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Recorded Development Agreement
WhenRecorded,Returnto:CiTyCLERK’SOFFICECityofRenton10555.GradyWay,Suite72$Renton,WA98057CQNFOFMEDCOPY111111111JIllliii1111111111JIll!1111111111111111111111111111111111111120170808000589AGREEMENTRec:$89008/81201711:57AMKINGCOUNTYWADEVELOPMENTAGREEMENTFORQUENDALLTERMINALSTHISDEVELOPMENTAGREEMENT(“Agreement”)byandbetweentheCITYOFRENTON,amunicipalcorporationorganizedandexistingunderthelawsoftheStateofWashington(“City”),andQUENDALLTERMINALS,aWashingtonjointventure,itssuccessorsandassigns(“Developer”),ismadeandenteredintothis12thdayofJune,2017(the“EffectiveDate”)pursuanttotheauthorityofRCW36.70B.170etseq.TheCityandDeveloperarethePartiestothisAgreement.RECITALSA.Developeristhedeveloperofthatcertainrealpropertycomprising20.3acresmoreorlesslocatedbetweenLakeWashingtonandLakeWashingtonBoulevard,andthatcertaintealpropertycomprising1.2acresmoteorlessacrosstherailroadrightofwaytotheeast,bothwithinthemunicipalboundariesoftheCityofRentoninKingCounty,Washington,andlegallydescribedonExhibitAattachedheretoanddepictedonExhibitA-i(the“QuendallProperty”or“Property”)).Grantors:TheCityofRentonandQuendallTerminalsGrantees:TheCityofRentonandQuendallTerminalsAbbreviatedLegalDescription:ThatportionofGovernmentLot5inS.29,T.24N,R.5E,W.MAdditionalLegalDescriptiononPage15ofDocument(ExhibitA)Assessor’sPropertyTaxParcel/AccountNumber:2924059002ORLINOTYETASSIGNEDQuendallTerminalsDevelopmentAgreementPage; B.DeveloperintendstodeveloptheQuendallPropertyasamixed-usemulti-familyresidentialdevelopment(the“Project”),asmoteparticularlydescribedinlanduseapplications,LUAO9-151,onfilewiththeCityofRentonand,subjecttothisAgreement,includingtheEnhancedAlternativedescribedherein.Projectdevelopmentmaybephased,subjecttotheconditionsoftheHeatingExaminer’sDecision.C.TheQuendallPropertyhasreceivedaSuperfunddesignationfromtheU.S.EnvironmentalProtectionAgency(“EPA”)andDeveloperiscurrentlyworkingonaremediationplanwiththeEPA.ThisAgreementpertainstoredevelopmentoftheremediatedProperty.ThePartiesintendthatthisAgreementbeconstruedtoenabledevelopmentauthorizedbytheHearingExaminer’sDecisionontheMasterPlanandsubsequentnecessaryand/orappealedlandusedecisions.SuchdevelopmentshallcontainatminimumtheattributesidentifiedasProjectElementsinSection3andcomplywithallconditionsandamenitiesidentifiedintheapprovedMasterPlan.DevelopmentwouldoccurinamannerconsistentwithpostremediationsiteconditionsandsuchcontrolsasareimposedbyoragreedtowiththeEPA.Forinstance,ifremediationisundertakeninphases,thenProjectphasingmaybecoordinatedtooccurfirstonremediatedareasoftheProperty,pendingaCityapprovedfinalphasingplanthatisconsistentwiththephasingconditionsoftheMasterPlanDecisionoranysubsequentlanduseactions.D.DevelopersubmittedProjectapplicationsforaMasterPlanapproval,BindingSitePlanapprovalandShorelineSubstantialDevelopmentpermit,whichapplicationsweredeemedcompletebytheCityonFebruary10,2010(together,the“InitialProjectApplications