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HomeMy WebLinkAboutSurplus of City Owned Property Located w CITE' OF RENTON Office of the City Attorney Jesse Tanner, Mayor Lawrence J.Warren MEMORANDUM To: /ay Covington Sue Carlson From: Lawrence J. Warren, City Attorney Date: March 25, 1998 Subject: Acquisition of Williams-Hiatt Property-Sound Mazda Used Car lot By memo dated March 23, 1998, Tom Boyns forwarded to me certain information about a deal the City has worked out to purchase the Williams-Hiatt property. This memo serves two purposes: (1) to disclose a conflict of interest of which the City is already aware, but which I wish to highlight; and (2) to suggest that the City consider a different approach. This office has represented Thomas Williams concerning this property for a number of years. Therefore, we are representing both sides of the transaction. This represents a clear conflict of interest and this office must disqualify itself unless both sides wish to waive the conflict of interest. Dan Kellogg has talked to Mr. Williams and he has chosen not to seek other counsel, despite our advice, and he has therefore waived the conflict of interest. I would like a clear understanding from the City that we are proceeding at the City's direction, despite this conflict of interest. On the second issue, I have been told that the City has agreed to take an option to purchase this property after the 3 years of the current lease. Apparently the lease terminates on February 28, 2001. However, I have been led to believe that there are two 3 year options to extend that lease, so the option period might be 9 years rather than 3 years. Perhaps Toni Boyns could verify this with Mr. Williams. The nominal price has been set at $200,000.00 but would be established by independent appraisal at the time the option is exercised, with the City paying $2,000.00 per year as option payments. I have some concern that the City will be binding itself to a deal that may be somewhat more dear than the City had planned. We already know that real estate prices in downtown Renton are rising rapidly, partly in response to the piazza, the Dally project, and perhaps even the Safeway reconstruction. Three years from now the property might be substantially higher in value. I would like the City to consider three other approaches before settling on the option deal. Post Office Box 626 - 1�0!�0 S. 2nd Street - Renton, Washington 98057 - (425)255-8678 «)Thiv nin—-t-,, ,n-.-...1n 1 m Vr ;,i 101-nn , � 03/25/98 «✓ .,�„ Page 2 1. Condemn the property outright. We need to be sure that we have a clear public purpose before we do so; 2. Prevail upon Mr. Williams to sell the property to us now. I know that Rich Snyder said that they might be abandoning this lease and perhaps Sue could contact him to determine if that is still in the works or not. I doubt it since a new lease was just recently signed. If we don't want to condemn the property, then we will probably have to pay Mr. Williams somewhat of a premium price to get him to agree to this arrangement; or 3. Pay Mr. Williams the purchase price and allow him to keep the lease payments over a defined period of time somewhat depreciating the price due to the lease payments. The real question I have is, how quickly does the City need the property? Also, how much of a risk does the City wish to take that the price is going to rapidly increase? If we need to meet to discuss the various options set forth in this memo, please let me know. With things changing so rapidly in downtown Renton we need to carefully analyze our approach to make sure that we tie up this property but don't pay too high of a price. Lawrence J. Warren LJW:as. cc: Mayor Jesse Tanner Tom Boyns A8:139.53. CIT" OF RENTON `i Office of the City Attorney Jesse Tanner,Mayor Lawrence J.Warren MEMORANDUM To: Tom Boyns J From: Lawrence J. Warren, City Attorney Date: May 11, 1998 Subject: Acquisition of Williams-Hiatt Property- Sound Mazda Used Car Lot Just a memo to remind you that you were going to contact Mr. Williams and ask him to authorize Dan Kellogg to let me look at his lease file with the used car dealership. As well, you were going to ask him if there was any chance that he would be willing to accept a cash purchase price with the understanding that we would not terminate the tenant during the current term of the lease (before any option period kicked in). Please let me know if this presents any problem. Lawrence J. Warren LJW:as. cc: Jay Covington Sue Carlson A8:140.50. Post Office Box 626 - 19Q S. 2nd Street - Renton, Washington 98057 - (425)255-8678 This paper contains 50%recycled material,20%post consumer - �SPY Off' s ` RECO )Py DOCUMENT Atter recording return to: ging County Recorder's Office WARREN, BARBER, DEAN & FONTES, P.S 19991214001441 P.O. BOX 626 PAGE 001 OF 002 RENTON, WASHINGTON 98057-0626 KING4COUNTY15WA9 PACIFIC NW TIT WO 9.00 E1726765 12/14/1999 15:34 KING COUNTY, WA SALE$4 $405,0102.0000 5,000.00 P " I OFrwf-o-q TT 7,7 T - DOCUMENT TITLE: Statuton- Warranty Deed REFERENCE NUMBER OF RELATED DOCUMENT: NIA DLE(3 `? 7 ^r GRANTOR(S): Hiatt, Gladys. and Williams, Thomas H., ADDITIONAL GRANTOR(S) ON PAGE: 1 0��,` GRANTEE(S): City of Renton ADDITIONAL GRANTEE(S) ON PAGE: 1 ABBREVIATED LEGAL DESCRIPTION: Ptn. Lots 9, 10 & 11, Blk. 2, Motorline Add. To Renton, Vol. 9, pg. 50 ADDITIONAL LEGAL DESCRIPTION ON PAGE(S): 1 ASSESSOR'S TAX PARCEL NUMBER(S): 5696000090 STATUTORY WARRANTY DEED Glades Hiatt. as her separate estate. and Thomas H. Williams, as his separate estate. for and in consideration of Ten Dollars (S 10) and other good and valuable consideration in hand paid and under threat of eminent domain. convey and warrant to Cite of Renton. a Washinaton municipal corporation, the following described real estate. situated in King County. State of Washington: Lots 9, 10 & 11, Block 2, .1,vIotorline Addition to Renton, according to the plat thereof recorded in Volume 9 of Plats, page 50, in King County, Washington; EXCEPT the east 6 feet of Lots 10 and 11 as conveyed to the City of Renton for street purposes by Deeds recorded under Recording Numbers 910191 and 910190. SUBJECT TO: Easement and the terms and conditions referenced therein granted to Puget Sound Power & Light Company for an underground electric distribution system affecting the east 12 feet of the west 17 feet of the north 13 feet of Lot 9, recorded October 20, 1972, under Recording Number 7210200526 STATUTORY WARRANTY DEED - 1 - POP r Not R Dated this _t�j' day of Gladys Hiatt Thomas H. Williams STATE OF WASHI�iGTON ) ss COUNTY OF KING ) I certify that I know or have satisfacton, evidence that Gladvs Hiatt and Thomas H. Williams are the persons who appeared before me, and who signed this instrument and acknowledged it to be their free and voluntary- act for the uses and purposes mentioned in the instrument. DATED this day of vmiY Notary- Public STEPHANIE RARV in and for the State of Washington. Lkly appointment expires: c/ L' STATUTORY WARRANTY DEED - 2 After recording returartti: WARREN BARBER-.MAN & FONTES P.S. l � of ast P.0:iyUX 6:6 :� x + � � t RI \TUN. H'ASHiNG VON 980.57.-1 26 i ctFlc irk+:TirA,WP 0. say ."WONV rocs tai or sats f)UCUh1F.N'C 'I I CI.E: ' Statut"try Warranty Deed RFFFRENC'E NUMBER OF RFi.A'I'T:D DOC'UM NT: N/A (;RANTOR(S): Hiatt.CSI:a�yti,and Williams,Thomas It., G :�nl)I'TI(.)NA1.CiRAItiT()Ki5)UN PAGE: I .-�� � GRANTFF(Sr City ol'Rcnton AI),Di,ri(7N,Ai-:( RANTFE(S)Oi`,.1'A(iE: 'ADBREVIATi ()-LE.GAL DFSCRIP'TION: Pin. Lots.9. 10& 11,111k. 2, Motorlinc Add. To Renton, Vol. 00g.50 4 ADpi'I"i�-)N L I EGAI. DESCRIPTION ON PAGF.(S): l ASSESSOR'S TAX PARCEL NUMB ER(S): 56960()0(190 STATUTORY WARRANTY DEED 61ad,s Iiiatt.as her separate estate. and'rhomas 14.Williams.as his separate estate.For and in consideration offer, Uollers(S 10)acid other good and valuable consideration in hand paid W and tinder threut of enlinent dornlin.convey anti warrajit to City of Renton.a Washington nZunit:ipai corporation. the folluwing described real.estate,situated in King County. State of Lots 9. 10. 11. Block 2.Motorline Addition to Renton,according to the plat Ih�truf r�cordc l in Volume 4 of Pias,page 50,in King County.Washington: E,\C'ia'jIltt:hast 0 fi.et of lots 10 and I 1 as cunvrned to the City of Rentc:n for street purpuscs bN lheds recurded under Recording Numbers 910191 and 910190. St:f31L'C"! 1 U: Uasernent and t;)e terms acid co:tdit:ons referenced thereingranted to P wt Sound I'o%wr&Light Cosngaay tier an underground electric distribtuion system affecting (ill:cast 12 fret o r the west 17 feel of the north 13 feet of Lot 9,recorded October 20. 1972,vndgl-Rccording,Numbvr 7210200526 STATt.fORY u'MtRAN;t.Y IX--ED. 1 7,001 WWI. 104-1 4 TZb6Rb£909 xvd bI :0T 6661/09/ZT Dated this'li day ut''.Lk�[alL#44 G'.ays htiu t — Thomas H.w'ill�ams $TATF OF WASHINGTON tis t' OUN TY OF KING � I ccrtii'r that I kukm or have ,utistaciory o idence:hat Gludys I Iiatt and Thomas H. Williams are the per,uns vwho appeared bcliut:me, and%vhu signed Chi., imi runtcttt and ;a:kntttcltal 0 it it, h,,- their li•cr and iulttettary act for thr u.s6 :and p�llplscs i,wntiutxd iu dle • ithlruttlunt. DATED this' duv of kuLvLb-�J—v. .. .L a Notary Public __-T�QHANIF in and iur the State of Washin9ttt'I. N %1y appointment expire: rn s s• 7 f001z MAI ZCV_7 TZbb£tiE9�Z X�3 ST :Ol 66Fi [/OZ!ZT PROPERTY ACQUISITION OR SALE CHECKLIST PERMANENT FILE DOCUMENTATION FOR: CITY CLERK DIVISION DATE: Q /fl6 STAFF NAME& EXTENSION NUMBER: City is buyer or seller? Number of acres or S.F. If City is seller, list approx. date of original acquisition by City: (A— Property address &0 ?j S � Sfiriei Nearest cross streets: C'ty� Date of Council/Executive approval: Purpose of acquisition or sale: � �+Dl In V(C��� ,�v Other file numbers, document names or key words for cross- refe ncin � �Cc K.C. Parcel I.D#(s) Documents to forward to City Clerk Divn. check off items• or mark N/A Document Original Copy Purchase and Sale Agreement Addendum to Purchase & Sale Agreement Owner's Title Policy _x Correspondence for Permanent File/Minutes Closing Statement Recorded Deed (orig. only) Other Other DOCUMENTS MAY BE SUBMITTED TO CC OFFICE IN PHASES, AS NECESSARY. CHECKLIST ORIGINAL MUST BE COMPLETED AND SUBMITTED TO CC OFFICE BY COMPLETION OF TRANSACTION. ------------------------------------------------------------------------------------------------------------- For City Clerk Division Use Add to file: Copy of Minutes, Ordinances, &Resolutions applicable Index cross references as necessary FILE NO. AC- • i POLICY OF TITLE INSURANCE ISSUED BY SUBJECT TO THE EXCLUSIONS FROM COVERAGE, THE EXCEPTIONS FROM COVERAGE CONTAINED IN SCHEDULE B AND THE CONDITIONS AND STIPULATIONS, PACIFIC NORTHWEST TITLE INSURANCE COMPANY, INC., a Washington corporation, herein called the Company, insures, as of Date of Policy shown in Schedule A, against loss or damage, not exceeding the Amount of Insurance stated in Schedule A, sustained or incurred by the insured by reason of: 1. Title to the estate or interest described in Schedule A being vested other than as stated therein; 2. Any defect in or lien or encumbrance on the title; 3. Unmarketability of the title; 4. Lack of a right of access to and from the land. The Company will also pay the costs, attorneys' fees and expenses incurred in defense of the title, as insured, but only to the extent provided in the Conditions and Stipulations. IN WITNESS WHEREOF, Pacific Northwest Title Insurance Company, Inc. has caused this policy to be signed and sealed by its duly authorized officers as of the Date of Policy shown in Schedule A. ♦��� Pre de PACIFIC NORTHWEST TITLE Count 9 y: Insurance Company, Inc. �%ILE IN Authorized Signatory • GORPORAIre c W SEALr Company ..,. �.. 4:JEST TITLE 1926 r'.�?� J^,.} �wgSRING,G� a'Ltla, Wash,'. ton City,State EXCLUSIONS FROM COVERAGE The following matters are expressly excluded from the coverage of this policy and the Company will not pay loss or damage,costs, attorneys'fees or expenses which arise by reason of: 1. (a) Any law, ordinance or governmental regulation (including but not limited to building and zoning laws, ordinances, or regulations) restricting, regulating, prohibiting or relating to (i)the occupancy, use, or enjoyment of the land; (ii) the character, dimensions or location of any improvement now or hereafter erected on the land;(iii)a separation in ownership or a change in the dimensions or area of the land or any parcel of which the land is or was a part;or(iv)environmental protection,or the effect of any violation of these laws,ordinances or governmental regulations,except to the extent that a notice of the enforcement thereof or a notice of a defect, lien or encumbrance resulting from a violation or alleged violation affecting the land has been recorded in the public records at Date of Policy. (b) Any governmental police power not excluded by(a)above,except to the extent that a notice of the exercise thereof or a notice of a defect, lien or encumbrance resulting from a violation or alleged violation affecting the land has been recorded in the public records at Date of Policy. 2. Rights of eminent domain unless notice of the exercise thereof has been recorded in the public records at Date of Policy,but " not excluding from coverage any taking which has occurred prior to Date of Policy which would be binding on the rights of a purchaser for value without knowledge. 3. Defects, liens,encumbrances,adverse claims or other matters: (a) created,suffered,assumed or agreed to by the insured claimant; (b) not known to the Company,not recorded in the public records at Date of Policy, but known to the insured claimant and not disclosed in writing to the Company by the insured claimant prior to the date the insured claimant became an insured under this policy; (c) resulting in no loss or damage to the insured claimant; (d) attaching or created subsequent to Date of Policy;or (e) resulting in loss or damage which would not have been sustained if the insured claimant had paid value for the estate or interest insured by this policy. 0-1093- 78429 ALTA OWNER'S POLICY—10-17-92 Standard Coverage PACIFIC NORTHWEST TITLE INSURANCE COMPANY, INC. A.L.T.A. OWNER'S POLICY SCHEDULE A Order No. : 395416 Policy No. : 1093-78429 Policy Date: December 14, 1999 Policy Amount: $400, 000.00 at 16:39 p.m. 1. Name of Insured: CITY OF RENTON, a Washington municipal corporation 2 . The estate or interest in the land described herein and which is covered by this Policy is: FEE SIMPLE 3. The estate or interest referred to herein is at date of Policy vested in: CITY OF RENTON, a Washington municipal corporation 4 . The land referred to in this Policy is described as follows: Lots 9, 10 and 11, Block 2, Motorline Addition to Renton, according to the plat thereof recorded in Volume 9 of Plats, page 50, in King County, Washington; EXCEPT the east 6 feet of Lots 10 and 11 as conveyed to the City of Renton for street purposes by Deeds recorded under Recording Numbers 910191 and 910190. Standard Coverage PACIFIC NORTHWEST TITLE INSURANCE COMPANY, INC. A.L.T.A. OWNER'S POLICY SCHEDULE B Policy No. : 1093-78429 This policy does not insure against loss or damage by reason of the following: GENERAL EXCEPTIONS: 1. Rights or claims of parties in possession not shown by the public records. 2 . Easements, or claims of easements, not shown by the public record. 3 . Encroachments, overlaps, boundary line disputes, or other matters which would be disclosed by an accurate survey or inspection of the premises. 4. Any lien, or right to a lien, for services, labor or material heretofore or hereafter furnished, imposed by law and not shown by the public records, or liens under the Workmen's Compensation Act not shown by the public records. 5. Any title or rights asserted by anyone including but not limited to persons corporations, governments or other entities, to tide lands, or lands comprising the shores or bottoms of navigable rivers, lakes, bays, ocean or sound, or lands beyond the line of the harbor lines as established or changed by the United States Government. 6. (a) Unpatented mining claims; (b) reservations or exceptions in patents or in Acts authorizing the issuance thereof; (c) water rights, claims or title to water. 7. Taxes or special assessments which are not shown as existing liens by the public records. 8. Any service, installation, connection, maintenance, capacity, or construction charges for sewer, water, electricity or garbage removal. 9. Indian tribal codes or regulations, Indian treaty or aboriginal rights, including, but not limited to, easements or equitable servitudes. SPECIAL EXCEPTIONS: As on Schedule B, attached. Policy No. : 1093-78429 SCHEDULE B Page 2 SPECIAL EXCEPTIONS: 1. EASEMENT AND THE TERMS AND CONDITIONS REFERENCED THEREIN, INCLUDING BUT NOT LIMITED TO, THE FOLLOWING: GRANTEE: Puget Sound Power & Light Company, a Washington corporation PURPOSE: An underground electric distribution system AREA AFFECTED: East 12 feet of the west 17 feet of the north 13 feet of Lot 9 DATED: April _, 1972 RECORDED: October 20, 1972 RECORDING NUMBER: 7210200526 2 . Recorded Leaseholds and unrecorded leaseholds, if any; rights of vendors and holders of security interests on personal property installed upon said property and rights of tenants to remove trade fixtures at the expiration of the term. END OF SCHEDULE B BC/slm l � 3 0210 g�25� 8 . N D • o,�s� 2 cfl 9 !z a °c�1 f�coq ( � o i 0200 Zo'000 r fQ Fir` 20�� Jf oc1). 3Z-12 --- s ..C? J T— ................---� J c46e zo �O 4 h 9 iz ; o n> � ioa h f it 00 o z 0 0 7s V u°7 ! b • o pp v 7 ° Li! 1Z a � 2�5 Z1Z_ h . 5 y �° e3°•959%3h = 4 o It o,O`' °0 bd Ck 1,`75 �� °9 c N ° 25 7 � - o� PACIFIC NORTH`VEST TITLE COMPANY 1V Order No. IMPORTANT: This is not a Plat of Survey. It is furnished as a convenience to locate the land indicated hereon with reference to streets and other land. No liability is assumed by reason of reliance hereon. �(continued NDITIONS AND STIPULATIONS Cf Policy and concluded from reverse side of Policy Face) fees and expenses incurred by the insured claimant which were 12. PAYMENT OF LOSS. by the Company up to the time of payment and which the Company is A to pay;or (a) No payment shall be made without producing this policy for endorsement (ii) to pay or otherwise settle with the insured claimant the loss or damage of the payment unless the policy has been lost or destroyed,in which case proof of loss or destruction shall be furnished to the satisfaction of the Company. vided for under this policy,together with any costs,attorneys'fees and expenses yyW T (b)When liability and the extent of loss or damage has been definitely fixed in curred by the insured claimant which were authorized by the Company up to the accordance with these Conditions and Stipulations, the loss or damage shall be time of payment and which the Company is obligated to pay, payable within 30 days thereafter. Upon the exercise by the Company of either of the options provided for in paragraphs b(i) or(ii), the Company's obligations to the insured under this policy 13. SUBROGATION UPON PAYMENT OR SETTLEMENT. for the claimed loss or damage,other than the payments required to be made,shall terminate,including any liability or obligation to defend,prosecute or continue any (a) The Company's Right of Subrogation. litigation. Whenever the Company shall have settled and paid a claim under this policy, all right of subrogation shall vest in the Company unaffected by any act of the 7. DETERMINATION,EXTENT OF LIABILITY AND COINSURANCE. insured claimant. This policy is a contract of indemnity against actual monetary loss or damage The Company shall be subrogated to and be entitled to all rights and remedies sustained or incurred by the insured claimant who has suffered loss or damage by which the insured claimant would have had against any person or property in respect reason of matters insured against by this policy and only to the extent herein to the claim had this policy not been issued. If requested by the Company, the described. insured claimant shall transfer to the Company all rights and remedies against any person or property necessary in order to perfect this right of subrogation.The insured a The liability of the Company under this policy shall not exceed the least of: claimant shall permit the Company to sue,compromise or settle in the name of the (i) the Amount of Insurance stated in Schedule A;or, insured claimant and to use the name of the insured claimant in any transaction or (ii) the difference between the value of the insured estate or interest as litigation involving these rights or remedies. insured and the value of the insured estate or interest subject to the defect lien or If a payment on account of a claim does not fully cover the loss of the insured encumbrance insured against by this policy. claimant, the Company shall be subrogated to these rights and remedies of the (b) In the event the Amount of Insurance stated in Schedule A at the Date of Proportion which the Company's payment bears to the whole amount of the loss. Policy is less than 80 percent of the value of the insured estate or interest or if If loss should result from any act of the insured claimant, as stated above, subsequent to the Date of Policy an improvement is erected on the land which that act shall not void this policy,but the Company,in that event,shall be required increases the value of the insured estate or interest by at least 20 percent over the to pay only that part of any losses insured against by this policy which shall exceed Amount of Insurance stated Schedule A,then this Policy is subject to the following: the amount,if any,lost to the Company by reason of the impairment by the insured (i) where no subsequent improvement has been made, as to any partial claimant of the Company's right of subrogation. loss,the Company shall only pay the loss pro rata in the proportion that the amount (b) The Company's Rights Against Non-insured Obligors. of insurance at Date of Policy bears to the total value of the insured estate or interest at Date of Policy;or The Company's right of subrogation against non-insured obligors shall exist and shall include, without limitation, the rights of the insured to indemnities, (ii) where a subsequent improvement has been made, as to any partial guaranties, other policies of insurance or bonds, notwithstanding any terms or loss,the Company shall only pay the loss pro rata in the proportion that 120 percent conditions contained in those instruments which provide for subrogation rights by of the Amount of Insurance stated in Schedule A bears to the sum of the Amount of reason of this policy. Insurance stated in Schedule A and the amount expended for the improvement. The provisions of this paragraph shall not apply to costs,attorneys'fees and 14. ARBITRATION. expenses for which the Company is liable under this policy,and shall only apply to Unless prohibited by applicable law, either the Company or the insured may that portion of any loss which exceeds,in the aggregate,10 percent of the Amount demand arbitration pursuant to the Title Insurance Arbitration Rules of the American of Insurance stated in Schedule A. Arbitration Association.Arbitrable matters may include, but are not limited to,any (c) The Company will pay only those costs, attorneys' fees and expenses controversy or claim between the Company and the insured arising out of or relating ncurin accordance with Section 4 of these Conditions and Stipulations. to this policy, any service of the Company in connection with its issuance or the breach of a policy provision or other obligation. All arbitrable matters when the 8. APPORTIONMENT. Amount of Insurance is$1,000,000 or less shall be arbitrated at the option of either the Company or the insured.All arbitrable matters when the Amount of Insurance is If the land described in Schedule A consists of two or more parcels which are in excess of$1,000,000 shall be arbitrated only when agreed to by both the Company not used as a single site, and a loss is established affecting one or more of the and the insured.Arbitration pursuant to this policy and under the Rules in effect on parcels but not all,the loss shall be computed and settled on a pro rata basis as if the date the demand for arbitration is made or, at the option of the insured, the the amount of insurance under this policy was divided pro rata as to the value on improvements Rules in effect at Date of Policy shall s binding upon the parties.The award may Date of Policy of each separate parcel to the whole,exclusive of any P include attorneys' fees only if the laws of the state in which the land is located made subsequent to Date of Policy, unless a liability or value has otherwise been permit a court to award attorneys' fees to a prevailing agreed upon as to each parcel by the Company and the insured at the time of the y P g party. Judgment upon the issuance of this policy and shown by an express statement orb an endorsement award rendered by the Arbitrator(s)may be entered in any court having jurisdiction attached to this policy. y thereof. The law of the situs of the land shall apply to an arbitration under the Title 9. LIMITATION OF LIABILITY. Insurance Arbitration Rules. (a) If the Company establishes the title,or removes the alleged defect,lien or A copy of the Rules may be obtained from the Company upon request. encumbrance, or cures the lack of a right of access to or from the land, or cures the claim of unmarketability of title,all as insured,in a reasonably diligent manner 15. LIABILITY LIMITED TO THIS POLICY:POLICY ENTIRE CONTRACT. by any method,including litigation and the completion of any appeals therefrom,it (a) This policy together with all endorsements, if any,attached hereto by the shall have fully performed its obligations with respect to that matter and shall not Company is the entire policy and contract between the insured and the Company. be liable for any loss or damage caused thereby. In interpreting any provision of this policy,this policy shall be construed as a whole. (b) In the event of any litigation, including litigation by the Company or with (b) Any claim of loss or damage, whether or not based on negligence, and the Company's consent, the Company shall have no liability for loss or damage which arises out of the status of the title to the estate or interest covered hereby or until there has been a final determination by a court of competent jurisdiction,and by any action asserting such claim,shall be restricted to this policy. disposition of all appeals therefrom,adverse to the title as insured. (c) No amendment of or endorsement to this policy can be made except by a (c) The Company shall not be liable for loss or damage to any insured for writing endorsed hereon or attached hereto signed by either the President, a Vice liability voluntarily assumed by the insured in settling any claim or suit without the President,the Secretary,an Assistant Secretary,or validating officer or authorized prior written consent of the Company. signatory of the Company. 10. REDUCTION OF INSURANCE:REDUCTION OR TERMINATION OF 16. SEVERABILITY. LIABILITY. In the event any Provision of this policy is held invalid or unenforceable under All payments under this policy, except payments made for costs, attorneys' applicable law, the policy shall be deemed not to include that provision and all fees and expenses,shall reduce the amount of the insurance pro tanto. other provisions shall remain in full force and effect. 11. LIABILITY NONCUMULATIVE. 17. NOTICES,WHERE SENT. It is expressly understood that the amount of insurance under this policy shall All notices required to be given the Company and any statement in writing be reduced by any amount the Company may pay under any policy insuring a required to be furnished the Company shall include the number of this policy and mortgage to which exception is taken in Schedule B or to which the insured has shall be addressed to the Company at 215 Columbia Street, Seattle, Washington agreed, assumed, or taken subject, or which is hereafter executed by an insured 98104-1511. and which is a charge or lien on the estate or interest described or referred to in Schedule A,and the amount so paid shall be deemed a payment under this policy to the insured owner. ALTA OWNER'S POLICY—10-17-92 July 12, 1999 *000, Renton City Council Minutes Nwo Page 251 Ordinance#4784 An ordinance was read amending Section 3-4-3.13 of Chapter 4,Municipal Municipal Court: Judge Pro Court,of Title III(Departments)of City Code by increasing the amount of Tem Compensation compensation for Pro Tem Judges. MOVED BY EDWARDS, SECONDED BY CLAWSON, COUNCIL ADOPT THE ORDINANCE AS READ. ROLL CALL: ALL AYES. CARRIED. Ordinance#4785 An ordinance was read amending Title VI(Police Regulations)of City Code by Police: Bicycle Helmet adding Chapter 26,entitled"Bicycle Helmets." MOVED BY EDWARDS, Ordinance SECONDED BY CLAWSON, COUNCIL ADOPT THE ORDINANCE AS READ. ROLL CALL: ALL AYES. CARRIED. Ordinance#4786 An ordinance was read amending Title IV(Development Regulations)of City Planning: Employment Area— Code by adding uses in the Light Industrial,Medium Industrial,Heavy Valley Zoning Code Changes Industrial,Commercial Office and Commercial Arterial zones, consolidating duplicate listed uses on the Zoning Use tables, and clarifying procedures and specific use conditions in the RM-H,R-14,IL, IM, IH, CC, CN,CS, CA, CD, CO and COR zones. MOVED BY EDWARDS, SECONDED BY KEOLKER- WHEELER,COUNCIL ADOPT THE ORDINANCE AS READ. ROLL CALL: ALL AYES. CARRIED. Ordinance#4787 An ordinance was read authorizing the acquisition of certain property and Legal: S 2nd St Condemnation property rights by eminent domain and providing for the payment thereof, (Burnett&Logan), authorizing the City Attorney to prepare a petition for condemnation in the Williams/Hiatt and Jasper Superior Court in and for the County of King and for the prosecution thereof for the acquisition of such property and property rights for the purpose of • public parking(Williams/Hiatt and Jasper parcels, located on South 2nd Street between Burnett and Logan Avenues South). MOVED BY EDWARDS, SECONDED BY CLAWSON, COUNCIL ADOPT THE ORDINANCE AS READ. ROLL CALL: ALL AYES. CARRIED. NEW BUSINESS Noting that this issue was discussed during Committee of the Whole earlier in Human Services: "Christmas the evening, it was MOVED BY NELSON, SECONDED BY CORMAN, in April"Program COUNCIL DIRECT THE ADMINISTRATION TO PARTNER WITH THE "CHRISTMAS IN APRIL"ORGANIZERS TO DEVELOP A RENTON PROGRAM FOR NEXT YEAR. CARRIED. AUDIENCE COMMENT Ralph Evans, 3306 NE 11th Pl.,Renton, 98056,reported that the mooring raft Citizen Comment: Evans— near the canoe launch at Gene Coulon Memorial Beach Park has been Coulon Park Boat Mooring damaged, and is off-limits to the public until it can be surveyed and repaired. Raft Unavailability Noting that this raft normally receives much use by the Renton Sailing Club,he felt that since the raft was damaged during the winter, it should have been repaired and made ready for the heavy spring and summer use. Mr. Evans said he was told that the Sailing Club's classes for May and June were cancelled, and it was still unknown whether classes will be held this month. Emphasizing that this quality program is open to everyone,regardless of age, size or athletic ability,he urged the City to take all necessary steps to see that the raft is repaired as quickly as possible. Council President Parker explained that the City could not accept the repairs made to the raft by Sailing Club members because of liability issues and the fact that the raft is used by the general public. Unlike Mr. Evans, Mr. Parker understood that no classes offered by the Sailing Club via the City's Community Services Department have been cancelled this year. He concluded that the Administration is already working with the Sailing Club on this matter. Citizen Comment: Campen— Mike Campen,4902 Talbot Rd. S., Renton, 98055, thanked Council for its Campen Springs Site Approval decision earlier this evening regarding the Campen Springs development. He ' T January 11, 1999 srr' Renton City Council Minutes 140( Page 19 Committee. Rezone: SW 16th St(900 Hearing Examiner recommended approval of the request from Martin Smith Block),Martin Smith Real Real Estate Services to rezone a 2.9 acre parcel in the 900 block of SW 16th St. Estate Services,R-98-131 from Medium Industrial (IM)to Commercial Office (CO), R-98-131. Council concur. (See page 21 for ordinance.) Plat: Monterey Heights Hearing Examiner recommended approval, with conditions,of the Monterey Preliminary,Monterey&NE Heights Preliminary Plat; 11 single family lots on 3.13 acres located on 12th (PP-98-144) Monterey Ave.NE between NE 12th and 14th Streets (PP-98-144). Council concur. HR&RM: 1999 Healthcare Human Resources&Risk Management Department recommended Plan Changes modifications to the City's healthcare plan, effective February 1, 1999,as proposed by the Health Benefits Task Force. In addition to general plan language amendments, the changes also affect: chiropractic services; medically-accepted transplants; home health,hospice and skilled nursing care; congenital deformities and mastectomies;prescription drugs; and coverage of routine wellness e,. ms. Refer tc Finance Committee. Legal: S 2nd Street Property Legal Department requested authorization to commence condemnation Condemnations (Jasper& proceedings for the Williams/Hiatt and Jasper parcels, located on the south side Williams/Hiatt Parcels) of S 2nd. St.between Burnett and Logan Avenues South. The properties will G , be used for parking for downtown businesses and the piazza. Refer to Finance Committee. Vacation: SW Harris PI (Regis Technical Services Division reported that the petitioner for the vacation of a et al.,VAC-97-002) section of SW Harris Pl. between Rainier Ave. S. and SW Sunset Blvd.has met all conditions of the vacation approval,and thus recommended approval of the required ordinance. Council concur. (See page 21 for ordinance.) MOVED BY PARKER, SECONDED BY EDWARDS, COUNCIL APPROVE THE CONSENT AGENDA AS PRESENTED. CARRIED. Responding to Councilmember Keolker-Wheeler,Mayor Tanner said that the property owners are not expected to contest the condemnation,but the leaseholder may have objections. City Attorney Warren added that he recommends condemnation proceedings to protect the City from incurring additional damages when the current tenant is displaced. CORRESPONDENCE Correspondence was read from Ronald Fitzgerald,regarding the Kirkland Pl. Citizen Comment: Fitzgerald- street vacation,approved by Council last March. Mr.Fitzgerald requested that Kirkland Pl. Street Vacation, the City waive any compensation for this property in light of the dedication of VAC-97-007 Kirkland Court's Tract A to Renton. MOVED BY EDWARDS, SECONDED BY SCHLITZER, COUNCIL REFER THIS MATTER TO THE TRANSPORTATION COMMITTEE. CARRIED. OLD BUSINESS Council President Parker presented a report recommending that Council Committee of the Whole authorize the following issues as the City of Renton's 1999 legislative Council: 1999 Council priorities: Legislative Priorities 1. Endangered Species Act(ESA): Support legislation that involves cities at all levels of the ESA decision-making process. Direct funding to projects which are consistent with best scientific knowledge and requirements for ongoing evaluation to ensure confidence that the salmon runs are recovering and that economic development is considered in such recovery efforts. 2. State and Local Transportation Funding: Recognize the need for local control and sufficient revenue to adequately fund both system maintenance CITY OF RENTON COUNCIL AGENDA BILL SUBMITTING DATA: I FOR AGENDA OF January 11, 1999 DepMv/Board... Executive/Legal Staff Contact..... Lawrence J. Warren I AGENDA STATUS: er SUBJECT: Condemnation of Wilhams/Htatt and Jas arcels I Consent......... X p p I Public Hearing.. south side of South 2nd Street from Burnett I Correspondence.. Avenue South to Logan Avenue South. I Ordinance....... Resolution...... Old Business.... EXHIBITS: I New Business.... Ordinance authorizing condemnation. I Study Session... Other........... I RECOMMENDED ACTION: I APPROVALS: Legal Dept......X Refer to Finance Committee. I Finance Dept.... Other........... ILI FISCAL IMPACT: Expenditure Required... $350,000 Transfer/Amendment.. Amount Bud eted........ $350000 Revenue Generated.. F[parking F ACTION: inistration recommends that the City purchase the Williams/Hiatt and Jasper parcels that is the ion of the Mazda used car lot on South 2nd (see attached sketch). These parcels are necessary for owntown businesses and the Plaza. If the City does not condemn the property it would take the property subject to the lease or the used car lot which, according to its terms, would not finally terminate until the year 2007, long past the City's anticipated need for this property. Staff recommends referral to the Finance Committee for review of an ordinance authorizing this condemnation(draft ordinance attached). .A endadoc.31 CITY OF RENTON, WASHINGTON ORDINANCE NO. AN ORDINANCE OF THE CITY OF RENTON, WASHINGTON, AUTHORIZING THE ACQUISITION OF CERTAIN PROPERTY AND PROPERTY RIGHTS BY EMINENT DOMAIN AND PROVIDING FOR THE PAYMENT THEREOF; AUTHORIZING THE CITY ATTORNEY TO PREPARE A PETITION FOR CONDEMNATION IN THE SUPERIOR COURT IN AND FOR THE COUNTY OF KING AND FOR THE PROSECUTION THEREOF FOR THE ACQUISITION OF SUCH PROPERTY AND PROPERTY RIGHTS FOR THE PURPOSE OF PUBLIC PARKING (WILLIAMS/HIATT AND JASPER PARCELS). THE CITY COUNCIL OF THE CITY OF RENTON, WASHINGTON DO ORDAIN AS FOLLOWS: SECTION I. The City Council finds acquisition of the following described property and property rights is necessary and for a public purpose and use, i.e. parking. The properties to be acquired are legally described as: Lots 8, 9, 10, and 11, Block 2, Motor Line Addition to Renton according to the Plat thereof recorded in Volume 9 of Plats, Page 50, records of King County, Washington. All situate in Section 18, Township 23 North, Range 5 East, W.M. The City of Renton is authorized by the laws and statues of the state of Washington to appropriate lands and property rights through the exercise of its right of eminent domain within its corporate limits necessary for the above-stated purpose. SECTION H. The City Attorney is hereby authorized and directed to commence condemnation proceedings against the owners and all other parties in interest in the above described lands and improvements, if any, as provided by law; to prepare the necessary petition for condemnation; to commence and prosecute such action in the Superior Court in and for the County of King against all the owners and interested parties in the herein above described property; and to acquire the aforedescribed property and property rights for the City of Renton. 1 ORDINANCE NO. 4 7 8 7 Such proceedings shall be to determine the just compensation for the appropriation of such property and property rights by the City of Renton. SECTION III. This parcel is located on South Second Street between Burnett Avenue South and Logan Avenue South. SECTION IV. The compensation for the acquisition of said property and property rights shall be from the City of Renton's General Fund. SECTION V. Nothing in this ordinance shall be construed as a waiver by the City of Renton of its right to decline to take and pay for said property and property rights after the amount of just compensation has been ascertained, and within the time allowed by law. SECTION VI. This ordinance shall be effective upon its passage, approval, and five days after its publication. PASSED BY THE CITY COUNCIL this 12 t h day of July , 1999. DN 1 Marilyn J. YetUen, City Clerk APPROVED BY THE MAYOR this 12th day of July , 1999. Jess anner, Mayor Approved form: Lawrence J. Warren, City Attorney Date of Publication: July 16, 1999 (summary) ORD.812:6/17/99:as. 2 �.r ORDINANCE NO. Such proceedings shall be to determine the just compensation for the appropriation of such property and property rights by the City of Renton. SECTION III. This parcel is located on South Second Street between Burnett Avenue South and Logan Avenue South. SECTION IV. The compensation for the acquisition of said property and property rights shall be from the City of Renton's General Fund. SECTION V. Nothing in this Ordinance shall be construed as a waiver by the City of Renton of its right to decline to take and pay for said property and property rights after the amount of just compensation has been ascertained, and within the time allowed by law. SECTION VI. This Ordinance shall be effective upon its passage, approval, and five days after its publication. PASSED BY THE CITY COUNCIL this day of 11999. Marilyn J. Petersen, City Clerk APPROVED BY THE MAYOR this day of , 1999. Jesse Tanner, Mayor ORD.812:1/799:MAA/as. 2 ORDINANCE NO. 4787 ,1 1 C O S Second St cn N > N Q E L m Q Q H sL 0 - Ecc G WILLIAMS/HIATT AND JASPER ACQUISITIONS Technical Services 0 200 400 ♦ ♦ Planning/Buildin&/Public Works _■- R. Ma e. D. Vlsneski 4 January 1999 1 :2400 G Ll O S Second St cn > a� Q 1:1 F N Q .a.. L m � Q Q N L L .a. N WILLIAMSMIATT AND JASPER ACQUISITIONS Technical Services 0 200 400 ♦ ♦ Planning/Buildin&/Public Works R. Ma e, D. Visneski 4 January 1999 1 :2400 January 11, 1999 *400, Renton City Council Minutes *4000 Page 19 Committee. Rezone: SW 16th St(900 Hearing Examiner recommended approval of the request from Martin Smith Block), Martin Smith Real Real Estate Services to rezone a 2.9 acre parcel in the 900 block of SW 16th St. Estate Services,R-98-131 from Medium Industrial (IM)to Commercial Office(CO), R-98-131. Council concur. (See page 21 for ordinance.) Plat: Monterey Heights Hearing Examiner recommended approval, with conditions,of the Monterey Preliminary,Monterey&NE Heights Preliminary Plat; 11 single family lots on 3.13 acres located on 12th(PP-98-144) Monterey Ave.NE between NE 12th and 14th Streets (PP-98-144). Council concur. HR&RM: 1999 Healthcare Human Resources&Risk Management Department recommended Plan Changes modifications to the City's healthcare plan, effective February 1, 1999, as proposed by the Health Benefits Task Force. In addition to general plan language amendments,the changes also affect: chiropractic services; medically-accepted transplants; home health,hospice and skilled nursing care; congenital deformities and mastectomies;prescription drugs; and coverage of routing wellness exams. Refer:a Finance Committee. Legal: S 2nd Street Property Legal Department requested authorization to commence condemnation Condemnations(Jasper& proceedings for the Williams/Hiatt and Jasper parcels, located on the south side Williams/Hiatt Parcels) of S 2nd. St.between Burnett and Logan Avenues South. The properties will be used for parking for downtown businesses and the piazza. Refer to Finance Committee. Vacation: SW Harris Pl (Regis Technical Services Division reported that the petitioner for the vacation of a et al., VAC-97-002) section of SW Harris Pl. between Rainier Ave. S. and SW Sunset Blvd.has met all conditions of the vacation approval,and thus recommended approval of the required ordinance. Council concur. (See page 21 for ordinance.) MOVED BY PARKER, SECONDED BY EDWARDS, COUNCIL APPROVE THE CONSENT AGENDA AS PRESENTED. CARRIED. Responding to Councilmember Keolker-Wheeler,Mayor Tanner said that the property owners are not expected to contest the condemnation,but the leaseholder may have objections. City Attorney Warren added that he recommends condemnation proceedings to protect the City from incurring additional damages when the current tenant is displaced. CORRESPONDENCE Correspondence was read from Ronald Fitzgerald,regarding the Kirkland Pl. Citizen Comment: Fitzgerald- street vacation,approved by Council last March. Mr.Fitzgerald requested that Kirkland Pl. Street Vacation, the City waive any compensation for this property in light of the dedication of VAC-97-007 Kirkland Court's Tract A to Renton. MOVED BY EDWARDS, SECONDED BY SCHLITZER,COUNCIL REFER THIS MATTER TO THE TRANSPORTATION COMMITTEE. CARRIED. OLD BUSINESS Council President Parker presented a report recommending that Council Committee of the Whole authorize the following issues as the City of Renton's 1999 legislative Council: 1999 Council priorities: Legislative Priorities 1. Endangered Species Act(ESA): Support legislation that involves cities at all levels of the ESA decision-making process. Direct funding to projects which are consistent with best scientific knowledge and requirements for ongoing evaluation to ensure confidence that the salmon runs are recovering and that economic development is considered in such recovery efforts. 2. State and Local Transportation Funding: Recognize the need for local control and sufficient revenue to adequately fund both system maintenance ., gar►'' �+ CITY OF RENTON COUNCIL AGENDA BILL SUBMITTING DATA: FOR AGENDA OF January 11, 1999 Dept/Div/Board... Executive/Legal Staff Contact..... Lawrence J. Warren AGENDA STATUS: Consent......... X SUBJECT: Condemnation of Wilhams/Hiatt and Jasper parcels, Public Hearing.. south side of South 2nd Street from Burnett Correspondence.. Avenue South to Logan Avenue South. Ordinance....... Resolution...... Old Business.... EXHIBITS: New Business.... Ordinance authorizing condemnation. Study Session... Other........... RECOMMENDED ACTION: APPROVALS: Legal Dept......X Refer to Finance Committee. Finance Dept.... Other........... FISCAL IlvIPACT: Expenditure Required... $350,000 Transfer/Amendment.. Amount Budgeted........ $350000 Revenue Generated... SUMMARY OF ACTION: The administration recommends that the City purchase the Williams/Hiatt and Jasper parcels that is the current location of the Mazda used car lot on South 2nd (see attached sketch). These parcels are necessary for parking for downtown businesses and the Plaza. If the City does not condemn the property it would take the property subject to the lease or the used car lot which, according to its terms, would not finally terminate until the year 2007, long past the City's anticipated need for this property. Staff recommends referral to the IFinance Committee for review of an ordinance authorizing this condemnation (draft ordinance attached). .Agendadoc.31 CITY OF RENTON, WASHINGTON ORDINANCE NO. AN ORDINANCE OF THE CITY OF RENTON, WASHINGTON, AUTHORIZING THE ACQUISITION OF CERTAIN PROPERTY AND PROPERTY RIGHTS BY EMINENT DOMAIN AND PROVIDING FOR THE PAYMENT THEREOF; AUTHORIZING THE CITY ATTORNEY TO PREPARE A PETITION FOR CONDEMNATION IN THE SUPERIOR COURT IN AND FOR THE COUNTY OF KING AND FOR THE PROSECUTION THEREOF FOR THE ACQUISITION OF SUCH PROPERTY AND PROPERTY RIGHTS FOR THE PURPOSE OF PUBLIC PARKING (WILLIAMS/HIATT AND JASPER PARCELS). THE CITY COUNCIL OF THE CITY OF RENTON, WASHINGTON DO ORDAIN AS FOLLOWS: SECTION I. The City Council finds acquisition of the following described property and property rights is necessary and for a public purpose and use, i.e. parking. The properties to be acquired are legally described as: Lots 8, 9, 10, and 11, Block 2, Motor Line Addition to Renton according to the Plat thereof recorded in Volume 9 of Plats, Page 50, records of King County, Washington. All situate in Section 18, Township 23 North, Range 5 East, W.M. The City of Renton is authorized by the laws and statues of the state of Washington to appropriate lands and property rights through the exercise of its right of eminent domain within its corporate limits necessary for the above-stated purpose. SECTION H. The City Attorney is hereby authorized and directed to commence condemnation proceedings against the owners and all other parties in interest in the above described lands and improvements, if any, as provided by law; to prepare the necessary petition for condemnation; to commence and prosecute such action in the Superior Court in and for the County of King against all the owners and interested parties in the herein above described property; and to acquire the aforedescribed property and property rights for the City of Renton. 1 *awe' ORDINANCE NO. Such proceedings shall be to determine the just compensation for the appropriation of such property and property rights by the City of Renton. SECTION III. This parcel is located on South Second Street between Burnett Avenue South and Logan Avenue South. SECTION IV. The compensation for the acquisition of said property and property rights shall be from the City of Renton's General Fund. SECTION V. Nothing in this Ordinance shall be construed as a waiver by the City of Renton of its right to decline to take and pay for said property and property rights after the amount of just compensation has been ascertained, and within the time allowed by law. SECTION VI. This Ordinance shall be effective upon its passage, approval, and five days after its publication. PASSED BY THE CITY COUNCIL this day of 11999. Marilyn J. Petersen, City Clerk APPROVED BY THE MAYOR this day of , 1999. Jesse Tanner, Mayor ORD.812:1/799:MAA/as. 2 G O S Second St N a� > > N Q L m Q� > > Q Q H L O 'E V) WILLIAMSMIATT AND JASPER ACQUISITIONS Technical Services 0 200 400 ♦ ✓ ♦ Planning/Building/Public Works _•` R. MacCFZe, D. Visneski 4 January 1999 1 :2400 CITY OF RENTON PROPERTY ACQUISITION OR SALE CHECKLIST FEB 15 ?000 PERMANENT FILE DOCUMENTATION RECEIVEp CITY CLERK'S OFFICE FOR: CITY CLERK DIVISION DATE:_T /0-0 STAFF NAME & EXTENSION NUMBER: RaAzyg, l City is buyer or seller? _Number of acres or S.F. I If City is seller, list approx. date of original acquisition by City: Property address two- S Sf V_ep� M1 ��Nearest cross streets: Vim' Date of Council/Executive approval: Purpose of acquisition or sale: ,Dtnov\ Other file numbers, document names or key words for cross- referencing: 471W r MWIVA4 ( aLt) K.C. Parcel I.D#(s) r�2 L4� ` � 0 a 00 70 Documents to forward to City Clerk Divn. check off items,• or mark N/Aj: Document Original Copy Purchase and Sale Agreement Addendum to Purchase & Sale Agreement Owner's Title Policy Correspondence for Permanent File/Minutes Closing Statement Recorded Deed (orig. only) Other Other DOCUMENTS MAY BE SUBMITTED TO CC OFFICE IN PHASES, AS NECESSARY. CHECKLIST ORIGINAL MUST BE COMPLETED AND SUBMITTED TO CC OFFICE BY COMPLETION OF TRANSACTION. ------------------------------------------------------------------------------------------------------------- For City Clerk Division Use: Add to file: Copy of Minutes, Ordinances, & Resolutions applicable Index cross references as necessary FILE NO. AC- 03 , , CIT� �. *11111110 „�,;OF RENTON ; Office of the City Attorney Jesse Tanner,Mayor Lawrence J.Warren MEMORANDUM To: Jay Covington Sue Carlson From: Lawrence J. Warren, City Attorney Date: July 29, 1998 Subject: Williams Acquisition We recently spoke about the Williams acquisition and I wanted to document our conclusions should we need to determine at a later date why we have not proceeded on the Williams matter. By memo dated July 10, 1998, 1 laid out several alternatives on how to proceed. Our first decision, however, was how quickly would we need the Williams property. We determined that with all of the projects we had right now, that the Williams property would not be necessary for some time. When we decide that we wish to proceed on the Williams property, then we will have to determine whether it is by negotiation, which might leave us with Sound Mazda as a tenant, or through condemnation, in which case we could wipe out the tenancy at the same time. Because of our reasonably long planning horizon on this matter, I will close my file and calendar it ahead for one year. At that time I will contact you as to whether or not we wish to proceed to acquire the property. If this memo varies in any fashion from our conversations please let me know. Lawrence J. W ten LJW:as. cc: Tom Boyns A8:143.30. Post Office Box 626 - 100 S. 2nd Street - Renton, Washington 98057 - (425)255-8678 ®This paper contains 50%recycled material,20%post consumer CITOF RENTON Office of the City Attorney Jesse Tanner,Mayor Lawrence J Warren MEMORANDUM DATE: July 10, 1998 TO: Jay Covington Sue Carlson FROM: Lawrence Warren RE: Williams Acquisition Dear Jay and Sue: As you will recall, the Mayor has asked that we institute negotiations to acquire the Williams parcel, currently being used as a used car lot by Sound Mazda. We had previously discussed the best way to approach this property acquisition. The first thing we wanted to do was have Mr. Williams authorize Dan Kellogg to release copies of the lease to me. After a substantial delay, that has been done. The current lease is valid through February 28, 2001. The real problem is that the lease grants two 3-year options to renew. While the City could wait until 2001 to get the property, it probably cannot wait through 2007. We need to make a decision on how to proceed. If we acquire Mr. Williams' interest through negotiation,we will take it subject to the Sound Mazda lease. If we condemn the property,then the lease will be terminated and the leasee will obtain some part of the value paid for the property, but only if the lease is below market value. That then requires Mr. Williams and Sound Mazda to fight over whether the lease is at market value. The City has had good relationships with Mr. Williams and I hate to ruin that relationship. There is some feeling that Sound Mazda is not doing well at its present location and will seek to avoid the lease. However, the most current lease extension was signed in April of this year so that would seem to indicate that Sound Mazda is doing all right. Putting this all together, it would appear to me that we need to talk to Sound Mazda about its long term plans. If Sound Mazda is going to move by 2001, then we need to get that in writing. We then need to confirm that the City is willing to wait that long. If either the City can't wait that long of Sound Mazda doesn't intend to move in 2001, then I think the City has little alternative but to condemn the property. Post Office Box 626 - 100 S. 2nd Street - Renton, Washington 98057 - (425)255-8678 MThis nnner rnnfai"rn*/rervr1Pr1 malorini 9f1 i nnsf rn—im— a Williams Acquisition *%w July 9, 1998 Page 2 I feel little compulsion to push this case, but I wish to confirm that the City does not have immediate need for this property. If there is an immediate need, than I need to be informed so I can prepare the necessary condemnation paperwork. In the meantime, I would suggest Sue contact Sound Mazda and find out what their long term plans are. Either Sue or Jay should let me know whether or not this property is still one the City wishes to acquire, and what our schedule is. After we have all of that information, then we probably need to have a meeting with Mr. Williams to make sure he knows where the City is headed. I look forward to hearing from you on this. Very truly yours, (7Lawrence J. arren City Attorne LJW:ma cc: Tom Boynes Ray Williams CITY OF RENTON, WASHINGTON ORDINANCE NO. 4 7 8 7 AN ORDINANCE OF THE CITY OF RENTON, WASHINGTON, AUTHORIZING THE ACQUISITION OF CERTAIN PROPERTY AND PROPERTY RIGHTS BY EMINENT DOMAIN AND PROVIDING FOR THE PAYMENT THEREOF; AUTHORIZING THE CITY ATTORNEY TO PREPARE A PETITION FOR CONDEMNATION IN THE SUPERIOR COURT IN AND FOR THE COUNTY OF KING AND FOR THE PROSECUTION THEREOF FOR THE ACQUISITION OF SUCH PROPERTY AND PROPERTY RIGHTS FOR THE PURPOSE OF PUBLIC PARKING (WILLIAMS/HIATT AND JASPER PARCELS). THE CITY COUNCIL OF THE CITY OF RENTON, WASHINGTON DO ORDAIN AS FOLLOWS: SECTION I. The City Council finds acquisition of the following described property and property rights is necessary and for a public purpose and use, i.e. parking. The properties to be acquired are legally described as: Lots 8, 9, 10, and 11, Block 2, Motor Line Addition to Renton according to the Plat thereof recorded in Volume 9 of Plats, Page 50, records of King County, Washington. All situate in Section 18, Township 23 North, Range 5 East, W.M. The City of Renton is authorized by the laws and statutes of the state of Washington to appropriate lands and property rights through the exercise of its right of eminent domain within its corporate limits necessary for the above-stated purpose. SECTION II. The City Attorney is hereby authorized and directed to commence condemnation proceedings against the owners and all other parties in interest in the above described lands and improvements, if any, as provided by law; to prepare the necessary petition for condemnation; to commence and prosecute such action in the Superior Court in and for the County of King against all the owners and interested parties in the hereinabove described property; and to acquire the aforedescribed property and property rights for the City of Renton. 1 ORDINANCE NO. 4787 Exhibit A Legal Description Lots 8, 9, 10 and 11, Block 2, Motor Line Addition to Renton according to the Plat thereof recorded in Volume 9 of Plats, Page 50, records if King County, Washington. All situate in Section 18, Township 23 North, Range 5 East, W.M.. Williams Condemnation Legal 1/5/99 tgb `������,:, .., t(�j���ii fir✓' �y� C (CD N C O N O CD m C7 d m M. 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The original document is retained by the City Clerk. Thank you. Enclosures: (1) 4110 - CITY.3F RENTON Office of the City Attorney Jesse Tanner,Mayor Lawrence J Warren CITY OF RENTON DEC 1 5 1999 ED December 14, 1999 CITY CLERK'S OFFICE Ms. Marilyn Petersen City Clerk City of Renton 1055 South Grady Way Renton, Washington 98055 Re: Acquisition of 603 S 2"a Street, Renton, WA 98055 from Williams/Hiatt Dear Ms. Petersen: I am enclosing the original Escrow Instructions regarding the above transaction for Mayor Tanner's review and signature. Please forward a copy of this document to me once Mayor Tanner has signed. The original document may be filed in the Clerk's Office. I have included a copy of the signed Statutory Warranty Deed and excise tax affidavit for your information. I will forward the original Statutory Warranty Deed to you once my office has received it. Thank you. Please contact me if you have any questions. Very truly yours, Stephanie Rary Legal Assistant to David M. Dean Enc. Post Office Box 626 - 1 S. 2 P d Street Reno , Oshsngton98057 - (425)255-867800Icontains /recymaterial, r PROPERTY ACQUISITION OR SALE CHECKLIST PERMANENT FILE DOCUMENTATION FOR: CITY CLERK DIVISION DATE: STAFF NAME &EXTENSION NUMBER: U = S'Q ]S' City is buyer or seller? Number of acres or S.F. If City is seller, list approx. date of original acquisition by City: Property address Nearest cross streets: �-�- - Date of Council/Executive approval: Purpose of acquisition or sale: A>,, ' bWy\1 V'l Z7_rC.._, Other file numbers, document names or key words for cross- referencing: �eAI SLt 'Cln�mt1u 4 E+, Wk It lG�1►itS K.C. Parcel I.D#(s) 15(a�(e 0 QDQ9 0 Documents to forward to City Clerk Divn. check off items: or mark N/A Document Original Copy Purchase and Sale Agreement Addendum to Purchase& Sale Agreement Owner's Title Policy Correspondence for Permanent File/Minutes _Closing Statement/Ur ftew X Recorded Deed (orig. only) Other Other DOCUMENTS MAY BE SUBMITTED TO CC OFFICE IN PHASES, AS NECESSARY. CHECKLIST ORIGINAL MUST BE COMPLETED AND SUBMITTED TO CC OFFICE BY COMPLETION OF TRANSACTION. ------------------------------------------------------------------------------------------------------------- For City Clerk Division Use: Add to file: Copy of Minutes, Ordinances, &Resolutions applicable Index cross references as necessary FILE NO. AC- NEW ESCROW LNSTRUCTIONS WILLIAMSMIATT t0 CITY OF RENTON Property Address: 603S2 nd Street Renton,WA 98055 TO: Warren, Barber, Dean&Fontes, P.S., Attorneys at Law: 1. PURCHASE AGREEMENTS: The undersigned appoint you as escrow agent for the closing of the above-mentioned real estate transaction. The Agreement of the parties is for the transfer of Four Hundred Five Thousand Dollars ($405,000.00) to purchase in return for a Statutory Warranty Deed. 2. INSTRUMENTS: The undersigned deposits with you the amounts necessary to close as set forth in the attached Real Estate Transaction Closing Statements ("Closing Statement"), together with necessary conveyancing and security instruments, which funds and instruments you are authorized to use when all parties have approved these instructions, and you hold for the account of the Purchaser the appropriate conveyancing instrument, and for the account of the Seller the appropriate promissory notes and/or security instruments and funds, all as set forth in the Agreement. From the sums deposited by the parties, you are authorized to deduct the charges as set forth in the attached Closing Statements. 3. TITLE INSURANCE: .1 General Information: The undersigned acknowledge that they understand that there are several different types of policies of title insurance, all of which can be issued with various endorsements which expand, explain or modify the policy coverage or insure against special risks. The two major types of coverage are Standard Coverage Policy and Extended Coverage Policy. A Standard Coverage Policy has general exceptions which are contained in Schedule "B". For the most part these relate to off-record matters, such as encroachments or questions of location, boundary and area which an accurate survey would disclose, public or private easements not disclosed of record, rights of persons in possession of the property, material or labor liens, water rights, utility charges, etc. ESCROW INSTRUCTIONS - 1 An Extended Coverage Policy will generally not include some or all of the Schedule "B" exceptions noted above. However, the Extended Coverage Policy will cost approximately 30% more than the Standard Coverage Policy. In addition the title insurer may require a survey of the boundaries of the property and the improvements located thereon if the title insurer's inspection of the property leaves any doubt with regard to encroachments or boundary disputes. Thus, there would be additional expense and delay caused by the survey. The undersigned have heretofore agreed that the Seller will provide a Standard Coverage Policy at the expense of the Purchaser. The undersigned confirm that agreement. If the undersigned desire to modify their prior agreement with respect to the type of title insurance policy, we will notify you in writing of the change so that the proper title insurance coverage can be secured. .2 Owner's Policv. You are instructed to, on behalf of the Seller, order from Pacific Northwest Title Insurance Company, a preliminary commitment for an Owner's standard form policy of title insurance in the face amount of Four Hundred Thousand Dollars ($400,000.00). .3 Reliance. You are entitled to rely upon the preliminary commitment, and have no obligation to make any independent search of public records, or inquiry of any persons, including the Seller, Purchaser and Broker. 4. ESCROW FEE: Your escrow fee in the total sum of One Thousand Eighty Dollars ($1,080.00) is intended as compensation for the ordinary services as contemplated by these instructions. In the event that the conditions of this escrow are not promptly fulfilled or that you render any service not provided for in these instructions, or in the event there shall be an assignment of the interest of any party to these instructions or any modification in these instructions, you shall be reasonably compensated for such extraordinary services and reimbursed for all costs and expenses occasioned by such action. 5. REPRESENTATION: Seller is aware that Warren, Barber, Dean & Fontes, P.S., Attorneys at Law, are acting as the attorneys for the Purchaser. Seller waives any potential conflict of interest that may arise by reason of that relationship. Seller is aware of his right to be represented by independent counsel of his own choice. 6. LIMITATIONS: YOU ARE TO HAVE NO LIABILITY OR RESPONSIBILITY WITH RESPECT TO ANY MATTERS CONNECTED WITH THE FOLLOWING: (a) Heating oil in tank, water, Metro and other utility charges which will be adjusted between the Seller and Purchaser outside of this escrow. (b) Requirements of the Consumer Protection Act, Truth In Lending Act, the Real Estate Settlement Procedures Act, Inter-State Land Sales Act, and any similar laws and regulations. (c) Personal property, or encumbrances thereon, including personal property taxes, matters relating to the Bulk Sales Act, sales taxes and instruments filed under the ESCROW INSTRUCTIONS-2 Uniform Commercial Code, which matters will be adjusted between the Seller and Purchaser outside of this escrow. (d) Forgeries or false personations of any person or party in connection with these instructions or this escrow generally. (e) Assessments, utility connection and any other charges which are not of record and disclosed in the preliminary commitment for title insurance, including omit taxes which may appear on future tax statements. Seller warrants to you and to the Purchaser that there are no recently completed, pending, or announced local improvements for streets, underground wiring, water, sewer, etc., chargeable or to become chargeable to the property. All such matters shall be adjusted between Seller and Purchaser outside of this escrow. (f) The accuracy or correctness of any representations or provisions in the Agreement, or otherwise made by the parties or Broker. (g) Insurance on the property. (1) Purchaser understands and acknowledges that it is Purchaser's responsibility to provide for fire and casualty insurance upon the premises commencing as of or prior to the closing date in order to protect Purchaser's interest in the property. (2) In the event that Seller is financing any portion of the purchase price, Purchaser agrees, on or before the closing date, to acquire and pay at least the first year's premium on a new fire and casualty insurance policy with extended coverage in an amount not less than the value of the improvements on the property, or as set forth in the Agreement. The policy shall, to the extent that there is any balance owed them, name the Seller and any other holders of security against the property as loss payees. Purchaser agrees to immediately deliver to Seller a copy of the policy. (3) Seller will maintain any present insurance on the property until closing, and will be free to thereupon cancel the same and retain any refund of unearned premium. (h) Rental or lease arrangements concerning the property, including accounting or pro- ration of rentals or transfer or accounting of tenant deposits. (i) The parties understand that you have not inspected the subject property and have no knowledge regarding; (1) The condition of the real property; ESCROW INSTRUCTIONS- 3 (2) Whether or not any items of personal property referred to in the Agreement, if any, remain on the property or will remain on the property on delivery of possession to Purchaser; or (3) The presence on the real property, or in any improvements located thereon, of any asbestos-containing materials, polychlorinated biphenyls ("PCBs"), fuel and/or chemical storage tanks, drums and/or pipelines, liquid or solid wastes, pesticides, herbicides and/or other agricultural chemicals, or other substances or materials defined or designated as hazardous or toxic wastes, hazardous or toxic materials, a hazardous, toxic or radioactive substance, or other similar term, by any federal, state or local environmental statute, regulation, or ordinance, presently in effect, which materials are collectively referred to herein as "hazardous substances". The parties have specifically declined to secure a pre-acquisition assessment of the property to ascertain whether any hazardous substances are present on the property, or on any adjacent or nearby property. The Purchaser acknowledges that they understand that they may be held liable for the cost of cleanup or other remediation of any hazardous substances which may be hereafter discovered to be present on the property, together with costs of response by environmental agencies, and other damages to the environment, in the event that the Purchaser fails to make due and diligent inquiry into the environmental condition of the property prior to acquisition thereof. (j) You shall not be responsible for the transfer of possession of the real and personal property from Seller to Purchaser. All arrangements concerning such transfer shall be made directly between such parties. (k) You shall have no obligation or responsibility to check on, verify or obtain any information with respect to determining (or if any information is so obtained, you shall have no liability with respect to determining): (1) Whether or not any Note and/or Mortgage, Deed of Trust, or Real Estate Contract against the property permits the holder to raise the interest rate and/or declare the entire balance due in the event of sale, or requires consent to sale of the property. (2) Any balance owed by Seller on Lienable Condominium or Homeowner's Association dues or charges. Seller warrants to Buyer that all Condominium or Homeowner's Association dues or charges are paid current. You have advised us to have this information reviewed by our own attorney. ESCROW INSTRUCTIONS -4 *Awe (1) Encroachments or questions of location, boundary and area, which an accurate survey may disclose. Each party specifically declines to obtain a survey of the premises which would disclose any such matters. (m) Public or private easements, streets, roads, alleys or highways, unless disclosed of record by recorded plat or conveyance, or decree of a court of record. (n) Exceptions and reservations in United States Patents. (o) Rights or claims of persons in possession, or claiming to be in possession, not disclosed by the public records. (p) Material or labor liens, or liens under the Workmen's Compensation Act not disclosed by the public records. (q) Water rights or matters relating thereto. (r) Any service, installation or construction charges for sewer, water, electricity, or garbage removal. (s) General taxes not now payable; matters relating to special assessments and special levies, if any, preceding the same becoming a lien. (t) Right of use, control or regulation by the United States of America, in the exercise of powers over navigation. (u) Any prohibition or limitation on the use, occupancy or improvement of the land resulting from the rights of the public or riparian owners to use any waters which may cover the land. (v) Zoning (present or potential) of the property, and the legality or propriety of the Purchaser's proposed use of the property under existing land use codes. 4. MISCELLANEOUS: 1 A copy of the Closing Statement and other instruments may be delivered to any broker involved in the transaction, as well as to mortgagees or holders of other liens, and to attorneys representing any of the parties. You are authorized, but not required, to notify prior lien holders of the existence of any contract or other instrument securing all unpaid balances owed Seller by Purchaser. .2 These instruments are complete, and there are no oral or other agreements which modify or affect the same. Any future amendments or supplements to these instructions must be in writing, and delivered to you,before they shall be effective. ESCROW INSTRUCTIONS -5 .3 All notices and correspondence may be mailed or delivered to the parties at the addresses shown below. You shall have no liability for any loss or delay involved in mailing any instruments or monies. .4 The term "closing" is susceptible to several meanings. Generally, it means the time at which the Seller delivers title to the Purchaser in exchange for the purchase price. Normally, closing does not occur when the parties execute the legal documents at the closing agent's office or when the Purchaser delivers all or part of the purchase price to the closing agent but may be delayed several days until the documents and funds have been processed. 5. TERMINATION: If you are unable to comply with these instructions, or are, in your sole opinion, unable or unwilling to close this sale in the manner provided in the Agreement, then you will so notify the Seller and Purchaser in writing. If neither party has filed any objection within ten (10) days after receipt of such notice, then you are instructed to return all instruments and monies to the party who signed the same or paid the money to you. Thereupon, you are, without the necessity of further concurrence or instruments from either of the parties, released from all liability in respect to this escrow. If within said ten (10) days, either of the parties objects to the return of the instruments or monies, or transfer to another closing agent, you are authorized, in your discretion, to either hold the same until agreement is reached, or to interplead the same with the Superior Court, at the expense of the parties. Any monies returned to the parties shall be less any expenditures which you have made on their behalf prior thereto, including, but not limited to, any title insurance cancellation fee and your full escrow fee. 6. CLOSING STATEMENT: The attached closing statement has been reviewed and is approved by the parties. Dated: /off 13�9�1 Seller: Purchaser: CIT F RENTON Thomas H, Williams ayor Jesse Tanner Soc. Sec. No.: 535-14-8900 ATTEST: Gladys Hiatt Soc. Sec. No.: 538-07-7985 ESCROW INSTRUCTIONS -6 v.r ESTIMATED SELLER'S REAL ESTATE TRANSACTION CLOSING STATEMENT WILLIAMS/HIATT t0 CITY OF RENTON Property Address: 603S2 nd Street Renton, WA 98055 Closing Date: December 13, 1999. DESCRIPTION CHARGES CREDITS FSalesce 400,000.00 Current Real Estate Taxes 139.32 Pro-rated as of December 13, 1999. Contribution for appraisal and attorney's fees 5,000.00 Check to Mr. Williams: $186,139.32 186,139.32 Check to Ms. Hiatt: $186,000.00 186,000.00 Check to Rodgers Deutsch& Turner Trust Account for 33,000.00 Attorney's fees: $33,000.00 Extended Totals 405,139.32 405,139.32 u 116 ESCROW INSTRUCTIONS -7 �••+_ 'err` ESTIMATED PURCHASER'S REAL ESTATE TRANSACTION CLOSING STATEMENT WILLIAMSMIATT t0 CITY OF RENTON Property Address: 603S2 nd Street Renton, WA 98055 Closing Date: December 13, 1999. DESCRIPTION t400,OOO.00 RGES CREDITS Sales Price Current Real Estate Taxes 139.32 Pro-rated as of December 13, 1999. Title Insurance Premium inc. Sales Tax 1,303.20 Recording/Reconveyance Fees (est.) 9.45 Escrow Fee 1,080.00 Contribution for appraisal and attorney's fees 5,000.00 Check from Purchaser to Close: $ 407,531.97 407,531.97 Extended Totals 407,531.97 407,531.97 ESCROW INSTRUCTIONS- 8 PAYOR'S REQUEST FOR TAXPAYER IDENTIFICATION NUMBER ESCROW NO. 175-088 DATE OF CLOSING: 12/13/99 PROPERTY ADDRESS: 603S2 nd Street Renton,WA 98055 Are you selling or refinancing the above property? Selling_X_ Refinancing Is this property your primary residence? Yes No X Are you a United States Citizen? Yes_X_ No SELLER/REFINANCING INFORMATION: Williams, Thomas H. 13329 SE 253`d Place Kent, WA 98042 (253) 631-0149 535-14-8900 Hiatt, Gladys 15611 SE 240'h St Kent, WA 98042 (253) 631-1980 538-07-7985 CERTIFICATION: Under the penalties of perjury, I certify that the information provided above is true, correct and complete. Thomas H. Will' Date: 'j � Gladys Hia t Date: ESCROW INSTRUCTIONS -9 �+rr+ After recording return to: WARREN. BARBER. DEAN & FONTES. P.S. P.O. BOX 626 RENTON, WASHINGTON 98057-0626 DOCUy1ENT TITLE: Statuton, `Warranty Deed REFERENCE NUMBER OF RELATED DOCUMENT: N/A GRANTOR(S): Hiatt. Gladys, and Williams. Thomas H.. ADDITIONAL GRANTOR(IS) ON PAGE: 1 GRANTEE(S): City of Renton ADDITIONAL GRANTEE(S) ON PAGE: 1 ABBREVIATED LEGAL DESCRIPTION: Ptn. Lots 9, 10 & 11, Blk. 2. Motorline Add. To Renton. Vol. 9, pg. 50 ADDITIONAL LEGAL DESCRIPTION ON PAGE(S): 1 ASSESSOR'S TAX PARCEL NUMBER(S): 5696000090 STATLUTORY `YARRA'STY DEED Gladys Hiatt. as her separate estate. and Thomas H. Williams. as his separate estate. for and in consideration of Ten Dollars (S 10) and other good and valuable consideration in hand paid and under threat of eminent domain. convey and warrant to City of Renton, a Washington municipal corporation. the following described real estate. situated in King County. State of Washington: Lots 9, 10 & 11, Block 2. ylotorline Addition to Renton, according to the plat thereof recorded in Volume 9 of Plats, page 50, in King County, Washington; EXCEPT the east 6 feet of Lots 10 and 11 as conveved to the City of Renton for street purposes by Deeds recorded under Recording Numbers 910191 and 910190. SUBJECT TO: Easement and the terms and conditions referenced therein granted to Puget Sound Power & Light Company for an underground electric distribution system affecting the east 12 feet of the west 17 feet of the north 13 feet of Lot 9, recorded October 20, 1972, under Recording Number 7210200526 STATUTORY WARRANTY DEED - 1 `fir+• .,rr Dated this day of Gladys Hiaft Thomas H. Williams STATE OF WASHINGTON ) ss COL".`,TY OF MNG ) I certify that I know or have satisfacton evidence that Gladys Hiatt and Thomas H. Williams are the persons who appeared before me, and who signed this instrument and acknowledaed it to be their free and voluntary act for the uses and purposes mentioned,in the instrument. DATED this davv-of Ci Notary Public STEPHANIE RARY in and for the State of Washington. VIy appointment expires: STATUTORY WARRANTY DEED - 2 " CITE. OF RENTON Office of the City Attorney Jesse Tanner,Mayor Lawrence J.Warren ` CITY OF RENT'O1N DEC 0 21999 CITY RECEIVED CLERKS OFFICE MEMORANDUM TO: Victoria Runkle F & IS AdministratQr FROM: Stephanie Rary Legal Assistant to David M. Dean DATE: November 29, 1999 RE: Thomas H. Williams Acquisition Property Address: 603 S 2°a Street, Renton, 98055 Closing Date: 12/13/99 I am writing to request the funds for the above acquisition. These funds will be held in .our trust account until the escrow closes. The total amount required for the City to purchase this property is $407,531.97. Please make the check payable to "Warren Barber Dean & Fontes, P.S. Trust Account." Attached to this memo are.the proposed Escrow Instructions—the City's closing statement can be found on page 8. Our target closing date is Monday, December 13, 1999. Please advise if you will not be able to forward the funds on or before this date. Thank you. Please contact me at 255-8678 if you have any questions. Post Office Box 626 - 100 S. 2nd Street - Renton, Washington 98057 - (425)255-8678 ®This paper contains 50%recycled material,20%post consumer ESCROW INSTRUCTIONS WILLIAMS t0 CITY OF RENTON Property Address: 603S2 nd Street Renton, WA 98055 TO: Warren, Barber, Dean & Fontes, P.S., Attorneys at Law: 1. PURCHASE AGREEMENTS: The undersigned appoint you as escrow agent for the closing of the above-mentioned real estate transaction. The Agreement of the parties is for the transfer.of Four Hundred Five Thousand Dollars ($405,000.00) to purchase in return for a Statutory Warranty Deed. 2. INSTRUMENTS: The undersigned deposits with you the amounts necessary to close as set forth in the attached Real Estate Transaction Closing Statements ("Closing Statement"), together with necessary conveyancing and security instruments, which funds and instruments you are authorized to use when all parties have approved these instructions, and you hold for the account of the Purchaser the appropriate conveyancing instrument, and for the account of the Seller the appropriate promissory notes and/or security instruments and funds, all as set forth in the Agreement. From the sums deposited by the parties, you are authorized to deduct the charges as set forth in the attached Closing Statements. 3. TITLE INSURANCE: 1 General Information: The undersigned acknowledge that they understand that there are several different types of policies of title insurance, all of which can be issued with various endorsements which expand, explain or modify the policy coverage or insure against special risks. The two major types of coverage are Standard Coverage Policy and Extended Coverage Policy. A Standard Coverage Policy has general exceptions which are contained in Schedule "B". For the most part these relate to off-record matters, such as encroachments or questions of location, boundary and area which an accurate survey would disclose, public or private easements not disclosed of record, rights of persons in possession of the property, material or labor liens, water rights, utility charges, etc. ESCROW INSTRUCTIONS - 1 Noe vr/ An Extended Coverage Policy will generally not include some or all of the Schedule "B" exceptions noted above. However, the Extended Coverage Policy will cost approximately 30% more than the Standard Coverage Policy. In addition the title insurer may require a survey of the boundaries of the property and the improvements located thereon if the title insurer's inspection of the property leaves any doubt with regard to encroachments or boundary disputes. Thus, there would be additional expense and delay caused by the survey. The undersigned have heretofore agreed that the Seller will provide a Standard Coverage Policy at the expense of the Purchaser. The undersigned confirm that agreement. If the undersigned desire to modify their prior agreement with respect to the type of title insurance policy, we will notify you in writing of the change so that the proper title insurance coverage can be secured. 2 Owner's Policy. You are instructed to, on behalf of the Seller, order from Pacific Northwest Title Insurance Company, a preliminary commitment for an Owner's standard form policy of title insurance in the face amount of Four Hundred Thousand Dollars ($400,000.00). .3 Reliance. You are entitled to rely upon the preliminary commitment, and have no obligation to make any independent search of public records, or inquiry of any persons, including the Seller, Purchaser and Broker. 4. ESCROW FEE: Your escrow fee in the total sum of One Thousand Eighty Dollars (51,080.00) is intended as compensation for the ordinary services as contemplated by these instructions. In the event that the conditions of this escrow are not promptly fulfilled or that you render any service not provided for in these instructions, or in the event there shall be an assignment of the interest of any party to these instructions or any modification in these instructions, you shall be reasonably compensated for such extraordinary services and reimbursed for all costs and expenses occasioned by such action. 5. REPRESENTATION: Seller is aware that `Farren, Barber, Dean & Fontes, P.S., Attorneys at Law, are acting as the attorneys for the Purchaser. Seller waives any potential conflict of interest that may arise by reason of that relationship. Seller is aware of his right to be represented by independent counsel of his own choice. 6. LMITATIONS: YOU ARE TO HAVE NO LIABILITY OR RESPONSIBILITY WITH RESPECT TO ANY MATTERS CONNECTED WITH THE FOLLOWING: (a) Heating oil in tank, water, Metro and other utility charges which will be adjusted between the Seller and Purchaser outside of this escrow. (b) Requirements of the Consumer Protection Act, Truth In Lending Act, the Real Estate Settlement Procedures Act, Inter-State Land Sales Act, and any similar laws and regulations. (c) Personal property, or encumbrances thereon, including personal property taxes, matters relating to the Bulk Sales Act, sales taxes and instruments filed under the ESCROW INSTRUCTIONS- 2 Moe *W0d Uniform Commercial Code, which matters will be adjusted between the Seller and Purchaser outside of this escrow. (d) Forgeries or false personations of any person or party in connection with these instructions or this escrow generally. (e) Assessments, utility connection and any other charges which are not of record and disclosed in the preliminary commitment for title insurance, including omit taxes which may appear on future tax statements. Seller warrants to you and to the Purchaser that there are no recently completed, pending, or announced local improvements for streets, underground wiring, water, sewer, etc., chargeable or to become chargeable to the property. All such matters shall be adjusted between Seller and Purchaser outside of this escrow. (f) The accuracy or correctness of any representations or provisions in the Agreement, or otherwise made by the parties or Broker. (g) Insurance on the property. (1) Purchaser understands and acknowledges that it is Purchaser's responsibility to provide for fire and casualty insurance upon the premises commencing as of or prior to the closing date in order to protect Purchaser's interest in the property. (2) In the event that Seller is financing any portion of the purchase price, Purchaser agrees, on or before the closing date, to acquire and pay at least the first year's premium on a new fire and casualty insurance policy with extended coverage in an amount not less than the value of the improvements on the property, or as set forth in the Agreement. The policy shall, to the extent that there is any balance owed them, name the Seller and any other holders of security against the property as loss payees. Purchaser agrees to immediately deliver to Seller a copy of the policy. (3) Seller will maintain any present insurance on the property until closing, and will be free to thereupon cancel the same and retain any refund of unearned premium. (h) Rental or lease arrangements concerning the property, including accounting or pro- ration of rentals or transfer or accounting of tenant deposits. (i) The parties understand that you have not inspected the subject property and have no knowledge regarding; (1) The condition of the real property; ESCROW INSTRUCTIONS - 3 (2) Whether or not any items of personal property referred to in the Agreement, if any, remain on the property or will remain on the property on delivery of possession to Purchaser; or (3) The presence on the real property, or in any improvements located thereon, of any asbestos-containing materials, polychlorinated biphenyls ("PCBs"), fuel and/or chemical storage tanks, drums and/or pipelines, liquid or solid wastes, pesticides, herbicides and/or other agricultural chemicals, or other substances or materials defined or designated as hazardous or toxic wastes, hazardous or toxic materials, a hazardous, toxic or radioactive substance, or other similar term, by any federal, state or local environmental statute, regulation, or ordinance, presently in effect, which materials are collectively referred to herein as "hazardous substances". The parties have specifically declined to secure a pre-acquisition assessment of the property to ascertain whether any hazardous substances are present on the property, or on any adjacent or nearby property. The Purchaser acknowledges that they understand that they may be held liable for the cost of cleanup or other remediation of any hazardous substances which may be hereafter discovered to be present on the property, together with costs of response by environmental agencies, and other damages to the environment, in the event that the Purchaser fails to make due and diligent inquiry into the environmental condition of the property prior to acquisition thereof. (j) You shall not be responsible for the transfer of possession of the real and personal property from Seller to Purchaser. All arrangements concerning such transfer shall be made directly between such parties. (k) You shall have no obligation or responsibility to check on, verify or obtain any information with respect to determining (or if any information is so obtained, you shall have no liability with respect to determining): (1) Whether or not any Note and/or Mortgage, Deed of Trust, or Real Estate Contract against the property permits the holder to raise the interest rate and/or declare the entire balance due in the event of sale, or requires consent to sale of the property. (2) Any balance owed by Seller on Lienable Condominium or Homeowner's Association dues or charges. Seller warrants to Buyer that all Condominium or Homeowner's Association dues or charges are paid current. You have advised us to have this information reviewed by our own attorney. ESCROW INSTRUCTIONS-4 womb (1) Encroachments or questions of location, boundary and area, which an accurate survey may disclose. Each party specifically declines to obtain a survey of the premises which would disclose any such matters. (m) Public or private easements, streets, roads, alleys or highways, unless disclosed of record by recorded plat or conveyance, or decree of a court of record. (n) Exceptions and reservations in United States Patents. (o) Rights or claims of persons in possession, or claiming to be in possession, not disclosed by the public records. (p) Material or labor liens, or liens under the Workmen's Compensation Act not disclosed by the public records. (q) Water rights or matters relating thereto. (r) Any service, installation or construction charges for sewer, water, electricity, or garbage removal. (s) General taxes not now payable; matters relating to special assessments and special levies, if any, preceding the same becoming a lien. (t) Right of use, control or regulation by the United States of America, in the exercise Of powers over navigation. (u) Any prohibition or limitation on the use, occupancy or improvement of the land resulting from the rights of the public or riparian owners to use any waters which may cover the land. y (v) Zoning (present or potential) of the property, and the legality or propriety of the Purchaser's proposed use of the property under existing land use codes. 4. MISCELLANEOUS: 1 A copy of the Closing Statement and other instruments may be delivered to any broker involved in the transaction, as well as to mortgagees or holders of other liens, and to attorneys representing any of the parties. You are authorized, but not required, to notify prior lien holders of the existence of any contract or other instrument securing all unpaid balances owed Seller by Purchaser. .2 These instruments are complete, and there are no oral or other agreements which modify or affect the same. Any future amendments or supplements to these instructions must be in writing, and delivered to you, before they shall be effective. ESCROW INSTRUCTIONS-5 .3 All notices and correspondence may be mailed or delivered to the parties at the addresses shown below. You shall have no liability for any loss or delay involved in mailing any instruments or monies. .4 The term "closing" is susceptible to several meanings. Generally, it means the time at which the Seller delivers title to the Purchaser in exchange for the purchase price. Normally, closing does not occur when the parties execute the legal documents at the closing agent's office or when the Purchaser delivers all or part of the purchase price to the closing agent but may be delayed several days until the documents and funds have been processed. 5. TERMINATION: If you are unable to comply with these instructions, or are, in your sole opinion, unable or unwilling to close this sale in the manner provided in the Agreement, then you will so notify the Seller and Purchaser in writing. If neither party has filed any objection within ten (10) days after receipt of such notice, then you are instructed to return all instruments and monies to the party who signed the same or paid the money to you. Thereupon, you are, without the necessity of further concurrence or instruments from either of the parties, released from all liability in respect to this escrow. If within said ten (10) days, either of the parties objects to the return of the instruments or monies, or transfer to another closing agent; you are authorized, in your discretion, to either hold the same until agreement is reached, or to interplead the same with the Superior Court, at the expense of the parties. Any monies returned to the parties shall be less any expenditures which you have made on their behalf prior thereto, including, but not limited to, any title insurance cancellation fee and your full escrow fee. 6. CLOSING STATEMENT: The attached closing statement has been reviewed and is approved by the parties. Dated: Seller: Purchaser: CITY OF RENTON By: Thomas H. Williams Mayor Jesse Tanner Soc. Sec. No.: ATTEST: ESCROW INSTRUCTIONS-6 ESTIMATED SELLER'S REAL ESTATE TRAtiSACTION CLOSING STATEMENT WILLIAMS to CITY OF RENTON Property Address: 603S2 nd Street Renton, WA 98055 Closing Date: December 13, 1999. DESCRIPTION CHARGES CREDITS Sales Price 400,000.00 j jCurrent Real Estate Taxes 139.32 j Pro-rated as of December 13, 1999. Contribution for appraisal and attorney's fees 5,000.00 j Check to Seller: $372,139.32 372,.139.32 Check to Rodgers Deutsch & Turner Trust Account for 33,000.00 j Attorney's fees: $33,000.00 Extended Totals 405,139.32 j 405,139.32 ESCROW INSTRUCTIONS -7 `Aw ESTIMATED PURCHASER'S REAL ESTATE TRANSACTION CLOSING STATEMENT WILLIAMS to CITY OF RENTON Property Address: 603S2 na Street Renton, `VA 98055 Closing Date: December 13, 1999. DESCRIPTION CHARGES CREDITS Sales Price 400,000.00 Current Real Estate Taxes 139.32 j Pro-rated as of December 13, 1999. Title Insurance Premium inc. Sales Tax 1,303.20 Recordina/Reconveyance Fees (est.) 9.45 Escrow Fee 1,080.00 Contribution for appraisal and attorney's fees 5,000.00 Check from Purchaser to Close: S 407,531.97 407,531.97 Extended Totals ; 407,531.97 407,531.97 ESCROW INSTRUCTIONS - 8 iirr' v,rl` PAYOR'S REQUEST FOR TAXPAYER IDENTIFICATION NUMBER ESCROW NO. 175-088 DATE OF CLOSING: 12/13/99 PROPERTY ADDRESS: 603 S 2°d Street Renton, WA 98055 Are you selling or refinancing the above property? Selling_X_ Refinancing Is this property your primary residence? Yes No X Are you a United States Citizen? Yes_X_ No SELLER/REFINANCING INFORMATION: Williams, Thomas H. (Last name, First name) 13329 SE 253`d Place Kent, WA 98042 (Phone No.) (Social Security No. or Taxpayer ID) CERTIFICATION: Under the penalties of perjury, I certify that the information provided above is true, correct and complete. Thomas H. Williams Date: ESCROW INSTRUCTIONS-9 ITFASF I'YIT OR I'ltIN f RII;AL It;S"I'A'I'It; II:X('ISI? TAX Ali'1�IUAVI'1' Illis lora►is your receipt when slumped ITFAtif SI::F kFVITSF Chapler•82.45 HCW - Chapler 458-61 WA(, by cushier For Use all Counly 't'reasurer's Office. (t Ise Doral No 84-00ul I Iof Reporting"I l,utsI'm of Conhollifig Interest of 1'lit il) Ox"lership to the I)eparUnenl of Revenue This Affidavit Will Not lie Accepted Unless All Areas 1-7 Are Fully Completed. Nance Thomas H. Williams Name__.City_of Renton, am Gladys Hiatt w _ S,11e, 13329 SE 253rd PL s,1Ce, 1055 S Grad Wa W`e Kent, WA 98042-5633 u v I Renton WA 98055 (,its Stale/.IP ('il /Slab//,t, r la AIJURI S.1,P I NFNI,At 1.l'Rul'1'.R1I IAX NFTA IH COR 11,Is"WONIA:W I ALI. I AX I'ARt'LI NIJNIIII;1(S (:()wi Y'rRPASUKRR PLACE ASESSEU VALUE IFTAX EXEMPT Namc salve as Grantee _ 5696000090 S n cel City'Slalc/it) ® 1.1CAI I)FSCRIPHON0F1'RUIFRI'1 SI'II!AI'I•:UIN ❑ IININC(tl(14M,111•:I) _ _('011NTY,OR ® IN CITY 01; Renton Sheet Addless(it ptopcoc isingnot'ed) . 603 S 2nd. Street,__Renton, WA _98055- Lots 9, 10 & 11, Block 2, Motorline Addition to Renton, according to the plat thereof recorded in Volume 9 of Plats, page 50, in King County, Washington. EXCEPT the east 6 feet of Lots 10 and 11 as conveyed to the City. ,of Renton for street purposes by Deeds recorded under Recording Numbers 910191 and 910190. Is flus I'lopclt) Con(,ally: 1'I S No Descri�ition of Tangible Personal Property if Included In Sale. (Furni ore, Appliances, etc.) Classified or desi(;naled as linest land? [-j kI Chapter 84.33 RC,W N/A Classified as cullenl use land liopen space, fare) and agricullmal,or timber)? ( hapler 94.34 ROW If exemption claimed, list WAC number and explanation. Fxenlpl from ploperly lax as a nonpntfil WAC Nu. (Sec/Sub olganii.atioll? Chapter 84.3(1 RCw )Seller's kxcntpl Rel;. No Explanation--taransfer tcl_ _ity__of_Renton,_a_WA— ReceivIlT Tecial Valuation as historic ❑ (x] municipal corporation under threat of exercise plopclly'. (' taptel 94.26 RM of--eminent _dorima n. ---- ------ - Property Type: ❑ hind only ❑ land will) new building Type of Document __ _ ---- Statutory Warrmty_ -eed— [N land )"fill pleviously used building [) land with nubile hone 13 El limber only ❑ hnilding only Date of Document ____--December - .-19-9-9---_ I'rinci tut Use: nliatl Crass Sale Price $A0-5 000.0©------ --,- p ❑ Apt(4 1 unll) ❑ Icsidc ❑ Innbel (.] aglicultmal [XJ colnntrtriltl/indushi;tl Personal Property(deduct) $--N/A-__-_--__--- -- ❑ other _ _ - _- _____---_ 'Taxable Sale Price $ 0 Excise "Tux: Stale $ (1)NO-1 R4. OF CONTINUANCT(IW\V 81 33 (IIt RM 8.1 14) ------- __..- __----___-- 11 (lie nr)r omlt.r(s)of land that is classtiv-.d or designallxl as rumen( nrr Local $ 0 III Cow-sl land ,t i:oh to cOIIhlMr. the cla1silira(io11 or d1'.SIV alion ol'Snrh Delinyuenl Interest Slate $ 0 land, (lie nr\) omlcr(s)must sign below. Iflhc nc)v otvnrr(s)du nal Local 8 0 desile to continuo such classllicalion of desigtuttion,all rontpellsalillp of --- ---- -- —_-- additional t,t\ ,alp Milled pulNuanl to IWkV 84 )t 120awl wl 1,10 or IW\V I)elintluenl 1'I•n:tlty: Stale $ Q-- 81 VI 108 shall hr-Inc and payahlc by the seller or lransfctol all tilt, lino' Total Due $ _2_.0_0 --- - - -- ---_- o( meat drlelp)inc it the land I1:11tNli-1wif I IIIAM Is's $1.uo 1 E F(1R 1'ROCESSING'I•IIIS FORM IF NO TAN IS n111S yual)li.••c to conlinnc lassiliralion of dl::ignatlion and IIIII!J so indica,,• _._-.- ._ _ ._....__.____._ -...._ ------ __..__-_-- hrint( `il,n:Ilnl. ;,II,ool m•rt•NN,oily n❑•an Il) billd \•,ill lVill:1111 ut MM AFFIDAVIT rla•:Nilir;Illill "I 1 ,ihn,lilnt If it no lungrt 4.111;dIlirs, it will he mato"-I I (ellil;y untie( tonally of perjury under lite MINS of the Stale of an,l Il)• t nn11n nsaltilt! lat(s twill lw np,plied All nsw ot(nrtr,;musl Nilm "Viislliogton 111:11 Ilse foregoing is Irne and correl t. (See hack of farm) I'llis Ia11d I_I flocs (^I dors nal Ilualik. lir (onlinnance. Date oI- Ucpull'Assessor 1• Z._.?2.__1. _ (2) NOTIC'F OF C OMI'LIANCE(Chap1et 8,l 20 R('\V) Milne(print) II'file Ile)e ouitrlls)of plopell)f with special valuation as histolic Date& flare of Signing 12 z2 Renton proprll) )wish to c�,nlnntc this spcclal val)talion,this Ilea ownrl(s)11111"1 / IJ/99.._-_-- _ .__H11__ sign helow. II the net.+ ownel(s)do not desire In conlinne such special valuatloll,all ;it tax calettlalcd pursuant to('hallo 9,11 N, IW\V, nuhucnte( / Al enl Shall be due and pa)ablc by(lie scllrr of Ilanslcror alllhr Inne nl (:ta sack (3)OWNERS)SIGMA HIRE, Nance(print) /D4.(J10 M._a LX=1q Ilatle&, I'laceol "ignitth 12//3 /99; Renton, W11 11(►jnr}: is :I d;lss C felony which is ltuuishable h\ ilnp)Ik4,Inlne1lt in a stale colreclion:11 institution fora n►aXinurin tont of not Illow lhan filve scats, lir I)y a tine ill an alnonnl lixcd by Il)(• t,)nrt oh licit more Il);u► fisc Ihollsand dollars ($5,000.00), or by toil in►lalsonn►cnl and fine (IZC1N 9A.2(LU2U (lC)). Olin— 141V .V Xd 0001a(2-10-98)(1'1)3-20-98) 1'OR 1•RFASURI?R•`, IJSI,'Ot`II.Y OlIN"I'1' '1'KIsARUIZI'IZ JUL-13-1999 14:40 FROM Dally Homes Inc TO 4254307300 P.01 low RECEIVED JUL 9 3 9999 } DALLY HOMES ECOMOMIC UE*W'L.'.: I y Cox P O R A T F. n A(�11p7$i7�F9A? 1B PW-"t10#Z1 ■ "Ettd+lu'•t Qualrn-T'T+tnca Value" July 13, 1999 Sue Carlson Economic Development City of Renton 1055 S. Grady Way Renton,WA 98055 RE: BURNETT SITE Dear Sue: Attached is an extension agreement to get us through the SEPA Review and appeal notice period. Please have Mayor Tanner sign as soon as possible. Logically, if the neighborhood appeals we will need to extend further. Call me if you have any questions. Sincerely, DALLY HOMES,INC. Donald F. Dally President Enclosure 3316 FvHRMArI ASE.F. • SUITE 100 - SFATfLE,WA 98102 • (206)328-3770 • FAx(206)328-6909 • 4DALLYHI120L7 8 recycled paper JUL-13-1999 14:41 FROM Dally Homes Inc TO 4254307300 P.02 Saw V ADDENDUM A TO PURCHASE AND SALE AGREEMENT BETWEEN DALLY HOMES, INC. AND CITY OF RENTON 1. Extension of Feasibility: Purchaser and seller agree to extend the Feasibility Period as referenced in Paragraph 3.1 of the Purchase and Sale Agreement dated March 25, 1999 for an additional 30 days to August 14, 1999. 2. All other terms and conditions of the Purchase and Sale Agreement shall remain in full force and effect. CITY OF RENTON DALLY HOMES, INC. J � Ak�se May Donald F.Dally Hom ATTEST Marilyn . e ersen, City Clerk TOTAL P.02 'rr.✓' I/ 0V a �• 50011 RECF61 6 ( ' JUL 151999 ECOMOmicF Z NEIGH80PW)t:,. LM AND STPA"!FGii DALLY HOMES ■ ..1::•t,r:,rr,l(roli /rnrl, lrrli,... July 13, 1999 Sue Carlson Economic Development City of Renton incc c sem.) I.Vai Renton, WA 98055 RE: BURNETT SITE Dear Sue: Attached is an extension agreement to get us through the SEPA Review and appeal notice period. Please have Mayor Tanner sign as soon as possible. Logically, if the neighborhood appeals we will need to extend further. Call me if you have any questions. Sincerely, DALLY HOMES, INC. Donald F. Dally President Enclosure 3316 1"111IRNIAv Ave. E. - Srrrr 100 Sr:\rn . WA (C CM ;'R-;77() F\\(706)32-8-6909 #DAI TY1111201-7 recyc1cd paper 1490, *me ADDENDUM A TO PURCHASE AND SALE AGREEMENT BETWEEN DALLY HOMES, INC. AND CITY OF RENTON 1. Extension of Feasibility: Purchaser and seller agree to extend the Feasibility Period as referenced in Paragraph 3.1 of the Purchase and Sale Agreement dated March 25, 1999 for an additional 30 days to August 14, 1999. 2. All other terms and conditions of the Purchase and Sale Agreement shall remain in full force and effect. CITY OF RENTON DALLY HOMES, INC. Jesse Tanner, Mayor Donald F. Dally Hom Scott $mouse Commercial Escrow` ialist i' Escrow Advisoyp►ficer CE COMPANY *` kTTLE, WA 98104 (206) 628-5666 FAX (206) 628-9737 Chicago Title Insurance Company c' y SEATTLE OFFICE 1800 Columbia Center ` p' ESCROW DEPARTMENT (206)628-5693 701 Fifth Avenue s Fax(206)628-9737 Seattle,WA 98104 PO Box 626 Renton,WA 98057 REGARDING: Escrow Number: 482757-SS Buyer: DALLY HOMES, INC. Seller: CITY OF RENTON Property: LOGAN AVE. S.,RENTON,WASHINGTON Dear Mr.Warren: We are pleased to have this transaction placed in escrow with us for closing. A copy of the Preliminary Commitment for Title Insurance and Supplemental No. 1 have been enclosed for your information. Per paragraph 9 on the Commitment,please provide us with a copy of appropriate resolution and authority prior to closing. A new requirement for 1997, is the Washington State Utility issue. Please sign the attached Waiver and return in the attached self-addressed stamped envelope.If you choose not to waive this requirement please contact the undersigned to discuss the fees charged for this service The documents prepared under the terms of your transaction will affect your legal rights and duties and those of the parties. The interest of each party to this transaction will differ and our responsibility is to be equally concerned with all. The escrow officer under the law,may not advise the parties of their legal rights and duties created by this transaction. If you have any questions, you will want to seek the advice of your attorney. If you should have any questions please feel free to give the undersigned a call at(206)628-5693. Ve roy yours, Scott Smouse Commercial Escrow Specialist SS/kl encl. FIRST ADDENDUM TO PURCHASE AND SALE AGREEMENT BETWEEN DALLY HOMES, INC. AND CITY OF RENTON 1.0 Parties 1.1 This First Addendum is made and entered into by and between Dally Homes, Inc., a Washington corporation ("Dally"), having its principal place of business at 3316 Fuhrman Ave. E., Suite 100, Seattle, Washington, 98102, and the City of Renton, a Washington municipal corporation ("Renton") having its principal place of business at 200 Mill Ave. S., Renton, Washington, 98055. 1.2 Title to the Property described in the Vacant Land Purchase and Sale Agreement to which this Addendum is attached shall be taken in the name of Renaissance L.L.C. 2.0 Recitals 2.1 This First Addendum ("Addendum") is attached to and incorporated in that certain Vacant Land Purchase and Sale Agreement between the parties dated November 10, 1997 (the "Agreement"). Both documents are, together, intended to carry out the Memorandum of Understanding ("MOU") between the parties for construction and implementation of the Project (as defined below). In the event of a conflict between the MOU and this Agreement and Addendum, the latter shall control. 2.2 As part of Renton's redevelopment of downtown Renton, Renton wishes to undertake certain capital improvements involving reconfiguration of streets, creation of public park land, establishing additional parking, and construction of a commercial/retail "Piazza" building and Metro Transfer Station in the area of Morris Avenue South, South Third Street, Cedar River Pipeline and Logan Avenue South (collectively, the "Project"). In addition, Renton is selling the Property pursuant to this Agreement for the purpose of Dally's construction of an upscale, multistory apartment building with tenant parking and commercial/retail facilities (collectively, the "Complementary Work"). 2.3 Throughout this Addendum, the parties have used the phrase "the parties shall agree" to indicate that they shall continue to consult, in substantial depth and in good faith, on the subject matter of the agreement. Dally understands and acknowledges that, as a municipal corporation, Renton is obligated to use certain processes in order to take certain 144776.3/33pk (16211.1) FIRST ADDENDUM TO P&S AGREEMENT I ORIGINAL actions or reach certain results. Without limiting those obligations, the intent of the parties is to bind themselves to the undertakings set forth herein to the maximum extent permitted bylaw, and to take all steps necessary to continue and/or complete those actions in a spirit of cooperation and desire to make Renton's new Town Center Project and the Complimentary Work a success for all concerned. Nothing in this Addendum is intended to give or imply that Dally has a veto power or privilege over legislative actions of the Renton City Council. 3.0 Requirements and Representations 3.1 Approvals. By entering into the Agreement and this Addendum, each party represents and warrants that it has taken or will take all necessary steps to authorize, completely fund, and otherwise undertake and complete the Project Elements and Complementary Work for the Project, as defined in the MOU and as modified by this Addendum, and each party further represents and warrants that except for such actions no other financing, funding, acquisition, preliminary approval, or similar action remains to be taken with regard to the Project. 3.2 Logan Avenue/South Third Street Intersection. A gateway feature and key focal point for the Project will be created by Renton at the northwest corner of South Third Street and Logan Avenue South as set forth in Paragraph 1 of Ms. Susan Carlson's September 26, 1997, letter to Don Dally, attached to this Addendum as Exhibit 1. The parties shall agree on the specific improvements within the general parameters set forth in Exhibit 1. The minimum budget amount approved and allocated by Renton for these improvements is Fifty Thousand and No/100 Dollars ($50,000.00), which may be increased through Renton's 1% for the Arts Program. Renton shall complete construction of these improvements on or before the time Dally is ready to request a temporary occupancy permit for the Complimentary Work. 3.3 Piazza. A central piazza will be created by Renton at the location of the former Sound Mazda dealership as set forth in Paragraph 2 of Exhibit 1 to this Addendum. The parties shall agree on the specific improvements within the general parameters set forth in Exhibit 1, to include the following minimum actions: 3.3.1 Phase I. Phase I of the Piazza work shall include: demolition of the Sound Mazda structure; assessment and removal of all hazardous waste on the site; removal of associated asphalt; site preparation, seeding and grounds maintenance; purchase and installation of benches, street/piazza plantings and flower pots; and cleanup, painting and maintenance of the Old Ford Garage. The minimum budget amount approved and allocated by Renton for this work is Two Hundred Thousand and No/100 Dollars ($200,000.00). Renton shall complete the work and improvements not later than March 31, 1998. 144776.3/33pk (16211.1) FIRST ADDENDUM TO P&S AGREEMENT 2 3.3.2 Mazda Garage. Renton shall ensure that a "quality" user, suitable to the nature of the Project, is obtained for the Mazda Garage in consultation with Dally. Until such time, Renton shall maintain the exterior appearance of the Mazda Garage in a manner appropriate to and consistent with the nature of the Project. 3.3.3 Phase II Master Plan - Planning. Concurrent with the implementation of Phase I, Renton shall begin and complete a Phase II Master Plan for full build out of the Project. Dally will be allowed substantial input into the planning process with the intent of ensuring compatibility of the Phase II Master Plan with the Project. Renton shall also develop a funding plan sufficient to fully implement the Phase II Master Plan and improvements within the time frame contemplated by this Addendum. It is intended and expected by the parties that the Phase II Master Plan will be a continuation of the Phase I improvements and will provide for a fully functional park and Piazza facilities with all of the amenities suggested in Paragraph 2 of Exhibit 1. Renton shall complete and approve the Phase II Master Plan and funding plan not later than May 31, 1998. 3.3.4 Phase II Master Plan - Implementation. Engineering and design work on the Phase II Master Plan shall begin promptly after its approval by the Renton City Council. Completion of the adopted Phase II Master Plan improvements shall be diligently pursued by the City, subject to the funding plan, with the intent of completing construction by April 1, 1999. 3.4 Logan Avenue Street Improvements. Improvements to Logan Avenue South between South Second Avenue and South Third Avenue will be created by Renton as set forth in Paragraph 3 of Exhibit 1. The parties shall agree on the specific improvements within the general parameters set forth in Exhibit 1. The minimum budget amount approved and allocated by Renton for these improvements is Three Hundred Fifty Thousand and No/100 Dollars ($350,000.00). Renton shall complete construction of these improvements on or before the time Dally is ready to request a temporary occupancy permit for the Complimentary Work. 3.5 Seattle Pipeline Right of Way. The Seattle Pipeline Right of Way shall be acquired by Renton through lease with the City of Seattle or otherwise for not less than the useful life of the Complementary Work, with uses and improvements as set forth in Paragraph 4 of Exhibit 1. The parties shall agree on the specific uses and improvements within the general parameters set forth in Exhibit 1, including but not limited to the following: Renton agrees to approve primary access to the Complementary Work via the Seattle Pipeline Right-of-Way and to provide not less than 25 parking spaces at that location for exclusive use of Project residents daily between 6:00 p.m. and 8:00 a.m. The parties will specify the details of the parking arrangements in a separate letter agreement supplemental 144776.3/33pk (16211.1) FIRST ADDENDUM TO P&S AGREEMENT 3 to this Addendum. The minimum budget amount approved and allocated by Renton for these improvements is Two Hundred Fifty Thousand and No/100 Dollars ($250,000.00). Renton shall complete the lease transaction with the City of Seattle and construction of the improvements on or before the time Dally is ready to request a temporary occupancy permit for the Complimentary Work. 3.6 Property Acquisition. Renton shall acquire by donation, purchase or condemnation, and shall thereafter improve, the 18 foot strip described in Paragraph No. 5 of Exhibit 1. Renton will complete its acquisition of the property (or obtain a declaration of public use and necessity) on or before completion of the garage (to be constructed as part of the Complimentary Work)to provide access to Dally. Construction of the improvements shall be completed on or before the time Dally is ready to request a temporary occupancy permit for the Complimentary Work. The minimum budget amount approved and allocated by Renton for the acquisition of the 18 foot strip is Thirty-Five Thousand and No/100 Dollars ($35,000.00). 3.7 Mitigation Fees. Mitigation fees for the Project in its current configuration will be approximately One Hundred Twenty-Six Thousand and No/100 Dollars ($126,000.00). If the actual amount of mitigation fees for the Project in its current configuration exceed this estimate by more than five percent (5%), then Renton will waive or pay such overages. 3.8 Fast Track Permitting. Renton agrees to use its best efforts, consistent with the constraints imposed by State and City laws, to expedite the review and approval of all permits required for the Project, including the Complementary Work. Renton agrees that Dally may submit applications for building permits at any time during the SEPA process for the Project and Renton shall review such permits concurrent with the SEPA process. 3.9 Downtown Water Main. Renton shall install a water main, or otherwise provide a water source, of sufficient capacity to provide fire protection for the Complementary Work in accordance with all applicable laws. Renton will complete construction of the water main or other source in sufficient time that the street above the water main can be completed on or before the time Dally is ready to request a temporary occupancy permit for the Complimentary Work. Renton's estimated budget for these improvements is Four Hundred Thousand and No/100 Dollars ($400,000.00). 4.0 Earnest Money. 4.1 Concurrent with execution of this Agreement, Dally has paid a nonrefundable earnest money deposit in the amount of Thirty-Five Thousand and No/100 Dollars ($35,000.00)by tendering to Renton a promissory note in the amount of Twenty Thousand 144776.3/33pk (16211.1) FIRST ADDENDUM TO P&S AGREEMENT 4 and No/100 Dollars ($20,000.00) and cash in the amount of Fifteen Thousand and No/100 Dollars ($15,000.00), both of which shall be deposited with the Closing Agent in escrow account for the transaction. The entire earnest money amount shall be applicable to the purchase price of the Property. 5.0 Closing. 5.1 This sale shall close not later than thirty (30) days following written notice to Dally that Renton has internally approved and is ready to issue the building permit for the Complementary Work. The building permit shall thereafter issue at Dally's request. 6.0 Environmental. 6.1 Renton represents and warrants to Dally that, as of the full execution of this Agreement, Renton has disclosed to Dally all information, knowledge and reports concerning the environmental condition of the Property. Renton represents and warrants to Dally that, to Renton's best knowledge, the environmental status of the Property is completely and accurately described in the Phase I Property Assessment prepared by Dames & Moore and dated April 27, 1995. 6.2 Dally and its representatives, prior to the closing date, will be afforded the opportunity to make such environmental inspections of the Property as Dally desires. The details of that investigation will be set forth in a separate letter agreement supplemental to this Addendum, and will involve soil sampling of the Property. Dally has been provided copies of environmental survey documents prepared by consultants for Renton. Dally acknowledges that the Property is being sold or conveyed to Dally in an "as is, where is" condition, but such acknowledgment shall not constitute a waiver or release of any claims Dally may have for the existing environmental condition of the Property. 6.3 Renton has owned the Property for a short period of time and has conducted no activities on the Property other than a short extension of the automobile sales function performed for an extensive period of time by the prior owner. Dally has had no connection with or ownership of the Property at any time prior to this Agreement. As between themselves, the parties assume the risk and responsibilities related to the Property as set forth in RCW Chapter 70.105D. Notwithstanding the foregoing, nothing in this Section 6.0 implies an obligation for either party to indemnify the other against claims or liability for response or cleanup costs to the extent such party is not liable under applicable law for such costs. 144776.3/33pk (16211.1) FIRST ADDENDUM TO P&S AGREEMENT 5 6.4 The parties acknowledge that notwithstanding any prior contemporaneous oral or written representations, statements, documents or understandings, this Section 6.0 constitutes the entire understanding of the parties with respect to the subject matter hereof and the purchase and sale of the Property, and supersedes any such prior or contemporaneous oral or written representations, statements, documents or understandings. CITY OF RENTON: DALLY HOMES, INC.: Jesse Tanner, Mayor DATE DON DALLY, P ENT DATE ATTEST: Marilyn V te ersen, DATE City Clerk . 144776.3/33pk (16211.1) FIRST ADDENDUM TO P&S AGREEMENT 6 Ut.l -YJL 1JJ1 1J' l..i 11 �I1 ✓f" �I �.� I. I .�- Iv _ ____ _ _._ CYT.Y,, O)F R ',NTON Mayor. MAL Jesse-Tanner. September 26, 1997 Mr. Dort Dally Dally Homes 3316 Fuhrman Ave E., Suite 1000 Seattle,WA 98102 Dear Mr..Dally: The purpose of this letter is to formally advise you that the,City of Renton is ready to proceed with.the Dally Homes Project. We have.reviewed:the items outlined in Exhibit A of the Memorandum of Understanding signed by Dally Horses and the City in June. At the City Council meeting of August 18, 1997,the.Council approved the reallocation of existing funds and new funding required to complete the following public infrastructure improvements: I. Reconfiguration and/or realignment of the intersection of Smithers,Eagan and Third Avenue: Although this idea was originally thought to hake piiblie benefit by providing a smoother traffic flow and expanded fuming radiuses"upon further review both Dally Homes and City staff determined that'this-wa's'not a good idea_ Reconfiguration would draw traffic to Logan and would nO�contribute to the'ambiance that Dally Homes is seeking." An alternative suggested by.the City-and approved by.Dally Homes would create a gateway feature and key.focal point at the northwest e_Omer of Third and Logan. Emphasis will be placed on liow this space functions as a gateway and a connection between,the surrounding projects. The relationship to Big Five Sporting Goods which borders the property is also important. -This corner should provide a'transition from the older buildings that front Third'Avenue-arid the Dally project. Landscape - and improvements that have been discussed for this-location include a water'feature' or fountain;moving the clock tower(currently locate&..in the-transit center)to this location,benches, street trees and a kiosk v oth a map.of downtown businesses. This would provide the Dally Project with a focal.poini On Third and would also create the impression that the Piazza extends across Logan and-connects with improvements to the Seattle Pipeline Right of Way. $50,000 has been budgeted for this project. The City's 1%for-the Arts Program could be-used to supplement this budget. Budget: $50,000 Timeline: - Completed by March, 199.8.. . WHOM 200 Mill Avenue South -Renton,Washington.98055.-:(206)235-2580/FAX(206)235-2532 ®TMe, paper camaft lc sox recycles ffatMW,W%pea e&wnrw Ul-.I-VJG-177 f 17• 10 rKUI'I 1'' L I 1.U1'IV HIV 1 t✓ I U .�-ruvU✓u f .u.J Dally Homes Page 2 2. Completion of Phase I development of the piazza and Master Plan for1inal development: The City recently purchased the former Sound Mazda auto dealership to redevelop into a town square or"piazza". In Italy, the piazza is the central gathering place for the city and its residents and becomes the place to gather,talk, celebrate important. events and makc community connections. The City envisions Renton's piazza as having many of these same elements. It will be the location of the community Christmas Tree and a place for special events. It might contain a water feature or a fountain, an amphitheater for small concerts or plays- It will have comfortable . seating,pedestrian-scale lighting and public art- Architecturally, it will reflect the craftsman theme by including subtle design elements,such as decorative iron .brackets,more emphasis on stone and colorful banners. The first phase of this project will be completed in March of 1998,and will include the demolition of the Sound Mazda showroom,removal of-all-hazardous waste-on.. the site, clean up and painting of the Old Ford.Garage,tearing.up the asphalt'and seeding with grass. It will also include.-the-purchase of benches,some flower pots and planting, $200,000 has beef'budgeted for this-.portiori of the projmt. Concurrent with the first phase,'the City_will begin-iiVA•on the Master Planning for. full build out of the pzti�ject:--Phis<process will beginin S.otember and be completed by Match, 1998. Please see the attached agreemeftt,With Eifzen's for Piazza Renton (CPR) on their role;:m theproccss, and°C`Pi ..`s-:vision-for vVhaf,;the Piazza could include. $35,000 has been=allocated:i`Or-tliis..prdject. Phase TI of the Piazza pxoject�vvill l gm.hs`soon as the 1V1`ester�I'lan is completed in March.Funding of alis project:is the`ciitical-element and the City will begin to develop a funding Oan as: Oad' as,tlie`extent of dlhe project is;defined by the Master Plan.Depending on thrr`sc.ope of the recommended`inttrovements, funding will either be through couhCjhnati&bonds,GO bon&-&-fro'ifudie general fund. The City is committed to the Nam` and:inteitds to ye'.forward`to complete Phase 11 as.soon a possible. Assuming that eit$irieering dud design b. n in the Spring of 1998, construction on Phase II could�beg n in either-t#te Fall of 1998 or the Spring of 1999: During the master planning process for the Piazza, Dally Homes is welcome to have a representative attend meetings to monitor progress and provide input. Budget: Phose I of Piazza: $200,000 Master Plan for Please Hof Piazza. $35,000- Timeline.- 35,000Timeline: Complete by March, 1998 3. Street Imlprovements to Logan Avenue between 2nd and 3rd: Improvements proposed include: widening the sidewalks, adding street trees.and amenities,pedestrian-scale light fixtures,improvement to facilitate transit and provide on-street pazking immediately adjacenf to the Dally Homes project on the west side of Logan. The following improvements have been identified: UC l-1��-1yy'T 1y; 1b NKum P"' LY l Ul`lf Fi(VltS IU ] Ir00J0 r .e4 Dally Homes ..oe Page 3 • Sixteen-foot sidewalk on the west side of Logan • 12-foot sidewalk on the east side of Logan • Two 12-foot travel lanes • Street trees • Pedestrian Lighting • 8 - 10 on-street parking spaces on the west side of Logan • Bcnches,waste receptacles,tree grates in the craftsman style Budget: $350,000 .Timeline: Complete by October, 1998 4:Leasing the Seattle Pipeline Right-Of Way(ROW)'and developing public parldng with a pedestrian walkway: The City is currently negotiating a lease with the City of Seattle for use of their pipeline ROW for parking and a non-motorized'trail that:will serve as.a connection between.the Piazza on the Est and-Reinter venue on the West- (please see attached draft lease). The term of the'le'asdbettvden the City"d Renton and the Seattle Water Utility Nvill be 15 years,with an option,fa renew.1h. 41i,it�cess to the parking : garage for the pally H6mes."prvj.. will be fio'tn the.pipplil e. easement. There will a secondary access to,ihe'pa*k ng garage from the alley-6n the north side of the. property in the event that the SeattleVaterUt ity.needs-to4dQ,re'pair work on the pipeline. The Downtown Rent&in Revita}zatiori Matt;,a opted by the Ciiy in 1993, calls for the, development of the Seattle�.Wateiline 1tiihi-0.f--Way ROW:as:an urban,trail interspersed with si�tall poc.ket#Vk 'iiiid parkigg for-adjacenVuses. Staff has developed a plan that would.add 45 parking spaces as-'we`ll as provide landscaping and a pedestrian trail.'This kneiiiity.will serve as'.a"baf'fer b&ween the backs of: businesses fronting on Third::A`Geiiue:..S aid o 'tie�8ig.5.,afore, and the Dally project. This also provides Dally with.an off sheet enixance firiAhe parking garage which.will allow additional landscaping opportnities,on ilfiorris Avenue...Dally Homes will enter into an agreement with the%City.to lease the'45 parking spaces from 6 p.m.to S. a.m. fbr visitor parking. Budget: $250,0.00. Timeline: Complete by October, 1998 or'wheri occupancy permit issued for Dally project- 5. roject5. Purchase of narrow strip of property on-the.north-side of the Seattle Plpeline ROW for inclusion into the improvements to the-Seattle pipeline ROW: Staff has contacted the property owner about selling or donating this property to the City. The strip is l8 feet wide and will be improved by the City as part of the Uk-.1-YJG-1 JJf L-1 1 I\UII 1 u _ Dally Homes Page 4 parlang lot and trail described above. The City has condemnation authority to purchase this property under state law. Budget: $35,000 Timeline: Fall of 1997 It is understood that the implementation of these public improvements are contingent upon Dally Homes' purchase and development of the property.Estimated cost to the City for completion of these items is$920,000. In addition to the physical improvements,the City and Dally Homes have agreed to the following-items: • •Mitigation Fees Based on preliminary review of building size and number of proposed units,the mitigation fees for this project will be approximately$126,000. These numbers are subject to revision if the size of the�project.changes. • "Fast Track"permitting The City of Renton hu xatiiinea-the proposed".-timelines for review and. permitting of this development: ,S��'A.and Stte pis h,review will take approximately 12.`�weel' .•Burl'ding peimits-iiay•be sirs e.d at any time during the SEPA process..and°cau'be reviewed concuirgAy.-*•-,'The City recognizes the time-sensitive;nat w--of this 4oftlopment-and ts-co,mmitted to working with Dally Homes;`-within the coristraints.Mquired-by State and City codes. • Downtown Water!'.Main - As part the City `s Capital:., pr"i v"orn t Ilan, a,water mait4 sufficient to provide fire flow to-theAally Homes project,jss.sC6iuled to be installed by the City by late spririg, timing for-installtion d`f the water main will be coordinated with Dally,Hoaies.;fo'e figure adequate fire protection to this project- Budget for this project-is restiniafM,to-be=$6L)0;006_ Assuming.that-Dally Homes is in agree n t ith'tYie City's approach to the issues outlined m the Memorandum of Understanding,the-City would like to move forward with this project and begin negotiating,the actual purchase.and sale agreement for the .. property-. Please advise me as soon as possible of any rerhainibg issues-that need to resolved. Sincerel , Susan Carlson Economic Development Director TOTAL P.05 EXHIBIT A LEGAL DESCRIPTION PARCEL A: LOTS 6 AND 7, BLOCK 1, SMITHER'S SIXTH ADDITION TO THE TOWN OF RENTON, ACCORDING TO THE PLAT THEREOF, RECORDED IN VOLUME 26 OF PLATS, PAGE 47, IN KING COUNTY, WASHINGTON. TOGETHER WITH THAT PORTION OF THE ALLEY ADJACENT TO SAID LOT 6 VACATED BY CITY OF RENTON ORDINANCE NUMBER 2779, WHICH ATTACHED BY OPERATION OF LAW. PARCEL B: LOT 2 THROUGH 5, INCLUSIVE, BLOCK 1, MOTOR LINE ADDITION TO RENTON,ACCORDING TO THE PLAT THEREOF, RECORDED IN VOLUME 9 OF PLATS, PAGE 50, IN KING COUNTY, WASHINGTON. 147321.1/359(14189.1) NWMLS Form No.25 ®Copyright 1997 Vacant Land 1 of 3 Pages Purchase 8 Sale � �vNorthwest Multiple Listing Service Page 1 of Rev. ALL RIGHTS RESERVED VACANT LAND PURCHASE AND SALE AGREEMENT . THIS AGREEMENT AFFECTS YOUR LEGAL RIGHTS. YOU ARE ADVISED TO SEEK LEGAL ADVICE BEFORE SIGNING. Date: NOvefrber 10 , 1�97 1 The Buyer, DALLY HONES, INC. Or A&ASSignS agrees to buy and seller agrees to sell,on the following terms, 2 which constitute the entire understanding of the parties and supersede all prior or contemporaneous understandings and representations,the property known 3 as/at/near Logan Ave. S. at Ceche River Pipe Line City of Renton Kim County, 4 Washington,Zip: legally described ❑as attached W as follows: SPP Pxhi hit A. 5 6 7 (Buyer and Seller authorize Selling Licensee or Closing Agent to insert or correct,over their signatures,the legal description of the property). Except in paragraph 11,the terms 8 "Listing Agent"and"Selling Licensee"mean the real estate company. 9 1. PURCHASE PRICE. The purchase price is Three 4 rch-ed Fi ft_y-FnLjr Thousand Fair HI d'xh:ed Three & no/100 Dollars to $ '15414M ,including the earnest money. 11 2. METHOD OF PAYMENT. All cash at closing" 12 3. PERCOLATION TEST DISCLOSURE.If the property is located in King County and:(a)Is not served by an approved public or private sewer system;and(b)Is to be improved 13 for residential or business use;Seller agrees to deliver to Buyer the Percolation Test Disclosure required by King County. 14 4. SHORT PLAT. The property ❑has been. ❑must be 51 is not legally required to be,short platted. if it has been,the Short Plat Number is in the legal description above. 15 5. INSPECTION. This Agreement: See addendd! . 16 X1 is ❑ is not conditioned on a hazardous materials inspection ofthe property and its improvements. 17 The parties acknowledge that the Listing Agent and Selling Licensee have no expertise on these matters,and recommend the above inspections. 18 5a. RIGHT TO FARM AND RIGHT TO PRACTICE FORESTRY DISCLOSURES(Snohomish County Only).The property ❑is ❑is not "designated farmland"or situated 19 within 1300 feet of"designated farmland"in Snohomish County,Washington. (If it is,attach NWMLS Addendum No.22G or equivalent). The property ❑is ❑is not 20 "designated forest land"or situated within 300 feet of"designated forest land"in Snohomish County,Washington. (If it is,attach NWMLS Addendum No.22H or equivalent). 21 6. ZONING. Seller warrants that the current zoning designation is: adMate for plans as submitted to Renton . 22 7. UTILITIES. The property is presently served by a: Rl public water main ❑private well ❑community well R sewer main (A gas main )0 electric distribution line 23 ❑none of the foregoing. The term"served by"means(except in the case of a well)that a main or line capable of adequately serving the entire property abuts or adjoins the 24 property at some point. NOTWITHSTANDING THE FOREGOING,it is the BUYER'S RESPONSIBILITY TO VERIFY within n1a_days (10 days if not filled in) , 25 from the date of mutual acceptance of this Agreement,that any utilities serving the property meet Buyer's needs. If the Buyer does not give notice to the contrary 26 within said number of days,it shall be conclusively deemed that said utilities do meet Buyer's needs. 27 8. CLOSING OF SALE. This sale shall be closed on See addffxJm 19 ,or sooner by agreement of the parties,by Chicago 28 Title Insurance Co. or such other closing agent as Buyer shall designate. P9 9. FIRPTA-TAX WITHHOLDING AT CLOSING.The Closing Agent is instructed to prepare a certification(NWMLS Addendum No.22E or equivalent)that Seiler is nota"foreign 30 person"within the meaning of the Foreign Investment In Real Property Tax Act. Seiler agrees to sign this certification. If Seller is a foreign person,and this transaction is 31 not otherwise exempt from FIRPTA,Closing Agent is instructed to withhold and pay the required amount to the Internal Revenue Service. 32 10. POSSESSION. Buyer shall be entitled to possession IX on closing ❑at 9:00 PM on the calendar day after closing 33 ❑ . "Closing"means the date on which all documents are recorded and the sale proceeds are available to Seller. Seller agrees to 34 maintain the property and included appliances in their present condition,normal wear and tear excepted,until Buyer is entitled to possession. 35 11. AGENCY DISCLOSURE. At the signing of this Agreement,the Selling Licensee Ron Knight (a kbshington real estate broker) 36 Seller and Buyer (Insert name of Licensee and the company name as licensed) represented SJC 37 (Insert Seller,Buyer,both Seller and Buyer,or neither Seiler nor Buyer) The Listing Agent d) 38 (Insert name of Licensee and the company name as license represented 39 (Insert Seller,or both Seller and Buyer) If Selling Licensee and Listing Agent are different salespersons affiliated with the same Broker,then both Buyer and Seiler confirm their consent to that Broker acting as a 40 dual agent. If Selling Licensee and Listing Agent are the same salesperson representing both parties then both Buyer and Seller confirm their consent to that salesperson 41 and his/her Broker acting as dual agents. Buyer and Seller confirm receipt of the pamphlet entitled"The Law of Real Estate Agency." 42 11a. COMMISSION DISCLOSURE.Neither Listing Agent nor Selling Licensee is receiving compensation from more than one party to this transaction unless otherwise stated 43 on an attached addendum,in which case Buyer and Seller consent to such compensation. 44 12. CONDITION OFTITLE.Unless otherwise specified in this Agreement,title to the property shall be marketable at closing.The following shall not cause the tide to be unmarketable:rights, 45 reservations,covenants,conditions,and restrictions presently of record and general to the area;easements and encroachments not materially affecting the value of or unduly interfering 46 with the Buyer's reasonable use of the properly;and reserved oil and/or mining rights. Monetary encumbrances not assumed by Buyer shall be paid by Seiler on or before closing. 47 5�__ INITIALS: BUYER r BUYER SELLER SELLER 48 WHITE—Selling Agent's Copy GREEN—Escrow Copy CANARY—Purchaser's 2nd Copy PINK—Seller's Copy GOLD—Purchaser's 1st Copy NWMLS Form No.25 Vacant Land Purchase&Sale ©Copyright 1997 Rev.6/97 • 4111lor *A111111" Northwest Multiple Listing Service Page 2 of 3 Pages ALL RIGHTS RESERVED VACANT LAND PURCHASE AND SALE AGREEMENT (CONTINUED) 13. TITLEINSURANCE.Seller authorizes Lender or Closing Agent,atSeller'sexpense,toapplyforastandardformbuyer'spolicyoftitleinsurance,withk9("pXK0X'h"jPRR4 49 PAW,"XNAiflation protection endorsements if available at no additional cost. The title insurance policy is to be ordered through QLi aga Title e 50 105trmm CO. title company. Said company is to send a copy of the preliminary commitment therefor to both Listing Agent and 51 Selling Licensee.The preliminary commitment,and the title policy to be issued,shall contain no exceptions other than the General Exclusions and Exceptions in said standard 52 form and Special Exceptions consistent with the Condition of Title herein provided.Iftitle cannot be made so insurable prior to the closing date,then as Buyer's sole and exclusive 53 remedy,the earnest money shall,unless Buyer elects to waive such defects or encumbrances,be refunded to the Buyer,less any unpaid costs described in paragraph 26 hereof, 54 and this Agreement shall thereupon be terminated. Buyer shall have no right to specific performance or damages as a consequence of Seller's inability to provide insurable title. 55 14. CONVEYANCING/PERFORMANCE. 56 WARRANTY DEED. Title shall be conveyed by a Statutory Warranty Deed. If this Agreement is for conveyance of a Buyer's interest in a Real Estate Contract,the Statutory 57 Warranty Deed shall include a buyer's assignment of the contract sufficient to convey after acquired title. 58 SECURITY. If this Agreement is for sale on either a Real Estate Contractor a Note secured by Deed of Trust,the parties agree to the FORM(S)ATTACHED HERETO unless 59 an institution providing financing requires different forms. If Real Estate Contract Form LPB-44 is attached hereto,only those optional clauses in that form required by the 60 terms of this Agreement shall apply. 61 LIABILITY FOR PAYMENTS. The holder is entitled to collect payments on a Real Estate Contract or Note EVEN THOUGH THE BUYER ABANDONS and/or offers to quit 62 claim the property to the holder. 63 PERFORMANCE. Time is of the essence on this Agreement. 64 ASSIGNMENT. Buyer may r%Xassign this Agreement,or Buyer's rights hereunder,without Seller's prior written consent,unless provided otherwise herein. 65 15. UNDERLYING ENCUMBRANCES. If there is an existing Deed of Trust,Real Estate Contract or other encumbrance which is to remain unpaid after closing and its terms 66 require the holder's consent to this sale,Buyer agrees to promptly apply for such-consent and this Agreement is conditioned on it being obtained. 67 16. CONDITION OFWELL.Sellerwarrants the private well(ifany)serving,or to serve,the property:(a)provides an adequate supply ofhousehold and yard water,meeting State Department 68 of Social and Health Services puritystandards;and(b)continued use of the well is authorized by a State Water Right Certificate oris legally exempt from the requirement of a Certificate. 69 17. CONDITION OF SEPTIC SYSTEM. Seller warrants that the septic system(if any)serving,or to serve,the property:(a)is in good working order and Seller has no knowledge 70 of any needed repairs;and(b)is currently not in violation of any governmental,health,construction and other standards,applicable to the property. 71 18. SALE INFORMATION. The Listing Agent or Selling Licensee is authorized to report this Agreement(including price and all terms)to the Multiple Listing Service that 72 published it and to its members;financing institutions;appraisers;and anyone else related to this sale. Buyer and Seller authorize all lenders,closing agents,appraisers, 73 title insurance companies,and others related to this sale,to furnish the Listing Agent and/or Selling Licensee,on request,any and all information and copies of documents 74 concerning the status,progress and final disposition of financing,appraisal,closing,title condition,and any other matter concerning this sale,INCLUDING BUYER'S 75 CREDIT REPORT. (FHA regulations prohibit lenders giving credit information to anyone on FHA loans). 76 19. SEATTLE REQUIREMENTS. If the property is in the City of Seattle,Seller agrees to deliver to Buyer a"Certificate of Land Use and Local Assessments"complying with 77 the Seattle Ordinance. 78 20. CLOSING COSTS AND PRORATION. Seller and Buyer shall each pay one-half of escrow fee. Seller shall pay real estate excise tax. Taxes for the current year,rent, 79 interest,and lienable homeowner's association dues shall be prorated as of closing. If any payments are delinquent on encumbrances which will remain after closing, 80 Closing Agent is instructed to pay them at closing from money due,or to be paid by,Seller. 81 21. NOTICES AND COMPUTATION OF TIME. Unless otherwise specified,any notice required or permitted in,or related to,this Agreement must be in writing and signed 82 by any one Buyer or Seller(including either husband or wife). Seller appoints Listing Agent as Seller's agent and Buyer appoints Selling Licensee as Buyer's agent to 83 receive notices and all other documents relating to this transaction that may be delivered from one party to the other,including but not limited to Seller's Real Property 84 Transfer Disclosure Statement(RCW 64.04),condominium resale certificates,land registrations and any additional written notices,responses or communications relating 85 to such documents. The party to whom a notice or any other document is directed shall be deemed to have received and to have knowledge of the contents of the notice 86 or documents upon receipt by or at the office of the party's appointed agent.Anytime limit applicable to a notice shall commence on the day following receipt of the notice 87 by the appointed agent or party,and shall expire at 9:00 PM of the last calendar day of the specified period of time,unless the day is a Saturday,Sunday or legal holiday 88 as defined in RCW 1.16.050,in which event the time limit shall expire on the next business day. Any specified period of five(5)days or less shall include business days 89 only. SELLER AND BUYER MUST KEEP THEIR APPOINTED AGENT ADVISED OF THEIR WHEREABOUTS TO RECEIVE PROMPT NOTIFICATION OF RECEIPT OF 90 A NOTICE. SELLING LICENSEE AND LISTING AGENT HAVE NO RESPONSIBILITY TO ADVISE OF RECEIPT OF A NOTICE BEYOND EITHER PHONING THE PARTY OR 91 CAUSING A COPY OF THE NOTICE TO BE DELIVERED TO THE PARTY'S ADDRESS ON THIS AGREEMENT. 92 22. FACSIMILE TRANSMISSION.Facsimile transmission ofany signed original document,and retransmission ofany signed facsimile transmission,shall be the same as delivery 93 of an original. At the request of either party,or the Closing Agent,the parties will confirm facsimile transmitted signatures by signing an original document. 94 23. BUYER'S FUNDS TO CLOSE. Buyer represents that Buyer has sufficient funds to close this sale in accordance with this Agreement,and is not relying on any contingent 95 source of funds or gifts unless expressly set forth elsewhere in this Agreement. 96 24. ADDENDUMS. In addition to any other Addendums referred to in this Agreement,the following Addendums are attached hereto: O None Fit 97 Addendun to Purchase and Sale Agrwrient Between Dally Hanes, Inc. and City of Rertm 98 25. DEVELOPMENT AND/OR CONSTRUCTION-FEASIBILITY AND COST. IT IS THE BUYER'S RESPONSIBILITY TO VERIFY within days(15 days 99 if not filled in)from the date of mutual acceptance whether or not the property can be platted,developed and/or built on(now or in the future)and what it will cost to do this.BUYER 100 SHOULD NOT RELY ON ANY ORAL STATEMENTS CONCERNING THIS MADE BYTHE SELLER,LISTING AGENT OR SELLING LICENSEE.BUYER SHOULD INQUIRE 101 AT THE CITY OR COUNTY,AND WATER,SEWER OR OTHER SPECIAL DISTRICTS IN WHICH THE PROPERTY IS LOCATED.BUYER'S INQUIRY SHOULD INCLUDE,102 BUT NOT BE LIMITED TO:BUILDING OR DEVELOPMENT MORATORIUMS applicable to or being considered for the property;any SPECIAL BUILDING REQUIREMENTS,103 including setbacks,height limits or restrictions on where buildings may be constructed on the property;whether the property is affected by a flood zone,wetlands,shorelands 104 or other ENVIRONMENTALLY SENSITIVE AREA;road,school,fire and any other GROWTH MITIGATION OR IMPACT FEES that must be paid;the procedure and length of time 105 necessary to obtain PLAT APPROVAL and/or a BUILDING PERMIT;water,sewer and utility CONNECTION CHARGES;and all other CHARGES that must be paid. 106 If the Buyer does not give notice to the contrary within said number of days,it shall be conclusively deemed that Buyer is satisfied as to development and/or construction 107 feasibility and cost. If Buyer does so give notice this Agreement shall terminate and the Eamest money shall be returned to buyer,less any unpaid costs. 108 INITIALS: BUYER BUYER SELLER SELLER 109 WHITE—Selling Agent's Copy GREEN—Escrow Copy CANARY—Purchaser's 2nd Copy PINK—Seller's Copy GOLD—Purchaser's 1st Copy NWMLS Form No.25 ©Copyright 1997 Vacant Land Purchase 8 Sale Northwest Multiple Listing Service Rev.6/97, 0 *me *goof ALL RIGHTS RESERVED Page 9 of 3 Pages VACANT LAND PURCHASE AND SALE AGREEMENT (CONTINUED) 26. EARNEST MONEY RECEIPT.Selling Licensee acknowledges receiptfrom Buyerof$,�5 (m,mearnest money,in the form of: hA�Cxy1� 0 )Qxwft(wxxxxxxxxxxxxxxxxxxxxxxxxxxxxq)5(�i ;G(Xxo jpg xx xxxx)Mxxxx)@)(gIJQ X 111 XXXfDXWXxXXxXxxxxxxXXXXXXXXXXxXXXXXX X)OXXXX)CKRMXxi W400l 0MXD4XXX)OV410(*ik1 XXNYdfc14K 4WoY4000;XX)E24XM4JFfAXXyeya&$ i2fYMX 112 1Q9�t,14)Qi91616)EX3(t1G6�)E14Df11QX )G)(> KDtBO?SXXiDcNOCDiD49piDEK)t}lD(9(90X)(9Udi�4M9tXdt)CIX?G(U41(X.rtXiSfD(DQ3�2)4K 113 If the earnest money is to be held by Selling Licensee and is over$5,000,it shall be deposited to: ❑Selling Licensee's Broker's pooled trust account ❑A separate trust 114 account in Selling Licensee's Broker's name, with the interest credited at closing to Buyer/Seller (strike one) whose Social Security (or taxpayer ID) Number is: 115 . If this sale fails to close,whoever is entitled to the earnest money is entitled to the interest. 116 Selling Licensee shall not deposit any check until Buyer and Seller have signed this Agreement. Buyer agrees to pay financing and purchase costs incurred by Buyer. If all 117 or part of the earnest money is to be returned to Buyer and any such costs remain unpaid,the Selling Licensee may deduct and pay them therefrom. 118 27. DEFAULT AND ATTORNEY'S FEES. In the event Buyer fails,without legal excuse,to complete the purchase of the Property,then(check one): 119 A)(a. That portion of the earnest money which does not exceed five percent(5%)of the purchase price shall be retained by Seller as liquidated damages(subject to Seller's 120 obligation to pay certain costs and a commission under Section 30 below)and as the sole and exclusive remedy available to Seller for such failure:or 121 ❑ b. Seller may,at Seller's option,(a)keep as liquidated damages all or a portion of the earnest money(subject to Seller's obligation to pay certain costs and a commission 122 under Section 30 below)as the sole and exclusive remedy available to Seller for such failure,(b)bring suit against Buyer for Seller's actual damages,(c)bring suit to specifically 123 enforce this Agreement and recover any incidental damages,or(d)pursue any other rights or remedies available at law or equity. 124 If Buyer,Seller,Listing Agent or Selling Licensee institutes suit concerning this Agreement,including,but not limited to claims brought pursuant to the Washington Consumer 125 Protection Act,the prevailing party is entitled to court costs and a reasonable attorney's fee. In the event of trial,the amount of the attorney's fee shall be fixed by the court. 126 The venue of any suit shall be the county in which the Property is located. 127 If neither of the above boxes is checked,then Option"b"applies. 128 28. COUNTEROFFERS. If either party makes a future counteroffer,the other party shall have until 9:00 P.M.on the N/A day(If not filled in,the second day)following its 129 receipt to accept the counteroffer,unless sooner withdrawn.A counteroffer or acceptance is not effective until a signed copy is received by or at the office of the other party's 130 agent for the purposes of receiving notices,as provided in Section 23. If the counteroffer is not timely accepted,it shall lapse and the earnest money shall be refunded to 131 the Buyer. 132 29. AGREEMENT TO PURCHASE AND TIME LIMIT FOR ACCEPTANCE. Buyer offers to purchase the property on the above terms and conditions. Seller has until 9 PM of 133 ,19 to accept this offer. Acceptance is not effective until a signed copy hereof is actually received by or at the office of Selling 134 Licensee. If this offer is not so accepted,it shall lapse and Selling Licensee shall refund the earnest money to Buyer. 135 BUYER /� DATE NOV. 10 19978 136 BUYER PAC DATE J� � /19 9/ 137 BUYER'S PHONE: HOME OFFICE (206) 328-3770 138 BUYER'S ADDRESS 3316 A tt1fla Seattle, WA ZIP 98102 139 SELLING LICENSEE Ron Knight OFFICE NO. -- PHONE 255-1777 FAX 140 (COMPANY) ADDRESS P.O. Box 6, BF'..fYtOn, WA 98057 141 BY PRINT NAME 142 30. SELLER'S ACCEPTANCE AND BROKERAGE AGREEMENT.Seller agrees to sell the property on the terms and conditions herein,and further agrees to pay a commission 143 in a total amount computed in accordance with the listing agreement.The commission shall be apportioned between Listing Agent and Selling Licensee as specified in the listing. 144 If there Is no written listing agreement,Seiler agrees to pay Selling Licensee a commission of Four (4)%of sales price or$ .Selierassignsto 145 Listing Agent and Selling Licensee a portion of the sales proceeds equal to the commission.Ifeamest money is retained as liquidated damages,any costs advanced oi committed 146 by Listing Agent or Sellingensee for Buyer or Seiler shall be reimbursed or paid therefrom,and the balance shall be divided equally between(1)Seller and(2)Listing Agent 147 and Selling Licensee pe h commission or listing agreement. Seller acknowledges receipt of a copy of this Agreement,signed by both parties. 148 SELLER DATE 19 149 SELLER DATE 19 150 PRINT SELLER'S NAMES 151 SELLER'S PHONE:HOME OFFICE 152 SELLER'S ADDRESS ZIP 153 LISTING AGENT OFFICE NO. PHONE FAX 154 (COMPANY) MLS NO. ADDRESS 155 31. MUTUAL ACCEPTANCE. This Agreement is accepted without further change or counteroffer this day of 19— 156 which shall be deemed the date of mutual acceptance of this Agreement and all addenda. 157 Initials of Buyer/Seller(strike one) Initials of Buyer/Seller(strike one) 158 WHITE—Selling Agent's Copy GREEN—Escrow Copy CANARY—Purchaser's 2nd Copy PINK—Seller's Copy GOLD—Purchaser's 1st Copy From: Betty Nokes To: ORG C M SRVS ALL; FIRE PRE; ORG FIRE ALI ')RG PBPW MAINT ALL; ORG POLICiq L; ORG PBPW ALL; ORG ECONOMIC L�ELOPMENT ALL; ORG EXEC ALL; OR EXEC CITY CLERK; ORG EXEC HEARING EXAMINER; ORG EXEC MUNICIPAL COURT; ORG AS ALL Subject: Dally Homes Groundbreaking Ceremony Date: Tuesday, April 07, 1998 10:16AM Thanks to everyone's hard work, the downtown revitalization efforts are underway. A significant component in the downtown plan is the Dally Homes project. The Dally project is a mixed-use development consisting of 110 luxury apartments, and includes 5000 square feet of retail. The apartments will be located between Logan and Morris Streets, between the Pipeline Trail and the back of the lots that border Second Street. The groundbreaking ceremony for the Dally Homes project will take place on Monday, April 13 at 11:00 a.m. The ceremony will be held on Logan between 2nd & 3rd Streets. For additional information you can contact me at x4492. Page 1 VAof February 23. 1998 14W Renton City Council Minutes Page 67 The City will use Standard and Poor's and Fitch as its rating agencies. Depending upon the credit rating and the market, we may purchase bond insurance for the bonds. Bond insurance guarantees a low interest rate on the bonds. The market conditions, rating, and insurance costs will be evaluated to make the final determination. The total costs recommended in the ordinance assume that insurance will be purchased. The Committee recommended first reading of the ordinance this evening to permit the pricing and sale of the bonds. Next week, the Committee will again be briefed and make a recommendation on the final sale of the bonds. MOVED BY PARKER, SECONDED BY NELSON, COUNCIL CONCUR IN THE COMMITTEE REPORT. CARRIED. HR&RM: Healthcare Plan Finance Committee Chair Parker presented a report recommending Changes concurrence in the staff recommendation to amend the City's healthcare program effective January 1, 1998, as follows: 1. Remove the pre-existing condition clause; 2. Remove the pre-authorization penalty affecting surgeon's fees; 3. Amend language from "calendar years" to "months" for benefits affecting mammograms, dental x-rays and drug and alcohol services; 4. Amend the mental and nervous benefit to meet the mandates of the 1998 Mental Health Parity Act; and 5. Add a benefit for medically necessary neurodevelopmental therapy treatment to restore and improve function for children six and under. MOVED BY PARKER, SECONDED BY NELSON, COUNCIL CONCUR IN THE COMMITTEE REPORT. CARRIED. Utilities Committee Utilities Committee Chair Clawson presented a report recommending SAD: East Kennydale concurrence in the staff recommendation that the City Council grant Interceptor preliminary approval for the East Kennydale Interceptor Special Assessment District (SAD). The Committee further recommended that Council direct Staff to proceed with the establishment of the final SAD upon completion of the East Kennydale Interceptor project. MOVED BY CLAWSON, SECONDED BY SCHLITZER, COUNCIL CONCUR IN THE COMMITTEE REPORT. CARRIED. ORDINANCES AND The following resolutions were presented for reading and adoption: RESOLUTIONS Resolution #3309 A resolution was read declaring property consisting of 1.2 acres located west EDNSP: Declaration of of Logan Ave. S., east of Morris Ave. S., and between South 2nd and 3rd DT-Area Surplus Property Streets to be surplus, and authorizing the Mayor and City Clerk to sign such (Sale to Dally Homes Inc) documents as necessary to transfer title thereto to Dally Homes, Inc. or its assigns. MOVED BY EDWARDS, SECONDED BY SCHLITZER, COUNCIL ADOPT THE RESOLUTION AS PRESENTED. CARRIED. Resolution #3310 A resolution was read approving the Blueberry Lane final plat; 57 attached Plat: Blueberry Lane, townhomes on 9.17 acres in the vicinity of NE 6th St. and Duvall Ave. NE Final, NE 6th/Duvall Ave, (File No. FP-97-169). MOVED BY EDWARDS, SECONDED BY FP-97-169 SCHLITZER, COUNCIL ADOPT THE RESOLUTION AS PRESENTED. CARRIED. Naw CITY OF RENTON, WASHINGTON RESOLUTION NO. 3309 A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF RENTON, WASHINGTON, DECLARING PROPERTY SURPLUS AND AUTHORIZING THE MAYOR AND CITY CLERK TO SIGN SUCH DOCUMENTS AS NECESSARY TO TRANSFER TITLE THERETO TO DALLY HOMES, INC. OR ITS ASSIGNS. WHEREAS, the City of Renton, after a news release and publication of a public notice for public hearing, did hold on the 23rd day of February, 1998, a public hearing to consider the issue of declaring certain real property surplus, such property being legally described in Exhibit A attached hereto and incorporated by reference as if fully set forth, and graphically depicted in Exhibit B, attached hereto and incorporated herein by reference as if fully set forth; and WHEREAS, those members of the public who wished to testify were duly allowed to testify and their testimony was considered by the City Council ; and WHEREAS, the City Administration has previously obtained an appraisal of the value of this real property, as amended by a later adjustment to take into account the discovery of unsuitable soils for bearing certain structures; and WHEREAS, the City Council has determined that the sale of this property is in the public interest and that the proposed development would further the development anticipated by the City in its Comprehensive Plan, and would be of benefit to the citizenry of the City of Renton; and RESOLUTION NO. 3309 ' WHEREAS, the City Administration has duly entered into a Purchase and Sale Agreement with Dally Homes, Inc . for the sale of this property for $354, 403 . 00, which amount is equivalent to the appraised amount of the real property; NOW, THEREFORE, THE CITY COUNCIL OF THE CITY OF RENTON, WASHINGTON, DO RESOLVE AS FOLLOWS : SECTION I . The above recitals are found to be true and correct in all respects . SECTION II . The property in question is hereby declared surplus . SECTION III . The Mayor and City Clerk are hereby authorized to sign the necessary documents to consummate the real estate transaction which is the subject matter of the Purchase and Sale agreement between the City of Renton and Dally Homes, Inc. PASSED BY THE CITY COUNCIL this 23rd day of February , 1998 . Marilyn J. etersen, City Clerk APPROVED BY "THE MAYOR this 23rd day of February 1998 . Jesa Tanner, Mayor Approved to f / Lawr ce J. Warrein, City Attorney RES . 627 : 1/26/98 . 2 `a) EXHIBIT A LEGAL DESCRIPTION PARCEL A: LOTS 6 AND 7, BLOCK 1, SMITHER'S SIXTH ADDITION TO THE TOWN OF RENTON, ACCORDING TO THE PLAT THEREOF, RECORDED IN VOLUME 26 OF PLATS, PAGE 47, IN KING COUNTY, WASHINGTON. TOGETHER WITH THAT PORTION OF THE ALLEY ADJACENT TO SAID LOT 6 VACATED BY CITY OF RENTON ORDINANCE NUMBER 2779, WHICH ATTACHED BY OPERATION OF LAW. PARCEL B: LOT 2 THROUGH 5, INCLUSIVE, BLOCK 1,MOTOR LINE ADDITION TO RENTON, ACCORDING TO THE PLAT THEREOF, RECORDED IN VOLUME 9 OF PLATS, PAGE 50, IN KING COUNTY, WASHINGTON. 147321.1/35-904189.1) C sw A EXHIBIT B j�cCkS i Srn�` S �oT� A Off. )� tloc.'c To ,E'NTprU0�- a 0 8 a 4a lO G Y 1y• a• Afo' a oo b � � 3 16:r- N fl -- - a a .o� Y p O AO , , 4,1 coa Lr ON IyG.331 jU� r L:.7 co I y6.3j 6 QUI � S].3 4� c � � o � v . bow Z l� February 23, 1998 Nrrr Renton City Council Minutes V Page 63 Mayor Tanner added that if Newcastle chooses not to annex this property, Mr. Clarke can then build according to Renton's zoning and regulations, as long as he holds title to the property. Susan Boyd, Penhallegon Associates, 750 Sixth St. S., Kirkland, WA, stated that the City of Newcastle has retained her firm for consulting services related to the annexing of this property. Saying this proved that Newcastle is serious about this matter, she added that Newcastle judges the moratorium to be important. Karin Blakley, 2112 NE 50th St., Renton, WA, 98056, strongly supported continuing the moratorium. Mike Florian, 2120 NE 50th St., Renton, WA, 98056, also supported the moratorium, saying that it is both correct and justified and that Newcastle is committed to pursuing annexation of this area. Gary Adams, Mayor of the City of Newcastle, stated that Newcastle would try to assist Mr. Clarke in any way possible in an effort to assure that everyone in this area is treated fairly. MOVED BY EDWARDS, SECONDED BY NELSON, COUNCIL CLOSE THE PUBLIC HEARING. CARRIED. EDNSP: Declaration of This being the date set and proper notices having been posted and published DT-Area Surplus Property in accordance with local and State laws, Mayor Tanner opened the public (Sale to Dally Homes Inc) hearing to consider declaring certain City-owned property to be surplus for the purpose of sale to Dally Homes, Inc. for development of a mixed retail and residential structure; property consisting of 1.2 acres located west of Logan Ave. S., east of Morris Ave. S., and between South 2nd and 3rd Streets. Sue Carlson, Economic Development, Neighborhoods and Strategic Planning Administrator, explained that in 1995, the City purchased several parcels of property in downtown Renton that were vacated when auto dealerships moved to the Automall at Rainier and Grady. The property was envisioned to be used for parking, a plaza or town square, and a transit center. Since then, the City has determined that the approximately 1.2 acre parcel located between Logan and Morris Avenues is not needed for the planned public improvements. The proposal is to declare this property surplus and sell it to the private sector for development of market rate housing. Continuing, Ms. Carlson said in February of 1997, the City advertised a request for proposals from private developers to build a mixed use retail and residential project on this piece of property. After reviewing the proposals and conducting interviews, Dally Homes was selected as the best potential developer for the site. The development proposal includes 110 high-end apartments built over one level of structured parking, and 4,600 square feet of retail space. Audience comment was invited. Ralph Evans, 3306 NE 11th Pl., Renton, 98056, asked what was meant by the term "market rate" housing. Ms. Carlson replied this indicates the residential portion of the project will not be subsidized; instead, the market alone will determine the price of the units. She estimated the monthly cost will be between $750 and $1,000 per unit. February 23. 1998 Renton City Council Minutes Page 64 MOVED BY EDWARDS, SECONDED BY NELSON, COUNCIL CLOSE THE PUBLIC HEARING. CARRIED. MOVED BY PARKER, SECONDED BY CORMAN, COUNCIL SUSPEND ITS RULES AND ADVANCE TO THE FINANCE COMMITTEE REPORT ON THIS SUBJECT. CARRIED. Finance Committee Finance Committee Chair Parker presented a report regarding the proposal to EDNSP: Declaration of declare certain City-owned real property as surplus. The City purchased DT-Area Surplus Property certain real property for various municipal purposes, that property generally (Sale to Dally Homes Inc) being located east of Morris Ave. S., south of S. 2nd St., north of S. 3rd St., and west of Logan Ave. S. Because of the acquisition of other properties and the finalization of plans concerning other municipal developments in this area, portions of the City lands are or may become surplus. The purpose of declaring this property surplus is to sell it to a developer, Dally Homes, Inc., for construction of a mixed-use retail and housing complex. The legal description of this property is: Parcel A - Lots 6 and 7, Block 1, Smither's Sixth Addition to the Town of Renton, together with that portion of the alley adjacent to said Lot 6 vacated by City of Renton Ordinance No. 2779, which attached by operation of law. Parcel B - Lots 2 through 5, inclusive, Block 1, Motor Line Addition to Renton. The Finance Committee recommended that Council approve the resolution declaring certain City-owned property as surplus, and authorizing the Mayor and City Clerk to sign such documents as necessary to transfer title thereto to Dally Homes, Inc. or its assigns. MOVED BY PARKER, SECONDED BY SCHLITZER, COUNCIL CONCUR IN THE COMMITTEE REPORT. CARRIED. (See page 67 for resolution.) CONSENT AGENDA Items on the consent agenda are adopted by one motion which follows the listing. CAG: 98-005, Downtown City Clerk reported bid opening on 2/11/98 for CAG-98-005, Downtown Water Main Replacement, Water Main Replacement; nine bids; engineer's estimate $494,898.89; and DDJ Construction submitted staff recommendation to award the contract to the low bidder, D.D.J. Construction Co., Inc., in the total amount of $392,874.62. Council concur. Rezone: Austin Site (800 City Clerk submitted request from the applicant of the Austin Site Rezone SW 16th St), R-97-161 (3.2 acres located at 800 SW 16th St., File No. R-97-161) that this matter be held in abeyance until approximately March 16, 1998, to allow completion of negotiations with a potential developer. Council concur. CAG: 96-071, Fire Station Community Services Division submitted CAG-96-071, Fire Station #14 and #14 and Training Center, Training Center; and requested approval of the project, commencement of 60- John Daniels Construction day lien period, and release of retained amount of $124,259.29 to John Daniels Construction, Inc., contractor, if all required releases are obtained. Council concur. Development Service: Development Services Division recommended acceptance of a dedication of Potter's Grassy Acre Short right-of-way on the southeast corner of the intersection of Shelton Ave. NE Plat ROW Dedication, and NE 19th Street to meet a requirement of the Potter's Grassy Acre Short Shelton Ave/NE 19th St Plat (SHP-97-158). Council concur. (SHP-97-158) +r.r low CITY OF RENTON ECONOMIC DEVELOPMENT, NEIGHBORHOODS, AND STRATEGIC PLANNING MEMORANDUM DATE: February 19, 1998 TO: Bob Edwards,President City Council Members FROM: Jesse Tanner,Mayor STAFF CONTACT: Sue Carlson, Administrator Economic Development, Neighborhoods and Strategic Planning SUBJECT: Public Hearing on Surplusing of City Property Issue In 1995 the City of Renton purchased approximately three acres of property in downtown Renton. The City purchased this property for the following public purposes: 1) for additional parking for downtown businesses, 2) to build a downtown plaza or town square, and 3) to provide property for a proposed downtown transit center. Because of the acquisition of other properties and the finalization of plans for the plaza and the transit center, the City determined that the parcel located between Logan Ave S. and Morris Ave S. would become surplus for planned public improvements, and will instead be sold to the private sector for development of market-rate housing. The purpose of this public hearing is to receive public input on the City's proposal to surplus this property. Background The City has been working on the redevelopment of downtown Renton for many years. In 1993 the City Council approved the Downtown Revitalization Plan which envisioned downtown residential, commercial entertainment, and retail uses. It outlined many of the elements that are going to be presented tonight including market rate residential housing;new,vibrant retail space; a town square or gathering place; and enhanced public amenities. As a first step in making that vision a reality,in 1995 the Council approved the creation of an Automall at Rainier and Grady and approved the purchase of downtown property vacated by the car dealerships when they relocated. This allowed the City to begin planning the public amenities, such as the piazza, additional parking and the transit center necessary to implement the downtown plan. An in-depth analysis of the proposed public improvements revealed that the property located between Logan Ave S. and Morris Ave S. would not be needed for the planned public improvements. As a result of this analysis, an economic feasibility study was commissioned in early 1996 to determine the possibility of building market rate housing in the downtown,utilizing a portion of the recently purchased property. The study showed that this might be feasible if the City were committed to investing in the downtown by moving forward with plans for the town square or piazza. Both the Downtown Renton Association and a newly formed citizen's group,Citizen's for Piazza Renton(or CPR) embraced the concept of the piazza and began working to implement the concept. In February of 1997,the city issued a request for proposal seeking the participation of a private developer to build a mixed-use retail/residential project on this parcel. After publication and solicitation of proposals and interviews, Dally Homes was selected as the best potential developer for the site. Dally Homes' proposal includes 110 high-end apartments built over one level of structured parking and 4,600 square feet of retail space. In May, the City Council was briefed on this proposal and authorized the Administration to begin negotiations with Dally Homes on the sale of the property. February 18, 1998 *me Page 2 Key Dates Downtown Development Project Logan/Morris Property Fall 1993 Downtown Plan approved by City Council Winter 1995 Automall Concept approved by City Council Spring 1995 City purchased property from Good Chevrolet Spring 1996 City commissioned economic feasibility study Summer 1996 Feasibility study complete; presentation to Council Fall 1996 Marketed property February 1997 Sent RFP's to interested parties March 1997 Received three responses from developers April 1997 Selection of developer May to December 1997 Negotiations February 1998 Public Hearing on Surplus of Property Recommendation The Administration recommends that the City Council declare the subject property surplus and requests approval to complete the sale of the property to Dally Homes. CI' ' OWNED PROP ;TY S 2nd St CU � > > P rking � Q d O> > O O n y S 3rd St a� Q F- CL) S Parking i S 4th St Neighborhoods & Strategic Planning ♦ ♦ ED/N/SP 0. Dennison 16 February 1998 Cl' OWNED PROPTTY Airport Way ti a, TillicuM t ' Y yf 3 S� C3 IX Tobin Ave S ti Tobin Ave S > Tobin a Cj d rn 0 N J al > Q N a� C3 Renton High School J N N d � 3 Q VI E C 2nd St 3 S 2nd St S 2nd St CIj CU > a, o, Y o > !n 3 � J ¢ d d +, L ++ HH3 0 J �� C S 3rd St ti S 3rd St L NS3rdSt �Cn� a, CU Q > v, S 3rd M Q E �° � � t L 2 a, Womi 3 �pv5 T H ti S 4th St S 4th St a, H I N w 9 0 ; C4 Q � 3 o��re��RR e � � N S qth P� o Q V) 3 3 BurbrO�o S 5th St MH Qj Q S 5th St No HH Mn i ar i Q 0 Y U 3 41 41 0 C- . . m Neighborhoods & Strategic Planning Surplus ED/N/SP Parking Dennison 1 Transit 16 February 1998 Plaza APPROVED BY CITY COUNCIL FINANCE CO`IMITTEE Date_2 COMMITTEE REPORT February 23, 1998 DECLARING CERTAIN CITY OWNED REAL PROPERTY AS SURPLUS Referred February 9, 1998 ) The City of Renton purchased certain real property for various municipal purposes, that property generally being located east of Morris Ave S, south of S Second St, north of S Third St, and west of Logan Ave S. Because of the acquisition of other properties and the finalization of plans concerning other municipal developments in this area, portions of the City lands are or may become surplus. The purpose of declaring this property surplus is to sell it to a developer, Dally Homes, Inc., for construction of a mixed-use retail and housing complex. The legal description of this property is: Parcel A: Lots 6 and 7,Block 1, Smither's Sixth Addition to the Town of Renton,together with that portion of the alley adjacent to said Lot 6 vacated by City of Renton Ordinance No. 2779, which attached by operation of law. Parcel B: Lot 2 through 5, inclusive, Block 1, Motor Line Addition to Renton. The Finance Committee recommends the Council approve the resolutions declaring certain City owned property as surplus and authorizing the Mayor and City Clerk to sign such documents as necessary to transfer title theretooto-Da11 Homes, Inc. or its assigns. King Par er, air Kathy Ke er-Wheeler,Vice Chair ToAi Nelson,Member cc: Jay Covington Sue Carlson New N C G C��C C N 0N C y Nin O � t0 y l6 i0 L tO LL tO- C7 y°'QvyN�O0ID C W pLO NNO�-aTj?j O(nN>,-y IR O«.V Lu a� >�m2u m�¢�ay�v�co&nm Ey Q¢nv v F 0.2 m o N N o.L n d o N� N2 C O C~Na > N OWN V 0>.�.n;Z O(0ECNO 3>m O am` ,mo)<a Csrn�y�dN w=- ppp 2U yL-•W OOH NNNO2N2�tl]9.�SN •=N`pyU L O)E'C N3NL�tC.- •,I'9UN> O N VC�O?,CNU'p Ny > OC�N2 Na[ct HNOS NO�NNNN2]in l00 U) -5 _Z-EN O L U O U C: ca U O >+ � O _ '- N _O X D O O O o N cu � m� U -C E Z °0o N -C•, -C F- O O 0 N OO\ O_ N '-' ? OCo " C cn r. a0O 'C � C - cz T cin bA � L �"r--' C O O O f0 00 (n O M Q L W .0 :O C � CZ U O > rt U) Q>-0 753 � 1 co p /yJ O O C > O O CM O O cm W i ' cu co C >, O N aj U p N L 'y O L 'O =O - c00 cn •.-U., p >` C cin 1� x `moi C CD (,) N 3 ca o O7 �, 7 O cz a O [—� co cu .c a 3c o oc Z c c) cTJ -o -o o m 0 a� O Cl) 30 a Y con C U O Y >+ c`o c c �cz 3 C co cn Q 'c C O O - a o c y U t � o ca C'._ O C 0 L N C O N c0 Z co c co Y Q .� > C O O O Oco H N J N O N .0 N .- CD co cd N - O p C N U O LL 3 LL : S CD > Y m a a ani co ai CD o a a_ a c . in o o �` NGS. E a»- CO cnM � c c m O c O cn 0 -0 N O a O O O :� a C4, a� cn _ ` N c0 O C O RS O - ¢ :co_ Y :IS cz c a U --.) (4 3a Z ca CITY OF RENTON NOTICE OF PUBLIC HEARING RENTON CITY COUNCIL NOTICE IS HEREBY GIVEN that the Renton City Council has fixed February 23, 1998, at 7:30 p.m. as the date and time for a public hearing to be held in the second floor Council Chambers of the Renton Municipal Building, 200 Mill Avenue South, Renton 98055, to consider the following: To declare surplus City-owned property consisting of 1.2 acres located west of Logan Avenue South, east of Morris Avenue South, and between South 2nd and South 3rd Streets for the purpose of sale to a developer, Dally Homes, Inc., for development of a mixed retail and residential structure. All interested persons are invited to attend the hearing and present oral or written comments in support or opposition to the proposal. The Municipal Building is fully accessible, and interpretive services for the hearing impaired will be provided upon prior notice. For information, call 425-235-2502. Marilyn tersen City Clerk Published: South County Journal February 13, 1998 Account No. 50640 err VOW LOCATIONS OF POSTINGS DONE ON G , 1995 . 1. � �� �U,�a.�n.v �rLu.C,i✓�GiY1 �DG��-�1 . 2. W'y mA" ("a w'ktt'�' 3. -WWI 4. O)O(W6 CERTIFICATION STATE OF WASHINGTON) ss COUNTY OF KING ) I � 1 � �n HEREBY CERTIFY THAT COPIES OF THE ABOVE NOTICE WERE FORWARDED TO THE MAIN AND HIGHLANDS LIBRARY AND POSTED BY ME AT THE RENTON MUNICIP L BUILDING, 200 MILL AVENUE S., RENTON, WA ON DATE OF `9 SIGNED ///�� l (/1�21G�/t/r✓ SIGNED I'lotary SUBSCRIBED AND SWORN TO BEFORE ME this jzt� day of Notary Public in and for the State of Washington, residing at �rrr `rII' CITY OF RENTON NOTICE OF PUBLIC HEARING RENTON CITY COUNCIL NOTICE IS HEREBY GIVEN that the Renton City Council has fixed February 23, 1998, at 7:30 p.m. as the date and time for a public hearing to be held in the second floor Council Chambers of the Renton Municipal Building, 200 Mill Avenue South, Renton 98055, to consider the following: To declare surplus City-owned property consisting of 1.2 acres located west of Logan Avenue South, east of Morris Avenue South, and between South 2nd and South 3rd Streets for the purpose of sale to a developer, Dally Homes, Inc., for development of a mixed retail and residential structure. All interested persons are invited to attend the hearing and present oral or written comments in support or opposition to the proposal. The Municipal Building is fully accessible, and interpretive services for the hearing impaired will be provided upon prior notice. For information, call 425-235-2502. Marilyn tersen City Clerk Published: South County Journal February 13, 1998 Account No. 50640 News Release The City of Renton has scheduled a public hearing on the 23rd day of February, 1998, to consider declaring surplus certain real estate owned by the City of Renton. That real estate consists of approximately 1.24 acres and is generally located west of Logan Avenue South, east of Morris Avenue South, and between South Second and South Third Streets. A map of the area is available in the City Clerk Division at 200 Mill Ave. So., Renton, phone 425-235-2501. The purpose of declaring the property surplus would be to sell it to a developer, Dally Homes, Inc., for development of a mixed retail and residential structure. Published: South County. Journal 2/13/98 Account #50640 t w W Fr ; m y CCD y C. C*n U o U) zr OL < O c� CD N m 00peD m a U) cn o'Q o � y 00 Z � Wd _d lb � � O � rp (7% rt d M o aw m � co O N tzl O O i R Ell I Ape- Ps goo j Z r Eo,UFoE�,_a+ �;ttpc �aofc �3 c OUR I s P.18 W O „. CQ ..• C OD�Zl�� �. G C Q U c c_cvU o io �c O s r c CD 7) o � N ami c Nr coU V c E o L cc ter • Z LI) 00 m w ~ cl) m rn c o .c ao � oN4ME C' ECD O N G.> — m m O Nc -EO Q 0) 0c t6 c0 c A � N cO O1 4 y qj p p0 a cc to —, Occ .L C N �I Ir' O O O O c fl o m m a cv CL d c a o °? LL oE o c=i :E o E � _ c 3 YUCc € ma t Z'c Cc 'a o c rn c c) c ;ZJO75 ` a � cO a O 2 E c � 0S 3 > Yami fl- 0 co 0 a W (D = CL a c ° ,o « a a a rn .0 \�11 Q g 11!11111 V1 O W S >' O c 0 2c. L M N EE ��`\ ss cq O cc t7�,, ca O = p C 0 cc O c ` a :1 p•. r , E uci 0 'a c`cc Q � maw 4) a 0 .0 m � � � N.s=- 3LN >, � rc p (D E _ Q ® n * r m Y cc c a cg CO °� a Z ccH `° X,�;b, .,....1,S.Q.``��. 1111111 ir/' ys 'Woo *460" t CITY OF RENTON, WASHINGTON RESOLUTION NO. 3305 A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF RENTON, WASHINGTON, ESTABLISHING A PUBLIC HEARING TO CONSIDER DECLARING CERTAIN CITY OWNED REAL PROPERTY AS SURPLUS . WHEREAS, the City of Renton purchased certain real property for various municipal purposes, that property generally being located west of Logan Avenue South, south of South Second Street, north of South Third Street, and east of Morris Avenue South; and WHEREAS, because of the acquisition of other properties and the finalization of plans concerning other municipal developments, portions of the City lands are or may become surplus; and WHEREAS, the City Council is considering declaring certain properties surplus which are legally and graphically described in Exhibit A attached hereto and incorporated by reference as if fully set forth; and WHEREAS, it is necessary before declaring any property surplus to have a public hearing on the issue of declaring the property surplus ; NOW, THEREFORE, THE CITY COUNCIL OF THE CITY OF RENTON, WASHINGTON, DO RESOLVE AS FOLLOWS : SECTION I. The above recitals are found to be true and correct in all respects . SECTION II. There is hereby established a public hearing as part of the regular City Council meeting of the Renton City Council to be held at 7 :30 P.M. on the 23rd day of February 1998 *AORESOLUTION NO. 3305 1*80►' at the Renton City Council Chambers, 200 Mill Avenue South, to consider the issue of whether or not to declare a previously described real property as surplus . SECTION III. The purpose of declaring this property surplus is to sell it to a developer, Dally Homes, Inc. , for construction of a mixed-use retail and housing complex. PASSED BY THE CITY COUNCIL this 9th day of February 1998 . Mari ly J. etersen, City Clerk APPROVED BY THE MAYOR this 9th day of February 1998 . Jes Tanner, Mayor Approved �.-t�oA f Lawrence J. Warre , City Attorney RES . 626 : 1/23/98 . 2 EXHIBIT A LEGAL DESCRIPTION PARCEL A: LOTS 6 AND 7, BLOCK 1, SMITHER'S SIXTH ADDITION TO THE TOWN OF RENTON,ACCORDING TO THE PLAT THEREOF, RECORDED IN VOLUME 26 OF PLATS, PAGE 47, IN KING COUNT-Y, WASHINGTON. TOGETHER WITH THAT PORTION OF THE ALLEY ADJACENT TO SAID LOT 6 VACATED BY CITY OF RENTON ORDINANCE NUMBER 2779, WHICH ATTACHED BY OPERATION OF LAW. PARCEL B: LOT 2 THROUGH 5, INCLUSIVE, BLOCK 1,MOTOR LINE ADDITION TO RENTON, ACCORDING TO THE PLAT THEREOF, RECORDED IN VOLUME 9 OF PLATS, PAGE 50, IN KING COUNTY, WASHINGTON. 147321.1/359(14189.1) 'V X EXHIBIT B Winn. nn To .E'N7pN a6f�r,� �6ntrv� (g16o� c a g a Ic�0 G az � a loo• n a 3►. 3s � _ too, cz L461y �Y SK.O .t°o' ��0 fi 'r✓ Win+ News Release The City of Renton has scheduled a public hearing on the 23rd day of February, 1998) to consider declaring surplus certain real estate owned by the City of Renton. That real estate consists of approximately 1.24 acres and is generally located west of Logan Avenue South, east of Morris Avenue South, and between South Second and South Third Streets. A map of the area is available in the City Clerk Division at 200 Mill Ave. So., Renton, phone 425-235-2501. The purpose of declaring the property surplus would be to sell it to a developer, Dally Homes, Inc., for development of a mixed retail and residential structure. Published: South. County. Journal 2/13/98 Account #50640 4r { ! LOCATIONS OF POSTINGS DONE ON - �/ , 199 . r 2. 71 , 6. �® CERTIFICATION STATE OF WASHINGTON) ss COUNTY OF KING ) I P4 9� HEREBY CERTIFY THAT 1� COPIES OF THE ABOVE NOTICE WERE POSTED BY ME IN THREE OR MORE CONSPICUOUS PLACES ON THE PROPERTY DESCRIBED AND TWO COPIES WERE POSTED AT THE RENTON MUNICIPAL BUILDING, 200 MILL AVENUE S., RENTON, WA ON DATE OF .Z'//- f Q SIGNED SIGNED NOTARY SUBSCRIBED AND SWORN TO BEFORE ME this_/ '��L day of Notary Public in and for the State of Washington, residing at C�� NOTICE RENTON CITY COUNCIL PUBLIC HEARING ON FEBRUARY 23, 1998 AT 7:30 P.M. RENTON MUNICIPAL BUILDING COUNCIL CHAMBERS 200 MILL AVENUE SOUTH To declare surplus City-owned property consisting of 1 .2 acres located west of Logan Ave. S. , east of Morris Ave. S. , and between S. 2nd and S. 3rd Streets for the purpose of sale to a developer, Dally Homes, Inc. , for development of a mixed retail and residential structure. _ S.2nd St._ C"' J O $o tC10 � iti a 3 �,Iv � ab .roe• b o _ N �h 8 3t.SS -7 , u r s• , -t' � b Q 74.-33 u o cs wl I y6.; t�6 s ccdii OK Y SY.o _.loo' b 6 p S.3rd St. —All interested parties are invited to attend and present written and/or oral comments. Complete legal description &further information available in the City Clerk's Office-235-2501 The removal, mutilation, destruction, or ' concealment of this notice is a misdemeanor gWarnin . punishable by fine and imprisonment. February 9. 1998 , Renton City Council Minutes Page 53 OLD BUSINESS Planning & Development Committee Chair Keolker-Wheeler presented a Plannine & Development report recommending concurrence with the staff recommendation to amend Committee the Sign Code to allow larger freestanding signs for auto dealerships located in Development Services: the Automall area, intended as an incentive for dealerships to locate to the Sign Code Amendments Automall. The Sign Code amendment would essentially increase the maximum (Automall Freestanding allowable size of freestanding signs by 50 square feet for auto dealerships Signs) located in the Automall area. The Committee further recommended that this ordinance be presented for first reading and advanced to second and final reading this evening. MOVED BY KEOLKER-WHEELER, SECONDED BY SCHLITZER, COUNCIL CONCUR IN THE COMMITTEE REPORT. CARRIED. (See page 54 for ordinance.) Transportation Committee Transportation (Aviation) Committee Chair Schlitzer presented a report Transportation: recommending that Council direct the Administration to adopt the proposed Neighborhood Safety neighborhood safety awareness sign "Drive Safely for Our Children's Sake." Awareness Signs The Committee further recommended that the Administration adopt the proposed policy and procedures for the employment of the neighborhood safety awareness sign. MOVED BY SCHLITZER, SECONDED BY CORMAN, COUNCIL CONCUR IN THE COMMITTEE REPORT. CARRIED. Transportation: Transportation (Aviation) Committee Chair Schlitzer presented a report Transportation regarding the proposed Transportation Concurrency Ordinance, required by Concurrency Ordinance the Growth Management Act (GMA), which would allow Renton to approve or deny development on the basis of whether the City's transportation level of service would be degraded below the adopted standard. Currently, an interim concurrency system is included in the Transportation Element of the Comprehensive Plan. In accordance with Council's direction on October 27, 1997, the proposed ordinance was sent to the State Department of Community, Trade and Economic Development for the required 60-day review period. No comments were received. The Committee therefore recommended that a public hearing be held on February 23, 1998, to take testimony on the proposed ordinance. MOVED BY SCHLITZER, SECONDED BY KEOLKER-WHEELER, COUNCIL CONCUR IN THE COMMITTEE REPORT. CARRIED. ORDINANCES AND The following resolutions were presented for reading and adoption: RESOLUTIONS Resolution #3304 A resolution was read approving the Valley Vue Estates final plat; 34 lots on Plat: Valley Vue Estates, 8.4 acres located in the vicinity of Shattuck Ave. S. and S. 20th Place. Final, Shattuck Ave S/S MOVED BY SCHLITZER, SECONDED BY KEOLKER-WHEELER, 20th Pl, FP-97-133 COUNCIL ADOPT THE RESOLUTION AS PRESENTED. CARRIED. Resolution #3305 A resolution was read establishing a public hearing on February 23, 1998, to EDNSP: Declaration of consider declaring certain City-owned real property as surplus; property DT-Area Surplus Property generally being located west of Logan Ave. S., south of S. 2nd St., north of S. (Sale to Dally Homes Inc) 3rd St., and east of Morris Ave. S. MOVED BY KEOLKER-WHEELER, SECONDED BY NELSON, COUNCIL ADOPT THE RESOLUTION AS PRESENTED. CARRIED. Resolution #3306 A resolution was read setting a hearing date for March 2, 1998, to take Vacation: Kirkland PI NE testimony on vacating the east 18 feet of the 2000 block of Kirkland Pl. NE (Keller/Abrahamson, (Keller/Abrahamson, VAC-97-007). MOVED BY PARKER, SECONDED BY VAC-97-007) SCHLITZER, COUNCIL ADOPT THE RESOLUTION AS PRESENTED. CARRIED. i r February 9. 1998 Renton City Council Minutes `' ' Page 51 Constitutional rights arising from an incident in November, 1996 when Renton police seeking to serve a warrant broke down the door to plaintiff's residence. Refer to City Attorney and Insurance Services. Plat: Valley Vue Estates, Development Services Division recommended approval, with one condition, of Final, Shattuck Ave S/S the Valley Vue Estates Final Plat, 34 single family residences on 8.4 acres 20th Pl, FP-97-133 located in the vicinity of Shattuck Ave. S. and S. 20th Pl. (FP-97-133). Council concur. (See page 53 for resolution.) Streets: Monterey Ct NE Development Services Division requested acceptance of a deed of dedication Deed of Dedication for of Monterey Ct. NE to provide access to the Westmont (formerly Prellwitz) Westmont Short Plat short plat, located at NE 36th St. and Aberdeen Ave. NE (SHP-96-041). (SHP-96-041) Council concur. EDNSP: Declaration of Economic Development, Neighborhoods and Strategic Planning Department DT-Area Surplus Property requested that certain City-owned property located generally between Morris (Sale to Dally Homes Inc) and Logan Avenues South and South 2nd and 3rd Streets be declared surplus . and sold to Dally Homes, Inc. for construction of a mixed-use retail and housing complex. Refer to Finance Committee; set public hearing for February 23, 1998, to take testimony on the proposal. (See page 53 for resolution setting the public hearing.) HR&RM: Healthcare Plan Human Resources & Risk Management Department submitted the Changes recommendation of the Health Benefits Task Force to modify several provisions of the City's health insurance plan. Refer to Finance Committee. Streets: Monster Rd Technical Services Division recommended approval of the appraisal performed SW/SW 16th St Vacation for the partial street vacation of Monster Rd. SW and SW 16th St. in the (Shober/VAC-97-003), vicinity of SW Grady Way and SW Jackson St. (Shober/VAC-97-003), and Appraisal further recommended that Council set compensation due at one-half of the appraised value. Refer to Transportation Committee. SAD: East Kennydale Wastewater Utility Division requested preliminary authorization to establish Interceptor the East Kennydale Interceptor Special Assessment District (SAD), and to proceed with establishing the final SAD upon completion of construction of the East Kennydale Interceptor project. Refer to Utilities Committee. Added Items Finance and Information Services Department submitted draft ordinance to Finance: Water/Sewer refund over $6,000,000 in water and sewer debt, netting a debt service savings Bond Refunding of more than $21,000 annually. Refer to Finance Committee. EDNSP: CD Zone Economic Development, Neighborhoods and Strategic Planning Department Moratorium re Gas proposed Code amendments affecting the definitions, permitted zones, and Stations, Vehicle Service landscape and screening requirements for gas stations, vehicle service, mini- etc. marts and related uses. Refer to Planning & Development Committee. (See page 54 for related resolution.) Airport: Cedar River Transportation Division recommended approval of new land rental rates Hangar Lease Rent effective January 1, 1998 for the Cedar River Hangar Limited Partnership, Agreement, LAG- and waiver of the coil—tion of retroactive rent for this lessee. Refer to Transportation (Aviation) Committee. Airport: Boeing Co Lease Transportation Division recommended approval of Addendum #18-98 to of Apron C (Termination LAG-65-877, lease with The Boeing Company for Apron C at the Renton of Other Lessees), LAG- Municipal Airport, to terminate the use of Stalls C-6, C-7 and C-8 by other 65-877 lessees. Refer to Transportation (Aviation) Committee. -ITY OF RENTON COUNCIL AGENDA BAW AI#: SUBMITTING DATA: FOR AGENDA OF: February 9 1998 Dept/Div/Board....Economic Development Staff Contact........Sue Carlson AGENDA STATUS: Consent................. X SUBJECT: Public Hearing..... Declaring Certain City Owned Real Property As Surplus Ordinance............. Resolution............ Old Business......... EXHIBITS: New Business....... Locator Map Study Session........ Resolution setting public hearing to consider declaring Other..................... property surplus Resolution declaring property surplus and authorization to transfer title to Dally Homes, Inc. RECOMMENDED ACTION: APPROVALS: Refer to Finance Committee on February 16, 1998 Legal Dept............ X Set public hearing for February 23, 1998 Finance Dept........ Other..................... FISCAL IMPACT: Expenditure Required....-0- Transfer/Amendment.... -0- Amount Budgeted...........0- Revenue Generated....... $354,403 SUMMARY OF ACTION: The City of Renton purchased certain real property for various municipal purposes, that property generally being located east of Morris Ave S, south of S Second St, north of S Third St, and west of Logan Ave S. Because of the acquisition of other properties and the finalization of plans concerning other municipal developments in this area,portions of the City lands are or may become surplus. The purpose of declaring this property surplus is to sell it to a developer, Dally Homes, Inc., for construction of a mixed-use retail and housing complex. The legal description of this property is: Parcel A: Lots 6 and 7, Block 1, Smither's Sixth Addition to the Town of Renton, together with that portion of the alley adjacent to said Lot 6 vacated by City of Renton Ordinance No. 2779, which attached by operation of law. Parcel B: Lot 2 through 5, inclusive, Block 1, Motor Line Addition to Renton. STAFF RECOMMENDATION: • Refer to Finance Committee on February 16, 1998 and set public hearing for February 23, 1998 • Approve resolution declaring certain City owned property as surplus and authorizing the Mayor and City Clerk to sign such documents as necessary to transfer title thereto to Dally Homes, Inc. or its assigns. ;yCITN' OF RENTON �..- ..r Office of the City Attorney Jesse Tanner,Mayor Lawrence J.Warren MEMORANDUM nn PECEI ED To: Sue Carlson JAN 2 7 1998 From: Lawrence J. Warren, City Attorney Date: January 26, 1998 Subject: Dally Homes, Inc. I am enclosing a copy of the following resolutions, the originals of which have been sent to the City Clerk: 1. Resolution establishing a public hearing to consider declaring certain City owned real property as surplus; and 2. Resolution declaring property surplus and authorizing the Mayor and City Clerk to sign such document s as necessary to transfer title thereto to Dally Homes, Inc. or its assigns. I am also enclosing a News Release scheduling a public hearing to declare surplus the real estate in question. Lawrence J. Warren LJW:as. Encl. cc: Jay Covington Marilyn J. Petersen, City Clerk A8:137.18. Post Office Box 626 - 100 S. 2nd Street - Renton, Washington 98057 - (425)255-8678 ®This paper contains 50%recycled material,20%post consumer NEWS RELEASE The City of Renton has scheduled a public hearing on the_ day of February, 1998, to consider declaring surplus certain real estate owned by the City of Renton. That real estate is located as shown on the attached graphical representation and is generally located west of Logan Avenue South, east of Morris Avenue South, and between South Second and South Third Streets. The purpose of declaring the property surplus would be to sell it to a developer, Dally Homes, Inc., for development of a mixed retail and residential structure. • A 1 /. EXHIBIT B b(cCkS b sr,,J! s col' A off. t�oc,�-- 10 NToN Q NO S` a g a c10 L Y`i. ,. yy• �I�. ,�a. a b � I of � 3 �1 � _ roo•_ cl Pi 1 � h K yy, a 3►. 3s � }v Cry L � cz yL.33 rU w I 6't� r I cs 16.3j t�6 cA Ctl a 57 .3 9 I,Vb (/7 ccn � ) arn cif m I .y •YY' S�(o ..loo' 4' (p b ° v • 6 = _ w. .. . . L:- s.t 1 EXHIBIT A LEGAL DESCRIPTION PARCEL A: LOTS 6 AND 7, BLOCK 1, SMITHER'S SIXTH ADDITION TO THE TOWN OF RENTON, ACCORDING TO THE PLAT THEREOF, RECORDED IN VOLUME 26 OF PLATS, PAGE 47, IN KING COUNTY,WASHINGTON. TOGETHER WITH THAT PORTION OF THE ALLEY ADJACENT TO SAID LOT 6 VACATED BY CITY OF RENTON ORDINANCE NUMBER 2779, WHICH ATTACHED BY OPERATION OF LAW. PARCEL B: LOT 2 THROUGH 5, INCLUSIVE,BLOCK 1,MOTOR LINE ADDITION TO RENTON, ACCORDING TO THE PLAT THEREOF,RECORDED IN VOLUME 9 OF PLATS, PAGE 50, IN KING COUNTY, WASHINGTON. 147321.1/35_9(14189.1) „{ CIT*►` OF RENTON Mayor Jesse Tanner September 24, 1997 Mr:Don Dally Dally Homes 3316 Fuhrman Ave E. Suite 100 Seattle, WA 98102 RE: Purchase Price for City Property Dear Don: Based on your estimates of the additional costs necessary for auger piles, caps, grade beams and additional foundation work becauseof soil conditions on the site, the City Council, at its meeting on Monday September 22, 1997, agreed to reduce the purchase price of the property from$475,000 to $354,403. If everything else meets your with satisfaction,I will send you a letter this week, outlining the City's public improvement projects and asking you to remove all contingencies. Please call me if you have any questions regarding this matter. Since ely, Susan Carlson Economic Development Director cc: Mayor Tanner 200 Mill Avenue South - Renton, Washington 98055 - (206)235-2580/FAX(206)235-2532 QThies-.1-trine *42000, now I J L-Vii% Dm,n" HOMES CITY OF RENTON September 22, 1997 MAY 2 1 1959 R=CEIVED Susan Carlson CITY CI-ER;'S OFFICE Economic Development Director City of Renton, Municipal Building 200 Mill Avenue South Renton, WA 98055 [via fax#235-2532- original to follow via US Mail] RE: Conditions of Waiver of Contingency Dear Sue: Based on our conversation; DHI is willing to remove its Feasibility Contingency on the following two (2) conditions: 1. That the price of the site is increased by $27,403 to$502,400 reflecting the value of the six (6) additional units and that from this new price the cost of $148,000 for the auger piles,caps and grade beams is deducted which will result in a new adjusted price of$354,403. 2. Review of the City's letter(to be received) as referenced in the MOU (section 3.0). Sue, I should mention that it appears all the conditions as discussed with the City verbally which will be incorporated into that letter seem satisfactory to DHI. If you have any questions regarding this matter, please do not hesitate to call me. Sincerely, DALLY HOMES,INC. Donald F. DaIE!�� President cc: Charlie Labo , HI resident of Construction Scott Missall, ort Cressman &Bergess 3316 RIIIRMAN Avi.. E. - Sum- 100 - St:Arrt.e, WAQS i U2 - (206)328-3770 - FAX 328-6909 #DALLY1H 120L7 E) recycled paper i t small 2 Egli L"�i% IIALI Y HON11ES CITY OF RENTON i MAY 2 1 1999 September 17, 1997RECEIVED CITY CLERK'S OF-FICF Susan Carlson Economic Development Director City of Renton, Municipal Bui?ding 200 Mill Avenue South Renton, WA 98055 [via fax#235-2532 - original to follow via US Mail] RE: Dally Mixed Use Project; Waiver of Contingency Dear Sue: As stipulated in Section 4.0 of the Memorandum of Understanding (MOU) dated June 12, 1997, Dally Homes, Inc. (DHI) approves of its Feasibility Investigation based in the following conditions: A. Within 10 days of receipt of the City's written response as specified in Section 3.0 of the MOU; DHI will approve or disapprove of the conditions therein. B. Due to the unstable soil conditions and resulting additional foundation requirements needed as stipulated in the Geotech Consultants, Inc. Report dated August 28, 1997; DHI is asking for a reductigain the purchase price and/or mitigation fee decrease is number is based on the extra construction costs resulting from 237 auger cast pilings and caps plus connecting grade beams over the typical cost for a spread footing foundation on stable soil conditions. Please refer to attachment#1 to see detailed extra costs from CT Engineers letter and Charlie Laboda's Cost Estimates Memo. C. As specified in Exhibit C of the MOU, DHI approves of its Feasibility investigation as conditioned below; 1. Architectural concept for a 110 unit mixed-use project to be approved by the City in a"to be" scheduled meeting as discussed in my July 29, 1997 letter(page 1, paragraph#1). 2. Market Feasibility - approved. 3316 FUHRMAN Avr.. F. - blare 100 - Sr:.nrm:, WA 9 I U:' (?06)328-3770 - FAX 328-6909 . #DALLYHI120L7 recy,- paper �y 3. Engineering Feasibility based on the City's acceptance of the price reduction as outlined in paragraph B (above) and as specified in my July 29, 1997 letter(page 2, paragraph#3). 4. Cost Feasibility based on the City's acceptance of the price reduction as outlined in paragraph B (above) and as specified in my July 29, 1997 letter(page 2 and 3, paragraph#4). 5. Project Financing - waived. 6. Note; written agreement with the City on its complimentary work to be reached 10 days after receipt of the City's letter as specified in Section 3.0 of the MOU. Please see my letter of July 29, 1997 (pages 3, 4, 5 and 6) which expresses our understanding as of that date. It may be necessary to extend the MOU Feasibility Period from Thursday, September 18, 1997 to Thursday, October 9, 1997 in order to reach written agreement on the price reduction and the City's written response to section 3.0 of the MOU. If you agree I suggest we draft up an extension letter immediately - please advise. Sincerely, DALLY HOMES, INC. Donald F. Dally President cc: Charlie Laboda, Vice President, Construction Scott Missall, Short Cressman &Bergess Ismail 1011i LM,M ® DALLY HOMES I N C O R P 0 R A T E D ■ "-eptinrtnIQ 1a)-Timc1—�h,, July 29, 1997 Susan Carlson Economic Development Director City of Renton, Municipal Building 200 Mill Avenue South Renton,WA 98055 RE: Feasibility Status; Dally Mixed-Use Project Dear Sue: The purpose of this letter is to bring you up to date on our Feasibility analysis for the mixed use (retail/apartment) project and to request written response as to the City's status of satisfying it's obligations as stipulated in Exhibit A and C of the Memorandum of Understanding between Dally Homes, Inc. (DHI) &City of Renton (City), dated June 12, 1997. With regard to the items stipulated in Exhibit C, DHI has accomplished the following of its complimentary work elements: 1. DHI is completing its architectural concept for the Project and would like to meet with the City in the very near future to obtain it's n preliminary approval as to: the projects conformity to the new zoning designation of CM;project density; amount of retail space; location of retail space; building height; building set backs;building appearance/design; number of parking spaces for apartments; location/number of exterior parking spaces; parking garage entry location; emergency parking access at alley; relation of apartment and retail entry locations to Logan Avenue sidewalk and street scape; landscaping/planters adjacent to the pipeline easement&Morris Avenue; location of retail dumpster and HVAC equipment locations at NWC off Logan Avenue and exterior building materials. Also, as a part of that meeting, we would like information from City staff of any special codes or ordinances for SEPA, fire, security or construction that may affect the Project. 1 3316 FUHRMAN AVE.E. • SUITE 100 • SEATTLE,WA 98102 • (206)328-3770 • FAX 328-6909 • #DALLYH1120L7 Mrecycled paper 2. DHI has done a market feasibility study and has determined that the Project may be economically feasible as defined by our conceptual plan and based on what we think the City's Re-Development Plan will encompass. 3. With regard to Engineering Feasibility: a) DHI approves the Level One report as provided by the City. b) DHI approves of the conditions of title, except for the current lease between Sheridan Properties and the City. DHI has requested more information on this lease from the City. c) Based on City records and discussions with City staff, DHI understands that sewer and storm facilities are physically to the site property lines and are available and serviceable for the project'F. use. d) DHI has determined that natural gas and electrical power services are to the site and available from their individual controlling entities. e) DHI is presently having a soil/hazardous waste report completed to verify site conditions. f) DHI understands that the City will construct a new trunk water r1i line in Logan Avenue as apart of its utility re-development . program which will provide water service and adequate fire flow for the Project to meet City requirements. We understand that this water line can be tapped adjacent to the Project. We believe the City's funding for this project will be up for approval at the August 18, 1997 Council meeting. 4. DHI has done its preliminary analysis of the Project Costs and has determined that the construction and development costs as defined by the Conceptual Plan are economically feasible providing the total project costs are limited to the following City fees: a) Impact Mitigation Fire - $.52 per sauare foot (nen-residential) for a total fee of (4,600 sf x $.52) _$2,392 and $388 per multi-family unit (residential) for a total fee of (107 units x $388) _ $41,516. Transportation - $75 per each new.daily trip. The City stated that an apartment project should be based on 6.47 new trips per day. We agree with this for a typical 5" r}- apartment project, however this Project is in the downtown core and adjacent to a major Metro transfer station. Thus, we believe the average new trips per day should be 4.5. , k (107 units x$75 x 4.5 trips) _ $36,112.50. Note: The City will not charge any transportation fees for retail use because the majority of public uses will represent foot traffic from 2 our Project, other downtown developments and/or Metro riders. Parks/Recreation - $354.51 per multi-family unit(107 units x $354.51) _ $37,932.57. (Note; no requirement for retail space) Schools -None Police-None Total impact fees based on 107 units and 4600 sf retail not to exceed $117,952.57. b) Utility Development charges for water and sewer service; to include any area charge, hook up fee, meter charge and or etc. for 107 units and 4,600 sf of retail to not exceed: Water- $6,102 ($.113/sf of site area in CM zone) Sewer- $4,212 ($.078/sf of site area) Storm Water charges -none (there is currently no pervious site area) Total City of Renton Water, Sewer and Storm Charges $10,314 c) Land Use Permit fees (for Hrg Exmr/S.E.P.A) $2,500 d) Construction and Grading Permit fees -based on $5,000,000 construction and grading costs = $16,087 permit cost. Note: It is DHI's understanding that there will be no off-site utility construction permit fees but that DHI sub-contractors will be responsible for electrical, mechanical and plumbing permit fees as published in the City of Renton Development Fee Information handout. 5. Financing Commitment-At this point in time in the Feasibility/Design Phase, we do not have sufficient cost data to obtain a Loan Commitment. Once we have City approval as to our Conceptual Design and all City Mitigation fees are determined, we will be able to prepare our"Bank Package". 6. It is our intent that this letter will serve as the preliminary basis of DHI's current understandings for Project Feasibility. This information . if stated correctly herein, can be included in the final "Written Agreement"between DHI and the City. Hopefully, the questions presented below can be answered, agreed to by both parties and stated in the "Written Agreement"by the deadline of September 18, 1997. As stipulated in the Memorandum of Understanding, Exhibit A (Renton Obligations below), DHI has outlined it's understanding as to the current status of each of the seven (7) "elements" along with its questions to determine its final Feasibility approval of each item. 3 1. We understand that there will be no changes to the Third, Smithers and Logan intersection except for the reconfiguration of Logan Avenue as discussed in item#3 below. Even though we had originally discussed the alignment of Smithers and Logan, we understand this will not occur due to cost, traffic flow and neighborhood concerns. DHI accepts the existing intersection condition "as is" as a part of its Feasibility approval. 2. Development of Park. Our understanding is that Phase I of the Park Improvements will consist of demolishing the masonry portion of the Mazda Building and planting only grass on the park areas between Logan Avenue and Burnett Avenue (east park) and at the NWC of Logan Avenue and Third (west park). This will be accomplished by December 31, 1997 and that funding will be based on council approval at the August 18, 1997 meeting. We further understand Phase II of the Park Improvements will be designed to become a"gateway"to the re- development area of the downtown core and may consist of landscape plantings (trees/bushes), sidewalks with accented plaza areas, special lighting, benches, kiosks,public art and/or water features. Also City staff mentioned that the park area at the NWC of Logan Avenue and Third may incorporate a clock tower which could tie into the design of our Project. According to our information, the design of Phase 11 has not been funded for preliminary design or scheduled for construction to date. Since the Park is critical to our Project, we would like to review and accept the City's preliminary Phase II plan and anticipated schedule for final completion prior to DHI approving its Feasibility. We have very little information on the City's plan for the Piazza Building. We have heard that the City may sell it to a private party for commercial use. Again, the Piazza Building, it's appearance and it's use is critical to our determination of Feasibility. 3. Reconfiguration of Logan Avenue. Based on meetings with City staff, we understand the City will re-develop Logan Avenue between Second and Third with two-way traffic of 12 foot lanes each, 16 foot sidewalks on the west side and 12 foot sidewalks on the east side. (Note, even though one-way traffic was originally discussed, DHI has no problem accepting two-way traffic as a condition of it's Feasibility approval.) Sidewalks to have scored concrete, special interest areas and crosswalks with stamped colored concrete. Street trees will be added to both sides and there will be at least eight (8) parallel parking spaces along the west side of Logan. Funding for Logan Avenue Improvements will be approved at the August 18, 1997 Council meeting. Prior to that meeting, we would like to review and accept the City's final conceptual plan as to how this will coordinate with the retail elevations of our Project. The Metro transfer station was never a 4 fir✓ .� condition of our Feasibility because it was to be located on Burnett Avenue. Now that the plan is to relocate it to an area between Logan Avenue and Burnett Avenue we would like to see the City's conceptual plans and its anticipated completion date. We are in favor of the location that has been picked,but want to be assured that its design is compatible with our Project. 4. We do not have any information as to the City's acquisition of the 17' Big Five property adjacent to our south property line. As we have discussed with the City it is critical to our project's Feasibility that we have garage access across this 17' property and also that we are able to utilize approximately 30 parking spaces for secondary tenant and guestt S apartment parking between 6 pm to 8 am the following morning to meet our financing requirements. This would give us between a 1:1.6 to 1:1.7 total parking ratio. The remainder of the spaces plus the day time use of above mentioned 30 spaces would be for public use as part of the Renton downtown re-development project. Please furnish us at your earliest convenience with the status of ownership negotiations and an anticipated date the City will have control of the 17' property. We are proceeding ahead with design costs based on the City's assurance that they will obtain this property. 5. Pipeline easement development. We understand that the City is still negotiating with the Seattle Water Department for City use of the Easement. We would like to know the current status of negotiations and the anticipated date that the City will have control of the surface redevelopment of this easement. We understand that the City's plan is to turn the easement into a paved road access between Logan Avenue and Morris Avenue with head-in parking on both sides. Street trees would be placed in underground wood planter boxes on the south side of the easement to help mitigate and soften the appearance of the adjacent old buildings. The north side would have street trees planted in landscape islands between parking spaces in the 17' strip of property. A curving bike trail on the north side of the easement would be a part of the City's re-development plan. Since the development of this easement is very aesthetically important to our Project we would like to review and accept the design drawings that will be used for approval of City funding at the August 18`h Council meeting. We would also like to have the City's contemplated schedule for start and completion of this project to see how it will fit with our construction schedule. 6. We have detailed the mitigation fees on pages 2 & 3, item#4 that DHI will agree to. These mitigation fees have been provided to us by City staff and hopefully will be agreed to as the maximum mitigation fees 5 for the Project. Furthermore, as stipulated under the zoning code, we understand that the City or SEPA will not require any retail parking spaces in the under building security parking garage. 7. We have had an excellent working relationship with regard to coordination of design and permitting with City staff. The City has demonstrated a willingness to solve problems which in turn has facilitated the total process to date. As stated in Exhibit B to the Memorandum of Understanding, 30 days has been allocated for SEPA Review but in verbal communications with the City we have been informed that realistically six (6) to eight (8) weeks will be required for a DNS to be issued. We have no problem with this because during that entire period we will be completing working drawings. We have been informed by the City that the 60 day permit issuance phase is adequate time and in what we have seen to date have no reason to question it. We are diligently working to complete our Feasibility work, however before we can remove the Feasibility contingency we need to be assured as to where the City stands on their obligations as stipulated in Exhibit A. In order to complete our Feasibility we need to know that our understandings are accurate and we need more information concerning the questions we've asked in this letter. Sincerely, DALLY HOMES, INC. c� Donald F. Dally President cc: Rebecca Lind- Long Range Planning Section Charlie Laboda- Vice President, DHI Scott Harkey - KTH Architects Scott Missall - Short Cressman &Bergess 6 RECEIVED CITY OF RENTON AUG 141997 MEMORANDUM RENTON CITY COUNCIL DATE: August 15, 1997 TO: Kathy Keolker-Wheeler, President City Council Members VIA: Mayor Jesse Tanner FROM: Sue Carlson, Economic Development Director, (x4419) SUBJECT: Committee of the Whole Presentation for August 18, 1997 At Monday night's Committee of the Whole meeting, staff will brief the Council on staff's recommended resolution of the issues that were detailed in the June Memo of Understanding (MOU) signed the City and Dally Homes. The MOU listed six issues that were to be negotiated between the City and Dally Homes in order for Dally Homes to proceed with the purchase of the property for its mixed use development. The six issues are: 1. Reconfiguration/realignment of Smithers and Logan 2. Agreement on street/sidewalk improvements to Logan Avenue 3. Timing and costs for the Phase One development of the Piazza 4. Agreement with Seattle Water District to lease the pipeline right-of way and development of right of way for public parking and pedestrian trail. 5. Acquisition of narrow strip of property directly north of the pipeline for public parking. 6. Agreement between the City and Dally Homes on the mitigation fees associated with this development. At the Committee of the Whole meeting, staff will be making a presentation to the Council'on each of these issues. Budgets,timelines and preliminary design have been developed for each of the public infrastructure elements. A design team which included city staff,the architect for Dally Homes and the consultant working on the Transit Center,worked together to develop a coordinated approach to both the private and public elements of this plan. Included in the briefing packets for this meeting are: color renderings of the proposed public improvements; a timeline of all the major projects,both public and private,proposed for the area; a table of funding sources and allocations; and a memo detailing the administration's recommended resolution of the six issues included in the MOU. The staff presentation will focus on the public improvements necessary for Dally's project to proceed. Council approval of the staff recommendations will be necessary for the Dally Homes project to proceed. At a future meeting, the Council will be updated on the Transit Center and the status of all improvements,both public and private planned for this area. �..+' CITY OF RENTON MEMORANDUM DATE: August 15, 1997 TO: Kathy Keolker-Wheeler,President City Council Members FROM: Mayor Jesse Tanner STAFF CONTACT: Sue Carlson, Economic evelopment Director, (x4419) SUBJECT: Downtown Redevelopment Project Background In February of 1997, the city issued a request for proposal seeking the participation of a private developer to build a mixed use retail/residential project on City-owned property in downtown. After publication and solicitation of proposals and interviews, Dally Homes was selected as the best potential developer for the site. Dally Homes' proposal includes 107 high end apartments built over one level of structured parking and 4,600 square feet of retail space. Mr. Dally's purchase and development of this property is dependent on the city and Mr. Dally negotiating an agreement on several critical factors. In June of 1997 the City signed a memorandum of understanding with Dally Homes establishing an exclusive ninety day feasibility period to jointly investigate the feasibility, scope, design, timeline and cost of the project. Issues requiring resolution included the realignment of Logan and Smithers, the cost of upgrading the streetscape on Logan Ave, initial improvements to the piazza, and improvements to the Seattle Water Pipeline Right of Way. While City staff was investigating project costs and construction schedules,Dally Homes initiated market feasibly studies,began a Level II Environmental Assessment of the property and started work on the design of the project. At this point, staff has completed construction estimates and timelines for the public improvements to the area and is seeking Council approval to enter into a binding development agreement with Dally Homes that specifies the respective work, responsibilities and contributions of both parties. Issues 1. Reconfiguration and/or realignment of the intersection of Smithers,Logan and Third Ave: Although this idea was originally thought to have public benefit by providing a smoother traffic flow and expanded turning radiuses, upon further review both Dally Homes and City i staff determined that this was not good idea. Reconfiguration would draw traffic to Logan and would not contribute to the ambiance that Dally Homes is seeking. An alternative suggested by the City and approved by Dally Homes would create a gateway feature at the corner of Third and Logan. This would provide the Dally Project with a focal point on Third and would also create the impression that the Piazza extends across Logan and connects with improvements to the Seattle Pipeline Right of Way. Cost: $50,000 2. Completion of phase one development of the piazza; and Master Plan for final development. Phase.one includes demolition of the Sound Mazda showroom,removal of asphalt and seeding of property. Parks department believes that the work can be accomplished by March of 1998. Master Planning for final design of piazza will begin in September or October. Cost:Phasel-$200,000; MasterPlan $35,000 3. Street Improvements to Logan Ave between 2nd and 3rd . Improvements proposed include: widening the sidewalks; adding street trees and amenities; pedestrian scale light fixtures, improvement to facilitate transit; and provide on-street parking immediately adjacent to the Dally Homes project on the west side of Logan. $200,000 of funding for this project will be allocated from the Downtown Transit Acess program and the CBD Transportation and Streetscape program. Cost: $350,000 4. Leasing the Seattle Pipeline ROW and developing public parking with a pedestrian walkway. The Downtown Renton Revitalization Plan, adopted by the city in 1993, calls for the development of the Seattle Waterline ROW as an urban trail interspersed with small pocket parks and parking for adjacent uses. Staff has developed a plan that would add 45 parking spaces as well as providing landscaping and a pedestrian trail. This amenity will serve as a buffer between the backs of businesses fronting on Third Ave S and of the Big 5 store, and the Dally project. This also provides Dally with an off street entrance to the parking garage which will allow additional landscaping opportunities on Morris Ave. Cost: $250,000 5. Purchase of narrow strip of property on the north side of the Seattle Pipeline ROW for inclusion into the improvements to the Seattle Pipeline ROW. Staff has contacted the property owner about selling or donating this property to the city. Cost: $35,000 6. Mitigation Fees Based on preliminary review of building size and number of proposed units,the mitigation fees for this proj ect will be approximately$121,000 . These numbers are subj ect to revision if the size of the project changes. Financial Information Revenues and Expenses ' Revenues Sale of Property $475,000 Sales Tax on Construction 54,400 (80%of$8 million x.0085) Mitigation Fees 121,178 Total Revenues $650,578 Expenses Sources of Funds Reallocation New Funding Reconfiguration of Smithers,Logan Third NA Gateway Feature $ 50,000 Street and Pedestrian Improvements on Logan $200,000 150,000 Development of Piazza(first phase) 200,000 35,000 Development of Seattle Pipeline ROW 250,000 Purchase of Property N. of Seattle Pipeline 35,000 Total City Investment $400,000 $520,000 Estimated Annual Revenues from Project Revenues Property Tax $30,000 Sales Tax 5,000 (4,600 sf x $125/year x .0085) Total $35,000 Next Steps Upon approval by the City Council of the expenditures for public improvements, the administration will notify Dally Homes of the City's intent to proceed with this project. An ordinance will be drafted for Council approval which details the scope of work, expenditures and timelines for completion of the improvements. It will also direct the Mayor to enter into a Purchase and Sale agreement with Dally Homes and complete the sale of the property. The public and private portions of this major downtown redevelopment project are estimated to be completed by the Fall of 1998. Recommendation City Council approve the reallocation of funds and the new funding required to complete the public infrastructure improvements detailed in this memo. attachments: financial information timeline color renderings M LLJ C 00 LL O O ^ O O N Ln O C I I I 1 1 C 'T O O V L rO Z w w w O y A d v d d v •j a._ •3 d O a; ami O d O d O N O N O Cd O Nce O� OK 004.' pd' O '^ 1 '^ v O O 1 I 1 t p 'n rn C N c C C Ln c N c w= ° ww wti w�i ww to LL - v 4q z Z CE Z Z Z Z Z N W d Z � a Q O O tv O. O J F d c _ J cn >- 0 O q u v U ° E-c d o m o E0D o o Z U c O O.N Q Z N E •1O N w (n C F'- V 4. ` O V Z Q Z a c da v a iz E0 v c a -C M w o E 2 LU F- c x O C R W C H = E w m f... CC > w O O H vt Z C m RM O. Z 7 _ OpU •On pC mC m !"°D Q •E7 2 U7 >L.R in OddC- c O E tLOp°n d° a E° ` ' aj c p w .0 p C 'O: L R > W > d > Z F" OD R M C 09 U G of ° Z L C d c c c C4c an d a er O ed C R R4 v 'p c d E d 000% v en r o f tn eo c ° a r a Q ro ° F^,00 R R ^ eQ E w C m >C C p•O 4 y 7 m c N E Ln y d N R W .^- R CN C C Hw ww o a+ A .^ c Ev �_ c V E c c c Do } m N > A m °1 > c c A A p tY 7 4• A A O R c p G 6 ; dl v C d ` R 4• R d Y O C C C p .R L d= d ~ ° > V ° m E o � m� u �, 00� k COL 5 c eke o eY'e Q m CA. 3 Z vii v0i in rr✓ fir+ U dJ A O z Y U O Y N cn OA Q cn � I I d U O � z ¢ - A W o U � O cn to l z H z � W O � a a � O W A H W a z Z > > w (z H O > W 04 0' > W a W > A ¢ z .� H OF co �, 0 a A a L L L L L INCe J.onsukanft L L L L s m Appraised by Denise M. Lane, MAI m r Bruce C. Allen &Associates, Inc. !1� 19044DL.DOC Complete/Summary ASSUMPTIONS AND LIMITING CONDITIONS This appraisal report was made after personal inspection of the property identified in this report. The conclusions in the report have been arrived at and are predicated upon the following conditions: (a) No responsibility is assumed for matters which are legal in nature, nor is any opinion rendered on title of land appraised. Title to the property is assumed to be good and marketable unless otherwise stated in this report. (b) Unless otherwise noted, the property has been appraised as though free and clear of all r liens, encumbrances, encroachments, and trespasses. (c) All maps, areas, and other data furnished your appraiser have been assumed to be correct; however, no warranty is given for its accuracy. If any error or omissions are found to exist, the appraiser reserves the right to modify the conclusions. Any plot plans and illustrative material in this report are included only to assist the reader in visualizing the property. (d) It is assumed there is full compliance with all applicable federal, state, and local environmental regulations and laws unless otherwise stated in this report. (e) It is assumed all applicable zoning and use regulations and restrictions have been complied with, unless a nonconformity has been stated, defined, and considered in this appraisal report. (f) The appraiser has no interest, present or contemplated, in the subject properties or parties involved. (g) Neither the employment to make the appraisal nor the compensation is contingent upon rr the amount of the valuation report. (h) 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 have been withheld or overlooked. (i) Possession of this report, a copy, or any part thereof, does not carry with it the right of publication, nor shall the report or any part thereof be conveyed to the public through advertising, public relations, news, sales, or other media valuation conclusions, identity of the appraiser, or firm, and any reference made to the Appraisal Institute or any professional designation. 0) There shall be no obligation required to give testimony or attendance in court by reason of "r this appraisal, with reference to the property in question, unless satisfactory arrangements are made in advance. (k) This appraisal has been made in accordance with rules of professional ethics of the Appraisal Institute. (1) No one other than the appraiser prepared the analysis, conclusions, and opinions concerning real estate that are set forth in the appraisal report. (m) Statements or conclusion offered by the appraiser are based solely upon visual examination of exposed areas of the property. Areas of the structure and/or property which are not exposed to the naked eye cannot be inspected; and no conclusions, representations, or statements offered by the appraiser are intended to relate to areas not exposed to view. No obligation is assumed to discover hidden defects. i Bruce C. Allen &Associates, Inc. r 19044DL.DOC Complele/Suntntary ASSUMPTIONS AND LIMITING CONDITIONS (n) Unless otherwise stated in this report, the existence of hazardous waste material, which may or may not be present on the property, was not observed by the appraiser. The appraiser has no knowledge of the existence of such materials on or in the property. The appraiser, however, is not qualified to detect such substances. The presence of substances such as asbestos, urea-formaldehyde foam insulation, or other potentially hazardous materials may affect the value of the property. The value estimate is predicated on the assumption that there is no such material on or in the property that would cause a loss in value. No responsibility is assumed for any such conditions or for any expertise or engineering knowledge required to discover them. The client is urged to retain an expert in this field, if desired. (o) Statements, representations, or conclusions offered by the appraiser do not constitute an express or implied warranty of any kind. (p) Neither appraiser nor Bruce C. Allen & Associates, Inc. shall be liable for any direct, special, incidental, or consequential damages whatever, whether arising in tort, negligence, or contract, nor for any loss, claim, expense, or damage caused by or arising out of its inspection of a property and/or structure. rw (q) The Americans with Disabilities Act (ADA) became effective January 26, 1992. We have not made a specific compliance survey and analysis of this property to determine whether or not it is in conformity with the various detailed requirements of the ADA. It is possible that a compliance survey of the property, together with a detailed analysis of the requirements of the ADA, could reveal that the property is not in compliance with one or more of the requirements of the Act. If so, this fact could have a negative effect upon the +� value of the property. Since we have no direct evidence relating to this issue, we did not consider possible non-compliance with the requirements of ADA in estimating the value of the property. 190/�IDG.DOC Bruce C.Allen &Associates, Inc. � Cornplete/Suntntary r� TABLE OF CONTENTS Assumptions and Limiting Conditions Page Subject Property Photographs i Summary Appraisal Report - Complete Appraisal �. PHistoryand Ownership......................................................................................... 2 urpose of the Appraisal....................................................................................... 2 Interests Appraised............................................................................................... 2 Intended Use of Report ...................... . 3 . ................................................................. Appraisal Development and Reporting Process................................................... 3 SpecialAssumptions ............................................................................................. 3 Abbreviated Neighborhood Description................................................................ 4 PropertyDescription............................................................................................. 7 Zoning AssessedValue................................................................................................... 8 Highestand Best Use............................................................................................ 8 .� Valuation .................................................................... ComparativeAnalysis..........................................................................................11 ADDENDA Qualifications of Appraiser i r r i 19044DL.DOC Bruce C.Alle7t &Associates, Inc. Complelel Sunt mare SUBJECT PROPERTY PHOTOGRAPH . a kms:, View looking southwest across subject site from Burnett Avenue ' View of subject parking lot from S. 4th Street ' Bruce C.Allen &Associates, Inc. 190ddDL.DOC Coneplele/Su.ntrrtary SUBJECT PROPERTY PHOTOGRAPH { i i H" :l• Looking along S. 4th Street "-.Fyowyy iy'. . � � \X51► ��1�°j7v "`+� -, ..I,. _ -.,_�y- -r•-ems Looking • • • Burnett • venue — subject site is left side of photo. Bruce i Associates, 19044DL ., BRUCE C. ALLEN & ASSOCIATES, INC. Real Estate Appraisers and Consultants " Bruce C.Allen,MAI, CRE,President Denise M.Lane,MAI Murray Brackett,MAI r. SUMMARY APPRAISAL REPORT - COMPLETE APPRAISAL �. This is a Summary Appraisal Report which is intended to comply with the reporting requirements set forth under Standards Rule 2-2(b) of the Uniform Standards of Professional Appraisal Practice (USPAP)for a Summary Appraisal Report. As such, it presents only suinlnary discussions of the data, reasoning, and analyses that were used in the appraisal process to develop the appraiser's opinion of value. Supporting documentation concerning the data, reasoning, and analyses is retained in the appraiser's file. The depth of discussion contained in this report is specific to the needs of the client and for the intended use stated below. The appraiser is not responsible for unauthorized use of this report. Client: Ms. Sue Carlson City of Renton .. Economic Development Neighborhoods & Strategic Planning 1055 South Grady Way r Renton, Washington 98055 Appraisers: Denise M. Lane, MAI Bruce C. Allen & Associates, Inc. 10655 NE 4th Street, Suite 221 Bellevue, Washington 98004-5022 Appraised Real Estate: The subject of this appraisal is five full and one partial ,.. city lots containing 25,300 square feet, located at the northwest corner of Burnett Avenue and S. 4th Street in Renton's Central Business District. The site is r vacant and is used as a surface parking lot. File ID: 19044 Interest Valued: Fee simple Effective Date of Value: March 3, 1999 Date of Report: March 9, 1999 10655 N.E.4th Street, Suite 221 Bellevue, Washington 98004-5022 (425)450-4040 Fax(425)688-1819 TDD For Speech-and Hearing-Impaired: 1-800-833-6388 19044DL.DOC Connplete/Sururuary ., Legal Description: Portion of Lot 16 and Lots 17 — 21, Block 33, Smithers First Addition to Renton. This site is also referred to as Tax Account 783930- 0305 & 783930-0315 History and Ownership The subject site is owned by the City of Renton. This site and many other parcels were acquired from Howard Sheridan in July 1995 for $900,000. Purpose of the Appraisal The purpose of this appraisal is to estimate the market value of the fee simple interest in the subject property, as of March 3, 1999. Market value is defined as:' The most probable price which a property should bring in a competitive and open market under all conditions requisite to a fair sale, the buyer and seller each acting prudently and knowledgeably, and assuming the price is not affected by undue stimulus. Implicit in this definition is the consummation of a sale as of a specified date and the passing of title froin seller to buyer under conditions whereby: 1. buyer and seller are typically motivated; 2. both parties are well-informed or well-advised and acting in what they Consider their best itnterests; 3. a reasonable time is allowed for exposure in the open market; rr 4. payment is made in terms of cash in United States dollars or in terms of financial arrangements comparable thereto;and 5. 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. Interests Appraised Fee.simple interest is defined as:2 The inaxitmuln possible estate one can possess in real property. A fee simple estate is the least limited interest and the most complete and absolute ownership in land; it is of indefinite duration, freely transferable, and inheritable. Fee simple title is sometimes referred to as "the fee." All other estates may be created from it, which means that all other estates must be something less than fee simple (such as life 1Source: Office of the Comptroller of the Currency under 12 CFR, Part 34, Subpart C-Appraisals, 34.42 Definitions [f). 2From The Appraisal of Real Estate, Tenth Edition, 1992,Appraisal Institute, page 122. Bruce C.Allem &Associates, Inc. 19014DL.DOC 2 Complete/Summary w estates, leaseholds, etc.). Any limitations that exist on the control and use of the land held 17 fee do not result from the Mature of the estate itself but are the result of the limitations of Eminent Domain, escheat,police power, and taxation. i Intended Use of Report The site is to be surplussed by the City of Renton. Appraisal Development and Reporting Process r The scope of this appraisal is the Sales Comparison Approach as the site is vacant land. Various documents were reviewed, including the City's Comprehensive Plan and zoning code. Recent sales and listing data was collected by researching TRW/Experion, NWMLA, and COMPS, Inc., as well as using an in-house database. To develop the opinion of value, the appraiser performed a Complete Appraisal process, as defined by the Uniform Standards of Professional Appraisal Practice. This means that no departures from Standard 1 were invoked. This Summary Appraisal Report is a brief recapitulation of the appraiser's data, analyses, and conclusions. Supporting documentation is retained in the appraiser's file. Special Assumptions I have been provided no information regarding the presence or absence of hazardous waste on the subject property. This appraisal assumes the absence of any and all hazardous waste on the subject property. If hazardous waste is found to be present on the subject property, I reserve the right to change the valuation contained in this report. It is noted that much of the downtown core area of Renton may have at one time been part of the Cedar River bed. Consequently, soils in the area tend to be unsuitable for intensive development. Historically, the vast majority of buildings constructed in the CBD have been one- to twor=stories in height — very few have incorporated parking garages. Soils have, therefore, not been an issue. Subsurface parking garages are expensive to build and typically a developer would not incur Bruce C.Allen &Associates, Inc. r 19044DL.DOC 3 Completelsu»Wmary -- <� �� -tt< ,1< Rr sis crag area t t n�'-hr! cwAs N-E E S ImX s �' S li4Ro'i Rrcrarrwtu a 174 sT 6TH ST per, � �-. .�'_- m' �► 6TH �.� a' z i o� PLN IJE s SP KTAl � V 9�!W` SZ `J :� nurt z z = }' BRO J y 5 OL l0�]t� t �r RlNFDN Z F.l HE W NC XF �z6T F�ST �I XF ara N H ST `unNo r5 z� w Xs ndaru �i Sptti Q 1 WINDSOR FERND6LE Ra,. <' S S 128TH .m ST Iz8Tx lye Nw 4 sT' -+ 1 N 4TH z ST a�� ST' HILLSPARK _ 2500 t 1100 ` Z Z 2 p Ln PARI N sT 2� m F,yTo Cl 5 1307X^ w 2 J W 3RD a F S\ s a I>Orx _ ST 5� N o J Nu CC o m n a s ST m 1 o - z z4 O RENTON 2 W - v AIRPORT zN g N AIR ORT WY Sro N _ S 132ND ST _ _ 2ND <' S nwcln QST s +9 Isr 2N ST = NE !yy $T ` S i N TILLICLM �, 0 1100 H MOH fir,, -- TOBIN Sr Ae rfP i S soy '< r $ I a S VICTORI 3GO a' vcas TART ` �'.\ sr OQp�S, 17 o L w P /CT 134�TH� I SHI2NORS7 T > Is8 RENTON Z PAN PAW .y\ lIBER7Y �' `. w MOUNT , SW Sr �h c H$ O N N a PARK dA �, i ¢ tir OLIVET rN r H ti LANG N v NGS H I Z S - ZN S J R ,`CEDAR ,. 03 CEMETERY $~ Y < h UTAG7Cw a i 2ND PL 100 N tai > ' 3 I'PARR v R S+5 N oo ¢ FS = ®° !"RIVER'_'_PARK �N ~� 900" Q3 as■ Q S 3RD ST <' R" '° AARE I h 6O� Q .1 1 PO 7 O y? 1 1 PL SH/ SUN 4TH < r ? ,'. sNTM vc P FRED nr CrT 8 0KAM NI � MEYER 5 ►TH �� oo B T' ` 0�/' C`y IFMI O BNSF I r v RENTON yG PC vs 5TH s ST s 5rx e CENTER Y m J oy RIVERV mac/ \ S Q� RR g sov x' g ¢' Q S 6TH ST TR w I:t--PARK RarTT _..I N =Q =N SW 7TH q Sy h S TH ST ➢INURPar9a ` 6TH �, fl- \TH CT �� N' Z S TH T E ` 1 Fair o I o ¢N o �Q+ 00 o N S xC EO 6 PARKA GATE _6� w< 6 RIDE G v o ` 1 7 w I RENTON VILLAGE 4 s s� W ARNOLD SW y IOT = PARK-' SS ,0 W CENTER ST x .. S� 'GATE o i 1 H GRA ST E7 S R NTON VILLAGE PL qR RIOC ro SW > 300 ]2TH ',HOLIDAY f a I ¢ ]3TM INN Z Q St ,T1,5s W T ¢ � __j L �Ics €< 20 uXr sra rr -'p< vi h`"N , CA TE �P� cr 5E orf vAaa S' 15TH SW = 16TH I ST SW o sT W W SE Py o 400 16TH ST< o o S 16TH ST o I A\l J C o N < s SE -16TH PI m/ m' =LJ 6 F S 18TH P ST �* N sc eTM 'S�` �S y F¢ sF ✓y. i Trrl op po I SW 19TH ST _<19 1 v - ��I S 19TH - ST h STALBOT z� ferHcL�cr �4 3 5�9ry si SNIt'r-Tsl1sT5 I I LU PANTHER S 2or PL z),NHILL ? S m ROLLING R ` It r i I 21S7 5 '< PARK oD " PUG ET .p sr r 5T .� AV 5� i I CREEK n Sw "21ST Sr c', N 5 2No i sE 21St _ 0 NETUN4S'� r'' C7 zJ,r"J, P� tx `9 SE 21ST 21ST ST o SF~60TH SW 23RD ST S -23RD ST w I sFoSE .42149 al a N , I h J Cc P nows �r 5 MID i I` F W NPARK.` C S N + 62N0 'a�< ST Q Q U a� zsiX �1GyL ^tib T I -- k-_l."' <! SE 163RD STm � ^� 5 a54TH _ STSW ; 27THc sr isM Nan S 27TH ST �� -- SE 164TH ST f10900 {{� IIIOD .p s1i rL I w1... e pis 11700 s H s Pr S 28TH- ST SE 165TH PL e RENTON I zeP ,�s S [WETLANDS y ,e, rL 29tH `-' _E 166TH SE _29TH ST + i W 29TH ST `'1 ,yp�'A �. S pj 1�PL in W 5T - SE 167TH Sr� �� SE��166TN PL t 5 x{-SE 16 ¢ x \ 30 THCT PAATXr < _ { ¢,o sE 16 R ISW 30TH ��•. t I o{ "- —� SE � 7 ( _ I ST, caro` SE 31ST ST 1ST CT ¢' '¢I L(�rw _ a W_ _ S I .'SW �ST •+. n ,t. .S2N0 g PL N 32HD > SE 169TH l - SE 169TH S1. r w 5 >/ L x Q SE'I 170TH ST _>T_ pl S o,'/�' n r ( _ T� x E 170TH. u Neighborhood Map -1�� Bruce C.Allen &Associates, Inc. ' the added cost unless market value of the land precluded purchase of site area for surface parking. In this case, land values for the city center are relatively low and .. highest and best use does not necessarily mean construction to the maximum height allowed by the zoning code, as feasibility is a key component. For this r reason and because there is not enough market evidence to support a discount for soil conditions, no adjustments are made. i Abbreviated Neighborhood Description When Renton was first incorporated in 1901, the city was only 1 square mile in size. The expansion was achieved mostly through annexations of adjacent and nearby r areas. During 1949 to 1969, 10.8 square miles were added to the city -- 67% of its present territory. This growth was fueled by people migrating to the area to work in the booming wartime industries in Renton. During World War II, the Boeing Company's decision in 1940 to build a new plant .. at the south end of Lake Washington to produce B-17 bombers and new flying boats changed the city of Renton more than any other event in recent history. From a ,. relatively small town of about 4,500 people in 1940, Renton became a large industrial center of the Puget Sound region, with a population of 16,039 in 1950. Today, the Boeing Company is involved in producing commercial airplanes (737s, 747s, 757s, 767s, and 777s), as well as various military and space programs. Boeing's purchase of the Longacres Race Track for future construction of a i multibuilding facility demonstrates the company's commitment to the Renton area, as the city is the home of Boeing Commercial Airplane Group's world headquarters. In the decades following the 1949-1969 period, expansion has taken place slowly, .� and the city has gained only about 1.9 square miles to arrive at the current size of 16.1 square miles. The 1996 population of Renton was 45,170, making it the fourth largest city in King County, behind Seattle, Bellevue, and Federal Way, respectively. An additional 60,000 people live in the unincorporated area surrounding the city. According to Renton's recently published (February 1995) Comprehensive Plan, 16 Renton continues to be an important center of employment providing over 45,000 ' jobs. Most of the people work for the Boeing Company or PACCAR, which continue 1 Bruce C.Allen &Associates, Inc. 19044DL.DOC 4 CompletelSrunmary i to be major players in the local and regional economy. As discussed above, the air transportation industry is the leading job provider, followed by business and medical services. By comparison, the trucking and warehousing businesses are not a major source of employment. Renton is composed of sixteen distinct neighborhoods. The subject property is located in the heart of a neighborhood known as South Renton, located in the middle portion of the city of Renton. The South Renton neighborhood, as defined in "The Community Profile," is in the central Renton area, to the southwest of North Renton. The neighborhood is bounded on the north by the Cedar River and Lake Washington, on the west by Rainier Avenue S., and on the south and on the east by I-405. South Renton covers approximately 1.1 square miles and is the historical central business district of Renton. The downtown area remains fairly lively, with activity centered on government and service-related functions as it is the location of City Hall and the Renton Library. Much of the downtown retail and commercial activity, however, 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 is one of the larger retailers in the CBD. The neighborhood also includes long established single-family, duplex, and small-scale multifamily residential areas. Single-family homes in South Renton tend to have prices that range from low to moderate. i There are five major mid-rise office buildings in the South Renton neighborhood. All but one of these buildings (Evergreen) were originally build-to-suits and 100% occupied by the Boeing Company, prior to the Boeing decision to vacate many of the ,,. leased South End office buildings in 1995. Because of the Boeing pullout, office vacancy rates in the SeaTac, Renton, and Tukwila area exceeded 20% in 1995 — 1996 and rental rates were very low relative to other areas. Gradually, the vacant buildings were absorbed, including the acquisitions of the 9-story Main & Grady Building by the City of Renton as the new City Hall. Current Class A office vacancy in Renton is approximately 5%. Bruce C.Allen &Associates, Inc. il! 19044DL.DOC 5 Canplete/Suntntary t• .•oos /g�) � � !� /2 j :� IM1• ;w �`e y' ' p 116°a° ayp ao U 3 9 !• •�• 2 ` `� w 7a•� /oo �P° !• !e Z Ise':.a o R�� n3o. K Y // Y S. n° THIRD ST �/� A i n ec• zr� T e s1 3. 3. ff 44 Fe to Ff �. N {g• 0 AO } Jb / e4 So, .f N2 / x 30 �� �o /� h 0 0 /'/0� 'P I cr° j .•p ,4e° q•°bD re°°� h • 2 in M1M1l//o ' q�p °•p5 2 ° oo�S o °5 oil �} INA u a o s° a Q 4? 4 40 44 Ito Iz. o°°�4 g w Y r°° . . +� 24� 3 7 ,r°°,;+s 24 g i?C� ��•• �( o — , `°°o O O 6010 0 4 WO) � s°5/¢ ' ,o? 23, 4 8 .•°°SS e0" LyJ, ' 9 Q16° p3�23' o w� 26 J =�� o 150580p .e = Q : S O a ' 22 : 9 O •�i.° ./0130 22 _ 9 pl10 j ,ese,.d $�$ I� /3 ,.0 2/: a. /o io�l' .a�i�2/• V) oil°533 ru 2l , (� tiny/z e 11 20. I/ ,e A 0 i 0110 OI h n 7 M 0'� qq °v j Z /L a ,/2 ,to,� , 5/9 " = /2 "e 345 0I /91 Cc h 8 Q��°� + � � /O 0 00 E 0°00 �.°3 m /to M1 �•M1M J /8 /3 �° V 40.0 1018 i3 X0}4 /zo /8 50 9y do 'Y, ,o e , ,c. ,� ° •,1� °i�° 00 l t j"7 �� � 9 tto%b& $/S ..e f 1 ,•'°I./ � �° �o �/� /S t4 M1�hbS /•� ..S.. FOURTH ST. n ,r o I n',I.r. prL' �ch�s n•si••sa a. qo 4 ao F° s° Fo a , o 4 3 2 / h �/ 0 �1�q ..a • ° c ek Boa ' ISS° r°•4 o 1..•410°4 0 0 w�'•y" , M R• _ �A 'GI` In CO 0 4e so to !° •0 �` b 0 1 . ydo o e+ /O. •q' 6°� a pa 3 efj G, a" lj�°•�t',.t+'1 �5°A hi �° rAER4/ ')"11374.13 , 1pD�5s/6° a 9ss.�°' �T°•� „ ,,� - 5• +, o ,„ " �° h°�tqh ' S 1i4�3°P �'!ti,F1'!6 s' "� ,�• yr' G`' a �P ao to ao 2 0 C°pO Se a '3e t.f 3 9T �L +• /to 27 42 U3 ` 30 !0 + .e•o1f5° (0 �o/' h,�l� tip( /5 CIS G\I\o VS�Q NQo 7 re0�5 r/j0sib` •j ' 7 i1 A /4 r.j N GQ- y r,Z.t A Aft 61 ,3 36 40 •4a °`'°$ . g a : Q �� taato • ,11 6-3 —P /��ll FIFTH ST. 0 30 30 /10 r ns /10LA 4 0 0 , Y110 44 r�o 23h 2 Q°ooif 23� w 2 eec a s E3� 2 o� 5 19 ° .. ° 'e, 41h r Site Plan -<:R� Bruce C.Allen &Associates, I16c. w r. Up until recently, downtown Renton was relatively stagnant as there had been no new private development for many years. Nearly all new business growth has occurred outside the downtown core area. The only exceptions have been two senior housing projects and the "Spirit of Washington" dinner train which is located directly south of the subject site. The train tracks along Houser Way provide a physical barrier to cohesive downtown core development. One p problem with redeveloping the downtown area, in addition to poor economics, is the small a lots/numerous ownerships and small blocks creating difficulties in assembling enough land necessary to build a major project. In response to this dilemma, the City has been in the process of redeveloping the downtown core. A local transit hub will be incorporated into the new regional transit plan, old automobile dealerships (1940s-1950s vintage) have relocated to the M Auto Mall area at Grady Way and Rainier Avenue S., and the City is planning public parking and a city park. Private developers are also starting to get interested in downtown Renton. One example is the former showroom portion of Good Chevrolet, located at the .� southwest corner of Burnett Avenue S. and S. 3rd Street that was sold in March 1997 and substantially remodeled into office and restaurant space. Another is the 3-story, planned 110-unit apartment project, located between Morris and Logan Avenues, south of S. Second Street, and currently under construction. In summary, the South Renton neighborhood is fully developed, and new development will require demolition of obsolete buildings. Any growth in the area " will most likely occur if conditions in the central business district change and pressure for redevelopment or revitalization is created. Amenities will draw .. high-density multifamily residential development which in turn will enhance viability of retail and other businesses. M M Bruce C.Allen &Associates, Inc. 19044DL.DOC 6 Complete/Summary 4-2-080C C. Downtown Core Area: _ _..._ LJLJ 1. ' cIt.__.. Z ; It _ Q i ` s Renton Mur4uput Ab-port \ - I ......._ .-- ort Vny — '� J ` N 2nd t Tobin Avec �—T in—J / -- - — i N N :�..Q ..._�....... Pa S 2nd St 1 S 2md_St ....� iii ... ef _. ... N c _ S 3rd St — Li t _ ,th tL �Lh $ '. n9 2-92 Property Description Address 339 Burnett Avenue S. Site size 25,300 sf " Dimensions Irregular, but somewhat rectangular Access S. 4th St. & southbound only access from Burnett Ave. S. Topography Level Utilities All available Improvements None .. Zoning The subject site and balance of the block is zoned CD. The city recently adopted new names for certain zoning categories without changing the content of the ordinance defining permitted uses for the district. Prior to the new "CD" designation, the subject sites had been zoned CM or "mixed commercial." The purpose of the CD zone is to provide a mixed-use commercial center serving a regional market, as well as adjacent residences. Uses include a wide variety of .. retail sales, personal and professional services, multifamily residential dwellings, recreation and entertainment uses, and some light industrial. This zone is intended for the Downtown District only and meets Land Use Policy intent for that area. Permitted uses include nearly all forms of retail and service businesses, bowling alleys, restaurants, business and professional offices, multifamily residential at a relatively high density of 75 to 100 units per acre, theaters, some forms of manufacturing, and community facilities. .. There are various development standards, including a maximum allowed height of ninety-five feet (with special height allowances), maximum lot coverage of 65% to 75% for properties located outside the downtown commercial core if parking is provided within the building or within a parking garage. There is no maximum lot coverage for properties located with in the downtown core area, as shown by the opposing map.3 There are also various landscaping, setback, and bulk 3 "Downtown core area"is that area bounded by the centerlines of Smithers Avenue South from South 4th Place to South 3rd Avenue and along Morris Avenue South from South 3rd Street to South 2nd Street,bounded on the north by the Cedar River, east to Mill Avenue South, south to South 411,Avenue and west to Smithers Avenue South. This area shall also extend to the west property line of those properties fronting along the west side of Logan Avenue South between South 211d and Airport Way,but in no case shall the area extend more than 100'west of the Logan Avenue South right-of-way. ' Bruce C.Allen &Associates, Inc. 19044DL 7 Complete/Sumrnary ., requirements. The subject site falls within the downtown core area, but is at the southerly boundary. Assessed Value The two parcels are assessed for 1999 as follows: Tax Account Real Estate +� Number Land Improvements Total Taxes 783930-0305 $0 $o $0 $0.00 783930-0315 $0 $0 $0 $0.00 r The parcels do not have an assessed value because they are owned by the City of Renton, a tax-exempt entity. Other vacant sites zoned CD in Renton with similar characteristics are assessed at $9.00 per square foot. Presumably, the subject would have a similar assessment if owned by a private, taxable entity. Highest and Best Use " Highest and best use is defined4 as: r The reasonably probable altd legal use of vacant laltd or an improved property, which is physically possible, appropriately supported, finaltcially feasible, and that results in the highest value. The subject is currently zoned CD, a mixed commercial zone allowing a wide variety of retail and service uses. Existing development along S. 4th Street and Burnett Avenue S. is mostly retail and service-oriented, consisting of clothing, jewelry, antique and variety shops, restaurants, banks, and auto service. There are also many older, single-family residences, some of which have been converted to small office or retail. Burnett Avenue S. is a very wide street with striped parking stalls .. between the north and southbound lanes. Adjacent to the north is a 4-story office building — one of the taller structures in the downtown area. 4From The Appraisal of Real Estate, Tenth Edition, 1992,Appraisal Institute, page 275. rN Bruce C. Allen &Associates, Inc. r 19044DL 8 Complete/Summary .. The newest development in the area is the City of Ren ton's Piazza project, including a transit center, park and surface parking, which is currently underway. The new 110-unit apartment project is also under construction. Success and rapid lease-up of this facility could result in greater demand for downtown projects by the investor/developer community. An excerpt from Renton's Comprehensive Plan outlines the policies designed to enhance downtown Renton: Downtown is an important part of Re7Lton S past, present, and future a7td these policies strive to emphasize that point. The aim of the policies is to bri7Lg retail, office and residential uses back into the downtown in greater amounts and intensities than before. At the same time there are design criteria a7td incentives implicit and explicit i7t the policies to ensure that dow7LtOw7t develops in an efficient a7td attractive manner. The policies identify appropriate use mixes, buildi7Lg heights, a7Ld special downtow71 development standards. These should be coordinated with an urban design and AW tra7tsportation plait for dowlLtow71. The downtown policies also place a greater e7nphasis on creati7tg a land use pattern more conducive to pedestrians a7td tra7tsit. M Encouraging reside7ttial mixed use development downtown is an important part of the plait strategy for revitalizing downtown, accommodating forecast growth, and providing new housing alternatives. High density housing is also advocated for the No downtown to absorb growth a7td to create a population 17t the area to support the mixed use redevelopment envisioned for the area, a7td to support transit serving downtown. ,rr Considering the subject site's size, topography, location at the southerly end of the downtown core, zoning, and neighboring development, highest and best use is some sort of mixed-use development. Zoning allows multifamily residential up to a density of one hundred units per acres in the core area, but does not allow ground floor residential. Highest and best use "as if vacant" therefore, would be ground floor retail with several stories of apartments above. A 5-story building with garage .� parking could be feasible. Another option would be single-story retail or retail with office above. This option does not maximize potential height, but until the office market strengthens significantly, large-scale office is not feasible. r. 5Can be higher density, up to 150 units per acre, with administrative conditional approval. Bruce C.Allen &Associates, Inc. r 19044DL.DOC 9 Complete/Summary NE -- $ 12iR0 La � e/CCNrExxfAl PZ z g'` C s F�� F'r Si N 6TH ST �'m ,A,X � MINDS P $ �'< V 6n+ st 2 cEaR arvER Q }z r ': or pL N NE c 1 s vE y� m R t NE w Rc 126TH ST WWRIAL N H ST ;. CT S 126TH PL y r M srAO!M }> > oa QQ Jes (_ L � o i MST;7INDSOji R' FERHDNLE c3 HILLS �s s 1y R I > r z •1 1 z �� S 128TH °D ST IzeTH I IT ST — N 4TH ST o A PAS —�-- — H.'110 Si W ¢ ¢ + �' }+n > 11 W = N g 2 �' p��0 0 y hW a S a wFNTpt' s s7o N a CC O m J 3RD ¢ ¢ STs 1.- S� ST w z ENTON a 1 2N PL v Li N A sr N cy i =W ,�, rsr zN ST NE S 132ND ST 2ND <' s rlulcul �s s' q o q — ST $� ` S ICLICLM .�r0 1100 N MON, - t i F TOBIN ST AH i S Sf0 I S l 9 H S v RI 30 P[06 TAxT Y 7—PPO I CTORIA T ;'a a PARR y -S^,. ' w' �` s /' 134 3wa ST = sN!2ND s= W N n a L18ERTY AA ¢ a ACUNT OET PARK S ""'CEDAR` OSP CEMETERY N vL2m �~ <' y EA�/NGTCM '¢ SM= 2ND PL 100 N Am 1 _ - d 1 PARR a - "y �ss " y N RIVER PARK .�,.,. .SI✓ Q J RIDE 2 7� S 3 > � ��O J '1 1 ¢ PO ��--v• 7 y O •11 „> Y{ RE 1 ¢ > n C � .S{�/,�� SUN S /' SW sx TM Pi P FRED 'T ': f ti�S4, eucR Rrrk CT W of MEYER S 4M S w to oo B G 0�y �1' 1PAOLO BNSF 1 a RENTON � pL F 5T sn+ r F9� x Fp, O r CENTER G�A Y m g oy 1= RIVERVI s Q RR PARK Sp D y a' T S 6TH 5T=s r+ < TR L q � � uaxETT 13 y s¢ a - .. v m r a 5 TH ST TxEAa N 1`J TH CT ' =T SW 7TH y h Z R Po eo, 6rH S TH T E 1 �O 1 aN o ---W ¢ 100 Oy S. CED f v3io w �a PARKS �GA TE 9 b RIDE G`�'O u o � a ` E - w = W ARNOCD J I ENTON VILLAGE Z S o z 6 __ 00 SW Wy CENTER 1OT o PARK F �N SCF 3 ST �� T = S, 'GATE Oq R �' t g SWI 1 H G� St S R NTON VILLAGE PL RIOC a > 300 12 HOLIDAY m 9 s N 1551 '` p � 13TH a FCS•" '.1 N o� `� GAF `TF G W J �a urE sra Er 20 ,�'"W ``�AGATE PARX S-`4 15TH y v SW\ i i ST SW 16TH S 0 a ST W W y E �y lei s aoo 16TH ST S 16TH ST SE 16TH z v+ ¢ S — c`_s�—r � r• y THS h, S 18TH R ST ��* jsE STH , ys ¢ r� 41 fY. I r� Po I TT SW 19TH ST ��J U N ST Q9 w� 5 �� � 15 e5f�' SF J`h W SE 157TH ST 'c I S i o IB s CT 19TH y ST o STALBOi O z m a4 TSE 3s e� Si _ I_L,j PANTHER S 20r PL m zpTMHILL 'P .S mn ROLLING' Rpt D5W S �lH rJ� I [Y 1 < s 21ST 'a ��` PARK 00 " PUGET 9 �E 21sT I I CREEK N € SW 21ST ST 5 cTv�-a I NETUNDS'� g " CTZZNDPl1S��a +E 21ST ST ]60TH 1 . N SW 23RD ST S —23RDP ST w z f ;SE W 2=_°1J— — — I y naves �r 5 r� MID �� S I 62ND <L¢ S_T h Q u 6i 261- r1� y T I -.-———N w SE 163RD ST^ SW 277H Q ' C #sr tiTM N E�s 5 a> (S 27TH ST �'—WE—— 4TH "� ST N $E 164TH ST ± P l yL¢ N 1D90D�' 11100 -, 11700 ...s S q!5 1 `N CT 5 28TH`ST'< > v1< SE 1165TH fN PL 28TH J' S1gIw� y S7 .�/ m RfNTON I NETLANDS. -T1 s PL Q~� ' �N E 166TH SE ($29rH f ST <I �- Z9 I 'a t;-66TH jz ea3 1 W 29TH ST `'�Q� •�t� sy S QZ ---PL o" w IT SE 167TH ST( _I SE��166TH p� xf: r7R 5,,. Sv1 u 30 -< �I RLN oTycT N'E' '—, a 51 1611 " 5W 30TH ,Ax NF �. C s > > 2y ---—-:1 SE I :, SE 31ST ST 1 r cT a a w a W - - C ST,SM 33RD ST SqD v pl S 02ND `r' _ SE 169TH L E 169TH Ji � 5 pl = < SE 8 j 170TH ST �r ST �f SF= _lrF�- -E 110TH a ti Land Sales Map Bruce C.Allen &Associates, Inc. Valuation The subject parcels are valued by comparing recent sales or listings of vacant land near the subject with similar characteristics. Following is a summary of sales that are considered most comparable to the subject site. Comparison of these sales to the subject is complicated because of the various new zones of Renton. There are now six different commercial zones (CS, CD, COR, CN, CA, CC), three industrial zones (IL - Light, IM - Medium, IH - Heavy), in addition to a Commercial Office .. (CO) zone and a multifamily urban (RM-U) zone. Full details of these sales are retained in our files. Comparable Land Sales w Sale Sale Size Price/ Sale Location Date Price (sf) sf Zone 1 611-617 S. 3rd Street 03/97 $ 210,000 # 20,160 $ 10.42 CD 2 a) 338 S. 3rd Street 01/97 $ 65,000 5,632 $ 11.54 CD b) 338 S.2nd Street 12/98 $ 85,000 # 5,632 $ 15.09 CD 3 526 S. 2nd Street 07/98 $ 140,000 10,000 $ 14.00 CD 4 215 Burnett Avenue S. 01/98 $ 210,000 12,959 $ 16.20 CD 5 a) 110 Williams Avenue 09/98 $ 485,000 24,000 $ 20.21 RM-U b) 110 Williams Avenue Listing $ 1,071,000 24,000 $ 44.63 RM-U r 6 58 Logan Avenue S. 03/98 $ 127,000 8,100 $ 15.68 CD $ 103,000 # 8,100 $ 12.72 # Analysis price after extracting improvement value. r Sale 1 is the sale of a former 1-story automobile dealership showroom building containing 15,066 square feet. A new dealership for Good Chevrolet was recently completed in the Auto Mall area of Renton; this property at the southwest corner of Burnett Avenue and S. 3rd Street was sold to the Good Partnership who has totally " remodeled the facility, changing its use to office and restaurant. Although parties were related, it was reported the sale was based on market value. A $10.00 per square foot building shell value is estimated, resulting in a residual land value of $10.42 per square foot. Sale 2 is located at the northwest corner of S. 3rd Street and Whitworth Avenue S. r It is a rectangular site with forty-four feet of frontage on S. 3rd Street and was improved with a 1937-vintage, 1,562-square-foot, wood-frame warehouse building of nominal value in the earlier January 1997 Sale. The buyer refurbished the building in 1997 and sold it in December 1998 for $124,000 or almost double the Bruce C.Allen &Associates, Inc. r 19044DL.DOC 10 Complete/Summary r •• price. Allocating a value of$25 per square foot for the building ($39,000) results in a land residual value of $85,000 or $15.09 per square foot. The property continues to be used as an automobile repair facility. Sale 3 is located at the northwest corner of S. 2nd Street and Logan Avenue S., r directly across the street from the Transit Center. The two 100' x 50' lots are level and improved with a 754-square-foot woodframe building constructed in 1949, which does not contribute value. It is currently vacant but was formerly used by Renton Auto Electric. r Sale 4 is another purchase by the City of Renton for the Transit Center project. r The site is 12,959 square feet and had an old house on it that has since been demolished. r Sale 5 is a 120' x 200' site located along the east side of Williams, approximately 300 feet north of S. 2nd Street. The site was purchased by MKD in September of 1998 for $485,000. Plans and permits for a 63-unit apartment building, including parking garage, were subsequently obtained, and the site is now listed for $17,000 +.. per unit, of which approximately $2,000 per unit can be attributed to plans and permit value resulting in an asking price equivalent to $39.38 per square foot — r clearly overpriced based on the recent acquisition. According to the listing agent, this site has soil issues because it was riverbottom at one time and construction will require use of piers. .. Sale 6 is located 100 feet north of Tobin along the east side of Logan Avenue S. The site is level at street grade and is improved with a 1,200-square-foot, metal-clad office/warehouse constructed in 1976. Allocating $20 per square foot for the �. building value results in a land only price of approximately $12.72 per square foot. r Comparative Analysis Sales 1 and 2 are representative of a few older CBD sales, but each has improvements that continue to be used. A $10.00 per square foot building shell value was deducted from the sales prices of Sale 1, resulting in a "land only" value indication of$10.42 per square foot. Sale 2 also has improvements that continue to be used and was, in fact, renovated by the 1997 buyer. Sale 3 is a good sale of a Bruce C.Allen &Associates, Inc. 19044DL.DOC 11 Coruplele/Summary corner at $14.00 per square foot, assuming no value contribution by the small building. Sale 4, at $16.20 per square foot, was a recent purchase by the City for the Transit Center project with a superior location. Sale 5 is just outside the downtown core area but has a high-density apartment zone. The listing price appears to be inflated. Sale 6 is somewhat north of the establishing downtown area similar to the subject sites southerly fringe location. Consequently, this sale, at an indicated $12.72-per-square-foot land value, is similar to the subject. In addition to these sales north of S. 3rd Street, three other sales were found of older i dilapidated houses on 4,800-square-foot lots, zoned CD. The sales occurred in 1998. All three are between S. 3rd and S. 4th Streets and front Morris or Whitworth Avenue. The sale prices ranged from $89,000 to $115,000, or $18.73 to $23.96 per square foot of site area without considering house value. All three houses appear to be occupied, although the one house selling at the low end of the range is in very r poor condition. Recognizing the zoning of the subject allowing intensive development, its size allowing highest-and-best-use development without the need to assemble and its r location in the southerly fringe of the transitioning downtown core area, the site is valued at $14.00 per square foot, or: 23,500 sf @ $14.00/sf = $350,000 M Bruce C.Allen &Associates, Inc. 19044,DG 12 Complete/SIMUnary CERTIFICATION OF VALUE I, the undersigned, do hereby certify that I have personally inspected the property located at the northwest corner of Burnett Avenue S. and S. 4th Street in Renton, Washington, and have prepared the analyses, opinions, or conclusions of value. To the best of my knowledge and belief, the statements of fact contained in this report and upon which the opinions herein are based are true and correct, subject to the assumptions and limiting conditions explained in the report. Employment in and compensation for making this appraisal are in no way contingent upon the value reported; it was not based on a requested minimum valuation, a specific value, or the approval of a loan. I certify that I have no interest, either present or contemplated, in the subject property. I have no personal interest or bias with respect to the subject matter of the appraisal report or the parties involved. I certify that, to the best of my knowledge and belief, 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 the Standards of Professional Appraisal Practice of the Appraisal Institute, as well as in conformance to the USPAP adopted by the Appraisal Standards Board of the Appraisal Foundation. This appraisal report identifies all of the limiting conditions (imposed by the terms of my assignment or by the undersigned) affecting the analyses, opinions, and conclusions contained in this report. .. No one other than the undersigned, with the exception of the person(s) shown on additional certifications) if enclosed, prepared the analysis, opinions, or conclusions concerning real estate that are set forth in this appraisal report. I certify that the use of this report is subject to the requirements of the Appraisal Institute relating to review by its duly authorized representatives. As of the date of this report, I have completed the requirements of the continuing education program of the Appraisal Institute. .. In my opinion, the market value of the fee simple fee interest in the subject property, as of March 3, 1999 is: .r THREE HUNDRED FIFTY THOUSAND DOLLARS ($350,000) Denise M. Lane, MAI State Cert.#LA-NE-*D-M442PT r w Bruce C.Allen &Associates, Inc. 19044DL.DOC 13 Complete/Suuunary ' Addenda Bruce C. Allen &Associates, Inc. 19044DL.DOC Complete/Sum merry QUALIFICATIONS ,,. DENISE M. LANE, MAI Experience Engaged in the real estate appraisal profession since 1980; awarded the MAI designation in 1987. Appraisal expertise covers a wide variety of property types, including apartment buildings, commercial and industrial real estate, subdivision analysis, highest and best use studies, partial interest (leasehold/leased fee), condemnation, and special purpose, including schools, medical office, auto dealerships, and retirement apartments. 1983 to Present: Vice President of Bruce C. Allen & Associates, Inc., located in Bellevue, Washington. Responsibilities include appraisal of all forms of commercial and industrial real estate, with special emphasis on discounted cash flow valuation techniques using LOTUS, EXCEL, PRO-JECT and ARGUS (lease analysis) programs. 1980 to 1983: Staff Appraiser for American Appraisal Associates, Inc., located in Seattle, Washington. Responsibilities included valuation of various commercial and industrial properties, .. with a heavy emphasis on special-purpose. Education University of Washington, Business Administration The Appraisal Institute conducts a program of continuing education for its designated members. MRIs who meet the minimum standards of this program are awarded periodic educational re-certification. I am currently certified under this program through December t� 1998. r Courses - AIREA, R.E. Appraisal Principles, 1980 rr AIREA, Capitalization Theory and Techniques, 1981 AIREA, Basic Valuation Procedures, 1981 AIREA, Case Studies in R.E. Valuation, 1984 AIREA, Standards of Professional Practice, 1985, 1993 AIREA, Report Writing, 1992 Seminars - AI, Valuation Trends, Appraising in the 90's, 1992 AI, Appraisal Reuiew Symposium, 1992 AI, FIRREA Overview & Practical Application, 1993 Al, Apartment Complex Valuation, 1993 CRE, 1993 High Level CRE Conference Bruce C.Allelt &Associates, Inc. 19044DL.DOC Complete/Suitttnary QUALIFICATIONS +� DENISE M. LANE, MAI (cont.) Other Qualified as expert witness in King County Superior Court. Work in Washington state has been performed in King, Snohomish, Pierce, Kitsap, Skagit, •. and Thurston Counties. Have appraised in the States of Washington, Oregon, Idaho, Montana, Alaska, California, Utah, Texas, and New York. Professional Affiliations MAI (Member of the Appraisal Institute) Washington State Real Estate Sales License .. Member, CREW (Commercial Real Estate Women) Regional Representative for Appraisal Institute, 1994-1995 r Partial Client List Attorney General's Office Football Northwest Anchor Savings Bank Frontier Bank Bank of America Intrawest Savings Bank Cascadia Development Corp. Key Bank of Washington Citybank Kidder Mathews & Segner City of Bellevue King County Housing Authority City of Des Moines McCaugherty Development Corp. City of Issaquah Metro City of Kent Mitsubishi City of Renton Puget Power Clay Enterprises Rabanco Construction Lending Corp. of America Seattle School District Continental Savings Bank Skillingstad Construction Covenant Mortgage Corp. US Bancorp Development Services of America US Bank of Washington Edmonds School District Various Local Attorneys Everett Mutual Bank Virginia Mason Medical Center .. FDIC Weyerhaeuser Company First Mutual Bank Windermere Real Estate r State Certification Number - General: LA-NE-*D-M442PT Expiration: 10/30/99 r 11/06/97 r Bruce C.Allen &Associates, Inc. 19044DL.DOC Complete)Summary .. MAR 1 5 1999 Summary Appraisal Report - Complete Appraisal of Parking Lot Site Location Northwest corner of Burnett Avenue S. and S. 4th Street Renton, Washington r Date of Valuation r March 3, 1999 �r. Appraised by Denise M. Lane, MAI .r Bruce C.Allen &Associates, Inc. 19044DG.DOC Contplete/Sununan ASSUMPTIONS AND LIMITING CONDITIONS This appraisal report was made after personal inspection of the property identified in this report. M The conclusions in the report have been arrived at and are predicated upon the following conditions: (a) No responsibility is assumed for matters which are legal in nature, nor is any opinion M rendered on title of land appraised. Title to the property is assumed to be good and marketable unless otherwise stated in this report. (b) Unless otherwise noted, the property has been appraised as though free and clear of all M liens, encumbrances, encroachments, and trespasses. (c) All maps, areas, and other data furnished your appraiser have been assumed to be correct; however, no warranty is given for its accuracy. If any error or omissions are found to M exist, the appraiser reserves the right to modify the conclusions. Any plot plans and illustrative material in this report are included only to assist the reader in visualizing the property. M (d) It is assumed there is full compliance with all applicable federal, state, and local environmental regulations and laws unless otherwise stated in this report. M (e) It is assumed all applicable zoning and use regulations and restrictions have been complied with, unless a nonconformity has been stated, defined, and considered in this appraisal report. M (f) The appraiser has no interest, present or contemplated, in the subject properties or parties involved. (g) Neither the employment to make the appraisal nor the compensation is contingent upon M the amount of the valuation report. (h) 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 have been withheld or overlooked. (i) Possession of this report, a copy, or any part thereof, does not carry with it the right of publication, nor shall the report or any part thereof be conveyed to the public through advertising, public relations, news, sales, or other media valuation conclusions, identity of ■■ the appraiser, or firm, and any reference made to the Appraisal Institute or any professional designation. 0) There shall be no obligation required to give testimony or attendance in court by reason of M this appraisal, with reference to the property in question, unless satisfactory arrangements are made in advance. (k) This appraisal has been made in accordance with rules of professional ethics of the Appraisal Institute. (1) No one other than the appraiser prepared the analysis, conclusions, and opinions concerning real estate that are set forth in the appraisal report. (m) Statements or conclusion offered by the appraiser are based solely upon visual examination of exposed areas of the property. Areas of the structure and/or property rr which are not exposed to the naked eye cannot be inspected; and no conclusions, representations, or statements offered by the appraiser are intended to relate to areas not exposed to view. No obligation is assumed to discover hidden defects. M M Bruce C.Allele &Associates, Inc. M 19044DG.DOC Cotnplele/Suntntary 10 CITOF RENTON Office of the City Attorney Jesse Tanner,Mayor Lawrence J.Warren CITY OF RENTON MEMORANDUM AUG 10 1999 RECEIVED CITY CLERK'S OFFICE To: Marilyn J. Petersen, City Clerk From: Anne Santos,Legal Assistant Date: August 9, 1999 Subject: The City of Renton v. Big 5 Holdings, Inc. I am enclosing a recorded copy of the Stipulated Judgment and Decree of Appropriation and Order Allowing Disbursement of Funds, with Summary Judgment and Settlement Agreement in the above-referenced case for the City's records. A copy is also being retained for our file. Anne Santos AS:as. Enclosure A8:164,06. Post Office Box 626 - 100 S. 2nd Street - Renton, Washington 98057 - (425)255-8678 ®This paper contains 50%recycled material,20%post consumer ' F „ to �O T RETURN ADDRESS: WARREN, BARBER, DEAN&FONTES, P.S. g P.O. Box 626 Renton, Washington 98057-0626 Document Title(s) (or transactions contained therein): 1. Stipulated Judgment and Decree of Appropriation and Order Allowing Disbursement of. Funds, with Summary Judgment 2. 3. Reference Number(s) of Documents assigned or released: Additional reference numbers on page number_of document Grantors (Last name first,then first name and initials) GC C 1. Big Five Holdings, Inc. C) 2. � 3. C 4. Additional names on page_of document. Grantees (Last name first, then first name and initials) 1. City of Renton 2. 3. 4. Additional names on page_of document. Legal description (abbreviated, i.e. lot, block, plat or section, township, range) That certain parcel of land known as the Right of Way formerly occupied by Seattle and Rainier Valley Railroad Company, which abuts Lot 7 in Block 1, of Smither's Sixth Addition to the Town of Renton, according to the plat thereof recorded in Volume 26 of Plats, page 47, in King County, Washington; being a strip of land 18 feet in width and 243.15 feet long. Additional legal is on page_of document. Assessor's Property Tax/Parcel/Account Number: 000720-0144-06 PrIED RECEIVED ''OLRT In King County Superlor Court Clerk's Office K; 1 2 MAY 2 C 1999 6 ,i-,DEPT. 3 �Aghiar�SeCtion KNT �OTON r B►1W Ott:Wt blbri r 4 5 SUPERIOR COURT OF WASHINGTON FOR KING COUNTY 6 THE CITY OF RENTON, 7 Petitioner, Case No. 98-2-11751-6 KNT 8 V. STIPULATED JUDGMENT AND DECREE OF APPROPRIATION AND 9 BIG 5 HOLDINGS, INC., a Delaware ORDER ALLOWING DISBURSEMENT corporation, OF FUNDS, WITH JUDGMENT 10 SUMMARY Petitioner. 11 (CLERK'S ACTION REQUIRED) 12 T xl 3 JUDGMENT SUIVINIARY Q4 5 1. Judgment Creditor: Big 5 Corp., successor to Big 5 Holdings, ,� 6 Inc. 2. Judgment Debtor: City of Renton 17 3. 18 Principal Judgment Amount: $46,000.00 4. Interest on Judgment Amount: Payment of the principal amount of this 19 judgment has predated entry of this judgment and the judgment shall therefore not bear 20 interest 21 5. Attorney for Judgment Creditor: James L. Phillips of Miller, Nash, Wiener, 22 Hager& Carlsen, LLP 6. Attorney for Judgment Debtor: Lawrence J. Warren of Warren, Barber Dean 23 & Fontes, P.S. 24 25 26 STIP. JDGMT&DECREE OF APPROPRIATION&ORDER ALLOWING DISB. OF FUNDS, W/JDGMT SUNMkRY- 1 SEADOCS:23124.1 MMLER,NASH,WIENER,HAGER&CARLSEN LLP ATTORNEYS AND COUNSELORSLAW TELEPHONE(206)62:•84844 4400 TWO UNION SQUARE C(DPY 601 UNION STREET.SEATTLE,WASHINGTON 98101-2332 • *ago, I ftw I STIPULATED JUDGMENT AND DECREE OF APPROPRIATION 2 THIS MATTER having come on regularly before the undersigned judge of the 3 above-entitled court, by stipulation of the parties as evidenced by their signatures hereto, the City 4 of Renton being represented by Lawrence J. Warren of Warren, Barber, Dean& Fontes, P.S., its 5 City Attorney, and Respondent Big 5 Corp., successor to Big 5 Holdings, Inc. being represented 6 by James L. Phillips of Miller, Nash, Wiener, Hager& Carlsen, LLP, and the parties, through the 7 undersigned counsel, having agreed that the just compensation for the real property sought to be 8 appropriated in this action is $46,000.00, 9 IT IS HEREBY ORDERED, ADJUDGED AND DECREED that the City of 10 Renton shall pay the sum of$46,000.00 into the Registry of the Court for the benefit of 11 Respondent Big 5 Corp., successor to Big 5 Holdings, Inc., as just compensation, and upon such 12 payment the Petitioner, the City of Renton, shall become the owner of the following property and 13 property rights, to-wit: 14 ALL OF THAT CERTAIN PARCEL OF LAND KNOWN AS THE RIGHT OF 15 WAY FORMERLY OCCUPIED BY SEATTLE AND RAINIER VALLEY RAILROAD COMPANY, WHICH ABUTS LOT 7 IN BLOCK 1 OF 16 SMITHERIS SIXTH ADDITION TO THE TOWN OF RENTON AS PER PLAT RECORDED IN VOLUME 26 OF PLATS ON PAGE 47, RECORDS OF KING 17 COUNTY, WASHINGTON; BEING A STRIP OF LAND 18 FEET WIDE AND 243.15 FEET LONG; SITUATED IN THE SOUTHEAST QUARTER OF 18 SECTION 18, TOWNSHIP 23 NORTH, RANGE 5 EAST, W.M. 19 IT IS FURTHER ORDERED that upon the payment of said $46,000.00 into the C Registry of the Court, the Clerk of this Court is hereby ordered to satisfy this judgment. r? 20 IT IS FURTHER ORDERED that the King County Superior Court Clerk shall 21 22 disburse from the proceeds paid into the Registry of the Court the sum of$46,000.00 to the Trust 23 Account of Miller, Nash, Wiener, Hager & Carlsen, LLP, 4400 Two Union Square, 601 Union 24 Street, Seattle, Washington 98101-2352, less the Clerk's handling costs; 25 AND IT IS FURTHER ORDERED pursuant to stipulation of the parties hereto 26 that as additional consideration for this acquisition, the parties have entered into a Settlement STIP. JDGMT&DECREE OF APPROPRIATION&ORDER ALLOWING DISB. OF FUNDS, W/JDGMT SUMMARY-2 SEADOCS:23124.1 MILLER,NASH,WIENER,HAGER&CARLSEN LLP ATTORNEYS AND COUNSELORS AT LAW TELEPHONE(206)622-8484 4400 TWO UNION SQUARE 601 UNION STREET,SEATTLE,WASHINGTON 98101-2352 I Agreement, a copy of which is attached hereto and incorporated by this reference as if fully set 2 forth herein. 3 DONE IN OPEN COURT this day of 1 , 1999. 4 5 6 S Q/ JUD /COURT CONMSSIONER 7 8 Presented by: WARREN BARBER DEAN&FONTES, 9 P.S. 10 11 B 001,QAL�� awrence J. Warr SB No. 5853 12 Attorneys for Petitioner City of Renton 13 Copy Received; Approved as to Form; 14 Notice of Presentation Waived: 15 MILLER, NASH, WIENER, HAGER & C SEN LLP 16 17 By.J es L. Phillips, WSB No. 13186 Attorneys for Respondent Big 5 Corp., C18 successor to Big 5 Holdings, Inc. W19 Y0 By: 0Peggy Pahl, WSB #19019 21 Senior Deputy Prosecuting Attorney 22 for King County 23 24 25 26 STIP. JDGMT&DECREE OF APPROPRIATION&ORDER ALLOWING DISB. OF FUNDS, W/JDGMT SUMMARY-3 SEADOCS:23124.1 MILLER,NASH,WIENER,HAGER&CARLSEN LLP ATTORNEYS AND COUNSELORS AT LAW TELEPHONE(206)622-8484 4400 TWO UNION SQUARE 601 UNION STREET,SEATTLE,WASHINGTON 98101-2352 vr.r James L. Phillips Miller,Nash, Wiener, Hager& Carlsen LLP 4400 Two Union Square 601 Union Street Seattle, Washington 98101-2352 SETTLEMENT AGREEMENT GRANTOR: BIG 5 CORP.. SUCCESSOR IN INTEREST TO BIG 5 HOLDINGS, INC. GRANTEE: CITY OF RENTON LEGAL DESC.: 18' STRIP ABUTTING LOT 7, SMITHER'S 6TH ADDITION TO TOWN OF RENTON. PLATS V. 26. P. 47 KING COUNTY. WASHINGTON. TAX PARCEL I.D.: 000720-0144-06 Cd3 WHEREAS, the City of Renton (City)has sought to condemn a strip of C Cpropertyowned by Big 5 Corp., successor in interest by merger to Big 5 Holdings, Inc. as more fully shown on Exhibit A attached for demonstrative purposes only, and legally described as follows ("Subject Parcel"): ALL OF THAT CERTAIN PARCEL OF LAND KNOWN AS THE RIGHT OF WAY FORMERLY OCCUPIED BY SEATTLE AND RAINIER VALLEY RAILROAD COMPANY, WHICH ABUTS LOT 7 IN BLOCK 1 OF SMITHER'S SIXTH ADDITION TO THE TOWN OF RENTON AS PER PLAT RECORDED IN VOLUME 26 OF PLATS ON PAGE 47, RECORDS OF KING COUNTY, WASHINGTON; BEING A STRIP OF LAND 18 FEET WIDE AND 243.15 FEET LONG; SITUATED IN THE SOUTHEAST QUARTER OF SECTION 18, TOWNSHIP 23 NORTH, RANGE 5 EAST, W.M. - 1 - 051799/SEADOCS:16926.3 Situated in the City of Renton, King County, Washington; and WHEREAS, the City has expressed a desire to immediately develop parking and vehicular access to that certain parking area along the City of Seattle Cedar River pipeline right-of-way adjacent to and to the south of the Subject Parcel, as more fully shown on Exhibit A attached for demonstrative purposes only("Pipeline Parcel"), for which the City has a lease agreement; and WHEREAS, in addition to the Subject Parcel, Big 5 is the owner of that certain developed parcel of real property adjacent to and south of the Pipeline Parcel, south of and separated from the Subject Parcel by the Pipeline Parcel, as more fully shown on Exhibit A attached for demonstrative purposes only, and including building and related improvements used by Big 5 for a retail sales outlet, legally described as follows ("Main Parcel"): LOTS 3, 4 AND 5 IN BLOCK 6 OF SMITHER'S SIXTH O ADDITION TO THE TOWN OF RENTON, AS PER PLAT RECORDED IN VOLUME 26 OF PLATS ON p PAGE 47, RECORDS OF KING COUNTY, C WASHINGTON Situated in the City of Renton, King County, Washington; and WHEREAS, the Pipeline Parcel immediately abuts the back(north) side of the building on the Main Parcel; and WHEREAS, the City has expressed a desire to have immediate use and possession of the Subject Parcel to include it in a project that is readying for construction, rather than having the Subject Parcel added at a later date; and - 2 - 051799/SEADOCS:16926.3 WHEREAS, cooperation is needed between the City and Big 5 to promote efficiencies in the City's construction project and, at the same time, eliminate untoward impacts to the present and any future business operating on the Main Parcel NOW, THEREFORE, the parties hereto do agree as follows: 1. The City will coordinate with Big 5 to permit deliveries with reasonable access to the rear or north side of the Big 5 building along the Pipeline Parcel before, during and after construction, allowing for the parking of Big 5 delivery trucks in Big 5's parking lot. The City will maintain a concrete sidewalk in the Pipeline Parcel abutting the Main Parcel wide enough to accommodate delivery of Big 5 product from Big 5's parking lot to the rear delivery entrance. The currently planned five foot wide sidewalk would be sufficient. 2. Big 5 desires a permanent driveway access from the Main Parcel to the Pipeline Parcel ("Curb Cut") and associated vehicle access to the parking area. Big 5 GO and the City have met at the site and discussed the Curb Cut and both sides have agreed it G� will be put in. Big 5 has spoken to the City of Seattle which indicated it has no objections to the Curb Cut. The City will further work with Big 5 to achieve a mutually satisfactory Curb Cut and driveway location. 3. Big 5 currently has an enclosure and incinerator on the north side of its building which encroaches on the Pipeline Parcel. The City has agreed to and shall remove the enclosure and the incinerator, and in such event Big 5 has agreed to and shall pay the reasonable costs of such removal, upon receipt of costs documentation and request by the City. - 3 - 051 799/SEADOCS:16926.3 - `rrr wry 4. Big 5 also currently has a fire escape which encroaches onto the Pipeline Parcel. Big 5 has agreed to and shall take down the fire escape and the City has agreed to permit Big 5 to build, establish and use a new fire escape structure which encroaches upon the Pipeline Parcel onto a portion of the sidewalk which shall provide permanent unobstructed access to the back of the building. The City agrees to work with Big 5, the City's Fire Department and the City's Building Department to ensure that the removal and replacement will not cause a violation of any applicable codes. Big 5 shall have no obligation to take down the existing fire escape until such issues are resolved to Big 5's satisfaction. 5. It is understood that permission has been obtained by Big 5 from the City of Seattle to go upon the pipeline parcel either through the Curb Cut or by means of a new fire escape structure. The parties acknowledge that if the City of Seattle objects, un (� the City of Renton has no control over the granting of permission by the City of Seattle to O O use of its pipeline right-of-way. The parties acknowledge the City of Seattle could C terminate access to the right-of-way and if that should occur, the City of Renton agrees to O assist Bi 5 its successors or assigns,gns, in efforts to obtain access. 6. The City shall work in good faith with Big 5 concerning all matters pertaining to the removal of the enclosure and incinerator and the removal and reconstruction of the fire escape, including but not limited to Fire Code and Building Code issues, and all matters pertaining to the timing of activities, the location of structures and the issuance of permits. 7. This Agreement is made and entered into as a portion of the consideration for an agreement as to public use and necessity and use and possession - 4 - 051799/SEADOCS:16926.3 err *owe, concerning the Subject Parcel, and may be referenced in any pleadings in that cause and incorporated by reference as if fully set forth. 8. As additional consideration for this Agreement as to the possession and use of the Subject Parcel, the City shall promptly pay Big 5 the sum of$45,955.35. 9. Big 5 may, at Big 5's sole election and expense, record this Agreement. 10. This Agreement shall be binding upon, and inure to the benefit of the successors and assigns of the parties. DATED THIS day of A, t:r4l , 1999. CITY OF RENTON ;X? By: Its: Mayor C ATTEST O G.0 By: Marilyn J. et n, City Clerk — 5 — 051799/SEADOCS:16926.3 STATE OF WASHINGTON ) ss. COUNTY OF KING ) THIS IS TO CERTIFY that on this��,day of , 1999, before me, the undersigned, a notary public in and for the state of Washington, duly commissioned and sworn, personally appeared J�55E ]nftwNER , to me known to be the 141q VIPK- of the City of Renton, a municipal corporation that executed the within and foregoing instrument and acknowledged the said instrument to be the free and voluntary act and deed of said City for the uses and purposes therein mentioned, and on oath stated that he was authorized to execute said instrument, and that the seal axed, if any, is the corporate seal of said City. IN WITNESS WHEREOF, I have hereunto set my hand and affixed my official seal the day and year firs t above written. PEr Q- ':5's'oiii O NOTARY w: Notary Pu i Washington N,';o PUBLIC 0 Z. . ......... "'.aSN� •�'� (Printed or Stamped Name of Notary) Residing at_)q�EVIV / C My appointment expires: /0— —v�ODd -6- 051799/SEADOCS:16926.3 BIG 5 CORP., successor by merger to BIG 5 HOLDINGS, INC. By: _ Its: S rand Geneo Jcounsel STATE OF CALIFORNIA ) COUNTY OF LOS 4✓7e j&S ) ss. THIS IS TO CERTIFY that on this 1 �Nday of V► �� , 1999, before me, the undersigned, a notary public in and for the state of California, duly trona(( commissioned and sworn, personally appeared (pa y S. YYi eccU , t& Snot�ln - @-tea"` ''b�'thg -cB1 G C-QRJ , that execute n e the within and foregoing instrument and acknowledged the said instrument to be the free and voluntary act and deed of said Company for the uses and purposes therein mentioned, and on oath stated that he/ske was authorized to execute said instrument, and that the seal affixed, if any, is the corporate seal of said Company. IN WITNESS WHEREOF, I have hereunto set my hand and affixed my official seal the day and year first above written. GD WANDA HUFF Z otary Public for Cal f Commission#1064411 Notary Public—CoO/omia Z Los Angeles Co �1999 my Comm.ExpiiZi (Printed or Stamped Name of Notary) Residing at My appointment expires: -7- 051799/SEADOCS:16926.3 C TY OF RENTON MAY 2 91999 PROPERTY ACQUISITION OR SALE CHECKLIST RECEIVED PERMANENT FILE DOCUMENTATION CITY CLERKS OFFICE FOR: CITY CLERK DIVISION DATE: May 26, 1999 STAFF NAME & EXTENSION NUMBER: Sue Carlson 4306591 City is buyer or seller? Bu Ter Number of acres or S.F. 18 Feet Right of Way If City is seller, list approx. date of original acquisition by City: Bia Five Parking Lot; East side of Norris Avenue South between Property address S.2nd Street and S.3rd Street, Penton, Washincton Nearest cross streets: Morris Avenue South and S.2nd Street Date of Council/Executive approval: Ordinance No. 4713 adopted March 23, 1998 Purpose of acquisition or sale: Traffic circulation, parking and pedestrian use Other file numbers, document names or key words for cross- referencing: K.C. Parcel I.D#(s) 0007200144-06 Documents to forward to City Clerk Divn. check off items- or mark N/A Document Original Copy X Purchase and Sale Agreement X Addendum to Purchase & Sale Agreement Owner's Title Policy Correspondence for Permanent File/Minutes Closing Statement Recorded Deed (orig. only) x_Other Stipulated Judgment. X Other DOCUMENTS MAY BE SUBMITTED TO CC OFFICE IN PHASES, AS NECESSARY. CHECKLIST ORIGINAL MUST BE COMPLETED AND SUBMITTED TO CC OFFICE BY COMPLETION OF TRANSACTION. ------------------------------------------------------------------------------------------------------------- For City Clerk Division Use: Add to file: Copy of Minutes, Ordinances, & Resolutions applicable Index cross references as necessary FILE NO. AC- D� Y AA-t2 �y ,_ CITY F RENTON .� Office of the City Attorney Jesse Tanner,Mayor Lawrence J.Warren MEMORANDUM To: Mayor Jesse Tanner Renton City Council From: Lawrence J. Warren, City Attorney Date: May 27, 1999 Subject: City of Renton—Big Five Acquisition It is my pleasant duty to inform you that we have consummated a settlement with Big Five Holdings, Inc. to acquire the sought after 18 ft. right-of-way north of the Seattle city pipeline right-of-way and up against the Dally Project. This will allow the city to expand its parking and trail system along the waterline right-of-way. There are two added benefits. We were able to acquire the property for its appraised price some time ago. We know from more recent appraisals that property has risen substantially in downtown Renton and the price would have been up to twice as high had we litigated this case. Acquiring this parcel also minimizes any damages that we might have growing out of the inability of Dally to access the pipeline right-of-way for ingress and egress to the garage. Resolving that issue required work by my office with Dally and the Seattle Public Utilities as well as Big Five. However, the majority of that work was done under time pressure and some political friction by Jay Covington and Sue Carlson. While that process was somewhat difficult and tense, the results were excellent. In settling with Big Five I received excellent assistance from Chuck Duffy, the Fire Marshal, Lin Wilson from Transportation, and Larry Mecking, the Building Official. These people all met with Big Five on site and helped resolve a number of troubling issues that resulted in the ultimate settlement of this case. I know this condemnation took longer than originally planned. However, it was accomplished in time to minimize any damages to the Dally Project and at a minimal budget for attorney's fees. The delay in time may have actually resulted in a net gain for the City as property has appreciated so quickly in the area. Post Office Box 626 - 100 S. 2nd Street - Renton, Washington 98057 - (425)255-8678 This oaoer contains Sn%racvcled material.20%post consumer Mayor Jesse Tanner Renton City Council 05/27/99 Page 2 If there are any follow-up questions please let me know. awrence J. en LJW:as. cc: Jay Covington Sue Carlson Lee Wheeler Chuck Duffy Gregg Zimmerman Larry Meckling Lin Wilson Jim Shepherd Glenn Kost Marilyn J. Petersen A8:160.17. RECEIVE I in King CoUnty CupeFlor Court Clerk's Office T` DEPT KELP ON 2 MAY 2 6 1999 3 Wmler 540911 TENT 48114f 9�NfE Clerk 5 SUPERIOR COURT OF WASHINGTON FOR KING COUNTY 6 THE CITY OF RENTON, 7 Petitioner, Case No. 98-2-11751-6 KNT 8 V. STIPULATED JUDGMENT AND DECREE OF APPROPRIATION AND 9 BIG 5 HOLDINGS, INC., a Delaware ORDER ALLOWING DISBURSEMENT corporation, OF FUNDS, WITH JUDGMENT 10 SUMMARY Petitioner. 11 (CLERK'S ACTION REQUIRED) 12 13 JUDGMENT S U-NT L IARY 14 15 1. Judgment Creditor: Big 5 Corp., successor to Big 5 Holdings, 16 Inc. 2. Judgment Debtor: City of Renton 17 3. Principal Judgment Amount: $46,000.00 18 4. Interest on Judgment Amount: Payment of the principal amount of this 19 judgment has predated entry of this judgment �0 and the judgment shall therefore not bear interest 21 5. Attorney for Judgment Creditor: James L. Phillips of Miller, Nash, Wiener, 22 Hager& Carlsen, LLP 6. Attorney for Judgment Debtor: Lawrence J. Warren of Warren, Barber Dean 23 & Fontes, P.S. 24 25 26 STIP. JDGiT&DECREE OF APPROPRIATION&ORDER ALLOWING DISB. OF FUNDS, W/JDGIT SUNDAARY- 1 SE aDOCS:23124.1 C(O PY IvaLER,NASH,WIENER,HAGER&CARLSEN LLP ATTORNEYS AND COUNSELORS AT LAW TELEPHONE(206)5:2.8484 4400 TWO UNION SQUARE 601 UNION STREET,SEATTLE,WASHINGTON 98101-2352 I STIPULATED JUDGMENT AND DECREE OF APPROPRIATION 2 THIS MATTER having come on regularly before the undersigned judge of the 3 above-entitled court, by stipulation of the parties as evidenced by their signatures hereto, the City 4 of Renton being represented by Lawrence J. Warren of Warren, Barber, Dean& Fontes, P.S., its 5 City Attorney, and Respondent Big 5 Corp., successor to Big 5 Holdings, Inc. being represented 6 by James L. Phillips of Miller, Nash, Wiener, Hager& Carlsen, LLP, and the parties, through the 7 undersigned counsel, having agreed that the just compensation for the real property sought to be 8 appropriated in this action is $46,000.00, 9 IT IS HEREBY ORDERED, ADJUDGED AND DECREED that the City of 10 Renton shall pay the sum of$46,000.00 into the Registry of the Court for the benefit of 11 Respondent Big 5 Corp., successor to Bic, 5 Holdings, Inc., as just compensation, and upon such 12 payment the Petitioner, the City of Renton, shall become the owner of the following property and 13 property rights, to-wit- 14 ALL OF THAT CERTAIN PARCEL OF LAND KNOWN AS THE RIGHT OF WAY FORMERLY OCCUPIED BY SEATTLE AND RAINIER VALLEY 1 RAILROAD COMPANY, WHICH ABUTS LOT 7 IN BLOCK 1 OF 16 SMITHER'S SIXTH ADDITION TO THE TOWN OF RENTON AS PER PLAT RECORDED N VOLUME 26 OF PLATS ON PAGE 47, RECORDS OF KING 17 COUNTY, WASHINGTON; BEING A STRIP OF LAND 18 FEET WIDE A2'D 243.15 FEET LONG; SITUATED N THE SOUTHEAST QUARTER OF 18 SECTION 18, TOWNSHIP 23 NORTH, RANGE 5 EAST, W.M. 19 IT IS FURTHER ORDERED that upon the payment of said $46,000.00 into the Registry of the Court, the Clerk of this Court is hereby ordered to satisfy this judgment . 20 IT IS FURTHER ORDERED that the King County Superior Court Clerk shall 21 22 disburse from the proceeds paid into the Registry of the Court the sum of$46,000.00 to the Trust Account of Miller, Nash, Wiener, Hager & Carlsen, LLP, 4400 Two Union Square, 601 Union 23 Street, Seattle, Washington 98101-2352, less the Clerk's handling costs; 24 25 AND IT IS FURTHER ORDERED pursuant to stipulation of the parties hereto 26 that as additional consideration for this acquisition, the parties have entered into a Settlement STIP- JDGNIT&DECREE OF APPROPRIATION&ORDER ALLOWINNG DISB. OF FUNDS, W/JDGMT SUNDAARY-2 SEADOCS:23124.1 MILLER,NASH,WIENTER,HAGER&CARLSEN UP ATTORNEYS AND COUNSELORS AT LAW TELEPHONE(106)5:1-848+ 4400 TWO UN10N SQU.\RE 601 4-NI0'.Y STREET,SEATTLE.WASHtiGTON 98101-13:1 I Agreement, a copy of which is attached hereto and incorporated by this reference as if fully set 2 forth herein. 3 DONE IN OPEN COURT this day of , 1999. 4 5 , 6 01� /1 aI JUIJGE/ OURT CONMSSIONER 7 8 Presented by.- WARREN BARBER DEAN& FONTES, 9 P.S. 10 r Q�Urr—L�. 11 B awrence J. Warr SB No. 5853 12 Attorneys for Petitioner City of Renton 13 Copy Received; Approved as to Form; 14 Notice of Presentation Waived: 15 NULLER, NASH, WIENER, HAGER& C SEN LLP 16 17 By. J es L. Phillips, WSB No. 13136 18 Attorneys for Respondent Big 5 Corp., successor to Big 5 Holdings, Inc. 19 20 By: 21 Peggy Pahl, WSB 919019 Senior Deputy Prosecuting Attorney 22 for King County 23 24 25 26 STIP. JDGM'r&DECREE OF APPROPRIATION&ORDER ALLOWING DISB. OF FUNDS, W/JDGNfT SUIQvLARY-3 SEAD0CS:23124.1 MILLER,NASH,WIENER,HAGER&CARLSEN LLP ATTORNEYS AND COUNSELORS AT LAW TELEPHONE(206)6L'-8434 4400 TWO UNCON SQC.IRE 601 UNION STREET.SEATTLE,WASHINGTON 98101-7352 James L. Phillips Miller, Nash, Wiener, Hager& Carlsen LLP 4400 Two Union Square 601 Union Street Seattle, Washington 98101-2352 SETTLEMENT AGREEMENT . GRANTOR: BIG_5 CORP.. SUCCESSOR N INTEREST TO BIG 5 HOLDINGS. INC. GRANTEE: CITY OF RENTON LEGAL DESC.: 18' STRIP ABUTTING LOT 7 SMITHER'S 6TH ADDITION TO TOWN OF RENTON, PLATS V. 26, P. 47 KING COUNTY. WASHINGTON. TAX PARCEL I.D.: 000720-0144-06 WHEREAS, the City of Renton (City)has sought to condemn a strip of property owned by Big 5 Corp., successor in interest by merger to Big 5 Holdings, Inc., as more fully shown on Exhibit A attached for demonstrative purposes only, and legally described as follows ("Subject Parcel"): ALL OF THAT CERTAIN PARCEL OF LAND KNOWN AS THE RIGHT OF WAY FORMERLY OCCUPIED BY SEATTLE AND RAINIER VALLEY RAILROAD COMPANY, WHICH ABUTS LOT 7 N BLOCK 1 OF SMITHER'S SIXTH ADDITION TO THE TOWN OF RENTON AS PER PLAT RECORDED N VOLUME 26 OF PLATS ON PAGE 47, RECORDS OF KING COUNTY, WASHINGTON; BEING A STRIP OF LAND 18 FEET WIDE AND 243.15 FEET LONG; SITUATED N THE SOUTHEAST QUARTER OF SECTION 18, TOWNSHIP 23 NORTH, RANGE 5 EAST, W.M. - I - 051799/SEADOCS:16926.3 Situated in the City of Renton,King County, Washington; and WHEREAS, the City has expressed a desire to immediately develop parking and vehicular access to that certain parking area along the City of Seattle Cedar River pipeline right-of-way adjacent to and to the south of the Subject Parcel, as more fully shown on Exhibit A attached for demonstrative purposes only("Pipeline Parcel"), for which the City has a lease agreement; and WHEREAS, in addition to the Subject Parcel, Big 5 is the owner of that certain developed parcel of real property adjacent to and south of the Pipeline Parcel, south of and separated from the Subject Parcel by the Pipeline Parcel, as more fully shown on Exhibit A attached for demonstrative purposes only, and including building and related improvements used by Big 5 for a retail sales outlet, legally described as follows ("Main Parcel"): LOTS 3, 4 AND 5 IN BLOCK 6 OF SMITHER'S SIXTH ADDITION TO THE TOWN OF RENTON, AS PER PLAT RECORDED IN VOLUME 26 OF PLATS ON PAGE 47, RECORDS OF KING COUNTY, WASHINGTON Situated in the City of Renton, King County, Washington; and WHEREAS, the Pipeline Parcel immediately abuts the back(north) side of the building on the Main Parcel; and WHEREAS, the City has expressed a desire to have immediate use and possession of the Subject Parcel to include it in a project that is readying for construction, rather than having the Subject Parcel added at a later date; and - 2 - 051799/SEADOCS:16926.3 NOW WHEREAS, cooperation is needed between the City and Big 5 to promote efficiencies in the City's construction project and, at the same time, eliminate untoward impacts to the present and any future business operating on the Main Parcel NOW,THEREFORE, the parties hereto do agree as follows: 1. The City will coordinate with Big 5 to permit deliveries with reasonable access to the rear or north side of the Big 5 building along the Pipeline Parcel before, during and after construction, allowing for the parking of Big 5 delivery trucks in Big 5's parking lot. The City will maintain a concrete sidewalk in the Pipeline Parcel abutting the Main Parcel wide enough to accommodate delivery of Big 5 product from Big 5's parking lot to the rear delivery entrance. The currently planned five foot wide sidewalk would be sufficient. 2. Big 5 desires a permanent driveway access from the Main Parcel to the Pipeline Parcel ("Curb Cut") and associated vehicle access to the parking area. Big 5 and the City have met at the site and discussed the Curb Cut and both sides have agreed it will be put in. Big 5 has spoken to the City of Seattle which indicated it has no objections to the Curb Cut. The City will further work with Big 5 to achieve a mutually satisfactory Curb Cut and driveway location. 3. Big 5 currently has an enclosure and incinerator on the north side of its building which encroaches on the Pipeline Parcel. The City has agreed to and shall remove the enclosure and the incinerator, and in such event Big 5 has agreed to and shall pay the reasonable costs of such removal, upon receipt of costs documentation and request by the City. - 3 - 051799/SEADOCS:16926.3 4. Big 5 also currently has a fire escape which encroaches onto the Pipeline Parcel. Big 5 has agreed to and shall take down the fire escape and the City has agreed to permit Big 5 to build, establish and use a new fire escape structure which encroaches upon the Pipeline Parcel onto a portion of the sidewalk which shall provide permanent unobstructed access to the back of the building. The City agrees to work with Big 5, the City's Fire Department and the City's Building Department to ensure that the removal and replacement will not cause a violation of any applicable codes. Big 5 shall have no obligation to take down the existing fire escape until such issues are resolved to Big 5's satisfaction. 5. It is understood that permission has been obtained by Big 5 from the City of Seattle to go upon the pipeline parcel either through the Curb Cut or by means of a new fire escape structure. The parties acknowledge that if the City of Seattle objects, the City of Renton has no control over the granting of permission by the City of Seattle to use of its pipeline right-of-way. The parties acknowledge the City of Seattle could terminate access to the right-of-way and if that should occur, the City of Renton agrees to assist Big 5, its successors or assigns, in efforts to obtain access. 6. The City shall work in good faith with Big 5 concerning all matters pertaining to the removal of the enclosure and incinerator and the removal and reconstruction of the fire escape, including but not limited to Fire Code and Building Code issues, and all matters pertaining to the timing of activities,the location of structures and the issuance of permits. 7. This Agreement is made and entered into as a portion of the consideration for an agreement as to public use and necessity and use and possession - 4 - 051799/SEADOCS:16926.3 14W `Vr concerning the Subject Parcel, and may be referenced in any pleadings in that cause and incorporated by reference as if fully set forth. 8. As additional consideration for this Agreement as to the possession and use of the Subject Parcel, the City shall promptly pay Big 5 the sum of$45,955.35. 9. Big 5 may, at Big 5's sole election and expense,record this Agreement. 10. This Agreement shall be binding upon, and inure to the benefit of the successors and assigns of the parties. DATED THIS as ,day of `AYzi'4, ' 1999. CITY OF RENTON By:9- --- Its: Mayor ATTEST By: Marilyn J. et n, City Clerk - 5 - 051799/SEADOCS:16926.3 STATE OF WASHINGTON ) ss. COUNTY OF KING ) THIS IS TO CERTIFY that on this off ,day of 1999,before me, the undersigned, a notary public in and for the state of Washington, duly commissioned and sworn,personally appeared TE55E Tit�vNE,� , to me known to be the 144 vvx_ of the City of Renton, a municipal corporation that executed the within and foregoing instrument and acknowledged the said instrument to be the free and voluntary act and deed of said City for the uses and purposes therein mentioned, and on oath stated that he was authorized to execute said instrument, and that the seal affixed, if any, is the corporate seal of said City. IN WITNESS WHEREOF, I have hereunto set my hand and affixed my official seal the day and year firs t above written. ••111111#800 'SS10 ;U NOTARY Notary Pu i Washington N p PUBLIC c i t • R 8•z� C� •' M Ig-le J. PETS !✓ ":.aSN�•o•• (Printed or Stamped Name of Notary) Residing at RE A17-DA/ My appointment expires: /0— f—d MC) -6- 051799/SEADOCS:16926.3 NOW BIG 5 CORP., successor by merger to BIG 5 HOLDINGS, INC. By: Its: S rand Gen r Jcounsei STATE OF CALIFORNIA ) ss. COUNTY OF /-0,5 4y1 e l eS ) THIS IS TO CERTIFY that on this j6ay of v Y k , 1999,before me, the undersigned, a notary public in and for the state of California, duly commissioned and sworn,personally appeared_&�-y S. YYI eccL1L , to y Me 1;1A;*-p-to be thg -�a_5 that execute Know n�-p m e� the within and foregoing instrument and acknowledged the said instrument to be the free and voluntary act and deed of said Company for the uses and purposes therein mentioned, and on oath stated that he/ske was authorized to execute said instrument, and that the seal affixed, if any, is the corporate seal of said Company. IN WITNESS WHEREOF,I have hereunto set my hand and affixed my official seal the day and year first above written. WANDA HUFF Z otary Public for Cal f Commission#1064411 Notary tom Public—CaUia Los Angeles County My Comm.Expires Ju!9.1999 (Printed or Stamped Name of Notary) Residing at My appointment expires: -7- 051799/SEADOCS:16926.3 April 12, 1999 "r✓ Renton City Council Minutes Page 122 There being no further audience comment, it was MOVED BY PARKER, SECONDED BY EDWARDS, COUNCIL CLOSE THE PUBLIC HEARING. CARRIED. Ms. Lind noted that this item is currently in the Planning&Development Committee where it will remain pending continued deliberations and a recommendation to the full Council. ADMINISTRATIVE Chief Administrative Officer Jay Covington reviewed a written administrative REPORT report summarizing the City's recent progress towards goals and work programs adopted as part of its business plan for 1999 and beyond. Items noted included: New to the City's website is a comprehensive guide to Renton's park system with a directory linking to many of the parks, describing amenities, giving driving directions and providing picnic shelter reservation information. The Renton Community Center will celebrate its 10th anniversary on April 14th with food, entertainment and demonstrations. All of the paving and sidewalk construction has been completed on Logan Ave. between S. 2nd and 3rd Streets, and the street trees will soon be planted. The street should be open to traffic by Friday, April 15th. AUDIENCE COMMENT Herb Postlewait, 3805 Park Ave. N.,Renton, 98056,urged the City to fully Citizen Comment: Postlewait support Piazza Renton, the volunteer organization which has been working for —Piazza Renton,Request for a number of years to improve the image and economic climate of downtown Support Renton by promoting the creation of a downtown piazza, or meeting place. Mr. ���. Postlewait said while this organization has spent many hours and hundreds of -�1�K donated dollars in this endeavor, it needs the City to provide full financial backing,personal involvement,and proactive boosterism. MOVED BY PARKER, SECONDED BY CORMAN, COUNCIL REFER THIS MATTER TO THE COMMUNITY SERVICES COMMITTEE. CARRIED. CONSENT AGENDA Items on the consent agenda are adopted by one motion which follows the listing. Comprehensive Plan: 1999 Economic Development,Neighborhoods& Strategic Planning Department Amendments&Change in submitted proposed 1999 Comprehensive Plan amendments (five map Review Process amendments and two text amendments), along with a recommendation to revise the Comprehensive Plan review process to create a preliminary review process and new filing deadlines. Refer to Planning; &Development Committee. Fire: Marine Rescue Fire Department recommended approval of an interlocal agreement with the Agreement, King County King County Police Marine Patrol Division concerning the use of marine Marine Patrol Division rescue equipment and personnel. Refer to Public Safety Committee. Fire: Confined Space&Dive Fire Department recommended approval of an interlocal agreement with the Team Rescue Services, City of City of Bellevue to provide mutual aid for confined space and emergency dive Bellevue team rescue services. Refer to Public Safety Committee. Fire: Puget Sound Urban Fire Department recommended approval of an interlocal agreement with Pierce Search&Rescue Task Force County and the Puget Sound Urban Search and Rescue Task Force relating to (Renton Participation) the City of Renton's participation in the Task Force. Refer to Public Safety Committee. J NOV Piazza Renton Mr. Mayor, council members, As a Renton resident and one who is interested in the revitalization of downtown Renton, and the betterment of the entire city, I am asking you to fully support Piazza Renton. This all volunteer organization has spent many hours and hundreds of donated dollars in a concerted effort to improve not only the image of downtown Renton, but the economic climate as well. However, this has proven to be a daunting task, and one that cannot be done without the full support of the city administration and council. Thank you for your support up to now. There are many benefits to be realized by creating a downtown Piazza, or meeting place. People could gather informally to enjoy a warm summer evening, discussing various issues over a cup of coffee. There could be live entertainment,a venue for local performers to get some exposure. Artists could use the Piazza to exhibit their talents. It would be a great place for youngsters to pursue almost any endeavor. The craft folks could have a place to sell their creations. Flower shows, car shows, dances,the possibilities are almost unlimited. During inclement weather,the indoor facility would serve the same functions. Some retail outlets are needed in the Piazza also. A piazza would generate more pedestrian traffic downtown, and as the activity level increased,that would increase the awareness of what is already there. As people realized the value and potential of Piazza Renton, a sense of place would be created. Once the positive attributes of the Piazza are recognized and built upon,the idea would snowball. Many people go"mall walking". Wouldn't it be great to redirect these folks to downtown Renton? Kent has a Saturday market. Levenworth has a Mayfest, an Octoberfest and Christmas tree lighting,events that draw thousands of people from all over the state. Renton has a lot going for it, several great parks, (one of which has received national recognition), and the river and lake as well. A Piazza would add to Renton's community identity and pride, as well as provide a downtown focal point. Lets bring it all together. Lets make Renton an even more desirable place to live, to shop and to play. A Piazza would be a big step in the right direction. Piazza Renton needs your support, in every way: as sponsors,by full financial backing; as participants, by being personally involved-taking part in the activities; and as boosters, being proactive advocates. Thank you. Herb Postlewait 3805 Park Ave. N. 425-228-2209 t .� Piazza Renton Mr. Mayor, council members, As a Renton resident and one who is interested in the revitalization of downtown Renton, and the betterment of the entire city, I am asking you to fully support Piazza Renton. This all volunteer organization has spent many hours and hundreds of donated dollars in a concerted effort to improve not only the image of downtown Renton, but the economic climate as well. However,this has proven to be a daunting task, and one that cannot be done without the full support of the city administration and council. Thank you for your support up to now. There are many benefits to be realized by creating a downtown Piazza, or meeting place. People could gather informally to enjoy a warm summer evening, discussing various issues over a cup of coffee. There could be live entertainment,a venue for local performers to get some exposure. Artists could use the Piazza to exhibit their talents. It would be a great place for youngsters to pursue almost any endeavor. The craft folks could have a place to sell their creations. Flower shows, car shows, dances,the possibilities are almost unlimited. During inclement weather,the indoor facility would serve the same functions. Some retail outlets are needed in the Piazza also. A piazza would generate more pedestrian traffic downtown,and as the activity level increased,that would increase the awareness of what is already there. As people realized the value and potential of Piazza Renton, a sense of place would be created. Once the positive attributes of the Piazza are recognized and built upon,the idea would snowball. Many people go"mall walking". Wouldn't it be great to redirect these folks to downtown Renton? Kent has a Saturday market. Levenworth has a Mayfest, an Octoberfest and Christmas tree lighting,events that draw thousands of people from all over the state. Renton has a lot going for it, several great parks, (one of which has received national recognition), and the river and lake as well. A Piazza would add to Renton's community identity and pride, as well as provide a downtown focal point. Lets bring it all together. Lets make Renton an even more desirable place to live, to shop and to play. A Piazza would be a big step in the right direction. Piazza Renton needs your support, in every way: as sponsors,by full financial backing; as participants, by being personally involved-taking part in the activities; and as boosters, being proactive advocates. Thank you. Herb Postlewait 3805 Park Ave. N. 425-228-2209 ` 4 Piazza Renton Mr. Mayor,council members, As a Renton resident and one who is interested in the revitalization of downtown Renton, and the betterment of the entire city, I am asking you to-fully support Piazza Renton. This all volunteer organization has spent many hours and hundreds of donated dollars in a concerted effort to improve not only the image of downtown Renton, but the economic climate as well. However,this has proven to be a daunting task, and one that cannot be done without the full support of the city administration and council. Thank you for your support up to now. There are many benefits to be realized by creating a downtown Piazza, or meeting place. People could gather informally to enjoy a warm summer evening,discussing various issues over a cup of coffee. There could be live entertainment,a venue for local performers to get some exposure. Artists could use the Piazza to exhibit their talents. It would be a great place for youngsters to pursue almost any endeavor. The craft folks could have a place to sell their creations. Flower shows, car shows, dances,the possibilities are almost unlimited. During inclement weather,the indoor facility would serve the same functions. Some retail outlets are needed in the Piazza also. A piazza would generate more pedestrian traffic downtown, and as the activity level increased,that would increase the awareness of what is already there. As people realized the value and potential of Piazza Renton, a sense of place would be created. Once the positive attributes of the Piazza are recognized and built upon,the idea would snowball. Many people go"mall walking". Wouldn't it be great to redirect these folks to downtown Renton? Kent has a Saturday market. Levenworth has a Mayfest,an Octoberfest and Christmas tree lighting,events that draw thousands of people from all over the state. Renton has a lot going for it, several great parks, (one of which has received national recognition), and the river and lake as well. A Piazza would add to Renton's community identity and pride, as well as provide a downtown focal point. Lets bring it all together. Lets make Renton an even more desirable place to live, to shop and to play. A Piazza would be a big step in the right direction. Piazza Renton needs your support, in every way: as sponsors,by full financial backing; as participants, by being personally involved-taking part in the activities; and as boosters, being proactive advocates. Thank you. Herb Postlewait 3805 Park Ave. N. 425-228-2209 �it' ; *41W CIT;; OF RENTON City Clerk Jesse Tanner,Mayor Marilyn J.Petersen April 14, 1999 Mr. Herb Postlewait 3805 Park Avenue N. Renton, WA 98056 Re: Support for Piazza Renton Dear Mr. Postlewait: At the regular Council meeting of April 14, 1999,the Renton City Council referred your letter regarding Piazza Renton to the Community Services Committee for discussion. When this matter is scheduled on the committee agenda, you will be notified by the Council secretary of the time and date of the meeting. If I can provide additional information or assistance, please feel free to call. Sincerely, Marilyn . P t rsen City Clerk/ able Manager cc: Mayor Jesse Tanner Council President King Parker Jim Shepherd, Administrator 1055 South Grady Way - Renton, Washington 98055 - (425)430-6510 / FAX(425)430-6516 0 This paper contains 50%recycled material,20%post consumer n Z e � •• ;,'c-:•.' it � t�!ii� 'bre. ��/�/ � l�d •` • Ir :� "3" •,tom A'�.t lit lkn> for•I `e.t�ia��Y� Via•. �,j, r �` � - ��, j it��,✓ld�rr�iyk4N IA �'++.QQ•• � i � ea � I���=�r\ e_."'t �• `� ILII ,}' A• � , .y Z' CITYrwF RENTON COUNCIL AGENDA BL AI#: SUBMITTING DATA: FOR AGENDA OF: January 26, 1998 Dept/Div/Board..... Comm. Srvcs./Parks Admin. Staff Contact........ Glenn Kost X-5522 AGENDA STATUS: Consent................................. X SUBJECT: Public Hearing....................... Professional Services Contract for Correspondence.................... Downtown Park Master Plan Ordinance.............................. Resolution............................. Old Business......................... New Business........................ EXHIBITS: Study Session....................... Proposal for Landscape Architectural Information............................ Services dated 1/14/98 Other..................................... — Diagram of Planning Area RECOMMENDED ACTION: Approvals Council Concur Legal Dept.................. pending Finance Dept.............. N/A Other.......................... Risk Mgmt. pending FISCAL IMPACT: Expenditure Required............. $55,580.00 Transfer/Amendment........ N/A Amount Budgeted................... $70,000.00 Revenue Generated......... N/A SUMMARY OF ACTION: Part of the Downtown Redevelopment effort includes funding for the development of a Master Plan for the Downtown Park, or Piazza. The scope of work includes Master Planning and design development drawings for the Piazza, Gateway property, pipeline right-of-way parking lot, and the Logan Avenue streetscape between 2nd and 3rd. Six consulting firms submitted proposals in response to a Request for Proposal sent out November 12. A City review team of Sue Carlson (Economic Development), Don Erickson (Long Range Planning), Shawna Mulhall (Transportation Planning) and Glenn Kost (Parks Admin.) screened the proposals and selected three firms to interview. Interviews were conducted on December 15, with the Berger Partnership emerging as the unanimous choice to complete the project. A contract has been prepared, and the staff requests that City Council concur with the attached Contract for Landscape Architectural Services with the Berger Partnership, and authorize the Mayor and City Clerk to sign the contract. rev. 1/26/98 98-010MB.DOC L � January 26, 1998 Renton City Council Minutes Page 31 Court Case: 98-003, Court Case filed by Stephen J. Crane, 701 Fifth Ave., Seattle, on behalf of Performance Mtg v Performance Mortgage, Inc., regarding the plaintiffs attempt to develop a Renton 1.89 acre parcel at 570 Bronson Pl. NE into a seven-lot short plat and the need for access via City-owned property. Refer to City Attorney and Insurance Services. Court Case: 98-004, Court Case filed by Michael T. Watkins, 2025 First Ave., Seattle, representing Summit Park Homeowners Summit Park Homeowners' Association, claiming damages in the amount of Association v Renton $6,952 to personal property incurred 3/27/96 when a sewer backup occurred. Refer to City Attorney and Insurance Services. Development Services: NE Development Services Division submitted request from George Feighner and 4th St Removal of Dennis Dochnahl for removal of restrictive covenants imposed in 1985 on Restrictive Covenants, properties located on the south side of NE 4th St., east of Union Ave. NE, as Feighner/Dochnahl the covenants are no longer necessary. Refer to Planning & Development Committee. Finance: Authorized Finance and Information Services Department requested approval of resolution Banking Signatures authorizing signatures for depositories and electronic fund transfers on behalf of and in the name of the City of Renton. Council concur. (See page 33 for resolution.) Police: Evidence Items Police Department requested approval of items taken as evidence and Converted to City Use subsequently converted to City use. Council concur. CAG: 97-061, Oakesdale Transportation Systems Division recommended approval of Supplemental Ave SW Extension Agreement No. 2 to CAG-97-061, contract with Kato & Warren, Inc., for the Construction Mgmt Oakesdale Ave. SW project, for $327,491 in construction management services. Services, Kato & Warren Council concur. Added Items City Clerk reports bid opening on 1/15/98 for CAG-98-001, Oakesdale Ave. CAG: 98-001, Oakesdale SW Extension; ten bids; engineer's estimate $4,034,137.54; and submits staff Ave SW Extension, recommendation to award the contract to the low bidder, Scarsella Brothers, Scarsella Bros Inc., in the total amount of $3,718,436.38. Council concur. CAG: 98-002, New City City Clerk reports bid opening on 1/21/98 for CAG-98-002, Tenant Hall Tenant Improvements for the new Renton Municipal Building; 14 bids; engineer's Improvements, Arango estimate $2,765,054; and submits staff recommendation to award the contract Const to the lowest responsive bidder, Arango Construction, in the total amount of $2,918,442. Council concur. MOVED BY EDWARDS, SECONDED BY , COUNCIL APPROVE THE CONSENT AGENDA AS AMENDED TO INCLUDE ADDED ITEMS 9.1. AND 9.m., AND TO REMOVE ITEM 9.d. FOR SEPARATE CONSIDERATION. CARRIED. Separate Consideration Community Services Department recommended approval of a contract in the Item 9.d. amount of $55,580 with Berger Partnership for landscape architectural services CAG: 98-, Downtown for the Downtown Park (Piazza) and Streetscape Master Plan. Piazza and Streetscape Master Plan Landscape Councilmember Keolker-Wheeler asked whether the proposed scope of work Architectural Services, for this contract has been reviewed by a Council committee. She also wanted Berger Partnerhsip assurance that citizens would be involved in the design for this project. Chief Administrative Officer Covington confirmed that at least seven citizens, representing both Citizens for Piazza Renton and the downtown business area, serve on the design committee. Staff and the committee will monitor the work by the contractor, and the proposed design will be brought to Council January 26 1998 Ren n it un it Minutes Pae 32 for its approval. Mr. Covington offered to forward minutes of the committee meetings to Council for its information. MOVED BY KEOLKER-WHEELER, SECONDED BY PARKER, COUNCIL APPROVE THE CONTRACT WITH BERGER PARTNERSHIP AS PRESENTED. CARRIED. CORRESPONDENCE Correspondence was read from Richard L. Kirk, Chairman, Washington State Citizen Comment: Kirk - World War II Memorial Fundraising Campaign, PO Box 41150, Olympia, World War II Memorial 98504, requesting a $5,000 contribution to support the memorial. MOVED BY Contribution Request PARKER, SECONDED BY NELSON, COUNCIL REFER THIS CORRESPONDENCE TO THE COMMUNITY SERVICES COMMITTEE. CARRIED. OLD BUSINESS Community Services Committee Chair Nelson presented a report Community Services recommending concurrence in the recommendation of staff and the Park Committee Board to allow a limited hydroplane race at Gene Coulon Memorial Beach Parks: Hydroplane Race at Park on April 25 and 26, 1998. The authorization is contingent on receiving Gene Coulon Park approval from and coordination with the City of Renton Human Resources and Risk Management Department, Police Department, Fire Department, Coast Guard and the American Power Boat Association and any other agencies or departments as required. MOVED BY NELSON, SECONDED BY CLAWSON, COUNCIL CONCUR IN THE COMMITTEE REPORT AS READ. CARRIED. Plannine & Development Planning & Development Committee Chair Keolker-Wheeler presented a Committee report recommending concurrence with the staff recommendation to approve Development Services: park trailers and recreational vehicles as types of temporary dwellings Temporary Dwellings for permitted in residential zones for cases of medical hardship. The City Council Medical Hardships adopted an ordinance in December, 1995 allowing manufactured homes to be permitted as a temporary dwelling if an applicant demonstrates it as necessary to provide for daily care in the case of a medical hardship. The Committee recommended expanding this provision to allow park trailers and recreational vehicles to be included as types of temporary dwellings permitted for demonstrated cases of medical hardship. The Committee further recommended that the ordinance regarding this matter be presented for first reading. MOVED BY KEOLKER-WHEELER, SECONDED BY SCHLITZER, COUNCIL CONCUR IN THE COMMITTEE REPORT. CARRIED. (See page 34 for ordinance.) Development Services: Planning & Development Committee Chair Keolker-Wheeler presented a Construction Mitigation report regarding proposed amendments to the Renton Municipal Code which Measures (Formerly would codify construction mitigation measures regularly imposed through the SEPA) State Environmental Policy Act (SEPA). The Committee concurred with the staff recommendation to codify typically-imposed SEPA mitigation measures. The Committee further recommended that the ordinance regarding this matter be presented for first reading. MOVED BY KEOLKER-WHEELER, SECONDED BY SCHLITZER, COUNCIL CONCUR IN THE COMMITTEE REPORT. CARRIED. (See page 33 for ordinance.) Development Services: Planning & Development Committee Chair Keolker-Wheeler presented a Sign Code Amendments report regarding two proposed amendments to the Sign Code that would 1) (Electronic Msg Boards, allow larger freestanding signs for auto dealerships located in the Automall Automall Signage) area, and 2) allow for electronic message board signs in commercial and industrial zones. The Sign Code amendment to allow larger freestanding signs for auto dealerships located in the Automall is intended as an incentive for dealerships to locate to the Automall. It would essentially increase the maximum allowable size of freestanding signs by 50 square feet for these CIT*..oJF RENTON COUNCIL AGENDA w4LL AI#: q .cL. SUBMITTING DATA: FOR AGENDA OF: January 23, 1998 Dept/Div/Board..... Comm. Srvcs./Parks Admin. Staff Contact........ Glenn Kost X-5522 AGENDA STATUS: Consent................................. X SUBJECT: Public Hearing....................... Professional Services Contract for Correspondence.................... Downtown Park Master Plan Ordinance.............................. Resolution............................. Old Business......................... New Business........................ EXHIBITS: Study Session....................... — Proposal for Landscape Architectural Information............................ Services dated 1/14/98 Other..................................... — Diagram of Planning Area RECOMMENDED ACTION: Approvals Council Concur Legal Dept.................. pending Finance Dept.............. N/A Other.......................... Risk Mgmt. pending FISCAL IMPACT: Expenditure Required............. $55,580.00 Transfer/Amendment........ N/A Amount Budgeted................... $70,000.00 Revenue Generated......... N/A SUMMARY OF ACTION: Part of the Downtown Redevelopment effort includes funding for the development of a Master Plan for the Downtown Park, or Piazza. The scope of work includes Master Planning and design development drawings for the Piazza, Gateway property, pipeline right-of-way parking lot, and the Logan Avenue streetscape between 2nd and 3rd. Six consulting firms submitted proposals in response to a Request for Proposal sent out November 12. A City review team of Sue Carlson (Economic Development), Don Erickson (Long Range Planning), Shawna Mulhall (Transportation Planning) and Glenn Kost (Parks Admin.) screened the proposals and selected three firms to interview. Interviews were conducted on December 15, with the Berger Partnership emerging as the unanimous choice to complete the project. A contract has been prepared, and the staff requests that City Council concur with the attached Contract for Landscape Architectural Services with the Berger Partnership, and authorize the Mayor and City Clerk to sign the contract. rev.1/20198 98-010MB.DOC ■��������������I I��wl ISI I���..��������� ■��������������I ISI I�������..��������� ■���I ISI II I�������o���������..��������� • • • ■�����������v���������������1 IMMIMM Mll ■�������������������I 1����1 II ISI ISI I====I ■����������Wv����l INNER! I�M1 == I ■�������������������I 1��1 1mm1 IMMIM I , ■�������������������I 1Ml1 =MMMMMMMI i lmml ■�������������I I����I II 11 ISI 1Ml1 ■�������������I IMMwl IlI 11 11 II 1MM1 MMMM=MMMM ■MMMMMMMMMMmMMI ISI MMIMIII 11 ■MMI IMllElllMllMMlMM Ii1���������������������� • ilii ■mm1 ISI 11 NMI 11 IMI : 1���������������������■■�������� • • • Renton Downtown Park and Streetscape 1/5/98 Fee Estimate Rev. 1/9/98 Page 1 of 3 Description SW LFB GEB S AS Amount Hourly Rate 100 100 65 45 30 MASTER PLAN Project administration 4 14 Draft project schedule 4 Base plan 4 8 Site analysis 2 4 8 8 Program/concept development 1 6 8 Master plan alternatives 4 8 20 40 Meetings w/parks dept. 6@2hrs. 6 12 Meetings w/Design Review Team 6@4hrs 24 24 Coordination w/transit center, Dally, pavilion 12 Presentation of prelim. master plan " Design refinement 4 4 8 Prepare final master plan 1 2 8 40 Prelim. cost estimate 2 6 16 Present final master plan/cost est. 3 3 Meetings w/transit center 2 @ 2.5 hrs Meetings w/Dally project 2 @ 2.5 hrs Ecomomic feasibility consult. select. Establish interview criteria Draft scope of work Interviews meetings w/city officials 2@3 Quality Control 1 2 4 Contingency 1 7 15 12 SUB-TOTAL HOURS 14 72 150 124 0 SUB-TOTAL 1400 7200 9750 5580 0 $23,930.00 MASTER PLAN REPORT Narrative 8 24 8 Graphics 16 40 Meeting w/Design Review Team 2 Printing and coordination 4 4 Project Administration 8 Quality Control 1 1 2 4 Contingency 1 5 4 SUB-TOTAL HOURS 1 10 61 48 12 SUB-TOTAL 100 1000 3965 2160 360 $7,485.00 DESIGN DEVELOPMENT Project administration 2 4 14 Respond to comments 2 4 Design 8 8 32 Meetings w/parks/eng dept. 6@2hrs. 4 12 Meetings w/city eng. 4@2hrs Cost estimate 2 4 8 4 v�,r v.rr Design/draft 32 100 Presentation to Design Review Team Outline specification 4 12 6 Quality Control 4 4 6 4 Coordination w/Transit/Dally/Pavilion 8 Coordination w/city engineering 2 10 Contingency 1 3 15 12 Reimbursibles SUB-TOTAL HOURS 15 33 149 124 10 SUB-TOTAL 1500 3300 9685 5580 300 $20,365.00 CONSTRUCTION DOCUMENT REVIEW for Logan Ave and Parking Area Project administration 2 4 Review CD's of Engineering reviews @ 50, 75, 90, 100% 8 24 Coord/review meetings 3@2hrs 6 Review Transit and Dally CD's 2@3 hrs 2 6 SUB-TOTAL HOURS 0 12 40 0 0 SUB-TOTAL 0 1200 2600 0 0 $3,800.00 CONSTRUCTION DOCUMENTS Project administration Timeline Respond to comments Meetings w/team 6@2hrs TO Meetings w/parks dept. 2@2hrs Design/draft BE Layout Grading DETERMINED Drainage Planting Details Specifications Cost estimate Quality control Presentations Reimbursibles Contingency SUB-TOTAL HOURS 0 0 0 0 0 SUB-TOTAL 0 0 0 0 0 $0.00 ADDITIONAL SERVICES Feasibility Consultant Irrigation Design and CD's for Logan, parking and Gateway Artist Subconsultant fees+ 10% Reimbursibles SUB-TOTAL HOURS 0 0 0 0 0 SUB-TOTAL 0 0 0 0 0 $0.00 BID ADMINISTRATION Questions, addendum TO Review with architect BE Reimbursibles DETERMINED SUB-TOTAL HOURS 0 0 0 0 0 SUB-TOTAL 0 0 0 0 0 $0.00 CONSTRUCTION ADMINISTRATION Project adminstration Site visits &reports TO Submittals, shop drawings Construction meetings BE As built drawings Reimbursibles DETERMINED SUB-TOTAL HOURS 0 0 0 0 0 SUB-TOTAL 0 0 0 0 0 $0.00 PROJECT CLOSEOUT Project administration Warranty review TO BE Reimbursibles DETERMINED SUB-TOTAL HOURS SUB-TOTAL 0 0 0 0 0 0 0 0 0 0 $0.00 PROJECT TOTAL HOURS PROJECT TOTAL 30 127 400 296 22 875 AVERAGE HOURLY RATE 3,000 12,700 26,000 13,320 660 $55,580.00 $63.52 NIC ITEMS: Subconsultant fees(including 10% mark-up) Irrigation Economic Consultant Artist ii /ltd:-�k! .v� '��''�..4,_ •'.�v,:i Sol Oewj�j, All IL,VN its (( �, o"Q�d A����•,.. �w� � 1,+ ss:i OF ��i LANDSCAPE THE BERGER PARTNERSHIP. P.S. ARCHITECTURE SITE PLANNING January 14, 1998 2021 Minor East Seattle, WA 98102 (206) 325-6877 Glenn Kost Fax (206) 323-6867 CIP Manager 200 Mill Avenue South Renton,WA 98055 Proposal for Landscape Architectural Services Dear Mr. Kost: We have based this proposal on the Draft Scope of Services and Fee Estimate provided to you. We look forward to assisting you with the planning and design of the Downtown Renton Plaza and Streetscape Improvements. This letter outlines our proposed landscape architectural services with each phase of service described and a corresponding fee estimate assigned. 1. MASTER PLANNING Services provided during master planning include design, meetings,project coordination, cost estimating,and project administration. Design consideration will be given to the plaza, gateway, Logan Avenue,and parking area as shown in the RFP materials provided by the City of Renton. Oversight and design coordination services will be provided for the existing structure on the plaza site,Dally project, and transit project. More specifically,services include: • Develop project timeline • Analysis of the site and surrounding influences • Program/concept development • Development of three preliminary Master Plan alternatives • Attend six meetings with the Parks Department Principals Presentation of the preliminary Master Plan alternatives to the Design Review Team Thomas Berger Steven P Sbea • Incorporate feedback from the Design Review Team and refine the design Jeff Girvin • Preparation of a final Master Plan Scott Woodcock Linnea Ferrell • Preparation of a preliminary cost estimate based on the final Master Plan Associates Misty Pbilbin Greg Brower Janua�14, 1998 Glenn Kost Proposal for Landscape Architectural Services Page 2 • Presentation of the final Master Plan and preliminary Cost Estimate to the Cite Council • Coordinate design efforts with transit project, Dally project and Pavilion • Provide project administration II. MASTER PLAN REPORT We will prepare a brief Master Plan report documenting the planning process. The report will include the final Master Plan, presentation graphics, a narrative to explain the plan, and the cost estimate. The report will be in 8 1/2"by 11"format. (Reprographic expenses for the reports will be billed as a reimbursable expense to the City.) III. DESIGN DEVELOPMENT This phase of services will focus on the Gateway, Logan Avenue, Parking Area and the Plaza. Oversight,will be provided for the Dally project, and Transit project,and the Pavilion to maintain project unity. Design Development will proceed based on the approved Master Plan and Cost Estimate. The Berger Partnership will prepare Design Development documents that provide preliminary layout, grading and planting information,and identify materials and finishes. Specific services include: • Respond to comments received on the final Master Plan and Cost Estimate • Design refinement • Preparation of one Cost Estimate • Preparation of presentation drawings necessary to convey the design intent • One presentation to the Design Review Team,:. • Attend six meetings with the Parks Department • Preparation of preliminary layout,grading, and planting plans,and details necessary to convey the design intent with reference to materials,finishes,products and plants • Preparation of outline specification • Provide project administration If required,bid alternat=e items will be defined at this phase. We will update the probable cost of construction during the Design Development phase. This plan.will be reviewed with you for your approval prior to proceeding. IV. CONSTRUCTION DOCUMENT REVIEW We will provide design oversight for the development of construction documents by others. • Four reviews of the City of Renton Engineering Department documents for Logan_ •Ave..and Parking Area at%50%, 75%,.90% and 100%completion. Janua*el4, 1998 Glenn Kost Proposal for Landscape Architectural Services Page 3 • Two coordination meetings with the City of Renton Engineering Department. • Two reviews each for the Dally and Transit Projects to ensure a unified design approach. Due to the undefined design scope for the Gateway and Plaza,we are unable to provide estimated fees at this time for this portion of the project and its subsequent Bid Administration, Construction Administration, and Post Construction phases. As the scope is defined at the completion of design development,we will provide you with estimated fees for the remainder of the project. V. CONSTRUCTION DOCUMENTS Upon your approval.of the Design Development drawings and estimate of probable construction costs,we will prepare construction documents for all, or portions of the project, as you direct. These documents include plans and specifications which together will define the way the landscape construction will be implemented. The construction documents will address details and layout for such items as demolition,grading, irrigation, soil preparation,wood/concrete/brick construction, paving, lighting suggestions, and planting. Specific services include: • Response to comments regarding the final design development documents and cost estimate • Preparation of layout,grading, planting plans, and construction details • Preparation of construction specifications . • Prepare one final Cost Estimate • Attend meetings with.the Parks Department_and the City Engineering Department • . Provide.project administration VI. BID ADMINISTRATION The bid process will be administered by the City of Renton, including advertising for bids. Services provided by.-The Berger Partnership include responding to contractor questions and preparing addenda. VII. CONSTRUCTION ADMINISTRATION We will provide Construction Administration services while the project is being built to check that the contractor's work is consistent with the con$truction documents and the design intent. I muiary 14. 1998 Glenn Kost Proposal for Landscape Architectural Services Page 4 POST CO\STRUCTION %e will provide the following post construction services after completion of gateway. Logan Avenue, and parking area: preparation of record drawings, one year warranty review with report, and one year maintenance evaluation with report. Fees for post construction services will be determined after the completion of the project and submitted to the City of Renton for approval prior to providing the service. ADDITIONAL SERVICES • IRRIGATION: Irrigation design and irrigation construction documents for Logan Ave. improvements, parking area, and the gateway can be by the City of Renton or by The Berger Partnership. Services through The Berger Partnership will be provided by a subconsultant. • ARTIST: Artists' design services are not included in this scope of work. If their services are deemed necessary we will establish a scope of work, recommend potential artists, and provide estimated fees. ASSUMPTIONS • Survey for surface and subsurface conditions to be provided by the City of Renton. Any known significant geotechnical information shall be included in the site survey. Survey shall include traffic sightlines. • Engineering services for the plaza are not included in the master planning phase. • Engineering services for all design phases for the Logan Ave. improvements, parking area, and the gateway to be provided by the City of Renton. • All permit submittals for Logan Ave. improvements, parking area,and the gateway by the City of Renton. • Bid process will be administered by the City of Renton. • Traffic studies and reports provided by the City of Renton. • SEPA checklists and preparation of any other required environmental documentation is not included in this scope of work. • Project duration is estimated to be one year. Please see attached timelines. Two versions have been provided for your review. The first timeline illustrates typical project procedure, i.e. finishing one design phase before proceeding to the next. The second is a more aggressive timeline and contains overlapping design phases which require timely responses and limited review periods. A final timeline will be produced at the onset of our design work. January 14, 1998 Glenn Kost Proposal for Landscape Architectural Services Page 5 FEES Based on the scope of services identified at this time;we have established a guaranteed maximum fee for landscape architectural services as follows: I. MASTER PLANNING $23,930.00 II. MASTER PLAN REPORT 7,485.00 III. DESIGN DEVELOPMENT 20,365.00 IV. CONSTRUCTION DOCUMENT REVIEW 3,800.00 V. CONSTRUCTION DOCUMENTS To be determined VI. BID ADMINISTRATION To be determined VII. CONSTRUCTION ADMINISTRATION To be determined TOTAL $55,580.00 Fees will be billed on an hourly basis to a guaranteed maximum. Services beyond those noted in this proposal will be billed as additional services on an hourly basis as follows, or lump sum fees can be negotiated: Principal-Scott Woodcock, Linnea Ferrell $100.00 per hour Associate- Greg Brower $65.00 per hour CAD Manager $55.00 per hour Technical Staff- $45.00 per hour Administrative Staff $30.00 per hour Printing, reprographic expenses, CAD plots,film, travel costs, and other reimbursable expenses will be billed in addition to the above fees. All accounts are due in ten days. Invoices not paid within 30 days of invoice date will be subject to late charges of 1%per month. If payment for services is not received within 90 days of the invoice date, all subsequent services.and/or issuance of documents may be postponeduntil receipt of payment, unless special arrangements are made prior to providing the services. Fees may be subject to renegotiation if the proposal is not accepted within 30 days. If the _ duration of the contract exceeds one year, hourly rates may be subject to annual adjustments at the anniversary date of the,contract. REVISIONS On approval of the Master Plan, any substantive revision to the drawings resulting from City of Renton directed changes (including program changes or scope of work changes), will be billed as an extra service. "Billing will be hourly, unless a guaranteed maximum fee is requested for,the revision. Written confirmation of the change/revision will be sent as an amendment to this:contract. Revision work started at the direction of the City of Renton,'thensubsequently terminated,will be billed as extra service through date of stop- work notification. Janua' 1 i. 1998 vwr� Glenn Kost Proposal for Landscape Architectural Services Page 6 � I HOLD HARMLESS Consultant agrees to hold the City harmless from any damage, liability, or cost including reasonable attorney's fees to the extent caused by the Consultant's negligent acts, errors, or omissions in performance of professional services under this Agreement. In the event the City shall,without fault on its part, be made a party to any litigation commenced by or against Consultant, then Consultant shall proceed and hold the City harmless and the Consultant shall pay all costs, in connection with such litigation. ATTORNEY'S FEES In any dispute concerning or arising under this Agreement or any transaction relating thereto, the prevailing party shall be entitled to reasonable attorneys' fees, expenses, and costs. If this proposal meets with your approval, please sign one of the copies and return it to our office. If you have questions,would like more information, or wish to make any modifications, please do not hesitate to contact us. We look forward to working with you on the Downtown Renton Park and Streetscape Improvements. Sincerely, THE BERGER PARTNERSHIP, P.S. Gre rower Ass fate APPROVED: Linnea Ferrell Date Principal Enclosed: 1 return copy Certificate of liability Insurance Timelines Fee Estimate THE BERGER PARTNERSHIP, P.S. CITE OF RENTON Office of the City Attorney Jesse Tanner,Mayor Lawrence J.Warren MEMORANDUM To: Sue Carlson✓ Jay Covington From: Lawrence J. Warren, City Attorney Date: May 11, 1998 Subject: Big 5 Acquisition This memo is an update to several conversations that we have had about acquiring the 18 ft. strip from Big 5. As I suspected, Big 5 is going to claim that the acquisition by the City has damage to their larger remaining parcel. Their case is going to be difficult because their loss will come more directly from loss of the Seattle pipeline property over which they only had a month to month lease. I rather suspect that Big 5 will try and argue to the judge (and perhaps to the jury) that both the 18 ft. acquisition and the City's obtaining of the lease of the Seattle water line are both compensable. One can never guess how a judge will rule on the admissibility of evidence, but, Big 5 did not have much of a property right in the Seattle water line lease as it was on a 30 day revocable basis. If the court does not allow any damages because of the loss of the 30 day revocable lease, then there should not be much damages associated with the loss of the 18 ft. strip which is physically separated from the rest of the Big 5 holdings. To do an appropriate risk analysis we need to examine what could happen if the judge allows a mention of the loss of the Seattle water line lease. The judge or the jury could rightfully or wrongfully lump the two losses together and try and compensate Big 5 for both the loss of the 18 ft. strip and the Seattle water line. If that is done, then Big 5 can put on a case that the value of their property has been diminished. The real risk is that if Big 5 succeeds in that argument at all, they will undoubtedly surpass the City's offer of compensation. Once the offer has been exceeded by 10%, then they Pnct nffire Box 626 - 100 R 2nd Street - Renton Wachinarnn QRnl;7 405/11/98 Page 2 recover their attorney's fees and costs, as well as their additional damages.-My fear is that the City-'.s attorney's fees, coupledwith Big 5's attorney's fees and costs, and any damages _ - might equal the.value of the property. What I am,intending to do is to proceed with the condemnation. At the earliest possible date I will try and force.a hearing before the court on these issues. If we should lose, then we need to consider buying out Big 5 rather than allowing the case to go to trial. In the meantime, we can also try and put together the deal with Don Dally. If the City is willing to contribute the same amount to Dally as we would have given to Big 5, this will give him a little more negotiation room to purchase the property from Big 5. I will try and keep you informed as this case progresses. i Lawrence J. Warren LJW:as. cc: Mayor Jesse Tanner A8:140.51. A44) A IT' OF Rk T«w C � N ON WIL Office of the City Attorney Jesse Tanner,Mayor Lawrence I Warren MEMORANDUM To: Sue Carlson, Economic Development Director From: Lawrence J. Warren, City Attorney Date: March 6, 1998 Subject: Ordinance Authorizing the Acquisition of Certain Property for the Purpose of Traffic Circulation, Parking and Pedestrian Use (Big -5} I am enclosing a copy of the above-referenced ordinance. The original of this ordinance has been sent to the City Clerk. C7/ LawrencIJarren LJW:as. Encl. cc: Iay Covington Marilyn J. Petersen, City Clerk A8:138.10. Post Office Box 626 - 100 S. 2nd Street - Renton, Washington 98057 - (425)255-8678 9 This paper contains 50%recycled material,20%post consumer ,T CITU OF RENTON Office of the City Attorney Jesse Tanner,Mayor Lawrence J.Warren January 16, 1998 Mr. Dorman Leighty Real Estate Director Big Five Sporting Goods 2525 East Elsegundo Boulevard Elsegundo, California 90245 Mr. Gary Mead General Counsel Big Five Sporting Goods 2525 East Elsegundo Boulevard Elsegundo, California 90245 Re: Acquisition of 18 Foot Strip from Big Five in Renton,Washington Gentlemen: By letter dated December 19, 19971 wrote to you about the City's plans to acquire an 18 ft. strip from Big-5. I know the holidays have consumed a lot of_time and that you may not have had an opportunity to reply to my letter in the normal course of business. However, I did want to emphasize that I want to keep this acquisition moving. Therefore, I need a response to my December 19, 1997 letter at your earliest convenience I am trying to make sure that I keep the communication flowing so that there will be no misunderstandings. I have not tried to establish the time schedule yet for asking the City to authorize use of the power of eminent domain, but that cannot be too far in the future. Of course, should I find it necessary to move forward to use eminent domain, we can continue discussions on arriving at just compensation for this acquisition. Just in case you misplaced my letter of December 19, 1997, a duplicate copy is enclosed. I Look forward to hearing from you at your earliest convenience , Very" Iy yours, n Y A Y ;i Lawrence J l.Warren g ` d LJW as . cc ay Covington }Y z Y Sue'Carlson h �4` vlyFt l' ✓4 A8.137.08 x Post Office Box 626 100 S.2nd Street Renton,Washington 98057 - (425)255-8678 NOW CITY OF RENTON, WASHINGTON ORDINANCE NO. 4713 AN ORDINANCE OF THE CITY OF RENTON, WASHINGTON, AUTHORIZING THE ACQUISITION OF CERTAIN PROPERTY AND PROPERTY RIGHTS BY EMINENT DOMAIN AND PROVIDING FOR THE PAYMENT THEREOF; AUTHORIZING THE CITY ATTORNEY TO PREPARE A PETITION FOR CONDEMNATION IN THE SUPERIOR COURT IN AND FOR THE COUNTY OF KING AND FOR THE PROSECUTION THEREOF FOR THE ACQUISITION OF SUCH PROPERTY AND PROPERTY RIGHTS FOR THE PURPOSE OF TRAFFIC CIRCULATION, PARKING AND PEDESTRIAN USE (BIG FIVE PARCEL) . THE CITY COUNCIL OF THE CITY OF RENTON, WASHINGTON, DO ORDAIN AS FOLLOWS : SECTION I . The City Council finds acquisition of the following described property and property rights is necessary and for a public purpose and use, i . e . traffic circulation, parking and pedestrian use . The properties to be acquired are described in Exhibit "A" which is attached hereto and incorporated by reference as if fully set forth. The City of Renton is authorized by the laws and statutes of the state of Washington to appropriate lands and property rights through the exercise of its right of eminent domain within its corporate limits necessary for the above-stated purpose. SECTION II . The City Attorney is hereby authorized and directed to commence condemnation proceedings against the owners and all other parties in interest in the above described lands and improvements, if any, as provided by law; to prepare the necessary petition for condemnation; to commence and prosecute such action in the Superior Court in and for the County of King t against all the owners and interested parties in the hereinabove 1 ORDINANCE NO. 4713 *40 described property; and to acquire the aforedescribed property and property rights for the City of Renton. Such proceedings shall be to determine the just compensation for the appropriation of such property and property rights by the City of Renton. SECTION III . This vacant 4 , 377 sq. foot parcel is located between Logan Avenue South and Morris Avenue South and S . 2nd and S . 3rd Streets . SECTION IV. Compensation for the acquisition of said property and property rights shall be from the City of Renton' s General Fund. SECTION V. Nothing in this Ordinance shall be construed as a waiver by the City of Renton of its right to decline to take and pay for said property and property rights after the amount of just compensation has been ascertained, and within the time allowed by law. SECTION VI . This Ordinance shall be effective upon its passage, approval, and five days after its publication. PASSED BY THE CITY COUNCIL this 23rd day of March , 1998 . Marilyn P tersen, City Clerk APPROVED BY THE MAYOR this 23rd day of March 1998 . Je se Tanner, Mayor r ORDINANCE No. 47131W* Approved to f oxza-: Lawrence J. WarreV City Attorney Date of Publication: 3/27/98 (Summary) ORD. 707 : 3/24/98 :as . EXHIBIT "A" ALL OF THAT CERTAIN PARCEL OF LAND KNOWN AS THE RIGHT OF WAY FORMERLY OCCUPIED BY SEATTLE AND RAINIER VALLEY RAILROAD COMPANY, WHICH ABUTS LOT 7 IN BLOCK 1 OF SMITHER'S SIXTH ADDITION TO THE TOWN OF RENTON AS PER PLAT RECORDED IN VOLUME 26 OF PLATS ON PAGE 47, RECORDS OF KING COUNTY, WASHINGTON; BEING A STRIP OF LAND 18 FEET IN WIDTH AND 243.15 FEET LONG; SITUATED IN THE SOUTHEAST QUARTER OF SECTION 18, TOWNSHIP 23 NORTH, RANGE 5 EAST, W.M. 3 BfG 5 CONDEMNAION S 2nd St f Preci ion Tire a� • 4{ t' ':a1} 4. ,ii••,a'• �' 1�,• 1. ++:•'+''t\'. '.{'.7{x{4 �.---.T .. .T ,'{�.'+ a,„��'•�•�.�at,a..,{�,•'. s`•.• ,.=jf.•'j'•-{••;�,'a-•V9: � .%.•�' •¢ .4+ :+.: �' 4,•.{: t�:,�a.•K�4ti;::�'. ; �{ :..4 'a .. .':.�-:t: �� '•4y at1 4iM a.`4t ` + + taa to ♦s� � •a 1 i+ ;14 � •iiia..+{; �•7t • .t:tti a't` { :7 r' + •4 :^I • .{.•'. �` ';•�'::�•.��a..'.�; .i i 4..s-. •,•,:., t.'_�,� ••,�•••t.:. }' ?{'• t� .A 11�„lll .•4�{ �' '� +•:tY a. 'q. ,'* :t. :.f.. 7'..•'24 �7 4{ is .t. �.* ” +:t.4;'�1.4..�-i:7�'a:+tom.!• t7,~.? rn �•�<..'� �'4�si:{.4 •�' :? •: ,t '�' '`{ ''�' t .�;:.f4:f :. a; �+ .t��.'i;4a:Y.S. VJ { •. ':+. ti•t`.i••{•t.�;c..a y�=t t:�_;- _«7:•:• :.+.. ..*4,:` !.�•'`t4, t: •7 '.�.•'a; ••,�.: 4 ,.:`a F•.a. 't.•.... :S^. 4+:.•{-; iy,'a: 'i•*•,a:_t'r ,4 ' •• { a' .''� �� . ,;t 4, .��•;f.4 `;1-:'4 '.�,,a; Y t.`•aa .41�.,+��{:, ai +7•+t* Peel ,. •;:;.. { - 1. ��Jl `V x Big 5 Sporting Cit of 0 Goods Renton S 3rd St r AIR%4iiNeighborhoods & Strategic Planning o ED/N/SP 0. Dennison 13 March 1998 �..• CI'k&vY OF RENTON Office of the City Attorney J e Tanner,Mayor Lawrence J.Warren March 30, 1998 Mr. James L. Phillips Miller, Nash, Wiener, Hager& Carlsen, LLP 4400 Two Union Square 601 Union Street Seattle, Washington 98101-2352 Re: Big 5 Dear Mr. Phillips: Thank you for your letter of March 26, 1998. In it you urge the City of Renton to consider Big 5's concerns and propose other alternatives. We have tried to work with Big 5 and have come up with a number of novel approaches, all of which have been rejected. The dialogue has, in essence, been discontinued by Big 5 and yet Big 5 asks us to come up with other ways to resolve our problems. We cannot do this in a vacuum. While I certainly want to maintain a good relationship with Big 5, my client does have plans for this property. I will be initiating the condemnation action and should have the suit to you within the next ten days or so. I strongly believe in dispute resolution short of the courtroom. If you have any ideas, I am willing to listen. In the meantime I will try and see if there is any accommodation that the City can make that will assist Big 5. At the present time I have no such ideas. Your letter indicates that Big 5 lacks parking. I drive by that store frequently. There is almost always a lot of parking spaces available The City's plans would make a number of public parking spaces available nearby. We had proposed a driveway or curb cut that would allow easy access between the Big 5 lot and the adjoining public parking. That was not acceptable. The City does not perceive Big 5 as having a parking problem, even after acquisition of this property. Perhaps we need to explore this issue further after I have started the condemnation action. Post Office Box 626 - 100 S. 2nd Street - Renton, Washington 98057 - (425)255-8678 Mr. James L. Phillips March 30, 1998 Page 2 As I have stated before, I wish to maintain a dialogue concerning this issue. A dialogue presupposes two-way communication. To date the City has been left in a position of bidding against itself and that is never productive. . If you can perceive a way for us to address the issues between us, please let me know and I will promise to give it a great deal of consideration. Very truly yours, Lawrence J. Warren LJW:ass1 cc: .Jay Covington Sue Carlson A8.1319.16. co tll G 2oc��aivo�mmc�°o�,m;,rn>am�c `a�,� oNN a �m 2O Oam.�'C ^ Oi0 pU mgnc: l i off 9--M r rncd. aORQ8oQV'S GWDOC c�OUCl^e��Wimmy.Om .UNWUZme � �ggvoen � E�cG cea '0 a: &RaECr �4mC�G mWxUc ' �:.m`CcyoUmcaoa`m�ogrOm`mm 'U��mp•io�v�N� 0." ;9 fui-ID :° '5 c°meoa2E ¢OZoDiV$$v " �UUea ,EiE0o mm0, `r +0 C' C: IV wa � mgE £ n`t � ¢W 'c'e.c� cca mG NommmvZe' (, vmc2U� �V ;_Vco � ' � i crn �rnom� m c� a° UmOU Z. cWm � UcQm �OecWovm2 ocN�.MNoE aOQao� o a��"oEEt « IC U � '�m � _ x� Qo A • 2 o u,5Jm ' � CCGD:6m�COCm -J � �•GOfglm8z .00 Z O E OmmO om.0� om£�4mmmc c 3y . cy mDO� g=", n _ �m. aoU0Z=Nmm �2� o E co k.0 AL ccri �MDmaUy a c'am` Q x nW m�� Nom' a � a) O N O C L � st O w C O `.- U �- �i' c co U O >. N 'a a co mE N > > y �s w x '50 L) U L O (� N N a7 •NC L '� M C 0 M Na WL •� 50 (n p CD ... ZCc, L CD .- .,. cc c a) 05r L O 0cL 0 E C 15 0 "L� C w �j ' O � t vs 2 O S Q N f^-y/ C C 0 On D F+1 .1'� C >N Q C �' �+ O U N W a)CO) 2 > 'D , W C C \ r —•� c Q 3 o o M a c w \ oC Ycc NM .r a9 �, o p a) = ai 0 a N C L O L O i N � :: O !� w C N O .0 0 W O o � � cV Cl.m cc 3 3 c U! �`h' O 4 CP) •�L -E o ` O 3 �hf�--l/r Q E c O YI cc V .0 O 'O O C C 0 > N c c 3 c uC°i (� n- cw0 CoC Q H C NO m c E �.. UcWc oFo � cm -2 o - F- Z 0 mLoCO •N� YCrn � Ut5 — E C w X a> v L a> cv := a c cD E •c cD `o CD Qm is T E w c En m a E ��0�lb .•..........N0 zl o LcOco M 0 mcN Cl) 0 3 :J ••'� O'• ti' �ome�oa � cev oqw N ��• :a a �3Z% C cc a7 N O L C C O C O �' C Z'•_ vi O S H . Q o V m ca acas s v 'a 02 as — •3 rte- m •-i'a= CD O L — L F- .Oi N v- L CO E i c .. cm t O o �� 4 4:�� 00 cu C CL c4 --16 v Z m F- —i March 23, 1998 Renton Citv Council Minutes Page 109 ORDINANCE AS PRESENTED. ROLL CALL: ALL AYES. MOTION CARRIED. Ordinance #4711 An ordinance was read changing the zoning classification of approximately 9.0 Rezone: Valley Medical acres located at S. 43rd St. and Davis Ave. S. from P-1 (Public Use) to Center South Campus Commercial Office (CO) for the Valley Medical Center south campus Rezone to CO property. MOVED BY EDWARDS, SECONDED BY CORMAN, COUNCIL ADOPT THE ORDINANCE AS PRESENTED. ROLL CALL: ALL AYES. MOTION CARRIED. The following ordinance was presented for first reading and advanced to second and final reading: EDNSP: Downtown An ordinance was read authorizing the acquisition of certain property (a Vacant Parcel Acquisition vacant 4,377 square foot parcel located between Logan and Morris Avenues for Parking & Trail South and South 2nd and 3rd Streets) and property rights by eminent domain, (Logan & Morris/2nd & and providing for the payment thereof, authorizing the City Attorney_ to 3rd) prepare a petition for condemnation in the Superior Court in and for the County of King and for the prosecution thereof for the acquisition of such property and property rights for the purpose of traffic circulation, parking and pedestrian use. MOVED BY EDWARDS, SECONDED BY SCHLITZER, COUNCIL SUSPEND THE RULES AND ADVANCE THE ORDINANCE FOR SECOND AND FINAL READING. CARRIED. Ordinance #4712 Following second and final reading of the above-referenced ordinance, it was EDNSP: Downtown MOVED BY EDWARDS, SECONDED BY SCHLITZER, COUNCIL ADOPT Vacant Parcel Acquisition THE ORDINANCE AS PRESENTED. ROLL CALL: ALL AYES. MOTION for Parking & Trail CARRIED. (Logan & Morris/2nd & 3rd) NEW BUSINESS Responding to Councilman Parker, Mayor Tanner confirmed that Renton is Executive: Fire District not recouping the complete cost of providing services through its contract #25 Contract with Fire District #25. The approximate cost of services is $1.3 million, but the City receives only $700,000 in payment (along with 10% of the title to the fire station each year, worth another $200,000 annually). MOVED BY PARKER, SECONDED BY CORMAN, COUNCIL REFER THIS MATTER TO THE FINANCE COMMITTEE. CARRIED. AUDIENCE COMMENT Dan Trimble, 1600 - 7th Ave. #2000, Seattle, 98191, asserted that GTE failed Citizen Comment: Trimble to provide an amount for one of the Voice & Data Infrastructure optional (or - New City Hall Active alternative) bid items, which could be construed as noncompliance with the Electronics (Voice & Data bid requirements. Saying that federal and state regulations allow for proposal Infrastructure), US West changes where mistakes have been made, he again urged Council to postpone Protest awarding this contract and investigate this matter further. Mr. Trimble concluded that if Renton awards this contract to GTE, U.S. West intends to file a formal protest. Mayor Tanner replied that with its action earlier this evening, Council has already awarded this contract to GTE. He emphasized this matter is not a question of fairness, but rather of legal liability for the City. EXECUTIVE SESSION MOVED BY EDWARDS, SECONDED BY CORMAN, COUNCIL RECESS INTO EXECUTIVE SESSION FOR 10 MINUTES TO DISCUSS PROPERTY ACQUISITION. Time: 9:03 p.m. March 23, 1998 Renton City Council Minutes Page 103 ADMINISTRATIVE Chief Administrative Officer Jay Covington reviewed a written administrative REPORT report summarizing the City's recent progress towards goals and work programs adopted as part of its business plan for 1998 and beyond. Items noted included: * The groundbreaking ceremony for the first phase of the Oakesdale Ave. SW project was held on March 19th. * The Parks Department's Special Olympics Basketball Program will celebrate its best year ever at an awards event on March 26th. * Information about current downtown projects will be available at an open house to be held March 25th at Jubilante Restaurant. AUDIENCE COMMENT Dan Trimble, 1600 - 7th Ave. #2000, Seattle, 98191, representing U.S. West Citizen Comment: Trimble Communications Services, protested the recommendation of staff to award the - New City Hall Active bid for the New City Hall Active Electronics (Voice and Data) project to Electronics (Voice & Data GTE. Mr. Trimble claimed that although U.S. West was the actual low Infrastructure), US West bidder, and GTE the second low, U.S. West's bid was disqualified by the City Protest because it contained inaccuracies. Although U.S. West offered to provide one overlooked item at no cost to the City, and further proposed a resolution to another discrepancy, Renton rejected its bid as non-responsive. Emphasizing that U.S. West can provide the needed products and services for about $111,000 less than GTE, Mr. Trimble urged Council to postpone awarding this bid so it can be reviewed further. He added that the City did reserve the right to waive any irregularities in the bidding process. Chief Administrative Officer Jay Covington said while the City would certainly prefer to award this bid for less money, U.S. West's proposal was determined to be non-responsive because it contained substantial, material mistakes. Renton is required to accept the lowest responsive bid, and if it were to accept the bid from U.S. West because it is lowest (yet non- responsive), the City would be vulnerable to a challenge by GTE, the actual lowest responsive bidder. Assistant City Attorney David Dean added that the bidding laws are made to protect the integrity of the bid process and to ensure that bidders submit accurate bids. The City cannot enter into negotiations with bidders who submit non-conforming or unclear bids, because no bid can be revised after it has been submitted. Mr. Dean concluded that U.S. West has no legal recourse in this situation. CONSENT AGENDA Items on the consent agenda are adopted by one motion which follows the listing. At the request of a Councilmember, items 8.a. and 8.b. were removed for separate consideration. EDNSP: Puget Sound Economic Development, Neighborhoods and Strategic Planning Department Blood Bank & Program recommended approval of a resolution authorizing the King County Economic Tax-Exempt Bonds Enterprise Corporation to issue tax-exempt financing to the Puget Sound Blood Bank and Program for a new facility at 501 SW 39th St. in Renton. Refer to Finance Committee. EDNSP: Downtown Economic Development, Neighborhoods and Strategic Planning Department Vacant Parcel Acquisition recommended acquisition by eminent domain of a vacant 4,377 square foot for Parking & Trail parcel located between Logan and Morris Avenues South and South 2nd and (Logan & Morris/2nd & 3rd Streets, for development of public parking spaces and a trail system. 3rd) Council concur. (See page 109 for ordinance.) C,. y OF RENTON COUNCIL AGENDAft#ILL SUBMITTING DATA: FOR AGENDA OF: March 23, 1998 Dept/DivBoard....Economic Development Staff Contact.........Sue Carlson AGENDA STATUS: Consent................. X SUBJECT: Public Hearing..... Acquisition by eminent domain of vacant downtown Correspondence... parcel Ordinance............. X Resolution............ Old Business......... EXHIBITS: New Business....... Ordinance Study Session........ Staff Report Other..................... RECOMMENDED ACTION: APPROVALS: Council concur ( Legal Dept............ X Finance Dept........ Other..................... FISCAL IMPACT: Expenditure Required..... Transfer/Amendment.... Amount Budgeted............ Revenue Generated....... SUMMARY OF ACTION: Administration recommends Council authorization for the City Attorney to begin eminent domain proceedings to acquire a parcel of vacant land located on the north side of the,City of Seattle's Cedar River Pipeline between Logan Ave S and Morris Ave S. Site dimensions are 18 ff. x243 ft. Site area is estimated at 4,377 sq. ft. STAFF RECOMMENDATION: Approve ordinance for first reading, advance to second reading, and adopt ordinance. Agdbill2 CITY OF RENTON ECONOMIC DEVELOPMENT, NEIGHBORHOODS, AND STRATEGIC PLANNING MEMORANDUM DATE: March 18, 1998 TO: Bob Edwards, President City Council Members FROM: Jesse Tanner, Mayor STAFF CONTACT: Sue Carlson, Economic Development Administrator SUBJECT: Eminent Domain Proceedings Background The City is developing 50 public parking spaces and a trail system on the City of Seattle's Cedar River Pipeline. The additional parking is necessary to supplement downtown parking removed because of the transit center and to provide parking for retail uses in the area. Part of this project includes a narrow strip of privately owned property to the north of the pipeline.This property is 18' x 243' and is owned by Big Five Sporting Goods. Big Five is currently using this property along with the adjacent pipeline property for overflow customer parking.The addition of this property to the project creates enough width to build both the parking and the trail system. Without this property,the parking could have been completed,but not the trail. The City's intention to create additional parking on the pipe line property and make significant improvements to the site seemed to be a win/win situation for both the City and Big Five. Big Five would still be able to park on the site and the City would be able to complete the trail and build additional public parking. Description of the property The property under consideration for condemnation is a parcel that is a 18' by 243' strip of vacant land located on the north side of the City of Seattle's Cedar River Pipeline. Site area of the property is estimated at 4,377 square feet. This is one of two parcels in downtown Renton owned by Big Five. The parcels are divided by property owned by the City of Seattle's Public Utility District. Big Five has leased the Seattle Utilities property between the two parcels on an annual basis. The lease is revocable on thirty days notification from Seattle.The City of Renton has been negotiating with Seattle Utilities for the past nine months and now has an agreement in principal that would give Renton the use of the pipeline for public parking and a trail in perpetuity. History of Negotiations City staff has been talking to the Big Five Sporting Goods corporate office about selling this property since last spring.The Vice President of Real Estate for Big Five, Dorman Leighty, came up from California in May of 1997 and spent several hours touring the downtown and discussing the City's concepts for redevelopment of the area. At that time,Mr. Leighty indicated that the corporation was discussing what to do with the downtown store and they needed to process this information. March 18, 1998 Page 2 Since that initial meeting staff has contacted Mr. Leighty on several occasions to bring him up to date on the City's plans and to get his input into the process. He has received all the conceptual plans for this project as well as a copy of the memo to the City Council dated August 18, 1997 asking for Council approval to fund the public improvements. Mr. Leighty never indicated an unwillingness to sell the 18-foot wide section to the City. Until recently it seemed as though the City and Big Five were in agreement that this would be a major improvement to their property and that it would be in Big Five's best interest to help make this happen. Staff has indicated to Mr. Leighty that the City wanted to work with Big Five and would take the following measures to insure that the parking improvement would be beneficial to his company: • Work with the consultants who are designing the parking and trail to include a driveway from Big Five's parking lot to the pipeline.This would allow direct access for his customers to this additional parking. • Make the parking on the pipeline limited to one or two hours,Monday—Saturday 8:00 am- 6:00 pm to ensure that it is available for retail customers and is not used by Dally Homes for tenant parking. During non-store hours the parking would be available for visitors to the apartments. • Include Big Five in the design of the gateway feature to ensure compatibility with the store. At this point these measures seem to have failed and Big Five has taken a more adversarial position. Their response now to negotiations is that this project would harm their retail sales and reduce parking for their customers.The Administration does not agree with this assessment. The impact of almost$15 million dollars in public and private improvements adjacent to their store should be beneficial to their property.Parking would still be available for their customers. Recommendation Authorize the Administration to institute eminent domain proceedings to acquire this 18-foot strip of property from Big Five Sporting Goods. Ask the court to give the City immediate use and possession so that the City can begin to construct the public improvements in the pipeline corridor. NuR1 CITY OF RENTON u CITY CLERK'S DIVISION MEMORANDUM DATE: March 18, 1998 TO: Tom Boyns, Property Svcs. FROM: Bonnie Walton, ext. 2501 SUBJECT: Warranty Deed/La Joy - #9801120426 The attached document has been recorded with King County, and copy is being returned to you. Please forward copy to parties of interest, and retain one for your file. Thank you. Enclosures: (1) cc: Stephanie Rary, Legal Assist. to David Dean irr Return Address: O 0 City Clerk's Office ' City of Renton 200 Mill Avenue South o 0 Renton,WA 98055-2189 cu O O WARRANTY DEED Property Tax Parcel Number: 569600-0105 Project File: Transit Hub Street Intersection:S 2nd&Burnett Ave S W Grantor(s): Grantee(s): 1. Michael J. and Mary La Joy Family 1. City of Renton,a Municipal Corporation � N O Trust under date of 4-14-82. *i V-/ LEGAL DESCRIPTION: OLots 12 and 13,Block 2,Motor line Addition to the City of Renton,according to the plat thereof recorded in d, Z Volume 9 of Plats,page 50,in King County,Washington; EXCEPT the easterly 6 feet thereof conveyed to the City �. 'J, of Renton by deed recorded under Recording Number 910201;and subject to easements/restrictions/reservations of record. cu The Grantor,for and in consideration of Ten Dollars($10.00)and other good and valuable consideration conveys,grants M and warrants to the Grantee(s)as named above,under threat of eminent domain the above described real estate situated in 4O the County of King,State of Washington. T4 W IN WITNESS WHEREOF,I have hereunto set my hand and seal the day and year as written below. Approved and Accepted By: Grantor(s): r Michael J. La Jo rustee DATED: December 3, 1997 Mary Jan o ,Trustee STATE OF WASHINGTON )SS as Trustee of the Michael r` Notary Seal must be within box COUNTY OF KING ) JjA ,�aqy t a J(o By Family Trus I certify that I know or have satisfactory eviJ nce that chael J.La Joy and Mary Jane La Joy signed this instrument and acknowledged it to be their free andled SUTj'0ww"_ti gn g voluntary act for the uses and purposes mentioned in the instrument. 04 '111 /�JQ�� blic in and for a tate of Washington ��� 11i,� �.�g-`�: Notary(Print) <L tt ,� '"•,��••` -= My appointment expires: o t l 11, ' w Dated: 2 u of Return Address: City Clerk's Office City of Renton 200 Mill Avenue South Renton,WA 98055-2189 WARRANTY DEED Property Tax Parcel Number: 569600-0105 Project File: Transit Hub Street Intersection:S 2nd&Burnett Ave S Grantor(s): Grantee(s): 1. Michael J. and Mary La Joy Family 1. City of Renton,a Municipal Corporation Trust LEGAL DESCRIPTION: Lots 12 and 13,Block 2,Motor Line Addition to the City of Renton,according to the plat thereof recorded in Volume 9 of Plats,page 50,in King County,Washington; EXCEPT the easterly 6 feet thereof conveyed to the City of Renton by deed recorded under Recording Number 910201;and subject to easements/restrictions/reservations of record. The Grantor,for and in consideration of Ten Dollars(S 10.00)and other good and valuable consideration conveys,grants and van-ants to the Grantee(s)as named above,under threat of eminent domain the above described real estate situated in the County of King,State of Washington. IN WITNESS WHEREOF,I have hereunto set my hand and seal the day and year as written below. Approved and Accepted By: Grantor(s): Grantee(s): City of Renton Michael J. La Jo3ktrustee Mayor Mary hriffL40oy,Trustee City Clerk STATE OF WASHINGTON )SS Notary Seal must be within box COUNTY OF KING ) _ ,`%%%%%%% I certify that I know or have satisfactory evidence that Michael J.La Joy and Maty Jane La Joy signed this instrument and acknowledged it to be their free and voluntary act for the uses and purposes mentioned in the instrument. • = pew lic in and for a tate of Washington D _ ti Notary(Print) 04� 1.Og�� _ My appointment expires: Q4ZO Dated: 2 ATTACHMENT 4 7C 15AG08.MER l PACIFIC NORTHWEST TITLE Company of Washington, Inc. Formerly Stewart Title Company of Washington The City of Renton/Public Works Department 200 Mill Avenue South Renton, Washington 98055 Attention: Tom Boyns Order No . : 314572 Your Ref . : WO #25365 Please find enclosed a copy of a Commitment for Title Insurance on the above referenced transaction. Please NOTE that this commitment is issued on Pacific Northwest Title Insurance Company (PNWT) . PNWT is the newest member of our growing list of affiliated companies and is the only title insurance underwriter based in Seattle, Washington. With over $5, 000, 000 . 00 invested in local area financial institutions, PNWT has earned a Demotech Rating of "A Prime" , signifying "unsurpassed financial stability" . This financial strength, combined with local underwriting expertise, means a smoother transaction for you. Thank you for the business, and please feel free to call if you have any questions . Mike Sharkey Senior Title Officer Unit 12 1201 Third Avenue A Suite 3800 A Seattle, WA 98101-3055 A (206) 622-1040 r Fax: (206) 343-1358 http://pnwt.com COMMITMENT FOR TITLE INSURANCE ISSUED BY PACIFIC NORTHWEST TITLE INSURANCE COMPANY, INC., a Washington corporation, herein called the Company, for a valuable consideration, hereby commits to issue its policy or policies of title insurance, as identified in Schedule A, in favor of the proposed Insured named in Schedule A, as owner or mortgagee of the estate or interest covered hereby in the land described or referred to in Schedule A, upon payment of the premiums and charges therefor; all subject to the provisions of Schedules A and B and to the Conditions and Stipulations hereof. This Commitment shall be effective only when the identity of the proposed Insured and the amount of the policy or policies committed for have been inserted in Schedule A hereof by the Company, either at the time of the issuance of this Commitment or by subsequent endorsement. This Commitment is preliminary to the issuance of such policy or policies of title insurance and all liability and obligations hereunder shall cease and terminate six months after the effective date hereof or when the policy or policies committed for shall issue, whichever first occurs, provided that the failure to issue such policy or policies is not the fault of the Company. Signed under seal for the Company, but this Commitment shall not be valid or binding until it bears an authorized Countersignature. IN WITNESS WHEREOF, Pacific Northwest Title Insurance Company, Inc. has caused its corporate name and seal to be hereunto affixed by its duly authorized officers on the date shown in Schedule A. PACIFIC NORTFM7E,ST TITLE Insurance Company, Inc. Q'�� President S1.E INSUggy Countersigned by: nI ,• •. F /h�C�ll4 r rOFtPORgTF ;•e CO . _ Authorized Signatory Voo :.SEAL: <r PACIFIC tNGkTHWESTTITL ' Okdo%.,••1926•,.0*- Company e, a •.....• �gsNING��� rmuunnnnnmm��N City,State American Land Title Association Commitment-1966 (Rev.3/78) CONDITIONS AND STIPULATIONS 1. The term mortgage, when used herein, shall include deed of trust, trust deed, or other security instrument. 