. The subject improvements consist of approximately 93,571sf of rentable retail.Our research of market rents for box retail in the subject's submarket indicate a range from about $10.00 to$15.00/sf on a NNN basis.Applying a typical deduction vacancy and non-reimbursed owner expenses and capitalizing the NOI at 6%, this brief income analysis indicates a value as improved value bracketing $20,000,000,which is substantially higher than the value of the site as if vacant. Conclusion of Highest and Best Use As Improved The highest and best use of the subject property,as improved,is for continued use of the existing improvements. Conclusion of Highest and Best Use Considering our concluded land value and our brief income analysis, we conclude the highest and best use of the subject property is for continued use of the existing improvements. Central Highlands Plaza 20014a-Copyright©2020 Page 11 PScvulting BEFORE CONDITION VALUATION Appraisal Methodology There are three traditional approaches typically used to value real property value: the Cost, Sales Comparison, and Income Capitalization approaches. Cost Approach The Cost Approach is based upon the principle that a prudent purchaser would pay no more for a property than the cost to purchase a similar site and construct similar improvements without undue delay, producing a property of equal desirability and utility.This approach is particularly applicable when the improvements being appraised are relatively new or proposed, or when the improvements are so specialized that there are too few comparable sales to develop a credible Sales Comparison Approach analysis. Sales Comparison Approach In the Sales Comparison Approach, the appraiser analyzes sales and listings of similar properties, adjusting for differences to account for superior/inferior property characteristics between the subject and comparables.This method is particularly useful for valuing common commercial and residential properties when an active sales market results in sufficient comparable sales for analysis. It is a good indicator of value when the most likely buyer of the subject would be an owner-user(not an investor or developer). Income Capitalization Approach The Income Capitalization (Income)Approach is based on the principle that a prudent investor will pay no more for the property than he or she would for another investment of similar risk and cash flow characteristics.The income capitalization approach is widely used and relied upon in appraising income-producing properties, especially those for which there is an active investment sales market. Because the improvements are not impacted by the acquisition,their income potential and contribution are the same in both the before and after conditions.The contribution of the improvements, if any, is not reflected in our value conclusions. The most relevant approach to value vacant land is the Sales Comparison Approach, an analysis of the most comparable sales and listings. The Cost and Income Approaches are not relevant, as the building improvements have been excluded. Sales Comparison Approach The Sales Comparison Approach consists of an analysis of the most comparable sales and listings to provide an indication of value for the subject.The sales price or another unit of measure,such sale price/unit,sale price/sf, etc., is adjusted to account for market conditions, transactional considerations and inferior/superior property characteristics. The comparable sales most similar to the subject property and a detailed discussion of the necessary adjustments is as follows: Central Highlands Plaza 20014a-Copyright©2020 Page 12 .Soya Appraisal•Valuation•consulting COMPARABLE SALES SUMMARY AND LOCATION MAP Sale Sale Size Price Comp Address/Location Date Price (sf) $/sf Zoning 1 4325 NE Sunset Boulevard Listing $3,250,000 81,457 $39.90 CA 2 515 Industry Drive 01/04/19 $6,200,000 140,202 $44.22 TUC 3 4500 Talbot Road 05/23/18 $4,500,000 201,683 $22.31 CO 4 3123 NE Sunset Boulevard 10/13/17 $940,000 17,059 $55.10 CV 5 13120 Newcastle Commons 01/24/17 $3,500,000 94,525 $37.03 MUR Subj 4601 NE Sunset Boulevard 349,720 CA Coal Creek Acori HILL Natur#rea Seward Park 0 ueing Field Newcastik! 4© Kubot Garden 3 to• 9,0,3 It*. e9 Coa! CD r,t i. ©,,,_. Bryn Mawr-Skyway E:, i Renton CD Tukwila a Tacoma rational y Oa CD rport 5,5 SeaTac CD �3 Cascade-Fairwood Central Highlands Plaza 20014a-Copyright©2020 Page 13 EIS1!vAa COMPARABLE SALE 1 "^ram Y.R I, **JO_ • ',,,' 4 a ,, F w _of !. C r '-'1: 1 ?Id:- ` d �' „, 5.1 y .iim.. r 7_ 4tr i tii, N Y � i a If t ` Property Identification Address 4325 NE Sunset Boulevard Assessor Parcel 032305-9055 City,State,ZIP Renton,WA 98059 Transaction Details Sale Date Listing Property Rights/Terms Fee Simple Typical Sale Price $3,250,000 Excise Tax No. N/A Grantor Workman Estate Confirmation Gary Penitsch Grantee Confirmation Phone 206-799-6101 Property Description Site Size 81,457sf Shape Rectangular Street Type Commercial arterials Topography Level,at or near grade Exposure Good/commercial Zoning CA Discussion This is the current listing of a 1.87-acre parcel on the south side of NE Sunset Boulevard, between Union Avenue NE and Duvall Avenue NE in the Highlands neighborhood of Renton. The site is improved with an older single-family residence that was concluded to be of no contributory value.The adjacent property is currently in planned for a 16- unit apartment building with ground floor retail. Central Highlands Plaza 20014a-Copyright©2020 Page 14 Ng SOVA AD Vrd i.ai Valia.o Cons u'.. COMPARABLE SALE 2 R -ti9 s -fit r 41 -- +� 4 Iligr—' 7 LSD 'Y - _ _MArai F f -W a - —.N000...P";00011P- .. - . , " e \ / 4 . IA Property Identification Address 515 Industry Drive Assessor Parcel 022340-0070 City,State,ZIP Tukwila,WA 9818 Transaction Details Sale Date 01/04/2019 Property Rights/Terms Fee Simple/Typical Sale Price $6,200,000 Excise Tax No. E2969048 Grantor Myong&Young LLD Confirmation Jason Rosauer Grantee Tukwila Hotel Group Confirmation Phone 206-296-9608 Property Description Site Size 140,202sf Shape Slightly irregular Street Type Commercial arterial Topography Level,at or near grade Exposure Good/commercial Zoning TUC Discussion This is the January 2019 sale of 3.22 acres of vacant,undeveloped land in Tukwila for$6,200,000.The TUC TOD-zoned (Tukwila Urban Center Transit Oriented Development) property has all utilities available to the site and is supportive of commercial, mixed-use, multi-family,and/or office development.The site is located east of Interstate 5, south of Interstate 405, and west of the Duwamish River. The property is level and cleared with no known environmentally sensitive areas.The site was previously developed with an office building which was demolished in 2008.Subsequent to sale, onsite construction has started for the 177-room Element Hotel.The property was listed at$6,700,000.The property previously sold in July 2013 for $2,550,749. The buyer of that transaction planned a large spa for the property,which ultimately fell through. Central Highlands Plaza 20014a-Copyright©2020 Page 15 IIiSova AD Dra isal Valua:an Consulting COMPARABLE SALE 3 f„ A- , s, .„ , , ,,„„,,,,,„, ii.,_ _ ,...r. ........-. ,,,,.. ',,,,- , ,. .,,,,....._. _ . _.,!.. • - , —, - —1 r '.7, , 7 A,..,4 . ,,.. t„,,, ..i. - � » "" a '" , ' l.,, i• • : , ," - -' . i '1',‘-'' '.''.• •--- '' f - - -:,,, -..,,, #,..::.,.,::.t.. .. . ii . , . Sit".111. ,, Property Identification Address 4500 Talbot Road Assessor Parcel 312305-9094,-9067 City,State,ZIP Renton,WA 98055 Transaction Details Sale Date 06/27/2018 Property Rights/Terms Fee Simple/Typical Sale Price $4,500,000 Excise Tax No. E2933275 Grantor John C.Radovich,LLC Confirmation Nick Radovich Grantee Weatherly Renton LLC Confirmation Phone 206-267-6060 Property Description Site Size 212,573sf Shape Irregular Street Type Commercial arterial Topography Gently to mod sloping Exposure Good/commercial Zoning CO Discussion This is a 2018 purchase of two tax lots totaling 4.63 acres located on the east side of Talbot Road S. in Renton.There is a large multi-family apartment complex located to the south of the site and a medical/office complex to the north. The lot has a gradual slope to the east; the buyer and seller of the site indicated that approximately 20% of the property was of limited utility due to slopes.The site had previously been improved with a 2,110sf residence built in 1966; the onsite improvement was completely removed from the site before the sale. The site is currently under construction with a 2-building, 117-unit senior living center called Weatherly Inn.Net usable area is about 170,058sf. Central Highlands Plaza 20014a-Copyright©2020 Page 16 IISOVA Appraisal.Valuation.Consulting COMPARABLE SALE 4 • , # 4 I I,I I 1 l`t ' 41 -- \, ooio -211, N / 0 't! . ff,. gym. . lly=!:'.:5. . 1 r Property Identification Address 3123 NE Sunset Boulevard Assessor Parcel 042305-9155 City,State,ZIP Renton,WA 98056 Transaction Details Sale Date 10/13/2017 Property Rights/Terms Fee Simple/Typical Sale Price $940,000 Excise Tax No. E2895168 Grantor John/Cheri Zavaglia Confirmation Tiom Graff Grantee Kiddie Research LLC Confirmation Phone 206-441-7900 Property Description Site Size 17,059sf Shape Irregular Street Type Commercial Topography Level Exposure Good/commercial Zoning CV Discussion This is the October 2017 sale of a somewhat irregular-shaped corner lot at NE 12th Street and NE Sunset Blvd.The site is level and at-grade with all utilities available.The property was developed with an older car wash considered to be of no contributory value.The buyer plans to develop the site with a day care. Central Highlands Plaza 20014a-Copyright©2020 Page 17 COMPARABLE SALE 5 4 y l n r 4 !: v Property Identification Address 13120 Newcastle Commons Assessor Parcel 272405-9006,-9040 City,State,ZIP Newcastle,WA 98059 -9099 Transaction Details Sale Date 01/24/2017 Property Rights/Terms Fee Simple/Typical Sale Price $3,500,000 Excise Tax No. E2845658 Grantor Newcastle Joint Venture Confirmation Rick Hart Grantee Newcastle Retail Group Confirmation Phone 425-462-6985 Property Description Site Size 94,525sf Shape Irregular Street Type Commercial Topography Level Exposure Good/commercial Zoning MUR Discussion The property is located on the northeast and southeast corner of the intersection of Newcastle Commons Drive and Coal Creek Parkway SE. The property is comprised of two separate sites that were purchased together in a single transaction. Each of the sites is mostly rectangular in shape and level and had been graded at the time of the sale. Since the time of sale,both sites have been improved with multi-tenant retail buildings.These sites are part of a larger mixed-use project with other retail and multifamily.There is a protected wetland behind the property. Central Highlands Plaza 20014a-Copyright©2020 Page 18 PiSov ,. Comparable Adjustment Analysis Unadjusted,the comparables indicate a relatively wide range of value from$22/sf to$55/sf for the subject, but each sale requires consideration of adjustments to account for differences in market conditions, location and a variety of physical characteristics.The comparables are adjusted on a $/sf basis as summarized below. Market Conditions The comparables transacted between early 2017 and 2019, with escalating sale prices/rents and favorable market conditions during this time. Our research indicates some slowing of the market over the past year in some sectors,though conditions are still favorable.Comparable 2 transacted within about the past year,during similar market conditions as exist as of the date of the appraisal. No adjustment is required. Comparables 3,4, and 5 are older transactions with more significant appreciation since their older sale dates. Upward adjustments have been applied. Comparable 1 is a current listing that has no offers at this time. We've applied