”).E.PursuanttotheStateEnvironmentalPolicyAct,Ch.43.21CRCW(“SEPA”),theCityissuedaDraftEnvironmentalImpactStatement(the“DEIS”)onDecember10,2010,ontheInitialProjectApplicationsandalternatives.InresponsetocommentsontheDEIS,DeveloperdevelopedaPreferredAlternativethatwasdownsizedfromtheDEIS,andofficespacewasremovedfromtheproposal.KeyProjectspecificationsofthePreferredAlternativearesetforthintheMasterPlanapplicationmaterials,LUAO9-151andattachedtotheStaffReporttotheHearingExaminerasExhibits.TheCityissuedanaddendumtotheDEISonOctober19,2012,whichaddressedthePreferredAlternative(the“Addendum”).AFinalEnvironmentalImpactStatement(the“FEIS”)andMitigationDocumentwereissuedonAugust31,2015.F.InJanuary2016,attheCity’srequest,DeveloperupdatedtheInitialProjectApplicationsplansetstoreflectthePreferredAlternativeandincorporateplansetlevelcomponentsofthespecifiedSEPAmitigationmeasures.QuendallTerminalsDevelopmentAgreementPage2 G.PursuanttotheRevisedCodeofWashingtonChapter36.70B.170etseq.(“theDevelopmentAgreementStatute”),theCitymayenterintoadevelopmentagreementwithanentityhavingownershiporcontrolofrealpropertywithinitsjurisdiction.H.Adevelopmentagreementcanprovideforanextendeddurationofapprovals.TheDeveloperiswillingtoincorporatemorepublicbenefitsintotheProject,asspecifiedintheEnhancedAlternativesetforthherein,inexchangeforextendedpermitduration.I.ItistheintentofthisDevelopmentAgreementtoprovidefordevelopmentoftheProjectusingtheEnhancedAlternativeaddressedherein,togetherwithallothertermsandconditionsofthisAgreement,provided,however,thatthePartiesacknowledgethatProjectapplicationsfortheEnhancedAlternativearesubjecttohearinganddecisionbytheRentonHearingExaminerasprovidedunderRentonMunicipalCodeSections4-9-200(D)(1)and4-8-070(i).i.TheCity’sResponsibleSEPAOfficialhasreviewedtheProjectchangesproposedundertheEnhancedAlternativeandthisDevelopmentAgreementinaccordancewithSEPA,andhasissuedadeterminationofconsistencywiththeexistingSEPAreview.TheDEIS,Addendum,FEIS,andDeterminationofConsistencytogetherconstitutethe“Project-levelSEPAReview.”K.TheHearingExaminerheldapublichearing,asauthorizedbyCityCouncil,onthisDevelopmentAgreementonApril18,2017.L.TheCityhasfoundthatdevelopmentoftheEnhancedAlternativeofallorportionsoftheQuendallPropertyconsistentwiththisAgreementandtheassociatedlandusedecisionswillbenefitthecommunityatlargeincludingtheQuendallProperty.NOWTHEREFORE,inconsiderationofthemutualagreementsofthePartiessetforthherein,aswellasothervaluableconsideration,thereceiptandsufficiencyofwhichisherebyacknowledged,thePartiesherebycovenantandagreeasfollows:AGREEMENTS1.ADDITIONALDEFINITIONS.DevelopmentRegulationsmeanthoseregulationsencompassedinTitleIVoftheRentonMunicipalCode(“RMC”)ineffectontheVestingDate.QuendallTerminalsDevelopmentAgreementPage3 