2. If the proposed Insured has or acquires actual knowledge of any defect, lien, encumbrance, adverse claim or other matter affecting the estate or interest or mortgage thereon covered by this Commitment other than those shown in Schedule B hereof, and shall fail to disclose such knowledge to the Company in writing, the Company shall be relieved from liability for any loss or damage resulting from any act of reliance hereon to the extent the Company is prejudiced by failure to so disclose such knowledge. If the proposed Insured shall disclose such knowledge to the Company, or if the Company otherwise acquires actual knowledge of any such defect, lien, encumbrance, adverse claim or other matter, the Company at its option may amend Schedule B of this Commitment accordingly, but such amendment shall not relieve the Company from liability previously incurred pursuant to paragraph 3 of these Conditions and Stipulations. 3. Liability of the Company under this Commitment shall be only to the named proposed Insured and such parties included under the definition of Insured in the form of policy or policies committed for and only for actual loss incurred in reliance hereon in undertaking in good faith (a) to comply with the requirements hereof, or (b) to eliminate exceptions shown in Schedule B, or (c) to acquire or create the estate or interest or mortgage thereon covered by this Commitment. In no event shall such liability exceed the amount stated in Schedule A for the policy or policies committed for and such liability is subject to the insuring provisions, the Conditions and Stipulations, and the Exclusions from Coverage of the form of policy or policies committed for in favor of the proposed Insured which are hereby incorporated by reference and are made a part of this Commitment except as expressly modified herein. 4. Any action or actions or rights of action that the proposed Insured may have or may bring against the Company arising out of the status of the title to the estate or interest or the status of the mortgage thereon covered by this Commitment must be based on and are subject to the provisions of this Commitment. All notices required to be given the Company and any statement in writing required to be furnished the Company shall be addressed to the Company at 1201 Third Avenue, Suite 3800, Seattle, Washington 98101. American Land Title Association Commitment-1966 (Rev.3/78) PACIFIC NORTHWEST TITLE COMPANY OF WASHINGTON, INC. 1201 Third Avenue, Suite 3800 Seattle, Washington 98101 Senior Title Officer, Mike Sharkey Title Officer, Diana L. Cardenas Unit No. 12 FAX Number 206-343-1330 Telephone Number 206-343-1327 The City of Renton/Public Works Department 200 Mill Avenue South Title Order No. : 314572 Renton, Washington 98055 Attention: Tom Boyns Customer Ref. : WO #25365 A. L. T. A. COMMITMENT SCHEDULE A Effective Date: June 2, 1997 at 8:00 a.m. 1. Pacific Northwest Title Insurance Company Policy(ies) to be issued: A. ALTA Owner's Policy Amount TO BE AGREED UPON Standard (X) Extended ( ) Tax (8.6%) Proposed Insured: CITY OF RENTON B. WORK CHARGE Amount $290.00 Tax (8.6%) $ 24.94 2 . The estate or interest in the land described herein and which is covered by this commitment is fee simple. 3 . The estate or interest referred to herein is at Date of Commitment vested in: MICHAEL J. LA JOY and MARY JANE LA JOY, as Trustees of the MICHAEL J. AND MARY LA JOY FAMILY TRUST, under date of April 14, 1982 (NOTE: SEE SPECIAL EXCEPTION NUMBER 2 REGARDING EXECUTION OF THE FORTHCOMING DOCUMENT(S) TO BE INSURED) . 4. The land referred to in this commitment is situated in the County of King, State of Washington, and described as follows: As on Schedule A, page 2, attached. `w.r` Order No. 314572 A.L.T.A. COMMITMENT SCHEDULE A Page 2 The land referred to in this commitment is situated in the county of King, state of Washington, and described as follows: Lots 12 and 13, Block 2, Motor Line Addition to the City of Renton, according to the plat thereof recorded in Volume 9 of Plats, page 50, in King County, Washington; EXCEPT the easterly 6 feet thereof conveyed to the City of Renton by deed recorded under Recording Number 910201. END OF SCHEDULE A NOTE 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. Said abbreviated legal description is not a substitute for a complete legal description within the body of the document. Lots 12-13, Block 2, Motor Line Add. to the City of Renton, Vol. 9, pg. 50 PACIFIC NORTHWEST TITLE COMPANY OF WASHINGTON, INC. A.L.T.A. COMMITMENT Schedule B Order No. 314572 I. The following are the requirements to be complied with: A. Instruments necessary to create the estate or interest to be insured must be properly executed, delivered and duly filed for record. B. Payment to or for the account of the grantors or mortgagors of the full consideration for the estate or interest to be insured. II. Schedule B of the Policy or Policies to be issued (as set forth in Schedule A) will contain exceptions to the following matters unless the same are disposed of to the satisfaction of the Company: A. Defects, liens, encumbrances, adverse claims or other matters, if any created, first appearing in the public records or attaching subsequent to the effective date hereof but prior to the date the proposed Insured acquires for value of record the estate or interest or mortgage thereon covered by this Commitment. B. GENERAL EXCEPTIONS: 1. Rights or claims of parties in possession not shown by the public records. 2. Public or private easements, or claims of easements, not shown by the public record. 3 . Encroachments, overlaps, boundary line disputes, or other matters which would be disclosed by an accurate survey or inspection of the premises. 4. Any lien, or right to a lien, for services, labor or material heretofore or hereafter furnished, imposed by law and not shown by the public records, or Liens under the Workmen's Compensation Act not shown by the public records. 5. Any title or rights asserted by anyone including but not limited to persons, corporations, governments or other entities, to tide lands, or lands comprising the shores or bottoms of navigable rivers, lakes, bays, ocean or sound, or lands beyond the line of the harbor lines as established or changed by the United States Government. G. (a) Unpatented mining claims; (b) reservations or exceptions in patents or in Acts authorizing the issuance thereof; (c) water rights, claims or title to water. 7. Any service, installation, connection, maintenance, capacity, or construction charges for sewer, water, electricity or garbage removal. B. General taxes not now payable or matters relating to special assessments and special levies, if any, preceding the same becoming a lien. 9. Indian tribal codes or regulations, Indian treaty or aboriginal rights, including, but not limited to, easements or equitable servitudes. C. SPECIAL EXCEPTIONS: As on Schedule B, attached. Order No. 314572 A.L.T.A. COMMITMENT SCHEDULE B Page 2 SPECIAL EXCEPTIONS: NOTE FOR INFORMATION PURPOSES ONLY: EFFECTIVE JANUARY 1, 1997, AND PURSUANT TO AMENDMENT OF WASHINGTON STATE STATUTES RELATING TO STANDARDIZATION OF RECORDED DOCUMENTS, THE FOLLOWING FORMAT AND CONTENT REQUIREMENTS MUST BE MET. FAILURE TO COMPLY MAY RESULT IN REJECTION OF THE DOCUMENT BY THE RECORDER. FORMAT: MARGINS TO BE 3" ON TOP OF FIRST PAGE, 1" ON SIDES AND BOTTOM - 1" ON TOP, SIDES AND BOTTOM OF EACH SUCCEEDING PAGE. RETURN ADDRESS IS ONLY ITEM ALLOWED WITHIN SAID 3" MARGIN. NOTHING WITHIN 1" MARGINS. FONT SIZE OF 8 POINTS OR LARGER AND PAPER SIZE OF NO MORE THAN 8 1/2" BY 14" . NO ATTACHMENTS ON PAGES SUCH AS STAPLED OR TAPED NOTARY SEALS; PRESSURE SEALS MUST BE SMUDGED. INFORMATION WHICH MUST APPEAR ON THE FIRST PAGE: RETURN ADDRESS, WHICH MAY APPEAR WITHIN THE UPPER LEFT HAND 3" MARGIN. TITLE OR TITLES OF DOCUMENT. IF ASSIGNMENT OR RECONVEYANCE, REFERENCE TO RECORDING NUMBER OF SUBJECT DEED OF TRUST. NAMES OF GRANTOR(S) AND GRANTEE (S) WITH REFERENCE TO ADDITIONAL NAMES ON FOLLOWING PAGES, IF ANY. ABBREVIATED LEGAL DESCRIPTION (LOT, BLOCK, PLAT NAME, OR SECTION, TOWNSHIP, RANGE AND QUARTER QUARTER SECTION FOR UNPLATTED) . ASSESSOR'S TAX PARCEL NUMBER(S) . (continued) ' *4000, 11141 Order No. 314572 A.L.T.A. COMMITMENT SCHEDULE B Page 3 SPECIAL EXCEPTIONS (continued) : 1. GENERAL AND SPECIAL TAXES AND CHARGES: FIRST HALF DELINQUENT MAY 1, IF UNPAID: SECOND HALF DELINQUENT NOVEMBER 1, IF UNPAID: YEAR: 1997 TAX ACCOUNT NUMBER: 569600-0105-02 LEVY CODE: 2100 CURRENT ASSESSED VALUE: Land: $90, 700.00 Improvements: $26, 500. 00 GENERAL TAXES: AMOUNT BILLED: $1,625.90 AMOUNT PAID: $ 812 .95 AMOUNT DUE: $ 812 .95 SPECIAL DISTRICT: AMOUNT BILLED: $1.25 AMOUNT PAID: $ .63 AMOUNT DUE: $ .62 2 . Terms and Conditions of the Trust under which title is vested. A copy of the instrument creating the Trust must be submitted to the Company for examination. 3 . Payment of Real Estate Excise Tax, if required. The property described herein is situated within the boundaries of local taxing authority of City of Renton. Present Rate of Real Estate Excise Tax as of the date herein is 1.780. 4. Until the amount of the policy to be issued is provided to us, and entered on the commitment as the amount of the policy to be issued, it is agreed by every person relying on this commitment that we will not be required to approve any policy amount over $100, 000, and our total liability under this commitment shall not exceed that amount. NOTE 1: Our examination discloses that the vestee herein does not own any contiguous property. (continued) Ikkk'**Moll Order No. 314572 A.L.T.A. COMMITMENT SCHEDULE B Page 4 NOTE 2 : The name and address of the current taxpayer according to the King County Assessors record is: Mary Jane La Joy 13784 Marchant Avenue Sylmar, CA 91342 NOTE 3 : The vestee herein acquired title by instrument recorded under Recording Number 8204270649. END OF SCHEDULE B Title to this property was examined by: Jon Cross Any inquiries should be directed to one of the title officers set forth in Schedule A. JMC/can/9775O y 7«!7r �Ell `fr✓ - .. ,, RECORDING REQUESTED 9Y HSRBERT L. REFF, ESQ. 12550 ::i�......,idc Dri,� •: No i�g��vw0, c�a 91607 AVD WM[N R[ R J NII1(I. C[D AMD. l,Ml[33 o"". _ —c lus— —0W. MAIL .TAT[N[MT. TC NANaIMr. and Mrs. Michael La Joy ' CQ "4c_ ASO - 13784 Marchant Avenue � � .v 22 - CITT. Sylmar, Ca. 91342 3TAI I _ TitleOrder No. =Y` - SPACE ABOVE'rH 15 LINE FOR RECORDER'S USE �. Quitclaim heed t The -mdersigned declares that the documentary transfer tae is3 NO..TA-X �' OFTITLE CmY........_ and is -` ❑ computed on the full value of the interest or prolrrly conveyed, or is Xt ❑ computed on the fell c;.lur Ice the value of liens or encumbrances remaining thereon at the time of .ale. The land, i tenement*or rcaltr is located in = ; ❑ unincorporated area ❑ city of ._........................................._....................__........................... and rx i" FOR A CALUARI.E CONSIDERATION, receipt of which is hereby acknowledged, MARY JANE LA JOY OD do es •hereby remise,release and forever quitclaim to MICHAEL J. LA JOY and MARY JANE LA JOY, X as Trustees of the MICHAEL J. AND MARY JANE LA JOY FAMILY TRUST, under date of April 14 1982. the following described real k,roperty in the county of King state of GLDfXX%VS Washington: Lot 12 and 13, Block 2, Motor Line Addition to Renton, less street. h King County, Washington. NOKING i E TTAX i APR$8?98Z ' [:E06'74001 t IK� OY STATE OF CAMFORNL{ COUNT). (;J-,LOS A7NG—E7LES the,mdse• ' .� •I aned,■Pusan public In a id for said Counn•and Sure,prnon[Ily FOR NOTARY SEAL OR STAMP — known to in, j X � In he the perwn.__ .aha.e name—il.__aulMrtltied to the.IIh'n . In•Irum,nl mJ a,knnwhd}1d Ihal3i:kQ ,L„uled the lame, O►FICI�.L 96AL y' 3 HERBERT L REFR No.—"VILIC-CAL110ANIA PRINCIPAL a•IC! IN LO}ANOII[[COVNrr SI ---- My Comnualon Gaussun 23.19tI {}, tnslurs of Koury a- 4 a F t rk -♦ A►seasoi%Paeeet No............................................ tit.\IL'rtx STATF:IIF;NTS TO I`MITI' SHOWN ON FOLLOWING LINE; IF NO 1'A[<T)'SC SNctK'N,\L{II.ASOIItF.I_T}:D.UWLF; o., sti3^ - \Am, —SIn,t AJdrro+ City A V31e L-11 -A(G S)(R.,.1.7i) (1 p.) } CITYF RENTON Office of the City Attorney Jesse Tanner,Mayor Lawrence J.Warren RECEIVED February 4, 1998 FEB — 51998 CITY OF RENTON Mr. Tom Boyns PUBLIC WORKS ADMIN. Property Services Supervisor City of Renton 200 Mill Avenue South Renton WA 98055 Re: LaJoy Purchase Dear Tom: Enclosed is the revised Purchaser's Closing Statement for the purchase of the LaJoy property by the City of Renton. As you can see, the price of recording was less than anticipated, however the price of the title insurance was actually $838.43 instead of the price of$314.94 that was in the preliminary commitment. Therefore, Pacific Northwest Title Company needs an additional $223.04 for payment of the title insurance premium. As for the difference in recording fees, enclosed is a check made payable to the City of Renton in the amount of$10.45. Please forward a check to my office in the amount of$223.04 made payable to Warren, Kellogg, Barber, Dean&Fontes, P.S., Trust Account for the difference in title insurance premiums. I have enclosed a copy of the invoice for your records. Also enclosed is a check made payable to the City of Renton in the amount of$655.17, which represents the amounts paid by the City of Renton for 1997 Real Property Taxes on the Adams and Picini parcels. Sound Mazda was responsible for payment of these taxes, and although it was not reflected on the preliminary commitment or in the records of the King County Assessor's Office, they did pay the taxes by the end of October. Thank you for your assistance. Please give me a call if you have any questions. Very truly yours, Stephanie Rary Legal Assistant to David M. Dean Enc. Post Office Box 626 - 100 S. 2nd Street- Renton, Washington 98057 - (206)255-8678 ®This paper contains 50%recycled material,20%post consumer *Moe REVISED PURCHASER'S REAL ESTATE TRANSACTION CLOSING STATEMENT LaJoy to City of Renton Property Address: 215 Burnett Avenue South Renton, Washington 98058 Closing Date: January 9, 1998 DESCRIPTIONCHARGES " CREDITS, [Sales Price 210,000.00 [Relocation costs 1,800.00 FEscrow Fee 400.00 Recording Fees 10.45 Title Insurance Premium Fee 863.37 Pa ment for Work Charge 314.94 Check from Purchaser: $212,533.84 212,533.84 Additional amount need from Purchaser:$225.04 225.04 Extended Totals 213,073.82 213,073.82 REED M"CLURE A T T O R N E Y S A T L A W A PROFESSIONAL SERVICES CORPORATION IN REPLY REFER TO OUR FILE NUMBER 3600 COLUMBIA CENTER g r2 31048.00001 701 FIFTH AVENUE 206 206/23-0152 TON 98104-7081` U 3v 00 WRITER'S DIRECT LINE CIT (206) 386-7032 Enginc-.�-nvlg i ePt' January 6, 1998 VIA FAX AND MAIL: 425-255-5474 Ms. Stephanie Rary Legal Assistant WARREN, KELLOGG, BARBER, DEAN & FONTES 100 South Second Street P. O. Box 626 Renton, WA 98057 RE: Amendment to terms and conditions for City's Purchase of the LaJoy Property at 215 Burnett Avenue South in Renton Dear Ms. Rary: I am sending you a copy of the Trust Agreement for the Michael J. LaJoy and Mary Jane LaJoy Family Trust. You will see that the above-referenced property is legally described in Schedule C to that Trust Agreement. Although I haven't seen either Schedule A or B, my client informs me that this property is not included in either schedule. I am also enclosing a copy of the quit claim deed from Mary Jane LaJoy to the LaJoy Family Trust, dated April 14, 1982. The terms and conditions regarding the purchase and sale of the LaJoy property to the City, as set forth in my letter dated December 17, 1997, to the City's Property Services Supervisor, Tom Boynes, are modified as set forth below: 9. Closing of this sale shall occur no later than January 9, 1998. 11. The property is sold to the City subject to the tenancy rights, if any, of the lessee/tenant Sound Mazda. A rental payment has been paid by Sound Mazda to the LaJoys for the month of January 1998 and shall remain the Ms. Stephanie Rary 1 January 6, 1998 Page 2 property of the LaJoys, regardless of when this sale closes. Any further payment(s) owed by Sound Mazda after the date of closing shall inure to the City. 14. In the event that the City does not agree to any of these terms and conditions of the purchase and sale of this property to the City, or does not agree to any of these terms regarding closing, then the City shall promptly return the executed deed, the executed Real Estate Tax Affidavit and house keys to Michael P. Monroe, the attorney for the LaJoys in this matter. In the event that closing does not occur on or before midnight, January 9, 1998, then this purchase and sale agreement between the parties shall terminate automatically and the City shall promptly return the aforementioned items to Michael P. Monroe. I discovered that in sending my letter to Tom Boynes I inadvertently failed to enclose the keys to the house as provided in item 12 of that letter. I am enclosing a set of keys with this letter. All other terms and conditions expressed in that letter to Mr. Boynes, except as modified here, shall remain in full force and effect. Please do not hesitate to contact me should you have any questions or concerns. Very truly yours, REED McCLURE Michael P. Monroe MPM:ck:S 106LT03.CAK Enclosures cc: Mr. Tom Boynes, w/o enclosures Mary Jane and Michael LaJoy, w/o enclosures REED M"CLURE A T T O R N E Y S A T L A W A PROFESSIONAL SERVICES CORPORATION IN REPLY REFER TO OUR FILE NUMBER 3600 COLUMBIA CENTER 31048.00001 701 FIFTH AVENUE SEATTLE,WASHINGTON 98104.7081 FAX:206/223-0152 206/292-4900 WRITER'S DIRECT LINE (206) 386-7032 December 17, 1997 HAND DELIVERED Mr. Tom Boynes Property Services Supervisor Planning and Technical Services Municipal Building, 4th Floor 200 Mill Avenue South Renton, WA 98055 RE: Purchase and Sale of Property at 215 Burnett Avenue South, Renton, WA Dear Mr. Boynes: Thank you for sending me a copy of the title report concerning the above-referenced property. As we discussed on the phone, my clients are satisfied with the terms of the purchase and sale worked out between you and them in regards to the purchase price and relocation costs. Because the house was also the home in which Mary Jane LaJoy grew up, there are a small number of certain minor fixtures which the LaJoys intend to remove from the home and take with them. The list of these items is included in Attachment 1. I understand that the City is anxious to proceed with acquiring the LaJoys' property so that you can schedule the demolition of their house and implement your project. In order to assist in the closing of this sale, and to avoid any misunderstandings, I have set forth the closing terms and conditions of sale as follows below: 1. The LaJoys will provide the City with a copy of their lease with Sound Mazda, which lease has expired by its terms at the end of October, 1997. A copy of that lease is attached as Attachment 2. No new lease and no lease extension has been entered into between the LaJoys and Sound Mazda. 2. The LaJoys will provide the City with an executed statutory warranty deed for their property at 215 Burnett Avenue South. This deed is subject to easements/restrictions/and reservations of record. An executed statutory warranty deed is attached as Attachment 3. Mr. Tom Boynes December 17, 1997 Page 2 3. The LaJoys will provide the City with an executed Real Estate Tax Affidavit regarding this sale. It is attached as Attachment 4. 4. The LaJoys may remove any and all personal possessions and personal property from the property on or before December 19, 1997. Any personal possessions and personal property remaining on the property after December 19, 1997, or after the date of closing, whichever date is later, shall be considered the property of the City and may be disposed of by the City as it sees fit. 5. The LaJoys may take any or all of the items listed in the attached list of fixtures. These items will be removed from the property on or before December 19, 1997. If any of the listed items are remaining on the property after December 19, 1997, or after the date of closing, whichever date is later, then such items shall be considered the property of the City and may be disposed of by the City as it sees fit. 6. The LaJoys shall be responsible for payment of all utilities accruing to the property or related to the use of the property on or before the closing date. The LaJoys have paid the real estate taxes for this property for 1997. The City may hold back $1,000 of the purchase price for up to 21 days following the closing date in order to confirm for itself that all utilities and real estate taxes which the LaJoys are obligated by these terms to pay, have in fact been satisfied. Upon confirmation or on the 21st day following closing, whichever occurs sooner, the City shall deliver any remaining balance of this holdback funds to the LaJoys' attorney in this matter, Michael P. Monroe. 7. The City shall pay as the purchase price $210,000. A check or warrant in that amount, less any holdback as provided for in Section 6, payable to Michael J. LaJoy and Mary Jane LaJoy, shall be delivered by the City to the LaJoys' attorney in this matter, Michael P. Monroe, on the date of closing. 8. The City shall pay relocation costs to the LaJoys in the amount of $1,800.00. The LaJoys have elected to accept the scheduled payment for relocation costs. Said amount shall be made payable to the LaJoys as provided in Section 7, and shall be delivered to Michael P. Monroe on the date of closing. 9. Closing of this sale shall occur no later than December 31, 1997. Closing may occur earlier than December 31, 1997, but not prior to December 20, 1997. 10. The real property, and any and all improvements on the property including the house, are sold to the City by the LaJoys, and the City accepts this property, "as is" and "where is." The LaJoys make no representations or warranties to the City concerning the condition of their house, the condition of any other improvements on the property or the condition of the real property. Mr. Tom Boynes December 17, 1997 Page 3 11. The property is sold to the City subject to the tenancy rights, if any, of the lessee/tenant Sound Mazda. Any rental payment paid by Sound Mazda to the LaJoys for the month of December shall remain the property of the LaJoys, regardless of whether this sale closes before December 31, 1997. Any payment owed by Sound Mazda after the date of closing or December 31, 1997, whichever date is later, shall inure to the City. 12. The LaJoys will provide the City with a set of keys to the house. Enclosed with this letter and terms of closing are the keys to the house. 13. Time is of the essence regarding this purchase and sale. 14. In the event that the City does not agree to any of these terms and conditions of the purchase and sale of this property to the City, or does not agree to any of these terms regarding closing, then the City shall promptly return the executed deed to Michael P. Monroe, the attorney for the LaJoys in this matter. In the event that closing does not occur on or before midnight, December 31, 1997, then this purchase and sale agreement between the parties shall terminate automatically and the City shall promptly return the executed deed to Michael P. Monroe. I believe that these terms fairly set forth the terms and conditions of this purchase and sale as well as the terms for closing. If the City agrees to these terms and conditions, then it may indicate its acceptance by causing the payment of funds, as set forth in Sections 6, 7 and 8, to be delivered to the undersigned. I will see that my clients receive the check(s) or warrant(s). Upon delivering payment in the amounts and as provided herein, the City may then record the enclosed executed warranty deed. If any of these terms and conditions are not acceptable to the City, then of course you are not authorized to record the enclosed deed and closing shall not otherwise occur unless and until we have mutually agreed in writing as to any revised terms and conditions. Please do not hesitate to contact me should you have any questions or concerns. Very truly yours, REED McCLURE Michael P. Monroe MPM:7C 15 LT06.MER Enclosures cc: Mary Jane and Michael J. LaJoy (w/Enc.) ATTACHMENT 1 7C 15AGO8.MER ;tltl /1?Q7 jol-tAIL 7-axvi coo O-f U w Gam. , �lo/coo -G -4- A,,� 1,- -O o Ala 1W .. Offer To Purchase The City of Renton,a municipal corporation,hereinafter Buyer,agrees to buy the property legally described as: Lots 12 and 13,Block 2,Motor Line Addition to Renton according to the plat recorded in Volume 9 of Plats,page 50, records of king County,Washington; EXCEPT the easterly 6 feet thereof conveyed to the City of Renton by deed recorded under Recording Number 910201. Purchase Price: The purchase price shall be Two Hundred Thousand and N0/100 Dollars($200,000.00) Payable in US currency upon closing. Closing Date/Agent: Closing shall be as soon as possible,not later than November 30, 1997,after acceptance of this offer. Possession: Buyer shall be entitled to possession of the property upon closing. Agency: At the signing of this agreement,neither party is represented by an agent. Condition of Title: Title to the property shall be marketable at closing. Seller authorizes the escrow agent to apply for a standard form buyer's policy of title insurance, at Buyer's expense. Title shall be conveyed by Statutory Warranty Deed. Closing Costs and Prorations: Buyer shall pay all costs incurred in this transaction. Taxes for the current year shall be prorated as of the date of closing. Performance: Time is of the essence of this agreement. Agreement: On this 17th day of October, 1997,Buyer agrees to purchase this property on the above terms and conditions. City of Renton,2 Avenue S,Renton WA 98055 BY: z Thomas G.Boyds, Property Services Supervisor Acceptance: On this th day of October, 1997, Seller agrees to sell the property on the above terms and conditions,and acknowledges receipt of a copy of this agreement: Michael J. La Joy and Mary Jane La Joy,as Trustees of the Michael J.La Joy and Mary Jane La Joy Family Trust Michael J. La Joy Mary Jane La Joy `' ✓ ' Awe MPW31048.00001 Attachment 1 LIST OF FIXTURES TO BE REMOVED FROM PREMISES 1. 2 glass leaded doors (approximately 23 by 42 inches); 2. 2 French doors(approximately 26 by 79 inches); 3. 4 light ceiling shades (2 from upstairs bedroom, 1 from kitchen, and 1 from the den); 4. 3 light fixtures (2 from the living room, and 1 from the dining room); 5. 1 claw foot bathtub; 6. 4 door knobs; 7. 33 glass cabinet knobs; 8. 2 lamps (from fireplace wall). 7C 15AG08.MER ATTACHMENT 2 7C 15AGO&MER LEASE THIS LEASE, made on this ��` day of `C�ovembEf, 1992, between MARY JANE LaJOY ("Lessor") and RICHARD M. SNYDER ("Lessee") . W I T N E S S E T H: 1 . Lessor leases to Lessee the following described premises located in the City of Renton, county of King, state of Washington, to-wit: Lot 12, Block 2, Motor line addition to Renton, according to Plat recorded in Volume 9 of Plats , Page 50, Records of King County Recorder, commonly known as 2.09 Burnett Avenue South, Renton, Washington. The house and lot located at 215 Burnett Avenue South in Renton , Washington are not part of this lease. 2. The premises may be used for any lawful purpose. Lessee may make such improvements as are deemed necessary to the property so it may be used in connection with the operation of a new and used car dealership. 3. This lease shall he for a period of five years and shall commence on the 1st day of November, 1992. Upon the expiration of this lease, Lessee shall 5e granted one 5 year extension, provided Lessor and Lessee are in complete and mutual agreement as to the lease payment amounts . Failing Lessor and Lessee coming to a mutual agreement, this lease shall automatically expire. 4. Lessee agrees to pay Lessor as rental for the premises, a monthly rental of Five Hundred Twenty Five Dollars ($525.00) . Said rental amount is due and payable in advance on the first day of each calendar month of the five-year lease term at such place as Lessor may designate. 5 . Lessee shall at all times keep the premises neat and clean and in a sanitary condition. Except for reasonable wear and tear and damage by fire or unavoidable casualty, Lessee will at all times preserve said premises in as good repair as they are now. Any repairs or improvements shall be at Lessee' s sole cost and expense. 6. Lessee agrees to pay all reasonable and ordinary charges for heat. lights, water, sewer and any other utility during the term of t'12 lease. 7 . All personal property on the premises shall be at Lessee' s risk . 8. Real pro'perty taxes and assessments on the leased property shall be paid for by Lessee. Lessor will provide a copy of the tax statement, to Lessee whereupon Lessee shall forward payment of taxes to Lessor. Lessor shall provide proof of payment upon written request from Lessee. Lessor Initials Less, Initials LaJoy/Snyder Lease Page Two 8. Lessor will provide not later than sixty (60) days prior to due date, a copy of the tax statement indicating amount of taxes or assessments due. Lessee will forward payment to Lessor not later than thirty (30) days prior to date. Lessor will provide Lessee with proof of payment within thirty (30) days of receipt of said payments . 9. Lessee may not assign or sublet the leased premises without the prior written consent of the Lessor, but such assignment shall not release Lessee from 1 iabi1 ities under this lease. 1\0c W ,`\ \essur3' 1.0. The Lessor does hereby expressly reserve the right to enter upon the premises at reasonable times for the purpose of inspecting or � � making any and all repairs deemed necessary by Lessor. 11 . The Lessee, upon expiration of the term of this lease or sooner termination thereof, will promptly and peaceably quit and surrender said premises to Lessor in as good a condition as the same may be when possession thereof is delivered to the Lessee, reasonable wear and tear excepted. 12. If the Lessee shall hold over after the term of this lease without the prior written consent of the Lessor, such holder over shall he construed to be tenancy from month to month and monthly rent shall be Seven Hundred Fifty Dollars ($750.00) . 13. In the event that Lessee is adjudicated to bankrupt through bankruptcy proceedings, either voluntary or involuntary, or in the event a receivership in equity or other+.vise shall in any judicial action or proceedings against said Lessee, its successors or assigns , 5e appointed to take charge of said premises , or the business conducted thereon , and shall remain in charge of said premises for a period in excess of thirty (30) days , said Lessor, upon the happening of said event, shall have the right, at its option, without notice, to immediately terminate this lease and enter into the premises. and remove all person therefrom. Should the Lessee' s interest herein he attached or levied upon and remain under attachment or levy for more than thirty (30) days , by reason of any act. or deed of said Lessee, Lessor shall have the right, at its option, without notice, to immediat ly terminate this lease. Lessor Initials L2ssp . Initials LaJoy/Snyder Lease Page .Three 14. Lessee may, at its sole cost anI expense, make any alterations , additions or changes in or about the premises necessary to better facilitate the operation of Lessee' s business. 15. Lessee agrees to hold harmless the Lessor and Lessor' s agents from all damages of every kind and nature whatsoever that may be claimed or accrue by reason of any accident in or about the leased premises and areas adjacent thereto or caused by the acts or neglect of the Lessee or any agent of the Lessee. It is agreed that neither the Lessor nor the Lessor's agents shall be liable for the death or injury to any person in or about the premises or for the loss of or damage to any property of the Lessee. Lessee agrees to provide, pay for and maintain a policy or policies of public liability insurance in standard form insuring Lessor and Lessee with a minimum liability of $300,000 and $500,000 in respect to bodily injury or death , and $50,000 in respect to property damage. Said insurance policy shall name Lessor as the insured. 16. If the whole of the premises leased shall be taken by any public authority under the power of eminent domain, then the term of this lease shall cease as V---f the day possession is taken by such public authority and the rent :;x:,11 be paid up to that date. If only a part of the leased premises shall he taken under eminent domain and the remainder of the leased premises not so taken can he made tenantable for purposes for which Lessee has been using the premises, then this lease shall continue in full force and effect as to the remainder of said premises and all of the terms and conditions contained herein shall continue in effect, except that the minimum rent shall be reduced in proportion to the amount of the premises taken, and Lessor, at its sole cost and expense, shall make all necessary repairs and alterations to the leased premises required by such taking, providing that the condemnation award is sufficient to pay for such repairs and alterations . If the award is insufficient and Lessor chooses not to make such repairs and alterations, then the term of this lease shall cease as of the day possession is taken by such plahlic authority. All damages awarded for such taking shall belong to and he the property of Lessor whether such damages shall be awarded as compensation for diminution in the value of the leasehold or to the fee of the demised premises , but Lessor shall not he entitled to any portion of the award made to Lessee for cost of removal of stock and fixtures and loss of use. The term "eminent domain" , as used in this paragraph, shall include the exercise of any similar governmental power and any purchase or other acquisition in lieu of condemnation. 1/1 /�.J Lessor Initials Lesseq Initials taw� LaJoy/Snyder Lease Page Four i 17. IF any rental or other sums payable by the Lessee to the Lessor shall be and remain unpaid for more than ten (10) days after same are due--ad- payable, or if the Lessee shall violate or default in the performance of any of the other covenants, agreements , stipulations or conditions herein, and such violation or default shall continue for a period of thirty (30) days after written notice 5y the Lessor or Lessor' s agent to the Lessee of such violation or default, then, without prejudice to any other remedies which the Lessor might have,it shall be optional for the Lessor to declare this lease forfeited and the said term ended, and to reenter the demised premises , with or without proces of law, using such force as may be necessary to remove all persons or chattels therefrom and the Lessor shall not be liable for damages by reason of such reentry or forfeiture, but notwithstanding such reentry by the Lessor, the liahility of the Lessee for the rent provided for herein shall not be relinquished or extinguished for the balance of the term of the lease, and Lessee covenants and agrees to make good to the Lessor any deficiency arising from a reentry and reletting of the demised premises at a lesser rental then herein reserved, and Lessee shall pay such deficiencies each month as the amount thereof is ascertained by the Lessor. In cases of such reentry, the Lessor may relet the demised premises upon such terms as to it seem fit and for a term which may expire neither before or after the expiration of this lease. It is further understood that the Lessee will pay, in addition to the rentals and other sums agreed to he paid hereunder, such additional sums as the court may adjudge reasonable as attorneys ' fees in any suit or action instituted by the *Lessor to enforce the provisions of this lease,or the collection of the rentals due the Lessor hereunder. � ---� - Lessor Initials- Lessee I tials E LaJoy/Snyder Lease Page Five 18. In the event Lessor shall desire to sell the leased premises, Lessor sh-3-11 first offer it to the Lessee as follows: the Lessor shall serve notice upon Lessee indicating that Lessor has a bona fide offer for the propa-rty. The disposition of the property must be made within ninety (90) days following the offer to the Lessee. IN WITNESS WHEREOF, the parties have executed this lease the day and year first above written. LESSOR: LESSEE: By. MarJane o - �L, o --- --- Y J Y Rich Sn er r LaJoy/Snyder Lease Page Six 1 This is to certify .that on — _ 1992, before me, the undersigned Notary Public, personally appeared MARY JANE LaJOY, . to me known to be one -.of—the principals described in and who executed the foregoing Lease, and acknowledged to me that she signed and sealed the same as her free and voluntary act and deed, for the uses and purposes therein mentioned. IN WITNESS WHEREOF, I have hereunto set my hand and affixed my seal the day and year first above written. Notary Public in and for the — State of Residing at --- — iMy commission expires: This is to certify that on V e _� 1992, before me, the undersigned Notary Public, personally appeared RICHARD M. SNYDER, to me known to be one of the principals described in and who executed the foregoing Lease, and acknowledged to me that he signed and sealed the same as his free and voluntary act and deed , for the uses and purposes therein mentioned. IT WITNESS WHEREOF, I have hereunto set my hand and affixed my seal the day and year first above written. Notark Public in and for the State of Residing at �� rc --- My commission_ xpi es: r LaJoy/Snyder Lease Page Seven The owner (Lessor) hereby agrees to pay to Benson-America Realty, Inc. , the broker in this transaction, five percent (5%) of total gross lease. . Said amount is equivalent to three month's rent, payable in full . Full payment is due not later than ninety (90) days from signing of lease. I hereby agree to pay Benson-America Realty, Inc, as agent for services rendered, One Thousand Five Hundred Seventy Five Dollars ($1 ,575.00) , by personal check, upon mutual acceptance and signature of this lease. OWNER/LESSOR: BROKER: BENSON-AMERICA REALTY, INC. By: ---- Mary a aJoy William L. Robbins , Sr. vfte 11440 ATTACHMENT 3 7C15AGO8.MER *40ve *400 Cushman &Wakefield of Washington, Inc. w��HD& 700 Fifth Avenue, Suite 2700 Seattle,WA 98104-5027 Tel: (206) 521-0243 Improving your place Fax: (206) 521-0299 in the world. October 8, 1997 Mr. Thomas G. Boyns Property Supervisor City of Renton Planning/Building/Public Works Department 200 Mill Avenue South Renton, WA 98055 RE: LaJoy Appraisal Dear Mr. Boyns: This letter addresses your important point regarding the highest and best use of the La Joy property. We appraised the La Joy property under two uses - one as a single- family residence and the other as a commercial building. Two approaches were used in valuing the property as a commercial building. These included the Sales Comparison Approach and the Income Capitalization Approach, with values after the reflection of deferred maintenance of $195,000 and $170,000 respectively. For the property as a single-family residence, only one approach was used - the Sales Comparison Approach. The value resulting from this approach was $200,000. As the value for the property in single family use was higher than the values for commercial use, the highest and best use is therefore single family occupancy. We agree that the highest and best use principle applies here, and revise our final market value for the above referenced property in its fee simple estate, as of July 3, 1997, to $200,000. Please feel free to call if we may be of further assistance. Yours sincerely, CUSHMAN & WAKEFIELD OF WASHINGTON, INC. Vale a A. Foster, MAI Kenneth A. Barnes, MAI Senior Appraiser Director, Manager Valuation Advisory Services Valuation Advisory Services VF:an W CITY OF RENTON CITY OF RENTON PLANNING/BUILDING/PUBLIC WORKS MAR 1 6 1998 MEMORANDUM RECEIVED CITY CLERK'S OFFICE DATE: March 16, 1998 TO: Marilyn Petersen, City Clerk FROM: Tom Boyns, Property Services Supervisor, 6209 SUBJECT: Purchase of the LaJoy property, 215 Burnett Ave S Transmittal of File The accompanying documentation comprises the bulk of our file concerning the acquisition of this property for the Transit Hub "T" project. If you require further documentation in this matter, the City Attorney should be able to provide what you need. r ` ., CITYF RENTON Office of the City Attorney Jesse Tanner,Mayor Lawrence J.Warren February 4, 1998 Mr. Tom Boyns Property Services Supervisor City of Renton 200 Mill Avenue South Renton WA 98055 Re: LaJoy Purchase Dear Tom: Enclosed is the revised Purchaser's Closing Statement for the purchase of the LaJoy property by the City of Renton. As you can see,the price of recording was less than anticipated, however the price of the title insurance was actually$838.43 instead of the price of$314.94 that was in the preliminary commitment. Therefore', Pacific Northwest Title Company needs an additional $223.04 for payment of the title insurance premium. As for the difference in recording fees, enclosed is a check made payable to the City of Renton in the amount of$10.45. Please forward a check to my office in' the amount of$223.04 made payable to Warren, Kellogg, Barber, Dean&Fontes,`P.S., Trust Account for the difference in title insurance premiums. I have enclosed a copy of the invoice for.your records. Also enclosed is'a check made payable to the City of Renton in the amount of$655.17, which represents the amounts paid by the City of Renton for 1997 Real Property Taxes on the Adams and Picini parcels. 'Sound Mazda was responsible for payment of these taxes, and although it was not reflected on thepreliminary commitment or in the records of the King County Assessor's Office,-they did pay the taxes by the end of October. Thank you for your assistance. Please give me a call if you have any questions.- Very truly yours, Stephanie Rary aLegal As to David M Dean Enc ' �. .1 ,ti' ✓ h,9y } Y r < r,. I-\ z r ` t t �*,.. h.l .? Post'Office Box 626- 100 S.'2nd Street Renton,Washingtod98057 - (206)255=8678` ,®This paper contains 50%recycled material,20%post consumer REVISED PURCHASER'S REAL ESTATE TRANSACTION CLOSING STATEMENT LaJoy to City of Renton Property Address: 215 Burnett Avenue South Renton, Washington 98058 Closing Date: January 9, 1998 DESCRIPTION CHARGES CREDITS Sales Price 210,000.00 Relocation costs 1,800.00 Escrow Fee 400.00 Recording Fees 8.45 Title Insurance Premium Fee 838.43 Payment for Work Charge 290.00 Check from Purchaser: $212,533.84 212,533.84 Additional amount need from Purchaser:$223.04 1 223.04 Extended Totals 213,046.88 213,046.88 PACKC NORTH-IW 'T TITLE ,r,,v Company of Washington, Inc. 1201 Third Avenue A Suite 3800 • Seattle,VJA 98101-3055 (206) 622-1040 & Fax: (206)343-1358 & http://pnwt.com I N V O I C E Number: 314572 - Customer number: 561975 Invoice date: 011298 Due date: 020798 Sold to: b Warren & Kellogg 100 S. 2nd Renton, WA 98056 P S 8t, - ------------------------------------------------------------------------- Salesperson: Unit 12 - Sharkey/Cardenas ------------------------------------------------------------------------- Description Quantity Price Amount --------------------------------------- -------- ---------- ------------- ATTN: STEPHANIE RARY RE: LAJOY FAMILY TRUST ALTA Owners Policy $210, 000 795 . 00 T Work charge 290 . 00- T Statutory Warranty Deed 9801120426 8 . 45 KC excise tax affidavit processing fee 2 . 00 County sales tax 43 . 43 ------------- Total amount due $558 . 88 'r►✓ wr+ � Q7 g N g p N CV o d m Ln C\j C\J LU U Z co D Z � O m OLL !- d1 Z Z 7 Z O LU Q O W a O O Z _ w F _ Z cc ro O ¢ z _ o_ (L a < - m O O J W W W cb I • Y U U Y O Z OZ = W A z _ _ w — 2 1` Z OC W ^a Q r V N o [�- o i .+ z .. u O W9 _ Lz x O Ln Ul o- ti R► :z) Z r. LU 0 O a UZ O ova Z LL uj OU) o ,--• 03 cr Z o 0 cr R X 4 ZZ .a LOLx r1 ZZ m CO- . cc 03 C9 Ir 2 ccF- [Q Z Z O°0 O w O Z Oaoo W w Oa'o � .1 aLLo� o cc O �3o Z o O .-8 OgVF° W Ln pgaw00 W Ln OCQFw� F. nj �Q wO ru WNyHZ F a CO»V1 x •� QZ2a , '= mpo3 • moa°� O t6r�wz acwz • CMazV7O O Q' CD LLJ j W Z J O RJ J 02 t 1 ti � y C`� tL U) v O Y o N Z o Z O LLA O LU cc oQ f a0 0 W • a a � REVISED PURCHASER'S REAL ESTATE TRANSACTION CLOSING STATEMENT LaJoy to City of Renton Property Address: 215 Burnett Avenue South Renton, Washington 98058 Closing Date: January 9, 1998 DESCRIPTION I CHARGES CREDITS [Sales Price 210,000.00 FRelocation costs 1,800.00 Escrow Fee 400.00 FRecording Fees 10.45 Title Insurance Premium Fee 863.37 Pa meat for Work Charge 314.94 Check from Purchaser: $212,533.84 212,533.84 Additional amount need from Purchaser:$225.04 225.04 Extended Totals 213,073.82 213,0733-82JI Cj � � 60 v A R CITYNwOF REN ON TMALOffice of the City Attorney Jesse Tanner,Mayor Lawrence J.Warren MEMORANDUM ; .- t d/ O� 301997 To: Renton City Council From: Lawrence J. Warren, City Attorney Date: October 29, 1997 Subject: Property Acquisitions for Parking Associated with Transit Center This memo serves as an update on the progress of the Administration in acquiring three parcels of property to serve as parking associated with the Transit Center. The three parcels have been identified as the Adams, Picini and LaJoy parcels.` The City has formally offered and the owners accepted the City's offers to purchase the Adams and Picini parcels for$50,000.00 cash net each. This is the exact amount for which the properties were appraised. The City has also made an offer that has been orally accepted on the LaJoy property for $200,000.00, again the amount of the appraisal. We have not received a signed acceptance document as of this date, although that is expected shortly. I know that these acquisitions have been previously discussed with the Council, and so this memo is just an update. The Adams and Picini parcels will be closed, perhaps by the time you receive this memo. The LaJoy property will take a week or so longer. If you have any questions please feel free to contact me. C Lawrence J. arren LJW:as. cc: Mayor Jesse Tanner Gregg Zimmerman � andra Meyer om Boyns A8:135.21. Post Office Box 626 - 100 S. 2nd Street- Renton, Washington 98057 - (206)255-8678 ®This paper contains 50%recycled material,20%post consumer 14W NNW CITY OF RENTON PLANNINGBUILDING/PUBLIC WORKS MEMORANDUM DATE: November'), 1997 TO: Randy Corman, Chair Transportation Committee VIA: Jesse Tanner, Mayor FROM: Gregg Zimmerman,Administrator STAFF CONTACT: Shawna Mulhall, 5546 SUBJECT: STATUS REPORT - INFORMATION ONLY Renton Transit Hub, Transit "T" Project Property Acquisitions The purpose of this communication is to keep the City Council informed about the status of this project. This is a highly visible project associated with the Transit Center. The Transit Center is expected to be built north of the Ford Building, but it will not be clear until we are designing the Transit Center if it should go immediately behind the Ford Building or on the LaJoy/Picini/Adams property. Depending on economic development needs, it may be more appropriate to put the parking immediately adjacent to the Ford Building and shifting the Transit Center to the LaJoy/Picini/Adams property.-Purchase of this property-allows fuil.development of Transit Center design and parking mitigation-options to determine which configuration best suits City needs.- The eeds.The Transportation Division is expecting to purchase this property with Downtown Transit Access funds. This allows for either developing that site as the Transit Center or as mitigating parking, depending on which layout is best. According to procedures an independent fee appraisal has been ordered and reviewed prior to making an offer to purchase the property. The appraisal has been received and reviewed. The appraisal will set the offering price for the purchase of the property. November'), 1997 Page 2 The appraisal indicated the fair market value of the parcels to be as follows: LaJoy Property $200,000 [includes a house] Picini Property $ 50,000 [vacant land] Adams Property $ 50,000 [vacant land] In order to apply for federal and state matching funds, relocation benefits must be offered to the owners of the property including the house. Funding has been budgeted and is available for these acquisitions. CITY OF RENTON PLANNING/BUILDING/PUBLIC WORKS MEMORANDUM DATE: September 2, 1997 T0: Larry Warren FROM: Sandra Ma,� SUBJECT: Transit hub property acquisition This memo is a follow up to the 8/28/97 memo you received recently. After rereading that memo it appears that further clarification of the proposed funding arrangement would make your review much more expeditious. The Transportation Improvement Program (TIP) identifies a "Downtown Transit Access Program". This Program has been approved by the Renton City Council and is described as follows: "Construct transit lanes, improve turning Radii, turnarounds, Queue bypasses, pedestrian and bicycle improvements,'signing, channeiization and signal improvements to provide transit access to the Renton Urban Center". (See attachment"X The current proposal is for the Transportation Systems Division to purchase the Lajoy(anal adjacent) property (Scheme 2, attached, designated in Blue) with the idea of potentially "swapping" it for the City owned property (designated in yellow) directly to the South of the LaJoy property. The value of the LaJoy property is$300,000. The value of the City owned property is $200,000.However,the City would gain at least another$100,000 in improvements in that the "cut through" street and transit hub would be constructed(see Tables 1 and 2). Finding/Question?: Based upon our phone conversation today, you seem to think that the City can legally use the Downtown Transit Access Program fund (approved TIP) to Purchase the LaJoy (and adjacent properties) and then"swap"this property for the City owned property where the "cut through"would be constructed. Do you still believe that this is true in light of this information? (I personally don't see this as a problem.) Also, is there anything that we have to "do" to formalize this process, beyond, going to the Transportation Committee to provide them with this information? i I - I I '�1• .� ) I I i ry l 'I rp- 711 II _ .ILI { I I I71 va III �{I _ ; ! ' _� ,�• �i C T C C E C G— C7a �^. Q O O _ y Q C O > C 3 O C C N O C y C O C O Z i,4 LL Q y C O C U O d O y C <C 2 >, T ^ ?C O O U _ C m O y O N N T�` O U - _ y C O - C +l ` 3 cc — = �! C C U C TC c- C U C G ca cC r .r V1 E L i�A m H C U 3 C Q m C Q C O` 47 + C 3 - - + CLU C O0 0 C vmi G0 Z y U 3 C N C C ._ U U G C a - m = C C h C C C y U Lu y n .0 Q o C. m Q y y _ C �...C M v V U U Q G. E-' c4 U � C c cas C Q m C Q G_ C n � c 3 0— _ � c O C C Y G C GY C C E U V p Q h C v C cs O m C cII C. C >. C C C C Z C CaGyI C C._ (V t ... LL O` U 40:). m C Q7 dl C.O M m ? C_ C_ O U Z C C C iR ? C. O V C7 pC O H C Q N �_ C C N C V p L }-- fA O rH C'N C O C LUl iH C C. fQ L L' C N 4�. C Co C. � m X � o QS E � p acl � � C3 CL � `o3mc � m ° m °6 � CCm C. L Q = C 3 V 0 C203 m m d U CL C. > t_1 U � QQ f4 O y m 0 C3 p m O m C _. Cn O O p y O O C m TJ O O C v7 >. E y�j p L a0 C �" D p CQ p C = p y C c CV � Q L N C C.U C*la 0 R G iss C y C mO y O C U � C. C- t- m e LL. c G Cz Table 2 Transit Center Funding Package Transit Center Funding Source Level of Contribution King County/Metro $840,000 State Grant $1,200,000 Federal Grant $80,000 City of Renton $10,000 Total=$2,130,000 Transit Center Budget Activity Cast Pre-Design/Planning $130,000 Design $300,000 Co ntruction Contract (see note below) 'S 1,550,000 Construction Administration $150,000 Total=$2,130,000 To include construction of City parking(at at 5200,000, which would leave 51,350,000 for transit center construction. Additional payments to sell property to Metro would have to be subtracted from this line item. WASHINGTON APPRAISAL SERVICES, INC. 10222 N.E. 10th STREET- BELLEVUE,WA 98004-4289- (206)453-1456 August 8, 1997 valff% City of Renton lag kl.IG 1 S RECD 200 Mill Avenue South CITY OF RENTON Renton, WA 98055 PUBLIC WORKS CUSTOMER SERVICES Attn: Thomas C. Boyns Property Services Supervisor Re: Review of Adams, Picini&La Joy Properties Appraisal Renton/Metro Transit HUB"T" WAS 97-120 Dear Mr. Boyns: Per your request, I have reviewed the appraisal, by Valerie A. Foster, MAI& Kenneth A. Barnes, MAI, of the above described property. Extent of the Review Process Conducted: 1. The appraisal was reviewed in accordance with the Standards of Professiorx- Practice of the Appraisal Institute and the Uniform Standards of Professional Practice: of the App:aisal Standards Board. 2. The parcels were personally inspected by the review appraiser. 3. The parcel reports were reviewed to determine the degree of adherencc to the above standards as to format and content. 4. The parcel reports were reviewed as to the adequacy of the analysis, methodol.ogy and reasoning. All mathematical calculations were proofed. 5. All comparable sales data were inspected to enable the reviewer to det.e:rm-Me flhe validity and accuracy of the analysis and adjustments by the appraiser. Identification of Property Appraised: The Subject properties are located at 215 - 233 Burnett Avenue South, Renton, King County, Washington. Real Property Interest Being Appraised: The property rights appraised are the fee simple interest. Effective Date of Appraisal: The appraisal's effective date of value is July 3, 1997. Date of Review: The subject properties and comparables were inspected by the review appraiser on August 5, 1997 which is the effective date of review. The report is a complete appraisal presented in a self contained report, in accordance with Standards Rule 2-2b. The data utilized were current in terms of time, and the appraiser's analysis were relevant and appropriate with the exception of the following. The land valuation is considered weak. Comparable# 1 is a listing. Comparables#2 and # 6 are sales to a condemning authority and were not exposed to the market. Comparable # 5 is an assemblage with prices ranging from approximately$8.00 per square foot to $23.00 per square foot. In the highest and best use analysis, the subject's improvements are thought to constitute an interim use until the market improves to support a higher and better use, at which time the Subject's four, adjoining tax lots would be assembled for development with a mutli-family project. During the interim period, the improvements are to be used for a residential or commercial use. The Subject is improved with an older, single-family residence suffering from significant deferred maintenance. In order to utilize the Subject's improvements as an interim use, the deferred maintenance must be cured. The cost to cure for a residential use is estimated by the appraisers at $16,000. This includes the cost of a new roof, paint, and repairing ceiling and walls from water Wadiin"Appra W Saviom Im WAS.97-120 -2- 'trro *rrry damage. To utilize the improvements for a commercial interim use, it is estimated an additional $11,000 would be needed for remodeling costs. In view of the magnitude of the cost, a contractors estimate should have been obtained. As of the date of the appraisal,the interim improvements are valued at $60,000. Thus, it is assumed that a typical buyer, in addition to the cost of the land, would be willing to purchase the improvement's interim contribution to the land for$60,000,plus an additional cost of$16,000 to cure deferred maintenance for a residential use and a total of$27,000 for a commercial use. According to The Dictionary of Real Estate Appraisal, an interim use is defined as: "The temporary use to which a site or improvved property is put until it is ready to he put to its highest and best use." Typically, an interim use such as the subject's would not exceed a period of 5-10 years, and in most cases, an interim period in excess five years is thought to be somewhat speculative. The length of the subject's interim period is not discussed in the report. Typically,the income generated from interim improvements is thought to have a higher degree of risk. An example of risk would be the difficulty of finding shorter term tenants, and the loss of rental income due to tenant relocation towards the end of the interim period. After considering this risk and the amount of rental income that could be generated over the interim period, discounted to present worth, it is thought unlikely that the subject building is capable of generating the income needed to support the report's interim value conclusion. If we assume a land value of$130,000, as in the report, the net operating income ($12,112) does not even support the land investment ($130,000 x 10%= $13,000). After consideration of the above, it is the opinion of the review appraiser that a typical buyer would not be willing to purchase,repair and remodel the subject interim improvements, but rather, perceive any value attributed to this structure as being offset by the cost of demolition and removal at the time of redevelopment. In the Sales Comparison Approach to value, which held the most weight in valuing the subject's improvements, the appraisers used sales of properties with considerably longer economic lives and for the most part are not comparable. Since the subject building is an interim use, with limited economic life and utility,the Income Capitalization Approach utilizing overall rates is not appropriate as this form of capitalization is in perpetuity. With one exception, none of the rental comparables are comparable. W-a -App Wial Services,E-. W.A.S.97-120 -3- AW ter+ The zoning designations on land sale #1 and house sales #3 & #4 were reported incorrectly. According to City of Renton zoning maps, the above sales are all zoned CD. Also, the correct address of land sale #3 is 103 Logan Avenue South rather than 120. The report did not include photographs of land sales, which would be helpful to the land evaluation. Ir conclusion, it is my opinion that the appraisers should revise the report's final value conclusion to exclude any significant contribution attributed to the subject's interim improvements. If I can be of further service, please do not hesitate to call on me. Sincerely, Garrett W aldner, MAI wadugtm ApMiW SaviDm bic. WAS.97.120 -4- IN %ve CERTIFICATE OF REVIEW I, Garrett W. Waldner, MAI, SRA, certify that, to the best of my knowledge and belief. the facts and data reported by the review appraiser and used in this report are true and correct. the reported analyses,opinions, and conclusions in this review report are limited only by the assumptions and limiting conditions stated in this review report, and are my personal, unbiased professional analysis, opinions, and conclusions. I have no present or prospective interest in the property that is the subject of this report, and I have no personal interest or bias with respect to the parties involved. - my compensation is not contingent on an action or event resulting from the analyses, opinions, or conclusions in, or the use of, this review report. - my analysis, opinion, and conclusions were developed, and this report has been prepared, in conformity with the Uniform Standards of Professional Appraisal Practice(USPAP) as adopted by the Appraisal Standards Board of the Appraisal Foundation, and with the requirements of the Code of Professional Ethics and the Standards of Professional Practice of the Appraisal Institute. - I did personally inspect the subject property of the report under review. - No one provided significant professional assistance in developing the analysis or conclusions in this report. - I have the required knowledge and experience necessary to complete this review competently. - the use of this report is subject to the requirements of the Appraisal Institute relating to review by its duly authorized representatives. - as of the date of this report, I have completed the requirements of the continuing education program of the Appraisal Institute. Garrett W. w4ner, MAI, SRA neral Appraiser WA-LD-NG-W600QW w Avvr."Saviw,nom. WA&97-120 -s PROPERTY ACQUISITION OR SALE CHECKLIST PERMANENT FILE DOCUMENTATION FOR: CITY CLERK DIVISION DATE: �' v STAFF NAME & EXTENSION NUMBER: 4 i Jir7� City is buyer or seller? Number of acres or S.F. If City is seller, list approx. date of original acquisition by City: Property address_ `�/ t rw_yA H Nearest cross streets: `4 Date of Council/Executive approval: Purpose of acquisition or sale: Other file numbers, document names or key words for cross- referenci g: � , f, ^�tKi�1,d � un L o_ rUw1 33 �$ K.C. Parcel I.D#(s). '?g3q� — S"0 Documents to forward to City Clerk Divn. check off items- or mark N/A Document Original Copy Purchase and Sale Agreement Addendum to Purchase & Sale Agreement Owner's Title Policy Correspondence for Permanent File/Minutes _Closing Statement _ -Recordpd Deed (orig. only) -Other CWLf I W-te 4 Wyl V:bY 'A&b)O _K-Otherouia DOCUMENTS MAY BE SUBMITTED TO CC OFFICE IN PHASES, AS NECESSARY. CHECKLIST ORIGINAL MUST BE COMPLETED AND SUBMITTED TO CC OFFICE BY COMPLETION OF TRANSACTION. ------------------------------------------------------------------------------------------------------------- For City Clerk Division Use: Add to file: Copy of Minutes, Ordinances, &Resolutions applicable Index cross references as necessary FILE NO. AC- saw ..r► I IIN 0128 PAGE 000S4B Iq'�I�IUI �I KInaCOl1NTYt�38 CHICAGO TITLE UD IIII UQ WHEN RECORDED REIUR�1 TO 9.00 BURNEIT STATION LLC 31316 FURHAM AVE.E.,#100 SEATTLE,WASHINGTON 98102 E1733689 01/20/2000 10:10 KING COUNTY, UA SALE $350,010.0E PAGE 001 OF 002 OCHICAGO TITLE INSURANCE COMPANY STATUTORY WARRANTY DEED 542581 Dated: January 28, 2000 THE GRANTOR CITY OF RENTON,A MUNICIPAL CORPORATION for and in consideration of 0o TEN DOLLARS A.N'D OTHER GOOD AND VALUABLE CONSIDERATION Ln 0 0 C=) in hand paid,conveys and warrants to m BURNETT STATION LLC,A WASHINGTON LIMITED LIABILITY COMPANY N O C= the following described real estate situated in the County of KING State of Washington: C= Tax Account Number(s): 783930-0305-08, 783930-0315-06 PARCEL A: LOTS 16 AND 17, BLOCK 33, SMITHER'S FIRST ADDITION TO THE TOWN OF RENTON, ACCORDING TO THE PLAT THEREOF, RECORDED IN VOLUME 9 OF PLATS, PAGE(S) 76, IN KING COUNTY, WASHINGTON; EXCEPT THAT PORTION OF SAID LOT 16 CONVEYED TO THE CITY OF RENTON FOR STREET, ALLEY AND ANY OTHER PUBLIC USES AND PURPOSES BY DEED RECORDED UNDER RECORDING NUMBER 7401170345. PARCEL B: LOTS 18 THROUGH 21, INCLUSIVE, BLOCK 33, SMITHER'S FIRST ADDITION TO THE TOWN OF RENTON, ACCORDING TO THE PLAT THEREOF, RECORDED IN VOLUME 9 OF PLATS, PAGE(S) 76, IN KING COUNTY, WASHINGTON. SUBJECT TO: NONE I i LE INS.COQ REF# CITY OF RENTON, a municipal corporation ��� RS: STATE OF WASHINGTON COUNTY OF KING '- ON THIS � DAY OF Z&deGK✓-$ / 1999, BEFORE ME, THE UNDERSIGNED, A NOTARY PUBLIC IN AND FOR THE STATE OF WASHINGTON, DULY COMM SSIONED AND SWORN, PERSONALLY APPEARED "CA note,- TO ME KNOWN TO BE THE l+Q C N THAT EXECUTED THE FOREG0114G INSTRUMENT, AND ACKNOWLEDGED THE SAID IN TRUMENT TO BE THE FREE AND VOLUNTARY ACT AND DEED OF SAID COR=QR FOR THE USES AND PURPOSES THEREIN MENTIONED, AND ON OATH STATE THAT hS WAS AUTHORIZED TO EXECUTE THE SAID INSTRUMENT AND THAT THE SEAL AFFIXED THERETO (IF ANY) IS THE CORPORATE SEAL OF SAID CORPORATION. IN WITNESS WHEREOF, I HAVE HEREUNTO SET MY HAND AND AFFIXED BY OFFICIAL SEAL THE DAY AND YEAR FIRST ABOVE WRITTEN. :PStACE Y SIGNATURE LG u f2'P%C �J �i('R rMt-- i g y m m Of PRINTED NAME: 7 h f NOTARY PUBLIC IN AND FORTHESTATE OF WASHINGTON,j RESIDING AT Cp�C��c�I�y� 6�Jw f) a- , 03 .•' MY COMMISSION EXPIRES / [p— � ly ( ,�� 00 0 0 0 m N O O O 0 N 1*40 PL. *400p, __ti FE EXCISE TAX AFFIDAVIT This form is your receipt when pLR stamped by cashier CHAPTER 82.45 RCW-CHAPTER 458-61 WAC For Use at County Treasurer's Office -fUse Form No.84-001b for Reporting Transfers of Controlling Interest of Entity Ownership to the Department of Revenue) THIS AFFIDAVIT WILL NOT BE ACCEPTED UNLESS ALL AREAS 1-7 ARE FULLY COMPLETED 1 Name CITY OF RENTON,A MUNICIPAL CORPORATION 2 Name BUI2NEIT STATION LLC,A WASHINGTON LIMITED R E G B LIABILITY COMPANY R U A L A Y N L Street N E Street 3316 FURHAM AVE.E., #100 T E T R R R City/State/Zip E City/State/"Lip SEATTLE,WA 98102 3 ADDRESS TO SEND ALL PROPERTY RELATED CORRESPONDENCE ALL TAX PARCEL NUMBERS COUNTY TREASURER PLACE ASSESSED VALUE IF TAX EXEMPT Name SEE GRANTEE ABOVE 789390-0305-08 Street 789390-0315-06 City/State/Zip LEVY CODE: 2110 4 LEGAL DESCRIPTION OF PROPERTY SITUATED IN ❑ UNINCORPORATED COUNTY I OR IN CITY OF u>~nrrON Street Address(if property is improved): VACANT LAND,RENTON,WASHINGTON LEGAL DESCRIPTION ATTACHED HERETO AS EXHIBIT"A"AND BY THIS REFERENCE MADE A PART HEREOF AS IF FULLY INCORPORATED HEREIN. ' S 1 Is this property currently: YES NO 6 Description of tangible personal r to sale(furniture,appliances,etc \ operty if included Classified or designated as forest land? ❑ XChapter 84.33 RCW Classified as current use landopen space,farm ❑ ix and agricultural,or timber)? hapter 84.34 RCW Exempt from property tax as a non profit C3organization?Chapter 84.36 RCW If exemption claimed,list WAC number and explanation. \ Seller's exempt Reg.NO. WAC NO.(Sec/Sub) WAC 458-61-420 J` Receiving special valuation"historic ❑ �{ Explanation: SALE BY MUNICIPAL CORPORATION Property. Chapter 84.26 RGW Property Type: _X land only ❑ land with new building ❑ land with previously used building ❑ land with mobile home Type of Document STATUTORY WARRANTY DEED ❑ timber only ❑ building only Date of Document January 2$, 2800 \ Property Use: ❑Apt.(4+unit) ❑ residential ❑ timber ❑ agricultural commercial/industrial C3 other Gross Sale Price $ 350,000.00 Personal Property(deduct) $ J 8 1 (1)NOTICE OF CONTINUANCE(RCW 84.33 OR RCW 84.34) Taxable Sale Price $ -0- If the new owner(s)of land that is classified or designated as current use or Excise Tax: State $ forest land wish to continue the classification or designation of such land,the Local $ new owner(s)must sign below. If the new owner(s)do not desire to continue such classifcation or designation,all compensation or additional tax calculated Delinquent Interest: State $ pursuant to RCW 84.33.120 and 140 or RCW 84.34.108 shall be due and Local $ payable by the seller or transferor at the time of sale.The county assessor must determine if the land transferred qualifies to continue classification or Delinquent Penalty: State $ designation and must so indicate below. Signatures do not necessarily mean Local $ the land will remain in classification or designation.If it no longer qualifies, it will be removed and the compensating taxes will be applied. Total Due $ -0- All new owners must sign. This land ❑ does ❑ does not qualify for continuance. A MINIMUM OF$2.00 IS DUE AS A PROCESSING FEE AND TAX 7 AFFIDAVIT Date: I certifyhunder penalty of perjury under the laws of the state of Was ington that the foregoing is true and correct(See last DEPUTYASSESSOR page of this form) CHICAGO TITLE INSURANCE COMPANY Signature of(2)NOTICE OF COMPLIANCE(Chapter 84.26 RCW) g d ent If the new owner(s)of property with special valuation as historic property wish Grantor/Ag ' .d to continue this special valuation the new owner(s)must sign below.If the new Name(print Susan 0. Stevens owner(s)do not desire to continue such special valuation,all additional tax Date and Place of Signing: 1..28-0(1--, Seattle, WA calculated pursuant to Chapter 84.26 RCW,shall be due and payable by the seller or transferor at the time of sale. Signature of f' (3)OWNER(S)SIGNATURE Grantee/Agent` Name(print) Date and Place of Signine L PERJURY: Perjury is a class C felony which is punishable by imprisonment in the state correctional institution for a maximum term of not jrno than five years,or by a fine in an amount fixed by the court of not more than five thousand dollars tee nnn oth imprisonment and fine (RCW 9A.20.020(1C)). REV 840001a(6-16-95)(PD 6-19-95) E1733689 01/28/2000 -00:10 TAXPAYER KING COUNTY, W2 00 s PAGE 001 OF 002 SALE $380,000.00 NNO' FINAL VAWO CHICAGO TITLE INSURANCE COMPANY SELLER'S SETTLEMENT STATEMENT PAGE: 01 ESCROW NUMBER: 00633-000542581-001 ORDER NUMBER: 00633-000542581 CLOSING DATE: 01/28/00 CLOSER: SUE STEVENS BUYER: BURNETT STATION LLC SELLER: CITY OF RENTON PROPERTY: VACANT LAND, RENTON, WASHINGTON CHARGE SELLER CREDIT SELLER Sales Price $ $ 350,000.00 Settlement or Closing Fee To CHICAGO TITLE 651.60 Title Insurance To CHICAGO TITLE 1,100.12 COURIER/DELIVERY FEE TO CHICAGO TITLE 38.01 Funds Due To Seller At Closing 348,210.27 -------------- -------------- TOTALS $ 350, 000.00 $ 350, 000.00 FINAL v"` CHICAGO TITLE INSURANCE COMPANY SELLER'S SETTLEMENT STATEMENT PAGE: 01 ESCROW NUMBER: 00633-000542581-001 ORDER NUMBER: 00633-000542581 CLOSING DATE: 01/28/00 CLOSER: SUE STEVENS BUYER: BURNETT STATION LLC SELLER: CITY OF RENTON PROPERTY: VACANT LAND, RENTON, WASHINGTON CHARGE SELLER CREDIT SELLER Sales Price $ $ 350,000.00 Settlement or Closing Fee To CHICAGO TITLE 651.60 Title Insurance To CHICAGO TITLE 1,100.12 COURIER/DELIVERY FEE TO CHICAGO TITLE 38.01 Funds Due To Seller At Closing 348,210.27 -------------- -------------- TOTALS $ 350, 000.00 $ 350,000.00 CERTIFICATION OF NONFOREIGN STATUS (CORPORATION, PARTNERSHIP, TRANSFEROR ESTATE) Section 1445 of the Internal Revenue Code provides that a transferee of a U.S. real property interest must withhold tax if the transferor is a foreign entity. To inform the transferee that withholding of tax is not required upon the disposition of a U.S. real property interest by CITY OF RENTON the undersigned hereby certifies the following on behalf of the corporation (1) CITY OF RENTON is a not a foreign corporation, foreign partnership, foreign trust, or foreign estate (as those terms are defined in the Internal Revenue Code and Income Tax Regulations) ; (2) CITY OF RENTON 's U.S. tax payer identification number is: 91-6001271 and (3) CITY OF RENTON 's address is: 1055 S Grady Way Renton, WA 98055 The undersigned understands that this certification may be disclosed to the Internal Revenue Service by transferee and that any false statement contained herein could be punished by fine, imprisonment, or both. Under penalties of perjury I declare that I have examined this certification and to the best of my knowledge and belief it is true, correct and complete, and I further declare that I have authority to sign this document on behalf of CITY OF RENTON Dated: CITY OF RENTON, a municipal corporation By: --- Q., Its: FIRPC/11-28-95/RLK avWVNfia zap 70 z H F _ rrn r coz 70 ' HIYl � 6 f i s L 5 c S HIL S 1S H1L MS CD v k--4 03 -4 w b 70 U' I H L'S S b S co N QJ r M 1 c� OOHOS Q2303 �` -x ry 'IOOHOS S7NOHIMV INI-V S Cli 0dol-ILu ,, d Mid r- 18 On S jn. 03 gOOHOS HJIH NOZNH2i rIOOHOS NKIISIEHO NOINE2l ¢ -4tc Not Nj�j Q l S KVM LdOddIV 3 FT-1 70 z n rri r� S z r a co 'IOOHOS DdOLUVS B 1 ��qa HI 1S ' H1 N, z IOOHOS H� U-j Cl. wo, CITY OF RENTON CITY CLERK DIVISION MEMORANDUM DATE: August 27, 1999 TO: Sue Carlson, EDNSP Administrator FROM: Michele Neumann x6521 SUBJECT: Dally Homes Purchase/Sale Agreement Addendum B The attached original document has been fully executed and is being returned to you. Please transmit the original to the contractor and retain a copy for your file. An original document is also retained by the City Clerk. Thank you. Enclosures: (1) •,.e — ' 1 0 RECEIVED CITY OF RENTON AUG 2 6 1999 ECONOMIC DEVELOPMENT, MAYORS OFFICE NEIGHBORHOODS,AND STRATEGIC PLANNING MEMORANDUM DATE: August 25, 1999 TO: Mayor Jesse Tanner FROM: Sue Carlson SUBJECT: Dally Homes Purchase/Sale Agreement Addendum Attached is the addendum to the Dally Homes Purchase and Sale Agreement reducing the purchase price to $350,000 for your signature. SAC/djm Attachment *490 ADDENDUM B TO THE PURCHASE AND SALE AGREEMENT BETWEEN DALLY HOMES INC. AND THE CITY OF RENTON 1. Adjustment to Purchase Price. Per Paragraph 4.0, the purchase price is reduced to $350,000. 2. All other terms and conditions of the Purchase and Sale Agreement shall remain in full force and effect. CITY OF RENTON DALLY HOMES INC. ;;LV-4^ -101 l 4eTanner, Mayor Dona esident CF iRRi�j� aG Attest:___.__ _* SEAL *_ Marilyn J. ersen,City Clerk A %NW 9�12 mg %\. k small z 0111I 1 MAY 7 na f( j May 4, 1999 CITY OF RENTON Judith A. Wright Administrative Secretary MAY 2 1 1999 City of Renton RECEIVED Economic Development, Neighborhoods &Planning CITY CLERK'S OFFICE 1055 S. Grady Way Renton, WA 98055 RE: 339 BURNETT AVENUE SOUTH, RENTON Dear Judith: Attached is the original, fully executed Purchase and Sale Agreement between Dally Homes and the City of Rej:ton for the 339 Burnett Avenue Scruth site. The 90-day contingency period began upon the Mayors signature on April 16, 1999. The final day of said period is Thursday, July 15, 1999. Sincerely, DALLY HOMES, INC. Christie J. Nevetral Sales and Marketing Coordinator CJN/toss Enclosure cc: Don Dally - L)HI Charlie Laboda- DHI Sue Carlson—City of Renton A • • NWMLS Form No.25 Vacant Land Purchase&Sale `+r11W Copyright 1996 Rev.12/96 Northwest Multiple Listing Service Page 1 of 3 Pages ALL RIGHTS RESERVED VACANT LAND PURCHASE AND SALE AGREEMENT THIS AGREEMENT AFFECTS YOUR LEGAL RIGHTS. YOU ARE ADVISED TO SEEK LEGAL ADVICE BEFORE SIGNING. Date: March 25 19 99 1 The Buyer, Dally Homes, Inc. and/or Assigns agrees to buy and seller agrees to sell,on the following terms,the 2 property known as/aUnear 339 Burnett Avenue City of, Renton Kin County, 3 Washington,Zip: 98055 legally described ❑as attached M as follows: to be provided by Seller prior 4 to full acceptance of this offer. 5 6 (Buyer and Seller authorize Selling Licensee or Closing Agent to insert or correct,over their signatures,the legal description of the property). Except in paragraph 11,the terms 7 "Listing Agent"and"Selling Licensee"mean the real estate company. 8 1. PURCHASE PRICE. The purchase price is Four hundred Sixty—Six thousand nine $466,900,00 ,including the earnest money. 9 2. METHOD OF PAYMENT. hundred & no/100 dollars (See Addendum for purchase price All cash at closing, adjustment) 10 3. PERCOLATION TEST DISCLOSURE. If the property is located in King County and:(a)Is not served by an approved public or private sewer system;and(b)Is to be improved 11 for residential or business use;Seller agrees to deliver to Buyer the Percolation Test Disclosure required by King County. 12 4. SHORT PLAT. The property ❑has been ❑must be Xlffis not legally required to be,short platted. If it has been,the Short Plat Number is in the legal description above. 13 5. INSPECTION. This Agreement: 's ❑ See Addendum 14isnot conditioned on a hazardous materials inspection of the property and its improvementsX�tf�SII�IiQp6�LgAdt>my� The parties acknowledge that the Listing Agent and Selling Licensee have no expertise on these matters,and recommend the above inspections. 16 5a. RIGHT TO FARM AND RIGHT TO PRACTICE FORESTRY DISCLOSURES(Snohomish County Only). The property ❑is ❑is not "designated farmland"or situated 17 within 1300 feet of"designated farmland"in Snohomish County,Washington. (If it is,attach NWMLS Addendum No.22G or equivalent). The property ❑is ❑is not 18 "designated forest land"or situated within 300 feet of"designated forest land"in Snohomish County,Washington. (If it is,attach NWMLS Addendum No.22H or equivalent). 19 6. ZONING. Seller warrants that the current zoning designation is: D.C. (Downtown Commercial) 20 7. UTILITIES. The property is presently served by a: 30 public water main ❑private well ❑community well q sewer main magas main V electric distribution line 21 ❑none of the foregoing. The term"served by"means(except in the case of a well)that a main or line capable of adequately serving the entire property abuts or adjoins the 22 property at some point. NOTWITHSTANDING THE FOREGOING,it is the BUYER'S RESPONSIBILITY TO VERIFY within_ 11/a days (10 days if not filled in) , 23 from the date of mutual acceptance of this Agreement,that any utilities serving the property meet Buyer's needs. If the Buyer does not give notice to the contrary 24 within said number of days, it shall be conclusively deemed that said utilities do meet Buyer's needs. 25 8. CLOSING OF SALE. This sale shall be closed on See Addendum ,19 or sooner by agreement of the parties,by Chicago 26 Title Insurance Co• or such other closing agent as Buyer shall designate. 27 9. FIRPTA-TAX WITHHOLDING AT CLOSING.The Closing Agent is instructed to prepare a certification(NWMLS Addendum No.22E or equivalent)that Seller is not a"foreign 28 person"within the meaning of the Foreign Investment In Real Property Tax Act. Seller agrees to sign this certification. If Seller is a foreign person,and this transaction is 29 not otherwise exempt from FIRPTA,Closing Agent is instructed to withhold and pay the required amount to the Internal Revenue Service. 30 10. POSSESSION. Buyer shall be entitled to possession XXon closing ❑at 9:00 PM on the calendar day after closing 31 ❑ . "Closing"means the date on which all documents are recorded and the sale proceeds are available to Seller. Seller agrees to 32 maintain the property anis included appliances in their present condition,normal wear and tear excepted,until Buyer is entitled to possession. 33 11. DISCLOSURE OF AGENCY OR NON-AGENCY. At the signing of this Agreement,the Selling Licensee N/A 34 represented N/A (Insert name of Licensee and the company name as licensed) (Insert Seller,Buyer,both Seller and Buyer,or neither Seller nor Buyer) The Listing Agent N/A 35 (Insert name of Licensee and the company name as licensed) represented N/A (Insert Seller,or both Seller and Buyer) Each party signing this Agreement confirms that prior oral and/or written disclosure of agency or 36 non-agency was provided to him/her in this transaction. If Selling Licensee and Listing Agent are different salespersons affiliated with the same Broker,then both Buyer and 37 Seller confirm their consent to that Broker acting as a dual agent. If Selling Licensee and Listing Agent are the same salesperson representing both parties then both Buyer 38 and Seller confirm their consent to that salesperson and his/her Broker acting as dual agents. Buyer and Seller confirm receipt of the pamphlet entitled"The Law of Real 39 Estate Agency." 40 11a. COMMISSION DISCLOSURE. Neither Listing Agent nor Selling Licensee is receiving compensation from more than one party to this transaction unless otherwise stated 41 on an attached addendum,in which case Buyer and Seller consent to such compensation. 42 12. CONDITION OFTITLE. Unless otherwise specified in this Agreement,title to the property shall be marketable at closing.The following shall not cause the title to be unmarketable:rights, 43 reservations,covenants,conditions,and restrictions presently of record and general to the area;easements and encroachments not materially affecting the value of or unduly interfering 44 with the Buyers reasonable use of the property;and reserved oil and/or mining rights. Monetary encumbrances not assumed by Buyer shall be paid by Seller on or before closing. 45 INITIALS: BUYER I BUYER SELLER SELLER 46 WHITE—Selling Agent's Copy GREEN—Escrow Copy CANARY—Purchaser's 2nd Copy PINK—Seller's Copy GOLD—Purchaser's 1st Copy NWMLS Form No.25 ` ©Copyri9 ht 1996 Vacant Land Purchase 8 Sale Rev.12/96 Northwest Multiple Listing Service Page 2 of 3 Pages ALL RIGHTS RESERVED VACANT LAND PURCHASE AND SALE AGREEMENT (CONTINUED) 13. TITLE INSURANCE.Seller authorizes Lender or Closing Agent,at Seller's expense,to apply fora standard form buyer's policy of title insuranceIkF" R� 96fl,�.47 x)AoteAtA nflation protection endorsements if available at no additional cost. The title insurance policy is to be ordered through 48 Chicago Title TnR17T Anra title company. Said company is to send a copy of the preliminary commitment therefor to both Listing Agent and 49 Selling Licensee. The preliminary commitment,and the title policy to be issued,shall contain no exceptions other than the General Exclusions and Exceptions in said standard 50 form and Special Exceptions consistent with the Condition of Title herein provided.If title cannot be made so insurable prior to the closing date,then as Buyer's sole and exclusive 51 remedy,the earnest money shall,unless Buyer elects to waive such defects or encumbrances,be refunded to the Buyer,less any unpaid costs described in paragraph 26 hereof, 52 and this Agreement shall thereupon be terminated. Buyer shall have no right to specific performance or damages as a consequence of Seller's inability to provide insurable title. 53 14. CONVEYANCING/PERFORMANCE. 54 WARRANTY DEED. Title shall be conveyed by a Statutory Warranty Deed. If this Agreement is for conveyance of a Buyer's interest in a Real Estate Contract,the Statutory 55 Warranty Deed shall include a buyer's assignment of the contract sufficient to convey after acquired title. 56 SECURITY. If this Agreement is for sale on either a Real Estate Contractor a Note secured by Deed of Trust,the parties agree to the FORM(S)ATTACHED HERETO unless 57 an institution providing financing requires different forms. If Real Estate Contract Form LPB-44 is attached hereto,only those optional clauses in that form required by the 58 terms of this Agreement shall apply. 59 LIABILITY FOR PAYMENTS. The holder is entitled to collect payments on a Real Estate Contractor Note EVEN THOUGH THE BUYER ABANDONS and/or offers to quit 60 claim the property to the holder. 61 PERFORMANCE. Time is of the essence on this Agreement. 62 ASSIGNMENT. Buyer may not assign this Agreement,or Buyer's rights hereunder,without Seller's prior written consent,unless provided otherwise herein. 63 15. UNDERLYING ENCUMBRANCES. If there is an existing Deed of Trust,Real Estate Contract or other encumbrance which is to remain unpaid after closing and its terms 64 require the holder's consent to this sale,Buyer agrees to promptly apply for such consent and this Agreement is conditioned on it being obtained. 65 16. CONDITION OF WELL. Seller warrants the private well(if any)serving,or to serve,the property:(a)provides an adequate supply of household and yard water,meeting State Department 66 of Social and Health Services purity standards;and(b)continued use of the well is authorized by a State Water Right Certificate or is legally exempt from the requirement of a Certificate. 67 17. CONDITION OF SEPTIC SYSTEM. Seller warrants that the septic system(if any)serving,or to serve,the property:(a)is in good working order and Seller has no knowledge 68 of any needed repairs;and(b)is currently not in violation of any governmental,health,construction and other standards,applicable to the property. 69 18. SALE INFORMATION. The Listing Agent or Selling Licensee is authorized to report this Agreement(including price and all terms)to the Multiple Listing Service that 70 published it and to its members;financing institutions;appraisers;and anyone else related to this sale. Buyer and Seller authorize all lenders,closing agents,appraisers, 71 title insurance companies,and others related to this sale,to furnish the Listing Agent and/or Selling Licensee,on request,any and all information and copies of documents 72 concerning the status,progress and final disposition of financing,appraisal,closing,title condition,and any other matter concerning this sale,INCLUDING BUYER'S 73 CREDIT REPORT. (FHA regulations prohibit lenders giving credit information to anyone on FHA loans). 74 19. SEATTLE REQUIREMENTS. If the property is in the City of Seattle,Seller agrees to deliver to Buyer a"Certificate of Land Use and Local Assessments"complying with 75 the Seattle Ordinance. 76 20. CLOSING COSTS AND PRORATION. Seller and Buyer shall each pay one-half of escrow fee. Seller shall pay real estate excise tax. Taxes for the current year,rent, 77 interest,and lienable homeowner's association dues shall be prorated as of closing. If any payments are delinquent on encumbrances which will remain after closing, 78 Closing Agent is instructed to pay them at closing from money due,or to be paid by,Seller. 79 23. NOTICES AND COMPUTATION OF TIME. Unless otherwise specified,any notice required or permitted in,or related to,this Agreement must be in writing and signed 80 by any one Buyer or Seller(including either husband or wife). The notice must be received by or at the office of Selling Licensee who,for this limited purpose,shall be 81 the Agent of both parties. Buyer and Seller further authorize Selling Licensee to receive on their behalf all other documents relating to this transaction that maybe delivered 82 from one party to the other, including but not limited to Seller's Real Property Transfer Disclosure Statement(RCW 64.04), condominium resale certificates, land 83 registrations and any additional written notices,responses or communications relating to such documents. Upon receipt by the Selling Licensee,the party to whom the 84 notice or any other document is directed shall be deemed to have received and to have knowledge of the contents of the notice or document. Anytime limit in or applicable 85 to a notice shall commence on the day following receipt of the notice by the Selling Licensee,and shall expire at 9:00 PM of the last calendar day of the specified period 86 of time,unless the last day is Saturday,Sunday or legal holiday as defined in RCW 1.16.050,in which event the time limit shall expire at 9:00 PM of the next business 87 day. Any specified period of five(5)days or less shall include business days only. SELLER AND BUYER MUST KEEP SELLING LICENSEE ADVISED OF THEIR 88 WHEREABOUTS TO RECEIVE PROMPT NOTIFICATION OF RECEIPT OF A NOTICE. SELLING LICENSEE HAS NO RESPONSIBILITY TO ADVISE OF RECEIPT OF A 89 NOTICE BEYOND EITHER PHONING THE PARTY OR CAUSING A COPY OF THE NOTICE TO BE DELIVERED TO THE PARTY'S ADDRESS ON THIS AGREEMENT. 90 22. FACSIMILE TRANSMISSION.Facsimile transmission ofanysigned original document,and retransmission ofanysigned facsimile transmission,shall be the same as delivery 91 of an original. At the request of either party,or the Closing Agent,the parties will confirm facsimile transmitted signatures by signing an original document. 92 23. BUYER'S FUNDS TO CLOSE. Buyer represents that Buyer has sufficient funds to close this sale in accordance with this Agreement,and is not relying on any contingent 93 source of funds or gifts unless expressly set forth elsewhere in this Agreement. 94 24. ADDENDUMS. In addition to any other Addendums referred to in this Agreement,the following Addendums are attached hereto: ❑None 95 Addendum to Purchase and Sale Agreement hPr loan I1a1137 Tinmac and City of RPntnn 96 25. DEVELOPMENT AND/OR CONSTRUCTION-FEASIBILITY AND COST. IT IS THE BUYER'S RESPONSIBILITY TO VERIFY within days (15 days 97 if not filled in)from the date of this agreement whether or not the property can be platted,developed and/or built on(now or in the future)and what it will cost to do this. BUYER 98 SHOULD NOT RELY ON ANY ORAL STATEMENTS CONCERNING THIS MADE BY THE SELLER,LISTING AGENT OR SELLING LICENSEE.BUYER SHOULD INQUIRE 99 AT THE CITY OR COUNTY,AND WATER,SEWER OR OTHER SPECIAL DISTRICTS IN WHICH THE PROPERTY IS LOCATED. BUYER'S INQUIRY SHOULD INCLUDE, 100 BUT NOT BE LIMITED TO:BUILDING OR DEVELOPMENT MORATORIUMS applicable to or being considered for the property;any SPECIAL BUILDING REQUIREMENTS, 101 including setbacks,height limits or restrictions on where buildings may be constructed on the property;whether the property is affected by a flood zone,wetlands,shorelands 102 or other ENVIRONMENTALLY SENSITIVE AREA;road,school,fire and any other GROWTH MITIGATION OR IMPACT FEES that must be paid;the procedure and length of time 103 necessary to obtain PLAT APPROVAL and/or a BUILDING PERMIT;water,sewer and utility CONNECTION CHARGES;and all other CHARGES that must be paid. 104 If the Buyer does not give notice to the contrary within said number of days,it shall be conclusively deemed that Buyer is satisfied as to development and/or construction 105 feasibility and cost. If Buyer does so give notice this Agreement shall terminate and the Earnest money shall be returned to buyer,less any unpaid costs. 106 INITIALS: BUYE _ ` BUYER SELLERY)-- SELLER 107 WHITE—Selling Agent's Copy GREEN—Escrow Copy CANARY—Purchaser's 2nd Copy PINK—Seller's Copy GOLD—Purchaser's 1st Copy NWMLS Form No.25 '+Warr+` 1,1111ll/r` ©Copyright 1996 Vacant Land Purchase&Sale 3 of 3 Pages Northwest Multiple Listing Service Paye 3 of Rev. ALL RIGHTS RESERVED VACANT LAND PURCHASE AND SALE AGREEMENT (CONTINUED) 26. EARNEST MONEY RECEIPT.Selling Licensee acknowledges receipt from Buyer of$2 5,000 earnest money,in the form of: ❑Cash ❑Personal check 108 payable to ❑Promissory note due 19_and payable to 109 XX Other See Addendum �a�sxliaxx�� o€ as�a�ara�x�ntt �xm>rs >r� � a > 110 x^itr�ax�aa€�irrg�a>>�x�ri�taar,���r� t����l� t����lt� � 111 If the earnest money is to be held by Selling Licensee and is over$5,000,it shall be deposited to: ❑Selling Licensee's Broker's pooled trust account ❑A separate trust 112 account in Selling Licensee's Broker's name, with the interest credited at closing to Buyer/Seller (strike one) whose Social Security (or taxpayer ID) Number is: 113 If this sale fails to close,whoever is entitled to the earnest money is entitled to the interest. 114 Selling Licensee shall not deposit any check until Buyer and Seller have signed this Agreement. Buyer agrees to pay financing and purchase costs incurred by Buyer. If all 115 or part of the earnest money is to be returned to Buyer and any such costs remain unpaid,the Selling Licensee may deduct and pay them therefrom. 116 SELLING LICENSEE NSA OFFICE# OFFICE PH. OFFICE FAX# 117 BY PRINT NAME HOME PH. 118 27. DEFAULT AND ATTORNEY'S FEES. In the event Buyer fails,without legal excuse,to complete the purchase of the Property,then(check one): 119 XX a. That portion of the earnest money which does not exceed five percent(5%)of the purchase price shall be retained by Seller as liquidated damages(subject to Seller's 120 obligation to pay certain costs and a commission under Section 30 below)and as the sole and exclusive remedy available to Seller for such failure:or 121 ❑ b. Seller may,at Seller's option,(a)keep as liquidated damages all or a portion of the earnest money(subject to Seller's obligation to pay certain costs and a commission 122 under Section 30 below)as the sole and exclusive remedy available to Seller for such failure,(b)bring suit against Buyer for Seller's actual damages,(c)bring suit tospecifiically 123 enforce this Agreement and recover any incidental damages,or(d)pursue any other rights or remedies available at law or equity. 124 If Buyer,Seller,Listing Agent or Selling Licensee institutes suit concerning this Agreement,including,but not limited to claims brought pursuant to the Washington Consumer 125 Protection Act,the prevailing party is entitled to court costs and a reasonable attorney's fee. In the event of trial,the amount of the attorney's fee shall be fixed by the court. 126 The venue of any suit shall be the county in which the Property is located. 127 If neither of the above boxes is checked,then Option"b"applies. 128 28. COUNTEROFFERS. If either party makes a future counteroffer,the other party shall have until 9:00 p.m.on the N/A day (If not filled in, the second day) 129 following its receipt by or at the office of Selling Licensee to accept the counteroffer,unless sooner withdrawn. Acceptance is not effective until a signed copy thereof 130 is received by or at the office of Selling Licensee. If the counteroffer is not accepted,it shall lapse and the earnest money shall be refunded to the Buyer. 131 29. AGREEMENT TO PURCHASE AND TIME LIMIT FOR ACCEPTANCE. Buyer offers to purchase the property on the above terms and conditions. Seller has until midnight 132 of 19 to accept this offer. Acceptance is not effective until a signed copy hereof is actually received by or at the office of Selling 133 Licensee. If this offer is not so accepted,it shall lapse and Selling Licensee shall refund the earnest money to Buyer. 134 BUYER Dally Homes, Inc. DATE March 25 19 99 135 BUYER ( / U S. DATE 19 136 BUYER'S PHONE: HOME J OFFICE (206) 328-3770 137 BUYER'SADDRESS 3316 Fuhrman A e Suite 100 Seattle, WAZIP 98102 138 30. SELLER'S ACCEPTANCE AND BROKERAGE AGREEMENT.Seller agrees to sell the property on the terms and conditions herein,and further agrees to pay a commission 139 in a total amount computed in accordance with the listing agreement.The commission shall be apportioned between Listing Agent and Selling Licensee as specified in the listing. 140 If there is no written listing agreement,Seller agrees to pay Selling Licensee a commission of %of sales price or$ Seller assigns to 141 Listing Agent and Selling Licensee a portion of the sales proceeds equal to the commission.If earne st money is retained as liquidated damages,any costs advanced or committed 142 by Listing Agent or Selling Licensee for Buyer or Seller shall be reimbursed or paid therefrom,and the balance shall be divided equally between(1)Seller and(2)Listing Agent 143 and Selling Licensee per the commission or listing agreement. Seller acknowledges receipt of a copy of this Agreement,signed by both parties. 144 SELLER it Of Renton DATE �� l�1 199 145 SELLER — Jesse Tanner, Mayor DATE 19 146 PRIN LER'S NAMES City Of Renton 147 SELLER'S PHONE: HOME OFFICE (425) 430-6591 _ 146 SELLER'S ADDRESS 1055 S Grady Way Renton, WA ZIP 98055 149 LISTING OFFICE N/A OFFICE NO. OFFICE PH. MLS NO. 150 31. MUTUAL ACCEPTANCE. This Agreement is accepted without further change or counteroffer this day of 19_ 151 which shall be deemed the date of mutual acceptance of this Agreement and all addenda. 152 of 153 Initials of6+"r/Seller(strike one) Initials of Buyer/Seller(strike one) WHITE—Selling Agent's Copy GREEN—Escrow Copy CANARY—Purchaser's 2nd Copy PINK—Seller's Copy GOLD—Purchaser's 1st Copy ADDENDUM TO PURCHASE AND SALE AGREEMENT BETWEEN DALLY HOMES,INC. AND CITY OF RENTON 1.0 Parties 1.1 This Addendum is made and entered into by and between Dally Homes, Inc., a Washington Corporation ("Dally"), having its principal place of business at 3316 Fuhrman Avenue East, Suite 100, Seattle, Washington 98102, and the City of Renton, a Washington municipal corporation ("Renton") having its principal place of business at 1055 S. Grady Way, Renton, Washington 98055. 1.2 Title to the property described in the Vacant Land Purchase and Sale Agreement to which this addendum is attached shall be taken in the name of an L.L.C., to be formed, in which Dally Properties, L.L.C. is the managing member. 2.0 Recitals 2.1 This Addendum ("Addendum") is attached to and incorporated in that certain Vacant Land Purchase and Sale Agreement between the parties dated March 25, 1999 (the "Agreement"). 3.0 Contingencies ,ncies 3.1 This offer is sabject to the Purchaser. at his sole expense, completing a feasibility study for a mixed-use project consisting of 58 apartment units and approximately 7,500 square feet of commercial space. Said feasibility shall be satisfactory to Purchaser, alone in his sole discretion, within ninety (90) days after Seller's acceptance thereof. Purchaser shall notify Seller in writing of his satisfaction within specified time and shall convert the Earnest Money Promissory note to Cash to be deposited into escrow. This deposit shall be non-refundable as long as Seller complies with the condition of the Vacant Land Purchase and Sale Agreement. In the absence of said written notice, this offer shall become immediately null and void and of no further consequence. 4.0 Purchase Price Adjustment 4.1 The price will not be reduced below the current appraised value of$350,000 for the property as a result of any or all of the below three (3) conditions: a. If the City, through mitigation with the neighborhood requires less units, then the total price will be adjusted down at$8,050 per unit to a floor of 55 units ($442,750). be If a Geo Tech report requires a building on the site to be supported by grade beams on piles or any other method, such as extra wide/heavy footings/pads as a result of soil conditions, the price will be reduced by this actual cost as verified by the City. Page 1 of 3 C. If a Geo Tech report requires the removal of contaminated soils, concrete slabs or railroad tracts, the price will be reduced by the actual cost as verified by the City. 5.0 Conditions of Sale 5.1 The City of Renton and Dally Homes, Inc. will agree in writing on the full mitigation, utility hook-up and permit fee costs during the initial 90 day feasibility period. 5.2 The City of Renton agrees to use its best efforts to expedite the SEPA and permitting process. 6.0 Closing 6.1 This sale shall close not later than thirty (30) days following written notice to Dally that Renton has internally approved and is ready to issue the building permit for the project. The building permit shall thereafter issue at Dally's request. It is the understanding of both Purchaser and Seller that the closing will occur within 300 days from full acceptance, of this Purchase and Sale Agreement. However, if the issuance of a perinit is being held up by the Building Department or a neighborhood appeal, Seller will not mireasonably extend closing. 7.0 Environmental 7.1 Renton represents and warrants to Dally that, as of the full execution of this Agreement, Renton has disclosed to Dally all information, knowledge and reports concerning the environmental condition of the Property. Renton represents and warrants to Dally that, to Renton's best knowledge, the environmental status of the Property as of the date below, contains no hazardous waste or contaminated soils. 7.2 Dally and its representatives, prior to removing the Feasibility Contingency, will be afforded the opportunity to make such soil and environmental inspections of the Property as Dally desires. Dally acknowledges that the Property is being sold or conveyed in an "as is, where is" condition, but such acknowledgement shall not constitute a waiver of release of any claims Dally may have for the existing environmental condition of the Property. 7.3 Renton has owned the Property for a period of time and has conducted no activities on the Property other than to allow public parking on the entire site. Dally has had no connection with or ownership of the Property at any time prior to this Agreement. As between themselves, the parties assume the risk and responsibilities related to the Property as set forth in RCW Chapter 70.105D. Notwithstanding the foregoing, nothing in this Section 7.0 implies an obligation for either party to indemnify the other against claims or liability for response or cleanup costs to the extent such party is not liable under applicable law for such costs. Page 2 of 3 7.4 The parties acknowledge that notwithstanding any prior contemporaneous oral or written representations, statements, documents or understandings, this Section 7.0 constitutes the entire understanding of the parties with respect to the subject matter hereof and the purchase and sale of the Property, and supersedes any such prior or contemporaneous oral or written representations, statements, documents or understandings. CITY OF RENTON DALLY HOMES, INC. se Tanner, Mayor Date Donald all r' ident Date ATTEST: Marilyn JV P ersen Date City Clerk Page 3 of 3 Legal Description: Property at 339 Burnett Avenue South, Renton Lots 16 through 21, inclusive, Block 33 Smither's First Addition to the Town of Renton according to the Plat thereof recorded in Volume 9 of Plats, page 76, records of King County,Washington. EXCEPT that portion of said Lot 16 conveyed to the City of Renton for street, alley and any other public uses and purposes by deed recorded under Recording Number 7401170345. CAword\legal\Surplus\tgb 12/98 $25,000.00 Seattle, Washington EARNEST MONEY PROMISSORY NOTE C(Opy FOR VALUE RECEIVED, Dally Homes, Inc. ("Maker") promises to pay to the order of Chicago Title Insurance Company("Holder") at 1800 Columbia Seafirst Center, 701 5th Avenue, Seattle, Washington 98104, or at such other place as Holder may designate in writing, the sum of Twenty-five Thousand and No/100 Dollars ($25,000.00) in lawful money of the United States as in the Addendum to the Vacant Land Purchase and Sale Agreement dated March 25, 1999 entered into between Dally Homes, Inc. and the City of Renton. This note is made with reference to and is to be construed in accordance with the laws of the State of Washington. DATED this 1S' day of ��� , 1999. MAKER: DALLY HOMES, INC. By: I Its: CITY OF RENTON CITY CLERK'S OFFICE MEMORANDUM DATE: April 16, 1999 TO: Sue Carlson, EDNSP FROM: Michele Neumann x2581 SUBJECT: Purchase & Sale Agreement with Dally Homes/Burnett Ave. S. Purchase & Sale Agreement Addendum with Dally Homes/Burnett Ave. S. The attached original documents have been fully executed and are being returned to you. Please transmit the originals to the contractor and retain a copies for your file. An original document is also retained by the City Clerk. Thank you. Enclosures: (1 Agreement & 3 Addendums) J CONTRACT CHECKLIST � j STAFF NAME & EXTENSION NUMBER: DIVISION/DEPARTMENT: 11 WT /P . CONTRACT NUMBER: CITY OF RECTON TASK ORDER NUMBER(if applicable): APR 1 41999 CONTRACTOR: da- �ax- hJ� CITY CLERK'S RECEIVED OFFICE PURPOSE OF CONTRACT: 1. LEGAL REVIEW: (Attach letter from city attorney.) 2. RISK MANAGEMENT REVIEW FOR INSURANCE: (Attach letter.) 3. RESPONSE TO LEGAL OR RISK MGMT CONCERNS: (Explain in writing how concerns have been met.) 4. INSURANCE CERTIFICATE AND/OR POLICY: (Attach original.) 5. CITY BUSINESS LICENSE NUMBER: (Call Finance Dept.) 6. ATTACHED CONTRACTS ARE SIGNED BY CONTRACTOR: (If not,provide explanation.) 7. FISCAL IMPACT: A. AMOUNT BUDGETED (LINE ITEM) (See 8.b)* B. EXPENDITURE REQUIRED: 8. COUNCIL APPROVAL REQUIRED (Prepare Agenda Bill.): A. CONTRACT OR TASK ORDER IS $50,000 OR OVER: (Refer to Council committee for initial contract approval; place subsequent task orders on Council agenda for concurrence.) B. *FUND TRANSFER REQUIRED IF CONTRACT EXPENDITURE EXCEEDS AMOUNT BUDGETED. (Refer to Council committee.) C. SOLE SOURCE CONTRACTS. (Refer to Council committee.) 9. DATE OF COUNCIL APPROVAL: 6L9&) - S/.Va/99 10. RESOLUTION NUMBER (if applicable): 4 < 33 loS /a- 7-ni,' 11. KEY WORDS FOR CITY CLERK'S INDEX: A. B. C. c:\winword\forms\chkliat 09/02/93 „ ,.� V. CIT OF RENTON MAL Economic Development, Neighborhoods and Planning M Jesse Tanner,Mayor Susan Carlson,Administrator CITY OF RENTON APR 0 71999 April 6, 1999 RECEIVED CITY CLERK'S OFFICE SUBJECT: STATUS REPORT-- CITY-OWNED SURPLUS PROPERTY AT 4TH& BURNETT Dear Interested Citizens: The purpose of this letter is to update you on the status of the city's efforts to sell the property at the corner of S. 4th Street and Burnett Avenue in downtown Renton. This is a follow-up to the letter of March 15, 1999. The City Council authorized the staff to proceed with a purchase and sale agreement with Dally Homes,Inc. on March 22, 1999. During the next 90 days,Dally Homes will be conducting studies on the site to prepare final development plans. As noted in the previous letter, the Council approval of the purchase and sale agreement is not the same as the project approval. Those plans will still need to go through the city's review and permit processes. Some of you received a letter from Jana Hanson,Land Use Review Supervisor, stating you would need to submit a letter to become a party of record. However,because of the interest in this project by several neighbors and downtown interests,the Council had already directed staff to make everyone that has commented so far a party of record. If you were sent this letter,you are already on the party of record list and you will be notified when a project application is submitted to the City. I hope this information is helpful to you. If you have any questions please feel free to contact me at 425-430-6590. Thank you for your interest in this matter. Sincerely, Michael D.Kattermann,AICP Planning Director cc: Mayor Tanner City Council Members Jay Covington Sue Carlson Marilyn Petersen Jana Hanson — c:\document\downtown\redevdis\surpres3.doc 1055 South Grady Way - Renton, Washington 98055 ®This paper contains 50%recycled material,20%post consumer March 22, 1999 Renton City Council Minutes `" Page 100 props at Renton's Station 14, with Seattle conducting all of the training for their recruit class of 30 firefighters. • The Police Department has reported that"Class 1" crimes decreased by approximately 15% in 1998, a significant percentage considering that motor vehicle thefts, which are included in this category, increased by over 30%. • The Police Department issued 12,248 traffic citations in 1998, compared to 11,300 issued in 1997. Public Safety: EMS Funding Mr. Covington reported that the Suburban Cities Association, which represents King County jurisdictions with populations under 50,000,has asked for Renton's position on the issue of emergency medical services (EMS) long-term funding. The SCA will vote on its position on March 31St. Mr. Covington explained that at a recent SCA medium-sized city caucus meeting, the following preferred courses of action were developed (in order of preference): 1. Seek a permanent EMS levy for both advanced and basic life support; 2. Seek a three-year levy(both ALS and BLS); 3. Pursue other funding alternatives for both ALS and BLS services. MOVED BY KEOLKER-WHEELER, SECONDED BY CORMAN, COUNCIL ADOPT THE AFORE-MENTIONED POSITION AS RENTON'S OFFICIAL PREFERENCES ON THE COUNTY-WIDE EMS FUNDING ISSUE. CARRIED. Councilmember Keolker-Wheeler asked whether a permanent levy,once approved, can ever be rescinded. Mayor Tanner agreed to consult with the SCA and Renton's legal staff to determine whether this would be possible. AUDIENCE COMMENT Charmaine Baker, 3713 Meadow Ave.N.,Renton, 98056, submitted written Citizen Comment: Baker— information to the Council on the history of Kirkland's performing arts center, Performing Arts Center at including costs and funding sources. Renton High School Citizen Comment: Mason— David Mason,231 Williams Ave.N.,Renton, 98055, spoke as a representative Tony's Cleaners Relocation of Tony's Cleaners,which is being relocated out of the City's Aquifer (Aquifer Protection Protection Area Zone 1. Mr. Mason requested a meeting with Council's Regulations) Utilities Committee regarding the amount of the company's relocation expenses and the manner in which these will be reimbursed by the City. MOVED BY SCHLITZER, SECONDED BY CORMAN, COUNCIL REFER THIS MATTER TO THE UTILITIES COMMITTEE. CARRIED. Citizen Comment: Hoben— Mark Hoben, 17434- 128th Ave. SE, Renton, urged approval of the purchase Sale&Development of 4th& and sale agreement for the development of the property at 4th &Burnett. He Burnett Surplus Property believed that the civic share of the downtown area's redevelopment is �. appropriately limited, and that the bulk of the redevelopment must be achieved by the private sector. Citizen Comment: Dineen— Jeff Dineen, 320 Smithers Ave. S., Renton, 98055, said while he appreciated Sale&Development of 4th & the attention given to the concerns of neighbors in the vicinity of the proposed Burnett Surplus Property 4th&Burnett development,he emphasized that major issues still remain, such as traffic in the alley and access to the building's underground parking. He ' asked that the neighborhood be kept involved in the process. MOVED BY KEOLKER-WHEELER, SECONDED BY CORMAN, COUNCIL DIRECT THAT THE SIGNERS OF A PETITION SUBMITTED March 22, 1999 °"r Renton City Council Minutes 1401 Page 101 BY MR. DINEEN LAST YEAR ON THIS SUBJECT BE INCLUDED AS PARTIES OF RECORD ON THIS PROJECT. CARRIED. CONSENT AGENDA Items on the consent agenda are adopted by one motion which follows the listing. CAG: 99-021,N 40th& City Clerk reported bid opening on 3/16/99 for CAG-99-021,N. 40th St. & Meadow Ave N Storm System, Meadow Ave. N. storm system; 20 bids; project estimate $339,000.33; and Harlow Construction submitted staff recommendation to award the contract to the low bidder, Harlow Construction Company, Inc., in the amount of$226,831.73. Council concur. EDNSP:Neighborhood Economic Development,Neighborhoods & Strategic Planning Department Enhancement Grants submitted selection criteria and program parameters for the offering of small grants up to$5,000 to community groups for projects that build or enhance the physical features of a neighborhood. Refer to Community Services Committee. Finance: Golf Course Bonds Finance and Information Services Department recommended that Golf Course Refunding(1994) Revenue Bonds originally issued in 1994 to build the clubhouse and driving range be refunded due to decreasing interest rates. The amount of savings will be $269,096 over the life of the bonds. Council concur. (See page 104 for Finance Committee report and page 105 for associated ordinance.) Fire: Aid Car Purchases Fire Department recommended approval of an agreement in the amount of (Three),Braun NW $382,156.47 to purchase three new aid cars from Braun Northwest, Inc. Council concur. Technical Services: Technical Services Division recommended approval of the establishment of a Photogrammetric Mapping small works roster listing three firms to provide photogrammetric mapping Services Small Works Roster services. Council concur. Airport: Wildlife (Fowl) Transportation Division recommended approval of an agreement in the amount Hazards,Agreement with US of$81,000 with the U.S. Department of Agriculture to provide Dept of Agriculture recommendations and assistance in reducing wildlife hazards within the airport environments. Refer to Transportation (Aviation)Committee. Transportation: Downtown Transportation Division requested authorization for the temporary closures of Streets Temporary Closures Morris Ave. S., Whitworth Ave. S., and Shattuck Ave. S. between South 2nd (Morris, Whitworth, Shattuck) and 3rd Streets for five working days each, sometime between March 29 and May 7. Council concur. (See page 105 for resolution.) MOVED BY CORMAN, SECONDED BY SCHLITZER,COUNCIL APPROVE THE CONSENT AGENDA AS PRESENTED. CARRIED. CORRESPONDENCE Correspondence was read from Ben Millett, 1602 Olympia Ave. SE,Renton, Citizen Comment: Millett— 98058, requesting that a skate park be built in Renton. MOVED BY NELSON, Skate Park in Renton SECONDED BY KEOLKER-WHEELER, COUNCIL REFER THIS LETTER TO THE COMMUNITY SERVICES COMMITTEE. CARRIED. Citizen Comment: Mapili— Correspondence was read from Charles Mapili, 2316 NE 31 st St.,Renton, Staff Assistance re: Stafford 98056, expressing appreciation towards Renton Hearing Examiner Fred Crest Plat Kaufman and City staff Neil Watts and Jennifer Toth Henning for providing him with information on the Stafford Crest Division II development project, located near his home. Citizen Comment: Thornton— Correspondence was read from Bob Thornton of Hawkins-Poe,Realtors, 1215 East Renton Plateau Regents Blvd., Tacoma, 98467,requesting commercial zoning along SE 128th Annexation Zoning (SE 128th St. as part of the East Renton Plateau Annexation zoning process. MOVED BY St) SCHLITZER, SECONDED BY KEOLKER-WHEELER,COUNCIL REFER THIS LETTER TO THE OFFICIAL FILE NO. A-98-001. CARRIED. March 22, 1999 *Wo Renton City Council Minutes Page 102 OLD BUSINESS Council President Pro tem Corman presented a report regarding development Committee of the Whole and use of the Pavilion Building. At its March 22, 1999 meeting,the EDNSP: Downtown Pavilion Committee of the Whole received a briefing by staff on various development Building,Use Alternatives alternatives considered for the Pavilion Building,located adjacent to the Downtown Piazza. The Committee concurred with the Administration's recommended concept of using the building as an exhibition/conference center with banquet capabilities. The Committee also recommended that the Administration be directed to refine cost and design information associated with this concept. The Committee further recommended that this item be referred to the Community Services Committee for more in-depth study and review. MOVED BY CORMAN, SECONDED BY NELSON, COUNCIL CONCUR IN THE COMMITTEE REPORT*. Councilmember Keolker-Wheeler said that alternatives other than using the building as an exhibition/conference center should not yet be dismissed without further consideration,particularly as the public has not had a chance to comment on this proposal. MOVED BY CORMAN, SECONDED BY SCHLITZER, COUNCIL AMEND THE COMMITTEE REPORT TO READ AS FOLLOWS": At its March 22, 1999 meeting, the Committee of the Whole received a briefing by staff on various development alternatives considered for the Pavilion Building, located adjacent to the Downtown Piazza. The Committee recommended that the Administration be directed to refine cost and design information associated with the Administration's preferred concept of using the building as an exhibition/conference center with banquet capabilities. The Committee further recommended that this item be referred to the Communitv Services Committee for more in-depth study and review. **CARRIED. *MOTION CARRIED TO APPROVE THE COMMITTEE REPORT,AS AMENDED. EDNSP: Purchase& Council President Pro tem Corman presented a report regarding the 4th& Development of the 4th& Burnett surplus property. The City of Renton originally purchased the property Burnett Property located at the northwest corner of S.4th St. and Burnett Ave. in downtown Renton for municipal purposes in 1994. By Resolution 3365 on December 7, 1998, when the property was no longer deemed necessary for public purpose, i the Council authorized staff to proceed with actions to surplus the property for public sale. The City commissioned an appraisal on the property and accepted purchase proposals during the months of February and March, 1999. Dally Homes, Inc.submitted a proposal in the amount of$466,900, subject to the following contingencies: • 58 dwelling units on the site,or a reduction in price of$8,050 for each unit removed; •reduction in price for the removal of any contaminated soil, concrete slabs or railroad tracks; •reduction in price for special pilings or footings as a result of soil conditions; and •approval of the project. The Administration recommends approval of the purchase and sale agreement with Dally Homes,Inc., subject to the above contingencies and a final sales price no less than the appraised value of$350,000. March 22, 1999 Renton City Council Minutes '''O' Page 103 The Committee recommended that Council concur in the Administration's recommendation and authorize the Mayor and City Clerk to sign such documents as necessary to transfer title thereto to Dally Homes, Inc.,or its assigns. MOVED BY CORMAN, SECONDED BY NELSON, COUNCIL CONCUR IN THE COMMITTEE REPORT. CARRIED. Transportation(Aviation) Transportation (Aviation) Committee Chair Corman presented a report Committee recommending that Council approve supplemental agreement No. 1 to CAG- CAG: 98-108,Seaplane Base 98-108, between the City and Reid Middleton, in the amount of$78,000 for the Rehab Design,Reid Middleton design and construction supervision for the seaplane base rehabilitation project, and authorize the Mayor and City Clerk to sign the agreement. MOVED BY CORMAN, SECONDED BY SCHLITZER, COUNCIL CONCUR IN THE COMMITTEE REPORT. CARRIED. Utilities Committee Utilities Committee Vice Chair Schlitzer presented a report recommending Public Works: Joint Reuse concurrence in the staff recommendation that Council authorize the Mayord Agreement with King County, City Clerk to execute the modification agreement to terminate the agreement Termination between the City of Renton and King County Department of Metropolitan Services for a joint reuse demonstration project for Class A effluent. MOVED BY SCHLITZER, SECONDED BY KEOLKER-WHEELER, COUNCIL CONCUR IN THE COMMITTEE REPORT. CARRIED. Planning&Development Planning&Development Committee Chair Keolker-Wheeler presented a reort Committee recommending that the City Council set a public hearing on proposed Zoning: Employment Area amendments to the Commercial Arterial (CA), Commercial Office (CO), Light Valley Zoning Changes Industrial (IL), Medium Industrial (IM), and Heavy Industrial (IH)zoning (Various Zones) designations on April 12, 1999. MOVED BY KEOLKER-WHEELER, SECONDED BY SCHLITZER,COUNCIL CONCUR IN THE COMMITTEE REPORT. CARRIED. Community Services Community Services Committee Vice Chair Keolker-Wheeler presented a Committee report regarding class software for the Community Services Department. The Finance: Parks Dept Class purchase of ESCOM class registration/membership/facility scheduling/point of Registration Software, sales software and associated hardware has expenditure approval for 1999. ESCOM This system will allow a much-needed upgrade from the system presently in use. This purchase would include program modules, licenses, peripheral hardware, membership services,and implementation, set up and training. Staff research indicates that this product is unparalleled in terms of quality,user friendliness,training and support. The current software is not Y2K compliant. The Committee recommended approval of this purchase agreement. MOVED BY KEOLKER-WHEELER, SECONDED BY SCHLITZER, COUNCIL CONCUR IN THE COMMITTEE REPORT. CARRIED. Parks: Performing Arts Center Community Services Committee Vice Chair Keolker-Wheeler presented a at Renton High School report recommending that Council concur in a recommendation that would allow the proposal of a performing arts center at Renton High School to be more fully explored. The Committee is sensitive to the design and construction timelines imposed by the Renton School District. Therefore, the Committee recommended that: 1. The City Council endorse the request from the Performing Arts Committee of Renton to proceed with planning and fundraising for a performing arts center to be located within the Renton High School site. 2. The City Council request the Renton School District to incorporate the design upgrade from auditorium to performing arts center in their plans for the remodel of Renton High School. 3. To facilitate the design upgrade, the City of Renton will contribute up to MPROVED BY CITY COUNCIL Date COMMITTEE OF THE WHOLE COMMITTEE REPORT March 22, 1999 4th&Burnett Surplus Property (Referred 3/15/99) The City of Renton originally purchased the property located at the northwest corner of South 4th Street and Burnett Avenue in downtown Renton for municipal purposes in 1994. By Resolution 3365 on December 7, 1998, when the property was no longer deemed necessary for public purpose, the Council authorized staff to proceed with actions to surplus the property for public sale. The City commissioned an appraisal on the property and accepted purchase proposals during the months of February and March, 1999. Dally Homes, Inc., submitted a proposal in the amount of $466,900, subject to the following contingencies: • 58 dwelling units on the site, or a reduction in price of$8,050 for each unit removed; reduction in price for the removal of any contaminated soil,concrete slabs or railroad tracks; • reduction in price for special pilings or footings as a result of soil conditions; and • approval of the project. The Administration recommends approval of the purchase and sale agreement with Dally Homes, Inc., subject to the above contingencies and a final sales price no less than the appraised value of$350,000. The Committee recommends that Council concur in the Administration recommendation and authorize the Mayor and City Clerk to sign such documents as necessary to transfer title thereto to Dally Homes, Inc., or its assigns. ' Randy Corman, Council President Pro Tem cc: Sue Carlson Mike Kattermann 339PROP.DOC\ Revision Date: 1/99 R �11le CIT F RENTON TOffice of the City Attorney Jesse Tanner,Mayor Lawrence J.Warren MEMORANDUM APR 5 ?999 To: Sue Carlson, Economic Development From: Lawrence J. Warren, City Attorney Date: April 1, 1999 Subject: Addendum to Purchase and Sale Agreement Between Dally Homes, Inc. and the City of Renton I have reviewed the above-referenced document and the same is approved as to legal form. Lawrence J. Warren LJW:as. cc: Jay Covington A8:157.27. Post Office Box 626 - 100 S. 2nd Street - Renton, Washington 98057 - (425)255-8678 ®This paper contains 50%recycled material,20%post consumer r"' RINI 2 ® - APR 9 �Q April 6, 1999 Sue Carlson Economic Development City of Renton 1055 S. Grady Way Renton, WA 98055 RE: 4TH & BURNETT Dear Sue: Please find attached several copies of the addendum to the Purchase and Sale Agreement on the above referenced site. I don't believe you have signed copies from your last meeting with Don Dally. Please have them signed and forward the original back to our office. If you have any questions, please call me at (206) 328-3770. Sincerely, DALLY HOMES, INC. Christie J. Nevetral Sales and Marketing Coordinator CJN/mss Enclosures March 24, 1999 Sue Carlson City of Renton 1055 S. Grady Way Renton, WA 98055 RE: 339 BURNETT AVENUE Dear Sue: Attached is the Vacant Land Purchase and Sale Agreement for the above referenced project per our proposal. Please call me if you have any questions. Sincerely, DALLY HOMES, INC. t I Donald F. Dally President Enclosures DFD/cjn l66ii { NWMLS Form No.25 Vacant Land Purchase&Sale E-C:opyrighl 1996 Rev.12/96 Northwest Multiple Listing Service Page 1 of 3 Pages ALL RIGHTS RESERVED VACANT LAND PURCHASE AND SALE AGREEMENT THIS AGREEMENT AFFECTS YOUR LEGAL RIGHTS. YOU ARE ADVISED TO SEEK LEGAL ADVICE BEFORE SIGNING. Date: March 25 19 99 1 The Buyer, Dally Homes, Inc. and/or-Assigns agrees to buy and seller agrees to sell,on the following terms,the 2 property known as/at/near 339 Burnett Avenue City of, Renton Kin County, 3 Washington,Zip: 98055 legally described ❑as attached M as follows: _ to be provided by Seller prior 4 to full acceptance of this offer, 5 6 (Buyer and Seller authorize Selling Licensee or Closing Agent to insert or correct,over their signatures,the legal description of the property). Except in paragraph 11,the terms 7 "Listing Agent"and"Selling Licensee"mean the real estate company. 8 1. PURCHASE PRICE. The purchase price is Four hundred SiXty—SiX thousand nine $466,900.00 includ2. METHOD OF PAYMENT. hundred & no/100 dollars (See Addendum for purchasing tpricetmoney. 9 All cash at closing. adjustment) 10 3. PERCOLATION TEST DISCLOSURE. If the property is located in King County and:(a)Is not served by an approved public or private sewer system;and(b)Is to be improved 11 for residential or business use;Seller agrees to deliver to Buyer the Percolation Test Disclosure required by King County. 12 4. SHORT PLAT. The property ❑has been ❑must be his not legally required to be,short platted. If it has been,the Short Plat Number is in the legal description above. 13 5. INSPECTION. This Agreement: IN& ❑ isnot conditioned on a hazardous materials inspection of the property and its improvementsX�C'li See Addendum 14 I€tts3231�tiF6i}Cgl�tltlgitl>7cpg� ���5 The parties acknowledge that the Listing Agent and Selling Licensee have no expertise on these matters,and recommend the above inspections. 16 5a. RIGHT TO FARM AND RIGHT TO PRACTICE FORESTRY DISCLOSURES(Snohomish County Only). The property ❑is ❑is not "designated farmland"or situated 17 within 1300 feet of"designated farmland"in Snohomish County,Washington. (If it is,attach NWMLS Addendum No.22G or equivalent). The property ❑is ❑is not 18 "designated forest land"or situated within 300 feet of"designated forest land"in Snohomish County,Washington. ([fit is,attach NWMLS Addendum No.22H or equivalent). 19 6. ZONING. Seller warrants that the current zoning designation is: D.C. (Downtown Commercial) 20 7. UTILITIES. The property is presently served by a: 30 public water main ❑private well ❑community well 0 sewer main XXgas main Xl electric distribution line 21 ❑none of the foregoing. The term"served by"means(except in the case of a well)that a main or line capable of adequately serving the entire property abuts or adjoins the 22 property at some point. NOTWITHSTANDING THE FOREGOING,it is the BUYER'S RESPONSIBILITY TO VERIFY within n/a days (10 days if not filled in) , 23 from the date of mutual acceptance of this Agreement,that any utilities serving the property meet Buyer's needs. If the Buyer does not give notice to the contrary 24 within said number of days, it shall be conclusively deemed that said utilities do meet Buyer's needs. 25 8. CLOSING OF SALE. This sale shall be closed on See Addendum ,19 ,or sooner by agreement of the parties,by Chicago 26 Title Insurance Co. or such other closing agent as Buyer shall designate. 27 9. FIRPTA-TAX WITHHOLDING AT CLOSING.The Closing Agent is instructed to prepare a certification(NWMLS Addendum No.22E or equivalent)that Seller is not a"foreign 28 person"within the meaning of the Foreign Investment In Real Property Tax Act. Seller agrees to sign this certification. If Seller is a foreign person,and this transaction is 29 not otherwise exempt from FIRPTA,Closing Agent is instructed to withhold and pay the required amount to the Internal Revenue Service. 30 10. POSSESSION. Buyer shall be entitled to possession mon closing ❑at 9:00 PMon the El calendar day after closing 31 "Closing"means the date on which all documents are recorded and the sale proceeds are available to Seller. Seller agrees to 32 maintain the property and included appliances in their present condition,normal wear and tear excepted,until Buyer is entitled to possession. 33 11. DISCLOSURE OF AGENCY OR NON-AGENCY. At the signing of this Agreement,the Selling Licensee N/A 34 N/A (Insert name of Licensee and the company name as licensed) represented The Listing Agent N/A 35 (Insert Seller,Buyer,both Seller and Buyer,or neither Seller nor Buyer) (Insert name of Licensee and the company name as licensed) represented N/A (Insert Seller,or both Seller and Buyer) Each party signing this Agreement confirms that prior oral and/or written disclosure of agency or 36 non-agency was provided to him/her in this transaction. If Selling Licensee and Listing Agent are different salespersons affiliated with the same Broker,then both Buyer and 37 Seller confirm their consent to that Broker acting as a dual agent. If Selling Licensee and Listing Agent are the same salesperson representing both parties then both Buyer 38 and Seller confirm their consent to that salesperson and his/her Broker acting as dual agents. Buyer and Seller confirm receipt of the pamphlet entitled"The Law of Real 39 Estate Agency." 40 Ila. COMMISSION DISCLOSURE.Neither Listing Agent nor Selling Licensee is receiving compensation from more than one party to this transaction unless otherwise stated 41 on an attached addendum,in which case Buyer and Seller consent to such compensation. 42 12. CONDITION OFTITLE. Unless otherwise specified in this Agreement,title to the property shall be marketable at closing.The following shall not cause the title to be unmarketable:rights, 43 reservations,covenants,conditions,and restrictions presently of record and general to the area;easements and encroachments not materially affecting the value of or unduly interfering 44 with the Buyers reasonable use of the property;and reserved oil and/or mining rights. Monetary encumbrances not assumed by Buyer shall be paid by Seller on or before closing. 45 INITIALS: BUYER BUYER SELLER SELLER _5�1_ 46 WHITE—Selling Agent's Copy GREEN—Escrow Copy CANARY—Purchaser's 2nd Copy PINK—Seller's Copy GOLD—Purchaser's 1st Copy NWMLS Form No.25 *41111110 *40# Vacant Land Purchase 8 Sale ©Copyright 1996 Rev.12/96 Northwest Multiple Listing Service Page 2 of 3 Pages ALL RIGHTS RESERVED VACANT LAND PURCHASE AND SALE AGREEMENT (CONTINUED) 13. TITLE INSURANCE.Seller authorizes Lender or Closing Agent,at Seller's expense,to apply fora standard form buyer's policy of title insurance RAoXA4i X4 �f� } nflation protection endorsements if available at no additional cost. The title insurance policy is to be ordered through 488 Chicago Title Tn411ranra title company. Said company is to send a copy of the preliminary commitment therefor to both Listing Agent and 49 Selling Licensee. The preliminary commitment,and the title policy to be issued,shall contain no exceptions other than the General Exclusions and Exceptions in said standard 50 form and Special Exceptions consistent with the Condition of Title herein provided.If title cannot be made so insurable prior to the closing date,then as Buyer's sole and exclusive 51 remedy,the earnest money shall,unless Buyer elects to waive such defects or encumbrances,be refunded to the Buyer,less any unpaid costs described in paragraph 26 hereof, 52 and this Agreement shall thereupon be terminated. Buyer shall have no right to specific performance ordamages as a consequence of Seller's inability to provide insurable title. 53 14. CONVEYANCING/PERFORMANCE. 54 WARRANTY DEED. Title shall be conveyed by a Statutory Warranty Deed. If this Agreement is for conveyance of a Buyer's interest in a Real Estate Contract,the Statutory 55 Warranty Deed shall include a buyer's assignment of the contract sufficient to convey after acquired title. 56 SECURITY. If this Agreement is for sale on either a Real Estate Contractor a Note secured by Deed of Trust,the parties agree to the FORM(S)ATTACHED HERETO unless 57 an institution providing financing requires different forms. If Real Estate Contract Form LPB-44 is attached hereto,only those optional clauses in that form required by the 58 terms of this Agreement shall apply. 59 LIABILITY FOR PAYMENTS. The holder is entitled to collect payments on a Real Estate Contract or Note EVEN THOUGH THE BUYER ABANDONS and/or offers to quit 60 claim the property to the holder. PERFORMANCE. Time is of the essence on this Agreement. 61 62 ASSIGNMENT. Buyer may not assign this Agreement,or Buyer's rights hereunder,without Seller's prior written consent,unless provided otherwise herein. 63 15. UNDERLYING ENCUMBRANCES. If there is an existing Deed of Trust,Real Estate Contract or other encumbrance which is to remain unpaid after closing and its terms 64 require the holder's consent to this sale.Buyer agrees to promptly apply for such consent and this Agreement is conditioned on it being obtained. 65 16. CONDITION OFWELL. Sellerwarrants the private well(if any)serving,or to serve,the property:(a)provides an adequate supply of household and yard water,meeting State Department 66 of Social and Health Services purity standards;and(b)continued use of the well is authorized by a State Water Right Certificate or is legally exempt from the requirement of a Certificate. 67 17. CONDITION OF SEPTIC SYSTEM. Seller warrants that the septic system(if any)serving,or to serve,the property:(a)is in good working order and Seller has no knowledge 68 of any needed repairs;and(b)is currently not in violation of any governmental,health,construction and other standards,applicable to the property. 69 18. SALE INFORMATION. The Listing Agent or Selling Licensee is authorized to report this Agreement(including price and all terms)to the Multiple Listing Service that 70 published it and to its members;financing institutions;appraisers;and anyone else related to this sale. Buyer and Seller authorize all lenders,closing agents,appraisers, 71 title insurance companies,and others related to this sale,to furnish the Listing Agent and/or Selling Licensee,on request,any and all information and copies of documents 72 concerning the status,progress and final disposition of financing,appraisal,closing,title condition,and any other matter concerning this sale,INCLUDING BUYER'S 73 CREDIT REPORT. (FHA regulations prohibit lenders giving credit information to anyone on FHA loans). 74 19. SEATTLE REQUIREMENTS. If the property is in the City of Seattle,Seller agrees to deliver to Buyer a"Certificate of Land Use and Local Assessments"complying with 75 the Seattle Ordinance. 76 20. CLOSING COSTS AND PRORATION. Seller and Buyer shall each pay one-half of escrow fee. Seller shall pay real estate excise tax. Taxes for the current year,rent, 77 interest,and lienable homeowner's association dues shall be prorated as of closing. If any payments are delinquent on encumbrances which will remain after closing, 78 Closing Agent is instructed to pay them at closing from money due,or to be paid by,Seller. 79 23. NOTICES AND COMPUTATION OF TIME. Unless otherwise specified,any notice required or permitted in,or related to,this Agreement must be in writing and signed 80 by any one Buyer or Seller(including either husband or wife). The notice must be received by or at the office of Selling Licensee who,for this limited purpose,shall be 81 the Agent of both parties. Buyer and Seller further authorize Selling Licensee to receive on their behalf all other documents relating to this transaction that maybe delivered 82 from one party to the other, including but not limited to Seller's Real Property Transfer Disclosure Statement(RCW 64.04), condominium resale certificates, land 83 registrations and any additional written notices,responses or communications relating to such documents. Upon receipt by the Selling Licensee,the party to whom the 84 notice or any other document is directed shall be deemed to have received and to have knowledge of the contents of the notice or document. Anytime limit in or applicable 85 to a notice shall commence on the day following receipt of the notice by the Selling Licensee,and shall expire at 9:00 PM of the last calendar day of the specified period 86 of time,unless the last day is Saturday,Sunday or legal holiday as defined in RCW 1.16.050,in which event the time limit shall expire at 9:00 PM of the next business 87 day. Any specified period of five(5)days or less shall include business days only. SELLER AND BUYER MUST KEEP SELLING LICENSEE ADVISED OF THEIR 88 WHEREABOUTS TO RECEIVE PROMPT NOTIFICATION OF RECEIPT OF A NOTICE. SELLING LICENSEE HAS NO RESPONSIBILITY TO ADVISE OF RECEIPT OF A 89 NOTICE BEYOND EITHER PHONING THE PARTY OR CAUSING A COPY OF THE NOTICE TO BE DELIVERED TO THE PARTY'S ADDRESS ON THIS AGREEMENT. 90 22. FACSIMILE TRANSMISSION.Facsimile transmission ofany signed original document,and retransmission of any signed facsimile transmission,shall be the same as delivery 91 of an original. At the request of either party,or the Closing Agent,the parties will confirm facsimile transmitted signatures by signing an original document. 92 23. BUYER'S FUNDS TO CLOSE. Buyer represents that Buyer has sufficient funds to close this sale in accordance with this Agreement,and is not relying on any contingent 93 source of funds or gifts unless expressly set forth elsewhere in this Agreement. 94 24. ADDENDUMS. In addition to any other Addendums referred to in this Agreement,the following Addendums are attached hereto: ❑None 95 Addendum to Purchase and Sale A r C ' . 96 25. DEVELOPMENT AND/OR CONSTRUCTION-FEASIBILITY AND COST. IT IS THE BUYER'S RESPONSIBILITY TO VERIFY within days (15 days 97 if not filled in)from the date of this agreement whether or not the property can be platted,developed and/or built on(now or in the future)and what it will cost to do this. BUYER 98 SHOULD NOTRELY ON ANY ORAL STATEMENTS CONCERNING THIS MADE BYTHE SELLER,LISTING AGENT OR SELLING LICENSEE.BUYER SHOULD INQUIRE 99 AT THE CITY OR COUNTY,AND WATER,SEWER OR OTHER SPECIAL DISTRICTS IN WHICH THE PROPERTY IS LOCATED. BUYER'S INQUIRY SHOULD INCLUDE, 100 BUT NOT BE LIMITED TO:BUILDING OR DEVELOPMENT MORATORIUMS applicable to or being considered for the property;any SPECIAL BUILDING REQUIREMENTS, 101 including setbacks,height limits or restrictions on where buildings may be constructed on the property;whether the property is affected by a flood zone,wetlands,shorelands 102 or other ENVIRONMENTALLY SENSITIVE AREA;road,school,fire and any other GROWTH MITIGATION OR IMPACT FEES that must be paid;the procedure and length of time 103 necessary to obtain PLAT APPROVAL and/or a BUILDING PERMIT;water,sewer and utility CONNECTION CHARGES;and all other CHARGES that must be paid. 104 If the Buyer does not give notice to the contrary within said number of days,it shall be conclusively deemed that Buyer is satisfied as to development and/or construction 105 feasibility and cost. If Buyer does so give notice this Agreement shall terminate and the Earnest money shall be returned to buyer,less any unpaid costs. 106 INITIALS: BUYER' BUYERPZ- SELLER SELLER 107 WHITE—Selling Agent's Copy GREEN—Escrow Copy CANARY—Purchaser's 2nd Copy PINK—Seller's Copy GOLD—Purchaser's 1st Copy NWMLS Form No.25 *40W y%W Vacant Land Purchase&Sale 0 Copyright 1996 Rev.12/96 Northwest Multiple Listing Service Page 3 of 3 Pages ALL RIGHTS RESERVED VACANT LAND PURCHASE AND SALE AGREEMENT (CONTINUED) 26. EARNEST MONEY RECEIPT.Selling Licensee acknowledges receipt from Buyer of$2 5,000 earnest money,in the form of: ❑Cash ❑Personal check 108 payable to ❑Promissory note due 19_and payable to 109 XX Other See Addendum ���I1axx®� r>�is �ax1 1�Ct�a�Oe��pat�Ks�o?t��31xi�$ac>�1+u1sd � �� 110 ��1��I�i4i�OPtt�X9�74�Irf4L��4i�ieY4i�R��4� ��{�gt4��4C1t1A��ktX 111 If the earnest money is to be held by Selling Licensee and is over$5,000,it shall be deposited to: ❑Selling Licensee's Broker's pooled trust account ❑A separate trust 112 account in Selling Licensee's Broker's name, with the interest credited at closing to Buyer/Seller (strike one) whose Social Security (or taxpayer ID) Number is: 113 . If this sale fails to close,whoever is entitled to the earnest money is entitled to the interest. 114 Selling Licensee shall not deposit any check until Buyer and Seller have signed this Agreement. Buyer agrees to pay financing and purchase costs incurred by Buyer. If all 115 or part of the earnest money is to be returned to Buyer and any such costs remain unpaid,the Selling Licensee may deduct and pay them therefrom. 116 SELLING LICENSEE N/A OFFICE# OFFICE PH. OFFICE FAX# 117 BY PRINT NAME HOME PH. 118 27. DEFAULT AND ATTORNEY'S FEES. In the event Buyer fails,without legal excuse,to complete the purchase of the Property,then(check one): 119 XX a. That portion of the earnest money which does not exceed five percent(5%)of the purchase price shall be retained by Seller as liquidated damages(subject to Seller's 120 obligation to pay certain costs and a commission under Section 30 below)and as the sole and exclusive remedy available to Seller for such failure:or 121 ❑ b. Seller may,at Seller's option,(a)keep as liquidated damages all or a portion of the earnest money(subject to Seller's obligation to pay certain costs and a commission 122 under Section 30 below)as the sole and exclusive remedy available to Seller for such failure,(b)bring suit against Buyer for Seller's actual damages,(c)bring suit to specifically 123 enforce this Agreement and recover any incidental damages,or(d)pursue any other rights or remedies available at law or equity. 124 If Buyer,Seller,Listing Agent or Selling Licensee institutes suit concerning this Agreement,including,but not limited to claims brought pursuant to the Washington Consumer 125 Protection Act,the prevailing party is entitled to court costs and a reasonable attorney's fee. In the event of trial,the amount of the attorney's fee shall be fixed by the court. 126 The venue of any suit shall be the county in which the Property is located. 127 If neither of the above boxes is checked,then Option"b"applies. 128 28. COUNTEROFFERS. If either party makes a future counteroffer,the other party shall have until 9:00 p.m.on the N/A day (If not filled in, the second day) 129 following its receipt by or at the office of Selling Licensee to accept the counteroffer,unless sooner withdrawn. Acceptance is not effective until a signed copy thereof 130 is received by or at the office of Selling Licensee. If the counteroffer is not accepted,it shall lapse and the earnest money shall be refunded to the Buyer. 131 29. AGREEMENT TO PURCHASE AND TIME LIMIT FOR ACCEPTANCE. Buyer offers to purchase the property on the above terms and conditions. Seller has until midnight 132 of ,19 to accept this offer. Acceptance is not effective until a signed copy hereof is actually received by or at the office of Selling 133 Licensee. If this offer is not so accepted,it shall lapse and Selling Licensee shall refund the earnest money to Buyer. 134 BUYER Dally Homes, DATE March 25 19 99 135 BUYER A,t1E DATE 19 136 BUYER'S PHONE: HOME OFFICE (206) 328-3770 137 BUYER'SADDRESS 3316 Fuhrman A ue E, uite 100 Seattle, WA ZIP 98102 138 30. SELLER'S ACCEPTANCE AND BROKERAGE AGREEMENT.Seller agrees to sell the property on the terms and conditions herein,and further agrees to pay a commission 139 in a total amount computed in accordance with the listing agreement.The commission shall be apportioned between Listing Agent and Selling Licensee as specified in the listing. 140 If there is no written listing agreement,Seller agrees to pay Selling Licensee a commission of %of sales price or$ .Seller assigns to 141 Listing Agent and Selling Licensee a portion of the sales proceeds equal to the commission.Ifearnestmoneyisretainedasliquidateddama by Listing Agent or Selling Licensee for Buyer or Seller shall be reimbursed or paid therefrom,and the balance shall be divided equally beges,anycostsadvancedorcommitted 142 tween(1)Seller and(2)Listing Agent 143 and Selling Licensee per the commission or listing agreement. Seller acknowledges receipt of a copy of this Agreement,signed by both parties. 144 SELLE C1 y Of Renton �[ / DATE '4 ` /W 19 145 SELLER — JeSSe Tanner, Mayor DATE 19 146 PRINT ER'S NAMES City of Fenton 147 SELLER'S PHONE: HOME OFFICE (425) 430-6591 _ 148 SELLER'S ADDRESS 1055 S Grady Way Renton, WA ZIP 98055 149 LISTING OFFICE N/A OFFICE NO. OFFICE PH. MLS NO. 150 31. MUTUAL ACCEPTANCE. This Agreement is accepted without further change or counteroffer this day of 19_ 151 which shall be deemed the date of mutual acceptance of this Agreement and all addenda. 152 Initials of Buyer/Seller(strike one) Initials of Buyer/Seller(strike one) 153 WHITE—Selling Agent's Copy GREEN—Escrow Copy CANARY—Purchaser's 2nd Copy PINK—Seller's Copy GOLD—Purchaser's list Copy Legal Description: Property at 339 Burnett Avenue South, Renton Lots 16 through 21, inclusive, Block 33 Smither's First Addition to the Town of Renton according to the Plat thereof recorded in Volume 9 of Plats,page 76,records of King County,Washington. EXCEPT that portion of said Lot 16 conveyed to the City of Renton for street, alley and any other public uses and purposes by deed recorded under Recording Number 7401170345. CA%vord\legal\Surplus\tgb 12/98 *44✓ 1r.r $25,000.00 Seattle, Washington py EARNEST MONEY PROMISSORY NOTE C(a FOR VALUE RECEIVED, Dally Homes, Inc. ("Maker") promises to pay to the order of Chicago Title Insurance Company ("Holder") at 1800 Columbia Seafirst Center, 701 5th Avenue, Seattle, Washington 98104, or at such other place as Holder may designate in writing, the sum of Twenty-five Thousand and No/100 Dollars ($25,000.00) in lawful money of the United States as in the Addendum to the Vacant Land Purchase and Sale Agreement dated March 25, 1999 entered into between Dally Homes, Inc. and the City of Renton. This note is made with reference to and is to be construed in accordance with the laws of the State of Washington. DATED this 2S' day of xA,4 , 1999. MAKER: DALLY HOMES, INC. Its: law ADDENDUM TO PURCHASE AND SALE AGREEMENT BETWEEN DALLY HOMES,INC. AND CITY OF RENTON 1.0 Parties 1.1 This Addendum is made and entered into by and between Dally Homes, Inc., a Washington Corporation ("Dally"), having its principal place of business at 3316 Fuhrman Avenue East, Suite 100, Seattle, Washington 98102, and the City of Renton, a Washington municipal corporation ("Renton") having its principal place of business at 1055 S. Grady Way, Renton, Washington 98055. 1.2 Title to the property described in the Vacant Land Purchase and Sale Agreement to which this addendum is attached shall be taken in the name of an L.L.C., to be formed, in which Dally Properties, L.L.C. is the managing member. 2.0 Recitals 2.1 This Addendum ("Addendum") is attached to and incorporated in that certain Vacant Land Purchase and Sale Agreement between the parties dated March 25, 1999 (the "Agreement"). 3.0 Contingencies 3.1 This offer is subject to the Purchaser, at his sole expense, completing a feasibility study for a mixed-use project consisting of 58 apartment units and approximately 7,500 square feet of commercial space. Said feasibility shall be satisfactory to Purchaser, alone in his sole discretion, within ninety (90) days after Seller's acceptance thereof. Purchaser shall notify Seller in writing of his satisfaction within specified time and shall convert the Earnest Money Promissory note to Cash to be deposited into escrow. This deposit shall be non-refundable as long as Seller complies with the condition of the Vacant Land Purchase and Sale Agreement. In the absence of said written notice, this offer shall become immediately null and void and of no further consequence. 4.0 Purchase Price Adjustment 4.1 The price will not be reduced below the current appraised value of$350,000 for the property as a result of any or all of the below three (3) conditions: a. If the City, through mitigation with the neighborhood requires less units, then the total price will be adjusted down at$8,050 per unit to a floor of 55 units ($442,750). b. If a Geo Tech report requires a building on the site to be supported by grade beams on piles or any other method, such as extra wide/heavy footings/pads as a result of soil conditions, the price will be reduced by this actual cost as verified by the City. Page 1 of 3 C. If a Geo Tech report requires the removal of contaminated soils, concrete slabs or railroad tracts, the price will be reduced by the actual cost as verified by the City. 5.0 Conditions of Sale 5.1 The City of Renton and Dally Homes, Inc. will agree in writing on the full mitigation, utility hook-up and permit fee costs during the initial 90 day feasibility period. 5.2 The City of Renton agrees to use its best efforts to expedite the SEPA and permitting process. 6.0 Closing 6.1 This sale shall close not later than thirty (30) days following written notice to Dally that Renton has internally approved and is ready to issue the building permit for the project. The building permit shall thereafter issue at Dally's request. It is the understanding of both Purchaser and Seller that the closing will occur within 300 days from full acceptance of this Purchase and Sale Agreement. However, if the issuance of a permit is being held up by the Building Department or a neighborhood appeal, Seller will not unreasonably extend closing. 7.0 Environmental 7.1 Renton represents and warrants to Dally that, as of the full execution of this Agreement, Renton has disclosed to Dally all information, knowledge and reports concerning the environmental condition of the Property. Renton represents and warrants to Dally that, to Renton's best knowledge, the environmental status of the Property as of the date below, contains no hazardous waste or contaminated soils. 7.2 Dally and its representatives, prior to removing the Feasibility Contingency, will be afforded the opportunity to make such soil and environmental inspections of the Property as Dally desires. Dally acknowledges that the Property is being sold or conveyed in an "as is, where is" condition,but such acknowledgement shall not constitute a waiver of release of any claims Dally may have for the existing environmental condition of the Property. 7.3 Renton has owned the Property for a period of time and has conducted no activities on the Property other than to allow public parking on the entire site. Dally has had no connection with or ownership of the Property at any time prior to this Agreement. As between themselves, the parties assume the risk and responsibilities related to the Property as set forth in RCW Chapter 70.105D. Notwithstanding the foregoing, nothing in this Section 7.0 implies an obligation for either party to indemnify the other against claims or liability for response or cleanup costs to the extent such party is not liable under applicable law for such costs. Page 2 of 3 7.4 The parties acknowledge that notwithstanding any prior contemporaneous oral or written representations, statements, documents or understandings, this Section 7.0 constitutes the entire understanding of the parties with respect to the subject matter hereof and the purchase and sale of the Property, and supersedes any such prior or contemporaneous oral or written representations, statements, documents or understandings. CITY OF RENTON DALLY HOMES, INC. J sse Tanner, ayor Date Donald F. Dally, si nt Da e ATTEST: Marilyn J. e e sen Date City Clerk Page 3 of 3 '�wr►' ter✓` ADDENDUM TO PURCHASE AND SALE AGREEMENT BETWEEN DALLY HOMES,INC. AND CITY OF RENTON 1.0 Parties 1.1 This Addendum is made and entered into by and between Dally Homes, Inc., a Washington Corporation ("Dally"), having its principal place of business at 3316 Fuhrman Avenue East, Suite 100, Seattle, Washington 98102, and the City of Renton, a Washington municipal corporation ("Renton") having its principal place of business at 1055 S. Grady Way, Renton, Washington 98055. 1.2 Title to the property described in the Vacant Land Purchase and Sale Agreement to which this addendum is attached shall be taken in the name of an L.L.C., to be formed, in which Dally Properties, L.L.C. is the managing member. 2.0 Recitals 2.1 This Addendum("Addendum") is attached to and incorporated in that certain Vacant Land Purchase and Sale Agreement between the parties dated March 25, 1999 (the "Agreement"). 3.0 Contingencies 3.1 This offer is subject to the Purchaser, at his sole expense, completing a feasibility study and obtaining final SEPA approval for a mixed-use project consisting of 58 apartment units and approximately 7,500 square feet of commercial space. Said feasibility shall be satisfactory to Purchaser, alone in his sole discretion, within ninety (90) days after Seller's acceptance thereof. If SEPA is being appealed at the conclusion of this 90 day period, the City will not be unreasonable in extending this Contingency until SEPA approval is issued. Purchaser shall notify Seller in writing of his satisfaction within specified time and shall convert the Earnest Money Promissory note to Cash to be deposited into escrow. This deposit shall be non-refundable as long as Seller complies with the condition of the Vacant Land Purchase and Sale Agreement. In the absence of said written notice, this offer shall become immediately null and void and of no further consequence. 4.0 Purchase Price Adjustment 4.1 The price will not be reduced below the current appraised value of$350,000 for the property as a result of any or all of the below three (3) conditions: a. If the City, through mitigation with the neighborhood requires less units, then the total price will be adjusted down at $8,050 per unit to a floor of 55 units ($442,750). b. If a Geo Tech report requires a building on the site to be supported by grade beams on piles or any other method, such as extra wide/heavy Page 1 of 3 �► tir+ footings/pads as a result of soil conditions, the price will be reduced by this actual cost as verified by the City. C. If a Geo Tech report requires the removal of contaminated soils, concrete slabs or railroad tracts, the price will be reduced by the actual cost as verified by the City. 5.0 Conditions of Sale 5.1 The City of Renton and Dally Homes, Inc. will agree in writing on the full mitigation, utility hook-up and permit fee costs during the initial 90 day feasibility period or any extensions granted by the City. 5.2 The City of Renton agrees to use its best efforts to expedite the SEPA and permitting process. 6.0 Closing 6.1 This sale shall close not later than thirty(30) days following written notice to Dally that Renton has internally approved and is ready to issue the building permit for the project. The building permit shall thereafter issue at Dally's request. It is the understanding of both Purchaser and Seller that the closing will occur within 300 days from full acceptance of this Purchase and Sale Agreement. However, if the issuance of a permit is being held up by the Building Department or a neighborhood appeal, Seller will not unreasonably extend closing. 7.0 Environmental 7.1 Renton represents and warrants to Dally that, as of the full execution of this Agreement, Renton has disclosed to Dally all information, knowledge and reports concerning the environmental condition of the Property. Renton represents and warrants to Dally that, to Renton's best knowledge, the environmental status of the Property as of the date below, contains no hazardous waste or contaminated soils. 7.2 Dally and its representatives, prior to removing the Feasibility Contingency, will be afforded the opportunity to make such soil and environmental inspections of the Property as Dally desires. Dally acknowledges that the Property is being sold or conveyed in an "as is, where is" condition, but such acknowledgement shall not constitute a waiver of release of any claims Dally may have for the existing environmental condition of the Property. 7.3 Renton has owned the Property for a period of time and has conducted no activities on the Property other than to allow public parking on the entire site. Dally has had no connection with or ownership of the Property at any time prior to this Agreement. As between themselves, the parties assume the risk and responsibilities related to the Property as set forth in RCW Chapter 70.105D. Notwithstanding the foregoing, nothing in this Section 7.0 implies an obligation for either party to indemnify the other against claims or liability for response or Page 2 of 3 cleanup costs to the extent such party is not liable under applicable law for such costs. 7.4 The parties acknowledge that notwithstanding any prior contemporaneous oral or written representations, statements, documents or understandings, this Section 7.0 constitutes the entire understanding of the parties with respect to the subject matter hereof and the purchase and sale of the Property, and supersedes any such prior or contemporaneous oral or written representations, statements, documents or understandings. CITY OF RENTON DALLY HOMES, INC. ;eesse Tanner, Mayor Date Donald F. Dally, President ate ATTEST: m✓ /(-7y Marilyn V PLVersen Date City Clerk Page 3 of 3 STATE OF WASHINGTON - KING COUNTY 100676 —ss. City of Renton No. 335 BURNETT Sale > ,n� Affidavit of Publication !=!ft bate#Jin.20' R"uesbFotens;of The undersigned, on oath states that he is an Purehaee of City Owned authorized representative of The Daily Journal of Commerce, a daily newspaper, which newspaper is a legal newspaper of general XCit8iy of Rentaa is seeking Bwe.S. The circulation and it is now and has been for more than six months letters of interest flvm parties prior to the date of publication hereinafter referred to,published in interested in,b "e 0;ty o npton the English language continuously as a daily newspaper in Seattle, located b .pat a Ave. S. King County, Washington, and it is now and during all of said time The property ie approximately 27, square feet and is coned was printed in an office maintained at the aforesaid place of Cutter Downtmaa-Mixed Use publication of this newspaper. The Daily Journal of Commerce Coil oweW,The purpose of this zoaa pro,, c de a mixed-use was on the 12th day of June, 1941, approved as a legal newspaper serving a re. by the Superior Court of King County. pouel aurltet t`&s"we11 as ad- Caudal Allowed uses sales, personal a variety es retail The notice in the exact form annexed, was published in regular salga, peaauaal s�sd ofeasional services, multi & iesiden- issues of The Daily Journal of Commerce, which was regularly tial ort lliq100 u Baia al distributed to its subscribers during the below stated period. The per acre i5fl units),recreational g and uses• annexed notice a The Ci of 94won's Compre- ' hensive Plan places an empha- sise in the ;downtown area on uses that create a land use pxt C N: P ROP ERT Y SALE tern conducive to pedestrians and transit. it stipulates devel- opment that creates urban resi- was published on dentaid der s�ty and intensiof u .The Ci �is interested in adevel. 01/08/99 01/15/99 oper or `p tial user whose; theTWmeet:she; MWO Corripre�en sive flan poli- re olire of interest should.in dieate theproposed use,for~the + The amount of the fee charge0.ooregoing publication is Property and a timeline far=de , in� d The es of th aO�'. the sum of$ , wt has been paid in full. step atter receiving the letter o (� interest. Letters from interested "0ihie at-theVW, of Subs ed and sw rn to before me on e Esr►uortYi ,lJev t C Dept. I Sow 050 S Cirac W lea} *4anu-ry,26, 1898.:,For .lfbrationy please.caaitstt Sue;Carcati st; 4�i1-668 . '�: in so. Notary Public for the State of Washington, of .',' y - e►t` 06M residing in Seattle aieri6e January a and 15,'Inei. 1/15(10087$) Affidavit of Publication 5w o.� wow 8411V City of Renton Request For Letters of Interest Purchase of City Owned Property 33S Burnett Ave S. I The City of Renton is seeking letters of interest from rties interested in purchasing property owned by the City of Renton located at 335 urnett Ave S. The property is approximately 27,000 square feet and is zoned Center Downtown — Mixed Use Commercial. The purpose of this zone is to provide a mixed-use commercial center serving a regional market as well as adjacent residences. Allowed uses include a wide variety of retail sales, personal and professional services, multi-family residential dwellings (maximum DU per acre 150 units), recreational and entertainment uses. The City of Renton's Comprehensive Plan places an emphasis in the downtown area on uses that create a land use pattern conductive to pedestrians and transit. It stipulates development that creates urban residential density and intensity of uses. The City is interested in selling this property to a developer or potential user whose plans for this property meet the City's Comprehensive Plan policies. Letters of interest should indicate the proposed use for the property and a timeline for development. The City will notify interested parties of the next step after receiving the letter of interest. Letters from interested parties are due at the City of Renton, Economic Development Dept., 1055 S Grady Way, Renton WA 98055, by January 20, 1999. For further information, please contact Sue Carlson at 425-430-6591. Published: Daily Journal of Commerce, January 8 & 15, 1999 RFPSAL- .DOC\ a. DEC 0 81998 CITY OF RENTON PLANNINGBUILDING/PUBLIC WORKS MEMORANDUM DATE: December 8, 1998 TO: Owen Dennison FROM: Tom Boyns X7209 /I7 SUBJECT: Legal Description 339 Burnett Ave S Surplus Property We have reviewed the acquisition file including the deed by which the City came into ownership, Title Policy Number 432682 which insured the City ownership, and related materials. We found no easements or other concerns referencing this property. We did find a small scrivener's error in the legal description. The reference to the Volume of Plats is correct, the reference to the page within the record Volume is incorrect. The accompanying description is correct. Our research indicated that Chicago Title Insurance Company provided the legal description which was used and duplicated within the agreements to purchase as well as the vesting deed to the City. This same company provided the title insurance policy. We suggest that they be contacted to determine if a correction is necessary. Under the circumstances, it is their duty to make the correction. Please feel free to contact me with any further question. December 7, 1998 Renton City Council Minutes Page 403 Resolution#3365 A resolution was read declaring property surplus, located on the northwest EDNSP:_Surplus Property, 339 corner of S.4th St. and Burnett Ave. S., and authorizing the Mayor and City Burnett Ave S Clerk to enter into agreements to sell such property at its fair market value. MOVED BY EDWARDS, SECONDED BY NELSON, COUNCIL ADOPT THE RESOLUTION AS PRESENTED. CARRIED. The following ordinances were presented for first reading and referred to the Council meeting of December 14, 1998 for second and final reading: Annexation: East Renton An ordinance was read annexing approximately 193 acres, including properties Plateau,A-98-001 located north and south of SE 128th St. from the Renton city limits to 152nd Ave. SE(if extended), to the City of Renton (East Renton Plateau annexation; A-98-001). MOVED BY EDWARDS, SECONDED BY SCHLITZER, COUNCIL REFER THE ORDINANCE FOR SECOND AND FINAL READING ON 12/14/98. CARRIED. Budget: 1998, Year-End An ordinance was read providing for the 1998 year-end budget adjustments in Adjustments the total amount of$7,677,000, and establishing the Waterworks Revenue Parity Bond Fund. MOVED BY PARKER, SECONDED BY NELSON, COUNCIL REFER THE ORDINANCE FOR SECOND AND FINAL READING ON 12/14/98. CARRIED. The following ordinance was presented for first reading and advanced to second and final reading: Budget: 1999,Property Tax An ordinance was read establishing the property tax levy for 1999 for both Levy general purposes and for voter-approved bond issues. MOVED BY EDWARDS, SECONDED BY NELSON,COUNCIL ADVANCE THE ORDINANCE FOR SECOND AND FINAL READING.* Responding to Councilmember Keolker-Wheeler, Finance&Information Services Administrator Victoria Runkle confirmed that the recommended property tax levy revenues will provide sufficient funds for Council to allocate nearly$540,000 for specific items to be included in next year's budget. *MOTION CARRIED. Ordinance#4754 Following second and final reading of the above-referenced ordinance, it was Budget: 1999,Property Tax MOVED BY EDWARDS, SECONDED BY PARKER, COUNCIL ADOPT Levy THE ORDINANCE AS PRESENTED. ROLL CALL: ALL AYES. MOTION CARRIED. Councilman Schlitzer requested that the budget—including the prior year's comparison—be provided to Council earlier next year. He explained that allowing an extra month for purposes of evaluation and deliberation would help ease the burden on staff to respond to questions from Councilmembers. The following ordinance was presented for second and final reading: Ordinance#4755 An ordinance was read providing for 1998 Budget amendments in the amount Budget: 1998,Oakesdale Ave of$1,712,000 to accommodate planned expenditures for the Oakesdale Ave. SW Project Expenditure SW project-Phase I. MOVED BY EDWARDS, SECONDED BY CLAWSON, COUNCIL ADOPT THE ORDINANCE AS PRESENTED. ROLL CALL: ALL AYES. MOTION CARRIED. x r CITY OF RENTON, WASHINGTON RESOLUTION NO. 3365 A RESOLUTION OF THE CITY OF RENTON, WASHINGTON, DECLARING PROPERTY SURPLUS, LOCATED ON THE NORTHWEST CORNER OF SOUTH 4TH STREET AND BURNETT AVENUE SOUTH, AND AUTHORIZING THE MAYOR AND CITY CLERK TO ENTER INTO AGREEMENTS TO SELL SUCH PROPERTY AT ITS FAIR MARKET VALUE. WHEREAS, the City of Renton, after a news release and publication of a public notice for public hearing, did hold on the 7th day of December, 1998, a public hearing to consider the issue of declaring certain real property surplus, such property being legally described in Exhibit A attached hereto and incorporated by reference as if fully set forth, and graphically depicted in Exhibit B, attached hereto and incorporated herein by reference as if fully set forth, such property being located on the northwest corner of South 4th Street and Burnett Avenue South; and WHEREAS, those members of the public who wished to testify were duly allowed to testify and their testimony was considered by the City Council; and WHEREAS, the City Administration is in the process of obtaining an appraisal of the value of this real property; and WHEREAS, the City Council has determined that the sale of this property is in the public interest, and that development of such property would further the policies of the City's Comprehensive Plan, and would be of a benefit to the citizenry of the City of Renton; and WHEREAS, the City Administration is in the process of obtaining a request for proposal on how to develop the property to be surplused; NOW, THEREFORE, THE CITY COUNCIL OF THE CITY OF RENTON, WASHINGTON, DO RESOLVE AS FOLLOWS: SECTION I. The above recitals are found to be true and correct in all respects. 1 t y RESOLUTION NO. 3 3 6 5 SECTION H. The property in question is hereby declared surplus. SECTION III. The Mayor and City Clerk are hereby authorized to sign the necessary documents to sell the property declared as surplus for development, consistent with the City's Comprehensive Plan and at fair market value. PASSED BY THE CITY COUNCIL this 7th day of December , 1998. Marilyn J. t s n, City Clerk APPROVED BY THE MAYOR this 8th day of December , 1998. Jes anner, Mayor oved as to form: 6�r Lawrence J. Warren, City Attorney RES.697:11/18/98:as. 2 Legal Description: Property at 339 Burnett Avenue South, Renton Lots 16 through 21, inclusive, Block 33 Smither's First Addition to the Town of Renton according to the Plat thereof recorded in Volume 9 of Plats,page 76, records of King County, Washington. EXCEPT that portion of said Lot 16 conveyed to the City of Renton for street, alley and any other public uses and purposes by deed recorded under Recording Number 7401170345. CAword\Iegal\Surplus\tgb 12/98 Surplus Propert— I L S 3rd St C/D a� C 4th :SC C 71 GtiT o Neighborhoods & Strategic Planning 100 200 + A + ED/N/SP "�� 0. Dennison 1 : 1 ,200 �'� .ro 8 December 1998 December 7, 1998 `AW Renton City Council Minutes Page 398 residents. Councilman Parker commented that this fee is estimated to be about $6,000 to$8,000 per single family home. Ben Reid, 14412 SE 128th St.,Renton,requested specific information on who will be responsible for paying for any sewers constructed in this area. Mayor Tanner offered to send Mr. Reid information on this subject. Mike Proulx, 14331 - 138th Ave. SE,Renton,responded to a comment made by Ms. Donnelly by clarifying that R-8 is a single family zoning category,not multi-family as was implied. There being no further public comment, it was MOVED BY PARKER, SECONDED BY NELSON,COUNCIL CLOSE THE PUBLIC HEARING. CARRIED. MOVED BY EDWARDS, SECONDED BY NELSON, COUNCIL ACCEPT THE 60%PETITION TO ANNEX THE EAST RENTON PLATEAU AREA, CONTINGENT ON APPROVAL FROM THE BOUNDARY REVIEW BOARD,AND AUTHORIZE THE ADMINISTRATION TO PREPARE AND SUBMIT A NOTICE OF INTENT TO ANNEX THIS AREA TO THE BOUNDARY REVIEW BOARD. CARRIED. (See page 403 for ordinance.) MOVED BY PARKER, SECONDED BY KEOLKER-WHEELER,COUNCIL REFER THE MATTER OF ZONING IN THIS AREA TO THE PLANNING& DEVELOPMENT COMMITTEE. CARRIED. EDNSP: Surplus Property, 339 The proper notices having been posted and published in accordance with local Burnett Ave S and state laws,Mayor Tanner opened the public hearing to consider surplusing of City-owned property at 339 Burnett Ave. South. Susan Carlson, Economic Development,Neighborhoods& Strategic Planning Administrator, explained that this approximately 27,000 square foot,primarily vacant, site was purchased in 1995 to provide additional property for the downtown transit center. Final plans for the transit center and the piazza have subsequently negated the City's need for this site. Numerous persons have expressed interest in purchasing this property for development. Given that the City's vision for the downtown involves urban densities and and an intensity of uses, including market rate housing and vibrant retail space, staff recommends that the property be sold for a mixed-use development consistent with the Renton's objectives for this area. Ms. Carlson added that staff recommends selling the property now since the market is still active and good quality developers would likely be interested in the site. Bill Kreager,Mithun Partners,described three ways in which the property could potentially be developed. Common factors among the three scenarios were three to four stories of high-density housing (62 units), with commercial uses on the ground floor and structured parking for residents. Mr. Kreager added that the successful proposal would have to consider how the adjoining alley,the neighborhood to the west, and Burnett Ave. S would all be affected. Ms. Carlson concluded that if Council approves surplusing this property, staff would advertise for requests for proposals for development. All proposals would be required to meet certain criteria as determined by the City;for example,they would have to address concerns of area neighbors relating to light and bulk. Audience comment was invited. December 7, 1998 fir+ Renton City Council Minutes Page 399 Jeff Dineen, 320 Smithers Ave. S.,Renton, 98055, submitted a petition containing eleven signatures expressing concern about this proposal. Mr. Dineen said although area neighbors had previously submitted a similar petition last April also regarding this subject, at which time they asked to be kept apprised of and involved in the process,no notice was given of the City's recent proposal until the day before Thanksgiving. He questioned whether the site must be sold quickly and added that the City has seemingly ignored the request of nearby residents that the property be considered for long-term parking rather than high density development. Mr. Dineen concluded that the three proposals described by Mr.Keager are unacceptable to the neighbors due to: the large volume of traffic projected for the alley; the height of the building,which would dramatically affect light and openness for existing property owners; and balconies on the alley side of the building would negatively impact privacy for residents to the west. Councilman Corman hoped that the City would listen to Mr.Dineen's ideas, especially as the property is still publicly owned at this time. He also suggested that the City give priority to development proposals that demonstrate mitigation of impacts to neighboring residents. Mayor Tanner stated that Renton's entire downtown core is zoned for high- density housing; thus all the development proposals will be required to include this as a component of the project. Responding to Councilmember Keolker-Wheeler, City Attorney Lawrence J. Warren said the City is not required to surplus the property before soliciting proposals for its development;however, it is possible that no proposals would be received unless the property was formally declared to be surplus. Mr. Warren added that Council will still have the opportunity to review the proposals before actually selling the site to a third party. The City would not have to accept any of the proposals if it judged none them all to be unsatisfactory. There being no further public comment,it was MOVED BY EDWARDS, SECONDED BY PARKER, COUNCIL CLOSE THE PUBLIC HEARING. CARRIED. (See page 403 for resolution.) Councilman Parker asked that letters of notification be sent to neighboring property owners keeping them informed of actions taken related to this site. Councilmember Keolker-Wheeler added that the residents should also be given a chance to provide input on the criteria developed for the request for proposals. ADMINISTRATIVE Chief Administrative Officer Jay Covington reviewed a written administrative REPORT report summarizing the City's recent progress towards goals and work programs adopted as part of its business plan for 1998 and beyond. Items noted included: The Recreation Division's Special Population Program hosted over 150 participants,volunteers,parents and friends at the annual Fall Sports Awards Banquet at the Renton Senior Activity Center. The Recreation Division also hosted the Washington Recreation and Park Association's 1998 Non-contact State Flag Football Tournament on December 5th and 6th. Firefighter Gary Harsh was named the department's 1998 Renton Firefighter of the Year. The rainstorm which occurred on November 25th was nearly a 25-year Nr.r t S Aje- 3. V N \-783930% U ;�.• ..1 ''N ��`4 Y9% I'' �' e...^� `.� � _ OO" •O c No a•�oiy3• .Np° L OONU.N 321 17; o g COVOL,aTTe BUR NETT AVE. 5. ao'(�`S+v 72 150 Ani"a�A "�• +3e _ o\ VOL. I-1 5 s Vicinity NT5 Development Criteria Zone CD Commercial Downtown Permitted Uses Multi-family, Commercial Site Area Approx. 27,200 SF (0.62 acre) Minimurn Density 25 units per acre (16 units) Maximum Density 100 units per acre (62 units) Zoning Height 95' maximum U.B.C. Height 50' maximum Setbacks No setbacks required No setbacks over 40' - assumed Lot Coverage Unlimited Landscaping Downtown Core - Exempt Parking Downtown Core - Exempt 4th & Burnett In Development Study ,� MIpTHUN NNW Z Building Sections V,20.,0. 77) Typ. Residential Level Plan Upper Level Plan Main Floor Plan 4th & B urnett 1 F3 ti lir, Development Study CSI PHL 1 1 1 1 t t 1 1 Building Sections 61 „ 4� ieo O ieo ee �( t P 'Fyp. Residential Level Plan ,. 2C..C. F Upper Level Plan 2'-C ,f x � � I a Main Floor Plan 4th & Burnett Development Study - ��' ,irTIiUh tP I .,ice 9LA xA gAtApe 1�eo �rrx F�+.cr Au`'f Building Sections pec © ZSn 160 169 ISD 16c y C) f iso I>o .r„9.v Ino �' Ly; Typ_ Residential Level Plan 2C-0 'T s. .I G Ij a 4 Clb 7 4G4411C� `pB♦v % or LoBev Upper Level Plan 17/ r. t S,ioo sF L✓�b9`^, Main Floor Plan 4th & Burnett - Development Stud- `" ..'. r, n M IST HDU 0 Dec . 7, 1998 The City of Renton 1055 South Grady Way Renton , Wa 98055 Dear Mayor and City Council , The property owners on the 300 Block of Smithers Ave South would like to publicly voice our collective concern about the proposed sale and development of the city owned property located at the corner of 4th and Burnett , formerly known as the Good Chevrolet truck piazza. We have concerns regarding the City's narrow focus for this property . In our April petition to the City Council , we requested that " the City consider ALL possible uses for this property including long term parking" . Since this petition our only contact with the City concerning this property was the Nov . 30th meeting at which time three versions of the same plan for high density housing were presented with no discussion of alternative uses for the property . We feel that this action on the part of the City does not respect our April petition request and reinforces our Impression that the City has only one vision for the property . We again request that the City consider ALL possible uses for this property including long term parking. We question the timing of this action . Property owners were notified of the Nov. 30th meeting during the Thanksgiving weekend with the meeting scheduled on the following Monday with City Council action scheduled for the next Monday. We question the need for such a speedy timeline for property which has been setting vacant for 2 years. Why not wait to see the success of the Dally project and the nature of the Boeing downturn before committing to such development . We have concerns regarding the soft and unstable nature of the soil in this area and its appropriateness for a project of this magnitude. We find the three proposals presented at the Nov 30th meeting unacceptable for the following reasons. (1) The alley access to the parking garage . A garage for 80 to 90 cars will generate about 200 car trips daily . There is no way that the alley will be able to absorb that volume of traffic while allowing current property owners reasonable access to their properties. (2) The height of the proposed building will dramatically impact light and openers for existing properties. (3) The sketches showing balconies on the alley side of the building. Five layers of balconies on the alley side of the building would dramaticlly impact privacy for existing homeowners. (4) The impact Ifte property values for ne Sboring single family homes. We feel strongly that ' any and all attemps are made to minimize the impact on neighboring property owners with regards to the future development of this property and we look forward to working with the City to insure that all parties interest are best served. J 33 � � S f - �;Q,�'..P.�... N, INVOICE 30655122 Seatkle `' Daily Gf ourn f Commerce BOX 11050, SEATTLE,WA 98111 206-622-8272•FAX 206-622-8416 BILLING DATE TOTALAMOUNT DUE PAYMENT DUE BY 01/15/99 165. 20 02/14/99 Clty Of Renton BILLINGPERIOD FROM: 01/15/99 TO: 01/15/99 Office Of City Clerk ACCOUNT NO. 1055 S GRADY WAY AMT.ENCLOSED Renton WA 96055 3027 DUPLICATE L F PLEASE RETURN THIS PORTION WITH YOUR PAYMENT L J DATE REFERENCE DESCRIPTION DIMENSIONS TIMES BILGED U/M RATE BALANCE NUMBER UNCTST 01/08/99 100876 CN: PROPERTY SALE 1x59. 00 2 1. 400 165. 20 335 BURNETT AVE S. PO #WALTON, BONNIE FEDERAL TAX I. D. #91-0193790. PLEASE • AY 165. 20 Seattle Daily Journal of Commerce Office: 83 Columbia St., Seattle P.O. Box: 11050 • Seattle, WA 98111 206 622-8272 • FAX 206 622-8416 April 20 , 1998 The City of Renton Municipal Building 200 Mill Ave So Renton , WA 98055 Dear Mayor and City Council , We the undersigned property owners on the 300 Block of Smlthers Ave South would like to publicly voice our collective concern about the future sale , development and use of the city owned property located at the corner of 4th and Burnett , formerly known as the Good Chevrolet truck plaza. Our concern centers on the fact that this property interfaces an area that has historically been devoted to single family dwellings. A character that the City help to foster in the 70's and 80's through low interest home improvement loan^. We feel strongly that : (1) any development of the forementioned property reflect and respect the nature of this interface , (2) any and all planning concerning this property be made available and open to all parties of interest , (3) the City consider ALL possible uses for this property including long term parking, a need that has been well documented numerous times for the down town area, (4) any decision for long term use or sale of the property be made by a representative group which includes representation from neighboring property owners. We are well aware and supportive of the need for change and development In the down town area, but we are also concered about ma!ntaining the quality of life that we have worked to develope. We look forward to working with the City to Insure that all parties Interests are best rved In regards to this matter. Y,Z h L SlncerelY, .31 S sem,i11` nes _S �3�� iii Perls . S CITY OF RENT(r DEC p 11998 RE GTY -ERCEIVED K'S OFFICE CITY OF RENTON ECONOMIC DEVELOPMENT, NEIGHBORHOODS, AND STRATEGIC PLANNING MEMORANDUM DATE: December 1, 1998 TO: Bob Edwards4Presid Renton City C VIA: Mayor Tanne FROM: Sue Carlson,Admmistrator) -0 SUBJECT: Open House About Downtown Surplus Property at 339 Burnett Ave. S. An open house was held between 5 PM and 7 PM on Monday, November 30, 1998 to show interested neighbors possible development scenarios for the 25,300 square foot site at the northwest corner of the intersection of S. 4th Street and Burnett Ave. South. All property owners within 300 feet of the site were notified of the open house. In addition, all the residents who had signed a petition in April of this year to the Mayor and City Council on the future development and use of the City owned property were contacted(see attached list). Six visitors signed in. Of these six, three filled out comment forms on the proposed surplusing of the subject site and its possible development. Bill Kreager, of Mithun Partners, provided examples of three possible mixed-use commercial/residential development scenarios each having approximately 62 dwelling units above ground level commercial space. Of the three comments received, two were supportive of the City selling the property for a mixed-use residential/commercial development. There was a feeling that if the site were developed in a sensitive way the impacts to the residents across the alley at the rear of the site would be considerably less than if a large, single-use, commercial type building were developed. Both types of development are allowed under the current zoning. One of those commenting said that he represented IOOF Lodge No. 8,which feels there is insufficient long-term parking in the area and that the City should retain the site for long-term public parking. Other comments heard were that the City should ensure that future development of the site meets City objectives for the revitalization of the downtown and that additional market rate housing would move the City closer to the goal of the downtown becoming an urban mixed-use neighborhood. Attached is a list of property owners who were notified in addition to the 16 individuals in the 300 block of Smithers Avenue S. who signed the petition last April. Please contact Don Erickson if you have any questions regarding our notification process or the open house. Attachment: Mailing list and petition signers notified. cc: Mike Kattermann Don Erickson \\TS_SERVEMSYS2:\COMMON\-C:\WINWORD\MEMOS\OPENHOUS.DOCUrp 723150235007 783980014006 723150227103 ARNOLD JACK G AWARENESS OF LIFE CHURCH BANK OF AMERICA NT&SA 10805 GLEN ACRES DR S 311 SMITHERS S 05297-001 C/O TAX DEPT#10067-5R SEATTLE WA 98168 RENTON WA 98055 PO BOX 37000 SAN FRANCISCO CA 94137 783930029500 783930029005 783980012000 BASQUETTE KAISHA ANN BERGEMANN CHARLIE A BINA GEORGE J+NADINE E 340 SMITHERS AVE S 336 SMITHERS AVENUE SOUTH 329 SMITHERS AVE SOUTH RENTON WA 98055 RENTON WA 98055 RENTON WA 98055 182305905206 f 783930031506 000720018803 BURLINGTON NORTHRN SANTA FE CITY OF RENTON CITY OF SEATTLE TAX DEPT 200 MILL AVE S 0 1700 E GOLF RD#400 RENTON WA 98057 SCHAUMBURG IL 60173 783930027504 783980012505 723150232004 DINEEN JEFFREY DODSON HOYT COMEAUX ELEANOR DOBSON TRUST 320 SMITHERS AVE S 321 SMITHERS AVE S . 1ST INTERSTATE BK-PO BOX 1997 RENTON WA 98055 RENTON WA 98055 TACOMA WA 98401 723150233002 150580004003 150580003005 ERICKSON ALICE REIMAN FAULL GARY F FAULL GARY F+JANICE L 7600 SE 29TH#201 PO BOX 26 321 BURNETT AVE S#401 MERCER ISLAND WA 98040 RENTON WA 98055 RENTON WA 98055 723150239009 783930028502 783930030003 FRANK R VAISE POST 1263 FRANKEL MICHAEL B GOLLIER TYRONE B 416 BURNETT AVE S 04254-001 PO BOX 2275 PO BOX 128 RENTON WA 98055 TOLUCA LAKE CA 91610 RENTON WA 98057 783930023008 723150238001 783980013008 GOOD PARTNERSHIP HALSEN RON&ROSEMARY JOHNSON RAY N&JULIE A C/O LORING DAVID 707 S 4TH ST 18808 SE 170TH ST 613-A S 3RD ST RENTON WA 98055 RENTON WA 98058 RENTON WA 98055 723150230008 783980011002 783930028007 KELSON WESLEY R LAM MUI C+VONG NHI C LODGE RENTON NO 8 10 O F %KERSTEN ASSOC 2321 22ND AVE S 324 SMITHERS AVE S 833 108TH AVE NE SEATTLE WA 98144 RENTON WA 98055 BELLEVUE WA 98004 783980013503 723150248000 783930027009 LOEBE DAVID A MCCORMICK TIMOTHY J+KIMBERL MINER JEFFREY A+LISA D PO BOX 996 15531 SE 168TH ST 316 SMITHERS AVE S RENTON WA 98057 RENTON WA 98058 RENTON WA 98055 783930025003 783980010004 783930026001 NELPAR NEWMAN ROBERT E+DIANE M OHNEMUS PAUL D P O BOX 461 341 SMITHERS AVE S 312 B SMITHERS REDMOND WA 98073 RENTON WA 98055 RENTON WA 98055 `'err' 783930016507 783980014501 723150237003 PICKUP LYDIA I REGIS JOE RENTON COMMERCE CENTER L L 605 HOUSER WAY S 505 4TH AVE P 0 BOX 1113 RENTON WA 98055 RENTON WA 98055 RENTON WA 98057 783930034005 723150238506 783980000500 ROBERTS J BERT SENS GENE P+HUONG T SUNLITE RESTAURANT INC 280 HARDIE AVE SW#4 7259 S SUNNYCREST RD 509 S 3RD RENTON WA 98055 SEATTLE WA 98178 RENTON WA 98055 783980011507.' � 783930012506 150580001009 THUMLERT BARBARA ELLEN TUCKER MITCHELL F+VALERIE J VERSIDATA SYSTEMS INC 17576 12TH NE 13041 175TH AVE SE 321 BURNETT AVE S#200 SEATTLE WA 98155 RENTON WA 98059 RENTON WA 98055 783930013009 783930015509 WHITE STEVEN M ZANDT JOHN ALVIN BENSON ROBER 5963 RAINIER AVE S 500 WALL ST STE417 SEATTLE WA 98118 SEATTLEWA 98121 , We feel strongly th ,,,: (1) any development of the forementioned property reflect and respect the nature of this Interface , (2) any and all planning concerning this property be made available and open to all parties of interest , (3) the City consider ALL possible uses for this property including long term parking, a need that has been well documented numerous times for the down town area, (4) any decision for long term use or sale of the property be made by a representative group which includes representation from neighboring property owners. We are wel'1 aware and supportive of the need for change and development in the down town area, but we are also concered about maintaining the quality of life that we have worked to develope . We look forward to working with the City to Insure that all parties Interests are best rved In regards to this matter . Sincerely, POW �am � m ia� °' oE�m rnc) J N _CL C Ute. Q p..p D co CL f0 , CL ED �u m c m";s o-75o 7 &LLIC 0 C ca: facccv Q) (U z Lu C: p��r0 0 gco �rn�= y 0> m c cv > o v`oi Lut)'f O> r?> to L m CL = N _C a f= dRsc CL m s� oa �o O CO m. Lam•$ �•6.0 cn j_ n0L C _f) �a Zro COIR " m o��m6U¢ mmt0 �� m`�a' > N cn O > C = D (p C;) � • �- O wc � U aY-0 M EN � � :IF � � cn O N X 5 O V U O O Y N co O CC L -C E U LW ~ O O co � 7 iy,l C -i JX O Z CZ N .' � U) N c O r L N C Q. O — O � O U) � cu O J ° (n E 705) (DC cC bD N ` -C C O 2 00 > a ° r-n V acQco -0 -0 0 o cv " s � ° J p3O Co 5 >-i 3aa°i ° � `° moCL o 0 ca 0 c U 3 O � a 0 O Y x v c ID N p > � � - ai 3 � � U � o) o c c s ¢ vaNO cv � cis U C Y cc E 0 0 c co -o a, CO W ; C N O `O �L- CD J N Z Y C co m -0 VO m w N O \ OO p N C U 0 � y co 0) Y O 0) p co O N a p d D �' Q C .0 co CLS r .'C i p ap O ��1111111ilppoo CD C O co 0 0 c r � 3 � r i o'oo ZIP cm C _ n ca C O C O7 > > Z V ` O C O 'C a 0. N 0) J M C O . U 7 (n '07 "O (n fti J U.S. POSTAL SERVICE ' ✓ PS FORM 3547 *a �v. a E CD ^ 4.�_..,. D $ � 0 N ►� cc PH CL ol m ►� n m' L ; Z CD o �D w ii coa 0 =oo rt LAn ROS O � o O txp c < IV Z Dz°o c r^-, 00 -i ,[Mrn a CO arnA e co t,rw c m tclw q tr � _. h m . r Cl — a op V C TI ch-- _ wa m n "'• Z m w y - .. T m o m N d CL y y 9 O � m 7 m �c < O CD m O w A o C C m oro 00 � O t7l 00 NO ytD C 3 00 ,. n r_Gr ^i _ Po , = i.n FIs lit O v mz rn rn I UI rn rtrtrtrtrtrtrtrtrtrtrtrt FR] _ n 7D 1T �V [✓J TC' r-1r D NCCJ v a ~ o CD 0. 6 m o m o M m � v C t CC 3 7Y O m An � O � y n 9 0 N l Y o �. o 9 y 0 � O 00 o � d 4� - Ri `` s " O ILA m ,, Michele Neumann From: Marilyn J. Petersen To: Bonnie Walton; Michele Neumann Subject: FW: Corrected Address for POR for Surplus Public Hearing Date: Wednesday, December 02, 1998 8:20AM From: Judy Wright To: Marilyn J. Petersen Subject: Corrected Address for POR for Surplus Public Hearing Date: Tuesday, December 01, 1998 4:55PM Please send the following a copy of the notice of public hearing for the Surplus Property: Thede Edna M 531 Pelly Avenue N. Renton, WA 98055-1426 Schultz Jeanette M N 4206 SE 2nd Place Renton, WA 98059-5153 Would you please send us a copy of the notice as well. Thanks. Page 1 LOCATIONS OF POSTINGS DONE ON 11 --36 , 19 1. &vn-eff 2. Ll 3' 4 �7 7 4. UeI . ' , 6. Z/d CERTIFICATION STATE OF WASHINGTON) ss COUNTY OF KING ) I �<<'�7ad��t%� HEREBY CERTIFY THAT COPIES OF THE ATTACHED NOTICE WEREP08TED BY ME ON THE PROPERTY DESCRIBED ABOVE ON DATE OF SIGNED SIGNED NOTARY SUBSCRIBED AND SWORN TO BEFORE ME this �S� day of ; 19 Notary Public in and for the State of Washington, residing at (COPIES OF THE ATTACHED NOTICE WERE FORWARDED TO THE MAIN AND HIGHLANDS LIBRARY AND POSTED AT THE RENTON MUNICIPAL BUILDING, 1055 SOUTH GRADY WAY, RENTON, WA BY CITY CLERK STAFF.) low NOTICE RENTON CITY COUNCIL PUBLIC EARING ON DECEMBER 7, 1998, AT 7:30 P.M. RENTON MUNICIPAL BUILDING COUNCIL CHAMBERS 1055 SOUTH GRADY WAY To consider surplus of City-owned property consisting of 25 ,300 square feet located at 339 Burnett Ave. S . (northwest corner of S . 