a downward adjustment for comparison. Location The subject and all of the comparables are located in south end King County submarkets.Comparables 1,3,and 4 are specifically located in Renton like the subject and with similar or offsetting superior/inferior influences. Comparable 2 is located in Southcenter and influenced by its proximity to Southcenter Mall and significant new development in this area(such as the Interurban Hotel)and Comparable 4 is located in an area of higher values and significant new development.We have applied downward adjustments to Comparables 2 and 4. Lot Size The comparables are all smaller than the subject property, usually resulting in higher unit prices due to a larger pool of potential buyers. With the exception of Comparable 3, varying downward adjustments have been applied. Comparable 3 is most similar in size and no adjustment has been applied. Minor differences in site size is reflected in our final correlation. Shape/Topo The subject consists of a regular, square to rectangular shape and a level to only gently sloping topography.The comparables generally have a regular shape and/or have critical mass to offset any minor irregularities.With the exception of Comparable 3,the remaining comparables are also level to only gently sloping and no adjustment is required. Comparable 3 has a moderate slope and development required additional excavation costs to fully utilize the site.An upward adjustment has been applied. Zoning The subject and the comparables have similar commercial/mixed-use zoning that allow for similar building size/densities. No adjustments are necessary. Access/Exposure The subject and all of the comparables have similar commercial access suitable for a variety of office, retail,and multifamily uses. In terms of exposure,the subject is situated at the corner of a primary commercial arterial and a high-volume 4-lane arterial that provides connectivity to moderate to densely developed residential areas, though pad sites between the subject and Sunset Boulevard NE block some visibility. Comparables 1 and 3 are Central Highlands Plaza 20014a-Copyright©2020 Page 19 !®iSOVA AD Dra isal.Valuation Consoitng inferior mid-block locations,with upward adjustments applied.Comparable 4 is also at a signalized intersection, but with no blockage of intervening parcels/buildings and generally superior exposure.A downward adjustment has been applied.Comparables 2 and 5 have similar exposure and no adjustment is necessary. A summary of the adjustments is as follows: Land Sale Adjustments Price Market N'Hood Site Shape/ Access Total Comp $isf Conditions Location Size Topo Zoning Exposure Indication 1 $39.90 Sup(-) Sim Sup(-) Sim Sim Inf(+) Sup(-) 2 $44.22 Sim Sup (-) Sup(-) Sim Sim Sim Sup(--) 3 $22.31 Inf(+) Sim Sim Inf(+) Sim Inf(+) Inf(+++) 4 $55.10 Inf(+) Sim Sup (--) Sim Sim Sup (-) Sup(--) 5 $37.03 Inf(++) Sup(-) Sup(-) Sim Sim Sim Sim All of the comparables bracket the characteristics of the subject property(except size; all are smaller) and are good indicators of value.The low end of the range is set by Comparable 3,which is the largest of the comparables but still much smaller than the subject. it is located just east of SR-167 in the southerly part of Renton, near Valley Hospital. This comparable requires upward adjustment for its older sale date, topography that required excavation of the rear portion and somewhat inferior exposure given its mid-block location.The high end of the range is an older sale of a much smaller parcel, but it has been included for analysis because it is on the same arterial and shares most of the subject's location characteristics.This comparable requires upward adjustment for time, but it is more than offset by a large downward adjustment its superior size and exposure. These comparables indicate a value for the subject above$22/sf and well below$55/sf. The remaining comparables indicate a much narrower range of value in the low to mid-$30s/sf. Comparable 1 is the current listing of much smaller site that shares the neighborhood characteristics, Sunset Boulevard NE frontage, and zoning designation. Comparable 3 is a more recent transaction of a site near Southcenter, requiring downward adjustment for its superior location and size. Comparable 5 is the oldest transaction and thus it requires a larger upward adjustment for market conditions. This adjustment is more than offset by its superior location and size. Considering each of the comparables and the adjustments necessary for comparison, we conclude a value for the subject at$33/sf. We also note the April 2020 sale of the Greater Hilands Shopping Center just west of the subject and on the north side of NE Sunset Boulevard for nearly$36/sf,which is in research/confirmation at the time of this report. The property was acquired for development of mixed-use buildings along the frontage and townhouses to the rear. The property sold with plans and permits in place. Considering adjustments necessary for comparison, most significantly the plans/permits and costs to demolish the existing improvements, this transaction further supports our value conclusion. Central Highlands Plaza 20014a-Copyright©2020 Page 20 liSOVA npnratsal a vaior..on.consumoe Impacted Site Improvements The area of acquisition contains asphalt pavement/curbing for driveways and small shrubs and groundcover landscaping such as juniper. We assume any asphalt/curbing disturbed will be replaced by the contractor at no cost to the property owner. Landscaping within the permanent easement and TCE may be removed and will be placed with inferior hydroseed.We estimate about 4,300sf of landscaping may be disturbed(including both the permanent easement and TCE areas). The contribution of the landscaping is concluded to be equal to its or a suitable alternative's replacement cost, which we've estimated based on the Marshall Valuation Service Cost Manual (Marshall's) and our experience on other projects. Using a contribution value of$5/sf and including a 15%entrepreneurial incentive,the contribution of impacted landscaping is calculated at$25,000(rounded). Conclusion of Valuation Based on our investigation and analysis of all relevant data, it is our opinion the market value of the subject site and impacted site improvements,as of June 18, 2020, is: Before Value Conclusion Site Area Size(sf) Unit Value Total Land Total 349,720 $33.00 $11,540,760 Plus:Impacted Site Improvements $25,000 Land+Impacted Site Improvements $11,565,760 ROUNDED $11,566,000 Central Highlands Plaza 20014a-Copyright©2020 Page 21 ISOVAuat;on.Consulting AFTER CONDITION ANALYSIS Description of Project and Proposed Acquisition The project includes reconstruction/resurfacing of Duvall Avenue NE, including new pavement, curb, gutter, sidewalk, streetlights, storm drainage, channelization and bike lanes from NE 7th St to Sunset Blvd NE. The purpose of the project is to enhance safety for pedestrians, bicyclists,and vehicles along this corridor. The proposed acquisition consists of about five small, sporadic areas along the easterly property boundary, a total of 832sf. The encumbered areas will contain small areas of streetlights, stormwater catch basins, vaults, and other surface improvements that will straddle the property boundary but will largely contain subsurface/aerial utilities and slopes with surface areas available for landscaping. In addition to the permanent easement, an additional adjacent strip of varying depth will be encumbered with a Temporary Construction Easement (TCE) to allow contractors access to the site while constructing street improvements within the abutting Duvall Avenue NE right-of-way and easement area for a period of 24 months.The area of acquisition is improved with asphalt/curbing at three driveway locations,several mid-size to large trees and extensive juniper and small shrub landscaping. It is our understanding the trees will not be removed;juniper groundcover may be removed and not replaced.Asphalt pavement and curbing will be replaced if removed/impacted.The TCE area will occupy 4,619sf for 24-months. Description of Subject Property in the After Condition The easterly fronting street (Duvall Avenue NE) will be reconstructed as previously described. The most significant change to the property is the encumbrance of 832sf with a utility and slope easement. Because there is no fee acquisition, the site will be the same size, shape,and general configuration in the after condition.The property will have a loss of some landscaping due the installation of utilities and construction of the project. The utility and slope easement area will be used primarily for underground/aerial utilities and 2:1 slopes to transition the grade differential between the subject and street right-of-way.Detailed project plans provided by the engineer indicate the planned use for the majority of the easement area is subsurface/aerial utilities and slopes,with most of surface area landscaped/hydroseeded. Foundations for five streetlights,a fire hydrant,and three filterra stormwater drains will extend into the easement area, resulting in some but limited surface uses. Largely, the surface of the easement area will be available for the property owner's use in the after condition, likely for landscaping as in the before condition. The easement area is entirely contained within required setbacks and will not impact the existing or likely future uses of the property. Physical characteristics of the site, such as size,shape, topography, soils, and available utilities will remain the same. Access will be about the same, with the existing driveways remaining as in the before condition and reconfigured by the project. Legal restrictions will be the same in the after condition, as no change to zoning is anticipated and no permanent easements are proposed. Central Highlands Plaza 20014a-Copyright©2020 Page 22 uSoyuation.Consulting Highest and Best Use—After Condition Because the site retains essentially the same general shape and other characteristics. We conclude the highest and best use of the property in the after condition is unchanged from the before condition and is for continued used of the existing improvements. Central Highlands Plaza 20014a-Copyright©2020 Page 23 ■SOVA Appraisal.Valuation.Consu:,.ng ACQUISITION MAP/AERIAL -- - - 1. 1 .. d # Ito g 11 jt 1 4i W. it. 3,11. ' I SI J rssRdi-WAY I ..' • w f 1 I ' I lir 4'4%1 ':' I / * OW MIiRls er, t f i a lafMK t elili r x ,~. J r`: l' i. .N - Mass. Z 4' r1 8 ' ♦': e ' i ' Ili 1 n a I t 7 A URIh/S'fE �t a.� S. . FAAA/4Al .'' i I ,` 1 t rarogan. �rAl I ' i 1 t` �( 4. 1411 _, i. . b., . 