EnhancedAlternativemeanstheProjectsubstantiallyasdescribedintheProjectElementsatSection3andontheMasterPlanandassociatedconditionsofapprovalasapprovedbytheHearingExaminer.LandUsePoliciesandRegulationsmeanRentonComprehensivePlanlandusedesignationsandpolicies,andtheDevelopmentRegulations,ineffectontheVestingDate.MasterPlanDecisionmeansthedecisionoftheHearingExaminerontheMasterPlan,ShorelineSubstantialDevelopmentPermit,andBindingSitePlanapplicationsunderLUAO9-151.RMCmeanstheRentonMunicipalCode.TheVestingDateisFebruary10,2010,thedatethattheCitydeterminedthatDeveloper’sapplicationsforaMasterPlanapproval,BindingSitePlanapprovalandShorelineSubstantialDevelopmentpermitwerecomplete.2.BASISOFAGREEMENT.2.1Intent.ThisAgreementestablishescertainrolesandresponsibilitiesforthepotentialredevelopmentofalloraportionoftheQuendallPropertyundertheEnhancedAlternativedescribedinSection3herein,includingbutnotlimitedtoDevelopercommitmentsthatdevelopmentoftheMasterPlanshallbeconsistentwiththevestedLandUsePoliciesandRegulationsandthetermsandconditionsofthisAgreementandanyassociatedlandusedecisionsfortheproject.ItistheintentofthisAgreementthatredevelopmentmaybephasedaccordingtotheprinciplessetoutinthisAgreement,subjecttoCityofRentonapprovalandtheconditionssetforthintheMasterPlanDecision.3.PROJECTELEMENTS.TheProjectEnhancedAlternativeshallincludetheProjectElementswhichincludesthefollowing:3.1EnhancedAlternative.ThePartiesagreethatthefollowingenhancementstothePreferredAlternativeareinthepublicinterestandsupportProjectobjectives.ThePartiesagreethattheProjectwiththeEnhancedAlternativesshouldbetakenthroughtheHearingExaminerprocessinaccordancewithRMC4-9-200(D)(1)and4-8-070(i).3.1.11.3acresofthesouthwestcorneroftheProjectshallbeapublicparkconstructedbytheDeveloperandmaintainedbytheHomeowners’Association,openforpublicusebetweenthehoursofdawntodusk;QuendallTerminalsDevelopmentAgreementPage4 3.1.2Retail/restaurant/officespaceandstreetactivation(fountains,artwork,etc.)shallberequiredatstreetlevelalongStreetBandalongthelakesidefrontageofresidentialbuildingsandotherstreetfrontageasnecessarytoqualifyforaminimumof50percentofthebuildingstreetfrontageataminimumdepthof20feetoftheprojectsite;3.1.3ThedeveloperandtheCitywillcollaborateinthedevelopmentofapublicdock/pierassociatedwiththepublicpark.TheDeveloperandCityshalljointlydevelopafuturedockproposalforpermittingandenvironmentalreviewthataddressespublicandProjectintereststotheparties’mutualsatisfaction(“FutureDockProposal”).TheCitywillberesponsibleforobtainingallrequitedpermits.TheDevelopershallfundpermittingcostsfortheFutureDockProposalandconstructthedockandanyrequiredmitigation,providedthatboththeCityandDeveloperapproveofthefinaldockdesign,budget,andalldockpermitconditions.ShouldtheEPAoreitherpartynotapprovethedocklocationanddesigntheCityandthedeveloperwillworktogethertodevelopanalternativeproposaltoallowforaccesstoLakeWashingtonwhilemeetingtherequirementsoftheEPA.TheFutureDockProposal,designandpermittingshallbecompletedwithinthefirstfive(5)yearsofthetermifthisagreement.TheFutureDockProposalshallbeconstructedandcompletedforpublicaccesswithinthisfirstten(10)yearsofthetermofthisagreement.AllworkrelatedtotheFutureDockProposalshallbepermitted,constructed,andfinalinspectioncompletedpriortofinaloccupancyofthelastbuildingintheMasterPlan.3.1.4ThePartiesagreethattheCityshallhavetherightandtheDeveloperisrequired,followingyearfiveoftheInitialTermofthisAgreementasdefinedinSection4,toconductanupdatedtransportationanalysisincompliancewithSEPA(the“SEPATransportationUpdate”),whichshallbesubjecttoCityreview.InordertoimposerequirementsoftheSEPATransportationUpdate,thepropertyownershallberequiredtoprovidewrittennoticetotheCity,aftertheforegoingtimetriggerhasoccurred,thattheSEPATransportationUpdate(the“UpdateNotice”)willbeperformed.TheTransportationUpdateshallresultinwrittenfindingsandconclusions,andmayresultinarecommendationforreasonablenewfuturepermitconditionsandmitigationsfortheProject,ifrequiredbasedonchangedconditionsandassociatedProjectimpacts.litheSEPATransportationUpdateidentifiessignificantadversetransportationimpactsoftheProjectthatarenotmitigatedintheoriginalSEPAtransportationanalysis,thentheCitymayimposeadditionalmitigationtoaddresssuchunmitigatedProjectimpacts.3.1.5BuildingSW4shallbeconstructedatnomorethan3floorsoverparking,building5W3shallbeconstructedatnomorethan4floorsoverparking,andallotherbuildingsshallbeconstructedatnomotethan5floorsoverparking.QuendallTerminalsDevelopmentAgreementPage5 3.2MitigationPlan.TheMitigationPlanconsistsofthemitigationdocumentissuedonAugust31,2015andanymitigationconditionsaddedbytheHearingExaminerintheMasterPlanDecision.InadditionthemitigationplanwillincludeanynewtransportationpermitconditionsandtransportationmitigationrequirementsfortheProjectasaresultoftheTransportationUpdatefollowingyearfive.TheMitigationPlanalsowillincludeanynewtransportationpermitconditionsandtransportationmitigationrequirementsfortheProjectasaresultoftheTransportationUpdatefollowingyear10oftheInitialTermofthisAgreement,ifapermitextensionunderSection4ofthisAgreementisrequestedandpermitted.3.3ProjectPhasing.DevelopmentoftheProjectmaybephasedconsistentwiththeapprovedMasterPlanandSEPAMitigationDocumentandanysubsequentlanduseapprovalssuchassiteplanreview,bothduringremediationandforpurposesofDeveloper’sdevelopmentprogram,includinginresponsetomarketconditions.TheCityandtheDeveloperacknowledgethat,generally,siteremediationunderEPA’soversightwilloccurbeforeProjectdevelopment,provided,however,thatduringremediationtheDevelopermayinstallcertainProjectinfrastructurecomponents.ThePartiesfurtheragreetoallowphasingaccordingtothefollowingphasingprinciples,provided,however,thatthePartiesmaydeterminethatamoredetailedProjectPhasingPlanwillbepreparedtogovernProjectPhasing:3.3.1AProjectPhasemayincludeoneormoreProjectLots.Alternatively,aProjectPhasemayincludeoneormoreProjectBuildings,assuchBuildingsaredefinedanddepictedintheQuendallTerminalsMasterPlan,LUAO9-151.3.3.2EachProjectPhaseshallhaveallrequiredinfrastructureandmitigationforthephaseinplaceatthetimeofcertificateofoccupancy,orfinalinspectionifthephaseorusedoesnotrequireacertificateofoccupancy,sufficienttoprovidepedestrianandvehicularaccess,utilitiesandpublicfacilitiesincludingparkingareasforbicyclesandvehicles,siteamenitiesidentifiedforthephaseandsemi-privateopenspace.3.3.3DevelopmentofLotsorBuildingsabuttingStreetBmaybeprioritizedtobethefirstProjectPhase(s)ofdevelopment,provided,however,thatthePartiesagreetoconsideralternativeProjectPhasingprioritiesifneededinresponsetosequencedremediation.3.4DurationofProjectPermits.ProvidedthatProjectpermitsareapprovedbytheHeatingExaminer,allCitylandusepermitsandapprovalsissuedfortheProjectshallenjoyadurationthroughthetermofthisAgreement,includinganyextensionsunderSection4.QuendallTerminalsDevelopmentAgreementPage6 4.TERM.ThetermofthisAgreementshallbeginontheEffectiveDateandcontinuefortenyearsfromtheearlierof(i)thedateofissuanceoftheEPA’sRecordofDecision,or(ii)theHeatingExaminersDecisionand/oranysubsequentappealdecisiondates(“InitialTerm”).ThisAgreementshallremainineffectduringitstermunlessanduntilDeveloper(owningatleast51percentoftheQuendallPropertybyassessedvalue((excludinganyCity-ownedland))givesnoticeoftermination.1151percentoftheresidentialandcommercialspacehasbeenconstructedandreceivedaCertificateofOccupancy(CO)thentheCitymayextendthisAgreement,followingasecondSEPATransportationUpdate,uponDeveloper’srequest30daysinadvanceofthesunsetdate,foroneadditionalfive-yearperiodoftime.5.VESTING.5.1ProjectElements,DevelopmentStandardsandImplementingApprovals.InaccordancewiththeDevelopmentAgreementStatute,DeveloperisvestedtotheDevelopmentRegulationsineffectontheVestingDate,whichextendstoCityofRentonordnancenumber5523.5.2VestingExceptions.DuringthetermofthisAgreement,theCityshallnotimposeontheProjectanymodifiedorneworadditionalDevelopmentRegulations,exceptanyfederalorstatestatutes,rules,regulations,administrativeinterpretationsorcourtdecisionsthataddregulatoryrequirementsontheCitythatitmustenforcethatarenotsubjecttoa“grandfather”or“safeharbor”clausethatwoulddelaytheCity’senforcementresponsibilitybeyondthelifeofthisAgreement.StormwaterregulationsarespecificallyexemptfromvestingtotheextentmandatedbythePhaseIINationalPollutionDischargeEliminationSystempermitapplicabletotheCityofRenton.5.3City’sReservedAuthority.InaccordancewiththeDevelopmentAgreementStatute,RCW36.70B.170(4),theCityreservestheauthoritytoimposenewordifferentDevelopmentRegulationstotheextentrequiredbyaseriousthreattopublichealthandsafety.6.GENERALPROVISIONS.6.1Authority;Severability.TheCityandDevelopereachrepresentandwarrantithastherespectivepowerandauthority,andisdulyauthorizedtoexecute,deliverandperformitsobligationsunderthisAgreement.ThePartiesintendthisAgreementtobeinterpretedtothefullextentauthorizedbylawasanexerciseoftheCity’sauthoritytoenterintosuchagreements,andthisAgreementshallbeconstruedtoreservetotheCityonlythatpolicepowerauthoritywhichisprohibitedbylawfrombeingsubjecttoamutualagreementQuendallTerminalsDevelopmentAgreementPage7 