4th St. and Burnett Ave. S .) ii [--Lj 3 , 1 St i l S 3rd v D CL NFu CD ., LA �' A a> L U o C� �5e a �3 C CD t 4th St CD CD C d P CD(P) 771 S 5th St qq S 5th St �St^t� �H H — L=I i All interested parties are invited to attend and present written and/or oral comments. Complete legal description&further information available in the City Clerk's Office-430-6510 The removal, mutilation, destruction, or concealment of this notice is a misdemeanor Warning. punishable by fine and imprisonment. 783930016507 vmv, 783980014501 �.► 723150237003 PICKUP LYDIA I REGIS JOE RENTON COMMERCE CENTER L L 605 HOUSER WAY S 505 4TH AVE P O BOX 1113 RENTON WA 98055 RENTON WA 98055 RENTON WA 98057 783930034005 723150238506 783980000500 ROB S J BERT SENS GENE P+HUONG T SUNLITE RESTAURANT INC 280 HA AVE SW#4 7259 S SUNNYCREST RD 509 S 3RD RENTON WA 98055 SEATTLE WA 98178 RENTON WA 98055 s)� f�1 10 ID P-,X, r /ry S 783980011507 783930012506 150580001009 THUMLERT BARBARA ELLEN TUCKER MITCHELL F+VALERIE J VERSIDATA SYSTEMS INC 17576 12TH NE 13041 175TH AVE SE 321 BURNETT AVE S#200 SEATTLE WA 98155 RENTON WA 98059 RENTON WA 98055 783930013009 783930015509 WHITE STEVEN M ZANDT JOHN ALVIN BENSON ROBER 5963 RAINIER AVE S 500 WALL ST STE417 SEATTLE WA 98118 SEATTLEWA 98121 _ �wr 723150235007 783980014006 723150227103 ARNOLD JACK G AWARENESS OF LIFE CHURCH BANK OF AMERICA NT&SA 10805 GLEN ACRES DR S 311 SMITHERS S 05297-001 C/O TAX DEPT#10067-5R SEATTLE WA 98168 RENTON WA 98055 PO BOX 37000 SAN FRANCISCO CA 94137 783930029500 783930029005 783980012000 BASQUETTE KAISHA ANN BERGEMANN CHARLIE A BINA GEORGE J+NADINE E 340 SMITHERS AVE S 336 SMITHERS AVENUE SOUTH 329 SMITHERS AVE SOUTH RENTON WA 98055 RENTON WA 98055 RENTON WA 98055 182305905206 783930031506 000720018803 BURLINGTON NORTHRN SANTA FE CITY OF RENTON CITY OF SEATTLE TAX DEPT 200 MILL AVE S 0 1700 E GOLF RD#400 RENTON WA 98057 SCHAUMBURG IL 60173 783930027504 783980012505 723150232004 DINEEN JEFFREY DODSON HOYT COMEAUX ELEANOR DOBSON TRUST 320 SMITHERS AVE S 321 SMITHERS AVE S 1ST INTERSTATE BK-PO BOX 1997 RENTON WA 98055 RENTON WA 98055 TACOMA WA 98401 723150233002 150580004003 150580003005 ERICKSON ALICE REIMAN FAULL GARY F FAULL GARY F+JANICE L 7600 SE 29TH#201 PO BOX 26 321 BURNETT AVE S#401 MERCER ISLAND WA 98040 RENTON WA 98055 RENTON WA 98055 723150239009 783930028502 783930030003 FRANK R VAISE POST 1263 FRANKEL MICHAEL B GOLLIER TYRONE B 416 BURNETT AVE S 04254-001 PO BOX 2275 PO BOX 128 RENTON WA 98055 TOLUCA LAKE CA 91610 RENTON WA 98057 783930023008 723150238001 783980013008 GOOD PARTNERSHIP HALSEN RON&ROSEMARY JOHNSON RAY N&JULIE A C/O LORING DAVID 707 S 4TH ST 18808 SE 170TH ST 613-A S 3RD ST RENTON WA 98055 RENTON WA 98058 RENTON WA 98055 723150230008 783980011002 783930028007 KELSON WESLEY R LAM_MUI C+VONG NHI C LODGE RENTON NO 8 10 O F %KERSTEN ASSOC 2321 22ND AVE S 324 SMITHERS AVE S 833 108TH AVE NE SEATTLE WA 98144 RENTON WA 98055 BELLEVUE WA 98004 783980013503 723150248000 783930027009 LOEBE DAVID A MCCORMICK TIMOTHY J+KIMBERL MINER JEFFREY A+LISA D PO BOX 996 15531 SE 168TH ST 316 SMITHERS AVE S RENTON WA 98057 RENTON WA 98058 RENTON WA 98055 783930025003 783980010004 783930026001 NELPAR NEWMAN ROBERT E+DIANE M OHNEMUS PAUL D P O BOX 461 341 SMITHERS AVE S 312 B SMITHERS REDMOND WA 98073 RENTON WA 98055 RENTON WA 98055 �Y ti O WA r �O N rr OFFICIAL NOTICE , Public Hearing on Surplusing City Owned Property at 339 Burnett Ave S. 7:30 PM, Monday, December 7, 1998 Renton Council Chambers, 7th Floor, Renton City Hall 1055 Grady Way S Renton, WA A public hearing will be held at 7:30 PM on December 7, 1998 in the City of Renton Council Chambers on the 7th floor of the new Renton City Hall at 1055 Grady Way S. to hear testimony regarding the surplusing of City-owned property at the northwest corner of the intersection of S. 4th Street and Burnett Avenue South. The site was acquired in 1995 for Renton's new transit center which is now being built in the block to the north along Burnett Avenue South. Since the site will no longer be required for Renton's new transit center it is being considered for surplusing where it would be sold at fair market value. Subsequent development would comply with Renton's Center Downtown(CD) Zone and probably be a mixed-use development of some sort. Interested parties are invited to attend this public hearing and give testimony on this potential governmental action and future development of the site. For further information please contact City staff at(425)430-6581. PBLKHEAR.DOG CITY OF RENTON ter.► NOTICE OF PUBLIC HEARING RENTON CITY COUNCIL NOTICE IS HEREBY GIVEN that the Renton City Council has fixed the 7th day of December, 1998, at 7:30 p.m. as the date and time for a public hearing to be held in the seventh floor Council Chambers of the Renton Municipal Building, 1055 S. Grady Way, Renton, 98055, to consider the following: Surplus of City-owned property consisting of 25,300 square feet located at 339 Burnett Avenue South (northwest corner of S. 4th Street and Burnett Avenue South). All interested parties are invited to attend the public hearing and present written or oral comments regarding the proposal. The Municipal Building is fully accessible, and interpretive services for the hearing impaired will be provided upon prior notice. Call 430-6510 for additional information. Marilyn e en City Clerk Published South County Journal November 27, 1998 Account No. 50640 �Y ti o • ,A OFFICIAL NOTICE Public Hearing on Surplusing City Owned Property at 339 Burnett Ave S. 7:30 PM, Monday, December 7, 1998 Renton Council Chambers, 7th Floor, Renton City Hall 1055 Grady Way S Renton, WA A public hearing will be held at 7:30 PM on December 7, 1998 in the City of Renton Council Chambers on the 7th floor of the new Renton City Hall at 1055 Grady Way S. to hear testimony regarding the surplusing of City-owned property at the northwest corner of the intersection of S. 4th Street and Burnett Avenue South. The site was acquired in 1995 for Renton's new transit center which is now being built in the block to the north along Burnett Avenue South. Since the site will no longer be required for Renton's new transit center it is being considered for surplusing where it would be sold at fair market value. Subsequent development would comply with Renton's Center Downtown(CD) Zone and probably be a mixed-use development of some sort. Interested parties are invited to attend this public hearing and give testimony on this potential governmental action and future development of the site. For further information please contact City staff at(425) 430-6581. PBLKHEAR.DOC/ pQ "0010 ooh0 059 �► m 7 to 1 cn R o q > N J 2� p D k OtV 22 = w 9 AB00v 150580p o,�°� w d ; 5 t` - > Z Q al U °oaf �— 00c azo o a 0 �t• /B 07,1 00 . 3 ag�1�oG�6, Ot a p�gr7 _j/ � 2! A I 0 k0o ll = 4o�aa 1 03518 Q m 12a o 'z° tl 5o b°417 ' A 10009 a 7 uio 20 , m� " ///.B� 7 n0 o p p0113 .90 s�' w9 z4 ek6l ' ' �3508 'I 'r3osgosx�-+ , ab6iga5io...v yw»roass�. g�2 �hly 73o31so�r9 ;/• 4o qo fy�` 3 Z / '� %e o i � a q h �dOD N ©�j 0 12p g� V3 460 4 Os /69 9 w �0� qtr O M� m a tll3Q h qu) v 1324. 13 T - q.� a . v Q1 uof6 CJ. � 1° 5lb ypD`�y1N 1pO3„/1 sus 3h6 ( `� 0 M� 4p 4° 40 l �' \9 ��'`� °�` izo 0 "' 4749 27 3a 30 q�10 Q�¢o o 17 off' �r N- k N _ ax ao'7 h o ��p4 ` opo X30" 04� �galgy goa 4° 4v : OX 4 iso d 2 4 ° 8°000 0 fn 'err✓ CITY OF RENTON OFFICIAL PUBLIC HEARING NOTICE REGARDING POTENTIAL SURPLUSING OF CITY- OWNED PROPERTY AT 339 BURNETT AVE. S. A public hearing will be held at 7:30 PM on December 7, 1998 in the City of Renton Council Chambers on the 7th floor of the new Renton City Hall at 1055 Grady Way S. to hear testimony regarding the potential surplusing of City-owned property at the northwest comer of the intersection of S. 4th Street and Burnett Ave. S. The site was acquired in 1995 for Renton's new transit center which is now being built in the block to the north along Burnett Avenue S. Since the site will no longer be required for Renton's new transit center it is being considered for surplusing where it would be sold at fair market value. Subsequent development would comply with Renton's Center Downtown (CD) Zone and probably be a mixed-use development of some sort. Interested parties are invited to attend this public hearing and give testimony on this potential governmental action and future development of the site. For further information please contact City staff at(425)430-6581. .d Q 44 44 40 40 44 4 24 7 o 0540 23' �o ro peoap 150580zo a Q =5 c 33 iz g A605 1q5 K O ° � N 8 doyw° /2o So ti9 0 /7 /¢ A9°q/J bj01°0 109 0,/7 9.lBn ga p} � /iF BG -ry,ti opo J° 90 o I1 p30� 16 24 X•.5 s o s' /6zs "lx' '} w—•.e.ae4ia,v•. ...fie, fj.4'(�1 911•'./ � 6-,* 42 cht5 13°: I — pY01= n 4THPLCTN.DOC/ November 23, 1998 Via° Renton City Council Minutes i,,,/'° Page 387 Renton, 98059,Deborah Lea Hansen, 807 S. 32nd St.,Renton, 98055,and Doug Kyes, 3924 NE 11th Pl.,Renton, 98059. Council concur. EDNSP: Declaration of Economic Development,Neighborhoods& Strategic Planning Department Surplus Property (339 Burnett recommended that a public hearing be set for December 7, 1998 to take Ave S) testimony on a proposal to declare City-owned property at 339 Burnett Ave. S. " A— • as surplus. Council concur. Annexation: East Renton Economic Development, Neighborhoods& Strategic Planning Department Plateau recommended a public hearing be set for December 7, 1998,on the 60% Petition to Annex 193 acres adjacent to the existing City limits on the East Renton plateau. Council concur. Budget: 1998 Final Finance&Information Services Department recommended approval of final Amendments 1998 Budget amendments in the total amount of$7,567,000. Refer to Finance Committee. Streets: Logan Ave S Transportation Systems Division requested authorization to temporarily close Temporary Closure(S 2nd to S Logan Ave. S.between S. 2nd and 3rd Streets for approximately three months 3rd) beginning December 1, 1998, for road reconstruction. Council concur. (See agenda item 10. for resolution.) MOVED BY EDWARDS, SECONDED BY, COUNCIL APPROVE THE CONSENT AGENDA AS AMENDED TO REMOVE ITEM 7.d.FOR SEPARATE CONSIDERATION. CARRIED. Separate Consideration Finance &Information Services Department submitted proposed ordinance Item 7.d. approving the property tax levy for general governmental funds and voter- Finance: 1999 Property Tax approved bond issues. Ordinance Council President Edwards suggested that this item be considered in conjunction with all the other 1999-2000 budget items now before the Committee of the Whole. Emphasizing that he knew of no dissension with the Administration's property tax proposal, he nevertheless felt that,as this matter involves the budget,it should be included in that process. MOVED BY PARKER, SECONDED BY KEOLKER-WHEELER,COUNCIL REFER THIS ITEM TO THE COMMITTEE OF THE WHOLE. CARRIED. CORRESPONDENCE Correspondence was read from Craig Larsen,Director,King County King County: Elimination of Department of Parks&Recreation, announcing the proposal to eliminate King Park Patrol Operations County park patrol operations effective January 1, 1999. Finance: Pull Tab Tax A petition with 30 signatures of Renton-area pull-tab operators was read, (Petition) requesting that the City reduce its pull tab receipts tax from 5%of gross receipts to 7%of net receipts. MOVED BY PARKER, SECONDED BY CORMAN,COUNCIL REFER THE PETITION TO THE FINANCE COMMITTEE. CARRIED. OLD BUSINESS Community Services Committee Chair Nelson presented a report regarding the Community Services proposed contract with the Renton Reporter to print and distribute CitySource. Committee CitySource,our monthly external newsletter, was established to enhance Executive: Contract with communication between City government and the Renton business and Renton Reporter for residential community. The basic goal is to inform Renton residents of current CitySource issues, upcoming events and important information about the City. The City requested proposals to print and distribute CitySource. A proposal was received from the Renton Reporter. Since 1995,the City has used the Renton Reporter for advertising timely information to our residents in a cost- effective manner. Two recent surveys(the pool survey and cable channel 28 TY OF RENTON COUNCIL AGENDA. L AI#: tl.�o - Submitting Data: For Agenda of: DepuDiv/Board.. Economic Development, Neighborhoods, Strategic November 23, 1998 Planning Staff Contact...... Sue Carlson(ext. 6591) Agenda Status Consent.............. X Subject: Public Hearing... Correspondence.. Surplus of City Owned Property at 339 Burnett Avenue S. ordinance............. Resolution............ X Old Business........ Exhibits: New Business....... Study Sessions...... Issue Paper, Key Dates Schedule, Site Location Map Information......... Recommended Action: Approvals: 1) Establish a public hearing date for December 7, 1998 for public Legal Dept......X... testimony regarding disposition of City owned property at 335 Finance Dept...... Burnett S.; and, Other............... 2) Following hearing, adopt resolution declaring subject site surplus and authorizing Administration to enter into agreements leading to its disposition and sale at fair market value. Fiscal Impact: Expenditure Required... N/A Transfer/Amendment....... Amount Budgeted.......... N/A Revenue Generated......... Total Project Budget N/A City Share Total Project.. Summary of Action: Council needs to declare as surplus the City-owned site at S. 4th Street and Burnett Avenue S. This site was previously acquired for transit center use but is no longer needed for that purpose. Prior to disposing the subject site the City is required to hold a public hearing and obtain an appraisal of the property. The Administration is requesting authorization to proceed with actions necessary for the early disposition and selling of this site at fair market value. STAFF RECOMMENDATION: Establish public hearing date for December 7, 1998 to allow public input and adoption of resolution declaring City-owned site at 335 Burnett Avenue S surplus and authorizing Administration to enter into agreements leading to its early disposition and sale at fair market value. Document2/ `••• CITY OF RENTON ECONOMIC DEVELOPMENT, NEIGHBORHOODS, STRATEGIC PLANNING MEMORANDUM DATE: November 16, 1998 TO: Bob Edwards, President City Council Members VIA: C/ Mayor Jesse Tanner FROM: Sue Carlson, Administrator , Economic Development,Neighborhoods, Strategic Planning STAFF CONTACT: Don Erickson(430-6581) SUBJECT: South 4th Street and Burnett Avenue South City-owned Site Disposition ISSUE: The Administration seeks authority to surplus the City-owned site at the northwest corner of S. 4th Street and Burnett Avenue S. that was purchased in 1995 to provide additional property for the transit center. Because of the finalization of plans for the downtown transit center and downtown piazza at South Third Street and Burnett Avenue South, the City no longer requires this parcel. Therefore, the site should be surplused to the private sector for a mixed-use development consistent with the Center Downtown zoning designation and policies in the City's Comprehensive Plan. A public hearing is required to receive public input on the City's proposal to surplus this property. RECOMMENDATION: • That the Council hold a public hearing to take testimony regarding the surplusing and disposition of City-owned property at 339 Burnett Avenue South; and • That the Council declare the subject site surplus and authorize the Administration to enter into agreements leading to the disposition and selling of the approximately 25,300 square feet City-owned site at the northwest corner of the intersection South 4th Street and Burnett Avenue South. It is assumed that the site will be developed with a mixed-use development consistent with the City's stated objectives and policies for its Downtown Center. BACKGROUND SUMMARY.- In UMMARY:In 1995 the City of Renton purchased the subject site at the corner of South 4th Street and Burnett Avenue South to provide for a transit center originally planned for the vicinity of South 3rd Street and November 12, 1998 Page 2 %W ter►: South 4th Street along Burnett Avenue S as a part of its Downtown Revitalization Plan. The transit center site later shifted to its present location north of South 3rd Street so that the subject site was no longer needed. This Plan, adopted in 1993, envisioned downtown having residential, commercial entertainment, and retail uses. It outlined a number of elements including market rate housing, vibrant retail space, a downtown plaza, a transit center, and enhanced public amenities. As a first step in making the 1993 Plan a reality, the Council, in 1995 approved the creation of the Automall to facilitate the relocation of auto dealerships out of the downtown core. This allowed the purchase by the City of some of these downtown properties vacated by the car dealerships. The subject site was formerly used for truck sales. Another of these City acquired sites was surplused in 1998 for a mixed-use retail/residential project providing 110 units of market rate housing, 4,600 sq. ft. of retail space and structured parking. Two other City acquired sites have plans currently being finalized, one for a transit center, and,the other for a downtown public square or"piazza". City staff now believe that it is the appropriate time, given attractive interest rates, the public amenities now being planned and constructed in the downtown, and the construction of new market rate housing in the downtown, to place the corner site at S. 4th Street and Burnett Avenue South on the market for a mixed-use retail/residential type development. Such a development is supported by Regional Growth Policies and the designation of Renton's Downtown as an "Urban Center". Specific policies in the Downtown Element of Renton's Comprehensive Plan, for example, note that the Center Downtown "should strive for urban density and intensity of uses", "walk-in customer-oriented businesses should also be encouraged to locate along street frontages". The Center Downtown Zone allows multi-family residential uses in mixed-use buildings at densities between twenty-five (25) and one hundred (100) dwelling units per net acre. Building heights up to ninety-five feet (95') are allowed (except where controlled by FAA limitations) and lot coverage up to one-hundred percent (100 %) is allowed since the subject site is located in the Downtown Core. November 12, 1998 Page 3 r..r Key Dates Downtown Development Project S. 4th Street and Burnett Avenue S. Property Fall 1993 • Downtown Plan approved by City Council Winter 1995 • Automall Concept approved by City Council Spring 1995 . City purchases former Good Chevrolet truck plaza site at S. 4th Street and Burnett Ave. S. Summer 1998 . Plans finalized for transit center along Burnett between S. 3rd Street and S. 4th Street and mid-block between Burnett and Logan Avenues Fall 1998 • Administration determines that site not needed for transit center November 1998 • Public Open House regarding surplusing of site December 7, 1998 • Public Hearing regarding surplusing of site • Council resolution adopted declaring site surplus and authorizing Administration to proceed with early disposition leading to its sale at fair market value December 1998 • Property appraisal January 1999 • Public notification to interested parties February 1999 • Negotiations with purchaser • Purchase and sell agreement signed ISSUE.DOTI November 12, 1998 Page 3 Key Dates Downtown Development Project S. 4th Street and Burnett Avenue S. Property Fall 1993 • Downtown Plan approved by City Council Winter 1995 • Automall Concept approved by City Council Spring 1995 . City purchases former Good Chevrolet truck plaza site at S. 4th Street and Burnett Ave. S. Summer 1998 . Plans finalized for transit center along Burnett between S. 3rd Street and S. 4th Street and mid-block between Burnett and Logan Avenues Fall 1998 • Administration determines that site not needed for transit center November 1998 • Public Open House regarding surplusing of site December 7, 1998 • Public Hearing regarding surplusing of site • Council resolution adopted declaring site surplus and authorizing Administration to proceed with early disposition leading to its sale at fair market value December 1998 • Property appraisal January 1999 • Public notification to interested parties February 1999 • Negotiations with purchaser • Purchase and sell agreement signed ISSUE.DOT/ � 1 �- ■ 111 .. ■r ■ r - • 1 • • - • 130 M a3 T' - 200' rrl r, S end St, p Prose p Plaza Ll ,. —A La e S t a� x. ELI 0*- reanicrl Scrvlcas Howard Sheridan P{acmingl3i,�d.�tglPv%xic Worlca R M Cads, D. V-m-rftb Recommended Purchcse M 'c is —_ WON-A Ol E?—:El SG, 0Z twit .t I 3'2/'9C. MAP CITY OF RENTON SCALE: 1'1 = 1001 SE 1 —" 5 so 3o /oo 1318.14 ro 44 h h 9 /0 a ;s /to; 40 vs r2o o y h so so / 2 3 u u 3 ioo h / I , ° e114 pe° t ° T2s :r S�ti�IS6 ^ �i ,,.,�' °oh' co 8 ��gS ���'�9° n t 00 2 M �° y �°0 o C i2A 75 ° — NO' u 5 Lu S c A� z�.is , '��°(° • 7 e o00 J� /2 ° 3 ysss ti`'p 2Zb/B M fo Z�I p w /30.12 z 4 n, GS M N 7 O N 9 rs OC ` 1 16 u+D M N 2 44 i 5 O o 05 5 /�• Z 5 �� ° W tt ti/(o 1 b 2 34 0', 4 �o°ti r°1� 25 ' t fs ,oo J b ,•t c •� i44 p,bp/0 ro 1 �•o K o ° ° Z /( otit 7 4�h /oo A A #42� I O �Z •/7 n 8 C"ti+10 r, 1,ati%3 P vph 4 i°0t l$qls *00Of /Z s 9 0\�c 1 2 3 '¢ •5 .' �pbA{'r ra 4s jo 30 .4� M 34.•7 /ao C „ 30 30 `� fia`ii as o 'Ltb� t� hell 14) 737.07 S. THIRD ST Sic a. /3 n a� I so so b 5 4 3 2 % o iao o 0 N ��� 1� InN ' QO1 /0 h ,,pp 0 A p ° ,off �• �y � 00 >cp oaf pa4° a n t 2 M .tt 4a a fo so a > 4 44 40 40 44 (� LO ,20 `1 t I'0, • I o 40 �' T 7 /to , ��2¢ _ H / ,•°°6S °0�3 t3= ,� o .�° 3; >o i ` 4 to I 'S.s/¢ ° ob ` 8 c 4 n 2 > — T y izo 0 ui 40 Z(v 22 tai ` s+ O .��0 .G��O Z2 • w 9 0��� = 150580 °,t°s .°� Q` 5 N j 2x/3 q. POOo �, Q . � °°° 0°4 °o /Zo ,ap 2/ = /O M 'phS o�1 2/• N /O Qy� yc. SO 33 ,.o r Y.o t t // ,. p . i °p°dip •� 2C : F , r qq uj 7 o .�o� fe�5/9= W = /2 �1qh O� /9 t ,.o�ao/B n /3 a00 Ix 0 osis/d m '^ $noLU �+, �04 !, 0 i o g �Lo°ib� ;/S �e,�o�' ` ,,.,•''oti6 / .�so3� i • 30 ... . ,. A • ' Z�Ist.• i' t..�..iUS•'d 1'i•... i •,;1SM QJ, ��y9h �/ S• FOURTH ST. 9 • � N 004, rK A•+!. W 4 ,&. •io 40 n 4# 4 r�,ch 73osis•s�f �' a W 0 40 •10 ti b 5 4 3 �4h' 'g N°;4h ,' i`R•� `�2 �.d b 6r�°� ti4��1� s °so 4o so s o 40 r 1 9 /� ' Subject Property � � t � ' x"�yr• T o 20.75� Cl. 150 rt. 0 1 r.o. . � � 10 tiLs q zLril J 4;, , �� 1c 9 A // o I L: J r� t60' 319D ST, 60 �ry 3LI71 311 1s 3i4 g 13) ST 312 8 239 316u3 55 i:� ]2i © 320 I i wt1 Q12 323 cti ]26 II j�7 iS II —..}+g ]240.1 tp . T't 332 1 .zc d _ 3io 12 • � 12° � 330 '13 � a 336 13i ' = ? + �0 I-{ 8 y` 336 13 1� 4 Il Sao 14 apo 3 344 4Th' ST o TONKIN J/. e PARK 60 °._� �_� I� J. _�_'7 10• I � 5. .s�� � r 411 Ell 4:c LTi 60 J 64 , ,1��' s W 3S , 8 8 I `4 Q 10 it Cr 12 l w 5 TH --=.f ST I � C•-I 24 =%1 I'I I I P 5: I . 05/08/95 "oe Page 3 Recommendation Execute a purchase and sale agreement with Howard Sheridan for the four parcels of downtown property described below and amend the 1995 budget to permit the acquisition. Property Acquisition Parcel Description Tax Account Numbers 1) Large parcel between 2nd and 3rd on Logan 569600-0010 784180-0035 2)Parcel located at intersection of 3rd and Logan 569600-0005 3)Two lots on West side Burnett between 2nd and 3rd 569600-0115 569600-0120 4)Third Ave-Small vacant lot next to Pipeline Trail 569600-0050 5)Fourth and Burnett- W. side of Burnett next to Spirit of Washington 783930-0315 783930-0305 *41W EXHIBIT A IDENTIFICATION OF SUBJECT PROPERTY There are eight assessor's parcels which we are appraising for the City of Renton. In this report, the parcels which are contiguous to each other have been grouped into Subjects #1-#5. Subject Parcel #1 Tax Parcel#569600-0010 255 Logan Avenue South Title Insurance Parcel A Tax Parcel#784180-0035 210 Morris Avenue South Title Insurance Parcel C Subject Parcel #2 Tax Parcel#569600-0005 528 South 3rd Street Title Insurance Parcel B Subject Parcel #3 Tax Parcel#569600-0115 219 Burnett Avenue South Title Insurance Parcel D Tax Parcel#569600-0120 219 Burnett Avenue South Title Insurance Parcel E Subject Parcel#4 Tax Parcel 4569600-0050 233 Burnett Avenue South Title Insurance Parcel F Subject Parcel 95 Tax Parcel#783930-0315 333 Burnett Avenue South Title Insurance Parcel G Tax Parcel#783930-0305 339 Burnett Avenue South Title Insurance Parcel H ENVIRONMENTAL AUDIT PERMIT Page 3 of 3 A8.115:45. (*) CHICAGO TITLE4NSURANCE COMPANY 1800 COLUMBIA CENTER, 701 5TH AVE, SEATTLE, WASHINGTON 98104 IMPORTANT: This is not a Survey. It is furnished as a convenience to locate the land indicated hereon with reference to streets and other land. No liability is assumed by reason of reliance hereon. 30 3o i0o 7, n w so ° its t 1 :,.l� SIN I 6• 7 �° ,� /2 `3 f ti ss 1 y�° Zy°j6 of l M 7 \ p ^u`0 Z 4' Z •J� ye°a D ✓�s°/•It' 5 / `iv°\ 1 �t!i6 25 D. . Z'' q 3.roo A A /h' a 7 7n 4ti 12 y�� e °��h 6Mti�b •n i� \ Jo N •ii ?` 3< <.t 34 ele lie T+�''n !e )e.3/rn/:.a 0 Y�� yyti.t� �s 'L�'�// h S. D ST � lJ 3� !e ♦s �� so se sf sr. N �4 0 �/O f 4� to N n l O 17 h J N to 2 st, s > . Q ° 4 •s4 Q�D. d o �� vi^ ' 3 /S w 7 1740 ite , ,*"24� p� N 71 ta n 0 O ..0 1 ° ' 4 jy°023OAde20 rz W SO g o /0 /0 2/: CD 3 Z81 1 9 hte LL k—j 2°3q 0 1; s° ,• , 17 f s,.f S/f t.�a'�� r.•r�`ii o �! )o =/=f �'000 » W 'q FOURTH ST. 2 c�r1 NWMLS Form No.25 ®Copyright 1997 Vacant Land Ourchase&Sale - Northwest Multiple Listing Service Rev.8/97 r- ALL RIGHTS RESERVED Page t of 3 Pages ` VACANT LAND PURCHASE AND SALE AGREEMENT THIS AGREEMENT AFFECTS YOUR LEGAL RIGHTS. YOU ARE ADVISED TO SEEK LEGAL ADVICE BEFORE SIGNING. Date: Nalwolbw 10 , 1R7 1 The Buyer, OALLY HM, M w U Assigm agrees to buy and seller agrees to sell,on the following terms, 2 which constitute the entire understanding of the parties and supersede all prior or contemporaneous understandings and representations,the property known 3 as/at/near lagan hm. S. at Clears River Papa Libre: City of P tm ,_KJW County, 4 Washington,.Zip: legally described 13 as attached 0 as follows: be ®Q'ititift A. 5 6 7 (Buyer and Seller authorize Selling Licensee or Closing Agentto insert or correct,over their signatures,the legal description of the propertyf. Except in paragraph 11„the terms 8 "Listing Agent”and"Selling Licensee"mean the real estate company. y 1. PURCHASE PRICE. The purchase price is ThIN liN*W ftft+ M T110 NOW Fbw Kvv*ed ItM no/= oanm 10 s XA�AM including the earnest money. 11 2. METHOD OF PAYMENT. AU C8111 at `""A'" . 12 3. PERCOLATION TEST DISCLOSURE.If the property is located in King County and:(a)Is not served by an approved public orprivate sewer system.and(b)is to be improved 13 for residential or business use;Seller agrees to deliver to Buyer the Percolation Test Disclosure required by King County. 14 4. SHORT PLAT. The property ❑has beer. ❑must be Q!is not legally required to be,short platted. tf it has been,the Short Plat Number is in the legal description above. 15 5. INSPECTION. This Agreement sw16 M is ❑ isnot conditioned on a hazardous materials inspection of the property and its improvements.( ) 17 The parties acknowledge that the Listing Agent and Selling Licensee have no expertise on these matters,and recommend the above inspections. 18 5a. RIGHT TO FARM AND RIGHT TO PRACTICE FORESTRY DISCLOSURES(Snohomish County Only).The property ❑is ❑is not "designated farmland"or situated 19 within 1300 feet of"designated farmland"in Snohomish County,Washington. (if it is,attach NWMLS Addendum No.22G or equivalent). The property ❑is ❑is not 20 "designated forest land"or situated within 300 feet of"designated forest land""in�Snohomish County,Washington. (If it is,attach NWMLS Addendum No.22H or equivalent). 21 6. ZONING. Seller warrants that , the current zoning designation is: fix M1s p = oJmd=W to Ra to . 22 7. UTILITIES. The property is presently served by a: M public water main Cl private well ❑community well 9 sewer main IN gas main m electric distribution line 23 ❑none of the foregoing. The term'served by"means(except in the case of a well)that a main or line capable of adequately serving the entire property abuts or adjoins the 24 property at some point. NOTWITHSTANDING THE FOREGOING,it is the BUYER'S RESPONSIBILITY TO VERIFY within 01a_days (10 days if not filled in) , 25 from the date of mutual acceptance of this Agreement,that any utilities serving the property meet Buyer's needs. If the Buyer does not give notice to the contrary 26 within said number of days,it shall be conclusively deemed that said utilities do meet Buyer's needs. 27 8. CLOSING OF SALE. This sale shall be closed on ,19 ,or sooner by agreement of the parties,by � 28 Title DMLK = CO. ' l or such other closing agent as Buyer shall designate. 29 9. FIRPTA-TAX WITHHOLDING AT CLOSING.The Closing Agent is instructed to prepare a certification(NWMLS Addendum No.22E orequivalent)that Seller is not a"foreign 30 person"within the meaning of the Foreign Investment In Real Property Tax Act. Seller agrees to sign this certification. If Seller is a foreign person,and this transaction is 31 not otherwise exempt from FIRPTA,Closing Agent is instructed to withhold and pay the required amount to the Internal Revenue Service. 32 10. POSSESSION. Buyer shall be entitled to possession [Yon closing ❑at 9:00 PM on the calendar day after closing 33 ❑ . "Closing"means the date on which all documents are recorded and the sale proceeds are available to Seller. Seller agrees to 34 maintain the property and included appliances in their present condition,normal wear and tear excepted,until Buyer is entitled to possession. 35 11. AGENCY DISCLOSURE. At the signing of this Agreement,the Selling Licensee r�r r" (e Ift1 eWft tl �) 36 .7�]ir�.- aw e aae�r. (Insert name of Licensee and the company name as licensed) - represented `7w 37 (Insert Seller,Buyer,both Seller and Buyer,or neither Seller nor Buyer) The Listing Agent 38 (Insert name of Licensee and the company name as licensed) represented 39 (Insert Seller,or both Seller and Buyer) If Selling Licensee and Listing Agent are different salespersons affiliated with the same Broker,then both Buyer and Seller confirm their consent to that Broker acting as a 40 dual agent If Selling Licensee and Listing Agent are the same salesperson representing both parties then both Buyer and Seller confirm their consent to that salesperson 41 and his/her Broker acting as dual agents. Buyer and Seller confine receipt of the pamphlet entitied'The Law of Real Estate Agency:' „ , 42 11a. COMMISSION DISCLOSURE.Neither Listing Agent nor Selling Licensee is receiving compensation from more than one party to this transaction unless otherwise stated 43 on an attached addendum,in which case Buyer and Seller consent to such compensation. 44 12. COND17TION OF TITLE.Unless otheirwise specified in this Agreement tide to the property shall be marketable at closing.The following sh.all n,ot cause the tide to be unmarketable:rights. 45 reservations,covenants.coed tons,and restrictions presently of record and general to the area;easements and encroachments not materially affecting the value of or unduly interfering 46 1vith the Buyer's reasonable use of the property:and reserved oil and/or mining rights. Monetary encumbrances not assumed by Buyer shall be paid by Seiler on or before closing. 47 INITIALS: BUYER _ BUYER SELLER SELLER 48 WHITE—Selling Agent's Copy GREEN—Escrow Copy CANARY—Purchaser's 2nd Copy PINK—Seller's Copy GOLD—Purchaser's tat Copy i 0 NWMLS F40 oortrt[�No.25 , nil✓ O Copyright 1997 VV nt Land1lurchase 6 Sale Northwest Multiple Listing Service 6/97 ALL RIGHTS RESERVED Page 2 of 3 Pages VACANT LAND PURCHASE AND SALE AGREEMENT (CONTINUED) 13. TITLEINSURANCE.Seller authorizes Lender or Closing Agent,at Sellers expense,to apply for a standard form buyeespolicy ofttleinsurance,with) X49 (Iflation protection endorsements if available at no additional cost. The title insurance policy is to be ordered through 93ww 50 Inaxwm bo. title company. Said company is to send a copy of the preliminary commitment therefor to both Listing Agent and 51 Selling Licensee.The preliminary commitment,and the title policy to be issued,shall contain no exceptions other than the General Exclusions and Exceptions in said standard 52 forth and Special Exceptions consistent with the Condition ofT'tile herein provided.If title cannot be made so insurable prior to the dosing date,then as Buyer's sole and exclusive 53 remedy,the earnest money shall,unless Buyer elects to waive such defects or encumbrances,be refunded to the Buyer,less any unpaid costs described in paragraph 26 hereof, 54 and this Agreement shall thereupon be terminated.Buyer shall have no right to specific performance or damages as a consequence of Sellers inability to provide insurable fide. 55 14. CONVEYANCINGIPERFORMANCE. 56 WARRANTY DEED.Tide shall be conveyed by a Statutory Warranty Deed. If this Agreement is for conveyance of a Buyers interest in a Real Estate Contract,the Statutory 57 Warranty Deed shall include a buyers assignment of the contract sufficient to convey after acquired title. 58 SECURITY.If this Agreement is for sale on either a Real Estate Contractor a Note secured by Deed of Trust,the parties agree to the FORM(S)ATTACHED HERETO unless 59 an institution providing financing requires different forms. If Real Estate Contract Form LPB-44 is attached hereto,only those optional clauses in that form required by the 60 terns of this Agreement shall apply. 61 LIABILITY FOR PAYMENTS. The holder is entitled to collect payments on a Real Estate Contract or Note EVEN'THOUGH THE BUYER ABANDONS and/or offers to quit 62 claim the property to the holder. 63 PERFORMANCE. Time is of the essence on this Agreement 64 ASSIGNMENT. Buyer may 6110(assign this Agreement,or Buyers rights hereunder,without Sellers prior written consent,unless provided otherwise herein. 65 15. UNDERLYING ENCUMBRANCES. If there is an existing Deed of Trust.Real Estate Contract or other encumbrance which is to remain unpaid after closing and its terms 66 require the holders consent to this sale,Buyer agrees to promptly apply for such consent and this Agreement is conditioned on it being obtained 67 16. CONDITIONOFWELL.Sellerwarrantsthe private well(rfany)serving,or to serve,the property.(a)provides an adequate supply ofhousehold and yard water,meeting State Department 68 of Social and Health Services purity standards;and(b)continued use of the well is authorized by a State Water Right Certificate or is legally exempt from the requirementof a Certificate. 69 17. CONDITION OF SEPTIC SYSTEM.Sellerwarrants that the septic system(if any)serving,or to serve,the property:(a)is in good working order and Seller has no knowledge 70 of any needed repairs;and(b)is currently not in violation of any governmental,health,construction and other standards,applicable to the property. 71 18. SALE INFORMATION. The Listing Agent or Selling Licensee is authorized to report this Agreement(including price and all terms)to the Multiple Listing Service that 72 published it and to its members;financing institutions;appraisers;and anyone else related to this sale.Buyerand Seller authorize all lenders,closing agents,appraisers, 73 title insurance companies,and others related to this sale,to furnish the Listing Agent and/or Selling Licensee,on request,any and all information and copies ofdocuments 74 concerning the status,progress and final disposition of financing,appraisal,closing,tide condition,and any other matter concerning this sale,INCLUDING BUYER'S 75 CREDIT REPORT. (FHA regulations prohibit lenders giving credit information to anyone on FHA loans). 76 19. SEATTLE REQUIREMENTS. If the property is in the City of Seattle,Seller agrees to deliver to Buyer a*Certificate of Land Use and Local Assessments"complying with 77 the Seattle Ordinance. 78 20. CLOSING COSTS AND PRORATION. Seller and Buyer shall each pay one-half of escrow fee. Seller shall pay real estate excise tax. Taxes for the current year,rent, 79 interest,and lienable homeowners association dues shall be prorated as of closing. If any payments are delinquent on encumbrances which will remain after closing, 80 Closing Agent is instructed to pay them at closing from money due,or to be paid by,Seller. 81 21. NOTICES AND COMPUTATION OF TIME. Unless otherwise specified,any notice required or permitted in,or related to,this Agreement must be in writing and signed 82 by any one Buyer or Seller(including either husband or wife). Seller appoints Listing Agent as Sellers agent and Buyer appoints Selling Licensee as Buyers agent to 83 receive notices and all other documents relating to this transaction that may be delivered from one party to the other,including but not limited to Sellers Real Property 84 Transfer Disclosure Statement(RCW 64.04),condominium resale certificates,land registrations and any additional written notices,responses or communications relating 85 to such documents. The party to whom a notice or any other document is directed shall be deemed to have received and to have knowledge of the contents of the notice 86 or documents upon receipt by or at the office of the party's appointed agent.Any time limit applicable to a notice shall commence on the day following receiptof the notice 87 by the appointed agent or party,and shall expire at 9:00 PM of the last calendar day of the specified period of time,unless the day is a Saturday,Sunday or leagel holiday 88 as defined in RCW 1.16.050,in which event the time limit shall expire on the next business day. Any specified period of five(5)days or less shall include business days 89 only. SELLER AND BUYER MUST KEEP THEIR APPOINTED AGENT ADVISED OF THEIR WHEREABOUTS TO RECEIVE PROMPT NOTIFICATION OF RECEIPT OF 90 A NOTICE. SELLING LICENSEE AND LISTING AGENT HAVE NO RESPONSIBILITY TO ADVISE OF RECEIPT OF A NOTICE BEYOND EITHER PHONING THE PARTY OR 91 CAUSING A COPY OF THE NOTICE TO BE DELIVERED TO THE PARTY'S ADDRESS ON THIS AGREEMENT. 92 22. FACSIMILE TRANSMISSION.Facsimile transmission ofany signed original document,and retransmission ofany signed far-simile transmission,shall be the same as delivery 93 of an original. At the request of either party,or the Closing Agent,the parties will confirm facsimile transmitted signatures by signing an original document. 94 23. BUYER'S FUNDS TO CLOSE. Buyer represents that Buyer has sufficient funds to close this sale in accordance with this Agreement,and is not relying on any contingent 95 source of funds or gifts unless expressly set forth elsewhere in this Agreement 96 24. ADDENDUMS. In addition to any other Addendums referred�fo in this Agreement,the following Addendums are attached hereto: ❑None Fi.T8t 97 to RXdVM � seas 1 Wly ftmI Im. and City of fti1Ca) 96 25. DEVELOPMENT AND/OR CONSTRUCTION-FEASIBILITY AND COST. ITIS THE BUYER'SRESPONSIBILITY TO VERIFY within days(15 days 99 if not filled in)from the date of mutual acceptance whetheror not the property can be platted,developed and/or built on(now or in the future)and what itwill cost to do this.BUYER 100 SHOULD NOT RELY ON ANY ORAL STATEMENTS CONCERNINGTHIS MADE BYTHE SELLER,LISTING AGENT ORSELLING LICENSEE.BUYER SHOULD INQUIRE 101 AT THE CITY OR COUNTY,AND WATER,SEWER OR OTHER SPECIAL DISTRICTS IN WHICH THE PROPERTY IS LOCATED.BUYER'S INQUIRY SHOULD INCLUDE,102 BUT NOT BE LIMITED TO:BUILDING OR DEVELOPMENT MORATORIUMS applicable to or being considered for the property,any SPECIAL BUILDING REQUIREMENTS,103 including setbacks,height limits or restrictions on where buildings may be constructed on the property;whether the property is affected by a flood zone,wedands,.shorelands 104 or other ENVIRONMENTALLY SENSITIVE AREA;road,school,fire and any other GROWTH MITIGATION OR IMPACT FEES that must be paid;the procedure and length of time 105 necessary to obtain PLAT APPROVAL and/or a BUILDING PERMIT.water,sewer and utility,CONNECTION CHARGES,and all other CHARGES that must be paid.. 106 If the Buyer does not give notice to the contrarywithin said numberof days,it shall be conclusively deemed that Buyer Is satisfied as to developmentand/orconstruction 107 feasibility and cost. If Buyer does so give notice this Agreement shall terminate and the Earnest money shall be returned to buyer,less any unpaid costs. 108 INITIALS: BUYER BUYER SELLER SELLER 109 WHITE—Selling Agent's Copy GREEN—Escrow Copy CANARY—Purchasers 2nd Copy PINK—Sellers Copy GOLD—Purchaser's 1st Copy NWMLS Form No.25 ®Copyright 1997 Vacant Land 4Yrchase 8 Sale tea" t Northwest Multiple Listing Service R0►.6/97 ALL RIGHTS RESERVED Page 3 of 3 Pages VACANT LAND PURCHASE AND SALE AGREEMENT (CONTINUED) 26. EARNEST MONEY RECEIPT.Selling Licensee acknowledges receipt from Buyer of$ eamest money.in the form of. lCtOrIMCION0111ec1��110 tY 111 112 113 If the earnest money is to be held by Selling Licensee and is over$5,000,it shall be deposited to: Q Selling Licensee's Brokers pooled trust account 0 A separate trust 114 account in Selling Licensee's Broker's name,with the interest credited at closing to Buyer/Seller(strike one)whose Social Security (or taxpayer ID) Number is: 115 If this sale fails to close,whoever is entitled to the earnest money is entitled to the interest. 116 Selling Licensee'shall.notdeposit any check until Buyer and Seller have signed this Agreement. Buyer agrees to pay financing and purchase costs incurred by Buyer. if all 117 or part of the earnest money is to be returned to Buyerand any such costs remain unpaid,the'Selling Licensee may deduct and pay them therefrom. 118 27. DEFAULT AND ATTORNEYS FEES. In the event BuWr fails,without legal excuse,to complete the purchase of the Propeny,.then(check one): 119 J Xa.That portion of the earnest money which does not exceed five percent(5%)of the purchase price shall be retained by Seiler as liquidated damages(subject to Seller's 120 obligation to pay certain costs and a commission under Section 30 below)and as the sole and exclusive remedy available to Seller for such failure:or 121 D b. Seller may,at Sellers option,(a)keep as liquidated damages all or a portion of the earnest money(subject to Seller's obligation to pay certain costs and a commission 122 under Section 30 below)as the sole and exclusive remedy available to Seller for such failure,(b)bring suit against BuyerTor Sellees actual damages,(c)bring suit to specifically 123 enforce this Agreement and recover any incidental damages,or(d)pursue any other rights or remedies available at law or equity. 124 If Buyer Seller,Listing Agent or Selling Licensee institutes suit concerning this Agreement,including,but not limited to claims brought pursuant to the Washington Consumer 125 Protection Act,the prevailing party is entitled to court costs and a reasonable attorney's fee. In the event of trial,the amount of the attorneys fee shall be fixed by the court. 126 The venue of any suit shalt be the county in which the Property is located. 127 If neither of the above boxes is checked,then Option'b"applies. 128 28. COUNTEROFFERS. If either party makes a future counteroffer,the other party shall have until 9:00 P.M.on the WA day(If not filled in,the second day)following its 129 receipt to accept the counteroffer,unless sooner withdrawn.A counteroffer or acceptance is not effective until a signed copy is received by or at the office of the other party's 130 agent for the purposes of receiving notices,as provided in Section 23. If the counteroffer is not timely accepted,it shall lapse and the earnest money shall be refunded to 131 the Buyer. 132 29. AGREEMENT TO PURCHASE AND TIME LIMIT FOR ACCEPTANCE. Buyer offers to purchase the property on the above terms and conditions. Seller has until 9 PM of 133 19 to accept this offer. Acceptance is not effective until a signed copy hereof is actually received by or at the office of Selling 134 Licensee. If this offer is not so accepted,it shall lapse and Selling Licensee shall refund the earnest money to Buyer. 135 BUYER MlY W11BPic. DATE N• ]Q 1997 136 BUYER \. �/ I r Apr S DATE /-� 1 1977 137 BUYER'S PHONE: HOME OFFICE t �! 138 BUYER'S ADDRESS AV8; E., Sees VA ZIP 139 SELLING LICENSEE OFFICE NO. PHONE 255--LTV FAX 140 ADDRESS P.Q. Box6. Fbirtm, 4OMPANYI 9BM7 141 BY PRINT NAME 142 30. SELLER'S ACCEPTANCE AND BROKERAGE AGREEMENT.Seller agrees to sell the property on the terms and conditions herein,and further agrees to pay a commission 143 in a total amountcomputed in accordance with the listing agreement.The commission shall be apportioned between Listing Agentand Selling Licensee as specified in the listing. 144 If there Is no written listing agreement,Seller agrees to pay Selling Licensee a commission of FbtX (4)%of sales price or$ Seiler assigns to 145 Listing Agent and Selling Licensee a portion ofthe sales proceeds equal to the commission.Ifeamest money is retained as liquidated damages,any costs advanced or committed 146 by Listing Agent or Selling ' ensee for Buyer or Seller shall be reimbursed or paid therefrom,and the balance shall be divided equally between(1)Seiler and(2)Listing Agent 147 and Selling Licensee per a mmission or listing agreement. Seller acknowledges receipt of a copy of this Agreement,signed by both parties. 148 SELLER DATE 19 145 SELLER �� DATE 19 150 PRINT SELLER'S NAMES 151 SELLER'S PHONE:HOME OFFICE 152 SELLER'S ADDRESS ' ZIP 153 LISTING AGENT / OFFICE NO. PHONE FAX 154 ` (COMPANY) } MLS NO. ADDRESS 155 31. MUTUAL ACCEPTANCE. This Agreement is accepted without further change or counteroffer this day of -19— . 156 which shall be deemed the date of mutual acceptance of this Agreement and all addenda. 157 158 Initials of Buyer/Seller(strike one) Initials of Buyer/Seiler(strike one) WHITE—Selling Agent's Copy GREEN—Escrow Copy CANARY—Purchaser's 2nd Copy PINK—Sellers Copy GOLD—Purchaser's 1st Copy FIRST ADDENDUM TO PURCHASE AND SALE AGREEMENT BETWEEN DALLY HOMES, INC. AND CITY OF RENTON 1.0 Parties 1.1 This First Addendum is made and entered into by and between Dally Homes, Inc., a Washington corporation ("Dally"), having its principal place of business at 3316 Fuhrman Ave. E., Suite 100, Seattle, Washington, 98102, and the City of Renton, a Washington municipal corporation ("Renton") having its principal place of business at 200 Mill Ave. S., Renton, Washington, 98055. 1.2 Title to the Property described in the Vacant Land Purchase and Sale Agreement to which this Addendum is attached shall be taken in the name of Renaissance L.L.C. 2.0 Recitals 2.1 This First Addendum ("Addendum") is attached to and incorporated in that certain Vacant Land Purchase and Sale Agreement between the parties dated November 10, 1997 (the "Agreement"). Both documents are, together, intended to carry out the Memorandum of Understanding ("MOU") between the parties for construction and implementation of the Project (as defined below). In the event of a conflict between the MOU and this Agreement and Addendum, the latter shall control. 2.2 As part of Renton's redevelopment of downtown Renton, Renton wishes to undertake certain capital improvements involving reconfiguration of streets, creation of public park land, establishing additional parking, and construction of a commercial/retail "Piazza" building and Metro Transfer Station in the area of Morris Avenue South, South Third Street, Cedar River Pipeline and Logan Avenue South (collectively, the "Project"). In addition, Renton is selling the Property pursuant to this Agreement for the purpose of Dally's construction of an upscale, multistory apartment building with tenant parking and commercial/retail facilities (collectively, the "Complementary Work"). 2.3 Throughout this Addendum, the parties have used the phrase "the parties shall agree" to indicate that they shall continue to consult, in substantial depth and in good faith, on the subject matter of the agreement. Dally understands and acknowledges that, as a municipal corporation, Renton is obligated to use certain processes in order to take certain 144776.3/33pk (16211.1) FIRST ADDENDUM TO P&S AGREEMENT 1 ORIGINAL. i *moo, ` actions or reach certain results. Without limiting those obligations, the intent of the parties is to bind themselves to the undertakings set forth herein to the maximum extent permitted by law, and to take all steps necessary to continue and/or complete those actions in a spirit of cooperation and desire to make Renton's new Town Center Project and the Complimentary Work a success for all concerned. Nothing in this Addendum is intended to give or imply that Dally has a veto power or privilege over legislative actions of the Renton City Council. 3.0 Requirements and Representations 3.1 Approvals. By entering into the Agreement and this Addendum, each party represents and warrants that it has taken or will take all necessary steps to authorize, completely fund, and otherwise undertake and complete the Project Elements and Complementary Work for the Project, as defined in the MOU and as modified by this Addendum, and each party further represents and warrants that except for such actions no other financing, funding, acquisition, preliminary approval, or similar action remains to be taken with regard to the Project. 3.2 Logan Avenue/South Third Street Intersection. A gateway feature and key focal point for the Project will be created by Renton at the northwest corner of South Third Street and Logan Avenue South as set forth in Paragraph 1 of Ms. Susan Carlson's September 26, 1997, letter to Don Dally, attached to this Addendum as Exhibit 1. The parties shall agree on the specific improvements within the general parameters set forth in Exhibit 1. The minimum budget amount approved and allocated by Renton for these improvements is Fifty Thousand and No/100 Dollars ($50,000.00), which may be increased through Renton's 1% for the Arts Program. Renton shall complete construction of these improvements on or before the time Dally is ready to request a temporary occupancy permit for the Complimentary Work. 3.3 Piazza. A central piazza will be created by Renton at the location of the former Sound Mazda dealership as set forth in Paragraph 2 of Exhibit 1 to this Addendum. The parties shall agree on the specific improvements within the general parameters set forth in Exhibit 1, to include the following minimum actions: 3.3.1 Phase I. Phase I of the Piazza work shall include: demolition of the Sound Mazda structure; assessment and removal of all hazardous waste on the site; removal of associated asphalt; site preparation, seeding and grounds maintenance; purchase and installation of benches, street/piazza plantings and flower pots; and cleanup, painting and maintenance of the Old Ford Garage. The minimum budget amount approved and allocated by Renton for this work is Two Hundred Thousand and No/100 Dollars ($200,000.00). Renton shall complete the work and improvements not later than March 31, 1998. 144776.3/33pk (16211.1) FIRST ADDENDGM TO P&S AGREEMENT 2 33).2 Mazda Garage. Renton shall ensure that a "quality" user, suitable to the nature of the Project, is obtained for the Mazda Garage in consultation with Dally. Until such time, Renton shall maintain the exterior appearance of the Mazda Garage in a manner appropriate to and consistent with the nature of the Project. 3.3.3 Phase II Master Plan - Planniniz. Concurrent with the implementation of Phase I, Renton shall begin and complete a Phase II Master Plan for full build out of the Project. Dally will be allowed substantial input into the planning process with the intent of ensuring compatibility of the Phase H Master Plan with the Project. Renton shall also develop a funding plan sufficient to fully implement the Phase II Master Plan and improvements within the time frame contemplated by this Addendum. It is intended and expected by the parties that the Phase II Master Plan will be a continuation of the Phase I improvements and will provide for a fully functional park and Piazza facilities with all of the amenities suggested in Paragraph 2 of Exhibit 1. Renton shall complete and approve the Phase II Master Plan and funding plan not later than May 31, 1998. 3.3.4 Phase II Master Plan - Implementation. Engineering and design work on the Phase II Master Plan shall begin promptly after its approval by the Renton City Council. Completion of the adopted Phase II Master Plan improvements shall be diligently pursued by the City, subject to the funding plan, with the intent of completing construction by April 1, 1999. 3.4 Loean Avenue Street Improvements. Improvements to Logan Avenue South between South Second Avenue and South Third Avenue will be created by Renton as set forth in Paragraph 3 of Exhibit 1. The parties shall agree on the specific improvements within the general parameters set forth in Exhibit 1. The minimum budget amount approved and allocated by Renton for these improvements is Three Hundred Fifty Thousand and No/100 Dollars ($350,000.00). Renton shall complete construction of these improvements on or before the time Dally is ready to request a temporary occupancy permit for the Complimentary Work. 3.5 Seattle Pipeline Right of Way. The Seattle Pipeline Right of Way shall be acquired by Renton through lease with the City of Seattle or otherwise for not less than the useful life of the Complementary Work, with uses and improvements as set forth in Paragraph 4 of Exhibit 1. The parties shall agree on the specific uses and improvements within the general parameters set forth in Exhibit 1, including but not limited to the following: Renton agrees to approve primary access to the Complementary Work via the Seattle Pipeline Right-of-Way and to provide not less than 25 parking spaces at that location for exclusive use of Project residents daily between 6:00 p.m. and 8:00 a.m. The parties will specify the details of the parking arrangements in a separate letter agreement supplemental 144776.3/33pk (16211.1) FIRST ADDENDUM TO P&S AGREEMENT 3 to this Addendum. The minimum budget amount approved and allocated by Renton for these improvements is Two Hundred Fifty Thousand and No/100 Dollars ($250,000.00). Renton shall complete the lease transaction with the City of Seattle and construction of the improvements on or before the time Dally is ready to request a temporary occupancy permit for the Complimentary Work. 3.6 Property Acquisition. Renton shall acquire by donation, purchase or condemnation, and shall thereafter improve, the 18 foot strip described in Paragraph No. 5 of Exhibit 1. Renton will complete its acquisition of the property (or obtain a declaration of public use and necessity) on or before completion of the garage (to be constructed as part of the Complimentary Work) to provide access to Dally. Construction of the improvements shall be completed on or before the time Dally is ready to request a temporary occupancy permit for the Complimentary Work. The minimum budget amount approved and allocated by Renton for the acquisition of the 18 foot strip is Thirty-Five Thousand and No/100 Dollars ($35,000.00). 3.7 Mitigation Fees. Mitigation fees for the Project in its current configuration will be approximately One Hundred Twenty-Six Thousand and No/100 Dollars ($126,000.00). If the actual amount of mitigation fees for the Project in its current configuration exceed this estimate by more than five percent (5%), then Renton will waive or pay such overages. 3.8 Fast Track Permitting. Renton agrees to use its best efforts, consistent with the constraints imposed by State and City laws, to expedite the review and approval of all permits required for the Project, including the Complementary Work. Renton agrees that Dally may submit applications for building permits at any time during the SEPA process for the Project and Renton shall review such permits concurrent with the SEPA process. 3.9 Downtown Water Main. Renton shall install a water main, or otherwise provide a water source, of sufficient capacity to provide fire protection for the Complementary Work in accordance with all applicable laws. Renton will complete construction of the water main or other source in sufficient time that the street above the water main can be completed on or before the time Dally is ready to request a temporary occupancy permit for the Complimentary Work. Renton's estimated budget for these improvements is Four Hundred Thousand and No/100 Dollars ($400,000.00). 4.0 Earnest Monev. 4.1 Concurrent with execution of this Agreement, Dally has paid a nonrefundable earnest money deposit in the amount of Thirty-Five Thousand and No/100 Dollars ($35,000.00)by tendering to Renton a promissory note in the amount of Twenty Thousand 144776.3/33pk (16211.1) FIRST ADDENDUM TO P&S AGREEMENT 4 and No/100 Dollars ($20,000.00) and cash in the amount of Fifteen Thousand and No/100 Dollars ($15,000.00), both of which shall be deposited with the Closing Agent in escrow account for the transaction. The entire earnest money amount shall be applicable to the purchase price of the Property. 5.0 Closing. 5.1 This sale shall close not later than thirty (30) days following written notice to Dally that Renton has internally approved and is ready to issue the building permit for the Complementary Work. The building permit shall thereafter issue at Dally's request. 6.0 Environmental. 6.1 Renton represents and warrants to Dally that, as of the full execution of this Agreement, Renton has disclosed to Dally all information, knowledge and reports concerning the environmental condition of the Property. Renton represents and warrants to Dally that, to Renton's best knowledge, the environmental status of the Property is completely and accurately described in the Phase I Property Assessment prepared by Dames & Moore and dated April 27, 1995. 6.2 Dally and its representatives, prior to the closing date, will be afforded the opportunity to make such environmental inspections of the Property as Dally desires. The details of that investigation will be set forth in a separate letter agreement supplemental to this Addendum, and will involve soil sampling of the Property. Dally has been provided copies of environmental survey documents prepared by consultants for Renton. Dally acknowledges that the Property is being sold or conveyed to Dally in an "as is, where is" condition, but such acknowledgment shall not constitute a waiver or release of any claims Dally may have for the existing environmental condition of the Property. 6.3 Renton has owned the Property for a short period of time and has conducted no activities on the Property other than a short extension of the automobile sales function performed for an extensive period of time by the prior owner. Dally has had no connection with or ownership of the Property at any time prior to this Agreement. As between themselves, the parties assume the risk and responsibilities related to the Property as set forth in RCW Chapter 70.105D. Notwithstanding the foregoing, nothing in this Section 6.0 implies an obligation for either party to indemnify the other against claims or liability for response or cleanup costs to the extent such party is not liable under applicable law for such costs. 144776.3/33pk (16211.1) FIRST ADDENDUM TO P&S AGREEMENT 5 f 6.4 The parties acknowledge that notwithstanding any prior contemporaneous oral or written representations, statements, documents or understandings, this Section 6.0 constitutes the entire understanding of the parties with respect to the subject matter hereof and the purchase and sale of the Property, and supersedes any such prior or contemporaneous oral or written representations, statements, documents or understandings. CITY OF RENTON: DALLY HOMES, INC.: .Jesse Tanner, Mayor DATE DON DALLY, P ENT DATE ATTEST: j; Marilyn V. e ersen, DATE City Clerk 144776.3/33pk (16211.1) FIRST ADDENDUDd TO P&S AGREENIE\-r 6 �..► a.of CITY OF RENTON JUN 0 2 199E RECEIVED CITY CLERK'S OFFICE CITY OF RENTON PLANNING/BUILDING/PUBLIC WORKS MEMORANDUM DATE: June 1, 1998 TO: Marilyn Petersen, City Clerk FROM: Tom Boyns, Property Services Supervisor, 6209 SUBJECT: Transit Hu uisitions Adams; icini; a Joy Transco Last year we acquired three parcels for Transportation Division for the Transit Hub. We have previously sent a master appraisal and most of the documents for the La Joy property. The accompanying documents are the purchase agreement and Title Policies for the purchases from Adams and Picini as well as the Title Policy for the La Joy property. This material should complete your files. CITE,, OF RENTON Office of the City Attorney Jesse Tanner,Mayor Lawrence J.Warren MEMORANDUM To: Mayor Jesse Tanner From: Lawrence J. Warren, City Attorney Date: April 22, 1998 Subject: Closing Documents for Dally Homes, Inc. I am attaching the closing documents for Dally Homes, Inc. I have reviewed them and approve them as to legal form. Please note on the cover page from Chicago Title the various documents that must be signed and emphasizing that your signature must be notarized on the Statutory Warranty Deed. This transaction is scheduled to close on April 24, 1998. If you have any questions please let me know. Lawrence J. Warren LJW:as. Encl. cc: Jay Covington A8:139.82. �A- GtJ Post Office Box 626 - 100 S. 2nd Street - Renton, Washington 98057 - (425)255-8678 MThis paper contains 50%recycled material.20%nnst cnnsumer *------------------------- --- MetroScan / King --------------------------- Parcel# :569600 001006 Pl�ted B1dgId:1 Q:SE 5:18 T:23N R:05E Owner :Renton Renaissance Apartments Llc Struct :$1, 000 CoOwner Land :$184, 000 Site :255 Logan Ave S Renton 98055 Total :$185, 000 Mail :3316 Fuhrman Ave E Seattle Wa 98102 % Imprvd :1 Sale Dt :04/24/1998 Aud # :1643 MULTI-PARCEL LevyCode :2100 (J � Price Deed :Warranty 1999 Tax:$2,468.84 Sf,ey„ ✓� LoanAmt :$7, 500, 000 Loan :Blanket ExemptCd : Zoning :CD Lender:Seattle Mortga Ex Tax # :1607405 VestTyp IntTyp:Fixed Phone LandUse :403 Pub,Automotive,Retail 90Census :253 . 00 F_ -.; 7 ~5 Bldg Nm :Used Car Lot Mobile Home : No Map Grid :656 C2 S Plat Nbrhd Cd :530000 Rec # Vol :9 ''7 �/l " SubPlat :Motor Line Add To Renton Page :50r Legal :BLK 1 LOT 2-3-4-5 MOTOR LINE ADD Jurisdctn: . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Bedrooms lstFlr SF FinishSF : YearBlt :1972 Bath F3H / / 2ndFlr SF Bldg SF :200 Eff Year :1974 Fireplace 3+FloorSF Lease SF :200 B1dgMatl :Frame Bsmt Type HalfFlrSF AttGrgSF : B1dgCond : Deck FinBsmtSF LotAcres : .46 B1dgGrde :Avg Stories :1 BsmtTotSF Lot SF :20,451 WallMatl Units BsmtGrgSF WtrFront WtrFrtSF *------------------------------- MetroScan / King Parcel# :784180 003500 Platted B1dgId: Q:SE 5:18 T:23N R:05E Owner :Renton Renaissance Apartments Llc Struct :$1, 000 CoOwner Land :$270, 000 Site :210 Morris Ave S Renton 98055 Total :$271, 000 Mail :3316 Fuhrman Ave E Seattle Wa 98102 % Imprvd : Sale Dt :04/24/1998 Aud # :1643 MULTI-PARCEL LevyCode :2100 Price Deed :Warranty 1999 Tax:$3, 616.51 LoanAmt :$7,500, 000 Loan :Blanket ExemptCd : Zoning :CD Lender:Seattle Mortga Ex Tax # :1607405 VestTyp IntTyp:Fixed Phone LandUse :401 Pub,Parking,Associated 90Census :253 .00 Bldg Nm :Vacant ParkingMobile Home : No Map Grid :656 C2 S Plat Nbrhd Cd :530000 Rec # Vol :26 SubPlat :Smithers 6Th Add To Renton Page :47 Legal :BLK 1 LOT 6-7 SMITHERS 6TH ADD TO Jurisdctn: . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Bedrooms lstFlr SF FinishSF YearBlt Bath F3H / / 2ndFlr SF Bldg SF Eff Year Fireplace 3+FloorSF Lease SF B1dgMatl Bsmt Type HalfFlrSF AttGrgSF B1dgCond Deck FinBsmtSF LotAcres : .77 B1dgGrde Stories BsmtTotSF Lot SF :33, 761 WallMatl Units BsmtGrgSF WtrFront : WtrFrtSF The Information Provided Is Deemed Reliable, But Is Not Guaranteed. Subject Pro pe e rty ` 20.25!AC; ISO z — r(. o o. . I r I }{J I r<^ 6v - t r �o ° F R' 10 ) X01 b I 4 c 2 t_ I O x Y2 6A t 2•^ 3 Y63 3 n, - F 1--d -- 3No ; 4 6 IS Cc- i ( •2 •e\ o �. ti N� 10 ri l o 319D ST. J 4 Q 2 i — ( ; 31! 3n s d I 312 8 . 23 �^ CC �_ •' 1 O 9 ?I 316 9 c":Uu' 3i5 Jc^ I r _ lU ' 0 I 0 3� 320 I 2i ¢rtQl2 'cwc 321 324 c•.1 (� 332 I T, .zc _• 110 12 . [•� 12" � 330 'r3 13 336 a ILn 14 r i q Q l5' t 344 16M. 15 3 ,., ',. 4THZ ST. , a TONKIIN e PARK IS ZS ''1 �� Y so'6 W 10< ii Q: cr i2 —�—� LU 1 - �'--' �� .i ••` J T L!-J r-•-� s ... } _ o 5 TH ( � ( ST. - co t !'� 1 IiI;i I �. ci. i t'• I _.l Ci I III P S-� CHICAGO TITLE -*NSURANCE COMPANY NNO# 1800 COLUMBIA CENTER, 701 STH AVE, SEATTLE, WASHINGTON 98104 IMPORTANT: This is not a Survey. It is furnished as a convenience to locate the land indicated hereon with reference to streets and other land. No liability is assumed by reason of reliance hereon. �•• se >• Toe 1318.14 y y 9 / o /s I s• is tr o ♦ to 1+ ILA )T ° « k i + 6 7 . �° `3 f sss �. > 1 =>..♦s A I S'I Q 6+'t so os/3h , 4 k /7 7�pt\ AOr '51�u`0�Z I G 4' Z 5 ° D S /1' . : 2 'S 25 e i•K 3 0 00. 4 L ^ : V 0 i � �I i.o tee ti',.I°ZZ .be � e � a• ti` I 2z /7n o h h 0 )o A •�i . s.• Ss•7' 7•e ro!l.•. o n>t ,J S. n° THIRD ST .° ^ 71 l y At s se44 S ♦e 3 m2 1 x �o * 0 e o z 44 C. re �♦ 4 fe a fr 5 4 3 2 o° /7 h 44 r+ p 0 4 ♦ O V PO N 0. si' '0 ♦e Isle s Q 0} ° ♦l 4 40 .i4 J 44 3 15 vid 4o LO 0 23 =n Q . wa I 26 9 O .•°i3 .+°��° L2 w g ..}gip° 150580 s•°°� a : S > ==t�3 ? o o i z♦ Yj i t > 4' 1t 1 �} 6 5a ttti/2 E40 // A. 20° r . 7 r qq W N—a I/2 •t•�4 �l!' /L p°}tS �� /9t cY o 0L /U p da a O /3 •03As ��i/Q m 7> , P/ Se �ti s t° ior+ o+� ,r°•yWr/7 R 9�� - I J/4 _✓r 17- /¢ s. i/f a�:t•�t� _ �..tprt�ii$ �r se =��...,.o>od ~µms _FOURTH � Z ♦fit.' bpd qH,r N) �� � , r "Zia, v EXHIBIT A SDA� IDENTIFICATION OF SUBJECT PROPERTY There are eight assessor's parcels which we are appraising for the City of Renton. In this report, the parcels which are contiguous to each other have been grouped into Subjects #1-#5. loa Subject Parcel 41 Tax Parcel 4569600-0010 ✓255 Avenue South Title Insurance Parcel A_ Parcel 4784180-0035 ✓210 Morris Avenue South Title Insurance Parcel C uW f0uvn PuA& Subject Parcel 42 Tax Parcel 4569600-0005 V 528Zug 3rd Street �e Insurance Parcel B kuh- Subiectt Parcel 43 Tax Parcel#569600-0115 v/219 2imet"tAvenue South Title Insurance Parcel D Tax Parcel #569600-0120 ,✓ 219mett Avenue South Title Insurance Parcel E paui ll+o/n Subject Parcel #4 Tax Parcel 4569600-0050 ✓ 233 Burnett Avenue South Title Insurance Parcel F Subject Parcel #5 Tax Parcel#783930-0315 u 333 Burnett Avenue South Title Insurance Parcel G �// Tax Parcel#783930-0305 339 Burnett Avenue South Title Insurance Parcel H ENVIRONMENTAL AUDIT PERMIT Page 3 of 3 A8.115:45. `%rr %aw CHICAGO TITLE INSURANCE COMPANY 1800 COLUMBIA CENTER, 701 FIFTH AVE., SEATTLE, WA 98104 (206) 628-5666 FAX (206) 628-9737 April 21, 1998 SEATTLE OFFICE ESCROW DEPARTMENT City of Renton Office of the City Attorney Attn: Lawrence Warren 100 South 2"d Street WAWEN KEL.LOtiG BARBER Renton, WA 98057 DEAN & FGM i LS, P S. REGARDING: Escrow Number: 482757-SS Buyer: RENTON RENAISSANCE APARTMENTS LLC Seller: THE CITY OF RENTON Property: LOGAN AVE. S. @ CEDAR RIVER PIPELINE, RENTON, WA. Dear Mr. Warren: In connection with the above referenced transaction, we enclose herewith the following documents for signature as indicated: • Estimated Settlement Statement • Escrow Instructions • Statutory Warranty Deed (must be notarized!) • Excise Tax Affidavit • Certificate of Non-Foreign Status Please call our office when they are complete, and we will arrange to pick them up. Please include instructions with the return package as to how to disburse your proceeds (ie. bank wire instructions). Should you have any questions, please feel free to contact the undersigned at(206) 628-5693. Very truly yours, Scott Smouse Commercial Escrow Specialist SS/kl encl. i CERTIFICATION OF NONFOREIGN STATUS (Corporation, Partnership, Transferor Estate) Section 1445 of the Internal Revenue Code provides that a transferee of a U.S. real property interest must withhold tax if the transferor is a foreign person. To inform the transferee that withholding of tax is not required upon the disposition of a U.S. real property interest by THE CITY OF RENTON, the undersigned hereby certifies the following on behalf of THE CITY OF RENTON: (1) THE CITY OF RENTON is not a foreign corporation, foreign partnership, foreign trust, or foreign estate (as those terms are defined in the Internal Revenue Code and Income Tax Regulations) ; (2) THE CITY OF RENTON IS U.S. employer identification number is: 9/• 4 40 /12'11 , and (3) THE CITY OF RENTON 's office address is: 200 MILL AVENUE SOUTH RENTON, WASHINGTON 98055 THE CITY OF RENTON understands that this certification may be disclosed to the Internal Revenue Service by transferee and that any false statement contained herein could be punished by fine, imprisonment, or both. Under penalties of perjury I declare that I have examined this certification and to the best of my knowledge and belief it is true, correct and complete, and I further declare that I have authority to sign this document on behalf of THE CITY OF RENTON. Dated: L 1998. By. `` Its: Mayor 1F. �Lu ) 4,24dA S1BLAv'K/1-10.97/RLM v�rrr' CHICAGO TITLE INSURANCE COMPANY ESTIMATED SELLER'S SETTLEMENT STATEMENT PAGE: 01 ESCROW NUMBER: 00633-000482757-001 ORDER NUMBER: 00633-000482757 CLOSING DATE: 04/24/98 CLOSER: SCOTT SMOUSE - 206-628-5693 BUYER: RENTON RENAISSANCE APARTMENTS LLC A WASHINGTON LIMITED LIABILITY COMPANY SELLER: THE CITY OF RENTON A WASHINGTON MUNICIPAL COPORATION PROPERTY: LOGAN AVE. S. @ CEDAR RIVER PIPELINE, RENTON, WASHINGTON CHARGE SELLER CREDIT SELLER Sales Price $ $ 354,403 .00 Prorations And Adjustments SPECIAL TAXES from 04/24/98 to 01/01/99Total amoun3 .45 SPECIAL TAX Stfrom 04/24/985to001/01/9for 9 days 3.45 Total amount $ 5.00 for 365 days OWNER'S STANDARD POLICY @ $354,403.00 789.00 TITLE SALES TAX 67.85 ESCROW FEE: 1/2 FEE @ $354,403.00 600.00 ESCROW SALES TAX 51.60 MESSENGER/DELIVERY CHARGES (1/2 CHARGE) 35.00 MESSENGER SALES TAX 3.01 COMMISSION: RON KNIGHT (4%) 14,176.12 1998 SPECIAL TAXES: PARCEL A 5.00 1998 SPECIAL TAXES: PARCEL B 5.00 Funds Due To Seller At Closing 338,677.32 -------------- -------------- TOTALS $ 354,409.90 $ 354,409.90 a J _ _ By: THS CITY OF R=ON Its: Mayor it o-r o}CD _ A WASHINGTON MUNICIPAL COPORATION DATE: 04/21/98 08:50:2 .j i err 'C WHEN RECORDED RETURN TO DON DALLY, PRESIDENT DALLY HOMES, INC. •i' 3316 FUHRMAN AVVENUE EAST SEATTLE, WA 98102 'A CHICAGO TITLE INSURANCE COMPANY STATUTORY WARRANTY DEED 482757 m Dated: APRIL 21, 1998 1 THE GRANTOR THE CITY OF RENTON, A MUNICIPAL CORPORATION :i for and in consideration of j TEN DOLLARS AND OTHER GOOD AND VALUABLE CONSIDERATION a"! >, in hand paid,conveys and warrants to �y RENTON RENAISSANCE APARTMENTS LLC, A WASHINGTON LIMITED LIABILITY COMPANY the following described real estate situated in the County of KING State of Washington: Tax Account Number(s): 569600-0010-06 AND 569600-0010-06. IA y THE ABBREVIATED LEGAL DESCRIPTION IS AS FOLLOWS: LOTS 6-7, BLOCK 1, kj VOLUME 26 PLATS, PG 47; AND LOTS 2-25, BLOCK 1, VOLUME 9 OF PLATS, PG 50. .Ff THE COMPLETE LEGAL DESCRIPTION IS LOCATED ON PAGE 2 AS EXHIBIT A. 'rr.q r; SUBJECT TO: EXCEPTIONS SET FORTH ON ATTACHED EXHIBIT "B" AND BY THIS w REFERENCE MADE A PART HEREOF AS IF FULLY INCORPORATED HEREIN. �Jpia iyt! r. SEE ATTACHED DESCRIPTION f i ,rY je! 1 n CHICAGO TITLE INSURANCE COMPANY Escrow No.: 482757 EXHIBIT A Tills No.: 482757. �j 4'j s SIGNATURE PAGE L� wl V 1 THE CITY OF RENTON, THE CITY OF RENTON, A MUNICIPAL CORPORATION a munri:e-� al corporatio —044 BY i n x! �.� B ITS: Mayor Its Mayor ProTem q4 N i STATE OF WASHINGTON SS COUNTY OF KING N i I CERTIFY THAT I KNOW OR HAVE SATISFACTORY EVIDENCE THAT 5;1 ��SS E TRNN�l2� IS THE PERSON WHO APPEARED BEFORE } ME, AND SAID PERSON ACKNOWLEDGED THAT 4E SIGNED THIS INSTRUMENT, ON OATH STATED THAT WAS AUTHORIZED TO EXECUTE THE INSTRUMENT AND ACKNOWLEDGED IT AS $fATkTbKy WAKI?NYfy DptboF THE CITY OF % RENTON, A MUNICIPAL CORPORATION, TO BE THE FREE AND VOLUNTARY ACT OF SUCH PARTY FOR THE USES AND PURPOSES MENTIONED IN THE INSTRUMENT. DATED: APRIL 1998. ,? PRINTED NAME: 444/e/( V/y V. nn l'r;T9(fej.�Jl� NOTARY PUBLIC IN AND FOR THE STATE OF WASHINGTON RESIDING ATa:/yW/(I MY APPOINTMENT EXPIRES JO - 8 POL "0 IVA ue1�c = `o STATE OF WASHINGTON ss' COUNTY OF KING CHICAGO TITLE INSURANCE COMPANY {a . ai EXHIBIT B Escrow No.: 482757 SUBJECT TO: F; A 1. EASEMENT AND THE TERMS AND CONDITIONS THEREOF: �x o;} RESERVED BY: CITY OF RENTON PURPOSE: UTILITY AREA AFFECTED: VACATED ALLEY WITHIN PARCEL A RECORDED: JUNE 18, 1973 RECORDING NUMBER: 7306180482 s SAID INSTRUMENT BEING CITY OF RENTON ORDINANCE NUMBER 2779. c 2. RIGHT OF THE PUBLIC TO MAKE NECESSARY SLOPES FOR CUTS OR FILLS UPON SAID PREMISES IN THE REASONABLE ORIGINAL GRADING OF STREETS, AVENUES, ALLEYS, AND ROADS AS DEDICATED IN THE PLAT. {.g ha AFFECTS: PARCEL A ra LLQ,` r 4. THE PROPERTY HEREIN DESCRIBED IS CARRIED ON THE TAX ROLLS AS z7 EXEMPT, HOWEVER IT WILL BECOME TAXABLE ON THE DATE OF THE EXECUTION OF A CONVEYANCE TO A TAXABLE ENTITY AND SUBJECT TO THE p; LIEN OF REAL PROPERTY TAXES FOR THE BALANCE OF THE YEAR FROM THAT -� DATE. s! ` TAX ACCOUNT NUMBER: 784180-0035-00 LEVY CODE: 2100 ASSESSED VALUE-LAND: $ 236, 300.00 ASSESSED VALUE-IMPROVEMENT: $ 700.00 z: AFFECTS: GENERAL TAXES AS TO PARCEL A. sl ';y x 6. THE PROPERTY HEREIN DESCRIBED IS CARRIED ON THE TAX ROLLS AS J.r EXEMPT, HOWEVER IT WILL BECOME TAXABLE ON THE DATE OF THE EXECUTION OF A CONVEYANCE TO A TAXABLE ENTITY AND SUBJECT TO THE LIEN OF REAL PROPERTY TAXES FOR THE BALANCE OF THE YEAR FROM THAT DATE. z'w TAX ACCOUNT NUMBER: 569600-0010-06 LEVY CODE: 2100 ASSESSED VALUE—LAND: $ 143,200.00 ' ASSESSED VALUE—IMPROVEMENT: $ 11,300.00 kt >:f AFFECTS: GENERAL TAXES AS TO PARCEL B. \ } CHICAGO TITLE INSURANCE COMPANY ( ' . § £XHIBI A % . E cow No: 482757 ) LEGAL DESCRIPTION ) The land refs 3a to§situated in ac State of Washington,County/ KING and is dscribed as follows: / PARCEL A: \ ) \ \ 1 LOTS § AND 7, BLOCK 1, SMITHERIS SIXTH ADDITION TO THE TOWN OF RENTON \ ACCORDING TO THE PLAT THEREOF, RECORDED IN VOLUME 26 OF PLAT, PAGE 47, IN . jKING c0UNTY, WASHINGTON. . ) ) TOGETHER WITH THAT PORTION of THE ALLEY ADJACENT TO SAID LOT G VACATE\$Y \ CITY of RENTON ORDINANCE BSER 2779, WHICH ATTACHED BY OPERATION OF LAK. / \\ 2 \ j PARCEL B: \ LOT 2 THROUGH s, INCLUSIVE, BLOCK 1, MOTOR GINE ADDITION TO RENTON, . \ ACCORDING To THE PLAT THEREOF, RECONED IN VOLUME 9 of PLATS, PAGE 501, IN / KING COUNTY, WASHINGTON. . j \ \ / . . . \ § . . \ / § \ ) ƒ \ \ / { \ . \ § § \ § rCHICAGO TITLE INSURANCE COMPANY ,i 1800 COLUMBIA CENTER, 701 5TI�VeENUE, SEATTLE, WASHINGTON 98104 (2 0 6) 628-5666 (206) 628-9737 ESCROW INSTRUCTIONS ., Escrow No. 482757 ;1 Title No. 482757 3 Date: APRIL 21, 1998 fi Buyer: RENTON RENAISSANCE APARTMENTS LLC, A WASHINGTON LIMITED LIABILITY COMPANY Seller: THE CITY OF RENTON, A WASHINGTON MUNICIPAL COPORATION ^+ Property: LOGAN AVE. S. @ CEDAR RIVER PIPELINE fi5 RENTON, WASHINGTON �n j TO: CHICAGO TITLE INSURANCE COMPANY }t 1800 COLUMBIA CENTER, 701 5TH AVENUE SEATTLE, WASHINGTON 98104 H�y 4 y SELLER herein shall deposit with escrow under these instructions the following: REAL ESTATE PURCHASE AND SALE AGREEMENT & ADDENDUMS THERETO, IF ANY s ESTIMATED SETTLEMENT STATEMENT NOTICE: THE ESTIMATED CLOSING STATEMENT IS SUBJECT TO CHANGES, CORRECTIONS AND/OR ADDITIONS AT THE TIME OF FINAL COMPUTATION OF CLOSING ESCROW STATEMENT. STATUTORY WARRANTY DEED REAL ESTATE EXCISE TAX AFFIDAVIT CERTIFICATION OF NONFOREIGN STATUS (IRS FIRPTA AFFIDAVIT) tfi y f` which you are instructed to deliver,release and/or record when you have for the account of the seller THREE HUNDRED FIFTY-FOUR THOUSAND FOUR HUNDRED THREE AND 00/100 ($354,403 .00 ) subject to any charges and/or credits authorized herein and PURCHASER herewith deposits with escrow: LOAN DOCUMENTS IN FAVOR OF SEATTLE MORTGAGE COMPANY r FIRE INSURANCE IN FAVOR OF SEATTLE MORTGAGE COMPANY FUNDS AS REQUIRED TO CLOSE ESTIMATED SETTLEMENT STATEMENT NOTICE: THE ESTIMATED CLOSING STATEMENT IS SUBJECT TO CHANGES, CORRECTIONS AND/OR ADDITIONS AT THE TIME OF FINAL COMPUTATION OF !. CLOSING ESCROW STATEMENT. 4- :! which sums and documents you are instructed to use: 1. When you are able to close according to the terms and conditions set forth in the Real Estate Purchase and Sale "k) Agreement and Addendums attached thereto and in compliance with these instructions,and issue your policy a' (or policies)of title insurance in the amount(or amounts)as follows: a? OWNER'S EXTENDED POLICY @ $354,403.00 (SELLER PAYS STANDARD PORTION ONLY) ; AND LENDERS EXTENDED POLICY @ $7, 500,000.00 ESCROW INSTRUCTIONS „+ EscrowvNo. 482757 *r.r v oODate: APRIL 21, 1998 Title No. 482757 3. The undersigned have examined and hereby approve for use in this escrow the documents described above,as to content and form. 4. Assume a per diem basis in any pro-rate herein provided,and unless parties otherwise instruct you,you ate to use >a the information contained in the last available tax statement as provided by the seller,beneficiary's statement, and fire insurance policies delivered into escrow for the pro-rates provided above. y Ps 5. All money received by you in this escrow is to be deposited in your trust account pending closing. It is understood that all checks,money orders or drafts will be processed for collection in the normal course of business. You may Ycommingle funds received in this escrow with escrow funds of others, and you may,without limitation, deposit such funds in your custodial or escrow accounts with any reputable trust company,bank,savings bank,savings association,or other financial services entity,including any affiliate of Chicago Title Insurance Company. You shall be under no obligation to invest the funds deposited with you on behalf of any depositor,nor shall you be accountable for any earnings or incidental benefit attributable to the funds which you may receive while you hold such funds. If for any reason funds are retained or remain in escrow after closing date,you are authorized to deduct therefrom -' a reasonable charge as custodian. h 6. You are instructed that all money and documents required by you herein shall be deposited with you on or before ?; APRIL 24, 1998 If this escrow has not been placed in a condition to close by said date,the above items deposited by me(us)are to be returned to me(us)upon written demand, at which time I/we will pay all your a charges in connection herewith,but in the absence of such written demand,you will proceed with these instructions } as soon as practicable. 7. These closing escrow instructions may be executed in counterparts with like effect as if all signatures appeared on a single copy. Facsimile copies of certain documents may be accepted,at the discretion of Chicago Title Insurance i, Company,for purposes of closing. j 8. These escrow instructions are not intended to amend,modify or supersede the terms and conditions set forth in the Real Estate Purchase and Sale Agreement and Addendums thereto,if any. Escrow is to be concerned only with the provisions specifically set forth in these instructions and identified by the Buyer and Seller as conditions to the closing of this escrow. 9. You are instructed to furnish to any broker or lender identified with this transaction or anyone acting on behalf of such lender,any information concerning this Escrow upon request of said broker or lender. A'a 10. Should any dispute arise between parties interested in property or funds covered by these instructions,you'' l shall have the option to hold all matters pending in their then existing status or to join in or commence a court 7 action,deposit the money and documents referred to herein into the Registry of the Court or upon holdin&,this escrow open for determination of the rights of the parties,you will be relieved of all responsibility. Il is further agreed that in the event of any suit or claim made against you by either or both parties to this agreement,that said f parties shall be required to pay you all expenses,costs and reasonable attorney's fees in connection therewith,, whether suit is instituted by you or any of the parties hereto. h Escrow Holder is to assume no responsibility or liability for the preparation of the Truth in Lending,Consumer 41 Protection Statement. :£ 12, Escrow Holder is to assume no responsibililty or liability for the calculation,deduction,or any other act such as ' the withholding of funds and/or for the payment of taxes in compliance with the Foreign Investment in Real,Property Y sr Tax Act as amended in 1984(IRC 1445 et seq.). The determination of whether such tax is due and its payment or a withholding,if due,shall be handled by the parties outside of escrow.Escrow Holder has advised the parties to ' contact their attorney or tax advisor regarding the applicability of section 1445 to this transaction. Escrow Holder reserves the right to take any action it believes the law requires it to take,whether included in instructions or not. r:. s 13. The legal description as in Preliminary Commitment for Title Insurance No. 4 8 2 7 5 7 is that of the property 3 intended to be conveyed in this transaction. 14. The undersigned hereby acknowledge receipt of the Commitment for Preliminary Title Insurance covering subject property together with Escrow Agents Admission to Practice Rule Disclosure. 15. You are instructed to prorate as of the dale of recording the following: SPECIAL TAXES ONLY. 16. THE UNDERSIGNED HEREBY ADVISE ESCROW HOLDER THAT PRO-RATION AND PAYMENT OF ALL UTILITIES, INCLUDING BUT NOT LIMITED TO WATER, SEWER, GARBAGE, ELECTRICITY, GAS AND OIL, WILL BE HANDLED BETWEEN THE PARTIES OUTSIDE OF ESCROW. ESCROW HOLDER SHALL NOT BE RESPONSIBLE FOR DETERMINING WHETHER ANY UTILITY CHARGES ARE OR MAY BECOME DUE OR FOR PAYMENT OF ANY SUCH CHARGES. BY SIGNING THESE INSTRUCTIONS, THE UNDERSIGNED HEREBY ASSUME FULL RESPONSIBILITY FOR PRORATION ESCROW INSTRUCTIONS Escrow No. 482757 Ki Title No. 482757 ) ate: APRIL 21, 1998 ' \ ADDITIONAL INSTRUCTON& ) \ ` \k 18. THE UNDERSIGNED HEREBY AGREE THAT ALL SPECIAL CONDITIONS AND CONTINGENCIES of THE PURCHASE AND SALE AGREEMENT, TOGETHER WITH ANY AND ALL ADDENDA THERETO, EITHER / HAVE BEEN OR WILL BE NET TO THEIR SATISFACTION OR WAIVED. CIc GO TITLE\AS jESCROWEE, SHALL ONLY BE RESPONSIBLE FOR CLOSING IN ACCORDANCE WITH THE WRITTEN TERMS J OF THE PURCHASE AND SALE AGREEMENT AND ANY OTHER WRITTEN INSTRUCTIONS DEPOSITED TO \ ESCROW. THE PARTIES SHALL HOLD CHICAGO TITLE INSURANCE COMPANY AND ITS EMPLOYEES j HARMLESS FROM ANY CLAIM RESULTING OM 222 FAILURE OF ANY PARTY TO MEET A ADDITIONAL CONDITIONS AND/O§ CONTINGENCIES. 19. BUYER HEREIN HAS READ, RECEIVED AND APPROVED CHICAGO TITLE INSURANCE COMPANY'S PRELIMINARY TITLE COMMITMENT DAT ED JUNE 30, 1997, AT 8:00 A.M. AND IS AWARE OF THE \ CONTENTS THEAIN AND DIRECT ESCROW HOLDER TO PROCEED WITH THE CLOING of THIS / ESCROW AS DIRECTED HEREIN. 711 / j 20. THE UND2RSIGSD HEREBY ADVISE ESCROW HOLDER THAT PRORATION AND PAYMENT of ALL / UTILITIES, INCLUDING BUT NOT LIMITED z, WATER, SEWER, GARBAGE, ELECTRICITY, GAS AND j Olt, WILL BE HANDLED BETWEEN THE PARTIES OUTSIDE OF ESCROW. \ ESCROW HOLDER SHALL NOT BE RESPONSIBLE FOR DETERMINING WHETHER ANY UTILITIES CHARGES \ ARE 0R MAY BECOME Du OR FOR PAYMENT OF ANY CHARGES. BY SIGNING THESE INSTRUCTIONS, \ THE UNDERSIGNED HEREBY ASSUME FULL RESPONSIBILITY FOR PRORATION AND PAYMENT, IF ANY, \ OF UTILITIES AS DESCRIBED ABOVE AND AS MAY BE CONTAINED IN THE EARNEST MO§ES RECEIPT © AND AGREEMENT BETWEEN THE PARTIES. \ ƒ d \ � / / \ \ / . . \ \ \ q , . / \ \ \ Q 9 $ , . / d ESCROW INSTRUCTIONS ) ` ) E crow No. 482757 . \ j Title No. 482757 . . jDate APRIL 21, 1998 § ( DECLARATION OF ESCROW SERVICES { Both Purchaser and Seller«koweg by me signatures he30 the following: y § Ihave been 9e 6calyiflme that CHICAGO TITLE INSURANC£ COMPANY(hereinafter designated \ 'CHI AGO')§nilicensed mpa i law and no legal advice habe offered by CHICAGO lany/its jemployees. lhave been further informed that CHICAGO is acting only ions escrow holder and that i\forbidden jby law from offering any advice»any party respecting the merits ofthsescrow transaction or thenature of the j instruments ul1 e,a am&khsntd n so. - \ . . Ihv not been referred b CHICAGO to any named atttany7attorneys 7discouraged from seeking a«c of any attorney but have be requested»seek legal counsel J myown choosing at my own expense,ifIhave.doubt conce6n any aspect ofthstra sacro. \ Ifurther d daeallislume R to which lamaparty,Epc@me by CHICAGO,have be prepared under the direction of myattorney or myc£! and parlml declare that copying legal descriio2Eom§ !lcrpla! j into forms odeed,etc.7reforming olegal descriptions or agreements is,or will be solely at mydirection { or request. § \ !have been a ££7daadequate time and opportunity to read and understand±GcaJowinstructions and all / mhrdocuments rare mtherein. J \ . . j \ j THE UNDERSIGNED HAVE READ AND FULLY UNDERSTAND T4EF)REGOING CLSINGIN5mUC!]ONS AND ALSO THE DECLARATION SET FORTH ABOVE AND AGREE TO THE SAME \ § . . \ \ Signature page attached. ) RENTON RENAISSANCE APARTMENTS LLC THE CITY of RENTON A WASHINGTON LIMITED LIABILITY COMPANY a w 0 MUNICIAL coPoRA2l0§ \ \ n � j Its: Ma o£ t j § \ . \ Forwarding Address: \ j CHICAGO TITLE INSURANCE EOM«ANY \ ` E cow Nm: 482757 EXHIBIT . A T!c! Nm: 482757 ) � G � § ) � ) SIGNATURE ,&G \ . NTo§ RENAISSANCE APARTMENTS LLC, § A WASHINGTON LIMITED LIABILITY COMPANY k \ ) . . 2 BY: DALLY PROPERTIES LLC, . . \ A LIMITED LIABILITY COMPANY, � \ \ ITS MANAGING MEMBER . \ � � ƒ , . ) BY: « » . : DONALD F. DALLY, § CAGING MEMBER } � \ ) \ � § � � k \ ) \ � ) � \ \ j . . \ � j . \ . \ . . e:. PLEASE TYPE OR PRINT REAL ESTATE EXCISE TAX AFFIDAVIT This form is your receipt when stamped PLEASE SEE REVERSE ol by cashier. ; CHAPTER 82.45 RCW- CHAPTER 458-61 WAC For Use at County Treasurer's Office (Use Form No. 84-OOOIB for Reporting Transfers of Coutrolling Interest of Entity Ownership to the Department of Revenue) #482757—SS IDIS AFFIDAVIT WILL NOT BE ACCEPT';D UNLESS ALL AREAS 1-7 ARE FULLY COMPLETED ® Name THE CITY OF RENTON, ® NameRENTON RENAISSANCE APARTMENTS , �a A MUNICIPAL CORPORATION xi LIABIILA TY COMPANY 200 Mill Avenue South H 3316 Fuhrman Ave. E. Suite 100 Street .1 Street_._ City/State/zip Renton, WA 98055 City/State/Zip Seattle, WA 98102 f; AllDRESS TO SEND ALL PROPERTY TAX RELATED CORRESPONDENCE ALL TAX PARCEL NUMBERSiT ' Same as Buyer.er. 7841 0-00 35- 00Name A Street 569600-0010-06 City/State/Zip i ® LEGAL DESCRIPTION OF PROPERTY SITUATED IN O UNINCORPORATED COUNTY P9 OR IN CITY OF Renton Street Address (if property is improved): , Legal description is attached as Exhibit A. ® Is this property currently: YES NO Description of tangible personal property if included in sale(furniture, iry Classified or designated as forest land? appliances, etc.) Chapter 84.33 RCW Classified as current use land (open space, farm ❑ �] `' and agricultural, or timber)? Chapter 84.34 RCW R Exempt from property tax as a nonprofit If exemption claimed, list WAC number and explanation. organization? Chapter 84.36 RCW 458-61-420(l ) Govenmental. Seller's Exempt Reg. No. _____—___ WAC No. (Sec/Sub) Receiving special valuation as historic ❑ n Explanation Grantor is Washington fix property? Chaptei 84.26 RCW 3f Municipal Corporation. ° Property Type: K land only ❑ land with new building ;a CI land with previously used building ❑ land with mobile homeTypc. of Document Statutory Warranty Deed " L1 timber only ❑ building only Date of Document April , 1998 } Principal Use: ❑ Apt. (4 + unit) ❑ residential s ❑ timber 0 agricultural ❑ commercial/industrial Gross Sale Price $ ❑ other Personal Property (deduct) $ Taxable Sale Price $ (1) NOTICE OF CONTINUANCE (RCW 84.33 or RCW 84.34) Excise Tax: State $ If the new owner(s)of land that is classified or designated as current use ? or forest land wish to continue the classification or designation of such 1,ocal $ r; land,the new owner(s)must sign below.If the new owner(s)do not desire Delinquent Interest: State $ to continue such classification or designation, all compensating or addi- Local $ t` tional tax calculatedursuant to RCW 84.33.120 and 140 or RCW P Delinquent Penalty: State $ (� 84.34.108 shall be due and payable by the seller or transferor at the;time ii of sale.The county assessor must determine if the land transferred qualities Total Due $ _ to continue classification or designation and must so indicate below. 'THERE IS A $2.00 FEE FOR PROCESSING THIS FORM IF NO TAX IS DUE ;) Signatures do not necessarily mean the land will remain in classification — ' or designation. If it no longer qualifies, it will be removed and the corn- ® AFFIDAVIT Nnsating taxes will be applied. All new owners must sign. 1 certify under penalty of perjury under the laws of the state of This land ❑does ❑does not qualify for continuance. Washington that the for ng is true and correct(See back of this form). �,...f Date Signature of DEPUTY ASSESSOR Grantor/Agent (2) NOTICE OF COMPLIANCE (Chapter 84.26 RCW) Name (print) { .TErlr7 E ?&(Afek Iftw Offer To Purchase The City of Renton,a municipal corporation,hereinafter Buyer,agrees to buy the property legally described as: Lot 6, Block 2, Motor Line Addition to Renton according to the plat recorded in Volume 9 of Plats, page 50, records of king County,Washington. Purchase Price: The purchase price shall be Fifty Thousand and N0/100 Dollars($50,000.00) Payable in US currency upon closing. Closing Date/Agent: Closing shall be as soon as possible,not later than October 31, 1997 dao after A kacceptance of this offer. Possession: Buyer shall be entitled to possession of the property upon closing. Agency: At the signing of this agreement,neither party is represented by an agent. Condition of Title: Title to the property shall be marketable at closing. Seller authorizes the escrow agent to apply for a standard form buyer's policy of title insurance,at Buyer's expense. Title shall be conveyed by Statutory Warranty Deed. Closing Costs and Prorations: Buyer shall pay all costs incurred in this transaction. Taxes for the current year shall be prorated as of the date of closing; however it is understood and agreed that the Seller has a lease which requires the tenant to pay the taxes,and,the City of Renton has assumed the terms of said lease, therefore the City of Renton shall be responsible for payment of any property taxes due at closing. Performance: Time is of the essence of this agreement. Agreement: On this 17th day of October, 1997,Buyer agrees to purchase this property on the above terms and conditions. City of Renton, 200 ue S,Renton WA 98055 BY: t Thomas G.Boylis, Property Services Supervisor Acceptance: On this .17th day of October, 1997, Seller agrees to sell the property on the above terms and conditions,and acknowledges receipt of a copy of this agreement: John W. Adams Emily J. CITY OF RENTON TR Planning/Building/Public Works Department Jesse Tanner,Mayor Gregg Zimmerman P.E.,Administrator October 13, 1997 John W.Adams Emily J.Adams 7548*South Sunnycrest Road Seattle WA 98178 SUBJECT: ACQUISITION OF STREET RIGHT-OF-WAY TRANSIT HUB PROJECT TAX PARCEL#569600-0075 Dear John W.Adams and Emily J.Adams: The City of Renton needs to purchase your property for the Transit Hub Project improvements. The value of your property needed by the City for this project has been determined by a professional appraisal made by a qualified appraiser and is based upon the fair market value of your property. The appraised value has been reviewed by a review appraiser to establish the Just Compensation which has been allocated as follows: Total Just Compensation $50,000.00. Our offer is the fair market value as determined through the appraisal process. Payment for your property and/or property rights will be made available to you by certified mail within approximately 45 days after you accept the City's offer, provided that there are no delays in closing the transaction. The date upon which the payment is made available to you is called the "Payment Date" and is the date upon which the City becomes the owner of the purchased property and/or property rights. A copy of our Right-of-Way plan showing the property affected by the project, and a summary of the appraisal conclusions accompany this offer. A draft deed showing the legal description of the appraised area of interest is also included for your review. Please feel free to call me with any question at(206)277-6209. Sincerely, 11*4 t� Thomas G. yns Property Services Supervisor Enclosures: Right-of-Way plan sununary of appraisal conclusions draft deed 200 Mill Avenue South - Renton, Washington 98055 ®This paper contains 50%recycled material,20%post consumer PACIFIC NORTHwEsT TITLE Company of Washington, Inc. WARREN KELLOGG 8,.jRgR DEAN & FON TL,, �- Warren, Kellogg, Barber, Dean & Fontes, P. S . P.O. Box 626 Renton, Washington 98057-0626 Order No. : 314570 Your Ref . : CITY OF RENTON Enclosed is your Policy for Title Insurance on the above-referenced transaction. Thank you for the opportunity of serving you. We look forward to working with you again. Mike Sharkey Senior Title Officer Unit 12 1201 Third Avenue r Suite 3800 & Seattle, WA 98101-3055 & (206) 622-1040 f Fax: (206) 343-1358 http://pnwt.com POLICY OF TITLE INSURANCE ISSUED BY SUBJECT TO THE EXCLUSIONS FROM COVERAGE, THE EXCEPTIONS FROM COVERAGE CONTAINED IN SCHEDULE B AND THE CONDITIONS AND STIPULATIONS, PACIFIC NORTHWEST TITLE INSURANCE COMPANY, INC., a Washington corporation, herein called the Company, insures, as of Date of Policy shown in Schedule A, against loss or damage, not exceeding the Amount of Insurance stated in Schedule A, sustained or incurred by the insured by reason of: 1. Title to the estate or interest described in Schedule A being vested other than as stated therein; 2. Any defect in or lien or encumbrance on the title; 3. Unmarketability of the title; 4. Lack of a right of access to and from the land. The Company will also pay the costs, attorneys' fees and expenses incurred in defense of the title, as insured, but only to the extent provided in the Conditions and Stipulations. IN WITNESS WHEREOF, Pacific Northwest Title Insurance Company, Inc. has caused this policy to be signed and sealed by its duly authorized officers as of the Date of Policy shown in Schedule A. APresident 044 PACIFIC NOR'IHWFST TITLE Countersigned by: Insurance Company,Inc. ��ZIE IN3�,q Authorized Signatory OHMOR4TE eco PACIFIC NORTHWEST TITLE o; , W,SEAL � Company Seattle, Washington a�• rsxe .i ter` y +........• k'gSNIN6t0� City,State EXCLUSIONS FROM COVERAGE The following matters are expressly excluded from the coverage of this policy and the Company will not pay loss or damage,costs, attorneys'fees or expenses which arise by reason of: 1. (a) Any law, ordinance or governmental regulation (including but not limited to building and zoning laws, ordinances, or regulations) restricting, regulating, prohibiting or relating to (i)the occupancy, use, or enjoyment of the land; (ii)the character, dimensions or location of any improvement now or hereafter erected on the land;(iii)a separation in ownership or a change in the dimensions or area of the land or any parcel of which the land is or was a part;or(iv)environmental protection,or the effect of any violation of these laws,ordinances or governmental regulations,except to the extent that a notice of the enforcement thereof or a notice of a defect,lien or encumbrance resulting from a violation or alleged violation affecting the land has been recorded in the public records at Date of Policy. (b) Any governmental police power not excluded by(a)above,except to the extent that a notice of the exercise thereof or a notice of a defect, lien or encumbrance resulting from a violation or alleged violation affecting the land has been recorded in the public records at Date of Policy. 2. Rights of eminent domain unless notice of the exercise thereof has been recorded in the public records at Date of Policy,but not excluding from coverage any taking which has occurred prior to Date of Policy which would be binding on the rights of a purchaser for value without knowledge. 3. Defects, liens,encumbrances,adverse claims or other matters: (a) created,suffered,assumed or agreed to by the insured claimant; (b) not known to the Company,not recorded in the public records at Date of Policy, but known to the insured claimant and not disclosed in writing to the Company by the insured claimant prior to the date the insured claimant became an insured under this policy; (c) resulting in no loss or damage to the insured claimant; (d) attaching or created subsequent to Date of Policy;or (e) resulting in loss or damage which would not have been sustained if the insured claimant had paid value for the estate or interest insured by this policy. 0-1093- 33255 ALTA OWNER'S POLICY—10-17-92 (Aoilod siy;;o e6ed;sel uo pepnjouoo pue penuguoo) 'slsoo Aue qpm jay196ol'Ao!!od s!yl japun 1su!ebe pajnsu!w!elo Aue luew!elo pajnsu! 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'aleu!wj9; ay;u! paansu! a141!q pajjnou! sasuadxa jo slsoo 'saal Aue Aed lou p!m Auedwo0 Ileys 'paj!nbaj luewALd ail ejew 01 uey;jaylo 'Aopod s!yl japun pajnsu! ail of ail-lesunoo jaylo (ue to seal ail!ed lou p!m pue jot a!ge!l eq lou pegs pue uo!loe suo!le6!!go pue I!I!ge!!Ile'uopdo s!14;to/uedwo0 a14; (q as!ojaxe ay;uodn to sasneo palels asoy;of se paansu!ay;;uasajdaj of(asneo a!geuoseei jol;oalgo -Aed of pa4e6!!go s!Auedwo0 ail 4o!4A^pue of pajnsu!ail 10 ly6!j ail of loafgns)ao!ogo sl!10!asunoo;oa!as of 3y6!j 914;aney luaw(ed 10 japual jo luaw4ed 10 aw!1 aql of do '(uedwo0 ail Aq paz!joylne ajam Ilegs Auedwo0 ail Aopod s!yl Aq lsumbe pajnsu! jallew jaylo jo aouejgwnoua 14o!ym'luew!elo pajnsu!ail Aq paaanou!sesuadxa pue seal,s4aujolle';soo Aue 141!m jo ua!! ';oalap a 6u!6a!!e uo!;oe ;o sasneo palels asoy; o; se Aluo ;nq 'paansu! j9il96ol Ao!!od s!y1 japun eouejnsu!;o lunowe ail to luaw(ed japual jo(ed of se;sajalu!jo 011!1 ay;01 9sj9Ape w!elo a sliesse Alred pj!y;Rue yo!gm u!uoµe6!;!l u! pajnsu! ue 10 esu-lap ail jot ap!Aojd ;leis 'Ae!ap a!geuoseajun 1noy1!m pue •90uejnsul;o lunowV ail;o luawAed japual jo Aed of (e) ;so0 umo s;! ;e 'Auedwo0 ay; 'suoµe!ndµs pue suo!;!puo0 asay;;o g uo!l0as u! :suo!ldo!euoµ!ppe pau!eluoo suo!ldo ail of loalgns pue paansu!ay1!q;sanbei uall!jm uodn (e) 6u1Mo!lol 914; aney lleys Auedwoo ail 'Ao!!od s!i1 japun w!elo a ;o aseo u! '31tl1i3d000 Ol 1NVWIVI0 A11118V11 03unSNI d0 Alna:SN0110V d0 NOI1n03SObld 0NV 3SN3j3O b d0 N0I1VNIWH31:SWIV10 31119S 3SIMM31410 80 AVd Ol SN0I1d0 '9 ,ao!pnlajd ay;to;ua;xe ail of Aluo uay;pue -uj!e10 1e41 01 ajn!!e1 ay;(q peo!pnlajd aq l!eys Auedwo0 ail ssa!un Ao!!od s!yl japun paansu! 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AlIdwad Auedwo0 a141 A;µou !legs pajnsu! ail 10 aA!leluasajdaj paz!joq;ne Aue jol'builum w 'uo!ss!wied sl!luej6!leys;uew!e!o '1NVWIVIO 03unSNl A8 N3AI`J 38 Ol WIVIO 30 30110N T pajnsu!ail'(uedwo0 9L41;o aA!;elu9s9jdaj paz!jogjne Aue Aq palsanbaa 1!'ja14ljn:j abewep jo ssol ay;of u!eljad/lgeuoseeA y0!im'(01Iod;0 ale(]jalle jo ajolaq a;ep a pajnsu!ail 01 uaA!6 abe6;jow lauow aseyojnd a Aq pajnoas buueaq jaylegm`epuejowew pue aouapuodsaino`s�oayo'sjabpel's looq`spaooaa ssaupelgapu!ue(!!)jo'pue!9141 u!ysajeju!jo alelsa pue(!)jayl!a to paansu!ay;wojl Ile'(uedwo0 ail 10 anµeluasajdaj pazuoylne Rue Aq paleu6!sep aq/ew se seoeld jaseyojnd (ue 10 jonel u!gaol u!anu!luoo lou Reqs Ao!!od s!14l•;sajalw jo alelsa pue saw!l eIgeuoseej yons le '5wAdoo pue uo!loadsw 'uo!;eu!wexa jol eonpojd ay;10 9oueAGAu00 10 jalsuejl (ue ul pajnsu! ail (q @pew AlueAeM 10 slueu9A00 !legs pue Ruedwo0 ay;to,9A!;elu9sajdaj pazpoi;ne!ue (q ileo aapun uoµeu!wex9 to uoseaj Aq fI!l!ge!l aney pet's paansu! ail se buol os !!uo jo 'paansu! ay; wjol of 1!wgns of paj!nbaj aq Algeuoseei Am ;uew!e!o pajnsu! eqj 'uo!l!ppe ul jeseyojnd a Aq uaA!6 96e61jow Aauow aseyojnd a!q peinoas sseupalgepu!ue sploy abewep jo ssol to loojd yons buiumbei sjallew jo jal;ew ail of jo`puel ail u!;sajalu!jo alelsa ue su!elaj paansu!ay;se 6uol os!!uo paansu!ue 10 paebaa yl!m'uo!;e6!;!!/ue enu!luoo jo`alnoasojd'pualap of uo!le6!lgo jo Al!l!ge!l!ue j0Ae1 u!l0110d 10 ale(]10 se aojo;u!anuµuoo pegs Ao!!od s!il 10 96ej9n00 ail 6u!pn!ou!'ejeu!wj9;!legs (o!!od ay;japun paansu!a141 of suoµe6!!go s,(uedwo0 ail '31111 j0 30NVA3AN00 1i31�V 3ONV!lnSNl j0 NOI1tlnNI1N00 'Z 'abewep jo ssol to load paimbei ail ap!Aojd of luew!e!o paansui ail;o ajnpel ail Aq pao!pn!ajd s! (uedwoo ail 11 abewep jo ssol ail to lunowe ay;buµe!no!eo 10 s!seq 'allµa!gela�jew ail'elq!ssod lualxa ay1 of'ejels!legs pue abewep jo ssol 10 s!seq ay1 saln;!lsuo0 10 AiGA119p 9141 buiumbei uoµ!puoo!enloejluoo a 10 an;j!A (q ase14ojnd of uoµe6!lgo 14o!ym Ao!!od s!yl Aq ;su!ebu paansu! jallew jay;o jo 'all!i ay; uo aouejgwnoua ail wojl paseelaj aq of V alnpayoS u!paquosap;soja;u!jo alelsa ay;to jase14and JO ua!l j0 'u! loelep a14; aq!josep Ile14s abewep jo ssol ;o loojd 9141 abewep a all!lua pinom yo!yM 'a6ejano0 uj0j1 pa;deoxe jo papnloxe lou 'puel ail of all!1 JO sso; ay;01 9s!j 6u!A16 sloe;941 u!elj9ose l!eys luew!elo pajnsw a141 ja;;e step ail bu!loalle jallew luejedde jo pabal!e ue :,,911!1 ay;to fj!I!gelajjewun„ (6) 06 u!14l!m luedwoo ay;o;pays!ujnl aq l!egs;uew!ep paansu!ay;!q of ujoms pue p81e001 s!pue!9141 14o!im u!lo!a;s!p 9141 jol pau6!s abewep jo ssol 10 load e'/uedwo0 ail p9p!Aojd uaaq aney suo!lelnd!;S pue suo!;!puo0 asay;to g uo!loeS aapun paj!nbaj samlou ail jade pue of uo!l!ppe ul ljnoo lo!jls!p sa;els pauun-yl io NAa!o ail to spjooaj ail u! pa!!;sua!!uo!loalojd !e;u9ujuonnua apnlou! os!e peyS „spjooaj o!!gnd„ 'a6ejan00 woj:j suo!sn!ox3 ail '3DVWVO HO SSOI d0 d0OUd 'S 10(A!)(e);ugjoas of loadsaj yl!M-abpa!mou�;noyl!m pue anleA jot sjaseyojnd of R;jadojd JEW 01 6u1le!ej sj9;lew 10 90!;0u 9A!lonj;suoo bu!ljedw!10 asodjnd ay1 jot uo!lejadoo0 yons 6u!j!nbaj sea;lew jo Aoilod 10 ale(]le saln;els a;e;s japun pays!!gelsa spjooaj:,,spjooaj o!lgnd„ (1) aallew ail of pjebei 41!m'uo!le6!;!!Aue anu!luoo jo'a;noesad'pualap of uo!le6!!go jo R;!pge!l Aue bu!pn!ou!'a;eu!wjal!legs (o!lod ail japun pajnsu!ail of suo!1e6!!go luawnjlsu! s,(uedwo0 ail 'uo!lejad000 paj!nbaj ail is!ujnl of paansu! ay;10 ajnpel ay; (q Ajpnoas jaylo jo 'peep ;snj; ';snjl to peep `abe61jow :,,a6e61jow„ (a) peo!pnfajd s!/uedwo0 a14;11'pajnsu!se;sajalu!jo alelsa ail of aµ!1 ail ys!lgelsa (opod s!yl Aq pajnsu!s!puel ail wojl pue of ssaooe to ly6!j e yo!ym of of a!gej!sap jo Ajessaoau aq Aew Auedwo0 ail 10 uo!u!do ail u! yo!im;oe!nlmel lualxa ail 11w1I jo Appow pegs u!ajay bu!ylou;nq'sAumjalem jo sAem'saue!'sAal!e j914yo Aue u! 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(p) 96 a Mou aA!onj suo0 ou '96 a mou P I � l 3 3 P I l lenjou :,,umouj!„ jo „a6pa!Mou�„ (0) aapjo jo luaw6pn! •a6ewep jo ssol bu!w!elo pajnsu!ue:,,luew!elo pajnsu!„ (q) 9sj9Ape Aue woj; !eedde of 'uo!lajos!p alos sl! u! 'jg61j ail sanj9saj /!ssajdxa pue uo!lo!psunl lualadwoo;o ljnoo a (q uo!lewwjejap leuµof uoµe6!1!! (ue ansjnd 'sjossaoons!je!onp!1 jo alejodjoo jo'u!N;0 1x9U'saA!leluasajda!euosjad Aew Auedwo0 a141'Ao!lod sly;;0 suo!s!Aojd ail/q pall!wjad jo paj!nb9j se asualap 'sjoA!Ajns`s9o!Aap'saalnq!j;s!p'sj!ay'ol pallw!l lou;nq `6u!pnlou!aseyojnd wojl e pasodjalu! jo uo!1oe ue ;y6nojq aney pegs (uedwo0 ail janauayM (0) pais!n6uµs!p se me!10 uo!lejado (q pajnsu!paweu ail 10;sajalu!ail of pee0ons s!y110 uo!s!nojd oqm asoy; 'paansu! POweU ay; ;su!e6e pet' aney p!nom Auedwo0 ail sasualap 'ydej6ejed sly;japun sly6u s1!as!aaxa pet's�(uedwo0 914111 �o!lod �Iilod.!p os op l!eys jo sly6!j (ue of loafgns`pue'V alnpayoS u!paweu pajnsu!ail:,,pajnsu!„ (e) ' (ue 9A1eM jo /1!l!ge!! apaouoo Agajayl lou !!eys pue 'japunajay alge!! aq !!eys :ueaw (o!!od sly;u!pasn uaym suwal bu!mollol ail ;! lou jo jaylegm 'Ao!lod sly;to swjal ail japun uoµoe aleudojdde (ue axle; (ew 'SWH31 d0 NOWN11d30 'L SNouvindus dNV SNouiaN00 -jol!pajo ua!l jo luawa6pnf a jo on!eA jol jaseyojnd a of ao!1ou ljedwi of uo!;epjooaj yons to Q!) jo:jalsuejl to luawnjlsu!ail pjooei (law!;of (!) :9jnl!el ail wojl s;!nsaj jalsuejl!eµuejalajd a141 ajaym ldaoxe jalsuejl!eµuajalajd a pawaap bu!aq Ao!lod s!i; (q pajnsu!;sajalu!jo alelsa ail bu!leajo uoµoesuejl ail (q) jo`jalsuejl;ua!npnejl jo 9oue/9Auo0;ualnpnej;a pawaap bu!aq Ro!lod s!y;!q pajnsu!;sajalu!jo alelsa ail bu!lean uo!;oesuej;ay; (e) :uo paseq s!ley;'smel sly6u,sjo;!p9J0 jel!w!s j0'A0UaA!0su! a;e;s'Ao;dnjNueq!ejapal to uo!lejado ail to uoseaj (q 'Ro!!od s!yl Aq paansu!;sajalu!jo alelsa ail pajnsul ail u!6U115aA uoµoesuejl ail to;no saspe yo!ym'w!elo AuV b (aoej A0110d;o apis;uoj;woj;papniouoo pue penuiluoo) penuiluoO 30da3A00 WOa3 SNoisniOX3 Standard Coverage PACIFIC NORTHWEST TITLE INSURANCE COMPANY, INC. A.L.T.A. OWNER' S POLICY SCHEDULE A Order No. : 314570 Policy No. : 1093-33255 Policy Date : November 3 , 1997 Policy Amount : $50 , 000 . 00 at 12 : 30 p.m. 1 . Name of Insured: CITY OF RENTON, a municipal corporation 2 . The estate or interest in the land described herein and which is covered by this Policy is : FEE SIMPLE 3 . The estate or interest referred to herein is at date of Policy vested in: CITY OF RENTON, a municipal corporation 4 . The land referred to in this Policy is described as follows : Lot 6 , Block 2 , Motor Line Addition to Renton, according to the plat thereof recorded in Volume 9 of Plats, page 50, in King County, Washington. Standard Coverage PACIFIC NORTHWEST TITLE INSURANCE COMPANY, INC. A.L.T.A. OWNER' S POLICY SCHEDULE B Policy No. : 1093-33255 This policy does not insure against loss or damage by reason of the following: GENERAL EXCEPTIONS : 1 . Rights or claims of parties in possession not shown by the public records . 2 . Easements, or claims of easements, not shown by the public record. 3 . Encroachments, overlaps, boundary line disputes, or other matters which would be disclosed by an accurate survey or inspection of the premises . 4 . Any lien, or right to a lien, for services, labor or material heretofore or hereafter furnished, imposed by law and not shown by the public records, or liens under the Workmen ' s Compensation Act not shown by the public records . 5 . Any title or rights asserted by anyone including but not limited to persons corporations, governments or other entities, to tide lands, or lands comprising the shores or bottoms of navigable rivers, lakes, bays, ocean or sound, or lands beyond the line of the harbor lines as established or changed by the United States Government . 6 . (a) Unpatented mining claims; (b) reservations or exceptions in patents or in Acts authorizing the issuance thereof; (c) water rights , claims or title to water. 7 . Taxes or special assessments which are not shown as existing liens by the public records . 8 . Any service, installation, connection, maintenance, capacity, or construction charges for sewer, water, electricity or garbage removal . 9 . Indian tribal codes or regulations, Indian treaty or aboriginal rights, including, but not limited to, easements or equitable servitudes . SPECIAL EXCEPTIONS : As on Schedule B, attached. (continued) Policy No . : 1093-33255 A.L.T.A. OWNER'S POLICY SCHEDULE B Page 2 SPECIAL EXCEPTIONS : NONE END OF SCHEDULE B MS/cd/9728O /oo 30 30 /oo 44 131 8.14 — h .9 /0 J� h 2 3 tL tt /00 o Q BO 0 1z5 o 5� 8 5 0 44 N°r 4°h p N � a1 Z9/.7.9 .00% 3 7 s°0 .� /� o o N 26 I bw 00 U 4/30,17- > t 9° 1 o N z3r.ss m 6e° ,so 05 10 Y116 /4' '6 Q goo J G 44a' �t9 .41 d w tp• M tio, 2 pct° n /oo 0,1 .,�a3 12 4 • N �( y90059 t$h 9 a\Za 2 3 4.30 07 44 54.67 /a0 30 30 4 =yoao O ,10 737. O S. THIRD ST -- M ..... (3r o Ave.) Z qt BGQ ,31¢ 3c 4f 44 ¢0 40 #t¢ 'f 4 O 90 Q4 4,0 So G 4� (n v Seo 4 o 4 3L' 30CJ oppy O 160 04 °0 ON N 0 S o pa 1,,5° J 1,° b6°B °° 04 I bOP >.' DO 5t,r p1 a D�4D44 N ¢ ¢O 4O ¢ N Q 4 44 1 40 40 44 4 v O O AAb /Z /Z0N05 A9001 0 24 V A511 �3; 8 96° 0 se°° Co O0uJ to 9 O '6s°�° 22 w .s°°o 1505860 ,� Z > nl ° .r ' 9 ��1 t �,b.0,,o° W q d Q PACIFIC 1�IORTH��'F�T TITLE COItiIPANTY NORT Formerly Snnvart Title Company Order No. I-MPORTANT: This is not a Plat of Survey. It is furnished as a convenience to locate the land indicated hereon with reference to streets and other land. No liability is assumed by reason of reliance hereon. - SOUTH 0,01� - ------ CONDITIONS AND STIPULATIONS Continued (continued and concluded from reverse side of Policy Face) ,arneys' fees and expenses incurred by the insured claimant which were 12. PAYMENT OF LOSS. azed by the Company up to the time of payment and which the Company is (a)No payment shall be made without producing this policy for endorsement 4ated to pay;or of the payment unless the policy has been lost or destroyed,in which case proof of (ii) to pay or otherwise settle with the insured claimant the loss or damage loss or destruction shall be furnished to the satisfaction of the Company. provided for under this policy,together with any costs,attorneys'fees and expenses (b)When liability and the extent of loss or damage has been definitely fixed in incurred by the insured claimant which were authorized by the Company up to the accordance with these Conditions and Stipulations, the loss or damage shall be time of payment and which the Company is obligated to pay. payable within 30 days thereafter. Upon the exercise by the Company of either of the options provided for in paragraphs b(i)or(ii),the Company's obligations to the insured under this policy 13. SUBROGATION UPON PAYMENT OR SETTLEMENT. for the claimed loss or damage,other than the payments required to be made,shall (a) The Company's Right of Subrogation. terminate,including any liability or obligation to defend,prosecute or continue any Whenever the Company shall have settled and paid a claim under this policy, litigation. all right of subrogation shall vest in the Company unaffected by any act of the 7. DETERMINATION,EXTENT OF LIABILITY AND COINSURANCE. insured claimant. This policy is a contract of indemnity against actual monetary loss or damage The Company shall be subrogated to and be entitled to all rights and remedies sustained or incurred by the insured claimant who has suffered loss or damage by which the insured claimant would have had against any person or property in respect reason of matters insured against by this policy and only to the extent herein to the claim had this policy not been issued. If requested by the Company, the described. insured claimant shall transfer to the Company all rights and remedies against any person or property necessary in order to perfect this right of subrogation.The insured (a) The liability of the Company under this policy shall not exceed the least of: claimant shall permit the Company to sue,compromise or settle in the name of the (i) the Amount of Insurance stated in Schedule A;or, insured claimant and to use the name of the insured claimant in any transaction or (ii) the difference between the value of the insured estate or interest as litigation involving these rights or remedies. insured and the value of the insured estate or interest subject to the defect lien or If a payment on account of a claim does not fully cover the loss of the insured encumbrance insured against by this policy. claimant, the Company shall be subrogated to these rights and remedies of the (b) In the event the Amount of Insurance stated in Schedule A at the Date of proportion which the Company's payment bears to the whole amount of the loss. Policy is less than 80 percent of the value of the insured estate or interest or if If loss should result from any act of the insured claimant, as stated above, subsequent to the Date of Policy an improvement is erected on the land which that act shall not void this policy,but the Company,in that event,shall be required increases the value of the insured estate or interest by at least 20 percent over the to pay only that part of any losses insured against by this policy which shall exceed Amount of Insurance stated Schedule A,then this Policy is subject to the following: the amount,if any,lost to the Company by reason of the impairment by the insured () where no subsequentan has been made, as to improvement im claimant of the Company's right of subrogation. P y partial loss,the Company shall only pay the loss pro rata in the proportion that the amount (b) The Company's Rights Against Non-insured Obligors. of insurance at Date of Policy bears to the total value of the insured estate or interest The Company's right of subrogation against non-insured obligors shall exist at Date of Policy;or and shall include, without limitation, the rights of the insured to indemnities, (ii) where a subsequent improvement has been made, as to any partial guaranties, other policies of insurance or bonds, notwithstanding any terms or loss,the Company shall only pay the loss pro rata in the proportion that 120 percent conditions contained in those instruments which provide for subrogation rights by of the Amount of Insurance stated in Schedule A bears to the sum of the Amount of reason of this policy. Insurance stated in Schedule A and the amount expended for the improvement. The provisions of this paragraph shall not apply to costs,attorneys'fees and 14. ARBITRATION. expenses for which the Company is liable under this policy,and shall only apply to Unless prohibited by applicable law, either the Company or the insured may that portion of any loss which exceeds,in the aggregate,10 percent of the Amount demand arbitration pursuant to the Title Insurance Arbitration Rules of the American of Insurance stated in Schedule A. Arbitration Association.Arbitrable matters may include,but are not limited to,any c The Company will controversy or claim between the Company and the insured arising out of or relating ( ) p y pay only those costs, attorneys' fees and expenses to this policy, any service of the Company in connection with its issuance or the incurred in accordance with Section 4 of these Conditions and Stipulations. breach of a policy provision or other obligation. All arbitrable matters when the 8. APPORTIONMENT. Amount of Insurance is$1,000,000 or less shall be arbitrated at the option of either the Company or the insured.All arbitrable matters when the Amount of Insurance is If the land described in Schedule A consists of two or more parcels which are in excess of$1,000,000 shall be arbitrated only when agreed to by both the Company not used as a single site, and a loss is established affecting one or more of the and the insured.Arbitration pursuant to this policy and under the Rules in effect on parcels but not all,the loss shall be computed and settled on a pro rata basis as if the date the demand for arbitration is made or, at the option of the insured, the the amount of insurance under this policy was divided pro rata as to the value on Rules in effect at Date of Policy shall be binding upon the parties.The award may Date of Policy of each separate parcel to the whole,exclusive of any improvements include attorneys' fees only if the laws of the state in which the land is located made subsequent to Date of Policy, unless a liability or value has otherwise been permit a court to award attorneys' fees to a prevailing party. Judgment upon the agreed upon as to each parcel by the Company and the insured at the time of the award rendered by the Arbitrator(s)may be entered in any court having jurisdiction issuance of this policy and shown by an express statement or by an endorsement thereof. attached to this policy. The law of the situs of the land shall apply to an arbitration under the Title 9. LIMITATION OF LIABILITY. Insurance Arbitration Rules. (a) If the Company establishes the title,or removes the alleged defect,lien or A copy of the Rules may be obtained from the Company upon request. encumbrance, or cures the lack of a right of access to or from the land, or cures 15. LIABILITY LIMITED TO THIS POLICY:POLICY ENTIRE CONTRACT. the claim of unmarketability of title,all as insured,in a reasonably diligent manner by any method,including litigation and the completion of any appeals therefrom,it (a) This policy together with all endorsements, if any,attached hereto by the shall have fully performed its obligations with respect to that matter and shall not Company is the entire policy and contract between the insured and the Company. be liable for any loss or damage caused thereby. In interpreting any provision of this policy,this policy shall be construed as a whole. (b) In the event of any litigation, including litigation by the Company or with (b) Any claim of loss or damage, whether or not based on negligence, and the Company's consent, the Company shall have no liability for loss or damage which arises out of the status of the title to the estate or interest covered hereby or until there has been a final determination by a court of competent jurisdiction,and by any action asserting such claim,shall be restricted to this policy. disposition of all appeals therefrom,adverse to the title as insured. (c) No amendment of or endorsement to this policy can be made except by a (c) The Company shall not be liable for loss or damage to any insured for writing endorsed hereon or attached hereto signed by either the President,a Vice liability voluntarily assumed by the insured in settling any claim or suit without the President,the Secretary,an Assistant Secretary,or validating officer or authorized prior written consent of the Company. signatory of the Company. 10. REDUCTION OF INSURANCE:REDUCTION OR TERMINATION OF 16. SEVERABILITY. LIABILITY. In the event any provision of this policy is held invalid or unenforceable under All payments under this policy, except payments made for costs, attorneys' applicable law, the policy shall be deemed not to include that provision and all fees and expenses,shall reduce the amount of the insurance pro tanto. other provisions shall remain in full force and effect. 11. LIABILITY NONCUMULATIVE. 17. NOTICES,WHERE SENT. It is expressly understood that the amount of insurance under this policy shall All notices required to be given the Company and any statement in writing be reduced by any amount the Company may pay under any policy insuring a required to be furnished the Company shall include the number of this policy and mortgage to which exception is taken in Schedule B or to which the insured has shall be addressed to the Company at 1201 Third Avenue,Suite 3800,Seattle,WA agreed, assumed, or taken subject, or which is hereafter executed by an insured 98101. and which is a charge or lien on the estate or interest described or referred to in Schedule A,and the amount so paid shall be deemed a payment under this policy to the insured owner. ALTA OWNER'S POLICY—10-17-92 b � N � O w Cl) o w a O �f 1 0 C) • b n � n � c "m 0 m n � °w,r WASHINGTON APPRAISAL SERVICES, INC. 10222 N.E. 10th STREET- BELLEVUE,WA 98004-4289-(206)453-1456 ,.%gAugust 8, 1997 p �� D City of Renton AUG 1 $ RECD 200 MR Avenue South CIN OF RENTON Renton,WA 95055 PUBLIC WORKS CUSTOMER SERVICES Attn: Thomas G. Boyns Property Services Supervisor Re: Review of Adams, Picini&La Joy Properties Appraisal Renton/Metro Transit HUB"T" WAS 97-120 Dear Mr. Boyns: Per your request, I have reviewed the appraisal, by Valerie A. Foster, MAI&Kenneth A. Barnes, MAI, of the above described property. Extent of the Review Process Conducted: 1. The appraisal was reviewed in accordance with the Standards of Professio.,W Practice of the Appraisal Institute and the Uniform Standards of Professional Practice of the Appraisal Standards Board. 2. The parcels were personally inspected by the review appraiser. 3. The parcel reports were reviewed to determine the degree of adherence to the above standards as to format and content. 4. The parcel reports were reviewed as to the adequacy of the analysis, methodology and reasoning. All mathematical calculations were proofed. 5. All comparable sales data were inspected to enable the reviewer to determine the validity and accuracy of the analysis and adjustments by the appraiser. Identification of Property Appraised: The Subject properties are located at 215 - 233 Burnett Avenue South, Renton, King County, Washington. Real Property Interest Being Appraised: The property rights appraised are the fee simple interest. Effective Date of Appraisal: The appraisal's effective date of value is July 3, 1997. Date of Review: The subject properties and comparables were inspected by the review appraiser on August 5, 1997 which is the effective date of review. The report is a complete appraisal presented in a self contained report, in accordance with Standards Rule 2-2b. The data utilized were current in terms of time, and the appraiser's analysis were relevant and appropriate with the exception of the following. The land valuation is considered weak. Comparable# 1 is a listing. Comparables#2 and # 6 are sales to a condemning authority and were not exposed to the market. Comparable # 5 is an assemblage with prices ranging from approximately$8.00 per square foot to $23.00 per square foot. In the highest and best use analysis, the subject's improvements are thought to constitute an interim use until the market improves to support a higher and better use, at which time the Subject's four, adjoining tax lots would be assembled for development with a mutli-family project. During the interim period, the improvements are to be used for a residential or commercial use. The Subject is improved with an older, single-family residence suffering from significant deferred maintenance. In order to utilize the Subject's improvements as an interim use, the deferred maintenance must be cured. The cost to cure for a residential use is estimated by the appraisers at $16,000. This includes the cost of a new roof, paint, and repairing ceiling and walls from water w App.;..t s—.,I. w.As.917-120 -2- 4 damage. To utilize the improvements for a commercial interim use, it is estimated an additional $11,000 would be needed for remodeling costs. In view of the magnitude of the cost, a contractors estimate should have been obtained. As of the date of the appraisal,the interim improvements are valued at $60,000. Thus, it is assumed that a typical buyer, in addition to the cost of the land, would be willing to purchase the improvement's interim contribution to the land for$60,000,plus an additional cost of$16,000 to cure deferred maintenance for a residential use and a total of$27,000 for a commercial use. According to The Dictionary of Real Estate Appraisal, an interim use is defined as: "The temporary use to which a site or improved property is put until it is ready to be put to its highest and best use." Typically, an interim use such as the subject's would not exceed a period of 5-10 years, and in most cases, an interim period in excess five years is thought to be somewhat speculative. The length of the subject's interim period is not discussed in the report. Typically,the income generated from interim improvements is thought to have a higher degree of risk. An example of risk would be the difficulty of finding shorter term tenants, and the loss of rental income due to tenant relocation towards the end of the interim period. After considering this risk and the amount of rental income that could be generated over the interim period, discounted to present worth, it is thought unlikely that the subject building is capable of generating the income needed to support the report's interim value conclusion. If we assume a land value of$130,000, as in the report, the net operating income($12,112) does not even support the land investment ($130,000 x 10%= $13,000). After consideration of the above, it is the opinion of the review appraiser that a typical buyer would not be willing to purchase,repair and remodel the subject interim improvements, but rather, perceive any value attributed to this structure as being offset by the cost of demolition and removal at the time of redevelopment. In the Sales Comparison Approach to value, which held the most weight in valuing the subject's improvements, the appraisers used sales of properties with considerably longer economic lives and for the most part are not comparable. Since the subject building is an interim use, with limited economic life and utility,the Income Capitalization Approach utilizing overall rates is not appropriate as this form of capitalization is in perpetuity. With one exception, none of the rental comparables are comparable. w-vhirqa, sem..W. WA-9.97-120 -3- The zoning designations on land sale #1 and house sales #3 & #4 were reported incorrectly. According to City of Renton zoning maps, the above sales are all zoned CD. Also, the correct address of land sale #3 is 103 Logan Avenue South rather than 120. The report did not include photographs of land sales, which would be helpful to the land evaluation. In conclusion, it is my opinion that the appraisers should revise the report's final value conclusion to exclude any significant contribution attributed to the subject's interim improvements. If I can be of further service, please do not hesitate to call on me. Sincerely, Garrett W aldner,MAI Wadmigton ApmW Savmxk�. WAS.97-120 *„r,` CERTMCATE OF REVIEW I, Garrett W. Waldner,MAI, SRA, certify that,to the best of my knowledge and belief. the facts and data reported by the review appraiser and used in this report are true and correct. the reported analyses, opinions,and conclusions in this review report are limited only by the assumptions and limiting conditions stated in this review report, and are my personal, unbiased professional analysis, opinions, and conclusions. I have no present or prospective interest in the property that is the subject of this report, and I have no personal interest or bias with respect to the parties involved. - my compensation is not contingent on an action or event resulting from the analyses, opinions, or conclusions in, or the use of, this review report. - my analysis, opinion, and conclusions were developed, and this report has been prepared, in conformity with the Uniform Standards of Professional Appraisal Practice(USPAP) as adopted by the Appraisal Standards Board of the Appraisal Foundation, and with the requirements of the Code of Professional Ethics and the Standards of Professional Practice of the Appraisal Institute. - I did personally inspect the subject property of the report under review. - No one provided significant professional assistance in developing the analysis or conclusions in this report. - I have the required knowledge and experience necessary to complete this review competently. - the use of this report is subject to the requirements of the Appraisal Institute relating to review by its duly authorized representatives. - as of the date of this report, I have completed the requirements of the continuing education program of the Appraisal Institute. Garrett W. Wal er, MAI, SRA ertneral Appraiser WA-LD-NG-W600QW a' on App-"Savior.Inc. wa.s.97-120 -5- Cushman&Wakefield of Washington, Inc. CUSHMAN 700 Fifth Avenue, Suite 2700 WMER `D® Seattle,WA 98104-5027 Tel: (206) 521-0243 Improving your place Fax: (206) 521-0299 in the world. August 27, 1997 Mr. Garrett W. Waldner, MAI Washington Appraisal Services, Inc. 10222 NE 10th Street Bellevue, WA 98004-4289 RE: Response to Review of Adams, Picini & La Joy Properties 215-233 Burnett Avenue South Renton, Washington Dear Mr. Waldner: This letter is in response to your review of our appraisal of the above referenced properties. The concerns you hi-lighted are addressed below: Land Valuation • You mention that the land valuation is considered weak, and indicated that there were sales of comparably zoned parcels in the immediate area that we did not include. As requested, we performed a second search of the market for recent sales, and found no additional land transfers we considered comparable in location or zoning, or sufficiently recent in date of sale. • A concern was raised that Land Sale No. 1 is a listing. We consider the inclusion of listings vital to the valuation process. This listing was particularly useful as we were provided with a listing price and a recent offer for the property. The listing was above what a reasonable buyer would pay (i.e. - above market value), and the offer was below what a reasonable seller would accept (i.e. - below market value). The listing and the offer set an important range for the valuation of the subject parcels. • You express a concern that we used two sales (No.'s 2 and 6) to a condemning authority. The subject parcels are within a fairly small micro market within the City of Renton, bounded to the north by South Second Street, and to the south by South Third Street. Parcels on the fringe of this area will be less valuable than the subject parcels due to lesser traffic counts, exposure, etc. and parcels on major rights of way like Rainier Avenue and Grady Way will be more valuable due to higher traffic counts, exposure, etc. In our land value conclusion, we primarily emphasized the adjusted sales that were either in fringe locations or fronting major arterials. However, we felt it was important to note these two purchases by the City of Renton due to their locational comparability, and to also show activity in the subject's micro market. Although they are not representative of typical market activity, we did feel it important too discuss the purchases so the reader could understand the entire scope of local market activity. Mr. Garrett W. Waldner, MAI Washington Appraisal Services, Inc. August 27, 1997 Page 2 • In analyzing Land Sale No. 5 we averaged the acquisition price of the assemblage, a methodology you questioned. We analyzed the acquisition as we believe a typical purchaser would, focusing on the total outlay for a given site. This methodology is consistent with market practices. The fact this assemblage was acquired for a business is not any special motivation, as all commercial land is acquired for this use. Individual parcel acquisition premiums may apply to achieve an assemblage, but the average parcel price should not be too far out of line or the buyer will fall back to the principal of substitution and go elsewhere. Contractors Estimate • The review states that "in view of the magnitude of the cost [to cure deferred maintenance, which is estimated at $11,000], a contractors estimate should have been obtained." Deferred maintenance represents less than 6 percent of the final value for this property, a percentage not considered sufficient to warrant obtaining a cost estimate. Length of Subject's Interim Improvements • The review states that the length of the interim use for the improvements is not discussed in the report. We note that it is not possible to know the length of the interim use with certainty, but estimate it to fall between 5 and 20 years. The review indicates that "an interim use such as the subject's would not exceed a period of 5-10 years." The north lot and home of the La Joy property is valued at $125,000, including $65,000 to the lot and $60,000 to the improvements. Without the improvements the property would be generating no income, and in fact would be in a negative cash flow position due to the required payment of real estate taxes. One way of determining the implied interim life is to discount the difference in income-generating capacity due to the presence of the improvements to find out how many years of cash flow are required to arrive at a discounted value of $60,000. We take net operating income at $12,112, inflate this at 3.5 percent annually, and discount the income stream at 10 percent. A remaining life of between 6 and 7 years is indicated. Even un-inflated with deferred maintenance the estimated life to amortize the improvements is 8 to 9 years. Net Operating Income Supporting Investment in Land • The review expresses the concern that "it is thought unlikely that the subject building is capable of generating the income needed to support the report's interim value conclusion. If we assume a land value of$130,000, as in the report, the net operating income ($12,112) does not even support the land investment ($130,000 X 10% = $13,000)." There are two responses to this comment. First, we have valued the La Joy property in two parts. These include the home and underlying lot, and the adjacent parcel of excess land. Net operating income of$12,112 certainly supports the land investment for the lot underlying the home ($12,112/$65,000 = 18.63%), and provides an adequate return on the land and building ($12,112/$125,000 = 9.69%). A 9.69 percent return on land value provided by interim improvements is considered well within the range acceptable for a typical land play. The wVKES ELD_o VALUATION ADVISORY SERVICES Mr. Garrett W. Waldner, MAI Washington Appraisal Services, Inc. August 27, 1997 Page 3 fact that adjoining lot is under the same ownership should not impact the valuation of the improved property. Value to the Improvements • The review states that "after consideration of the above, it is the opinion of the review appraiser that a typical buyer would,not be willing to purchase, repair and remodel the subject interim improvements, but rather, perceive any value attributed to this structure as being offset by the cost of demolition and removal at the time of redevelopment." We note that that the market does not appear to support immediate redevelopment of the subject sites, and that the point at which redevelopment will be feasible is not known. Given this, a typical buyer would place significantly greater value on a property where the improvements could support the cost of carrying the land as compared to a vacant site that would require annual cash outlays for real estate taxes. As a result, we consider the improvements to continue to contribute to the value of the underlying land and to warrant an investment by a typical purchaser for the correction of deferred maintenance. • As importantly, market value encompasses "the price a reasonable seller would accept", as well as "the price a reasonable buyer would pay." A seller of a home used as a principle residence for a portion of the year would only sell for an amount that would allow for the purchase of an alternate housing source. At a land value of$65,000 for the north lot, less demolition of$10,000, the reviewer indicates the seller should be willing to accept $55,000 for his home. We believe this is well below the price at which a substitute property could be acquired, as is evidenced by the home sale comparisons presented in the report. The concluded market value, at $125,000 for the home and underlying north lot, would allow the buyer to purchase a modest home in a fringe Renton CBD location. The fact this owner also holds title to some excess land adjacent does not devalue this improvement. We appreciate the opportunity to respond to this review, and look forward to working with you in the future. Please feel free to call with any questions of concerns. Respectfully submitted, CUSHMAN &WAKEFIELD OF WASHINGTON, INC. Valerie A. Foster, MAI Kenneth A. Barnes, MAI Senior Appraiser Director, Manager Valuation Advisory Services Valuation Advisory Services WA State Cert. #FOSTEVA310BD WA State Cert. #BARNEKA40203 cc: Tom Boyns, City of Renton WELD© VALUATION ADVISORY SERVICES WASHINGTON APPRAISAL SERVICES, INC. 10222 N.E.10th STREET-BELLEVUE,WA 98004-4289-(206)453-1456 September 2, 1997 Cushman&Wakefield Washington,Inc. 700 5th Avenue, Suite 2700 Seattle,WA 98104 Attn.: Valerie A Foster,MAI RE: Review of LaJoy Property Renton,WA W.A.S. 97-120 Dear Ms. Foster: I appreciate your prompt and detailed response to my review of your appraisal. With a few exceptions,I am satisfied with your response. The first item,I again question is the contractor estimate. On pages 34,36 and 39,you indicate deferred maintenance at$16,000 and fiuxtional obsolescence at$11,000 for a total of$27,000. This is 45%of the estimated building value,which in my mind is significant. The second item that concerns me, is the method of capitalization on an interim use property, which we seem to agree on as to term. The use of an overall rate is not appropriate since as I indicated it capitalizes the income into perpetuity. I think more appropriate method would be the building residual technique,which is outlined below.. Net Operating Income $12,112 Less Income to Land($65,000 x 10%) -6,500 Residual to Improvement $5,612 Capitalized @ 24% $23,383 (10%Return on+ 14%Return of) Less Deferred Maintenance -16,000 Functional Obsolescence -11,000 Indicated Building Value <$3,617> Ma Valerie A.Foater,MAI Cudm=&Wakefield Washington,Inc. September 2,1997 Page 2 In this analysis, I have assumed a seven year remaining life, which seem to be about the mid point of our opinions and as you can we,it results in a negative building value. We have to get out to at least ten year life before the building would indicate a minimal positive value. The definition of market value not only includes the term "reasonable" but also "knowledgeable". The cost of obtaining replacanent housing is not an element in the definition of market value. One can not caped to obtain full commercial value for the land plus the value of the house as a domicile. If the city desires to make an administrative settlement or offer relocation benefits,that is beyond perview of estimating market value. Just a minor point of clarification, I did not in my review indicate that the seller would be willing to except $65,000 less cost to demolition for his property but rather that a typical purchaser would offset any contribution by the improvements by the cost of demolition. Sincerely, Zfett W.Waldner, cc: Tom Boyns, City of Renton Offer To Purchase The City of Renton,a municipal corporation,hereinafter Buyer,agrees to buy the property legally described as: Lot 7, Block 2,Motor Line Addition to Renton according to the plat recorded in Volume 9 of Plats, page 50, records of king County,Washington. Purchase Price: The purchase price shall be Fifty Thousand and NO/100 Dollars($50,000.00) Payable in US currency upon closing. Closing Date/Agent: Closing shall be as soon as possible,not later than October 31, 1997.d,grs-after acceptance of this offer. Possession: Buyer shall be entitled to possession of the property upon closing. Agency: At the signing of this agreement, neither party is represented by an agent. Condition of Title: Title to the property shall be marketable at closing. Seller authorizes the escrow agent to apply for a standard form buyer's policy of title insurance, at Buyer's expense. Title shall be conveyed by Statutory Warranty Deed. Closing Costs and Prorations: Buyer shall pay all costs incurred in this transaction. Taxes for the current year shall be prorated as of the date of closing. Performance: Time is of the essence of this agreement. Agreement: On this 17th day of October, 1997,Buyer agrees to purchase this property on the above terms and conditions. City of Renton,200 Mil ue S,Renton WA 98055 BY: Thomas G.Bo , Property Services Supervisor Acceptance: On this .17th day of October, 1997, Seller agrees to sell the property on the above terms and conditions,and acknowledges receipt of a copy of this agreement: Elizabfth Picini ;y 14WPe CITY OF RENTON Planning/Building/Public Works Department Jesse Tanner,Mayor Gregg Zimmerman P.E.,Administrator October 13, 1997 Janet Duke Elizabeth Picini N� 1813 NW 77th Street Seattle WA 98177 SUBJECT: ACQUISITION OF STREET RIGHT-OF-WAY TRANSIT HUB PROJECT TAX PARCEL#569600-0080 Dear Janet Duke and Elizabeth Picini: The City of Renton needs to purchase your property for the Transit Hub Project improvements. The value of your property needed by the City for this project has been determined by a professional appraisal made by a qualified appraiser and is based upon the fair market value of your property. The appraised value has been reviewed by a review appraiser to establish the Just Compensation which has been allocated as follows: Total Just Compensation $50,000.00. Our offer is the fair market value as determined through the appraisal process. Payment for your property and/or property rights will be made available to you by certified mail within approximately 45 days after you accept the City's offer, provided that there are no delays in closing the transaction. The date upon which the payment is made available to you is called the "Payment Date" and is the date upon which the City becomes the owner of the purchased property and/or property rights. A copy of our Right-of-Way plan showing the property affected by the project, and a summary of the appraisal conclusions accompany this offer. A draft deed showing the legal description of the appraised area of interest is also included for your review. Please feel free to call me with any question at(206)277-6209. Sincerely, o oyns Property Services Supervisor Enclosures: Right-of-Way plan summary of appraisal conclusions draft deed 200 Mill Avenue South- Renton, Washington 98055 ®This paper contains 50%recycled material,20%post consumer PACIFIC NORTHWEST Ti �n Company of Washington, Inc. 021 7 WARREN, KELLOGG BARBER DEAN & FONTES, P S. Warren, Kellogg, Barber, Dean & Fontes, P. S . P.O. Box 626 Renton, Washington 98057-0626 Order No. : 314571 Your Ref . : CITY OF RENTON Enclosed is your Policy for Title Insurance on the above-referenced transaction. Thank you for the opportunity of serving you. We look forward to working with you again. Mike Sharkey Senior Title Officer Unit 12 1201 Third Avenue r Suite 3800 & Seattle, WA 98101-3055 i (206) 622-1040 'a Fax: (206) 343-1358 http://pnwt.com ` POLICY OF TITLE INSURANCE ISSUED BY I F7 SUBJECT TO THE EXCLUSIONS FROM COVERAGE, THE EXCEPTIONS FROM COVERAGE CONTAINED IN SCHEDULE B AND THE CONDITIONS AND STIPULATIONS, PACIFIC NORTHWEST TITLE INSURANCE COMPANY, INC., a Washington corporation, herein called the Company, insures, as of Date of Policy shown in Schedule A, against loss or damage, not exceeding the Amount of Insurance stated in Schedule A, sustained or incurred by the insured by reason of: 1. Title to the estate or interest described in Schedule A being vested other than as stated therein; 2. Any defect in or lien or encumbrance on the title; 3. Unmarketability of the title; 4. Lack of a right of access to and from the land. The Company will also pay the costs, attorneys' fees and expenses incurred in defense of the title, as insured, but only to the extent provided in the Conditions and Stipulations. IN WITNESS WHEREOF, Pacific Northwest Title Insurance Company, Inc. has caused this policy to be signed and sealed by its duly authorized officers as of the Date of Policy shown in Schedule A. President PACIFIC NORTHWEST TITLE Countersigned by: Insurance Company,Inc. ZEE INS Authorized Signatory = `GNPORATp`= PACIFIC NORTHWEST TITt 3 SECompany Seattle, Washington vyt'% 1926 �4SNINGIG� City,State EXCLUSIONS FROM COVERAGE The following matters are expressly excluded from the coverage of this policy and the Company will not pay loss or damage,costs, attorneys'fees or expenses which arise by reason of: 1. (a) Any law, ordinance or governmental regulation (including but not limited to building and zoning laws, ordinances, or regulations) restricting, regulating, prohibiting or relating to (i)the occupancy, use, or enjoyment of the land; (ii) the character, dimensions or location of any improvement now or hereafter erected on the land;(iii)a separation in ownership or a change in the dimensions or area of the land or any parcel of which the land is or was a part;or(iv)environmental protection,or the effect of any violation of these laws,ordinances or governmental regulations,except to the extent that a notice of the enforcement thereof or a notice of a defect, lien or encumbrance resulting from a violation or alleged violation affecting the land has been recorded in the public records at Date of Policy. (b) Any governmental police power not excluded by(a)above,except to the extent that a notice of the exercise thereof or a notice of a defect, lien or encumbrance resulting from a violation or alleged violation affecting the land has been recorded in the public records at Date of Policy. 2. Rights of eminent domain unless notice of the exercise thereof has been recorded in the public records at Date of Policy,but not excluding from coverage any taking which has occurred prior to Date of Policy which would be binding on the rights of a purchaser for value without knowledge. 3. Defects,liens,encumbrances,adverse claims or other matters: (a) created,suffered,assumed or agreed to by the insured claimant; (b) not known to the Company, not recorded in the public records at Date of Policy, but known to the insured claimant and not disclosed in writing to the Company by the insured claimant prior to the date the insured claimant became an insured under this policy; (c) resulting in no loss or damage to the insured claimant; (d) attaching or created subsequent to Date of Policy;or (e) resulting in loss or damage which would not have been sustained if the insured claimant had paid value for the estate or interest insured by this policy. 0.1093- 33256 ALTA OWNER'S POLICY—10-17-92 (Roilod sig;}o e6ed}sej uo pepnjouoo pue penuiluoo) 'sysoo!ue Lil!m Jayla6ol'Ao!Iod s!yl Japun ysumbe painsu!w!elo Aue luew!elo painsu! Auedwoo ayl'paJnsu!se'1saialu!Jo alelsa a14y of aµ!1 aLil 4s!Igelse of algensep Jo ue yo aweu ayl u!Jo Joy sapied Ja14yo yl!m allies aslmiaglo Jo!ed of (!) J(Jessaoau eq Aew uo!u!do sl!u!go!gm lop Jaylo Aue op o;Jo bu!paeooid Jo uo!loe Aue -luew!elo pamsul 941 a;noesoid pue a;njgSU!of'1SOa UMo sl!le'146!1 agl aney!Ieys/uedwo0 ayl (q) 41!M Jo peinsul 841 ue4l J0410 Sa!;Jed 41!M 011185 8s!mJ0430 JO Aed 01 (q) -Ao!lod -uoµellaoueo Jo;Auedwoo ay;of paiapuaiins eq lleqs (o!Iod a14;pue'uo!le6!l!I Aue s!yl Aq lsu!ebe painsu!lou sJallew aballe yo!ym uo!loe;o sasneo asoyl to asualap anu!luoo Jo 'alno9soid 'pualap of uo!le6!lgo Jo Al!l!ge!l Aue bu!pnlou! 'a;eu!uiial agl u! painsu!ey1 Aq paJJnou!sasuadxa Jo sysoo `seal Aue (ed lou II!m Auedwoo Ileys 'paJ!nbaJ luawAed aql 9�ew of ueyl Jaylo '(o!lod s!yl Japun painsu! aLil of ayl'lasunoo Jaglo/ue;o seal ag;Red lou II!m pue Jo;alge!l aq lou(legs pue uo!loe suo!le6!Igo pue ,4!I!ge!!Ile'uo!ldo s!yl;o Auedwoo 9yl Aq as!oiaxe ay;uodn ;o sasnpo palels asoyl of se painsu!ay;;ussaidai of(asneo algeuoseeJ Joy loa!go 'led of pale6!Igo s! wedwoo aq1 yo!ym pue of painsu!ayl to 1146!1 aql of loafgns)ao!oyo sl!;o lesunoo;oalas of 146!1 aql aney luaw(ed yo Japual Jo luawRed;o ow!l ayl of do'fuedwoo aql Aq paz!Joylne aiam lleqs Auedwoo ayl -Ao!lod sly;Aq ;su!ebe painsu! Jallew Jaylo Jo eoueigwnoue go!ym`luew!elo paJnsu!eqj Aq paJJnou!sasuadxe pue sea;,sAauioile';soo Aue Lil!m Jo ua!I 'loayap a bu!6alle UOpoe ;o sasneo palels asoyl of se Aluo ;nq 'painsu! se lsaJalu!Jo 011!1 aql o;asJanpe w!elo a spasse (lied pn14y Aue go!ym u!uo!jul5q!I Jayla6ol (apod s!yl Japun aaueinsu!yolunowe 8141 yo luaw(ed Japual Jo (ed of u! paJnsu! ue yo 9su019p ayl Jo; ap!noid Keys 'Aulap algeuoseaiun ynoyl!m pue •93ueJnsul;o4unowy 841;o 1uawABd Japual Jo Red of (p) ;soo umo sl! le 'fuedwoo ay; 'suopelnd!lS pue suo!l!puoo aseyl 10 g uo!138S u! :suo!ydo leuo!l!ppe pou!eluoo suo!ydo ayl of loafgns pue painsu!aql (q lsenbei uall!Jm uodn (e) 6u1mopo; ayl aney Ileys Auedwoo ayl `(o!lod slyl Japun w!elo a ;o aseo ul '31VH3d000 01 INVWIVIO 'Allll9Vll 031inSNl j0 Alna:SN0110V j0 N0Iln03S0Hd CNV 3SN3j3C '4 j0 NOIIVNIWU31:SWIVIO 31113S 3SIMH31-110 HO AVd 01 SN0IId0 '9 'aa!pnfaid 8141 yo;ua;xa ay;of i(luo uayl pue 'LUTIO leyl o; aJn!!e;aql!q peo!pnfaid aq Reqs Auedwoo ay;ssalun fo!lod s!yl Japun painsu!Aue se Ao!lod s!Li;Japun Auedwoo ay1 to/1!l!ge!I Aue aleu!wJal lleqs gdeJ6eied s!yl u! ;o slLi6!J agl ao!pnfaid aseo ou ui pegs Auedwoo ay;A;!lou of aJnl!e;;egl'Jana Mog paJ!nb9J se segued png;woJy uo!lewJo;u!J(Jessaoau AIgeuoseei ainoas of uo!ss!wi9d 'pap!noid 'paJ!nbaJ si ao!lou ldwoJd yo!14m Jo; sJallew Jo Jallew ay1 01 pJebaJ lueJ6 Jo uo!lewJo;u!palsanbaJ AIgeuoseei Jaylo eonpoid`Lileo Japun uo!leu!wexe Joy q1!m a;eu!uiial Ileys Auedwoo a4l;o (y!I!ge!I Ile painsu! ayl of se uayl 'fuedwoo y!wgns of luew!elo paJnsu!ayl;o aJnl!ej-w!elo agl;o uo!leJ;s!u!wpe ay;u!/Jessaoau ayl of U9A!b aq lou lleqs eoµou ldwoid;I '91gela)IJewun se paloalaJ s! 'painsu!se s! ;! 'Auedwoo 9yl yo luaw6pnf algeuoseaJ ay; u! 'ssalun siaylo of pasolos!p aq lsaJalu!Jo alelsa ayl of all!;;!(!!!)Jo'Ao!lod s!yl;o anyJ!n (q alge!l Aew Auedwoo IOU lleqs uo!loaS s!gl of luensind (uedwo0 814;of pepnoJd luew!elo painsu!agl fq ay;go!ym Jo;a6ewep Jo ssol asneo ly6!w yo!gm pue'painsu!se`lsaJalu!Jo alelsa Ie!luap!;uoo se paleu6!sap uo!lewiolu!IIV'abewep Jo ssol aLil of u!e1Jad Rlgeuosew 9q;0181111 ay;of asJanpe s!Lio!14m lsaJalu!Jo all!l;o w!elo Aue yo Japunaiay paJnsu! Lio!gm `/lied pJ!yl a;o Ioiluoo Jo (polsna ay;u!epueiowaw pue aouapuodsaJJoo up of awoo lleqs ebpalmouN aseo u!(!!)'molaq(e)t7 uopoeS u!LiIJo;las se uOle6!1!I `sNoa14o `siabpal 'sMooq `spiooei Ile Adoo pue loadsu! 'au!wexa of luedwoc) ay1 Aue ;o aseo u! (!) 6u!1!Jm u! (lydwoid fuedwoo a14; Aplou Reqs painsu! agl 10 9n!;e;uesaideJ pez!Jo14yne Aue Jo;'6u!1!Jm u! `uo!ss!wiad sl!Imb hays luew!elo '1NVWIVI3 C3HnSNl A9 N3AHD 39 Ol WIV10 j0 301ION T painsu!ay;`Auedwoo agl;o an!1eluasaidaJ pazuoylne Aue Aq palsanbaJ;!'Jaglind 'a6ewep Jo ssol ag;of u!eliad ligeuoseaJ Lio!gm'Ao!Iod;o ale(]Jal;e Jo aioleq alep a paJnsu!a14y of u9n!b 96e61Jow Aauow asegoind a fq painoas buueaq Jag1914m'epueJowaw pue aouapuodsaJJoo's>lo9go'sJa6pal'silooq'spJooaJ ssaupalgapu!up(!!)Jo'puel ay;u!lsaJalu!Jo alelsa pue(!)Ja141!9 yo painsu!ayl woJ; Ile'Auedwoo a141 yo anµeluasaideJ p9z!Joglne Aue/q paleu6!sep aq Aew se saaeld Jaseyoind Aue 10 Jone;u!9aJo;u!anu!luoo lou Reqs Ao!lod s!yl'lsaJalu!Jo alelsa pue saw!l algeuoseaJ Lions le `6u! cloo pue uo!loadsu! 'uo!leu!wLxa Jol aonpoJd 9yl;o a0uei(9nuo3;o JaysueJ;Aue un painsu! ayl/q apew A1ueJJeM;o slueu9no3 (legs pue Auedwoo aql to anile;uasaJdaJ pazuoylne fue (q yleo Japun uo!leu!wexa ;o uoseaJ Aq (l!l!ge!I aney Reqs paJnsu! aq;se buol os Aluo Jo 'painsu! a141 wiol o; ;!wgns of pannbaJ aq AlgeuoseaJ Aew luew!elo painsu! aLil 'uo!l!ppe ul JaseyoJnd a fq Uan!b a6e6yiow (auow aseyoind a (q paJnoas ssaupalgapu!up sploLi 'abewep Jo ssol;o;ooid Lions buiumbei sJallew Jo Jallew agl of Jo puel aql u!lsaJalu!Jo alelsa up su!e;9J paJnsu!a141 se 6uol os Rluo painsu!ue;o pJe6aJ yl!M'uo!le6!l!I Aue anupuoo Jo'alnoasoid'pu9;ap of uo!1e6!lgo Jo l!l!ge!l Aue Jone;u!l0110d;o a;ep;o se aoiol u!anu!luoo I1e14s i(o!lod s!y1;o 96ei9nO3 9ql bu!pnlou!`aleu!wial Reqs fo!lod ay;Japun paJnsui ayl of suo!le6!lgo s,/wedwoo a14; '31111 j0 3ONVA3ANOO H31jV 30NVHnSNI JO NOIIVnNI1N00 7 'abewep Jo ssol;o;ooJd paJ!nbaJ ay;ap!noid o;luew!elo painsu!ay;;o aJnl!e;ayl Aq peo!pnfaid s!Auedwoo ayy;I'abewep Jo ssol aql;o lunowe ay1 bu!lelnoleo yo s!seq 'all!;algela>IJew ayl`alq!ssod lua;xa ayl of alels lleqs pue abewep Jo ssol;o s!seq aql sa1n;!ysuoo ;o fJanllep ay;buumbei uo!l!puoo lenloeiluoo e yo an1J!n Aq aseyoJnd of uo!;e6!lgo yo!ym /o!Iod s!yl (q ;su!e6e painsu! Jallew Jay;o Jo `911!1 ayl uo aoueJgwnoua eyl woJ;pasealaJ aq o;V alnpagoS u!paciposep;saielu!Jo alelsa ay;;o JaseyoJnd Jo ue!I Jo 'u! loalap ay; agliosap Ile14s abewep Jo ssol yo ;ooJd aql 'a6ewep a all!;ua p!nom ya!gM '86eJano0 woJ; paldaoxe Jo papnloxe lou 'puel ay;of all!1 Jo ssoi ay;of esu 6u!n16 sloe;ay;u!e;J90se Ile14s luew!elo paJnsu!a141 Ja;;e s/ep ay;bu!loa;;e Jallew luaJedde Jo pa6alle up : all!;aql to (l!1!gelaNJewun„ (6) 06 u!yl!m Auedwoo ay;of pags!uin;aq Reqs;uew!elo paJnsu!ay;Aq of woms pue pe;eool s!puel ayl 4o!LiM u!louls!p ay;Jo; pau6!s abewep Jo ssol;o;ooJd e'fuedwoo ay1 pap!noid ueaq aney suo!lelndl;S pue suo!l!puoo asay;;o 6 uo!loaS Japun paJ!nbaJ sao!lou ay;Ja;;e pue of uo!;!ppe uI lJUOa la!J1s!p sapnI pa1sle!un pegs >palo aql to d,, '95 914;u!pal!;s uo nl3x3;oid IeluawuaJ!nua apnpul oslp lleqs „spioaaJ apgnd„ `a6eiano� woJ� suolsnpx3 8141 '39VWVC HO SSOI j0 jOOHd 'S yo(n!)(e)L uo!loaS of;oedsaJ gl!M'e6palmou> ;noyl!m pue anlen Jo;sJ9seyoind of (liadoid IeaJ of 6u!;elaJ sJallew;o 9a!lou anponJlsuoo 6uµJedw!;o asodind 9141 Jol -uo!;eiad000 Lions 6u!J!nbai siallpw Jo Aoilod;o ale(]le saln;els alels Japun pays!Igelse spJoaaJ:,,spJooaJ o!lgnd„ (1) Jallew ayl of pJebaJ Lil!m'uo!;e6!1!I (ue anu!luoo Jo'alnoesoid'pua;ap of uo!le6!lgo Jo (;!I!ge!l Aue bu!pnlou!'aleu!wial Ileys!a!lod aql Japun painsu!agl of suo!le6!Igo 'luawnilsu! s,Auedwoo aLil 'uo!leiad000 pej!nbaJ ay; gs!wn; of paJnsu! agl ;o ainl!e;ay; Aq Al!Jnoas Jaylo Jo 'peep ;sni; ';snil ;o peep '96p6;Jow :,,a6e631ow„ (a) pao!pnfaid s!Auedwoo ay;;I'painsu!se lsaJalu!Jo alelsa 9141 0;alIp ayl Lis!Igelsa lopod s!Li1 Aq paJnsu!s!puel 9141 woJl pue of ssaooe yo ly61j e 140!ym of o;algeJ!sep Jo CJessaoau aq Aew fuedwoo agl;o uo!u!do ayl u! go!gm lap In;mel lua;xa ay;IWI Jo Appow Ileys u!aiay 6u!g1ou;nq `sAemialem Jo slum'sauel'sAalle Jaylo Rue w (!) pup juawallies bu!loalle Jo `bu!paeowd Jo uopae ay; bu!pualap 'senuane`speoi'slawls bu!lynge u!luawasea Jo a;else'lsaia;u!'al1!1`346!1 Aue Jou'V Jo 6upnoesoid 'sessaul!m bu!u!elgo'aau9p!na 6uunoas'6u!paaooid Jo uo!loe Aue alnpagos u!of peJJalej Jo paquosep ease ay;;o sau!l ag;puoAeq Aliadoid Ime apnlou! U!O p!e elceuosm Ile (uedwoC)9141 an!6 lleqs`esuedxa s,(updwoC)ay;le'painsu! lou scop ,puel,, wia; a14l ' 1jadoid leaf a;nl!ysuoo mel Aq yo!14m olaiagl pax!lle ayl`1,uedwoC)ay;Aq palsanbaJ JanauagM'asodind s!yl Jo;painsu!ay;;o aweu aql s;uaui9noidw!pue`V alnpagoS ui o;paiia;aJ Jo paquasap puel ay;:,,puel„ (p) `uo!ydo sl!le`asn of/,uedwoo ayl l!wiad pue Vaiay;sleadde Ile pup'bu!paeowd 'puel aql bu!loa;le Jo uo!10e aql u! asu919p ep!noid Jo alnoasoid os of lg6!J ayl Auedwoo ayl sJa;yew;o 90!lou an!lonilsuoo liedw!yo!ym spJoaaJ Jay;o Aue Jo Ao!Iod s!Lil u!pan49p of ainoes pe14s painsu!ay;'bu!pe9ooid Jo uopoe fue;o asualap ay;Jo;ap!noid Jo se spJoaaJ o!lgnd aLil to uoseaJ Aq'painsu! up of pa;nduii aq few Lia!14M a0!;ou Jo alnoesoid of Auedwoo agl seimbai Jo sl!wJad fo!Iod s!yl aiagm seseo Ile ul (p) 96p9IMouil an!;ani;suoa lou `abpalmouN len;oe :,,umouJ{„ Jo ,aF)palmouN,, (0) J9pio Jo luaw6pnf abewep Jo ssol 6u!w!elo painsu!up:,,luew!elo painsu!,, (g) asJanpe Aue woJl leadde of 'uo!laJos!p alos s;! u! `ly61J 8143 saniasaJ flssaidxa pue uo!lo!psunf;ualedwoo yo linoo e Aq uo!leu!wJalap leu!;o;uo!le6!1!l Aue ansind siossaaans (Je!anpp Jo a;eiodioa Jo'u!>I yo yxau `sen!;e;uasaJdaJ leuosiad ALw Auedwoo agl`Aollod s!yl;o suo!s!noid a14;Aq pell!wiad Jo paJ!nbaJ se asualap 'SJOA!AJnS'saa!nap'saalnq!Jys!p'sJ!ay'01 pa;!w!l lou;nq'6u!pnlou!asegoind woJ; e pasodialu! Jo uo!;oe up ly6noiq aney lleqs Auedwoo 9yl JanauagM (0) pags!n6u!ls!p se mel;o uo!leiado (q painsu!paweu eql yo lsaJalu!ay;of pa9oons o14m asogl 'paJnsui paweu aql ysu!e6e peg aney pinom fuedwog ay; sasualap /µua6!I!p os op IIe14s 1! Jo s;g6u Aue of loefgns `pup'V alnpayas u!paLupu painsu!ay;:,,paJnsu!„ (e) 'ydeJ6eJed s!ql Japun slg6u sl!as!oiaxa pegs Auedwoo aq;11'/opod s!yl;o UO!s!noid i(ue 9Al2M Jo j!I!ge!I apaouoo /gaiay; IOU lle14s pue 'JapunaJay alge!I aq hugs :ueaw Ao!lod s!yl ui pasn uagm swiel 6u!mopo;agl ;! lou Jo Jaglaym `!a!lod sly;;o swial ayl Japun uo!loe a;epcoidde Aue ailpl Aew 'SWH31 10 NOIIINIj3a L SNOI1difldllS 4NV SN0111aN00 Jol!Paio uap Jo luawebpnf a Jo amen Jo;JaseyoJnd a of aopou liedwi of uo!lepiooei Lions;o Q) Jo'Ja;suEij to luawnilsu!aql piooei J(Iaw!l of (!) :ainl!e;ayl woJ;sylnsaJ Ja;sueJl Ie!luai9;aid ay;aJaym ldaoxe is;sueJl le!;u9Ja;aid a pawaap bu!aq Aopod s!gl!q paJnsu!lsaJalu!Jo alelsa ey1 6u11eeJ0 uo!;aesueJl a41 (4) Jo'Jaysueil lualnpneJ;Jo a0uef(9nuO3 lualnpneJ;a pawaap bu!aq Aopod s!yl fq painsu!;saialu!Jo alelsa aql 6u!;eaJe uo!loesueJ;ay; (e) :uo paseq s!leyl`smel sly6!J ,siol!pajo Jepw!s Jo'(auanlosu! alels'Ao;dnJ>lueq Ieiapay;o uo!leiado ayl;o uoseaJ (q 'Ao!Iod s!yl Aq painsu!;saialu!Jo alelsa aqj painsul ayl u! 6u!ys9n uo!loesueil aLil yo;no saspe go!ym'w!elo AuV 'q (ooej Aoilod}o apis;uoil woe;papniouoo pue penuguoo) panni;uoo 3DVE13AOO WOHA SNOISm0X3 Standard Coverage PACIFIC NORTHWEST TITLE INSURANCE COMPANY, INC. A.L.T.A. OWNER' S POLICY SCHEDULE A Order No. : 314571 Policy No. : 1093-33256 Policy Date : November 3 , 1997 Policy Amount : $50, 000 . 00 at 12 : 30 p.m. 1 . Name of Insured: CITY OF RENTON, a municipal corporation 2 . The estate or interest in the land described herein and which is covered by this Policy is : FEE SIMPLE 3 . The estate or interest referred to herein is at date of Policy vested in: CITY OF RENTON, a municipal corporation 4 . The land referred to in this Policy is described as follows : Lot 7, Block 2, Motor Line Addition to Renton, according to the plat thereof recorded in Volume 9 of Plats, page 50 , in King County, Washington. y Standard Coverage PACIFIC NORTHWEST TITLE INSURANCE COMPANY, INC. A.L.T.A. OWNER'S POLICY SCHEDULE B Policy No . : 1093-33256 This policy does not insure against loss or damage by reason of the following: GENERAL EXCEPTIONS : 1 . Rights or claims of parties in possession not shown by the public records . 2 . Easements, or claims of easements, not shown by the public record. 3 . Encroachments, overlaps, boundary line disputes, or other matters which would be disclosed by an accurate survey or inspection of the premises . 4 . Any lien, or right to a lien, for services, labor or material heretofore or hereafter furnished, imposed by law and not shown by the public records, or liens under the Workmen ' s Compensation Act not shown by the public records . 5 . Any title or rights asserted by anyone including but not limited to persons corporations, governments or other entities, to tide lands, or lands comprising the shores or bottoms of navigable rivers, lakes, bays, ocean or sound, or lands beyond the line of the harbor lines as established or changed by the United States Government . 6 . (a) Unpatented mining claims; (b) reservations or exceptions in patents or in Acts authorizing the issuance thereof; (c) water rights , claims or title to water. 7 . Taxes or special assessments which are not shown as existing liens by the public records . 8 . Any service, installation, connection, maintenance, capacity, or construction charges for sewer, water, electricity or garbage removal . 9 . Indian tribal codes or regulations, Indian treaty or aboriginal rights, including, but not limited to, easements or equitable servitudes . SPECIAL EXCEPTIONS : As on Schedule B, attached. (continued) 4440.. r% Policy No. : 1093-33256 A.L.T.A. OWNER' S POLICY SCHEDULE B Page 2 SPECIAL EXCEPTIONS : NONE END OF SCHEDULE B MS/cd/9732O *01 /Oo 30 30 /oo 13(8.14 3044 4o Jn h 2 u u /oo h /0 o fl 00 t 0fl AL'S 9 0 CP vi 44h S N � 4-0 � 0000 0 0 V l26 6 �-1 �3p 6 sIt X000 0 o h 2,6 sS � rj eps /3b o ,to, • 0 i h 7 Dc\ �^ Jr 9 p,,o : oc 010 C5 14, • ,�3,p ys � � Q o 2 � ; o ilil s¢3./S C7 m k 3 h o . 4 .oo J od• p,� ,o .D.C. ,, IN 16 .- j n 0 m al .jj 1 �2 /7 h 4 3 M ^^4l Z9g05 h h�A ooo'h c �,► ph p n � /6\ V s\ e 2 3 4.30 S. THIRD as s4 e7 /oo rP° 3o so44 :;oi as O M ST M Z, 30 44 44 40 4° 'f ¢ 0 -10 44 44 So N� / so by 5 4 3 2 / o y�� a ko I A O N O 0 6� p,y N1 U boo 9b 0 0 44 10 ¢ 40 40 4 N Q •4 4 S 4 4b 44 4 v N O p /20 /Zo 0 /zo Ro N ti N^. 7 ,os , *800°1411 29 8 �eooSti Aot3S 23: g e `o X340 23; o" In /2D 0 Lu +f 9 O ,!Oi+° 's���° w 9 .a��o f- -fo 0 150586 0�,�� ZZ PACIFIC NORTH«TST TITLE C0r-'\A,1Pr NTN JVOR7 Formerly Stewart Title Company Order No. 5 -� IMPORTANT: This is not a Plat of Survey. I: is furnished as a convenience to locate the land indicated hereon with reference to streets and other land. No liability is assumed by reason of reliance hereon. SOUT. CONDITIONS AND(S'TIPU'LATIONS Continued (continued and concluded from reverse side of Policy Face) attorneys' fees and expenses incurred by the insured claimant which were 12. PAYMENT OF LOSS. authorized by the Company up to the time of payment and which the Company is (a)No payment shall be made without producing this policy for endorsement obligated to pay;or of the payment unless the policy has been lost or destroyed,in which case proof of (ii) to pay or otherwise settle with the insured claimant the loss or damage loss or destruction shall be furnished to the satisfaction of the Company. provided for under this policy,together with any costs,attorneys'fees and expenses (b)When liability and the extent of loss or damage has been definitely fixed in incurred by the insured claimant which were authorized by the Company up to the accordance with these Conditions and Stipulations, the loss or damage shall be time of payment and which the Company is obligated to pay. payable within 30 days thereafter. Upon the exercise by the Company of either of the options provided for in paragraphs b(i)or(ii),the Company's obligations to the insured under this policy 13. SUBROGATION UPON PAYMENT OR SETTLEMENT. for the claimed loss or damage,other than the payments required to be made,shall (a) The Company's Right of Subrogation. terminate,including any liability or obligation to defend,prosecute or continue any litigation. Whenever the Company shall have settled and paid a claim under this policy, all right of subrogation shall vest in the Company unaffected by any act of the 7. DETERMINATION,EXTENT OF LIABILITY AND COINSURANCE. insured claimant. This policy is a contract of indemnity against actual monetary loss or damage The Company shall be subrogated to and be entitled to all rights and remedies sustained or incurred by the insured claimant who has suffered loss or damage by which the insured claimant would have had against any person or property in respect reason of matters insured against by this policy and only to the extent herein to the claim had this policy not been issued. If requested by the Company, the described. insured claimant shall transfer to the Company all rights and remedies against any person or property necessary in order to perfect this right of subrogation.The insured (a) The liability of the Company under this policy shall not exceed the least of: claimant shall permit the Company to sue,compromise or settle in the name of the (i) the Amount of Insurance stated in Schedule A;or, insured claimant and to use the name of the insured claimant in any transaction or (ii) the difference between the value of the insured estate or interest as litigation involving these rights or remedies. insured and the value of the insured estate or interest subject to the defect lien or If a payment on account of a claim does not fully cover the loss of the insured encumbrance insured against by this policy. claimant, the Company shall be subrogated to these rights and remedies of the (b) In the event the Amount of Insurance stated in Schedule A at the Date of proportion which the Company's payment bears to the whole amount of the loss. Policy is less than 80 percent of the value of the insured estate or interest or if If loss should result from any act of the insured claimant, as stated above, subsequent to the Date of Policy an improvement is erected on the land which that act shall not void this policy,but the Company,in that event,shall be required increases the value of the insured estate or interest by at least 20 percent over the to pay only that part of any losses insured against by this policy which shall exceed Amount of Insurance stated Schedule A,then this Policy is subject to the following: the amount,if any,lost to the Company by reason of the impairment by the insured (i) where no subsequent improvement has been made, as to any partial claimant of the Company's right of subrogation. loss,the Company shall only pay the loss pro rata in the proportion that the amount (b) The Company's Rights Against Non-insured Obligors. of insurance at Date of Policy bears to the total value of the insured estate or interest The Company's right of subrogation against non-insured obligors shall exist at Date of Policy;or and shall include, without limitation, the rights of the insured to indemnities, (ii) where a subsequent improvement has been made, as to any partial guaranties, other policies of insurance or bonds, notwithstanding any terms or loss,the Company shall only pay the loss pro rata in the proportion that 120 percent conditions contained in those instruments which provide for subrogation rights by of the Amount of Insurance stated in Schedule A bears to the sum of the Amount of reason of this policy. Insurance stated in Schedule A and the amount expended for the improvement. The provisions of this paragraph shall not apply to costs,attorneys'fees and 14. ARBITRATION. expenses for which the Company is liable under this policy,and shall only apply to Unless prohibited by applicable law, either the Company or the insured may that portion of any loss which exceeds,in the aggregate,10 percent of the Amount demand arbitration pursuant to the Title Insurance Arbitration Rules of the American of Insurance stated in Schedule A. Arbitration Association.Arbitrable matters may include, but are not limited to,any controversy or claim between the Company and the insured arising out of or relating (c) The Company will pay only those costs, attorneys' fees and expenses to this policy, any service of the Company in connection with its issuance or the incurred in accordance with Section 4 of these Conditions and Stipulations. breach of a policy provision or other obligation. All arbitrable matters when the Amount of Insurance is$1,000,000 or less shall be arbitrated at the option of either 8. APPORTIONMENT. the Company or the insured.All arbitrable matters when the Amount of Insurance is If the land described in Schedule A consists of two or more parcels which are in excess of$1,000,000 shall be arbitrated only when agreed to by both the Company not used as a single site, and a loss is established affecting one or more of the and the insured.Arbitration pursuant to this policy and under the Rules in effect on parcels but not all,the loss shall be computed and settled on a pro rata basis as if the date the demand for arbitration is made or, at the option of the insured, the the amount of insurance under this policy was divided pro rata as to the value on Rules in effect at Date of Policy shall be binding upon the parties.The award may Date of Policy of each separate parcel to the whole,exclusive of any improvements include attorneys' fees only if the laws of the state in which the land is located made subsequent to Date of Policy, unless a liability or value has otherwise been permit a court to award attorneys' fees to a prevailing party. Judgment upon the agreed upon as to each parcel by the Company and the insured at the time of the award rendered by the Arbitrator(s)may be entered in any court having jurisdiction issuance of this policy and shown by an express statement or by an endorsement thereof. attached to this policy. The law of the situs of the land shall apply to an arbitration under the Title 9. LIMITATION OF LIABILITY. Insurance Arbitration Rules. (a) If the Company establishes the title,or removes the alleged defect,lien or A copy of the Rules may be obtained from the Company upon request. encumbrance, or cures the lack of a right of access to or from the land, or cures the claim of unmarketability of title,all as insured,in a reasonably diligent manner 15. LIABILITY LIMITED TO THIS POLICY:POLICY ENTIRE CONTRACT. by any method,including litigation and the completion of any appeals therefrom,it (a) This policy together with all endorsements,if any, attached hereto by the shall have fully performed its obligations with respect to that matter and shall not Company is the entire policy and contract between the insured and the Company. be liable for any loss or damage caused thereby. In interpreting any provision of this policy,this policy shall be construed as a whole. (b) In the event of any litigation, including litigation by the Company or with (b) Any claim of loss or damage, whether or not based on negligence, and the Company's consent, the Company shall have no liability for loss or damage which arises out of the status of the title to the estate or interest covered hereby or until there has been a final determination by a court of competent jurisdiction,and by any action asserting such claim,shall be restricted to this policy. disposition of all appeals therefrom,adverse to the title as insured. (c) No amendment of or endorsement to this policy can be made except by a (c) The Company shall not be liable for loss or damage to any insured for writing endorsed hereon or attached hereto signed by either the President, a Vice liability voluntarily assumed by the insured in settling any claim or suit without the President,the Secretary,an Assistant Secretary,or validating officer or authorized prior written consent of the Company. signatory of the Company. 10. REDUCTION OF INSURANCE:REDUCTION OR TERMINATION OF 16. SEVERABILITY. LIABILITY. In the event any provision of this policy is held invalid or unenforceable under All payments under this policy, except payments made for costs, attorneys' applicable law, the policy shall be deemed not to include that provision and all fees and expenses,shall reduce the amount of the insurance pro tanto. other provisions shall remain in full force and effect. 11. LIABILITY NONCUMULATIVE. 17. NOTICES,WHERE SENT. It is expressly understood that the amount of insurance under this policy shall All notices required to be given the Company and any statement in writing be reduced by any amount the Company may pay under any policy insuring a required to be furnished the Company shall include the number of this policy and mortgage to which exception is taken in Schedule B or to which the insured has shall be addressed to the Company at 1201 Third Avenue,Suite 3800,Seattle,WA agreed, assumed, or taken subject, or which is hereafter executed by an insured 98101. and which is a charge or lien on the estate or interest described or referred to in Schedule A,and the amount so paid shall be deemed a payment under this policy to the insured owner. ALTA OWNER'S POLICY—10-17-92 � N (D 01 C 3 pp� Q 7 N (D (� 7 C (fl (D 'b O C 00 O W i W 1 O a O �l CC 'S w Z ro 05/08/95 �r► *two Page 3 Recommendation Execute a purchase and sale agreement with Howard Sheridan for the four parcels of downtown property described below and amend the 1995 budget to permit the acquisition. Property Acquisition Parcel Description Tax Account Numbers 1) Large parcel between 2nd and 3rd on Logan 569600-0010 784180-0035 2)Parcel located at intersection of 3rd and Logan 569600-0005 3)Two lots on West side Burnett between 2nd and 3rd 569600-0115 569600-0120 4)Third Ave-Small vacant lot next to Pipeline Trail 569600-0050 5) Fourth and Burnett- W. side of Burnett next to Spirit of Washington 783930-0315 783930-0305 POLICY OF TITLE INSURANCE ISSUED BY !11� Fill SUBJECT TO THE EXCLUSIONS FROM COVERAGE, THE EXCEPTIONS FROM COVERAGE CONTAINED IN SCHEDULE B AND THE CONDITIONS AND STIPULATIONS, PACIFIC NORTHWEST TITLE INSURANCE COMPANY, INC., a Washington corporation, herein called the Company, insures, as of Date of Policy shown in Schedule A, against loss or damage, not exceeding the Amount of Insurance stated in Schedule A, sustained or incurred by the insured by reason of: 1. Title to the estate or interest described in Schedule A being vested other than as stated therein; 2. Any defect in or lien or encumbrance on the title; 3. Unmarketability of the title; 4. Lack of a right of access to and from the land. The Company will also pay the costs, attorneys' fees and expenses incurred in defense of the title, as insured, but only to the extent provided in the Conditions and Stipulations. IN WITNESS WHEREOF, Pacific Northwest Title Insurance Company, Inc. has caused this policy to be signed and sealed by its duly authorized officers as of the Date of Policy shown in Schedule A. L--Q .` President PACIFIC NORTHWEST TITLE Counterslgne[+ Insurance Company,Inc. �1t11�E INSp94 Authorized Signatory>` ti ro9P0R47E i,c e ° n•nlcln NGRTHWEST TITI F SEAL 'a Comp 'k 1926r ,tom ;Itle, Washington �k'gSNINOSO'I` City,State EXCLUSIONS FROM COVERAGE The following matters are expressly excluded from the coverage of this policy and the Company will not pay loss or damage,costs, attorneys'fees or expenses which arise by reason of: 1. (a) Any law, ordinance or governmental regulation (including but not limited to building and zoning laws, ordinances, or regulations) restricting, regulating, prohibiting or relating to (i)the occupancy, use, or enjoyment of the land; (ii)the character, dimensions or location of any improvement now or hereafter erected on the land;(iii)a separation in ownership or a change in the dimensions or area of the land or any parcel of which the land is or was a part;or(iv)environmental protection,or the effect of any violation of these laws,ordinances or governmental regulations,except to the extent that a notice of the enforcement thereof or a notice of a defect,lien or encumbrance resulting from a violation or alleged violation affecting the land has been recorded in the public records at Date of Policy. (b) Any governmental police power not excluded by(a)above,except to the extent that a notice of the exercise thereof or a notice of a defect,lien or encumbrance resulting from a violation or alleged violation affecting the land has been recorded in the public records at Date of Policy. 2. Rights of eminent domain unless notice of the exercise thereof has been recorded in the public records at Date of Policy,but not excluding from coverage any taking which has occurred prior to Date of Policy which would be binding on the rights of a purchaser for value without knowledge. 3. Defects,liens,encumbrances,adverse claims or other matters: (a) created,suffered,assumed or agreed to by the insured claimant; (b) not known to the Company, not recorded in the public records at Date of Policy, but known to the insured claimant and not disclosed in writing to the Company by the insured claimant prior to the date the insured claimant became an insured under this policy; (c) resulting in no loss or damage to the insured claimant; (d) attaching or created subsequent to Date of Policy;or (e) resulting in loss or damage which would not have been sustained if the insured claimant had paid value for the estate or interest insured by this policy. 0-1093- 35811 ALTA OWNER'S POLICY—10-17-92 (Aoilod sl4;;o 96ed4sei uo papnlouoo pue penultuoo) 'sjsoo/ue 4l!m jaylabol`Ao!lod s!yj japun Isu!e6L painsu!w!elo Aue juew!elo painsu! luedwo a ainsu!se' saja u!jo a e so a o a ! a ue 10 aweu oLIj u!jo jol se!ljed aaylo qI!m allies as!mjeglo io (ed of (!) 41'P 1 3 1 3 14j j p 3 joLIj but4sipaesa of alge.nsap e �C�essaoau aq�(ew uo!u!do sl!u!LIo!ym;oe aay;o�(ue op of ao 6u!paa0wd ao uo!10e�(ue •luew!e!0 painsu!041 alnoasoad pue alnl!Isu!of`ISOO uMo sl!le'Iy61A 9141 aney lleys (uedwoo ayj (q) 41!M Jo painsul 041 ue41 J0410 sa!laed 41!M 81110S as!maa410 Jo Aed 01 (q) •A0!lod -uo!lellaoueo jol (uedwoo ayj of pajapuaains aq Reqs (oilod ay;pue`uo!je6!j!I Aue s!LIl (q lsu!e6e painsu!lou saallew a6allL yo!ym uo!loe to sasneo asogj jo asualap anu!;uoo jo 'alnoasoad 'pualap of uo!leb!!go Ao Al!I!ge!I /ue bu!pnlou! 'aleu!wial ay;u! painsu!ayj!q pajinou! sasuadxa jo slsoo `seal AuL (ed lou II!m (uedwo0 Reqs `pannb9A juawALd ay;wiew of ueyj jaylo 'Ao!lod slyl japun painsu! ay;of ayj-lesunoo jegjo (ue to seal ayj Aed lou II!m pue Aol alge!l aq lou Reqs pue uolloe suope6!Igo pue Al!I!ge!I Ile'uo!ldo s!yl jo fuedwoo ayj/q as!oaaxa ay;uodn to sasneo pa;els asoyj of se painsu!ayj lueseAdej of(asneo algeuoseaa aol loafgo -ALd of paju&lgo s!luedwo0 ayj 14o!14m pue of painsu!ay1 jo Iy6u ayl of loafgns)ao!oyo sp 10 lasunoo loofas of ly6!a ayj aney juaw/ed jo aapual jo juaw(ed 10 aw!j ayj of do 'Auedwo0 ayj Aq pez!aoy;ne aaam Reqs /uedwoo ay1 (oilod s!14l Aq Isu!ebe peAnsu! jallew jeglo Ao aoueagwnoua yo!ym'juLw!Ll0 paAnsu!a14l (q pajanou!sasuadxa pue seal,s oujolle'lsoo (ue yl!m Ao ua!I `joalop a bu!6alle uouoe to sasneo palels asoyj of se Aluo Inq 'painsu! jaLIlabol Ao!lod s!yl aapun aouejnsu!jo junowe ayj jo juawAed iepual jo Aed o1 se IS9J81U!Jo 911!j ayj 01 asaanpe w!elo a sposse (lied pj!yl Aue yo!14m u!uo!jL6!j!I u! painsu! ue 10 asualap ay; Jol ap!Aojd lleys 'Relap elgeuoseaaun Inoyl!m pue •eoueansul to lunowV a41 to 1uawAed aapual io (ed of (e) lsoo umo s;! Ie `Ruedwo0 ay3 'suo!;elnd!ls pue suo!l!puo(] asayj 10 g uo!Ioas u! :suo!jdo Ieuo!l!ppe pou!ejuoo suolldo ay;of loafgns pue painsu!ayl Aq Isanbei uallum uodn (L) 6u1MOIIoj ayj aney Ileys (uedwoo a141 'Ao!lod s!141 japun w!elo a to aseo ul '31VH3d000 Ol 1NtlWltl10 'A11118tl11 03HnSNl d0 A1n0:SN0110tl zIO NOI1n03SOHd 0NV 3SN3j30 4 AO NOIIVNIWU31:SWIV'10 31113S 3SIMH3H10 HO AVd Ol SN0I1d0 '9 ,ao!pnfajd ayl jo jueIxe ayj of lluo uayj pue 'w!e10 leyl 01 aanl!ej 9yj!q peo!pnfaid aq Ileys (uedwoo ay;ssalun (ollod s!141 j9pun painsu! (ue se/o!lod sly;japun (uedwoo ay;jo Al!l!ge!I/pue aleu!waal lleys ydeibeAed s!yl u! jo sjy6!a eqj ao!pnfaad aseo ou u!Reqs (uedwo0 aqj A1!lou of einllel ILLI;'aanaMoy pannbei se sallied pa!yl woaj uo!jewmo u!/aessaoau Rlgeuoseaa amoas of uo!ss!wjed 'pap!Aoid 'pa.nnbaa s! aollou Idwwd 14o!14m jol saallew ao jallew ay; of pae6ai Iuea6 jo uo!lewaolu!palsonbei Alceuoseej aayjo eonpoid'yleo japun uo!jeu!wexa Aol yl!m aleu!wjal Ileys (uedwo0 ay;to (I!I!ge!l Ile painsu!ayj of se uayl '(uedwo0 1!wgns of 1uLw!elo paAnsu!ayj jo ejnl!ej-w!elo ayj 10 uo!jeajs!u!wpe ayj u!laessaoau ayj o;u9A!6 eq lou lleys aollou;dwoad 11 -algejaNjewun se poloafai s! 'painsu!se sl I! `/uLdwoo ayj 10 luawbpnf algeuosew ayj u! 'ssalun siaylo of pasolos!p aq ';saga;u!jo ejelse ayj of aIj!j l!(n!)jo'(ollod s!yl 10 anla!A Aq alge!l!ew (uedwo0 jou Reqs uo!loas s!y1 of Iuensind luedwoo ayl01 paplAoad juew!elo paansu!ay;(q ayj yo!ym jol abewep ao ssol asneo ly6!w yo!14m pue'painsu!se`Isojejui jo alelsa le!juep!luoo se paleu6!sap uo!lewaolu!IIV abewep ao ssol ayj of u!eljad Algeuoseaj 94101 914!1 ayj 01 9SJ9Ape s!y0!yM lsaJalul io ell!j jo w!Llo/uL jo aapunaaay painsu! yo!ym '/lied pa!yl e 10 Iwluoo jo/pojsno a141 u!epueAowow pue eouapuodsajaoo ue o;awoo pegs abpalmou> aseo u!(n)`molaq(e)t,uo!loeS u!yljol las se uo!1e6!l!l 'sNoayo 'sia6pal 'sNooq 'spmow Ile /doo pue loodsu! 'au!wexa of AuLdwoo aql (ue to aseo u! (!) bu!lum w (lldwwd (uedwoo ayl Aplou Ileys painsu! ay1 10 9A!Ieluesejdaj pez!aoylne Aue jo;'bu!lum u! `uo!ss!waad sl!luej6 lle14s luewlelo 'INVWIV10 03HnSNl A9 N3AIO 38 Ol WIV10 d0 301ION T painsu!ayj'(uedwo0 ayj 10 eApeluasaidej pazuoylne!ue Aq palsanbeA 1!'jaylanj 96ewep jo ssol ay1 of u!eljed Algeuoseei yo!ym`Ro!lod;o ale(]jalle Ao GJolaq alep aajnsu!a 1 01 uaA!6 a6e6 low Rauow ase wnd e p y ; y q pwnoas 6uueaq aaylagm'epueaowow pue eouepuodsajjoo's>{oago`sjebpal`s>ooq'spaooaa ssaupalgapu!ue(!!)ao`puel ayj u!Isajalu!jo alelsa pue(!)jegl!e 10 painsu!ayj woal Ile'(uedwoo ayj to aA!Ieluesejdaa pezuogIne (ue/q poleu6!sap aq (ew se saoeld aaseyofnd!ue 10 aonej u!aojol u!anu!luoo jou Ileys{o!lod s!yj-Isaialu!jo alelsa pue saw!;algeuosLej yons le `6u!(doo pue uo!joadsu! 'uo!leu!wexe jol eonpoid ayj jo eoue(anuoo to aalsueal�(ue u! painsu! a141 (q apew (IueNAeM to sjueuanoo lleys pue/uedwo0 ay310 aA!jejuasaidej pazuoylne (ue (q yluo japun uo!leu!wexa ;o uoseaa Aq �(;!I!ge!l aney Ileys paansu! ayj se 6uol os Aluo ao 'painsu! ay; wao; o; ;!wgns of paj!nbaj aq (Igeuoseaa fWuA luew!elo paansu! ayj 'uo!j!ppe ul jaseyoand a/q u9A!b a6e63aow (auow aseyoand a Aq painoas ssaupalgapu!ue splo14 a6ewep jo ssol jo looid yons 6uu!nbei saallew ao jallew ayj of jo'puel a14l u!jsaAalu!ao alelsa ue su!ejej painsu!ayj se buol os/luo painsu!ue jo piebei Ulm'uo!je6!j!I (ue anu!luoo ao'alnoesoad`pualap of uo!je6!lgo jo I!I!ge!l Aue cone;u!!0110d jo ale(]to se aojol u!anu!luoo Reqs (o!lod s!yl to abeAan00 9141 6u!pnlou!'ejeu!wjel Ileys(o!Iod ayj japun painsu!ayj of suo!;e6!Igo s,(uedwo0 ayj 31111 d0 30NVA3AN00 H31zlV 30NVunSNI d0 NOI1VnNIIN00 'Z 'abewep jo ssol jo looid paalnbaa ayj ap!Aoad of luew!elo painsu!ayj to ajnl!el ayj Aq poo!pnfaad s!Ruedwoo ay11I abewep io ssol ayj jo lunowe eql 6u!lelnoleo 10 s!seq '911!1 olquieNjew 9141'elq!ssod juajxe ayj of'a1Lls Reqs pue a6ewep ao ssol 10 s!seq ayj sajnipsuoo 10 (JOA119P ayj 6uumbai uo!l!puoo Ienjoealuoo a jo anla!A (q aseywnd of uo!le6!lgo 14o!ym Aoilod s!yj (q jsu!e6e painsu! jellew jay10 Ao 'alj!l ayj uo aouejgwnoua ayj wwj poseelai aq of V alnpayos u!paq!Aosep Isajeju!jo alelsa ayj jo aaseyoand ao u9!I ao u! Ioalap ayj agposep Reqs a6ewep ao ssol 10 looad a141 a6ewep a aligue pinom y0!yM 'a6LJaAO0 wwj peldeoxe aoP P a nIoxa jou 'Fuel 9143 0l al3!1 Jo ssol ayj of esu 6u!A!6 sloe;ayj u!elaaose Ileys juew!elo painsu! eql aalle s/ep ayj bu!loolle jallew luejudde io paballe ue : aµ!1 ayl jo (l!l!gelaNjE!wun„ (6) 06 u!yl!m Ruedwo0 aql of pays!ujnl aq Ileys lusw!elo painsu!ayj Aq of uaoms pue pau6!s a6ewep ao ssol jo looid e`luedwoo ay3 p9p!Awd uaeq aney suo!jelnd!jS pue paleool s! pue;ay3 yo!ym u!;0!als!p GLI;ao; suo!l!puoo asayl jo E uo!loas japun pannbei sao!jou ayj jal1e pue o;uo!l!ppe ul l.inoo;o!11s!p salejs pauun ayj to i-io ayj 10 spjooei ay;u! pal!1 sua!I uo!Ioajoid Ie;uawuoa!Aua apnlou! osle Ileys „spaooaa o!lgnd„ 'a6ea9nO3 woaj suo!snlox3 9141 '30VWVa HO SSOI dO d00Hd 'S 10(A!)(e)l uo!Ioas of loodsaa yj!M'abpalmoul Inoy;!m pue anleA sol saaseyoind of o'91n o (liadwd leaf of 6u!IelaJ saallew 10 90!;ou aA!jonjjsuoo 6u!ljedwi to asodind ayj aol uo!lyons 6uu!nbao suajjew ao 43110d 10 aIe(]le sa;njels alels aapun pays!lgelse spAooei:,,spaooei o!lgnd„ (1) aajjew ay;o;pae6aA yl!M`uo!;e6!lp�(ue anu!luoo jo 'pualap o3 uo!;e6!lgo ao Rl!I!ge!I/pue 6u!pnlou!'ejeu!wial Ileys (o!lod ay;aapun painsu!ayj of suo!IL6!lgo 'juawnilsu! s,luedwoo 9141 'uo!jejad000 pannbaj ay; LIs!ujnl of paansu! ayl jo ajnl!el ay; (q fjpnoas jaylo jo `peep jsnil 'Isnil jo peep 'abebljow :,,96e6jjow„ (a) peolpnfaid s!Ruedwoo ayj 11 -painsu!se lsaAalui jo alelsa ayj of aµ!j ayj 14s!Igejsa (o!lod s!y1/q painsu!s!puel ay1 wwl pue of ssaooe jo jy6u e yo!ym of of algea!sap jo/Aessa0au aq/ew (uedwo0 ayj jo uo!u!do ayj u! yo!ym joe Inlmel jualxa ayj 1!w!I jo Appow Ile14s u!ajay bu!yjou jnq's Lmialem ao s(em'sauel's(alle aaylo Aue u! (!!) pue 'Iuawalllas 6u!loalle jo `6u!paeowd ao uo!joe 9141 bu!puajap `senuane'speoa'slaejlsbu!ljngeu!juawaseajoale4sa'IseAelu!'011!1'ly6!a (uLjou'V ao l5winoosoid 'sassaul!m 6umelgo 'aouap!Aa 6uunoes 'bu!paaooid ao uo!joe!ue alnpayos u!of paijejej ao paq!aosep eam ayj jo sau!I a14l puo eq Aliedoid Aue apnlou! u!(!)p!e algeuoseaa Ile (uedwoo ay1 aA!6 Ileys'asuadxa s,/uedwoo ayj le'paansu! lou scop ,puel,, weal ayj .A;aadwd leaf ajnl!lsuoo mel (q yo!ym olaaayl pax!lle ayj`/uedwoo ay; (q palsonbai JanauayM asodind s!y3 jol painsu!ayj to aweu ayj sluawanojdw!pue'V alnpayos u!o;pajAelej jo paquosap puel ayj:,,puel„ (p) `u0!1do sj!le`asn of (uedwoo ayj l!wjad pue'u!aaayl sleadde lle pue'bu!paeowd pue;ay;6u!10a11e ao uo!;oe ayj u! asualap ap!nojd jo ajn0asoid os of ;y6!a ay; /uedwoo ay1 Saallew 10 90!Iou 9A!lonjjsuoo liedwi yo!ym spaooaa a9y10 (ue jo(o!Iod s!yl u!pau!lap of ainoas lleys painsu!ayj'bu!paaooid Jo u0!;3e (ue 10 asualap ayj aol ep!Aoid ao se s jooei o! nd a alnoasoad of (uedwo a j saj!nbei jo sl!uwjad (o!od s! aaa m sase0 e u p Iq 41 to uosea� (q paansu! ue o;pa;ndw!aq/ew y0!ym aollou�o 0 4 yl 4 II (P) a6p91Mou>I 9Aµona;suoo jou 'a6palmouN Ienjoe :,,umouN,, Ao ,ebpelmou I, (o) -japao jo juawbpnf abewep ao ssol 6u!w!elo painsu!ue:,,Iuew!elo painsu!,, (q) asJanpe (ue wojl leadde of `uo!lajos!p alos sl! u! 'Iy6!a ayj sanaasGA Alssajdx9 pue uo!lo!ps!anf jualadwoo jo lfnoo e!q uo!jeu!wjalep Ieu!l of uo!je6!j!I/ue ans.ind sioss000ns Aje!onp!l Ao alejodaoo ao'u!>I 10 Ix9u'SOApeluasaidej leuosied !ew (uedwo0 aql`!o!Iod slyj;o Suo!s!Awd aql/q pajl!wad jo pannbei se asualap 'SJOAIA1nS'sao!Aap'saalnqujs!p'snag'ol paj!w!I lou lnq`6u!pnlou!aseyoand wwl e posodialu! jo uolloe ue lgbnoaq aney Reqs Auedwoo ayj J9Aau9yM (0) p914s!n6uµs!p se Awl;o uo!jeaado (q painsu!paweu ayj lo;saaalu!ayj of paaoons oym asogj 'painsu! paweu ayj Isu!e6e pey aney pinom (uedwoo ayj sasuejap �Ilua6!l!p os op Ileys;! Ao sI146u!ue of loafgns`pue'V alnpayos u!paweu painsu!ayj:,,painsu!,, (e) `ydea6eaed s!14l Aepun s1146u sl!asmaxe Reqs Auedwo0 ayj 11 (o!Iod s1yl10 uo!s!Aoid Aue 0A!eM a0 Al!l!ge!I opeouoo Aqajeql you Keys pue 'aapunaaay alge!l aq llegs :ueow lopod s!yl u!pasn uaym swAaj bu!mollol ay1 ;! IOU Ao jeq;aym '/o!1od s!yj jo swial ayj japun uoµoe aleudwdde/uL 9>uj/yew 'SWH31 d0 NOI11NId30 '4 SNouvindI1S aNV SN0111aN00 jol!paao ua!l ao juawa6pnf a jo anleA AOl aaseywnd a of ao!jou liedwi of uo!Iepaooei yons jo (!!) jo'jalsuejl to luewnilsu!ayj paooei law!j of (I) :ajnl!el ayj wwl slinsaj aalsueal leµuejejaid ayj aaagm Ideoxe jalsuejI leµuaialaid a pawaap 6u!aq Ao!lod sly;/q paansui jsajeju!jo alelsa aql 6uquejo uoµoesueal ayj (q) jo'Aalsuejl jualnpneil jo aouel9nuo0 jualnpneil a pawaap bu!aq (oyod s!ql Aq painsu!Isaaalu!ao alelsa ayj bu!leajo uoµoesuell ayl (e) :uo poseq s!jeyj`smel sly6u ,SJOI!PE)JO ael!w!s ao'f(0u9Alosu! alels'(o;dnjNueq Ieaapal 10 uo!jeiedo ayl jo uoseei (q 'Ao!lod s!yl (q painsu!Isojeju!ao alelsa ayj paansul ayj u! 6u!IsaA uo!loesueal ayj 10 Ino saspe LIo!ym'w!elo (uV -b (ooej Ao110d ;o opls;uoa;woa;popnjouoo pue penultuoo) penuiluo0 30VE13A00 W0a3 SNoism=3 Standard Coverage PACIFIC NORTHWEST TITLE INSURANCE COMPANY, INC . A.L. T.A. OWNER' S POLICY SCHEDULE A Order No . : 314572 Policy No. : 1093-35811 Policy Date : January 12 , 1998 Policy Amount : $210 , 000 . 00 at 9 : 33 a.m. 1 . Name of Insured: CITY OF RENTON, a Municipal corporation 2 . The estate or interest in the land described herein and which is covered by this Policy is : FEE SIMPLE 3 . The estate or interest referred to herein is at date of Policy vested in: CITY OF RENTON, a Municipal corporation 4 . The land referred to in this Policy is described as follows : Lots 12 and 13 , Block 2 , Motor Line Addition to the City of Renton, according to the plat thereof recorded in Volume 9 of Plats, page 50 , in King County, Washington; EXCEPT the easterly 6 feet thereof conveyed to the City of Renton by deed recorded under Recording Number 910201 . rrrNwoe Standard Coverage PACIFIC NORTHWEST TITLE INSURANCE COMPANY, INC. A. L. T.A. OWNER' S POLICY SCHEDULE B Policy No . : 1093 -35811 This policy does not insure against loss or damage by reason of the following : GENERAL EXCEPTIONS : 1 . Rights or claims of parties in possession not shown by the public records . 