111 y w �MlFafi llM 4 . ♦ 2 1 ' ''l e 1 I: qF 1' GMYAAr i. I 1 � � i 11 l ,MM ! i P It Y Ia ,=, f , fi iFNhlllM i l lr 1 � ;� t r :I _ Jr- r.. 1 - Si , , , , , ,,., , IS .100000141i / 4 ' ..,,,, ' S.I I Central Highlands Plaza 20014a-Copyright©2020 Page 24 SOVA Appraisal.valoasion.Consulting Valuation—After Condition To value the property in the after condition, we have relied on the same comparables that were used in the before condition. Given the similar characteristics of the property in the after condition,we conclude the same unencumbered fee value of $33/sf. We note the contribution of impacted site improvements has been eliminated in the after condition. Utility and Slope Easement Contribution An easement involves a discount to the value of a property to account for the loss of property rights. In accordance with the "bundle of rights"theory of property, real property can be analyzed as a bundle of rights (or a bundle of sticks) with the fee interest representing the complete bundle.An easement under this analogy represents the loss or the taking of some of these rights or sticks in the bundle.Typically,the property is then of less value due to the owner's loss of some rights associated with fee ownership. The range of easement discounts is relatively large, with the actual discount depending on the planned use of the easement area, specific easement encumbrance (language/rights afforded the easement holder), and the property impacted by the easement. For instance, if an easement for overhead powerlines prohibits surface structures within an area of the site that could be developed with buildings per its unencumbered highest and best use, the easement may diminish at the high end of the range (chart below), or perhaps higher. But if the same powerline easement encumbers an undevelopable area, such as overlapping required building setbacks or landscaping buffers, or if accessory parking can be a developed within the easement area beneath the powerlines,a diminution at lower end of the range(or lower)may be more reflective of the actual impact.Based on a variety of published studies and our independent research,typical easement discount ranges are as follows: Easement Discount Ranges Low High Easement Type/Description End End Exclusive Surface Uses 75% 100% Joint Surface Uses 25% 75% Air Rights 25% 75% Subsurface(Utilties,Surface Restrictions) 15% 50% Subsurface(No or limited surface restrictions) 0% 15% In this case,the permanent easement consists ofa utility and slope easement along the property's Duvall Avenue NE frontage. It is sporadic and irregular in shape, encumbering a total of 832sf. Detailed project plans illustrate the planned use for the majority of the easement area is subsurface/aerial utilities and slopes, with much of surface area landscaped/hydroseeded. Foundations for five streetlights, two vaults, three filterra stormwater drains/catch basins,and a fire hydrant will extend into the easement area, resulting in some but limited surface uses. The easement language is relatively broad and allows for the repair and future replacement (including enlargement) of the utilities. In determining an appropriate easement discount, we have concluded the most likely reaction of potential market buyers to both the planned use of the easement area (assuming the project is constructed as designed)and specific easement language that may allow other or more intensive uses of the Central Highlands Plaza 20014a-Copyright©2020 Page 25 S OVA Appraisal.Valua,on.Consul,ng easement area in the future.We note the northly portion of this easement overlaps with existing PSE easements with similar limitations already existing. While this appraisal reflects only the underlying land value and impacted site improvements, we conclude the highest and best use of the property is as-improved, for continued use of the existing improvements. The easement impacts only areas of landscaping and only very small areas planned for streetlight foundations and stormwater drains will be unavailable for surface landscaping in the after condition. On an as-improved basis, there is no evidence to support or suggest improved-property valuation metrics including the market rent, vacancy, expenses, or capitalization rate will be impacted by this easement.The motivation of a market buyer to acquire this property for its income stream(and associated risks)will not be impacted and,as-improved,the easement will have no measurable impact on the remainder property. From this point-of-view, the easement will result in no diminution in value. We have also considered the easement's impact on future redevelopment. The easement is located entirely within zoning-required building setbacks and thus it will not result in any limitation on future building placements on the site. Zoning requires a 10-foot landscaping buffer for new development. Given the easement will be mostly improved with slopes and hydroseed,it will largely be available to satisfy landscaping requirements when redeveloped. Additionally, parking lots require 15sf to 35sf of additional landscaping per parking stall, which could also be satisfied by the landscaping within the easement area. We conclude future limitation resulting from the proposed easement will be minimal. Included in the easement diminution is the right to construct the planned project improvements,including more intensive,periodic uses during construction similar to the TCE as described in the following section of this report. Considering the more intensive use of the easement during construction, no impact to the current use of the property as-improved (which will likely continue for the foreseeable future),and very minimal, if any, impact on future uses,we conclude an easement discount of 25%for the proposed utility and slope easement(75%of the fee value will remain). Remainder Damages and Special Benefits We have also considered damages and special benefits to the remainder property. Minor site improvements including asphalt pavement and landscaping have been considered in our analysis. No parking loss or significant change in access is anticipated.We conclude no remainder damages resulting from the acquisition. With regard to special benefits, the project will result in increased traffic flow efficiency and modernization of the street frontage, which will allow for and promote/encourage transition of current land use patterns to denser development more consistent to current market trends. Given the historical plans for these improvements, it is likely the City would require dedication of the proposed acquisition as a development condition. But as of the date of value, no plans for redevelopment are known to be in progress. And while the frontage improvements will benefit the property,these benefits are largely general and nature and measurable special benefits are speculative at this time. We conclude no compensable/measurable special benefits at this time. Central Highlands Plaza 20014a-Copyright©2020 Page 26 111SOVA Ap CIdlsil.Valuation Consu:iing Temporary Construction Easement In order to construct the project and reconnect the subject's existing access points and to construct the new sidewalk and street lighting along the property boundary,the City will require a TCE along the easterly property boundary abutting Duvall Avenue NE. The TCE is required for a period of 24 months, though given the limited scope of work to be completed within the TCE area(driveway reconnections;limited use for general construction purposes) the cumulative physical occupation of the TCE is estimated at a maximum of only 12 months. And even during the 12-month active use time, the property owner will continue to have joint use. It is our understanding/assumption the driveways will not be blocked for any significant period of time and blocked only when asphalt/concrete is curing;the driveways will not be blocked at the same time. A TCE is essentially a short-term land lease. Land lease valuation typically involves applying an annualized rate- of-return to the underlying land value to calculate market rent. Like other investments, the rate-of-return is largely based on the risk associated with the lease. Long-term leases and high quality, credit tenants represent lower risk to the underlying landowner and typically have lower rates. Short-term leases of vacant or interim- use property sometimes have a low rate-of-return, as any income to offset holding costs would be beneficial. Shorter-term leases and higher risk tenants usually have the higher rates-of-return. In order to determine an appropriate rate-of-return for the subject, we considered a number of long and short-term ground lease comparables,surveyed agencies who typically lease property, and researched published data such as the Price Waterhouse Cooper (PwC), formerly Korpacz, survey. The PwC is a national real estate investor survey, which cites capitalization and rates-of-return for a variety of property types.While this information is national, it is still a good indicator of regional performance given the investor-grade characteristics of the Seattle MSA. Local agencies that lease their portfolio (such as the Port of Seattle) indicate a range of about 6%to 10%depending upon the length and complexity of the lease and degree of property/operational impact. Our review of specific ground leases indicate a range from about 5% to 10% with long term national retailers, such as fast food restaurants, and public agencies at the lower end of the range; and localized specialty users required to pay higher rates-of-return, as would be expected. PwC indicates an appropriate rate-of-return for a variety of property types in the range of 6% to 12%. We note these stated ranges generally reflect exclusive or near- exclusive use(occupancy)of the property for the lease term. In valuing short-term uses, the total easement size, duration, location onsite/impact and disruption to current use and the intensity of the intended use(exclusive vs non-exclusive)must be considered.In this case,the active period is estimated at only about 12 months within a 24-month window, though some risk of a longer use is inherent and not guaranteed by the TCE document language to our knowledge.Given the TCEs proposed for the subject impact driveway areas to a retail center,the active use period (estimated at about 12 months) may be disruptive,but the anticipated non-construction portion of the TCE(estimated at about 12 months)will have no functional impact on the subject. Nonetheless,the TCE will result in a title encumbrance for the entire 24-month period.Considering the anticipated use of the TCE and its impact on the subject,as well as our knowledge of the market reaction to sales of properties with similar TCEs at the time of sale or lease,we conclude a market rent for the joint-use of the TCE area at 6%/year for the 2-year period. Applying this discount to the previously concluded land value of$33/sf and a TCE area of 4,619sf, compensation for the TCE is calculated at$19,000 (rounded). Central Highlands Plaza 20014a-Copyright©2020 Page 27 ESOVA Appraisal•Valuation.Consulting Conclusion of Valuation Based on our investigation and analysis of all relevant data, it is our opinion the market value of the subject site in the after condition,as of June 18, 2020, is: After Value Conclusion Site Area Size(sf) Unit Value Total Unencumbered Land Value 348,888 $33.00 $11,513,304 Easement Encumberd Value 832 $24.75 $20,592 After Condition Value $11,533,896 Less:TCE Encumbrance -$19,000 Total $11,514,896 ROUNDED $11,515,000 Central Highlands Plaza 20014a-Copyright©2020 Page 28 SOVA ADDratsal.Valuat.on.Consult,ng BEFORE AND AFTER VALUE CONCLUSION Based on our research and analysis, it is our opinion the market value of the subject property, before and after the proposed acquisition,as of June 18, 2020, is: Value Conclusions&Allocations Site Area Total Before Condition $11,566,000 After Condition $11,515,000 Just Compensation/Diminution $51,000 Easement Acqusition(Rounded) $7,000 Temporary Construction Easement $19,000 Impacted Site Improvements $25,000 ROUNDED $51,000 Central Highlands Plaza 20014a-Copyright©2020 Page 29 iiSova CERTIFICATION I certify that,to the best of my knowledge and belief: 1. The statements of fact contained in this report are true and correct. 2. The reported analyses,opinions, and conclusions are limited only by the reported assumptions and limiting conditions and are my personal,impartial,and unbiased professional analyses,opinions,and conclusions. 3. I have no present or prospective interest in the property that is the subject of this report and no personal interest with respect to the parties involved. 4. I have performed no other real estate services, as an appraiser or in any other capacity, regarding the property that is the subject of this report within the three-year period immediately preceding acceptance of this assignment. 5. I have no bias with respect to the property that is the subject of this report or to the parties involved with this assignment. 6. My engagement in this assignment was not contingent upon developing or reporting predetermined results. 