withconsideration.ThisAgreementshallbebindinguponandinuretothebenefitofthesuccessorsandassignsofDeveloperandtheCity.IfanyprovisionofthisAgreementisdeterminedtobeunenforceableorinvalidbyacourtoflaw,thenfi)thisAgreementshallthereafterbemodifiedtoimplementtheintentofthePartiestothemaximumextentallowableunderlaw,(ii)thePartiesagreetoseekdiligentlytomodifytheAgreementconsistentwiththecourtdecision,and(iii)neitherpartyshallundertakeanyactionsinconsistentwiththeintentofthisAgreementuntilthemodificationtothisAgreementhasbeencompleted.6.2Amendment;MinorModifications.AnyamendmenttothisAgreementmustbeapprovedbytheCityandDevelopersolongasitownsanyportionoftheQuendallPropertyorretainsanyresponsibilityforoff-sitemitigation,otherobligationsunderthisAgreement,orobligationspursuanttoanyRecordofDecisionoranyNRDsettlement.Notwithstandingtheforegoing,uponrequestofDeveloper,adesignatedCityofficialmayapproveadministrativeminormodificationstotheDevelopmentStandards,whichadministrativemodificationsshallnotbedeemedamendmentstothisAgreement.AdministrativeminormodificationsmeanthosechangestotheDevelopmentStandardsthatdonotmateriallyincreaseimpactsontransportationorutilitysystemsortheenvironment,takingintoaccountagreeduponmitigation,andthosemodificationswhichdonotmateriallyreducebuffersoropenspace.AnymodificationsofDevelopmentStandardsshallrequirethewrittenconsentofDeveloperandtheCity,includingadministrativeminormodificationsunderthissection.6.3Recording;NoThirdPartyBeneficiary.PursuanttotheDevelopmentAgreementStatute,RCW36.70B.190,thisAgreementoramemorandumthereofshallberecordedwiththeKingCountyRecorder’sOffice.ThisAgreementismadeandenteredintoforthesoleprotectionandbenefitoftheParties,theirsuccessorsandassigns.NootherpersonshallhaveanytightofactionbaseduponanyprovisionofthisAgreement.6.4Notices.Allcommunications,noticesanddemandsofanykindwhichapartyunderthisAgreementrequiresordesirestogivetoanyotherpartyshallbeinwritingandeither(I)deliveredpersonally(includingdeliverybyprofessionalcourierservices),(ii)sentbyfacsimiletransmissionwithanadditionalcopymailedfirstclass,or(iii)depositedintheU.S.mail,certifiedmailpostageprepaid,returnreceiptrequested,totheaddressessetforthwitheachsignature.Noticebyhanddeliveryorfacsimileshallbeeffectiveuponreceipt.Ifdepositedinthemail,noticeshallbedeemeddelivered48hoursafterdeposited.Anypartyatanytimebynoticetotheotherpartymaydesignateadifferentaddressorpersontowhichsuchnoticeorcommunicationshallbegiven.QuendallTerminalsDevelopmentAgreementPage8 IftotheCityofRenton:RentonCityHallAttn:MayorAttn:DevelopmentServicesDirector1055S.GradyWayRenton,WA98057IftoQuendallTerminals:QuendallTerminalsAttn:RobertCuginiP.O.Box359Renton,WA98057andtoi.H.Baxter&Co.Attn:GeorgiaBaxterP.O.Box5902SanMateo,CA94402-0902Withacopyto:CampbellMathewsonCenturyPacific,LLLP1201ThirdAvenue,Suite1680Seattle,WA98101-3029DavisWrightTremaineAttn:LynnManolopolous777108thAvenueNE,Suite2300Bellevue,Washington98004-5149CableHustonLLPAttn:JamesE.Benedict1001SWFifthAvenueSuite2000Portland,Oregon97204-1136QuendallTerminalsDevelopmentAgreementPage9 