2 . Easements, or claims of easements, not shown by the public record . 3 . Encroachments, overlaps, boundary line disputes, or other matters which would be disclosed by an accurate survey or inspection of the premises . 4 . Any lien, or right to a lien, for services, labor or material heretofore or hereafter furnished, imposed by law and not shown by the public records, or liens under the Workmen ' s Compensation Act not shown by the public records . 5 . Any title or rights asserted by anyone including but not limited to persons corporations, governments or other entities, to tide lands , or lands comprising the shores or bottoms of navigable rivers, lakes, bays, ocean or sound, or lands beyond the line of the harbor lines as established or changed by the United States Government . 6 . (a) Unpatented mining claims; (b) reservations or exceptions in patents or in Acts authorizing the issuance thereof; (c) water rights, claims or title to water. 7 . Taxes or special assessments which are not shown as existing liens by the public records . 8 . Any service, installation, connection, maintenance, capacity, or construction charges for sewer, water, electricity or garbage removal . 9 . Indian tribal codes or regulations, Indian treaty or aboriginal rights, including, but not limited to, easements or equitable servitudes . SPECIAL EXCEPTIONS : As on Schedule B, attached. (continued) i I *fto" r+ Policy No. : 1093 -35811 A.L.T.A. OWNER'S POLICY SCHEDULE B Page 2 SPECIAL EXCEPTIONS : END OF SCHEDULE B XX/pjn/9775O CONDITIONS AND STIPULATIONS Continued (continued and concluded from reverse side of Policy Face) attorneys' fees and expenses incurred by the insured claimant which were 12. PAYMENT OF LOSS. authorized by the Company up to the time of payment and which the Company is obligated to pay;or (a)No payment shall be made without producing this policy for endorsement of the payment unless the policy has been lost or destroyed,in which case proof of (ii) to pay or otherwise settle with the insured claimant the loss or damage loss or destruction shall be furnished to the satisfaction of the Company. provided for under this policy,together with any costs,attorneys'fees and expenses (b)When liability and the extent of loss or damage has been definitely fixed in incurred by the insured claimant which were authorized by the Company up to the accordance with these Conditions and Stipulations, the loss or damage shall be time of payment and which the Company is obligated to pay. payable within 30 days thereafter. Upon the exercise by the Company of either of the options provided for in paragraphs b(i)or(ii),the Company's obligations to the insured under this policy 13. SUBROGATION UPON PAYMENT OR SETTLEMENT. for the claimed loss or damage,other than the payments required to be made,shall (a) The Company's Right of Subrogation. terminate,including any liability or obligation to defend,prosecute or continue any litigation. Whenever the Company shall have settled and paid a claim under this policy, all right of subrogation shall vest in the Company unaffected by any act of the 7. DETERMINATION,EXTENT OF LIABILITY AND COINSURANCE. insured claimant. This policy is a contract of indemnity against actual monetary loss or damage The Company shall be subrogated to and be entitled to all rights and remedies sustained or incurred by the insured claimant who has suffered loss or damage by which the insured claimant would have had against any person or property in respect reason of matters insured against by this policy and only to the extent herein to the claim had this policy not been issued. If requested by the Company, the described. insured claimant shall transfer to the Company all rights and remedies against any person or property necessary in order to perfect this right of subrogation.The insured (a) The liability of the Company under this policy shall not exceed the least of: claimant shall permit the Company to sue,compromise or settle in the name of the (i) the Amount of Insurance stated in Schedule A;or, insured claimant and to use the name of the insured claimant in any transaction or (ii) the difference between the value of the insured estate or interest as litigation involving these rights or remedies. insured and the value of the insured estate or interest subject to the defect lien or If a payment on account of a claim does not fully cover the loss of the insured encumbrance insured against by this policy. claimant, the Company shall be subrogated to these rights and remedies of the (b) In the event the Amount of Insurance stated in Schedule A at the Date of proportion which the Company's payment bears to the whole amount of the loss. Policy is less than 80 percent of the value of the insured estate or interest or if If loss should result from any act of the insured claimant, as stated above, subsequent to the Date of Policy an improvement is erected on the land which that act shall not void this policy,but the Company,in that event,shall be required increases the value of the insured estate or interest by at least 20 percent over the to pay only that part of any losses insured against by this policy which shall exceed Amount of Insurance stated Schedule A,then this Policy is subject to the following: the amount,if any,lost to the Company by reason of the impairment by the insured (i) where no subsequent improvement has been made, as to any partial claimant of the Company's right of subrogation. loss,the Company shall only pay the loss pro rata in the proportion that the amount (b) The Company's Rights Against Non-insured Obligors. of insurance at Date of Policy bears to the total value of the insured estate or interest The Company's right of subrogation against non-insured obligors shall exist at Date of Policy;or and shall include, without limitation, the rights of the insured to indemnities, (ii) where a subsequent improvement has been made, as to any partial guaranties, other policies of insurance or bonds, notwithstanding any terms or loss,the Company shall only pay the loss pro rata in the proportion that 120 percent conditions contained in those instruments which provide for subrogation rights by of the Amount of Insurance stated in Schedule A bears to the sum of the Amount of reason of this policy. Insurance stated in Schedule A and the amount expended for the improvement. The provisions of this paragraph shall not apply to costs,attorneys'fees and 14. ARBITRATION. expenses for which the Company is liable under this policy,and shall only apply to Unless prohibited by applicable law, either the Company or the insured may that portion of any loss which exceeds,in the aggregate,10 percent of the Amount demand arbitration pursuant to the Title Insurance Arbitration Rules of the American of Insurance stated in Schedule A. Arbitration Association.Arbitrable matters may include, but are not limited to,any c The Company will controversy or claim between the Company and the insured arising out of or relating ( ) p y pay only those costs, attorneys' fees and expenses to this policy, any service of the Company in connection with its issuance or the incurred in accordance with Section 4 of these Conditions and Stipulations. breach of a policy provision or other obligation. All arbitrable matters when the 8. APPORTIONMENT. Amount of Insurance is$1,000,000 or less shall be arbitrated at the option of either the Company or the insured.All arbitrable matters when the Amount of Insurance is If the land described in Schedule A consists of two or more parcels which are in excess of$1,000,000 shall be arbitrated only when agreed to by both the Company not used as a single site, and a loss is established affecting one or more of the and the insured.Arbitration pursuant to this policy and under the Rules in effect on parcels but not all,the loss shall be computed and settled on a pro rata basis as if the date the demand for arbitration is made or, at the option of the insured, the the amount of insurance under this policy was divided pro rata as to the value on Rules in effect at Date of Policy shall be binding upon the parties.The award may Date of Policy of each separate parcel to the whole,exclusive of any improvements include attorneys' fees only if the laws of the state in which the land is located made subsequent to Date of Policy, unless a liability or value has otherwise been permit a court to award attorneys' fees to a prevailing party. Judgment upon the agreed upon as to each parcel by the Company and the insured at the time of the award rendered by the Arbitrator(s)may be entered in any court having jurisdiction issuance of this policy and shown by an express statement or by an endorsement thereof. attached to this policy. The law of the situs of the land shall apply to an arbitration under the Title 9. LIMITATION OF LIABILITY. Insurance Arbitration Rules. (a) If the Company establishes the title,or removes the alleged defect,lien or A copy of the Rules may be obtained from the Company upon request. encumbrance, or cures the lack of a right of access to or from the land, or cures the claim of unmarketability of title,all as insured,in a reasonably diligent manner 15. LIABILITY LIMITED TO THIS POLICY:POLICY ENTIRE CONTRACT. by any method,including litigation and the completion of any appeals therefrom,it (a) This policy together with all endorsements, if any,attached hereto by the shall have fully performed its obligations with respect to that matter and shall not Company is the entire policy and contract between the insured and the Company. be liable for any loss or damage caused thereby. In interpreting any provision of this policy,this policy shall be construed as a whole. (b) In the event of any litigation, including litigation by the Company or with (b) Any claim of loss or damage, whether or not based on negligence, and the Company's consent, the Company shall have no liability for loss or damage which arises out of the status of the title to the estate or interest covered hereby or until there has been a final determination by a court of competent jurisdiction,and by any action asserting such claim,shall be restricted to this policy. disposition of all appeals therefrom,adverse to the title as insured. (c) No amendment of or endorsement to this policy can be made except by a (c) The Company shall not be liable for loss or damage to any insured for writing endorsed hereon or attached hereto signed by either the President,a Vice liability voluntarily assumed by the insured in settling any claim or suit without the President,the Secretary,an Assistant Secretary,or validating officer or authorized prior written consent of the Company. signatory of the Company. 10. REDUCTION OF INSURANCE:REDUCTION OR TERMINATION OF 16. SEVERABILITY. LIABILITY. In the event any provision of this policy is held invalid or unenforceable under All payments under this policy, except payments made for costs, attorneys' applicable law, the policy shall be deemed not to include that provision and all fees and expenses,shall reduce the amount of the insurance pro tanto. other provisions shall remain in full force and effect. 11. LIABILITY NONCUMULATIVE. 17. NOTICES,WHERE SENT. It is expressly understood that the amount of insurance under this policy shall All notices required to be given the Company and any statement in writing be reduced by any amount the Company may pay under any policy insuring a required to be furnished the Company shall include the number of this policy and mortgage to which exception is taken in Schedule B or to which the insured has shall be addressed to the Company at 1201 Third Avenue,Suite 3800,Seattle,WA agreed, assumed, or taken subject, or which is hereafter executed by an insured 98101. and which is a charge or lien on the estate or interest described or referred to in Schedule A,and the amount so paid shall be deemed a payment under this policy to the insured owner. ALTA OWNER'S POLICY—10-17-92 N C O D) n N N (� (0 CD cpc b O C G 7 O 0 00 1 O O �y �V y w Z 0 03/ PROPERTY ACQUISITION OR SALE CHECKLIST PERMANENT FILE DOCUMENTATION FOR: CITY CLERK DIVISION DATE: -3/1 /00 STAFF NAME & EXTENSION NUMBER: S- City is buyer or seller? Number of acres'or S.F. If City is seller, list approx. date of original acquisition by City: Property address �� ��`'i'1 j y S► jVl t6y) ► W k Mb ,D Nearest cross streets: Date of Council/EXecutiv6 approval: Purpose of acquisition or sale: Other file numbers, document names or key words for cross- referencing: K.C. Parcel I.D#(s) (09 (P(:)®d d � Documents to forward to City Clerk Divn. check off items-, or mark N/A Document Original Copy _Purchase and Sale Agreement Addendum to Purchase & Sale Agreement Owner's Title Policy Correspondence for Permanent File/Minutes Closing Statement Recorded Deed (orig. only) Other Other DOCUMENTS MAY BE SUBMITTED TO CC OFFICE IN PHASES, AS NECESSARY. CHECKLIST ORIGINAL MUST BE COMPLETED AND SUBMITTED TO CC OFFICE BY COMPLETION OF TRANSACTION. ------------------------------------------------------------------------------------------------------------- For City Clerk Division Use: Add to file: Copy of Minutes, Ordinances, & Resolutions applicable Index cross references as necessary Reference: Policy& Procedure #100-I1 & #100-12 FILE NO. AC- 0-031 lose *40W REAL ESTATE PURCHASE AND SALE AGREEMENT THIS AGREEMENT is between Alvin John Yokel, John C. Grimm, Jr., David W. Grimm, Gary L. Grimm, Lorraine G. Jasper and Kristi Lee Grimm, as their respective separate estates, d/b/a Grimm, Bloomdahl and Associates, ("Seller") and the City of Renton, a municipal corporation, ("Purchaser"), and is made for the purpose of purchase and sale of the following described real property. This agreement is entered into under threat by the City of Renton to use its eminent domain powers to acquire the premises located at 204 Logan Avenue South, Renton, Washington 98055. In consideration of the covenants and agreements hereinafter made,the parties agree as follows: 1. Description of Prope : Purchaser agrees to purchase from Seller, and Seller agrees to sell unto Purchaser, the following described real property commonly known as 204 Logan Avenue South, Renton, King County, Washington,and referred to in this Agreement as "the premises": Lot 8, Block 2, Motor Line Addition to Renton, according to the plat thereof recorded in Volume 9 of Plats,page 50, in King County, Washington. Purchaser hereby authorizes the insertion over his signature of the correct legal description of the above-designated property if unavailable at time of signing, or to correct the legal description previously entered. 2. Purchase Price: The purchase price is Ninety Thousand Dollars and No Cents ($90,000.00),payable in cash, to be paid at time of closing. 3. Title: Title to the premises shall be free of encumbrances or defects except encumbrances, restrictions and reservations of record. Rights reserved in Federal Patents or State Deeds, building or use restrictions general to the district, existing easements not inconsistent with the intended use of the restricted parcels, and building or zoning regulations or provisions shall not be deemed encumbrances or defects. Seller agrees to furnish and deliver to Purchaser a standard form of policy of title insurance, and as soon as practicable prior to closing, a preliminary commitment therefor, issued by Pacific Northwest Title Insurance Company. The title policy to be issued shall contain no exceptions other than those provided in the standard form plus the encumbrances or defects noted in this PURCHASE AND SALE AGREEMENT Page - 1 wrr W.rr paragraph. If title is not so insurable as above provided and cannot be made so insurable by the termination date set forth herein,this Agreement shall be terminated. 4. Conveyance: Transfer of Seller's interest in the premises shall be by Statutory Warranty Deed. 5. Prorations: Taxes for the current year, rents, insurance, interest, mortgage reserves, water and other utilities constituting liens on the property shall be prorated as of date of closing. 6. Cly: This purchase shall be closed in the office of Warren, Barber, Dean & Fontes, P.S., Attorneys at Law, within 30 days after removal of all contingencies, but in any event not later than December 31, 1999, which shall be the termination date. The parties will deposit in escrow with the closing agent all instruments and moneys necessary to complete this purchase in accordance with this Agreement. The Seller agrees to pay up to but not more than the sum of Five Hundred Dollars ($500.00)towards the costs of closing this transaction. 7. Possession: Seller shall deliver possession to Purchaser on date of closing 8. Condition of Property: The Purchaser has inspected the premises and agrees to accept the premises AS IS in its present condition, on the terms noted herein. Purchaser acknowledges that Seller is making no representations or warranties, expressed or implied, about the condition of the premises, and that the sale thereof will be strictly "AS IS". SELLER EXPRESSLY DISCLAIMS ALL WARRANTIES AS TO THE PREMISES, EXPRESS OR IMPLIED, OR OF FITNESS FOR A PARTICULAR PURPOSE. 9. Miscellaneous: There are no verbal or other agreements that modify or affect this Agreement. Time is of the essence of this Agreement. Purchaser has not consulted with,nor discovered the respective parcels through the use of a realtor or other agent and there are no finder's fees or commissions due upon this transaction. Facsimile transmission of any signed original document, and retransmission of any signed facsimile transmission, shall be the same as transmission of an original. At the request of either parry, or the Closing Agent,the parties will confirm facsimile transmitted signatures by signing an original document. Notices given under this Agreement shall be in writing and shall be delivered personally with written receipt therefor, or sent by certified mail, return receipt requested, to the following addresses: PURCHASE AND SALE AGREEMENT Page - 2 Purchaser: Sue Carlson City of Renton EDNSP Administrator 1055 South Grady Way Renton, WA 98055 10. Residency of Seller. Seller warrants to Escrow Agent that if Seller is an individual, Seller is not a non-resident alien for purposes of U.S. income taxation or if Seller is a corporation, partnership, trust, or estate, Seller is not a foreign corporation, foreign partnership, foreign trust or foreign estate. DATED: Seller: Purchaser; GRIMM, BLOOMDAHL CITY OF RENTON AND ASSOCIATES By: By: Alvin John Yokel Mayor Jesse Tanner By: ATTEST: John C. Grimm, Jr. By: David W. Grimm By: Gary L. Grimm By: Lorraine G. Jasper By: Kristi Lee Grimm PURCHASE AND SALE AGREEMENT Page - 3 Seller: Purchaser: Sue Carlson City of Renton EDNSP Administrator 1055 South Grady Way Renton, WA 98055 10. Residency of Seller. Seller warrants to Escrow Agent that if Seller is an individual, Seller is not a non-resident alien for purposes of U.S. income taxation or if Seller is a corporation, partnership, trust, or estate, Seller is not a foreign corporation, foreign partnership, foreign trust or foreign estate. DATED: - 2 , - c,n U Seller: Purchaser: GRIMM,BLOOMDAHL CITY OF RENTON AND ASSOCIATES By: z`'I By: Alvin John Yokel Mayor Jesse Tanner By: ATTEST: John C. Grimm, Jr. By: David W. Grimm By: Gary L. Grimm By: Lorraine G. Jasper By: Kristi Lee Grimm PURCHASE AND SALE AGREEMENT Page - 3 VOW �✓ Seller: Pnrchaser: Sue Carlson City of Renton EDNSP Administrator 1055 South Grady Way Renton, WA 98055 10. Residency of of Seller. Seller warrants to Escrow Agent that if Seller is an individual, Seller is not a non-resident alien for purposes of U.S. income taxation or if Seller is a corporation, partnership, trust, or estate, Seller is not a foreign corporation, foreign partnership, foreign trust or foreign estate. DATED: V hlc Sel ler: Purchaser; GRIMM,BLOOMDAHL CITY OF RENTON AND ASSOCIATES By: By: lvi J hn Y el Mayor Jesse Tanner By ATTEST: JW C. Grimm,Jr. By: David W. Grimm By: Gary L. Grimm By: Lorraine G. Jasper By: Kristi Lee Grimm PURCHASE AND SALE AGREEMENT Page - 3 a4,r "V; S�lles: Purchaser: Sue Carlson City of Renton EDNSP Administrator 1055 South Grady Way Renton, WA 98055 10. R sici .n v of Seller. Seller warrants to Escrow Agent that if Seller is an individual, Seller is not a non-resident alien for purposes of U.S. income taxation or if Seller is a corporation, partnership, trust, or estate, Seller is not a foreign corporation, foreign partnership, foreign trust or foreign estate. DATED: 11er: Purchas,er: GRIMM, BLOOMDAHL CITY OF RENTON AND ASSOCIATES By: By: Alvin John Yokel Mayor Jesse Tanner By: ATTEST: John C. Grimm,Jr. By David W. mm By: Gary L. Grimm By: Lorraine G. Jasper By: Kristi Lee Grimm PURCHASE AND SALE AGREEMENT Page - 3 *4w Wr' Purchaser: Sue Carlson City of Renton EDNSP Administrator 1055 South Grady Way Renton, WA 98055 10. Residency of Seller. Seller warrants to Escrow Agent that if Seller is an individual, Seller is not a non-resident alien for purposes of U.S. income taxation or if Seller is a corporation, partnership, trust, or estate, Seller is not a foreign corporation, foreign partnership, foreign trust or foreign estate. DATED: ,� �� Sel ler: Purchaser: GRIMM, BLOOMDAHL CITY OF RENTON AND ASSOCIATES By: By: Alvin John Yokel Mayor Jesse Tanner By: ATTEST: John C. Grimm, Jr. By: David W. Grimm By: Gary L! By: Lorraine G. Jasper By: Kristi Lee Grimm PURCHASE AND SALE AGREEMENT Page - 3 r , \/i SelleL: Purchaser: Sue Carlson City of Renton EDNSP Administrator 1055 South Grady Way Renton, WA 98055 10. Residency of Seller, Seller warrants to Escrow Agent that if Seller is an individual, Seller is not a non-resident alien for purposes of U.S. income taxation or if Seller is a corporation, partnership, trust, or estate, Seller is not a foreign corporation, foreign partnership, foreign trust or foreign estate. DATED: Sellex: Purchaser: GRIMM, BLOOMDAHL CITY OF RENTON AND ASSOCIATES By: By: Alvin John Yokel Mayor Jesse Tanner By: ATTEST: John C. Grimm, Jr. By: David W. Grimm By: ✓z- Gary L. Grimm d By• Lo G. Jasper By: ) Kristi Lee Grimm / PURCHASE AND SALE AGREEMENT Page - 3 Now A%110� Seller: Purchaser: Sue Carlson City of Renton EDNSP Administrator 1055 South Grady Way Renton, WA 98055 10. Residency of Seller. Seller warrants to Escrow Agent that if Seller is an individual, Seller is not a non-resident alien for purposes of U.S. income taxation or if Seller is a corporation, partnership, trust, or estate, Seller is not a foreign corporation, foreign partnership, foreign trust or foreign estate. DATED: Seller: Purchase GRIMM, BLOOMDAHL CITY OF RENTON AND ASSOCIATES By: Bv: Alvin John Yokel Mayor Jesse Tanner By: ATTEST: John C. Grimm, Jr. By: David W. Grimm By: Gary L. Grimm By: Lorraine G. Jasper By: 01 �s Kristi Lee Grimm PURCHASE AND SALE AGREEMENT Page - 3 19991230000543 PAGE 001 OF 005 PACIFIC NW TI IGOUT1025 After recording return to: 12.00KNCONyWA WARREN, BARBER, DEAN & FONTES, P.S. P.O. BOX 626 RENTON, WASHINGTON 98057-0626 E1729791 12/30/1999 09:44 KING COUNTY, WA SALE 32 .00 30.00 PAGE 001 OF 001 DOCUMENT TITLE: Statutory Warranty Deed REFERENCE NUMBER OF RELATED DOCUMENT: N/A GRANTOR(S): Yokel,Alvin John, Grimm,Jr., John C., Grimm,David W., Grimm, Gary L., Jasper, Lorraine G. and Grimm, Kristi Lee ADDITIONAL GRANTOR(S) ON PAGE: 1 �q/ c-) GRANTEE(S): City of Renton, a Washington municipal corporation ADDITIONAL GRANTEE(S) ON PAGE: N/A ABBREVIATED LEGAL DESCRIPTION: Lot 8, Block 2, Motor Line Add. to Renton, Vol. 9, ADDITIONAL LEGAL DESCRIPTION ON PAGE(S): 1 FILED BY P N W T Cy ASSESSOR'S TAX PARCEL NUMBER(S): 5696000085 C�b — <- STATUTORY WARRANTY DEED Alvin John Yokel, John C. Grimm,Jr., David W. Grimm, Gary L. Grimm, Lorraine G. Jasper and Kristi Lee Grimm, as their respective separate estates,d/b/a Grimm,Bloomdahl and Associates, for and in consideration of Ten Dollars ($10) and other good and valuable consideration in hand paid and under threat of eminent domain, convey and warrant to City of Renton, a Washington municipal corporation,the following described real estate, situated in King County, State of Washington: Lot 8, Block 2, Motor Line Addition to Renton, according to the plat thereof recorded in Volume 9 of Plats,page 50, in King County, Washington. Dated this day of !D e 'e-'- o C�F C. 101vjZ(r oke C. Grimm, Jr. STATUTORY WARRANTY DEED - 1 z 040 s- David W. Grimm Gary L. G i , Lo aine G. Jasper j Kristi Lee Grimm STATE OF WASHINGTON ) .je',_...- ) ss COUNTY O M��, ) f, I certify that I kr�A or have satisfactory evidence that Alvin John Yokel is the person who appeared before me, and who signed this instrument and acknowledged it to be his free and voluntary act for the uses and purposes mentioned in the instrument. CD c? DATED this ay of C�J a-- ,,��/f1/fJfJJJ, �.���v�A BER '•., 'Y>'1LL� �o�jSSlO�yti.C ,'�,. Notary blic t- C N07Ai� .'2 = in and for the State of Washi ton. p* My appointment expires: VP %..,. STATUTORY WARRANTY WARRANTY DEED - 2 **Vol STATE OF WASHINGTON ) YVL- Aou-, ) ss COUNTY OF*pie ) I certify that I know or have satisfactory evidence that John C. Grimm, Jr., is the person who appeared before me, and who signed this instrument and acknowledged it to be his free and voluntary act for the uses and purposes mentioned in the instrument. DATED this vll'day of T�fpjala_ — 'OU ES �, W4 +��T•At�'•,� ' Notary Public A1 1 u 70+��'��� �� in and for the State of Washington. £ �> .%z.$ PUB %1 '� o`s My appointment expires: 5-Iq-Q`3 Q)'. a.1'��:'`v F •.......** N �r�� \,�0•. STATE OF WASHINGTON ) L ) ss COUNTY OF-Rf?46 PLQ1?L�Q.; ) I certify that I know or have satisfactory evidence that David W. Grimm is the person who appeared before me, and who signed this instrument and acknowledged it to be his free and voluntary act for the uses and purposes mentioned in the instrument. Cy CD CC C DATED this gj'�day of j 1 �• m Q .t,,,, Notary Public 2 0, 00 in and for the State of Washington. p' '�Sid* '%'V' My appointment expires: CI �Q ss fE Ze .• y`..5�1�+Qb. ���'-• ....•••'fit• `F�wAsr� STATUTORY WARRANTY DEED - 3 7 CITY OF RENTON, WASHINGTON ORDINANCE NO. 4 7 8 7 AN ORDINANCE OF THE CITY OF RENTON, WASHINGTON, AUTHORIZING THE ACQUISITION OF CERTAIN PROPERTY AND PROPERTY RIGHTS BY EMINENT DOMAIN AND PROVIDING FOR THE PAYMENT THEREOF; AUTHORIZING THE CITY ATTORNEY TO PREPARE A PETITION FOR CONDEMNATION IN THE SUPERIOR COURT IN AND FOR THE COUNTY OF KING AND FOR THE PROSECUTION THEREOF FOR THE ACQUISITION OF SUCH PROPERTY AND PROPERTY RIGHTS FOR THE PURPOSE OF PUBLIC PARKING (WILLIAMS/HIATT AND JASPER PARCELS). THE CITY COUNCIL OF THE CITY OF RENTON, WASHINGTON DO ORDAIN AS FOLLOWS: SECTION I. The City Council finds acquisition of the following described property and property rights is necessary and for a public purpose and use, i.e. parking. The properties to be acquired are legally described as: Lots 8, 9, 10, and 11, Block 2, Motor Line Addition to Renton according to the Plat thereof recorded in Volume 9 of Plats, Page 50, records of King County, Washington. All situate in Section 18, Township 23 North, Range 5 East, W.M. The City of Renton is authorized by the laws and statutes of the state of Washington to appropriate lands and property rights through the exercise of its right of eminent domain within its corporate limits necessary for the above-stated purpose. SECTION II. The City Attorney is hereby authorized and directed to commence condemnation proceedings against the owners and all other parties in interest in the above described lands and improvements, if any, as provided by law; to prepare the necessary petition for condemnation; to commence and prosecute such action in the Superior Court in and for the County of King against all the owners and interested parties in the hereinabove described property; and to acquire the aforedescribed property and property rights for the City of Renton. 1 ORDINANCE NO. 4 7 8 7 Such proceedings shall be to determine the just compensation for the appropriation of such property and property rights by the City of Renton. SECTION III. This parcel is located on South Second Street between Burnett Avenue South and Logan Avenue South. SECTION IV. The compensation for the acquisition of said property and property rights shall be from the City of Renton's General Fund. SECTION V. Nothing in this ordinance shall be construed as a waiver by the City of Renton of its right to decline to take and pay for said property and property rights after the amount of just compensation has been ascertained, and within the time allowed by law. SECTION VI. This ordinance shall be effective upon its passage, approval, and five days after its publication. PASSED BY THE CITY COUNCIL this 12 t h day of July , 1999. Marilyn J. et en, City Clerk APPROVED BY THE MAYOR this 12th day of July , 1999. JessManner, Mayor Approved form: � Lawrence J. Warren, City Attorney Date of Publication: July 16 , 1999 (summary) ORD.812:6/17/99:as. 2 %woe ORDINANCE NO. 4787 Exhibit A _ Legal Description Lots 8, 9, 10 and 11, Block 2, Motor Line Addition to Renton according to the Plat thereof recorded in Volume 9 of Plats, Page 50, records if King County, Washington. All situate in Section 18, Township 23 North, Range 5 East, W.M.. Williams Condemnation Legal 1/5/99 tgb ORDINANCE NO. 4787 C O S Second St cn > N Q Q� L m > Q' Q N N I L L N WILLIAMSMIATT AND JASPER ACQUISITIONS Technical Services 0 200 400 Planning/Building/Public Works e■, R. MacOnie, D. Visneski T 4 January 1999 1 :2400 wry' CITY OF RENMN MAR 0 2 2000 PROPERTY ACQUISITION OR SALE CHECKLIST PERMANENT FILE DOCUMENTATION CITY CLERK'S OFFICE FOR: CITY CLERK DIVISION DATE: .1;,1 /00 STAFF NAME & EXTENSION NUMBER: City is buyer or seller? 1 Number of acres or S.F. If City is seller, list approx. date of original acquisition by City: Property address Av( 'S W A-- CJS Nearest cross streets: Date of Council/Executive approval: Purpose of acquisition or sale: �� y`". Other file numbers, document names or key words for cross- referencing: K.C. Parcel I.D#(s) �p OC�OOgf7 Documents to forward to City Clerk Divn. check off items• or mark N/A Document Original Copy Purchase and Sale Agreement Addendum to Purchase & Sale Agreement Owner's Title Policy Correspondence for Permanent File/Minutes Closing Statement _Recorded Deed _ (orig. only) Other Other DOCUMENTS MAY BE SUBMITTED TO CC OFFICE IN PHASES, AS NECESSARY. CHECKLIST ORIGINAL MUST BE COMPLETED AND SUBMITTED TO CC OFFICE BY COMPLETION OF TRANSACTION. ------------------------------------------------------------------------------------------------------------- For City Clerk Division Use: Add to file: Copy of Minutes, Ordinances, & Resolutions applicable Index cross references as necessary FILE NO. AC- PROPERTY ACQUISITION OR SALE CHECKLIST PERMANENT FILE DOCUMENTATION FOR: CITY CLERK DIVISION DATE: STAFF NAME &EXTENSION NUMBER: City is buyer or seller? Number of acres or S.F. If City is seller, list approx. date of original acquisition by City: Property address LffAAjA 6XS U)/j— q MS Nearest cross streets: j Date of Council/Executive approval: Y' 7 7 /a- Purpose of acquisition or sale: Other file numbers, document names or key words for cross- referencing: K.C. Parcel I.D#(s) Sbq(17 QC)Od eS Documents to forward to 01y Clerk Divn. check off items; or mark N/A Document Original Copy Purchase and Sale Agreement Addendum to Purchase & Sale Agreement Owner's Title Policy Correspondence for Permanent File/Minutes _Closing Statement(�� �vL5;jYU Chf'yL,0 Recorded Deed (orig. only) Other Other DOCUMENTS MAY BE SUBMITTED TO CC OFFICE IN PHASES, AS NECESSARY. CHECKLIST ORIGINAL MUST BE COMPLETED AND SUBMITTED TO CC OFFICE BY COMPLETION OF TRANSACTION. ------------------------------------------------------------------------------------------------------------- For City Clerk Division Use: Add to file: Copy of Minutes, Ordinances, &Resolutions applicable Index cross references as necessary FILE NO. AC- ESCROW INSTRUCTIONS YOKEL, GRIMM, GRIMM, GRIMM, JASPER AND GRIMM, D/B/A GRIMM, BLOOMDAHL AND ASSOCIATES TO CITY OF RENTON Property Address: 204 Logan Avenue South Renton,WA 98055 TO: Warren,Barber, Dean &Fontes,P.S., Attorneys at Law: 1. PURCHASE AGREEMENTS: The undersigned appoint you as escrow agent for the closing of the above-mentioned real estate transaction in accordance with the terms and conditions of a Purchase Agreement ("Agreement") dated , between the undersigned Seller and Purchaser. The Agreement, and legal description therein (including future corrections thereto) are incorporated herein by reference. To the extent that any terms of that Agreement are inconsistent herewith, they are amended to conform to the terms of these Escrow Instructions. 2. INSTRUMENTS: The undersigned deposits with you the amounts necessary to close as set forth in the attached Real Estate Transaction Closing Statements ("Closing Statement"), together with necessary conveyancing and security instruments, which funds and instruments you are authorized to use when all parties have approved these instructions, and you hold for the account of the Purchaser the appropriate conveyancing instrument, and for the account of the Seller the appropriate promissory notes and/or security instruments and funds, all as set forth in the Agreement. From the sums deposited by the parties, you are authorized to deduct the charges as set forth in the attached Closing Statements. 3. TITLE INSURANCE: .1 General Information: The undersigned acknowledge that they understand that there are several different types of policies of title insurance, all of which can be issued with various endorsements which expand, explain or modify the policy coverage or insure against special risks. The two major types of coverage are Standard Coverage Policy and Extended Coverage Policy. ESCROW INSTRUCTIONS- I A Standard Coverage Policy has general exceptions which are contained in Schedule "B". For the most part these relate to off-record matters, such as encroachments or questions of location, boundary and area which an accurate survey would disclose, public or private easements not disclosed of record, rights of persons in possession of the property, material or labor liens, water rights, utility charges,etc. An Extended Coverage Policy will generally not include some or all of the Schedule "B" exceptions noted above. However, the Extended Coverage Policy will cost approximately 30% more than the Standard Coverage Policy. In addition the title insurer may require a survey of the boundaries of the property and the improvements located thereon if the title insurer's inspection of the property leaves any doubt with regard to encroachments or boundary disputes. Thus, there would be additional expense and delay caused by the survey. The undersigned have heretofore agreed that the Seller will provide a Standard Coverage Policy at the expense of the Seller. The undersigned confirm that agreement. If the undersigned desire to modify their prior agreement with respect to the type of title insurance policy, we will notify you in writing of the change so that the proper title insurance coverage can be secured. .2 Owner's Policy. You are instructed to, on behalf of the Seller, order from Pacific Northwest Title Insurance Company, a preliminary commitment for an Owner's standard form policy of title insurance in the face amount of Ninety Thousand Dollars and No Cents ($90,000.00). .3 Reliance. You are entitled to rely upon the preliminary commitment, and have no obligation to make any independent search of public records, or inquiry of any persons, including the Seller, Purchaser and Broker. 4. ESCROW FEE: Your escrow fee in the total sum of Six Hundred Fifty Dollars and No Cents ($650.00) is intended as compensation for the ordinary services as contemplated by these instructions. In the event that the conditions of this escrow are not promptly fulfilled or that you render any service not provided for in these instructions, or in the event there shall be an assignment of the interest of any party to these instructions or any modification in these instructions, you shall be reasonably compensated for such extraordinary services and reimbursed for all costs and expenses occasioned by such action. 5. REPRESENTATION: Seller is aware that Warren, Barber, Dean & Fontes, P.S., Attorneys at Law, are acting as the attorneys for the Purchaser. Seller waives any potential conflict of interest that may arise by reason of that relationship. Seller is aware of their right to be represented by independent counsel of their own choice. 6. LIMITATIONS: YOU ARE TO HAVE NO LIABILITY OR RESPONSIBILITY WITH RESPECT TO ANY MATTERS CONNECTED WITH THE FOLLOWING: (a) Heating oil in tank, water, Metro and other utility charges which will be adjusted between the Seller and Purchaser outside of this escrow. ESCROW INSTRUCTIONS -2 (b) Requirements of the Consumer Protection Act, Truth In Lending Act, the Real Estate Settlement Procedures Act, Inter-State Land Sales Act, and any similar laws and regulations. (c) Personal property, or encumbrances thereon, including personal property taxes, matters relating to the Bulk Sales Act, sales taxes and instruments filed under the Uniform Commercial Code, which matters will be adjusted between the Seller and Purchaser outside of this escrow. (d) Forgeries or false personations of any person or party in connection with these instructions or this escrow generally. (e) Assessments, utility connection and any other charges which are not of record and disclosed in the preliminary commitment for title insurance, including omit taxes which may appear on future tax statements. Seller warrants to you and to the Purchaser that there are no recently completed, pending, or announced local improvements for streets, underground wiring, water, sewer, etc., chargeable or to become chargeable to the property. All such matters shall be adjusted between Seller and Purchaser outside of this escrow. (f) The accuracy or correctness of any representations or provisions in the Agreement, or otherwise made by the parties or Broker. (g) Insurance on the property. (1) Purchaser understands and acknowledges that it is Purchaser's responsibility to provide for fire and casualty insurance upon the premises commencing as of or prior to the closing date in order to protect Purchaser's interest in the property. (2) In the event that Seller is financing any portion of the purchase price, Purchaser agrees, on or before the closing date, to acquire and pay at least the first year's premium on a new fire and casualty insurance policy with extended coverage in an amount not less than the value of the improvements on the property, or as set forth in the Agreement. The policy shall, to the extent that there is any balance owed them, name the Seller and any other holders of security against the property as loss payees. Purchaser agrees to immediately deliver to Seller a copy of the policy. (3) Seller will maintain any present insurance on the property until closing, and will be free to thereupon cancel the same and retain any refund of unearned premium. (h) Rental or lease arrangements concerning the property, including accounting or pro- ration of rentals or transfer or accounting of tenant deposits. ESCROW INSTRUCTIONS - 3 '"rrrr' (i) The parties understand that you have not inspected the subject property and have no knowledge regarding; (1) The condition of the real property; (2) Whether or not any items of personal property referred to in the Agreement, if any, remain on the property or will remain on the property on delivery of possession to Purchaser; or (3) The presence on the real property, or in any improvements located thereon, of any asbestos-containing materials, polychlorinated biphenyls ("PCBs"), fuel and/or chemical storage tanks, drums and/or pipelines, liquid or solid wastes, pesticides, herbicides and/or other agricultural chemicals, or other substances or materials defined or designated as hazardous or toxic wastes, hazardous or toxic materials, a hazardous, toxic or radioactive substance, or other similar term, by any federal, state or local environmental statute, regulation, or ordinance, presently in effect, which materials are collectively referred to herein as "hazardous substances". The parties have specifically declined to secure a pre-acquisition assessment of the property to ascertain whether any hazardous substances are present on the property, or on any adjacent or nearby property. The Purchaser acknowledges that they understand that they may be held liable for the cost of cleanup or other remediation of any hazardous substances which may be hereafter discovered to be present on the property, together with costs of response by environmental agencies, and other damages to the environment, in the event that the Purchaser fails to make due and diligent inquiry into the environmental condition of the property prior to acquisition thereof. (j) You shall not be responsible for the transfer of possession of the real and personal property from Seller to Purchaser. All arrangements concerning such transfer shall be made directly between such parties. (k) You shall have no obligation or responsibility to check on, verify or obtain any information with respect to determining (or if any information is so obtained, you shall have no liability with respect to determining): (1) Whether or not any Note and/or Mortgage, Deed of Trust, or Real Estate Contract against the property permits the holder to raise the interest rate and/or declare the entire balance due in the event of sale, or requires consent to sale of the property. (2) Any balance owed by Seller on Lienable Condominium or Homeowner's Association dues or charges. ESCROW INSTRUCTIONS-4 *41W"` v000, Seller warrants to Buyer that all Condominium or Homeowner's Association dues or charges are paid current. You have advised us to have this information reviewed by our own attorney. (1) Encroachments or questions of location, boundary and area, which an accurate survey may disclose. Each party specifically declines to obtain a survey of the premises which would disclose any such matters. (m) Public or private easements, streets, roads, alleys or highways, unless disclosed of record by recorded plat or conveyance, or decree of a court of record. (n) Exceptions and reservations in United States Patents. (o) Rights or claims of persons in possession, or claiming to be in possession, not disclosed by the public records. (p) Material or labor liens, or liens under the Workmen's Compensation Act not disclosed by the public records. (q) Water rights or matters relating thereto. (r) Any service, installation or construction charges for sewer, water, electricity, or garbage removal. (s) General taxes not now payable; matters relating to special assessments and special levies,if any,preceding the same becoming a lien. (t) Right of use, control or regulation by the United States of America, in the exercise of powers over navigation. (u) Any prohibition or limitation on the use, occupancy or improvement of the land resulting from the rights of the public or riparian owners to use any waters which may cover the land. (v) Zoning (present or potential) of the property, and the legality or propriety of the Purchaser's proposed use of the property under existing land use codes. 7. MISCELLANEOUS: .1 A copy of the Closing Statement and other instruments may be delivered to any broker involved in the transaction, as well as to mortgagees or holders of other liens, and to attorneys representing any of the parties. You are authorized, but not required, to notify prior lien holders of the existence of any contract or other instrument securing all unpaid balances owed Seller by Purchaser. ESCROW INSTRUCTIONS-5 low* .2 These instruments are complete, and there are no oral or other agreements which modify or affect the same. Any future amendments or supplements to these instructions must be in writing, and delivered to you,before they shall be effective. .3 All notices and correspondence may be mailed or delivered to the parties at the addresses shown below. You shall have no liability for any loss or delay involved in mailing any instruments or monies. .4 The term "closing" is susceptible to several meanings. Generally, it means the time at which the Seller delivers title to the Purchaser in exchange for the purchase price. Normally, closing does not occur when the parties execute the legal documents at the closing agent's office or when the Purchaser delivers all or part of the purchase price to the closing agent but may be delayed several days until the documents and funds have been processed. 8. TERMINATION: If you are unable to comply with these instructions, or are, in your sole opinion, unable or unwilling to close this sale in the manner provided in the Agreement, then you will so notify the Seller and Purchaser in writing. If neither party has filed any objection within ten (10) days after receipt of such notice,then you are instructed to return all instruments and monies to the party who signed the same or paid the money to you. Thereupon, you are, without the necessity of further concurrence or instruments from either of the parties, released from all liability in respect to this escrow. If within said ten (10) days, either of the parties objects to the return of the instruments or monies, or transfer to another closing agent, you are authorized, in your discretion, to either hold the same until agreement is reached, or to interplead the same with the Superior Court, at the expense of the parties. Any monies returned to the parties shall be less any expenditures which you have made on their behalf prior thereto, including, but not limited to, any title insurance cancellation fee and your full escrow fee. 9. CLOSING STATEMENT: The attached closing statement has been reviewed and is approved by the parties. Dated: Seller: Purchaser: CITY OF RENTON By: Alvin John Yokel Mayor Jesse Tanner Soc. Sec. No.X3�,L 7 Sb ATTEST: <: J An C. Grimm,Jr. Soc. Sec. No�3S-3�~�S 38 ESCROW INSTRUCTIONS-6 J David W. Grimm Soc. Sec. N(:5 Gary L.4rijim Soc. Sec. Vo. 5307-54>-932y jLaine G. Jas er f Soc. Sec. No. 3`�J r Z �P Kristi Lee Grimm Soc. Sec. ESCROW INSTRUCTIONS -7 ESTIMATED SELLER'S REAL ESTATE TRANSACTION CLOSING STATEMENT YOKEL, GRIMM, GRIMM, GRIMM,JASPER AND GRIMM,D/B/A GRIMM,BLOOMDAHL AND ASSOCIATES TO CITY OF RENTON Property Address: 204 Logan Avenue South Renton,WA 98055 Closing Date: December -91' , 1999 C �� ` DESCRIPTION CHARGES CREDITS I s Price 90,000.00 Delinquent Real Estate Taxes penalties and Interest Second 351.86 Half 1999: Real Estate Taxes prorated as of 12/20/99: 21.23 Title Insurance Premium inc. Sales Tax 553.86 One Half Escrow fee: 325.00 Credit for difference between actual closing costs and 378.86 Seller's $500 contribution to closing costs: Wire transfer fee: 15.00 Check to Seller: $89,154.37 89,154.37 To be wired to Key Bank under account for Grimm, Bloomdahl and Associates Extended Totals 90,400.09 90,400.09 ESCROW INSTRUCTIONS-8 ESTIMATED PURCHASER'S REAL ESTATE TRANSACTION CLOSING STATEMENT YOKEL, GRIMM, GRIMM, GRIMIVI,JASPER AND GRIMM, D/B/A GRIMM,BLOOMDAHL AND ASSOCIATES TO CITY OF RENTON Property Address: 204 Logan Avenue South Renton,WA 98055 Closing Date: December �9 , 1999 DESCRIPTION CHARGES CREDITS Sales Price 90,000.00 Current Real Estate Taxes 21.23 Pro-rated as of 12/20/99. Recording/Reconveyance Fees (est.) 12.45 Escrow Fee (one-half) 325.00 Charge for difference between Seller's $500 contribution to 378.86 closing costs and actual closing costs: Check from Purchaser to Close: $ 90,737.54 90,737.54 Extended Totals 90,737.54 90,737.54 ESCROW INSTRUCTIONS-9 •..F PAYOR'S REQUEST FOR TAXPAYER IDENTIFICATION NUMBER ESCROW NO. 175-089 DATE OF CLOSING: 12/20/99 PROPERTY ADDRESS: 204 Logan Avenue South Renton,WA 98055 Are you selling or refinancing the above property? Selling_X_ Refinancing Is this property your primary residence? Yes No X Are you a United States Citizen? Yes_X_ No SELLER/REFINANCING INFORMATION: Yokel, Alvin John ,333 S� 101 �V (Suet Address) �. 'jsLd &,- J4 (City, State,ZIP) ` 6 2 7 — b 7 2 ,,P-- (Phone No.) 5 3 3D 5 0 5 0 (Social Security No. or Taxpayer ID) Grimm, Jr.,John C. %ZZ2 6�7 �K (Street Address) f:ZK( UA !2kyo Y (City, State,ZIP) (Phone No.) (Social Security No. or Taxpayer ID) ESCROW INSTRUCTIONS - 10 .� v.r *..r'' Grimm, David W. ?ZZ. 9-2! r/ •L�1'.�r- (Street Address) �en'900 dot 0d �y�Qy (Ci T� 9 (City, State,ZIP) 0 '91-`71— (Phone No.) �" 5/0 —J'7d 61-0 (Social Security No. or Taxpayer ID) Grimm, Gary L. eapaj (Street Address) (City, State, ZIP) o?li3_ 53-�' 711 r (Phone No.) 57 3 1' ��" �i3 2- (Social Security No. or Taxpayer ID) Jasper, Lorraine G. �p// 5 U J& iE.(Street Address) (City, State,ZIP) LS3 '81/7 45q (Phone No.) (Social Security No. or Taxpayer ID) Grimm, Kristi 2Lee � U�I �J k So (Street FAddress) "Lima UQqs� . �_,City, State,ZIP) (2E&5UTS- 4� (Phone No.) 6 q (Social Security No. or Taxpayer ID) ESCROW INSTRUCTIONS- 1 I ,%N..> CERTIFICATION: Under the penalties of perjury, I certify that the information provided above is true, correct and complete. Alvin ohn Yokel n C. Grimm,Jr. Date: Date: /z/ /'/F David W. Grimm Gary L. Grimm} Date: Date: A L rraine G. Jasper Kristi Lee Gri L /.Z '-2-2— Date: V ESCROW INSTRUCTIONS- 12 POLICY OF TITLE INSURANCE ISSUED BY SUBJECT TO THE EXCLUSIONS FROM COVERAGE, THE EXCEPTIONS FROM COVERAGE CONTAINED IN SCHEDULE B AND THE CONDITIONS AND STIPULATIONS, PACIFIC NORTHWEST TITLE INSURANCE COMPANY, INC., a Washington corporation, herein called the Company, insures, as of Date of Policy shown in Schedule A, against loss or damage, not exceeding the Amount of Insurance stated in Schedule A, sustained or incurred by the insured by reason of: 1. Title to the estate or interest described in Schedule A being vested other than as stated therein; 2. Any defect in or lien or encumbrance on the title; 3. Unmarketability of the title; 4. Lack of a right of access to and from the land. The Company will also pay the costs, attorneys' fees and expenses incurred in defense of the title, as insured, but only to the extent provided in the Conditions and Stipulations. IN WITNESS WHEREOF, Pacific Northwest Title Insurance Company, Inc. has caused this policy to be signed and sealed by its duly authorized officers as of the Date of Policy shown in Schedule A. yet ► President PACIFIC NORTI IwFsT TITLE Countersigned by: r Insurance Company, Inc. 0 t 4th«E INSN94 Authorized Signatory `tr�F X LOB rt o SEAL.'i Company 1926,.+Z F ACIFIC NGS`,I HMST TITLL �gSNIN6tON Seattle, Washington City,State EXCLUSIONS FROM COVERAGE The following matters are expressly excluded from the coverage of this policy and the Company will not pay loss or damage,costs, attorneys'fees or expenses which arise by reason of: 1. (a) Any law, ordinance or governmental regulation (including but not limited to building and zoning laws, ordinances, or regulations) restricting, regulating, prohibiting or relating to (i)the occupancy, use, or enjoyment of the land; (ii)the character, dimensions or location of any improvement now or hereafter erected on the land;(iii)a separation in ownership or a change in the dimensions or area of the land or any parcel of which the land is or was a part;or(iv)environmental protection,or the effect of any violation of these laws,ordinances or governmental regulations,except to the extent that a notice of the enforcement thereof or a notice of a defect, lien or encumbrance resulting from a violation or alleged violation affecting the land has been recorded in the public records at Date of Policy. (b) Any governmental police power not excluded by(a)above,except to the extent that a notice of the exercise thereof or a notice of a defect, lien or encumbrance resulting from a violation or alleged violation affecting the land has been recorded in the public records at Date of Policy. 2. Rights of eminent domain unless notice of the exercise thereof has been recorded in the public records at Date of Policy,but not excluding from coverage any taking which has occurred prior to Date of Policy which would be binding on the rights of a purchaser for value without knowledge. 3. Defects, liens,encumbrances,adverse claims or other matters: (a) created,suffered,assumed or agreed to by the insured claimant; (b) not known to the Company,not recorded in the public records at Date of Policy, but known to the insured claimant and not disclosed in writing to the Company by the insured claimant prior to the date the insured claimant became an insured under this policy; (c) resulting in no loss or damage to the insured claimant; (d) attaching or created subsequent to Date of Policy;or (e) resulting in loss or damage which would not have been sustained if the insured claimant had paid value for the estate or interest insured by this policy. 0.1093- 78861 ALTA OWNER'S POLICY—10-17-92 (Aoilod si4l;o abed lsel uo popnjouoo pue penult') `slsoo Aue 141!m jay;a6o1'Ao!lod s!y1 japun 1su!e6e pajnsu!w!elo Aue juew!elo pajnsu! Auedwo a ajnsu!se`lsajalu!jo alelsa ayl of 914!1 a14114s!lgelsa of algej!sap jo up jo aweu aqj u!jo jol sa!jjed jay;o yl!M 91118s as!Mjaylo j0 Aed of (!) 41'P ljessaoau aq Aew uo!u!do sj!u!yo!ym toe jay;o j(ue op o;jo 6u!paa0ojd jo uo!l0e Aue quew!elO pajnsul 941 alnoasojd pue ajnjµsu!01';SOO uMo sl!le`jy61J ay;aAey Ileys Auedwoo a14l (q) 41!M jo pajnsul a4l ue43 A0410 sa!ljed 411M 911jeS es!mja41O jo Aed of (q) -%o!lod uo!jepaoueo jol (uedwoO ay;o;pajapu9jjns aq lleys (o!lod ay}pue'uoµe6!j!I Aue s!y;Aq 1su!e6e paansui lou sj9;jew aballe yo!14m uo!loe to sasneo asogj jo asualap anuguoo jo '91noosojd 'pualap of uo!1e6ygo jo (j!l!ge!l Aue bu!pnlou! ajeu!wjal ayj u! pajnsu! eqj Aq pajjnou!sasuadxa jo s;soo `seal Rue lied jou II!m Auedwoo Ile14s 'pajmbei juew(ed ayj 9�ew of ue14; jagjo '(o!lod s!yl japun pajnsu 9141 01 a141'lasunoo jayjo Aue jo seal aqj/ped lou II!m pue jol alge!l aq lou lle14s pue uo!}oe suo!le6!lgo pue!;!I!ge1l Ile'uo!;do s!141 jo AuedwoO a14j (q es!ojaxe a14j uodn 10 sasneo pa}els aso14j of se pajnsu!aqj luasajdaj of(asneo algeuose9j jol loafgo /ed of pa;e6!Igo s!AuedwoO ay;go!ym pue of paansu!ay;jo j146!j ay1 of;oafgns)ao!ogo sj!10 lasunoo;oalas of 11461]a141 aney juaw(ed jo japual jo juawAed;o aw!;ay;of do'Auedwoo a14l (q paz!jog1ne ajam Ile14s AuedwoO aqj 'Aulod s!y; Aq lsumbe pajnsui jallew jaylo jo aouejgwnoue yo!ym`luew!el0 pajnsu!ay;(q pajjn0u!sasuadxa pue seal,s(awolle';soo(ue y;!m jo ua!l `10,91ap a bu!6alle uo!loe jo sasneo palels asoyl o; se Aluo jnq 'pajnsu! jaylabol Ao!lod s!y1 japun eouejnsu!jo lunowe ay;jo juawAed japual jo/ped of se lsajalu!jo aµ!1 9141 of asjanpe w!e10 a s}jasse Aped pj!yj Aue yo!ym u!uo!;e6µ!l u! pajnsu! up 10 asu910p ay} jo; ap!nojd lleys 'Aelap algeuoseajun 1no1411M pue •eouejnsul;o junowV a4l jo luewAed japual jo ABd of (e) lsoo umo sl! je '(uedwoO aqj 'suo!lelnd!js pue suo!;!puoO asayl 10 g uo!1095 u! :suo!jdo leuoµ!ppe pou!eluoo suo!ldo aqj of loafgns pue pajnsu!ay1 Aq jsenbei uall!jm uodn (e) 6uM01101 914} aney lleys AuedwoO aqj `Ao!lod s!yl japun w!elo e jo aseo ul '31VH3d000 Ol LNVWIVlO 'AlIIIHVII O3unSNl d0 AlnO:SNO11OV AO NOI1nO3SOHd ONV 3SN3:13O 4 d0 NOIIVNIW1:131:SWIVIO 31113S 3SIM1i31-11O a0 AVd Ol SNOIldO '9 a0!pnfajd aq;jo lualxa ay;o;Aluo uayl pue w!elo;eyl 01 ajnl!el ay;Aq poo!pnfajd aq IIe14s AuedwoO a14j ssalun Ao!Iod s!y;japun pajnsu!Aue se!o!lod s!y1 japun/uedwoO eqj;o A1!I!ge!I Aue a;eu!wjal lleys ydej6ejed s!14j u! to s;y6!j aqj ao!pnfajd aseo ou u!lle14s/uedwoO eqj/;!lou of ajnl!ul jeyl'janaMoy paimbaj se sa!;jed pj!y1 wojl uo!jewjo;u!Ajessaoau/Igeuoseei ajnoas of uo!ss!wjad 'p9p!nojd 'paj!nbaj si ao!jou ldwojd yo!ym jol sjallew jo Jollew ay} 01 pje69j luejb jo uo!jewjolu!palsanbaj Rlgeuoseaj ja1410 aonpojd'yleo japun uo!leu!wexa jol yj!m ejeu!wjal lleys AuedwoO ay;10 Al!l!ge!l Ile pajnsu! aqj of se uagj '(uedwoO 1!wgns of juew!elo pajnsu!ayl jo eAnl!ej w!elo a14;jo uoµejls!u!wpe 9141 u!Alesse0au 9141 01 uan!b aq lou llegs oopou jdwojd 11 alge;aMjewun se pajoafaj s! `pajnsu!se s! j! 'Auedwoo ay}jo juawbpnf algeuoseaj ayl w 'ssolun sjagjo of pasolos!p aq jsgjajuj jo alelsa a14l of all!11!(!!!)jo'(o!lod s!14j jo an;j!n (q alge!l/ew Auedwoo lou lleys uo!joas s!141 0l juensjnd Auedwoo ay}01 p9p!nojd}uew!elo pajnsu!aqj Aq ayl 14o!14m jol a6ewep jo ssol asneo jy6!w go!ym pue'pajnsu!se'lsajeju!jo ojelse le!juap!luo0 se paleu6!sap uo!jewjoju!IIV abewep jo ssol eqj of u!eljad Algeuoseaj a14j 01 allµ941 01 asjanpe s!yo!14m lsajalu!jo opgjo w!elo Aue jo japunajay pajnsu! yo!14m '(lied pj!yl e jo Iojluoo jo Apo;sno eqj u!epuejowaw pue aouapuodsajjoo ue o;awoo Ileys gbpalmou!aseo u!(!!)`molaq(e)t7 uopoaS u!yljol las se uo!le6µ!l 's>oago sja5pal `s>ooq `spjooaj Ile (doo pue joadsu! 'eu!wexa o; AuedwoO a14; f(ue jo aseo u! (!) 6u!l!jm u! lµdwojd AuedwoO ay1 !j!jou Ile14s pajnsu! ayl 10 anpejuasajdaj pazuoy;ne/ue jol`6u!lum u!'uo!ss!wjad sl!1uejb lleys luew!elo '1NVWIVlO O3unSNl A8 N3AI!D 38 Ol WIV-13 dO 3O11ON '£ pajnsu!ay;'luedwoO 9yl 10 anpejuaseAdej paz!joyjne Aue (q palsanbaj;!'ja14ljn j a6ewep jo ssol ay}of u!e;jad/lgeuoseaj yo!ym`R0110d 10 ale0 Jelle jo ajolaq alep e -pajnsw ay}01 u9n!6 a6e6ljow (auow aseyojnd a Aq pajnoas 6ujeaq jaglagm'epuejowaw pue aouapuodsajjoo`S>oago'sja6pal`s!ooq'spjooaj sseupalgepu!ue(!!)jo puel ayl u!lsajalu!jo alelsa pue(!)j9141!a jo pajnsu!a14j woll Ile'Auedwoo ay}10 an!lejuasajdaj pazuoylne Aue (q pajeu6!sep aq AM se sooeld jaseyojnd!ue;o jone;u!aojol u!anu!luoo lou llsys Ao!lod s!14l-1sajeju!jO alelsa pus saw!l algeuoseaj yons le `bu!Adoo pue uo!joadsu! 'uogeu!wexa jot aonpojd ay;;o eouej(anuoO 10 jalsuej;Rus ui pajnsu! a141!q apew j(luej UM 10 sjueu9no3 Ileys pue luedwoO ay;10 an!;ejuasajdaj paz!joyjne (ue Aq g113o japun uo!jeu!wexa 10 uoseaj !q Al!I!ge!l aney Ile14s pajnsu! ay; se 6uol os Aluo jo 'pajnsu! ay; wjo; of 1!wgns of paj!nbaj aq /algeuoseaj /ew wew!elo pajnsu! a14j 'uo!j!ppe ul jaseyojnd e Aq uan!6 a6e6ljow Aauow aseyojnd a Aq pajnoas ssaupajgepu!up sploq a6ewep jo ssol 10 loojd yons 6unnbei sjallew jo jallew ay;o; jo'pue,ay;u!lsajalu!jo alelsa up su!ejej pajnsu!ay1 se 6uol os Aluo pajnsu!up jo pjebaj Llpm 1uo!le6!j!l Aue anu!;uoo jo'alnoasojd'pualap of uo!le6!lgo jo 1,1!1!ge!1 Aue j0ne;u!Ao!lOd 10 01130 10 se aojol u!anupuoo Ileys Ao!lod s!y1 jo a6ej8noo aqj bu!pnlou!`aleu!wja;Ileys (o!lod ay1 japun pajnsu!ay}of suo!le6!lgo s,AuedwoO ay1 '31111=10 3ONVAMNO0 EMAV 3ONVunSNI d0 NouvnNIlNOO 'Z 'abewep jo ssol jo loojd paj!nbaj 914;ap!nojd of juew!elo pajnsu!aq to ajnl!ej aqj (q pao!pnfajd s!AuedwoO eqj 11 abewep jo ssol ay1 jo lunowe aqj bu!lelnoleo jo s!seq 'ally olgelanijew ayj`elq!ssod lualxa ay}of 91els pegs pue a6ewep jo ssol 10 s!seq aqj salnjµsuoo jo Ajan!lap Gqj bu!j!nbei uo!j!puoo lenloejluoo a to en;j!n/q aseyojnd of uope6!lgo go!ym (o!lod s!14l Aq lsu!ebe pajnsu! jallew jayjo jo `allµ ay; uo aouejgwnoua ay;woj;pasealej aq of V alnpayoS u!paquosap lsajalu!jo alelsa ay110 jasegojnd Jo ua!l 10 'u! loalap aqj equosap Ileys abewep jo ssol to loojd ayl abewep a all!;ua pinom yo!yM `96ejanoo wojj pa;daoxe jo papnloxe you 'puel ay}o;alj!; jo ssol 9yl o;esu 6u!n!6 sloe;ay;u!ejjaose lle14s luew!elo pajnsu! 914;jalle sAep ay}6u!loolle jallew luejedde jo paballe up :,,ell!l aqj jo j!1!ge1a)!jewun„ (6) 06 u!yj!m luedwoO ay}of pags!ujnl aq lle14s;uew!elo pajnsu!ay;Aq of ujoms pue 10,9113001 s!puel ayl 14O!14m u!10!jls!p ay}jol pau6!s 96ewep jo ssol jo joojd u'Auedwoo ay}pap!nojd uaaq 9neq suo!jelnd!js pue µ!puoO asayj;o g uoµoaS japun paj!nboj sao!lou ayl J91}e pue o1 uo!;!ppe ul ljnoo lou;s!p sap l Pa;!un 9141 10 po ay}l0 spjooaj GLI,u! pa1!1 sue!' uoµ0al suo le;uawuoj!nua apn0u! osle Ileys „sjooaj 0!lgnd„ 'a6ej9noo wajJ suo!snl0x3 aqj ay; '3JVWVO HO SSOI dO dOOHd 'S 10(n!)(13)1 uo!1oaS of joadsaj 14j!M a6palmouM jnoy;!M pue anlen jol sjasegojnd 01 Aliedad leaf of 6u1jelaj sjallew 10 9O!lou anµonjlsuoo 6uµjedw!;o asodjnd ayl jo; uopejad000 yons bujmbaj sjallew jo Aoilod 10 aleO;e saln;els ejels japun pa14s!Igejsa spjooaj:,,spjooaj o!lgnd„ (1) jallew a141 0l pje6aj Ulm'uoµe6!j!I Aue anuµuoo jo`alnoasojd`pualap of uo!1e6pgo jo Alil!ge!l Aue bu!pnlou!`ajeuuu9j Ileys Ao!lod ay;japun pajnsu!ayj of suo!1eb!lgo ajlsu s,(uedwoO ay; 'uo!;ejad000 paimbei a141 14s!ujnl of pajnsu! ay;;o ajnl!el ay;!q �1!jn0as jay;o jo 'peep lsnjl `lsnjl ;o peep `96136}jow :,,a6e6ljow,, ) „ ((a) pao!pnfajd s!AuedwoO ay}11'pajnsui se lsojejw jo a;else ay1 0l aµµay}ys!lgelse (o!lod s!y;Aq pajnsu!s!puel ay}wojj pue 01 ssaooe 10 114611 e 140!ym 01 of elgej!sap jo Ajessaoau aq/ew AuedwoO ayj;o uo!u!do ay}u! yo!ym;oe In;mel lualxa ayl 3!w1I jo Appow Ile14s u!aja14 bu!14jou lnq'sAemjalem jo sAem`sauel'slalle jay;o Aue u! I!!) pue 'juewalljos buµoajja jo `bu!paeoow jo uo!loe 9yl bu!pualep 'senuane'speoA Islawls bu!linge u!luawasea jo ejels9'lsajolu!'911!1`1146u Aue jou`V jo bu!lnoasojd `sessaul!m bu!uelgo'90uap!na 6uunoas'bu!paeowd jo uo!joe Aue alnpayoS u!01 pajjejej jo paquosap eam a14j jo sau!l aqj puoA@q Aljadojd Aue 9pnlou! U!Q)p!e algeuoseaj Ile Auedwoo ay1 an!6 lleys`esuadxe s,(uedwoO @141113'pajnsu! lou scop ,puel„ wjal ayl .A;jadojd leaf ajn;µsuoo mel Aq yo!14m olajay; pax!}le ayj'Auedwoo ayl(q palsanbaj janauayM'asodjnd s!141 jol pajnsu!ayj to aweu 9141 s;u0w9nojdw!pue'V alnpayoS ui of pajjalaj jo paquosap puel aqj:,,puel„ (p) 'uo!;do sl!le'asn of AuedwoO a41 1!wjad pue`u!aja14l sleadde Ile pus'bu!pa9oojd -puel ay;bu!loalle Jo uo!loe ay} u! asualap ap!nojd jo alnoasojd os of ;y6!j ayj luedwoO ay1 sjallew l0 90!1ou an!jonjjsuoo pedw!14o!ym spjooaj jayjo Aue jo Ao!lod s!yl u!pau!lap of ajnoas llegs pajnsu!aqj 16u!paeoowd jo uo!joe Aue jo asualap ay1 jo;ap!nojd jo se spjooaj o!lgnd a141 jo uoseaj Aq pajnsu! up of palndw!aq/yew yo!yM ao!jou jo alnoasojd of RuedwoO ay;saj!nbaj jo sl!wjad Ao!lod s!14l ajaym saseo Ile ul (P) a6palMOu>f 9nµonj;suoo jou `abpalmou> lenloe :,,umou)!„jo ,abpalmouN,, (0) japjo jo juawbpnf abewep jo ssol 6u!w!elo pajnsu!ue:,,juew!eio pajnsu!„ (q) asjanpe Aue wojl leadde of 'uo!lajos!p alos sl! u! '314611 a14; sanjas9j llssajdxa pue uogo!psunf jualedwoo jo ljnoo e (q uo!jeu!wjalap leuµ01 uo!le6µ!l AUL ensjnd sjossa00ns (je!onp!1 jo a;ejodjo0 jo`u!t;o 1x911`sanµeluasajdaj leuosjad (ew (uedwoO ay;`/0!lod s!yl to suo!s!nojd 9141�q pa;;!wjad jo paj!nbaj se asualap 'S10AIAjns'SeO!n9p`saajnq!jjs!p`sj!a14'ol pal!w!i jou jnq'6u!pnlou!aseyojnd wojj e pasodja;u! jo uo!l0e 1113 ;y6nojq aney Ileys �uedwoO 9yj janauayM (0) pays!n6u!ls!p se mel to uo!;ejado Aq pajnsu!paweu ayl jo;sojejui ayj of paaoons oqm asoyl 'pajnsu! paweu a14j jsu!e6e peq aney pinom l�uedwoO aqj sasualap (1oilo !!!10 o1 Op lleqs!S1Ao d jo sjy6!j Aue o;joafgns 'pue'V alnpayoS u!paweu pajnsu!ayj:,,pajnsu!„ (e) ydej6ejed s!y;japun sly6!j s1!as!ojaxa ileys (uedwoO ay;}l /0pod s!y;10 uo!s!nojd !1113 an!eM jo Al!I!ge!I apaouoo Agajayl jou Ile4s pue 'japunajay alge!I aq lleys :ueaw (0!lod s!y;u!pasn uayM swja;6u!mollo;9141 j! jou jo jaglegm 'Ao!lod s!14l;o swjal aqj japun uoµoe aleudojdde Aue 9>ej few 'SW11:131 d0 NOIIIN143O 'I. SNOIldifldllS dNV SNowaN00 -jol!pajo ua!l jo juawa6pnf a jo onlen jot jaseyojnd a of ao!jou;jedwi of uo!jepjooaj yons;o (!) jo:jalsuejl jo luawnjlsu!aqj pjooaj/lawµof (!) :ajnl!el ayl wojj sllnsaj jajsuejj IequajaleAd eqj ajaym jdaoxa jelsuejl leµuejejajd a pawaap bu!aq Ao!lod s!14j Aq pajnsu!;sajeju!jo eje;sa ay1 buµeajo uopoesuejl a14} (q) jo'jelsuejI jualnpnejl jo aoueAanuOO jualnpnejl a pawaap bu!aq Ao!lod s!yl Aq pajnsu!lsajalu!jo alelsa aqj bu!leajo uo!;0esuejj aqj (e) :uo paseq s!leyl'smel sjy61j ,SJOI!pajo jel!w!s jo'AOuanlosu! alels `(oldni>ueq lejapal to uo!jejado ay1 jo uoseaj Aq 'Ao!lod s!y1 Aq pajnsu!lsajalui jo alelsa ay;pajnsul ay;u! 6u1jsan uo!loesuejj aqj jo Ino sasue yo!ym`w!ep AuV �q (83133 40110d p opis luoij woe;popnjouoo pue ponuiluoo) panulluo0 30Vd3A00 W083 SNoisn,=3 J. Standard Coverage PACIFIC NORTHWEST TITLE INSURANCE COMPANY, INC. A.L.T.A. OWNER'S POLICY SCHEDULE A Order No. : 391035 Policy No. : 1093-78861 Policy Date: December 30, 1999 Policy Amount: $90, 000. 00 at 10:25 a.m. 1. Name of Insured: CITY OF RENTON, a Washington municipal corporation 2 . The estate or interest in the land described herein and which is covered by this Policy is: FEE SIMPLE 3 . The estate or interest referred to herein is at date of Policy vested in: CITY OF RENTON, a Washington municipal corporation 4. The land referred to in this Policy is described as follows: Lot 18, Block 2, Motor Line Addition to Renton, according to the plat thereof recorded in Volume 9 of Plats, page 50, in King County, Washington. 'r.r Standard Coverage PACIFIC NORTHWEST TITLE INSURANCE COMPANY, INC. A.L.T.A. OWNER'S POLICY SCHEDULE B Policy No. : 1093-78861 This policy does not insure against loss or damage by reason of the following: GENERAL EXCEPTIONS: 1. Rights or claims of parties in possession not shown by the public records. 2 . Easements, or claims of easements, not shown by the public record. 3 . Encroachments, overlaps, boundary line disputes, or other matters which would be disclosed by an accurate survey or inspection of the premises. 4. Any lien, or right to a lien, for services, labor or material heretofore or hereafter furnished, imposed by law and not shown by the public records, or liens under the Workmen's Compensation Act not shown by the public records. 5. Any title or rights asserted by anyone including but not limited to persons corporations, governments or other entities, to tide lands, or lands comprising the shores or bottoms of navigable rivers, lakes, bays, ocean or sound, or lands beyond the line of the harbor lines as established or changed by the United States Government. 6. (a) Unpatented mining claims; (b) reservations or exceptions in patents or in Acts authorizing the issuance thereof; (c) water rights, claims or title to water. 7. Taxes or special assessments which are not shown as existing liens by the public records. 8. Any service, installation, connection, maintenance, capacity, or construction charges for sewer, water, electricity or garbage removal. 9. Indian tribal codes or regulations, Indian treaty or aboriginal rights, including, but not limited to, easements or equitable servitudes. SPECIAL EXCEPTIONS: As on Schedule B, attached. Policy No. : 1093-78861 SCHEDULE B Page 2 SPECIAL EXCEPTIONS: 1. Unrecorded leaseholds, if any; rights of vendors and holders of security interests on personal property installed upon said property and rights of tenants to remove trade fixtures at the expiration of the term. END OF SCHEDULE B MS/lts Y /00 30 30 /DO 1318.14 �, h h /C 44 ,. 40 go ioo o JL5 8 5°o°S ��,Q qp f/ 4~ ' ¢, v' ii °' 00 23/.79 Oo3 0 �2 N rN w J30•Jt �5 /3h M 23/.SS 0� N 4 51 0 CD m Y► b p ' Q 3jD° ,; 11 � ib4 tj tp� M tio, slo 2". h 3 /6 = m ,Ir •3 w i8 ° n /oo a� 3j 1 F /7 h N h s) O /30•/2 _ 8" : sof�e Z .3 4 05 44 44 54.C7 /GO 30 teOril�ii p 737.07 S�� THIRD ST B• /3 664 .34 3o 44 44 ¢o 40 4t¢ 44c (n -f4 0 40 44 44 so oG S4o �¢ 3 / 30 30 5 •¢ .3 sa 2 op N v 41, 1-10 900 op I O 50 y OA aN Al g J s ° Caj bpl� >. pS D p Cp p�Qp ,o4�p - v Q I 44 4f-L 40 y w 87 iZo 44 r°vy> o4 ¢4 40° G 4/Z34op/eFicZ4a 4 �CM � /ZO /2o 800,40 ;24 7 " b°o 13 23o2L6° oD0t8 '0302 ; N�_o 00 b 150586 Z . oo PACIFIC ITORTFINVEST TITLE COIN IPANTY NOR L Order No. 3&71Q 3S _ I-IPORTANT: This is not a Plat of Survey. It ;.s furnished as a convenience to locate the land indicated hereon with reference to streets and other land. No liability is assumed by reason of SOUTH reliance hereon. CONDITIONS AND STIPULATIONS Continued (continued and concluded from reverse side of Policy Face) attorneys' fees and expenses incurred by the insured claimant which were 12. PAYMENT OF LOSS. authorized by the Company up to the time of payment and which the Company is (a)No payment shall be made without producing this policy for endorsement obligated to pay;or of the payment unless the policy has been lost or destroyed,in which case proof of (ii) to pay or otherwise settle with the insured claimant the loss or damage loss or destruction shall be furnished to the satisfaction of the Company. provided for under this policy,together with any costs,attorneys'fees and expenses (b)When liability and the extent of loss or damage has been definitely fixed in incurred by the insured claimant which were authorized by the Company up to the accordance with these Conditions and Stipulations, the loss or damage shall be time of payment and which the Company is obligated to pay. payable within 30 days thereafter. Upon the exercise by the Company of either of the options provided for in paragraphs b(i)or(ii),the Company's obligations to the insured under this policy 13. SUBROGATION UPON PAYMENT OR SETTLEMENT. for the claimed loss or damage,other than the payments required to be made,shall (a) The Company's Right of Subrogation. terminate,including any liability or obligation to defend,prosecute or continue any litigation. Whenever the Company shall have settled and paid a claim under this policy, all right of subrogation shall vest in the Company unaffected by any act of the 7. DETERMINATION,EXTENT OF LIABILITY AND COINSURANCE. insured claimant. This policy is a contract of indemnity against actual monetary loss or damage The Company shall be subrogated to and be entitled to all rights and remedies sustained or incurred by the insured claimant who has suffered loss or damage by which the insured claimant would have had against any person or property in respect reason of matters insured against by this policy and only to the extent herein to the claim had this policy not been issued. If requested by the Company, the described. insured claimant shall transfer to the Company all rights and remedies against any person or property necessary in order to perfect this right of subrogation.The insured (a) The liability of the Company under this policy shall not exceed the least of: claimant shall permit the Company to sue,compromise or settle in the name of the (i) the Amount of Insurance stated in Schedule A;or, insured claimant and to use the name of the insured claimant in any transaction or (ii) the difference between the value of the insured estate or interest as litigation involving these rights or remedies. insured and the value of the insured estate or interest subject to the defect lien or If a payment on account of a claim does not fully cover the loss of the insured encumbrance insured against by this policy. claimant, the Company shall be subrogated to these rights and remedies of the (b) In the event the Amount of Insurance stated in Schedule A at the Date of proportion which the Company's payment bears to the whole amount of the loss. Policy is less than 80 percent of the value of the insured estate or interest or if If loss should result from any act of the insured claimant, as stated above, subsequent to the Date of Policy an improvement is erected on the land which that act shall not void this policy,but the Company,in that event,shall be required increases the value of the insured estate or interest by at least 20 percent over the to pay only that part of any losses insured against by this policy which shall exceed Amount of Insurance stated Schedule A,then this Policy is subject to the following: the amount,if any,lost to the Company by reason of the impairment by the insured () where no subsequentan has been made,as to improvement im claimant of the Company's right of subrogation. p y partial loss,the Company shall only pay the loss pro rata in the proportion that the amount (b) The Company's Rights Against Non-insured Obligors. of insurance at Date of Policy bears to the total value of the insured estate or interest The Company's right of subrogation against non-insured obligors shall exist at Date of Policy;or and shall include, without limitation, the rights of the insured to indemnities, (ii) where a subsequent improvement has been made, as to any partial guaranties, other policies of insurance or bonds, notwithstanding any terms or loss,the Company shall only pay the loss pro rata in the proportion that 120 percent conditions contained in those instruments which provide for subrogation rights by of the Amount of Insurance stated in Schedule A bears to the sum of the Amount of reason of this policy. Insurance stated in Schedule A and the amount expended for the improvement. The provisions of this paragraph shall not apply to costs,attorneys'fees and 14. ARBITRATION. expenses for which the Company is liable under this policy,and shall only apply to Unless prohibited by applicable law, either the Company or the insured may that portion of any loss which exceeds,in the aggregate,10 percent of the Amount demand arbitration pursuant to the Title Insurance Arbitration Rules of the American of Insurance stated in Schedule A. Arbitration Association.Arbitrable matters may include,but are not limited to,any c The Company will controversy or claim between the Company and the insured arising out of or relating ( ) p y pay only those costs, attorneys' fees and expenses to this policy, any service of the Company in connection with its issuance or the incurred in accordance with Section 4 of these Conditions and Stipulations. breach of a policy provision or other obligation. All arbitrable matters when the 8. APPORTIONMENT. Amount of Insurance is$1,000,000 or less shall be arbitrated at the option of either the Company or the insured.All arbitrable matters when the Amount of Insurance is If the land described in Schedule A consists of two or more parcels which are in excess of$1,000,000 shall be arbitrated only when agreed to by both the Company not used as a single site, and a loss is established affecting one or more of the and the insured.Arbitration pursuant to this policy and under the Rules in effect on parcels but not all,the loss shall be computed and settled on a pro rata basis as if the date the demand for arbitration is made or, at the option of the insured, the the amount of insurance under this policy was divided pro rata as to the value on Rules in effect at Date of Policy shall be binding upon the parties.The award may Date of Policy of each separate parcel to the whole,exclusive of any improvements include attorneys' fees only if the laws of the state in which the land is located made subsequent to Date of Policy, unless a liability or value has otherwise been permit a court to award attorneys' fees to a prevailing party. Judgment upon the agreed upon as to each parcel by the Company and the insured at the time of the award rendered by the Arbitrator(s)may be entered in any court having jurisdiction issuance of this policy and shown by an express statement or by an endorsement thereof. attached to this policy. The law of the situs of the land shall apply to an arbitration under the Title 9. LIMITATION OF LIABILITY. Insurance Arbitration Rules. (a) If the Company establishes the title,or removes the alleged defect,lien or A copy of the Rules may be obtained from the Company upon request. encumbrance, or cures the lack of a right of access to or from the land, or cures the claim of unmarketability of title,all as insured,in a reasonably diligent manner 15. LIABILITY LIMITED TO THIS POLICY:POLICY ENTIRE CONTRACT. by any method,including litigation and the completion of any appeals therefrom,it (a) This policy together with all endorsements, if any,attached hereto by the shall have fully performed its obligations with respect to that matter and shall not Company is the entire policy and contract between the insured and the Company. be liable for any loss or damage caused thereby. In interpreting any provision of this policy,this policy shall be construed as a whole. (b) In the event of any litigation, including litigation by the Company or with (b) Any claim of loss or damage, whether or not based on negligence, and the Company's consent, the Company shall have no liability for loss or damage which arises out of the status of the title to the estate or interest covered hereby or until there has been a final determination by a court of competent jurisdiction,and by any action asserting such claim,shall be restricted to this policy. disposition of all appeals therefrom,adverse to the title as insured. (c) No amendment of or endorsement to this policy can be made except by a (c) The Company shall not be liable for loss or damage to any insured for writing endorsed hereon or attached hereto signed by either the President,a Vice liability voluntarily assumed by the insured in settling any claim or suit without the President,the Secretary,an Assistant Secretary,or validating officer or authorized prior written consent of the Company. signatory of the Company. 10. REDUCTION OF INSURANCE:REDUCTION OR TERMINATION OF 16. SEVERABILITY. LIABILITY. In the event any provision of this policy is held invalid or unenforceable under All payments under this policy, except payments made for costs, attorneys' applicable law, the policy shall be deemed not to include that provision and all fees and expenses,shall reduce the amount of the insurance pro tanto. other provisions shall remain in full force and effect. 11. LIABILITY NONCUMULATIVE. 17. NOTICES,WHERE SENT. It is expressly understood that the amount of insurance under this policy shall All notices required to be given the Company and any statement in writing be reduced by any amount the Company may pay under any policy insuring a required to be furnished the Company shall include the number of this policy and mortgage to which exception is taken in Schedule B or to which the insured has shall be addressed to the Company at 215 Columbia Street, Seattle, Washington agreed, assumed, or taken subject, or which is hereafter executed by an insured 98104-1511. and which is a charge or lien on the estate or interest described or referred to in Schedule A,and the amount so paid shall be deemed a payment under this policy to the insured owner. ALTA OWNER'S POLICY—10-17-92 ± / M ƒ 2 ® / to ( \ / ) \cn / ? 7 \ fCD / ® § � / / � ° � • ƒ 2 % / / • ( 0 � \ / ® \ CIT% OF RENTON i Office of the City Attorney Jesse Tanner,Mayor Lawrence J.Warren MEMORANDUM TO: Victoria Runkle F &IS Administrator FROM: Stephanie Rary Legal Assistant to David M. Dean DATE: December 14, 1999 RE: Acquisition from Grimm et al Property Address: 204 Logan Avenue South, Renton, WA 98055 Closing Date: 12/20/99 I am writing to request the funds for the above acquisition. These funds will be held in our trust account until the escrow closes. The total amount required for the City to purchase this property is $90,737.54. Please make the check payable to "Warren Barber Dean& Fontes, P.S. Trust Account." Attached to this memo are the proposed Escrow Instructions—the City's closing statement can be found on page 9. Our target closing date is Monday, December 20, 1999, however I do not believe we will need to disburse the funds until Tuesday or Wednesday of that week. Please advise if you will not be able to forward the funds on or before this date. I apologize for the short notice. Thank you. Please contact me at 255-8678 if you have any questions. Post Office Box 626 - 100 S. 2nd Street - Renton, Washington 98057 - (425)255-8678 ®This paper contains 50%recycled material,20%post consumer *low ESCROW INSTRUCTIONS YOKEL, GRIMM, GRIMM, GRIMM, JASPER AND GRIMM, D/B/A GRIMM, BLOOMDAHL AND ASSOCIATES TO CITY OF RENTON Property Address: 204 Logan Avenue South Renton,WA 98055 TO: Warren,Barber,Dean & Fontes,P.S., Attorneys at Law: 1. PURCHASE AGREEMENTS: The undersigned appoint you as escrow agent for the closing of the above-mentioned real estate transaction in accordance with the terms and conditions of a Purchase Agreement ("Agreement") dated , between the undersigned Seller and Purchaser. The Agreement, and legal description therein (including future corrections thereto) are incorporated herein by reference. To the extent that any terms of that Agreement are inconsistent herewith, they are amended to conform to the terms of these Escrow Instructions. 2. INSTRUMENTS: The undersigned deposits with you the amounts necessary to close as set forth in the attached Real Estate Transaction Closing Statements ("Closing Statement"), together with necessary conveyancing and security instruments, which funds and instruments you are authorized to use when all parties have approved these instructions, and you hold for the account of the Purchaser the appropriate conveyancing instrument, and for the account of the Seller the appropriate promissory notes and/or security instruments and funds, all as set forth in the Agreement. From the sums deposited by the parties,you are authorized to deduct the charges as set forth in the attached Closing Statements. 3. TITLE INSURANCE: .1 General Information: The undersigned acknowledge that they understand that there are several different types of policies of title insurance, all of which can be issued with various endorsements which expand, explain or modify the policy coverage or insure against special risks. The two major types of coverage are Standard Coverage Policy and Extended Coverage Policy. ESCROW INSTRUCTIONS- 1 A Standard Coverage Policy has general exceptions which are contained in Schedule "B". For the most part these relate to off-record matters, such as encroachments or questions of location, boundary and area which an accurate survey would disclose, public or private easements not disclosed of record, rights of persons in possession of the property, material or labor liens, water rights, utility charges, etc. An Extended Coverage Policy will generally not include some or all of the Schedule "B" exceptions noted above. However, the Extended Coverage Policy will cost approximately 30% more than the Standard Coverage Policy. In addition the title insurer may require a survey of the boundaries of the property and the improvements located thereon if the title insurer's inspection of the property leaves any doubt with regard to encroachments or boundary disputes. Thus, there would be additional expense and delay caused by the survey. The undersigned have heretofore agreed that the Seller will provide a Standard Coverage Policy at the expense of the Seller. The undersigned confirm that agreement. If the undersigned desire to modify their prior agreement with respect to the type of title insurance policy, we will notify you in writing of the change so that the proper title insurance coverage can be secured. .2 Owner's Policy. You are instructed to, on behalf of the Seller, order from Pacific Northwest Title Insurance Company, a preliminary commitment for an Owner's standard form policy of title insurance in the face amount of Ninety Thousand Dollars and No Cents ($90,000.00). .3 Reliance. You are entitled to rely upon the preliminary commitment, and have no obligation to make any independent search of public records, or inquiry of any persons, including the Seller, Purchaser and Broker. 4. ESCROW FEE: Your escrow fee in the total sum of Six Hundred Fifty Dollars and No Cents ($650.00) is intended as compensation for the ordinary services as contemplated by these instructions. In the event that the conditions of this escrow are not promptly fulfilled or that you render any service not provided for in these instructions, or in the event there shall be an assignment of the interest of any party to these instructions or any modification in these instructions, you shall be reasonably compensated for such extraordinary services and reimbursed for all costs and expenses occasioned by such action. 5. REPRESENTATION: Seller is aware that Warren, Barber, Dean & Fontes, P.S., Attorneys at Law, are acting as the attorneys for the Purchaser. Seller waives any potential conflict of interest that may arise by reason of that relationship. Seller is aware of their right to be represented by independent counsel of their own choice. 6. LIMITATIONS: YOU ARE TO HAVE NO LIABILITY OR RESPONSIBILITY WITH RESPECT TO ANY MATTERS CONNECTED WITH THE FOLLOWING: (a) Heating oil in tank, water, Metro and other utility charges which will be adjusted between the Seller and Purchaser outside of this escrow. ESCROW INSTRUCTIONS -2 (b) Requirements of the Consumer Protection Act, Truth In Lending Act, the Real Estate Settlement Procedures Act, Inter-State Land Sales Act, and any similar laws and regulations. (c) Personal property, or encumbrances thereon, including personal property taxes, matters relating to the Bulk Sales Act, sales taxes and instruments filed under the Uniform Commercial Code, which matters will be adjusted between the Seller and Purchaser outside of this escrow. (d) Forgeries or false personations of any person or party in connection with these instructions or this escrow generally. (e) Assessments, utility connection and any other charges which are not of record and disclosed in the preliminary commitment for title insurance, including omit taxes which may appear on future tax statements. Seller warrants to you and to the Purchaser that there are no recently completed, pending, or announced local improvements for streets, underground wiring, water, sewer, etc., chargeable or to become chargeable to the property. All such matters shall be adjusted between Seller and Purchaser outside of this escrow. (f) The accuracy or correctness of any representations or provisions in the Agreement, or otherwise made by the parties or Broker. (g) Insurance on the property. (1) Purchaser understands and acknowledges that it is Purchaser's responsibility to provide for fire and casualty insurance upon the premises commencing as of or prior to the closing date in order to protect Purchaser's interest in the property. (2) In the event that Seller is financing any portion of the purchase price, Purchaser agrees, on or before the closing date, to acquire and pay at least the first year's premium on a new fire and casualty insurance policy with extended coverage in an amount not less than the value of the improvements on the property, or as set forth in the Agreement. The policy shall, to the extent that there is any balance owed them, name the Seller and any other holders of security against the property as loss payees. Purchaser agrees to immediately deliver to Seller a copy of the policy. (3) Seller will maintain any present insurance on the property until closing, and will be free to thereupon cancel the same and retain any refund of unearned premium. (h) Rental or lease arrangements concerning the property, including accounting or pro- ration of rentals or transfer or accounting of tenant deposits. ESCROW INSTRUCTIONS-3 (i) The parties understand that you have not inspected the subject property and have no knowledge regarding; (1) The condition of the real property; (2) Whether or not any items of personal property referred to in the Agreement, if any, remain on the property or will remain on the property on delivery of possession to Purchaser; or (3) The presence on the real property, or in any improvements located thereon, of any asbestos-containing materials, polychlorinated biphenyls ("PCBs"), fuel and/or chemical storage tanks, drums and/or pipelines, liquid or solid wastes, pesticides, herbicides and/or other agricultural chemicals, or other substances or materials defined or designated as hazardous or toxic wastes, hazardous or toxic materials, a hazardous, toxic or radioactive substance, or other similar term, by any federal, state or local environmental statute, regulation, or ordinance, presently in effect, which materials are collectively referred to herein as "hazardous substances". The parties have specifically declined to secure a pre-acquisition assessment of the property to ascertain whether any hazardous substances are present on the property, or on any adjacent or nearby property. The Purchaser acknowledges that they understand that they may be held liable for the cost of cleanup or other remediation of any hazardous substances which may be hereafter discovered to be present on the property, together with costs of response by environmental agencies, and other damages to the environment, in the event that the Purchaser fails to make due and diligent inquiry into the environmental condition of the property prior to acquisition thereof. (j) You shall not be responsible for the transfer of possession of the real and personal property from Seller to Purchaser. All arrangements concerning such transfer shall be made directly between such parties. (k) You shall have no obligation or responsibility to check on, verify or obtain any information with respect to determining (or if any information is so obtained, you shall have no liability with respect to determining): (1) Whether or not any Note and/or Mortgage, Deed of Trust, or Real Estate Contract against the property permits the holder to raise the interest rate and/or declare the entire balance due in the event of sale, or requires consent to sale of the property. (2) Any balance owed by Seller on Lienable Condominium or Homeowner's Association dues or charges. ESCROW INSTRUCTIONS-4 Seller warrants to Buyer that all Condominium or Homeowner's Association dues or charges are paid current. You have advised us to have this information reviewed by our own attorney. (1) Encroachments or questions of location, boundary and area, which an accurate survey may disclose. Each party specifically declines to obtain a survey of the premises which would disclose any such matters. (m) Public or private easements, streets, roads, alleys or highways, unless disclosed of record by recorded plat or conveyance, or decree of a court of record. (n) Exceptions and reservations in United States Patents. (o) Rights or claims of persons in possession, or claiming to be in possession, not disclosed by the public records. (p) Material or labor liens, or liens under the Workmen's Compensation Act not disclosed by the public records. (q) Water rights or matters relating thereto. (r) Any service, installation or construction charges for sewer, water, electricity, or garbage removal. (s) General taxes not now payable; matters relating to special assessments and special levies, if any,preceding the same becoming a lien. (t) Right of use, control or regulation by the United States of America, in the exercise of powers over navigation. (u) Any prohibition or limitation on the use, occupancy or improvement of the land resulting from the rights of the public or riparian owners to use any waters which may cover the land. (v) Zoning (present or potential) of the property, and the legality or propriety of the Purchaser's proposed use of the property under existing land use codes. 7. MISCELLANEOUS: I A copy of the Closing Statement and other instruments may be delivered to any broker involved in the transaction, as well as to mortgagees or holders of other liens, and to attorneys representing any of the parties. You are authorized, but not required, to notify prior lien holders of the existence of any contract or other instrument securing all unpaid balances owed Seller by Purchaser. ESCROW INSTRUCTIONS- 5 *MV .2 These instruments are complete, and there are no oral or other agreements which modify or affect the same. Any future amendments or supplements to these instructions must be in writing, and delivered to you,before they shall be effective. .3 All notices and correspondence may be mailed or delivered to the parties at the addresses shown below. You shall have no liability for any loss or delay involved in mailing any instruments or monies. .4 The term "closing" is susceptible to several meanings. Generally, it means the time at which the Seller delivers title to the Purchaser in exchange for the purchase price. Normally, closing does not occur when the parties execute the legal documents at the closing agent's office or when the Purchaser delivers all or part of the purchase price to the closing agent but may be delayed several days until the documents and funds have been processed. 8. TERMINATION: If you are unable to comply with these instructions, or are, in your sole opinion, unable or unwilling to close this sale in the manner provided in the Agreement, then you will so notify the Seller and Purchaser in writing. If neither party has filed any objection within ten (10) days after receipt of such notice,then you are instructed to return all instruments and monies to the party who signed the same or paid the money to you. Thereupon, you are, without the necessity of further concurrence or instruments from either of the parties, released from all liability in respect to this escrow. If within said ten (10) days, either of the parties objects to the return of the instruments or monies, or transfer to another closing agent, you are authorized, in your discretion, to either hold the same until agreement is reached, or to interplead the same with the Superior Court, at the expense of the parties. Any monies returned to the parties shall be less any expenditures which you have made on their behalf prior thereto, including, but not limited to, any title insurance cancellation fee and your full escrow fee. 9. CLOSING STATEMENT: The attached closing statement has been reviewed and is approved by the parties. Dated: Seller: Purchaser: CITY OF RENTON By: Alvin John Yokel Mayor Jesse Tanner Soc. Sec. No. ATTEST: John C. Grimm,Jr. Soc. Sec.No. ESCROW INSTRUCTIONS-6 �+ 'err' David W. Grimm Soc. Sec. No. Gary L. Grimm Soc. Sec. No. Lorraine G. Jasper Soc. Sec. No. Kristi Lee Grimm Soc. Sec. No. ESCROW INSTRUCTIONS -7 ESTIMATED SELLER'S REAL ESTATE TRANSACTION CLOSING STATEMENT YOKEL, GRimm,GRuvm, GRIMM,JASPER AND GRIMM,D/B/A GRIMM,BLOOMDAHL AND ASSOCIATES TO CITY OF RENTON Property Address: 204 Logan Avenue South Renton,WA 98055 Closing Date: December ' 1999 DESCRIPTION CHARGES CREDITS Sales Price 90,000.00 Delinquent Real Estate Taxes penalties and Interest Second 351.86 Half 1999: Real Estate Taxes prorated as of 12/20/99: 21.23 Title Insurance Premium inc. Sales Tax 553.86 One Half Escrow fee: 325.00 Credit for difference between actual closing costs and 378.86 Seller's$500 contribution to closing costs: Wire transfer fee: 15.00 Check to Seller: $89,154.37 89,154.37 To be wired to Key Bank under account for Grimm, Bloomdahl and Associates Extended Totals 90,400.09 90,400.09 ESCROW INSTRUCTIONS-8 ESTIMATED PURCHASER'S REAL ESTATE TRANSACTION CLOSING STATEMENT YOKEL, GRIMM,GRIMM, GRIMM,JASPER AND GRIMM, D/B/A GRIMM,BLOOMDAHL AND ASSOCIATES TO CITY OF RENTON Property Address: 204 Logan Avenue South Renton,WA 98055 Closing Date: December ' 1999 DESCRIPTION CHARGES CREDITS Sales Price 90,000.00 Current Real Estate Taxes 21.23 Pro-rated as of 12/20/99. Recording/Reconveyance Fees (est.) 12.45 Escrow Fee (one-half) 325.00 Charge for difference between Seller's$500 contribution to 378.86 closing costs and actual closing costs: Check from Purchaser to Close: $ 90,737.54 90,737.54 Extended Totals 90,737.54 90,737.54 ESCROW INSTRUCTIONS-9 ./ PAYOR'S REQUEST FOR TAXPAYER IDENTIFICATION NUMBER ESCROW NO. 175-089 DATE OF CLOSING: 12/20/99 PROPERTY ADDRESS: 204 Logan Avenue South Renton,WA 98055 Are you selling or refinancing the above property? Selling_X_ Refinancing Is this property your primary residence? Yes No_X_ Are you a United States Citizen? Yes X No SELLER/REFINANCING INFORMATION: Yokel, Alvin John (Street Address) (City, State,ZIP) (Phone No.) (Social Security No. or Taxpayer ID) Grimm, Jr., John C. (Street Address) (City, State, ZIP) (Phone No. (Social Security No. or Taxpayer ID) ESCROW INSTRUCTIONS - 10 Grimm,David W. (Street Address) (City, State, ZIP) (Phone No.) (Social Security No. or Taxpayer ID) Grimm,Gary L. (Street Address) (City, State, ZIP) (Phone No.) (Social Security No. or Taxpayer ID) Jasper,Lorraine G. (Street Address) (City, State,ZIP) (Phone No.) (Social Security No. or Taxpayer ID) Grimm, Kristi Lee (Street Address) (City,State,ZIP) (Phone No.) (Social Security No. or Taxpayer ID) ESCROW INSTRUCTIONS - 11 CERTIFICATION: Under the penalties of perjury, I certify that the information provided above is true, correct and complete. Alvin John Yokel John C. Grimm,Jr. Date: Date: David W. Grimm Gary L. Grimm Date: Date: Lorraine G. Jasper Kristi Lee Grimm Date: Date: ESCROW INSTRUCTIONS- 12 MAR 1 5 1999 3 r Summary Appraisal Report - Complete Appraisal of Williams/Jasper Property Location 603 S. 2nd Street & 204 Logan Avenue South .. Renton, Washington Date of Valuation March 3, 1999 a rn rl� Appraised by Denise M. Lane, MAI a. r Bruce C.Allen &Associates, Inc. 19043DL.DOC Complete/Summary ASSUMPTIONS AND LIMITING CONDITIONS This appraisal report was made after personal inspection of the property identified in this report. The conclusions in the report have been arrived at and are predicated upon the following conditions: (a) No responsibility is assumed for matters which are legal in nature, nor is any opinion rendered on title of land appraised. Title to the property is assumed to be good and marketable unless otherwise stated in this report. (b) Unless otherwise noted, the property has been appraised as though free and clear of all �. liens, encumbrances, encroachments, and trespasses. (c) All maps, areas, and other data furnished your appraiser have been assumed to be correct; however, no warranty is given for its accuracy. If any error or omissions are found to exist, the appraiser reserves the right to modify the conclusions. Any plot plans and illustrative material in this report are included only to assist the reader in visualizing the property. M (d) It is assumed there is full compliance with all applicable federal, state, and local environmental regulations and laws unless otherwise stated in this report. (e) It is assumed all applicable zoning and use regulations and restrictions have been complied with, unless a nonconformity has been stated, defined, and considered in this appraisal report. .. (f) The appraiser has no interest, present or contemplated, in the subject properties or parties involved. (g) Neither the employment to make the appraisal nor the compensation is contingent upon the amount of the valuation report. (h) 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 have been withheld or overlooked. (i) Possession of this report, a copy, or any part thereof, does not carry with it the right of publication, nor shall the report or any part thereof be conveyed to the public through advertising, public relations, news, sales, or other media valuation conclusions, identity of the appraiser, or firm, and any reference made to the Appraisal Institute or any professional designation. (j) There shall be no obligation required to give testimony or attendance in court by reason of .� this appraisal, with reference to the property in question, unless satisfactory arrangements are made in advance. (k) This appraisal has been made in accordance with rules of professional ethics of the Appraisal Institute. (1) No one other than the appraiser prepared the analysis, conclusions, and opinions concerning real estate that are set forth in the appraisal report. r (m) Statements or conclusion offered by the appraiser are based solely upon visual examination of exposed areas of the property. Areas of the structure and/or property which are not exposed to the naked eye cannot be inspected; and no conclusions, representations, or statements offered by the appraiser are intended to relate to areas not exposed to view. No obligation is assumed to discover hidden defects. r Bruce C.Allen &Associates, Inc. 1904.3DL.DOC Complete/Suuuuan ASSUMPTIONS AND LIMITING CONDITIONS (n) Unless otherwise stated in this report, the existence of hazardous waste material, which may or may not be present on the property, was not observed by the appraiser. The appraiser has no knowledge of the existence of such materials on or in the property. The appraiser, however, is not qualified to detect such substances. The presence of substances such as asbestos, urea-formaldehyde foam insulation, or other potentially hazardous materials may affect the value of the property. The value estimate is predicated on the assumption that there is no such material on or in the property that would cause a loss in r. value. No responsibility is assumed for any such conditions or for any expertise or engineering knowledge required to discover them. The client is urged to retain an expert in this field, if desired. (o) Statements, representations, or conclusions offered by the appraiser do not constitute an express or implied warranty of any kind. (p) Neither appraiser nor Bruce C. Allen & Associates, Inc. shall be liable for any direct, special, incidental, or consequential damages whatever, whether arising in tort, negligence, or contract, nor for any loss, claim, expense, or damage caused by or arising out of its inspection of a property and/or structure. (q) The Americans with Disabilities Act (ADA) became effective January 26, 1992. We have not made a specific compliance survey and analysis of this property to determine whether or not it is in conformity with the various detailed requirements of the ADA. It is possible that a compliance survey of the property, together with a detailed analysis of the requirements of the ADA, could reveal that the property is not in compliance with one or more of the requirements of the Act. If so, this fact could have a negative effect upon the .� value of the property. Since we have no direct evidence relating to this issue, we did not consider possible non-compliance with the requirements of ADA in estimating the value of the property. rr ..r rs rr err r. Bruce C.Allen &Associates, Inc. 1904,?DL.DOC Complete/Sum neary TABLE OF CONTENTS Page Assumptions and Limiting Conditions Subject Property Photographs i Summary Appraisal Report - Complete Appraisal History and Ownership......................................................................................... 2 .r Purpose of the Appraisal....................................................................................... 2 Interests Appraised............................................................................................... 3 IntendedUse of Report ......................................................................................... 3 Appraisal Development and Reporting Process................................................... 3 Special Assumptions .... 4 ......................................................................................... Abbreviated Neighborhood Description................................................................ 4 Property Description............................................................................................. 7 +� Zoning................................................................................................................. 7 Brief Improvements Description....................................................................... 8 AssessedValue................................................................................................... 9 Highestand Best Use............................................................................................. 9 Valuation ..............................................................................................................10 Comparative Analysis.......................................................................................12 Income Approach—Parcel A................................................................................13 Certification of Value ..............15 ............................................................................. ADDENDA Qualifications of Appraiser .r r Bruce C.Allen &Associates, Inc. M 19013DL Coniplete/Sununary SUBJECT PROPERTY PHOTOGRAPH f L Parcel A's frontage along S. 2nd Street, looking east .. �S f irr — ,.. rn East elevation and parking area of Parcel A from Burnett Avenue Bruce C.Allen &Associates, Inc. 190.?DL.DOC ComplelelSummary SUBJECT PROPERTY PHOTOGRAPH ti r Parcel B parking lot and improvement on Parcel A, in background. Frontage along Logan Avenue S. Y L t View looking south along Burnett Avenue. Parcel A, right side of photo r Bruce C.Allen &Associates, Inc. 190/.3DL.DOC Cornplele/Sununary SUBJECT PROPERTY PHOTOGRAPH A� Mos .. :�- r r - r� r New apartment under construction, west of Logan Avenue S. r r r r Bruce C. Allen &Associates, Inc. 19043DL.DOC Contplete/Sununary .. BRUCE C. ALLEN & ASSOCIATES, INC. Real Estate Appraisers and Consultants Bruce C.Allen,MAI, CRE,President Denise M.Lane,MAI Murray Brackett,MAI r .r SUMMARY APPRAISAL REPORT - COMPLETE APPRAISAL This is a Summary Appraisal Report which is intended to comply with the reporting requirements set forth under Standards Rule 2-2(b) of the Uniform Standards of Professional Appraisal Practice (USPAP)for a Summary Appraisal Report. As such, it presents only summary discussions of the data, reasoning, and analyses that were used in the appraisal process to develop the appraiser's opinion of value. Supporting documentation concerning the data, reasoning, and analyses is retained Lit the appraiser's file. The depth of discussion contained Lit this report is specific to the needs of the client and for the intended use stated below. The appraiser is not responsible for unauthorized use of this report. Client: Ms. Sue Carlson City of Renton Economic Development Neighborhoods & Strategic Planning 1055 South Grady Way Renton, Washington 98055 Appraisers: Denise M. Lane, MAI Bruce C. Allen & Associates, Inc. 10655 NE 4th Street, Suite 221 Bellevue, Washington 98004-5022 Appraised Real Estate: The subject of this appraisal is four city lots containing 22,450 square feet, located at the southwest corner of Burnett Avenue South and South 2nd Street in Renton's Central Business District. There are two separate ownerships. The 17,450-square-foot site (Williams) is improved with a 1-story masonry building constructed in 1963, while the 5,000- square-foot site (Jasper) is vacant. File ID: 19043 Interest Valued: Fee simple 10655 N.E.4th Street, Suite 221 Bellevue, Washington 98004-5022 (425)450-4040 Fax(425) 688-1819 TDD For Speech-and Hearing-Impaired: 1-800-833-6388 "� 190-IDL.DOC Complete/Sisnimary — Effective Date of Value: March 3, 1999 Date of Report: March 9, 1999 Legal Description: A title report was not provided. The following legal aw description is based on King County Assessor's information and other public records. — PARCEL A: Lots 9 – 11, Block 2, Motor Line Additiota, located in SE '/e of Section 18, Township 23N, Range 5E. This site is also identified as Tax ACCOutat 569600-0090. — PARCEL B: Lot 8, Block 2, Motor Litae Addition, located in SE '14 of Section 18, Township 23N, Range 5E. This site is also identified as TaxAccou7tt 569600-0085. — History and Ownership Parcel A is currently owned by Thomas H. Williams and Gladys Hiatt (brother and sister) and Parcel B is owned by Lorraine G. Jasper according to public records. The last recorded sale of Parcel B occurred in 1983, while Parcel A transferred in •• March of 1998 via quit claim deed per records. There are no other details available regarding the quit claim deed transfer. Purpose of the Appraisal The purpose of this appraisal is to estimate the market value of the fee simple interest in the subject property, as of March 3, 1999. Market value is defined as:' i The most probable price which a property should bring in a competitive and opera market under all coladitions requisite to a fair sale, the buyer and seller each acting +. prudently and knowledgeably, and assuming the price is not affected by undue stimulus. Implicit in this definition is the consummation of a sale as of a specified date and the passing of title from seller to buyer under conditions whereby: .� 1. buyer and seller are typically motivated; 2. both parties are well-informed or well-advised alad actilag ita what they consider their best interests; 3. a reasonable time is allowed for exposure in the open market; 4. payment is made in terms of cash in United States dollars or in terms of financial arrangements comparable thereto;and 1Source: Office of the Comptroller of the Currency under 12 CFR, Part 34, Subpart C-Appraisals, 34.42 Definitions [fl. Bruce C.Allen &Associates, Inc. r 1904.?DL.DOC 2 Complete/Summar), KIWNIS is IZAI.s ►��j S Ie4 st t2 io i - !11 eltartar"1 y A= N z 6TH ST `f > ?211 " m� IK ftV Yr'sr8 ccw�ilvrK Qz z z °� NEsm Z y' NEw Rc NE .fj�, H ST_ �`I MMIIAL N H ST °prr° N Z eo-vw n, S L_ S 126TH PL = ,e r w Ns srAoru+ 1 �> > > j �. i P � CT I �S� $ �m4r: >c <'I a / <o 11 W�N�S�ST:WINDSOR' FERC r S 15 < S 128TH 12DTH I Hw Nr N 4TH z z A�� PA H; Si i > > ST v� }w1100ST z—� < < I z N r 4 e o o v� N s W w 70.D PL Z = N MART N ^ 5T 'Z C H cc CD T N S< 130 Ili _ ST Si 'S _ CL O v m= a 3RD Q < ST (-+ — RENTON W v AIRPORT �' ZNO r o N �2�R- P.L N g AIRPORT WY S 132ND ST - - 2ND a Tluuu, 'ST N 5 ST`S _ P NE TILLrLLN ST �� S 7OBIN sT N MONr �� F ' S S 1 �•D' '.._' 5 VICTORI 300 Q PEOEs IAN Sh��4r Sj S. AEi o L w P, q 5�'�`.90 1 I CEDRIA T 1 ST v"aX '!7 z _ l' 34TN�iE I ST N N Sw 12NO sr a <� 18 RENTON Z H K,es \ LIBERTY �� W > MOUNT S IIT s o SW � =.i vi a PARK 4A a .? 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Allen &Associates, Inc. 5. the price represents the normal consideration for the property sold unaffected by special or creatine financing or sales concessions granted by anyone associated with the sale. Interests Appraised Fee simple interest is defined as:z The tnaxitnutn possible estate one can possess in real property. A fee simple estate is the least limited interest and the most complete and absolute ownership in land; it is of indefinite duration, freely transferable, and inheritable. Fee simple title is sometimes referred to as "the fee." All other estates may be created frotn it, which means that all other estates tnust be something less than fee simple (such as life estates, leaseholds, etc.). Any limitatiottS that exist on the control and use of the land held in fee do not result frotn the nature of the estate itself but are the result of the .. limitations of Etnittent Domain, escheat,police power, attd taxation. Intended Use of Report This appraisal is intended to aid the City of Renton in potential acquisition of the .. two parcels in conjunction with the evolving Transit Center project. The balance of the block has already been acquired by the City of Renton and improvements are underway. Appraisal Development and Reporting Process The scope of this appraisal is the Sales Comparison Approach as Parcel B is vacant ® land and Parcel A is improved with a small building that does not contribute much value over the land as if vacant, as demonstrated through application of an abbreviated income approach. Various documents were reviewed, including the City's Comprehensive Plan and zoning code. Recent sales and listing data was collected by researching TRW/Experion, NWMI A, and COMPS, Inc., as well as using an in-house database. To develop the opinion of value, the appraiser performed a Complete Appraisal process, as defined by the Uniform Standards of Professional Appraisal Practice. .. This means that no departures from Standard 1 were invoked. 2From The Appraisal of Real Estate, Tenth Edition, 1992,Appraisal Institute, page 122. Bruce C.Allen &Associates, Inc. 1904.7DL.DOC 3 Complete/Summary r .. This Summary Appraisal Report is a brief recapitulation of the appraiser's data, analyses, and conclusions. Supporting documentation is retained in the appraiser's file. Special Assumptions I have been provided no information regarding the presence or absence of hazardous waste on the subject property. This appraisal assumes the absence of any and all hazardous waste on the subject property. If hazardous waste is found to be present on the subject property, I reserve the right to change the valuation contained in this report. It is noted that much of the downtown core area of Renton may have at one time been part of the Cedar River bed. Consequently, soils in the area tend to be .. unsuitable for intensive development. Historically, the vast majority of buildings constructed in the CBD have been one- to two-stories in height — very few have incorporated parking garages. Soils have, therefore, not been an issue. Subsurface parking garages are expensive to build and typically a developer would not incur the added cost unless market value of the land precluded purchase of site area for surface parking. In this case, land values for the city center are relatively low and highest and best use does not necessarily mean construction to the maximum height allowed by the zoning code, as feasibility is a key component. For this reason and because there is not enough market evidence to support a discount for .. soil conditions, no adjustments are made. Abbreviated Neighborhood Description When Renton was first incorporated in 1901, the city was only 1 square mile in size. The expansion was achieved mostly through annexations of adjacent and nearby areas. During 1949 to 1969, 10.8 square miles were added to the city -- 67% of its present territory. This growth was fueled by people migrating to the area to work in the booming wartime industries in Renton. During World War II, the Boeing Company's decision in 1940 to build a new plant at the south end of Lake Washington to produce B-17 bombers and new flying boats changed the city of Renton more than any other event in recent history. From a Bruce C.Allen &Associates, Inc. 1901.3DL.DOC 4 Cotnplete/Sununary „. relatively small town of about 4,500 people in 1940, Renton became a large industrial center of the Puget Sound region, with a population of 16,039 in 1950. Today, the Boeing Company is involved in producing commercial airplanes (737s, 747s, 757s, 767s, and 777s), as well as various military and space programs. Boeing's purchase of the Longacres Race Track for future construction of a multibuilding facility demonstrates the company's commitment to the Renton area, as the city is the home of Boeing Commercial Airplane Group's world headquarters. In the decades following the 1949-1969 period, expansion has taken place slowly, ,. and the city has gained only about 1.9 square miles to arrive at the current size of 16.1 square miles. The 1996 population of Renton was 45,170, making it the fourth largest city in King County, behind Seattle, Bellevue, and Federal Way, respectively. An additional 60,000 people live in the unincorporated area surrounding the city. According to Renton's recently published (February 1995) Comprehensive Plan, • Renton continues to be an important center of employment providing over 45,000 jobs. Most of the people work for the Boeing Company or PACCAR, which continue ., to be major players in the local and regional economy. As discussed above, the air transportation industry is the leading job provider, followed by business and AW medical services. By comparison, the trucking and warehousing businesses are not a major source of employment. Renton is composed of sixteen distinct neighborhoods. The subject property is located in the heart of a neighborhood known as South Renton, located in the middle portion of the city of Renton. The South Renton neighborhood, as defined in "The Community Profile,” is in the central Renton area, to the southwest of North ,. Renton. The neighborhood is bounded on the north by the Cedar River and Lake Washington, on the west by Rainier Avenue S., and on the south and on the east by I-405. South Renton covers approximately 1.1 square miles and is the historical central business district of Renton. The downtown area remains fairly lively, with activity centered on government and service-related functions as it is the location of City Hall and the Renton Library. Much of the downtown retail and commercial activity, however, has been displaced by local malls and shopping centers. Tenants in the downtown core tend to be small w Bruce C. Allen &Associates, Inc. 19043DL.DOC 5 Complete/Sit in wary e� family-owned restaurants, thrift shops, and antique or "collectibles" businesses. McLendon's Hardware is one of the larger retailers in the CBD. The neighborhood also includes long established single-family, duplex, and small-scale multifamily s. residential areas. Single-family homes in South Renton tend to have prices that range from low to moderate. There are five major mid-rise office buildings in the South Renton neighborhood. •• All but one of these buildings (Evergreen) were originally build-to-suits and 100% occupied by the Boeing Company, prior to the Boeing decision to vacate many of the leased South End office buildings in 1995. Because of the Boeing pullout, office vacancy rates in the SeaTac, Renton, and Tukwila area exceeded 20% in 1995 — 1996 and rental rates were very low relative to other areas. Gradually, the vacant buildings were absorbed, including the acquisitions of the 9-story Main & Grady Building by the City of Renton as the new City Hall. Current Class A office vacancy in Renton is approximately 5%. .. Up until recently, downtown Renton was relatively stagnant as there had been no new private development for many years. Nearly all new business growth has occurred outside the downtown core area. The only exceptions have been two senior housing projects and the "Spirit of Washington" dinner train. One problem with r redeveloping the downtown area, in addition to poor economics, is the small lots/numerous ownerships and small blocks creating difficulties in assembling enough land necessary to build a major project. In response to this dilemma, the City has been in the process of redeveloping the downtown core. A local transit hub will be incorporated into the new regional transit plan, old automobile dealerships (1940s-1950s vintage) have relocated to the Auto Mall area at Grady Way and Rainier Avenue S., and the City is planning public parking and a city park. These projects are in the subject's and adjacent blocks. 40 Private developers are also starting to get interested in downtown Renton. One example is the former showroom portion of Good Chevrolet, located at the southwest corner of Burnett Avenue S. and S. 3rd Street that was sold in March .• 1997 and substantially remodeled into office and restaurant space. Another is the Bruce C.Allen &Associates, Inc. 1904.3DL.DOC 6 Complete/Sunnuiary 9 /2 60 " o/oo Poo 1 of 020° ° ` poa'?p$y it � SOooQ /�v, 20,pp0 1 to 6 1A (/5 �I V4 C.aCO.3272 . - All I 1 s t�cc.n/ 5L v /LO1J1O' Parcel A g /0 , 7 h s° 30 / 2 zz xz s / H 1 Zo 2 6tia (o �;dl' ygAp �Cj X15 g Parcel B �8 t,°qo = 2 fiti� ` 44 9 q o n o ° o°p p v % 0062° 5 a A� z31./9 003 a /2 3 5tir66 z hr ZZ6/� i H to ,L6� b W 13o•rz t, 2oi0 4 m / z ° a 63 N T 4 ,JrO�o 1h /¢z LINc 25 — 3 h o �' 4 °° ti 2�/s Zc 3s /oo .J 3 0(�° o M (p 1 u o .0.4 eeLO a L N ,°°/0 a� as m h°0ti o /6. m a 4 N ,L izo h „ .e �' X09 0°' /o0 7 ht. ll}/ ��, ,y /4 °I ° ss 44 a �.j3 � d� / � /7 b , oNb 6 N ,\?�y a 18 v % 9 /2 • 7 408 ✓ o 3v 3/,° G 7 S �,lU,`°°y 1(� b' / ° �i° pCP 44 's'4 -j 44 44 34 o] ` /GO 0 30 3otoa L°s ° `°/D t1. 6 1y \° ' /1 S. 0 THIRD ST /20 za z° 44 44 3o ae 4f 4E 46 ao sa sf vj 4 1 44 40 40 44 44 s° ° 4 . 3 co z / 3c .30 /go 3 2 / /2O two O °O N U fti a rpf '41 12 0M hvt3a1°/!e°4 O O N °0Oo0 aN 07 0 o° a. o � sto > 4 ' — (o 440 40 44 4 al Op r�i N 13 Ib Q izo i2o i /Zo N /Lo iz0 N ti V/4 ` 3 / Ado,," N x 7 00; . .6��40 29� 7 / 03�'24� N "' s• cn M J I- 4o 2 Q1 23 : N o ° d pbo,1 n 6 p°00(,/ �Ot� 23�: 8 p�G° Og4o 23' >0 � ` 4 to �5a5 4 /zo ui 2(v O ,00i° 22 - 9 O paoi0 p6°��a 22= w g �9°1p 15058 0,ewi z a� ; 5 N of ZZ�1 > ° a o 4aom cJ c4 t >Lu /3 d �' ° /zo 0 0o ,Bpo 2/ ' /O to ,opb�i po 1 2/• /B �sy�S b ° 33 o c o ,80 09 20, // .e �° • i°20 // �z0 qp ° --7 q r 7 �. /9_ /2 soon G. de°�5/9 = /2 ey4S ©� /91 z 11 i3 pie° U pa°° le°Ap 1 o�4s/B 00 h 8P� LLIJ O" o� h of - zzo So O ° /7 : L // /¢ ip}qL'osp5/7n,c° o �fit. pl /S x°D oet ° 10 01 �°E9 o °p1/� J° 3o p �� 03 10 z�'� 04 5 � gas by R 'I by .,S... FOURTH o N3 (4 T4 A✓E) Parcel A - Williams and Parcel B - Jasper Site Plan � Bruce C. Allen &Associates, Inc. r 3-story, planned 110-unit apartment project to be located between Morris and Logan Avenues, south of S. Second Street, currently under construction. In summary, the South Renton neighborhood is fully developed, and new development will require demolition of obsolete buildings. Any growth in the area .. will most likely occur if conditions in the central business district change and pressure for redevelopment or revitalization is created. Amenities will draw high-density multifamily residential development which in turn will enhance viability of retail and other businesses. Property Description .. Parcel A Parcel B Address 603 South 2nd Street 204 Logan Avenue S. +r Site size 17,450 sf 5,000 sf Dimensions Irregular 50'x 100' r Access Burnett Ave, S., S. 2nd Street & Logan Avenue S. Logan Avenue Topography Level Level Utilities All available All available Improvements 1-story masonry building None with 2,908 sf Zoning The subject site and balance of the block is zoned CD. The city recently adopted new names for certain zoning categories without changing the content of the ordinance defining permitted uses for the district. Prior to the new "CD" designation, the subject sites had been zoned CM or "mixed commercial." The purpose of the CD zone is to provide a mixed-use commercial center serving a regional market, as well as adjacent residences. Uses include a wide variety of retail sales, personal and professional services, multifamily residential dwellings, recreation and entertainment uses, and some light industrial. This zone is intended for the Downtown District only and meets Land Use Policy intent for that area. Permitted uses include nearly all forms of retail and service businesses, bowling alleys, restaurants, business and professional offices, multifamily residential at a Bruce C.Allen &Associates, Inc. 19043DL.DOC 7 Complelel Su nt ntary r 4-2-080C C. Downtown Core Area: - at L ........... Renton M%P%Lput Airpor,t! iurt Vay -10 N 2nd t A Ob,n A Tobn A_ 7 C, eA S 2nd St S 2nd 5L LLJ S 3rd St 4th StLl 4tM S c 2 -92 relatively high density of 75 to 100 units per acre, theaters, some forms of manufacturing, and community facilities. AW There are various development standards, including a maximum allowed height of ninety-five feet (with special height allowances), maximum lot coverage of 65% to 75% for properties located outside the downtown commercial core if parking is provided within the building or within a parking garage. There is no maximum lot w coverage for properties located with in the downtown core area, as shown by the opposing map.3 There are also various landscaping, setback, and bulk ,. requirements. The subject site falls within the downtown core area. Brief Improvements Description Parcel A is improved with a single-story, concrete-block building, constructed in tr 1963. There is some wood siding and brick veneer exterior finish at various elevations. The building contains 2,908 square feet, according to public records, and is of average quality. The building is leased to Sound Mazda who recently constructed a new dealership on Grady Way. The former dealership, adjacent and to the south of Parcels A/B, was purchased by the City of Renton in conjunction with the Transit Center project. The building on Parcel A had been used as an office for Sound Mazda used cars, but is now used primarily for records storage. According to Tom Williams, the prior use before becoming office space for Sound Mazda was a KFC fast-food restaurant. Interior finish from an exterior inspection consists of carpeting, painted GWB ceilings with recessed can lights, and several private offices. Heat is furnished via forced air units. There is also a ceiling fan to provide additional air circulation. The condition of the roof and mechanical systems is unknown, but is assumed to be adequate and not in need of significant replacement or repair. There are three restrooms in the building. 3 "Downtown core area" is that area bounded by the centerlines of Smithers Avenue South from South 4th Place to South 3rd Avenue and along Morris Avenue South from South 3rd Street to South 2ttd Street, bounded on the north by the Cedar River, east to Mill Avenue South, south to South 4th Avenue and west to Smithers Avenue South. This area shall also extend to the west property line of those properties fronting along the west side of Logan Avenue South between South 2nd and Airport Way, but in no case shall the area extend more than 100' west of the Logan Avenue South right-of-way. Bruce C.Allen &Associates, Inc. 19043DL.DOC 8 Complete I&tit ntary r Parcel B is an asphalt paved parking lot. It is also leased to Sound Mazda for surface parking at an undisclosed rate. Assessed Value The two parcels are assessed for 1999 as follows: i Tax Account Real Estate Number Land Improvements Total Taxes �. Parcel A 569600-0090 $157,000 $54,300 $211,300 $2,825.66 Parcel B 569600-0085 $45,000 $2,500 $47,500 $639.74 r The assessed value of the land for 1999 increased to $9.00 per square foot from the $7.50 per square foot assessment in 1998. Improvement value (Parcel A) decreased $18,300 from $72,600 to the current assessment of$54,300. r Highest and Best Use .. Highest and best use is defined4 as: The reasonably probable and legal use of vacant land or an improved property, which is physically possible, appropriately supported, financially feasible, and that results in the highest value. The subject is currently zoned CD, a mixed commercial zone allowing a wide variety of retail and service uses. Existing development along S. Second and S. Third Streets is mostly retail and service-oriented, consisting of clothing, jewelry, antique and variety shops, restaurants, banks, and auto service and new car dealers. There ,,. are also a few older, single-family residences, some of which have been converted to small office or retail. The newest development in the area is the City of Renton's Piazza project, including a transit center, park and surface parking, which is currently underway. The new 110-unit apartment project is also under construction. Success and rapid lease-up of this facility could result in greater demand for downtown projects by the investor/developer community. 4From. The Appraisal of Real Estate, Tenth Edition, 1992, Appraisal Institute, page 275. Bruce C. Allen &Associates, Inc. 1.9043DL.DOC 9 Complele/Suntntary An excerpt from Renton's Comprehensive Plan outlines the policies designed to enhance downtown Renton: r DOwlttown is an important part of Renton's past, present, and future and these policies strive to emphasize that point. The aim of the policies is to bring retail, office and residential uses back into the downtown in greater amounts and intensities than before. At the sane time there are design criteria a►td bwe►ttives implicit and explicit in the policies to ensure that downtown develops in an efficient and attractive manner. The policies identify appropriate use ►nixes, building heights, and special downtow►t development standards. These should be coordinated with an urban design and transportation plait for downtown. The downtown policies also place a greater emphasis on creating a land use pattern more conducive to pedestrians and transit. ow Encouraging residential ►nixed use development downtown is an important part of the plait strategy for revitalizing downtown, accommodating forecast growth, and providing new housing alternatives. High density housing is also advocated for the downtown to absorb growth and to create a population lit the area to support the mixed use redevelopment envisioned for the area, and to support transit serving dow►ttow►t. Considering the subject site's size, topography, location -- especially its location along one of the primary east/west streets through the CBD -- zoning, and .. neighboring development, highest and best use assuming assemblage with parcels to the south is some sort of mixed-use development. Zoning allows multifamily • residential up to a density of one hundred units per acres in the core area, but does not allow ground floor residential. Highest and best use "as if vacant" therefore, would be ground floor retail with several stories of apartments above. A 5-story building with garage parking could be feasible. Another option would be single-story retail or retail with office above. This option does not maximize potential height, but until the office market strengthens significantly, large-scale office is not feasible. Valuation The subject parcels are valued by comparing recent sales or listings of vacant land near the subject with similar characteristics. Following is a summary of sales that are considered most comparable to the subject site. Comparison of these sales to the subject is complicated because of the various new zones of Renton. There are now six different commercial zones (CS, CD, COR, CN, CA, CC), three industrial 5Can be higher density, up to 150 units per acre, with administrative conditional approval. Bruce C.Allen &Associates, Inc. 19043DL.DOC 10 Complete/Suuuaary Irl 'S7 511�iH ST �i °rcr"rrwrr.r c� N z Q.• c�^'�s .4E-,el�c� 6TH 5T ST 'Z CEMR RlKR > } a C WINDSq . liyc �� srM Rr r'`!h1 SS m nun 'Q z z z i PL N A E _ fi i 126TH ST S NrraRui N H Z ST �No�r HE e" NI +. �S $ L_�S 126THyL a. ` 01 Rs srAoru1 1= }¢ ' o ' o > o cT S s 128TH S WINDSOR 4TH -- ST 128TH I C '� <'t C $ •11 - S7" HILLS PERNOALE N 7 x ST oz A�� PARSE > TO 5 170TH^ m S < 130TH ST �` i LL Sr z RENTON m a a 3RD < < ST m 1 3 = O 0 9G 71 I J 2N PL N ORT y ?ND rai h� Wry A sT N 5 sr ? �- S 132N° 5T W_ _ 2ND s nulcu, �S 5 , �sr zN STS = 4 `J NE 3�0 SCJ S ST 1 o?sV 1100 70B1N ICUH �� o H r9„� loy <'�I 300 __1 - ST aQ 0S qe L HT S S VICTOR( ¢ 134T croRu 7 sr PARK 17 W v /�' H ST N SW 12ND a REN"ON z y s z ,' '. W = S/ 7 o Sy } - —�? W ,P -� ¢> LIBERTY 4A 3i TN 7 ^ LANG a VGS p z PARK x ? OL I VET `1 3 N a1 > SW 2 i S 4 CEDAR ,. /3 CEMETERY �j H u�rcra d a NO?L 100 ° 0 J v SM 1'PARK J PARK = G' �_-RIVER.. .�.PARKRfOE W'Q� C '] N R a SUN H ���c4s F 6 .t t, SN rH Rle A E'n a o �� J ATH ` x TH CT @ -RED sr pi- �, 9 A BNSF I c ter,. MEYER S APL S w w "'O r RENTON 57H 3 ST ,�e I CENTER G ,,, r- = s STH Mho/ \ L s P� RR u v� °' g J n N y y�' / RIVERV L6 51 g1+ ^+4 A t` tti '` TR 4, a PARK" TH ST rNru s y ¢ S S SW 7TH y P Aa ao 6TH T ATH C7 a I s r z S TH T E �R't N o^ f o w N o RQ 00 H- o N f -CED z> < PARK f z 'a HATE > f w¢ & RIDE w ^ SW ENTON VILLAGEw 5 ._ ^ ARNOLD , a f � 1 H ST GRApY Wy CENTER 1 i x`�. PARK ` SW 2 A S R NTON VILLAGE PL 1St `S. -CATE FpgR RI-.� P'Jqr' 0 300 TN HOLIDAY INN rn V�h SW < o 13TH ���� `•` p A 1 z cr 9 f'Z a Z > 51 � N ZG. SW\ _ 16TH 1 ST $W anRr s R cr S '<F` 31 STH 2� ��N \GA TEo�P1 Cr SE o aoo 16TH ST< ;o y S 16TH ST o� �� O�SEy� S n N �' `!' `!• SE -16TH 01mI x w S d $may 4f✓ c cz r T > ° , J W :t 7TH cr N �� d K GA I o f .i v Q o o v r+< *i, .p o S 187H ST '<SE 1TH �'Q dr 1 r o I fri.7 phL� v o SW 19TH ST -<1'9 v ST o � CT q ST r` ALBOT O F-m g lBj� i n Qd``� �`SF�y SE 157TH ST LQ PAN"O S 20T PL ��?0 HILL �� Z n m L E SE S Ty S7 `�' f �1� ssttsrs <> �� PARK A S �� ROL ? Nis A�s� p�typ f I CREEK SW i 21ST ST 00 PUG ET DP W �S Ct ST cT+` A° 1y Q VETLAos va Val aSE 21St g ,W aC ~119 ,0�,t, r f SW 23RD s zzNOP S s spPL= �w SE 21ST 5T v o- SF 1160tH ST f S -23RD 3� ST SE2ND 7W-ASW Fo WrrMID > 7;N qTs 9 S -) 62ND a' 'a ST = � e ---- - - 26rN>_��`Gps T r v� w SE 163RD ST~ !g SW 27TH ti #sr srs e^ 5 ti y. f$ 27TH $7 f�SE --_. -...4TH_ N - t r .: ST 4TC �t 2r� s r a' J j w�10900 - T11100 T - $E 164TH , S TH pL S PPj s SH CT `z S 28TH_ST;<' y + <,, 11700 �'RENTON i 2STH J, 28 w a'f SE 65TH WETLAND$ PL Ct' 9LS 29tH u E 166TH SE �$29TH 3 ST W 29TH ST Q 5�StS 5 Ot PL U W ST SE 167T1 SF al SE 1667H p� i 1 30 -< q� sL � OTMLT ISW 30TH �f SE ST cKCEK; SE 31ST S7 S 1 r tt 'a a' 29w — --1 ----_ SW 33RD ST I .tnur' j1 D V PL 32ND { 5 PL = ¢ g SE.169TH L SE 169TH ¢ I L S d� < = SE=r170TH ST E 170TH << Land Sales Map -��- 1 Bruce C. Alleu &Associates, I7LC. �r .. zones (IL - Light, IM - Medium, IH - Heavy), in addition to a Commercial Office (CO) zone and a multifamily urban (RM-U) zone. Full details of these sales are retained in our files. Comparable Land Sales Sale Sale Size Price/ ,r Sale Location Date Price (SO sf Zone 1 611-617 S. 3rd Street 03/97 $ 210,000 # 20,160 $ 10.42 CD 2 a) 338 S. 3rd Street 01/97 $ 65,000 5,632 $ 11.54 CD b) 338 S.2nd Street 12/98 $ 85,000 # 5,632 $ 15.09 CD 3 526 S. 2nd Street 07/98 $ 140,000 10,000 $ 14.00 CD 4 215 Burnett Avenue S. 01/98 $ 210,000 12,959 $ 16.20 CD 5 a) 110 Williams Avenue 09/98 $ 485,000 24,000 $ 20.21 RM-U b) 110 Williams Avenue Listing $ 1,071,000 24,000 $ 44.63 RM-U 6 58 Logan Avenue S. 03/98 $ 127,000 8,100 $ 15.68 CD $ 103,000 4 8,100 $ 12.72 i # Analysis price after extracting improvement value. Sale 1 is the sale of a former 1-story automobile dealership showroom building containing 15,066 square feet. A new dealership for Good Chevrolet was recently ~ completed in the Auto Mall area of Renton; this property at the southwest corner of Burnett Avenue and S. 3rd Street was sold to the Good Partnership who has totally remodeled the facility, changing its use to office and restaurant. Although parties were related, it was reported the sale was based on market value. A $10.00 per square foot building shell value is estimated, resulting in a residual land value of $10.42 per square foot. Sale 2 is located at the northwest corner of S. 3rd Street and Whitworth Avenue S. It is a rectangular site with forty-four feet of frontage on S. 3rd Street and was aw improved with a 1937-vintage, 1,562-square-foot, wood-frame warehouse building of nominal value in the earlier January 1997 Sale. The buyer refurbished the building in 1997 and sold it in December 1998 for $124,000 or almost double the price. Allocating a value of $25 per square foot for the building ($39,000) results in .. a land residual value of $85,000 or $15.09 per square foot. The property continues to be used as an automobile repair facility. r. Bruce C.Allen &Associates, bac. 1904.3DL.DOC 11 Complete/Sunurtary i i Sale 3 is located at the northwest corner of S. 2nd Street and Logan Avenue S., directly across the street from the Transit Center. The two 100' x 50' lots are level and improved with a 754-square-foot woodframe building constructed in 1949, which does not contribute value. It is currently vacant but was formerly used by .. Renton Auto Electric. Sale 4 is another purchase by the City of Renton for the Transit Center project. The site is 12,959 square feet and had an old house on it that has since been demolished. Sale 5 is a 120' x 200' site located along the east side of Williams, approximately 300 feet north of S. 2nd Street. The site was purchased by MKD in September of 1998 for $485,000. Plans and permits for a 63-unit apartment building, including .. parking garage, were subsequently obtained, and the site is now listed for $17,000 per unit, of which approximately $2,000 per unit can be attributed to plans and i permit value resulting in an asking price equivalent to $39.38 per square foot — clearly overpriced based on the recent acquisition. According to the listing agent, this site has soil issues because it was riverbottom at one time and construction will • require use of piers. Sale 6 is located 100 feet north of Tobin along the east side of Logan Avenue S. The site is level at street grade and is improved with a 1,200-square-foot, metal-clad .. office/warehouse constructed in 1976. Allocating $20 per square foot for the building value results in a land only price of approximately $12.72 per square foot. Comparative Analysis Sales 1 and 2 are representative of a few older CBD sales, but each has improvements that continue to be used. A $10.00 per square foot building shell .. value was deducted from the sales prices of Sale 1, resulting in a "land only" value indication of$10.42 per square foot. Sale 2 also has improvements that continue to be used and was, in fact, renovated by the 1997 buyer. Sale 3 is a good sale of a corner at $14.00 per square foot, assuming no value contribution by the small building. Sale 4, at $16.20 per square foot, was a recent purchase by the City for i the Transit Center project and is adjacent to the subject parcel. Sale 5 is just outside the downtown core area but has a high-density apartment zone. The listing Bruce C.Allen &Associates, Inc. 19043DL.DOC 12 Complele/Sunemary price appears to be inflated. Sale 6 is somewhat north of the establishing downtown area. Consequently, an upward adjustment is appropriate to the indicated $12.72-per-square-foot land value. Recognizing the zoning of the subject allowing intensive development, assemblage potential, and location in the transitioning CBD, the sites are valued at $15.00 to $16.00 per square foot depending on frontage. In addition to these sales north of S. 3rd Street, three other sales were found of older dilapidated houses on 4,800-square-foot lots, zoned CD. The sales occurred in 1998. All three are between S. 3rd and S. 4th Streets and front Morris or Whitworth Avenue. The sale prices ranged from $89,000 to $115,000, or $18.73 to $23.96 per square foot of site area without considering house value. All three houses appear to be occupied, although the one house selling at the low end of the range is in very poor condition. Land value conclusions are as follows: Parcel A: Williams 17,450 sf @ $16.00/sf = $280,000 Parcel B: Jasper 5,000 sf @ $15.00/sf = $75,000 Income Approach — Parcel A As land values rise and the improvements age and become physically deteriorated, they tend to lose value. It is a well-known fact that many more buildings are torn down than fall down from structural failure due to age. Improvements cease to have value when the return provided (income generated) no longer provides a fair ,.� return on the land value. When this occurs, the buildings are usually demolished and redevelopment occurs. In order to determine whether or not the building on Parcel A contributes value, an abbreviated income analysis is done. According to the lease addendum furnished by Larry Wearn, the current lease rate i to S&K Motors dba Sound Mazda is for a term of three years. The CPI-adjusted rent from March 1, 1998 to February 28, 2001 is $2,183.40 per month. This rent is equivalent to $9.01 per square foot per year. The lease is reported to be triple net. A survey of rental rates charged for small office and retail buildings in the Bruce C.Allen &Associates, Inc. 1904.?DG.DOC 13 Complete/Summary downtown core area indicated a general range of$8.00 to $14.00 per square foot per year, depending on age, quality, and conditions of the building. The specific location within the downtown core area is also a primary factor affecting rental rates. Considering the subject's condition and location, and also recognizing the abundant „r on-site parking, economic rent is forecast at $10.00 per square foot triple net. An abbreviated income analysis is: Gross Rent 2,908 sf @ $10.00 /sf = $29,080 Less: Vacancy at 5% (1,450) Effective Gross Income $27,630 Less: Expenses at 3% (830) r Net Operating Income $26,800 .. Capitalization using an overall rate of 9.0% results in a value indication of$300,000 (rounded). This value is slightly higher than the land value if vacant, indicating the improvements have a limited, remaining economic life. As exhibited by several of the sales in the downtown area, extraction of improvement value is somewhat subjective, as there are very few examples of purchase demolition and redevelopment. A potential purchaser of Parcel A could choose to owner/occupy or rent the existing improvements for an interim period of, say, one to five years, while downtown Renton matures. Considering the new development in Renton, which will tend to enhance value and the functional utility of the existing building, as of March 3, 1999, the value of Parcel A is, in my opinion: THREE HUNDRED THOUSAND DOLLARS ($300,000) The value of Parcel B, a vacant site, is: SEVENTY FIVE THOUSAND DOLLARS ($75,000) Bruce C.Allen &Associates, Inc. 1904.?DG.DOC 14 Complete/Suranwry r .. CERTIFICATION OF VALUE I, the undersigned, do hereby certify that I have personally inspected the property located at 603 S. 2nd Street and 204 Logan Avenue S. in Renton, Washington, and have prepared the analyses, opinions, or conclusions of value. To the best of my knowledge and belief, the statements of fact contained in this report and upon which the opinions herein are based are true and correct, subject to the assumptions and limiting conditions explained in the report. Employment in and compensation for making this appraisal are in no way contingent upon the value reported; it was not based on a requested minimum valuation, a specific value, or the approval of a loan. I certify that I have no interest, either present or contemplated, in the subject property. I have no personal interest or bias with respect to the subject matter of the appraisal report or the parties involved. I certify that, to the best of my knowledge and belief, 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 the Standards of Professional Appraisal Practice of the Appraisal Institute, as well as in conformance to the USPAP adopted by the Appraisal Standards Board of the Appraisal Foundation. This appraisal report identifies all of the limiting conditions (imposed by the terms of my assignment or by the undersigned) affecting the analyses, opinions, and conclusions contained in this report. .. No one other than the undersigned, with the exception of the person(s) shown on additional certification(s) if enclosed, prepared the analysis, opinions, or conclusions concerning real estate that are set forth in this appraisal report. I certify that the use of this report is subject to the requirements of the Appraisal Institute relating to review by its duly authorized representatives. As of the date of this report, I have completed the requirements of the continuing education program of the Appraisal Institute. In my opinion, the market value of the fee simple fee interest in the subject properties, as of March 3, 1999 is: Parcel A — Williams/Hiatt THREE HUNDRED THOUSAND DOLLARS ($300,000) Parcel B - Jasper SEVETY FIVE THOUSAND DOLLARS ($75,000) r Denise M. Lane, MAI State Cert.#LA-NE-*D-M442PT ..r Bruce C.Allen &Associates, Inc. 190/3DL 15 Contplelel&tit ntary r Addenda Bruce C.Allen &Associates, Inc. 19043DL.DOC Complete/Sicunmary i QUALIFICATIONS DENISE M. LANE. MAI Experience Engaged in the real estate appraisal profession since 1980; awarded the MAI designation in 1987. Appraisal expertise covers a wide variety of property types, including apartment i buildings, commercial and industrial real estate, subdivision analysis, highest and best use studies, partial interest (leasehold/leased fee), condemnation, and special purpose, including schools, medical office, auto dealerships, and retirement apartments. i 1983 to Present: Vice President of Bruce C. Allen & Associates, Inc., located in Bellevue, Washington. Responsibilities include appraisal of all forms of commercial and industrial real estate, with special emphasis on discounted cash flow valuation techniques using LOTUS, EXCEL, PRO-JECT and ARGUS (lease analysis) programs. i 1980 to 1983: Staff Appraiser for American Appraisal Associates, Inc., located in Seattle, Washington. Responsibilities included valuation of various commercial and industrial properties, with a heavy emphasis on special-purpose. i Education University of Washington, Business Administration The Appraisal Institute conducts a program of continuing education for its designated members. MAIs who meet the minimum standards of this program are awarded periodic educational re-certification. I am currently certified under this program through December 1998. Courses - AIREA, R.E. Appraisal Principles, 1980 i AIREA, Capitalization Theory and Techniques, 1981 AIREA, Basic Valuation Procedures, 1981 AIREA, Case Studies in R.E. Valuation, 1984 AIREA, Standards of Professional Practice, 1985, 1993 AIREA, Report Writing, 1992 i Seminars - AI, Valuation Trends, Appraising in the 90's, 1992 i AI, Appraisal Review Symposium, 1992 Al, FIRREA Overview & Practical Application, 1993 Al, Apartment Complex Valuation, 1993 i CRE, 1993 High Level CRE Conference i Bruce C. Allen &Associates, Inc. 19043DL.DOC Complete/Summary QUALIFICATIONS DENISE M. LANE, MAI (cont.) .. Other Qualified as expert witness in King County Superior Court. ! Work in Washington state has been performed in King, Snohomish, Pierce, Kitsap, Skagit, and Thurston Counties. Have appraised in the States of Washington, Oregon, Idaho, Montana, Alaska, California, Utah, Texas, and New York. Professional Affiliations MAI (Member of the Appraisal Institute) ! Washington State Real Estate Sales License Member, CREW (Commercial Real Estate Women) Regional Representative for Appraisal Institute, 1994-1995 r. Partial Client List Attorney General's Office Football Northwest Anchor Savings Bank Frontier Bank Bank of America Intrawest Savings Bank +• Cascadia Development Corp. Key Bank of Washington Citybank Kidder Mathews & Segner City of Bellevue King County Housing Authority ! City of Des Moines McCaugherty Development Corp. City of Issaquah Metro City of Kent Mitsubishi City of Renton Puget Power Clay Enterprises Rabanco Construction Lending Corp. of America Seattle School District Continental Savings Bank Skillingstad Construction .. Covenant Mortgage Corp. US Bancorp Development Services of America US Bank of Washington Edmonds School District Various Local Attorneys Everett Mutual Bank Virginia Mason Medical Center ! FDIC Weyerhaeuser Company First Mutual Bank Windermere Real Estate State Certification Number - General: LA-NE-*D-M442PT Expiration: 10/30/99 r 11/06/97 Bruce C. Allelt &Associates, Inc. 19043DL.DOC Complete/Summary Rentorl Historical Society/Museu` i AC-031 235 Mill Avenue South, Renton,Washington 98055-2133 206/255-2330 Deed of Gift Source: Hugh and Gertrude Adams Via City of Renton Street: 10.55 South Grady Way City: Renton State: WA Zip: 98055 Phone: 1 hereby give, convey, and assign to the Renton Historical Society all of my right, title, and interest in the property hereafter described, and give it as an outright and unconditional gift,free and clear of restrictions or agreements to be used or disposed of by the Society in its sole discretion. I hereby represent that the materials contained in this gift were, to the best of my knowledge and belief, acquired legally and without encumbrance, and that I have the legal authority to transfer ownership to the Society by this deed of gift. It is clearly understood by me that it is my purpose and intention to vest any and all the incidents of absolute ownership, including but not limited to, all rights of copyright, of the property described below to the Renton Historical Society from the date of this document forward. In witpqs whereof, I have executed this deed on the 18th of April, 2001 ATTEST:Qe' — .yam City resentative Je se anner, Mayor CityRepresentative ar yn J. Petersen, City Clerk Re on Histo ical S ery resentative Accession No. Description 1998.027.001 PRINT, PHOTOGRAPHIC. Documentary Artifact\Communications Artifacts, Category 8: The Hugh and Gertrude Children, Including the Lackie children at their Burnett Street home: L-R: Hugh, Larry, Mary Jane (smallest girl) Mickey (small boy in middle), Tony (on far right). The other two girls are unknown. Image #4885 1998.027.002 PRINT, PHOTOGRAPHIC. Documentary Artifact\Communications Artifacts, Category 8:L-R: John, Hugh, Mary Jane, and Janet Adams, circa 1935. Image #4886 1998.027.003 PRINT, PHOTOGRAPHIC. Documentary Artifact\Communications Artifacts, Category 8:L-R: Janet and Mary Jane Adams, circa 1935. Image #4887 1998.027.004 PRINT, PHOTOGRAPHIC. Documentary Artifact\Communications Artifacts, Category 8: Hugh, Mary Jane, and John Adams, circa 1926. Mary Jane is an infant. Image #4888 1998.027.005 PRINT, PHOTOGRAPHIC. Documentary Artifact\Communications Artifacts, Category 8: L-R: Mickey Lackie, an unidentified neighbor girl, Mary Jane Adams, behind Their 0O[Ply home on Butt Street c. 1935?. Senior Ade, ' home in the immediate background. Image #4889 1998.027.006 PRINT, PHOTOGRAPHIC. Documentary Artifact\Communications Artifacts, Categgory 8: Unidentified little girl on back porch of 215 Burnett Street home of the Frugh Adams family, circa 1940. Image #4890 1998.027.007 PRINT, PHOTOGRAPHIC. Documentary Artifact\Communications Artifacts, Category 8: A woman named Roberta (Fritz) McDonald a friend of the Adams, circa 1940. Image #4891 1998.027.008 PRINT, PHOTOGRAPHIC. Documentary Artifact\Communications Artifacts, Category 8: Members of the John & Janet Adams family stand In in front of the senior Adams home, circa 1923. L-R: Janet, John Sr., Hugh, Gertrude (gall children unidentified); Image #4892 1998.027.009 PRINT, PHOTOGRAPHIC. Documentary Artifact\Communications Artifacts, Category 8: Hugh Adams standing behind the senior Adams's home in Renton, circa 1925. Image #4893 1998.027.010 PRINT, PHOTOGRAPHIC. Documentary Artifact\Communications Artifacts, Category 8: Gertrude Lackie Adams, a nurse standing in Roslyn, Washington in 1923. Image #4894 1998.027.011 PRINT, PHOTOGRAPHIC. Documentary Artifact\Communications Artifacts, Category 8: Hugh Hay Adams, MD, a mine doctor standing in Roslyn, Washington circa 1923. Image #4895 1998.027.012 PRINT, PHOTOGRAPHIC. Documentary Artifact\Communications Artifacts, Category 8: L-R: Janet, John Adams; Gertrude Adams, unknown woman and child, circa 1925. Location of house in rear? Image #4896 1998.027.013 PRINT, PHOTOGRAPHIC. Documentary Artifact\Communications Artifacts, Category 8: The Dr. Hugh Adams family, including wife Gertrude and Mary Jane Adams circa 1938. Image #4897 1998.027.014 PRINT, PHOTOGRAPHIC. Documentary Artifact\Communications Artifacts, Category 8: Parade in the streets of downtown Renton circa 1935. Image #4898 1998.027.015 PRINT, PHOTOGRAPHIC. Documentary Artifact\Communications Artifacts, Category 8: L-R: Gertrude (Lackie) Adams with unidentified friend. date unknown. Image #4899 1998.027.016 PRINT, PHOTOGRAPHIC. Documentary Artifact\Communications Artifacts, Category 8:L-R: Mary Jane Adams and Katie Gilligan ona boardwalk, where? when? Image #4900 1998.027.017 PRINT, PHOTOGRAPHIC. Documentary Artifact\Communications Artifacts, Category 8: L-R: Mary Jane Adams and Margaret Anne Hurt in Europe with Hugh and Gertrude. Summer, 1949. Image #4901 1998.027.018 PRINT, PHOTOGRAPHIC. Documentary Artifact\Communications Artifacts, Category 8: L-R: Mary Jane Adams and Larry Lackie in 1941 at the Burnett Street home. Image #4902 1998.027.019 PRINT, PHOTOGRAPHIC. Documentary Artifact\Communications Artifacts, Category 8: First Communion ceremony/parade at St. Anthony's Church, 1947-48. Under stained glass window is Larry Lackie, with Margaret Lackie standing to the right. Image #4903 1998.027.020 PRINT, PHOTOGRAPHIC. Documentary Artifact\Communications Artifacts, Category 8: First Communion ceremony/parade at St. Anthony's Church, 1947-48. Image #4904 1998.027.021 PRINT, PHOTOGRAPHIC. Documentary Artifact\Communications Artifacts, Category 8: Circa 1925, Mary Jane Adams, Hugh Adams and neighbor in North Renton address. Looking over towards Earlington hill. Image #4905 1998.027.022 PRINT, PHOTOGRAPHIC. Documentary.Artifact\Communications Artifacts, Category 8: Mary Jane Adams, age 2 approx. is at the Hugh and Gertrude Adams home in North Renton, circa 1925. Image #4906 1998.027.023 PRINT, PHOTOGRAPHIC. Documentary Artifact\Communications Artifacts, Category 8: Circa 1925. Huqh Adams' North Renton home looking over to Logan Street bridge and Earlington hili to the west. Image #4907 1998.027.024 PRINT, PHOTOGRAPHIC. Documentary Artifact\Communications Artifacts, Category 8: Circa 1925. Hugh Adams' North Renton home. Image #4908 '1998.027.025 PRINT, PHOTOGRAPHIC. Documentary Artifact\Communications Artifacts, Category 8: Circa 1925. Hugh Adams' North Renton home, Hugh with baby Mary Jane. Circa 1930. Image #4909 1998.027.026 PRINT, PHOTOGRAPHIC. Documentary Artifact\Communications Artifacts, Category 8: 215 Burnett Street House, circa 1930. On porch is Hugh, Mickey Lackie, Gertrude and Mary Jane Adams. Image #4910 1998.027.027 PRINT, PHOTOGRAPHIC. Documentary Art ifact\Communications Artifacts, Category 8: At Hugh Adams Burnett Street House, circa 1930. Senior Adams' house is on the left. Image #4911 1998.027.028 PRINT, PHOTOGRAPHIC. Documentary Artifact\Communications Artifacts, Category 8: Rear of Bronson Hospital, circa 1938,Dr. Hugh Adams front row on left. Image #4912 1998.027.029 PRINT, PHOTOGRAPHIC. Documentary Artifact\Communications Artifacts, Category 8: Gertrude (Lackie) Adams, RN. circa 1950. Image #4913 1998.027.030 PRINT, PHOTOGRAPHIC. Documentary Artifact\Communications Artifacts, Category 8: Hugh Hay Adams, MD. circa 1950. Image #4914 1998.027.031 PRINT, PHOTOGRAPHIC. Documentary Artifact\Communications Artifacts, Category 8: Hugh Adams with daughter Mary Jane and an unidentified neighbor and child at North Renton home, circa 1925. Image #4915 1998.027.032 PRINT, PHOTOGRAPHIC. Documentary Artifact\Communications Artifacts, Category 8: Tony Lackie in front of 215 Burnett Street, circa 1945. Image #4916 1998.027.033 PRINT, PHOTOGRAPHIC. Documentary Artifact\Communications Artifacts, Category 8: Archie Adams and wife, circa 1950. Image #4917 1998.027.034 PRINT, PHOTOGRAPHIC. Documentary Artifact\Communications Artifacts, Category 8: Archie Adams and wife, circa 1950. Image #4918 1998.027.035 PRINT, PHOTOGRAPHIC. Documentary Artifact\Communications Artifacts, Category 8: Hugh Carney, Dr. Carney's brother. Image #4919 1998.027.036 PRINT, PHOTOtti..�\PHIC. Documentary Artifact\Cor nications Artifacts, Category 8: L-R: Hugh an�Gertrude Adams, circa 1940 at the Adam's Burnett Street home. Image #4920 1998.027.037 PRINT, PHOTOGRAPHIC. Documentary Artifact\Communications Artifacts, Category 8: Hugh Adams holding boat at Pozzi's Resort, which is located southeast of Renton near Lake Young. In the middle of the boat is an unidentified boy and Mary Jane Adams in stern or rowboat. Image 41,4921 1998.027.038 PRINT, PHOTOGRAPHIC. Documentary Artifact\Communications Artifacts, Category 8: Mary Jane Adams in girl scout uniform, late 1940s. Image #4922 1998.027.039 PRINT, PHOTOGRAPHIC. Documentary Artifact\Communications Artifacts, Category 8: Margaret Anne Hurt, Gertrude & Hugh Adams in Europe, summer 1949. Image #4923 1998.027.040 PRINT, PHOTOGRAPHIC. Documentary Artifact\Communications Artifacts, Category 8: Dr. John Carney on left holding one of his children, Lillian Carney, Dr. Carney's sister on the right with the tam on her head, and in the middle, Malcolm MacKenzie, dressed in a kilt that her acquired from his sisters who still lived in Scotland and who gave it to him on one of his trip to his family's homeland. MacKenzie preformed at numerous Scottish gatherings both at the Adams's home and around the Renton community for may years. Image #4924 1998.027.041 PRINT, PHOTOGRAPHIC. Documentary Artifact\Communications Artifacts, Category 8: Gramma Adam's funeral, 1937 site, John Adams is sitting in the background. Image #4925 1998.027.042 PRINT, PHOTOGRAPHIC. Documentary Art ifact\Communications Artifacts, Category 8: Possibly a Lackie child. Image #4926 1998.027.043 PRINT, PHOTOGRAPHIC. Documentary Artifact\Communications Artifacts, Category 8: Gertrude Lackie in front of a Packard. The woman behind her is unidentified as is the location. Image #4927 1998.027.044 PRINT, PHOTOGRAPHIC. Documentary Artifact\Communications Artifacts, Category 8: Lackie, Gertrude's brother's daughter. Image #4928 1998.027.045 PRINT, PHOTOGRAPHIC. Documentary Artifact\Communications Artifacts, Category 8: Nurses in the Bronson Memorial Hospital maternity ward. L-R: unkown nurse who was there for a long time; Gertrude Adams, unknown, unknown. Image #4929 1998.027.046 PRINT, PHOTOGRAPHIC. Documentary Artifact\Communications Artifacts, Category 8: Nurse at Bronson Memorial Hospital. Image #4930 1998.027.047 PRINT, PHOTOGRAPHIC. Documentary Artifact\Communications Artifacts, Category 8: Nurse at Adams' home at 215 Burnett. Image #4931 1998.027.048 PRINT, PHOTOGRAPHIC. Documentary Artifact\Communications Artifacts, Category 8: Dr. Larry Lackie's first dental office in the Bronson Memorial Hospital. 1947. Image #4932 1998.027.049 PRINT, PHOTOGRAPHIC. Documentary Artifact\Communications Artifacts, Category 8: Hugh and Gertrude Adams, possibly in Roslyn, circa 1923. Image #4933 1998.027.050 PRINT, PHOTOGRAPHIC. Documentary Artifact\Communications Artifacts, Category 8: Dr. Hugh Adams, MD,just graduated from medical school. Image #4934 1998.027.051 PRINT, PHOTOC,. ,:,PHIC. Documentary Artifact\Connications Artifacts, Category 8: Hugh Adams nd his packard. Image #4935 1998.027.052 PRINT, PHOTOGRAPHIC. Documentary Artifact\Communications Artifacts, Category 8: Unidentified woman in front of Hugh Adams home in North Renton, circa 1925. Image #4936 1998.027.053 PRINT, PHOTOGRAPHIC. Documentary Artifact\Communications Artifacts, Category 8: Huggh, Larry, Teresa, Tony, Mickey, and child Mary Jane Adams behind 215 Burneft. Image #4937 1998.027.054 PRINT, PHOTOGRAPHIC. Documentary Artifact\Communications Artifacts, Category 8: Janet Adams in 1945. Image #4938 1998.027.055 PRINT, PHOTOGRAPHIC. Documentary Artifact\Communications Artifacts, Category 8: Hugh and Gertrude Adams on wedding day, August 4th, 1923. First setting of four. Image #4940 1998.027.056 PRINT, PHOTOGRAPHIC. Documentary Artifact\Communications Artifacts, Category 8: Hugh and Gertrude Adams on wedding day, August 4th, 1923. Second setting of four. Image #4941 1998.027.057 PRINT, PHOTOGRAPHIC. Documentary Art ifact\Communications Artifacts, Category 8: Hugh and Gertrude Adams on wedding day, August 4th, 1923. Third setting of four. Image #4942 1998.027.058 PRINT, PHOTOGRAPHIC. Documentary Artifact\Communications Artifacts, Category 8: Hugh and Gertrude Adams on wedding day, August 4th, 1923. Fourth setting of four. Image #4943 1998.027.059 PRINT, PHOTOGRAPHIC. Documentary Artifact\Communications Artifacts, Category 8: Mary Jane Adams and Mike LaJoy on wedding day at St. Anthony's church in Renton. Image #4944 1998.027.060 PRINT, PHOTOGRAPHIC. Documentary Artifact\Communications Artifacts, Category 8:Mary Jane Adams standing behind her 215 Burnett Street home, circa 1940. RHS Special Collections Image #4945 Image #4945 1998.027.061 PRINT, PHOTOGRAPHIC. Documentary Artifact\Communications Artifacts, Category 8: Hugh Adams, MD in front of his packard coup in Roslyn, c. 1923. Image #4946 1998.027.062 PRINT, PHOTOGRAPHIC. Documentary Artifact\Communications Artifacts, Category 8: Hugh Adams, MD in front of his Packard coup in Roslyn, c. 1923. Image #4947 1998.027.063 PRINT, PHOTOGRAPHIC. Documentary Artifact\Communications Artifacts, Category 8: The Adams and Lackie children behind Renton's Bronson Memorial Hospital, circa 1932. Image #4948 1998.027.064 PRINT, PHOTOGRAPHIC. Documentary Artifact\Communications Artifacts, Category 8: Mary Jane Adams. Image #4949 1998.027.065 PRINT, PHOTOGRAPHIC. Documentary Artifact\Communications Artifacts, Category 8: Hugh and Gertrude Adams behind their home at 215 Burnett Street., circa 1960. Image #4950 1998.027.066 PRINT, PHOTOGRAPHIC. Documentary Artifact\Communications Artifacts, Category 8: Panoramic snow storm winter view of the back yard of the 215 Burnett Adams house. Standir;, ,)n the back porch and looking Stile first frame is taken (a) and moving west to north west, b,c,d, and then due nor , e,f, and finally so that one is looking out the driveway to Burnett street to the east in frame g. Circa 1940s or 30s. Image #4951 a-g. 1998.027.067 PRINT, PHOTOGRAPHIC. Documentary Artifact\Communications Artifacts, Category 8: Hugh and Gertrude Adams, November 1944. Image #4952 1998.027.068 PRINT, PHOTOGRAPHIC. Documentary Artifact\Communications Artifacts, Category 8: Teresa, Tony, Larry, Hugh, Mickey (turning away), Gertrude Adams in center, Mary Jane Adams seated with unidentified woman in front of 215 Burnett home. Image #4939 1998.027.069 PRINT, PHOTOGRAPHIC. Documentary Artifact\Communications Artifacts, Category 8: Teresa Lackie (larger child) with Mary Jane Adams (infant) in front of the Hu h and Gertrude Adams home in North Renton, circa 1931 . House is just over the bridge, second block. Image #4951 1998.027.070 PRINT, PHOTOGRAPHIC. Documentary Artifact\Communications Artifacts, Cate ory 8: Mary Jane Adams, circa 1931, at the Adams's North Renton home. The struCTure in the background was the home of John Adams, Hugh's older brother, who lost his hearing to scarlet fever. Image #4952 1998.027.071 PRINT, PHOTOGRAPHIC. Documentary Artifact\Communications Artifacts, Category 8: (R-L) Teresa Lackie, (the rest are unidentified children), with Gertrude Adams in the back, all poised in front of the Adams's 1929 Packard in background. This could have been in 1931-1932. As the Lackies joined the Adams family after Mary Jane arrived. Image #4953 1998.027.072 PRINT, PHOTOGRAPHIC. Documentary Artifact\Communications Artifacts, Category 8: Tony Lackie with hands around Mary Jane Adams, Teresa Lackie on left, Larry Lackie top left corner, Hugh Lackie center back, and Mickey Lackie right top corner, all sitting behind the 1929 Packard in about 1931-32. Image #4954 1998.027.073 PRINT, PHOTOGRAPHIC. Documentary Artifact\Communications Artifacts, Category 8: Mary Ann Lackie (big girl) with Mary Jane Adams standing behind the 215 Burnett Adams home circa 1932-33. In the background is the home of John and Janet Adams Senior. Image #4955 1998.027.074 PRINT, PHOTOGRAPHIC. Documentary Artifact\Communications Artifacts, Category 8: L-R in a circle counter clockwise: Teresa, Larry, Hugh, Tony and Mickey Lackie, standing with Mary Jane Adams (with curls) in front of the Adams's 1929 Packard, circa 1 1133. Building in the background is suspected as being the Bronson Memorial Hospital's backside. Image #4956 1998.027.075 PRINT, PHOTOGRAPHIC. Documentary Artifact\Communications Artifacts, Category 8: Group of kids standing beside the 1908 Adams home circa 1930. Tallest kid in back is Larry Lackie, in front of him is sister Teresa, and the rest of the Lackies are there too, with an unidentified neighbor girl (blond hair). Image #4957 1998.027.076 PRINT, PHOTOGRAPHIC. Documentary Artifact\Communications Artifacts, Category 8: Mary Ann Lackie with tam, standing in front of 1908 Adams home. A cousin named Johnson from Montana is standing next to her. - Circa 1933. Image #4958 1998.027.077 PRINT, PHOTOGRAPHIC. Documentary Artifact\Communications Artifacts, Category 8: Pozzi's Resort, front to back of boat, Teresa Lackie, Dr. Hugh Adams, Larry Lackie, Hugh.Lackie (in between boys) and unidentified boy, circa 1933. Image #4959 1998.027.078 PRINT, PHOTOGRAPHIC. Documentary Artifact\Communications Artifacts, Category 8: Pozzi's Resor' front to back of boat, Hugh LackiF, Dr. Hugh Adams rowing, Larry Lackie (fixing b ), and two unidentified boys in the,..,,,;ck of the boat. Circa 1933. Image #4960 1998.027.079 PRINT, PHOTOGRAPHIC. Documentary Artifact\Communications Artifacts, Category 8: Pozzi's Resort, front to back of boat, Aunt Sister Maria, Mike Yewchinski, owner a place on the lake up to the right of the PRINT, PHOTOGRAPHIC. Circa 1933. Image #4961 1998.027.080 PRINT, PHOTOGRAPHIC. Documentary Artifact\Communications Artifacts, Category 8: The Lackie children at Pozzi's Resort on a float, includin a cousin, Cecil Lackie on right, John Lackie on left, Tony on top of the post (highest and the two boys in front of him remain unidentified. Circa 1933-34. Image #4962 1998.027.081 PRINT, PHOTOGRAPHIC. Documentary Artifact\Communications Artifacts, Category 8: Dr. Hugh Adams with daughter Mary Jane behind the 1908 Adams home at 215 Burnett, circa 1932-33. Mickey Lackie is to the left, woman to his left is daughter of John Adams, Hugh's deaf older brother, and she used to take care of the little kids of the Adams family. Image #4963 1998.027.082 PRINT, PHOTOGRAPHIC. Documentary Artifact\Communications Artifacts, Category 8: Mary Jane Adams on a trike, behind the 1908 Adams home at 215 Burnett, circa 1932-33. Image #4964 1998.027.083 PRINT, PHOTOGRAPHIC. Documentary Artifact\Communications Artifacts, Category 8: Mary Jane Adams, smallest, Mary Euchinski, which is Mike Yewchinski's daughter standing to left of Mary Jane, and Mary Ann Lackie, standing to the right with hand over face. Smallest child is Mike's niece, who is unidentified. Taken of 1908 Adams home at 215 Burnett, circa, 1933. Image #4965 1998.027.084 PRINT, PHOTOGRAPHIC. Documentary Artifact\Communications Artifacts, Category 8: Mary Jane Adams in cast (she had a bone condition that this cast stabilized) and Dr. Hugh Adams, circa 1931-32. in front of Adams's 1908 home on Burnett. Image #4966 1998.027.085 PRINT, PHOTOGRAPHIC. Documentary Artifact\Communications Artifacts, Category 8: Dr. Hugh and Gertrude Adams, circa 1930 just after getting Mary Jane. In Renton. Image #4967 1998.027.086 PRINT, PHOTOGRAPHIC. Documentary Artifact\Communications Artifacts, Category 8: Hugh Lackie and wife Betty loading trailer, looking across Burnett to the auto shops, circa 1945. Image #4968 1998.027.087 PRINT, PHOTOGRAPHIC. Documentary Artifact\Communications Artifacts, Category 8: standing next to Bronson Memorial Hospital, looking across the street to Dr. Bronson's old house. Circa 1935-36. Girl in the PRINT, PHOTOGRAPHIC might be Mary Jane Adams. Image #4969 1998.027.088 PRINT, PHOTOGRAPHIC. Documentary Art ifact\Communications Artifacts, Category 8: Archie and Elizabeth Adams with an unidentified chied. Could also be one of the other Adams children, perhaps John. Image #4970 1998.027.089 PRINT, PHOTOGRAPHIC. Documentary Artifact\Communications Artifacts, Category 8: Bicycle belonging to either Mickey Lackie or Mary Jane Adams, circa 1940. Taken in front of the 1908 Adams home on Burnett Street. Image #4971 1998.027.090 PRINT, PHOTOGRAPHIC. Documentary Artifact\Communications Artifacts, Category 8: Gertrude Adams in the early 1960s with the family Cadillac. Image #4972 1998.027.091 PRINT, PHOTOGRAPHIC. Documentary Artifact\Communications Artifacts, Category 8: Dr. Adams orW-7ertrude Adams behind their hom*ftolt 215 Burnett, circa 1955. Image #4973 1998.027.092 PRINT, PHOTOGRAPHIC. Documentary Artifact\Communications Artifacts, Category 8: Dr. Hugh and daughter Mary Jane Adams behind their home at 215 Burnett, circa 1933. Image #4974 1998.027.093 PRINT, PHOTOGRAPHIC. Documentary Artifact\Communications Artifacts, Category 8: Dr. Hugh Adams, circa 1933-35 at the 1908 Adams home on Burnett. Image #4975 1998.027.094 PRINT, PHOTOGRAPHIC. Documentary Artifact\Communications Artifacts, Category 8: Dr. John Carney, standing in the back yard of the 1908 Adams home. Nephew of Gertrude Adams and in the Navy during this period, c. 1945. Image #4976. 1998.027.095 PRINT, PHOTOGRAPHIC. Documentary Artifact\Communications Artifacts, Category 8: Gertrude Adams with daughter Mary Jane at their North Renton home, just after returning to live in Renton. Circa 1931 . Image #4977. 1998.027.096 PRINT, PHOTOGRAPHIC. Documentary Artifact\Communications Artifacts, Category 8: Gertrude Adams with a baby, possibly Mary Jane, but not sure. Appears to have been taken in Roslyn, Washington, circa 1930. Image #4978. 1998.027.097 PRINT, PHOTOGRAPHIC. Documentary Artifact\Communications Artifacts, Category 8: Gertrude Adams seated on the far right end of the table with the St. Anthony's alter guild during the opening of the St. Anthony's School hall in the 1950s. Image #4979. 1998.027.098 PRINT, PHOTOGRAPHIC. Documentary Artifact\Communications Artifacts, Category 8: Gertrude Adams with daughter Mary Jane at their North Renton home, just after returning to live in Renton. Circa 1930-31 . Image #4980. 1998.027.099 PRINT, PHOTOGRAPHIC. Documentary Artifact\Communications Artifacts, Category 8. St. Anthony's Altar Guild. Image #4981 1998.027.100 PRINT, PHOTOGRAPHIC. Documentary Artifact\Communications Artifacts, Category 8: Image #4982 1998.027.101 PRINT, PHOTOGRAPHIC. Documentary Artifact\Communications Artifacts, Category 8: Image #4983 1998.027.102 PRINT, PHOTOGRAPHIC. Documentary Artifact\Communications Artifacts, Category 8: Image #4984 1998.027.103 HOLDER, THREAD: Textileworking T & E \T & E for Materials, Category 4. Copper colored, 3 tiered thread holder with handle. Holds 42 spools of thread. Zierold Mfg. Co. 1998.027.104 PAN, CAKE: Food Processing T & E \T & E for Materials. Category 4. 2 identical 8" round cake pa 'a,b). With movable rods to remc cake layers. 1998.027.105 PAN, CAKE: FooProcessing T & E \T & E for Materials. Category 4. 8" square metal cake pan. Echo No. 601 . 1998.027.106 SPATULA: Food Processing T & E \T & E for Materials. Category 4. Metal spatula with red plastic handle. Androck stainless steel. 10" long. 1998.027.107 KNIFE, PARING: Food Processing T & E \T & E for Materials. Category 4. 6" paring knife with wooden handle. 1998.027.108 OPENER, CAN: Food Processing T & E \T & E for Materials. Category 4. 6" manual can opener with red wooden handle. The Taplin Mfg. Co. 1998.027.109 KEY, SKELTON: Household Accessory\Furnishings. Category 2. 3" key with 2 holes in end. 2. 1998.027.1 10 STRAINER, TEA: Food Processing T & E \T & E for Materials. Category 4. Round metal strainer (2 1/2" diameter) (a) with domed top (b) with chain handle. 1998.027.1 1 1 BOTTLE, TOILET: Toilet Article\Personal Artifacts. Category 3. Glass cologne spray bottle (a) with bell shaped lid (b). Avon Products, Inc. Pear Lumiere - Roses, Roses cologne mist. 2 oz. 1998.027.1 12 SPATULA: Food Processing T & E \T & E for Materials. Category 4. Metal spatula with bottle opener handle. Heart shaped turner. Albers Flapjack Flour and Peacock Buckwheat Flour printed on handle. 1998.027.1 13 COLANDER: Food Processing T & E \T & E for Materials. Category 4. Metal round colander with 2 metal handles. Top - 11 1/2" diameter, bottom - 6 1/2" diameter. 4'' tall. 1998.027.1 14 CHOPPER, FOOD: Food Processing T & E, \ T & E for Materials. Category 4. Automatic King-size "Roto-Chop" food chopper. In original clear plastic wrapper - never used. Chopper part is 5" by 4 1/2" diameter with 4 1/2" handle with blue plastic tip. 1998.027.1 15a,b JAR, COSMETIC: Toilet Articles \ Personal Artifacts, Category 3. a-Green, glass jar that contained Avon perfumed skin softener - Regence. b- Lid - also trimmed in green. 3 1/2" diameter, 2 1/4" tall. 1998.027.1 l6a,b JAR, COSMETIC: ' Toilet Articles \ Personal Artifacts, Category 3. a-White, glass jar that contained Seaforth solid deodorant - Scotch Heather. b-Lid - Black metal. 2'' diameter, 3 3/4" tall. 1998.027.1 17a,b JAR, COSMETIC: Toilet Articles \ Personal Artifacts. Category 3. a-Round, green, plastic powder container with scalloped design. b-Lid for container with rose design on top that is painted red. 3 1/2" diameter, 1 3/4" tall. 1998.027.1 18a-c CONTAINER, COSMETIC: Toilet Articles \ Personal Artifacts. Category 3. a- Round, paper container for MINIPOO dry shampoo. 4 3/4" tall, 1 7/8" diameter. b- Box for the MINIPOO shampoo container - green with face and long red hair. c- Shampoo direction sheet. 1951 . 1998.027.119a,b RAZOR, ELECTRIC: Toilet Articles \ Personal Artifacts, Category 3. a- Remington 300 electric razor. Model CV-3. 5 adjustments plus Clean. 2 1/2" x 1 1/2" x 3 1/2. Black with silver trim. b- Electric cord for razor. 1998.027.120 RAZOR, ELECTRIC: Toilet Articles \ Personal Artifacts, Category 3. Norelco electric Speedshaver. Gray and white plastic. 06961 179. 1998.027.121 a,b JAR, COSMETIC: Toilet Articles \ Personal Artifacts, Category 3. a- White, glass, WASHCARE jar - Facial washing cream. 2'' tall, 1 1/2'' diameter. White and green paper label. b- White, plastic lid forjar. 1998.027.122a,b GLASS, FOLDING: Toilet Articles \ Personal Artifacts, Category 3. a- Pink, plastic folding glass to keep in a purse. 2 1/2'' tall, 2 1/4" diameter. b- Lid for glass with silver floraldecorations on top. 1998.027.123a-c BOX, POWDER: Toilet Articles \ Personal Artifacts, Category 3. a- Paper dusting powder box - Clavel de Espana, Myrurgia, Espana. 4 1/4 diameter, 2 1/4" tall. b- Paper lid for box. Gray, red, orange and white floral pattern. c- Red puff with black ribbon. 1998.027.124a,b THREAD and NEEDLE: Textileworking T & E, T & E for Materials, Category 4, Wooden spool with white thread. The American Thread Co. Twist Deluxe Mercerized cotton. b- 1 3/4'' long needle 1998.027.125 TELEVISION: Visual Communications, T & E for Communications, Category 6, RCA Victor Deluxe television set. Encased in wooden cabinet. 1954. 1998.627.126a-d BED, TWIN: Furniture, Furnishings, Category 2. Tw:- size bed frame (Head, foot & springs(a,b,c).;,%00�-ludes 4 casters(d). ,r► 1998.027.127a,b ANDIRONS; Temperature Control Device, Furnishings, Category 2. 2 identical black iron fireplace andirons. 1998.027.128 HAIRNET: Clothing -- Headwear, Personal Artifacts, Category 3. Black hairnet gathered on one side - no elastic. 1998.027.129a,b CANNISTER, FOOD-STORAGE : Food Processing T & E, \ T & E for Materials, Category 4, a- White enamel pot - 7 1/2" tall and 6 1/2" diameter. b- Lid for pot with black trim and handle on top. 1998.027.130a,b PLATE, BABY: Food Service T & E, T & E for Materials, Category 4. a- Blue plastic plate with suction cup bottom that can be filled with water to keep food warm. b- Stopper for filling hole in plate. 1998.027.131 a-f ROD, CURTAIN: Window or Door Covering, Furnishings, Category 2. a.Wooden curtain rod - 76 1/2" long, 1 3/8" diameter. Dark finish. b and c- 2 identical wooden knobs for the ends of the curtain rod - dark finish. d and e - 2 identical wooden brackets to hang the curtain rod on - dark finish. f - 26 Round wooden hangers to attach curtains to. 2 3/4'' diameter. Dark finish. 1998.027.132 HORSE, STUFFED: Toy, Recreational Artifacts, Category 9. Red and white polka dot stuffed horse with white yarn tail and mane. Approximately.l 1 " tall and 10" long. 1998.027.133 JAR, SPICE: Food Service T & E, T & E for Materials, Category 4. Clear glass jar of Crescent CREAM OF TARTAR with tan lid. 3 1/8" tall - 2'' diameter. Blue label on jar. 1998.027.134 WRENCH, BOX: Metalworking T & E, T & E for Materials, Category 4. Small box wrench with 3 different sizes. Richards-Wilcox Mfg. Co. Door Hangers Hardware. 4'' long 1 3/4'' wide. 1998.027.135 PROGRAM, LONGACRES: Documentary Artifacts, Communication Artifacts, Cat. 8. Official program for Longacres - Tuesday, August 23, 1966. 1998.027.136 PROGRAM, LONGACRES: Documentary Artifacts, Communication Artifacts, Cat. 8. Official program for Longacres - Sunday, July 19, 1970. 1998.027.137 PROGRAM, LONGACRES: Documentary Artifacts, Communication Artifacts, Cat. 8. Official program for Longacres - Sunday, July 29, 1973. 1998.027.138 PROGRAM, LONGACRES: Documentary Artifacts, Communication Artifacts. Cat. 8. Official program for Longacres - Wednesday, July 31, 1985. 1998.027.139 PROGRAM, LONGACRES: Documentary Artifacts, Communication Artifacts, Cat. 8. Official program for Longacres - Friday, August 8, 1986. 1998.027.140 PROGRAM, LONGACRES: Documentary Artifacts, Communication Artifacts, Cat. 8. Official program for Longacres - Sunday, July 8, 1990. 1998.027.141 PROGRAM, LONGACRES: Documentary Artifacts, Communication Artifacts, Cat. 8. Official program for Longacres - Friday, July 19, 1991. 1998.027.142 PROGRAM, LONGACRES: Documentary Artifacts, Communication Artifacts. Cat. 8. Official program for Longacres - Saturday, August 1, 1992. 1998.027.143 RACING FORM: Documentary Artifacts, Communication Artifacts. Category 8. Official Daily Racing Form for Longacres Race Track - Friday, May 29, 1958 1998.027.144 RACING FORM: Documentary Artifacts, Communication Artifacts, Category 8. Partof the Official Daily Racing Form for Longacres Race Track - Friday, July 3, 1959. 1998.027.145 RACING FORM: Documentary Artifacts. Communication Artifacts, Category 8. Official Daily Racing Form for Longacres Race Track - Saturday, August 3, 1985. 1998.027.146 RACING FORM: Documentary Artifacts. Communication Artifacts, Category 8. Official Daily Racing Form for Longacres Race Track - Friday, August 8, 1986. 1998.027.147 BOX, ASEPTO SYRINGE: Medical & Psychological T & E, T & E for Science & Technology. Category 5. Empty paper box for an Asepto Syringe. # 2082N . Made by Becton, Dickinson & Co., Rutherford, N.J. 10 114" x 2 1/2'' x 2 1/2" 1998.027.148a,b SYRINGE: Medical & Psychological T & E, T & E for Science & Technology, Cat. 5. Glass syringe - (#2098, 2 cc. Eisele & Co. 2 5/8'' long) with plunger (# 2327, 2 5/8" long) ''1998.G27.149a,b SYRINGE: Medical & Psychological T & E, T & E for sr:ience & Technology, Cat. 5. Glass syrinoe - r 3, 2 cc. Propper X-change - Inte angeable. with metal cli top - 2 112 loncljrwith plunger (X - dark edge at bo m - 2 112" long) p at 1998.027.150 SYRINGE: Medical & Psychologgical T & E, T & E for Science & Technolog Glass syringe - MF 1, 5 cc, Multifit, B-D Luer-Lok, with metal end for needle.4 3/4" long. With plunger that is stuck and cannot be removed. 1998.027.151 SYRINGE: Medical & Psychological T & E, T & E for Science & Technolo Cat. 5. Glass syringe (without plunger) - 9038Y - 20 cc, B-D Yale Luer-Lok, 5" long. 1998.027. 152 SYRINGE: Medical & Psychological T & E, T & E for Science & Technology, Cat. Glass syringe - Ideal - E.R.S. Inc. U.S. #'9789 5cc 3 3/8" long 1998.027. 153 SYRINGE: Medical & Psychological T & E, T & E for Science & Technology, Cat. Glass syringe (without plunger) 2609 - Ideal Lock - U.S.A. 2cc. 1998.027.15q SYRINGE: Medical & Psychological T & E, T & E for Science & Technology. Cat. 5. nology, Cat. 5. Green glass plunger for a medical syringe. 5/16" diam. 2 1/2" long. 1998.027.155a-jj SLIDES ( MEDICAL): Medical & Psychological T & E, T & E for Science & Technology, Cat. 5. 23'glass .slides - 1 " x 3''. a- Urinary Bladder - H O Nelson, b -thymus, 66. c- Testis & Epididymis W.P. d- clear e- Prostate G.S. f- Cervix Uterus Johnson g- 40 Lymph Node h- Aorta i- Lung Thorstad j Testis Knutson k- 17 Liver I- Rectum McClair m- Testis & Epididymis W.P. n- 2. Trachea o- Kidney R.E.M. p- Lung Jehne - Uterus A.J.O. 3/2/33 r- Rectum McClean s- Pyloris Duodenum nesting t- 5/5/34 Esophagus Lyons u- Jjunum v- Duodenum (Rat) Cassels w- Jjunum x- Testis W.P. y- Prostate z- Ureter Jensonun aa- Tonsil 3-1-33 G.C.T. bb- Spleen McDonald cc- 4-1 100 Mitosis dd- Uterus B. Zimmerman ee- Testis & epididymis W. Pierce ff- Desophagus H. A. A. gg- Ovary - Corpus lutern Suntzeff (broken) hh plain slide ii- unlabefed slide jj- unlabeled slide 1998.027.156a,b APPLICATORS, Cotton-Tipped: Medical & Psychological T & E, T & E for Science & Technology, Cat. 5. 2 broken bags of Cotton-Tipped Applicators (not sterilized) 100, 3''. Johnson & Johnson. 1998.027.157 PADS, MEDICAL DIRECTIONS: Medical & Psychological T & E, T & E for Science & Technology, Cat. 5. Small paper pad for directions with space for Dr. signature. 1998.027.158a,b SUTURES, Circumcision: Medical & Psychological T & E, T & E for Science & Technology Cat. 5. 2 identical boxes of Catgut Sutures, U.S.P. Circumcision Plain - Type A. Size 00 Product 600. a- contains 2 tubes of heat-sterilized sutures. b- contains 4 tubes of heat-sterilized sutures. Davis & Geck, Inc., Brooklyn, N.Y. 1998.027.159a,b SYRINGE: Medical & Psychological T & E, T & E for Science & Technology Cat. 5. a- Stylex 3cc syringe in b- paper container. Made by Pharmaseal Laboratories, Glendale, California. Individual (single use) syringe. 1998.027.160 BELL, CALL: Medical & Psychological T & E, T & E for Science & Technology. Cat. 5. Bell used by patients to call the nursing station from their bed. 14'' wire attached to black wooden end with white push button. 1998.027.161 KNIFE, UTILITY: Multiple Use Artifacts, Unclassifiable Artifacts, Cat. 10. Skyway Utility knife. Pat. 2246096. Black metal with adhesive tape wrapped around blade. 5 3/4'' long. 1998.027.162a,b SOAP, SEPTISOL: Medical & Psychological T & E, T & E for Science & Technology. Cat. 5. a- 2 oz. glass bottle with Septisol Liquid Soap that has hardened - about half full. Label is hand-written and taped on bottle. b- black plastic cap. 1998.027.163 BOTTLE, MILK of MAGNESIA: Medical & Psychological T & E, T & E for Science & Technology, Cat. 5. Blue, glass Genuine Phillips Milk of Magnesia bottle. 12, Made in U S.A., and Genuine Phillips on bottom of bottle. Bottle contains some crystals and the lid is rusted on. 1998.027.164a,b BOTTLE, VACCINE: Medical & Psychological T & E, T 8 E for Science & Technology, Cat. 5. a- Glass bottle for 5 cc of Tetanus Toxoid made by Lederle Laboratories Division of American Cyanamid Co. Exp. date - June 22, 1964.. Lid sealed on. b- Box for Tetanus Toxoid bottle. 1998.027.165a-d TUBE, OINTMENT: Medical &,, Psychological T & E, T & E for Science & Technology, Cat. 5. a- 1/8 oz tube of Bacitracin Ophthalmic Ointment, b- black lid for tube, c- Instruction sheet, d- cardboard box containing ointment. lX L, Tec hnolo Cat. 5. a- 1/3 ml"am' monia inhalant used for smelling salts. b- Similar ammoniinhalant. _. 1998.027.167 DROPPER, MEDT( ;E: Medical & Psychological T T & E for Science & Technology. Cam. Clear glass medicine dropper wired rubber end. 4" long. 1998.027.168 DROPPER, MEDICINE: Medical & Psychological T & E, T & E for Science & Technology. Cat. 5. Clear glass medicine dropper with black rubber end. 3 3/4" long. 1998.027.169 TWEEZERS: Medical & Psychological T & E, T & E for Science & Technology. Cat. 5. Silver tweezers. Made in Germany. 4 3/4'' long. Rusty. 1998.027.170a-f HOLDER, NEEDLE: Medical & Psychological T & E, T & E for Science & Technology. Cat. 5. 2 identical stainless steel needle holders with rubber caps labeled B-D. a contains Yale rustless needle B-D 22. d contains Yale stainless needle B-D 23. 1998.027.171 a-c BOTTLE, MEDICINE: Medical & Psychoogical T & E, T & E for Science & Technology. Cat. 5. a- Glass bottle (10 ml) containing Duracillin - Eli Lilly & Co. b- Instruction sheet. c- box for the bottle of Duracillin 1 114" x 1 1/4" x 2 3/4'' . 1998.027.172a-c BOTTLE, VACCINE: Medical & Psychological T & E, T & E for Science & Technology, Cat. 5. a- Glass bottle (9 cc) of Poliomyelitis vaccine - types 1, 2, and 3. b- Instruction sheet. c- box for the bottle of vaccine 1 1/8' x 1 1/8" x 2 114" 1998.027.173a,b AMPOULE, MEDICINE: Medical & Psychological T & T & E for Science & Technology. Cat. 5. Glass Ampoule ( 1 cc) containing Hykinone - 5 mg. b- box for the ampoule of hykinone. 1998.027.174a,b BOTTLE, MEDICINE: Medical & Psychological T & E, T & E for Science & Technology, Cat 5. a- Glass bottle (10 cc) containing Thiamine Hydrochloride. b- metal cap 1998.027.175 NEEDLES, INOCULATING: Medical & Psychological T & E, T & E for Science & Technology, Cat. 5. 12 inoculating needles - sizes from 18 - 26. 1998.027.176 PROBE: Medical & Psychological T & E, T & E for Science & Technology, Cat. 5. Metal probe - 4 3/4" total length with 3 3/4'' handle. Dr. Adams etched into handle. KNY SCHEERER. Made in Germany. 1998.027.177a-d TIPS, OTOSCOPE: Medical & Psychological T & E, T & E for Science & Technology, Cat. 5 4 tips (to insert into ear) that would fit on a Otoscope. 2 black and 2 silver. 1998.027.178 MASK HOLDER.: Medical & Psychological T & E, T & E for Science & Technology Cat. 5. Metal screen type holder for an anesthesia mask used during surgery. Fits over nose and mouth. 1998.027.179 TEST TUBE: Medical & Psychological T & E, T & E for Science & Technology. Cat. 5. 4 1/4 '; long, clear glass test tube. 1/2" diameter. Cork plug. SUFFRANLINE 1% . 1998.027.180 DOOR, FURNACE: Tem erature Control Device, Furnishings, Cat. 2. Iron door from the furnace at the Adams home at Burnett St, Renton, Washington. FAULTLESS COMFORT Colcock Furnace & Mfg. Co. Seattle, Wash. 1998.027.181 REGISTER, HEAT: Temperature Control Device, Furnishings, Cat. 2. Metal heat register from the Adams home at Burnett St, Renton, Washington. 12" x 14'' with a grid of squares. Has lever to open and close. 1998.027.182 BLANKET: Bedding, Furnishings, Cat. 2. Hand crocheted afgan in a daisy pattern. 48" x 60''. Green, white, yellow and orange. 1998.027.183 SCARF, BUREAU: Household Accessories, Furnishings, Cat. 2 . White, linen dresser scarf with 9 1/2" of hand crocheting on one end. Total length - 52", width - 19''. 1998.027.184 TOWEL: Household Accessories, Furnishings, Cat. 2. White, cotton hand towel. 17" x 30''. Hemstitched ends. 1998.027.185 TOWEL: Household Accessories, Furnishings, Cat. 2. White, linen hand towel. 20 112'' x 13 112''. Pattern in material on both ends. Henstitched ends. 1998.027.186 TOWEL: Household Accessories, Furnishings. Cat. 2. White, cotton hand towel. 30" x 17''. Triangular pattern in material. 1998.027.187 TOWEL: Household Accessories, Furnishings. Cat. 2. Blue, cotton hand towel. 15 1/2'' x 31 ''. Purple and white embroidery on each end. 1998.027.188 TOWEL: Household Accessories. Furnishings, Cat. 2. White, linen hand towel. Three initials embroidered on one end. 15'' x 2.3''. 1998.027.189 TOWEL: Household Accessories. Furnishings, Cat. 2. White, linen hand towel. MAW embroidered on one end of towel. 1 7" x 31 ''. 1998.027.190 BEDSPREAD: Household Accessories. Furnishings. Cat. 2. White, cotton bedspread used in the Bronson Memorial Hospital. 63" x 93 blanket used at Bronson Memorial Hospital. 78" x 86' . 1998.027.192 BLANKED: Household Accessories, Furnishings. Cat. 2. White, cotton, flannel blanket used c Aronson Memorial Hospital. 76' x 8 *%W 1998.027.193 PILLOW CASE: Household Accessories, Furnishings, Cat. 2. White, cotton pillow case. Embroidered in green, yellow, and white with narrow white crocheting around the edge. 1998.027.194 PAD , MATTRESS: Household Accessories, Furnishings, Cat. 2, White, cotton mattress pad used at Bronson Memorial Hospital. 69" x 49". 1998.027.195 TOWEL, HAND: Household Accessories, Furnishings, Cat. 2. White, cotton hand towel that is used in a rolling towel dispenser. 16' wide 72" long (sewn together to make a circular towel) 1998.027.196 UNIFORM, NURSE: Clothing -- Outerwear, Cat. 3, Personal Artifacts. White, cotton nurses uniform with button down front. Elbow length sleeves with fold up cuff. Pocket on either side of skirt and slash pocket on left side of bodice. H O S 23 Adonis are printed on back of neckline. 