7. My compensation for completing this assignment is not contingent upon the development or reporting of a predetermined value or direction in value that favors the cause of the client,the amount of value opinion, the attainment of a stipulated result,or the occurrence of a subsequent event directly related to the intended use of this appraisal. 8. My analyses, opinions and conclusions were developed, and this report has been prepared, in conformity with the Uniform Standards of Professional Appraisal Practice. 9. I have made a personal inspection of the property that is the subject of this report.(If more than one person signs this certification, the certification must clearly specify which individuals did and which individuals did not make a personal inspection of the appraised property.) 10. No one provided significant real property appraisal assistance to the person signing this certification,unless otherwise noted. 11. The reported analyses, opinions and conclusions were developed, and this report has been prepared, in conformity with the requirements of the Code of Professional Ethics and Standards of Professional Appraisal Practice of the Appraisal Institute. 12. The use of this report is subject to the requirements of the Appraisal Institute relating to review by its duly authorized representatives. 13. As of the date of this report, I have completed the continuing education program for Designated Members of the Appraisal Institute. Date of Value: June 18,2020 Matthew C.Sloan,MAI,SRA State Cert.#27011-1101655 Central Highlands Plaza 20014a-Copyright©2020 Page 30 uIaovt .consuinn, REPORT OF CONTACT WITH PROPERTY OWNER Person(s)Contacted: Dayna Desmond Owner Address: 101 Lakespur Landing Circle, Suite 120 Lakespur,CA 94939 Phone: 415-945-2473 Email: ddesmond@argoinvest.com Date of Contact: Multiple,calls and emails, February 2020 Date of Joint Inspection: None Persons Accompanying Appraisers: N/A Relationship to Owner: Ms. Desmond is the Asset Manager for Argonaut Investments, LLC,the ownership entity. Central Highlands Plaza 20014a-Copyright©2020 Page 31 ■SOVA Appraisal.valuation•Consulting ,. ADDENDA Title Report Proposed Easements Qualifications Central Highlands Plaza 20014a-Copyright©2020 uSOVA isal Valoa:on.Cons ultne TITLE REPORT Central Highlands Plaza 20014a-Copyright©2020 SUBDIVISION Guarantee/Certificate Number: Issued By: cobil 'CHICAGO TITLE 194834-TC INg.IRANCE COMPANY CHICAGO TITLE INSURANCE COMPANY a corporation, herein called the Company GUARANTEES Parametrix herein called the Assured, against actual loss not exceeding the liability amount stated in Schedule A which the Assured shall sustain by reason of any incorrectness in the assurances set forth in Schedule A. LIABILITY EXCLUSIONS AND LIMITATIONS ,. 1. No guarantee is given nor liability assumed with respect to the identity of any party named or referred to in Schedule A or with respect to the validity, legal effect or priority of any matter shown therein. 2. The Company's liability hereunder shall be limited to the amount of actual loss sustained by the Assured because of reliance upon the assurance herein set forth, but in no event shall the Company's liability exceed the liability amount set forth in Schedule A. Please note carefully the liability exclusions and limitations and the specific assurances afforded by this guarantee. If you wish additional liability, or assurances other than as contained herein, please contact the Company for further information as to the availability and cost. Chicago Title Insurance Company By: • Chicago Title Company of Washington 4. 1142 Broadway,Suite 200 Tacoma,WA 98402 President ��Nsugq,� Countersigned By: �� Attest: ,_....4......,\4s,tr., ,,,,.aø Authorized Officer or Agent „v.•. Secretary Subdivision Guarantee/Certificate Printed: 12.02.19 @ 02:17 PM Page 1 WA-CT-FBCM-02150.620753-SPS-1-19-194834-TC CHICAGO TITLE INSURANCE COMPANY GUARANTEE/CERTIFICATE NO. 194834-TC ISSUING OFFICE: • Title Officer: Rob Hainey Chicago Title Company of Washington 1142 Broadway, Suite 200 • Tacoma,WA 98402 Fax: 866-671-3908 Main Phone: (253)671-6623 Email: Rob.Hainey©ctt.com SCHEDULE A Liability Premium Tax $1,000.00 $350.00 $35.70 Effective Date: November 22, 2019 at 12:00 AM The assurances referred to on the face page are: That, according to those public records which, under the recording laws, impart constructive notice of matter relative to the following described property: SEE EXHIBIT"A"ATTACHED HERETO AND MADE A PART HEREOF Title to said real property is vested in: Argo Renton, LLC, a Delaware limited liability company subject to the matters shown below under Exceptions, which Exceptions are not necessarily shown in the order of their priority. END OF SCHEDULE A Subdivision Guarantee/Certificate Printed: 12.02.19 @ 02:17 PM Page 2 WA-CT-FBCM-02150.620753-SPS-1-19-194834-TC EXHIBIT "A" Legal Description Lot 5, Central Highlands Plaza, a Binding Site Plan, according to the plat theroef, recorded in Volume 141 of Plats, pages 59 and 60, and Amended in Volume 176 of Plats, pages 76 and 77, in King County, Washington. Subdivision Guarantee/Certificate Printed: 12.02.19 @ 02:17 PM Page 3 WA-CT-FBCM-02150.620753-SPS-1-19-194834-TC CHICAGO TITLE INSURANCE COMPANY GUARANTEE/CERTIFICATE NO. 194834-TC SCHEDULE B H. Reservations and exceptions in United States Patents or in Acts authorizing the issuance thereof. SPECIAL EXCEPTIONS 1. Covenants, conditions, restrictions, recitals, reservations, easements, easement provisions, dedications, building setback lines, notes, statements, and other matters, if any, but omitting any covenants or restrictions, if any, including but not limited to those based upon race, color, religion, sex, sexual orientation,familial status, marital status, disability, handicap, national origin, ancestry, or source of income, as set forth in applicable state or federal laws, except to the extent that said covenant or restriction is permitted by applicable law, as set forth on Joseph P. Marshall Tracts: Recording No: 3250442 2. Easement(s)for the purpose(s) shown below and rights incidental thereto, as granted in a document: Granted to: May Creek Flood Zone District, a created municipal corporation Purpose: Drainage channel and/or other flood control works Recording Date: October 20, 1965 Recording No.: 5943056 Affects: A portion of said premises 3. Easement(s)for the purpose(s) shown below and rights incidental thereto, as granted in a document: Granted to: May Creek Flood Control Zone District a created municipal corporation Purpose: Drainage channel and/or other flood control works Recording Date: October 20, 1965 Recording No.: 5943057 Affects: A portion of said premises 4. Covenants, conditions, restrictions and easements but omitting any covenants or restrictions, if any, including but not limited to those based upon race, color, religion, sex, sexual orientation,familial status, marital status, disability, handicap, national origin, ancestry, source of income, gender, gender identity, gender expression, medical condition or genetic information, as set forth in applicable state or federal laws, except to the extent that said covenant or restriction is permitted by applicable law, as set forth in the document Recording Date: August 19, 1977 Recording No.: 7708190846 5. Declaration of Easements and the terms and provisions thereof Recording Date: September 21, 1977 Recording No.: 7709210680 Said Declaration of Easements has been modified by instrument(s) recorded under Recording No. 8104290507 and Recording No. 9604300819. Subdivision Guarantee/Certificate Printed: 12.02.19 @ 02:18 PM Page 4 WA-CT-FBCM-02150.620753-SPS-1-19-194834-TC CHICAGO TITLE INSURANCE COMPANY GUARANTEE/CERTIFICATE NO. 194834-TC SCHEDULE B (continued) 6. Easement(s)for the purpose(s)shown below and rights incidental thereto, as granted in a document: Granted to: City of Renton, a municipal corporation Purpose: Storm sewer with necessary appurtenances Recording Date: November 16, 1977 Recording No.: 7711160658 Affects: A portion of said premises 7. Easement(s)for the purpose(s) shown below and rights incidental thereto, as granted in a document: Granted to: City of Renton, a municipal corporation Purpose: Water line with necessary appurtenances Recording Date: November 16, 1977 Recording No.: 7711160659 Affects: A portion of said premises • 8. Easement(s)for the purpose(s) shown below and rights incidental thereto, as granted in a document: Granted to: Puget Sound Power& Light Company Purpose: Electric transmission and/or distribution system Recording Date: July 3, 1978 Recording No.: 7807030820 Affects: A portion of said premises 9. Easement(s)for the purpose(s) shown below and rights incidental thereto, as granted in a document: Granted to: Puget Sound Power& Light Company Purpose; Electric transmission and/or distribution system Recording Date: March 6, 1979 Recording No.: 7903060809 Affects: A portion of said premises 10. Covenants, conditions, restrictions, recitals, reservations, easements, easement provisions, dedications, building setback lines, notes, statements, and other matters, if any, but omitting any covenants or restrictions, if any, including but not limited to those based upon race, color, religion, sex, sexual orientation,familial status, marital status, disability, handicap, national origin, ancestry, or source of income, as set forth in applicable state or federal laws, except to the extent that said covenant or restriction is permitted by applicable law, as set forth on Central Plaza Short Plat 1: Recording No: 8002269014 • 11. Ordinance No.4025, and the terms and provisions thereof: Recording Date: December 3, 1986 Recording No.: 8612031455 Subdivision Guarantee/Certificate Printed: 12.02.19 @ 02:18 PM Page 5 WA-CT-FBCM-02150.620753-SPS-1-19-194834-TC CHICAGO TITLE INSURANCE COMPANY GUARANTEE/CERTIFICATE NO. 194834-TC SCHEDULE B (continued) 12. Covenants, conditions, restrictions, recitals, reservations, easements, easement provisions, dedications, building setback lines, notes, statements, and other matters, if any, but omitting any covenants or restrictions, if any, including but not limited to those based upon race, color, religion, sex, sexual orientation,familial status, marital status, disability, handicap, national origin, ancestry, or source of income, as set forth in applicable state or federal laws, except to the extent that said covenant or restriction is permitted by applicable law, as set forth on Central Highlands Plaza, a Binding Site Plan, File No. BSP. 091-87: Recording No: 8805200326 An amendement to the Binding Site Plan, recorded April 29,1996, under recording number 9604290131. 