I.RyanDurkanHillis,Clark,Martin&PetersonP.S.999ThirdAvenue,Suite4600Seattle,WA981016.5ApplicableLawandVenue.ThisAgreementshallbegovernedbyandconstruedinaccordancewiththelawsoftheStateofWashington.AnyactionwithrespecttothisAgreementshallbebroughtinKingCountySuperiorCourt,Washington.6.6MultipleOriginals.ThisAgreementmaybeexecutedintwo(2)ormorefacsimileor.pdfcounterparts,eachofwhichshallbedeemedanoriginal,butallofwhichtogethershallconstituteoneinstrument.6.7Headings;RecitalsandAttachments.TheheadingsinthisAgreementareinsertedforreferenceonlyandshallnotbeconstruedtoexpand,limitorotherwisemodifythetermsandconditionsofthisAgreement.TherecitalstothisAgreementandExhibitsAareincorporatedinthisAgreementbythisreferenceasiffullysetforth.6.8DisputeResolution.6.8.1IfanydisputearisesoutofanyaspectofthisAgreement,thePartiesmustfirsttryingoodfaithtosettlethedisputethroughmediation.Thismediationmustcommencewithin60daysafteranypartytotheAgreementnotifiestheotherpartyrequestingmediationtoresolveadispute.6.8.2IfthePartiesatenotabletoresolvetheirdisputethroughmediation,theyagreetosubmitthematterforresolutionthroughbindingarbitration.ThearbitratorshallbemutuallychosenbybothParties.Innocasemayamediatorwhohasmediatedaclaimserveasthearbitratoronthesameclaim.IfthePartiescannotagreeonanarbitrator,eitherpartyorthePartiesjointlymayapplytothepresidingjudgeoftheKingCountySuperiorCourttoappointanarbitrator.ThearbitratorwillconsultwiththePartiesandestablishtherulesandproceduresforthearbitrationthat,inlightofthenatureofthematterunderdispute,willprovideanefficientandfairmeansloteachofthePartiestopresentitscase.Amongotherthings,thearbitratorwillestablishascheduleforcompletingthearbitrationandissuingadecision.ThedecisionofthearbitratorwillbefinalandmaybeenforcedbyanQuendallTerminalsDevelopmentAgreementPage10 actionbroughtinKingCountySuperiorCourt.Insuchanaction,theprevailingpartyisentitledtorecoverallcostsandexpenses,includingalllegalfees,incurredinthataction.6.8.3ThePartieswillbearthecostsofretainingamediatororanarbitratorequally.INWITNESSWHEREOF,thisAgreementhasbeenenteredintobytheCityandDevelopereffectiveonthelastdateofsignaturebelow.DATEDthisa5dayof________________,2017JointVentureknownasQUENDALLTERMINALSBy:__AltinoProperties,Inc.(,)Its:AuthorizedRepresentativeBy:RAfRobertCuginiIts:VicePresidentDat e:__________CITYO(ErITONBy:__________DenisLawMayorDate:_____ ________ATTEST:By:___ias9’SA.SethCit’llClerkQuendallTerminalsDevelopmentAgreementPage11 ACKNOWLEDGEMENTSSTATEOFicro])55:COUNTYOF)(i”JOnthis2Sdayofju,2016,beforeme,aNotaryPublicinandfortheStateofc?CountyofC-id--,personallyappearedcoci-,personallyknowntome(orprovedtomeonthebasisofsatisfactoryevidence)tobethepersonwhoexecutedthisinstrument,whohasproducedsufficientproofofhis/herpowerandauthoritytoexecuteandsigntheinstrumentinthenameofandonbehalfofQUENDALLTERMINALS,tobethefreeandvoluntaryactanddeedofsaidassociationfortheusesandpurposesmentionedintheinstrument.INWITNESSWHEREOF,Ihavehereuntosetmyhandandofficialsealthedayandyearfirstabovewritten.NOTA(PUBLICinndforthestateofivccS-r)rJNotary(print):1)?)i-A-j(LMyappointmentexpires:-°-f7QuendallTerminalsDevelopmentAgreementPage12 