1998.027.197 UNIFORM, DOCTOR: Clothing - Outerwear, Cat. 3, Personal Artifacts. white, cotton doctor's coat. 34" Tong. Short sleeves, High neck (no collar). Buttons across shoulder and down the side of the front. White, tape buttons. Pocket of left side of top. Size 40. 1998.027.198 BANDAGE: Medical & Psychological T & E, Cat. 5, T & E for Science & Technology White, cotton band that could be used for a bandage or support. 4'' wide and N'; long. Stained. 1998.027.199 VEST, MEDICAL Medical & Psychological T & E, Cat. 5, T & E for Science & Technology. White, cotton flannel vest - open in front and on the sides.. 1998.027.200 VEST, MEDICAL: Medical & Psychological T&E, Cat. 5, T & E for Science & Technology. White, cotton vest - open on one side and at the top of straps. 1998.027.201 SHEET, SURGERY: Medical & Psychological T & E, Cat. 5, T & E for Science & Technology. White, cotton surgery sheet (72" x 80") with a 14'' slit cut and hemmed in the center. 1998.027.202 SHEET, DELIVERY: Medical & Psychological T & E, Cat. 5, T & E for Science & Technology. White, cotton delivery sheet (65" x 86") with a 14" slit cut and hemmed and 2 pant legs (with feet) sewn next to open slit. 1998.027.203 CARD, MEMBERSHIP: Documentary Artifacts, Cat. 8, Communication Artifacts. Membership card for H. H. Adams in the Washington State Medical Association. 1946. # 278. 1998.027.204 CARD, MEMBERSHIP: Documentary Artifacts, Cat. 8, Communication Artifacts. Membership card for H. H. Adams in the Washington state Medical Association in 1960. # 1587. 1998.027.205 CAPD, MEMBERSHIP: Documentary Artifacts, Cat. 8, Communication Artifacts. Membership card for Dr. Hugh H Adams in the American Automobile Association . Valid to Dec. 31, 1974. # 73-330591-0-0 1. 1998.027.206 CARD, MEMBERSHIP: Documentary Artifacts, Cat. 8, Communication Artifacts. Membership card for Hugh H. Adams in St. Andrew's Lodge, No. 35, F & A.M. 1956. 1998.027.207 CARD, MEMBERSHIP: Documentary Artifacts, Cat. 8, Communication Artifacts. Membership card for Hugh H. Adams in St. Andrew's Lodge, No. 35, F & A.M. 1974. 1998.027.208 CARD, MEMBERSHIP: Documentary Artifacts, Cat. 8. Communication Artifacts. Membership card for Gertrude Adams in the Renton Historical Society. 1972. 1998.027.209 CARD, MEMBERSHIP: Documentary Artifacts, Cat. 8, Communication Artifacts. Membership card for Hugh H. Adams, M. D. in the King County Medical Society. 1957. 1998.027.210 CAPD, MEMBERSHIP: Documentary Artifacts, Cat. 8, Communication Artifacts. Membership card for Dr. & Mrs. H. H. Adams in the Longacres Club House. 1958. 1998.027.211 CARD, GUEST: Documentary Artifacts, Cat. 8. Communication Artifacts. Guest card for admission in the Longacres Barn Area. # 216. 1998.02.7.212 CARD, CREDIT: Exchanae Medium, Cat. 8, Communication Artifacts. Shell Gasoline credit card for H H Adams. #= 915 047 708 3 1998.027.213 CARD, CREDIT: Exchange f✓ledium, Cat. 8. Communication Artifacts. Richfield gasoline credit card for Dr. H. H. Adams. 1946 # 933. 1998.027.214 CARD, REGISTRATION: Documentary Artifacts, Cat. 8, Communication Artifacts. Voter Registration card for Dr.. Hugh Adams. January 1, 1967. 1998.027.215 CARD, IDENTIFI(- 'TION : Documentary Artifacts, C, 8, Communication Artifacts. Card certifyingr.riat Hugh H. Adams is licensed byNwvv to practice as a physician and surgeon in the State of Washington. 1958. 1998.027.216 CARD, CALLING: Documentary Artifacts, Cat. 8, Communication Artifacts. Calling card for Hugh H. Adams, M. D. with home address. 1998.027.217 CARD, CALLING: Documentary Artifacts, Cat. 8, Communication Artifacts. Calling card for Mrs. Hugh H. Adams with home address. 1998.027.218 CARD, RAILROAD PASS: Exchange Medium, Cat.8, Communication Artifacts. Pass for Dr. H. H. Adams - good on the Milwaukee Railroad (Hiawatha, Nos. 15 & 16) 1998.027.219 CARD, IDENTIFICATION: Documentary Artifacts, Cat. 8, Communication Artifacts. Identification card for Hugh Hay Adams, M. D. as a holder of Automobile Accident and Hospital Insurance issued by United Insurance Company . 1998.027.220 CARD, NAME: Documentary Artifacts, Cat. 8, Communication Artifacts. Name tag for Hugh H. Adams, M. D. at the annual meeting of the Washington State Medical Ass'n. 1998.027.221 CARD, IDENTIFICATION: Documentary Artifacts, Cat. 8, Communication Artifacts. Card qualifying Mary Jane Adams as a Beginner in Swimming from the American National Red Cross. 1998.027.222 APRON: Clothing - Outerwear, Cat. 3, Personal Artifacts. Green, sheer fabric half apron with floral trim at bottom. 1998.027.223 NECKTIE: Accessory, Cat. 3, Personal Artifacts. Brown, silk necktie with tan and maroon leaf-like trim. SOIE Oberou - Paris. 1998.027.224 STAMP, RUBBER NAME: Written Communication T & E, Cat. 6, T & E for Communication. Rubber stamp with name - H. H. Adams, M. D., L & I. 1998.02.7.225 DIPLOMA: Documentary Artifacts, Cat. 8, Communication Artifacts. Diploma for Teresa Catherine Adams signifying that she had completed the "Grammar Department" couse of study from st. Anthony School in Renton, Washington. June 3, 1938. 1998.027.226 DIPOMA: Documentary Artifacts, Cat. 8, Communication Artifacts. Diploma for Hugh Hay Adams from 'Collegh Medicorum et Chirurgorum Sancti Framcisci' as 'Doctorem in Arte Medendi'. June 17, 1920. ;' 1998.027.227 LICENSE: Documentary Artifacts, Cat. 8, Communication Artifacts. Nursing license for Gertrude Jane Lackie Adams granted by the State of Washington. March 14, 1940. 1998.027.228 CERTIFICATE, MEMBERSHIP: Documentary Artifacts, Cat. 8, Communication Artifacts. Certificate of membership for Hugh H. Adams, M. D. in the Washington Institute of Medicine. April 5, 1946. 1998.027.229 CERTIFICATE, REGISTERED NURSE: Documentary Artifacts, Cat. 8, Communication Artifacts. Certificate from North Dakota State Board of Nurse Examiners entitling Gertrude T. Lackie to practice as a registered nurse. November 20, 1920. 1998.027.230 CERTIFICATE, APPRECIATION: Documentary Artifacts, Cat. 8, Communication Artifacts. Certificate of Appreciation to H. H. Adams, M. D. from The President of the United States of America, Franklin D. Roosevelt, for services in the administration fo the Selective Serice system. 1998.027.231 CERTIFICATE, FRATERNITY: Documentary Artifacts, Cat. 8, Communication Artifacts. Certificate presented to Hugh Hay Adams, M. D. by the Alpha Kappa Kappa Fraternity as a Graduate Fellow from the Alpha Sigma Chapter. June 1 , 1920. 1998.027.232 CERTIFICATE, LICENSE: Documentary Artifacts, Cat. 8, Communication Artifacts. License to practice Medicine and Surgery presented to Hugh H. Adams by the Department of Licenses of the State of Washington. December 28, 1931 . 1998.027.233a-c KITE: Toy, Cat. 9. Recreational Artifacts. a- Yellow, paper kite from Sears Roebuck and Co. "Master-Mixed Paints" . b and c are narrow wooden slats that go in the edges of the kite to make it firm - 23 3/4'' and 29 114'' long. 1998.027.234 PRINT, PHOTOGRAPHIC: Art, Cat. 8, Communication Artifacts. Chalk portrait of Isabella Adams (1850-1926) with her husband?? c. 1870s ? 16'' x 20'' 1998.027.235 PRINT, PHOTOGRAPHIC: Art, Cat. 8, Communication Artifacts. Chalk portrait of Peter Hay, brother of Janet Hay Adams. c. 1893 16'' x 20'' 1998.027.236 LEDGER: Documentary Artifacts, Cat. 8, Communication Artifacts. Gray ledger record book. H. H. Adams, M. D. on front. Includes records from 1922 to mid 30s. 1998.027.237 PRINT, PHOTOCPHIC: Documentary Artifacts, Com,,,: 8, Communication Artifacts. Roberta Fritz (D . ugh Adonis' nurse) standing with unidentified nurse. Image # 5119 1998.027.238 RECEIPT: Documentary Artifacts, Cat. 8, Communication Artifacts. Receipt for Ford Coupe from Case Heplerchre (?) , auto dealer in Issaquah, WA. Issued to Dr. H. H. Adams. Oct. 1 l, 1922. $530.00 plus $80.00 delivery charge. 1998.027.239 ITINERARY: Documentary Artifacts, Cat. 8, Communication Artifacts. Itinerary prepared for Dr. and Mrs. H. H. Adams, Mary Jane adams, Mrs. William Burnett, and Miss Margaret Anne Hurt for trip to Scotland in 1949. Prepared by American Express Travel Service. 1998.027.240 BOOK, ADMISSION: Documentary Artifacts, Cat. 8, Communication Artifacts. Bronson Hospital Admission Record Book from 1911 to 1923. 1998.027.241 CERTIFICATE: Documentary Artifacts, Cat. 8, Communication Artifacts. Washington State Medical Association certification of membership in the Medical Defense Fund (malpractice insurance) for Dr. H. H. Adams. April 3, 1946. 1998.027.242 LEDGER: Documentary Artifacts, Cat. 8, Communication Artifacts. Contains accounts for H. H. Adams, M. D. from 1925 to 1927. 1998.027.243 LEDGER: Documentary Artifacts, Cat. 8, Communication Artifacts. Patient list from 10-23-43 to 8-1-44 for doctors in Bronson Hospital - Dr. Keigwin, Dr. Adams, Dr Trott. 1998.027.244 LEDGER: Documentary Artifacts. Cat. 8, Communication Artifacts. Cash book containing record's from 1953 to 1960. 1998.027.245 BOOK, MEDICAL RECORD: Documentary Artifacts, Cat. 8, Communication Artifacts. Book containing maternity records from July, 1943 to March, 1944 . (Bronson Memorial Hospital) 1998.027.246 REPORT: Documentary Artifacts, Cat. 8, Communication Artifacts. Auditor's Report - Financial and Operating Statement of Bronson Memorial Hospital. 12-31- 1941 1998.027.247 REPORT: Documentary Artifacts, Cat. 8, Communication Artifacts. Auditor's Report- Financial and Trading Statement of Bronson Memorial Hospital. 12-31-1942. 1998.027.248 REPORT: Documentary Artifacts, Cat. 8, Communication Artifacts. Auditor's Report-Financial and Trading Statement of Bronson Memorial Hospital. 12-31-1943. 1998.027.249 REPORT: Documentary Artifacts, Cat. 8, Communication Artifacts.. Auditor's Report - Financial and Trading Statement for Bronson Memorial Hospital. 12-31-1944. 1998.027.250 REPORT: Documentary Artifacts, Cat. 8, Communication Artifacts. Auditor's Report - Financial and Trading Statement of Bronson Memorial Hospital. 12-31-1945. 1998.027.251 LETTER: Documentary Artifacts, Cat. 8, Communication Artifacts. Letter from Hugh H.-Adams, M.D. to I R S regarding payment of taxes. 6-12-1944. 1998.027.252 DIRECTORY: Documentary Artifacts, Cat. 8, Communication Artifacts. Renton City Directory. 1941-1942. 1998.027.253 DIRECTORY: Documentary Artifacts, Cat. 8, Communication Artifacts. Renton telephone Directory. 1936-1937. 1998.027.254 DIRECTORY: Documentary Artifacts, Cat. 8, Communication Artifacts. Renton Telephone Directory. 1947. 1998.027.255 DIRECTORY: Documentary Artifacts. Cat. 8, Communication Artifacts. Renton Telephone Directory. 1948. 1998.027.256 LEDGER: Documentary Artifacts, Cat. 8, Communication Artifacts. Ledger of Monthly summaries of receipts and other information from Bronson Hospital and Dr. Adams and Dr. Carney. 1998.027.257 JOURNAL: Documentary Artifacts, Cat. 8, Communication Artifacts. Leotherbound Journal for 1948. H. H. Adams, M. D. on front. 1998.027.258 BOOK: Documentary Artifacts, Cat. 8, Communication Artifacts. ''Useful Drugs'' Vprepared by the American Medical Association. 1917. Hugh H. Adams name on he front page. 1998.027.259 BOOKLET: Documentary Artifacts, Cat. 8, Communication Artifacts. Booklet containing birth records in Penton from December 26, 1940 to March 25, 1941. 1998.027.260 BOOKLET, SPIRA`�*Documentary Artifacts, Cat. 8, C*,rnmunication Artifacts. Small Notebook containing lists of patients and drugs given, by which nurse and doctor. August 15, 1941 to November 4, 1941 . 1998.027.261 PAD, PRESCRIPTION: Written Communication T & E, Cat. 6, T & E for Communication. Prescription pad - H. H. Adams, M. D., Bronson Memorial Clinic, Penton, Wash. 1998.027.262 BOOK: Documentary Artifacts, Cat. 8, Communication Artifacts, ''The American Racing Manual'' compiled by The Daily Racing Form. 1954. Dr. H. H. Adams signature on front page of book. 1998.027.263 PAD, PRESCRIPTION: Written Communication T & E, Cat. 6, T & E for Communication. Prescription pad - John L. Carney, M. D., Bronson Memorial Hospital, Renton, Washington. 1998.027.264a,b BANKBOOK: Documentary Artifo cts, Cat. 8, Communication Artifacts. a- Bankbook for Dr. H. H. Adams at First Federal Savings and Loan Assoc. in Renton. Showing loan paid. Acct. # 750. 1942. b- Paper holder for bankbook. 1998.027.265 CHECKBOOK: Documentary Artifacts, Cat. 8, Communication Artifacts. Large, black checkbook for Bronson Memorial Hospital from First National bank of Renton. Check #s 1501 - 1800. Some used and stubs are in the checkbook. 1998.027.266 LEDGER: Documentary Artifacts, Cat. 8, Communication Artifacts. Medical records - Names of persons treated, receipts, expenses. July, 1927 - December, 1933. 1998.027.267 YEARBOOK: Documentary Artifacts, Cat. 8, Communication Artifacts. "DUWAMISH" , the yearbook for the senior class of Renton High School in 1913. 1998.027.268 BOOK, MEMORIAL: Documentary Artifacts, Cat. 8, Communication Artifacts. Memorial Record book for Gertrude Jane Adams. 1897-1975. St. Anthony Church, Renton, Wash. Requiem Mass held on 9-19-75. 1998.027.269 PROGRAM: Documentary Artifacts, Cat. 8, Communication Artifacts. Program for the 50th wedding anniversary of Hugh and Gertrude Adams. 1923-1973. 1998.027.270a,b CERTIFICATE, BIRTH: Written Communication T & E. Cat. 6, T & E for Communication. 2 identical blank birth certificates from Bronson Memorial Hospital, Renton, Washington. 1998.027.271 PAPER, LETTERHEAD: Written Communication T & E, Cat. 6, T & E for Communication. White paper with Hugh H. Adams, M. D., 115 3rd Avenue, Penton, Wash. as letterhead. 1998.027.272 BOOKLET, HEALTH RECORD: Written Communication T & E, Cat. 6, T & E for Communication. Child Health Record from Infancy to Adulthood. Has Bronson Memorial Hospital seal on the front. Unused. 1998.027.273 ENVELOPE: Written Communication T & E, Cat. 6, T & E for Communication. Small envelope with Bronson Memorial Hospital and Clinic Renton, Washington as return address. 1998.027.274 ENVELOPE: Written Communication T & E, Cat. 6, T & E for Communication. Small white envelope with Mt. Olivet Cemetery & Crematory P. O. Box 547 renton, Washington as return address. 1998.027.275 ENVELOPE: Written Communication T & E, Cat 6, T & E for Communication. Legal size white envelope with Bronson Memorial Clinic 204 Main Street Renton, Washington as return address. 1998.027.276 STATIONERY: Written Communication T & E, Cat. 6, T & E for Communication. "V- Mail" stationery used during W W II to write to service men. Armed Forces members could send V-Mail free of postage. 1998.027.277 FORM, DIRECTIONS: Documentary Artifacts, Cat. 8, T & E for Communication. "Rules for Mothers after Leaving the Hospital'' Directions for new mothers from H. H. Adams, M. D. and J. L. Carney, M. D. Bronson Memorial Hospital Renton, Washington 1998.027.278 APPLICATION, RATION BOOK: Documentary Artifacts, Cat. 8, Communication Artif acts. Tire Record and Application for basic Mileage Ration Book ''A" or "D". from Dr. Hugh H. Adonis, 215 Burnett St. Renton, Washington.Nov. 4, 1942. 1998.027.279 RECORD SHEET, TIRE INSPECTION: Documentary artifacts, Cat. 8, Communication artifacts. Tire inspection record for Dr. H. H. Adams in accordance with O P A's regulations for Tire Ration books. 8-31-1943. 1998,07.280 HOLDER, RATION BOOK: Documentary Artifact, Cat. 8, Communication Artifacts. Paper holder for All Purpose Ration Books used during WW II. 1940s. 1998.027.281 BOOKLET: Doc*meientary Artifacts, Cat. 8, Comms ation Artifacts. Tan booklet that is A Souvenir of the Dedication of St. Anthony's Church, Renton, Washington. May 9, 1954. 1998.027.282 NEWSPAPER: Documentary Artifacts, Cat. 8, Communication Artifacts. "The Renton High News'' November 20, 1936. 1998.027.283 a-c ANNOUNCEMENT: Documentary Artifacts, Cat. 8, Communication Artifacts. The announcement of the marriage of Gertrude Jane Lackie to Dr. Hugh Hay Adams on August 4, 1923. a- announcement b and c - outer envelopes. 1998.027.284 CERTIFICATE, DEATH: Documentary Artifacts, Cat. 8, Communication Artifacts. Certified Copy of Death Certificate for Gertrude J. Adams. September 16, 1975. Age - 78. 1998.027.285 a,b LEASE AGREEMENT: Documentary Artifacts, Cat. 8, Communication artifacts. Lease agreement between Fern A. Bronson, owner, and H.H. Adams and Gertrude Jane Adams, Lessees for the Bronson Memorial Hospital. June 3, 1946. a- Lease agreement b- Letter confirming additional agreement to lease. 1998.027.286 BOOKLET, PENMANSHIP: Documentary Artifacts, Cat. 8, Documentary Artifacts. Wesco System of Penmanship booklet. 68 pages. Red paper cover. 8 114" x 5''. 1998.027.287 BROOCH:,. Adornment, Cat. 3, Personal Artifacts. Brooch of 11 fake pearls in shape of triangle. Clip on clasp. 1998.027.288 CERTIFICATE: Documentary Artifacts. Cat. 8, Communication Artifacts. Certificate of Attendance for Theresa Catherine Adams from Saint Anthony's School. June 3rd, 1938. 1998.027.289 NEWSPAPER: Documentary Artifacts. Cat. 8, Communication Artifacts. Renton High News. November 11 , 1936. 1998.027.290 ANNOUNCEMENT, FUNERAL: Documentary Artifacts. Cat. 8, Communication. Artifacts. Funeral announcement for Gertrude Jane Adams. Died on September 16, 1975. 1998.027.291 ANNOUNCEMENT, FUNERAL: Documentary Artifacts, Cat. 8, Communication Artifacts. Funeral announcement for Edith Elizabeth Laviolette. Died - August 7, 1958. 1998.027.292 ANNOUNCEMENT, FUNERAL: Documentary Artifacts, Cat. 8, Communication Artifacts. Funeral Announcement for Mrs. Amy Mary Lyonais. Died - May 12, 1963. 1998.027.293 ANNOUNCEMENT, BIRTH: Documentary Artifacts, Cat. 8, Communication Artifacts. Birth announcement for Maureen Louise Carney, daughter of Dr. and Mrs. John L. Carney. Dec. 4, 1951 . 1998.027.294 ANNOUNCEMENT, DONATION: Documentary Artifacts, Cat. 8, Communication Artifacts. Mass offering card in memory of Gertrude Adams. 1998.027.295 ANNOUNCEMENT, DONATION: Documentary Artifacts, Cat. 8, Communication Artifacts. Mass offering card in memory of Gertrude Adams. 1998.027.296a,b REPORT CAPD: Documentary Artifacts, Cat. 8, Communication Artifacts. Report cards for Mary Jane Adams at St. Alphonsus School in Seattle, WA. Grade 5 and 8. 1998.027.297 ANNOUNCEMENT, DONATION: Documentary Artifacts, Cat. 8, Communication Artifacts. Mass offering booklet in memory of Gertrude Adams. 1998.027.298 FORM, INVENTORY: Documentary Artifacts, Cat. 8, Communication Artifacts. Inventory form of narcotic drugs on hand at Bronson Memorial Hospital on June 26, 1946. Signed by H. H. Adonis. 1998.027.299 FORM, ORDER: Documentary Artifacts, Cat. 8, Communication Artifacts. Order form for H. T. Morphine tablets for Bronson Memorial Hospital (Dr. H. H. Adams). November 4, 1941 . 1998.027.300 LETTER: Documentary Artifacts, Cat. 8, Communication Artifacts. Letter from Dr. Adams to Treasury Department concerning sale of drugs. 1998.027.301 LETTER: Documentary Artifacts, Cat. 8, Communication Artifacts. Letter from Internal Revenue Service regarding the drug "Demerol" and its regulations. 1998.027.302 CERTIFICATE: Documentary Artifacts, Cat. 8, Communication Artifacts. Controlled Substances Registration Certificate for H. H. Adonis, MD. Issued 5-9-72. I 998.027.303 RECEIPT: Documentary Artifacts, Cat. 8, Communication Artifacts, Receipt for United States Sp( al Tax Stamp for narcotic drugs. H Adams, MD. # 1230. 1998.027.304 LETTER: Documentary Artifacts, Cat. 8, Communication Artifacts. Letter from Mary Jane (Adams) to her Mother and Dad from St. Josep school in Wild Rice, N. D. Feb. 21, 1942. 1998.027.305 LETTER: Documentary Artifacts. Cat.8, Communication Artifacts, Letter from Mary Jane (Adams) to her Mother and Dad from Seattle, WA Jan. 28, 1941 . 1998.027.306 LETTER: Documentary Artifacts, Cat. 8, Communication Artifacts. Letter from Mary Jane (Adams) to her Tata from Holy Angels Academy. Sept 18, 1938. 1998.027.307a-g RECORDS, EXPENSE: Documentary Artifacts, Cot. 8, Communication Artifacts. Sheets of records of expenses for Bronson Memorial Hospital. 1938-1939. 1998.027.308 PLAQUE, RELIGIOUS: Ceremonial Artifact, Cat. 8, Communication Artifacts. Beige plastic figure of Jesus hanging on the cross. 8 1/8'' tall - 4'' wide. INRI inscription on top part of cross. Holy Ghost Missions, Missionlane, Washington 11, B. C. 1998.027.309 PLAQUE, RELIGIOUS: Ceremonial Artifacts, Cat. 8, Communication Artifacts. White plastic figurine - Woman holding body of Jesus - with blue background. 3 114'' x 5". 1998.027.310 PLAQUE, RELIGIOUS: Ceremonial Artifacts, Cat. 8, Communication Artifacts. Blue plastic plaque with white plastic figure of Mary. 3 114'' x 4 114'' 1998.027.311 PLAQUE, RELIGIOUS: Ceremonial Artifacts, Cat. 8, Communication Artifacts. Small oval picture of Jesus in plastic gold filigree frame. 2'' x 2 1/2''. With stand. 1998.027.312 FIGURINE, RELIGIOUS: Ceremonial Artifacts, Cat. 8, Communication Artifacts. Ceremic figure of monk (?) holding child. 13 1/2'' tall. Figure has brown robe, child dressed in white. 1998.027.313 SCAPULAR: Ceremonial Artifacts. Cat. 8, Communication Artifacts. 2 small pieces of woolen material connected with strings worn over the shoulders under everyday clothing to signify religious devotion. Brown pieces of cloth ( 1 " x 1 1/2'') with picture and inscription. 1998.027.314 BOOKLET, RELIGIOUS: Ceremonial Artifacts., Cat. 8, Communication Artifacts. Small Mass Book with black paper cover containing prayers useful in Catholic Devotions. 64 pages. 3 1/2" x 5 3/4'' . 1998.027.315 BOOKLET, RELIGIOUS: Ceremonial Artifacts, Cat. 8, Communicaton Artifacts. Novena of Nine Tuesdays in honor of St. Anthony. Beige paper cover - 3 1/2" x 5''. 32 pages. 1998.027.316 CARD, RELIGIOUS: Ceremonial Artifacts, Cat. 8, Communication Artifacts. White card ( 2 1/2" x 4 114'') with picture and quote from Mother Cabrini. 1998.027.317 BOOKLET, PRAYER: Ceremonial Artifacts, Cat. 8, Communication Artifacts. Red, cardboard booklet with ''The Flying Novena" prayer. 1998.027.318 SEALS, CHRISTMAS: Written Communication T & E, Cat. 6, T &.E for Communication. Packet of religious Christmas Seals to use on cards or envelopes. 5 3/4" x 2 3/4". 1998.027.319 POSTER: Documentary Artifacts, Cat. 8, Communication Artifacts. "Eulogy Of The Doctor'' by Robert Louis Stevenson. 12'' x 16". 1998.027.320a-n LEDGER. SHEETS: Documentary Artifacts, Cat. 8, Communication Artifacts. Ledger sheets of expenses and income for 1938 and 1939 for Dr. Hugh H. Adams. 1998.027.321 X-RAY: Medical & Psychological T & E, Cat. 5, T & E for Science & Technology. Upper G-1 X-Ray. 13 3/4'' x 17 3/4''. 11-15-1956. H. H. Adams, M.D., Box 106, Issaquah, WA -- S. J. Hawley, M.D. 1998.027.322 X-RAY: Medical & Psycholoaicol T &. E, Cat. 5, T & E for Science & Technology. L. Arm. 1-8-45. 9 3/4' x 7 3/4'' Mrs. Mary McGovern. # 912. Bronson Memorial Hosp. 912 1845 Penton, Wash 1998.027.323 CERTIFICATE: Documentary Artifacts, Cat. 8, Communication Artifacts. Certificate for Dr. and Mrs. Hugh H. Adams and family signifying enrollment in the Perpetual Mass Association of the Order of The Most Holy Trinity. June 8th, 1949. 1998.027.324 POSTER.: Documentary Artifacts. Cat. 8, Communication Artifacts. Picture of Jesus in white, gold and rose robes. White outline around picture. 1 1 " x 14 1/2''. 1998.027.325 PROGRAM: Documentary Artifacts. Cat. 8, Communication Artifacts. Longo--res Official program for August 20, 1978. ,1998.027.32.6 X-RAY: Medical & Psychological T & E, Cat. 5, T. & E for Science & Technology. UpRer G-I X-Ray. 11-15-1956 Mr. Urban Mosset, Box 106, Issaquah, Washington. H. , Adams M 9 3/4" x 7 3/4" 1998.027.327 X-RAY: Medica& Psychological T & E, Cat.5, T &"**E for Science & Technology. UpXer G-1 X-Ray. 11-15-1956. Mr. Urban Masset. Box 106, Issaquah, Washington. H.H. Adams M.D. 9 3/4" x 7 3/4„ 1998.027.328 FORM, REQUEST FOR PAYMENT: Documentary Artifacts, Cat. 8, Communication Artifacts. Pad of "Legal Demand For Payment" in the matter of professional services renHcre ,J _ fnrmS S 1 /')" x 2 1 /7" 1998.027.329a-c PAPER, LETTERHEAD: Written Communication T & E, Cat. 6, T & E for Communication. White paper with Hugh H. Adams, M. D. Bronson Clinic Penne S_3A61 2n4 N, Cin Peritnn Wrich r`c IntferheriH 5 1 /7" x 7 1 /��" 1998.027.330a-c PAPER, LETTERHEAD: Written Communication T & E Cat. 6, T & E for Communication Whiteaper with Hugh. H. Adams, M. D. Bronson Clinic Phone 5_3A,41 90,41 lain c ntnn NA/rich. nc IeffernenrJ R 1 /)" x 1 1 " 1998.027.331 HOLDER, COIN: Exchange Medium, Cat. 8, Communication Artifacts. Paper holder for coins used by Pacific Telephone and Telegraph Co. to return deposits made by customers at n public tPlPnhnnP ruin box. 5" x 3 1998.027.332 CARD, IDENTIFICATION: Documentary Artifacts, Cat. 8, Communication Artifacts. Identification card for Mary Jane Adams with address, sec. sec. #, and description. 1 a A C 1998.027.333 CERTIFICATE, GRADUATION: Documentary Artifact, Cat. 8, Communication Artifacts. Graduation certificate for Teresa Catherine Adams from the eighth grade , Cin nPd by Sisfer Margaret Alacnni_�e. _li ine 3, 1938. 1998.027.334 FORMS, ORDER: DocumentaryArtifact, Cat. 8, Communication Artifacts. Booklet of 10 duplicate order forms for Opium, etc. from Bronson Memorial Hospital. April S 1944 - hies. 14. 1945 9" x 1 1 '' 1998.027.335 HOLDER, X-RAY Film: Medical & Psychological T & E, Cat. 5. T & E for Science & Technology. Black, wooden holder in which to carry X-Rays. a- Booklike container - 12 112'' x 14" x 1 112" - with 1 end and 1 side open. b - Black, wooden board - 10 1/2" x 15" x 1/2" - with handhold o ening in one end so it can be slid into the container. c- Black, metal sheet - 10 3/4" x 13 3/4". .1998.027.336 HOLDER, X-RAY Film: Medical & Psychological T & E , Cat. 5, T & E for Science & Technology. a- Brown, wooden, booklike container with metal cover. 13 1/4" x 3/4" x 16 T/4'' . Hinged on 1 side with 4 clasps. b- X-Ray screen - 1 1 " x 14". X998.027.337 BOX: Container, Cat. 7, Distribution & Transportation Artifacts. Gray, wooden box with metal wire handle. Wooden handholdonhandle. 7" x 5 1/2" x 4 7/8" high. No cover. 998.027.338 GAUZE: Medical & Psychological T & E, Cat. 5, T & E for Science & Technology. - Large roll of white gauze. 8 112" diameter, 4" wide. Cardboard tube in center. 1998.027.339 MASK, SURGICAL: Medical & Psychological T & E., Cat 5, T & E for Science & Technology. White, Curity mask with 4 strings to tie around face. 6 1/2'' x 6". '1998.027.3404IAN1nKFPr'P1PF• Personal Gear. Cat. 3. Personal ArtifactS. White. cotton handkerchief with 'A' monogrammed in corner. 16" square. 1998.027.341 UNIFORM, NURSE: Outerwear, Cat. 3, Personal Artifacts. White,cotton nurse's i inifnrr,) "CnnrrIrn I nii of nrillnS" 1nVvei Chnrf Slr:)c:, buttons down front 3 pockets, Adams printed at neckline. 1998 n27 342 UNIFORM, NURSE: Outennienr Cnf 3 Personal Artifacts. White. cotton nurse's uniform. "Bob Evans, the aristocrat of Uniforms" label. Long sleeve with French cuffs. 2 pockets, buttons part way down in skirt. B. M. Hosp. Adams printed in np- - ino 1998.027.343 UNIFORM, NURSE: Outerwear, Cat. 3, Personal Artifacts. White, cotton poplin nurse's uniform. "Bob Evans, the aristocrat of Uniforms" label. Long sleeve, buttons down frnnt 1 nnr`kPt 1998.027.344 GOWN, SURGICAL: Outenvear, Cat.3, Personal Artifacts. White, cotton surgical n.n„vn. f nnn 6-P.vPS v,,'fh knit ri_iffs_ 1, nnrket nnens in hark with 3 ties_ 1998.027.345 SHEET, WATERPROOF, Medical & Psychological T & E, Cot. 5, T & E for Science & Technology. White half-sheet. Middle section is rubberized waterproof and ends nrP Nnin r-ntfnn 9h" x ..V)" 1998.027.346 TOWEL, DISH: Maintenance T & E, Cat. 5, T & E for Science & Technology. White, cotton dish towel. 18' X 37'. Embroidered with a black bunny reading a book. ` + v,r+ 1998.027.347 TOWEL HAND: Toilet Article Cat 3, Personal Artifacts White. linen Band towel. 18" x 31 ". M. J. Adams printed on hem. 1998.027.348 TOWEL, DISH: Maintenance T & E, Cat. 5, T & E for Science & Technology. Red and white shank dish tnwel with cross stitch trim Imnn with tray). 16" x 24". 1998.027.349 RUNNER, TABLE: Household Accessory, Cat. 2, Furnishings. White cotton table runner with lace trim at each end. 19' x 39". Hole in middle. 1998.027.350 H1,N1DKER('F-IIFF cotton handkernhlef vith ni_it vnrk trim ern ind ea hvside R" sn_1nre 1998.027.351 BELT, GARTER: Clothing - Underwear, Cat. 3, Personal Artifacts. White, elastic garter belt with 4 adjustable garters. Waist can also be adjusted. Mary Jane label. 1998 n27 352 1-IANIF) PP('PIFF• Per(znn",I (;enr nt Percannl `Irt;fn�-tc White yattnn handkerchief with snnlloped wine-, Pink flnral trim with nreen leaves. 16" sni_Inre. 1998.027.353 POTHOLDER: Food Processing T & E, Cat. 4, T & E for Materials. White crocheted pot holder with red trim. Crocheted in full increased pattern, 1998.027.354 TOWEL, DISH: Maintenance T &E, Cat. 5, T & E for Science & Technology. Red and white check digh tnwe, with r-rncs Dutch trim [won nnn nn.rryinn trityl_ 16" x 24" 1998.027.355 BAG, SHOE: Personal Gear, Cat. 3, Personal Artifacts., Beige cotton shoe bag for 4 pair shoes. trimmed with green bias tape and embroidered shoes. 16 1/2" x 19 1998.027.356 TILE, FIREPLACE: Building Component, Cat. 1, Structures. Brown ceramic file from the Adams house. a- 6" x 6" tile. B- 6" x 3 '/2" file with bullnose edge. C- 6" x 2 file r:_ d�� v ,}� til- te,ifh �7 k;­4, nn k-­k Pm hnccerJ on tiles 1`:'98.027.357 FJRMS, INVENTORY: Documentary Artifacts, Cat. 8, Communication Artifacts. Annual Inventory form for Ooi:_�m. Cacti Lea ^s. t�"^rihuana. Etc. for Joh, L. Carney, M.D. 204 Main St., Renon, Wash. 1998.027.358a-g FORMS, INVENTORY: Documentary Artifacts, Cat. 8, Communication Artifacts. A 1 I l,-, t�....., F (l r'`�.. I A/ h. C 1 F,-.. LJ U A .J i 1:1;_!1_11 inv,-nt_ ,-,1 :) tf \ It_,I . J111:im \ 4_ ,-n t_tt=n�`_ ).'f ) 114:_it_li t_l: �itir. M.D. 204 Main St. Renton, Wash. a- 6-18-40, b-6-18-41, c- 6-24-42, d- 6-6-50, e- no date, f- no date, g- no date. 1998.027.359a-k FORMS, INVENTORY: Documentary Artifacts, Cat. 8, Communication Artifacts. Annual Inventory forms for Opium, Coca Leaves, Marihuana, Etc. for Bronson Memorial Hnznital, 204 Main St. Renton, Wash. a- 6-18-40, b- 6-19-41, c- 6-23- 42, -e- 1947, f- June, h- June, 1948, 1- 5-27-49, j- no date, k- no date 1998.027.360 RECE=IPT: Dfocumentary Artifacts, Cat. 8, Communication Artifacts. Payroll tax record and receipt for Bety Ross from Bronson Memorial Hospital for August, 1948. $210.00. 1998.27.361 FORM, ORDER: Documentary Artifacts, Cat. 8, Communication Artifacts. Order form for "Venomin" - a snake bite medicine. 1998.27.362 LETTER: Documentary Artifacts, Cat. 8, Communication artifacts. Letter of appreceiation to Mrs. H. H. Adams ffor a donation rom the American Red Cross. March 17, 1943. 1998.27.363 LETTER: Documentary Artifacts, Cat. 8, Communication Artifacts. Letter from the Department of Licenses in Olympia to Renton Hospital requesting a list of doctors. 1998.027.364 CERTIFICATE : Documentary Artifacts, Cat. 8, Communication Artifacts. Remembrance of First Holy Conlunion for Mary lane Aclams. May 23, 1937. St. Anthony's Church. Renton. 1998.027.365 CERTIFICA I E: NVrltten Comnlunicatlon f & 1-. Cat. 6, 1' & E for Conitinlcatlotl Blank Certificate of Birth from Bronson Memorial Hospital. Renton, Washington. 8 %2" X l 1". 1998.027.366 CIJRTIFICA"I'E: Documentary artifacts; Cat. 8, Conullunication Artifacts. Certificate of Service for 1-1. H. Adams for scrv1118 as an I'_tamining, Physician for the Selective Service System of the United States from Oct. 14. 1940 to March 31, 1947. 1998.027.367 LETTF,R: Docunlcntary Artifacts. Cat. 8, Conulltinication Artifacts. Letter from Selective Service System to ])r. 1-1. 11. Adams that accompanied his certificate of Service for unc*..pensated Selective Service personnel.,,.#]arch 26, 1946. 1998.27.368 CERTIFICATE: Documentary Artifacts, Cat. 8, Communication Artifacts Physician and Surgeon Certificate from the Board of Medical Examiners of California certifying Hugh Hay Adams, M. D. to practice medicine and surgery in California . 199Q. D27,3Z. PROGRAM: Documentary Artifacts, Cat. 8, Communication Artifacts. Program for Baseball -aures played between Japanese Pony Baseball Leagues and local Ieauues.AuOust 12, 13, and 14, 1983. 1998.027.370 TAX RETURN: Documentary Artifacts, Cat. 8, Communication Artifacts. State of Washington individual income tax return for 1932. Hugh. H. Adams, 215 Burnett S., Renton. Nash. 1998.027.371 FORM, UNEMPLOYUMENT COMPENSATION: Documentary Artifacts, Cat. 8, Communication Artifacts. Quarterly report fi-om Bronson Memorial Hospital for Unemployment Compensation for Quarter ending Sept. 30, 1946. 1998.027.372 PAD, PRESCRIPTION: Written Coln mu►iication T& E, Cat. 6, T & E for Communication. Prescription pad for claimants who are having their medical bills paid by the Department of Labor and Industries. 1998.027.373 PAD, PRESCRIPTION: Documentary Artifacts, Cat. 8, Comunication Artifacts. Prescription pad for H. 11. Adams, M. D. Bronson Memorial Clinic, Renton, Wash. Some pages are written on — most are blank. 1998.27.374 CERTIFICATE; Documentary Artifacts, Cat. 8, Communication Artifacts. Attendance certificate for Teresa Catherin Adams of Saint Anthony's School. June 4, 1937. l 998.27.375 CERTIFICATE: Documentary Artifacts, Cat. 8, Communication Artifacts, Certificate of-completion of Piano course for Teresa Catherine Adams. May 27, 1936. 1998.27.376 LETTER: Documentary Artifacts, Cat. 8, Communication Artifacts. Letter with prices for medical charts from Medical and Surgical Records Company, Glendale, Cal. a- Letter b and c - copies of forms of charts. 1998.027.377 LICENSE: Documentary Artifacts, Cat. 8, Communication Artifacts. License for Gertrude Jane Lackie Adams as a registered Nurse in the State of Washington. # 260. 1998.027.378a,b PAMPHLET: Documentary Artifacts, Cat. 8, Communication Artifacts. Instructions for use of a Miller-Abbott Double Lumen Tube—an instrument of disorders of the Gastro-intestinal Tract. 1998.027.379 - CONTRACT, Real Estate: Documentary Artifacts, Cat. 8, Communication Artifacts. Real Estate contract from Anton C. Larson, et ux to John K. Lackie for land in King County. April 29, 1926. Contract# 2269217. 1998.027.380 CARD, CALLING: Documentary Artifacts, Cat. 8, Communication Artifacts, White calling card for Gertrude J. Lackie, R.N. 1998.027.381 COUPON: Documentary Artifacts, Cat. 8, Communication Artifacts. Coupon # 156 the entitles the holder "One Bingo Card Free" at the Renton Eagles Area Hall. Given by Covey's (store) 1998.027.382a-e LETTERS: Documentary Artifacts, Cat. 8, Communication Artifacts. Letters regarding Travel Permit for Dr. Otto. T. Trott. Germany, to come to Renton between Dr. 14. 1-1. Adams and U. S. Attorney. 1943. 1998.027.383a,b BOOK, BANK SAVINGS: Documentary artifacts, Cat. 8, Communication Artifacts. a- Pacific First Federal Savings bank book for Dr. H. H. Adams or Gertrude Jane Adams. # 89788. b- envelope for bank book. 1998.027.384a,b BOOK, BANK SAVINGS: Documentary Artifacts, Cat. 8, Communication Artifacts. a- First Federal Savings and Loan Association of Renton bank book for Dr. H. H. Adams and/or Gertrude Adams. # 1086. b- envelope for bank book 1998.027.385 BOWL, MIXING: Food Processing T & E, Cat. 4, T & E for Materials. Small stainless steel b 3" diameter at bottom, 6 ''/z" diamet t top, 3" tall. 1998.027.386 SPITTOON, INVALID: Medical & Psychological T & Ems, Cat. 5, T & E for Science & Technology. White enamel oblong bowl used by patients who need to vomit. Approximately 8" x 4". 1998.027.387 PIN, ADVERTISING: Advertising Medium, Cat 8, Communication Artifacts. Round. metal pin advertising 8" RENTON RIVER DAYS 1993. 1998.027.388 THIMBLE: Textile,.vorking T & E, Cat. 4, T & E for Materials. Silver colored thimble. 3/n" tall '/2" diamter. 1998.027.389 BANDAGE: Medical & Psychological T & E, Cat. 5, T & E for Science Technology. Cloth bandage - 40" x I3" Nvith 2 tucks sewn in from one side. 1998.027.390 LETTER: Documentary Artifacts, Cat. 8, Communication Artifacts. Letter to Dr. 1-1. H. Adams advising him of receipt of renewal insurance on his house from R. E. Theinhardt at First Federal savings & Loan Association of Renton,. March 8, 1943. 1998.027.391 a,b LETTER: Documentary Artifacts, Cat. 8, Communication Artifacts. a- Letter from Mary Jane Adams at St. Joseph School, Wild Rice, N. Dak. to Miss Katherine Lackie at Bronson Memorial Hospital, Renton, Washington. Feb. 24, 1945. b- Envelope 1998.027.392 LETTER: Documentary Artifacts, Cat. 8, Communication Artifacts. Letter from Dr. H. I-I. Adams to "Whom it may concern" regarding treatment for Mr. Jack L Judge. April 30, 1943. 1998.27.393 LETTER: Documentary Artifacts, Cat. 8, Communication Artifacts. Letter from "Your loving nephew, Almo" to Aunt and Uncle from Briscoe School in Kent, Wash. May 25, 1931. 1998.27.394 LETTER: Documentary Artifacts, Cat. 8, Communication Artifacts. Letter from `'Your loving son, Almo" to Aunt and Uncle from Briscoe School in Kent, Wash. March 20, 1931. 1998.027.395 LETTER: Documentary Artifacts, Cat. 8, Communication Artifacts. Letter to "Tata" from St. Joseph School in Wild Rice,N. Dak. Jan. 31, 1943. 1998.027.396 SPOON, MEDICAL: Medical & Psychological T & E, Cat. 5, T & E for Science & Technology. White ceramic spoon. 9 ''/2" long. Bowl is 1 3/4" x 2 '/4" Germany. 1998.027.397a-d THERMOMETER: Medical & Psychological T & E, Cat. 5, T & E for Science & Technology. a,b—Uni-Temp Single use Thermometers in plastic holders.c- Uni-Temp Single use Thermometer container (no thermometer) d- Original box for 20 Uni- Temp Single use Thermometers. 2 ''/2"x 1 1/8" x 4 '/4" 1998.027.398 BANDAGE: Medical & Psychological T & E, Cat. 5, T & E for Science & Technology. Bauer& Bauer gauze bandage. Part of a roll wrapped in gray paper Original size was 10 yards x 36 inches. 6" long and 1 '/4" diameter. 1998.027.399 BANDAGE: Medical & Psychological T& E, Cat. 5, T & E for Science & TechnoloGy. Plain Gauze Bandage - Item No. 92010 - made by Acme Cotton Products Cp., Inc. 3" x 1 ''/a" x 5/8". 1998.27.400 BANDAGE: Medical & Psychological T & E, Cat. 5, T & E for Science & Technology. Gauze bandage wrapped in gray Johnson & Johnson paper. 2" x 1 '/4" 1998.027.401 BANDAGE: Medical & Psychological T & E. Cat. 5, T & E for Science & Technolo�Tv. Gauze bandage wrapped in gray Johnson & Johnson paper. F* x 1 '/4" 1998.027.402 BANDAGE: Medical & Psychological T & E, Cat. 5, T & E for Science & Technology. Elastic bandage in original clear wrap. TWIS-PAK. With 2 "BD" hooks 2" long - 2" diameter. 1998.027.403 BANDAGE: Medical & Psychological T & E. Cat. 5, T & E for Science & Technology. Cloth bandage wrapped in a roll. 3 3/4" wide, I" diameter. l 998.027.404 DRESS: Clot' - Outerwear, Cat. 3, Personal Art;- ts. White, polyeaster dress with green'Knd pink squares in the material. Short" eeves, pink belt, scoop neckline. 1998.027.405 WALLET: Personal Gear, Cat. 3, Personal Artifacts. Brown, leather wallet. Single fold - strips on front. Dr. Hugh 1-1. Adams printed on front. 6 %" x 3 7/8''. 1998.027.406 NAPKIN: Food Service T & E. Cat. 4. T & E for Materials. Cotton, brocade material napkin. 15" x25". White. 1998.027.407 NAPKIN: Food Service T & E, Cat. 4, T & E for Materials. White, cotton, material napkin. 10 %" x 13 `'/z". 1998.027.408 BLOCK_ QUILT. Textileworking T & E , Cat. 4, T & E for Materials. White, cotton embroidered block - "Miss Muffet". 7" x 7V21 1998.027.409 NECKLACE: Adornment, Cat. 3, Personal Artifacts. Small , silver colored, religious pendant to hang on a chain. 3/4" x 1"-oval. " Our Lady of Victory Pray For Us". 1998.027.410 RUNNER, TABLE: Household Accessory, Cat. 2, Furnishings. Beige, cotton embroidered table runner. 42" x 13". Unhemmed edges. 1998.027.411 COVER, PILLOW: Household Accessory, Cat. 2, Furnishings. Tan pillow top. Embroidered with `'September", a poem, and autumn colored leaves. 2l" x 22". 1998.027.412 COLLAR: Clothing-Accessory, Cat. 3, Personal Artifacts. White -U-shaped" collar. 3" .vide. 1998.027.413 NECKLACE: Adornment, Cat. 3, Personal Artifacts. Small, silver colored, religious pendant to hang on a chain. Oval , ''/z" x 1". "Sainte Genevieve" 1998.27.414 NECKLACE: Adornment, Cat. 3, Personal Artifacts. Small, copper colored religious pendant and chain. ''/2" x 3/4". Oval. On very tangled chain. 1998.027.415 HANGER, PICTURE: Household Accessory, Cat. 2, Furnishings. "passel picture hanger on round top ( 1 3/4" diam).. 6" long. To hang on picture molding. 1998.027.416 TUBING, MEDICAL: Medical & Psychological T & E, Cat. 5, T & E for Science & Technolo0y. '/4" rubber tubing. 35" long. 1998.027.417a,b BOOK, APPOINTMENT: Documentary Artifacts, Cat. 8, Communication Artifacts a- Leather tri-fold appointment book for 1901. 7 ''/2" x 3 3/4" On cover: R. E. M. Cowie, Asst. Gen'I Mgr, Am. Ex. Co. with pencil (b) in holder inside. Notes on a very few pages inside. 1998.027.418a-c POLICY, INSURANCE: Documentary Artifacts, Cat. 8, Communication Artifacts. a- Fire insurance policy for Dr. Hugh Adams for Household Furniture & Personal Property at 215 Burnett St., Renton, WA 12-4-1974 to 12-4-1977. b- Plastic envelope for policy c- Mailing envelope to Dr. Adams 1998.027.419 PRINT, PHOTOGRAPHIC: Documentary Artifact, Cat. 8, Communication Artifact Photo # 5449. Renton Hospital Staff. 2 women in nurse's uniforms and 1 man. 1998.027.420 PRINT, PHOTOGRAPHIC: Documentary Artifact, Cat. 8, Communication Artifact Photo # 5450. John Carney kids at their Renton home. 1998.027.421 PRINT, PHOTOGRAPHIC: Documentary Artifacts, Cat. 8, Communication Artifact Photo # 5451 John Carnev as a child . l 998.27.422 PRINT, PHOTOGRAPHIC: Documentary Artifacts, Cat.8, Communication Artifact Photo # 5452.. Carney kids in front of Arnoni's house. 1998.027.423 PRINT, PHOTOGRAPHIC: Documentary Artifacts, Cat. 8, Communication Artifact Photo 4 5453. Girl (about 3 yr. old) sitting on a bench. Accession No. Description 1998.027.424 PRINT, PHOTOGRAPHIC: Documentary Artifacts, Cat. 8, Communication Artifacts. Photo # 5454. John Carney and friend. 1998.027.425 PRINT, PHOTOGRAPHIC: Documentary Artifacts, Cat. 8, Communication Artifacts. Photo # 5455. John Carney's children at their Renton home. 1998.027.426 PRINT, PHOTOGRAPHIC: Documentary Artifacts, Cat. 8, Communication Artifacts. Photo # 5456. 2 Carney children at their Renton home. 1998.027.427 PRINT, PHOTOGRAPHIC: Documentary Artifacts, Cat. 8, Communication Artifacts. Photo # 5457. 2 Car-nei, children at 12enton }ionic. 1998.027.428 PRINT, PHOTOGRAPHIC: Documentary Artifacts, Cat. 8, Communication Artifacts. Photo # 5458. Carney child. 1998.027.429 X-RAY: Medical & Psychological T & E, Cat. 5, T & E for Science & Technology X-Ray of L. Knee, # 645. Louise Marenakas. 9-3-1944. 11 '/a" x 10". 1998.027.430 PAMPHLET: Documentary Artifacts, Cat. 8, Communication Artifacts. 4 page pamphlet— "Do You Wish to Lose Your Family Doctor?" 3 '14" a 6 '/," c. 1940s. 1998.027.431 PRINT, PHOTOGRAPHIC: Docurnentar- Artifacts, Cat. 8, Communication Artifacts. Photo # 5514. Hugh an(] Gertrude Adams and another lady. 1998.027.432 PRINT, PHOTOGRAPHIC: Documentary Artifacts, Cat. 8, Coil]rnunication Artifacts. Photo # 5515. Gertrucle Adarns and another lade. Now low 4110 CITY OF RENTON CITY CLERK'S OFFICE MEMORANDUM DATE: April 23 2001 TO: Steve Anderson, Museum Supervisor FROM: Bonnie Walton, x6513 SUBJECT: AC-031, Deed of Gift—Adams artifacts As requested, the attached document has been signed by City officials and is being returned to you for execution. After you have signed, please return one signed original of the document to the Clerk's office for our permanent record file. Thank you. Enclosures: (2) N RECEIVED . Renton Historical Society Museum APR 18 2001 235 Mill Avenue South, Renton, Washington 98055-2133 425/255-2330; FAX 425/255-1570 MAYORS OFFICE Jay Covington CITY OF RENTON City of Renton - APR 1 9 2001 1055 South Grady Way RECEIVED Renton, WA . 98055 ' CITY CLERK'S OFFICE I Dear o 33 ,"wv o Enclosed is the Deed of Gift form for the items that the Renton Historical Society has accessioned from the Hugh and Gertrude Adams house. The property in the Adams house was originally property of the City of Renton. The house was going to be destroyed and the Renton Historical Society was told that they could take whatever they felt would be appropriate for their use at the museum. It has taken us a long time to finalize this because of the number and scope of the items. Please have 2 appropriate city officials sign the original deed and return it to us so we may legally take possession of the artifacts. The copy is for your-records. i Thank you so much for your cooperation. Sincerely, w Steve Anderson , Museum Supervisor Pi Enclosures CITOF RENTON "LL Office of the City Attorney WL Jesse Tanner,Mayor Lawrence J.Warren MEMORANDUM TO: Bonnie Walton City Clerk's Office FROM: Stephanie Rary Legal Assistant to avid M. Dean DATE: January 30, 1998 RE: Purchase of 233 Burnett Ave S, Renton, From Adams and Picini Purchase of 1800 Camas Ct. NE, Renton, From Kumar I am forwarding to you the original Statutory Warranty Deeds from the purchase of 233 Burnett Ave S, from John Adams and Elizabeth Picini, which have been recorded with the King County Recorder's Office. I have also included a copy of the Offer to Purchase from the purchase of 1800 Camas Ct NE, from Bimal Kumar. It is my understanding that Tom Boyns has the original of this document. I will forward the recorded deed as soon as I receive it from the King County Recorder's Office. Please give me a call at 255-8678 if you have any questions. Post Office Box 626 - 100 S. 2nd Street- Renton, Washington 98057 - (206)255-8678 ®This paper contains 50%recycled material,20%post consumer 1 After recording return to: WARREN, KELLOGG, BARBER, DEAN& FONTES, P.S. P.O. BOX 626 RENTON, WASHINGTON 98057-0626 0 r� DOCUMENT TITLE: Statutory Warranty Deed REFERENCE NUMBER OF RELATED DOCUMENT: N/A G GRANTOR(S): Adams, John W. and Adams, Emily J. �, ADDITIONAL GRANTOR(S) ON PAGE: N/A GRANTEE(S): City of Renton C ADDITIONAL GRANTEE(S) ON PAGE: N/A 0 ABBREVIATED LEGAL DESCRIPTION: Lot 6, Block 2 Motor Line additions, Vol. 9 of Plats, Page 50, King County, Washington ul G ADDITIONAL LEGAL DESCRIPTION ON PAGE(S): 1 C ASSESSOR'S TAX PARCEL NUMBER(S): 569600-0075 u .MEED BY PSV ' 9/Z 3 i q s.7(}_1 7_ STATUTORY WARRANTY DEED John W. Adams and Emily J. Adams, as their respective separate estates, for and in consideration of Ten Dollars ($10) and other good and valuable consideration in hand paid, convey and warrant to City of Renton, a municipal corporation, under threat of eminent domain the following described real estate, situated in King County, State of Washington: 9 Lot 6, Block 2 Motor Line Addition to Renton, according to the plat thereof recorded in Volume 9 of Plats, Page 50, records of King County, Washington. ti Dated this �1 day of October, 1997 n w w a x John W. Adams x n. n 0 4 Emily J. a 0 T STATUTORY WARRANTY DEED - 1 M a 7! cn 'ter+ STATE OF WASHINGTON ) ss COUNTY OF KING ) I certify that I know or have satisfactory evidence that John W. Adams and Emily J. Adams are the persons who appeared before me, and who signed this instrument and acknowledged it to be their free and voluntary act for the uses and purposes mentioned in the instrument. DATED this day of October, 1997. OALIWIC :�&1�1 -4� Pa A.,� •�� +�,s+o w oPy. : Notary Public STEPHANIE RARY c�aTAgp! in and for the State of Washington. 40 " w _ My appointment expires: 19 D 0 M O STATUTORY WARRANTY DEED - 2 0 0 After recording return to: WARREN, KELLOGG, BARBER, DEAN&FONTES, P.S. P.O. BOX 626 RENTON, WASHINGTON 98057-0626 0 DOCUMENT TITLE: Statutory Warranty Deed REFERENCE NUMBER OF RELATED DOCUMENT: N/A m GRANTOR(S): Picini, Elizabeth J. ADDITIONAL GRANTOR(S) ON PAGE: N/A Pa GRANTEE(S): City of Renton ADDITIONAL GRANTEE(S) ON PAGE: N/A c� ryd O ABBREVIATED LEGAL DESCRIPTION: Lot 7, Block 2 Motor Line additions, Vol. 9 of Plats, Page 50, King County, Washington ADDITIONAL LEGAL DESCRIPTION ON PAGE(S): 1 � �a t-1 ASSESSOR'S TAX PARCEL NUMBER(S): 569600-0080 FILED BY PNMT14 9l Z ® � r-1 Z STATUTORY WARRANTY DEED Elizabeth J. Picini, a married person as her separate estate, for and in consideration of Ten Dollars ($10) and other good and valuable consideration in hand paid, convey and warrant to City of Renton, a municipal corporation, under threat of eminent domain the following described real 0 estate, situated in King County, State of Washington: a Lot 7, Block 2 Motor Line Addition to Renton, according to the plat thereof recorded in Volume 9 of Plats, Page 50, records of King County, Washington. G N Dated this day of October, 1997 U W ElizaAerth J. Picini X a- q M Cu of STATUTORY WARRANTY DEED - 1 M O h- [h STATE OF WASHINGTON ) ss COUNTY OF KING ) I certify that I know or have satisfactory evidence that Elizabeth J. Picini is the person who appeared before me, and who signed this instrument and acknowledged it to be her free and voluntary act for the uses and purposes mentioned in the instrument. DATED this day of October, 1997. wit \ r' : +�� ��. •A Notary Public STEPHANIE RARY "c in and for the State of Washingto . My appointment expires: 0 L1 00 • J J0 STATUTORY WARRANTY DEED - 2 �✓ 'mow G CITY OF RENTON CITY CLERK'S DIVISION MEMORANDUM DATE: November 5, 1997 TO: Stephanie Rary, Legal Assistant to David M. Dean FROM: Bonnie Walton, ext. 2501 SUBJECT: Adams Sale to City; Picini Sale to City As requested in your letter of 10/31/97, the attached documents have been signed by City officials and are being returned to you for execution by other parties. When fully executed and returned to you, please forward the signed document, or a copy of it, to this office for our permanent record file. Thank you. Enclosures vow ADDENDUM TO OFFER TO PURCHASE 1. This agreement is entered into under threat by the City of Renton to use its eminent domain powers to acquire the premises legally described in the Offer to Purchase. 2. All other terms of the Offer to Purchase remain the same. DATED this 31' day of October, 1997. Sellers: Purchaser: THE CITY OF RENTON John W. Adams By M ATTEST: Emily J. Adams Marilyn Pe rs , City Clerk ESCROW INSTRUCTIONS ADAMS TO CITY OF RENTON Property Address: 233 Burnett Avenue South Renton, Washington 98055 TO: Warren, Kellogg, Barber, Dean&Fontes, P.S., Attorneys at Law: 1. PURCHASE AGREEMENTS: The undersigned appoint you as escrow agent for the closing of the above-mentioned real estate transaction in accordance with the terms and conditions of an Offer to Purchase("Agreement")dated October 17, 1997,between the undersigned Seller and Purchaser. The Agreement, and legal description therein (including future corrections thereto) are incorporated herein by reference. To the extent that any terms of that Agreement are inconsistent herewith, they are amended to conform to the terms of these Escrow Instructions. 2. INSTRUMENTS: The undersigned deposits with you the amounts necessary to close as set forth in the attached Real Estate Transaction Closing Statements ("Closing Statement"), together with necessary conveyancing and security instruments,which funds and instruments you are authorized to use when all parties have approved these instructions, and you hold for the account of the Purchaser the appropriate conveyancing instrument, and for the account of the Seller the appropriate promissory notes and/or security instruments and funds,all as set forth in the Agreement. From the sums deposited by the parties, you are authorized to deduct the charges as set forth in the attached Closing Statements. 3. TITLE INSURANCE: 3.1 General Information: The undersigned acknowledge that they understand that there are several different types of policies of title insurance, all of which can be issued with various indorsements which expand, explain or modify the policy coverage or insure against special risks. The two major types of coverage are Standard Coverage Policy and Extended Coverage Policy. A Standard Coverage Policy has general exceptions which are contained in Schedule "B". For the most part these relate to off-record matters, such as encroachments or questions of location, boundary and area which an accurate survey would disclose,public or private easements not disclosed of record, rights of persons in possession of the property, material or labor liens,water rights,utility ESCROW INSTRUCTIONS- I w�rr 'ori charges, etc. An Extended Coverage Policy will generally not include some or all of the Schedule "B" exceptions noted above. However,the Extended Coverage Policy will cost approximately 30%more than the Standard Coverage Policy.In addition the title insurer may require a survey of the boundaries of the property and the improvements located thereon if the title insurer's inspection of the property leaves any doubt with regard to encroachments or boundary disputes. Thus, there would be additional expense and delay caused by the survey. The undersigned have heretofore agreed that the Purchaser will provide a Standard Coverage Policy at the expense of the Purchaser. The undersigned confirm that agreement. If the undersigned desire to modify their prior agreement with respect to the type of title insurance policy,we will notify you in writing of the change so that the proper title insurance coverage can be secured. 3.2 Owner's Policy. You are instructed to, on behalf of the Purchaser,order from Pacific Northwest Title Insurance Company of Washington, Inc., a preliminary commitment for an Owner's standard form policy of title insurance in the face amount of Fifty Thousand Dollars ($50,000). 3.3 Reliance. You are entitled to rely upon the preliminary commitment, and have no obligation to make any independent search of public records, or inquiry of any persons, including the Seller, Purchaser and Broker. 4. REPRESENTATION: Sellers are aware that Warren, Kellogg, Barber, Dean & Fontes, P.S., Attorneys at Law, are acting as the attorneys for the Purchaser. Sellers waive any potential conflict of interest that may arise by reason of that relationship. Sellers are aware of their right to be represented by independent counsel of their own choice. 5. LIMITATIONS: YOU ARE TO HAVE NO L I A B I L I T Y O R RESPONSIBILITY WITH RESPECT TO ANY MATTERS CONNECTED WITH THE FOLLOWING: (a) Heating oil in tank, water, Metro and other utility charges which will be adjusted between the Seller and Purchaser outside of this escrow. (b) Requirements of the Consumer Protection Act,Truth In Lending Act,the Real Estate Settlement Procedures Act, Inter-State Land Sales Act, and any similar laws and regulations. (c) Personal property, or encumbrances thereon, including personal property taxes, matters relating to the Bulk Sales Act, sales taxes and instruments filed under the Uniform Commercial Code, which matters will be adjusted between the Seller and Purchaser outside of this escrow. (d) Forgeries or false personations of any person or party in connection with these instructions or this escrow generally. ESCROW INSTRUCTIONS-2 (e) Assessments, utility connection and any other charges which are not of record and disclosed in the preliminary commitment ,for title insurance, including omit taxes which may appear on future tax statements. Seller warrants to you and to the Purchaser that there are no recently completed, pending, or announced local improvements for streets, underground wiring, water, sewer, etc., chargeable or to become chargeable to the property. All such matters shall be adjusted between Seller and Purchaser outside of this escrow. (f) The accuracy or correctness of any representations or provisions in the Agreement, or otherwise made by the parties or Broker. (g) Insurance on the property. (1) Purchaser understands and acknowledges that it is Purchaser's responsibility to provide for fire and casualty insurance upon the premises commencing as of or prior to the closing date in order to protect Purchaser's interest in the property. (2) In the event that Seller is financing any portion of the purchase price, Purchaser agrees, on or before the closing date,to acquire and pay at least the first year's premium on a new fire and casualty insurance policy with extended coverage in an amount not less than the value of the improvements on the property, or as set forth in the Agreement. The policy shall, to the extent that there is any balance owed them, name the Seller and any other holders of security against the property as loss payees. Purchaser agrees to immediately deliver to Seller a copy of the policy. (3) Seller will maintain any present insurance on the property until closing, and will be free to thereupon cancel the same and retain any refund of unearned premium. (h) Rental or lease arrangements concerning the property, including accounting or pro- ration of rentals.or transfer or accounting of tenant deposits. (i) The parties understand that you have not inspected the subject property and have no knowledge regarding; (1) The condition of the real property; (2) Whether or not any items of personal property referred to in the Agreement, if any, remain on the property or will remain on the property on delivery of possession to Purchaser; or (3) The presence on the real property, or in any improvements located thereon, ESCROW INSTRUCTIONS-3 1%W of any asbestos-containing materials,polychlorinated biphenyls("PCBs"),fuel and/or chemical storage tanks, drums and/or pipelines,liquid or solid wastes, pesticides,herbicides and/or other agricultural chemicals, or other substances or materials defined or designated as hazardous or toxic wastes,hazardous or toxic materials, a hazardous, toxic or radioactive substance, or other similar term, by any federal, state or local environmental statute, regulation, or ordinance, presently in effect, which materials are collectively referred to herein as "hazardous substances". The parties have specifically declined to secure a pre-acquisition assessment of the property to ascertain whether any hazardous substances are present on the property, or on any adjacent or nearby property. The Purchaser acknowledges that they understand that they may be held liable for the cost of cleanup or other remediation of any hazardous substances which may be hereafter discovered to be present on the property, together with costs of response by environmental agencies, and other damages to the environment, in the event that the Purchaser fails to make due and diligent inquiry into the environmental condition of the property prior to acquisition thereof. (j) You shall not be responsible for the transfer of possession of the real and personal property from Seller to Purchaser. All arrangements concerning such transfer shall be made directly between such parties. (k) You shall have no obligation or responsibility to check on, verify or obtain any information with respect to determining(or if any information is so obtained,you shall have no liability with respect to determining): (1) Whether or not any Note and/or Mortgage, Deed of Trust, or Real Estate Contract against the property permits the holder to raise the interest rate and/or declare the entire balance due in the event of sale, or requires consent to sale of the property. (2) Any balance owed by Seller on Lienable Condominium or Homeowner's Association dues or charges. Seller warrants to Buyer that all Condominium or Homeowner's Association dues or charges are paid current. You have advised us to have this information reviewed by our own attorney. (1) Encroachments or questions of location,boundary and area,which an accurate survey may disclose. Each party specifically declines to obtain a survey of the premises which would disclose any such matters. (m) Public or private easements, streets, roads, alleys or highways, unless disclosed of record by recorded plat or conveyance, or decree of a court of record. ESCROW INSTRUCTIONS-4 (n) Exceptions and reservations in United States Patents. (o) Rights or claims of persons in possession, or claiming to be in possession, not disclosed by the public records. (p) Material or labor liens,or liens under the Workmen's Compensation Act not disclosed by the public records. (q) Water rights or matters relating thereto. (r) Any service, installation or construction charges for sewer, water, electricity, or garbage removal. (s) General taxes not now payable; matters relating to special assessments and special levies, if any, preceding the same becoming a lien. (t) Right of use, control or regulation by the United States of America, in the exercise of powers over navigation. (u) Any prohibition or limitation on the use, occupancy or improvement of the land resulting from the rights of the public or riparian owners to use any waters which may cover the land. (v) Zoning (present or potential) of the property, and the legality or propriety of the Purchaser's proposed use of the property under existing land use codes. 6. MISCELLANEOUS: 6.1 A copy of the Closing Statement and other instruments maybe delivered to any broker involved in the transaction, as well as to mortgagees or holders of other liens, and to attorneys representing any of the parties. You are authorized, but not required; to notify prior lien holders of the existence of any contract or other instrument securing all unpaid balances owed Seller by Purchaser. 6.2 These instruments are complete, and there are no oral or other agreements which modify or affect the same. Any future amendments or supplements to these instructions must be in writing, and delivered to you, before they shall be effective. 6.3 All notices and correspondence may be mailed or delivered to the parties at the addresses shown below. You shall have no liability for any loss or delay involved in mailing any instruments or monies. 6.4 The term "closing" is susceptible to several meanings. Generally, it means the time ESCROW INSTRUCTIONS-5 at which the Seller delivers title to the Purchaser in exchange for the purchase price. Normally, closing does not occur when the parties execute the legal documents at the closing agent's office or when the Purchaser delivers all or part of the purchase price to the closing agent but may be delayed several days until the documents and funds have been processed. 7. TERMINATION: If you are unable to comply with these instructions,or are,in your sole opinion,unable or unwilling to close this sale in the manner provided in the Agreement,then you will so notify the Seller and Purchaser in writing. If neither party has filed any objection within ten (10)days after receipt of such notice,then you are instructed to return all instruments and monies to the party who signed the same or paid the money to you. Thereupon,you are,without the necessity of further concurrence or instruments from either of the parties, released from all liability in respect to this escrow. If within said ten (10) days, either of the parties objects to the return of the instruments or monies, or transfer to another closing agent, you are authorized, in your discretion, to either hold the same until agreement is reached, or to interplead the same with the Superior Court, at the expense of the parties. Any monies returned to the parties shall be less any expenditures which you have made on their behalf prior thereto, including, but not limited to, any title insurance cancellation fee and your full escrow fee. 8. CLOSING STATEMENT: The attached closing statement has been reviewed and is approved by the parties. Dated: October 31, 1997. Sellers: Purchaser: THE CITY OF RENTON John W. AdamsCa-o-t Soc. Sec. No.: BY M06R JESSE TANNER ATTEST: Emily J. Adams Soc. Sec. No.: Marilyn Pe rs City Clerk ESCROW INSTRUCTIONS-6 law ESTIMATED SELLER'S REAL ESTATE TRANSACTION CLOSING STATEMENT ADAMS TO CITY OF RENTON Property Address: 233 Burnett Avenue South Renton, Washington 98055 Closing Date: October 31, 1997 DESCRIPTION CHARGES CREDITS Sales Price 50,000 Check to Seller: $50,000 50,000 Extended Totals 50,000 50,000 ESCROW INSTRUCTIONS-7 %aw ESTIMATED PURCHASER'S REAL ESTATE TRANSACTION CLOSING STATEMENT ADAMS TO CITY OF RENTON Property Address: 233 Burnett Avenue South Renton, Washington 98055 Closing Date: October 31, 1997 DESCRIPTION CHARGES CREDITS Sales Price 50,000 Current Real Estate Taxes Pro-rated as of October 31, 1997. 173.75 Title Insurance Premium inc. Sales Tax 380.10 Recording/Reconveyance Fees (est.) 17.90 Check from Purchaser to Close: $50,571.75 50,571.75 Extended Totals 50,571.75 50,571.75 ESCROW INSTRUCTIONS-8 PAYOR'S REQUEST FOR TAXPAYER IDENTIFICATION NUMBER ESCROW NO. 175.077 DATE OF CLOSING: October 31, 1997 PROPERTY ADDRESS: 233 Burnett Avenue South Renton, Washington 98055 Are you selling or refinancing the above property? Selling_X_ Refinancing Is this property your primary residence? Yes No_X_ Are you a United States Citizen? Yes_X_ No SELLER/REFINANCING INFORMATION: Adams, John W. 7548 South Sunnycrest Road Seattle, Washington 98178 Phone# (Zo k) 7 rz.- 2 2�-r Soc. Sec. #x&23, Adams, Emily J. 7548 South Sunnycrest Road Seattle, Washington 98178 Phone#,7�� �6 y Soc. Sec. CERTIFICATION: Under the penalties of perjury, I certify that the information provided above is true, correct and complete. hn W. Adams Emily J. a Date: 16 IJ-1IZ-ff 5 _ Date: _ ESCROW INSTRUCTIONS-9 err+ wr" ADDENDUM TO OFFER TO PURCHASE 1. This agreement is entered into under threat by the City of Renton to use its eminent domain powers to acquire the premises legally described in the Offer to Purchase. 2. All other terms of the Offer to Purchase remain the same. DATED this 3 l'day of October, 1997. Seller: Purchaser: THE CITY OF RENTON Elizabeth J. Picini By MA JESSE TANNER ATTEST: Marilyn Pe a se , City Clerk fir' vw► ESCROW INSTRUCTIONS PICINI TO CITY OF RENTON Property Address: 233 Burnett Avenue South Renton, Washington 98055 TO: Warren, Kellogg, Barber, Dean&Fontes, P.S., Attorneys at Law: 1. PURCHASE AGREEMENTS: The undersigned appoint you as escrow agent for the closing of the above-mentioned real estate transaction in accordance with the terms and conditions of an Offer to Purchase("Agreement")dated October 17, 1997, between the undersigned Seller and Purchaser. The Agreement, and legal description therein(including future corrections thereto) are incorporated herein by reference. To the extent that any terms of that Agreement are inconsistent herewith, they are amended to conform to the terms of these Escrow Instructions. 2. INSTRUMENTS: The undersigned deposits with you the amounts necessary to close as set forth in the attached Real Estate Transaction Closing Statements ("Closing Statement"), together with necessary conveyancing and security instruments,which funds and instruments you are authorized to use when all parties have approved these instructions, and you hold for the account of the Purchaser the appropriate conveyancing instrument, and for the account of the Seller the appropriate promissory notes and/or security instruments and funds,all as set forth in the Agreement. From the sums deposited by the parties, you are authorized to deduct the charges as set forth in the attached Closing Statements. 3. TITLE INSURANCE: 3.1 General Information: The undersigned acknowledge that they understand that there are several different types of policies of title insurance, all of which can be issued with various indorsements which expand, explain or modify the policy coverage or insure against special risks. The two major types of coverage are Standard Coverage Policy and Extended Coverage Policy. A Standard Coverage Policy has general exceptions which are contained in Schedule "B". For the most part these relate to off-record matters, such as encroachments or questions of location, boundary and area which an accurate survey would disclose,public or private easements not disclosed of record, rights of persons in possession of the property, material or labor liens, water rights, utility ESCROW INSTRUCTIONS- 1 r charges, etc. An Extended Coverage Policy will generally not include some or all of the Schedule "B" exceptions noted above. However,the Extended Coverage Policy will cost approximately 30%more than the Standard Coverage Policy.In addition the title insurer may require a survey of the boundaries of the property and the improvements located thereon if the title insurer's inspection of the property leaves any doubt with regard to encroachments or boundary disputes. Thus, there would be additional expense and delay caused by the survey. The undersigned have heretofore agreed that the Purchaser will provide a Standard Coverage Policy at the expense of the Purchaser. The undersigned confirm that agreement. If the undersigned desire to modify their prior agreement with respect to the type of title insurance policy,we will notify you in writing of the change so that the proper title insurance coverage can be secured. 3.2 Owner's Policy. You are instructed to,on behalf of the Purchaser,order from Pacific Northwest Title Insurance Company of Washington, Inc., a preliminary commitment for an Owner's standard form policy of title insurance in the face amount of Fifty Thousand Dollars ($50,000). 3.3 Reliance. You are entitled to rely upon the preliminary commitment, and have no obligation to make any independent search of public records, or inquiry of any persons,including the Seller, Purchaser and Broker. 4. REPRESENTATION: Seller is aware that Warren,Kellogg,Barber,Dean&Fontes, P.S., Attorneys at Law, are acting as the attorneys for the Purchaser. Seller waives any potential conflict of interest that may arise by reason of that relationship. Seller is aware of her right to be represented by independent counsel of her own choice. 5. LIMITATIONS: YOU ARE TO HAVE NO L I A B I L I T Y O R RESPONSIBILITY WITH RESPECT TO ANY MATTERS CONNECTED WITH THE FOLLOWING: (a) Heating oil in tank, water, Metro and other utility charges which will be adjusted between the Seller and Purchaser outside of this escrow. (b) Requirements of the Consumer Protection Act,Truth In Lending Act,the Real Estate Settlement Procedures Act, Inter-State Land Sales Act, and any similar laws and regulations. (c) Personal property, or encumbrances thereon, including personal property taxes, matters relating to the Bulk Sales Act, sales taxes and instruments filed under the Uniform Commercial Code, which matters will be adjusted between the Seller and Purchaser outside of this escrow. (d) Forgeries or false personations of any person or party in connection with these instructions or this escrow generally. ESCROW INSTRUCTIONS-2 (e) Assessments, utility connection and any other charges which are not of record and disclosed in the preliminary commitment for title insurance, including omit taxes which may appear on future tax statements. Seller warrants to you and to the Purchaser that there are no recently completed, pending, or announced local improvements for streets, underground wiring, water, sewer, etc., chargeable or to become chargeable to the property. All such matters shall be adjusted between Seller and Purchaser outside of this escrow. (f) The accuracy or correctness of any representations or provisions in the Agreement, or otherwise made by the parties or Broker. (g) Insurance on the property. (1) Purchaser understands and acknowledges that it is Purchaser's responsibility to provide for fire and casualty insurance upon the premises commencing as of or prior to the closing date in order to protect Purchaser's interest in the property. (2) In the event that Seller is financing any portion of the purchase price, Purchaser agrees, on or before the closing date,to acquire and pay at least the first year's premium on a new fire and casualty insurance policy with extended coverage in an amount not less than the value of the improvements on the property, or as set forth in the Agreement. The policy shall,to the extent that there is any balance owed them, name the Seller and any other holders of security against the property as loss payees. Purchaser agrees to immediately deliver to Seller a copy of the policy. (3) Seller will maintain any present insurance on the property until closing, and will be free to thereupon cancel the same and retain any refund of unearned premium. (h) Rental or lease arrangements concerning the property, including accounting or pro- ration of rentals or transfer or accounting of tenant deposits. (i) The parties understand that you have not inspected the subject property and have no knowledge regarding; (1) The condition of the real property; (2) Whether or not any items of personal property referred to in the Agreement, if any, remain on the property or will remain on the property on delivery of possession to Purchaser; or (3) The presence on the real property, or in any improvements located thereon, ESCROW INSTRUCTIONS-3 of any asbestos-containing materials,polychlorinated biphenyls("PCBs"),fuel and/or chemical storage tanks, drums and/or pipelines, liquid or solid wastes, pesticides,herbicides and/or other agricultural chemicals,or other substances or materials defined or designated as hazardous or toxic wastes, hazardous or toxic materials, a hazardous, toxic or radioactive substance, or other similar term, by any federal, state or local environmental statute, regulation, or ordinance, presently in effect, which materials are collectively referred to herein as "hazardous substances". The parties have specifically declined to secure a pre-acquisition assessment of the property to ascertain whether any hazardous substances are present on the property, or on any adjacent or nearby property. The Purchaser acknowledges that they understand that they may be held liable for the cost of cleanup or other remediation of any hazardous substances which may be hereafter discovered to be present on the property, together with costs of response by environmental agencies, and other damages to the environment, in the event that the Purchaser fails to make due and diligent inquiry into the environmental condition of the property prior to acquisition thereof. (j) You shall not be responsible for the transfer of possession of the real and personal property from Seller to Purchaser. All arrangements concerning such transfer shall be made directly between such parties. (k) You shall have no obligation or responsibility to check on, verify or obtain any information with respect to determining(or if any information is so obtained,you shall have no liability with respect to determining): (1) Whether or not any Note and/or Mortgage, Deed of Trust, or Real Estate Contract against the property permits the holder to raise the interest rate and/or declare the entire balance due in the event of sale, or requires consent to sale of the property. (2) Any balance owed by Seller on Lienable Condominium or Homeowner's Association dues or charges. Seller warrants to Buyer that all Condominium or Homeowner's Association dues or charges are paid current. You have advised us to have this information reviewed by our own attorney. (1) Encroachments or questions of location,boundary and area,which an accurate survey may disclose. Each party specifically declines to obtain a survey of the premises which would disclose any such matters. (m) Public or private easements, streets, roads, alleys or highways, unless disclosed of record by recorded plat or conveyance, or decree of a court of record. ESCROW INSTRUCTIONS-4 14W yrr' (n) Exceptions and reservations in United States Patents. (o) Rights or claims of persons in possession, or claiming to be in possession, not disclosed by the public records. (p) Material or labor liens,or liens under the Workmen's Compensation Act not disclosed by the public records. (q) Water rights or matters relating thereto. (r) Any service, installation or construction charges for sewer, water, electricity, or garbage removal. (s) General taxes not now payable; matters relating to special assessments and special levies, if any, preceding the same becoming a lien. (t) Right of use, control or regulation by the United States of America,in the exercise of powers over navigation. (u) Any prohibition or limitation on the use, occupancy or improvement of the land resulting from the rights of the public or riparian owners to use any waters which may cover the land. (v) Zoning (present or potential) of the property, and the legality or propriety of the Purchaser's proposed use of the property under existing land use codes. 6. MISCELLANEOUS: 6.1 A copy ofthe Closing Statement and other instruments may be delivered to any broker involved in the transaction, as well as to mortgagees or holders of other liens, and to attorneys representing any of the parties. You are authorized, but not required, to notify prior lien holders of the existence of any contract or other instrument securing all unpaid balances owed Seller by Purchaser. 6.2 These instruments are complete, and there are no oral or other agreements which modify or affect the same. Any future amendments or supplements to these instructions must be in writing, and delivered to you, before they shall be effective. 6.3 All notices and correspondence may be mailed or delivered to the parties at the addresses shown below. You shall have no liability for any loss or delay involved in mailing any instruments or monies. 6.4 The term "closing" is susceptible to several meanings. Generally, it means the time ESCROW INSTRUCTIONS-5 ``w *40* at which the Seller delivers title to the Purchaser in exchange for the purchase price. Normally, closing does not occur when the parties execute the legal documents at the closing agent's office or when the Purchaser delivers all or part of the purchase price to the closing agent but may be delayed several days until the documents and funds have been processed. 7. TERMINATION: If you are unable to comply with these instructions, or are,in your sole opinion,unable or unwilling to close this sale in the manner provided in the Agreement,then you will so notify the Seller and Purchaser in writing. If neither party has filed any objection within ten (10)days after receipt of such notice,then you are instructed to return all instruments and monies to the party who signed the same or paid the money to you. Thereupon,you are,without the necessity of further concurrence or instruments from either of the parties, released from all liability in respect to this escrow. If within said ten (10) days, either of the parties objects to the return of the instruments or monies, or transfer to another closing agent, you are authorized, in your discretion, to either hold the same until agreement is reached,or to interplead the same with the Superior Court, at the expense of the parties. Any monies returned to the parties shall be less any expenditures which you have made on their behalf prior thereto, including, but not limited to, any title insurance cancellation fee and your full escrow fee. 8. CLOSING STATEMENT: The attached closing statement has been reviewed and is approved by the parties. Dated: October 31, 1997. Seller: Purchaser: THE CITY OF RENTON Elizab h J. Picini _ Soc. Sec. No.-!4-:--2,g —t���S By R JESSE TANNER ATTEST: Marilyn Pe r , City Clerk ESCROW INSTRUCTIONS-6 ESTIMATED SELLER'S REAL ESTATE TRANSACTION CLOSING STATEMENT PICINI TO CITY OF RENTON Property Address: 233 Burnett Avenue South Renton, Washington 98055 Closing Date: October 31, 1997 DESCRIPTION CHARGES CREDITS Sales Price 50,000 Check to Seller: $50,000 50,000 Extended Totals 50,000 50,000 ESCROW INSTRUCTIONS-7 gar►' ESTIMATED PURCHASER'S REAL ESTATE TRANSACTION CLOSING STATEMENT PICINI TO CITY OF RENTON Property Address: 233 Burnett Avenue South Renton, Washington 98055 Closing Date: October 31, 1997 DESCRIPTION . CHARGES I CREDITS Sales Price 50,000 Current Real Estate Taxes Pro-rated as of October 31, 1997. 173.75 Delinquent Real Estate Taxes penalties and Interest 1997: 307.67 Title Insurance Premium inc. Sales Tax 380.10 Recording/Reconveyance Fees (est.) 38.80 Check from Purchaser to Close: $50,900.32 50,900.32 Extended Totals 50,900.32 50,900.32 ESCROW INSTRUCTIONS-8 PAYOR'S REQUEST FOR TAXPAYER IDENTIFICATION NUMBER ESCROW NO. 175.077 DATE OF CLOSING: October 31, 1997 PROPERTY ADDRESS: 233 Burnett Avenue South Renton, Washington 98055 Are you selling or refinancing the above property? Selling_X_ Refinancing Is this property your primary residence? Yes No X Are you a United States Citizen? Yes_X_ No SELLER/REFINANCING INFORMATION: Picini, Elizabeth J. 1813 NW 77th Seattle, WA 98117 Phone#���� JL9Z o Soc. Sec. CERTIFICATION: Under the penalties of perjury, I certify that the information provided above is true, correct and complete. Eliz eth J. Picini Dater ESCROW INSTRUCTIONS-9 c� Illillfto CITAtOOF RENTON "LL Office of the City Attorney Jesse Tanner,Mayor Lawrence J.Warren October 31, 1997 Ms. Marilyn Petersen City Clerk City of Renton 200 Mill Avenue South Renton, Washington 98055 Re: Adams Sale to City of Renton; Picini Sale to City of Renton Dear Ms. Petersen: I am enclosing the following documents regarding the above transactions for Mayor Tanner's signature: 1. Escrow Instructions for Adams Sale to City of Renton; 2. Addendum to Offer to Purchase for Adams Sale to City of Renton; 3. Escrow Instructions for Picini Sale to City of Renton; and 4. Addendum to Offer to Purchase for Picini Sale to City of Renton. I transmitted facsimiles of these documents to Mayor Tanner's office this morning for his review. Thank you. Please contact me if you have any questions. Very truly yours, Stephanie Rary Legal Assistant to David M. Dean Enc. Post Office Box 626 - 100 S. 2nd Street- Renton, Washington 98057 - (206)255-8678 9 This paper contains 50%recycled material,20%post consumer NOV-03-1997 11:00 WARREN, KELLOGG ET AL P.01iO3 • "WA EN, KELLOGG, a ABBE �" MANSMUtU MEMO DEAN 6 F®NTES, P.S. CpNFID1=NT14L PRIVILEGED AT'rMNEYS AT LAW (206)155-8678 Method of Delivery POST OFFICE BOX 626.100 SOU'rH SECOND STREET RENTON,WASHINGTON 48057 ( ) Mail FAX NUMER: 20&25S-5474 ( ) Hand Deli ted b,J Fax No. Z_ ��-2-15 )3 ( ) Other ( )�1ransmission Completed [read. Fax contains confidential,privileged Information Intended only ` ! ��-v 7 copy or disseminate it unless you are the addressee, 0 you have recevedthis Fax inertr, please call us (collect) immediately at(206)255-8678, and mail the original Fax to Box 626 Renton, Washington 98057- P.O. ►v N►E, t'.1 l l,� F 1N �(,�/���t 5 FROM: STaprf/ N I DATE:, oVFI-- P6cg2 A-Vs P CI TLI (DF-- N )lU We have enclosed the following document(s): s � oicr, TD Pv E 7V PvW�C�E ( ) FOR YOUR INFORMATION ( ) FOR SIGNATURE AND RETURN X - ER YOUR RrQL'ES-F ( ) FOR REVIEW AND COMMENT ( ) PER OUR CONVERSATION ( ) FOR NECESSARY ACTION ( ) PER OUR AGREEMEN"r ( ) FOR YOUR PILES ( ) SFE REMARKS BELOW ( ) FOR YOUR APPROVAL ( ) ( ) APPROVED AS NOTED FOR FAx TRANsmrrTAI,: This transmission consists of pages, including this cover page. If for some reason pages, or it you do not receive all of the is not legible, please contact our office immediately_ Remarks: R-6vt5E ^ZV/SC- IF YW N62�D ^NJYT fjNC-,? F)pThffje 17t;pt7v r- Y01A. NOV-03-1997 11:00 WRRREN, KELLOGG ET AL P.02iO3 **MW Offer To Purchase I%W The Ciry of Renton,a municipal corporation,hereinafter Buyer,agrees to buy the properly legally described as: Lot 6,Block Z,Motor Line Addition to Renton according to the plat recorded in Volume 9 of Plats, page 50, records of long County,Washington. Purchase price: The purchase price,511411 be Fifty Thousand and NO/100 Dollars(550,000.00) Payable in tJS currency upon closing. Closing Date/Agent: Closing shall be as soon as possible,not later than October 31, 1.997 dap after acceptance of this offer. Possession: Buyer shall be entitled to possession of the property upon closing, Agency: At the signing of this agreement,neither party is represented by an agent. Condition of Title: Title to the property shall be marketable at closing. Seller authorizes the escrow agent to apply for a standard form buyers policy of title insurance,at Buyer's expense. Title shall be conveyed by Statutory Warranty Deed. Closing Costs and Prorations: Buyer shall pay all costs incurred in this transaction. Taxes for the current year shall be prorated as of the date of closing; however it is understood and agreed that the Seller has a lease which requires the tenant to pay the taxes,and,the City of Renton has assumed the terms of said lease, therefore the City of Renton shall be responsible for payment of any property taxes due at closing. Performance: Time is of the essence of this agreement. Agreement: On this 17th day of October, 1997 Buyer a ecs to purchase this property on the above and conditions. City of RentoZBo , ue S,Renton WA 98055 BY: G Thomas Property Services Supervisor Acceptance; On this 17th day of Qctober, 1997, Seller and conditions,and acknowledges receipt of a co of this agrees to sell the property on the above terms copy agreement �GtJ John W.Adams Emily I s NOV-03-1997 11:00 WARREN, KELLOGG ET AL P.03iO3 Offer To Purchase '"W The City of Renton,a municipal corporation,hereinafter Buyer,agrees to bury the property legally described as: i Lot 7,Block 2,Motor Line Addition to Renton according to the plat recorded in Volume 9 of Plats, page 50,records of king County,Washington. Purchase Price: The purchase price shall be Fifty Thousand and N01100 Dollars(S50,000.00) Payable in US currency upon closing. Closing Date/Agent. Closing shall be as soon as possible,not later than October 31, 1997-Wsraiter acceptance of this offer. Possession: Buyer shall be entitled to possession of the property upon closing. Agency: At the signing of this agreement,neither party is represented by an agent. Condition of Title: Title to the property shall be marketable at closing. Seller authorizes the escrow agent to apply for a standard form buyer's policy of title insurance,at Buyer's expense. Title shall be conveyed by Statutory Warranty Deed_ Closing Costs and Prorations: Buyer shall pay all costs incurred in this transaction. Taxes for the current year shall be prorated as of the date of closing. Performance: Time is of the essence of this agreement. Agreement: On this 17th day of_October. 1997,Buyer agrees to purchase this property on the above terms and conditions. City of Renton, 200 Mi ue S,Reston WA 98055 BY: f Thomas G.Bo , Property Services Supervisor Acceptance: On this 17th day of Octobcr, 1997,Seller agrees to sell the property on the above terms and conditions,and acknowledges receipt of a copy of this agreement: �et rrl FlizabErth Picini TOTAL P.03 CITF RENTON "LL Office of the City Attorney J e Tanner,Mayor Lawrence I Warren May 19, 1997 Marilyn Petersen City Clerk City of Renton 200 Mill Avenue South Renton, Washington 98055 Re: LycetteBlume Acquisition Dear Ms. Petersen: Enclosed is the original Statutory Warranty Deed, recorded by the King County Recorder, under recording number 970502-0406. Please retain this document for your records. Please contact me if you have any questions. Very truly yours, Stephanie Rary Legal Assistant to David M. Dean Enc. cc:Sue Carlson sr.3:lyc-blu.1 Post Office Box 626 - 1000 S. 2nd Street- Renton, Washington 98057 - (206)255-8678 M This DaDer contains 50%recvcled material.20%Dost consumer Return Address: Warren, Kellogg, Barber, Dean & Fontes, P.S. P.O. Box 626 Renton, Washington 98057-0626 O r� Please print or type information WASHINGTON STATE RECORDERS Cover Sheet (RCW 65.04) Docume5fff le(j) (��IIs�ns contained therein): (all areas applicable to your document must be filled in) Mft LO 1. Statutory Warranty Deed v Reference Number(s) of Documents assigned or released: Additional reference #'s on page of document. Grantor(s) (Last name first, then first name and initials) 1. Lycette, John P. Jr. 2. Lycette, Beverly R. 3. University Enterprises, Inc. ❑Additional names on page of document. Grantee(s) (Last name first, then first name and initials) 0 1. City of Renton ❑Additional names on page of document. Legal description (abbreviated: i.e. lot, block, plat or section, township, range) Lts 2, 3, 4, 5, 16, 17, and 18, Blk 2, Mtr Line Addn to Renton, Vol 9/50, except e 6 ft Lts 16, 17, and 18 W K Additional legal on page 2 of document. z Assessor's Property Tax Parcel/Account Number 569600-0065; 569600-0070; 569600-0055 d ❑Assessor Tax # not yet assigned c Cn The Auditor/Recorder will rely on the information provided on the form. The staff will not read the document to verify the accuracy or completeness of the indexing information provided herein. ,a QCP CU .r- STATUTORY WARRANTY DEED - 1 M. !: 0 C/R.MISC\I.YCETTE%TATWARR:04-30-97idm E154i978 05/02/97 .00 1000000.00 STATUTORY WARRANTY DEED JOHN P. LYCETTE, JR. and BEVERLY R. LYCETTE, husband and wife; and UNIVERSITY ENTERPRISES, INC., a Washington corporation, for and in consideration of Ten Dollars ($10) and other good and valuable consideration in hand paid, conveys and warrants to the CITY OF RENTON, a Washington municipal corporation, the following described real estate, situated in King County, State of Washington: Lots 2, 3, 4, 5, 16, 17, and 18, Block 2, Motor Line Addition to Renton, according to the plat thereof recorded in Volume 9 of Plats, page 50, in King County, Washington; EXCEPT the east 6 feet of Lots 16, 17, and 18 conveyed to City of Renton under King County Recording Number 910200 for street purposes. SUBJECT TO: (1) Unrecorded leaseholds, if any, including lease to S & K Motors, Inc.; rights of vendors and holders of security interests on personal property installed upon said property and rights of tenants to remove trade fixtures at the expiration of the term of lease. O O (2) General and special district taxes for 1997. O 4 (3) Water, Metro, and other utility charges, if any. DATED: May 1, 1997. Gf�li�-1 HN P. LYCETTE, A. 6, P�� �e BEVERLY R. LYCETTE UNIVERSITY ENTERPRISES, INC. a Washington corporation y— OHN K. BLUME, President STATUTORY WARRANTY DEED - 2 C/R.M IS C\I.YC ETCEVSTAT W AR R:04-30.97:1 dm STATE OF WASHINGTON ) ss COUNTY OF KING ) I certify that I know or have satisfactory evidence that and JOHN P. LYCETTE, JR. and BEVERLY R. LYCETTE, are the persons who appeared before me, and who signed this instrument and acknowledged it to be their free and voluntary act for the uses and purposes mentioned in the instrument. DATED: May 1, 1997. 41 •``'= D�ARr'�,� - ary Public Lisa D. Miner in and for the State of Washington. s�• ti;'c;^ My appointment expires: c 0 F VJ 11 STATE'6Ft WASHINGTON ) ss p COUNTY OF KING ) OI certify that I know or have satisfactory evidence that John K. Blume is the person who appeared before me, and who signed this instrument, on oath stated that he was Q, authorized to execute the instrument and acknowledged it as the President of UNIVERSITY ENTERPRISES, INC., a Washington corporation, to be the free and voluntary act of such party for the uses and purposes mentioned in the instrument. DATED: May 1, 1997. 40001 W.16 If# i`%p�or, Rr'�, otary Public Lisa D. Miner • •-•'• "= in and for the State of Washington. P041 ,� J,:%v My appointment expires: r` STATUTORY WARRANTY DEED - 3 C/R.M IS CILYCEITEISTATWARR:04-30-971dm R`40 ,r CIT OF RENTON "LL Office of the City Attorney Jesse Tanner,Mayor Lawrence J.Warren MEMORANDUM To: Marilyn J. Petersen, City Clerk From: Anne Santos, Legal Assistant to Lawrence J. Warren, City Attorney Date: July 22, 1997 Subject: LycetteBlume Parcel I am enclosing the Policy of Title Insurance for the above-referenced property for the City's file. Anne Santos LJW:as. cc: Jay Covington Sue Carlson A8:132.91. Post Office Box 626 - 100 S. 2nd Street- Renton, Washington 98057 - (206)255-8678 ®This paper contains 50%recycled material,20%post consumer 11, WASHINGTON TITLE COMPANY 15 S. GRADY WAY, SUITE 120, RENTON, WA 98055, (206) 255-7575 J TICOR TITLE INSURANCE _ Policy of Title Insurance American Land SUBJECT TO THE EXCLUSIONS FROM 2. Any defect in or lien or encumbrance on the Title Association COVERAGE, THE EXCEPTIONS CON- title; Owner's Policy TAINED IN SCHEDULE B AND THE (10-17-92) PROVISIONS OF THE CONDITIONS AND 3. Unmarketability of the title; STIPULATIONS,TICOR TITLE INSURANCE COMPANY, a California corporation, herein 4. Lack of a right of access to and from the land. called the Company, insures, as of Date of Policy shown in Schedule A, against loss or The Company will also pay the costs, damage,not exceeding the amount of insurance attorneys'fees and expenses incurred in defense stated in Schedule A,sustained or incurred by of the title, as insured, but only to the extent the insured by reason of: provided in the Conditions and Stipulations. 1. Title to the estate of interest described in This policy shall not be valid or binding until Schedule A being vested other than as countersigned below by an authorized signatory stated therein; of the Company. ISSUED BY: WASHINGTON TITLE COMPANY TICOR TITLE INSURANCE COMPANY By /f President Attest Secretary Authonz Signatory ALTA OWNER'S POLICY(10-17-92) T#24 of amoes pegs paan,ul aql'buipaaooid jo uoiloe Aur -4sualop agl ao�apinoid ao -paansul aql 01 u9nir "e6uow Aauow aseyoind a Aq painoes gs9upelgopul aln0asad of Biu -dwoO aql saalnbei jo sl!waad�(ollo ajaym sase0 pe ul (p) ue(n)JO,P, aql u!is !jo alelsa ue(1)aayl!e to poinsw aql woal aasegoond -japio jo luawabpnf �(ue 10 cone}ul aoaol ui onu!luoo lou lleys�(ollod slgl -lsaialul ao alelsa eql 10 OSJOAP72 �(ue woal leadde of 'uollaaoslp alos sl! u! 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Name of Insured: CITY OF RENTON, a Washington municipal corporation 2. The estate or interest in the land which is covered by this policy is: FEE SIMPLE 3. Title to the estate or interest in the land is vested in: CITY OF RENTON, a Washington municipal corporation 4. The land referred to in this policy is described as follows: Lot(s) 2, 3, 4, 5, 16, 17 and 18, Block 2, Motor Line Addition to Renton, according to the plat thereof recorded in Volume 9 of Plats, page 50, in King County, Washington; EXCEPT the east 6 feet of Lot(s) 16, 17 and 18 conveyed to City of Renton under King County Recording Number 910200 for street purposes. 1 R107454 ' 1 r SCHEDULE B Policy No. R107454 EXCEPTIONS FROM COVERAGE This policy does not insure against loss or damage (and the Company will not pay costs, attorneys' fees or expenses) which arise by reason of. GENERAL EXCEPTIONS: A. Rights or claims disclosed only by possession,or claimed possession,of the premises. B. Encroachments and questions of location,boundary and area disclosed only by inspection of the premises or by survey. C. Easements, prescriptive rights, rights-of-way, streets, roads, alleys or highways not disclosed by the public records. D. Any lien,or right to a lien,for contributions to employee benefit funds,or for state workers'compensation,or for services,labor,or material heretofore or hereafter furnished,all as imposed by law,and not shown by the public records. E. Taxes or special assessments which are not yet payable or which are not shown as existing liens by the public records. F. Any service, installation, connection, maintenance, tap, capacity or construction charges for sewer, water, electricity, natural gas or other utilities, or garbage collection and disposal. G. Reservations and exceptions in United States Patents or in Acts authorizing the issuance thereof. H. Indian tribal codes or regulations,Indian treaty or aboriginal rights,including easements or equitable servitudes. I. Water rights, claims or title to water. SPECIAL EXCEPTIONS: 1. GENERAL AND SPECIAL TAXES AND CHARGES: First half delinquent May 1, Second half delinquent November l: YEAR: 1997 GENERAL TAXES: AMOUNT BILLED: $520.23 AMOUNT PAID: $0.00 AMOUNT DUE: $520.23 SPECIAL DISTRICT: AMOUNT BILLED: $1.25 AMOUNT PAID: $0.00 AMOUNT DUE: $1.25 TAX ACCOUNT NUMBER: 569600-0065-00 LEVY CODE: 2100 CURRENT ASSESSED VALUE: Land: $35,000.00 Improvements: $2,500.00 END OF POLICY 2 R107454 HOME OWNER'S INFLATION PROTECTION ENDORSEMENT Issued by TICOR TITLE INSURANCE COMPANY Attached to and forming a part of Policy of Title Insurance No. R107454 The Company, recognizing the current effect of inflation on real property valuation and intending to provide additional monetary protection to the insured Owner named in said Policy, hereby modifies said Policy, as follows: 1. Notwithstanding anything contained in said Policy to the contrary, the amount of insurance provided by said Policy, as stated in Schedule A thereof, is subject to cumulative annual upward adjustments in the manner and to the extent hereinafter specified. 2. "Adjustment Date" is defined, for the purpose of this Endorsement, to be 12:01 a.m. on the first January 1 which occurs more than six months after the Date of Policy, as shown in Schedule A of the Policy to which this Endorsement is attached, and on each succeeding January 1. 3. An upward adjustment will be made on each of the Adjustment Dates, as defined above, by increasing the maximum amount of insurance provided by said Policy (as said amount may have been increased theretofore under the terns of this Endorsement) by the same percentage, if any, by which the United States Department of Commerce Composite Construction Cost Index for the month of September immediately preceding exceeds such Index for the month of September one year earlier; provided, however, that the maximum amount of insurance in force shall never exceed 150% of the amount of insurance stated in Schedule A of said Policy, less the amount of any claim paid under said Policy which, under the terms of the Conditions and Stipulations, reduces the amount of insurance in force. There shall be no annual adjustment in the amount of insurance for years in which there is no increase in said Construction Cost Index. 4. In the settlement of any claim against the Company under said Policy, the amount of insurance in force shall be deemed to be the amount which is in force as of the date on which the insured claimant first learned of the assertion or possible assertion or possible assertion of such claim, whichever shall first occur. PROVIDED, HOWEVER, this endorsement shall be effective only if one of the following conditions exists at Date of Policy: a. The land described in this policy is a parcel on which there is only a one-to-four family residential structure, including all improvements on the land related to residential use, in which the insured Owner resides or intends to reside; or b. The land consists of a residential condominium unit, together with the common elements appurtenant thereto and related to residential use thereof, in which the Insured Owner resides or intends to reside. This Endorsement, when countersigned below by an authorized signatory, is made a part of the policy and is subject to all the terms and provisions thereof and of any prior endorsements thereto. Except to the extent expressly stated, it neither modifies any of the terms and provisions of the policy and prior endorsements, if any, nor does it extend the effective date of the policy and prior endorsements or increase the face amount thereof. IN WITNESS WHEREOF, the Company has caused its corporate name and seal to be hereunto affixed by its duly authorized officers. TICOR TITLE INSURANCE COMPANY W, A thorized Signatory INFLATION PROTECTION ENDORSEMENT Reorder Form No.7686 .r ENDORSEMENT Attached to Policy No. R107454 Issued by TICOR TITLE INSURANCE COMPANY 1. This Endorsement shall be effective only if at Date of Policy there is located on the land described in said Policy a one-to-four family residential structure, in which the Insured Owner resides, either at Date of Policy or within one year of Date of Policy, as the insured owner's principal residence. For the purpose of this Endorsement the term "residential structure" is defined as the principal dwelling structure located on the land, together with a garage or carport used for storage of noncommercial vehicles. The term "residential structure" shall not include detached outbuildings (other than a garage or carport as defined herein), driveways, walkways, boat ramps, docks, recreational facilities of any kind, subsurface lines,pipes,tanks, septic systems and/or drainfields, plantings of any nature, perimeter fences or perimeter walls, or any other improvements which are not an integral part of the residential structure. 2. The Company hereby insures the Insured Owner against loss or damage which the Insured Owner shall sustain by reason of- a. £a. the existence at Date of Policy of any unrecorded statutory liens for labor or materials attaching to the estate or interest arising out of any work of improvement on the land in progress or completed at the Date of the Policy, except those liens arising out of a work of improvement for which the insured has agreed to be responsible. b. the removal of the residential structure or interference with the use thereof for ordinary residential purposes as the result of a final Court Order or Judgment, based upon the existence at the Date of Policy of (1) any encroachment of the residential structure or any part thereof onto adjoining lands, or onto any easement shown as a special exception in Schedule B of the Policy, or onto any unrecorded subsurface easement; (2) any violation on the land of enforceable covenants, conditions or restrictions provided that this coverage shall not refer to or include the terms, covenants and conditions contained in any lease, sublease or contract of sale referred to in this Policy; 3) any violation of applicable zoning ordinances to the extent that such ordinances regulate (a) area, width or depth of the land as a building site for the residential structure; (b) floor space area of the residential structure; (c) setback of the residential structure from the property lines of the land; or (d) height of the residential structure. C. damage to the residential structure resulting from the exercise of any right to use the surface of the land for the extraction or development of the minerals shown as an exception in Schedule B, or excepted from the description of the land. For purposes of this endorsement, the words "covenants," "conditions" or "restrictions" shall not be deemed to refer to or include any covenants, conditions or restrictions relating to environmental protection, except to the extent that a notice of violation or alleged violation affecting the land has been recorded in the public records at Date of Policy and is not excepted in Schedule B. This Endorsement, made a part of the policy and is subject to all the terms and provisions thereof and of any prior endorsements thereto. Except to the extent expressly stated, it neither modifies any of the terms and provisions of the policy and any prior endorsements, if any, nor does it extend the effective date of the policy and prior endorsements or increase the face amount thereof. T C R IT I URANCE COMPANY i Authorized Signatory HO E IT ADDITIONAL PROTECTION ENDORSEMENT-WA Form F.7683(Rev. 12.95) •- - _ - - AIRF AlemOo K70 MAP CITY OF RENTON SCALE. i„ SE18 -- 23 _ 5 _ ioor - /eo 30 jO co1318.14 h /p -s i 4° vs zo ,?'• y h Jo 2 3 sx u ioo h 9 h / ( ZO All 4 t°e�6 hyo fi 7 • v; 8 `°0 B = 2 4;p /9 44 w 0 r x s n o �o,�6 ' 7 .00p 13 41SoS yo 65 ti1b �ti 2Z/8 .G w I ✓+ Q ° S M es° w zsr.fs 6t• . 1Lp,0 s w /. �.+. w T N afro25 ✓�'��/�� ` : q rP°v : i� ti 31 p• ` 4 �P°ti �o, IS, $ ' : / s � o• ;.e I p , S•V G �'N` n tio!!'0 2” 3 /6. m : 7 �h co �6 �° �T rooA v A `1h ti4 /4 '�'n • S�� O /.70./2 a �"tib �' .ti1'�/.3 ' y,,0 ��a 6 N,�°� 0 =•ons Ig» , .e _v4• of ' y �e � 14 9 3° A .�» ? .3 j4 w ioo fid' Jo !e 44 3*•� 0 10 7J7.e7 S. n THIRD ST 'zo o A o 3/i � � e• /3 '� n 24 44 30 3e 4444 4e 40 Of 44• V) S. 4 3 P / ao so b 5 4 3As cj 2 4,0 0 0 0 fell;7 ^ I o 17 h • 00 6 oti ,010 -:0s• Y APO °°� os os� C?;4p Q pn 2 M ti3 j6 4t A4 a fo ao a > 4 46 40 44 tal hD 'LO o /Zo KO O KO / Ko O t- Vj L� /S t 400,e, w y w 1 . .•pr 40 27� 7 ,M°°3,�2'f c `^ h 0 011' 23= 8 „•°°SS R��°! a3: r 8 y�`0 X340 2g r ; 4 to— !o 8 'S" 4 V) 0 0 /Z° a ,� 4J 26 22 �" , O ••°4� ,•°�°jo 22 W , •j ,4o�p 150580 a�.°$ + Q` : 5 N OJ ZZ,i 4 •° e 0} Z ke00 �` � O � � � /3 10 ,•�,1•>:0 // ,• o .o Pt0: // 4e�?t 20: F- o M 7 7 QW /9 r L /x 0 V0_ 8 ° /a: /3 �C (, ••o°�s0/B= 8 /3 0110 �O�iS/d m „ 8/2o h'' /'!,ti''io Lu T; / °°0 M 00 W.ea 2/S �e,�o� ` „Zo'°o`/6 �° ao 4 /X •.�yo3o0 r< i �..7 a r.1�ti'ti pa A W S. FOURTH nv.tid. {.1.. "� oti•je �yc -- p f0 AO 40 40 /• 40 4C 40 y r�Gh 730f/biy ?' t!' M z o�ti/F 6 5 4 'q 9 /i o r h si6°t DIED . 0 0 M R 01 4o 40 4e 4D 40 r C 4'> the Company the right to so prosecute or provide defense in the action or 7. DETERMINATION,EXTENT OF LIABILITY AND COINSURANCE proceeding,and all appeals therein,and permit the Company to use,at its option, the name.of'the insured for this purpose. Whenever ested by the Company, This policy is a contw `indemnity against actual monetary loss or damage the insured,at the Company's expense,shall give the**npany all reasonable aid sustained or incurred Ove insured claimant who has suffered loss or damage (i)in any action or proceeding,securing evidence,obtaining witnesses,prosecuting by reason of matters insured against by this policy and only to the extent herein or defending the action or proceeding,or effecting settlement,and(ii)in any other described. lawful act which in the opinion of the Company may be necessary or desirable to (a) The liability of the Company under this policy shall not exceed the least of: establish the title to the estate or interest as insured. If the Company is prejudiced (i)the Amount of Insurance stated in Schedule A;or by the failure of the insured to furnish the required cooperation,the Company's (ii) the difference between the value of the insured estate or interest as obligations to the insured under the policy shall terminate,including any liability or insured and the value of the insured estate or interest subject to the defect,lien obligation to defend,prosecute,or continue any litigation,with regard to the matter or encumbrance insured against by this policy. or matters requiring such cooperation. (b) In the event the Amount of Insurance stated in Schedule A at the Date of Policy is less than 80 percent of the value of the insured estate or interest or the 5. PROOF OF LOSS OR DAMAGE full consideration paid for the land,whichever is less,or if subsequent to the date of Policy an improvement is erected on the land which increases the value of the In addition to and after the notices required under Section 3 of these insured estate or interest by at least 20 percent over the Amount of Insurance Conditions and Stipulations have been provided the Company,a proof of loss stated in Schedule A,then this Policy is subject to the following: or damage signed and sworn to by the insured claimant shall be furnished to (i)where no subsequent improvement has been made,as to any partial the company within 90 days after the insured claimant shall ascertain the facts loss,the Company shall only pay the loss pro rata in the proportion that the amount giving rise to the loss or damage. The proof of loss or damage shall describe of insurance at Date of Policy bears to the total value of the insured estate or the defect in, or lien or encumbrance on the title, or other matter insured interest at Date of Policy;or against by this policy which constitutes the basis of loss or damage and shall (ii)where a subsequent improvement has been made,as to any partial state,to the extent possible,the basis of calculating the amount of the loss or loss,the Company shall only pay the loss pro rata in the proportion that 120 percent damage. If the Company is prejudiced by the failure of the insured claimant of the Amount of Insurance stated in Schedule A bears to the sum of the Amount to provide the required proof of loss or damage,the Company's obligations to of Insurance stated in Schedule A and the amount expended for the improvement. the insured under the policy shall terminate,including any liability or obligation The provisions of this paragraph shall not apply to costs,attorneys'fees and to defend, prosecute, or continue any litigation, with regard to the matter or expenses for which the Company is liable under this policy,and shall only apply matters requiring such proof of loss or damage. to that portion of any loss which exceeds, in the aggregate, 10 percent of the In addition,the insured claimant may reasonably be required to submit to Amount of Insurance stated in Schedule A. examination under oath by any authorized representative of the Company and (c) The Company will pay only those costs, attorneys' fees and expenses shall produce for examination, inspection and copying, at such reasonable incurred in accordance with Section 4 of these Conditions and Stipulations. times and places as may be designated by any authorized representative of the Company, all records, books, ledgers, checks, correspondence and 8. APPORTIONMENT memoranda, whether bearing a date before or after Date of Policy, which reasonably pertain to the loss or damage. Further, if requested by any If the land described in applicable Schedule consists of two or more parcels authorized representative of the Company,the insured claimant shall grant its which are not used as a single site,and a loss is established affecting one or more permission, in writing, for any authorized representative of the Company to of the parcels but not all,the loss shall be computed and settled on a pro rata basis examine,inspect and copy all records,books,ledgers,checks,correspondence as if the amount of insurance under this policy was divided pro rata as to the value and memoranda in the custody or control of a third party, which reasonably on Date of Policy of each separate parcel to the whole, exclusive of any pertain to the loss or damage. All information designated as confidential by the improvements made subsequent to Date of Policy,unless a liability or value has insured claimant provided to the Company pursuant to this Section shall not otherwise been agreed upon as to each parcel by the Company and the insured be disclosed to others unless, in the reasonable judgement of the Company, at the time of the issuance of this policy and shown by an express statement or it is necessary in the administration of the claim. Failure of the insured by an endorsement attached to this policy. claimant to submit for examination under oath, produce other reasonably requested information or grant permission to secure reasonably necessary 9. LIMITATION OF LIABILITY information from third parties as required in this paragraph shall terminate any liability of the Company under this policy as to that claim. (a) If the Company establishes the title,or removes the alleged defect,lien or encumbrance,or cures the lack of a right of access to or from the land,or cures 6. OPTIONS TO PAY OR OTHERWISE SETTLE CLAIMS: TERMINATION OF the claim of unmarketability of title,all as insured,in a reasonably diligent manner LIABILITY by any method,including litigation and the completion of any appeals therefrom, it shall have fully performed its obligations with respect to that matter and shall not In case of a claim under this policy, the Company shall have the following be liable for any loss or damage caused thereby. additional options: (b) In the event of any litigation,including litigation by the Company or with the (a) To Pay or Tender Payment of the Amount of Insurance. Company's consent,the Company shall have no liability for loss or damage until To pay or tender payment of the amount of insurance under this policy together there has been a final determination by a court of competent jurisdiction, and with any costs, attorneys'fees and expenses incurred by the insured claimant, disposition of all appeals therefrom,adverse to the title as insured. which were authorized by the Company, up to the time of payment or tender of (c)The Company shall not be liable for loss ordamageto any insured for liability payment and which the Company is obligated to pay. voluntarily assumed by the insured in settling any claim or suit without the prior Upon the exercise by the Company of this option,all liability and obligations to the written consent of the Company. insured underthis policy,other than to make the payment required,shall terminate, including any liability or obligation to defend,prosecute,or continue any litigation, 10. REDUCTION OF INSURANCE;REDUCTION OR TERMINATION OF and the policy shall be surrendered to the Company for cancellation. LIABILITY (b)To Pay or Otherwise Settle with Parties Other than the Insured or With the Insured Claimant. All payments under this policy,except payments made for costs, attorneys' (i)to pay or otherwise settle with other parties for or in the name of an insured fees and expenses,shall reduce the amount of the insurance pro tanto. claimant any claim insured against under this policy, together with any costs, attorneys' fees and expenses incurred by the insured claimant which were 11. LIABILITY NONCUMULATIVE authorized by the Company up to the time of payment and which the Company is obligated to pay;or It is expressly understood that the amount of insurance under this policy shall (ii) to pay or otherwise settle with the insured claimant the loss or damage be reduced by any amount the Company may pay under any policy insuring a provided for under this policy, together with any costs, attorneys' fees and mortgage to which exception is taken in Schedule B or to which the insured has expenses incurred bythe insured claimant which were authorized by the Company agreed,assumed,or taken subject,or which is hereafter executed by an insured up to the time of payment and which the Company is obligated to pay. and which is a charge or lien on the estate or interest described or referred to in Upon the exercise by the Company of either of the options provided for in Schedule A,and the amount so paid shall be deemed a payment underthis policy paragraphs b(i)or(ii),the Company's obligations to the insured under this policy to the insured owner. for the claimed loss or damage,otherthan the payments required to be made,shall terminate,including any liability or obligation to defend,prosecute or continue any litigation. 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PURCHASE AGREEMENTS: The undersigned appoint you as escrow agent for the closing of the above-mentioned real estate transaction in accordance with the terms and conditions of an Option to Purchase Agreement ("Agreement") without amendments or any changes, dated October 31, 1996, a copy of which is attached, between the undersigned Seller and Purchaser. The Agreement, and legal description therein (including future corrections thereto) are incorporated herein by reference. To the extent that any terms of that Agreement are inconsistent herewith, they are amended to conform to the terms of these Escrow Instructions. 2. INSTRUMENTS: The following instruments are deposited with the escrow holder: Statutory Warranty Deed; Assignment of Leases (3); and Assignment of Permit. The undersigned deposits with you the amounts necessary to close as set forth in the attached Real Estate Transaction Closing Statements ("Closing Statement"), together with necessary conveyancing and security instruments, which funds and instruments you are authorized to use when all parties have approved these instructions, and you hold for the account of the Purchaser the appropriate conveyancing instrument, and for the account of the Seller the appropriate promissory notes and/or security instruments and funds, all as set forth in the Agreement. From the sums deposited by the parties, you are authorized to deduct the charges as set forth in the attached Closing Statements. 3. TITLE INSURANCE: 3.1 General Information: The undersigned acknowledge that they understand that there are several different types of policies of title insurance, all of which can be issued with various endorsements which expand, explain or modify the policy coverage or insure against special risks. The two major types of coverage are Standard Coverage Policy and Extended Coverage Policy. A Standard Coverage Policy has general exceptions which are contained in Schedule "B." For the most part these relate to off-record matters, such as encroachments or questions of location, boundary and area which an accurate survey would disclose, public or private easements not disclosed of record, rights of persons in possession of the property, material or labor liens, water rights, utility charges, etc. ESCROW INSTRUCTIONS - 1 An Extended Coverage Policy will generally not include some or all of the Schedule "B" exceptions noted above. However, the Extended Coverage Policy will cost approximately 30% more than the Standard Coverage Policy. In addition the title insurer may require a survey of the boundaries of the property and the improvements located thereon if the title insurer's inspection of the property leaves any doubt with regard to encroachments or boundary disputes. Thus, there would be additional expense and delay caused by the survey. Notwithstanding the terms of the agreement, the purchaser has now authorized and instructed the Closing agent to use a Standard Coverage Policy to close this transaction. The undersigned confirm that agreement. 3.2 Owner's Policy. You are instructed to, on behalf of the Purchaser, order from Washington Title Insurance Company, a preliminary commitment for an Owner's standard form policy of title insurance in the face amount of One Million Dollars ($1,000,000). 3.3 Reliance. You are entitled to rely upon the preliminary commitment, and have no obligation to make any independent search of public records, or inquiry of any persons, including the Seller, Purchaser and Broker. 4. ESCROW FEE: Your escrow fee in the total sum of Two Thousand Five Hundred Dollars ($2,500) is intended as compensation for the ordinary services as contemplated by these instructions. In the event that the conditions of this escrow are not promptly fulfilled or that you render any service not provided for in these instructions, or in the event there shall be an assignment of the interest of any party to these instructions or any modification in these instructions, you shall be reasonably compensated for such extraordinary services and reimbursed for all costs and expenses occasioned by such action. 5. REPRESENTATION: Seller is aware that Warren, Kellogg, Barber, Dean & Fontes, P.S., Attorneys at Law, are acting as the attorneys for the Purchaser. Seller waives any potential conflict of interest that may arise by reason of that relationship. Seller is aware of their right to be represented by independent counsel of their own choice. 6. LIMITATIONS: YOU ARE TO HAVE NO LIABILITY OR RESPONSIBILITY WITH RESPECT TO ANY MATTERS CONNECTED WITH THE FOLLOWING: (a) Heating oil in tank, water, Metro and other utility charges. (b) Requirements of the Consumer Protection Act, Truth In Lending Act, the Real Estate Settlement Procedures Act, Inter-State Land Sales Act, and any similar laws and regulations. ESCROW INSTRUCTIONS - 2 (c) Personal property, or encumbrances thereon, including personal property taxes, matters relating to the Bulk Sales Act, sales taxes and instruments riled under the Uniform Commercial Code, which matters will be adjusted between the Seller and Purchaser outside of this escrow. (d) Forgeries or false personations of any person or party in connection with these instructions or this escrow generally. (e) Assessments, utility connection and any other charges which are not of record and disclosed in the preliminary commitment for title insurance, including omit taxes which may appear on future tax statements. Seller warrants to you and to the Purchaser that there are no recently completed, pending, or announced local improvements for streets, underground wiring, water, sewer, etc., chargeable or to become chargeable to the property. All such matters shall be adjusted between Seller and Purchaser outside of this escrow. (f) The accuracy or correctness of any representations or provisions in the Agreement, or otherwise made by the parties or Broker. (g) Insurance on the property. (1) Purchaser understands and acknowledges that it is Purchaser's responsibility to provide for fire and casualty insurance upon the premises commencing as of or prior to the closing date in order to protect Purchaser's interest in the property. (2) In the event that Seller is financing any portion of the purchase price, Purchaser agrees, on or before the closing date, to acquire and pay at least the first year's premium on a new fire and casualty insurance policy with extended coverage in an amount not less than the value of the improvements on the property, or as set forth in the Agreement. The policy shall, to the extent that there is any balance owed them, name the Seller and any other holders of security against the property as loss payees. Purchaser agrees to immediately deliver to Seller a copy of the policy. (3) Seller has no fire insurance on the property, however, tenant does carry fire insurance. (h) Rental or lease arrangements concerning the property, including accounting or pro-ration of rentals or transfer or accounting of tenant deposits. ESCROW INSTRUCTIONS - 3 � torr= (i) The parties understand that you have not inspected the subject property and have no knowledge regarding: (1) The condition of the real property; (2) Whether or not any items of personal property referred to in the Agreement, if any, remain on the property or will remain on the property on delivery of possession to Purchaser; or (1) Encroachments or questions of location, boundary and area, which an accurate survey may disclose. Each party specifically declines to obtain a survey of the premises which would disclose any such matters. (m) Public or private easements, streets, roads, alleys or highways, unless disclosed of record by recorded plat or conveyance, or decree of a court of record. (n) Exceptions and reservations in United States Patents. (o) Rights or claims of persons in possession, or claiming to be in possession, not disclosed by the public records. (p) Material or labor liens, or liens under the Workmen's Compensation Act not disclosed by the public records. (q) Water rights or matters relating thereto. (r) Any service, installation or construction charges for sewer, water, electricity, or garbage removal. (s) General taxes not now payable; matters relating to special assessments and special levies, if any, preceding the same becoming a lien. (t) Right of use, control or regulation by the United States of America, in the exercise of powers over navigation. (u) Any prohibition or limitation on the use, occupancy or improvement of the land resulting from the rights of the public or riparian owners to use any waters which may cover the land. (v) Zoning (present or potential) of the property, and the legality or propriety of the Purchaser's proposed use of the property under existing land use codes. ESCROW INSTRUCTIONS - 4 �..+ *400 7. MISCELLANEOUS: 7.1 A copy of the Closing Statement and other instruments may be delivered to any broker involved in the transaction, as well as to mortgagees or holders of other liens, and to attorneys representing any of the parties. You are authorized, but not required, to notify prior lien holders of the existence of any contract or other instrument securing all unpaid balances owed Seller by Purchaser. 7.2 These instruments are complete, and there are no oral or other agreements which modify or affect the same. Any future amendments or supplements to these instructions must be in writing, and delivered to you, before they shall be effective. 7.3 All notices and correspondence may be mailed or delivered to the parties at the addresses shown below. You shall have no liability for any loss or delay involved in mailing any instruments or monies. 7.4 The term "closing" is susceptible to several meanings. Generally, it means the time at which the Seller delivers title to the Purchaser in exchange for the purchase price. Normally, closing does not occur when the parties execute the legal documents at the closing agent's office or when the Purchaser delivers all or part of the purchase price to the closing agent but may be delayed several days until the documents and funds have been processed. 7.5 Seller represents that there are no lease deposits on the property. 8. TERMINATION: If you are unable to comply with these instructions, or are, in your sole opinion, unable or unwilling to close this sale in the manner provided in the Agreement, then you will so notify the Seller and Purchaser in writing. If neither party has filed any objection within ten (10) days after receipt of such notice, then you are instructed to return all instruments and monies to the party who signed the same or paid the money to you. Thereupon, you are, without the necessity of further concurrence or instruments from either of the parties, released from all liability in respect to this escrow. If within said ten (10) days, either of the parties objects to the return of the instruments or monies, or transfer to another closing agent, you are authorized, in your discretion, to either hold the same until agreement is reached, or to interplead the same with the Superior Court, at the expense of the parties. Any monies returned to the parties shall be less any expenditures which you have made on their behalf prior thereto, including, but not limited to, any title insurance cancellation fee and your full escrow fee. ESCROW INSTRUCTIONS - 5 9. CLOSING STATEMENT: The attached closing statement has been reviewed and is approved by the parties. Dated: May 1, 1997. Seller: Purchaser: t% THE CITY OF RENTON J P. LYCETTE, JR. c. Sec. No.: 539-26-2452 By MAY,& JESSE TANNER 'l � - . � ,� E� �/Ce ATTEST: BEVERLY R. LYCETTE Soc. Sec. No.: 533-24-0263 UNIVERSITY ENTERPRISES, INC. BRENDA FRITSVOLD, Deputy City Clerk a Washington corporation 2 B OHNK. BLUME, President TIN: 91-0752059 ESCROW INSTRUCTIONS - 6 ESTIMATED SELLER'S REAL ESTATE TRANSACTION CLOSING STATEMENT LYCETTE/UNIVERSITY ENTERPRISES to CITY OF RENTON Property Address: 233 Burnett Avenue South Renton, Washington 98055 Closing Date: May 1, 1997 DESCRIPTION CHARGES CREDITS Sales Price 1,000,000.00 Check to Seller, John P. Lycette, fir., and Beverly R. Lycette: $500,000.00 500,000.00 Check to Seller, University Enterprises, Inc.: $500,000.00 500,000.00 Extended Totals 1,000,000.00 1,000,000.00 ESCROW INSTRUCTIONS - 7 ESTIMATED PURCHASER'S REAL ESTATE TRANSACTION CLOSING STATEMENT LYCETTE/UNIVERSITY ENTERPRISES to CITY OF RENTON Property Address: 233 Burnett Avenue South Renton, Washington 98055 Closing Date: May 1, 1997 DESCRIPTI©N TCHARGESCREDITS Sales Price $1,000,000.00 Title Insurance Premium inc. Sales Tax 2,539.38 Recording Fees 10.00 Wire Transfer Fee 9.00 Escrow Fee 2,500.00 Check from Purchaser to Close: $1,005,058.38 1,005,058.38 Extended Totals 1,005,058.38 1,005,058.38 ESCROW INSTRUCTIONS - 8 PAYOR'S REQUEST FOR TAXPAYER IDENTIFICATION NUMBER ESCROW NO. 0175-072 DATE OF CLOSING: May 1, 1997 PROPERTY ADDRESS: 233 Burnett Avenue South Renton, Washington 98055 Are you selling or refinancing the above property? Selling X Refinancing Is this property your primary residence? Yes No X Are you a United States Citizen? Yes X No SELLER/REFINANCING INFORMATION: LYCETTE, JR., JOHN P. LYCETTE, BEVERLY R. UNIVERSITY ENTERPRISES, INC. 5665 NE Windemere Road Seattle, Washington 98105 206-726-1849 Soc. Sec. No.: 539-26-2452 Soc. Sec. No.: 533-24-0263 TIN: 91-0752059 CERTIFICATION: Under the penalties of perjury, I certify that the information provided above is true, correct and complete. UNIVERSITY ENTERPRISES, INC. J HN P. LYCETTE, JR. ate: S /—`/ Bye �- • �:,-�7 ohn K. Blume, President BEVERLY R. L CETTE Date: S-/- � 7 ESCROW INSTRUCTIONS - 9 Of-J-.31-1' 96 15:its WARREN- KELLIDGG ET AL P.�.-� OPTION TO PURCHASE This agreement is made between the City of Renton, a municipal corporation (Optionee) , and John P. Lycette, Jr . and University Enterprises, Inc . (Optioner) . 1 . THREAT OF CONDEMNATION, This agreement is entered into under threat by the City of Renton to use its eminent domain powers to acquire the premises . legally described on Exhibit A for public purposes . Exhibit A includes property held in fee by Optioner, property leased frog, the City of Seattle Water Department and two lots leased from private individuals (the Adams' leases) . If Optionee exercises this option, Optionee will confirm the exercise by City Council action and recite in the action that Optionee is taking the premises under threat of condemnation . 2 . OPTION TO PURCHASE. The Optioner grants unto the Optionee an option to purchase the premises herein under the following terms and conditions : 2 . 1 Exercise ; This option may be Exercised by the C ty of Renton at any time before February 7 , 1997 , or ninety (90) days after the date of this option, whichever is later . Not-ice of exercise shall be in writing and be delivered to Optioner by personal service, with written receipt therefor, or by certified mail , return receipt requested, addressed to Optionex' s address . 2 . 2 Purchase Price : The purchase price shall_ be paid all cash at closing. The purchase price shall be One Million Dollars ($1, 000, 000 . 00) net of closing costs , escrow fees, title insurance and other expenses of conveyance, escrow and closing . 2 . 3 Title : Title to the premises shall be free of encumbrances or defects except restrictions and reservations of record . Righ;.s reserved in Federal Patents or State Deeds, building or use restrictions general to the district , existing easements not inconsistent with the intended use of the restricted parcels , and building or zoning regulations or provisions shall not be deemed encumbrances or defects . Optioner' agrees to furnish and deliver to OPTION TO PURCHASE - 1 0CT-31-1996 15:0_5 WARR.REPJ, kELL013G ET KL P.t_,4,%� Optionee, at Optionee ' s expense, an extended form of policy of title insurance issued by Transamerica Title Insurance Company, and a preliminary commitment therefor, issued by Transamerica Title Insurance Company. The parties authorize the closing agent to apply for such title insurance upon the removal of all contingencies to this transaction. Optionee agrees to assume any cancellation fee for the respective commitments or policies . The title policy to be issued shall contain no exceptions other than those provided in the extended form. plus the encumbrances or defects noted in this paragraph. If title is not so insurable as above provided and cannot be made so insurable by the termination date set forth herein, this Agreement shall be terminated . If the premises are subject to an existing contract , mortgage, deed of test or ocher er,cumbrance which Optioner is to continue to pay, Optioner agrees to pay that contract , mortgage, deed of trust or other encumbrance in full at closing . The Title Commitment and any Title Update with exceptions shall be furnished to Optionee ::ithin ten (10) days of Optionee ' s exercise of this option . Optionee shall have thirty (30) days after tht: receipt of the Title Commitment and Title Update, and copies of all exceptions shown therein, vai_thin ,.,rich to notify Option o Optionee ' s disapproval of any exceptions shown in the Title Update ( "Title Notice" ) . In the event Optioner is unable or elects not to eliminate any such disapproved exceptions, Optioner shall notify Optionee in writing o-:ithin ten (10) days of Optioner' s receipt of the Title Notice . Thereupon:, Optionee may, within ten (10) days of receipt of said notice from Optioner, elect to waive Optionee' s objection to any disapproved exceptions, or in the alternative, Optionee may elect not to waive the exception and may elect� to rescind the exercise of the option to purchase . If Optionee fails to disapprove any exceptions within the thirty (30) day period, the exception(s) shall be deemed to have been approved by Optionee . If after Optioner advises Optionee that Optioner is unable to or elects not to eliminate any exception and Optionee does not elect to =naive the exception within the ten (10) day period, this option may, at Optioner' s election, be terminated . Irrespective of any time limits herein, any disputes with respect to title ;rust be resolved no later OPTION TO PURCHASE - 2 01-T-7-1-1996 15:06 WA REN, KELLCu.,G ET HL F.C=; G�9 VOW than the date of expiration of the ninety (90) days from the exercise of the option, otherwise this Agreement shall terminate . 2 . 4 Reoresentations and Warranties of the Optionor: Optioner represents and warrants to Optionee that to the best of Optioner' s knowledge no civil or criminal litigation, notice of violation or administrative proceeding has been brought under the Environmental Laws (including notices, demand letters or claims) which involves the Property or any release or threatened release of Hazardous Substances thereon . 2 . 5 -Contingencies : The obligation of the Optionee under this Agreement is contingent upon the occurrence of the following : (a) Receipt of an approval of such studies and/or environmental assessments or audits as may be deemed necessary by the Optionee, and at the expense of the Optionee, to determine the presence of any hazardous substance (as defined by RCW 70 . 105D. 020 (6) ) , or the release thereof which has resulted in or contributed to the need for remedial action under RCW Chapter 70 . 105D. As a part of this environmental assessment, .^_orr.cionly known as a Level II assessment, the Optionee shall have authority to enter upon the property to inspect it, and to inter- iew such parties as may be deemed appropriate by Optionee, including present and prior employees of the Optioner, regarding the prior use :,i the prem- s-2s . . Optionee has previously conducted a Level I assessment . Opt:ionee shall make a copy of any report or environment-n-1 assessments of tre property available to the Optioner immediately . The Optionee shall indemnify and hold harmless Optioner from any damage to the premises caused by its inspections, studies, or environmental assessments . Optioner is required to obtain the permission of the present Lessee to go upon the property. By exercising the option however, this contingency is removed (b) Approval by the City Council of the City of Renton by appropriate Council action of the closing of this transacr.ion . By exercising the option herein, this contingency is removed . (c) Availability of budgeted funding from the Optionee sufficient to close this transaction. By exercising the option herein, this contingency is removed. OPTION TO PURCHASE - 3 0(__T T 1-11396 16 :•'r' IHF'F'Eh l, ICELLi o_;G E T NL P.C,)_ 0 taw (d) Receipt of an estimate of cleanup costs under the Level 11 assessment for $100, 000 . 00 or less inclusive of all costs . By exercising the option this contingency is removed . If• the cleanup costs are over $100, 000 this option is null and void and cannot be exercised . 2 . 6 Option Consideration : The consideration for this option .i.s the payment by the City of Renton for the Level 11 assessment . Optioner will be given a copy of the Level II assessment:. . 2 . 7 Conveyance : Transfer of Optioner' s i,-teres- in the premisea shall be by Statutory Warranty Deed . 2 . 8 ClosirPhis purchase shall be closed in the office of Warren, Kellogg, Barber, Dean & Fontes , P . S . , At torncys at Law . The parties will deposit in escrow with the closing agent:. all instruments and moneys necessarf to complete this purchase ir: accordance :rith this Agreement . Closing will be on or before March 2 , 1997 , unless both parties agree otherwise . Optioner retains the right to recei,✓e the benefits of the present leases on the property through the date Sound Mazda moves, estimated to be May 1, 1997 or such other date a-- the sthe parties may agree upon. However, irrespective of any provision regarding closing, closing will not occur until Optioner can deliver possession free of Elizabeth Picini and John G]. Adams ' lease obligations . This contingency can be removed if the City of Renton will assume the benefits and burdens of the leases and hold Ootioner harmless for any lease obligations . Optioner will assign to Optionee its lease obligations and rights to the Seattle City Water Department and S & K Motors, Inc . d/b/a Sound Mazda to Optionee . Copies of the leases will be provided to Optionee upon request . 2 . 9 Possession: Optioner shall deliver possession to Optionee on date of closing. 2 . 10 Condition of Property: Optionee and its representatives, prior to the closing date, will have been afforded the opportunity to make such inspections of the premises and matters related thereto as Optionee and its representatives desire . Optionee acknowledges and agrees that the premises are to be sold and conveyed to and accepted by Optionee in an "AS IS, WHERE IS" condition, WITH ALL FAULTS Al\'m DEFECTS . Except as specifically provided in section 2 . 4 , Optioner OPTION TO PURCHASE -- 4 OCT-31-1996 16:33 *AWWJARREN, KELU=o_,G ET NL tirr' P.04/06 makes no representations or warranties of any kind whatsoever, either express or implied, with respect to the premises . Optionee acknowledges that it is entering into this agreement on the basis of Optionee ' s own investigation of the physical and environmental conditions of the premises, including the subsurface conditions, and Optionee assumes the risk that adverse physical and environmental conditions may not have been revealed by its investigation . Notwithstanding the foregoing, nothing in this section implies an obligation that Optionee indemnify Optioner against claims or a liability for response costs to federal or state agencies to the extent Optioner is otherwise liable under applicable law for such response costs . Optionee acknowledges that notwithstanding any prior or contemporaneous oral or written representations, statements , documents or understandings, this agreement constitutes the entir-_ understanding of the parties with respect to the subject matter hereof and the purchase and sale of the premises, and supersedes any such prior or contemporaneous oral or written representation" statement, documents or understandings . 2 . 11 Default : If either party defaults in his contractual performance herein, the non-defaulting party may seek specific performance pursuant to the terms of this Agreement, damages, or rescission . The non-defaulting party shall be entitled to recover its costs and attorney' s fees in the even" counsel is retained as a result of such default . The option consideration paid to Optionor shall be retained by Optioner in any event . 2 . 12 Attorney ' s Fees : If either party named herein brings an action to enforce the terms hereof or declare rights hereunder, the prevailing party in any such action, on trial or appeal , shall be entitled to his reasonable attorney' s fees to be paid by the losing party as fixed by the court . 3 . CORPORATE AUTHORITY. If Optioner is a corporation, each individual executing this Option on behalf of said corporation represents and warrants that he is duly authorized to execute and deliver this Option on behalf of said corporation in accordance with a duly adopted OPTION TO PURCHASE - 5 OCT-31-1995 16:. JWARRE�1, KELLpr_:�_, ET AL G �;_;�,� resolution of the Board of Directors of said corporation or in accordance with the Bylaws of said corporation, and that this option is binding upon said corporation in accordance cv:ith its terms . ~ Dated. 1996 . OPTIONEE OPTIONER THE CITY OF RENTON By : Jesse Tanner, Mayor r n A . Lycett _ , Jr . — ATTEST: Bcvi�r.ly ice . --l.,yc_�tt:_ Marilyn tersen, City Clerk UNIVERSITY ENTERPRISES, Ir1C. 5;h n K . Blume, Presiderit STATE OF WASHINGTON ) ss COUNTY OF KING ) I certify that I know or have satisfactory evidence that John P . Lycette, Jr. is the person who appeared before me, and who signed this instrument and acknowledged it to be his free and voluntary act for the uses and purposes mentioned in the instrument . DATED : / © � 1996 . ry Public in and for'thf Sta of Washington, residing otary: JEAN ANDERSON My appointment expires : OPTION To PURCHASE - 6 nr_.T-31-1996 16:38 ;RF-EN, KELLOGG ET f;L STATE OF WASHINGTON ) ) ss COUNTY OF KING ) I certify that I know or have satisfactory evidence that Beverly R. Lycette is the person who appeared before me, and who signed this instr-ument and acknowledged it to be her free and voluntary act for the uses and purposes mentioned in the instrument . DATED . ' Q 1996 . of r Public in and for hE Star "' of ti'ashington, residing My appointment expires : _// -97 STATE OF WASHINGTON } ss COUNTY OF KING ) I certify that I know or have satisfactory evidence that John K. Blume is the person who appeared before rr:e, and ,,ho si.gn`3 t!1i instrument , on oath stated that he was authorized to execu=e the instrument and acknowledged it as the President of University Enterprises, Inc . to be the free and voluntary act of such party for the uses and purposes mentioned in the instrument . Dated: 1996 . NO /%&1,-,rArYL- Notary( Public in and for the State `V of Washington, residing at Sc'�t1le - - �eli� ai�c(�►-So Notary: �--=-- OF WASIA My appointment expires : -15 -,C)n_ CITY14 . 61 : as . OPTION TO PURCHASE - 7 EXHIBIT "A' The land referred to is situated in the County of King, State of Washington, and described as follows: PARCEL A: Lots 4 and 5, Block 2, Motor Line Addition to Renton, according to the plat thereof recorded in Volume 9 of Plats, page 50, in King County, Washington; PARCEL B: Lots 2, 3, 16, 17 and 18, Block 2, Motor Line Addition to Renton, according to the plat thereof recorded in Volume 9 of Plats, page 50, in King County, Washington; EXCEPT the east 6 feet of Lots 16, 17 and 18 conveyed to the City of Renton by deed filed under King County Recording Number 910200 for street purposes. SEATTLE CEDAR RIVER PIPE LINE, LEASE PROPERTY: That portion of the Cedar River Pipe Line Right-of-Way, in the northeast quarter of the southeast quarter, Section 18, Township 23 North, Range 5 East, W.M. in King County, Washington, in the H. H. Tobin Donation Land Claim 437, running from the easterly Right-of-Way margin of Logan Avenue South, southeasterly to the westerly Right-of-Way margin of Burnett Avenue South; EXCEPT that portion thereof lying within the Right-of-Way of South Third Street. cAfonns\optn_1 g1.doc tgb 11/8/96 %W ASSIGNMENT OF LEASE AGREEMENT FOR VALUE RECEIVED, JOHN P. LYCETTE, JR. and BEVERLY R. LYCETTE, husband and wife, and UNIVERSITY ENTERPRISES, INC., a Washington Corporation, ("Assignor") hereby assigns to CITY OF RENTON, a Washington municipal corporation, ("Assignee"), all right, title and interest owned and held by Assignor in the Lease with Nick G. Carras and Associates as Lessor and Loberg Oldsmobile-GMC, dated December 28, 1977, (known as the Bodcaw Lease) as it has been subsequently modified, assigned, and renewed. The Lessor's interest in the Bodcaw Lease is now owned by John P. Lycette, Jr. and Beverly R. Lycette, and University Enterprises, Inc., and the Lessee's interest in the Bodcaw Lease is now owned by S & K Motors, Inc. (Sound Ford). Assignor warrants that to the best of their knowledge all lease agreements are in full force and effect and that no rents have been prepaid. The leases cover those certain premises situated in the County of King, State of Washington legally described as follows: Lots 2, 3, 4, 5, 16, 17, and 18, Block 2, Motor Line Addition to Renton, according to plat thereof recorded in Volume 9 of Plats, page 50, records of King County, EXCEPT the east 6 feet of said lots 16, 17, and 18 heretofore conveyed to the city of Renton by deed recorded under auditor's file no. 910200, records of said county for street purposes, TOGETHER with all of Bodcaw Co.'s rights in and to that certain use permit granted Bodcaw Co. by the city of Seattle Water Department as per Ordinance #78034. ASSIGNMENT OF LEASE AGREEMENT - 1 '�✓ err" Description of the ROW: That portion of the city of Seattle's Cedar River pipeline right-of-way lying north of Third Street South, and lying between Burnett Avenue South and a line 130 feet west thereof, in the city of Renton. For and in consideration of the above assignment, Assignee hereby assumes and agrees to abide by all of the terms and conditions of the lease agreements as required of the Lessor, and to be bound by all covenants, conditions, terms, stipulations and agreements in said lease agreements binding upon said Lessor. This assignment is effective May 1, 1997. DATED: May 1, 1997. ASSIGNEE: ASSIGNOR: THE CITY OF RENTON By Mayr Jesse Tanner J hn P. Lycette, Jr. ATTEST: Beverly R. L cette UNIVERSITY ENTERPRISES, INC. BRENDA FRITSVOLD, Deputy City Clerk a Washington corporation B ohn K. Blume, President ASSIGNMENT OF LEASE AGREEMENT - 2 ASSIGNMENT OF LEASE AGREEMENT FOR VALUE RECEIVED, JOHN P. LYCETTE, JR. and BEVERLY R. LYCETTE, husband and wife, and UNIVERSITY ENTERPRISES, INC., a Washington Corporation, ("Assignor") hereby assigns to CITY OF RENTON, a Washington municipal corporation, ("Assignee"), all right, title and interest owned and held by Assignor in the Lease with Isabell Adams and Janet Duke, as Lessor, and Wesley E. Loberg and Nick G. Carras, as Lessee, dated September 27, 1972, as it has been subsequently modified, assigned, and renewed. The Lessor's interest in this Lease is now held by Elizabeth Picini, and the Lessee's interest in this Lease is now held by John P. Lycette, Jr. and Beverly R. Lycette, and University Enterprises, Inc. Assignor warrants that to the best of their knowledge all lease agreements are in full force and effect and that no rents have been prepaid. The lease covers that certain premises situated in the County of King, State of Washington legally described as follows: Lot 7, Block 2, Motor Line Addition to Renton according to Plat recorded in Volume 9 of Plats, Page 50, Records of King County Recorder, commonly known as 208 Logan Avenue South, Renton, Washington. ASSIGNMENT OF LEASE AGREEMENT - 1 For and in consideration of the above assignment, Assignee hereby assumes and agrees to abide by all of the terms and conditions of the lease agreement as required of the Lessee, and to be bound by all covenants, conditions, terms, stipulations and agreements in said lease agreement binding upon said Lessee. This assignment is effective May 1, 1997. DATED: May 1, 1997. ASSIGNEE: ASSIGNOR: THE CITY OF RENTON By May Jesse Tanner q n P. Lycette, Jr. A"ATTEST: ," /" ?- Beverly R. Lycette &Lvo& UNIVERSITY ENTERPRISES, INC. BRENDA FRITSVOLD, Deputy City Clerk a Washington corporation By f% ohn K. Blume, President ASSIGNMENT OF LEASE AGREEMENT - 2 ASSIGNMENT OF LEASE AGREEMENT FOR VALUE RECEIVED, JOHN P. LYCETTE, JR. and BEVERLY R. LYCETTE, husband and wife, and UNIVERSITY ENTERPRISES, INC., a Washington Corporation, ("Assignor") hereby assigns to CITY OF RENTON, a Washington municipal corporation, ("Assignee"), all right, title and interest owned and held by Assignor in the Lease with Clara Adams, as Lessor, and Wesley E. Loberg and Nick G. Carras, as Lessee, dated September 28, 1972, as it has been subsequently modified, assigned, and renewed. The Lessor's interest in this Lease is now held by John W. Adams and Emily J. Adams, and the Lessee's interest in this Lease is now held by John P. Lycette, Jr. and Beverly R. Lycette, and University Enterprises, Inc. Assignor warrants that to the best of their knowledge all lease agreements are in full force and effect and that no rents have been prepaid. The lease covers that certain premises situated in the County of King, State of Washington legally described as follows: Lot 6, Block 2, Motor Line Addition to Renton according to Plat recorded in Volume 9 of Plats, Page 50, Records of King County Recorder, commonly known as 212 Logan Avenue South, Renton, Washington. ASSIGNMENT OF LEASE AGREEMENT - 1 For and in consideration of the above assignment, Assignee hereby assumes and agrees to abide by all of the terms and conditions of the lease agreement as required of the Lessee, and to be bound by all covenants, conditions, terms, stipulations and agreements in said lease agreement binding upon said Lessee. This assignment is effective May 1, 1997. DATED: May 1, 1997. ASSIGNEE: ASSIGNOR: THE CITY OF RENTON 7 By .- $hn May Jesse Tanner Lycette, Jr. ATTEST: {� Beverly R. Lycette UNIVERSITY ENTERPRISES, INC. BRENDA FRITSVOLD, Deputy City Clerk a Washington corporation ohn K. Blume, President ASSIGNMENT OF LEASE AGREEMENT - 2 'low Nwe ASSIGNMENT OF PERMIT AGREEMENT FOR VALUE RECEIVED, JOHN P. LYCETTE, JR. and BEVERLY R. LYCETTE, husband and wife, and UNIVERSITY ENTERPRISES, INC., a Washington Corporation, ("Assignor") hereby assigns to CITY OF RENTON, a Washington municipal corporation, ("Assignee"), all right, title and interest owned and held by Assignor in the City of Seattle Water Department Permit Agreement (Permit Agreement R66-002, Parcel L) with the effective date of November 1, 1978, between the City of Seattle and John P. Lycette, Jr. and Beverly R. Lycette, and University Enterprises, Inc. Assignor warrants that to the best of their knowledge all rental payments currently due under this permit have been paid, however, Assignor does not warrant permit may be transferred or assigned by this assignment but Assignor transfers any and all interest in said permit it may assign. The permit covers that certain premises situated in the County of King, State of Washington legally described as follows: That portion of the City of Seattle's 66 foot wide cedar River Pipeline right of way situated in the City of Renton and adjacent to Lots 2 and 18, Block 2, Motor Line Addition to Renton, lying north of South Third Street, and lying between the west margin of Burnett Avenue South and a line 124.12 feet west of and parallel with said west margin, and That portion of said pipeline right of way lying north of the following described line: Beginning at a point ont he east margin of Logan Avenue South which point is 15 feet south of the north margin of said pipeline right of way; thence 43.16 feet east along a line perpendicular to said east margin to a point on a line which is 1 foot southerly of ASSIGNMENT OF LEASE AGREEMENT - 1 +Wrr' and parallel with said north margin; thence easterly along said parallel line 66.07 feet to a point of termination on a line 124.12 feet west of an parallel with the west margin of Burnett Avenue South, Both portions containing a total area of 7,221 square feet, more or less. For and in consideration of the above assignment, Assignee hereby assumes and agrees to abide by all of the terms and conditions of the Permit Agreement as required of the Permittee, and to be bound by all covenants, conditions, terms, stipulations and agreements in said Permit Agreement binding upon said Lessee. This assignment is effective May 1, 1997. DATED: May 1, 1997. ASSIGNEE: ASSIGNOR: THE CITY OF RENTON i� By May Jesse Tanner ohn P. Lycette, Jr. ATTEST: le4cc '�e, Beverly R. Lycette hWk1-a1& UNIVERSITY ENTERPRISES, INC. BRENDA FRITSVOLD, Deputy City Clerk a Washington corporation BY= 1 ohn K. Blume, President ASSIGNMENT OF LEASE AGREEMENT - 2 -IUNIVERSIT ENTERPRISES, INC. ' .ibh.i\.E. WIN 1)ERILERE RU. SEATTLK.AASHINGTI)\98105122' 61523-[351 February 18 , 1997 Lawrence J. Warren Office of the City Attorney City of Renton 100 S , 2nd Street Renton, WA 98057 Dear Mr. Warren: John P. Lycette, Jr. and I wish to formally acknowledge receipt of the NOTICE OF EXERCISE OF OPTION by the City of Renton for our properties occupied by Sound Mazda . With the exercise of the Option to Purchase by the City, we the Optioners, are relieved of all obligations under provision 2 . 5, including sub-paragraph (d) . Even though it appears that the current tenant will not vacate the property until summer, we are willing to close the transaction effective May 1 , 1997 with the rent to be paid to us through April 30, 1997 and the City accepting assignment of all the leases on the property, plus the Adams and Picini leases . I have previously delivered to you the following leases : City of Seattle, Water Dept. Permit Agreement; Bodcaw Lease and related documents including the most recent Renewal; Adams Property Lease and lease renewals . As part of-closing, you as closing agent stated you would get the preliminary title commitments . You should order it when you deem appropriate. At closing we will assign all leases on the properties to the City of Renton, with the City to take all the benefits and burdens of all the leases . You should note the renewal provisions of all leases except the City of Seattle, The assignment of the Sound Mazda lease to the City of Renton enable the City to negotiate with the tenant the City's requested $35, 000. 00 removal and clean-up costs . We are pleased that the City of Renton is moving ahead with the purchase of our property and are hopeful that the planned property development will enhance the redevelopment of downtown Renton. Sincerely, �ohnume President c: CITU 6F %&TON �A Office of the City Attorney Jesse Tanner,Mayor Lawrence J.Warren CERTIFIED MAIL RETURN RECEIPT REQUESTED February 5, 1997 John P. Lycette, Jr. and Beverly R. Lycette 3300 Wailea Alanui Drive, Ekahi #34D Kihei, Maui, Hawaii 96753 Re: Notice of Exercise of Option Dear Mr. and Mrs. Lycette: I am enclosing the City's Notice of Exercise of Option for the Renton Mazda properties. You will notice that there are two issues addressed in the exercise of option outside of the straight notice of exercise of the option. The first is the right to receive rent. The agreement states that you would retain the right to the rent until May 1, 1997, or such other date as agreed to between the parties. For ease of handling I have specified the right to receive lease payments shall be prorated as of the date of closing. Of course, the date of closing is somewhat flexible. I would be interested in your comments about the desired date of closing. The second issue addressed is the removal of potentially hazardous chemicals from the premises, all related to the hydraulic cylinders, reservoirs, plumbing, controls, waste materials, liquid sediment and sludge associated with the auto servicing on the premises. It may be that your lease with your tenant provides for such removal. If so, the City may be willing to waive this condition. The way I have structured it is to have a set aside that would cover the cost, as estimated by our consultant, so that there would be no delay in closing this transaction. If the tenant takes care of these concerns, then the $35,000.00 set aside would be released to you. If the terms of the lease are sufficiently direct about the need to remove these items of concern, and the lessee will acknowledge that obligation, then the City will consider release of those monies at the time that we receive adequate assurances. Post Office Box 626 - 100 S. 2nd Street- Renton, Washington 98057 - (206)255-8678 ®This paper contains 50%recycled material,20%post consumer John P. Lycette, Jr. and Beverly R. Lycette February 5, 1997 Page 2 We should try to structure this exercise of option in order to make it unconditional and so that it can close as soon as you wish. Because of scheduling I have not been able to discuss these issues with you directly. If you have any questions I invite your calls. Very truly yours, Lawrence J. Warren LJW:as. cc: Jay Covington Sue Carlson v,Marilyn J. Peterson A8.129.73. �: - `01 CITOF RENTON "LL Office of the City Attorney Jesse Tanner,Mayor Lawrence J.Warren CERTIFIED MAIL RETURN RECEIPT REQUESTED February 5, 1997 Mr. John K. Blume University Enterprises, Inc. 5665 N.E. Windermere Road Seattle, Washington 98105-2857 Re: Notice of Exercise of Option Dear Mr.. Blume: I am enclosing the City's Notice of Exercise of Option for the Renton Mazda properties. You will notice that there are two issues addressed in the exercise of option outside of the straight notice of exercise of the option. The first is the right to receive rent. The agreement states that you would retain the right to the rent until May 1, 1997, or such other date as agreed to between the parties. For ease of handling I have specified the right to receive lease payments shall be prorated as of the date of closing. Of course, the date of closing is somewhat flexible. I would be interested in your comments about the desired date of closing. The second issue addressed is the removal of potentially hazardous chemicals from the premises, all related to the hydraulic cylinders, reservoirs, plumbing, controls, waste materials, liquid sediment and sludge associated with the auto servicing on the premises. It may be that your lease with your tenant provides for such removal. If so, the City may be willing to waive this condition. The way I have structured it is to have a set aside that would cover the cost, as estimated by our consultant, so that there would be no delay in closing this transaction. If the tenant takes care of these concerns, then the $35,000.00 set aside would be released to you. If the terms of the lease are sufficiently direct about the need to remove these items of concern, and the lessee will acknowledge that obligation, then the City will consider release of those monies at the time that we receive adequate assurances. Post Office Box 626 - 100 S. 2nd Street - Renton, Washington 98057 - (206)255-8678 8 This paper contains 50%recycled material,20%post consumer Mr. John K. Blume February 5; 1997 Page 2 We should try to structure this exercise of option in order to make it unconditional and so that it can close as soon as you wish. Because of scheduling I have not been able to discuss these issues with you directly. If you have any questions I invite your calls. Very truly yours, Lawrence J. arren LJW:as. cc: Jay Covington Sue Carlson Marilyn J. Peterson A8.129.73. NOTICE OF EXERCISE OF OPTION Pursuant to paragraph 2.1 of that certain Option to Purchase dated October 31, 1996, by and between the City of Renton, a municipal corporation as Optionee, and John P. Lycette, Jr. and University Enterprises, Inc. as Optioner, the City of Renton does now exercise its option to purchase the subject property pursuant to the terms and conditions of the Option to Purchase. The right to receive lease payments on the property shall be prorated as of the date of closing. The Optioner shall take the following steps or ensure that the lessee takes the following steps: 1. The hydraulic oil shall be removed from the hydraulic lift cylinders, reservoirs, plumbing and controls of the below-grade active and inactive lifts and properly disposed of or recycled. i { 2. The subgrade hydraulic cylinders, reservoirs, plumbing and controls shall be removed. 3. All waste materials in the concrete vaults of the inactive lifts shall be removed and the vaults shall be steam cleaned. 4. Liquid sediments and sludge shall be removed from the sump, trench drain, floor drain, of /water separator, and connected plumbing, and these units shall be -subsequently steam cleaned. NOTICE OF EXERCISE OF OPTION - Page 1 If Optioner cannot perform the actions listed in steps 1 through 4 above, prior to closing, then the exercise of this option is conditioned upon Optioner creating a set aside account out of closing in the amount of $35,000.00 to ensure that steps 1 through 4 are completed to the satisfaction of Optionee or, if not so done, shall serve as a fund to be drawn upon to accomplish steps 1 through 4 above. OPTIONEE CITY OF RENTON By: Jesse Tanner, Mayor ATTEST: i By. MarilJLVetersen, City Clerk CITY14:67:as. s NOTICE OF EXERCISE OF OPTION - Page 2 February 3. 1997 Renton City Council Minutes Page 34 Rezone: 3901 Talbot Rd S An ordinance was read rezoning approximately 1.32 acres located at 3901 (Brain), from P-1 to CO, Talbot Rd. S. (Brain) from P-1 (Public Use) to Commercial Office (CO). R-96-126 MOVED BY KEOLKER-WHEELER, SECONDED BY NELSON, COUNCIL REFER THE ORDINANCE FOR SECOND AND FINAL READING ON 2/10/97. CARRIED. Rezone: 3731 Talbot Rd S An ordinance was read rezoning approximately 1.02 acres located at 3731 (D&R Enterprises), from Talbot Rd. S. (D&R Enterprises) from P-1 (Public Use) to Commercial Office P-1 to CO, R-96-130 (CO). MOVED BY KEOLKER-WHEELER, SECONDED BY NELSON, COUNCIL REFER THE ORDINANCE FOR SECOND AND FINAL READING ON 2/10/97. CARRIED. Rezone: 3711 Talbot Rd S An ordinance was read rezoning approximately 0.91 acres located at 3711 (Frary), from P-1 to CO, Talbot Rd. S. (Frary) from P-1 (Public Use) to Commercial Office (CO). R-96-129 MOVED BY KEOLKER-WHEELER, SECONDED BY SCHLITZER, COUNCIL REFER THE ORDINANCE FOR SECOND AND FINAL READING ON 2/10/97. CARRIED. Rezone: 400 S 38th Ct An ordinance was read rezoning approximately 0.52 acres located at 400 S. (O'Brien), from P-1 to 38th Ct. (O'Brien) from P-1 (Public Use) to Commercial Office (CO). CO, R-96-127 MOVED BY KEOLKER-WHEELER, SECONDED BY NELSON, COUNCIL REFER THE ORDINANCE FOR SECOND AND FINAL READING ON 2/10/97. CARRIED. Rezone: 403 S 38th Ct An ordinance was read rezoning approximately 5.62 acres located at 403 S (Springbrook Associates), 38th Ct. (Springbrook Associates) from P-1 (Public Use) to Commercial Office from P-1 to CO, R-96- (CO). MOVED BY KEOLKER-WHEELER, SECONDED BY SCHLITZER,. 128 COUNCIL REFER THE ORDINANCE FOR SECOND AND FINAL READING ON 2/10/97. CARRIED. NEW BUSINESS Council President Keolker-Wheeler announced that at the Executive Session Council: Sound Mazda held on January 27th, Council asked the Administration to prepare a Notice of (Lvicette/Blume) Property Exercise of Option for the Lycette/Blume property in downtown Renton. The Purchase, Burnett & property, currently occupied by Sound Mazda, is located between Burnett and _Logan and S 2nd & 3rd Logan, adjacent to the Downtown Transit Center. The property will be combined with parcels the City already owns for development of a downtown plaza or town square. The City Attorney has prepared the Notice of Option to Purchase. The purchase price of the property is $1 million, of which $400,000 was authorized by Council for this purpose in the 1997 budget. The balance of the purchase price will be funded from the 1996 year-end carryover. MOVED BY KEOLKER-WHEELER, SECONDED BY PARKER, COUNCIL AUTHORIZE THE MAYOR TO SIGN THE OPTION AND ALLOCATE SUFFICIENT FUNDS FROM THE 1996 YEAR-END CARRYOVER TO PURCHASE THE LYCETTE/BLUME (SOUND MAZDA) PROPERTY. CARRIED. Parks: Cedar River Councilman Schlitzer relayed comments received from the Senior Citizen's Walkway Flooding, Access Advisory Board on the difficulty experienced in crossing Logan Ave. S. when Across Logan Ave the Cedar River walkway is inaccessible due to flooding. Many seniors have expressed a desire for a pedestrian-safe alternative to crossing Logan. Mayor Tanner agreed to look into this matter. `c: CITY OF RENTON "LL Renton City Council Jesse Tanner, Mayor Item for KKW at City Council Meeting Under New Business At the Executive Session of the City Council on January 29, 1997, the Council asked the Administration to prepare a Notice of Exercise of Option for the Lycette/Blume property in downtown Renton. The property, which currently is occupied by Sound Mazda, is located between Burnett and Logan, adjacent to the Downtown Transit Center. This property will be combined with property the City already owns for development of a downtown plaza or town square. The City Attorney has prepared the Notice of Option to Purchase. The purchase price of the property is ONE MILLION DOLLARS. The Council authorized $400,000 for this purchase in the 1997 budget. The balance of the purchase price will be funded from the 1996 year-end carry over. I move that the Council authorize the Mayor to sign the option and allocate sufficient funds .from the 1996 year-end carry over to purchase the property. 200 Mill Avenue South - Renton, Washington 98055 - (206)235-2586 ®This paper contains 50%recycled material,25%post consumer - _ 1%W CITOF RENTON Office of the City Attorney Jesse Tanner,Mayor Lawrence J.Warren MEMORANDUM CITY OF RENTOM To: Mayor Jesse Tanner JAN 3 From: Lawrence J. Warren, City Attorney o 199 Date: January 29, 1997 CITY RECC E CEDS OFFICE Subject: Lycette-Blume Property I am enclosing the original Notice of Exercise of Option on the Lycette-Blume property. This notice has been prepared pursuant to our consultation of Wednesday, January 29, 1997. Once the City Council has adopted the Committee of the Whole Report authorizing the expenditure of sufficient funds to support this Notice of Exercise of Option, which should occur at the Council meeting of February 3, 1997, please sign the original of this document, have the City Clerk attest your signature and then have my office contacted. We will pick up the document and forward it by Certified Mail, Return Receipt Requested, to Mr. Lycette in Hawaii. This is per the agreement of the parties. If you have any questions please let me know. Lawrence J. Warren LJW:as. cc: Marilyn J. Petersen, City Clerk A8:129.56. Post Office Box 626 - 100 S. 2nd Street- Renton, Washington 98057 - (206)255-8678 ®This paper contains 50%recycled material,20%post consumer NOTICE OF EXERCISE OF OPTION Pursuant to paragraph 2.1 of that certain Option to Purchase dated October 31, 1996, by and between the City of Renton, a municipal corporation as Optionee, and John P. Lycette, Jr. and University Enterprises, Inc. as Optioner, the City of Renton does now exercise its option to purchase the subject property pursuant to the terms and conditions of the Option to Purchase. The right to receive lease payments on the property shall be prorated as of the date of closing. The Optioner shall take the following steps or ensure that the lessee takes the following steps: 1. The hydraulic oil shall be removed from the hydraulic lift cylinders, reservoirs, plumbing and controls of the below-grade active and inactive lifts and properly disposed of or recycled. 2. The subgrade hydraulic cylinders, reservoirs, plumbing and controls shall be removed. 3. All waste materials in the concrete vaults of the inactive lifts shall be removed and the vaults shall be steam cleaned. 4. Liquid sediments and sludge shall be removed from the sump, trench drain, floor drain, oil/water separator, and connected plumbing, and these units shall be subsequently steam cleaned. NOTICE OF EXERCISE OF OPTION - Page 1 If Optioner cannot perform the actions listed in steps 1 through 4 above, prior to closing, then the exercise of this option is conditioned upon Optioner creating a set aside account out of closing in the amount of $35,000.00 to ensure that steps 1 through 4 are completed to the satisfaction of Optionee or, if not so done, shall serve as a fund to be drawn upon to accomplish steps 1 through 4 above. OPTIONEE CITY OF RENTON By: Jesse Tanner, Mayor ATTEST: X. By: MarilJLVetersen, City Clerk CITY14:67:as. NOTICE OF EXERCISE OF OPTION - Page 2 OCT-7)1-1996 15:0- LJHF'PD6 k,ELLOGG ET HL lose F.;717,FjC QP'I'IQN TQ 1'CTR.fHASE This agreement is made between the City of Renton, a municipal. corporation (Optionee) , and John P. Lycette, Jr. . and University Enterprises, Inc . (Optioner) . 1 . THREAT E' CONDEMNATION, This agreement is entered into under threat by the City of Renton to use its eminent domain powers to acquire the premises legally described on Exhibit A for public purposes . Exhibit A includes property held in fee by Optioner, property leased from the City of Seattle Water Department and two lots leased from private individuals (the Adams' leases) . If Optionee exercises this option, Optionee will confirm the exercise by City Council action and recite in the action that Optionee is taking the premises under threat of condemnation . 2 . Q_PTION TQ _PURCHASE, The Optioner grants unto the Optionee an option to purchase the premises herein under the following terms and conditions : 2 . 1 Exercise : This option may be exercised b,,,, the City of Renton at any time before February 7, 1997 , or ninety 90) days after the date of this option, whichever is later . iv'cj. -ice of r L:ercive shall be in writing and be delivered to Optioner by personal sPrvic'e, with written receipt therefor, or by certified mail , ret,Frn receipt requested, addressed to Opt.ion,er' s address . 2 . 2 Pu_xchase_Price: The purchase pr.;_ce -c al ! h-,e paid all. caF;ft at closing. The purchase price shall be One Million Dul_lars ($1, 000 , 000 . 00) net of closing costs, escrow fees, ti.tle insurance and other expenses of conveyance, escrow and closing . 2 . 3 Title_ Title to the premises shall be fzee of encurnbranros or defects except restrictions and reservations of rarord . R iQh- S reserved in Federal Patents or State Deeds, building or use restrictions general to the district , existing easements .sot inconsistent with the intended use of the restricted parcels, and building or zoning regulations or provisions shall not be deemed encumbrances or defects . Optioner agrees to furnish and deliver to OPTION TO PURCHASE - 1 OCT—?1-199b- 15:0-5 dqRRENI kELLOGG ET HL F.I^4 03 Optionee, at Optionee ' s expense, an extended form of policy of title insurance issued by Transamerica Title Insurance Company, and a preliminary commitment therefor, issued by Transamerica Title Insurance Company. The parties authorize the closing agent to apply for such title insurance upon the removal of all contingencies to this transaction. Optionee agrees to assume any cancellation fee for the respective commitments or policies . The title policy to be issued shall contain no exceptions other than those provided in the extended form plus the encumbrances or defects noted in this paragraph. If title is not so insurable as above provided and cannot be made so insurable by the termination date set forth herein, this Agreement shall be terminated. If the premises are subject to an existing contract, mortgage, deed of trust or other encumbrance which Optioner is to continue to pay, Optioner agrees to pay that contract , mortgage, deed of trust or other encumbrance in full at closing . The Title Commitment and any Title Update with exceptions shall be furnished to Optionee within ten (10) days of Optionee ' s exercise of this option. Optionee shall have thirty (30) days after the receipt of the Title Commitment and Title Update, and copies of all exceptions shown therein, within which to notify Optioner of Optionee ' s disapproval of any exceptions shown in the Tit--Ite Update ( "Title Notice" ) . In the event Optioner is unable or elects not to eliminate any such disapproved exception; , Optioner shall notify Optionee in writing within ten (10) days of Optioner' s recc,-Ipt of the Title Notice. Thereupon, Optionee may, within t-en (10) days of receipt of said notice from Optioner, ei-ect -.-o waive Optionee' s objection to any disapproved exceptions, or in the a-Iternat--iVC-. , Optionee may elect not to waive the exception and may elect- to rescind the exercise of the option to purchase , it Optionee fails to disapprove any exceptions within the thirty (30) day period, t-he exception(s) shall be deemed to have been approved by Opt_iore-e , if after Optioner advises Optionee that Optioner is unable to or elects not to eliminate any exception and Optionee does not elect to waive the except--ion within the ten (10) day period, this option may, at-- Optioner' s election, be terminated. Irrespective of any time limits herein, any disputes with respect to title must be resolved no later OPTION TO PURC�i SE - 2 1jCT-.31-199G 15:06 VMV, (.11HRREH, k'ELLOGG ET AL `"'� F.0�/09 than the date of expiration of the ninety (90) days from the exercise of the option, otherwise this Agreement shall terminate . 2 . 4 Re resen ions and Warranties Ofthe 0 tioner: Optioner represents and warrants to Optionee that to the best of Optioner' s knowledge no civil or criminal litigation, notice of violation or administrative proceeding has been brought under the Environmental Laws (including notices, demand letters or claims) which involves the Property or any release or threatened release of Hazardous Substances thereon . 2 . 5 ontingencies : The obligation of the Optionee under this; Agreement is contingent upon the occurrence of the following : (a) Receipt of an approval of such studies a, :3/ox. environmental assessments or audits as may be deemed nec;�?ssary 1by !:ne Optionee, and at the expense of the Optionee, to determine the presence of any hazardous substance (as defined by RI-W 70 . 105D. 020 (6) ) , or the release thereof which has resulted in or contributed to the need for remedial action under RCW Chapter 70 . 105D. As a part of this environmental assessment, commonly known as a Level zz assessment, the Optionee shall have aut.hori„ty to enter upon the property to inspect it, and to interview such parties: as may be deemed appropriate by Optionee, including present and prior employees of the Optioner, regarding the prion use of the premises , Optionee has previously conducted a Level I assessment _ Optionee shall make a copy of any report or environmental assessments of property available to the Optioner immediately. The Optionee shall indemnify and hold harmless Optioner from any damage to the premises caused by its inspections, studies, or environmental assessments . Optioner is required to obtain the permission of the present Lessee to go upon the property. By exercising the option however, this contingency is removed (b) Approval by the City Council. of the City of Renton by appropriate Council action of the closing of this transaction . By exercising the option herein, this contingency is removed. (c) Availability of budgeted funding from the Optionee sufficient to close this transaction . By exercising the option herein, this contingency is removed. OPTION TO PURCHASE - 3 iiCT-7-11-1'996 16:.' I,JNFD I v ICELL IGG ET HL Iftole F. 1/06 (d) Receipt of air estimate of cleanup costs under the Level Il assessment for $100, 000 . 00 or less inclusive of ail costs!, . By exercising the option this contingency is removed . If the cleanup costs are over $100, 000 this option is null and void and cannot be exercised. 2 . 6 Option Cpnsider.ation: The consideration for this option. :ia the payment by the City of Renton for the Level I1 assessment . Optioner will be given a copy of the Level II assessment . 2 . 7 Conveyance : Transfer of Optioner' s interest in the premises shall be by Statutory Warranty Deed , 2 . 8 Closin . This pux•chase shall be closed in the office of warren, Kellogg, .Barber, Dean & Fontes , P. S . , Attorneys at Law. The parties will deposit in escrow with the closing agent all instruments and moneys necessary to complete this purchase in accordance with this Agreement . Closing will be on or before March 2 , 1997 , unless both parties agree otherwise. Optioner retains the right to recei•,re the benefits of the present leases on the property through the date, Sound Mazda moves, estimated to be May 1, 1997 or such other date as the parties may agree upon. However, irrespective of any provision regarding closing, closing will not occur until Optioner can deliver possession free of Elizabeth Picini and John W. Adam,-- ' 1case obligations . This contingency can be removed if. the City of ?enton. will assume the benefits and burdens of the leases and hold Or,tioner harmless for any lease obligations . Optioner wila assign to Optionee its lease obligations and rights to the Seattle City Water. DkmpartrnFnt and S & K Motors, Inc . d/b/a Sound Mazda to Optionee . Copies of the leases will be provided to Optionee upon request . 2 . 9 Possession: Optioner shall deliver possession: to Optionee. on date of closing. 2 . 10 Condition of Propf,_L�y: Optionee and its representatives, prior to the closing date, will have been afforded the opportunity to make such inspections of the premises and matters related thereto as Optionee and its representatives desire . Optionee acknowledges and agrees that the premises are to be sold and conveyed to and accepted by Optioaee in an "AS IS, WHERE IS" condition, WITH ALL FAULTS AIT DEFECTS . Except as specifically provided in section 2 . 4 , Optioner OP'T'ION TO PURCHASE - 4 i 1-1996 1r WHRRIEH, !<ELLrGG ET HL P.C-141/0r makes no representations or warranties of any kind whatsoe­,,er, either express or implied, with respect to the premises . Optionee acknowledges that it is entering into this agreement on the basis of. Optionee' s own investigation of the physical and environmental conditions of the premises, including the subsurface conditions, and optionee assumes the risk that adverse physical and environmentai conditions may not have been revealed by its investigation. Notwithstanding the foregoing, nothing in this section implies an obligation that optionee indemnify Optioner against claims or a liability for response costs to federal or state agencies to the extent Optioner is otherwise liable under applicable 'law for such response costs . optionee acknowledges that notwithstanding any prior or contemporaneous oral or written representations, statements, documents or understandings, this agreement constitutes the entire understanding of the parties with respect to the subject matter_ hereof and the purchase and sale of the premises, and supersedes any such prior or contemporaneous oral or written representations, statement, documents or understandings . 2 . 11 Default : If either party defaults in his contractual performance herein, the non-defaulting party may seek specific performance pursuant to the terms of this Agreement, damages, cx rescission. The non-defaulting party shall be entitled to ri3cover its costs and attorney' s fees in the event counsel is retained as a result of such default . The option consideration raid t--.o, Optw ^ner shall be retained by Optioner in any event . 2 . 12 Arrozzey' s Nees_ If either party named herein bz'inyz, an action to enforce the terms hereof or declare rights hereunder. , the pre,Iaiiing party in any such action, on trial, or appeal , shall be entitled to h-41- reasonable icreasonable attorney' s fees to be paid by the losing party as fixed by the court . 3 . CORPORATE AUTHORITY._ if Optioner is a corporation, each indi -idual executing this Option on behalf of said corporation represents and c,,arrants that he is duly authorized to execute and deliver this Option on behalf of said corporation in accordance with a duly adopted OPTION TO PURCHASE - 5 16:7-E:)' *4W WARRElly 1::;ELLOGG ET HL *4W P.cff"/06 resolution of the Board of Director's of said corporation or in accordance with the Bylaws of said corporation, and that this Option is binding upon said Corporation in aCCordance, with its terms . Dated. 1996 . OPTIONEE OPTIONER THE CITY OF RENTON By f ies�K Tanner, Mayor hn F . Lycette, ATTEST: Beverly R . Lycette Marilyn J. Petersen, City Clerk UNIVERSITY ENTERPRISES, INS'_ n�i h K.�- Blume, President STATE OF WASHINGTON ss COUNTY OF KING I certify that I know or have satisfactory evidence that John P . Lycette, Jr. is the person who appeared before me , and who s.xLgned this instrument and acknowledged it to be his free and voluntary act for the uses and purposes mentioned in the instrument _ DATED- 3f 1996 . rp S op 00 J .0 cP brj o -ary Public in and fu Lh"tat LE3 - .00 Washington, residing - t otary: JEAN ANDERS6N OP WA My appointment expires : OPTION TO PURCHASE 6 I,.IARRDli {'ELLOGG ET H STATE OF WASHINGTON ) ) ss COUNTY OF KING I certify that I know or have satisfactory evidence that Beverly R. Lycette is the person who appeared before me, and who 51gned this instrument and acknowledged it to be her free and voluntary act lor the uses and purposes mentioned in the instrument . DATED. A'k �' 0 1996 , ;,2q V �O ar� PubIi i in ny or re UI, o -ary Publi in and dor Lh Stat o Washington,.n, residing ta ry VVA o otary: ------- My appointment expires : STATE OF WASHINGTON ) Ss COUNTY OF KING I certify that I know or have satisfactory evidence that John K. Blume is the person who appeared before me, and who signed this instrument- , on oath stated that he was authorized to execute the instrument and acknowledged it as the President of University Enterprises, Inc . to be the free and voluntary act of such party foT, the uses and purposes mentioned in the instrument . Dated: 1996 . _y ANI)e V 0 Notary Pu is in and for th-,--- Stagy J* of Washington, residing at -7 -15 00. INotary op 10 01 �j Xelf , My CITY14 . 61 . a"', OPTION TO PURCHASE 7 C EXHIBIT "A" The land referred to is situated in the County of King, State of Washington, and described as follows: PARCEL A: Lots 4 and 5, Block 2, Motor Line Addition to Renton, according to the plat thereof recorded in Volume 9 of Plats, page 50, in King County, Washington; PARCEL B: Lots 2, 3, 16, 17 and 18, Block 2, Motor Line Addition to Renton, according to the plat thereof recorded in Volume 9 of Plats, page 50, in King County, Washington; EXCEPT the east 6 feet of Lots 16, 17 and 18 conveyed to the City of Renton by deed filed under King County Recording Number 910200 for street purposes. SEATTLE CEDAR RIVER PIPE LINE LEASE PROPERTY: That portion of the Cedar River Pipe Line Right-of-Way, in the northeast quarter of the southeast quarter, Section 18, Township 23 North, Range 5 East, W.M. in King County, Washington, in the H. H. Tobin Donation Land Claim #37, running from the easterly Right-of-Way margin of Logan Avenue South, southeasterly to the westerly Right-of-Way margin of Burnett Avenue South; EXCEPT that portion thereof lying within the Right-of-Way of South Third Street. cAfarms\optn_1g1.doctgb 11/8/96 CITY OF RENTON MEMORANDUM DATE: November 7, 1996 TO: Lawrence J. Warren, City Attorney FROM: Marilyn Petersen, City Cler SUBJECT: Option to Purchase I received the letter and two originals of the purchase option from Anne (Subject: Option to Purchase) for property owned by Beverly and John Lycette. The agreements have been executed by the Mayor and I; however, Exhibit A is not attached. Please provide Exhibit A. Also, it would be helpful in the future if you could identify the general location of the site on the agreement and/or the cover letter; or in this case, identifying the Sound Mazda site on Burnett Avenue S. would have been useful. Thank you for providing the legal description. You may not be the project manager. If not, please let me know who to contact. �r October 21. 1996 Renton City Council Minutes Page 396 Citizen Comment: Jones - Richard Jones, PO Box 734, Renton, 98057, stated that he was also a member Renton Chiefs Minor of the Chiefs football team. He explained that he plays football for the love League Football Team of the sport and for the team camaraderie. Stating that he likes playing at Renton Memorial Stadium, Mr. Jones said that he hoped the team could continue playing there. Mayor Tanner pointed out that although the school board is in charge of the stadium, Council will urge them to continue allowing the Chiefs to play there. MOVED BY PARKER, SECONDED BY SCHLITZER, MR. EISELSTEIN'S LETTER BE REFERRED TO THE COMMUNITY SERVICES COMMITTEE FOR CONSIDERATION. CARRIED. CONSENT AGENDA Items on the consent agenda are accepted by one motion which follows the listing. Development Services: Development Services Division submitted proposed contract in an amount not Port Quendall (Lake Wash to exceed $351,355 with Huckell/Weinman Associates, Inc., to prepare an Blvd) EIS, Environmental Impact Statement for the Port Quendall Planned Action; 25% Huckell/Weinman advance payment by Paul Allen Group, and balance reimbursed later if Associates, CAG-96- development proceeds. Refer to Finance Committee. Personnel: Firefighter Human Resources Division recommended approval to enter into an interlocal Eligibility List, SeaTac & agreement with the Cities of Renton, SeaTac, and King County Fire District King County Fire District, #40 to recruit and establish a joint eligibility list for the position of CAG-96- firefighter. Refer to Public Safety Committee. Police: Licensing of School Police Department recommended adoption of a proposed ordinance amending Dances Section 5-13-3.A of the City's Finance and Business Regulations Code exempting the licensing of dances by public/private schools if conducted on school property. Refer to Public Safety Committee. MOVED BY NELSON, SECONDED BY SCHLITZER, COUNCIL APPROVE THE CONSENT AGENDA AS PRESENTED. CARRIED. OLD BUSINESS Council President Nelson presented a Committee of the Whole report Committee of the Whole regarding the purchase option for downtown Renton property on Burnett Ave. Planning: Sound Mazda S. for development of a plaza. Property Acquisition, Burnett Ave S (Lycette) The Renton City Council authorized the administration to enter into a second option with Jack Lycette and University Enterprises, Inc. to purchase property located between S. 2nd and S. 3rd Street on Burnett Ave. S. currently occupied by the Sound Mazda automobile dealership. The first option to purchase the subject property was authorized in May, 1995, and expired in June, 1996. The Council also authorized the administration to perform a level II environmental assessment on this property. Cost of the assessment is estimated to be $20,195 and will be paid out of the Real Estate Excise Tax Fund (REST). The purchase option is contingent upon the results of the environmental assessment. MOVED BY NELSON, SECONDED BY KEOLKER-WHEELER, COUNCIL CONCUR IN THE COMMITTEE REPORT. CARRIED. Planning & Development Planning and Development Committee Chair Keolker-Wheeler presented a Committee report regarding the May Valley Prezone - Phase I. The Planning and Planning: Miller/May Development Committee has reviewed the administration's recommendation Valley Annexation for assignment of R-5 zoning on the south portion of the prezone area and R- Prezoning 1 on the north portion. After consideration of late requests by additional APPROVED BY CITY COUNCIL Date_/a Committee of the Whole Committee Report October 21, 1996 Option for downtown Renton property Referred October 14, 1996 The Renton City Council authorizes the administration to enter into a second option with Jack Lycette and University Enterprises, Inc. The Council also authorize the administration to perform a Level 1I Environmental Assessment on this property. Cost of the assessment is estimated to be $20,195 and will be paid out the Real Estate Excise Tax Fund(REET). Toni Nelson, President �f ; ,. CITOF RENTON Office of the City Attorney Jesse Tanner,Mayor Lawrence I Warren MEMORANDUM To: Marilyn J. Petersen, City Clerk From: Anne Santos, Legal Assistant to Lawrence J. Warren, City Attorney Staff Contact: Sue Carlson Date: November 5, 1996 Subject: Option to Purchase I am enclosing two originals of an Option to Purchase Agreement which I need the Mayor to execute. Once the documents have been executed one original should be returned to John P Lycette, Jr. at 1933 Blenheim Drive East, Seattle, Washington 98112. The remaining original should be retained for the City's files (Sue Carlson may wish to have a copy of the executed document as well). Also, please send an executed copy to me for our file. Thanks for your help! Anne Santos LJW:as. Enclosures A8:128.05. Post Office Box 626 - 100 S. 2nd Street - Renton, Washington 98057 - (206)255-8678 ®This paper contains 50%recycled material,20%post consumer OPTION TO PURCHASE This agreement is made between the City of Renton, a municipal corporation (Optionee) , and John P. Lycette, Jr. and, University Enterprises, Inc . (Optioner) . I . THREAT OF CONDEMNATION. This agreement is entered into under threat by the City of Renton to use its eminent domain powers to acquire the premises legally described on Exhibit A for public purposes. 