13. Administrative Site Plan Review City of Redmond Report and Decision on Amendment to Binding Site Plan and the terms and provisions thereof: Recording Date: May 8, 1996 Recording No.: 9605081004 14. Easement(s)for the purpose(s) shown below and rights incidental thereto, as granted in a document: Granted to: Puget Sound Energy, Inc. Purpose: Transmission, distribution and sale of gas Recording Date: October 6, 2011 Recording No.: 20111006000430 Affects: A portion of said premises 15. General and special taxes and charges, payable February 15, delinquent if first half unpaid on May 1, second half delinquent if unpaid on November 1 of the tax year(amounts do not include interest and penalties): Year: 2019 Tax Account No.: 149450-0050 Levy Code: 2100 Assessed Value-Land: $4,476,800.00 Assessed Value-Improvements: $0.00 General and Special Taxes: Billed: $47,930.09 Paid: $47,930.09 Unpaid: $0.00 16. A Deed of Trust and Assignment of Rents and/or Leases Amount: $6,550,000.00 Dated: October 24, 2013 Trustor/Grantor:Argo Renton, LLC, a Delaware limited liability company Trustee: First American Title Insurance Company Beneficiary: The Bancorp Bank Recording Date:October 24, 2013 • Recording No: 20131024001185 Affects: Lot 5 and other property Subdivision Guarantee/Certificate Printed: 12.02.19 @ 02:18 PM Page 6 WA-CT-FBCM-02150.620753-SPS-1-19-194834-TC CHICAGO TITLE INSURANCE COMPANY GUARANTEE/CERTIFICATE NO. 194834-TC • SCHEDULE B (continued) An assignment of the beneficial interest under said deed of trust which names: Assignee: U. S. Bank National Association, as Trustee on behalf of the Registered Holders of Citigroup Commercial Mortgage Securities Inc., Commercial Mortgage Pass-Through Certificates Series 2013-GC17 Recording Date: January 17, 2014 Recording No.: 20140117000693 17. Assignment of Rents and Leases Assigned to: The Bancorp Bank Assigned by: Argo Renton, LLC, a Delaware limited liability company Recording Date:October 24, 2013 Recording No.: 20131024001186 • Affects: Lot 5 and other property An assignment of assignment of rents and leases which names: Assignee: U. S. Bank National Association, as Trustee on behalf of the Registered Holders of Citigroup Commercial Mortgage Securities Inc., Commercial Mortgage Pass-Through Certificates Series 2013-GC17 Recording Date: January 17, 2014 Recording No.: 20140117000694 18. A financing statement as follows: Debtor: Argo Renton, LLC Secured Party: The Bancorp Bank Recording Date:October 24, 2013 Recording No.: 20131024001187 Affects: Lot 5 and other property 19. A change to the above financing statement was filed Nature of Change: Assignment Assigned To: U. S. Bank National Association, as Trustee on behalf of the Registered Holders of Citigroup Commercial Mortgage Securities Inc., Commercial Mortgage Pass-Through Certificates Series 2013-GC17 Recording Date: January 17, 2014 Recording No.: 20140117000695 20. A change to the above financing statement was filed: Nature of Change: Continuation Recording Date: May 9, 2018 Recording No.: 20180509000046 Subdivision Guarantee/Certificate Printed: 12.02.19 @ 02:18 PM Page 7 WA-CT-FBCM-02150.620753-SPS-1-19-194834-TC CHICAGO TITLE INSURANCE COMPANY GUARANTEE/CERTIFICATE NO. 194834-TC SCHEDULE B (continued) Note 1: FOR INFORMATIONAL PURPOSES ONLY: The following may be used as an abbreviated legal description on the documents to be recorded, per Amended RCW 65.04.045. Said abbreviated legal description is not a substitute for a complete legal description within the body of the document: Lot 5, Central Highlands Plaza(Amended), Vol 176, Pages 76-77, King Co Tax Account No.: 149450-0050 Note 2: Any map furnished with this Guarantee is for convenience in locating the land indicated herein with reference to streets and other land. No liability is assumed by reason of reliance thereon. Note 3: The legal description in this Guarantee is based on information provided with the application and the Public Records. All parties must notify the Title Insurance Company if the description does not conform to their expectations. END OF SCHEDULE B Subdivision Guarantee/Certificate Printed: 12.02.19 @ 02:18 PM Page 8 WA-CT-FBCM-02150.620753-SPS-1-19-194834-TC ESOVA Appraisal.Valuation.Consulting PROPOSED EASEMENTS • e. Central Highlands Plaza 20014a-Copyright©2020 After recording return document to: City of Renton City Clerk's Office 1055 South Grady Way Renton,WA 98057 PLEASE MAKE NO MARK IN THE MARGIN SPACE-RESERVED FOR COUNTY RECORDER'S USE Grantor(s): Argo Renton,LLC Grantee(s): City of Renton Legal Description:Lot 5,Central Highlands Plaza BSP(176/76) Assessor's Tax Parcel Number: 149450-0050-09 Reference Number of Related Documents: N/A UTILITY EASEMENT Duvall Avenue NE Project The Grantor(s), Argo Renton, LLC, for and in consideration of $10.00 and other valuable consideration,receipt of which is hereby acknowledged,does hereby grant and convey unto the City of Renton, a municipal corporation, and its successors and assigns(the Grantee), from the property legally described on Exhibit "A" —Entire Parcel (the "Property"), attached hereto and incorporated by this reference, a permanent utility easement, for the purposes described below, over, in, on, along, across, through, below and upon, the portion of the Property legally described on Exhibit "B", (the "Utility Easement") and depicted on Exhibit "C", which are attached hereto and incorporated by this reference. The Grantee and its agents, designees and/or assigns, shall have the right at such times as deemed necessary by Grantee,to enter upon, over, under and across the Utility Easement to inspect, construct, reconstruct, grade and slope, operate, use, maintain, repair, replace and enlarge the utilities contained within the easement area for all public purposes, including but not limited to,grade and slope,street lights,utilities(including without limitation water, sewer, storm water,electric,gas,telecommunications,cable and fiber optics, either owned or operated by Grantee or those utilities which provide service to Grantee or its citizens and are operated by permission of Grantee through franchise or permit), together with the right of ingress and egress thereto without prior institution of any suit or proceedings and without incurring any legal obligation or liability therefore. Parcel No. 149450-0050-09 Page 1 of(9)Pages PLEASE MAKE NO MARK IN THE MARGIN SPACE-RESERVED FOR COUNTY RECORDER'S USE ONLY. UTILITY EASEMENT THIS EASEMENT is executed and delivered and said easement is granted upon the following conditions to wit: 1. Grantee, its agents and employees, assigns and successors shall, as soon as practicable, after installation of the utilities and all subsequent alterations and repairs thereto, restore all property to the Grantor to a neat and presentable condition. 2. Grantor shall not interfere in any manner with the easement rights granted to Grantee and the public in this Utility Easement. Without limitation, Grantor shall not (1) erect or maintain any buildings, structures, or improvements within the Utility Easement; (2) disturb the lateral or subjacent support of the utilities and other improvements and uses of the Utility Easement by Grantee, or undertake any form of construction or other activity that may disturb or damage the utilities, or other improvements or uses of the Utility Easement by Grantee; or (3)plant trees, shrubs, or other vegetation having deep root patterns that may cause damage to or interfere with the use of the utilities. 3. The rights granted herein shall not be construed to interfere with or restrict the Grantor, its heirs, executors, administrators, successors and assigns from the use of the Property outside of the Easement Area for the construction and maintenance of property improvements outside of the Easement Area. 4. This Utility Easement and the rights, obligations and covenants stated in this Utility Easement shall run with the land and shall be binding upon and shall inure to the benefit of the Grantor and Grantee. This Utility Easement shall be recorded with the King County Recorder's Office. 5. It is understood and agreed that delivery of this Utility Easement is hereby tendered and that the terms and obligations hereof shall not become binding upon City of Renton unless and until approved hereon in writing by City of Renton. Parcel No. 149450-0050-09 Page 2 of(9)Pages PLEASE MAKE NO MARK IN THE MARGIN SPACE-RESERVED FOR COUNTY RECORDER'S USE ONLY. PLEASE MAKE NO MARK IN THE MARGIN SPACE-RESERVED FOR COUNTY RECORDER'S USE ONLY. UTILITY EASEMENT Dated: , 20 • Grantor: By Its Accepted and Approved City of Renton By Its Date Parcel No. 149450-0050-09 Page 3 of(9)Pages PLEASE MAKE NO MARK IN THE MARGIN SPACE-RESERVED FOR COUNTY RECORDER'S USE ONLY. PLEASE MAKE NO MARK IN THE MARGIN SPACE-RESERVED FOR COUNTY RECORDER'S USE ONLY. UTILITY EASEMENT CORPORATE ACKNOWLEDGMENT STATE OF ss. COUNTY OF I certify that I know or have satisfactory evidence that is the person who appeared before me,and said person acknowledged that they signed this instrument,on oath stated that they were authorized to execute the instrument and acknowledged it as the of , to be their free and voluntary act of such party for the uses and purposes mentioned in the instrument. DATED this day of ,20 (SEAL) Notary Public Printed Name Residing at My appointment expires INDIVIDUAL ACKNOWLEDGMENT STATE OF ss. COUNTY OF On this day personally appeared before me ,to me known to be the individual(s)described in and who executed the within and foregoing instrument,and acknowledged that he/she/they signed the same as his/her/their free and voluntary act and deed, for the uses and purposes therein mentioned. DATED this day of ,20 (SEAL) Notary Public Printed Name Residing at My appointment expires Parcel No. 149450-0050-09 Page 4 of(9)Pages PLEASE MAKE NO MARK IN THE MARGIN SPACE-RESERVED FOR COUNTY RECORDER'S USE ONLY. PLEASE MAKE NO MARK IN THE MARGIN SPACE-RESERVED FOR COUNTY RECORDER'S USE ONLY. UTILITY EASEMENT EXHIBIT "A" ENTIRE PARCEL EXHIBIT A FOR UTILITY EASEMENT SW 1/4 OF SEC. 03,T. 23 N., R. 05 E.,W.M. CITY OF RENTON, KING COUNTY, WA LOT 5 OF CENTRAL HIGHLANDS PLAZA, PER AMENDED BINDING SITE PLAN RECORDED UNDER VOLUME, 176; PAGES 76-77, KING COUNTY RECORDS OF KING COUNTY, WASHINGTON. dN `h �ffff -0, 46889 x° ASS�NALS LAN�SJ� , b-6-20zo • Parcel No. 149450-0050-09 Page 5 of(9)Pages PLEASE MAKE NO MARK IN THE MARGIN SPACE-RESERVED FOR COUNTY RECORDER'S USE ONLY. PLEASE MAKE NO MARK IN THE MARGIN SPACE-RESERVED FOR COUNTY RECORDER'S USE ONLY. UTILITY EASEMENT EXHIBIT "B" EASEMENT LEGAL DESCRIPTION EXHIBIT B FOR UTILITY EASEMENT SW 114 OF SEC. 03,T. 23 N., R. 05 E.,W.M. CITY OF RENTON, KING COUNTY,WA A PORTION OF LOT 5 OF CENTRAL HIGHLANDS PLAZA, PER AMENDED BINDING SITE PLAN RECORDED UNDER VOLUME 176, PAGES 76-77, KING COUNTY RECORDS, SAID PORTION BEING MORE PARTICULARLY DESCRIBED AS FOLLOWS: COMMENCING AT THE SOUTHEAST CORNER OF SAID LOT 5, ALSO BEING THE WESTERLY MARGIN OF DUVALL AVENUE NORTHEAST; THENCE NORTH 01'19'44" EAST 16.37 FEET ALONG SAID WESTERLY MARGIN TO THE TRUE POINT OF BEGINNING;THENCE NORTH 88'40'16" WEST 5.00 FEET; THENCE NORTH 01'19'44" EAST 17.00 FEET; THENCE SOUTH 88'40'16" EAST 5.00 FEET TO SAID WESTERLY MARGIN; THENCE SOUTH O1'19'44" WEST 17.00 FEET ALONG SAID WESTERLY MARGIN TO THE TRUE POINT OF BEGINNING; TOGETHER WITH A PORTION OF SAID LOT 5 BEING MORE PARTICULARLY DESCRIBED AS FOLLOWS: COMMENCING AT THE SOUTHEAST CORNER OF SAID LOT 5, ALSO BEING SAID WESTERLY MARGIN; THENCE NORTH O1'19'44" EAST 86.27 FEET ALONG SAID WESTERLY MARGIN TO THE TRUE POINT OF BEGINNING; THENCE NORTH. 