STATEOF.L’\()ss:COUNTY_______ __Onthis-Ldayot2017,beforeme,aNotaryPublicinandfortheStateofWashington,CountyofKing,persoñalIyappearedDenisLaw,Mayor,personallyknowntome(orprovedtomeonthebasisofsatisfactoryevidence)tobethepersonwhoexecutedthisinstrument,whohasproducedsufficientproofofhispowerandauthoritytoexecuteandsigntheinstrumentinthenameofandonbehalfofCITYOFRENTON,tobethefreeandvoluntaryactanddeedofsaidassociationfortheusesandpurposesmentionedintheinstrument.INWITNESSWHEREOF,Ihfirstabovewrittenic-isetmy,JiaDdandofficialsealthedayandyeargI2y>)_(print):appointmentexpires:QuendallTerminalsDevelopmentAgreementPage13 ListofExhibits:ExhibitA—LegalDescriptionofPropertyExhibitA-i-MapQuendallTerminalsDevelopmentAgreementPage14 ExhibitAStJRVEYOR’SMETESANDBOUNDSLEGALDESCRPIIONTHATPORTIONOFGOVERNMENTLOT5INSECTION29,TOWNSHIP24NORTH,RANGE5EAST,W.M.,ANDSHORELANDSSECONDCLASSADJOININGLYINGWESTERLYOfTHENORTHERNPACIFICRAILROADRIGHT-OF-WAYANDSOUTHERLYOFALINE,ISKINGCOUNTY,WASHINGTCN,DESCRIBEDASFOLLOWS:BEGINNINGATTHEQUARTERCORNERONTHESOUTHLINECFSAIDSECTION29;THENCENORTH89c58T361TWESTALONGTHESOUTHLINEOFSAIDLOT5,1,113.01FEETTOTHEWESTERLYLINEOfSAIDNORTHERNPACIFICRAILROADRIGHT-OF-WAY;THENCENORTH29°4454”EAST849.62FEETALONGSAIDRIGHT-OF-WAYLINETOAPOINTHEREINAFTERREFERREDTOASPOINTA;THENCECONTINUINGNORTH29°44’54”EAST200.01FEETTOTHETRUEPOINTOFBEGINNINGOfTHELINEHEREINDESCRIBED;THENCESOOTH56°28’50”WEST222.32FEETTOAPOINTWHICHBEARSNDPTH9c2456,tWEST30.02FEETFROMSAIDPOINTATHNNORh5924’D6”VESCEEINNERRDDRL±Nc’DLHOFSAIDLINEDESCRIPTION;ALSOTHATPORTIONOFSAIDGOVERNMENTLOT5LYINGSOUTHEASTERLYOFLAKEWASHINGTONBOULEVARD,WESTERLYOfSECONDARYSTATEHIGHWAYNUMBER2AANDNORTHWESTERLYOFThERIGHT-OF-WAYOFPUBLICSTATEHIGHWAYNUMBER2ASESTABLISHEDBYDEEDRECORDEDJANUARY15,961UNDERRECORDINGNO.5687408;ANDEXCEPTTHATPORTIONTHEREOFCONVEYEDTOCITYOFRENTON,AMUNICIPALCORPORAT:oNBYDEEDRECORDEDJUNE28,2008UNDERRECORDINGNC.20090619001179.CENTURYPACIFIC,LLL?DAKINA.BELL,PLSND.37546BREJOBND.2009050.0311/11/16BUSH,POE:&HITCEINGS,:sc.2009MINORAVENUEEASTSEATTLE,WA98102(206)323—414411/11/2016 SW1/4SECTION29,T24N,R5E,WMBUSHROED&HITCHINGSINC.____LANDSURVEYORS&CIVILENGINEERS2009MINORAVE.EAST(206)323-4144BRHSEATTLE,WashingtonDATE:71/71/1698102-3513JOBNO.:2009050.03300———?‘°3?0c”)——______J_N66Y2112NWTAXACCT.NO./107292405900203(INFEET)1inch=300ft//TRUEPOINT—OFBEGINNINGTAXACCT.NO292405—9001—04rr14::/TAXACCT.NO.-292405—9012—01///TAXACCT.NO.292405—9002—03ORDINARYHIGHWATERMARKN30’56’16EN3l’56’16E‘t84.30’DEEDEDPERAFN20080619001179£=0291i2R=1500.00L=57.25POINTAT18.8’ELEVAJ1ON._JiLIiIOi6SECTION29,T24N,45E5N884856wW1016.36’(SE80THST)VACN44ThSTREC.#7602260427III.iii‘‘PLATOFBARBEEMILLJJ]J_tJ”OL.246,PGS.25—39,.32.50’REC.NO.20080208000182‘N28’45’04”E/,18.10’ICORNEROFSEC.29114p1,713.05’963.31VACN44TJ-ISTGOV’TLOT1CENTURYPACIFIC,LLLP.LEGALDESCRIPTIONEXHIBITCITYOFRENTON,WASHINGTON