2 . OPTION TO PURCHASE . The Optioner grants unto the Optionee an option to purchase the premises herein under the following terms and conditions : 2 . 1 Exercise: This option may be exercised by the City of Renton at any time before June 1, 1996. Notice of exercise shall be in writing and be delivered to Optioner by personal service, with written receipt therefor, or by certified mail, return receipt requested, addressed to Optioner' s address. 2 .2 Purchase Price: The purchase price shall be paid all cash at closing, The purchase price shall be One Million Dollars ( $1, 000,000 . 00) net of closing costs, escrow fees, title insurance and other expenses of conveyance, escrow and closing. 2 . 3 Title: Title to the premises shall be free of encumbrances or defects except restrictions and reservations of record. Rights reserved in Federal Patents or State Deeds, building or use restrictions general to the district, existing easements not inconsistent with the intended use of the restricted parcels, and building or zoning regulations or provisions shall not be deemed encumbrances or defects . Optioner agrees to furnish and deliver to Optionee, at Optionee' s expense, an extended form of policy of title insurance issued by Transamerica Title Insurance Company, and a preliminary commitment therefor, issued by Transamerica Title Insurance Company. The parties authorize the closing agent to apply for such title insurance upon the removal of all contingencies to this transaction. Optionee agrees to assume any cancellation fee for OPTION TO PURCHASE - 1 nrr the respective commitments or policies. The title policy to be issued shall contain no exceptions other than those provided in the extended form plus the encumbrances or defects noted in this paragraph. If title is not so insurable as above provided and cannot be made so insurable by the termination date set forth herein, this Agreement shall be terminated, if the premises are subject to an existing contract, mortgage, deed of trust or other encumbrance which Optioner is to continue to pay, Optioner agrees to pay that contract, mortgage, deed of trust or other encumbrance in full at closing. The Title Commitment and any Title Update with exceptions shall be furnished to Optionee within ten ( 10 ) days of Optionee ' s exercise of this option. Optionee shall have thirty ( 30) days after the receipt of the Title Commitment and Title Update, and copies of all exceptions shown therein, within which to notify optioner of Optionee ' s disapproval of any exceptions shown in the Title Update ( "Title Notice" ) . In the event Qptioner is unable or elects not to eliminate any such disapproved exceptions, optioner shall notify Optionee in writing within ten ( 10) days of Optioner' s receipt of the Title Notice. Thereupon, Optionee may, within ten ( 10) days of receipt of said notice from Qptioner, elect to waive optionee' s objection to any disapproved exceptions, or in the alternative, optionee may elect not to waive the exception and may elect to rescind the exercise of the option to purchase and have its $1 ,000 .00 deposit refunded. If Optionee fails to disapprove any exceptions within the thirty ( 30) day period, the exception( s ) shall be deemed to have been approved by Optionee. If after optioner advises Optionee that optioner is unable to or elects not to eliminate any exception and Optionee does not elect to waive the exception within the ten ( 10) day period, this option may, at Optioner ' s election, be terminated and Optionee shall be promptly refunded its $1, 000. 00 . Irrespective of any time limits herein, any disputes with respect to title must be resolved no later than the date of expiration of the ninety ( 90) days from the exercise of the option, otherwise this OPTION TO PURCHASE - 2 Agreement shall terminate and Optionee shall be reimbursed its $1, 000. 00. 2 .4 Representations and Warranties of the Optioner: Optioner represents and warrants to Optionee that to the best of Optioner' s knowledge no civil or criminal litigation, notice of violation or administrative proceeding has been brought under the Environmental Laws (including notices, demand letters or claims) which involves the Property or any release or threatened release of Hazardous Substances thereon. 2 . 5 Contingencies : The obligation of the Optionee under this Agreement is contingent upon the occurrence of the following on or before the date of closing: (a) Receipt of an approval of such studies and/or environmental assessments or audits as may be deemed necessary by the Optionee, and at the expense of the Optionee, to determine the presence of any hazardous substance (as defined by RCW 70 . 105D. 020( 6) ) , or the release thereof which has resulted in or contributed to the need for remedial action under RCW Chapter 70. 105D. As a part of this environmental assessment, the Optionee shall have authority to enter upon the property to inspect it, and to interview such parties as may be deemed appropriate by Optionee, including present and prior employees of the optioner, regarding the prior use of the premises . Optionee shall make a copy of any report or environmental assessments of the property available to the Optioner immediately. The Optionee shall indemnify and hold harmless Optioner from any damage to the premises caused by its inspections, studies, or environmental assessments . Optioner is required to obtain the permission of the present Lessee to go upon the property. By exercising the option however, this contingency is removed. (b) The approval by the City Council of the City of Renton of the closing of this transaction. By exercising the option herein, this contingency is removed. OPTION TO PURCHASE - 3 (c) Availability of budgeted funding from the Optionee sufficient to close this transaction. By exercising the option herein, this contingency is removed. 2 . 6 Option. Consideration: The Optionee shall pay to the Optioner the sum of one Thousand Dollars ($1, 000 . 00) in cash upon execution of this Option Agreement, receipt whereof is acknowledged by Optioner. The One Thousand Dollars ( $1, 000 . 00 ) shall be applied to the purchase price upon exercise of the option. 2 .7 Conveyance: Transfer of Optioner' s interest in the premises shall be by Statutory Warranty Deed. 2 . 8 Closing: This purchase shall be closed in the office of Warren, Kellogg, Barber, Dean & Fontes , F.S . , Attorneys at Law. The parties will deposit in escrow with the closing agent all instruments and moneys necessary to complete this purchase in accordance with this Agreement. Closing will be on January 2, 1998, unless both parties agree otherwise. Optioner retains the right to receive benefits of the present lease on the property through December 31, 1997 . 2 . 9 Possession: Optioner shall deliver possession to Optionee on date of closing. 2 . 10 Condition of Property: Optionee and its representatives, prior to the closing date, will have been afforded the opportunity to make such inspections of the premises and maters related thereto as Optionee and its representatives desire. Optionee acknowledges and agrees that the premises are to be sold and conveyed to and accepted by Optionee in an "AS IS, WHERE IS" condition, WITH ALL FAULTS AND DETECTS. Except as specifically provided in section 2 . 4, Optioner makes no representations or warranties of any kind whatsoever, either express or implied, with respect to the premises . Optionee acknowledges that it is entering into this agreement on the basis of Optionee ' s own investigation of the physical and environmental conditions of the premises, including the subsurface conditions, and Optionee assumes the risk that adverse physical and environmental conditions may not have been revealed by its investigation. OPTION TO PURCHASE - 4 Notwithstanding the foregoing, nothing in this section implies an obligation that Optionee indemnify optioner against claims or a liability for response costs to federal or state agencies to the extent Optioner is otherwise liable under applicable law for such response costs . Optionee acknowledges that notwithstanding any prior or contemporaneous oral or written representations, statements, documents or understandings, this agreement constitutes the entire understanding of the parties with respect to the subject matter hereof and the purchase and sale of the premises, and supersedes any such prior or contemporaneous oral or written representations, statement, documents or understandings . Should any environmental cleanup costs or response costs to federal or state agencies be necessary on the premises following waiver of contingency 2 . 5 . (a) herein, then Optionee will pay the first $100 ,000 .00 of such costs . Thereafter, Optioner and Optionee shall share those costs equally. This section of the Option Agreement and section 2 .4 on Representations and Warranties of the Optioner shall survive closing of this transaction. 2 . 11 Default: If either party defaults in his contractual performance herein, the non-defaulting party may seek specific performance pursuant to the terms of this Agreement, damages, or rescission. The non-defaulting party shall be entitled to recover its costs and attorney' s fees in the event counsel is retained as a result of such default . The option consideration paid to Optioner shall be retained by Optioner in any event. 2 . 12 Attorney' e Fees : If either party named herein brings an action to enforce the terms hereof or declare rights hereunder, the prevailing party in any such action, on trial or appeal, shall be entitled to his reasonable attorney' s fees to be paid by the losing party as fixed by the court. 3 . CORPORATE AUTHORITY. If Optioner is a corporation, each individual executing this Option on behalf of said corporation represents and warrants OPTION TO PURCHASE - 5 `oe that he is duly authorized to execute and deliver this option on behalf Of said corporation in accordance with a duly adopted resolution of the Board of Directors of said corporation or in accordance with the Bylaws of said corporation, and that this Option is binding upon said corporation in accordance with its terms . Dated: May , 1995 . OPTIONEE OPTIONER THE CITY OF RENTON By: Earl Clymer, or ri�—p- Lycette, Jr. ATTEST: Beverly . Lycette Marilyn P tersen, City Clerk UNIVERSI'T'Y ENTERPRISES, INC. / ohn K. Blume, President OPTION TO PURCHASE - 6 yrr° rr►' STATE OF WASHINGTON ) } ss COUNTY OF KING } I certify that I know or have satisfactory evidence that John K. Blume is the person who appeared before me, and who signed this instrument, on oath stated that he was authorized to execute the instrument and acknowledged it as the President of University Enterprises, Inc. to be the free and voluntary act of such party for the uses and purposes mentioned in the instrument . Dated: May 1995 . of y Publ' c in and for the State of 2 ­L 4ashin tan, residin at S�Sh� & otary: Gt✓L�� 1 lj My appointment expires : CITY13 : 64F: as . OPTION TO PURCHASE - 8 STATE OF WASHINGTON ) ) ss COUNTY OF KING ) I certify that I know or have satisfactory evidence that John P. Lycette, Jr . is the person who appeared before me, and who signed this instrument and acknowledged it to be his free and voluntary act for the uses and purposes mentioned in the instrument. . N 0 �0�\Sg10N �p.•1' TAR), * • Puln- so = Notary Public in and for the State `f'�'•";-' of Washington, residing at q�F...244..•'��v Notary: �F W A�N,,� STATE OF WASHINGTON My appointment expires : ��`�- 160 ) ss COUNTY OF KING ) I certify that I know or have satisfactory evidence that Beverly R. Lycette is the person who appeared before me, and who signed this instrument and acknowledged it to be her free and voluntary act for the uses and purposes mentioned in the instrument. DATED: May , 1995 . N:0�•SNQp Notary Public in nd far the State �O \SS�ON, �• of Washington, residing at r a �pTAfty� Notary: �PUBl1G O: My appointment expires : 9� OF WAS�� OPTION TO PURCHASE - 7 r.r EXHIBIT "A" The land referred to is situated in the county of King, state of Washington, and described as follows : PARCEL A: Lots 4 and 51 Block 2, Motorline Addition to Renton; according to the plat thereof recorded in Volume 9 of Plats, page 50, in King County, Washington; PARCEL BS Lots 2, 31 16, 17 and 18, Block 21 Motor Line Addition to Renton, according to the plat thereof recorded in Volume 9 of Plats, page 50, in King County, Washington; EXCEPT the east 6 feet of Lots 16, 17 and 18 conveyed to City of Renton under King County Recording Number 910200 for street purposes . AS.113:109. May 8. 1995 �Inton City Council Minutes Page 190 Planning: Automall Planning Division requested a public hearing be set for May 22, 1995, to Ordinance reconsider the Automall Ordinance, adopted on 2/27/95, and to provide the opportunity for input from property owners in the area near Grady Way S. and Rainier Ave. S., which is proposed for a regional automall. Council concur. Planning: 1995 Planning Division submitted 16 proposed 1995 Comprehensive Plan Comprehensive Plan amendments (five private and 11 City-initiated; including 1994 carryovers for Amendments Bryant Motors, COR policies, and The Highlander/Parker PUD). Refer to Planning Commission. MOVED BY SCHLITZER, SECONDED BY KEOLKER-WHEELER, COUNCIL APPROVE THE CONSENT AGENDA AS AMENDED TO REMOVE ITEM 7.e. FOR SEPARATE CONSIDERATION. CARRIED. Separate Consideration Development Services Division requested acceptance of the dedication of eight Streets: Shattuck Ave. S. feet of lot frontage along Shattuck Ave. S. between S. 15th and S. 19th Streets, Street Dedication (Jacques for the eventual redevelopment of this street, as required for approval of the Short Plat, LUA-94-151) Jacques Short Plat II, File No. LUA-94-151. Councilman Edwards noted that Initiative 164 (relating to property rights/takings), which was recently approved by the State legislature, might affect this type of street dedication as it could be construed as a property taking. The initiative and its potential impacts to Renton will be discussed next week at Committee of the Whole. MOVED BY EDWARDS, SECONDED BY STREDICKE, COUNCIL REFER THE PROPOSED SHATTUCK AVE. S. STREET DEDICATION TO THE TRANSPORTATION COMMITTEE. CARRIED. CORRESPONDENCE Correspondence was read from Larry M. Brown, 261 SW 41st St., Renton, Citizen Comment: Brown 98055, regarding the appeal of the Hearing Examiner's decision on the Seed of - Seed of Abraham Abraham Church conditional use permit. The letter stated Mr. Brown's Conditional Use Permit, opinion that the conditional use permit application and subsequent support by CU-94-140 staff, the Environmental Review Committee and the Hearing Examiner stands on its own without First Amendment considerations. MOVED BY EDWARDS, SECONDED BY KEOLKER-WHEELER, COUNCIL REFER THIS CORRESPONDENCE TO THE OFFICIAL FILE, CU-94-140. CARRIED. OLD BUSINESS Council President Schlitzer presented a Committee of the Whole report Committee of the Whole recommending approval of the revised Governmental Access Channel Policy Franchise: Cable TV and Procedure as proposed. The Committee also authorized the regular Policies Council meetings to be broadcast on Channel 28 on a weekly basis, and authorized staff to determine the broadcast schedule in response to public input. MOVED BY SCHLITZER, SECONDED BY TANNER, COUNCIL CONCUR IN THE COMMITTEE REPORT. CARRIED. Public Safety Committee Public Safety Committee Chair Tanner stated that the Committee met to Police: Transfer of Persons discuss the problem of transferring persons with outstanding warrants to the with Outstanding Warrants issuing jurisdiction, but concluded there is no action to be taken. Therefore, to the Issuing Jurisdiction the Committee asked that this item be removed from its referral list. Budget: 1995, Adjustment Councilman Tanner entered into the record a letter from Mayor Clymer to the for Property Acquisition Council stating the Administration's intention to purchase five parcels located (Good Chevrolet) in the downtown area that are currently owned by Howard Sheridan and occupied by Good Chevrolet. Mr. Tanner objected to the purchase as an 0 ���' inappropriate use of taxpayer funds, particularly as the City has no clearly May 8. 1995 %W nton City Council Minutes *AW Page 191 defined public use for the properties, and said that this proposal would only shield a private business from the hazards of the marketplace. Sue Carlson, Economic Development Director, explained the purpose of the proposal is to ensure that Good Chevrolet relocates to the automall area at Lind and Grady Way rather than to the city of Tukwila. She noted one use for the acquired property might be for a transit station in cooperation with Metro. Also, a plaza or town square has been considered for the property at 3rd and Burnett, given the City's desire to revitalize the downtown and that such an amenity is referred to in the downtown plan. The remaining parcels could be leased to downtown businesses for parking. Ms. Carlson noted that l the sales tax revenues received from Good Chevrolet are considerable, and the City does not want its auto dealerships to begin relocating to Tukwila. Councilman Tanner replied that if Metro is interested in acquiring property in downtown Renton for a transit station, it should do so itself. Mr. Tanner i added it was his understanding that Good Chevrolet has received a purchase offer for the parcel between 2nd and 3rd on Logan Avenue. While he might support buying property for a public plaza, he felt that the parcels bordering 3rd St. would not be suitable for this use. Responding to Councilman Stredicke, Executive Assistant Covington said it has not yet been determined whether the City or Metro would own the transit station property. Mr. Covington added that by acquiring these five parcels, the City is trying to protect its investment in the future. For the record, Mr. Tanner requested an explanation for the use of the properties. Mr. Covington replied that the Administration has discussed creating a public plaza in the general vicinity of parcel #2 (intersection of 3rd and Logan), #3 (west side of Burnett between 2nd and 3rd) or #4 (next to Pipeline Trail along 3rd Street). No decision has been made as to the potential location of City facilities on i these parcels. Parking could be situated on parcel #1 (between 2nd and 3rd on Logan) or #3. Councilman Edwards inquired about the source of the purchase funds. Mr. Covington explained that the money will come from various reserves and fund balances that will be repaid within seven years from the increased revenues anticipated from expanded auto sales. Ms. Carlson added that the City will also receive $8,000 per month for two years from Good Chevrolet leasing back part of the property, which will reduce the purchase price by $200,000. 1 In response to Councilman Edwards, Mr. Covington said because the monies i being allocated from the street maintenance fund for this purchase are I unanticipated revenues, no planned street improvements will be delayed or otherwise affected by using these funds for property acquisition. Planning/Building/Public Works Administrator Gregg Zimmerman commented on the significance of securing a transit station for the downtown, emphasizing this is the highest priority project for ISTEA funding and adding that such a facility is important to the City's multi-modal transportation goals. Referring to Renton's public safety space needs, Councilman Stredicke questioned whether the City is correctly prioritizing its goals. Councilmember Keolker-Wheeler replied that the City stands to gain revenues by retaining Good Chevrolet in Renton, but would lose revenues should this business relocate outside of the City. Mrs. Keolker-Wheeler added that Renton is currently working to diversify its business base and lessen its dependence on Boeing. May 8, 1995 *40 0 Anton City Council Minutes Page 192 Council President Schlitzer noted that the City has consistently been asked to improve the downtown, and this proposal affords an opportunity to stimulate even more improvements. While he supported economic development in the downtown, Councilman Edwards had concerns with government playing a role in private enterprise. Councilman Corman stated he has seen public/private partnerships work successfully in other areas, and he considered the current proposal an investment in Renton's economic future. (See page 195 for ordinance.) Community Services Community Services Committee Chair Nelson presented a report Committee recommending concurrence in the staff recommendation that the driving range CAG: 95-026, Maplewood netting contract be awarded to SeaWest Construction for the reasons set forth Golf Course Driving in the recommendations. The Committee further recommended that the Range Netting resolution regarding this matter be presented for reading and adoption. MOVED BY NELSON, SECONDED BY SCHLITZER, COUNCIL CONCUR IN THE COMMITTEE REPORT. CARRIED. (See page 194 for resolution.) Planning: Master Site Plan MOVED BY EDWARDS, SECONDED BY SCHLITZER, COUNCIL TABLE Ordinance ACTION ON THE MASTER SITE PLAN ORDINANCE PENDING RESOLUTION OF THE APPEAL FILED 5/05/95 ON THE DETERMINATION OF NON-SIGNIFICANCE (DNS). CARRIED. Plannine & Development MOVED BY SCHLITZER, SECONDED BY EDWARDS, COUNCIL Committee REMOVE FROM THE TABLE THE ITEM CONCERNING THE SEED OF Appeal: Seed of Abraham ABRAHAM PENTECOSTAL CHURCH CONDITIONAL USE PERMIT AND Conditional Use Permit, APPEAL. CARRIED. CU-94-140 Planning and Development Committee Chair Stredicke presented a report regarding the Seed of Abraham Pentecostal Church and the appeal filed by Jennifer and Bud Brock. The Planning & Development Committee held a hearing on this matter on April 19, 1995. The Committee recommended that the Council find that the Examiner's conclusions of law are in error to the extent they did not include additional conditions to protect the adjoining single-family neighborhood from noise, light and glare. The Committee therefore recommended that Council affirm the Hearing Examiner's decision but add the following conditions: 1. There shall be ingress (right turns) only into the northerly driveway along Lake Ave. S. and vehicles shall exit only from the southerly drive on Lake Ave. S. 2. There shall be no windows in the building facing east. 3. The landscaping materials used from the corner of Lake Ave. S. and Tobin southerly along Lake Ave. S. to the start of the northernmost driveway shall be more mature landscaping materials consistent with good planting practice. The materials should not be so large as to present a high risk of mortality, but should be of such a size as to result in quick maturity and ultimate screening of this area to the extent reasonably practicable. 4. To minimize late-hour noise, all organized activities outside of the church structure and all amplification, including but not limited to voices and musical instruments, shall cease by 10:00 p.m. on the weekends. There is already a condition concerning ending church services by 10:00 p.m. on the weekdays. 11 0"ijl�161.1,P7 CITY OF RENTON MEMORANDUM DATE: May 8, 1995 TO: Renton City Council FROM: Mayor Earl Clymer SUBJECT: Downtown Property Acquisition Issue The City Council has authorized the Administration to buy four parcels of downtown property. These parcels, currently owned by Howard Sheridan and occupied by Good Chevrolet, represent an unique opportunity to further three key objectives of the City: 1) strengthen the City's financial condition by encouraging the relocation of the auto dealers to the automall zone at Rainier and Grady, 2) further the revitalization of downtown and 3) secure property for several possible future public uses. Financing The debt service on this property would be paid from increased sales tax revenue generated from the relocated dealership.The additional sales tax revenue from the relocated dealerships would pay for this property within 7 years. Background Why auto dealers are relocating out of downtown Auto dealers have been located in downtown Renton for over 40 years. However, conditions have changed and downtown is no longer a prime location.Only two auto dealers remain in downtown, Sound Mazda and Good Chevrolet. Comparison shopping is common among people purchasing a car and the dealers recognize this.In Renton,the car market has moved away from downtown and established itself along Rainier Avenue. Good Chevrolet contributes a significant amount of money per year to Renton's revenue base. Sound Mazda is also planning to move out of downtown. In addition, having a Chevrolet dealership in Renton is essential if Renton is going to continue to dominate the auto market in the South End. All of the major dealerships are currently represented in Renton. If Chevrolet moves to Tukwila it will leave a big hole in the marketplace, and might impact sales at other dealerships. Car sales represent $2 million in sales tax revenue to the City. A small increase or decrease in the number of cars sold can have a major impact on City revenues. Sound Mazda and Good Chevrolet have both indicated that they will move out of downtown. Good Chevrolet is losing market share and has been experiencing declining sales in its downtown location in spite of a very strong national auto market. General Motors has recognized Good Chevrolet's declining sales and has made its relocation the #I priority for the West Coast region. GM has approved one site in Renton and one site in Tukwila for the relocation. If Howard Sheridan does not buy property in Renton, General Motors would like him to move his dealership to Tukwila. This fits in with GM's current thinking which is to locate car dealers next to major retail centers. This would strengthen Tukwila's share of the auto sales market and weaken Renton's. Renton needs to maintain its "one-stop" auto shopping advantage. 05/08/95 Page 2 The automall site is constrained by factors including: 1) higher cost to buy and develop and 2) multiple ownership of property parcels. Five acres in this area is now under option to a single party, but the option runs out this month. It will be much more cost effective for Good Chevrolet if a deal could be made to purchase that property before the option runs out. Before General Motors will approve Good Chevrolet's relocation to the Renton Automall, Howard Sheridan, the owner of Good Chevrolet, must get commitments to sell some of downtown property. The City's commitment to buy this downtown property ensures that Mr. Sheridan will buy 5 acres at Lind and Grady and build a new dealership in Renton. Benefits to Renton Strengthen the City's Financial Condition Using auto industry information, staff estimates that Good Chevrolet's annual sales will increase by 25 to 35 % at its new facility. Sound Mazda has acquired enough property in the automall zone to move and expand its dealership. It will only do so, however, if a major dealer relocates in the same area. Sound Mazda expects to increase sales by 50% in its new location. Together,these dealerships in their new locations will generate an estimated amount over$100,000 in additional annual tax revenues for the City. Opportunity to Revitalize Downtown and Secure Propertyfor Future Public Uses The property currently occupied by downtown auto dealers represents the biggest block of underdeveloped property under a single ownership in the downtown. This is either a terrific asset or a great liability to downtown,depending on who acquires the property. The purchase of this property would move the City toward its goal of revitalizing the downtown by preserving land for a Metro Transit Station. The City is currently working with Metro to obtain funding for site analysis and selection of a downtown transit center. One of the parcels that is recommended to be purchased, the corner of S. 4th and Burnett, has been identified as a potential site for the transit center. This site is conveniently located next to the commuter rail line and is on the Burnett Avenue transit corridor. It also allows the City to move forward with its plan to create a downtown plaza as a focal point and gathering place. On a temporary basis, this property could be used for a Famer's Market and for customer or employee parking. Other developers are not interested in downtown at this time because the downtown market will not support the rents necessary to develop new buildings. New construction will require retail rents of$14 to $20 per foot. Retailers are currently paying$2 - $10 per foot.The office market is over built in Renton and new office buildings will not be built unless there is a user already lined up for the building. Intrawest, a major northwest developer, has expressed an interest in acquiring some of the Sheridan property for market rate housing, but they are not interested in being the first to attempt a major revitalization project.They would seriously look at a low rise condominium residential development if the City, or some other public agency,took the lead and created a focal point for the downtown. The transit station, a town square and a farmer's market are all positive elements that will attract quality development to the downtown. Likely scenario if Ctty does not purchase property. The automall is never built ::Good Chevrolet moves to.Tukwila. The City would lose the tax revenues fi om Good Chevrolet It would never collect the additional sales tax thatthe expanded dealerships would generate.. *AW I%W 05/08/95 Page 3 Recommendation Execute a purchase and sale agreement with Howard Sheridan for the four parcels of downtown property described below and amend the 1995 budget to permit the acquisition. Property Acquisition Parcel Description Tax Account Numbers 1)Large parcel between 2nd and 3rd on Logan 569600-0010 784180-0035 2)Parcel located at intersection of 3rd and Logan 569600-0005 3)Two lots on West side Burnett between 2nd and 3rd 569600-0115 569600-0120 4)Third Ave-Small vacant lot next to Pipeline Trail 569600-0050 5)Fourth and Burnett- W. side of Burnett next to Spirit of Washington 783930-0315 783930-0305 ------------ Subject Property 20. t �d. 1 r• Q 4 I - )S AX50 2 I, )0 I I 7H 21 1 ' 1 k2 6 51 wo , 1 4 y t b l5 .•� N � 50 6 1`T u •� cs YO PC I ' o ld ! !60' t s ,•s u 319D ST. it 60 S034 3 2 � 4 I 2 I 311 ) ) 1# tl Li =3, IS ' �- P ' Is 3u 8 a) 3 �3 312 8 . .ato •_.� 1., ": 9 ly 'It 316 9 u•� a.xl 5� �t 13 v.0 y kt 3is 32a k^ �I 15 �? — 3:1 320 I i u1N,c 323 y 32t II 321 t5 I I 3?9 324 c^.I (0 - t 332 3 .2L :330 13 ° 336 a '3 o (3 I ' NUR[ 1' 1-1 83 336 13 14 11 34t 16 15 .4TH X `'ctlnic T $ c� TONKIN b — ,,> PARK 60 Is v C o- - vo v J 8 , c 3 I ray--�l Q 'S 2: --- �1 S _ 18 alt _ at 1. lo° t) 16 E91 13 I IS 6t a;c 60 rAli > Z 5L 1 1 F-1 $ ; ui Z Lr Y_ Sr o 5TH ST. _ co �a Tl� t`' I EMBIT A IDENTIFICATION OF SUBJECT PROPERTY There are eight assessor's parcels which we are appraising for the City of Renton. In this report, the parcels which are contiguous to each other have been grouped into Subjects#1-#5. Subject Parcel#1 Tax Parcel#569600-0010 255 Logan Avenue South Title Insurance Parcel A Tax Parcel#784180-0035 210 Morris Avenue South Title Insurance Parcel C Subject Parcel#2 Tax Parcel 4569600-0005 528 South 3rd Street Title Insurance Parcel B Subject Parcel#3 Tax Parcel#569600-0115 219 Burnett Avenue South Title Insurance Parcel D Tax Parcel#569600-0120 219 Burnett Avenue South Title Insurance Parcel E Subject Parcel#4 Tax Parcel#569600-0050 233 Burnett Avenue South Title Insurance Parcel F Subject Parcel 45 Tax Parcel#783930-0315 333 Burnett Avenue South Title Insurance Parcel G Tax Parcel#783930-0305 339 Burnett Avenue South Title Insurance Parcel H ENVIRONMENTAL AUDIT PERMIT Page 3 of 3 A8.115:45. Subject Property `1 - --- - — _ 2015!AC1. so r t 1 44 1. ao F ° �7 P 4 IQ (f) 1 - 76.. . I ' Or I _, 1 I = t2 f r.c I 2 , $ I 2I1S% J 719 c — e t_- '6 �7 412 a� I'S 3 a, I Q` 6 S 6 21 s a :13 �rc� •16 � _ 1 35 F 7 Xv t AID Ln Ln in 4 n v! O << CA 5 190 rJ �'�• F•1 o I pS e��•f El 6.S J a r I F.. !c� !6C Iri rh �{I� p 31?D ST. - -- J , ( o a _ In �a o44- z r oI _ '`^•~-, G a"f` �� .it 42 J 2 � 4 �d 1 Q 2 I Li I o $ 3t1 �7 n , 7 .2C 7 _ _� all Y,5 3a 8 ,!- �' 3 j3 312 23 t`r4 a 8 . En ED PLAZA 321 u - 6 w 323 �ti 3:5 II 327"c,I II 3?9 324:• I 0 1 • � 1Z" [] 33° •p � 332 1 a n ' a ?H 0_ 1-y J R j 33 D 336 a ----�� "0 i4 11 � 14 X10 .� ,O15 15 li. 4THMSTF $ 5,> ''� TON.KIN PARK 19 O "� 41 -1 r•cl � 1 �"� �d � 1� r Q SLI la, �_ _�_r ��°' 15 �j' • A s aio •` !��, l r ;� ` 17 �IS � � a:s •' � � r• W �,� it ��'} - ._''S �6 .� � 12 3 1 V 6 7 37 9 a`r`v:. r Q a�--10 3 1>> ¢ 0 j12• ZI1 z I 7 Q bLlj 5TH C) - L�_1 i 24 L3 I'I I I A =,f I ! - - K•.�,S 95-XA w LLh.I,Z.O.1 Ar^,,,i 'SC.YQ,U1C ,> CITY Of SEATTLE - NAIER 017PARTMCNT - MYS:tmd PI:RMIT AGRLIMENT THIS AGREEMCHT is entered into by and between the CITY OF SCATTLE, a municipal y corporation of the State of Washington$ herelnalter called the "City", and Pe lies National Q-v&, Tr,ivt� u,/w of. Jain 9"i:9on and ITay�ai t.illimrs Estate - Ruth Williams, Jeray Holmes and carolyn Wines, Co-Executors hereinafter coiled "Permittee", for and in consideration of the mutual benefits and terns end conditions herein below set forth in greater detail, to provide for the use by the Permittee of certain real property owned by the City. WHEREAS, the City owns in fee the ,�riRiverJ'_iye i�c right of way, 66 feet aide, containing large-diameter water p pelines an oc'ated in part ad3aCenE- to Permittee's property, and 4 WHEREAS, Permittee is the owner or contract purchaser of the following k 0 described property: ri �A l.ot 1, hock 1 and 1-at 1, Alnck 2, Notor Line 6daztion to iientor,, C s-t accordinf; to the plr.t thereof recorded in Volume '9 of Fiats, r p=:F e 50, re:c•rds of Y.;nr County, .;eshinrton; F located adjacent to City's pipeline right of way; c NOW, THEREFORE, it is mutually agreed by the City and Permittee as follows: F 1. Permittee is hereby granted a revocable permit to use and occupy, for E vehicle parking and access purposes. the following described real property: Thatp ortion of the City of Seattle's 66 foot wide Ceddr River Pipeline fight of way adjacent toLoti, Block 1, Motor Line Addi- tion to Renton lying between the west margin of Logan Avenue South and a line 100 feet west of and parallel with said west margin. and That portion of said pi eline right of way adjacent to Lot 1, Block 2 Motor Line Addition to Renton lying between the east margin of Logan Avenue South and a line 106 feet east of and ,parallel with said east z margin, less that portion, lying north of the following described line: 5 f. Beginning at a point on the east margin of Logan Aveuue Souuth wt. ch 15 15 feet south of the north margin of said pipeline right n. way, thence 43.16 feet easterly along a line perpendicular to said east margin to a point on a line.which is 1 foot southerly and parallel with said north n ' margin, thence easterly along said parallel line 66.07 feet to a point of termination on a line 106 feet east of and parallel with the east L margin of Logan Avenue South, Both portions containing a total area of 13,881 square feet, more or less. 3z 2. The effective date of this agreement she?1 be January 1__ 19 83. ,# 3. The rent for the use of the above described area for the period beginning {9 and ending 0 camber 31 . 1983 shall be at the annual rate of , p��tQQ -to which shall be edge the tate Leasehold Excise Tax {currently 12.84 X) S ink amount of f 36 5�_. making a inial payment of S l_15��-52 payable on or ' before �nu��Y ] , l9 83. for each of the four successive years beginning r 'inuarii lg J84-. tie annual rent shall be increased 5% above the rate for the prate ng year an s all be payable in advance on or before January 1 of each year as follows: January 1 1984 : S 2.940 plus Leasehold Excise Tax 41 E 19 tis : 3 087 19 86 : 3 k N u " 1987 : _a403 _— In the event that the 5% annual increase for any of the calendar years pertinent hereto shall be in excess of the annual rent increase as published by the U.S. • Department of labor, Consumer Price Index for the Seattle-Everett area. such excess p payment shall be credited to Permittee's account or ^eturned as the case may be. Prior to January 1 r. 1988 , ibis agreement shall be subject to review and revision. This sche3uTe�of rent adjustment and of review and revision shall not be construed in 4ni ion of or ity of is hall r<s ` the Cityas right�tntterminateethismpermitnasvprovidedhin permit, limit _ Page i of 3 KIM {€ d. 1t is understood and agreed that Permitt_e -.4i 11 operate and raintain tte peri: area in a cl=ean, safe ar;d orderly condition.at all tires. Pernittee may iripro're the h. 4uriace of the permit arca with an as halt :urfacir,g 1t Per-19ittee-S own cost and e-cense. lto:,ever, as a condition of the issuance of this pernit, Per:niLtee :hall, at Perr..iLtae's Von cost and expense, pru..ide and maintain a dust-free surface upon the permit area and provide far the disposal of the surface storm draina,(� Crater from the permit arra into the City of Renton's storm drainaee system. Perrnttce further agrees to comply with an,, and all ordinances and requir;nrents of the City of R+;nton with regard Lo Permitt^e's use t of the pewit arca. S. Permittee agree that no change in the existing grade of the permit arca sha'.1 be made, and that no building- fences, structures, pipes, cables, conduits, light Standards, r fences, ualls, pianters, signs or other facilities Shall be erected, installed or Perini cteJ to remain within the permit area except with prior approval in writing from the Superintendent of nater. ' N 6. The City shall at all tions have free across to the permit arca for the C' opc-aLion, maintenance and repair or its water pipeline or for any other purpose, and Permittee agrees that the City shall lint be responsible for the restoration or repair t'. C: of any of Permittee's improvements destroyed or damaged during such rperation, repair, <. maintenance or other purposes, and Permittee shall not be entitled to pay:rent for darages for any loss of use of the permit area during such operation, ma;ntenance and ski QD repair, otritr than a pro-rata reedit for prepaid trent. 7. Permittee agrees upon receiving a bill therefor front the. City to prompt y pay £w: _ for any loss or damage to the City's pipeline, the pipeline ri,;ht of wa:, a other City facilities caused by or resulting from the use by Permittee or anyone IS of the. i; permit area, and further agrees at all times to protect and save harmirss the City 5", from Jil claims, actions, suits, or damages of every kind and description which Indy accrue to or be suffered by any person or persons by reaicn of the use or occupancy of said permit area, and in:case any action or suit shall be instituted or Uegun aellinsL the City for damages arising out of or by reason of such occupancy, Permittee shall upon notice to it upon comasencenent of such action, ol- suit, defend the same at its sole cost and expense, and in case judgment shall be rendered against the City in any `b such actions or suits, shall fully pay and satisfy such judgment trithin ninety days after such action or suit shall have been finally determined. 8. Permittee agrees at all times to maintain for tht,. protection of the City a Y liability insurance policy, such policy and the insurer to be subject to approval by the City, naming the City as an additional insued, with minimum; limits of $300,000 r for injury to one person and $1,000,000 in the aggregate for injury to any number of '14 `: persons in any one accident, and $100,000 property damage, insuring against loss or damage arising odt of or resulting from the use and occupancy of-the permit area by _ Permittee, or from any defect or condition upon such permit area or in maintenance of the permit area, and to furnish the City's Superintendent of Water with certificates ? evidencing that such policies are in effect, and that the coverage afforded the City of Seattle under such policy shall not be reduced, terminated or cancelled until (10) 1. days after receipt of notice thereof by the Superintenddnt of Water. Should such insurance policy not be maintained in effect or be cancelled, the Superintendent of Water may revol.e this permit immediately. 9. Permittee has inspected and examined the physical condition of the permit area including improvements thereon. and accepts the permit area in its present condition, 'I and any expense incurred in mutually agreed upon alterations, improvements of repairs, z = in said permit area shall be borne by the Permittee. Permittee covenants that no representations, statements or warranties, express or implied, have been made by or on behalf of City with respect to the condition of the permit area or the use or occupancy ' that may be made thereof, and that the City shall in no event be or becoe liable to m Permittee for latent or patent defects in the permit area. 3 Y 10. Permittee shall be liable for. and pay throughout the term of this permit, the State Leasehold Cxcise Tax, all taxes on the property of the Pernfittee installed, operated and maintained on the City's property, any taxes on any property interest deemed by the King County Assessor, or other official of the State of Washington, King County or other taxing entity responsible therefor, created by this permit and shall a otherwise fulfill all fiscal obligations required by law. % 11. This permit is not transferable without written permission from City's Superintendent of Water. 1P. This permit is revokable upon thirty days' notice by either the City's �" Sunerintendent of Water or Psr'miLtee. Upon revocation by either party, any prepaid rental fees for periods exten•-ling beyond the termination of this agreement will be refunded to Permittee by City. 2 - Page 2 of 3 : e yz:�.. _..._.r -,i - Aa-:4"n3D BY 1 - RutA Williams, Cb-Deecutor� 7 ,l y Ho s, -Fwe,utor Carolyn 0 res, Cb-Ijcecutor ,p f O FTOPLES NATIONAL DANK, Trustee u/- s' - v of John SlvansOn and Haydec: :r'illisns cr 1414 Fourth Avenue OJ Seattle, Washington 98101 Title. tOffic:r _ ' Title. Ttust Officer 11 t�' - APPR417ED x; SEATP:,E UATER J"AFilSENiIf Date i Superin t of Water 3 Ste; ON of a - Page 3 of 3 i a f - �"r�-,�rsx�r �., SEATTLE WATER DEPT 821 2nd AVE. #i th FLR. --- SEATTLE,WA 9E3104 ADO St JYK�l t3 k �F `7th _.3 1� F L= 3r s�6 � J _hr-1 -.x 'ti1�s_�`.�''Sa����i'�+_�'7�Y��i�•-.�'T�S>�i��: �5�ci�. »'- K'r-�.-?�..::��•zi�..r..,( `�'t�'_-,_ .._ _-.. c .�. ,. .' e= + March 22, 1999 *411 Renton City Council Minutes *4*0� Page 102 OLD BUSINESS Council President Pro tem Corman presented a report regarding development Committee of the Whole and use of the Pavilion Building. At its March 22, 1999 meeting, the EDNSP: Downtown Pavilion Committee of the Whole received a briefing by staff on various development Building, Use Alternatives alternatives considered for the Pavilion Building, located adjacent to the Downtown Piazza. The Committee concurred with the Administration's recommended concept of using the building as an exhibition/conference center _with banquet capabilities. The Committee also recommended that the Administration be directed to refine cost and design information associated with this concept. The Committee further recommended that this item be referred to the Community Services Committee for more in-depth study and review. MOVED BY CORMAN, SECONDED BY NELSON, COUNCIL CONCUR IN THE COMMITTEE REPORT*. Councilmember Keolker-Wheeler said that alternatives other than using the building as an exhibition/conference center should not yet be dismissed without further consideration,particularly as the public has not had a chance to comment on this proposal. MOVED BY CORMAN, SECONDED BY SCHLITZER, COUNCIL AMEND THE COMMITTEE REPORT TO READ AS FOLLOWS": At its March 22, 1999 meeting, the Committee of the Whole received a briefing by staff on various development alternatives considered for the Pavilion Building,located adjacent to the Downtown Piazza. The Committee recommended that the Administration be directed to refine cost and design information associated with the Administration's preferred concept of using the building as an exhibition/conference center with banquet capabilities. The Committee further recommended that this item be referred to the Community Services Committee for more in-depth study and review. "CARRIED. *MOTION CARRIED TO APPROVE THE COMMITTEE REPORT,AS AMENDED. EDNSP: Purchase& Council President Pro tem Corman presented a report regarding the 4th& Development of the 4th& Burnett surplus property. The City of Renton originally purchased the property Burnett Property located at the northwest corner of S.4th St. and Burnett Ave. in downtown Renton for municipal purposes in 1994. By Resolution 3365 on December 7, 1998, when the property was no longer deemed necessary for public purpose, the Council authorized staff to proceed with actions to surplus the property for public sale. The City commissioned an appraisal on the property and accepted purchase proposals during the months of February and March, 1999. Dally Homes, Inc. submitted a proposal in the amount of$466,900, subject to the following contingencies: •58 dwelling units on the site,or a reduction in price of$8,050 for each unit removed; •reduction in price for the removal of any contaminated soil, concrete slabs or railroad tracks; •reduction in price for special pilings or footings as a result of soil conditions; and • approval of the project. The Administration recommends approval of the purchase and sale agreement with Dally Homes,Inc., subject to the above contingencies and a final sales price no less than the appraised value of$350,000. e APPROVED BY CITY COUNCIL Date l a 7i f COMMITTEE OF THE WHOLE COMMITTEE REPORT March 22, 1999 Development and Use of Pavilion Building (Referred March 15, 1999 At its March 22, 1999 meeting, the Committee of the Whole received a briefing by staff on various development alternatives considered for the Pavilion Building, located adjacent to the downtown Piazza. The Cakmmittee east ,..5 ..th 1§11 -trativne b e-amities. The Committee moa recommends that the Administration be directed to refine cost and design information associated with& concept. , 7'- R a,u 6V15TRRTra The Committee further recommends that this item be referred to the Community Services Committee for more in depth study and review. Randy Corman, Council President Pro-Tem C: Sue Carlson ,.� CITIF RENTON Office of the City Attorney Earl Clymer,Mayor Lawrence J.Warren CIN OF RENTON MEMORANDUM JUL 2 5 1995 RECE;VEIN CITY CLERK'S OFFICE To: Marilyn J. Petersen, City Clerk From: Anne Santos, Legal Assistant to Lawrence J. Warren, City Attorney Date: July 25, 1995 Subject: Sheridan Property-Identification of Parcels I am attaching the information that you requested from Larry concerning the Sheridan property. Anne Santos LJW:as. Enclosure A8:115.46. Post Office Box 626 - 100 S 2nd Street - Renton, Washington 98057 - (206)255-8678 EXHIBIT A IDENTIFICATION OF SUBJECT PROPERTY There are eight assessor's parcels which we are appraising for the City of Renton. In this report, the parcels which are contiguous to each other have been grouped into Subjects#1-#5. Subject Parcel#1 Tax Parcel#569600-0010 255 Logan Avenue South Title Insurance Parcel A Tax Parcel#784180-0035 210 Morris Avenue South Title Insurance Parcel C Subject Parcel#2 Tax Parcel#569600-0005 528 South 3rd Street Title Insurance Parcel B Subject Parcel#3 Tax Parcel#569600-0115 219 Burnett Avenue South Title Insurance Parcel D Tax Parcel#569600-0120 219 Burnett Avenue South Title Insurance Parcel E Subject Parcel#4 Tax Parcel#569600-0050 233 Burnett Avenue South Title Insurance Parcel F Subject Parcel#5 Tax Parcel#783930-0315 333 Burnett Avenue South Title Insurance Parcel G Tax Parcel#783930-0305 339 Burnett Avenue South Title Insurance Parcel H ENVIRONMENTAL AUDIT PERMIT Page 3 of 3 A8.115:45. Y• Subject Property I 1 • y,r•• i _� � 20 75 C; rt 1 1 ro Q b 2C m 6b 44 as c p�RK',4 IQ I 201 i Z rt7 E O r l 12 ' ? 3 Ks '� - � o , 16 I roa d 1 6 n r -3 W S l O M I h 7 3, �' !n L J ' CA S , 7 c "J [ oCr 6p' ♦ 1 61% S N 10 r11 ,sem ti ri p 3RD ST. -- 7_11v -f' -�- F- � cu 60 m �- JY I 0 5 4 i 2 I, bw ` 311 Q1 ;II z'A 1 c�E 7 ----� IS ( II is 31a g „!5 3 �3 -F3 1-21 8 . 23 FSP d ED 31' 316 9 CEM'UR1341LA SF t�r 13 k^, �� yi5 )� - 3� - 320 121, 323 EFZ7 ?5 (1 �'-9 324_..1 0 ` 332 1 a EDI-� I � 335 (3 336 a ----�� o_ 4 11 ¢ 5a 2 3aA IC 344 � �/ 4/ !7 C-"-", ,sic S/. �� T NKI f_ I 60 o- r it r 3o y Q .6 j2 - 19 25 :215 17 IS 12 76 © 34 , 9 K U :Ts 94 u 10 i3 ¢ 0 12 Q 6 'd` Q, I sa ►z— SETH �y�y ST _ $ I=V -ri . 124 [til f;; =f f 24 _-. ,• ,•. .• . `. - •- K'A S 95-004 W.ahuwm Apor-1 Savicn.-I- ..` .. "»li.i :'ng.. i?,d':.'. Yt. " 4.. ✓+f.E. f : i:' '. .:.[ -. ! ;i.- .0 i�SSh :•.yS4i .. .1 ,_y'i..`. AMERICAN LAND TITLE ASSOCIATION OWNER'S POLICY (10-17-92) CHICAGO TITLE INSURANCE COMPANY -r t SUBJECT TO THE EXCLUSIONS FROM COVERAGE, THE EXCEPTIONS FROM COVERAGE CONTAINED IN SCHEDULE B AND THE CONDITIONS AND STIPULATIONS, CHICAGO TITLE INSURANCE COMPANY,a Missouri corporation,herein called the Company,insures,as of Date of Policy shown in Schedule A, against loss or damage, not exceeding the Amount of Insurance stated in Schedule A, sustained or incurred by the insured by reason of: 1. Title to the estate or interest described in Schedule A being vested other than as stated therein; 2. Any defect in or lien or encumbrance on the title; 3. Unmarketability of the title; 4. Lack of a right of access to and from the land. The Company will also pay the costs, attorneys' fees and expenses incurred in defense of the title, as insured, but only to the extent provided in the Conditions and Stipulations. ` In Witness Whereof,CHICAGO TITLE INSURANCE COMPANY has caused this policy to be signed and sealed as l of Date of Policy shown in Schedule A,the policy to become valid when countersigned by an authorized signatory. 1$ CHICAGO TITLE INSURANCE COMPANY Issued by: By: m� CHICAGO TITLE INSURANCE COMPANY 1800 Columbia Center 701 Fifth Avenue Seattle, Washington 98104 Presiden ' (206) 628 - 5666 1 f By: 0. Secretary �. "� .. y.".::;• r3.'ii it ;;.,,?y,� .'.,:u.. r J : .; V•.�>. n.'•8 ',.:..,.ee. ye.. , '„ .:.,.y Y;: ALTA Owner's Policy(10-17-92) •aol!pajo ua!l jo luaw6pn1 a ao on!en jo;joseyoind a of aollou liedwi o;uollepiooai tions Jo (q) jo!ja;sueal;o luawnilsu!ayl pjoow A!awll of (e) :ajn!!e;ayl wail sl!nsai as;sueal!eguaja;aid ay1 weLlm ldaoxa jalsueil leguaia;aid a pawaap 6u!aq Ao!!od sl41 Aq painsui lsaialui jo al8;se 041 6u!leaio uolloesueil atil (11) jo!ja;suejl 1ua!npnei;jo aoueAanuoo lua!npneil a pawaap 6ulaq Ao!!od s!yl Aq paunsu!lsajalu!jo alelsa ati16ul1ewo uo!loesueil ayl (!) :uo poseq s!leyl`sme!sl46!a,saol!pajo je!!w!s jo`Aouan!osu!alels`Aoldnj)!ueq!supe;;o uolleiado eti1;o uoseai Aq`Ao!!od sl4l Aq pajnsu!lsaJalu!ao alelsa ayl pamsu!041 u!6u!lsan uolloesuBA1041;o lno seslje 4ol4m`w!e!o Aud •q -Ao!!od s141 Aq painsui lsajalui ao alelsa a43 jo;an!en pled pey 1u8w!e!o painsui ayl;1 pau!elsns uaaq aney lou p!nom yo!ym a6ewep Jo sso!w 6u!11nsai (a) jo!Ao!!od;0 alea of luenbasgns paleaJa J0 6u!43e11e (1)) :1uewle!o painsu!04101 86ewep Jo ssol ou u!6ul1!nsai (o) !A3ilod s141 japun painsui us owsoaq luewle!o painsu!041 0181)041 0l joljd luewle!o painsu!041 Aq Auedwo0 041016ulIPm ul paso!3s11)lou pue luew!e!o painsu!04101 umou)!lnq`Ao!!0d 10 0180 Is spiooam o!!gnd 041 ul papJooaU lou`Auedwoa 04101 umou)!lou (q) :luewle!o painsu!041 Aq of peaj6e Ao pownsse`paial;ns`paleen (e) :sJallew aaylo Jo sw1813 asJanpe`seouejgwnoua`sua!!`sloe;a0 £ •eBpa!mou)!1n0411m an!en Jo;Jase4oind 8 1 s1461a 041 u0 6ulpulq aq p!nom 4014m Ro!!od;o alea of joljd paun000 sey 43!4m 6uplel Aue a6ejamo wail 6ulpn!oxa lou 1nq `Ao!!od ;o alea is spjooaj o!!gnd 043 ul papJooaA uaaq sey;oaaatil asloMa a41;o aollou ssa!un ulewop luaulw0;o s146!a 'Z -Ao!!od;o a1e01s spiooei o!!gnd 841 u!papiom uaaq se4 pue! ayl 6ugaa�e uo!le!o!n P8138118 Jo u0lle!o!n a wail 6ulllnsai aouejgwnoua jo ua!!`lo0;ap a;0 031lou 8 Jo;oaUa41 as!oiax0 ati1;o aollou a 1e41 lualxa 0410l ldaoxa`anoge(e)Aq papn!oxe lou jamod ao!!od!eluawujano6 Rud (q) *Ao!!od;o alea le spjooei o!!gnd 041 ul pepjooei uaaq sey pue!041 6u1130ye u0!le!o!n pa6011e Jo u0!le!o!n a wail 6u!llnsai aouejgwnoue ao ua!!`10010p a;0 aollou 8 JO 100J041 luawaoao;ua 041;0 aollou a 1841 lualxa 04101 ldaoxa`suolle!n6ai 1eluawuJano6 ao saoueu!pJo`sme!as041 10 uolle!o!n Aue;o lo0,4a 041 Jo`uo!loalaid!eluawuailnua(Al)Jo!lied a sem jo s!pue!0414314m10!awed Aue jo pue!04110 ease Jo suo!suawlp a41 u!06ue43 Bio dlysieumo ui uo!lwedas a(!!!)!pue!041 uo paloaUa Jal;eaaa4 jo mou luawanaidw! Aue ;o uolleool jo suoisuawlp je4*PJ940 041 (11) `•pue! 041;0 luawAofue jo °asn Xouedn000 041 0) 01 6ulle!aJ J0 6u!;!q!yaid `6u!le!n6a� `6u!lo!Asw (suo!18!n6a� ao `saoueu!PJ0 `sme! 6uluoz pue 6ulp!!nq of pai!w!! lou 1nq 6u!pn!3u!) uolle!nBei !eluewwano6 j0 0oueulpio `me! Aud (e) l :lo uoseaj Aq aslJ8 4014m sasuadxe ao seal,sftaujo4le`slsoo`a6ewep jo sso!Aed lou!!!m Auedwo0 041 pue Ao!!od S141 10 a6eJano3 041 wail papn!oxe A!ssaadxa aie siallew 6u1m0!!O;841 3JHa3AO0 WOW SNoismm ,-0 cIICAGO TITLE INSURANCE COMPAtmo-+ 1800 COLUMBIA CENTER, 701 5TH AVE SEATTLE, WA 98104 PolicyNo.: 432682 EXTENDED OWNER POLICY SCHEDULE A Amount of Date of Policy: JULY 7, 1995 at 2:20 PM Insurance: $900,000.00 1. Name of Insured: THE CITY OF RENTON, A MUNICIPAL CORPORATION 2. The estate or interest in the land which is covered by this policy is: FEE SIMPLE 3. Title to the estate or interest in the land is vested in: THE CITY OF RENTON, A MUNICIPAL CORPORATION 4. The land referred to in this policy is described as follows: SEE ATTACHED DESCRIPTION CHICAGO TITLE INSURANCE COMPANY WRICAGO TITLE INSURANCE COMPAI'`!' Policy No.: 432 682 EXTENDED OWNER POLICY SCHEDULE A (Continued) LEGAL DESCRIPTION PARCEL A: LOTS 6 AND 7, BLOCK 1, SMITHER'S SIXTH ADDITION TO THE TOWN OF RENTON, ACCORDING TO THE PLAT THEREOF, RECORDED IN VOLUME 26 OF PLATS, PAGE(S) 47, IN KING COUNTY, WASHINGTON; TOGETHER WITH THAT PORTION OF THE ALLEY ADJACENT TO SAID LOT 6 VACATED BY CITY OF RENTON ORDINANCE NUMBER 2779, WHICH ATTACHED BY OPERATION OF LAW. PARCEL B: LOT 1, BLOCK 1, MOTOR LINE ADDITION TO RENTON, ACCORDING TO THE PLAT THEREOF, RECORDED IN VOLUME 9 OF PLATS, PAGE(S) 50, IN KING COUNTY, WASHINGTON. PARCEL C: LOTS 2 THROUGH 5, INCLUSIVE, BLOCK 1, MOTOR LINE ADDITION TO RENTON, ACCORDING TO THE PLAT THEREOF, RECORDED IN VOLUME 9 OF PLATS, PAGE(S) 50, IN KING COUNTY, WASHINGTON. PARCEL D: LOT 14, BLOCK 2, MOTOR LINE ADDITION TO RENTON, ACCORDING TO THE PLAT THEREOF, RECORDED IN VOLUME 9 OF PLATS, PAGE(S) 50, IN KING COUNTY, WASHINGTON; EXCEPT THE EAST 6 FEET THEREOF CONVEYED TO THE CITY OF RENTON FOR STREET PURPOSES BY DEED RECORDED UNDER RECORDING NUMBER 910189. PARCEL E: LOT 15, BLOCK 2, MOTOR LINE ADDITION TO RENTON, ACCORDING TO THE PLAT THEREOF, RECORDED IN VOLUME 9 OF PLATS, PAGE(S) 50, IN KING COUNTY, WASHINGTON; EXCEPT THE EAST 6 FEET THEREOF CONVEYED TO THE CITY OF RENTON FOR STREET PURPOSES BY DEED RECORDED UNDER RECORDING NUMBER 910200. PARCEL F: LOT 1, BLOCK 2, MOTOR LINE ADDITION TO RENTON, ACCORDING TO THE PLAT THEREOF, RECORDED IN VOLUME 9 OF PLATS, PAGE(S) 50, IN KING COUNTY, WASHINGTON, MORE PARTICULARLY DESCRIBED AS THAT PART OF BLOCK 2, SAID MOTOR LINE ADDITION TO RENTON, LYING SOUTHERLY OF A LINE WHICH IS PARALLEL WITH AND 66 FEET SOUTHERLY FROM THE SOUTHERLY LINE OF LOTS 2 AND 18 OF SAID BLOCK 2. PARCEL G: LOTS 16 AND 17, BLOCK 33, SMITHER'S FIRST ADDITION TO THE TOWN OF RENTON, ACCORDING TO THE PLAT THEREOF, RECORDED IN VOLUME 9 OF PLATS, PAGE(S) 17, IN KING COUNTY, WASHINGTON; CHICAGO TITLE INSURANCE COMPANY A%wHICAGO TITLE INSURANCE COMPA`. f Policy No.: 4 3 2 6 8 2 EXTENDED OWNER POLICY SCHEDULE A (Continued) LEGAL DESCRIPTION EXCEPT THAT PORTION OF SAID LOT 16 CONVEYED TO THE CITY OF RENTON FOR STREET, ALLEY AND ANY OTHER PUBLIC USES AND PURPOSES BY DEED RECORDED UNDER RECORDING NUMBER 7401170345. PARCEL H: LOTS 18 THROUGH 21, INCLUSIVE, BLOCK 33, SMITHER'S FIRST ADDITION TO THE TOWN OF RENTON, ACCORDING TO THE PLAT THEREOF, RECORDED IN VOLUME 9 OF PLATS, PAGE(S) 17, IN KING COUNTY, WASHINGTON. CHICAGO TITLE INSURANCE COMPANY voHICAGO TITLE INSURANCE COMPAlo Policy No.: 432 682 EXTENDED OWNER POLICY SCHEDULE B EXCEPTIONS FROM COVERAGE This policy does not insure against loss or damage(and the Company will not pay costs,attorneys'fees or expenses) which arise by reason of- GENERAL EXCEPTIONS: AH 1. ENCROACHMENTS, OVERLAPS, BOUNDARY LINE DISPUTES, OR OTHER MATTERS WHICH WOULD BE DISCLOSED BY AN ACCURATE SURVEY AND INSPECTION OF THE PREMISES. Al 2. EASEMENTS, OR CLAIMS OF EASEMENTS, NOT SHOWN BY THE PUBLIC RECORDS. AJ 3. TAXES OR SPECIAL ASSESSMENTS WHICH ARE NOT SHOWN AS EXISTING LIENS BY THE PUBLIC RECORDS. AK 4. ANY SERVICE, INSTALLATION, CONNECTION, MAINTENANCE, TAP, CAPACITY OR CONSTRUCTION CHARGES FOR SEWER, WATER, ELECTRICITY, OTHER UTILITIES, OR GARBAGE COLLECTION AND DISPOSAL. AL 5. RESERVATIONS AND EXCEPTIONS IN UNITED STATES PATENTS OR IN ACTS AUTHORIZING THE ISSUANCE THEREOF; INDIAN TRIBAL CODES OR REGULATIONS, INDIAN TREATY OR ABORIGINAL RIGHTS, INCLUDING EASEMENTS OR EQUITABLE SERVITUDES. AM 6. WATER RIGHTS, CLAIMS, OR TITLE TO WATER. CHICAGO TITLE INSURANCE COMPANY OWNEXTB/2-13-91/EK ,.,EIICAGO TITLE INSURANCE COMPAk f Policy No.: 432682 EXTENDED OWNER POLICY SCHEDULE B (Continued) SPECIAL EXCEPTIONS A 1. EASEMENT AND THE TERMS AND CONDITIONS THEREOF: RESERVED BY: CITY OF RENTON PURPOSE: UTILITY AREA AFFECTED: VACATED ALLEY WITHIN PARCEL A RECORDED: JUNE 18, 1973 RECORDING NUMBER: 7306180482 B SAID INSTRUMENT BEING CITY OF RENTON ORDINANCE NUMBER 2779. c 2. AGREEMENT AND THE TERMS AND CONDITIONS THEREOF: BETWEEN: CITY OF SEATTLE, A MUNICIPAL CORPORATION AND: PEOPLES NATIONAL BANK, TRUSTEE UNDER WILL OF JOHN SWANSON AND HAYDEN WILLIAMS ESTATE - RUTH WILLIAMS, JERAY HOLMES AND CAROLYN HOLMES, CO-EXECUTORS RECORDED: JANUARY 6, 1984 RECORDING NUMBER: 8401061023 REGARDING: PERMIT TO USE A PORTION OF CITY'S 66 FOOT WIDE CEDAR RIVER PIPELINE RIGHT OF WAY ADJACENT TO PARCELS B AND F D 3. RIGHT OF THE PUBLIC TO MAKE NECESSARY SLOPES FOR CUTS OR FILLS UPON SAID PREMISES IN THE REASONABLE ORIGINAL GRADING OF STREETS, AVENUES, ALLEYS, AND ROADS AS DEDICATED IN THE PLAT. E AFFECTS: PARCEL A AN 4. MEMORANDUM OF GROUND LEASE, INCLUDING THE TERMS AND CONDITIONS OF THE LEASE DISCLOSED THEREIN: LESSOR: CITY OF RENTON, A MUNICIPAL CORPORATION OF THE STATE OF WASHINGTON LESSEE: SHERIDAN PROPERTIES, L.L.C. , A WASHINGTON LIMITED LIABILITY COMPANY RECORDED: JULY 7, 1995 RECORDING NUMBER: 9507071004 ** END OF SCHEDULE B ** CHICAGO TITLE INSURANCE COMPANY OWNEXTBS/2-13-91/EK SaolfICAGO TITLE INSURANCE COMPAQ Policy No.: 4 3 2 6 8 2 EXTENDED OWNER POLICY SCHEDULE B (Continued) SPECIAL EXCEPTIONS AUTHORIZED SIGNATORY Loan Policy Endorsements: N/A Owner's Policy Endorsements: N/A CHICAGO TTTT,E INSURANCE COMPANY ,irlrr+` CHICAGO TITLE INSURANCE COMPANY 1800 COLUMBIA CENTER, 701 5TH AVE, SEATTLE, WASHINGTON 98104 IMPORTANT: This is not a Survey. It is furnished as a convenience to locate the land indicated hereon with reference to streets and other land. No liability is assumed by reason of reliance hereon. !e s. ioe 131e.14 y / o n .. .. zo o >e 3o M 2 3 u tt s iee N / zo N n • 7t Z y*'• 0•�' A M n 1 p /q M „ B ' 1 M gi°i p W y tfl•fj C : � j. 7 . 7A� A �u`6�Z 4' Z 5 �e D °r,� r y e'off n I o -x15 , • aee 25 J G 16, � a �^ "6 J�lf O ifo.ir u ti b titi/,3 (j � p I�'• _ w 34•7 iao TF !. !e 3/r;ot:.s o ,s ti•f '� titin// „ S. THIRD ST �. ec1rat— --- — . !0 3e sa 41 eo 7.} 4o 40 44 4# so oG S •/ a / x �o �f Ir 5 4 3 2 / zr o • a h l O /7 h O u t to so > s > .t. 44 1�tp — 0 IY Q J 1�� -. 3 15 24 7yefi 24 c t O >o .n 14 to ".14 ' 8 r'°4/' •'o°l! t3: y Q /�L Got31O ^ v Lj a 2/0 4; 9 >` ,N150580; •• >9 cI�°o° J ZZ" 3Ip •e� L2 yO . s � irc po 2/• /O o> 2/: 6 10't 2 a // •IIOt10 ,a�l�t0: // �p 1S0 Zo' F Pq oW v`. 7 'iii/' z sL ¢ O =m 8 • I p0 tIo 0 . 13 .�i� (, ••°°0/B= _ /3 'o}gyp v /1'8 a IDS _ _FOURTH ST. $ � e � 1 S bfb d,GY'd n.f�rly ?•tet• 10 4• 1 (II til CONDITIONS AND STIPULATIONS 1. DEFINITION OF TERMS (c)Whenever the Company shall have brought an action or interposed a The following terms when used in this policy mean: defense as required or permitted by the provisions of this policy,the Company (a)"insured":the insured named in Schedule A,and,subject to any rights may pursue any litigation to final determination by a court of competent juris- or defenses the Company would have had against the named insured,those diction and expressly reserves the right,in its sole discretion,to appeal from who succeed to the interest of the named insured by operation of law as any adverse judgment or order. distinguished from purchase including,but not limited to,heirs,distributees, (d)In all cases where this policy permits or requires the Company to prose- devisees, survivors, personal representatives, next of kin, or corporate or cute or provide for the defense of any action or proceeding,the insured shall fiduciary successors. secure to the Company the right to so prosecute or provide defense in the (b)"insured claimant":an insured claiming loss or damage. action or proceeding, and all appeals therein, and permit the Company to (c)"knowledge" or "known": actual knowledge, not constructive knowl- use, at its option, the name of the insured for this purpose. Whenever edge or notice which may be imputed to an insured by reason of the public requested by the Company,the insured,at the Company's expense,shall give records as defined in this policy or any other records which impart construc- the Company all reasonable aid (i) in any action or proceeding, securing tive notice of matters affecting the land. evidence,obtaining witnesses, prosecuting or defending the action or pro- ceeding,or effecting settlement,and(ii)in any other lawful act which in the ments affixed thereto which by law constitute real property.The term "land" opinion of the Company may be necessary or desirable to establish the title to does not include any property beyond the lines of the area described or the estate or interest as insured.d the Company h prejudiced by the failure of referred to in Schedule A, nor any right,title,interest,estate or easement in the insured u furnish the required cooperation,the Company's obligations to abutting streets,roads,avenues,alleys,lanes,ways or waterways,but noth- the insured under the policy shall terminate,including any liability or matter herein shall modify or limit the extent to which a right of access to and from tion to defend,prosecute,or continue any litigation,with regard to the matter the land is insured by this policy. or matters requiring such cooperation. (e)"mortgage": mortgage, deed of trust, trust deed, or other security 5. PROOF OF LOSS OR DAMAGE instrument. In addition to and after the notices required under Section 3 of these Condi- (f)"public records": records established under state statutes at Date of tions and Stipulations have been provided the Company, a proof of loss or Policy for the purpose of imparting constructive notice of matters relating to damage signed and sworn to by the insured claimant shall be furnished to the real property to purchasers for value and without knowledge.With respect to Company within 90 days after the insured claimant shall ascertain the facts Section 1(a)(iv)of the Exclusions From Coverage,"public records"shall also giving rise to the loss or damage.The proof of loss or damage shall describe include environmental protection liens filed in the records of the clerk of the the defect in, or lien or encumbrance on the title, or other matter insured United States district court for the district in which the land is located. against by this policy which constitutes the basis of loss or damage and shall (g)"unmarketability of the title": an alleged or apparent matter affecting state,to the extent possible,the basis of calculating the amount of the loss or the title to the land, not excluded or excepted from coverage, which would damage.If the Company is prejudiced by the failure of the insured claimant to entitle a purchaser of the estate or interest described in Schedule A to be provide the required proof of loss or damage,the Company's obligations to released from the obligation to purchase by virtue of a contractual condition the insured under the policy shall terminate,including any liability or obliga- requiring the delivery of marketable title. tion to defend,prosecute,or continue any litigation,with regard to the matter or matters requiring such proof of loss or damage. 2. CONTINUATION OF INSURANCE AFTER CONVEYANCE OF TITLE In addition,the insured claimant may reasonably be required to submit to The coverage of this policy shall continue in force as of Date of Policy in examination under oath by any authorized representative of the Company favor of an insured only so long as the insured retains an estate or interest in and shall produce for examination, inspection and copying,at such reason- the land,or holds an indebtedness secured by a purchase money mortgage able times and places as may be designated by any authorized representative given by a purchaser from the insured,or only so long as the insured shall of the Company, all records, books, ledgers, checks, correspondence and have liability by reason of covenants of warranty made by the insured in any memoranda, whether bearing a date before or after Date of Policy, which transfer or conveyance of the estate or interest.This policy shall not continue reasonably pertain to the loss or damage.Further,if requested by any autho- in force in favor of any purchaser from the insured of either(i)an estate or rized representative of the Company, the insured claimant shall grant its interest in the land, or(ii) an indebtedness secured by a purchase money permission, in writing,for any authorized representative of the Company to mortgage given to the insured. examine, inspect and copy all records, books, ledgers, checks, correspon- dence and memoranda in the custody or control of a third party,which reason- 3. NOTICE OF CLAIM TO BE GIVEN BY INSURED CLAIMANT ably pertain to the loss or damage.All information designated as confidential The insured shall notify the Company promptly in writing(i)in case of any by the insured claimant provided to the Company pursuant to this Section litigation as set forth in Section 4(a)below,(ii)in case knowledge shall come to shall not be disclosed to others unless, in the reasonable judgment of the an insured hereunder of any claim of title or interest which is adverse to the Company, it is necessary in the administration of the claim. Failure of the title to the estate or interest,as insured,and which might cause loss or dam- insured claimant to submit for examination under oath,produce other reason- age for which the Company may be liable by virtue of this policy,or(iii)if title to ably requested information or grant permission to secure reasonably neces- the estate or interest,as insured,is rejected as unmarketable.If prompt notice sary information from third parties as required in this paragraph shall termi- shall not be given to the Company,then as to the insured all liability of the nate any liability of the Company under this policy as to that claim. Company shall terminate with regard to the matter or matters for which prompt notice is required;provided,however,that failure to notify the Company shall 6. OPTIONS TO PAY OR OTHERWISE SETTLE CLAIMS;TERMINATION in no case prejudice the rights of any insured under this policy unless the OF LIABILITY Company shall be prejudiced by the failure and then only to the extent of the In case of a claim under this policy,the Company shall have the following prejudice. additional options: 4. DEFENSE AND PROSECUTION OF ACTIONS; DUTY OF INSURED (a)To Pay or Tender Payment of the Amount of Insurance. CLAIMANT TO COOPERATE To pay or tender payment of the amount of insurance under this policy (a)Upon written request by the insured and subject to the options con- together with any costs,attorneys'fees and expenses incurred by the insured tained in Section 6 of these Conditions and Stipulations,the Company,at its claimant,which were authorized by the Company,up to the time of payment or own cost and without unreasonable delay,shall provide for the defense of an tender of payment and which the Company is obligated to pay. insured in litigation in which any third party asserts a claim adverse to the title Upon the exercise bythe Company of this option,all liability and obligations or interest as insured,but only as to those stated causes of action alleging a to the insured under this policy,other than to make the payment required,shall defect,lien or encumbrance or other matter insured against by this policy.The terminate, including any liability or obligation to defend, prosecute, or con- Company shall have the right to select counsel of its choice(subject to the tinue any litigation, and the policy shall be surrendered to the Company for right of the insured to object for reasonable cause)to represent the insured as cancellation. to those stated causes of action and shall not be liable for and will not pay the (b)To Pay or Otherwise Settle With Parties Other than the Insured or fees of any other counsel. The Company will not pay any fees, costs or With the Insured Claimant. expenses incurred by the insured in the defense of those causes of action (i)to pay or otherwise settle with other parties for or in the name of an which allege matters not insured against by this policy. insured claimant any claim insured against under this policy,together with any (b)The Company shall have the right, at its own cost, to institute and costs,attorneys'fees and expenses incurred by the insured claimant which prosecute any action or proceeding or to do any other act which in its opinion were authorized by the Company up to the time of payment and which the may be necessary or desirable to establish the title to the estate or interest,as Company is obligated to pay;or insured,or to prevent or reduce loss or damage to the insured.The Company (ii)to pay or otherwise settle with the insured claimant the loss or damage may take any appropriate action under the terms of this policy,whether or not provided for under this policy,together with any costs, attorneys' fees and it shall be liable hereunder,and shall not thereby concede liability or waive any expenses incurred by the insured claimant which were authorized by the provision of this policy. If the Company shall exercise its rights under this Company up to the time of payment and which the Company is obligated to paragraph.it shall do so diligently. pay. b6ZE-L0909 slow`o6eoILIO (Z6-L l-0 L'Aaa)99Z9'ON wJo=1 JaPJoay 19WIS)IJEIO 41JON LLL luawlJedaCl sw!elo Auedwo0 eoueansul all!1 o6e3!40 -Auedwoo :ol Jo aolyo bulnss!ayl le AuedwoO eql of possaJppe aq IIEys Pula ayj;o uolloe;s!les 941 of pe4s!uJn;eq(lugs uollorulsep Jo ssol;o;ooJd aseo �(ollod slyl;o Jagwnu ayl apnlou!IIEys �(uedwoo ayj payslwn;aq of paJlnbaJ 4314M u! 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(q palsenbei 11'panss!uaaq jou Ao!lod s!yl pey w!elo ayl of loadsaJ u!AliedoJd :10 Jo uosJad Aue Jsule6e pey aney pinom luewlelo paJnsui ayj yolym se!pawaJ !seal ayj paaoxa lou pegs Aopodslyl Japun Auedwoo ayi j0 Al!I!glall ayi(e) pue sjy6u Ile of pell!jua aq puE of pale6oJgns aq hays Auedwoo ayi 'paquosap u!aJay luelxe •luewlelo paJnsui ayl;o a41 01 Aluo puE Ao!lod s!yl Aq isu!e6e paJnsui sJallew;o uoseaJ Aq abewep joe Rue Aq peloolleun Auedwoo ayl u!jsan IIEys uo!lu6aJgns jo jy6u IIe`Ao!lod Jo ssol pejejjns sey oym luewlelo paJnsu!ayj Aq peiinou!Jo peulelsns aft slyl Japun wlElo a pled puE PalJlas aney lleys Auedwoo eql JanauayM -wap Jo ssol AJelauow lenjoe jsu!ebe Ai!uwapul to joeJluoo e s!Ao!lod s!yi •uolle6agnS to ly6!a s,J(uedwoa a41(e) 30NVHnSN100 aNV A11I1SVII d0 1N31X3`NOIIVNIW83130 'L 1N3W3I113S HO 1N3WAVd NOdn NOIIVJOliens '£L •uolle6ll!I Rue anulluoo Jo alno -asoJd 'puelep of uolle6llgo Jo�(l!l!gell Aue 6u!pnlou! `aleulwJal pegs 'apew 'JaljeaJayl s(ep 0£u!yl!m alquAud aq Vet's aq of paJlnbaJ sluaw(ed ayj ueyl Jaylo`a6Ewep Jo ssol paw!elo ayj Jol Aollod a6ewep Jo ssol ayj 'suo!lelndlls pue suoll!puoo asayl yl!m aouepJ000e u! slyl Japun paJnsui eql of suolle6llgo s,AuedwoO ayj`(!!)Jo(!)(q)sydeJ6eJed pax!;Alal!ullap uaaq sey abewup Jo ssol jo juajxe ayj pue Al!l!ge!I uayM(q) u!Jol pap!noJd suolldo ayj;o Jaylla;o Auedwoo ayj Aq asloJaxe ayl uodfl CITYF RENTON Office of the City Attorney Earl Clymer, Mayor Lawrence J.Warren CITY OF RENTON MEMORANDUM JUL 2 4 1995 REL;r-iVED CITY CLERK'S OFFICE To: Marilyn J. Petersen, City Clerk From: Anne Santos, Legal Assistant to Lawrence J. Warren, City Attorney Date: July 24, 1995 Subject: City of Renton- Sheridan Property I am enclosing the original Title Policy on the Sheridan/Good Chevrolet property for the City's file. A copy has been retained for our records. Anne Santos LJW:as. Enclosure A8:115.44. Post Office Box 626 - 1!"00 S 2nd Street - Renton, Washington 98057 - (206)255-8678 MThis nanw rnniains fin%rarvrAPA malarial 25%nnsf rnnsumar GROUND LEASE (WITH OPTION TO PURCHASE) THIS GROUND LEASE, made and entered into on the Z day of 19�,�by and between The City of Renton, a municipal corporation of the State o Washington ("Landlord"), and Sheridan Properties, L.L.C., a Washington limited liability company ("Tenant"). Landlord hereby leases and demises to Tenant, and Tenant hereby leases from Landlord, upon the terms and conditions set forth herein, the real property situated in the City of Renton, County of King, State of Washington, and more particularly described in Schedule 1 attached ]hereto and by this reference incorporated herein, together with all buildings, structures and other improvements now or hereafter located thereon and the appurtenances thereof(the "Premises"). In consideration of the foregoing and of the representations, warranties, covenants and conditions set forth herein, Landlord and Tenant further understand and agree that: Section 1. Term A. The term of this lease shall commence upon the date of its execution and shall end (unless extended pursuant to Section 1.13 below) at 12:01 a.m. on the second (2nd) anniversary of the commencement date. B. Provided Tenant shall not then be in default hereunder, Tenant shall have the option to extend the term of this lease for five (5) successive terms of one (1) year each upon the same terms and conditions herein contained upon delivery by Tenant to Landlord of its written notice of such election at least ninety (90) days prior to the expiration of the term hereof or the expiration of first, second, third, or fourth renewal term, as the case may be. C. Notwithstanding the foregoing, Tenant may terminate this lease at any time following issuance of a certificate of occupancy allowing Tenant (or Tenant's affiliates) to occupy the "automall property" (as defined in Section 12) upon five (5) days written notice to Landlord. Section 2. Rent Tenant covenants and agrees to pay, as rent for said Premises, a monthly rent of Eight Thousand and 00/100 Dollars ($8,000.00) in lawful money of the United GROUND LEASE PAGE 1 (00000-0000/BA951860.0201 7/6/95 5:08 pm States in advance on the first day of each calendar- month of the lease term, to Landlord or to such other party as Landlord may hereafter designate, commencing on the first day of the first full calendar month follov.-ina the commencement of the term of this lease. In the event the tern of this lease c`m►nences on a date other than the first day of the month, the minimum monthly rental for the last fractional month of the term of this lease shall be the monthly rental rate prorated in the proportion that the number of days of Tenant's tenancy_ during said fractional month bears to thirty (30) days. Section 3. Taxes and Assessments In addition to the rent set forth in Section 2 above, Tenant shall pay all of the real and personal property taxes and assessments levied or assessed against the Premises and improvements thereon for any period all of which is included in the lease term and also Tenant's pro rata share of all such taxes and assessments levied or assessed thereon for any period. only part of which is included in the lease term. This paragraph shall not be deemed or construed to require Tenant to pay or discharge any tax which may be levied by any governmental authority upon the income, profits or business of Landlord, or any personal property taxes, franchise, inheritance or estate taxes, or taxes upon inheritance or right of succession which may be levied against any estate or interest of Landlord, even though such taxes shall become a lien against the Premises. Landlord agrees that Tenant shall have the right, at Tenant's sole cost and expense, to contest the legality or validity of any of the taxes, assessments or other public charges which are to be paid by Tenant pursuant to the foregoing provisions, and in the event of any such contest, the failure on the part of Tenant to pay any such tax, assessment or other- charge prior to the delinquency date thereof shall not constitute a default hereunder. Tenant, upon final determination of such contest, shall immediately pay and discharge any judgment rendered against it, together with all costs and charges incidental thereto. Landlord further agrees, at the request of Tenant, to execute, or join in the execution of, any instrument or documents necessary in connection with any such contest, but at no expense to Landlord. Section 4. Charges For Utilities Tenant shall pay prior to delinquency, all charges for utilities used on the Premises during the term of this lease. Landlord shall, at Tenant's reasonable request, grant to any utility company so requiring it such easements, rights-of-way or other rights as Tenant may deem necessary for the construction and use of the improvements contemplated herein. GROUND LEASE PAGE 2 (00000-0000/BA951860.020( 7/6/95 5:08 pm Section 5. Indemnity Tenant agrees to defend (including Landlord's reasonable attorneys' fees and costs), indemnify and hold Landlord harmless from and aygainst any and all claims for damages due to injuries to or death of persons, or damage to property, while in, on, or about the Premises, to the extent such act or injrrr-,- is due to or caused by the fault or negligence of Tenant or Tenant's agents. Tenant shall, at Tenant's expense, obtain and keep in force during the term of this Lease a policy of comprehensive public liability insurance insuring Landlord and Tenant against any liability arising out of the Tenant's use, occupancy, or maintenance of the Premises. Such insurance shall be in amount not less than $1,000,000 Combined Single Limit with respect to injuries to or death of persons, and/or destruction of or damage to property. Tenant may provide this insurance under a blanket policy provided said insurance shall have a landlord's protective liability endorsement attached thereto. Tenant shall deliy.r to Landlord certificates evidencing the existence and amounts of such insurance with loss payable clauses satisfactory to Landlord. No policy shall be cancelable or subje::t to reduction of coverage without prior written consent of Landlord. All such policies shall be written as primary policies not contributing with and not only in excess of coverage which Landlord may cavy. Section 6. Improvements, Alterations, and Use Tenant accepts the Premises in their current condition, AS IS, WHERE IS, WITH ALL FAULTS AND DEFECTS. Tenant. at its sole cost and expense, shall have complete freedom to clear, ygrade, constrict. operate, use, maintain, repair, remove, replace, or otherwise act with respect to any facilities and any building or buildings, signs or any other- improvements presently situated on the Premises, subject only to the obligations that may be imposed upon Tenant under the terms of this lease. During the term of the lease, Tenant shall have the right, at its sole cost and expense, to make whatever- further changes it may deem necessary from time to time for the use of the Premises. For tax purposes, all such buildings, improvements, alterations, or repairs thereto shall be the sole property of Tenant during the lease term. Upon expiration of this lease term or any extensions thereof(other- than by Tenant's purchase of the Premises), all building or improvements made to the Premises by Tenant during the term of this lease shall be removed by Tenant and the Premises shall be restored to the condition existing at the commencement of this lease in compliance with any then current and applicable Environmental Laws (as defined in Section 8), normal wear and tear excepted. GROUND LEASE PAGE 3 [00000-0000/BA951860.0201 7/6/95 5:08 pm Section 7. Fixtures Tenant may, at its own cost and expense, place or install or cause to be placed or installed such electrical equipment and appurtenances, furniture and fixtures in and upon the Premises as Tenant in its sole discretion shall deem necessary or appropriate for the purpose of carrying on business upon the Premises. Tenant may, at its own expense thereafter at any time substitute, replace or cause to be substituted or replaced with items of comparable quality any or all of said signs, equipment, furniture and fixtures. All of said signs, equipment, furniture and fixtures shall, for the purpose of this lease, be treated as personal property, no matter- how affixed, and at no time shall Landlord have any rights therein. Tenant shall repair any damage caused by Tenant's removal of such items and shall return the Premises to its condition prior to the removal. All utilities, lighting and other site improvernents shall remain at least equal to their- condition at the commencement of this lease, any removal of fixtures notwithstanding. Section 8. 1laintenance, Repair and Environmental Compliance Landlord shall not be called upon to make any improvements or repairs in or upon the Premises during the Lease term. Tenant covenants and agrees to pay promptly when due all claims for work and materials furnished in connection with its construction or maintenance of improvements, and shall not permit or suffer any liens or encumbrances to attach to the Premises, and shall indemnify Landlord against loss therefrom. Tenant shall: (a) not place, hold, locate or dispose of any Environmental Contaminant on, under, or at the Premises in violation of any Environmental Laws: and (b) conduct its operations on or about the Premises in compliance with all Environmental Laws. For purposes of this lease, "Environmental Contaminant" means any harmful, dangerous, hazardous or toxic substance, material, waste, contaminant or pollutant, including, but not limited to, those substances, materials, wastes, contaminants or pollutants listed in the United States Department of Transportation Hazardous Materials Table (49 C.F.R. § 172.101) or by the United States Environmental Protection Agency as hazardous substances (40 C.F.R. Part 302 and amendments thereto), petroleum products and their derivatives, and such other substances, materials, wastes, contaminants or pollutants as are or may become regulated or GROUND LEASE PAGE 100000-0000/BA951860.0201 7/6/95 5:08 pm p 'fir►' `"� subject to cleanup authority under any Environmental Laws, including, without limitation, the State Model Toxic Control Act. For purposes of this lease. "Environmental Laws" means any and all state, federal, and local statutes, regulations and ordinances relating to the protection of human health or the environment. In addition, in particular. Tenant represents and warrants to the Landlord that Tenant's use of the premises will not involve the release or disposal of any hazardous substance as defined by Sections 307(x) and 311(b)(2)(A) of the federal Clean Water Act, Section 3001 of the Federal Resource Conservation and Recovery Act, Section 7 of the federal Toxic Substances Control Act, Section 102 of the federal Comprehensive Environmental Response Compensation and Liability Act, or similar provisions of Washington law. (i) Tenant shall use a high degree of care that no hazardous substance is released or disposed of on the Premises during the term of this lease by Tenant, its agents or assigns, or is introduced to the Premises by the act of any third party. (ii) Landlord shall have no responsibility to the Tenant for remedial action under RCW 70. 105D., in the event of such release of or disposition of any such hazardous substance on, in, or at the Premises during the term. (iii) Tenant shall indemnify and hold harmless the Landlord from any obligation or expense, including fees incurred by the Landlord for attorneys, consultants, engineers, laboratory testing charges, personal injury and/or natural resource damage claims, arising by reason of the release or disposition of any such hazardous substance upon the Premises during the term, including remedial action under- RCW 70. 1051), to the extent due to the act, omission, neglect Or fault of Tenant, its agents or assigns. (iv) Tenant grants unto Landlord the right to enter the Premises for the purpose of monitoring Tenant's activities and/or- to conduct tests for the purpose of determining whether hazardous substances are present or have been released upon the Premises, or to take remedial action, if deemed necessary by Landlord. Except in cases of emergency, such right of entry shall be exercised during ordinary business hours and upon reasonable prior notice given to Tenant. (v) Tenant agrees to notify Landlord immediately in the event that any hazardous substances should at any time be determined to be released upon the Premises, or that Tenant shall receive any notice of an inspection, GROUND LEASE PAGE 5 [00000-0000/BA951860.020) 7/6/95 5:08 pm i regulatory order, fine or other penalty impO sed by any authority relating to the presence or release of hazardous substances upon the Premises. (vi) Upon termination of this lease. Tenant agrees, if requested by Landlord, to conduct at its expense a Phase I environmental audit to determine whether hazardous substances have been released or disposal of upon the Premises as a result of Tenant's tenancy. Furthermore, upon termination of this lease, Tenant aVgrees, at the request of Landlord, to remove from the Premises any structures, including-, but not limited to. underground storage tanks, which are contaminated with, or have been used in connection with, hazardous substances during Tenant's tenancy. (vii) Tenant agrees to promptly remedy any hazardous waste contamination discovered to exist at any time upon the Premises as a result of a release or disposal of hazardous substances during the term of this lease, and to pay to Landlord any damages incurred by Landlord in connection with the remediation of any hazardous substance contamination discovered, and expenses for ongoing mitigation or monitoring of the Premises. Such expenses shall, at the option of Landlord, be considered to be additional rental to be paid by Tenant to Landlord. (viii) Notwithstanding the right of entry for inspection and testing purposes granted above, Landlord shall have no obligation to perform any remedial or monitoring action relating to the presence of or release of hazardous substances upon the Premises. (ix) The representations, covenants and obligations of this paragraph shaH survive the termination of this lease. Section 9. Damage or Destruction In the event that any of the improvements on the Premises are damaged, destroyed or lost as the result of any casualty which is fully insured as a result of any fire and extended coverage insurance maintained by Tenant, Tenant shall forthwith repair, restore and reconstruct said damaged or destroyed improvements with the proceeds of said insurance. There shall be no abatement of rent during the repairs, restoration or reconstruction contemplated by this subparagraph. Section 10. Condemnation A. The term "condemnation" as used in the lease shall mean the exercise of the power of eminent domain by any person, entity, body, agency or authority (including, without limitation, Tenant), or private purchase in lieu of eminent domain, GROUND LEASE PAGE 6 100000-0000/BA951860.0201 7/6/95 5:08 pm vrr and the date of condemnation shall mean the day on which the actual physical taking of possession pursuant to the exer.ise of said post er of eminent domain, or private purchase in lieu thereof, occurs, or the date of settlement or compromise of the claims of the parties thereto during the pendency of the exercise of said power, whichever first occurs, and property is deemed "condemned" on said date. B. In the event only a part of the Premises is so taken and the remaining part thereof, in Tenant's opinion. remains reasonably suitable for Tenant's continued use of the property as an automobile dealership or such other occupancy and use as Tenant may then be making of the Premises, this lease shall, as to the part so taken, terminate on the date of condemnation, and the monthly rent shall thereupon be reduced in the same proportion that the number of square feet of the Premises so taken bears to the original number of square feet of the Premises. C. Landlord and Tenant shall each be entitled to receive and retain such separate awards and portions of lump sum awards including severance damages, if any, as may be allocated to their respective interests in any condemnation proceedings. Tenant shall also be entitled to any award made to it for depreciation to or loss of and cost of removal of furniture, fixtures, equipment, inventory, buildings and other improvernents. Termination of this lease shall not affect the rights of the respective parties to such awards. D. Each party agrees to execute and deliver to the other all instruments that may be required to effectuate the provisions of this paragraph. Section 11. Assignment and Subletting Tennant shall have the i-Wht to assign this lease and to sublet all or any part of the Premises upon giving Landlord fifteen (1 5) days' written notice of its intention to do so. Provided, however, (i.) any assignment or sublease other than to Good Properties, Inc., Good Chevrolet, an affiliate of them or other entity controlled by Howard and Diane Sheridan or their children shall require Landlord's written approval, which shall not be unreasonably withheld. and (ii) that any such assignment or subletting shall not relieve Tenant of any of its obligations under this lease unless Landlord shall agree in writing to relieve Tenant of said obligations. GROUND LEASE PAGE 7 100000-0000/BA951860.0201 7/6/95 5:08 pm Section 12. Tenant's Option to Purchase In the event Tenant determines it will not. prior to expiration of the term, relocate Tenant's automobile dealership to the "automall property," more particularly described as follows: Lots 10 through 13, Block 27, C. D. Hillman's Earlington Gardens Addition, Division No. 1 according to the plat recorded in Volume 17 of Plats, page 7, in King County Washington ("Parcel 1"); Lots 1, 2, 3, 4, 5, 6, 7, 8, and 9, Block 27. C. D. Hillman's Earlington Gardens Addition, Division No. I according, to the plat recorded in Volume 17 of Plats, page 7, in King County, Washington ("Parcel 2"); Lots 50 through 57, Block 27, Hillman's Earlington Gardens 91 situated in the NW 1/4 19-23-05. Also known as King County tax Assessor's 334040-4641, 4655, and 4665 ("Parcel 3"); Lots 10, 11 and 12, 51, 52, and 53, Block 26, C.D. Hillman's Earlington Gardens Addition, Division No. 1, according„ to the plat thereof recorded in Volume 17 of Plats, page 74, Records of King County, Washington; except that portion of Lots 12 and 51 deeded to Washington State for highway purposes under Recording No. 5428429; together with that portion of vacated alley adjoining as vacated by the City of Renton Ordinance No. 3324 which attached thereto by operation of law. Situate in the County of King, State of Washington ("Parcel 4"); LoLs 1 through 9 and 54 throtrggh 62 of Hillman's Earlington Gardens Division 41 of plats, Block 26, as recorded in Volume 17 of plats, page 74 ("Parcel 5"); Lots 10, 11, and 12, Block 22, C. D. Hillman's Earlington Gardens Addition to the City of Seattle, Division No. A, according to the plat thereof recorded in Volume 17 of Plats, page 74, Records of King County, Washington; except that portion of said Lot 12 conveyed to the State of Washington for highway purposes, by Deed Hearing Recording No. 1548719. Situate in the County of King, State of Washington ("Parcel 6"); Lots 3 through 9 and Lots 46 through 47 of Hillman's Earlington Gardens Division 9 1 of plats, Block 22, as recorded in Volume 17 of Plats, page 74, except that portion of Lots 46 and 47 conveyed to the GROUND LEASE PAGE 8 [00000-0000/BA951860.0201 7/6/95 5:08 pm 'vrr° vrr+" State of Washington for road by instrument recorded under King County Auditor's File No. 5441280 ("Parcel 7),- Lots ");Lots 14 and 15, Block 22. C. D. Hillman's Earlington Gardens Addition to the City of Seattle, Division No. A. accordim, to the plat thereof recorded in Volume 17 of Plats, page 74, Records of King County, Washington; except that portion of thereof conveyed to the State of Washington for Primary State HiV`hway No. 1, JCT SSH No. 2M to JCT PSH No. 2, Renton, by instrument recorded under Auditor's file No. 5418720 ("Parcel 7A"); Lots 1 and 2 of Hillman's Earlington Gardens Division 41 of plats, Block 22, as recorded in Volume 17 of Plats, page 74 ("Parcel 8"), records of King County, Washington, subject to encumbrances and interests of record, together with the west half of:'Maple Avenue SW between Southwest 13th Street and Interstate 405 and Southwest 13th Street between Maple Avenue SW and Lind Avenue, then Tenant shall, upon expiration of the tern (or- such earlier date as Tenant shall specify), purchase the Premises from Landlord for Nine Hundred Thousand and 00/100 Dollars ($900,000.00) (the "Option Purchase Price"). Tenant shall exercise this option by placing notice of its intention to do so in the United States mail, registered, and addressed to Landlord's last known address. Landlord shall, within fifteen (15) days of receipt of the same, deposit in escrow with a title insurance company authorized to do business in King County, Washington (with notice to Tenant), (i) a good and sufficient warranty deed to said real property conveying the same to Tenant free and clear of any and all encumbrances, save and except encumbrances created on the face of Landlord's original deed from Tenant, or by reason of this lease agreement or any acts of Tenant committed subsequent to the date of this lease, (ii) a properly prepared real estate excise tax affidavit, signed by Landlord, and (iii) escrow instructions to deliver said deed to Tenant, together with a policy of title insurance insuring Tenant's title (the premium for said title insurance to be paid by Landlord), upon receipt of the Option Purchase Price in cash. Tenant shall pay recording fees, Landlord shall pay real estate excise tax, if any, and real property taxes shall be prorated as of the date the deed is delivered (provided that Landlord's pre-deed-delivery tax obligations under this Section 12 do not diminish or alter any of Tenant's obligations under- Section 3 of this lease). The transaction shall be closed and the funds paid to Landlord within one hundred twenty (120) days after the deposit of the foregoing deed in escrow by Landlord. GROUND LEASE PAGE 9 100000-0000/BA951860.0201 7/6/95 5:08 pm Section 13. Landlord's/Tenant's Rights Upon Default Any payment not made when due hereunder shall bear, interest at the rate of twelve percent ( 12%) per annum until paid. Mor.-over, should default be made in the payment of any rent or other amount payable hereunder by Tenant when due, or should Tenant or its officers, agents or employees violate any of the other terms, conditions or provisions of this lease, Landlord may, at its option, at any time after expiration of thirty (30) days following the delivery to Tenant of a written notice specifying the default or defaults by Tenant then existing hereunder, and Tenant's failure to cure same within thirty (30) days of notice, reenter and take possession of the Premises, remove Tenant's property therefrom. relet said premises or any part thereof on such terms, conditions and rentals as Landlord may deem proper, and, at Landlord's option, either terminate and cancel this lease, or apply the proceeds that may be obtained from said reletting, after deduction of costs and expenses, to the rent reserved under this lease, and hold Tenant liable for any balance of rent reserved hereunder which may remain unsatisfied and unpaid. Should Landlord breach any covenant, warranty, term or obligation under this lease on Landlord's part to be performed, Tenant may at its option, at any time after expiration of thirty (30) days following the delivery to Landlord of a written notice specifying the default or defaults by Landlord then existing hereunder, and Landlord's failure to cure same within thirty (30) days of notice, (i) terminate this lease, whereupon all advance rental here under shall be returned forthwith to Tenant, and all obligations of Tenant shall terminate forthwith or (ii) pursue any other-remedy available to Tenant at law or in equity, including. without limitation, specific performance. Section 14. Warranty of Clear Title Landlord covenants and warrants that Landlord has full right to lease the Premises to Tenant. Landlord further covenants that it will put Tenant into complete and exclusive possession of the Premises, free from all orders and notices of violations of any public authority, and free from all tenancies and occupancies and violations and assessments of any taxes or other- obligations noted or existing in or filed with any federal, state, county, municipal or other authority including assessments of any local improvement district, and that the Premises are free of all encumbrances save and except encumbrances created on the face of Landlord's original deed from Howard L. Sheridan and Diane J. Sheridan, or by reason of the Real Estate Purchase and Sale Agreement between Landlord and Howard L. Sheridan and Diane J. Sheridan dated May 9, 1995, or any acts of Tenant. Landlord agrees that Tenant may seek to obtain from time to time any zoning changes, use permits, variances and other federal, state or local permits, licenses, authorizations and GROUND LEASE PAGE 10 (00000-0000/BA951860.0201 7/6/95 5:08 pm approvals with respect to the Premises which Tenant may desire. In performing this agreement, provided Tenant bears associated cost_. Landlord will permit any required petition to be submitted in Landlord's name. Hoy%ever, nothing in this zoning agreement binds Landlord to exercise its police power to approve a zoning change or issue a permit or approval requested by Tenant. Section 15. Holding Over In the event Tenant shall continue to occupy the Premises after the expiration of the term hereof, such holding over shall be deemed to have created a month-to- month tenancy, subject to all the terns and conditions of this lease, at a monthly rent (payable on the first day of each calendar month) of Ten Thousand and 00/100 Dollars ($10,000.00). Section 16. Notices All notices and other communication required under this lease shall be in writing and delivered either personally or by depositing the same, postage prepaid, in the United States mail addressed to the party hereto to whom the same is directed at the following address: To Tenant: Sheridan Properties, L.L.C. c/o Good Chevrolet P.O. Box 935 3rd and Burnett Renton, WA 98057 Attn: Howard Sheridan To Landlord: City of Renton 200 Mill Avenue South Renton. SVA 98057 Atm: Sue Carlson Either-party hereto may from time to tirne change its mailing address by written notice to the other. Section 17. Waiver The waiver by either party hereto of any breach of any term, covenant or conditions of this lease to be performed by the other, shall not be deemed to be a waiver of any subsequent breach thereof. GROUND LEASE PAGE 11 (00000-0000/BA951860.0201 7/6/95 5:08 pm Section 18. Successors The terms, covenants and conditions her.-in contained shall inure to the benefit of the heirs, administrators, executors. successors and assigns of each of the parties hereto. Section 19. Right to Mortgage Tenant shall at all times have the right to encumber by mortgage or deed of trust, or other proper instrument in the nature thereof, as security for any actual bona fide debt, its leasehold estate hereby created, or any portion thereof, together with its leasehold right and interest in and to all buildings and improvements and its interest in any equipment located on the Premises. If at any time after the execution and recordation in the proper records of the County in which the Premises are located of any such mortgage or deed of trust, the mortgagee or trustee therein shall elect to notify Landlord in writing that such mortgage or deed of trust has been executed and delivered by Tenant and shall furnish Landlord with the address to which said mortgagee or trustee desires copies of notices to be mailed, then Landlord hereby agrees that it will thereafter mail to such mortgagee or trustee at the address so ygiven a duplicate copy of any and all notices in writing which Landlord may from time to time give or serve upon Tenant under and pursuant to the terms and provisions of this lease. Such mortgagee or trustee may, at its option, at any time before the rights of Tenant shall have been forfeited to Landlord as herein provided, pay any of the rents due hereunder, or do any other act or thing required of or permitted to Tenant by the terms of thas lease, to prevent the forfeiture or termination of this lease, and all payments also made and all things so done and performed by or for any such mortgagee or trustee shall be as effective to prevent a forfeiture of the rights of Tenant hereunder as the same would have been if done and performed by Tenant. No such mortgagee or trustee of the rights and interest of Tenant hereunder shall be or become liable to Landlord as an assignee of this lease or otherwise unless it expressly assumes the liability of Tenant and no assumption shall be inferred from or shall be the result of foreclosure or other appropriate proceedings in the nature thereof or shall be the result of any other action or remedy provided for by such mortgage or deed of trust. Section 20. Quiet Enjoyment If and so long as Tenant shall pay the rent reserved under this lease whenever the same shall become due and payable and shall observe all of the covenants and GROUND LEASE PAGE 12 100000-0000/BA951860.0201 7/6/95 5:08 pm fir►' agreements required by it to be observed &11-11`12 the teen of this lease and shall perforin all of its other obligations hereunder. Landlord agrees that it will not interfere with the peaceful and quiet occupation and enjoyment of the Premises by Tenant, which Occupation and enjoyment shall be without hindrance. ejection or molestation by Landlord or anyone claiming by, through or under Landlord. Section 21. Commission Each of Landlord and Tenant warrants that. to the best of its knowledge, no real estate sales commission is or will become due and payable as a result of the successful conclusion of this lease. Section 22. Memorandum of Lease Landlord and Tenant shall execute and acknowled(,e in recordable form a short form memorandum of Lease consistent with the terms of this Lease, sufficient to give notice of the leasehold estate, option to purchase and right of first refusal hereby created, which short form shall be recorded at Tenant's expense. IN WITNESS WHEREOF, Landlord and Tenant have each caused this lease to be executed as of the day and year first above written. Landlord: The Qtv of Renton By Earl Clvmer Its 1\Iavor Tenant: Sheridan Properties, L.L.C. By o yard L. She-idan Its Manaaer GROUND LEASE PAGE 13 100000-0000/BA951860.0201 7/6/95 5:08 pm STATE OF WASHINGTON ) ) ss. COUNTY OF KING ) THIS IS TO CERTIFY that on this I� Jay of 1995, before me, the undersigned, a notary public in and for the state of Wa hin(11,ton, duly commissioned and sworn, personally appeared EARL CLYMER, to me known to be the Mayor of the City of Renton, a municipal corporation that executed the within and foregoing instrument and acknowledyaed the said instrument to be the free and voluntary act and deed of said City for the uses and purposes therein mentioned, and on oath stated that he was authorized to execute said instrument, and that the seal affixed, if any, is the corporate seal of said Citv. IN WITNESS WHEREOF, I have hereunto set my hand and affixed my official seal the day and year in this certificate above wrinen. atm Print Name: L-/-)Z Notary Public inanthe State of Washington, residin` at My commission expires: /0—/5-97 STATE OF WASHINGTON ) ss. COUNTY OF KING ) On this \ day of - 1995, before me, the undersigned, a Notary ITublic in and for the ate of` ashington, duly commissioned and sworn, personally appeared Howard L. Sheridan to me known to be the person who signed as Manager of Sheridan Properties, L.L.C., the limited liability company that executed the within and foregoing instrument, and acknowledged said instrument to be the free and voluntary act and deed of said company for the uses and purposes therein mentioned, and on oath stated that he was duly qualified and acting as said manager of the company, that he was authorized to execute said instrument and that the seal affixed, if any, is the seal of said company. GROUND LEASE PAGE 14 100000-0000/BA951860.0201 7/6/95 5:08 pm rt✓ Soso, WITNESS my hand and official seal hereto affixed the day and year in this certificate above written. Prnt Name: Notary Piib in and for the tate of Washington, residinu, at My commission expires: GROUND LEASE PAGE 15 [00000-0000/BA951860.0201 7/6/95 5:08 pm Schedule 1 ' PARCEL A: LOTS 6 AND 7, BLOCK 1, SMITHER'S SIXTH ADDITION TO THE TOWN OF RENTON, ACCORDING TO THE PLAT THEREOF, RECORDED IN VOLUME 26 OF PLATS, PAGE(S) 47, IN KING COUNTY, WASHINGTON; TOGETHER WITH THAT PORTION OF THE ALLEY ADJACENT TO SAID LOT 6 VACATED BY CITY OF RENTON ORDINANCE NUMBER 2779, WHICH ATTACHED BY OPERATION OF LAW. PARCEL B: LOT 1, BLOCK 1, MOTOR LINE ADDITION TO RENTON, ACCORDING TO THE PLAT THEREOF, RECORDED IN VOLUME 9 OF PLATS, PAGE(S) 50, IN KING COUNTY, WASHINGTON. PARCEL C: LOTS 2 THROUGH 5, INCLUSIVE, BLOCK 1, MOTOR LINE ADDITION TO RENTON, ACCORDING TO THE PLAT THEREOF, RECORDED IN VOLUME 9 OF PLATS, PAGE(S) 50, IN KING COUNTY, WASHINGTON. PARCEL D: LOT 14, BLOCK 2, MOTOR LINE ADDITION TO RENTON, ACCORDING TO THE PLAT THEREOF, RECORDED IN VOLUME 9 OF PLATS, PAGE(S) 50, IN KING COUNTY, WASHINGTON; EXCEPT THE EAST 6 FEET THEREOF CONVEYED TO THE CITY OF RENTON FOR STREET PURPOSES BY DEED RECORDED UNDER RECORDING NUMBER 910189. PARCEL E: LOT 15, BLOCK 2, MOTOR LINE ADDITION TO RENTON, ACCORDING TO THE PLAT THEREOF, RECORDED IN VOLUME 9 OF PLATS, PAGE(S) 50, IN KING COUNTY, WASHINGTON; EXCEPT THE EAST 6 FEET THEREOF CONVEYED TO THE CITY OF RENTON FOR STREET PURPOSES BY DEED RECORDED UNDER RECORDING NUMBER 910200. PARCEL F: LOT 1, BLOCK 2, MOTOR LINE ADDITION TO RENTON, ACCORDING TO THE PLAT THEREOF, RECORDED IN VOLUME 9 OF PLATS, PAGE(S) 50, IN KING COUNTY, WASHINGTON, MORE PARTICULARLY DESCRIBED AS THAT PART OF BLOCK 2, SAID MOTOR LINE ADDITION TO RENTON, LYING SOUTHERLY OF A LINE WHICH IS PARALLEL WITH AND 66 FEET SOUTHERLY FROM THE SOUTHERLY LINE OF LOTS 2 AND 18 OF SAID BLACK 2. PARCEL G: LOTS 16 AND 17, BLOCK 33, SMITHER'S FIRST ADDITION TO THE TOWN OF RENTON, ACCORDING TO THE PLAT THEREOF, RECORDED IN VOLUME 9 OF PLATS, PAGES) 17, IN KING COUNTY, WASHINGTON; EXCEPT THAT PORTION OF SAID LAT 16 CONVEYED TO THE CITY OF RENTON FOR STREET, ALLEY AND ANY OTHER PUBLIC USES AND PURPOSES BY DEED RECORDED UNDER RECORDING NUMBER 7401170345. PARCEL H: LOTS 18 THROUGH 21, INCLUSIVE, BLOCK 33, SMITHER'S FIRST ADDITION TO THE TOWN OF RENTON, ACCORDING TO THE PLAT THEREOF, RECORDED IN VOLUME 9 OF PLATS, PAGE(S) 17, IN KING COUNTY, WASHINGTON. Subject Property 20.75 Act iso r.0. . O SC.�7 LCL _ ! _ _ L' 'Y- _-- 1 _——.— �• J --- tFc 65 4---" tI! dJ n rrpK' 10 ' �• 2.1--1 3 � ' � � I � � 1 2 5 2As 7 ?� 6 o tt: J 5 ' p0 , y V - u , 61- a{ ¢ 1 – , O I � 7 1 � � �� US�"Dj C/ SF— o Id « 60' f S t S u 319D ST, -- « VII <� 60 N , SpL0 2 0,�: L,n 1 a It 2 � a 1 2 1 3I1 -- - t5 23 316 9 t!aT v 4 3 (ilaj Iv^ 321 320 I i , 4? 1t 6 ' 323 It talc 6 11 32) 32 t '•Z5 II 3?9 324 c•.1 (0 - t 332 Ii TI .ac 33D n 12�' 331 330 13 ° 336 $ 33' > ° 13u - ' " tzo o_14 li Sao IQ .0 Ao 4Th' Z 57- TONKIN e PARK 60 Yr- aiD r I�3, L'I 1109 1s 6C1 tri l 7'S 4'.6 1 15 2 4 8 S W ,7r1t / 13� K ® 8 1 Z 12 7 zJ ? 9 4 Q 10 i 3 � TH ST _ [o tr~ 1 F u i h4 Eil, .' C•-I F,, R1�I'III CHICAGO TITLE INSURANCE COMPANY 1800 COLUMBIA CENTER, 701 5TH AVE, SEATTLE, WASHINGTON 98104 Order NO.: 432682 Unit: U-06 Property Address:WASHINGTON Your NO.: GOOD CHEVROLET CITY OF RENTON 200 MILLS AVENUE SOUTH RENTON, WASHINGTON 98055 Attn: SUE CARLSON 1/1 Enclosed are your materials for the above transaction. If you have any questions regarding these materials, please contact us. Thank you for this opportunity to serve you. tTITLE UNIT 6 PHONE 206-628-5610 TOLL FREE 800-627-0530 FAX 628-9717 MICHAEL BECKMAN SENIOR TITLE OFFICER AND UNIT MANAGER ROGER TERRIERE SENIOR TITLE OFFICER BARBARA WAGNER TITLE OFFICER MIKE HARRIS TITLE OFFICER FLORENCIA BESIN TITLE TECHNICIAN CHICAGO TITLE INSURANCE COMPANY TITLET/10-17-91/SC CHICAGO TIME INSURANCE COMPANY 1800 COLUMBIA CENTER, 701 5TH AVE SEATTLE, WA 98104 Order No.: 432682 Your No.: GOOD CHEVROLET Loan No.. Unit No.: 0 6 SUPPLEMENTAL COMMITMENT O R D E R R E F E R E N C E I N F O R M A T I O N SUPPLEMENTAL NUMBER 1 SELLER: GOOD PROPERTIES, A WASHINGTON GENERAL PARTNERSHIP PURCHASER/BORROWER: CITY OF RENTON LOAN NUMBER: PROPERTY ADDRESS: WASHINGTON Our Title Commitment dated 05/04/95 at 8:00 A.M. is supplemented as follows: PARAGRAPH NUMBER(S) 19 HAS BEEN AMENDED AS FOLLOWS: 1. TO CONSIDER DELETION OF GENERAL EXCEPTIONS B & C AN ALTA SURVEY MUST BE SUBMITTED TO THE COMPANY FOR OUR REVIEW, TO DETERMINE THE LOCATION OF FENCES AND IMPROVEMENTS IN RELATION TO THE PROPERTY LINES & EASEMENTS. GENERAL EXCEPTIONS A & D WILL BE CONSIDERED UPON RECEIPT OF THE COMPLETED AFFIDAVIT AND INDEMNITY. EXCEPT AS TO THE MATTERS SET FORTH HEREINABOVE, THE TITLE TO THE PROPERTY COVERED BY THIS ORDER HAS NOT BEEN REEXAMINED. MAY 22, 1995 AUTHORIZED BY: MIKE BECKMAN NOTE: THE FOLLOWING PARTIES HAVE BEEN SENT A COPY OF THIS SUPPLEMENTAL COMMITMENT: PERKINS, COIE, ATTORNEYS JERRY LUTZ, ESQ. 2/1 GOOD PROPERTIES MR. HOWARD SHERIDAN 1/1 CITY OF RENTON CHICAGO TITLE INSURANCE COMPANY SUPPLCOM/11-2-90/EK CHICAGO TITLE INSURANCE COMPANY Order No.: 432682 Your No.: GOOD CHEVROLET Unit No.: 0 6 SUPPLEMENTAL COMMITMENT (Continued) SUE CARLSON 1/1 WARREN, KELLOGG, BARBER, DEAN & FONTES LARRY WARREN, ESQ. 2/1 CHICAGO TITLE INSURANCE COMPANY SUPLCOM2/11-2-90/EK CHICAGO TITLE INSURANCE COMPANY ' IT 1800 COLUMBIA CENTER, 701 5TH AVE, SEATTLE, WASHINGTON 98104f . Fij�t2� , ' � < Order No.. 432682 Unit: U-06 Property Address:AS DESCRIBED IN COMMITMENT NO. lei ?6",� Your NO.: GOOD CHEVROLET KING COUNTY, WASHINGTON 00000-0000 WARREN, KELLOGG, BARBER, DEAN & FONTES 100 S. 2ND STREET RENTON, WASHINGTON 98057 ATTN: LARRY WARREN, ESQ. 2/1 Enclosed are your materials for the above transaction. If you have any questions regarding these materials, please contact us. Thank you for this opportunity to serve you. TITLE UNIT 6 PHONE 206-628-5610 TOLL FREE 800-627-0530 FAX 628-9717 MICHAEL BECKMAN SENIOR TITLE OFFICER AND UNIT MANAGER ROGER TERRIERE SENIOR TITLE OFFICER BARBARA WAGNER TITLE OFFICER MIKE HARRIS TITLE OFFICER FLORENCIA BESIN TITLE TECHNICIAN CHICAGO TITLE INSURANCE COMPANY TITLET/10-17-91/SC �rk'fZ � ,5 p l c /—j 4 � MEMORANDUM OF GROUND LEASE This Memorandum is made this 7 day of July, 1995 by and between the City of Renton, a municipal corporation of the State of Washington ("Landlord"), and Sheridan Properties, L.L.C., a Washington limited liability company ("Tenant"). CTenant and Landlord have entered into a Ground Lease dated July 7 , 1995 v-1 (the "Ground Lease"). 0 C1. Property Description. The property demised by the Ground Lease is Ln that certain property situate in the City of Renton, County of King, State of Washington, more particularly described in Schedule 1 attached hereto and by this reference incorporated herein, together with all buildings, structures and other improvements now or hereafter located thereon and the appurtenances thereof(the "Premises"). �t s 2. Term. The term of the Ground Lease commenced upon the date of its execution and shall end (unless extended pursuant to Section LB of the Ground Lease) at 12:01 a.m. on the second (2nd) anniversary of the commencement date. 1 Pursuant to Section LB of the Ground Lease, provided Tenant shall not then be in 3 default under the Ground Lease, Tenant shall have the option to extend the term of the Ground Lease for five (5) successive terms of one (1) year each upon the same terms �i and conditions contained in the Ground Lease. 3. Tenant's Option to Repurchase. Under Section 12 of the Ground Lease, in the event Tenant determines it will not, prior to the expiration of the Term, relocate Tenant's automobile dealership to another location described in the Ground Lease, then Tenant shall, upon expiration of the Term (or such earlier date as Tenant shall specify) purchase the Premises from Landlord pursuant to the terms of the ' Ground Lease. 4. Subject to Ground Lease. The terms of this Memorandum are subject a in their entirety to, and shall be controlled by, the terms and provisions of the Ground Lease. u v .r ti T PAGE 1 [00000-0000,13A95 1850.0071 7/6/95 5:02 pm IN WITNESS WHEREOF, Landlord and Teriant have executed this Memorandum on the day and year first set forth above. Landlord: City of Renton, a municipal corporation of the State of Washington By: .t'� �� " K Q X Earl Clymer Its: Mayor- Tenant: Sheridan Properties, L.L.C. O O By: Howard L. Sheridan 00 Its: Manager O :n STATE OF WASHINGTON ) ss. COUNTY OF KING ) THIS IS TO CERTIFY that on this '7C day of , 1995, before me, the undersigned, a notary public in and for the state of W shington, duly commissioned and sworn, personally appeared EARL CLYMER, to me known to be the Mayor of the City of Renton, a municipal corporation that executed the within and foregoing instrument and acknowledged the said instrument to be the free and voluntary act and deed of said City for the uses and purposes therein mentioned, and on oath stated that he was authorized to execute said instrument, and that the seal affixed, if any, is the corporate seal of said City. PAGE [00000-0000/BA951850.007] 7/6/95 5:02 pm IN WITNESS WHEREOF, I have hereunto set my hand and affixed my official seal the day and year in this certificate above written. Print Name: L/�,� TEP/fEiYS� '" Notary Public in and for the State of Washington, residing at ga-1117�--3-t_ •• fo-,r'�' T.. My commission expires: 10-19—q 7 r� rid••.. STATE OF WASHINGTON ) ) ss. COUNTY OF KING ) On this day of , 1995, before me, the undersigned, a Notary Public in and for th ate of ashington, duly commissioned and sworn, personally appeared Howard . Sheridan to me known to be the person who signed as Manager- of Sheridan Properties, L.L.C., the limited liability company that executed pthe within and foregoing instrument, and acknowledged said instrument to be the free O and voluntary act and deed of said company for the uses and purposes therein Cmentioned, and on oath stated that he was duly qualified and acting as said manager 0 of the company, that he was authorized to execute said instrument and that the seal © affixed, if any, is the seal of said company. V WITNESS my hand and official seal hereto affixed the day and year in this certificate above written. � a Print Name. Notary PL lic in a d for the State of Washington, 7-10' qr residing ay, �J My commission expires:�—�u�}J PAGE [00000-0000/13,4951850.007] 7/6/95 5:02 pm Schedule l °- PARCEL A: LOTS 6 AND 7, BLOCK 1, SMITHER'S SIXTH ADDITION TO THE TOWN OF RENTON, ACCORDING TO THE PLAT THEREOF, RECORDED IN VOLUME 26 OF PLATS, PAGE(S) 47, IN KING COUNTY, WASHINGTON; TOGETHER WITH THAT PORTION OF THE ALLEY ADJACENT TO SAID LOT 6 VACATED BY CITY OF RENTON ORDINANCE NUMBER 2779, WHICH ATTACHED BY OPERATION OF LAW. PARCEL B: LOT 1, BLOCK 1, MOTOR LINE ADDITION TO RENTON, ACCORDING TO THE PLAT THEREOF, RECORDED IN VOLUME 9 OF PLATS, PAGES) 50, IN KING COUNTY, WASHINGTON. PARCEL C: LOTS 2 THROUGH 5, INCLUSIVE, BLOCK 1, MOTOR LINE ADDITION TO RENTON, ACCORDING TO THE PLAT THEREOF, RECORDED IN VOLUME 9 OF PLATS, PAGE(S) 50, IN KING COUNTY, WASHINGTON. PARCEL D: LOT 14, BLOCK 2, MOTOR LINE ADDITION TO RENTON, ACCORDING TO THE PLAT THEREOF, _ry RECORDED IN VOLUME 9 OF PLATS, PAGE(S) 50, IN KING COUNTY, WASHINGTON; ?� EXCEPT THE EAST 6 FEET THEREOF CONVEYED TO THE CITY OF RENTON FOR STREET PURPOSES BY DEED RECORDED UNDER RECORDING NUMBER 910189. PARCEL E: LOT 15, BLOCK 2, MOTOR LINE ADDITION TO RENTON, ACCORDING TO THE PLAT THEREOF, RECORDED IN VOLUME 9 OF PLATS, PAGE(S) 50, IN KING COUNTY, WASHINGTON; EXCEPT THE EAST 6 FEET THEREOF CONVEYED TO THE CITY OF RENTON FOR STREET PURPOSES BY DEED RECORDED UNDER RECORDING NUMBER 910200. PARCEL F: LOT 1, BLOCK 2, MOTOR LINE ADDITION TO RENTON, ACCORDING TO THE PLAT THEREOF, RECORDED IN VOLUME 9 OF PLATS, PAGE(S) 50, IN KING COUNTY, WASHINGTON, MORE PARTICULARLY DESCRIBED AS THAT PART OF BLOCK 2, SAID MOTOR LINE ADDITION TO RENTON, LYING SOUTHERLY OF A LINE WHICH IS PARALLEL WITH AND 66 FEET SOUTHERLY FROM THE SOUTHERLY LINE OF LOTS 2 AND 18 OF SAID BLOCK 2. PARCEL G: LOTS 16 AND 17, BLOCK 33, SMITHER'S FIRST ADDITION TO THE TOWN OF RENTON, ACCORDING TO THE PLAT THEREOF, RECORDED IN VOLUME 9 OF PLATS, PAGE(S) 17, IN KING COUNTY, WASHINGTON; EXCEPT THAT PORTION OF SAID LOT 16 CONVEYED TO THE CITY OF RENTON FOR STREET, ALLEY AND ANY OTHER PUBLIC USES AND PURPOSES BY DEED RECORDED UNDER RECORDING NUMBER 7401170345. PARCEL H: LOTS 18 THROUGH 21, INCLUSIVE, BLOCK 33, SMITHER'S FIRST ADDITION TO THE TOWN OF RENTON, ACCORDING TO THE PLAT THEREOF, RECORDED IN VOLUME 9 OF PLATS, PAGE(S) 17, IN KING COUNTY, WASHINGTON. Subject Property 20.751 Ad rt. . T.0 i , rrs CZ �t10 f^ X01 I 15 ' x r2 6 i 2 S I 205 : J 7 3 • z F� 6 fo .60 t 3RD ST. < rl 60 a u SD^ L J7 n I 5 ,311 • tD j .I 3::� TE L Is 31a g 13 �3 312 8 . 23 O 9 'I 316 9 t.Pus.x s 5� r�D Ij - Nu 4 3 S5 323 �y 32e I I 3z7 3z4 rte.I io 332 71 TI 3?0 12 � IZ" 331 330 t3 ° 336 $ 33r ° I Huk H °El 1-{ 8 T-` 336 13 rzo �� IS Zt 344 16 15 3 4THZ ST. ,�" TONKIN run PARK PARK 60_ eA 0 S I �� IS 6f 4`6 <16 c - — s � g ;5 � j1 z 12 To �) �: c s o 5 TH CITY OF RENTON Office of the City Attorney Earl Clymer, Mayor Lawrence J. Warren MEMORANDUM To: Marilyn J. Petersen, City Clerk From: Lawrence J. Warren, City Attorney Date: July 14, 1995 Subject: Sheridan Closing Documents I am enclosing copies of the various closing documents from the Sheirdan real estate transaction. There is also included within the documents the original of the Ground Lease for the property. There are copies of the Warranty Deed, the Memorandum of Ground Lease, the closing statement and the Seller's Certificate of Non-Foreign Status. There is also a copy of the Statutory Warranty Deed showing the recording information. If I receive an rther documents on this matter I will forward them to you. Lawrence J. Warren LJW:as. Encs. cc: Mayor Earl Clymer Jay Covington Sue Carlson Victoria Runkle A8:115.21. Post Office Box 626 - 100 S 2nd Street - Renton, Washington 98057 - (206)255-8678 THIS PAPER CONTAINS 50%RECYCLED MATERIAL,10%POST CONSUMER CHICAGO TITNt INSURANCE COMPANY(9) FINAL BUYER'S/BORROWER'S SETTLEMENT STATEMENT PAGE: 01 ESCROW NUMBER: 00633-000432682-001 ORDER NUMBER: 00633-000432682 CLOSING DATE: 07/07/95 CLOSER: MARRIA FUQUA - 206-628-5642 BUYER: THE CITY OF RENTON SELLER: HOWARD L. SHERIDAN DIANE J. SHERIDAN D/B/A GOOD PROPERTIES A WASHINGTON GENERAL PARTNERSHIP PROPERTY: AS DESCRIBED IN COMMITMENT NO. 432682-6, WASHINGTON CHARGE BUYER CREDIT BUYER Sales Price $ 900,000.00 $ DEPOSIT TO ESCROW 707,912.65 PROMISSORY NOTE TO SELLER 193,000.00 Settlement or Closing Fee 865.60 MESSENGER FEES 12.98 Recording Fees 10.00 Funds Due To Buyer At Closing 24.07 -------------- -------------- TOTALS $ 900,912.65 $ 900,912.65 *4W `ow CERTIFICATION OF NONFOREIGN STATUS (INDIVIDUAL) Section 1445 of the Internal Revenue Code provides that a transferee (buyer) of a U.S. real property interest must withhold tax if the transferor (seller) is a foreign person. To inform the transferee (buyer) that witholding of tax not required upon my disposition of a U.S. real property interest, I, HOWARD L. SHERIDAN, hereby certify the following: 1) I am not a nonresident alien for purposes of U.S. income taxation. 2) My U.S. taxpayer identification number is: and 3) My home address is - Z3,s /6 64 A-�e4l 71 I understand that this certification may be disclosed to the Internal Revenue Service by the transferee and that any false statement I have made here could be punished by fine, imprisonment, or both. Under penalties of perjury I declare that I have examined this certification and to the best of my knowledge and belief it is true, correct and complete. Dated: 7 _ 7 2iOWARD L. SHERIDAN SIBLANK/11-18-90/CJY i✓ 1400 CERTIFICATION OF NONFOREIGN STATUS (INDIVIDUAL) Section 1445 of the Internal Revenue Code provides that a transferee (buyer) of a U.S. real property interest must withhold tax if the transferor (seller) is a foreign person. To inform the transferee (buyer) that witholding of tax not required upon my disposition of a U.S. real property interest, I, DIANE J. SHERIDAN, hereby certify the following: 1) I am not a nonresident alien for purposes of U.S. income taxation. 2) My U.S. taxpayer identification number is: and 3) My home address is I understand that this certification may be disclosed to the Internal Revenue Service by the transferee and that any false statement I have made here could be punished by fine, imprisonment, or both. Under penalties of perjury I declare that I have examined this certification and to the best of my knowledge and belief it is true, correct and complete. Dated: l�1 LAt DIANE J. SHE SIBLANK/11-18-90/CJI' AFFIDAVIT AND INDEMNITY WHEREAS the undersigned Affiant (if more than one, herein collectively called the Affiant) is the owner of the land (the Land) described in that certain Commitment for Title Insurance is ued by Title Insurance Company (the Company) under No. 2 (tile Commitme , for an ALTA Owner's and/or Loan Policy of title insurance (the Policy or Policies), AND WHEREAS, the Proposed Insured(s) under said Commitment Ware requesting the Company to issue its Policy or Policies with Extended Coverage, and to delete therefrom the General Exceptions for rights or claims of parties in possession and unrecorded lien rights, AND WHEREAS the Affiant acknowledges that the Company would refrain from issuing said Policy or Policies without showing said General Exceptions in the absence of the representations, agreements and undertakings contained herein. Nothing contained herein shall be construed so as to obligate the Company to issue said Policy or Policies without showing said General Exceptions. However, should the Company do so, it may do so in part in reliance upon the undertakings of the undersigned Affiant and the issuance of the Policy or Policies shall be the consideration for the undertakings contained herein, NOW THEREFOR the Affiant, being first .duly sworn, deposes and says that: 1. Said Land has been owned and occupied by the Affiant for years and the Affiant's enjoyment thereof has been peaceable and undisturbed. 2. There are no oral or written leases, tenancies or other occupancies, nor any rights of first refusal or options to purchase said land, except (attach list, if necessary, and attach copies of any Written agreements; if none, state "None"): 3. There are no contracts for the making of repairs or for new constn!ction on said Land, nor are there any unpaid bills or claims for labor or services performed or material furnished or delivered during the last twelve (12) months for alterations, repair work or new construction on said Land, including site preparation, soil tests, site surveys, 'demolition, etc., except (if none, state "None"): The Affiant hereby agrees (1) to indemnify, protect, defend and save harmless the Company from and against any and all loss, costs, damages, and attorney's fees it may suffer, expend or incur under or by reason, or in consequence of or growing out of any such matters not identified herein, and (2) to defend at the Affiant's own costs and charges in behalf of and for the protection of the Company and of any parties insured or who may be insured against loss by it tinder said Policy or Policies (but without prejudice to the right of the Company to defend at the expense of the Affiant if it so elects) any every suit, action or proceeding in which any such matters may be asserted or attempted to be asserted, established or enforced with respect to said Land. IN WITNESS WHEREOF, the undersigned has/have executed this agreement this day of 19_. (Acknowledgment Required) STATE OF WASHINGTON ) SS.. COUNTY OF ) On this day personally appeared before me and , to me known to be the inclividual(s) described in and who executed the within and foregoing instrument and acknowledged to me that he/she/they signed the same as his/her/their free and voluntary act and deed for the purposes therein mentioned. Given under my hand and official seal this clay of 19 Notary Public in and for the State of My Commission expires: ...fir'` ` CHICAGO TITLE INSURANCE COMPANY 1800 COLUMBIA CENTER, 701 5TH AVENUE, SEATTLE, WASHINGTON 98104 (206) 628-5666 (206) 628-9737 ESCROW SERVICES STATEMENT CERTIFIED LIMITED PRACTICE OFFICERS MAY RENDER SERVICES AUTHORIZED BY APR 12 RULE ONLY UNDER THE FOLLOWING CONDITIONS: (1) Agreement of the Parties: Prior to the performance of the services all parties to the transaction shall have agreed in writing to the basic terms and conditions of the transaction. (2) Disclosure to the Parties: The Officer shall advise the parties of the following limitations of service: (a) That the Officer is not acting as the advocate or representative of the parties hereto; (b) That the documents prepared by the officer will affect the legal rights of the parties hereto; (c) That the parties'interests in the documents differs; (d) That the parties have a right to be represented by attorneys of their own choosing and at their own expense; (e) That the officer may not and cannot give any legal advice as to the manner in which the documents affect the parties'legal rights. (3) The following documents have been prepared and selected by the officer: STATUTORY WARRANTY DEED & EXCISE TAX AFFIDAVIT (4) Loan documents have been selected and prepared by: PROMISSORY NOTE IN THE FORM PREPARED BY AND/OR MUTUALLY AGREED UPON BY THE PARTIES. (5) Other: NONE We have read and understand this statement and have elected to: () Seek legal counsel of our attorney prior to the signing of the documents hereto. () Waive our rights to seek the advice of legal counsel prior to the signing of the documents hereto. ESCROW NO: 432682 PROPERTY ADDRESS: AS DESCRIBED IN COMMITMENT NO. 432682-6, WASHINGTON LIMITED PRACTICE OFFICER: MARRIA J. FUQUA LPO CTI CAT)' X10. 77 THE,CITY OF RENTQN BY: HOWARD L. SHERIDAN 0 - BY,"/ DIANE J. SHERIDAN C OCHICAGO TITLE INSURANCE COMPANY FILED FOR RECORD AT REQUEST OF TII1S SPACE PROVIDED FOR RECORDER'S USE CHICAGO TITLE INSURANCE COMPANY 1800 COLUMBIA CENTER, 701 5TH AVENUE SEATTLE, WASHINGTON 98104 WHEN RECORDED RETURN TO ATTN: SUE CARLSON CITY OF RENTON 200 MILL AVENUE SOUTH RENTON, WA 98057 432682 STATUTORY WARRANTY DEED THE GRANTOR HOWARD L. SHERIDAN AND DIANE J. SHERIDAN D/B/A GOOD PROPERTIES, A WASHINGTON GENERAL PARTNERSHIP Cfor and in consideration of O TEN DOLLARS AND OTHER GOOD AND VALUABLE CONSIDERATION O in hand paid,conveys and warrants to `l THE CITY OF RENTON, A MUNICIPAL CORPORATION Q� the following described real estate situated in the County of KING State of Washington: LEGAL DESCRIPTION ATTACHED HERETO AS EXHIBIT "A" AND BY THIS REFERENCE MADE A PART HEREOF AS IF FULLY INCORPORATED HEREIN. SUBJECT TO: EXCEPTIONS SET FORTH ON ATTACHED EXHIBIT "B" AND BY THIS REFERENCE MADE A PART HEREOF AS IF FULLY INCORPORATED HEREIN. L r! \ ` YDated: G(/ N �1 G n, 1 to `yWru t/ �� Vv� f WARD L./SHER DAN z IANb E J S R - STATE OF A HINGTON es COUNTY OF F t .4-t ON THIS �_ DAY O , r 19 BEFORE ME, THE UNDERSIGNED, 'A-- NOTARY PUBLIC IN AND FOR TH TATE WASHINGTON�ULY COMMISSIONED AND SWORN,% 9 PERSONALLY APPEARED HOWARD L. SHERIDAN AND DIANE J. SHERIDAN, KNOWN TO ME TO BE THE ,.:;,':-_ INDIVIDUALS) DESCRIBED IN AND WHO EXECUTED THE WITHIN INSTRUMENT AND ACKNOWLEDGED THAT , ' THEY SIGNED AND SEALED THE SAME AS THEIR FREE AND VOLUNTARY ACT AND DEED, FOR THE USES AND PURPOSES HEREIN NTIONED. ' .. a7.nvwNFh4 PRINTED NAMES t ,,J NOTARY PUBLIC IN AND FOR THE STATE OF WASHINCTO o RESIDING ATS`"= \ �. s e► i o MY COMMISSION EXPIRES ON �nbrT,' 7L E1436914 07/07/95 16020.00 900000.00 n� nE: :r11N019/7/23/93/— CHICAGO TITLE INSURAN�COMPANY Escrow No.:432682 EXHIBIT A LEGAL DESCRIPTION The land referred to is situated in the State of Washington,County.of KING and is described as follows: PARCEL A: LOTS 6 AND 7, BLOCK 1, SMITHER'S SIXTH ADDITION TO THE TOWN OF RENTON, ACCORDING TO THE PLAT THEREOF, RECORDED IN VOLUME 26 OF PLATS, PAGE(S) 47, IN KING COUNTY, WASHINGTON; TOGETHER WITH THAT PORTION OF THE ALLEY ADJACENT TO SAID LOT 6 VACATED BY CITY OF RENTON ORDINANCE NUMBER 2779, WHICH ATTACHED BY OPERATION OF LAW. PARCEL B: LOT 1, BLOCK 1, MOTOR LINE ADDITION TO RENTON, ACCORDING TO THE PLAT THEREOF, RECORDED IN VOLUME 9 OF PLATS, PAGE(S) 50, IN KING COUNTY, WASHINGTON. PARCEL C: LOTS 2 THROUGH 5, INCLUSIVE, BLOCK 1, MOTOR LINE ADDITION TO RENTON, ACCORDING TO THE PLAT THEREOF, RECORDED IN VOLUME 9 OF PLATS, PAGE(S) 50, IN KING COUNTY, WASHINGTON. PARCEL D: LOT 14, BLOCK 2, MOTOR LINE ADDITION TO RENTON, ACCORDING TO THE PLAT THEREOF, RECORDED IN VOLUME 9 OF PLATS, PAGE(S) 50, IN KING COUNTY, WASHINGTON; M EXCEPT THE EAST 6 FEET THEREOF CONVEYED TO THE CITY OF RENTON FOR STREET PURPOSES C BY DEED RECORDED UNDER RECORDING NUMBER 910189. O PARCEL E: O LOT 15, BLOCK 2, MOTOR LINE ADDITION TO RENTON, ACCORDING TO THE PLAT THEREOF, RECORDED IN VOLUME 9 OF PLATS, PAGE(S) 50, IN KING COUNTY, WASHINGTON; EXCEPT THE EAST 6 FEET THEREOF CONVEYED TO THE CITY OF RENTON FOR STREET PURPOSES BY DEED RECORDED UNDER RECORDING NUMBER 910200. PARCEL F: LOT 1, BLOCK 2, MOTOR LINE ADDITION TO RENTON, ACCORDING TO THE PLAT THEREOF, RECORDED IN VOLUME 9 OF PLATS, PAGE(S) 50, IN KING COUNTY, WASHINGTON, MORE PARTICULARLY DESCRIBED AS THAT PART OF BLOCK 2, SAID MOTOR LINE ADDITION TO RENTON, LYING SOUTHERLY OF A LINE WHICH IS PARALLEL WITH AND 66 FEET SOUTHERLY FROM THE SOUTHERLY LINE OF LOTS 2 AND 18 OF SAID BLOCK 2. PARCEL Gs LOTS 16 AND 17, BLOCK 33, SMITHER'S FIRST ADDITION TO THE TOWN OF RENTON, ACCORDING TO THE PLAT THEREOF, RECORDED IN VOLUME 9 OF PLATS, PAGE(S) 17, IN KING COUNTY, WASHINGTON; EXCEPT THAT PORTION OF SAID LOT 16 CONVEYED TO THE CITY OF RENTON FOR STREET, ALLEY AND ANY OTHER PUBLIC USES AND PURPOSES BY DEED RECORDED UNDER RECORDING NUMBER 7401170345. PARCEL H: LOTS 18 THROUGH 21, INCLUSIVE, BLOCK 33, SMITHER'S FIRST ADDITION TO THE TOWN OF RENTON, ACCORDING TO THE PLAT THEREOF, RECORDED IN VOLUME 9 OF PLATS, PACE(S) 17, IN KING COUNTY, WASHINGTON. QQ��a7ca) CHICAGO TITLE INSURANCE COMPANY w � CHICAGO TITLE INSURANCE COMPANY Escrow No.:432682 EXHIBIT B SUBJECT TO: 1. EASEMENT AND THE TERMS AND CONDITIONS THEREOF: RESERVED BY: CITY OF RENTON PURPOSE: UTILITY AREA AFFECTED: VACATED ALLEY WITHIN PARCEL A RECORDED: JUNE 18, 1973 RECORDING NUMBER: 7306180482 SAID INSTRUMENT BEING CITY OF RENTON ORDINANCE NUMBER 2779. 2. AGREEMENT AND THE TERMS AND CONDITIONS THEREOF: BETWEEN: CITY OF SEATTLE, A MUNICIPAL CORPORATION AND: PEOPLES NATIONAL BANK, TRUSTEE UNDER WILL OF JOHN SWANSON AND HAYDEN WILLIAMS ESTATE - RUTH WILLIAMS, JERAY HOLMES AND CAROLYN HOLMES, CO-EXECUTORS RECORDED: JANUARY 6, 1984 RECORDING NUMBER: 8401061023 REGARDING: PERMIT TO USE A PORTION OF CITY'S 66 �i FOOT WIDE CEDAR RIVER PIPELINE RIGHT OF O WAY ADJACENT TO PARCELS B AND F O 0 3. RIGHT OF THE PUBLIC TO MAKE NECESSARY SLOPES FOR CUTS OR FILLS UPON SAID PREMISES IN THE REASONABLE ORIGINAL GRADING OF STREETS, AVENUES, ALLEYS, AND ROADS AS DEDICATED IN THE PLAT. AFFECTS: PARCEL A 4. ENCROACHMENTS, OVERLAPS, BOUNDARY LINE DISPUTES, OR OTHER MATTERS WHICH WOULD BE DISCLOSED BY AN ACCURATE SURVEY AND INSPECTION OF THE REAL ESTATE. -- CHICAGO TITLE INSURANCE COMPANY n 7 nCz �wrr ,f err° 1 PLEASE TYPE OR PRINT REAL ESTATE EXCISE TAX AFFIDAVIT This form is your receipt when stamped PLEASE SEE REVERSE Form No. 84 0001A by cashier. CHAPTER 82.45 RCW-CHAPTER 458-61 WAC For Use at County Treasurer's Office (Use Form No. 84-OOOIB for Reporting Transfers of Controlling Interest of Entity Ownership to the Department of Revenue) THIS AFFIDAVIT WILL NOT BE ACCEPTED UNLESS ALL AREAS 1-7 ARE FULLY COMPLETED Name / ! ',, i © Name a w Street Street City State Zip r1/ City j; t State i: 1 Zip 9,-.(`W ADDRESS TO SEND ALL PROPERTY TAX RELATED CORRESPONDENCE ALL TAX PARCEL NUMBERS "'Es0'NTS rREA .(3RD$:: .AtYE:3:; SSYiS�1J�<t3?:'i'A2C:;�X�illf'1`:. y i Name a e tr S ee t: 'a. U C itY/ � State Zi / r P a LEGAL DESCRIPTION OF PROPERTY SITUATED IN ❑UNINCORPORATED COUNTY ❑ OR IN CITY OF Street Address (if property is improved): r. ).l .. a C)1' '.t::`i_ J\ _'i.i. DY :.i,):. © Is this property currently: YES NO �, Description of tangible personal property if included in sale (furniture, Classified or designated as forest land? ❑ appliances, etc.) Chapter 84.33 RCW Classified as current use land (open space, farm ❑ and agricultural, or timber)? Chapter 84.34 RCW Exempt from property tax as a nonprofit ❑ © If exemption claimed, list WAC number and explanation. organization? Chapter 84.36 RCW Seller's Exempt Reg. No. _____—___ WAC No. (Sec/Sub) Receiving special valuation as historic ❑ Explanation property under? Chapter 84.26 RCW Property Type: ❑ land only ❑ land with new building d land with previously used building ❑ land with mobile home 1.�.I';i' :.,r ,; si ?_{�1"iii ❑ timber only El building only Type of Document Principal Use: ❑ Apt. (4 + unit) residential Date of Document ❑ timber ❑ agricultural commercial/industrial Gross Sale Price $ ❑ otker Personal Property (deduct) $ (1) 1`aOTICE OF CONTINUANCE (RCW 84.33 or RCW 84.34) Taxable Sale Price $ Excise Tax State $ If the new owner(s)of land that is classified or designated as current use Local $ or forest land wish to continue the classification or designation of such land,the new owner(s)must sign below.If the new owner(s)do not desire Delinquent Interest: State $ to continue such classification or designation, all compensating or addi- Local $ tional tax calculated pursuant to RCW 84.33.120 and 140 or RCW 84.34.108 Delinquent Penalty: State $ shall be due and payable by the seller or transferor at the time of sale. The county assessor must determine if the land transferred qualifies to Total Due $ continue classification or designation and must so indicate below.Signatures THERE IS A$2.00 FEE FOR PROCESSING THIS FORM IF NO TAX IS DUE do not necessarily mean the land will remain in classification or designa- tion. If it no longer qualifies, it will be removed and the compensating AFFIDAVIT taxes will be applied. All new owners must sign. I certify under penalty of perjury under the laws of the state of This land ❑does ❑does not qualify for continuance. Washington that the foregoing is true and correct. Date nature DEPUTY ASSESSOR Grantor/A nt (2) NOTICE OF COMPLIANCE (Chapter 84.26 RCW) Name (print) If the new owner(s)of property with special valuation as historic property '_ wish to continue this special valuation the new owner(s)must sign below. Date & Place of Signing; If the new owner(s)do not desire to continue such special valuation, all additional tax calculated pursuant to Chapter 84.26 RCW, shall be due and payable by the seller or transferor at the time of sale. Grantee/Ag t v (3) OWNER(S) SIGNATURE ame (print) Date & Place of Signing PERJURY. Perjury is a class C felony which is punishable by imprisonment in a state correctional institution for a maximum term of not more than five years, or by a fine in an amount fixed by the court of not more than five thousand dollars($5,000.00), or by both imprisonment and fine (RCW 9A.20.020 (1C)). FOR TREASURER'S USE ONLY FORM REV 84 0001A (7-6-94) (PD 7-6-94) ® 5 18 hied ujl Cill�C0�0 Tfi O �E7SUC33CP. (;0_ TAXPAYER CHICAGO TITLE INSURANCE COMP,*,,e Escrow No.: 432682 EXHIBIT A LEGAL DESCRIPTION The land referred to is situated in the State of Washington,County of KING ,and is described as follows: PARCEL A: LOTS 6 AND 7, BLOCK 1, SMITHER'S SIXTH ADDITION TO THE TOWN OF RENTON, ACCORDING TO THE PLAT THEREOF, RECORDED IN VOLUME 26 OF PLATS, PAGE(S) 47, IN KING COUNTY, WASHINGTON; TOGETHER WITH THAT PORTION OF THE ALLEY ADJACENT TO SAID LOT 6 VACATED BY CITY OF RENTON ORDINANCE NUMBER 2779, WHICH ATTACHED BY OPERATION OF LAW. PARCEL B: LOT 1, BLOCK 1, MOTOR LINE ADDITION TO RENTON, ACCORDING TO THE PLAT THEREOF, RECORDED IN VOLUME 9 OF PLATS, PAGE(S) 50, IN KING COUNTY, WASHINGTON. PARCEL C: LOTS 2 THROUGH 5, INCLUSIVE, BLOCK 1, MOTOR LINE ADDITION TO RENTON, ACCORDING TO THE PLAT THEREOF, RECORDED IN VOLUME 9 OF PLATS, PAGE(S) 50, IN KING COUNTY, WASHINGTON. PARCEL D: LOT 14, BLOCK 2, MOTOR LINE ADDITION TO RENTON, ACCORDING TO THE PLAT THEREOF, RECORDED IN VOLUME 9 OF PLATS, PAGE(S) 50, IN KING COUNTY, WASHINGTON; EXCEPT THE EAST 6 FEET THEREOF CONVEYED TO THE CITY OF RENTON FOR STREET PURPOSES BY DEED RECORDED UNDER RECORDING NUMBER 910189. PARCEL E: LOT 15, BLOCK 2, MOTOR LINE ADDITION TO RENTON, ACCORDING TO THE PLAT THEREOF, RECORDED IN VOLUME 9 OF PLATS, PAGE(S) 50, IN KING COUNTY, WASHINGTON; EXCEPT THE EAST 6 FEET THEREOF CONVEYED TO THE CITY OF RENTON FOR STREET PURPOSES BY DEED RECORDED UNDER RECORDING NUMBER 910200. PARCEL F: LOT 1, BLOCK 2, MOTOR LINE ADDITION TO RENTON, ACCORDING TO THE PLAT THEREOF, RECORDED IN VOLUME 9 OF PLATS, PAGE(S) 50, IN KING COUNTY, WASHINGTON, MORE PARTICULARLY DESCRIBED AS THAT PART OF BLOCK 2, SAID MOTOR LINE ADDITION TO RENTON, LYING SOUTHERLY OF A LINE WHICH IS PARALLEL WITH AND 66 FEET SOUTHERLY FROM THE SOUTHERLY LINE OF LOTS 2 AND 18 OF SAID BLOCK 2. PARCEL G: LOTS 16 AND 17, BLOCK 33, SMITHER'S FIRST ADDITION TO THE TOWN OF RENTON, ACCORDING TO THE PLAT THEREOF, RECORDED IN VOLUME 9 OF PLATS, PAGE(S) 17, IN KING COUNTY, WASHINGTON; EXCEPT THAT PORTION OF SAID LOT 16 CONVEYED TO THE CITY OF RENTON FOR STREET, ALLEY AND ANY OTHER PUBLIC USES AND PURPOSES BY DEED RECORDED UNDER RECORDING NUMBER 7401170345. —PARCEL H: LOTS 18 THROUGH 21, INCLUSIVE, BLOCK 33, SMITHER'S FIRST ADDITION TO THE TOWN OF RENTON, ACCORDING TO THE PLAT THEREOF, RECORDED IN VOLUME 9 OF PLATS, PAGE(S) 17, IN KING COUNTY, WASHINGTON. CHICAGO TITLE INSURANCE COMPANY f AmendsORD4487 CITY OF RENTON, WASHINGTON ORDINANCE NO. 4516 AN ORDINANCE OF THE CITY OF RENTON, WASHINGTON, APPROPRIATING FUND FOR THE PURPOSE OF ACQUIRING PROPERTY AND PROVIDING FOR AMENDING THE 1995 BUDGET. WHEREAS, the City Council of Renton, Washington has deemed it necessary to purchase property; and WHEREAS, the City of Renton has the funds to purchase the property; and WHEREAS, it is necessary to amend the 1995 Budget to permit the acquisition; NOW, THEREFORE, THE CITY COUNCIL OF THE CITY OF RENTON WASHINGTON DO ORDAIN AS FOLLOWS: SECTION I. The following adjustments are hereby allowed and established in each of the following funds : Fund Action Amount Amended Budget Expenditures 103 Street Fund Operating Transfer Out 200,000 4,791,141 215 General Govt Misc Debt Service Expenditure 16,000 1,049,603 316 Municipal Facilities CIP Expenditure of Funds 707,000 3,469,546 Revenue 316 Municipal Facilities CIP Operating Transfer In 200,000 1,890,389 SECTION II. A list of all individual budget adjustments is available for public review in the Office of the City Clerk, Renton Municipal Building. ORDINANCE NO. 4516 SECTION III. This ordinance shall be effective upon its passage, approval, and five days after publication. PASSED BY THE CITY COUNCIL this 8th day of May, 1995 . Marilyn tersen, City Clerk APPROVED BY THE MAYOR this 8th day of May, 1995 . Ear Clymer, May1 Approved to form: La nce J. Wari&4, City Attorney Date of Publication: May 12, 1995 ORD.457 :5/3/95 :as . 2 CI I'Y OF RENTON 1995 BUDGET ADJUSTMENTS As of 55/8(95 o'N 8 oescnpt;ol 1995:: Revenue <Exp 1995: Budget Adjstmnts AdlStmnts Ad)Budget FUND 103-STREET FUND Beginning Fund Balance 103 000000 000 3080 0000 00 000000 1,711,983 1,711,983 REVENUES: 1995 Budgeted Revenues 4,460,544 4,460,544 TO ..R EVENUES:&HEG[N.F.UND.Bi41 ANCE 6.172;527; 0:':: 6 97:2:527: EXPENDITURES: Operating Transfers Out 103 000000 016 5970 0047 55 000095 0 200,000 200,000 Other Budgeted Expenditures 4,591,141 4,591,141 Total Expenditures 4,591,141 200,000 4,791,141 Ending Fund Balance 103 000000 000 5060 0000 00 000000 1,581,386 (200,000) 1,381,386 TOTAL:EXP>Np[T{Jl?E$$Elyi3 FUND BALANCE 6 172 527 200 000 61�2 527 FUND 215-GENERAL GOVT MISCELLANEOUS DEBT Beginning Fund Balance 215 000000 000 3080 0000 00 000000 378,228 0 378,228 REVENUES: 1995 Budgeted Revenues 900,600 0 900,600 TOTAL:REVENUE, ;&BEGtN.;F>�ND BAEANCE 1.278;828 0 14278;928'. EXPENDITURES: Sheridan Property/Principal 215 000000 033 5910 0019 75 000095 0 12,837 12,837 Sheridan Property/Interest 215 000000 033 5920 0019 83 000095 1995 Budgeted Expenditures 3,163 3,163 1,033,603 0 1,033,603 Total Expenditures 1,033,603 16,000 1,049,603 Ending Fund Balance 215 000000 000 5080 0000 00 000000 245,225 (16,000) 229,225 TOTAL;EXPENDITURES.&E71t5 FUND BALANCE7 9,278 828 0 1.278;828'' FUND 316-MUNICIPAL FACILITIES CIP Beginning Fund Balance 316 000000 000 3080 0000 00 000000 1,837,751 0 1,837,751 REVENUES: Trf-In fm 103 Steel Fund 316 000000 000 3970 0000 00 000095 0 200,000 200,000 1995 Budgeted Revenues 1,690,389 0 1,690,389 O7At 12E1lENUES: BE .).N NCE: 3,528;9+103?28,140.' EXPENDITURES: Downtown Public Square Acquisition 316 000000 020 5940 0076 61 000095 0 707,000 707,000 1995 Adopted Expenditures 2,762,546 2,762,546 Total Expenditures 2,762,546 3,469,546 Ending Fund Balance 316 000000 000 5080 0000 00 000000 765,594 200,000n ,000 07 258,594 ) TL9Thl.tCP£ND[TiIRES&EtdDFUND8ACNC> 3526,190 Zg0;000 (7Q7,Ot�) 3,728,190 H:1Budget11995\CanyfdXPROPORD.XLS Page 1 513195 z c 'Ge *13 � N (A 60. =rN 7' a =r 7 (cn w CD m n CD (p :3CD CD 7 (n ::rp - Cn CD = _ o c / r �'• C'• v w 3 CD ( CD gyp (A CD M. < 0 (n oCD %moi^' a ► N 7 uim � o`< � � � m CD J D o:m/ o o �, 3 c p p m �, 'Tt / cn � m X w_ � a �-a � TI CD 0 O CD - CDD -w S CD O0 CD 0 0 N U) r CD co � n CDCwnw � OX m � —I (n (D CD ? 0 O CS 0. a =r m � ocrn (c 7- o � aiQ � � < ccr. 0 ° .� oz cn CD 0 w M 3 3 D � a� -o CD r a Q(acn' = ° c � o ((nD CD I m CD 7c - (c0vm '� C (° 0 °' � c c w Qai c `� CD — M C7. 0 g � m Z cr (C)CD TM o 0 � ow � awn RI �_ r c � - � -3-0 =r m < _ c a =)(a 5 a � a w y ,� w w 7 N � > w �< a p < � CD M' c -m ai c � :3 �' m� 0)0 CD Cl) 'v c cn• O 0 Z c � � c � cn CD CD ' � � m Fn. _ y In nG `< y Q5w 0 (c 3 Cr CD occm o o CD * a Cn (n (c w c Cn Cn CD S CD X' iv ariv o D w <fD -050 aw Dm DD (D-1 ow Zn c v DZT-lD vf� ry -0 CD cD Cn-m`c'cn 3l 13 2•"aw -T -fD tnL7rZ`cg am KOCOZ iD6coo w = WDnamwpnma`Q �< > jrn> > cnm�' w� cDmm-10Oc"Sv, 2��2Z zp�0 Q �_•I < < p < tnw< <n_ � nn-( m na n•• m a� c�Om�CDm »mw mv� mn < om" cD �amCD- - K2 &ffK& C)4 � - -Iz c o co 37 T1 _ :74CL �0 -00 O Zco o un Z-co .. 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S w _�-0O� Z CD v, (� z o m - o- v Dp n`c'Oz�^.w > > m o v_ °'� f = m t7 � � « D� pD �tA �m 3-(�j� Omns' uo' M G) -n .� o 0 w �� $ 00 oc�i a� ( 3 �� n w. o '�C-1m Z w o w o � m o.- o� om mo o .. =Z O-z < cis m Cl.m - CL cc I* m CD o? 70�G�? i" d' � ��av��v4TdiJ CIT F RE NTON Office of the City Attorney Earl Clymer,Mayor Lawrence J.Warren May 22, 1995 Mr. David C. Kelly Williams, Kastner & Gibbs P.O. Box 21926 Seattle, Washington 98111-3926 Re: Sale from Good Properties to City of Renton Dear Mr. Kelly: Jerry Lutz passed along your letter to .,me for =review. : I . have reviewed the letter and the information I have : fes' T' = 200' bi S end St, ---------------- .�� .:atm: ;• P PTO Ose pp=10 4 1 A�1, � � Y '6\-•i?i -El Te&nlcrJ Servicss Howard Sheridan + + PkwM4v/SU ainQ/pxk C Wari a R M=or>i, D. v"wiftb Recommended Purchase 4 Ie� w M; 20 'd TTL-1 W0aJ bLbSSSZ907-T 01 ZZ:El SG, 0Z Ntir PURCHASE.DOC #1 Logon to A�Ioh �� S? "'- - V 4700> ' Howard & Diane Sheridan 784180-0035 33,761 5238,300 H. & D. Sheridan 7,611 557.100 53,500 569600-0005 311,300 H. &D. Sheridan 0010 20,451 5143,200 ;,,,,, Burmtr to Logtrn 8.506 " 345.500 5700 #2 569600-0115 6.506 545.500 3400 H & D. Sheridan 0120 591,000 51,100 ;.: ;'t>:w•��:: Y� Y.,:•. .: 13,012 . _ t�� -r r`..•a... >4•::!.�„�:ST``:riNts'r,`Ay"""'•,,..M' �•j'Y . . •:v'0-..:'`',:',::.^ti•.r8s`. ��t'• �•t' .:°'l t:�;..:..`.'. •s..w. •w.Ge....,,.w. •t}Jt 77*d AveL.Q • ' : ` H. &D. Sheridan 2.524 81,200 #3 569600-0050 24 :1$ �:i • , �_'- ,? X` •t♦ i`f>.y..-.:���.�• .jam�` 'yiw•..... `^t1••.•�� >..^IY.'LV>wwwMw,, 4#h&Burnett `; '�:• H. & D. Sheridan 6,100 $4.2,700 $6,600'r. #4 783930-0305 $9,100 H. &D• Sheridan 0315 19,200 $134,400 00 Page 1 ZH'd S ZL-1 WOdj t72,VSSSZqOEj O1 ZZ:Zi 96, OZ NtJf SCHEDULE 1 The land referred to in this commitment is situated in the county of King, state of Washington, and described as follows : PARCEL A: Lots 6 and 7, Block 1, Smither' s Sixth Addition to the Town of Renton, according to the plat thereof recorded in Volume 26 of Plats, page 47 in King County, Washington; TOGETHER WITH that portion of the alley adjacent to said Lot 6 vacated by City of Renton Ordinance Number 2779 , which attached by operation of law. G PARCEL B: Lot 1, Block 1, Motor Line Addition to Renton, according to the plat thereof recorded in Volume .9 of Plats, page 50 , in King County, Washington. PARCEL C: Lots 2 through 5 , inclusive, Block 1, Motor Line Addition to Renton, according to the plat thereof recorded in Volume 9 of Plats, _ page 50 , in King County, Washington. PARCEL D: Lot 14 , Block 2, Motor Line Addition to Renton, according t o the plat thereof recorded in Volume 9 of Plats, page 50 , in Kinq County, Washington; EXCEPT the east 6 feet thereof conveyed to the City of Renton for street purposes by deed recorded under Recording Number 910189 . PARCEL E : Lot 15, Block 2 , Motor Line Addition to Renton, according to the plat thereof recorded in Volume 9 of Plats, page 50, in King County, Washington; EXCEPT the east 6 feet thereof conveyed to the City of Renton for street purposes by deed recorded under Recording Number 910200 . LEGAL DESCRIPTION, continued: PARS F: - ; to the plat I Addition to Renton, accord-ng Lot 1, Block 2 , Motor Line King County, recorded in Volume 9 of Plats, page 50 , 1n o Block 2 said thereof � . alarly described as that pari Washington, more pa- southerly of a lire which is to Re:LtO lying southerly line o� Motor Lire Addit On inor� from the Y parallel with and 66 feet soLt__- Y Lots 2 and 18 of sai d Block 2 . p�R=G: - ,.r :first Addition to the Tow='- c: <<,_the_ s Lots 15 and 17 , Bloc 33 , S^� ` _ Y Volume 9 0. Plats , �O� S �.o he D1c� tl e"n0= recorded in accord-ng Re_1tOL1, i n King County, Wash'-nc-O 1; dtheCity of Renton nage 17 , i - sa'_d Lot 1-S COnveye to !xCE?T that portion c= tic uses and pu:ocses by deed a� ey. and any p'�- s ree , 071 .5 .=Or t- �� i i N ::�cr 7 703 recorded u;-der Reco_ci---g f� PARCEL H: Smlther r S �i rst cTad0.ltlOn tO �„- cn 21, inclusive_, Block 33 , ; Lots 18 t---ou�_ e^ according to the plat thereof recorded n t Town Of Renton, i , Count Washington. volume 9 of Plats, pace 7, n K ng Y L of Parcels A, B and C also 3 kande as 569600- LOT NO . 1 consis�s 569600-0005 parcel numbers 784180-0035-00, 0010-06 . as tax LOT No •2 69600-0120-0 consists of Parcels D and E also known parcel numbers 569600-0115-00 and 5tax parcel LOT No. 3 consists of Parcel r also known as number 569600-0050-07 • also known as tax LOT No.4 consists of Parcels G 783930-0315-06 . and H parcel numbers 783930-0305-08 and c.R CITYF RENTON "LL Office of the City Attorney Earl Clymer, Mayor Lawrence J.Warren CITY OF RENTON MEMORANDUM Y 1 6 1995 CITY CLERK'S 0;FJ-t;E To: Marilyn J. Petersen, City Clerk From: Anne Santos, Legal Assistant to Lawrence J. Warren, City Attorney Date: May 16, 1995 Subject: Sheridan Property Acquisition I am enclosing the original of a Real Estate Purchase and Sale Agreement between Howard and Diane Sheridan and the City of Renton for the City's file. Anne Santos LJW:as. Enclosure A8:113.139. Post Office Box 626 - 100 S 2nd Street - Renton, Washington 98057 - (206)255-8678 MThis paper contains 50%recvcled material.25%oost consumer REAL ESTATE PURCHASE AND SALE AGREEMENT THIS AGREEMENT is between Howard L. Sheridan and Diane J. Sheridan, husband and wife ("Seller") and the City of Renton, a municipal corporation ("Purchaser"), and is made for the purpose of purchase and sale of the following described real property. In consideration of the covenants and agreements hereinafter made, the parties agree as follows: Section 1. Description of Property Purchaser agrees to purchase from Seller, and Seller agrees to sell to Purchaser, the following described real property referred to in this Agreement as "the premises"): See Exhibit A attached hereto and incorporated by reference herein. Section 2. Purchase Price The total purchase price for the premises is Nine Hundred Thousand and 00/100 Dollars ($900,000.00) shall be paid to Seller in cash as follows: Seven Hundred Seven Thousand and 00/100 Dollars ($707,000.00) through escrow at closing and the remainder, together with interest on such unpaid remainder beginning from the date of closing at ten percent (101/o) per annum, in installments of Eight Thousand and 00/100 Dollars ($8,000.00) per month on the first day of each month (beginning the first full month following closing) until principal and interest are paid in full. All payments shall be credited first to accrued interest, then to principal. Section 3. Title Seller's title to the premises at closing shall be good and marketable and free and clear of all liens, encumbrances or defects except those approved by Purchaser pursuant hereto. Seller shall deliver or cause to be delivered to Purchaser, as soon as obtainable and at Seller's cost, a preliminary commitment for title insurance for an extended form owner's policy of title insurance issued by Chicago Title Insurance Company ("Title Company") showing the condition of Seller's title to the Premises. Within thirty (30) days after receipt of the preliminary commitment and legible copies of all exceptions noted therein, Purchaser shall give notice to Seller in writing of exceptions which are approved by Purchaser. The usual printed form of general exceptions in the commitment and those exceptions approved by Purchaser shall be the "Permitted Exceptions". Exceptions not approved by Purchaser in writing are REAL ESTATE PURCHASE AND SALE AGREEMENT PAGE 1 [00000-0000BA951200.008] 5/3/95 4:42 pm deemed disapproved, provided that if an Exception cannot be cured by Seller prior to closing by payment of money, Seller may terminate the Agreement by written notice to Purchaser within thirty (30) days of Purchaser's failure to approve such Exception. Rights reserved in Federal Patents or State Deeds, building or use restrictions general to the district, existing easements not inconsistent with the intended use of the premises, and building or zoning regulations or provisions shall not be deemed encumbrances or defects. Encumbrances to be discharged by Seller may be paid out of the purchase price at closing. Seller shall deliver to Purchaser at closing an extended form owner's policy of title insurance issued by Title Company. Both the preliminary commitment and the owner's policy of title insurance shall be in the face amount of the purchase price insuring Purchaser's title subject to no exceptions except Permitted Exceptions. If title is not insurable as provided above and cannot be made so insurable by the termination date of this Agreement, the Earnest Money shall be refunded and this Agreement shall terminate. Section 4. Conveyance of Title At closing, Seller shall convey title to Purchaser of the premises by statutory warranty deed, subject only to the Permitted Exceptions. Section 5. Prorations Taxes for the current year, rents, insurance, interest, mortgage reserves, water and other utilities constituting liens on the property shall be prorated as of date of closing. Section 6. Closing This purchase shall be closed in the office of Title Company, within 30 days after removal of all contingencies, but in any event not later than six (6) months from date of this Agreement, which shall be the termination date. The parties will deposit in escrow with Title Company all instruments and moneys necessary to complete this purchase in accordance with this Agreement. The cost of escrow shall be paid one- half(1/2) each by the parties. Section 7. Possession Unless Seller exercises the option provided in Section 14, Seller shall deliver possession to Purchaser on date of closing. REAL ESTATE PURCHASE AND SALE AGREEMENT PAGE 2 [00000-OOOOBA951200.008] 5/3/95 4:42 pm . *owl Section 8. Representations and Warranties of the Seller Seller makes the following representations and warranties to Purchaser which are, on the date of this Agreement, and will be, unless Seller gives notice to the contrary, on the closing date, true to the best of Seller's knowledge but without independent investigation. The provisions of this Paragraph shall survive the closing of this transaction. A breach or failure of any representation or warranty in this Paragraph shall be a material default by Seller of this Agreement. 8.1 At least since 1970, the Premises have been used by Seller primarily as a location for display and storage of new and used cars. Seller is not aware of any release or disposal of petroleum products, oil, industrial chemicals, asbestos, PCBs, hazardous substances, pollutants, contaminants or hazardous wastes of any kind (hereafter "Hazardous Substances"), as those terms are defined or used in federal or Washington statutes and regulations, including, but not limited to, the Comprehensive Environmental Response, Compensation and Liability Act ("CERCLA"), the Resource Conservation and Recovery Act ("RCRA"), the Federal Water Pollution Control Act ("FWPCA"), and the State Model Toxic Control Act, into, over, beneath or from the property or groundwater beneath the property, or in any structures located on the property, from any source whatsoever, by Seller, its lessees, subsidiaries, parent, or agents. This representation and warranty excludes minor leaks and spills of gasoline, oil and other fluids typical of an automobile parking, servicing and fueling area. 8.2 No civil or criminal litigation or administrative proceeding has been brought under any environmental laws (and Seller has received no notices, demand letters or claims) which involves the premises or any release or threatened release of Hazardous Substances thereon. 8.3 Neither Seller nor the premises is affected by any written or oral agreement which will prevent Seller's timely and full performance of all of Seller's obligations under this Agreement. 8.4 Seller has received no notice from any governmental authority with jurisdiction over the premises that the premises is in violation of any applicable law, regulation, order or ruling, including applicable building and zoning regulations. Section 9. Premises Sold As Is Purchaser and its representatives, prior to the closing date, will have been afforded the opportunity to make such inspections of the premises and matters related thereto as Purchaser and its representatives desire. Purchaser acknowledges and agrees that the premises are to be sold and conveyed to and accepted by Purchaser in an "AS IS, WHERE IS" condition, WITH ALL FAULTS AND DEFECTS. Except as REAL ESTATE PURCHASE AND SALE AGREEMENT PAGE 3 [00000-OOOOBA951200.008] 513195 4:42 pm specifically provided in Section 8, Seller makes no representations or warranties of any kind whatsoever, either express or implied, with respect to the premises. Purchaser acknowledges that it is entering into this Agreement on the basis of Purchaser's own investigation of the physical and environmental conditions of the premises, including the subsurface conditions, and Purchaser assumes the risk that adverse physical and environmental conditions may not have been revealed by its investigation. (Notwithstanding the foregoing, nothing in this section implies an obligation that Purchaser indemnify Seller against claims or liability for response costs of federal or state agencies to the extent Seller is otherwise liable under applicable law for such response costs.) Purchaser acknowledges that notwithstanding-any prior or contemporaneous oral or written representations, statement, documents or understandings, this Agreement constitutes the entire understanding of the parties with respect to the subject matter hereof and the purchase and sale of the premises and supersedes any such prior or contemporaneous oral or written representations, statements, documents or understandings. Section 10. Miscellaneous If prior to closing, the improvements on the premises shall be destroyed or materially damaged by fire or other casualty, this Agreement at the option of the Purchaser shall become void. There are no verbal or other agreements which modify or affect this Agreement. Time is of the essence of this Agreement. Purchaser has not consulted with, nor discovered the premises through the use of a Realtor or other agent and there are no finders fees or commissions due upon this transaction. Facsimile transmission of any signed original document, and retransmission of any signed facsimile transmission, shall be the same as transmission of an original. At the request of either party, or the Closing Agent, the parties will confirm facsimile transmitted signatures by signing an original document. Notices given under this Agreement shall be in writing and shall be delivered personally with written receipt therefor, or sent by certified mail, return receipt requested, to the following addresses: Seller: Purchaser: Howard Sheridan Sue Carlson c/o Good Chevrolet City of Renton 3rd and Burnett 200 Mill Avenue South P.O. Box 935 Renton, Washington 98057 Renton, Washington 98057 REAL ESTATE PURCHASE AND SALE AGREEMENT PAGE 4 [00000-0OOOBA951200.008] 5/3/95 4:42 pm Noe with a copy to be provided to: with a copy to be provided to: R. Gerard Lutz Lawrence J. Warren Perkins Coie Warren, Kellogg, Barber, Dean& 411-108th Avenue N.E. Fontes, P.S. Suite 1800 100 S. Second Street Bellevue, Washington 98004 Renton, Washington 98057 Section 11. Seller's Contingencies The obligations of Seller under this Agreement are contingent upon the occurrence of the following, or waiver by Seller in writing, on or before the date of closing: (a) Seller acquisition of rights to acquire the following properties (the "automall properties") to which Seller anticipates relocating the Good Chevrolet auto dealership within the next several years. A. Lots 1, 2, 3, 4, 5, 6, 7, 8, and 9, Block 27, C, D, Hillman's Earlington Gardens Addition, Division No. 1.according to the plat recorded in Volume 17 of Plats, page 7, in King County, Washington. B. Lots 50-57, Block 27, Hillman's Earlington Gardens #1 situated in the NW Y4 19-23-05. Also known as King County tax Assessor's 334040-4641, 4655, and 4665. C. Lots 2 through 9, 12 through 15, 47 through 51 of Hillman's Earlington Gardens Division#I of plats, Block 21, as recorded in Volume 17 of Plats, page 74; and Lots 1 through 9 and 54 through 62 of Hillman's Earlington Gardens Division#1 of plats, Block 26, as recorded in Volume 17 of plats, page 74; and Lots 29 and 30 of Hillman's Earlington Gardens Division #I of plats, Block 17, as recorded in Volume 17 of Plats, page 74; and Lots 1 and 2 of Hillman's Earlington Gardens Division#1 of plats, Block 22, as recorded in Volume 17 of Plats, page 74; records of King County, Washington. REAL ESTATE PURCHASE AND SALE AGREEMENT PAGE 5 [00000-OOOOBA951200.008] 5/3/95 4:42 pm D. Lots 3 through 9 and Lots 46 through 47 of Hillman's Earlington Gardens Division#1 of plats, Block 22, as recorded in Volume 17 of Plats, page 74; Except that portion-of Lots 46 and 47 conveyed to the State of Washington for road by instrument recorded under King County Auditor's File No. 5441280; E. Lots 10, 11 and 12, 51, 52, and 53, Block 26, C. D. Hillman's Earlington Gardens Addition, Division No. 1, according to the plat thereof recorded in Volume 17 of Plats, page 74, records of King County, Washington; except that portion of Lots 12 and 51 deeded to Washington State for highway purposes under Recording No. 5428-429; together with that portion of vacated alley adjoining as vacated by the City of Renton Ordinance No. 3324 which attached thereto by operation of law. Situate in the-County of King, State of Washington. F. Lots 10, 11, and 12, Block 22, Hillman's Earlington Gardens Addition to the City of Seattle, Division No. A, According to the plat thereof recorded in Volume 17 of plats, page 74, records of King County, Washington; except that portion of said Lot 12 conveyed to the State of Washington for highway purposes, by deed hearing Recording No. 1548719. Situate in the County of King, State of Washington. (b) Seller taking all necessary actions to retain the Good Chevrolet franchise and obtain approval to move it to the automall properties. Section 12. Purchaser's Contingencies The obligations of Purchaser under this Agreement are contingent upon the occurrence of the following, or waiver by Purchaser in writing, on or before the date of closing: (a) Receipt of and approval of such studies and/or environmental assessments or audits as may be deemed necessary by the Purchaser, and at the expense of the Purchaser, to determine the presence of any Hazardous Substances, or the release thereof which has resulted in or contributed to the need for remedial action under RCW Chapter 70.105D. REAL ESTATE PURCHASE AND SALE AGREEMENT PAGE 6 [00000-OOOOBA951200.008] 5/3/95 4:42 pm (b) The approval by the City Council of the City of Renton of the closing of this transaction. Section 13. Post Closing Lease Seller, at its option, may elect to waive the contingencies in Section 11 and lease the premises from Purchaser subsequent to closing pursuant to the terms of a lease.in the form attached hereto as Exhibit B (the "Lease"). In that event,Purchaser shall be entitled to possession of the premises upon expiration or earlier termination of the Lease. Seller: Purchaser: THE CITY OF RENTON -17 S S HOW L. SHE DAN (Date) Earl Clymer, My r (Date) ATTEST BY: DIANE . S ERIDAN (Date) Marilyn J. a en, (Date) City Clerk STATE OF WASHINGTON ) ) ss. COUNTY OF KING ) On this C)'Tt'i day of ,Gl 1995, before me, the undersigned, a Notary Public in and for the St to of Washington, duly commissioned and sworn, personally appeared C/vrxA�-$ .(/1�� /�r�r � , to me known to be the person who signed as I Ccs, C/e of THE CITY OF RENTON, the municipal corporation that executed the within and foregoing instrument, and acknowledged said instrument to be the free and voluntary act and deed of said municipal corporation for the uses and purposes therein mentioned, and on oath stated tha c was duly elected, qualified and acting as said officer of the municipal corpora on, that4k��was authorized to execute said REAL ESTATE PURCHASE AND SALE AGREEMENT PAGE [00000-OOOOBA951200.008] 5/3/95 4:42 pm instrument and that the seal affixed, if any, is the corporate seal of said municipal corporation. IN WITNESS WHEREOF I have hereunto set my hand and official seal the day and year first above written. Print me: T-8W/V57 Notary Public in and for the State of Washington, residing at ,am`lzs� My commission expires: I&-ll—q'7 STATE OF WASHINGTON ) ) ss. COUNTY OF KING ) On this /,;�11�-&y of 1995, before me, a Notary Public in and for the State of Washington, dull ommissioned and sworn, personally appeared HOWARD L. SHERIDAN, to me known to be the individual who executed the within and foregoing instrument, and acknowledged that he signed the same as his free and voluntary act and deed, for the uses and purposes therein mentioned. GIVEN UNDER my hand and official seal hereto affixed the day and year in this certificate first above written. Print Nam w Y Notary Public iii and for the State of Washington, residing My commission expires: STATE OF WASHINGTON ) ss. COUNTY OF KING ) On this -day of� 1995, before me, a Notary Public in and for the State of Wasfiumgton, y commissioned and sworn, personally appeared DIANE J. SHERIDAN, to me known to be the individual who executed the REAL ESTATE PURCHASE AND SALE AGREEMENT PAGE 8 [00000-OOOOBA951200.008] 5/3/95 4:42 pm 'rr✓ ...r within and foregoing instrument, and acknowledged that she signed the same as her free and voluntary act and deed, for the uses and purposes therein mentioned. GIVEN UNDER my hand and official seal hereto affixed the day and year in this certificate first above written. Print Nam Notary Public in and for the.State of. Washington, residing at My commission expires: REAL ESTATE PURCHASE AND SALE AGREEMENT PAGE 9 [00000-OOOOBA951200.008] 5/3/95 4:42 pm Nwe =-iIBIT A The land referred to in this commitment is situated in the county of King, state of Washington, and described as follows : PARCEL A: Lots 6 and 7, Block 1, Smither' s Sixth Addition to the Town of Renton, according to the plat thereof recorded in Volume 26 of Plats, page 47 in King County, Washington; TOGETHER WITH that portion of the alley adjacent to said Lot 6 vacated by City of Renton Ordinance Number 2779, which attached by operation of law. PARCEL B : Lot 1, Block 1, Motor Line Addition to Renton, according to the plat thereof recorded in Volume .9 of Plats, page 50, in King County, Washington. PARCEL C: Lots 2 through 5, inclusive, Block 1, Motor Line Addition to Renton, according to the plat thereo' recorded in Volume 9 of Plats, page 50, in King County, Was'-in PARCEL D: Lot 14 , Block 2, Motor Lin` Addition to Renton, according to the plat thereof recorded in Volume 9 or Plats, page 50, in King County, Washington; EXCEPT the east 6 feet thereo-f conveyed to the City of Renton for street purposes by deed recorded under Recording Number 910189 . PARCEL E : Lot 15, Block 2, Motor Line Addition to Renton, according to the plat thereof recorded in Volume 9 of Plats, page 50, in King County, Washington; EXCEPT the east 6 feet thereof conveyed to the City of Renton for street purposes by deed recorded under Recording Number 910200 . LEGAL DESCRIPTION, continued: PARCEL F: Lot 1, Block 2 , Motor Line Addition to Renton, according to the plat thereof recorded in Volume 9 of Plats, page 50, in King County, Washington, more particularly described as that part of Block 2 said Motor Line Addition to Renton, lying southerly of a line which is parallel with and 66 feet southerly from the southerly line of Lots 2 and 18 of said Block 2 . PARCEL G- Lots 16 and 17, Block 33 , Smither' s First Addition to the Town of Renton, according to the plat thereof recorded in Volume 9 of Plats, page 17, in King County, Washington; EXCEPT that portion of said Lot 16 conveyed to the City of Renton for street, alley and any other public uses and purposes by deed recorded under Recording Number 7401170345 . PARCEL H: Lots 18 through 21, inclusive, Block 33 , Smither' s First Addition to the Town of Renton, according to the plat thereof recorded in Volume 9 of Plats, page 17, in King County, Washington. LOT No. 1 consists of Parcels A, B and C also known as tax parcel numbers 784180-0035-00, 569600-0005-03 and 569600- 0010-06. LOT No.2 consists of Parcels D and E also known as tax parcel numbers 569600-0115-00 and 569600-0120-03. LOT No.3 consists of Parcel F also known as tax parcel number 569600-0050-07 . LOT No.4 consists of Parcels G and H also known as tax parcel numbers 783930-0305-08 and 783930-0315-06 . Exhibit B GROUND LEASE (WITH OPTION TO PURCHASE) THIS GROUND LEASE, made and entered into on the day of , 19___, by and between The City of Renton, a municipal corporation of the State of Washington ("Landlord"), and Howard and Diane Sheridan, or their assigns ("Tenant"). Landlord hereby leases and demises to Tenant, and Tenant hereby leases from Landlord, upon the terms and conditions set forth herein, the real property situated in the City of Renton, County of King, State of Washington, and more particularly described in Schedule 1 attached hereto and by this reference incorporated herein, together with all buildings, structures and other improvements now or hereafter located thereon and the appurtenances thereof(the "Premises"). In consideration of the foregoing and of the representations, warranties, covenants and conditions set forth herein, Landlord and Tenant further understand and agree that: Section 1. Term A. The term of this lease shall commence upon the date of its execution and shall end (unless extended pursuant to Section LB below) at 12:01 a.m. on the second (2nd) anniversary of the commencement date. B. Provided Tenant shall not then be in default hereunder, Tenant shall have the option to extend the term of this lease for five (5) successive terms of one (1) year each upon the same terms and conditions herein contained upon delivery by Tenant to Landlord of its written notice of such election at least ninety (90) days prior to the expiration of the term hereof or the expiration of first, second, third, or fourth renewal term, as the case may be. Section 2. Rent Tenant covenants and agrees to pay, as rent for said Premises, a monthly rent of Eight Thousand and 00/100 Dollars ($8,000.00) in lawful money of the United States in advance on the first day of each calendar month of the lease term, to Landlord or to such other party as Landlord may hereafter designate, commencing on the first day of the first full calendar month following the commencement of the term GROUND LEASE PAGE 1 [00000-0000/BA950930.056] 5/3/95 4:58 pm of this lease. In the event the term of this lease commences on a date other than the first day of the month, the minimum monthly rental for the last fractional month of the term of this lease shall be the monthly rental rate prorated in the proportion that the number of days of Tenant's tenancy during said fractional month bears to thirty (30) days. Section 3. Taxes and Assessments In addition to the rent set forth in Section 2 above, Tenant shall pay all of the real and personal property taxes and assessments levied or assessed against the Premises and improvements thereon for any period all of which is included in the lease term and also Tenant's pro rata share of all such taxes and assessments levied or assessed thereon for any period, only part of which is included in the lease term. This paragraph shall not be deemed or construed to require Tenant to pay or discharge any tax which may be levied by any governmental authority upon the income, profits or business of Landlord, or any personal property taxes, franchise, inheritance or estate taxes, or taxes upon inheritance or right of succession which may be levied against any estate or interest of Landlord, even though such taxes shall become a lien against the Premises. Landlord agrees that Tenant shall have the right, at Tenant's sole cost and expense, to contest the legality or validity of any of the taxes, assessments or other public charges which are to be paid by Tenant pursuant to the foregoing provisions, and in the event of any such contest, the failure on the part of Tenant to pay any such tax, assessment or other charge prior to the delinquency date thereof shall not constitute a default hereunder. Tenant, upon final determination of such contest, shall immediately pay and discharge any judgment rendered against it, together with all costs and charges incidental thereto. Landlord further agrees, at the request of Tenant, to execute, or join in the execution of, any instrument or documents necessary in connection with any such contest, but at no expense to Landlord. Section 4. Charges For Utilities Tenant shall pay prior to delinquency, all charges for utilities used on the Premises during the term of this lease. Landlord shall, at Tenant's reasonable request, grant to any utility company so requiring it such easements, rights-of-way or other rights as Tenant may deem necessary for the construction and use of the improvements contemplated herein. Section 5. Indemnity Tenant agrees to defend (including Landlord's reasonable attorneys' fees and costs), indemnify and hold Landlord harmless from and against any and all claims for GROUND LEASE PAGE 2 [00000-0000/BA950930.056] 5/3/95 4:58 pm damages due to injuries to or death of persons, or damage to property, while in, on, or about the Premises, to the extent such act or injury is due to or caused by the fault or negligence of Tenant or Tenant's agents. Tenant shall, at Tenant's expense, obtain and keep in force during the term of this Lease a policy of comprehensive public liability insurance insuring Landlord and Tenant against any liability arising out of the Tenant's use, occupancy, or maintenance of the Premises. Such insurance shall be in amount not less than $1,000,000 Combined Single Limit with respect to injuries to or death of persons, and/or destruction of or damage to property. Tenant may provide this insurance under a blanket policy provided said insurance shall have a landlord's protective liability endorsement attached thereto. Tenant shall deliver to Landlord certificates evidencing the existence and amounts of such insurance with loss payable clauses satisfactory to Landlord. No policy shall be cancelable or subject to reduction of coverage without prior written consent of Landlord. All such policies shall be written as primary policies not contributing with and not only in excess of coverage which Landlord may carry. Section 6. Improvements, Alterations, and Use Tenant accepts the Premises in their current condition, AS IS, WHERE IS, WITH ALL FAULTS AND DEFECTS. Tenant, at its sole cost and expense, shall have complete freedom to clear, grade, construct, operate, use, maintain, repair, remove, replace,,or otherwise act with respect to any facilities and any building or buildings, signs or any other improvements presently situated on the Premises, subject only to the obligations that may be imposed upon Tenant under the terms of this lease. During the term of the lease, Tenant shall have the right, at its sole cost and expense, to make whatever further changes it may deem necessary from time to time for the use of the Premises. For tax purposes, all such buildings, improvements, alterations, or repairs thereto shall be the sole property of Tenant during the lease term. Upon expiration of this lease term or any extensions thereof(other than by Tenant's purchase of the Premises), all building or improvements made to the Premises by Tenant during the term of this lease shall be removed by Tenant and the Premises shall be restored to the condition existing at the commencement of this lease in compliance with any then current and applicable Environmental Laws (as defined in Section 8), normal wear and tear excepted. GROUND LEASE PAGE 3 [00000-0000/BA950930.056] 5/3/95 4:58 pm _ err►° �..