88'40'16" WEST 3.00 FEET; THENCE NORTH 01'19'44" EAST 16.27 FEET; THENCE NORTH 88'40'16" WEST 2.00 FEET; THENCE NORTH 0119'44" EAST 15.00 FEET; THENCE SOUTH 88'40'16" EAST 5.00 FEET TO SAID WESTERLY MARGIN; THENCE SOUTH 01'19'44" WEST 31.27 FEET ALONG SAID WESTERLY MARGIN TO THE TRUE POINT OF BEGINNING; TOGETHER WITH A PORTION OF SAID LOT 5 BEING MORE PARTICULARLY DESCRIBED AS FOLLOWS: COMMENCING AT THE SOUTHEAST CORNER OF SAID LOT 5, ALSO BEING SAID WESTERLY MARGIN; THENCE NORTH 01'19'44" EAST 194.02 FEET ALONG SAID WESTERLY MARGIN TO THE TRUE POINT OF BEGINNING; THENCE NORTH 88'40'16" WEST 3.00 FEET; THENCE NORTH 01'19'44" EAST 1.7.00 FEET; THENCE SOUTH 88'40'16" EAST 200. FEET; THENCE NORTH 01'19'44' EAST 41.43 FEET; THENCE SOUTH 88'40'16" EAST 1.00 FEET TO SAID WESTERLY MARGIN; THENCE SOUTH 01'19'44" WEST 58.43 FEET ALONG SAID WESTERLY MARGIN.TO THE TRUE POINT OF BEGINNING; TOGETHER WITH A PORTION OF SAID LOT 5 BEING MORE PARTICULARLY DESCRIBED AS FOLLOWS: COMMENCING AT THE NORTHEAST CORNER OF SAID LOT 5 ALSO BEING SAID WESTERLY MARGIN; THENCE SOUTH 04'46'55" WEST'157.93 FEET ALONG SAID WESTERLY MARGIN TO A POINT ON A TANGENT CURVE TO THE LEFT, WITH A RADIUS OF 1642.00 FEET; Parcel No. 149450-0050-09 Page 6 of(9)Pages PLEASE MAKE NO MARK IN THE MARGIN SPACE-RESERVED FOR COUNTY RECORDER'S USE ONLY. PLEASE MAKE NO MARK IN THE MARGIN SPACE-RESERVED FOR COUNTY RECORDER'S USE ONLY. UTILITY EASEMENT EXHIBIT "B" EASEMENT LEGAL DESCRIPTION EXHIBIT B CON'T FOR UTILITY EASEMENT SW 1/4 OF SEC. 03, T. 23 N., R. 05 E.,W.M. CITY OF RENTON, KING COUNTY, WA THENCE SOUTHERLY ALONG SAID CURVE THROUGH A CENTRAL ANGLE OF 01'19'53", AN ARC LENGTH OF 38.16 FEET ALONG SAID WESTERLY MARGIN TO THE TRUE POINT OF BEGINNING; THENCE CONTINUING ON SAID CURVE TO THE LEFT WITH A RADIUS OF 1642,00 FEET, THROUGH A CENTRAL ANGLE OF 02'17'18", AN ARC LENGTH OF 65,58 FEET ALONG SAID WESTERLY MARGIN; THENCE SOUTH 01'19'44" WEST 34.48 FEET ALONG SAID WESTERLY MARGIN; THENCE NORTH 88'40'16" WEST 5.00 FEET; THENCE NORTH 01'20'08" EAST 40.00 FEET; THENCE SOUTH 88'40'16" EAST 3.00 FEET TO A POINT ON A NON—TANGENT CURVE TO THE RIGHT WITH A RADIUS OF 1644.00 FEET, THE CENTER OF WHICH BEARS SOUTH 88'28'44" EAST; THENCE NORTHERLY ALONG SAID CURVE THROUGH A CENTRAL ANGLE OF 2'05'46", AN ARC LENGTH OF 60.14 FEET; THENCE SOUTH 88'22'58" EAST 2.00 FEET TO SAID WESTERLY MARGIN AND THE TRUE POINT OF BEGINNING; TOGETHER WITH A PORTION OF SAID LOT 5 BEING MORE PARTICULARLY DESCRIBED AS FOLLOWS: COMMENCING AT THE NORTHEAST CORNER OF SAID LOT 5 ALSO BEING SAID WESTERLY MARGIN; THENCE SOUTH 04'46'55" WEST 40.47 FEET ALONG SAID WESTERLY MARGIN TO THE TRUE POINT OF BEGINNING; THENCE CONTINUING SOUTHERLY ALONG SAID WESTERLY MARGIN SOUTH 04'56'55" WEST 113.39 FEET; THENCE NORTH 85'03'O6" WEST 3.00 FEET; THENCE NORTH 04'56'55" EAST 9.39 FEET; THENCE SOUTH 85'03'05" EAST 2.00 FEET; THENCE NORTH 04'56'55" EAST 32.98 FEET; THENCE NORTH 85'03'05" WEST 4.00 FEET; THENCE NORTH 04'56'55" EAST 15.00 FEET; THENCE SOUTH 85'03'05" EAST 4.00 FEET; THENCE NORTH 04'56'55" EAST 47.02 FEET; THENCE NORTH 85'03'05" WEST 2.00 FEET; THENCE NORTH 85'03'05" EAST 9.00 FEET; THENCE SOUTH 04'56'55" EAST 3.00 FEET TO SAID WESTERLY MARGIN AND THE TRUE POINT OF BEGINNING. CONTAINING 832 SQUARE FEET, MORE OR LESS. 4 -, oae8 , j ` y �, I r E . Pam 46889 <.9 Fss/NA LST SJ�, 6-rs=ozo Parcel No. 149450-0050-09 Page 7 of(9)Pages PLEASE MAKE NO MARK IN THE MARGIN SPACE-RESERVED FOR COUNTY RECORDER'S USE ONLY. PLEASE MAKE NO MARK IN THE MARGIN SPACE-RESERVED FOR COUNTY RECORDER'S USE ONLY. UTILITY EASEMENT EXHIBIT "C" GRAPHIC DEPICTION EXHIBIT C FOR UTILITY EASEMENT SW 1/4 OF SEC. 03, T. 23 N., R. 05 E.,W.M. CITY OF RENTON, KING COUNTY, WA — — -- ' - — — P.O.C. . all L33 SO4'5 L32 T.P.O.B. N10a L30 �1 1"=100' l28 Parametrix L28 1 122 127 I( APN 1494500050 ) L26 L25 J ARGO RENTON LLC L24 L23 ' + t 4601 NE SUNSET BLVD 98059 L21 T.P.O.B. LOT 5 C2 LLI CENTRAL HIGHLANDS PLAZA 8S(R' C1 Z (RAJDIALL)) AMENDED BSP VOL 176, PGS 76-77 L20 w> us Q L17 J Lib j I --------�----------L14 L161 I CI 1 L13 , iL12 T.P.O.B. I Ltt i , 1 I Ll I Ls 1 I ' LB L10 ' ,. L7 T.P.O.B. LOT 5 ,I___ — - %� I T.P.O.B. ( APN 1494500050 ) -—-- - 14 Not is 44•E _ ___ 16.37' TOTAL AREA I �� ;P.O.C. LEGEND 832 SQ. FT. P.O.C. Point OF COMMENCEMENT tc,� 1,ea eE' / T.P.O.B. TRUE POINT OF BEGINNING �Q��'5' �cF 4'4? r a PERMANENT EASEMENT AREA T ,(i" I PROPOSED PERMANENT EASEMENT LINE '- %r!y i, — — EXISTING RIGHT OF WAY LINE : -e 'i zr 5 ', 3 46889 O ,-& —- - -— CENTERLINE r `cSo/eC/S I SR�s�§- — ---------- PROPERTY LINE °Nat. LAND S ( APN XXXXXXXXXXX ) KING COUNTY TAX PARCEL NUMBER b_1S-,� �T 7-4 Parcel No. 149450-0050-09 Page 8 of(9)Pages PLEASE MAKE NO MARK IN THE MARGIN SPACE-RESERVED FOR COUNTY RECORDER'S USE ONLY. PLEASE MAKE NO MARK IN THE MARGIN SPACE-RESERVED FOR COUNTY RECORDER'S USE ONLY. UTILITY EASEMENT EXHIBIT "C" GRAPHIC DEPICTION EXHIBIT C CON'T FOR UTILITY EASEMENT SW 1/4 OF SEC. 03, T. 23 N., R. 05 E., W.M. CITY OF RENTON, KING COUNTY, WA Line Table Line Table Line Table Line# Length Direction Line# Length Direction Line# Length Direction Lt 5.00 N88'40'16 W L12 17.00 N01'19'441 L23 3.00 N85'03'05'41 L2 17.00 N01'19'441 L13 2.00 S88'40161 L24 9.39 N0456'55E L3 5.00 S88'40'161 114 41.43 N01'19'441 L25 2.00 S85'03'05E L4 17.00 S01'.19'44'W 115 1.00 S88'40'161 L26 32.98 N0456'551 L5 3.00 N88'40'16'W L16 58.43 S01'19'44'W L27 4.00 N85'03'051Y L6 16.27 N01'19'44 E L17 34.48 501'19'44'W L28 15.00 N0456'55E L7 2.00 N88'40'161Y L18 5.00 N88'40'16'W L29 4.00 S85'03'051 L8 15.00 N01'19'44E L19 40.00 N01'201181 L30 47.02 N04'56'55E L9 5.00 S88'40'161 L20 3.00 S88'40'161 L31 2.00 N85'03'05111 L10 31.27 S01'19'44 W L21 2.00 S86'22'581 L32 9.00 N0456'551 L11 3.00 N8810'16111 L22 113.39 SO4'56'55'W L33 3.00 S85'03'05E Curve Table Curve# Length Radius Delta Cl 65.58 1642.00 02'17'18' C2 60.14 1644.00 0705'46' �r hr �o xA eki:'i'i 'f 46889 9 .e Fss,NALSTO LAN$SJ�a 'Wiaw (9-.s fy-6S'zeZo Parcel No. 149450-0050-09 Page 9 of(9)Pages PLEASE MAKE NO MARK IN THE MARGIN SPACE-RESERVED FOR COUNTY RECORDER'S USE ONLY. EXHIBIT A PROPERTY DESCRIPTION SW 1/4:OF SEC. 03, T. 23 N., R. 05 E., W.M. CITY OF RENTON, KING COUNTY, WA LOT 5 OF CENTRAL HIGHLANDS PLAZA, PER AMENDED BINDING SITE PLAN RECORDED UNDER VOLUME 176 OF PLATS, PAGES 76-77, KING COUNTY RECORDS OF KING COUNTY, WASHINGTON. �.sofWAs ,4c/,• I 's 9, •46889 9 �A. xtt S SI",s,NA I. 6-IS-ZoZa EXHIBIT B TEMPORARY CONSTRUCTION EASEMENT DESCRIPTION SW 1/4 OF SEC. 03, T. 23 N., R. 05 E., W.M. CITY OF RENTON, KING COUNTY, WA A PORTION OF LOT 5 OF CENTRAL HIGHLANDS PLAZA, PER AMENDED BINDING, SITE PLAN RECORDED UNDER VOLUME 176 OF PLATS, PAGES 76-77, KING COUNTY RECORDS, SAID PORTION BEING MORE PARTICULARLY DESCRIBED AS FOLLOWS: BEGINNING AT THE, SOUTHEAST CORNER OF SAID LOT 5, ALSO BEING THE WESTERLY MARGIN OF DUVALL. AVENUE NORTHEAST; THENCE NORTH 88'48'55" WEST 10.00 FEET ALONG THE SOUTH LINE OF SAID LOT 5; THENCE NORTH 01'19'44" EAST 22.47 FEET; THENCE. NORTH '88'40'16" WEST 7.00 FEET; THENCE NORTH 01'19'44" EAST 63.82 FEET; • THENCE SOUTH 88'40'16" EAST 7.00 FEET; THENCE NORTH 01'19'44" EAST 31.27 FEET; THENCE SOUTH 88'40'16" EAST 5.00 FEET; THENCE NORTH 01'19'44" EAST'71.47 FEET; THENCE NORTH 88'40'16" WEST 5.00 FEET; THENCE NORTH 01'19'44" EAST 22.00 FEET; THENCE SOUTH 88'40'16" EAST 5.00 FEET; THENCE NORTH 01'19'44" EAST 38.43 FEET; THENCE NORTH 88'40'16" WEST 14.59 FEET TO A PROPERTY LINE OF SAID LOT 5; THENCE NORTH 00'51'02" EAST 1.84 FEET 'ALONG SAID PROPERTY LINE; THENCE NORTH 88'43'06" WEST 5.40 FEET CONTINUING ALONG SAID PROPERTY LINE; THENCE NORTH 01'19'44" EAST 36.00 FEET; 'THENCE SOUTH 88'40'16" EAST 15.00 FEET; THENCE NORTH 01'19'44" EAST 40.00 FEET; THENCE SOUTH 88'40'16" EAST 5.00 FEET; THENCE SOUTH O1'19'44" WEST 40.00 FEET; THENCE SOUTH 88'40'16" EAST 5.00 FEET TO SAID WESTERLY MARGIN; THENCE SOUTH 01'19'44" WEST 34.83 FEET ALONG SAID WESTERLY MARGIN; THENCE NORTH 88'40'16" WEST 1,00 FEET; THENCE SOUTH 01'19'44" WEST 41.43 FEET; THENCE NORTH 88'40'16" WEST 2.00 FEET; THENCE SOUTH. 01'19'44" WEST 17.00 FEET; THENCE SOUTH 88'40'16" EAST 3.00 FEET TO SAID WESTERLY MARGIN; THENCE SOUTH 01'19'44" WEST 76.47 FEET ALONG SAID WESTERLY MARGIN; THENCE NORTH 88'40'16" WEST 5.00 FEET; THENCE SOUTH 01'19'44" WEST 15.00 FEET; THENCE SOUTH 88'40'16" EAST 2.00 FEET; THENCE SOUTH 01'19'44" WEST 16.27 FEET; THENCE • SOUTH 88'40'16" EAST 3.00 FEET TO SAID WESTERLY MARGIN; THENCE SOUTH 01'19'44" WEST 52.90. FEET ALONG SAID WESTERLY MARGIN; THENCE NORTH 88'40'16" WEST 5.00 FEET; THENCE SOUTH, 01'19'44" WEST 17.00 FEET; THENCE SOUTH 88'40'16" EAST 5.00 FEET TO SAID WESTERLY .MARGIN;. THENCE SOUTH 01'19'44" WEST 16.37 FEET ALONG SAID WESTERLY MARGIN TO THE TRUE POINT OF BEGINNING; TOGETHER WITH A PORTION OF SAID LOT 5 BEING MORE PARTICULARLY DESCRIBED AS FOLLOWS: BEGINNING AT THE NORTHEAST CORNER OF SAID LOT 5, ALSO BEING THE WESTERLY MARGIN OF DUVALL AVENUE NORTHEAST; THENCE SOUTH 04'56'55" WEST 40.47 FEET ALONG SAID WESTERLY MARGIN; THENCE NORTH 85'03'05" WEST 3.00 FEET; THENCE SOUTH 04'56'55" WEST 9.00; THENCE SOUTH 85'03'05" EAST 2.00 FEET; THENCE SO4'56'55"W 47.02 FEET; THENCE NORTH 85'03'05" WEST 4.00 FEET; THENCE SOUTH 04'56'55" WEST 15.00 FEET; THENCE SOUTH 85'03'05" EAST 4.00 FEET; THENCE SOUTH 04'56'55" WEST 32.98 FEET; THENCE NORTH 85'03'05" WEST 2.00 FEET; THENCE SOUTH 04'56'55" WEST 9.39 FEET; THENCE SOUTH 85'03'05" EAST 3.00 FEET TO SAID WESTERLY MARGIN; EXHIBIT B CON'T TEMPORARY CONSTRUCTION EASEMENT DESCRIPTION SW 114 OF SEC. 03, T. 23 N., R. 05 E., W.M. CITY OF RENTON, KING COUNTY, WA THENCE SOUTH 04'56'55" WEST 4.07 FEET ALONG SAID WESTERLY MARGIN TO A POINT ON A TANGENT CURVE TO THE LEFT, WITH A RADIUS OF 1642.00 FEET; THENCE SOUTHERLY ALONG SAID CURVE THROUGH A CENTRAL ANGLE OF 01'19'53", AN ARC LENGTH OF 38.16 FEET; THENCE NORTH 86'22'58" WEST 2.00 FEET TO A POINT ON A NON-TANGENT CURVE TO THE RIGHT, WITH A RADIUS OF 2880.93 FEET, THE CENTER OF WHICH BEARS SOUTH 87'25'43" EAST; THENCE NORTHERLY ALONG SAID CURVE THROUGH A CENTRAL ANGLE OF 00'50'28", AN ARC LENGTH OF 42.29 FEET; THENCE NORTH 85'03'05" WEST 7.00 FEET; THENCE NORTH 04'56'55" EAST 57.37 FEET; THENCE SOUTH 85'03'05" EAST 5.00 FEET; THENCE. NORTH 04'56'55" EAST 47.02 FEET; THENCE NORTH 85'03'05" WEST 5.00 FEET; NORTH 04'56'55" EAST 9.00 FEET; THENCE NORTH 85'03'05" WEST 5.00 FEET; THENCE NORTH 04'56'55" EAST 39.54 FEET TO THE NORTH LINE OF SAID LOT 5; THENCE SOUTH 88'36'38" EAST 15.03 FEET ALONG SAID NORTH LINE TO THE TRUE POINT OF BEGINNING. CONTAINING 4,619 SQUARE FEET, MORE OR LESS. • O M Keg/ MCA )o,` 'Poi 46889 4 FS BGIST R, S/°NAL LAND SJ 6-(5-zozo EXHIBIT C TEMPORARY CONSTRUCTION EASEMENT SW 1/4 OF SEC. 03, T. 23 N., R. 05 E., W.M. CITY OF RENTON, KING COUNTY, WA _______ -- -- 1 -------L61 I ,. o T.P.O.B. A i L40 L39 o IV 100' L5 9 • ,L41 L42 —10 L57 .i /143 Parametrix L55 i L44 L45 ( APN 1494500050 ) j L46 ARGO RENTON LLC j L48 IL4 I 4601 NE SUNSET BLVD 98059 LSQ� L53 � ... L51 f 587'25'43"E ;i LOT 5 (RAD/AL) L52 CENTRAL HIGHLANDS PLAZA I AMENDED BSP VOL 176, PGS 76-77 L19 w L18 I L20, w L17 I L21 1 Q L16 L22 - --- L15 4' I J J -------- -—- 114 L13 .i 123 L24 I > L12 in 1-25 L26',, •",, L10L27 cLp of ea oe�,vi� II L9 el % 1 '�� moo*,c-� LB 1 j • L7 i L291 L6 ' ;i,� 130 L31 moo. 46889 -I? L32 TOSS DNA LS S sH s�� - -- 4 , L331 L35 19'l5"•2 -- DZO -- -- • 0 L36 L3 , L371 ------ _ LEGEND 1.2 L38 T.P.O.B. TRUE POINT OF BEGINNING Lt 1 I �� /. EASEMENT AREOANstRucTloN . T.P.O.B. • — — EXISTING RIGHT OF WAY UNE - - CENTERUNE —--—--—-- --— PROPERTY UNE ( APN XXXXXXXXXXX) KING COUNTY TAX PARCEL NUMBER TOTAL AREA 4,619 SQ. FT. , 925 Fourth Ave Ste 2000 S Seattle,WA 98104 Greg Goodman,MAI,206.369.0415.0415 Appraisal • Valuation • Consulting Matt Sloan MAI,SRA,206.234.6458 Qualifications of Matthew C. Sloan, MAI,SRA Principal of Soya Consulting Experience Matt Sloan, MAI,SRA,has nearly 20 years of experience working directly with a wide variety of agencies,earning his MAI designation in 2016 and SRA in 2019. Experience includes an extensive history of large right of way projects throughout the region,focused on valuation-related consulting but also including many aspects of the public project development process including project scoping/impact analysis,project budgeting,sensitivity and risk analysis, federal funding participation, key appraiser and appraisal management activities. His practice focuses on appraisal and valuation issues relating partial acquisitions, easements, and specialized studies of damages and special benefits related to commercial, industrial and residential properties. He has also worked on large Local Improvement Districts(LIDs)and performed a wide variety of other specialized studies. Education University of Washington,Seattle, Washington: Commercial Real Estate Certificate, a nine-month interdisciplinary program of specialized subject study including commercial real estate development, valuation, insurance, risk management, and business and real estate law.Completed June 2006. City University,Seattle, Washington: Bachelor of Science in Business Administration,emphasis in project management. Completed June 2005. Appraisal Institute/Other Completion of extensive required coursework,examination,capstone project and peer-audited experience review for obtaining MAI and SRA designations. Continual ongoing courses and seminars to satisfy continuing education requirements for both the Appraisal Institute and Washington Department of Licensing. Select Client List: Sound Transit Washington State Department of Transportation Port of Seattle Community Transit Puget Sound Energy Seattle Public Schools City of Seattle City of Bellevue King County Snohomish County Pierce County Skagit County Miller Nash Graham&Dunn Ellis Li McKinstry Preston Gates Enslee Best CH2M Hill HDR Engineering Universal Field Services LaBonde Land RESGroup NW Abeyeta&Associates CIC Valuation Group,Inc. (21(2 Real Estate Appraisers&Consultants 12729 Northup Way,Suite 7 ‘ .1.A T 101 Bellevue,WA 98005 REVIEW AND DETERMINATION OF VALUE NO. 1 PARCEL NOs. 149450-0010, -0020, -0030, -0050. TO: Sonja (Kraus) Davis, R/W, RI Federal Aid No: STPUL-Y372 (002) RES Group Northwest 624 S. LANDER STREET, SUITE 202 Project: Central Highlands Plaza SEATTLE, WA 98134 4601 NE Sunset Boulevard Renton, WA FROM: STEPHEN WM. JUNTILA, CRA, SR/WA (ret.) Map: N/A RES Group Northwest on behalf of the City of Renton is the client of this reviewer and the intended user of this report that is prepared to assist in the acquisition of real property for public purposes. The subject of this review assignment and the date of value are those of the appraisal report under review unless otherwise noted. The scope of work of the appraisal report is extended to this review.The following appraisals have been made on subject property: ALLOCATION APPRAISER DATE OF BEFORE AFTER JUST ACQUISITION TCE VALUATION VALUE VALUE COMPENSATION 1 Matt Sloan, MAI 2/22/2020 $11,569,000 $11,497,000 $72,000 $52,000 $20,000 2 The following determinations of value have been made on subject property: Review Appraiser Amount Date Revised Amt. Date Revised Amt. Date JUNTILA (1) $72,000 2/22/2020 (2) (3) Reviewer's Inspection and Analysis: (List building, structures, fixtures and improvements to be acquired. Explain variances, if any, between reviewer's findings and appraisal(s): FORM APPRAISAL REVIEW Tax ID #: 149450-0010, -0020, -0030, -0050. APPROVED VALUE: $72,000 OWNER'S Argo Renton LLC (Argonaut NAME: Investments, LLC) IL_ APPRAISER: Matt Sloan, MAI, SRA, SOVA Consulting DATE OF VALUE: 2/22/2020 DATE OF REPORT: 3/4/2020 REVIEWER: STEPHEN WM JUNTILA Date submitted for review: 3/9/2020 REVIEW DATE: 3/10/2020 CONTRACT # N/A REVIEW STATUS ACQUISITION STATUS NEW (1"Review) X TOTAL UPDATE (2nd PARTIAL X Review) CORRECTIONS EASEMENTS X REVISION OTHER TCE Cost to cure landscaping SECTION 1 REPORT FORMAT AND PRESENTATION Form revised 3/1/2020 CIC Valuation Group, Inc. GOOD ADEQUATE POOR NONE LEGAL DESCRIPTION X TITLE DELINEATION X SUBJECT DESCRIPTION X ZONING X PHYSICAL FACTORS X UTILITIES X ACQUISITION AREA SIZE X ACQUISITION AREA X LOCATION EFFECTS OF ACQUISITION X PRESENTATION OF SALES X CORRELATION OF SALES X MAPS&SKETCHES X PHOTOS X COMP SALES SHEETS X TITLE REPORTS&BACKUP X SECTION 2 CALCULATIONS, The following items were found to be erroneously calculated:land value None ITEM PG/SECT DOES AFFECTS VALUE DOES l QI AFFECTS VALUE Land Value Easement impact APPRAISER [X] DID [ ] DID NOT INSPECT THE SUBJECT PROPERTY 31 APPRAISER [X] DID [ ] DID NOT INSPECT THE COMPARABLE SALES SECTION.3 DATA AND INFORMATION The following items were found to be erroneously stated: None ITEM PG/SECT DOES AFFECTS VALUE DOES NOT,AFFECT VALUE REVIEWER [X]DID [ ]DID NOT INSPECT THE SUBJECT PROPERTY REVIEWER [X]DID [ ] DID NOT INSPECT THE COMPARABLE SALES SECTION 4 CONCLUSIONS OF VALUE [NOTE: Supported by report indicated below by YES or NO;Additional support is needed if box checked below] ITEM-APPRAISED VALUE YES NO ADDITIONAL SUPPORT ESTIMATED LAND VALUE X ESTIMATED COMPENSATION FOR EASEMENT X ESTIMATED COMPENSATION FOR RESTRICTIONS X ESTIMATED VALUE OF IMPROVEMENTS X OTHER(explain) FINAL VALUE OR COMPENSATION X Form revised 3/1/2020 CIC Valuation Group,Inc. 2 REVIEW CHECKLIST FOR APPRAISAL COMPLIANCE WITH USPAP AS SET FORTH IN STANDARDS RULE 2-1 AND 2-2 PROPERTY IDENTIFICATION: Central Highlands Plaza 4601 NE Sunset Boulevard Renton,Washington 98059 EFFECTIVE DATE OF APPRAISAL: 2/22/2020 APPRAISER: Matt Sloan, MAI,SRA Indicate in the column below whether or not the appraisal complies with each of the following USPAP Standards: 2-1 (a)yes Is the appraisal clearly and accurately set forth in a manner that is not misleading? 2-1(b)yes Does the appraisal contain sufficient information to enable the person(s) who receive or rely on the report to understand it properly? 2-1(c) yes Does the appraisal clearly and accurately disclose any extraordinary assumptions or limiting condition that directly affects the appraisal? Does the appraisal indicate the resulting impact on value? 2-2(a)yes Does the appraisal identify and describe the real estate being appraised? 2-2(a)Yes Does the appraisal identify the real property interest being appraised? 2-2(a)ves Does the appraisal state the purpose of the appraisal? 2-2(a)Yes Does the appraisal define the value to be estimated? 2-2(s)yes Does the appraisal state the effective date of the appraisal and the date of the report? 2-2(a)yes, Does the appraisal describe the extent of the process of collecting, confirming,and reporting data? 2-2(a)Yes Does the appraisal set forth all assumptions and limiting conditions that affect the analyses,opinions,and conclusions? 2-2(a)yes Does the appraisal set forth the information considered,the appraisal procedures followed,and the reasoning that supports the analyses, opinions, and conclusions? 2-2(a)yes Does the appraisal set forth the appraiser's opinion of highest and best use? 2-2(a)yes Does the appraisal explain and support the exclusion of any of the usual valuation approaches? 2-2(a)Yes Does the appraisal set forth additional information that may be appropriate to show compliance with the requirements of USPAP Standards Rule 1? 2-3 (a)yes Does the appraisal have a signed certificate in accordance with Standards Rule 2-3? • Form revised 3/1/2020 CIC Valuation Group,Inc. 3 REVIEW CHECKLIST FOR APPRAISAL COMPLIANCE WITH THE"FINAL RULE"STANDARDS AS SET FORTH IN THE FOLLOWING CODES OF FEDERAL REGULATIONS IF APPLICABLE: } Office of Comptroller of the Currency 12 CFR Part 34 Federal Highways CFR 49 part 24 Federal Deposit Insurance Corporation 12 CFR Part 323 Office of Thrift Supervision 12 CFR Part 564 Federal Reserve System 12 CFR Part 225 FIRREA sets forth fourteen"Final Rule Standards"for acceptable appraisals for financial institutions. Answer each question with a (YES)or(NO)in the space provided below. When appropriate, please indicate the page number(s)on which each standard is presented within the report.Although the report under review is not to be relied upon by a financial Institution, we find this check list informative. 1. yes Does the appraisal conform to the Uniform Standards of Professional Appraisal Practice(USPAP) adopted by the Appraisal Standards Board of The Appraisal Foundation?(Note: The departure provision of the USPAP does not apply to federally related transactions.) 2.ves Does the appraisal disclose any steps that were taken to comply with the Competency Provision of USPAP? 3.similar1 Is the appraisal based upon the following definition of market value:"The most probable price which a property should bring in a sale,the buyer and seller,each acting prudently, knowledgeably and assuming the price is not affected by undue stimulus. Implicit in this definition is consummation of a sale as of a specified date and passing of title from seller to buyer under conditions whereby: buyer and seller are typically well motivated; both parties are well-informed or well-advised and each acting in what he/she considers his/her own bes interest; a reasonable time is allowed for exposure in the open market; payment is made in terms of cash in U.S. dollars or in terms of financial arrangements comparable thereto; and the price represents the normal consideration for the property sold unaffected by special or creative financing or sales concessions granted by anyone associated with the sale." 4.ves Is the appraisal written in a narrative format or on forms that satisfy all the requirements of this section; is the appraisal sufficiently descriptive to enable the reader to ascertain the estimated market value and the rationale for the estimate; and does the appraisal provide detail and depth of analysis that reflect the complexity of the real estate appraised? 5.ves2 Does the appraisal analyze and report in reasonable detail any prior sales of the property being appraised that occurred within the last three years? 6.N/A Does the appraisal analyze and report data on current revenues,expenses,and vacancies for the property if it is and will continue to be income producing? 7. yes Does the appraisal analyze and report a reasonable marketing period for the subject property? 8. N/A Does the appraisal analyze and report on current market conditions and trends that will affect projected income or the absorption period, to the extent they affect the value of the subject property? 9. N/A Does the appraisal analyze and report deductions and discounts for any proposed construction,or any completed properties that are partially leased or leased at other than market rents as of the date of appraisal, or any tract developments with unsold units? i 10. ves Does the appraisal include in the certification required by USPAP an additional statement that the appraisal assignment was not based on a requested minimum valuation,a specific valuation,or the approval of a loan? 11. yes _ Does the appraisal contain sufficient supporting documentation with all pertinent information reported so that the appraiser's logic, reasoning judgment,and analysis,in arriving at a conclusion indicate to the reader the reasonableness of the market value reported? 12. yes Does the appraisal include a legal description of the real estate being appraised, in addition to the description required by USPAP? 13. N/A Does the appraisal identify and separately value any personal property,fixtures, or intangible items that are not real property but are included in the appraisal, and does the appraisal discuss the impact of their inclusion or exclusion on the estimate of market value? 14. yes Does the appraisal follow a reasonable valuation method that addresses the direct sales comparison, income,and cost approaches to market value; reconcile those approaches; and explain the elimination of each approach not used? i The report appropriately relies upon the Washington Pattern Instruction 150.08 2 County records indicate the current owner purchased the property in October 2013 for$8,950,000. Form revised 3/1/2020 CIC Valuation Group,Inc. 4 APPRAISAL REVIEW Effective Date of Appraisal: 2/22/2020 Legal Interest: Fee Market Value Appraised: [ X ] AS IS [ ] When Completed [ ] When Stabilized SCOPE OF ADMINISTRATIVE APPRAISAL REVIEW: A review of appraisal components is conducted by using a twenty- four-point checklist. The appraisal report is rated in four categories per USPAP Standards Rule 3-1(c), (d), (e),and (f)and the report is assigned an Overall Rating. This Overall Rating represents the Review Appraiser's opinion as to the adequacy and appropriate-ness of the appraisal report. This Overall Rating as well as other appraisal issues are discussed in the"Comments" section of this review. The reviewer's recommendation follows these comments. Checklists are also utilized to determine compliance with USPAP and the Fourteen"Final Rule"Standards governing federally related transactions. These completed checklists are attached to this report. In completing this review,the Reviewer has: [ X] Read Report [ ] Interviewed Appraiser [ X ] Inspected Property REVIEW OF APPRAISAL COMPONENTS N/A EXCELLENT AVERAGE MARGINAL MISSING 1. Summary of Facts &Conclusions x 2. Assumptions &Limiting Conditions x 3. Description of Site&Improvements x 4. Description of Personal Property x 5. Effective Age or Remaining Economic Life x 6. Property Ownership History V x 7. Overall Area Description &Trend (macro) x 8. Neighborhood Description &Trend (micro) x 9. Supply&Demand Market Analysis x 10. Tax Analysis&Trend x 11. Zoning Analysis&Trend x 12. Easements&Other Restrictions x 13. Estimated Time to Income Stabilization x 14. Highest&Best Use as though Vacant x 15. Highest&Best Use as Improved x 16. Exposure Time & Estimated Marketing Time x 17. Property Rent&Expense Analysis x 18. Comparable Rent&Expense Analysis x 19. Analysis of Tenant Lease Terms x 20. REPLACEMENT COST APPROACH x 21. COMPARABLE SALES APPROACH x 22. INCOME CAPITALIZATION APPROACH x 23. DISCOUNTED CASH FLOW ANALYSIS x 24. RECONCILIATION OF VALUE x Form revised 3/1/2020 CIC Valuation Group,Inc. 5 APPRAISAL REVIEW REVIEWER'S RATING OF APPRAISAL REPORT Per USPAP Standards Rule 3-1 EXCELLENT AVERAGE MARGINAL Overall Completeness of Report X Adequacy&Relevance of Data &Adjustments to Date X Appropriateness of Methods &Techniques X Reasonableness of Analysis, Opinions&Conclusions X OVERALL RATING: [ X ] EXCELLENT [ ] AVERAGE [ ] MARGINAL REVIEWER'S COMMENTS We appreciate the opportunity to review the work of Matt Sloan of SOVA and to be of service to RES Group Northwest and the City of Renton. Our subject here is a commercial zoned (CA) four parcel assemblage comprising 349,720 SF located at the SW corner of NE Sunset Boulevard and Duvall Avenue NE, easterly of I-405 in the Highlands Park neighborhood of Renton. Site dimensions are about 600 feet wide (east-west) and with about 590 feet (average) of north-south depth. The subject is improved with four circa 1979 large box retail buildings comprising 93,571 SF and related site improvements operating as a neighborhood retail center. The tenants are an Albertson's Grocery, Planet Fitness, Big Lots and an Ace Hardware. The structures themselves are described in greater detail on page 6 and are deemed sufficiently removed from the areas proposed for acquisition as to not be damaged, retaining the same value in contribution in the After condition as they do in the Before. HABU is deemed to be the current use. (see aerial photos on pages iii and 22 and sketch on page 4). The City of Renton proposes to acquire a permanent five-foot slope and utility easement along the easterly property boundary for a total of 2,912 SF. In addition to the permanent easement a 5-foot strip is proposed to encumber 4,820 SF with a TCE to facilitate access to the site during the construction of street improvements within the abutting Duvall Avenue NE right-of-way and easement area for a period of 24 months. The area of acquisition is improved with asphalt/curbing at three driveway locations, several trees,juniper and other shrubbery landscaping. It is the appraiser's understanding that the trees will not be removed however the groundcover juniper will likely be removed and not replaced. Asphalt pavement and curbing will be replaced if removed or otherwise impacted. The subject is valued on an "as if clean"basis. Site valuation is opined from analysis of 4 sales and a listing summarized on page 12 with complete write ups and paragraph discussions of each following. An adjustment grid is on page 19 leading to a conclusion of unit value per SF of$33.00 or a site value of$11,540,000 (rd). Impacted minor site improvements are estimated based on the Marshall Valuation Service Cost Manual, not best, but valued in contribution at a reasonable figure of$28,000 In review we concur with the Before value of$11,569,000 (rd). The After condition is a hypothetical assuming that the acquisitions have occurred and the project is complete as designed. In this case, the After condition reflects the encumbrance of the permanent slope and utility easement and the loss of minor site improvements and landscaping within the proposed acquisition area. It also reflects the property being located on a reconfigured four-lane arterial with new curbs, gutters, sidewalks, and street lighting, significant frontage improvements, a general benefit.The Temporary Construction Easement (TCE) adjacent to the permanent easement necessary to facilitate access to the site while constructing project improvements and to tie-in existing driveway approaches with the newly configured roadway improvements is no longer encumbering the subject. Because there is no fee acquisition, the site will be the same size, shape, and general configuration in the after condition. Potential redevelopment potential is unaffected. The property will have a loss of some landscaping due the installation of utilities and construction of the project. The utility easement is valued in a direct and understandable method as to discount ranges typical in the appraisal profession.The TCE is likewise valued in the most common method similar to a short-term land lease. In review we concur with these conclusions We direct the reader to the summaries on pages 25 and 26. Owner contact is reported on page 29 and is deemed adequate. Value Conclusions&Allocations Site Area Before Condition $11,569,000 After Condition $11,497,000 Just Compensation/Diminution $72,000 Easement Acquisition (Rounded) $24,000 Temporary Construction Easement$20,000 Impacted Site Improvements$28,000 Form revised 3/1/2020 CIC Valuation Group,Inc. 6 ROUNDED $72,000 REVIEWER'S RECOMMENDATIONS Based on the above Overall Rating, and the sufficiency of the appraisal for regulatory compliance purposes,the Reviewer recommends the following: [ X ] Accept the appraisal as written. [ ]Request that the appraiser revise the existing appraisal and address the concerns and issues cited in this review, OR [ ] Have a new appraisal report prepared by another appraiser, OR [ ] Accept the valuation provided in this review appraisal Form revised 3/1/2020 CIC Valuation Group,Inc. 7 REVIEWER APPRAISER'S CERTIFICATION I HEREBY CERTIFY THAT,TO THE BEST OF MY KNOWLEDGE AND BELIEF { • The facts and data reported by the Review Appraiser and used in the review process are true and correct. • That the Determination of Value which has been set forth above has been, independently reached based on appraisals and other actual data of record without collaboration or direction. • The analysis,opinions, and conclusions in this review are limited only by the assumptions and limiting conditions stated in the appraisal report under review by extension and this review report or the project file,and are my personal, unbiased professional analysis,opinions and conclusions. • That I have no present or prospective direct or indirect personal interest the property that is the subject of this report and no personal interest with respect to the parties involved. Nor will I in any way benefit from the acquisition of such property appraised. I have no bias with respect to the property that is the subject of this report or to the parties involved with this assignment. My compensation is not contingent on any action or event resulting from the analysis,opinions, or conclusions in, or the use of this review report. • I did inspect the exterior subject property of the appraisal under review.That I have personally inspected the property to be acquired and the comparable sales applicable thereto except as set forth above { • No one has provided professional assistance in the form of research and review documentation. No one else has provided significant professional assistance in completing this review, I have not incorporated• p my personal opinion of value,which was formed independently of the appraisal under review, into this report. • My analysis,opinions,and conclusions were developed and this review report was prepared in conformity with the Uniform Standards of Professional Appraisal Practice. I have taken the necessary steps,when incorporating my personal opinion of value into this review to: satisfy the requirements of the Uniformed Standards of Professional Appraisal Practice, Standards Rule 1; identify and set forth any additional data relied upon and the reasoning and basis for the different estimate of value; and clearly identify and disclose all assumptions and limitations connected with forming my personal opinion of value. • My engagement in this assignment was not contingent upon developing or reporting predetermined results • I have performed no prior valuations services related to the subject property. • My analyses, opinions,or conclusions were developed and this review report was prepared in conformity with the Local Agency Guidelines established by the Washington State Department of Transportation and USPAP. • That the Determination of Value which has been set forth above has been, independently reached based on appraisals and other actual data of record without collaboration or direction. APPRAISER'S ESTIMATE OF VALUE OR JUST COMPENSATION $72,000 REVIEWER'S RECOMMENDATION $72,000 The Reviewer[ ] DOES [ X] DOES NOT recommend a second appraisal. Please see Appraisal Project File for a complete document as to Assumptions and Limiting Conditions as well as Certifications. Signature Stephen Wm Juntila, CRA, SR/WA (ret) Washington State Certified General Real Estate Number 27011-1100650 Date 3/10/2020 Form revised 3/1/2020 CIC Valuation Group,Inc. 8 t - City of Renton CONCURRENCE AND AUTHORIZATION The City of Renton does hereby indicate concurrence with the above certification and does authorize ( further action by the appropriate Department and/or its agents to proceed according to established procedures with the acquisition of the property. 1. I have nopresent or prospective interest in the property that is the subject of this report; and P P P P Y ] P 2. I have no personal interest or bias with respective to the parties involved; and 3. My compensation is no contingent on an action or event resulting from this report. Title vvy et-al/— Date 0/2.0 Form revised 3/1/2020 CIC Valuation Group,Inc. 9 October 29,2019 Property Owner 101 LARKSPUR LANDING CIR 120 LARKSPUR CA 94939 Re: Duvall Avenue NE Tax Parcel Number: 1494500050 Property Address:4601 NE Sunset Blvd, Renton,WA Dear Property Owner: The City of Renton has been developing the Duvall Avenue NE Project.The project consists of a roadway improvement project that will improve traffic and public safety along Duvall Avenue NE,a four-lane, high volume arterial. The project will repave the road,install center medians with landscaping,and complete the existing patchwork of curbs/gutters/sidewalks for a consistent streetscape. The majority of the new improvements will be constructed within the existing City right-of-way but for a small number of properties the City of Renton will require additional property and/or temporary easements to construct the new improvements.We have determined it will be necessary to acquire a small portion of your property and/or temporary construction easement for this project. • In that regard,the City would like to introduce you to those firms that are working with the City on the project. The firm providing the overall engineering design is Parametrix.Additionally, RES Group Northwest,an independent real estate consultant to the City will be reaching out to you to discuss the acquisition. The City of Renton is committed to working closely with you to fully understand your concerns and provide the appropriate assistance. A representative from RES Group Northwest will be contacting you in the next few weeks to set up appointments to meet with you and to provide you with an opportunity to discuss specific information regarding the project impact to your property. If you have any questions before that time,or if you anticipate that we would have any problem contacting you, please call Sonja Davis, RES Group Northwest at(425)577-2184,or me at City of Renton at(425)430-7303. Sincerely, Flora Lee, PE, PTOE Transportation Design Project Manager