+' Section 7. Fixtures Tenant may, at its own cost and expense, place or install or cause to be placed or installed such electrical equipment and appurtenances, furniture and fixtures in and upon the Premises as Tenant in its sole discretion shall deem necessary or appropriate for the purpose of carrying on business upon the Premises. Tenant may, at its own expense thereafter at any time substitute, replace or cause to be substituted or replaced with items of comparable quality any or all of said signs, equipment, furniture and fixtures. All of said signs, equipment, furniture and fixtures shall, for the purpose of this lease, be treated as personal property, no matter how affixed, and at no time shall Landlord have any rights therein. Tenant shall repair any damage caused by Tenant's removal of such items and shall return the Premises to its condition prior to the removal. All utilities, lighting and other site improvements shall remain at least equal to their condition at the commencement of this lease, any removal of fixtures notwithstanding. Section 8. Maintenance, Repair and Environmental Compliance Landlord shall not be called upon to make any improvements or repairs in or upon the Premises during the Lease term. Tenant covenants and agrees to pay promptly when due all claims for work and materials furnished in connection with its construction or maintenance of improvements, and shall not permit or suffer any liens or encumbrances to attach to the Premises, and shall indemnify Landlord against loss therefrom. Tenant shall: (a) not place, hold, locate or dispose of any Environmental Contaminant on, under, or at the Premises in violation of any Environmental Laws: and (b) conduct its operations on or about the Premises in compliance with all Environmental Laws. For purposes of this lease, "Environmental Contaminant" means any harmful, dangerous, hazardous or toxic substance, material, waste, contaminant or pollutant, including, but not limited to, those substances, materials, wastes, contaminants or pollutants listed in the United States Department of Transportation Hazardous Materials Table (49 C.F.R. § 172.101) or by the United States Environmental Protection Agency as hazardous substances (40 C.F.R. Part 302 and amendments thereto), petroleum products and their derivatives, and such other substances, materials, wastes, contaminants or pollutants as are or may become regulated or GROUND LEASE PAGE 4 100000-000o/BA950930.0561 5/3/95 4:58 pm subject to cleanup authority under any Environmental Laws, including, without limitation, the State Model Toxic Control Act. For purposes of this lease, "Environmental Laws" means any and all state, federal, and local statutes, regulations and ordinances relating to the protection of human health or the environment. In addition, in particular, Tenant represents and warrants to the.Landlord that Tenant's use of the premises will not involve the release or disposal of any hazardous substance as defined by Sections 307(a) and 311(b)(2)(A) of the federal Clean Water Act, Section 300.1 of the Federal Resource Conservation and Recovery Act, Section 7 of the federal Toxic Substances Control Act, Section 102 of the federal Comprehensive Environmental Response Compensation and Liability Act, or similar provisions of Washington law. (i) Tenant shall use a high degree of care that no hazardous substance is released or disposed of on the Premises during the term of this lease by Tenant, its agents or assigns, or is introduced to the Premises by the act of any third party. (ii) . Landlord shall have no responsibility to the Tenant for remedial action under RCW 70.105D., in the event of such release of or disposition of any such hazardous substance on, in, or at the Premises during the term. (iii) Tenant shall indemnify and hold harmless the Landlord from any obligation or expense, including fees incurred by the Landlord for attorneys, consultants, engineers, laboratory testing charges, personal injury and/or natural resource damage claims, arising by reason of the release or disposition of any such hazardous substance upon the Premises during the term, including remedial action under RCW 70.105D, to the extent due to the act, omission, neglect or fault of Tenant, its agents or assigns. (iv) Tenant grants unto Landlord the right to enter the Premises for the purpose of monitoring Tenant's activities and/or to conduct tests for the purpose of determining whether hazardous substances are present or have been released upon the Premises, or to take remedial action, if deemed necessary by Landlord. Except in cases of emergency, such right of entry shall be exercised during ordinary business hours and upon reasonable prior notice given to Tenant. (v) Tenant agrees to notify Landlord immediately in the event that any hazardous substances should at any time be determined to be released upon the Premises, or that Tenant shall receive any notice of an inspection, GROUND LEASE PAGE 5 100000-0000/BA950930.0561 5/3/95 4:58 pm regulatory order, fine or other penalty imposed by any authority relating to the presence or release of hazardous substances upon the Premises. (vi) Upon termination of this lease, Tenant agrees, if requested by Landlord, to conduct at its expense a Phase I environmental audit to determine whether hazardous substances have been released or disposal of upon the Premises as a result of Tenant's tenancy. Furthermore, upon termination of this lease, Tenant agrees, at the request of Landlord, to remove from the Premises any structures, including, but not limited to, underground storage tanks, which are contaminated with, or have been used in connection with, hazardous substances during Tenant's tenancy. (vii) Tenant agrees to promptly remedy any hazardous waste contamination discovered to exist at any time upon the Premises as a result of a release or disposal of hazardous substances during the term of this lease, and to pay to Landlord any damages incurred by Landlord in connection with the remediation of any hazardous substance contamination discovered, and expenses for ongoing mitigation or monitoring of the Premises. Such expenses shall, at the option of Landlord, be considered to be additional rental to be paid by Tenant to Landlord. (viii) Notwithstanding the right of entry for inspection and testing purposes granted above, Landlord shall have no obligation to perform any remedial or monitoring action relating to the presence of or release of hazardous substances upon the Premises. (ix) The representations, covenants and obligations of this paragraph shall survive the termination of this lease. Section 9. Damage or Destruction In the event that any of the improvements on the Premises are damaged, destroyed or lost as the result of any casualty which is fully insured as a result of any fire and extended coverage insurance maintained by Tenant, Tenant shall forthwith repair, restore and reconstruct said damaged or destroyed improvements with the proceeds of said insurance. There shall be no abatement of rent during the repairs, restoration or reconstruction contemplated by this subparagraph. Section 10. Condemnation A. The term "condemnation" as used in the lease shall mean the exercise of the power of eminent domain by any person, entity, body, agency or authority (including, without limitation, Tenant), or private purchase in lieu of eminent domain, GROUND LEASE PAGE 6 [00000-0000/BA950930.0561 5/3/95 4:58 pm *4W and the date of condemnation shall mean the day on which the actual physical taking of possession pursuant to the exercise of said power of eminent domain, or private purchase in lieu thereof, occurs, or the date of settlement or compromise of the claims of the parties thereto during the pendency of the exercise of said power, whichever first occurs, and property is deemed "condemned" on said date. B. In the event only a part of the Premises is so taken and the remaining part thereof, in Tenant's opinion, remains reasonably suitable for Tenant's continued use of the property as an automobile dealership or such other occupancy and use as Tenant may then be making of the Premises, this lease shall, as to the part so taken, terminate on the date of condemnation, and the monthly rent shall thereupon be reduced in the same proportion that the number of square feet of the Premises so taken bears to the original number of square feet of the Premises. C. Landlord and Tenant shall each be entitled to receive and retain such separate awards and portions of lump sum awards including severance damages, if any, as may be allocated to their respective interests in any condemnation proceedings. Tenant shall.also be entitled to any award made to it for depreciation to or loss of and cost of removal of furniture, fixtures, equipment, inventory, buildings and other improvements. Termination of this lease shall not affect the rights of the respective parries to such awards. D. Each party agrees to execute and deliver to the other all instruments that may be required to effectuate the provisions of this paragraph. Section 11. Assignment and Subletting Tenant shall have the right to assign this lease and to sublet all or any part of the Premises upon giving Landlord fifteen(15) days' written notice of its intention to do so.. Provided, however, (i) any assignment or sublease other than to Good Properties, Inc., Good Chevrolet, an affiliate of them or other entity controlled by Howard and Diana Sheridan or their children shall require Landlord's written approval, which shall not be unreasonably withheld, and (ii) that any such assignment or subletting shall not relieve Tenant of any of its obligations under this lease unless Landlord shall agree in writing to relieve Tenant of said obligations. GROUND LEASE PAGE 7 [00000-0000/BA950930.0561 513/95 4:58 pm 'w Section 12. Tenant's Option to Purchase In the event Tenant determines it will not, prior to expiration of the term, relocate Tenant's automobile dealership to the "automall property," more particularly described as follows: A. Lots 1, 2, 3, 4, 5, 6, 7, 8, and 9, Block 27, C, D, Hillman's Earlington Gardens Addition, Division No. 1 according to the plat recorded in Volume 17 of Plats, page 7, in King County, Washington. B. Lots 50-57, Block 27, Hillman's Earlington Gardens #1 situated in the NW 1/4 19-23-05. Also known as King County tax Assessor's 334040-4641, 4655, and 4665. C. Lots 2 through 9, 12 through 15, 47 through 51 of Hillman's Earlington Gardens Division#1 of plats, Block 21, as recorded in Volume 17 of Plats, page 74; and Lots 1 through 9 and 54 through 62 of Hillman's Earlington Gardens Division #1 of plats, Block 26, as recorded in .Volume 17 of plats, page 74; and Lots 29 and 30 of Hillman's Earlington Gardens Division#1 of plats, Block 17, as recorded in Volume 17 of Plats, page 74; and Lots 1 and 2 of Hillman's Earlington Gardens Division#1 of plats, Block 22, as recorded in Volume 17 of Plats, page 74; records of King County, Washington. D. Lots 3 through 9 and Lots 46 through 47 of Hillman's Earlington Gardens Division#1 of plats, Block 22, as recorded in Volume 17 of Plats, page 74; Except that portion of Lots 46 and 47 conveyed to the State of Washington for road by instrument recorded under King County Auditor's File No. 5441280; E. Lots 10, 11 and 12, 51, 52, and 53, Block 26, C. D. Hillman's Earlington Gardens Addition, Division No. 1, according to the plat thereof recorded in Volume 17 of Plats, page 74, records of King County, Washington; except that portion of Lots 12 and 51 deeded to Washington State for highway purposes under GROUND LEASE PAGE 8 [00000-0000/BA950930.056] 5/3/95 4:58 pm lose Recording No. 5428-429; together with that portion of vacated alley adjoining as vacated by the City of Renton Ordinance No. 3324 which attached thereto by operation of law. Situate in the County of King, State of Washington. F. Lots 10, 11, and 12, Block 22, Hillman's Earlington Gardens Addition to the City of Seattle, Division No. A, According to the plat thereof recorded in Volume 17 of plats, page 74, records of King County, Washington; except that portion of said Lot 12 conveyed to the State of Washington for highway purposes, by deed hearing Recording No. 1548719. Situate in the County of King, State of Washington. then Tenant shall, upon expiration of the term (or such earlier date as Tenant shall specify), purchase the Premises from Landlord for Nine Hundred Thousand and 00/100 Dollars ($900,000.00) (the "Option Purchase Price"). Tenant shall exercise this option by placing notice of its intention to do so in the United States mail, registered, and addressed to Landlord's last known address. Landlord shall, within fifteen (15) days of receipt of the same, deposit in escrow with a title insurance company authorized to do business in King County, Washington (with notice to Tenant), (i) a good and sufficient warranty deed to said real property conveying the same to Tenant free and clear of any and all encumbrances, save and except encumbrances created on the face of Landlord's original deed from Tenant, or by reason of this lease agreement or any acts of Tenant committed subsequent to the date of this lease, (ii) a properly prepared real estate excise tax affidavit, signed by Landlord, and (iii) escrow instructions to deliver said deed to Tenant, together with a policy of title insurance insuring Tenant's title (the premium for said title insurance to be paid by Landlord), upon receipt of the Option Purchase Price in cash. Tenant shall pay recording fees, Landlord shall pay real estate excise tax, if any, and real property taxes shall be prorated as of the date the deed is delivered (provided that Landlord's pre-deed-delivery tax obligations under this Section 12 do not diminish or alter any of Tenant's obligations under Section 3 of this lease). The transaction shall be closed and the funds paid to Landlord within one hundred twenty (120) days after the deposit of the foregoing deed in escrow by Landlord. Section 13. Landlord's/Tenant's Rights Upon Default Any payment not made when due hereunder shall bear interest at the rate of twelve percent (12%) per annum until paid. Moreover, should default be made in the payment of any rent or other amount payable hereunder by Tenant when due, or should Tenant or its officers, agents or employees violate any of the other terms, conditions or provisions of this lease, Landlord may, at its option, at any time after GROUND LEASE PAGE 9 [00000-0000/BA950930.0561 5/3/95 4:58 pm expiration of thirty (30) days following the delivery to Tenant of a written notice specifying the default or defaults by Tenant then existing hereunder, and Tenant's failure to cure same within thirty (30) days of notice, reenter and take possession of the Premises, remove Tenant's property therefrom, relet said premises or any part thereof on such terms, conditions and rentals as Landlord may deem proper, and, at Landlord's option, either terminate and cancel this lease, or apply the proceeds that may be obtained from said reletting, after deduction of costs and expenses, to the rent reserved under this lease, and hold Tenant liable for any balance of rent reserved hereunder which may remain unsatisfied and unpaid. Should Landlord breach any covenant, warranty, term or obligation under this lease on Landlord's part to be performed,Tenant may at its option, at any time after expiration of thirty (30) days following the delivery to Landlord of a written notice specifying the default or defaults by Landlord then existing hereunder, and Landlord's failure to cure same within thirty (30) days of notice, (i) terminate this lease, whereupon all advance rental here under shall be returned forthwith to Tenant, and all obligations of Tenant shall terminate forthwith or (ii) pursue any other remedy available to Tenant at law or in equity, including, without limitation, specific performance. Section 14. Warranty of Clear Title Landlord covenants and warrants that Landlord has full right to lease the Premises to Tenant. Landlord further covenants that it will put Tenant into complete and exclusive possession of the Premises, free from all orders and notices of violations of any public authority, and free from all tenancies and occupancies and violations and assessments of any taxes or other obligations noted or existing in or filed with any federal, state, county, municipal or other authority including assessments of any local improvement district, and that the Premises are free of all encumbrances save and except encumbrances created on the face of Landlord's original deed from Tenant, or by reason of the Real Estate Purchase and Sale Agreement between Landlord and Tenant dated , or any acts of Tenant. Landlord agrees that Tenant may seek to obtain from time to time any zoning changes, use permits, variances and other federal, state or local permits, licenses, authorizations and approvals with respect to the Premises which Tenant may desire. In performing this agreement, provided Tenant bears associated costs, Landlord will permit any required petition to be submitted in Landlord's name. However, nothing in this zoning agreement binds Landlord to exercise its police power to approve a zoning change or issue a permit or approval requested by Tenant. GROUND LEASE PAGE 10 (00000-0000/BA950930.056] 5/3/95 4:58 pm ryrr rwr� Section 15. Holding Over In the event Tenant shall continue to occupy the Premises after the expiration of the term hereof, such holding over shall be deemed to have created a month-to- month tenancy, subject to all the terms and conditions of this lease, at a monthly rent (payable on the first day of each calendar month) of Ten Thousand and 00/100 Dollars ($10,000.00). Section 16. Notices All notices and other communication required under this lease shall be in writing and delivered either personally or by depositing the same, postage prepaid, in the United States mail addressed to the party hereto to whom the same is directed at the following address: To Tenant: Howard Sheridan c/o Good Chevrolet P.O. Box 935 3rd and Burnett Renton, WA 98057 To Landlord: City of Renton 200 Mill Avenue South Renton, WA 98057 Attn: Sue Carlson Either party hereto may from time to time change its mailing address by written notice to the other. Section 17. Waiver The waiver by either party hereto of any breach of any term, covenant or conditions of this lease to be performed by the other, shall not be deemed to be a waiver of any subsequent breach thereof. Section 18. Successors The terms, covenants and conditions herein contained shall inure to the benefit of the heirs, administrators, executors, successors and assigns of each of the parties hereto. GROUND LEASE PAGE 11 100000-0000/BA950930.0561 5/3/95 4:58 pm Section 19. Right to Mortgage Tenant shall at all times have the right to encumber by mortgage or deed of trust, or other proper instrument in the nature thereof, as security for any actual bona fide debt, its leasehold estate hereby created,or any portion thereof, together with its leasehold right and interest in and to all buildings and improvements and its interest in any equipment located on the Premises. If at any time after the execution and recordation in the proper records of the County in which the Premises are located of any such mortgage or deed of trust, the mortgagee or trustee therein shall elect to notify Landlord in writing that such mortgage or deed of trust has been executed and delivered by Tenant and shall furnish Landlord with the address to which said mortgagee or trustee desires copies of notices to be mailed, then Landlord hereby agrees that it will thereafter mail to such mortgagee or trustee at the address so given a duplicate copy of any and all notices in writing which Landlord may from time to time give or serve upon Tenant under and pursuant to the terms and provisions of this lease. Such mortgagee or trustee may, at its option, at any time before the rights of Tenant shall have been forfeited to Landlord as herein provided, pay any of the rents due hereunder, or do any other act or thing required of or permitted to Tenant by the terms of this lease, to prevent the forfeiture or termination of this lease, and all payments also made and all things so done and performed by or for any such mortgagee or trustee shall be as effective to prevent a forfeiture of the rights of Tenant hereunder as the same would have been if done and performed by Tenant. No such mortgagee or,trustee of the rights and interest of Tenant hereunder shall be or become liable to Landlord as an assignee of this lease or otherwise unless it expressly assumes the liability of Tenant and no assumption shall be inferred from or shall be the result of foreclosure or other appropriate proceedings in the nature thereof or shall be the result of any other action or remedy provided for by such mortgage or deed of trust. Section 20. Quiet Enjoyment If and so long as Tenant shall pay the rent reserved under this lease whenever the same shall become due and payable and shall observe all of the covenants and agreements required by it to be observed during the term of this lease and shall perform all of its other obligations hereunder, Landlord agrees that it will not interfere with the peaceful and quiet occupation and enjoyment of the Premises by Tenant, which occupation and enjoyment shall be without hindrance, ejection or molestation by Landlord or anyone claiming by, through or under Landlord. GROUND LEASE PAGE 12 (00000-0000/BA950930.056] 5/3/95 4:58 pm we Section 21. Commission Each of Landlord and Tenant warrants that, to the best of its knowledge, no real estate sales commission is or will become due and payable as a result of the successful conclusion of this lease. Section 22. Memorandum of Lease Landlord and Tenant shall execute and acknowledge in recordable form a short form memorandum of Lease consistent with the terms of this Lease, sufficient to give notice of the leasehold estate, option to purchase and right of first refusal hereby created,which short form shall be recorded at Tenant's expense. IN WITNESS WHEREOF, Landlord and Tenant have each caused this lease to be executed as of the day and year first above written. Landlord: The City of Renton By Its Tenant: Howard & Diana Sheridan or Assigns By By- GROUND y.GROUND LEASE PAGE 13 (00000-0000/BA950930.056] 5/3/95 4:58 pm y . v STATE OF WASHINGTON ) ss. COUNTY OF ) On this day of , 19_, before me, a Notary Public in and for the State of Washington, duly commissioned and sworn, personally appeared , to me known to be the individual who executed the within and foregoing instrument, and acknowledged the said instrument to be his free and voluntary act and deed, for the uses and.purposes therein mentioned. GIVEN UNDER my hand and official seal the day and year in this certificate above written. Print Name: Notary Public in and for the State of Washington, residing at My commission expires: STATE OF WASHINGTON ) ss. COUNTY OF ) On this day of 119 before me, the undersigned, a Notary Public in and for the State of Washington, duly commissioned and sworn, personally appeared to me known to be the person who signed as of , the corporation that executed the within and foregoing instrument, and acknowledged 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 was duly elected, qualified and acting as said officer of the corporation, that he was authorized to execute said instrument and that the seal affixed, if any, is the corporate seal of said corporation. WITNESS my hand and official seal hereto affixed the day and year in this certificate above written. Print Name: Notary Public in and for the State of Washington, residing at My commission expires: GROUND LEASE PAGE 14 [00000-0000/BA950930.056] 5/3/95 4:58 pm A SCHEDULE 1 The land referred to in this commitment is situated in the county of * King, state of Washington, and described as follows : PARCEL A: Lots 6 and 7, Block 1, Smither's Sixth Addition to the Town of Renton, according to the plat thereof recorded in Volume 26 of Plats, page 47 in King County, Washington; TOGETHER WITH that portion of the alley adjacent to said Lot 6 vacated by City of Renton Ordinance Number 2779, which attached by operation of law. PARCEL B : Lot 1, Block 1, Motor Line Addition to Renton, according to the plat thereof recorded in Volume .9 of Plats, page 50, in King County, Washington. PARCEL C: Lots 2 through 5, inclusive, Block 1, Motor Line Addition to Renton, according to the plat thereof recorded in Volume 9 of Plats, page 50, in King County, Washington. PARCEL D: Lot 14, Block 2, Motor Line Addition to Renton, according to the plat thereof recorded in Volume 9 of Plats, page 50, in King County, Washington; EXCEPT the east 6 feet thereof conveyed to the City of Renton for street purposes by deed recorded under Recording Number 910189 . PARCEL E: Lot 15, Block 2, Motor Line Addition to Renton, according to the plat thereof recorded in Volume 9 of Plats, page 50, in King County, Washington; EXCEPT the east 6 feet thereof conveyed to the City of Renton for street purposes by deed recorded under Recording Number 910200 . r d LEGAL DESCRIPTION, continued: PARCEL F: Lot 1, Block 2, Motor Line Addition to Renton, according to the plat thereof recorded in Volume 9 of Plats, page 50, in King County Washington, more particularly described as that part of Block 2 said Motor Line Addition to Renton, lying southerly of a line which is parallel with and 66 feet southerly from the southerly line of Lots 2 and 18 of said Block 2 . PARCEL G: Lots 16 and 17, Block 33 , Smither' s First Addition to the Town of Renton, according to the plat thereof recorded in Volume 9 of Plats, page 17, in King County, Washington; EXCEPT that portion of said Lot 16 conveyed to the City of Renton for street, alley and any other public uses and purposes by deed recorded under Recording Number 7401170345 . PARCEL H: Lots 18 through 21, inclusive, Block 33 , Smither' s First Addition to the Town of Renton, according to the plat thereof recorded in Volume 9 of Plats, page 17, in King County, Washington. LOT No. 1 consists of Parcels A, B and C also known as tax parcel numbers 784180-0035-00, 569600-0005-03 and 569600- 0010-06 . LOT No.2 consists of Parcels D and E also known as tax parcel numbers 569600-0115-00 and 569600-0120-03 . LOT No.3 consists of Parcel F also known as tax parcel number 569600-0050-07 . LOT No.4 consists of Parcels G and H also known as tax parcel numbers 783930-0305-08 and 783930-0315-06 . May 22, 1995 Renton City Council Minutes Page 212 In response to Councilman Tanner's question regarding the potential effect on property values in Area A, Sue Carlson, Economic Development Director, stated that the ordinance has created a demand for property, and land values seem to be rising. Ms. Carlson cited examples of increases in land values in the area. Councilman Stredicke noted his opposition to rezoning property without the concurrence of the property owner. He added that the CA zone already allows auto-related uses, so the overlay district is unnecessary. There being no further public comment, it was MOVED BY EDWARDS, SECONDED BY KEOLKER-WHEELER, COUNCIL CLOSE THE PUBLIC HEARING. CARRIED. MOVED BY EDWARDS, SECONDED BY KEOLKER-WHEELER, COUNCIL DENY RECONSIDERATION OF THE AUTOMALL ORDINANCE.* Councilman Tanner was concerned that unless the proposed use restrictions for Area A increase property values, the ordinance would have the unacceptable result of requiring private property owners to subsidize the creation of an automall. He opposed the motion as it seemed that the ordinance's sole purpose was to force property owners in Area A to sell their land. Councilman Corman viewed the ordinance as consistent with standard zoning objectives to achieve predictability. He also believed it would raise property values and stimulate a resurgence of economic activity in this area, noting he has seen no evidence indicating this would not be the case. Responding to Councilman Corman, Ms. Lind said if the building referred to in the letter from Ms. Kupferer (Professional Assistants) is used solely for office use, it is already non-conforming in the CA zone without the automall district. *MOTION CARRIED TO DENY RECONSIDERATION OF THE AUTOMALL ORDINANCE. (See page 216 for ordinance.) AUDIENCE COMMENT Jim Moncrief, 248 Garden Ave. N., Renton, 98055, raised several questions Citizen Comment: regarding Council's decision to authorize the purchase of several parcels Moncrief - Good downtown owned by Howard Sheridan (Good Chevrolet). In particular, he __Chevrolet Property wanted to know who notified the City that Good Chevrolet was considering Purchase; Cougcil Ethics moving to Tukwila; when this move was supposed to take place; whether this notification was made in writing; whether a written appraisal was available for ' X� i ON these properties and if so, who performed it; how much will be lost in annual t1J11'* property taxes; did Good Chevrolet indicate that the City's refusal to purchase the downtown parcels would result in it moving to Tukwila; and what were Good Chevrolet's purported incentives for moving to Tukwila. He doubted whether Renton residents would endorse the City buying land in the downtown area, or adding to the City's indebtedness. Mr. Moncrief then alleged improprieties on the part of unnamed Councilmembers, emphasizing that Councilmembers are required to avoid not only conflict of interest, but any appearance of conflict of interest. Responding to Councilman Corman, Mr. Moncrief claimed that Council's action on the Good Chevrolet purchase as well as its action this evening to deny reconsideration of the Automall Ordinance were in some way motivated by conflict of interest concerns. May 22, 1995 Menton City Council Minutes Page 213 Councilman Stredicke objected to the ambiguity of Mr. Moncrief s remarks, saying that any accusations of improper behavior by a Councilmember should be specific so as not to asperse the entire Council. Following further discussion, Mr. Moncrief denied implying that any Councilmember owns property in the Automall area or in the area of Good Chevrolet. Citizen Comment: Staley - Caren Staley, PO Box 3407, Federal Way, WA, 98063, said the appraisals Automall Ordinance referred to for property in the automall area are incorrect, as the going rate is lower than previously stated. Ms. Staley inquired what her recourse was regarding Council's decision to deny reconsideration of the ordinance. Assistant City Attorney Zanetta Fontes stated that Ms. Staley can appeal Council's decision to Superior Court. Citizen Comment: Pierotti Richard Pierotti, 14637 SE 172nd, Renton, 98058, thanked Council for its - Automall Ordinance decision denying reconsideration of the automall ordinance. He felt an automall would be the highest and best use of these properties and that property values will rise because of the ordinance. He concluded that the City's decision to create an automall was a solid move for Renton's future. CONSENT AGENDA Items on the consent agenda are adopted by one motion which follows the listing. Planning: Lee Short Plat Property Services Division requested acceptance of a Deed of Dedication for a Deed of Dedication for right-of-way on the southwest corner of NE 10th St. and Anacortes Ave. NE Right-of-Way from Marion and Erica Lee in connection with a sidewalk that was built as a requirement of the completed Lee Short Plat. Refer to Transportation Committee. Solid Waste: Local Solid Waste Utility Division submitted proposed agreement with the Seattle- Hazardous Waste King County Department of Public Health to accept $15,087 for the Local Management Program, Hazardous Waste Management Program. Refer to Utilities Committee. King County, CAG-95- LID: 337, Dayton Ave NE Wastewater Utility Division submitted Dayton Ave. NE Sanitary Sewers Local Sanitary Sewers Improvement District Final Assessment Roll (LID #337), in the final amount of $112,456.06, and requested that a public hearing be set for 6/19/95 to discuss adopting the final assessment roll. Council concur. SAD: 00-14, Dayton Ave Wastewater Utility Division submitted Dayton Ave. NE Sanitary Sewers NE Sanitary Sewers (see Special Assessment District Final Assessment Roll (SAD #00-14), in the final LID 337) amount of $11,837.48, and requested that a public hearing be set for 6/19/95 to discuss adopting the final assessment roll. Council concur. MOVED BY NELSON, SECONDED BY EDWARDS, COUNCIL APPROVE THE CONSENT AGENDA AS PRESENTED. CARRIED. CORRESPONDENCE Correspondence was read from David L. Halinen, 10500 NE 8th St., Bellevue, Citizen Comment: Halinen 98004, requesting that Council grant Maplewood-area residents another - Maple Valley Hwy opportunity to provide input on the installation of a stoplight at Monroe Ave. Improvements N. and SR-169 (Maple Valley Highway). MOVED BY EDWARDS, SECONDED BY STREDICKE, COUNCIL REFER THIS CORRESPONDENCE TO THE TRANSPORTATION COMMITTEE. CARRIED. CIT'Sc A" NTM Office of the City Attorney Earl Clymer, Mayor Lawrence J.Warren MEMORANDUM To: Sue Carlson, Economic Development Specialist From: Lawrence J. Warren, City Attorney Date: May 18, 1995 Subject: Extended Policy of Title Insurance on Sheridan Property - This memo is to confirm how the City has decided to approach the issue of a survey of the Sheridan property. The survey is necessary for an extended title policy which we negotiated in the Sheridan deal. The survey would slow up the closing on the Sheridan parcel and consequently delay-the Sheridan closing on the Pierotti property. Mrs. Pierotti is not willing to wait much longer, and so any delay is a problem. I called the title company and spoke with Mike Beckman. Mike indicated that the title company could issue a regular policy of title insurance with its standard exception as to encroachments and other title problems that could be disclosed by a survey. The City could then provide the survey at a later time and the policy could be issued as an extended policy. If there are any encroachments disclosed by the survey, the City will have already bought the problem. However, we will then fully understand the problem. Because of the timing on this transaction I thought this to be the most advantageous approach. We discussed this topic at the Mayor's staff meeting and the consensus was to proceed as roposed in this memo. Lawrence J arren LJW: cc: Xayor Earl Clymer Jay Covington A8:114.05. Post Office Box 626 - 100 S 2nd Street - Renton, Washington 98057 - (206)255-8678 This paper cortains 50°.recycfed material,25-b post consumer �; .'i *100, CIT F RNTOI� Office of the City Attorney Earl Clymer, Mayor Lawrence J. Warren May 18, 1995 Mr. R. Gerard Lutz PERKINS COIF 411 108th Avenue N.E.;#1800 Bellevue,Washington 98004 Re: Sheridan Transaction Dear Jerry: This letter is pursuant to section 3 of the Real Estate Purchase and Sale Agreement. I have reviewed the, preliminary title commitment and have the following comments: 1. On Title Exception No. 2, the City wishes to have an assignment of the permit to use a portion of the Cedar River Pipeline right of way at the point in time when the Sheridan are no longer occupying the properties that the City is buying. 2. All taxes must be prorated as of the date of closing- 3. The Deed of Trust in Exception No. 13 to General Motors Acceptance Corporation must be released as to the properties the City is purchasing. 4. The unrecorded leases must be satisfied in some way that are under Exceptions 14 and 15. This may be somewhat difficult for the Loberg Oldsmobile Exception. 5. Exception No. 18 concerning matters of record against undisclosed general partners must be removed prior to closing. I have contacted Mike Beckman at Chicago Title and told him that we would prefer to have a regular policy issued with the encroachment questions and survey requirement remaining until such time as we can obtain the survey in the normal course of business. He has indicated that this is acceptable. As an aside, Howard Sheridan pointed out to me that his wife's name was misspelled on the signature block in the Ground Lease. Before that document is executed that minor change needs to be made. Very t yours, c Lawrence J. arren LJW:as./ ce: VMayor Earl Clymer Jay Covington A8.114.02. Post Office Box 626 - 100 S 2nd Street - Renton, Washington 98057 - (206)255-5678 ® This paper contains 50*o recycled material,25':post consumer May 15. 1995 *,,1 Renton City Council Minutes 1%0 Pan 204 however, and hopes that sufficient cost savings will be realized to permit installation of the third wall. Councilman Stredicke added that although a ramp metering system will be included in the construction of this project, the system will not be activated without permission from the Renton City Council. Councils Downtown Commenting on last week's Council decision to purchase property in the Property Purchase (Good downtown (Good Chevrolet), Councilman Corman relayed a constituent's Cfievrolet) suggestion that when the City is considering purchasing property, it should first secure an option to purchase at an agreed-upon price. This would allow ` �_ potential purchases to be discussed openly with a chance for public input, ���,Mwrk ` without affecting negotiations on purchase prices. EXECUTIVE SESSION MOVED BY SCHLITZER, SECONDED BY KEOLKER-WHEELER, COUNCIL RECESS INTO EXECUTIVE SESSION FOR 10 MINUTES TO DISCUSS LITIGATION. CARRIED. Time: 8:07 p.m. The meeting was reconvened at 8:17 p.m.; roll was called; all Councilmembers present. ADJOURNMENT MOVED BY STREDICKE, SECONDED BY TANNER, COUNCIL ADJOURN. CARRIED. Time: 8:17 p.m. bre BRENDA FRITSVOLD, Deputy City Clerk Amends ORD 4487 CITY OF RENTON, WASHINGTON ORDINANCE NO. 4516 AN ORDINANCE OF THE CITY OF RENTON, WASHINGTON, APPROPRIATING FUND FOR THE PURPOSE OF ACQUIRING PROPERTY AND PROVIDING FOR AMENDING THE 1995 BUDGET. WHEREAS, the City Council of Renton, Washington has deemed it necessary to purchase property; and WHEREAS, the City of Renton has the funds to purchase the property; and WHEREAS, it is necessary to amend the 1995 Budget to permit the acquisition; NOW, THEREFORE, THE CITY COUNCIL OF THE CITY OF RENTON WASHINGTON DO ORDAIN AS FOLLOWS: SECTION I. The following adjustments are hereby allowed and established in each of the following funds : Fund Action Amount Amended Budget Expenditures 103 Street Fund Operating Transfer Out 200,000 4,791,141 215 General Govt Misc Debt Service Expenditure 16,000 1,049,603 316 Municipal Facilities CIP Expenditure of Funds 707,000 3,469,546 Revenue 316 Municipal Facilities CIP Operating Transfer In 200,000 1,890,389 SECTION II . A list of all individual budget adjustments is available for public review in the Office of the City Clerk, Renton Municipal Building. ORDINANCE NO. 4516 SECTION III. This ordinance shall be effective upon its passage, approval, and five days after publication. PASSED BY THE CITY COUNCIL this 8th day of May, 1995 . )2u . "', Mari lyntersen, City Clerk APPROVED BY THE MAYOR this 8th day of May, 1995 . �i Ear Clymer, Mayp Approved to form: l La nce J. War , City Attorney Date of Publication: May 12, 1995 ORD. 457 :5/3/95 :as . 2 CITY OF RENTON 1995 BUDGET ADJUSTMENTS DepU7,11 As of 518/x5 q1v genal tkxl e 1995 . Revenu (ticp 999$ 13ud et: Atl' in Is Ad stmnt 'Ad)t3ud el> FUND 103-STREET FUND Beginning Fund Balance 103 000000 000 3080 0000 00 000000 1,711,983 1,711,983 REVENUES: 1995 Budgeted Revenues 4,460,544 4,460,544 T AL::. ES::&BEGFN:fUNq R>.. CE 6,1:72:527 EXPENDITURES: Operating Transfers Out 103 000000 016 5970 0047 55 000095 0 200,000 200,000 Other Budgeted Expenditures 4,591,141 4,591,141 Total Expenditures 4,591,141 200,000 4,791,141 Endm Fund Balance 103 000000 000 5080 0000 00 000000 1,581,386 (200,000) 1,381,386 >: STC ?: 3fPE.R:;URESB EN FUNDi3ALANCE i; 6,1721$27 290.000 s:6,1X2152 FUND 215-GENERAL GOVT MISCELLANEOUS DEBT Beginning Fund Balance 215 000000 000 3080 0000 00 000000 378,228 0 378,228 REVENUES: 1995 Budgeted Revenues 900,600 0 900,600 TATAL REVEN ES&BEGIN FUND BALANCE 1,274,828: 0 r 1 2X8 828 EXPENDITURES: Sheridan Property/Principal 215 000000 033 5910 0019 75 000095 0 12,837 12,837 Sheridan Property/Interest 215 000000 033 5920 0019 83 000095 3,163 3,163 1995 Budgeted Expenditures 1,033,603 0 1,033,603 Total Expenditures 1,033,603 16,000 1,049,603 Ending Fund Balance 215 000000 000 5080 0000 00 000000 245,225 (16,000) 229,225 TOTAL EXp>~Nq(T11R.ES ENq:FUN4 BALANCE 278 828 p i 278 828 FUND 316-MUNICIPAL FACILITIES CIP Beginning Fund Balance 316 000000 000 3080 0000 00 000000 1,837,751 0 1,837,751 REVENUES: Trf-In fm 103 Street Fund 316 000000 000 3970 0000 00 000095 0 200,000 200,000 1995 Bud eted Revenues 1,690,389 0 1,690,389 TOT 200;REVEf S BEGtN:FIJNq 9Atr�NCE 3 52$140 QOA A 728#40 EXPENDITURES: Downtown Public Square Acquisition 316 000000 020 5940 0076 61 000095 0 707,000 707,000 1995 Adopted Expenditures 2,762,546 2 762 546 Total Expenditures 2,762,546 3,469,546 Endiri Fund Balance 316 000000 000 5080 0000 00 000000 765,594 200,000 (707,000) 268,694 EXPMgtTLkEtS&, iD.FUNDBfAIf�NG£ 3,526,149. 20Q,t)00 (707,000) :3,78,140: H:Tudget\1995\Carryfd\PROPORD.XLS Pagel 5/3/95 May 8. 1995 .penton City Council Minutes ....r Page 195 ROLL CALL: SIX AYES (SCHLITZER, TANNER, KEOLKER-WHEELER, NELSON, EDWARDS, CORMAN), ONE NAY (STREDICKE). CARRIED. Ordinance #4515 An ordinance was read providing for 1995 budget amendments in the total Budget: 1995 Amendments amount of $41,422,289, and dissolving: the Federal Shared Revenue Fund; the Street Forward Thrust Fund; the Gene Coulon Beach Park Construction Fund; the 1973 Airport Revenue Bonds Fund; the 1975 Water and Sewer Construction Fund; the 1977 Water and Sewer Refunding Bonds/Issue No. 2; the 1977 Water and Sewer Refunding Bonds/Issue No. 3; the Local Improvement Guaranty Fund; the Motor Vehicle Intoxication Fund; the Municipal Court Witness Fee Revolving Fund, and the Local Improvement District (LID) Control Fund. MOVED BY SCHLITZER, SECONDED BY EDWARDS, COUNCIL ADOPT THE ORDINANCE AS PRESENTED. ROLL CALL: SIX AYES (SCHLITZER, STREDICKE, KEOLKER- WHEELER, NELSON, EDWARDS, CORMAN), ONE NAY (TANNER). CARRIED. The following ordinance was presented for first reading and advanced to second and final reading: Budget: 1995, Adjustment An ordinance was read appropriating funds in the amount of $707,000 for the for Prnperty A muisitign _purpose of acquiring property in the proposed downtown public square area (Good Chevrolet) and providing for amending the 1995 budget. MOVED BY KEOLKER- WHEELER, SECONDED BY SCHLITZER, COUNCIL ADVANCE THE ORDINANCE TO SECOND AND FINAL READING. ROLL CALL: FOUR AYES (SCHLITZER, KEOLKER-WHEELER, NELSON, CORMAN), THREE NAYS (TANNER, STREDICKE, EDWARDS). CARRIED. Ordinance #4516 Following second and final reading of the above-referenced ordinance, it was Budget: 1995, Adjustment MOVED BY KEOLKER-WHEELER, SECONDED BY SCHLITZER, for.Eroverty AcQuisition COUNCIL ADOPT THE ORDINANCE AS PRESENTED. ROLL CALL: (Good Chevrolet) FOUR AYES (SCHLITZER, KEOLKER-WHEELER, NELSON, CORMAN), THREE NAYS (TANNER, STREDICKE, EDWARDS). CARRIED. kN The following ordinances were presented for second and final reading: Ordinance #4517 An ordinance and summary ordinance were read amending Chapter 14, Transportation: Parking & Parking and Loading Ordinance, of Title IV (Building Regulations), and Loading Ordinance amending subsections 10-10-4.11, 10-10-4.H.4, 10-10-5.B and 10-10-5.13 of Changes Chapter 10, Parking Regulations, of Title X (Traffic), of City Code relating to parking standards for developments in the City of Renton. MOVED BY EDWARDS, SECONDED BY STREDICKE, COUNCIL ADOPT THE ORDINANCE AND SUMMARY ORDINANCE AS PRESENTED. ROLL CALL: ALL AYES. CARRIED. Ordinance #4518 An ordinance was read vacating a portion of 77th Avenue South (Longacres VAC: 94-003, 77th Ave S, Park, Inc./The Boeing Company, VAC-94-003). MOVED BY SCHLITZER, The Boeing Company SECONDED BY KEOLKER-WHEELER, COUNCIL ADOPT THE ORDINANCE AS PRESENTED. ROLL CALL: ALL AYES. CARRIED. NEW BUSINESS MOVED BY STREDICKE, SECONDED BY NELSON, COUNCIL Council: Schlitzer AUTHORIZE COUNCIL PRESIDENT SCHLITZER TO ATTEND THE Attendance at '95 Clean CLEAN WATER ACT CONFERENCE, SCHEDULED FOR JUNE 8 AND 9, Water Drinking Act 1995, IN SEATTLE. CARRIED. Conference May,8. 1995 Ynton City Council Minutes `'u✓ Page 190 Planning: Automall Planning Division requested a public hearing be set for May 22, 1995, to Ordinance reconsider the Automall Ordinance, adopted on 2/27/95, and to provide the opportunity for input from property owners in the area near Grady Way S. and Rainier Ave. S., which is proposed for a regional automall. Council concur. Planning: 1995 Planning Division submitted 16 proposed 1995 Comprehensive Plan Comprehensive Plan amendments (five private and 11 City-initiated; including 1994 carryovers for Amendments Bryant Motors, COR policies, and The Highlander/Parker PUD). Refer to Planning Commission. MOVED BY SCHLITZER, SECONDED BY KEOLKER-WHEELER, COUNCIL APPROVE THE CONSENT AGENDA AS AMENDED TO REMOVE ITEM 7.e. FOR SEPARATE CONSIDERATION. CARRIED. Separate Consideration Development Services Division requested acceptance of the dedication of eight Streets: Shattuck Ave. S. feet of lot frontage along Shattuck Ave. S. between S. 15th and S. 19th Streets, Street Dedication (Jacques for the eventual redevelopment of this street, as required for approval of the Short Plat, LUA-94-151) Jacques Short Plat II, File No. LUA-94-151. Councilman Edwards noted that Initiative 164 (relating to property rights/takings), which was recently approved by the State legislature, might affect this type of street dedication as it could be construed as a property taking. The initiative and its potential impacts to Renton will be discussed next week at Committee of the Whole. MOVED BY EDWARDS, SECONDED BY STREDICKE, COUNCIL REFER THE PROPOSED SHATTUCK AVE. S. STREET DEDICATION TO THE TRANSPORTATION COMMITTEE. CARRIED. CORRESPONDENCE Correspondence was read from Larry M. Brown, 261 SW 41st St., Renton, Citizen Comment: Brown 98055, regarding the appeal of the Hearing Examiner's decision on the Seed of - Seed of Abraham Abraham Church conditional use permit. The letter stated Mr. Brown's Conditional Use Permit, opinion that the conditional use permit application and subsequent support by CU-94-140 staff, the Environmental Review Committee and the Hearing Examiner stands on its own without First Amendment considerations. MOVED BY EDWARDS, SECONDED BY KEOLKER-WHEELER, COUNCIL REFER THIS CORRESPONDENCE TO THE OFFICIAL FILE, CU-94-140. CARRIED. OLD BUSINESS Council President Schlitzer presented a Committee of the Whole report Committee of the Whole recommending approval of the revised Governmental Access Channel Policy Franchise: Cable TV and Procedure as proposed. The Committee also authorized the regular Policies Council meetings to be broadcast on Channel 28 on a weekly basis, and authorized staff to determine the broadcast schedule in response to public input. MOVED BY SCHLITZER, SECONDED BY TANNER, COUNCIL CONCUR IN THE COMMITTEE REPORT. CARRIED. Public Safety Committee Public Safety Committee Chair Tanner stated that the Committee met to Police: Transfer of Persons discuss the problem of transferring persons with outstanding warrants to the with Outstanding Warrants issuing jurisdiction, but concluded there is no action to be taken. Therefore, to the Issuing Jurisdiction the Committee asked that this item be removed from its referral list. Budget: 1995, Adjustment Councilman Tanner entered into the record a letter from Mayor Clymer to the for Property Acquisition Council stating the Administration's intention to purchase five parcels located (Good Chevrolet) in the downtown area that are currently owned by Howard Sheridan and occupied by Good Chevrolet. Mr. Tanner objected to the purchase as an inappropriate use of taxpayer funds, particularly as the City has no clearly May 8. 1995 nton City Council Minutes *4400, Page 191 defined public use for the properties, and said that this proposal would only shield a private business from the hazards of the marketplace. Sue Carlson, Economic Development Director, explained the purpose of the proposal is to ensure that Good Chevrolet relocates to the automall area at Lind and Grady Way rather than to the city of Tukwila. She noted one use for the acquired property might be for a transit station in cooperation with Metro. Also, a plaza or town square has been considered for the property at 3rd and Burnett, given the City's desire to revitalize the downtown and that such an amenity is referred to in the downtown plan. The remaining parcels could be leased to downtown businesses for parking. Ms. Carlson noted that the sales tax revenues received from Good Chevrolet are considerable, and the City does not want its auto dealerships to begin relocating to Tukwila. Councilman Tanner replied that if Metro is interested in acquiring property in downtown Renton for a transit station, it should do so itself. Mr. Tanner added it was his understanding that Good Chevrolet has received a purchase offer for the parcel between 2nd and 3rd on Logan Avenue. While he might support buying property for a public plaza, he felt that the parcels bordering 3rd St. would not be suitable for this use. Responding to Councilman Stredicke, Executive Assistant Covington said it has not yet been determined whether the City or Metro would own the transit station property. Mr. Covington added that by acquiring these five parcels, the City is trying to protect its investment in the future. For the record, Mr. Tanner requested an explanation for the use of the properties. Mr. Covington replied that the Administration has discussed creating a public plaza in the general vicinity of parcel #2 (intersection of 3rd and Logan), #3 (west side of Burnett between 2nd and 3rd) or #4 (next to Pipeline Trail along 3rd Street). No decision has been made as to the potential location of City facilities on these parcels. Parking could be situated on parcel #1 (between 2nd and 3rd on Logan) or #3. Councilman Edwards inquired about the source of the purchase funds. Mr. Covington explained that the money will come from various reserves and fund balances that will be repaid within seven years from the increased revenues anticipated from expanded auto sales. Ms. Carlson added that the City will also receive $8,000 per month for two years from Good Chevrolet leasing back part of the property, which will reduce the purchase price by $200,000. In response to Councilman Edwards, Mr. Covington said because the monies being allocated from the street maintenance fund for this purchase are unanticipated revenues, no planned street improvements will be delayed or otherwise affected by using these funds for property acquisition. Planning/Building/Public Works Administrator Gregg Zimmerman commented on the significance of securing a transit station for the downtown, emphasizing this is the highest priority project for ISTEA funding and adding that such a facility is important to the City's multi-modal transportation goals. Referring to Renton's public safety space needs, Councilman Stredicke questioned whether the City is correctly prioritizing its goals. Councilmember Keolker-Wheeler replied that the City stands to gain revenues by retaining Good Chevrolet in Renton, but would lose revenues should this business relocate outside of the City. Mrs. Keolker-Wheeler added that Renton is currently working to diversify its business base and lessen its dependence on Boeing. May 8. 1995 %,: Anton City Council Minutes Page 192 Council President Schlitzer noted that the City has consistently been asked to improve the downtown, and this proposal affords an opportunity to stimulate even more improvements. While he supported economic development in the downtown, Councilman Edwards had concerns with government playing a role in private enterprise. Councilman Corman stated he has seen public/private partnerships work successfully in other areas, and he considered the current proposal an investment in Renton's economic future. (See page 195 for ordinance.) Community Services Community Services Committee Chair Nelson presented a report Committee recommending concurrence in the staff recommendation that the driving range CAG: 95-026, Maplewood netting contract be awarded to SeaWest Construction for the reasons set forth Golf Course Driving in the recommendations. The Committee further recommended that the Range Netting resolution regarding this matter be presented for reading and adoption. MOVED BY NELSON, SECONDED BY SCHLITZER, COUNCIL CONCUR IN THE COMMITTEE REPORT. CARRIED. (See page 194 for resolution.) Planning: Master Site Plan MOVED BY EDWARDS, SECONDED BY SCHLITZER, COUNCIL TABLE Ordinance ACTION ON THE MASTER SITE PLAN ORDINANCE PENDING RESOLUTION OF THE APPEAL FILED 5/05/95 ON THE DETERMINATION OF NON-SIGNIFICANCE (DNS). CARRIED. Plannine & Development MOVED BY SCHLITZER, SECONDED BY EDWARDS, COUNCIL Committee REMOVE FROM THE TABLE THE ITEM CONCERNING THE SEED OF Appeal: Seed of Abraham ABRAHAM PENTECOSTAL CHURCH CONDITIONAL USE PERMIT AND Conditional Use Permit, APPEAL. CARRIED. CU-94-140 Planning and Development Committee Chair Stredicke presented a report regarding the Seed of Abraham Pentecostal Church and the appeal filed by Jennifer and Bud Brock. The Planning & Development Committee held a hearing on this matter on April 19, 1995. The Committee recommended that the Council find that the Examiner's conclusions of law are in error to the extent they did not include additional conditions to protect the adjoining single-family neighborhood from noise, light and glare. The Committee therefore recommended that Council affirm the Hearing Examiner's decision but add the following conditions: 1. There shall be ingress (right turns) only into the northerly driveway along Lake Ave. S. and vehicles shall exit only from the southerly drive on Lake Ave. S. 2. There shall be no windows in the building facing east. 3. The landscaping materials used from the corner of Lake Ave. S. and Tobin southerly along Lake Ave. S. to the start of the northernmost driveway shall be more mature landscaping materials consistent with good planting practice. The materials should not be so large as to present a high risk of mortality, but should be of such a size as to result in quick maturity and ultimate screening of this area to the extent reasonably practicable. 4. To minimize late-hour noise, all organized activities outside of the church structure and all amplification, including but not limited to voices and musical instruments, shall cease by 10:00 p.m. on the weekends. There is already a condition concerning ending church services by 10:00 p.m. on the weekdays. CITY OF RENTON MEMORANDUM DATE: May 8, 1995 TO: Renton City Council FROM: Mayor Earl Clymer SUBJECT: Downtown Property Acquisition Issue The City Council has authorized the Administration to buy four parcels of downtown property. These parcels, currently owned by Howard Sheridan and occupied by Good Chevrolet, represent an unique opportunity to further three key objectives of the City: 1) strengthen the City's financial condition by encouraging the relocation of the auto dealers to the automall zone at Rainier and Grady, 2) further the revitalization of downtown and 3) secure property for several possible future public uses. Financing The debt service on this property would be paid from increased sales tax revenue generated from the relocated dealership. The additional sales tax revenue from the relocated dealerships would pay for this property within 7 years. Background Why auto dealers are relocating out of downtown Auto dealers have been located in downtown Renton for over 40 years. However, conditions have changed and downtown is no longer a prime location. Only two auto dealers remain in downtown, Sound Mazda and Good Chevrolet. Comparison shopping is common among people purchasing a car and the dealers recognize this. In Renton, the car market has moved away from downtown and established itself along Rainier Avenue. Good Chevrolet contributes a significant amount of money per year to Renton's revenue base. Sound Mazda is also planning to move out of downtown. In addition, having a Chevrolet dealership in Renton is essential if Renton is going to continue to dominate the auto market in the South End. All of the major dealerships are currently represented in Renton. If Chevrolet moves to Tukwila it will leave a big hole in the marketplace, and might impact sales at other dealerships. Car sales represent $2 million in sales tax revenue to the City. A small increase or decrease in the number of cars sold can have a major impact on Citv revenues. Sound Mazda and Good Chevrolet have both indicated that they will move out of downtown. Good Chevrolet is losing market share and has been experiencing declining sales in its downtown location in spite of a very strong national auto market. General Motors has recognized Good Chevrolet's declining sales and has made its relocation the 41 priority for the West Coast region. GM has approved one site in Renton and one site in Tukwila for the relocation. If Howard Sheridan does not buy property in Renton, General Motors would like him to move his dealership to Tukwila. This fits in with GM's current thinking which is to locate car dealers next to major retail centers. This would strengthen Tukwila's share of the auto sales market and weaken Renton's. Renton needs to maintain its "one-stop" auto shopping advantage. 05/09/95 Page 2 The automall site is constrained by factors including: 1) higher cost to buy and develop and 2) multiple ownership of property parcels. Five acres in this area is now under option to a single party, but the option runs out this month. It will be much more cost effective for Good Chevrolet if a deal could be made to purchase that property before the option runs out. Before General Motors will approve Good Chevrolet's relocation to the Renton Automall, Howard Sheridan, the owner of Good Chevrolet, must get commitments to sell some of downtown property. The City's commitment to buy this downtown property ensures that Mr. Sheridan will buy 5 acres at Lind and Grady and build a new dealership in Renton. Benefits to Renton Strengthen the City's Financial Condition Using auto industry information, staff estimates that Good Chevrolet's annual sales will increase by 25 to 35 % at its new facility. Sound Mazda has acquired enough property in the automall zone to move and expand its dealership. It will only do so, however, if a major dealer relocates in the same area. Sound Mazda expects to increase sales by 50% in its new location. Together,these dealerships in their new locations will generate an estimated amount over$100,000 in additional annual tax revenues for the City. Opportunity to Revitalize Downtown and Secure Propertyfor Future Public Uses The property currently occupied by downtown auto dealers represents the biggest block of underdeveloped property under a single ownership in the downtown. This is either a terrific asset or a great liability to downtown, depending on who acquires the property. The purchase of this property would move the City toward its goal of revitalizing the downtown by preserving land for a Metro Transit Station. The City is currently working with Metro to obtain funding for site analysis and selection of a downtown transit center. One of the parcels that is recommended to be purchased, the corner of S. 4th and Burnett, has been identified as a potential site for the transit center. This site is conveniently located next to the commuter rail line and is on the Burnett Avenue transit corridor. It also allows the City to move forward with its plan to create a downtown plaza as a focal point and gathering place. On a temporary basis,this property could be used for a Famer's Market and for customer or employee parking. Other developers are not interested in downtown at this time because the downtown market will not support the rents necessary to develop new buildings. New construction will require retail rents of$14 to $20 per foot. Retailers are currently paying $2 - $10 per foot. The office market is over built in Renton and new office buildings will not be built unless there is a user already lined up for the building. Intrawest, a major northwest developer, has expressed an interest in acquiring some of the Sheridan property for market rate housing, but they are not interested in being the first to attempt a major revitalization project. They would seriously look at a low rise condominium residential development if the City, or some other public agency,took the lead and created a focal point for the downtown. The transit station, a town square and a farmer's market are all positive elements that will attract quality development to the downtown. Likely scenario if City does notpure, ase property. The automallis never built.;'Good Chevrolet moves to'Tukwila. The City would lose the fax revenues from Good Chevrolet, It would never collect the additional sales tax that the expanded dealerships would generate..> 05/08/95 orr' Page 3 Recommendation Execute a purchase and sale agreement with Howard Sheridan for the four parcels of downtown property described below and amend the 1995 budget to permit the acquisition. Property Acquisition Parcel Description Tax Account Numbers 1) Large parcel between 2nd and 3rd on Logan 569600-0010 784180-0035 2) Parcel located at intersection of 3rd and Logan 569600-0005 3)Two lots on West side Burnett between 2nd and 3rd 569600-0115 569600-0120 4)Third Ave -Small vacant lot next to Pipeline Trail 569600-0050 5)Fourth and Burnett- W. side of Burnett next to Spirit of Washington 783930-0315 783930-0305 Subject Property �---• I N.w N^ C I p 20.75tAc1. iso a rt. o ; I T.0. 10 ^ �� �yy ZOO 6) 4 Y'{_' C � I Z I � So�•l 7jOS �- � ? •�;�� ; .:111 r - � - —--- V _ `f z�� 30�� �� _ d 5 � t5 15 4 I\ I US `A 5 !60 '�! T\\-L- 3RD sT. -- S7t- 1 _ n - qv 60 so^ - a I ° I� ,I- 3 4 _ d t2 I h -11� y---- 3 IS II` 31I 7 !4 fI 3A 7 Z6 � P I IS 314 8 2!5 i 3 �) 312 0 8 , 23 `r. I.. 9 i11 31. 316 9 «".UU $ i n ELI Rl 3i5 . 3Z4 0 it 15 )22 3:1 320 I i v7US-1�Q I 323 327 � � "•ZS I I 3,y 324 cam. (0 t 332 0 ^ 1 11 ac a 3)0 12 [3 12" 1l! _ 330 13 13 1 Hux " I� g "` 336 336 $ 14 11 Sao 14 -344 4THo� TON-KIN ct/n/c ST ' PARK 4 60 6c A 'r 410" I v, 41 13 15 r 6c 60 - X25 t26 l Gi 5 - 7 - Y348 r .7 91 4 Q F- 10 i3 _ _ w G1o rn1 ., JO I _ 1z [q_ S. 5 TH = ST. =.t 54 0 F( p �7 I !mood NMI EXHIBIT A IDENTIFICATION OF SUBJECT PROPERTY There are eight assessor's parcels which we are appraising for the City of Renton. In this report, the parcels which are contiguous to each other have been grouped into Subjects#145. Subject Parcel#1 Tax Parcel#569600-0010 255 Logan Avenue South Title Insurance Parcel A Tax Parcel#784180-0035 210 Morris Avenue South Title Insurance Parcel C Subject Parcel#2 Tax Parcel#569600-0005 528 South 3rd Street Title Insurance Parcel B Subject Parcel#3 Tax Parcel#569600-0115 219 Burnett Avenue South Title Insurance Parcel D Tax Parcel#569600-0120 219 Burnett Avenue South Title Insurance Parcel E Subject Parcel#4 Tax Parcel#569600-0050 233 Burnett Avenue South Title Insurance Parcel F Subject Parcel#5 Tax Parcel#783930-0315 333 Burnett Avenue South Title Insurance Parcel G Tax Parcel#783930-0305 339 Burnett Avenue South Title Insurance Parcel H ENVIRONMENTAL AUDIT PERMIT Page 3 of 3 A8.115:45. Subject Property 20.7gc� 50 _ >•o} � I/ .�f ns I ti -Q 7 rZC 6b 44 eo G tARKi '1Q I ?Oil Z? E c.c I Z I / S I 20S= O 1 I ? 1 I ?e J — �- "5 2®7 b 12 o5 /fs ?Q,4 3 1 I - M 3 2 I �h�r of 4,. ! - 5 r 6 Z s ct .Al I '7 1 �4 I ' •9 6s. A.'Cd 3 vs�."a`•f t� s 190 60 !.It u p 3RD ST. - -- f JY 4 60 4U 4 44 e� 111 r.� 7 CZE 1 311 ----� 1S • I' t� ��s a ' Y' 3.s g I ,!; 3 I 31 t 6 . 23 F t •I© - ��i 9 '1' 3i6 7 CE MTURI SLI SE Tlf 13 ►U U $f F3 270 aPatti6'w 323 ~~ a �ti 3 S II 327 •� !I ,'9 324;- 1 - 332 ? a ,,._, !2 I • Q Ic" [� 330 ,f 4Q 'p3 0 13t 336 a ;4 Il 3 7 14 ¢ pyo 15 4TH ST. la TONKIN �+1a a:�/c S.A.'0 PARK � ' L • 6c 15 17 � 15 f a 4:6 /_ 7 6 7 I B F371 60 3 i a 9 K 1„ -lo< 13 ¢ 0 12 ,:-' 112 d 24 4`1'111 P li'A S 9:-00-1 VWW,utem Aavruti S--I- CITY OF RENTON TITLE INFORMATION AUG 3 0 2000 Piazza and Gateway Development RECEIVED CITY CLERK'S OFFICE s-qq- o& $ Attached are the following documents: • Title Insurance Policy No. R107454 in favor of the City of Renton for property previously referred to as the Blume/Lycette property, part of which is now known as the Piazza; • Statutory Warranty Deed for the above property; • Title Insurance Policy No. 432682 in favor of the City of Renton for property previously referred to as the Sheridan Property, part of which is now known as the Gateway (Parcel "B") and part of the Piazza (Parcel "F"); • Lease Agreement No. 327-815 between the City of Seattle Public Utilities and the City of Renton providing for Renton's use of a portion of Seattle's Cedar River Pipeline (Parcel "B") for park purposes. DZjZLOP C/7y OF REN 0RN/ NG "AY 0 5 1999 TITLE INFORMATION.doc SCHEDULE A Policy No. R107454 Amount of Insurance: $1,000,000.00 Date of Policy: May 2, 1997 Premium: $2,330.00 at: 11:19 a.m. Sales Tax: $200.38 �IO+k-T���10�1 1. Name of Insured: �0�-T � © L CITY OF RENTON, a Washington municipal corporation 2. The estate or interest in the land which is covered by this policy is: FEE SIMPLE 3. Title to the estate or interest in the land is vested in: CITY OF RENTON, a Washington municipal corporation 4. The land referred to in this policy is described as follows: Lot(s) 2, 3, 4, 5, 16, 17 and 18, Block 2, Motor Line Addition to Renton, according to the plat thereof recorded in Volume 9 of Plats, page 50, in King County, Washington; EXCEPT the east 6 feet of Lot(s) 16, 17 and 18 conveyed to City of Renton under King County Recording Number 910200 for street purposes. 1 R107454 SCHEDULE B Policy No. R107454 EXCEPTIONS FROM COVERAGE This policy does not insure against loss or damage (and the Company will not pay costs, attorneys' fees or expenses) which arise by reason of: GENERAL EXCEPTIONS: A. Rights or claims disclosed only by possession,or claimed possession,of the premises. B. Encroachments and questions of location,boundary and area disclosed only by inspection of the premises or by survey. C. Easements, prescriptive rights, rights-of-way, streets, roads, alleys or highways not disclosed by the public records. D. Any lien,or right to a lien,for contributions to employee benefit funds,or for state workers'compensation,or for services,labor,or material heretofore or hereafter furnished,all as imposed by law,and not shown by the public records. E. Taxes or special assessments which are not yet payable or which are not shown as existing liens by the public records. F. Any service, installation, connection, maintenance, tap, capacity or construction charges for sewer, water, electricity, natural gas or other utilities, or garbage collection and disposal. G. Reservations and exceptions in United States Patents or in Acts authorizing the issuance thereof. H. Indian tribal codes or regulations,Indian treaty or aboriginal rights,including easements or equitable servitudes. I. Water rights, claims or title to water. SPECIAL EXCEPTIONS: 1. GENERAL AND SPECIAL TAXES AND CHARGES: First half delinquent May 1, Second half delinquent November 1: YEAR: 1997 GENERAL TAXES: AMOUNT BILLED: $520.23 AMOUNT PAID: $0.00 AMOUNT DUE: $520.23 SPECIAL DISTRICT: AMOUNT BILLED: $1.25 AMOUNT PAID: $0.00 AMOUNT DUE: $1.25 TAX ACCOUNT NUMBER: 569600-0065-00 LEVY CODE: 2100 CURRENT ASSESSED VALUE: Land: $35,000.00 Improvements: $2,500.00 END OF POLICY 2 R107454 HOME OWNER'S INFLATION PROTECTION ENDORSEMENT Issued by TICOR TITLE INSURANCE COMPANY Attached to and forming a part of Policy of Title Insurance No. R107454 The Company, recognizing the current effect of inflation on real property valuation and intending to provide additional monetary protection to the insured Owner named in said Policy, hereby modifies said Policy, as follows: 1. Notwithstanding anything contained in said Policy to the contrary, the amount of insurance provided by said Policy, as stated in Schedule A thereof, is subject to cumulative annual upward adjustments in the manner and to the extent hereinafter specified. 2. "Adjustment Date" is defined, for the purpose of this Endorsement, to be 12:01 a.m. on the first January 1 which occurs more than six months after the Date of Policy, as shown in Schedule A of the Policy to which this Endorsement is attached, and on each succeeding January 1. 3. An upward adjustment will be made on each of the Adjustment Dates, as defined above, by increasing the maximum amount of insurance provided by said Policy (as said amount may have been increased theretofore under the terms of this Endorsement) by the same percentage, if any, by which the United States Department of Commerce Composite Construction Cost Index for the month of September immediately preceding exceeds such Index for the month of September one year earlier; provided, however, that the maximum amount of insurance in force shall never exceed 150% of the amount of insurance stated in Schedule A of said Policy, less the amount of any claim paid under said Policy which, under the terms of the Conditions and Stipulations, reduces the amount of insurance in force. There shall be no annual adjustment in the amount of insurance for years in which there is no increase in said Construction Cost Index. 4. In the settlement of any claim against the Company under said Policy, the amount of insurance in force shall be deemed to be the amount which is in force as of the date on which the insured claimant first learned of the assertion or possible assertion or possible assertion of such claim, whichever shall first occur. PROVIDED, HOWEVER, this endorsement shall be effective only if one of the following conditions exists at Date of Policy: a. The land described in this policy is a parcel on which there is only a one-to-four family residential structure, including all improvements on the land related to residential use, in which the insured Owner resides or intends to reside; or b. The land consists of a residential condominium unit, together with the common elements appurtenant thereto and related to residential use thereof, in which the Insured Owner resides or intends to reside. This Endorsement, when countersigned below by an authorized signatory, is made a part of the policy and is subject to all the terms and provisions thereof and of any prior endorsements thereto. Except to the extent expressly stated, it neither modifies any of the terms and provisions of the policy and prior endorsements, if any, nor does it extend the effective date of the policy and prior endorsements or increase the face amount thereof. IN WITNESS WHEREOF, the Company has caused its corporate name and seal to be hereunto affixed by its duly authorized officers. TICOR TITLE INSURANCE COMPANY W I A thorized Signatory INFLATION PROTECTION ENDORSEMENT Reorder Form No.7686 ENDORSEMENT Attached to Policy No. R107454 Issued by TICOR TITLE INSURANCE COMPANY 1. This Endorsement shall be effective only if at Date of Policy there is located on the land described in said Policy a one-to-four family residential structure, in which the Insured Owner resides, either at Date of Policy or within one year of Date of Policy, as the insured owner's principal residence. For the purpose of this Endorsement the term "residential structure" is defined as the principal dwelling structure located on the land,together with a garage or carport used for storage of noncommercial vehicles. The term "residential structure" shall not include detached outbuildings (other than a garage or carport as defined herein), driveways, walkways,boat ramps, docks, recreational facilities of any kind, subsurface lines, pipes,tanks, septic systems and/or drainfields, plantings of any nature, perimeter fences or perimeter walls,or any other improvements which are not an integral part of the residential structure. 2. The Company hereby insures the Insured Owner against loss or damage which the Insured Owner shall sustain by reason of: a. the existence at Date of Policy of any unrecorded statutory liens for labor or materials attaching to the estate or interest arising out of any work of improvement on the land in progress or completed at the Date of the Policy, except those liens arising out of a work of improvement for which the insured has agreed to be responsible. b. the removal of the residential structure or interference with the use thereof for ordinary residential purposes as the result of a final Court Order or Judgment,based upon the existence at the Date of Policy of: (1) any encroachment of the residential structure or any part thereof onto adjoining lands, or onto any easement shown as a special exception in Schedule B of the Policy, or onto any unrecorded subsurface easement; (2) any violation on the land of enforceable covenants, conditions or restrictions provided that this coverage shall not refer to or include the terms, covenants and conditions contained in any lease,sublease or contract of sale referred to in this Policy; 3) any violation of applicable zoning ordinances to the extent that such ordinances regulate (a) area, width or depth of the land as a building site for the residential structure; (b) floor space area of the residential structure; (c) setback of the residential structure from the property lines of the land; or (d) height of the residential structure. C. damage to the residential structure resulting from the exercise of any right to use the surface of the land for the extraction or development of the minerals shown as an exception in Schedule B, or excepted from the description of the land. For purposes of this endorsement, the words "covenants," "conditions" or "restrictions" shall not be deemed to refer to or include any covenants, conditions or restrictions relating to environmental protection, except to the extent that a notice of violation or alleged violation affecting the land has been recorded in the public records at Date of Policy and is not excepted in Schedule B. This Endorsement, made a part of the policy and is subject to all the terms and provisions thereof and of any prior endorsements thereto. Except to the extent expressly stated, it neither modifies any of the terms and provisions of the policy and any prior endorsements, if any, nor does it extend the effective date of the policy and prior endorsements or increase the face amount thereof. T C LR T t ANCE COMPANY i Authorized Signatory HONE OWNER'S ADDIPROTECTION ENDORSEMENT-WA Form F.7653(Rev. 12.95) ' 3-z/•9� •� AP CITY OF RENTON K.G.K70 N SCALE= 1" = 100' T SE 18 -- 23 _ 5 /O° 30 30 /00 1318.14 /0 a -s / , 4• rs zo r° 0 30 2 3 u 2t '00 h h 9 h / I 2c ° 7h / �zs oe. deo e' d S+t�,fi 6 44 iii ' ,,�° o°h �t N °j\ '°, 2 7s ° 4•e i y N (O pl p W 130.1L x•..5,4 N I :x.ss 5• a � 6•°' ,sp c�/3h ' 4 � � / 03 06 4 it SNE z4:. '� °'` M ° ' , °• 2 ,or 25 e �s M .3 h �tOe V ia4' a �! 0 p , 41 ro s•o`be oi 4°10,0 2" 43 16- a � 14 ��' 0 0 +< H, o°� ,�as 1 2 /7 h 8 ;ti�`�c fltitid t o o5 j s vJ ` /2 O 6 O y 4 b" o $4 4s 30 3e 44 44 34 67 /o0 3a 30 Z s;o!i.• o h/� ns1 hti�// )37.°7 _ i2o /Z S. n THIRD ST 3/c c n• /3 d AXE (srz.wa:) r Z M BGa-64 Z / ;0 36 s+< ss 4 3 / 30 so b 5 4 3 240 -10 4 /4 so ,en ~ eG S4° se N 0 0 0 : ° a i A 0 N N so N v, l JQ �,�p jN g ° fY_w�j `V 'S 0 1a0�) 0. jPspS p�lD ,°f-A m t 2 '� T (� 1• /K s[ 44 a 4o i°so > s > C�4 40 44 ti' M N c o 'Lo 6�t /Zo ��,e R° 0 /Z° / /Z° ~ �P N� 3 •a�y�T F M w 7 d�0, • a° 140 24 7 ADp°fl 249 (�� 03 F In zJ , k. O 'Zy ' �g ° o O • W 4 u) ,5 a��+, Zit 8 e�`0 as° p 23` � Oo 00 0000 150580 ° �° pZp > N J to 26 22 4, ' O °dp�0 As 1 0 r2 . W 9 ���0 dt6 i eo $ + U ; Q 5 �- 0 / ,soo' 00 2/ : /O M io��' ��i 2/. N /0 01� 33 m 2/ (o0/C 20, . /i ASP aft 00 0: // 4o>to •oma, Zo Z �. • q qq 7 z /1 /9, 18 e�ot' Z cs�4/9= W /2 0 Q� /9 t z cZ Ir 5 ° 8 0 Ia: 2 . /3 �° U . i��/B •Q}10 �'e�4s°/d m h / o SO °B Lij 1 ti° o ze 0 iso •0 0 a K s ri• s 0/6 � -)e 3o g /� j°03� 0 30 3e e 4 Z o �z� S• FOURTH ST. — — M . G to A ILO 40 40 40 40 40 40 Gil 4 3 �� 130S10eS�� ?' ,3• Z / Fr eoZ to 2� efe o °try M R `t 2 o � A V,6% ch, Er. Return Address: Warren, Kellogg, Barber, Dean & Fontes, P.S. P.O. Box 626 Renton, Washington 98057-0626 O Please print or type information WASHINGTON STATE RECORDER'S Cover Sheet (RCW 65.04) O Docu er T}#,e o�nsvjons contained therein): (all areas applicable to your document must be filled in) i.7 ,V�VpL(�11��� t�U ��jj 1]1 1. Statutory Warranty Deed VJ C7'i Reference Number(s) of Documents assigned or released: Additional reference 4's on page of document. Grantor(s) (Last name first, then first name and initials) 1. Lycette, John P. Jr. 2. Lycette, Beverly R. 3. University Enterprises, Inc. ❑Additional names on page of document. Grantee(s) (Last name first, then first name and initials) 0 0 1. City of Renton Additional names on page of document. Legal description (abbreviated: i.e. lot, block, plat or section, township, range) Lts 2, 3, 4, 5, 16, 17, and 18, Blk 2, Mtr Line Addn to Renton, Vol 9/50, except e 6 ft Lts CS 16, 17, and 18 W } Additional legal on page 2 of document. U U Assessor's Property Tag Parcel/Account Number 569600-0065; 569600-0070; 569600-0055 o OAssessor Tax N not yet assigned 0 a; The Auditor/Recorder will rely on the information provided on the form. The staff will not read the document to verify the accuracy or completeness of the indexing information provided herein. .o 0 CP CU STATUTORY WARRANTY DEED - 1 CD C/R.Ml3MYCETrE'STATWARR:04-70-971dm M E154i978 05/02/97 .00 1000000.00 STATUTORY WARRANTY DEED JOHN P. LYCETTE, JR. and BEVERLY R. LYCETTE, husband and wife; and UNIVERSITY ENTERPRISES, INC., a Washington corporation, for and in consideration of Ten Dollars ($10) and other good and valuable consideration in hand paid, conveys and warrants to the CITY OF RENTON, a Washington municipal corporation, the following described real estate, situated in King County, State of Washington: Lots 2, 3, 4, 5, 16, 17, and 18, Block 2, Motor Line Addition to Renton, according to the plat thereof recorded in Volume 9 of Plats, page 50, in King County, Washington; EXCEPT the east 6 feet of Lots 16, 17, and 18 conveyed to City of Renton under King County Recording Number 910200 for street purposes. SUBJECT TO: (1) Unrecorded leaseholds, if any, including lease to S & K Motors, Inc.; rights of vendors and holders of security interests on personal property installed upon said property and rights of tenants to remove trade fixtures at the expiration of the term of lease. O ems+ p (2) General and special district taxes for 1997. ht O (3) Water, Metro, and other utility charges, if any. DATED: May 1, 1997. Gfili�-1 HN P. LYCETTE, 6-, d L2 L cx BEVERLY R. LYCETTE UNIVERSITY ENTERPRISES, INC. a Washington corporation OHN K. BLUME, President STATUTORY WARRANTY DEED - 2 CIR.FIISCU.YC ETTE\STATWARR:04-70.97:Idm STATE OF WASHINGTON ) ss COUNTY OF KING ) I certify that I know or have satisfactory evidence that and JOHN P. LYCETTE, JR. and BEVERLY R. LYCETTE, are the persons who appeared before me, and who signed this instrument and acknowledged it to be their free and voluntary act for the uses and purposes mentioned in the instrument. DATED: May 1, 1997. ,,``,,•..111111111/ /,/,/ \ I , ♦ Y ARr'*,. Ca Public Lisa D- Miner �o« C _ in and for the State of Washington. s�;•, p,?v �; My appointment expires: �f raFV1 STATE"OF WASPNGTON ) r« ss O COUNTY OF KING ) VI certify that I know or have satisfactory evidence that John K. Blume is the person who appeared before me, and who signed this instrument, on oath stated that he was authorized to execute the instrument and acknowledged it as the President of UNIVERSITY ENTERPRISES, INC., a Washington corporation, to be the free and voluntary act of such party for the uses and purposes mentioned in the instrument. DATED: May 1, 1997. ,.11,1.11.,,,•,,, 1 C 1,, 14La S (5A ... 4 '0-(A�y'�'; r otary Public Lisa D. Miner PSC0 � in and for the State of Washington. : .. : My appointment expires:41 W NS ♦`♦, r STATUTORY WARRANTY DEED - 3 C/R.r,I1S CV.YCEITE%STATWARR:64-30.971d.n f rte. j`' AGO TITLE INSURANCE COMPAi _ IV, 16�, 16 COLUMBIA CENTER, 701 STH AVE SEATTLE, WA 98104 PolicyNo.: 432682 EXTENDED OWNER POLICY SCHEDULE A Amount of Date of Policy: JULY 7, 1995 at 2:20 PM Insurance: $900,000.00 1. Name of Insured: THE CITY OF RENTON, A MUNICIPAL CORPORATION ?4 w4q " 2. The estate or interest in the land which is covered by this policy is: FEE SIMPLE 3. Title to the estate or interest in the land is vested in: THE CITY OF RENTON, A MUNICIPAL CORPORATION DEVELOPMENT PLANNING OF RENTON MAY 0 5 1999 RECEIVED 4. The land referred to in this policy is described as follows: SEE ATTACHED DESCRIPTION CHICAGO TITLE INSURANCE COMPANY ,,.V--AGO TITLE INSURANCE COMPAI e Policy No.: 432682 EXTENDED OWNER POLICY SCHEDULE A (Continued) LEGAL DESCRIPTION PARCEL A: LOTS 6 AND 7, BLOCK 1, SMITHER'S SIXTH ADDITION TO THE TOWN OF RENTON, ACCORDING TO THE PLAT THEREOF, RECORDED IN VOLUME 26 OF PLATS, PAGE(S) 47, IN KING COUNTY, WASHINGTON; TOGETHER WITH THAT PORTION OF THE ALLEY ADJACENT TO SAID LOT 6 VACATED BY CITY OF RENTON ORDINANCE NUMBER 2779, WHICH ATTACHED BY OPERATION OF LAW. C PARCEL LOT 1, BLOCK 1, MOTOR LINE ADDITION TO RENTON, ACCORDING TO THE PLAT THEREOF, RECORDED IN VOLUME 9 OF PLATS, PAGE(S) 50, IN KING COUNTY, WASHINGTON. PARCEL C: LOTS 2 THROUGH 5, INCLUSIVE, BLOCK 1, MOTOR LINE ADDITION TO RENTON, ACCORDING TO THE PLAT THEREOF, RECORDED IN VOLUME 9 OF PLATS, PAGE(S) 50, IN KING COUNTY, WASHINGTON. PARCEL D: LOT 14, BLOCK 2, MOTOR LINE ADDITION TO RENTON, ACCORDING TO THE PLAT THEREOF, RECORDED IN VOLUME 9 OF PLATS, PAGE(S) 50, IN KING COUNTY, WASHINGTON; EXCEPT THE EAST 6 FEET THEREOF CONVEYED TO THE CITY OF RENTON FOR STREET PURPOSES BY DEED RECORDED UNDER RECORDING NUMBER 910189. PARCEL E: LOT 15, BLOCK 2, MOTOR LINE ADDITION TO RENTON, ACCORDING TO THE PLAT THEREOF, RECORDED IN VOLUME 9 OF PLATS, PAGE(S) 50, IN KING COUNTY, WASHINGTON; EXCEPT THE EAST 6 FEET THEREOF CONVEYED TO THE CITY OF RENTON FOR STREET PURPOSES FBY DEED RECORDED UNDER RECORDING NUMBER 910200. F: BLOCK 2, MOTOR LINE ADDITION TO RENTON, ACCORDING TO THE PLAT THEREOF, ED IN VOLUME 9 OF PLATS, PAGE(S) 50, IN KING COUNTY, WASHINGTON, MORE ULARLY DESCRIBED AS THAT PART OF BLOCK 2, SAID MOTOR LINE ADDITION TO, LYING SOUTHERLY OF A LINE WHICH IS PARALLEL WITH AND 66 FEET SOUTHERLY HE SOUTHERLY LINE OF LOTS 2 AND 18 OF SAID BLOCK 2. PARCEL G: LOTS 16 AND 17, BLOCK 33, SMITHER'S FIRST ADDITION TO THE TOWN OF RENTON, ACCORDING TO THE PLAT THEREOF, RECORDED IN VOLUME 9 OF PLATS, PAGE(S) 17, IN KING COUNTY, WASHINGTON; CHICAGO TITLE INSURANCE COMPANY ^-.AGO TITLE INSURANCE COMPA—! Policy No.: 432 682 EXTENDED OWNER POLICY SCHEDULE A (Continued) LEGAL DESCRIPTION EXCEPT THAT PORTION OF SAID LOT 16 CONVEYED TO THE CITY OF RENTON FOR STREET, ALLEY AND ANY OTHER PUBLIC USES AND PURPOSES BY DEED RECORDED UNDER RECORDING NUMBER 7401170345. PARCEL H: LOTS 18 THROUGH 21, INCLUSIVE, BLOCK 33, SMITHER'S FIRST ADDITION TO THE TOWN OF RENTON, ACCORDING TO THE PLAT THEREOF, RECORDED IN VOLUME 9 OF PLATS, PAGE(S) 17, IN KING COUNTY, WASHINGTON. CHICAGO TITLE INSURANCE COMPANY J —AGO TITLE INSURANCE COMPA_.t Policy No.: 432682 EXTENDED OWNER POLICY SCHEDULE B EXCEPTIONS FROM COVERAGE This policy does not insure against loss or damage(and the Company will not pay costs,attorneys'fees or expenses) which arise by reason of: GENERAL EXCEPTIONS: AH 1. ENCROACHMENTS, OVERLAPS, BOUNDARY LINE DISPUTES, OR OTHER MATTERS WHICH WOULD BE DISCLOSED BY AN ACCURATE SURVEY AND INSPECTION OF THE PREMISES. Al 2. EASEMENTS, OR CLAIMS OF EASEMENTS, NOT SHOWN BY THE PUBLIC RECORDS. AJ 3. TAXES OR SPECIAL ASSESSMENTS WHICH ARE NOT SHOWN AS EXISTING LIENS BY THE PUBLIC RECORDS. AK 4. ANY SERVICE, INSTALLATION, CONNECTION, MAINTENANCE, TAP, CAPACITY OR CONSTRUCTION CHARGES FOR SEWER, WATER, ELECTRICITY, OTHER UTILITIES, OR GARBAGE COLLECTION AND DISPOSAL. AL 5. RESERVATIONS AND EXCEPTIONS IN UNITED STATES PATENTS OR IN ACTS AUTHORIZING THE ISSUANCE THEREOF; INDIAN TRIBAL CODES OR REGULATIONS, INDIAN TREATY OR ABORIGINAL RIGHTS, INCLUDING EASEMENTS OR EQUITABLE SERVITUDES. AM 6. WATER RIGHTS, CLAIMS, OR TITLE TO WATER. CHICAGO TITLE INSURANCE COMPANY 0NVNEX-FB/2-13-91/EK "TCAGO TITLE INSURANCE COMPA Policy No.: 432 682 EXTENDED OWNER POLICY SCHEDULE B (Continued) SPECIAL EXCEPTIONS A 1. EASEMENT AND THE TERMS AND CONDITIONS THEREOF: RESERVED BY: CITY OF RENTON PURPOSE: UTILITY AREA AFFECTED: VACATED ALLEY WITHIN PARCEL A RECORDED: JUNE 18, 1973 RECORDING NUMBER: 7306180482 B SAID INSTRUMENT BEING CITY OF RENTON ORDINANCE NUMBER 2779. c 2. AGREEMENT AND THE TERMS AND CONDITIONS THEREOF: BETWEEN: CITY OF SEATTLE, A MUNICIPAL CORPORATION AND: PEOPLES NATIONAL BANK, TRUSTEE UNDER WILL OF JOHN SWANSON AND HAYDEN WILLIAMS ESTATE — RUTH WILLIAMS, JERAY HOLMES AND CAROLYN HOLMES, CO—EXECUTORS RECORDED: JANUARY 6, 1984 RECORDING NUMBER: 8401061023 REGARDING: PERMIT TO USE A PORTION OF CITY'S 66 FOOT WIDE CEDAR RIVER PIPELINE RIGHT OF WAY ADJACENT TO PARCELS B AND F D 3. RIGHT OF THE PUBLIC TO MAKE NECESSARY SLOPES FOR CUTS OR FILLS UPON SAID PREMISES IN THE REASONABLE ORIGINAL GRADING OF STREETS, AVENUES, ALLEYS, AND ROADS AS DEDICATED IN THE PLAT. E AFFECTS: PARCEL A AN 4. MEMORANDUM OF GROUND LEASE, INCLUDING THE TERMS AND CONDITIONS OF THE LEASE DISCLOSED THEREIN: LESSOR: CITY OF RENTON, A MUNICIPAL CORPORATION OF THE STATE OF WASHINGTON LESSEE: SHERIDAN PROPERTIES, L.L.C. , A WASHINGTON LIMITED LIABILITY COMPANY RECORDED: JULY 7, 1995 RECORDING NUMBER: 9507071004 ** END OF SCHEDULE B ** CHICAGO TITLE INSURANCE COMPANY 0NV\=BS/2-13-91/Ux F SAGO TITLE INSURANCE COMPA..I Policy No.: 432682 EXTENDED OWNER POLICY SCHEDULE B (Continued) SPECIAL EXCEPTIONS AUTHORIZED SIGNATORY Loan Policy Endorsements: N/A Owner's Policy Endorsements: N/A CHICAGO TITLE INSURA_VCE COMPAW CHICAGO TITLE INSURANCE COMPANY 1800 COLUMBIA CENTER, 701 5TH AVE, SEATTLE, WASHINGTON 98104 IMPORTANT: This is not a Survey. It is furnished as a convenience to locate the land indicated hereon with reference to streets and other land. No liability is assumed by reason of reliance hereon. /ee ao !1 /oo 131E.14 N L Zo w F , • A.16,° lipvi R44 ' 0 0 tis p ° a � �1•` a W• • y tSY.eS • t=p,0 * 4 1 i; /7 . 0 0 h •A Y� h 7 \ e p� �/ 4' Jre D A z 25 J G a • e+ 0 "tt 1,0 b0 ti°eta ZZ 3roe /6' a : 7 h j5( e� I 22 /7 IL ; ..• s ° Oti •M, o w :l• 2 3� 4 3 ?�� " Je J° 1♦ « 14- S. seS. .° THIRD ST 2 e44.57— ae ae Sp 2 Ie 3 m •/+ 0 -to 4 44 G r° ¢ 5 4 3 2 / 14 h l O 17 h O 4 N y -j. l!fa }60 .+•°gyp 2 w a�l(e ' �� s IO •te � e Lt- Q ^i t 4 O , Re ap N A • 3 /t# t, IS e.°O A. 2/� i 7 � _ M � j°°°4S epi°! Z3. N.I e d �`0 �.m 23 t �Q D •°Ij a ` T �A � 2/D s•./4 Tito 4J 9 Obl- .�� •o��° r2 Cr g pro :150580 r,•p a : 5 =='i3 p�i�' 2/• /0 Q1 p '3.3 ,°�• eo i°t0: // '•0#00 . 7 c W �• I! q ��► o z Cr " 8 O!« /3 � tJ °;0/B _ /°3 -'00;04; t°t°/d m tro SO Op ° .'L� i i/t :,/°••�� e°� Y 4 'if �. �° y /� .,so�p0 �• WVk epy A _FOURTH ST. 3 W P � 6 S pYt•• X11 1)ej►117 I•\ 't' s 11 1e 11 11 � M I ft� 1 i I. .0 ♦ � / I l.t 1.i0 •� / O . 3 DEVELOPMENT PLANNING PROJECT NARRATIVE CITY OF RENTON Piazza and Gateway Development MAY 0 5 1999 Fm E The City of Renton's Community Services Department is proposing tWe e eloy4e t of the Piazza and Gateway in downtown Renton. The Piazza is approximately 29,500 square feet in size, located along the north side of South Third Street, between Burnett Avenue South and Logan Avenue South. The Gateway is approximately 7,500 square feet, located across Logan Avenue from the Piazza, at the northwest corner of South Third Street and Logan. The zoning and land use designation of both sites is CD (Center Downtown), which is identical to all properties immediately surrounding these parcels. In 1998, the City completed improvements to both sites. The Gateway parcel, site of a former gas station, had been fully paved and used more recently as a vehicle storage and parking area. Three underground storage tanks and other hazardous materials were removed, the pavement was removed and the site restored to a turf condition. The Piazza was formerly improved with an auto showroom building and parking for auto sales, which was all removed and the site also improved with turf. No structures, special features or above ground improvements currently exist on either parcel. Both sites are essentially flat, with less than 1% slope throughout. Because the sites have been significantly disturbed over the years, the existing soils are generally a mix of organics (imported topsoil at the top 2-4"), with clay and gravels below. The most significant features are two parallel City of Seattle Public Utilities (SPU) underground water pipelines that traverse the Piazza diagonally southeast to northwest. The two pipelines, 51" and 66" in diameter, are approximately 4Y2 to 5' below grade, and convey domestic water from SPU's Cedar River Reservoir. The 66'-wide parcel under which the pipelines run is owned by SPU, and all improvements on this parcel are subject to their approval. A formal agreement exists between the City of Renton and SPU that allows for park development on this parcel. The purpose of the project is to provide a public park for residents of downtown and to provide space for community-wide special events and activities. Development is a combination of paving and landscape features. Grade changes will be very subtle, occurring mainly to promote drainage and to create visual interest. Approximately 400 cubic yards of material will be imported to the site. 250 cubic yards of topsoil will be added for berming and planting beds, with 150 cubic yards of structural fill under paved walkways. Of the combined 37,000 sq. ft. of area in the Piazza and Gateway, roughly one-third will be irrigated planting areas and two-thirds paved. Three-fourths of the planted areas will be shrub, tree and groundcover plantings, with the remainder in turf grass. Two water features are proposed. A 20'-diameter water fountain is proposed in the northeast portion of the Piazza and a shallow "rushing river" water feature is proposed in the southwest portion of the Piazza. Special paving colors, textures and patterns are included for visual interest. Other site features include benches, boulders, tree grates, two shade trellises and raised seat walls. The entire project includes both PROJECT NARRATIVE.doc security and accent lighting throughout. Except for the trees, the tallest site features are expected to be the shade trellises (10') and security light poles (12'). Off-site improvements are limited to the right-of-way improvements to South 3rd Street, which will include new curb, gutter, sidewalk, lighting and street tree planting. Part of this work will include the removal and replacement of two existing street trees. Storm sewer and water connections will be made to the existing systems in Logan Avenue, which have been extended to the Piazza and Gateway as part of the recently completed Logan Avenue reconstruction project. The total estimated construction cost for both Gateway and Piazza is $1,000,000, with construction anticipated to begin summer of 1999 and extend through the end of the year. PROJECT NARRATIVE.doc t r w Fi i?C����! To�oT. o l= LEASE AGREEMENT d2�-b F'41e_ NO:327-815 (18-23-5 SE) THIS LEASE AGREEMENT between THE CITY OF SEATTLE, SEATTLE PUBLIC UTILITIES, a municipal corporation, referred to in this Agreement as "Seattle" and THE CITY OF RENTON, a municipal corporation, referred to in this Agreement as "Renton" (hereinafter collectively be referred to as the "Parties.") WITNESSETH: 1. Premises. Seattle hereby leases to Renton, and Renton hereby leases from Seattle, the real property, herein called "Leased Land" of 36,609 square feet, situated in the City of Renton, King County, State of Washington, described as follows: Parking Purposes: Parcel A: That portion of the City of Seattle, Cedar River Pipeline Right of Way located in Section 18, Township 23 North, Range 5 East, W.M, King County, Washington situated in Blocks 1 and 6 of the Plat of Smithers Sixth Addition to Renton, Volume 26 of Plats, page 47, records of King County, WA., and Block 1 of the Plat of Motor Line Addition to Renton, Volume 9 of Plats, page 50, records of King County, WA., lying north of South Third Street between the east margin of Morris Avenue South and west margin of Logan Avenue South, in Renton, Washington, and; Park Purposes: Parcel B: That portion of the City of Seattle, Cedar River Pipeline Right of Way located in Section 18, Township 23 North, Range 5 East, W.M, King County, Washington situated in Block 2 of the Plat of Motor Line Addition to Renton, Volume 9 of Plats, page 50, records of King County, WA., lying north of South Third Street and between the east margin of Logan Avenue South and the west margin of Burnett Ave. South, in Renton, Washington, �� . 2. Renton's Use of the Leased Land. Renton's use of Parcel A shall be used for public vehicle parking, access to the abutting north site and pedestrian crossing; and Parcel B shall be for park grounds. These parcels shall be used for these purposes only. All parking, access to the abutting north site and park designs shall be approved in writing by Seattle prior to construction of said parking said access and park areas, as more clearly defined in Section 7. A copy of detailed as-built plans shall be provided to Seattle within 60 calendar days after construction is complete including any reconstruction plans. MENT PLANNING CITY OF RENTON MAY 0 5 1999 RECEIVED 3. Term. The term of this Agreement shall be for forty(40)years, commencing on November 1, 1998 and end in December 31, 2038, unless canceled earlier under conditions set forth in this Agreement. 3.1 Effective Date November 1, 1998 shall constitute and be referred hereafter as the "Effective Date" of this Lease, or if later, at such time as Seattle City Council and the Seattle Mayor approve said lease. Renton shall obtain full possession of the Leased Land on said Effective Date. 4. Rent. As consideration for the rights and privileges of this Lease Agreement, Seattle agrees to the abeyance of rent during the term of this Lease in exchange of a forty(40) year agreement, from Renton to Seattle, for the operation, maintenance, repair and reconstruction of Seattle's Cedar River Pipelines Nos. 1, 2 and 3 lying within and under the streets described below: (a). Cedar River Pipeline No. 1 (66 inch diameter) and No. 2 (51-1/2 inch diameter) across Houser Way South and in South 3rd Street from Houser Way South to the west margin of Burnett Avenue South. (b) Cedar River Pipeline No 3 (66 inch diameter) in Mill Avenue South beginning at the southerly margin of the railroad within Houser Way South and extending northerly to South 2nd Street, thence westerly in South 2nd Street to a point 100 feet wet of the west margin of Logan Avenue South and the beginning of Seattle's fee-owned right-of-way. (c) That portion of Logan Avenue South, northerly of the Cedar River Pipelines to the City of Renton Linear Park. This portion is included herein under the condition, and in the event,; that Boeing transfers the water main in this right-of-way to the City of Seattle. 4.1 Renton may not sublet the property nor charge or collect money or fees for use of the property by others, except to cover costs for public events. 4.2 If at any time during the 40 year rental period Seattle sells, transfers or in anyway disposes of its ownership of said pipelines, Seattle may either revoke this lease or charge the then current fair market rental value. 5. Payment of Taxes, Utilities and Other Charges. 5.1 Utilities and Charges. Renton hereby covenants and agrees to pay, before delinquency, all charges for electricity, water, sewer, garbage removal, and all other public service or utility charges of every kind and type, charged, or imposed upon or against the Leased Land which are attributable to Renton's use. Renlea 2 10/30/98 6. Use of Leased Land. 6.1. Renton agrees to fully comply with all applicable requirements of State and Federal laws having jurisdiction over the Leased Land in connection with the use of the Leased Land. 6.2 Pollutants and Hazardous Substances. During the term of this Permit Agreement, Renton agrees to keep the Leased Land in compliance with any and all Environmental Laws and not cause or permit the Leased Land to become contaminated with any Hazardous Substances or Pollutants in violation of Environmental Laws. Upon notice or discovery of any release of any Hazardous Substance caused by Renton or expressly authorized by Renton to occur upon'the Leased Land, Renton shall, at its own cost, immediately take all necessary steps to report, respond to, and clean up the same and restore the Leased Land to its preexisting condition in accordance with applicable Environmental Laws and Requirements and shall report any-such release, to Seattle within 24 hours of discovery. 7. Improvements. 7.1 Renton may repair and/or improve the vehicle parking area and install grass, small shrubs and other enhancements in the park area of said Leased Land, provided that plans for such improvements be approved by Seattle in writing prior to construction of any enhancements, improvements, installations or alterations. Seattle shall respond in writing to Renton within forty-five (45) days from Renton's submittal of plans to Seattle. Seattle's approval of said plans shall not be implied or held to constitute approval or compliance with environmental, safety and other applicable regulatory requirements. All work performed by Renton shall be performed in accordance with all applicable State and Federal regulations and requirements. For the protection of the pipelines Renton shall notify Seattle at 425-255-2242 two days before any work is performed on said Leased Land. 7.2 No buildings, structures or rockeries of any type shall be placed upon the Leased Land unless specifically approved in writing by Seattle 7.3 Vehicular equipment/machinery, wheeled or tracked, exceeding a gross weight of 32,000 pounds per axle (HS 20-44) will be prohibited within said easement area. 8. Acceptance and Care of Premises. Renton covenants and agrees that the Leased Land shall be occupied and used in an orderly, fit, and sanitary condition and that the Leased Land shall be left in the same or better condition at the expiration or earlier termination of this Lease as existed on the Effective Date. Renlea 3 10/30/98 9. Surrender of Premises. 9.1 Renton agrees that at the expiration or earlier termination of this Lease, it will desist use of the Leased Land, including access to the abutting north property, and shall quit and surrender the Leased Land and deliver the Leased Land to Seattle. Renton will also remove, at its cost and expense, any or all improvements placed on the Leased Land by Renton if requested by Seattle. 9.2 At the conclusion of this Lease, Seattle shall, at its option, conduct a final site assessment to verify that the Leased Land's original environmental condition has been maintained during the Lease term. Renton shall fully remediate and restore any environmental damage to the Leased Land caused by Renton during the term of this Lease. 10. No Liens or Encumbrances. Renton agrees not to permit any lien or encumbrance from any source or for any purpose whatsoever to be placed against Seattle's interest in said Leased Land. 11. Hold Harmless. Release and Liability Insurance. 11.1 Renton's Indemnification. Renton, its successors, assigns, and guarantors agree to indemnify, defend, and hold harmless Seattle, its officers, and employees from and against any and all claims, demands, damages, losses, liens, penalties, fines, expenses of every kind and nature, including attorney's fees, and liability for the following: 11.1.1 Any claims or liability arising from accident or injury or damage to property on or about the Leased Land caused by Renton's use of said Leased Land, or by its agents, tenants, licensees, invitees, employees, or other occupants of the Leased Land. 11.1.2 As between the parties and for the purposes of the foregoing obligations Renton waives any immunity, defense or other protection that may be afforded by any workers compensation, industrial insurance or similar laws (including buy not limited to, the Washington Industrial Insurance Act, Title 51 of the Revised Code of Washington). 11.1.3 Any activities or use of the Leased Land by Renton which cause or knowingly permit the release or the threatened release of any Hazardous Substance on the Leased Land. 11.1.4 This indemnification shall survive the termination of this Lease. This indemnification shall not apply to Hazardous Substances generated, discharged, or deposited on the Leased Land prior to the Effective Date of this Lease. Additionally, this indemnification shall not apply to Hazardous Substances generated, discharged or deposited on the Leased Land Renlea 4 10/30/98 after the Effective Date which arise from Seattle's activities on the Leased Land, and shall not apply to Hazardous Substances which migrate onto the Leased Land from off-site. Seattle, at its sole expense may employ additional counsel of its choice to associate with counsel defending against any such claims, lawsuits, or administrative proceedings. 11.2 Renton's Insurance. Renton will provide and keep in full force and effect during the term of this Lease, public liability insurance with limits of not less than Five Million Dollars ($5,000,000) covering injuries to persons, including death, and loss of or damage to real and personal property. Such insurance may be provided under Renton's blanket comprehensive liability insurance policy. During the term of this Lease, Seattle shall be named as an additional insured under such insurance to the extent of Renton's undertaking set forth in Section 11.1. entitled "Renton's Indemnification." including any claims of accident, injury, or damage arising from Renton's use of the Leased Land. A certificate evidencing such insurance coverage shall be delivered to Seattle not less than fifteen (15) days prior to the commencement of the Term hereof. Such certificate of insurance will provide for fifteen (15) days advance notice in the event of cancellation. 11.2.1 If Renton is self-insured Renton will provide Seattle with written evidence to that effect. Renton must require any contractor and/or subcontractor working or using this site on behalf of Renton, to maintain insurance coverage in accordance with Section 11.2. 12. Repair, Removal, Relocation. 12.1 Renton acknowledges that the explicit purpose of this property is for the operation, maintenance, repair, construction and reconstruction of water pipelines; all other uses are subordinate to this use. Seattle shall not be responsible for Renton's facilities when Seattle finds it necessary to repair, construct or reconstruct the pipelines, or in any way disrupt the right-of-way for the operation and maintenance of said pipelines, however, in case of excavation by Seattle, Seattle shall replace fill to grade. During such occurrences, Renton shall, at no expense to Seattle, replace, adjust, remove, relocate or reconstruct its facilities, including all landscaping, appurtenant facilities and service lines, within the Seattle right-of-way. Except in emergencies, Seattle will give Renton written notice of such requirement as soon as practicable. In emergency situations, Seattle shall have the right to tow vehicles off the right-of-way and to post signs or have Renton post signs accordingly. 12.2 As regards to Paragraph 12.1, Seattle will not be responsible or liable for the access to the site for any reason whatsoever. 13. Taking. In the event of an eminent domain taking, the Parties agree that Seattle shall be entitled to all condemnation awards granted for the taking of the land and improvements, except any sums awarded as compensation for the improvements placed on the Leased Land by Renton. Renlea 5 10/30/98 14. Right of Termination. 14.1 In addition to the specific rights of Seattle or Renton to terminate this Lease as more particularly set forth in this Lease, at any time during the term of this Lease, Renton shall have a general right to terminate this Lease in the event that it determines, at its sole discretion, the Leased Land has become unsuitable for the uses designated in Section 2 above. In such event, Renton shall provide Seattle no less than sixty (60) days written notice prior to the proposed termination date, unless otherwise specified in this Lease, and surrender the property in accordance with Section 9 of this Lease. The indemnification, duties to comply with law and duties to restore property, provided under this Lease, shall survive termination. 14.2 In addition to the specific rights of Renton to terminate this Lease, at any time during the term of this Lease, Seattle shall have a right to terminate this Lease in the event it determines, at its sole discretion, Renton's use of the Leased Land does not meet regulatory requirements or standards. 15. Default. If at any time during the term of this Lease Renton shall fail to comply with any of the other terms and conditions of this Lease, Seattle shall give written notice to Renton of such default and request Renton to comply with the terms and provisions of this Lease, as the case may be. If such default is not cured within thirty(30) days of Renton's receipt of Seattle's written notice as to the default, or within such period as Seattle determines is reasonable if Seattle determines that the condition caused by such default is a threat to public health and safety, or the environment, Seattle shall have, in addition to such remedies as may be afforded by the laws of the State of Washington, the power and right to declare this Lease terminated and reenter the Leased Land, but notwithstanding such remedies or termination and reentry by Seattle, Renton covenants and agrees to make good to Seattle any deficiency arising from the reentry, removal of personal property and/or improvements, and restoration of the Leased Land and to pay such deficiency upon demand of Seattle. 16. Seattle May Perform. If Renton fails to do any act or thing required to be done by Renton under this Lease, Seattle shall notify Renton of such failure, and give Renton thirty(30) days to perform such act or thing, except for conditions which pose a threat to public health, safety or the environment. In the event Renton fails to perform within said thirty (30) days, Seattle shall have the right at its sole option, but not the obligation, to do such act or thing on behalf of Renton and upon notification of Seattle's reasonable expenditure in connection therewith, Renton shall immediately repay Seattle the amount thereof plus interest at the prevailing rent, per annum, from the date of Seattle's invoice for said expenditure to the date of Renton's repayment. 17. Attorneys' Fees. If any suit or legal action is instituted in connection with any controversy or default arising out of this Lease, the prevailing party shall be entitled to recover costs including such sum as the court may adjudge as reasonable attorney fees and reasonable attorneys' fees on appeal. Renlea 6 10/30/98 18. Non-Waiver. The failure of either party to insist upon strict performance of any of the terms and provisions of this Lease shall not be construed as a waiver or relinquishment of any such terms or conditions, or of any other term or condition, but the same shall be and remain in full force and effect. 19. Notices. Any notice, consent, request, or other communication provided for in this Lease shall be in writing. Such notice, consent, request, or other communication shall be sent by mail to the Seattle, by mailing the same to Seattle at: Seattle Public Utilities Real Property Services 710 Second Avenue, 9th Floor Seattle, WA 98104 Such notice, consent, request or other communication shall be sent by mail to the Renton, by mailing the same to Renton at: City of Renton Planning/Building/Public Works Department 1055 South Grady Way Renton, WA 98055 Notices sent by mail shall be deemed to have been given when properly mailed; the postmark affixed by United States Post Office shall be conclusive evidence of the date of mailing. The party to receive the notice, consent, request, or other communication may hereafter designate another address to the other party, in which case the notice, consent, request or other communication shall be sent to that other address. Alternatively, such notice, consent, request or other communication may be personally delivered to the party to receive the same. 20. Extension. This Lease Agreement may by extended upon mutual agreement of the parties. 21. Assignment or Subletting Renton may not sublet or assign this Lease Agreement. 22. Jurisdiction. This permit is intended to convey limited rights and interest only. None of the rights granted to Renton shall affect jurisdiction of Seattle over the Leased Land or the Lessors power to perform work on said land. Renton shall in no way interfere with the Lessors present or future use of said Leased Land. 23. Bindin Effect. The covenants and agreements of this Lease shall be binding upon and inure to the benefit of Seattle and Renton and their heirs, executors, administrators, and successors. Renlea 7 10/30/98 IN WITNESS WHEREOF, pursuant to the provisions of Ordinance 119202 of the City of Seattle, the parties hereto have executed this Lease thereunto duly authorized the day and year indicated below their signatures. ACCEPTED BY CITY OF RENTON: CITY OF SEATTLE: J sse Tanner Diana Gale ayor, City of Rejntowwn,. Director, Seattle Public Utilities Date: 371 \T�t Date: I — 9- q2 ATTEST: { Brenda Fritsvol , Deputy City Clerk Renlea 8 10/30/98 COMMITMENT FOR TITLE INSURANCE ISSUED BY PACIFIC NORTHWEST TITLE INSURANCE COMPANY, INC., a Washington corporation, herein called the Company, for a valuable consideration, hereby commits to issue its policy or policies of title insurance, as identified in Schedule A, in favor of the proposed Insured named in Schedule A, as owner or mortgagee of the estate or interest covered hereby in the land described or referred to in Schedule A, upon payment of the premiums and charges therefor; all subject to the provisions of Schedules A and B and to the Conditions and Stipulations hereof. This Commitment shall be effective only when the identity of the proposed Insured and the amount of the policy or policies committed for have been inserted in Schedule A hereof by the Company, either at the time of the issuance of this Commitment or by subsequent endorsement. This Commitment is preliminary to the issuance of such policy or policies of title insurance and all liability and obligations hereunder shall cease and terminate six months after the effective date hereof or when the policy or policies committed for shall issue, whichever first occurs, provided that the failure to issue such policy or policies is not the fault of the Company. Signed under seal for the Company, but this Commitment shall not be valid or binding until it bears an authorized Countersignature. IN WITNESS WHEREOF, Pacific Northwest Title Insurance Company, Inc. has caused its corporate name and seal to be hereunto affixed by its duly authorized officers on the date shown in Schedule A. PACIFIC NORT'HVVEST TITLE Insurance Company, Inc. all President �%t1E IHSVJ Coersi gned'/I : J° r,pRPORATF o C* . :+ Authorized Signatory=..SEAL J at 6%." 1926 00.1't Company r'ACIFIC NORTHWEST Tlfl� �gSHINGt�� Seattle, Washington a111a1a1N City,State American Land Title Association Commitment-1966 E PACIFIC NORTHWEST TITLE COMPANY OF WASHINGTON, INC. 215 Columbia Street Seattle, Washington 98104-1511 Senior Title Officer, Mike Sharkey (mikesharkey@pnwt. com) Assistant Title Officer, Curtis Goodman (curtisgoodman@pnwt. com) Assistant Title Officer, Russell T. Lund (russe111und@pnwt. com) Unit No. 12 FAX No. (206) 343-1330 Telephone Number (206) 343-1327 City of Renton, Community Services 1055 South Grady Way, 5th Floor Title Order No. : 408474 Renton, WA 98055 Attention: Lesley Wiscomb, Capital Project Coordinator A. L. T. A. COMMITMENT SCHEDULE A Effective Date: June 29, 2000, at 8: 00 a.m. 1. Policy(ies) to be issued: A. ALTA Owner' s Policy Amount TO BE AGREED UPON Standard (X) Extended ( ) Premium Tax (8. 60) Proposed Insured: TO FOLLOW NOTE: IF EXTENDED COVERAGE FOR OWNERS OR LENDERS WILL BE REQUIRED FOR A PENDING TRANSACTION, PLEASE NOTIFY US AT LEAST ONE WEEK PRIOR TO CLOSING SO THAT WE MAY INSPECT THE PREMISES. B. WORK CHARGES Amount $ 330. 00 Tax (8 . 60) $ 28 . 38 2. The Estate or interest in the land described herein and which is covered by this commitment is fee simple. 3. The estate or interest referred to herein is at Date of Commitment vested in: CITY OF RENTON, a municipal corporation of the State of Washington 4 . The land referred to in this commitment is situated in the County of King, State of Washington, and described as follows: As on Schedule A, page 2, attached. } Order No. 408474 A.L.T.A. COMMITMENT SCHEDULE A Page 2 The land referred to in this commitment is situated in the county of King, State of Washington, and described as follows: That portion of Government Lot 4 in Section 17, Township 23 North, Range 5 East W.M. , in King County, Washington, described as follows: Beginning at a point on the west line of said Government Lot, 721.39 feet south of the northwest corner of said Government Lot 4; Thence east at right angles to said west line 656. 03 feet, more or less, to the west line of a tract of land conveyed to Seattle Car Manufacturing Company by deed recorded under Recording Number 477920; Thence in a southwesterly direction along said westerly boundary line, which line is parallel to and 100 feet westerly of the westerly boundary line of the right of way of the Columbia and Puget Sound Railway Company (Newcastle Branch) , a distance of 597.33 feet to the northerly boundary line of the Commercial Water Way District No. 2; Thence in a northwesterly direction along said northerly boundary line a distance or 440. 80 feet to the west line of said Government Lot 4; Thence north along said west line a distance of 293. 10 feet to the point of beginning; EXCEPT that portion thereof lying within North Bronson Way. END OF SCHEDULE A NOTE 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 . Said abbreviated legal description is not a substitute for a complete legal description within the body of the document. Ptn. Gov. Lot 4, 17-23-05 PACIFIC NORTHWEST TITLE COMPANY OF WASHINGTON, INC. A.L.T.A COMMITMENT Schedule B Order No. 408474 I. The following are the requirements to be complied with: A. Instruments necessary to create the estate or interest to be insured must be properly executed, delivered and duly filed for record. B. Payment to or for the account of the grantors or mortgagors of the full consideration for the estate or interest to be insured. II . Schedule B of the Policy or Policies to be issued (as set forth in Schedule A) will contain exceptions to the following matters unless the same are disposed of to the satisfaction of the Company: A. Defects, liens, encumbrances, adverse claims or other matters, if any created, first appearing in the public records or attaching subsequent to the effective date hereof but prior to the date the proposed Insured acquires for value of record the estate or interest or mortgage thereon covered by this Commitment. B. GENERAL EXCEPTIONS: 1 . Rights or claims of parties in possession not shown by the public records. 2. Public or private easements, or claims of easements, not shown by the public record. 3. Encroachments, overlaps, boundary line disputes, or other matters which would be disclosed by an accurate survey or inspection of the premises. 4 . Any lien, or right to a lien, for services, labor or material heretofore or hereafter furnished, imposed by law and not shown by the public records, or Liens under the Workmen's Compensation Act not shown by the public records. 5. Any title or rights asserted by anyone including but not limited to persons, corporations, governments or other entities, to tide lands, or lands comprising the shores or bottoms of navigable rivers, lakes, bays, ocean or sound, or lands beyond the line of the harbor lines as established or changed by the United States Government. 6. (a) Unpatented mining claims; (b) reservations or exceptions in patents or in Acts authorizing the issuance thereof; (c) water rights, claims or title to water. 7. Any service, installation, connection, maintenance, capacity, or construction charges for sewer, water, electricity or garbage removal. 8 . General taxes not now payable or matters relating to special assessments and special levies, if any, preceding the same becoming a lien. 9. Indian tribal codes or regulations, Indian treaty or aboriginal rights, including, but not limited to, easements or equitable servitudes. C. SPECIAL EXCEPTIONS: As on Schedule B, attached. Order No. 408474 A.L.T.A. COMMITMENT SCHEDULE B Page 2 SPECIAL EXCEPTIONS: NOTE FOR INFORMATION PURPOSES ONLY: EFFECTIVE JANUARY 1, 1997, AND PURSUANT TO AMENDMENT OF WASHINGTON STATE STATUTES RELATING TO STANDARDIZATION OF RECORDED DOCUMENTS, THE FOLLOWING FORMAT AND CONTENT REQUIREMENTS MUST BE MET. FAILURE TO COMPLY MAY RESULT IN REJECTION OF THE DOCUMENT BY THE RECORDER. FORMAT: MARGINS TO BE 3" ON TOP OF FIRST PAGE, 1" ON SIDES AND BOTTOM - I- ON TOP, SIDES AND BOTTOM OF EACH SUCCEEDING PAGE. RETURN ADDRESS IS ONLY ITEM ALLOWED WITHIN SAID 3" MARGIN. NOTHING WITHIN 1" MARGINS. FONT SIZE OF 8 POINTS OR LARGER AND PAPER SIZE OF NO MORE THAN 8 1/2" BY 14". NO ATTACHMENTS ON PAGES SUCH AS STAPLED OR TAPED NOTARY SEALS; PRESSURE SEALS MUST BE SMUDGED. INFORMATION WHICH MUST APPEAR ON THE FIRST PAGE: RETURN ADDRESS, WHICH MAY APPEAR WITHIN THE UPPER LEFT HAND 3" MARGIN. TITLE OR TITLES OF DOCUMENT. IF ASSIGNMENT OR RECONVEYANCE, REFERENCE TO RECORDING NUMBER OF SUBJECT DEED OF TRUST. NAMES OF GRANTOR(S) AND GRANTEE (S) WITH REFERENCE TO ADDITIONAL NAMES ON FOLLOWING PAGES, IF ANY. ABBREVIATED LEGAL DESCRIPTION (LOT, BLOCK, PLAT NAME, OR SECTION, TOWNSHIP, RANGE AND QUARTER QUARTER SECTION FOR UNPLATTED) . ASSESSOR'S TAX PARCEL NUMBER(S) . (continued) Order No. 408474 A.L.T.A. COMMITMENT SCHEDULE B Page 3 SPECIAL EXCEPTIONS (continued) : 1. EASEMENT AND THE TERMS AND CONDITIONS REFERENCED THEREIN, INCLUDING, BUT NOT LIMITED TO, THE FOLLOWING: GRANTEE: Postal Telegraph Cable Co. PURPOSE: Telegraph lines AREA AFFECTED: The description contained therein is not sufficient to determine its exact location within the property herein described. RECORDED: November 21, 1910 RECORDING NUMBER: 717662 2. EASEMENT AND THE TERMS AND CONDITIONS REFERENCED THEREIN, INCLUDING, BUT NOT LIMITED TO, THE FOLLOWING: GRANTEE: Municipality of Metropolitan Seattle, a Washington corporation PURPOSE: Installing, constructing, operating, maintaining, removing, repairing, replacing and using a sewer line with all connections, manholes and appurtenances thereto AREA AFFECTED: A portion of said premises and other property RECORDED: June 12, 1962 RECORDING NUMBER: 5438752 3. UNDERGROUND UTILITY EASEMENT, AND THE TERMS AND CONDITIONS REFERENCED THEREIN, INCLUDING, BUT NOT LIMITED TO, THE FOLLOWING: GRANTEE: Puget Sound Power & Light Company, a Washington corporation PURPOSE: Underground electric system AREA AFFECTED: A portion of said premises RECORDED: March 6, 1968 RECORDING NUMBER: 6313672 Contains covenant prohibiting structures over said easement or other activity which might endanger the underground system. (continued) Order No. 408474 A.L.T.A. COMMITMENT SCHEDULE B Page 4 4 . UNDERGROUND UTILITY EASEMENT, AND THE TERMS AND CONDITIONS REFERENCED THEREIN, INCLUDING, BUT NOT LIMITED TO, THE FOLLOWING: GRANTEE: Puget Sound Power & Light Company, a Washington corporation PURPOSE: To construct, operate, maintain, repair, replace and enlarge an underground electric transmission and/or distribution system AREA AFFECTED: A portion of said premises and other property RECORDED: October 31, 1988 RECORDING NUMBER: 8810310324 Contains covenant prohibiting structures over said easement or other activity which might endanger the underground system. 5. RESTRICTIONS CONTAINED IN INSTRUMENT: RECORDED: September 11, 1917 RECORDING NUMBER: 1159934 INCLUDING BUT NOT LIMITED TO THE FOLLOWING: The lands hereby conveyed to the grantee for public park, and the grantee by the acceptance of this deed, hereby covenants and agrees with the grantors, their heirs and assigns, that it, its successors and assigns, will not use any of said lands or permit the same to be used for any other use or purpose than that of a public park and as a site for a public buildings of the grantee, and this covenant shall run with the land. AFFECTS: Said premises; except the northerly 60 feet thereof 6. EXCEPTIONS AND RESERVATIONS CONTAINED IN DEED: FROM: Jennie Sartori, Ersilia M. Sharboro, Katherine E. Sartori and Laura G. Sartori DATED: August 11, 1917 RECORDED: September 11, 1917 RECORDING NUMBER: 1159934 (continued) Order No. 408474 A.L.T.A. COMMITMENT SCHEDULE B Page 5 INCLUDING BUT NOT LIMITED TO THE FOLLOWING: The grantors except from the operation of this deed, and reserve unto themselves, their heirs and assigns, all coal in and under the surface of said lands with the right to mine and remove the same but without the right to enter upon the surface of said lands for such purpose; and provided that the grantors shall protect the surface of said land from all damages because of such mining NOTE: No examination has been made to determine the present record owner of the above minerals, or mineral lands and appurtenant rights thereto, or to determine matters which may affect the lands or rights so reserved. AFFECTS: Said premises; except the northerly 60 feet thereof 7 . EXCEPTIONS AND RESERVATIONS CONTAINED IN DEED: FROM: Jennie Sartori, Ersilia M. Sharboro, Katherine E. Sartori and Laura G. Sartori DATED: July 8, 1935 RECORDED: August 14, 1935 RECORDING NUMBER: 2863947 INCLUDING BUT NOT LIMITED TO THE FOLLOWING: The grantors except from the operation of this deed and reserve unto themselves their heirs and assigns all coal, mineral and oil in and under the surface of said lands with the right to mine and remove the same but without the right to enter upon or damage the surface of said lands for such purposes NOTE: No examination has been made to determine the present record owner of the above minerals, or mineral lands and appurtenant rights thereto, or to determine matters which may affect the lands or rights so reserved. AFFECTS: The northerly 60 feet of said premises 8 . Any question that may arise due to shifting and changing in course of the Cedar River. 9. Right of the State of Washington in and to that portion, if any, of the property herein described which lies within the former bed of the Cedar River. (continued) Order No. 408474 A.L.T.A. COMMITMENT SCHEDULE B Page 6 10. Any prohibition of or limitation of use, occupancy or improvement of the land resulting from the rights of the public or riparian owners to use any portion which is now or has been formerly covered by water. 11. The property herein described is carried on the tax rolls as exempt; however, it will become taxable from the date of transfer to a taxable entity. TAX ACCOUNT NUMBER: 172305-9043-09 NOTE: PLEASE CONTACT THE KING COUNTY ASSESSORS OFFICE TO VERIFY THE TAX AMOUNT DUE, AS EXEMPT TAXES ARE SUBJECT TO CHANGE WITHOUT NOTICE, THE TELEPHONE NUMBER IS 206-296-5151. 12. Unrecorded leaseholds, if any; rights of vendors and holders of security interests on personal property installed upon said property and rights of tenants to remove trade fixtures at the expiration of the term. 13. Satisfactory showing of authorization for the proposed conveyance by City of Renton, in accordance with applicable statutes must be submitted. 14 . Until the amount of the policy to be issued is provided to us, and entered on the commitment as the amount of the policy to be issued, it is agreed by every person relying on this commitment that we will not be required to approve any policy amount over $100, 000, and our total liability under this commitment shall not exceed that amount. 15. Title is to vest in persons not yet revealed and when so vested will be subject to matters disclosed by a search of the records against their names. 16. Payment of Real Estate Excise Tax, if required. The property described herein is situated within the boundaries of local taxing authority of City of Renton. Present Rate of Real Estate Excise Tax as of the date herein is 1. 78%. (continued) `7 Order No. 408474 A.L.T.A. COMMITMENT SCHEDULE B Page 7 NOTE 1: SPECIAL TAXES AND CHARGES: YEAR: 2000 TAX ACCOUNT NUMBER: 172305-9043-09 AMOUNT BILLED: $5.00 AMOUNT PAID: $5. 00 END OF SCHEDULE B Title to this property was examined by: Anne Knight Any inquires should be directed to one of the title officers set forth in Schedule A. ed fh. O1�1 L of 3 4�7:ign�r °,t+ a i if �a . i,J •O.w ai+i�.5 x`ir iI i iJ�..r ai �.)`t 1O .°^°a�Z ) ` � J ? D '�3r '4 (., sps r am ae„ ' .,. N. • 2ND. 5T. A � Jf r rB � ysl�° ST. „,g s s ` ie - n,av s,s•s if ��' s :e;t t. b *.Y sw 24 ': n ,ni> E�`Ci'S�G• safe —_. .i J s to ...Y...... -^ N•i _ c , r� s'• fns < ,< i ........._-' „ .W �w J �srs 2 'n�7 •3 er a.,.e '� 'ie,. •�—"r�� ..,.».•' t„t ry� LIT 0, �i a .a eno �s ss f i L• 1 ,� t��+,r,..•e.ss- s°ers �. r ' ? f.•' °'' t° �0s9•rA:� +1 9 es+' ♦J, ;' r 1V ti a, lSl+ :0j P✓ ?-y ” ��,l 'suss st 1r� 1 os° sa N .4 0WA i \ sfp .>• s �� o �� � ,� ylr t�•¢p. - esJ..s NAO o7-eoa - .i ? yr N1�,� � ` J °j:) AfC x� lo y $ I � sssa. O 93 P,v �l�Jyl 5JJ11�•..L.J PACIFIC NORTHWEST TITLE COMPANY N Order No.�0MI a IMPORTANT: This is not a Plat of Survey. It is furnished as a convenience to locate the land indicated hereon with reference to streets and other land. No liability is assumed by reason of reliance hereon. tit v 'nur 4 1318.14 - 44 .• 4o 7u9 u ✓_ y *. n 9 O 9 � /D OOC 44 izd°o %1 000OL DOV 000, a°000 - v W 6430-,z Z�.ss 5 a 6�� ,Loos /3h h 1p " 4 0010 10 /4` �ig3'o ys „ I Q 2 ¢3'S ° 3 h D• e+ r 3 �o Lg0 .aa 16 -- A r FI b N yl 33 s ( �2 /7h ,p ^� N p h n 1wr0 '�O ►� ^b^ F M V N �4 N O N 9 g b' h^� z o�� 1'h l� p�j o n y p 5 t 8 V 3o e/ w !'e, 2 •3 04 OJT v 1v��eoy h / 44 44 54 7 /oo ° 30 30 737.07 S. M THIRD ST M ° 0 I �3CD .cVE.� Z K1 BGC 34 30 4f 44 40 40 4¢ p` ` , '� 3 co�. 3U 3o �0 .10 Q ?� 4 v 4p sa N 5 4 0°0d„�'T d o 54aVo04111�45p�10�°� O �7 p�gb70's0 4 D4�0U0 9XQA p`�c4Oo2f3�4 4ci�4 '610 > 00Q/Zo e10 /Z� /ZNU 3 7 0 0 ?o In 05 h NaQ o') (!1 6 Ab A60�ot3S E�; ,, 8 24 �� 0 23 > o � /20 9 O ,lei,° "a�t�° W 9 .>!010o f�71!5058cpo z r U r Q PACIFIC NORTHWEST TITLE COIti IPAINT' NOR 7 Formerly Snnvart Title Company Order No.— �� 5 1 IMPORTANT: This is not a Plat of Survey. I: is furnished as a convenience to locate the land ndicated hereon with reference to streets and other land. No liability is assumed by reason of fiance hereon. - SOUL SZ.06 Sg,7o 40 So 0 > 0 ss•oz so /6 90 T W o � I o/Z 73 — C' l� 411 rr o r} rA Ar. S - L. a. --�4 rn O 21779h 38.29 so 2 $ L Y� AM S b �� OOOUOS 3 r) ff n s� a04701 D z o 0 oa O Oo 59.8 9 70.7_3 50 LOGAN 40-44- aYd3 3 . N lx ev �Llrhl�' v 5 1 QC�op t 0 �o. i 9 G S So B-o-/3 15>4, tt tom... . .. . .... . . .. _ . . .... .. N . . . 9.. � .. . �. .�s ...� i V► E es ys ' � t � �' 14 r r4 SN b ` 4 � 01 WHEN RECORDED REtURNTO DON DALLY, PRESIDENT DALLY HOMES, INC. O 3316 FUHRMAN AVVENUE EAST SEATTLE, WA 98102 ch CHICAGO TITLE INSURANCE COMPANY � N STATUTORY WARRANTY DEED 982757 + 0 n ` Dated: APRIL 21, 1998 � THE GRANTOR .f ti THE CITY OF RENTON, A MUNICIPAL CORPORATION 0 W for and in consideration of TEN DOLLARS AND OTHER GOOD AND VALUABLE CONSIDERATION in hand paid,conveys and warrants to ,•, RENTON RENAISSANCE APARTMENTS LLC, A WASHINGTON LIMITED LIABILITY COMPANY "a V4 14 the following described real estate situated in the County of KING State of Washington: Tax AccountNumber(s): 569600-0010-06 AND Itp 569600-0010-06. THE ABBRMATED LEGAL DESCRIPTION IS AS FOLLOWS: LOTS 6-7, BLOCK 1, VOLUME 26 PLATS, PO 47; AND LOTS 2-25, BLOC1t 1, VOLWM 9 OF PLATS, PO 50. THE COMPLETE LEGAL DESCRIPTION I8 LOCATED ON PAGE 2 AS 91HIBIT A. SUBJECT TO.- EXCEPTIONS SST FORTH ON ATTACHED WMISIT •B' AND BY THIS RIFRRENCE NADE A PART HEREOF AS IF FULLY INCORPORATED HEREIN. $ SEE ATTACHED DESCRIPTION CHICAGO U W.CO. $ REF# M051 411,03 W SK;NATUAE PAGE ATTACHED. S 0 aaStt CHICAGOTITLE INSURANCE COMPANY Escrow No.: 482757 EXHIBITA Tillc No.: 482757 SIGNATURE PAGE S'HE CTT7 OF REWSOW, TRE CITY OF Itrwfo[t, - A MUNICIPAL CORPORATION a talcorZporatio BY: —Pr B ITS: Mayor Its Mayor ProTem STATE OF WASHINGTON sa COUNTY OF RING I CERTIFY THAT I KNOW OR HAVE SATISFACTORY EVIDENCE THAT JJC-44r. --4A(/✓E9- _ IS THE PERSON WHO APPEARED BEFORE HE, AND SAID PERSON ACKNOWLEDGED THAT #E SIGNED THIS INSTRUMENT, ON OATH STATED THAT WAS AUTHORIZED TO EXECUTE THE INSTRUMENT AND ACKNOWLEDGED IT AS A *AI%,71)gV WA&frry ftOF THE CITY OF RENTON, A MUNICIPAL CORPORATION, TO BE THE FREE AND VOLUNTARY ACT OF SUCH d PARTY FOR THE USES AND PURPOSES MENTIONED IN THE INSTRUMENT. ADATED: APRIL 40 1998. xi PRINTED NAMEt NOTARY PUBLIC IN AND FOR THE STATE OF WASHINGTON RESIDING AT A-AMA/ MY APPOINTMENT EXPIRES ILI 'c uC4WG 2 A0�,.0� o STATE OF WASHINGTON 55. COUNTY OF KING I certify that I know or have satisfactory evidence that _ - /41n/& PA gk_0& is the person who appeared before me and said person acknowledged that _ signed this instrument, on orth @tated that was authorized to execute the instrument and ackfiQed it as a Statutory Warranty Deed of the City of Renton, a Ifu �,p Corporation, to be the free and voluntary act of such pJ&_V.*k UP uses and purposes mentioned in the instrument. Dated: April 1998 .� Notary PdbW in and for tlkg Itate of Washington iding at:-j Al NAME:AfJW.9d My appointment expires: CHICAGO TITLE INSURANCE COMPANY t EXHIBIT B EsaowNo.: 482757 SUBJECTTO: • 1. EASEMENT AND THE TERMS AND CONDITIONS THEREOF: RESERVED BY: CITY OF RENTON PURPOSE: UTILITY AREA AFFECTED: VACATED ALLEY WITHIN PARCEL A ' --- RECORDED: - - -Jtl!?L�IE RECORDING NUMBER: 7306180482 I • SAID INSTRUMENT BEING CITY OF RENTON ORDINANCE NUMBER 2779. c 2. RIGHT OF THE PUBLIC TO MAKE NECESSARY SLOPES FOR CUTS OR FILLS UPON SAID PREMISES IN THE REASONABLE ORIGINAL GRADING OF STREETS, AVENUES, ALLEYS, AND ROADS AS DEDICATED IN THE PLAT. n AFFECTS: PARCEL A 4. THE PROPERTY HEREIN DESCRIBED IS CARRIED Oil THE TAX ROLLS AS fl; EXEMPT, HOWEVER IT WILL BECOME TAXABLE ON THE DATE OF THE EXECUTION OF A CONVEYANCE TO A TAXABLE ENTITY AND SUBJECT TO THE LIEN OF REAL PROPERTY TAXES FOR THE BALANCE OF THE YEAR FROM THAT =i qtT DATE. eq TAX ACCOUNT NUMBER: 784180-0035-00 LEVY CODE: 2100 ASSESSED VALUE-LAND: $ 236,300.00 ASSESSED VALUE-IMPROVEMENT: $ 700.00 AFFECTS: GENERAL TAXES AS TO PARCEL A. r 6. THE PROPERTY HEREIN DESCRIBED IS CARRIED ON THE TAX ROLLS AS EXEMPT, HOWEVER IT WILL BBCOHN TAXABLE ON THE DATE OF THE EXECUTION OF A CONVEYANCE TO A TAXABLE ENTITY AND SUBJECT TO THE LIEN OF REAL PROPERTY TAXES FOR THE BALANCE OF THE YEAR FROM THAT ` DATE. TAX ACCOUNT NUMBER: 569600-0010-06 LEVY CODE: 2100 ASSESSED VALUE-LAND: $ 143,200.00 ASSESSED VALUE-IMPROVEMENT: $ 11,300.00 AFFECTS: GENERAL TAXES AS TO PARCEL B. c3HCAGO'IM.PKSURANCCCOMPANY exhibit/cW121396 CHICAGO TITLE INSURANCE COMPANY EXHIBIT A Escrow No.: 482757 LEGAL DESCRIPTION The;and referred to is situated in the State of Washington,County of KING ,and is described as follows. PARCEL A: LOTS 6 AND 7, BLOCK 1, SMITHER'S SIXTH ADDITION TO THE TOWN OF RENTON, ACCORDING TO THE PLAT THEREOF, RECORDED IN VOLUME 26 OF PLATS, PAGE 47, IN '—` lCIPG t�l7d'!'T, /fASlfitR3S0lr: -. - TOGETHER WITH THAT PORTION OF THE ALLEY ADJACENT TO SAID LOT 6 VACATED BY CITY OF RENTON ORDINANCE NUMBER 2779, WHICH ATTACHED BY OPERATION OF LAW. PARCEL B: \ LAT 2 THROUGH 5, INCLUSIVE, BLOCK 1, MOTOR LINE ADDITION TO RENTON, ACCORDING TO THE PLAT THEREOF, RECORDED IN VOLUME 9 OF PLATS, PAGE 50, IN KING COUNTY, WASHINGTON. C) ClIICAGOT .!INWRAt"..ODWPANY PLEASE TYPE OR PRINT REAL ESTATE EXCISE TAX AFFIDAVIT This form is your`receipt when stamped PLEASE SEE REVERSE by cashier. CHAPTER 82.45 RCW- CHAPTER 45$-61 WAC For Use at County Treasurer's Office (Use Form No. 84-OOOIB for Reporting Transfers of Controlling Interest of Entity Ownership to the Department of Revenue) THIS AFFIDAVIT WILL NOT BE ACCEPTED UNLESS ALL AREAS 1-7 ARE FULLY COMPLETED Name THE CITY OF ItEIaTOU, ® Name RI;i9`1'ON RI'N isSSMIC )" APNRILMENTS x i .I1I31dTCTP1 L CYOItPUt4..1it9N x _ 111ABiII112Y t' .4-1PiANY Street 200 144M AVerlue `.ioUti Street 33.i u 'r`ttr1r1_ian Eve. E. Suite iou City/State/Zip Renton, t�A 96055 City/State/Zip ''eH "t' E�' �' A 9 8i 6 ADDRESS TO SEND ALL PROPERTY TAX RELATED CORRESPONDENCE ALL TAX PARCEL NUMBERS ' si # as buY el: . 784i8u tru35-UO Name SbJ t ifiJ(! ) 1 U —( +U' U— U U Street_ El1J,,,t:AL DESCRIPTION OF PROPERTY SITUATED IN ❑ UNINCORPORATED COUNTY ® OR IN CITY OF fWn1;Gri Sfre't Ar3dress (if property is improved): + 1.S d1-i..c3C'.ilt_Ct c4S •„ Is this property currently: YES NO Description of tangible personal property if included in sale (furniture, Classified or designated as forest land? ❑ `� appliances, etc.) Chapter 84.33 RCW Classified as current use land (open space, farm ❑ and agricultural, or timber)? Chapter 84.34 RCW Fxempt from property tax as a nonprofit ❑ ] If exemption claimed, list WAC number and explanation. organization? Chapter 84.36 RCW Seller's Exempt Reg. No. ____————— WAC No. (Sec/Sub) l.ii:alil�o:' w.s 4•i<<si31c� �c1� Receiving special valuation as historic ❑ Q Explanation property? Chapter 84.26 RCW Ill',nicipa Property Type: 1� land only ❑ land with new building I I land with previously used building [ 1 land with mobile hontc 'Type of Document "y I I timber only I I building only Date �. i , Date of Document �ti>i � i ! i , l. )�J Principal Use: ❑ Apt. (4 + unit) U residential ❑ timber ❑ agricultural ❑ commercial/industrial Gross Sale Price $-354- 403 nn O other Personal Property (deduct) $ ® (1) NOTICE OF CONTINUANCE (RCW 84.33 or RCW 84.34) Taxable Sale Price $ Excise Tax: State $ If the new owner(s)of land that is classified or designated as current use Local $ or forest land wish to continue the classification or designation of such land,the new owner(s)must sign below.If the new owner(s)do not desire Delinquent Interest: State $ to continue such classification or designation, all compensating or addi- Local $ tional tax calculated pursuant to RCW 84.33.120 and 140 or RCW Delinquent Penalty: State $ 84.34.108 shall be due and payable by the seller or transferor at the time of sale.The county assessor must determine if the land transferred qualifies Total Due $ to continue classification or designation and must so indicate below. THERE IS A$2.00 FEE FOR PROCESSING THIS FORM IF NO TAX IS DUE Signatures do not necessarily mean the land will remain in classification or designation. If it no longer qualifies, it will be removed and the com- 9 AFFIDAVIT pensating taxes will be applied. All new owners must sign. I certify under penalty of Perjury under the lays of the state of This land ❑does ❑does not qualify for continuance. Washington that the foregoing is true and correct(See back of this form). r Date Signatur of DEPUTY ASSESSOR _ I % - Grantor/Agent/ l t - (2) NOTICE OF COMPLIANCE (Chapter 84.26 RCW) Name (print) —� ✓�` �� ,����+. If the new owner(s)of property with special valuation as historic property wish to continue this special valuation the new owner(s)must sign below. Date & Place of Signing If the new owner(s)do not desire to continue such special valuation, all additional tax calculated pursuant to Chapter 84.26 RCW, shall be due Signature gf _ / '�- and payable by the seller or transferor at the time of sale. Grantee Agent (3) OWNER( ) Name (print) S SIGNATURE --Scott "Attotastz?, ChicagG Ti Date & Place of Signing gtil" 7'1 24 , 1`;96 'Beattle Perjury: Perjury is a class C'felony which is punishable by imprisonment in a state correctional institution for a maximum term of not more than five years, or by a fine in an amount fixed by the court of not more than five thousand dollars($5,000.00),or by both imprisonment and fine (RCW 9A.20.020 (1C)). REV 84 0001a(6-16-95) (PD 3-05-97) FOR TREASURER'S USE ONLY TAXPAYER CHICAGO�IS, . REF# � • tl CHICAGO TITLE INSURANCE COMPANY EXHIBIT A Escrow No.: 482757 LEGAL DESCRIPTION The land referred to is situated in the State of Washington,County of KING as follows: ,and is described PARCEL A: LOTS 6 AND 7, BLOCK 1, SMITHER'S SIXTH ADDITION TO THE TOWN OF RENTON, ACCORDING TO THE PLAT THEREOF, RECORDED IN VOLUME 26 OF PLATS, PAGE 47, IN KING COUNTY, WASHINGTON. TOGETHER WITH THAT PORTION OF THE ALLEY ADJACENT TO SAID LOT 6 VACATED BY CITY OF RENTON ORDINANCE NUMBER 2779, WHICH ATTACHED BY OPERATION OF LAW. PARCEL B: LOT 2 THROUGH 5, INCLUSIVE, BLOCK 1, MOTOR LINE ADDITION TO RENTON, ACCORDING TO THE PLAT THEREOF, RECORDED IN VOLUME 9 OF PLATS, PAGE 50, IN KING COUNTY, WASHINGTON. REV 84 0001A instr(6-16-95) (PD 3-05-97) _M ■ D T1d Set. 11-17 10-'l 1 _41;�34 Dt Aug I -17 $VOOO Kat-herina P, Sartori Jennie Urtori Rrsilia U.' Sbafboroll aind aura a Ukorl ,. a municipal. corp of" tha at of to City of Hanton wa.chington fu CY Wid v6ac '% 0 $p V18 folp, re 'tat At r"et of Iona in the VMJ (,f -L-'Iq M?1, of eac, 17 tp 23 .*jtr,41. mordptclv des and bndd an role -F,4; wit '04 at tL P. A the V bdry lit. of the NJ of the of ad gou 17 ad pt Wng 78':.331 ft 8 of Lie 9W cor of id 33 and 60 ft 8 of the pt where ed T bdr,, line intartlects the 31Y marg.16nall llze of th* co ru ad; rg th '11" at rt any' to to ad T bdry 11ne a diet of 1330.131 ft ,-Io as pt on the NIj bdry litLa of a tt of !%nd owaad by thea Soattla Car & ;,oundry Comqany' th J., u SWI) diraeYn ajo-,jg ad fty bdry lineWoh line is illi to a�nd 100 ft Wly of the Wly _bdry line Of t,4-a right of way Of the Columbia & Puget Found Hail-akir Company (Newcastao Branch) a diet of 53k.25 ft to the hTly bdry line of the right of way of Garcia. UtAr VWf district go 21 th in a My d.Lrsctr- al ad ley ling 4 diist :,f 440.80 ft to the W be1r; ILn5 of ad th 9 al ad Wry iine a dial of 233.10 Lot to the P1 of begs otg sproximately 4-1 aoras of i;ro=d 9i eboys des ti, of 3-y-old "Win- 9 all th"t P%*,tr. Qf tL P-tv&tO und unreedd pl.-t de%i#A&t*4 &S Surtorl's First add to Honton , lyi4,5 13 Ot the 18 Wgistal 11no of River sts'sat I an mtlovr upon 64 Private plattalltd in k C W ?3tig eyanes is subj 'Mo all taxas and &sets now used or 1"Jad or. ad proms , woh the grantors agree to pay TAO frantorp emoopt fit the, operation of this deed = and resor** unto thesselves the,ir� h and a' all co&l in and mder , , e, 4-aw Ad# .1th the right to xi as and remawo the ondr upon .,ha ah at rraa10 W r - or, 04. U05, for SUOL vilr9ame; and providd that the grantors shall. - 4 so -,f ad land tr the surf all damage b*ca4.oe of su hl.,y eyad are eyed to the Srtao ftr a public -by t11A accepratfoe of this deed bbY cOTtG a fat Pik!Atb* With the grantors . ti,- r h .*ad a th" it to will not use any of ad lar.do or palralt the as to or any othor use, or purp tAM that of a pub park & .sit* tor pabi.io bldge of th4l grtee and this o4vt ftu With the laitii La4r& G Sartori lei t #10 Crwl.if a- of .5.1ar in . or. Aug 13-!? by Tonna ie Sa?te, *Valli& M was�b' ' aro 9 Kathe rine V Sartori..1 , and Lau-,& G ftrtqr:� I bef G*ArvA or* C MartinolU , n p for the let Of 041-1f, roe 4t Sun Raf**l IT I 'b3F sp 'J"vial B GzbyTtentor. Wn + + 9+ VuUeTAatlon Deed f1d' Sep 11-11 10-52 11-17 .14 A. - and Sartori Broilia ;11 Sb4&lrbaro tbarina rtorl Laur& 0 sarto-rl U The Public IS #-n A^ Wiv" AAA!C"&+A +^ Uno 7niOnI in ?nv- i161oAl F,%% a Mhlie Metropolitan !11 ,3 Insur uD-•-, oiu. ,,zy By Jojhn C Kn i ghr , 3rd 7 corp al `` By C. E.1,ully, A S,ec `.rr✓ " v Co N `L Jul 31r"J5 _y t,ohn C.Knight and C0E"•'16uat, 3rd P Pray and A % ,se rsr)twly of M L E t;o the corp ! ills, Postal TsIe3raph 04b12 Co. fJ'F"i • 1°/ 3�♦ s�i .i ..l.f ! • C V o X.- r waw w to attab to %roes tie neoetse xy w1r os this v*uaher pov rt 0 WW opt' fes° the 3 Ond of GrOAM #fit to the Now 3asu10 lead, 4€' pear pole to he �d tsar each. polo, �. not &n he P707 WOn sat M-Ma lin& t o be ?OTO—d vv 4szr6st vfton p.r,pty Ks puttod 7^'' •` �` 14s Lo ftrtort (land om er) f 1 by up 7._. _ s «R�14 Ott y thess'x� ta'bir wb r o 9 rd for at 02iso p P13.0 vftgat ea3 f. 44 pil3c40 to an 3 MA V Str, t Ihsa w is i f £i Z J07 0--�W-907-OWSe.,,,.._�.:..�- �' m6rd, (mss! fro"r'� to be pd snags to droving orope VY to tic) t� I ryr ".1 11T^, 1 rlr J � x^+11 'a..' �•{ � � 1 1. d' 11.: r \ •, r• �1 }'.� y�l� f -,i -�'S.����'Iw� -�, �-f�s�M,p�/Jq'Y,,.•�,�.'� r�,' 4T'r '!'�V ��i+�i�� {, rt*=�NrIT3 1 t��,�Xt ,• ' -.Ari� i '.ty ` r s tom• r�,✓;�'f.41�w ' . U��. lltl ' •' �4J� - :-tl�.,..1 f3:�.� �{,�f„ M1"��`�C'Jv .�,,,,i}}dd.. JATr/ . •'y : ��u .l?ty,"1Mi• .`l:—trT l , .��5"`^ t "`tjJ?�wrwn'{��'1yj�Liy'SS fly Bt�Ofld )� � a, t� rld C� tO' 8S . IM, �af, ; ��' • tha � : off.•. 8 �d ��t bitixtg - f '�tE .� "' '�. y -"Y.,G'�Y:f�'yL'i"'1!4�i !•�+'Yr •.r 1s _ e ��'tv. _ ��� dl'19p 'r ., fir. 1,-c +l•,o r i , r "•,_ r 1' tlJ.. � �1^.�y �4�._1r•?��7i 5ijrC 11' '*i' ".t{r,fx;:*o.��� ' aon4ynce �1`�.,...r," ,,to '�3�iq' �rR ri'T ell r��c'• .. ��►i"- ; d ;� o�.M'nar `�xo� t Cd�psq',� $i31 �'�rr ' "dto^Dea�19` r ..,*.-� s r t•, � n:}� � _ _� •"-\JyIrl n � �'I� , Kw - � '"••"•i _j��• Gl iiYt. �a��� � t''�iii V.:�li�i:�al�.1i =� '-• r r �: >< ,� Wr'•a -_ �a1J6f �Ws-� gC19'Apr 140r:$ -:fit 8;tiav's �' !. ana • .at'� (fie 8a7 ids `��r: . .. ���,;,�.� - Tin a mail arGnoble, 4#h rson X .� ,wr zz LI '• L acv a�i.at9 `; R '.�. illpr Qoi zly T0010io Yre 13 WfI•eon, Aetstinont2 tit g03to.1 Tills raph CabiIz Qo. _ =t ite' lines (t Toli . :". `d• # t �oceo 0-f t120 pzgtyaphnzele.aagrdr . .:, ' . whoh.=fp .4 +: n wha") fp have eM.•; 'Vita t 23 X R. S a of X and Stato of Yash a2 nirhwmqo: i A� proty hritr t too''t t' :Il trees ro^.ee$ to kq tie- *ti-Of v:anred cit 1esOt 18.-l-' --y: jr ` ' b` `aet 'nee6n^ ate' nrd bry%r* .1661 S 1- - tet, to f►rf.ww i, AA a'2T4 $ol'aa to � c pd , r pez 'pole, When sit to pay :sr,�le da.-^a�as ror ia�'":r�jr .; 11 M •:~N'' I v� '..� 1. - lip K- :1L F.AQrM FNT THIS ANDE`TUR�Ede this. 13th day of February !g 6n between THE CITY OF 1TWON, hereinafter called "Grantor". and PUGET SOUND PO E'ER b LIGHT COSIPANY.a Washington Corporation.and hereinafter called"Grantee". S That in consideration of One Dollar(51.00)and ocf:e:valuable considerations. receipt of-hictt is hereby acknowledged. the grantor hereby grants and conveys to the grantee. its successors and assigns. a right of way easement for an underground electric and system. together wit- the right to construct.reconstruct.operate.inspect.maintain or remove Ge same. which shall consist o u erground conduits. cables. manholes. vaults and semi-buried or ground mounted facilities such as Pads. trans- formers and other necessary or conyepfent facilities and equipment on said right of way. over. under. upon and across the following des^_.^:bed pr�e::� !^ca:cd !n K t nq _Coun+. State of Washington:--------- portion of the Southeast 1/4 of tie Northwest 1/4 of Sectien 17, Township 23 North, Range 5 East, W.M. lying northeasterly of the Cedar River waterway and being within the area of Liberty Park, and lying between Bronson Way and Houser Way in the City of Renton. Beginning at a point of intersection of the center lines of Park Avenue and Bronson Way; (V thence 5 48°15'15" W. 75.52 feet along the center line of Bronson Way to a point known _ r— as Engr. Sta. 0+00, established by the City of Renton for the relocation of 8" C.I. water main and telephone cable, and the true point of beginning of a base line that extends S 50' 13'00" E. for a distance of 720 feet, more or less, to the NWly margin of Houser Way, from M which line reference shall be made to denote a right of way described as a strip of land 5 feet in width, being 22 feet on each side of a center line described as follows: Begin- 1 ning at a point along the Ely margin of Bronson Way and said point being 5 feet southerly of and at right angles to the above described base line; thence southeasterly parallel with said base line to Sta. 2+75; thence southwesterly to a point measuring 33 feet at right 7 angles from Sta. 2+75; thence southeasterly to a point measuring 45.5 feet at right angles from Sta. 3+02; thence continuing southeasterly to a point measuring 50.5 feet at right I angles from Sta. 4+00; thence continuing southeasterly to a point measuring 53.0 feet from Sta. 4+85; thence continuing southeasterly to a point measuring 52.0 feet at right angles from Sta. 6+06; thence continuing southeasterly to a point treasuring 52.0 feet at right anoies from Sta. 6+60; thence continuing southeasterly to the northwesterly margin of Houser Way and the end of said right of way center line; i ALSO, a 5 foot strip of land described as follows: Beginning at a point along the easterly margin of Bronson Way and said point being 5 feet ! woutherly of said base line and extending northeasterly parallel and adjacent to the easterly margin of Bronson Way for a distance of 85 feet. 2 sheets , I MAR 6- 1968 ; 3� i i l 1 1 Said right of way Is described as a strip of land feet in width, being feet on each side of a certer line de- s' ibed e- scibed as follows: i fV t` �O C,) Grantee ,halt have the right of access across the adjacent land of the Grantor. as well as the right to construct, ope maintain the n�_cessary vaults and manholes,adjoining said right of way. A' except/sidewalks Grantor for himself, his heirs, executors. administrators, successors and assigns convenants that no structuW will be erected or permittd within said right of way that would interfere with or endanger the unrestricted exercise of the rights and privileges herein granted; that no digging, tunneling or other form of construction activity will be done or permitted within said right of way which will disturb the compaction or unearth the lines or equipment thereon. or in any other way remove, threaten or endanger the lateral support to said right of way or facilities located therein; that no blasting will be permitted within (15) feet of the right of way. and that no coth — conrete, tar or or permanent surfacing shall be installed or pe�tep,,Over r :thin one foot or the sides of any vault or manhole installed on said property. --''IIYY.. ��h}.�fieCt to Cit V a�prova ,� Grintez shall have Qfe ngh^to remove ay trbe5 or pars o[ trees or other vegetation or natural obstructions within said right of way, arxi may level, grade and regrade said right o: way as may appear to grantee to be necessary for the construction, operation and maintenance of said facilities. All conduit or cable laid under this grant shall be buried to such tiepin is not to interfere with the ordinary landscaping of said !� right of way. provided however. that no trees. shrubs. or busres shall be planted thereon without first having obtained written approval from the grantee. a _ IN ITNE S WHER F/thlssfrument has been executed the day and ar irs ,�Qvc w I t•• C 'I F�T�E SbUND P�Sff AND LIGHT COMPANY GIS' --�' . 'h. Custer� t ayor �] ) ./irhei. i �/). e mie W. Ne.LSon, City Cierk STATE OF WASHINGTON ss COUNTY OF K,--e' ) On this day persoonnally appeared before me D.W. Custer, Mayor Helmie lY. Nelson, City Clerk to me known to be the in ividual S described in and who executeda wh m a foregoing instrument,a ac now g at signed the same as eJv liee and voluntary act deed for the uses and purposes therein mentior•wt GIVEN oder my and and offi seal this �,J day o[ /,L LGA– residing at Aix l�rs .� cry eumic in and for uie State of Washington7 Z— STATE OF WASHINGTON t COUNTY OF ( ss On this day or_ ]g_, before me, the undersigned, personally appeared and to me known to be the President and Secretary,respectively,of the rat! that executed oopthe foregoing nstrument, an acknowledged g e said instrunenttoatie ree� .-. vo untary act an f ration, for the uses and purposes therein mentioned•and on oath stated that authorized to execute the said instrument and that the seal attired is the corporate seal of said corporation. Witness my hand and official seal hereto affixed the day and year first above written. residing at Notary Public m and for the gate of WO ngton, LIAR 6- IL9681 i ORIGINAL PUGET EASEAIE\'T FOR UNDERGROUND ELECTRIC SYSTEM POMER For and in consideration of One Dollar ($1.00) and other valuable consideration, the receipt of which is hereby acknowledged, THE. CITY OF RENTON, a municipal. corporation . I'•Granlnr'• herein).grants,canvo•ys and warrants In PI IGF,T SOUND POWER A 1,1111 IT COMPANY.it 14;rshingtun rant. lamtion I"Granure-'hervinl.(or till-purnawi,lwtrnrnitet mil Ruth a prrpr•h;al ova.wn rel under.across and over the•10- lowing described recd prepe•rtw(thee 'Proper))"hewin) . King _ .__.__ Countw.%Vashing6an That portion of the Southeast quarter of the Northwest quarter of Section 17, Township 23 North, Range 5 East, W.m., lying Northeasterly of the Cedar River Waterway and being within the area of Liberty Park and lying between Bronson Way and Houser Way in the City of Renton. ^ECORD AT REQUEST OF: Ic? PUGL'i r rAVER 04 REALF:STAT=DEPARTMENT C P.O.B:i::71'34 e� BELLEVUE•WASHINGTON 98009.9734 O Except ns may lm otherwise set forth heron Grantee's rights shall be umucisrd upon that purtmn of the.Property(Ihc"Right. of i1'av'herein)describer(as follows: A Right-of-%Pay Te �10)�_fe.ey in width hawing._F_1.v_e_t,51__•__•_ feci of such%width on each side nf a rcntrr- line described as follows: SEE ATTACHED EXHIBIT "A" fit] F' EiE. F nr-, e_t.t-.HS :0 co O c5 EXCISE TAX NOT REQUiREC =' M °`J_ Deputy ` >. a; c r _ 1. Purpose.Granter shall have the right o rnnstruct.ope•raty.maintain.repair.trpl;are•and enlarge an ui daifrounA electric y iransmtssinn and/or distribution syurm upon and nnrle•r ihrItighr•o(•1Ca' twethcr with all n-ccssar}�rrr(mc sivni ap. K nnrr•nances Therefor.which may inchale-but are-run Innow;w the followine unde-rground conduits,eahrrs.c ommunirahnn lines:vaults.manholes.switches.and transformers:and semi-hurird(it ground mrnmted facihtre•s.Following the inueal con• stnlrtion of its famliue•s.Gr:nu4,may from time-to lime oinstrurt such addrtumal faribtn•s a%It maw require. Z Access.Crant-t-shall have-The,right of are:ass in the Right-o:-lCa}ower and across the-Prolee•rty ue enable Granter to e•xer eine•its rights hereunder.provided ihat t r.uuer shall uempensatr Grantor for am damage•w th.-Property ratiu•d by the rser- eise•of said right of access J. Obstructions;Landawping.Crant—mat Irnm eine he lime remove•(roes,hushes•fir whrr ohstntctinns within the Right• oLU'ay and may level and grade du•kight•nf•11:q to Elie•extent reasonahl% nece•ssan to earn nut Ihr lmrpoes set forth in paragraph 7 hereof,provided that fallowing any such%cork.Cranu•r•shall.to ihr extent reavnahly practicable•.restore the Right-of-Tay ur the condition it was immediaa•h prior to such work Following the installation of Granter's underground facilities.Grantor may undertake am ordinarp impruwrm.•nis u.the landscaping of tit,-Righl•uf•%Vay.prnvidmi that no trees for other plants shall IN-plaretf Ihrrron%which%cured hr unreasonably expensive or impractical for Gramma to ramie-and restore. 4. Grantor's Use of Right-of-Meow.Granlnr n•sen-es the right to use,the-Right•n6ACay for any purpose not inconsistent with the rights herein granted.pro ideil that Grantrr shall nal construct for maintain arty buildingor a:her structure nn the Right- of•1Yav which would interfere with Ihc•exercise of the rights herein granted:that nn digeing.tunneling or other form of con• stnertinn arui•itw shall I,,-done on the Properlw which would disturb the enmtraction or unuuth Grantee's facilities on the Right-of-Way.or endanger the lateral support to said facilities:and that no blasting shall he done within 15 Leet of the Hight-ui- 1Pay. s. indemnity.By accepting and recording this easement,Grantee agrees to indemnify and hold harmless Grantor from any and all claims for injuries and/or damages suffered by any person which may be caused by the Grantee's exercise of the rights here;n granted:provided,that Grantee shall not be responsiblu to Grantor for any injuries and/or damages to any person caused by acts or omissions of Grantor. 6. Abandonment.The rights herein granted shall continue until such lime as Granlce ceases in use the Right-ofAVav fnr a period of five,j5)successive years.in which event this easement shall terminate and all righis hereunder shall avert le,Gran• Mr.prrn•ided that no abandonment shall by deemed to have occurred by reason of Granter's failure to initially install its facilities on the Right-n6%Pay within any period of time frnm the date hereof. 7. Successors and Assigns.The rights and obligations of the parties shall intro to the henefft of and be binding upon their respective successors and assigns. R-2301/R-2314 8601773 - 8604696 235-66 K.1-4C001 V DATED this 19 day of G..R��AN'TTOO�R��yy �+..F.w.� n —"n t r l A l rArpnrA!jan IL BY:� t r or ATTEST: -�21i�,• �)t�-C/�4 �o•i 9-E� City Clerk STATE or kASHI&TX ) as. ct taY OF k;A, ) On this day of 19 88, before ire the u ndersi , a notary public In and for tate o was gtnn,dul csxmds- sioned and sworn, personally appeared ,Car I (li t n,P cvr�t mn x i nr to ire kwon to be the THE CITY OF RENTON J E. �—t municipal corporation that e�cuteB the oregoing instrument and acknowledged the Sam m be the free and Voluntary act and deed of said municipal corporation, for the uses and purposes therein mentioned, and.on oath stated that=� ss-n rer ,r.4 authorized to execute the said instrnmpnt. — C1 _ 0 WITNESS my hand and official seal hereto affixed the day and year in this certificate above written. .,`. :7 .•'`�;;-,'�#1� Notzry c 'n am I for the State o o F'ti'm. washin , residing at MY COMMISSION EXPIRES �w Assistant City A rney __ _ � Iev **ago, *4000: R-2301/R-1314 Page 1 of 2 8601773/8604696 city,of Rrr ton E X H I B I T "A" A strip of land ten (10) feet in width lying five (5) feet on each side of :he following described centerline, said strip being situated in Section 17, Township 23 North, Range 5 East, W.M., King County, Washington, more particularly described as follows: Commencing at the intersection of the centerline of Bronson Way North, said Right-of-Way being 70 feet in width, and the Northeasterly line of Commercial Water Way No. 2 (Cedar River); Thence South 50'13'00" East along said Northeasterly line a distance of 209.53 feet to a lead and tack monument said point also being a point of curvature; Thence continuing South 50'13'00" East a tangent distance of 90.47 feet; Thence South 76'37'15" West a distance of 40.3 feet; r Thence South 41'19'40" West a distance of 7.5 feet to the True Point of Beginning; CD Thence North 41'19140" East a distance of 26.3 feet; O rl Thence North 05'37'34" East a distance of 5.6 feet; O Thence North 40'40137" West a distance of 12.6 feet; Thence North 13'58'59" East a distance of 15.6 feet; Thence North 04'49158" West a distance of 45.2 feet; Thence North 38'41'26" West a distance of 178.0 feet and the terminus of this centerline description. The side lines of said 10 foot easement are to be extended or shortened to meet at angle points and to terminate 5 feet Southerly of the existing South 5' x 5' power vault and 5 feet northerly of the existing North 5' x 5' power vault. I R-.2302 . Page 2 of 2 - Exhibit "A" Cont'd = i S 5'XY POWER VAULT LIBERTY PARK z (Tw[�GRaNO CABLE ` �iAB'POWER VAULT d1 J EASTERLYLP+E \\\ (COuuG CRAL WATERWAY)\ S so 13'4-0' I) POWLP VAULT OOH f� CEDAR RIVER LIBRARY CITY OF ItENTO>\ O A 11'1'AT+'N•I' OI• PVTILTC WORKS EXHIBIT MAP FOR PUGCT POWER ms"mP AJ" pAq JUNE. 1999 hs w•R M•»w AAI e-SL•In D'M lGVC RA Soo ....- ...ro.+P COMPLETE APPRAISAL OF REAL PROPERTY Adams, Picini & La Joy Properties 215 - 233 Burnett Avenue South Renton, King County, Washington As of: .July 3, 1997 Prepared for: City of Renton Planning/Building/Public Works Department 200 Mill Avenue South Renton, Washington Prepared by: Cushman & Wakefield of Washington, Inc. Valuation Advisory Services 700 Fifth Avenue, Suite 2700 Seattle, Washington wa .I VALUATION ADVISORY SERVICES July 8, 1997 Mr. Gregg Zimmerman Administrator Planning/Building/Public Works Department City of Renton 200 Mill Avenue South Renton, Washington 98055 Re: Complete Appraisal of Real Property Adams, Picini & La Joy Properties 215 - 233 Burnett Avenue South Renton, King County, Washington C&W Reference No. 97-33001-9158 Dear Mr. Zimmerman: In fulfillment of our agreement as outlined in the Letter of Engagement, Cushman & Wakefield of Washington is pleased to transmit our appraisal report estimating the market value of the fee simple estates in the subject properties. As specified in the Letter of Engagement, the value opinion reported below is qualified by certain assumptions, limiting conditions, certifications and definitions, which are set forth in the report. This report is intended to conform to the Uniform Standards of Professional Appraisal Practice as promulgated by the Appraisal Standards Board of the Appraisal Foundation and the City of Renton's appraisal report guidelines. The subject properties include three adjacent parcels bounded to the west by Logan Avenue South and to the east by Burnett Avenue South in Renton, King County, Washington. The two west parcels front Logan Avenue South and each measure 5,000 square feet. They are both paved for surface parking previously associated with the adjacent and now closed Sound Mazda facility. No cars were parked on either lot at the time of our inspection. The third property fronts Burnett Avenue South and includes two lots measuring 12,959 square feet in total. The north lot is improved with a 2,200-square foot home built in 1908 in fair condition. This report was prepared for the Client and is intended only for the specified use of the Client and shareholders. It may not be distributed to or relied upon by other persons or entities without written permission of the Appraiser. The property was inspected by and the report was prepared by Valerie A. Foster, MAI, under the supervision of Kenneth A. Barnes, MAI. w►V�cE�E�_Do VALUATION ADASORYSERVICFS Mr. Gregg Zimmerman Page 2 July 8, 1997 As a result of our analysis, we have formed an opinion that the market value of the fee simple estate in the northwest 5,000-square foot parcel, known as the Adams Parcel, subject to the assumptions, limiting conditions, certifications and definitions, as of July 3, 1997, is: FIFTY THOUSAND DOLLARS $50,000 As a result of our analysis, we have formed an opinion that the market value of the fee simple estate in the southwest 5,000-square foot parcel, known as the Picini Parcel, subject to the assumptions, limiting conditions, certifications and definitions, as of July 3, 1997, is: FIFTY THOUSAND DOLLARS $50,000 As a result of our analysis, we have formed an opinion that the market value of the fee simple estate in the east 12,959 square foot parcel and 2,200-square foot house, known as the La Joy Property, subject to the assumptions, limiting conditions, certifications and definitions, as of July 3, 1997, is: ONE HUNDRED NINETY THOUSAND DOLLARS $190,000 This letter is invalid as an opinion of value if detached from the report, which contains the text, exhibits and an Addenda. The marketing period is estimated to be less than 12 months. Respectfully submitted, Cushman &Wakefield of Washington, Inc. V/Oipp r, MAI S , Valuation Advisory Services State Certified Appraiser No. FOSTEVA31OBD Kenneth A. Barnes, MAI Director, Manager, Valuation Advisory Services State Certified Appraiser No. BARNEKA40203 VF:bs u�L.© VALUATION ADVISORY SERVICES SUMMARY OF SALIENT FACTS AND CONCLUSIONS Property Name: Adams, Picini, & La Joy Parcels Location: 215 - 233 Burnett Avenue South Renton, King County, Washington General Overview: Please refer to the map on the following page. The Adams parcel is the southwest site fronting Logan Avenue South, measuring 5,000 square feet, and improved with a vacant surface parking lot. The Picini parcel is adjacent to the north of the Adams parcel, also measuring 5,000 square feet, and also improved with a vacant surface parking lot. Adjacent to the east is the La Joy property, which includes a 12,959-square foot site and a 2,200- square foot home built in 1908. The home is in fair condition, and is occupied between two and six months of the year by the owners. Deferred maintenance is present throughout, including damage from persistent roof leaks along the south side of the building, and water damage to interior walls on the main level. Assessor's Parcel Number: 569600-0075; -0080; 0105 Interest Appraised: Fee simple Date of Value: As Is: July 3, 1997 Date of Inspection: July 3, 1997 Ownership: John and Emily Adams; Elizabeth Picini; Mary Jane La Joy Land Area: 5,000 square feet; 5,000 square feet; 12,959 square feet. Zoning: CD. Highest and Best Use If Vacant: Assemble the three parcels into a single development site. Interim hold pending market conditions supporting multi-family development. As Improved: Assemble at least the west vacant parcels into a single development site, and possibly assemble all three parcels. Interim renovation of existing home for use as a commercial building or residence. ••••�+u1Ae111$� 97-9158 %IFWa�cEF1ELD© VALUATION ADVISORY SERVICES Summary of Salient Facts and Conclusions Redevelop site area with a multi-family project at which time market supports such development. Improvements Type: Vacant surface parking; single family residence Year Built: 1908 (SFR) Type of Construction: Wood materials (SFR) Size: 2,200 square feet (SFR) Value Indicators Total Per SF Land Value Adams Parcel: $50,000 $10.00 Picini Parcel: $50,000 $10.00 La Joy Parcel (south 6,506 SF): $65,000 $9.99 La Joy Parcel (north 6,453 SF): $65,000 $10.07 Sales Comparison Approach (reflecting the cost of curing physical deferred maintenance): La Joy Property-As Is: $200,000 $65,000-south lot $135,000-house and north lot Income Capitalization Approach—Direct Capitalization Market Rent: Home as Retail/Office: $7.50 per square foot, per year, triple net - main level $4.50 per square foot, per year, triple net - second level Stabilized Vacancy Rate: 5 percent Net Operating Income: $12,112 Overall Rate: 10 percent Value Conclusion: $120,000 Per Square Foot: $54.55 Value of South Lot: $65,000 Total Property Value: $185,000 Less Deferred Maintenance (physical $27,000 and functional): La Joy Property-As Is Value: $160,000 Value Conclusion: Adams Parcel: $50,000 Picini Parcel: $50,000 La Joy Property-As Is: $190,000 ($65,000 south lot; $125,000 north lot and house) Estimated Marketing Time: Under 12 months 0M In 97-9158 WAKEAELD© VALUATION ADVISORY SERVICES Summary of Salient Facts and Conclusions Typical Buyer: Home and adjacent lot could be purchased by a local business owner as a location for their business, a resident for an interim home, or by a local investor speculating on the pace of the downtown Renton revitalization. In addition, the La Joy parcel could be purchased in conjunction with the Adams and Picini parcels by a speculator intending to later sell for multi-family development. The Adams and Picini parcels would most likely be purchased by a local land speculator. Special Risk Factors: Special risk factors associated with this property were taken into consideration in our appraisal. • None. Special Assumptions and Limiting Conditions: 1. The Americans With Disabilities Act (ADA) became effective January 26, 1992. Notwithstanding any discussion of possible readily achievable barrier removal construction items in this report, we have not made a specific compliance survey and analysis of this property to determine whether or not it is in conformity with the various detailed requirements of the ADA. It is possible that a compliance survey of the property together with a detailed analysis of the requirements of the ADA could reveal the property is not in compliance with one or more of the requirements of the Act. If so, this fact could have a negative effect upon the value of the property. Since we have no direct evidence relating to this issue, we did not consider possible non-compliance with the requirements of ADA in estimating the value of the property. 2. Please refer to the complete list of General Assumptions and Limiting Conditions included at the end of this report. 8 97-9158 WAKEFIELD® VALUADON ADVISORY SERVICES r SUBJECT PHOTOGRAPHS Looking southeast at the La Joy single family residence fronting Burnett Avenue South. Additional site area owned by the La Joy's is adjacent to the south. lmoo fK .A.Y s s s Storage shed/garage associated with the La Joy residence. 97-9158 AVKE ELD® +� VALUATION.ADVISORY SERVICES Subject Photographs Alt, ll t, yc Back yard of the La Joy residence. 1 Unfinished basement with exterior access. 97-9158 WaELD© dw VALUATION ADVISORY SERVICES M Subject Photographs ss• ar r M W q` '- Living room at front of home. To the left is the front door leading on to the porch. At the right is the fireplace and French doors leading into the dining room 44 00 a View of the kitchen. Through the door is the dining room, with the living room in the background. The kitchen is large with an open design. 97-9158 W �o VALUATION ADVISORY SERVICES i Subject Photographs .r 63 Peeling paint and ceiling damage in the kitchen. This damage was reportedly caused by a long exposure to steam. A}i Ceiling damage in the southwest bedroom on the upper level. This was caused by a roof leak that reportedly started in the 1996/1997 winter The roof requires replacement and the walls and ceiling require repair 97-9158 8 W Do .. VALUATION ADVISORY SERVICES Subject Photographs x• • Three quarter bath on the second level. do 10 .. 97-9158 W D© do VALUATION ADVISORY SERVICES Subject Photographs One of the two bedrooms currently in use. This room is at the northeast corner of the second level. err .. . Looking south along Burnett Avenue South from the La Joy property. 97-9158 w►V� �Do AL(VION ADVISORY SERVICES Subject Photographs rr 110, r t rr View of the additional site area adjacent to the south of the La Joy home. s a 'f i Looking north along Burnett Avenue South from the La Joy property. The clock marks a transit hub. 97-9158 w► ELD© VALUATION ADVISORY SERVICES Subject Photographs w i > .. Looking south at the intersection of South Second Street and Burnett Avenue South This is the entrance to the Transit Center. The La Joy property may be seen at the right of the photograph. i • L 4 y♦ � ` 1 Oft m h r do Looking northeast at the Adams and Picini properties. They are adjacent and are vacant paved parking lots. The vacant Sound Mazda building may be seen adjacent to the south of the Adams parcel. 97-9158 w► ELD© 4w VALUATION ADVISORY SERVICES Subject Photographs WY Looking north along Logan Avenue South The edge of the Picini parcel may be seen at the right, with a used car dealership to the north. A tire store is found on the opposite side of the street. Looking south along Logan Avenue South. The vacant site at the right of the photo may be developed with multi-family housing, while the Sound Mazda building and parking to the south will become a city park. .. 97-9158 wa�cECV�ELD© VAWA11ON ADVISORY SERVICES an TABLE OF CONTENTS An Page INTRODUCTION '" Identification of Property Property Ownership and Recent History....................................................................................1 Purpose and Intended Use of the Appraisal...............................................................................1 Date of Value and Property Inspection.......................................................................................1 Scopeof the Appraisal...............................................................................................................1 PropertyRights Appraised .........................................................................................................1 Definitions of Value and Interest Appraised ....................... 1 ........................................................ LegalDescription........................................................................................................................2 .. AREA ANALYSIS .......................................................................................................................3 NEIGHBORHOODANALYSIS..................................................................................................14 PROPERTY DESCRIPTION SiteDescription........................................................................................................................17 ,. Improvements Description .......................................................................................................18 REAL PROPERTY TAXES AND ASSESSMENTS...................................................................23 ZONING HIGHESTAND BEST USE.......................................................................................................25 VALUATIONPROCESS...........................................................................................................27 do SALES COMPARISON APPROACH - SITE VALUATION.........................................................28 SALES COMPARISON APPROACH - BUILDING VALUATION...............................................32 INCOME CAPITALIZATION APPROACH.................................................................................37 RECONCILIATION AND FINAL VALUE ESTIMATE.................................................................41 GENERAL ASSUMPTIONS AND LIMITING CONDITIONS......................................................43 CERTIFICATION OF APPRAISAL............................................................................................45 dWADDENDA................................................................................................................................46 i 97-9158 AKEFIELD, "' VAI EATJ AD%IS(W SERVICES INTRODUCTION Identification of Property The subject property is segregated into three ownerships. The Adams parcel measures 5,000 square feet and fronts Logan Avenue adjacent to the north of the vacant Sound Mazda building. The Picini property is adjacent to the north of the Adams parcel, and also measures 5,000 square feet. Both parcels are improved with older surface parking lots no longer in use. The third property is adjacent to the east of the Adams and Picini properties, and is owned by the La Joy's. This property includes a 12,959-square foot site comprised of two lots under a single parcel number. The north lot, measuring 6,453 square feet, is improved with a 2,200- square foot single family residence completed in 1908 and in fair condition. The residence is occupied by the owners between two and six months a year. All parcels have a Burnett Avenue South address. According to the King County Assessors records, the Adams and Picini parcels are both at 233 Burnett Avenue South, while the La Joy property is at 215 Burnett Avenue South. All parcels are in Renton, King County, Washington. The King County Assessor's Office identifies the subject properties by tax account numbers 569600-0075; 0080; and 0105. Property Ownership and Recent History The subject properties are respectively owned by John and Emily Adams, Elizabeth Picini, and Mary Jane La Joy. None of the subject properties have transferred in the past three years. We are aware that the City of Renton wishes to acquire the properties for expansion of the Transit Center, and are unaware of any other current offers to purchase or sell the properties. The City of Renton has not yet made a formal offer, and the appraised values provided herein will be part of the information utilized in determining a potential purchase price. Purpose and Intended Use of the Appraisal The purpose of this appraisal is to estimate the market value of the fee simple interest of the subject property. The intended use of this appraisal is to assist the client in evaluating the subject property for potential acquisition. Scope of the Appraisal The scope of the appraisal is to inspect the property, consider market characteristics and trends, collect and analyze pertinent data, and develop a conclusion about the property's market value. Date of Value and Property Inspection The effective date of the as is market value is July 3, 1997, the date of the primary property inspection. The property is stabilized on the effective date of appraisal. Property Rights Appraised The property rights appraised consist of the fee simple interest. Definitions of Value and Interest Appraised Definition of Market Value was taken from the Second Edition of the Dictionary of Real Estate Appraisal, published by the American Institute of Real Estate Appraisers. 97-9158 WAMIELM VALUATION ADVISORY SERVICES Introduction Market Value ® "Market Value" is defined as the most probable price which a property should bring in a competitive and open market under all conditions requisite to a fair sale, the buyer and seller, ' each acting prudently and knowledgeably and assuming the price is not affected by undue stimulus. Implicit in this definition is the consummation of a sale as of a specified date and the passing of title from seller to buyer under conditions whereby: ' • Buyer and seller are typically motivated. • Both parties are well informed or well advised, and acting in what they consider their own best 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. • 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. ® Fee Simple Interest Absolute ownership unencumbered by any other interest or estate; subject only to the four powers of government. I .. Legal Description The subject is legally described as follows: s Adams Parcel: "Lot 6, Block 2, Motor Line Addition to Renton, according to the plat thereof recorded in Volume 9 of Plats, page 50, in King County, Washington." Picini Parcel: "Lot 7, Block 2, Motor Line Addition to Renton, according to the plat thereof recorded in i„ Volume 9 of Plats, page 50, in King County, Washington." La Joy Parcel: "Lots 12 and 13, Block 2, Motor Line Addition to the City of Renton, according to the plat thereof recorded in Volume 9 of Plats, page 50, in King County, Washington; EXCEPT the easterly 6 feet thereof conveyed to the City of Renton by deed recorded under Recording Number 910201. 97-9158 - 2 - W�`D® VALUATION ADVISORY SERVICES AREA ANALYSIS Central Puget Sound Area The subject property is in Renton. The City of Renton is in the central portion of the Central Puget Sound area of the State of Washington. The Puget Sound region is the central financial and distribution core for the Pacific Northwest, as well as the largest population center. The major share of patrons for the subject property are to be drawn from the Central Puget Sound area, and the economic health of the overall region will have a direct impact on the subject property. A Perspective The Central Puget Sound area consists of an approximately 100-mile long strip of land, varying in width from 30 to 50 miles with the Puget Sound to the west and the Cascade Mountain Range to the east. This area includes four PMSAs and MSAs as designated by the U.S. Census Bureau. They are Seattle-Bellevue-Everett, Tacoma, Olympia and Bremerton. The chart below summarizes the counties and major cities in each PMSA/MSA. The Seattle-Tacoma-Bremerton CMSA includes all four PMSAs. PUGET SOUND PMSAs and MSAs NAME COUNTIES MAJOR CITIES Seattle/Bellevue/Everett King/Snohomish/Island Seattle, Bellevue, Everett Tacoma Pierce Tacoma Olympia Thurston Olympia, Lacey Bremerton Kitsap Bremerton In the last five years, population growth has shifted away from the core Seattle/Bellevue/Everett area into the formerly rural areas of Pierce, Thurston and Kitsap counties. This shift was caused by restrictive land use policies enacted in King County and to a lesser extent Snohomish County. These land use policies required a gauntlet of environmental, land use, and fiscal impact reviews. Meanwhile, the rural surrounding counties took a much more moderate approach, making development more feasible. As a result, only a fair amount of generally high-priced housing construction occurred in King and Snohomish counties; and rapid construction of moderately priced housing occurred in rural Pierce, Thurston and Kitsap counties. The population figures below bear out this occurrence. 97-9158 - 3 - WAKEFIELD© VALUATION ADVISORY SERVICES Area Analysis POPULATION TRENDS %change Proj. 1980 1985 1990 April 1,1995 1990-1995 1999 kBremerton 492,846 491,100 516,259 532,900 3.2 N/A y 1,269,898 1,356,552 1,507,305 1,613,600 7.1 1,755,064 SA 1,651,666 1,787,307 2,033,128 2,208,100 8.6 21399,124 SA 485,667 529,753 586,203 660,200 12.6 681,692 A 124,264 139,738 161,238 189,200 17.3 197,135 SA 147,152 168,709 189,731 220,600 16.3 232,453 ion 2,408,749 2,625,507 2,970,300 3,278,100 10.4 3,510,404 CMSA Washington State 4,132,353 4,415,785 4,866,692 5,429,900 11.6 5,637,869 Source: All census figures reported by the Washington State Office of Financial Management. 1999 Projections by Urban Decision Systems In absolute growth in numbers of people, the Seattle PMSA had the most new residents from 1990 to 1995, with 174,972; Tacoma was second with 73,997; and Bremerton was third with 30,869 additional people. Demographics The Seattle region currently ranks as the 13th largest market in the U.S. The region enjoys a diverse economic base, which transformed the area from a "blue collar" orientation centered on manufacturing, natural resources, and the military to a "white collar" technology and science orientation. Although the list of major employers belies this trend, many of the Boeing jobs are in highly technical engineering and computer service areas. In the Seattle PMSA, 65 percent of jobs are classified as "white collar." Likewise, the Olympia PMSA contains 64 percent "white collar" jobs. The Tacoma PMSA and the Bremerton PMSA possess only 56 percent in this category jobs. The state wide ratio is nearly 60/40 white collar to blue collar. The area's average income per household in 1994 ranged from 38,105 to $44,100. The areas income growth has lagged behind the national income growth over the last three years due to Boeing layoffs, which negatively effected Seattle's economy. However, an increase in income per household of 24 percent is projected for each PMSA by 1999. The chart below summarizes the average household income by PMSA/MSA since 1990 with projected income for 1999. 97-9158 - 4 - w `D® VALUATION ADVISORY SERVICES Area Analysis AVERAGE HOUSEHOLD INCOME BY PMSA/MSA 1990-1999 1990 1994 1999 (prof.) % change Seattle $44,144 $48,720 $55,225 25.1 Tacoma 35,682 39,219 44,420 24.5 Olympia 35,816 39,066 43,831 22.4 Bremerton 37,890 41,706 43,260 24.7 Washington State 38,105 41,897 47,408 24.4 Source: Urban Decision Systems, 1995 Because of the concentration of "white collar" jobs in Seattle and Bellevue, the Seattle PMSA retains the highest average income. Tacoma and Bremerton's average income is lower due to their heavy concentration of military personnel and a large proportion of "blue collar" jobs. Olympia employs a similar proportion of "white collar" jobs to Seattle, but many are in lower paying clerical and administrative state jobs. Overall, however, the region produces incomes above national averages and in the top ten of metropolitan areas nationwide. Despite relatively high housing prices, between 59.4 and 64.4 percent of the households are owner-occupied dwellings. Statewide, 61.7 percent of homes were owner-occupied in 1994. Household size is also fairly consistent across the region ranging from 2.43 in Seattle to 2.63 in Bremerton. Transportation The Central Puget Sound region is well-served by an excellent transportation network which include freeways, railroads, buses, an international airport, two deep water port facilities, and a widely used ferry system. • There are two major interstate freeways in the region: Interstate 5 which runs north to Vancouver, B.C. and south to San Diego, and Interstate 90 which runs east to Boston. Amtrak and Greyhound/Trailways provide daily service in and out of the area. There are plans to improve and expand several major state highways including State Route 18 from Auburn to North Bend, and State Route 522 from Woodinville to Monroe. • Public transportation within the region is provided by an extensive system of buses. The buses generally run at the county level, but provide service across county lines to both Tacoma and Everett. The Regional Transit Authority ("RTA") took a regional transportation plan to the voters for the third time in November 1996. Voters approved the amended plan, which will include both light rail and an expanded busing system. • The Seattle-Tacoma International Airport is served by 30 scheduled commercial passenger airlines including 11 international carriers. In 1995, SeaTac served nearly 23 million 97-9158 - 5 - WAKEFIELD© VALUATION ADVISORY SERVICES Area Analysis passengers, a 2 million increase from 1994. Air cargo continues to increase significantly as well. The graphs following demonstrate the increase in both passenger and cargo traffic. Sea Tac Irrtematiorral Sea Tac International-Serviced Passengers 25,000,000 Domestic International 1989 13,710,455 1,530,803 20'000'0 _ 1990 14,399,529 1,840,780 v 15,000,000 ®Irnemati°nal 1991 14,759,181 1,554,108 1992 16,462,515 1,499,702 G 10,000,000 1993 17,393,111 1,407,413 5,000,000 1994 19,482,971 1,489,848 1995 21,123,132 1,667,788 0 . Source: Port of Seattle, Aviation "Co o `' CO e� � Marketing Dept. ear Sea Tac International Cargo in (Metric Tons) Sea Tac International Airport Cargo(Metric Tons) Domestic International 1989-1994 1989 173,998 52,241 1990 186,394 59,022 350,000 1991 208,810 59,411 300,000 1992 225,736 58,505 = 250,000 _ 200,000 1993 256,280 51,046 r ®Intemational 150,000 ■Domestic 1994 274,482 50,550 100,000 50,000 0 y ^7 Year • Seattle Harbor, a natural deep water harbor comprised of Elliott Bay, the Duwamish Waterway, Lake Union, Lake Washington and the connecting Lake Washington Ship Canal, is the nation's leading gateway to Asia and Alaska and is among the three busiest container ports in the United States. In 1994, the Port of Seattle increased its TEU (20-foot equivalent units) holdings to over 1.3 million-, an increase of 250 thousand from 1993. The Port of Seattle is presently coordinating two major expansions. The expansion of Terminal 5 for it's 97-9158 - 6 - w�`D© VALUA71oN ADVISORY SERVICES Area Analysis major tenant, American President Lines, is currently underway, encompassing approximately 300 acres and budgeted at approximately $300 million. In mid 1995, the Port began coordinating a second major expansion-this for Cosco on Terminal 19. At present, approximately 60 properties are being acquired, with the expansion expected to be complete by late 1999 or early 2000. Combined, the Port of Seattle and the Port of Tacoma are second in container volume on the West Coast only to Los Angeles. These expansions should enhance their already strong market position in coming years. Employment • The Seattle CMSA historically has depended upon lumber and aircraft for its economic base. Over the last five years, however, the State of Washington and the Central Puget Sound area have experienced economic diversification from increased international trade, tourism, and an influx of high-technology. • The chart below displays that services make up the largest sector of regional employment at 28 percent. Wholesale/retail trade makes up 24 percent, Government employment makes up 16 percent and manufacturing is the fourth largest sector at 15 percent. Manufacturing is third in the Seattle PMSA, reflecting the relatively high concentration of Boeing employment in the Seattle area. - -- - --- - PugetSound Area Employment -- King,Snohomish,Island&Pierce Counties Puget Sound Area Employment November 1995(Revised) K,S&I Pierce Total Manufacturing 184,800 23,500 208,300 Manufacturing Construction 65,300 12,800 78,100 Government 15%15% Construction Transportation 72,700 10,100 82,800 5% Wholesale&Retail Trade 290,500 56,700 347,200 Services Transportation 29% ��� 6% F[R.E. 74,200 12,500 86,700 F.LR E. Wholesale& Services 332,100 61,500 393,600 6% Retail Trade Government 177,000 46,600 223,600 24% The Puget Sound Economic Forecaster published by Conway Pederson Economics, Inc. projects employment growth of 2.3 percent in 1995 and 2.9 percent in 1996. The largest growth areas are expected to be wholesale/retail trade and services. Manufacturing and government are projected to show small gains. Such a projection is supported by the fact that from 1991 to 1995 the service sector increased employment by 53,000, or 19 percent across the Puget Sound Region. Likewise, the wholesale/retail sector increased employment by 22,400 or 8 percent. • The Olympia and Bremerton SMSA's are heavily concentrated with government jobs with Olympia as state capital and Bremerton the home of the U.S. Naval Shipyard. These areas are particularly vulnerable to cuts in government spending at state and federal levels. At best, the number of government jobs will not grow at the rate enjoyed in the past. 97-9158 & - 7 - wLD® VALUATION ADVISORY SERVICES Area Analysis Nonetheless, the government (federal, state, county and city) along with Boeing remain the dominant employers in the Puget Sound Region; as demonstrated by the following chart: TOP 15 EMPLOYERS OF THE PUGET SOUND REGION (1995) Company Employees The Boeing Company 83,300 U.S. Department of Defense 75,350 U.S. Army - Fort Lewis 21,800 Puget Sound Naval Shipyard and Submarine Base (Bremerton) 21,570 Washington State Government (Olympia) 21,350 University of Washington 16,700 U.S. Postal Service (King County) 10,500 City of Seattle 10,000 Microsoft 10,000 Group Health Cooperative 9,135 Nordstrom 7,875 King County Government 7,342 Seafirst Bank 7,276 U.S. Air Force - McChord Base 7,172 U.S. West Communications 6,440 • Manufacturing suffered a 27 percent net loss of employment from 1991 to 1995, equaling 60,300 jobs. Much of the loss was attributed to the elimination of 37,000 jobs by Boeing. This had a drastic effect on the area's employment, because each Boeing job was estimated to support 2.8 other jobs in the area. However, Boeing has already re-hired 13,100 new and laid off workers for newly created jobs so far in 1996. Outlook During the early 90's, the area's employment growth slowed due to Boeing layoffs, however, total Puget Sound area employment grew by 0.8 percent in 1993 and 1.4 percent in 1994. This increase was caused by steady growth in services, wholesale/retail and relatively small high-tech and bio-technology firms like Microsoft. An additional 13,300 new Boeing jobs should further bolster the area's employment growth during 1996. Please reference unemployment statistics below. 97-9158 - 8 - & w_AMFIELD® VALUATION ADVISORY SERVICES Area Analysis UNEMPLOYMENT TRENDS March March 1996 1997 Seattle-Bellevue-Everett PMSA 5.6% 3.9% Tacoma PMSA 7.0% 5.2% Washington State 7.3% 5.6% United States 5.8% 5.5% Boeing Boeing, the area's largest employer, employs 52 percent of all manufacturing workers in the Seattle PMSA. An analysis of the regional economy is not complete without an examination of the competitive position of The Boeing Company. Positive Factors for Boeing's Economic Future • Commercial airplanes and related services accounted for 77 percent of Boeing's 1994 revenues.' Boeing is the market leader in this industry, with a current market share of 69.7 percent. Boeing's competitors include McDonnell Douglas, with a 9.9 percent share, and Airbus, with a 14.8 percent share. All other 70-plus-seat jet aircraft manufacturers accounted for 5.6 percent. Boeing is expected to increased its market share over the next decade.Z • An upswing in ordering, delivery, and thus employment is projected for 1997. Orders for 1996 were 717 planes, with deliveries of 218 aircraft. The following graph shows projections of continuing increases through 1998. Production goals for 1997 are 40 planes per month by year end, up from 22.5 at January 1997, with projected of $33 billion, up from $22.7 billion for 1996. This will significantly exceed 1994 revenues of $16.8 billion. Airplane production for domestic carriers accounted for 60 percent of deliveries in 1995; however, future growth is expected from international carriers. In fact, of the 261 planes ordered in 1995, nine were for domestic customers. • A record year for Boeing's commercial aircraft business, combined with major victories in defense contracting competitions, has left Boeing scrambling for adequate personnel and facilities. McDonnell Douglas has suffered setbacks in both sectors. On December 15, 1996 Boeing and McDonnell Douglas announced a merger. Assuming approval by shareholders and government regulators, Boeing should gain significant strength in all aerospace markets, especially given its recent purchase of Rockwell. 'The Boeing Company, 1994 Annual Report. 2"Boeing plans bigger 747 to crowd rival jumbos," Steve Wilhelm, Puget Sound Business Journal, December 25, 1995. 97-9158 - 9 - AKE `D® VALUATION ADVISORY SERVICES Area Analysis BOEING'S PROJECTED AIRPLANE PRODUCTION 1992 1993 1994 1995 1996 1997 Airplanes Ordered 207 247 120 261 717 380 Airplanes Delivered 446 330 270 205 218 340 BOEING'S PROJECTED AIRPLANE PRODUCTION 800 700 600 -- 500 m ■Airplanes Ordered 400 EL '.■Airplanes Delivered 300 200 100 0 .- Years Sources: 1992-1995: The Boeing Co., 1996-1998; analysts' estimates. As of 12/22/95. • Chief rival Airbus suffered a setback by a new World Trade Organization rule prohibiting them from turning to government backers for more than 30 percent of the capital required to develop new models. Without this infusion Airbus will have to line up outside partners to fund a new jumbo jet. • Airbus, made a strategic decision to design and market the smaller 330 and 340 models. At present, these designs are not meeting with strong demand. The primary strategic advantages held by Airbus are its smaller backlog and thus shorter delivery time-frame, both factors which continue to win Airbus contacts. • Quiet engine requirements, coupled with aging fleets, will continue to propel domestic orders. It is estimated that 2,250 planes are still flying at stage II engine noise output levels, while stage III is required by the year 2000. Assuming that 30 percent of these planes are retrofitted with quieting devices, 1,600, or 400 per year, will still need to be replaced. A good percentage of these orders should go to Boeing. • Both the new 777 and the redesigned 737 have been popular with customers. Current demand is for larger planes, with an interior design providing an efficient seating plan. Both the 777 and redesigned 737 are consistent with these market requirements. Boeing recently canceled the planned 747-600X, a stretch version of the 420-seat 747-400. Boeing felt larger capacity was not as important as longer range. • The establishment of a Boeing office in Bombay, India. India's economy is rapidly growing and, as a result, the number of airlines have grown from 2 to 17. Five of those domestic airlines use 26 Boeing 737's. Over the past three years, the rate of travel growth within India has exceeded 12 percent and Boeing forecasts that India will need $18 billion of new aircraft over the next 20 years to meet demand. Boeing is well-positioned within the Indian airline market to supply these needs. 8 97-9158 - 10 - AKEFIE`D. VALUATION ADVISORY SERVICES Area Analysis • Boeing estimates that 2,000 airplanes will be at least 25 years old by 1995. These planes will have to be replaced because of increasing maintenance and fuel costs and more stringent noise regulations. Challenges for Boeing: • Uphold its industrial leadership by doing the best job of meeting customer needs. To satisfy its customers in additional benefits in terms of what it calls "one-stop shopping" for customer support--in providing spares, training and field services representatives. • To satisfy its customers needs in an increasing complex global market, by responding with products and services that deliver superior value. • To ensure customers remain enthusiastic about Boeing's airplanes and support. Conclusion Korea, Japan, Taiwan and China all have developing aerospace industries. Foreign sales account for 60 percent of Boeing's production and is likely to increase as a result of Boeing's strong presence in China and India. In order to preserve its access to foreign markets, Boeing is likely to subcontract increasingly to foreign suppliers. In the past, this has led to a drop in employment in the Seattle area. However, with the increased demand for Boeing's new planes (the 777 and 737-700), the Seattle area is expected to experience a substantial growth in Boeing jobs. International Trade Because of its proximity to both the Pacific Rim and the European economic community, the region is expected to experience continued economic growth through international trade. The dramatic economic development and trade expansion of Pacific Rim countries has had a significant impact on the Puget Sound region which supports two world-class ports, the Port of Seattle and the Port of Tacoma. The economic growth of Japan and its Pacific Rim neighbors has contributed heavily to increased trade, and trans-Pacific trade with the U.S. surpassing trans-Atlantic trade for the first time in 1985. As a result of increase total volume and shorter shipping time between Asia and the Northwest, Puget Sound ports have been able to increase their share of total U.S. trade considerably. Through its deep water ports, Puget Sound makes a major economic contribution to all four counties in the central Puget Sound region. The Port of Seattle in King County dominates the Northwest ports, currently leading the nation in container exporting. The Port of Seattle not only employs 1,200 people, it generates an additional 83,000 related jobs in King County and over 118,500 jobs state-wide. Pierce County's Port of Tacoma is growing rapidly, due in part to the attraction of four major shipping lines, Sealand, Maersk, Evergreen and K-line. However, the growth of both the Port of Tacoma and the Port of Seattle is most directly linked to the increase in Pacific Rim trade and the proximity of the ports to Asian markets. PSHWA97-9158 AKELD© VALUATION ADVISORY SERVICES Area Analysis As a result, Washington currently has the highest per capita reliance on foreign trade of any state in the nation. A total of 350,000 jobs (one in five), are related to foreign trade, with 210,000 directly related to Asian trade. Many U.S. manufacturers who use foreign imports are in the Puget Sound area, and over 20,000 jobs attributable to foreign-owned companies. As the number of foreign-owned companies is increasing, direct foreign investment in Washington will soon reach $980 million. The economies of Snohomish and Kitsap County also are inextricably linked to the Puget Sound. Kitsap County's economy is directly dependent on the Puget Sound Naval Shipyard in Bremerton, which is a service and repair facility for major naval vessels. Snohomish County employment has benefited from the recently completed Navy Home Port Project in Everett. The Home Port is used for the atomic-powered aircraft carrier USS Nimitz, along with 11 support vessels, including battleships, cruisers and supply ships. High-Tech Industries Emerging high-tech companies have played an increasing role in economic growth in the region. High-tech companies headquartered or with major presence in the Seattle area include AT&T Wireless (formerly McCaw Cellular), Microsoft, Aldus, Nintendo, John Fluke Manufacturing (test equipment), Physio Control (medical equipment), Honeywell and Sundstrand. About 800 advanced-technology companies employ about 75,000 workers in the Seattle-Tacoma area. These companies have high visibility and high revenue per employee, producing economic benefits greater than direct employment. These companies are concentrated in the Everett to Redmond corridor along Interstate 405. In the fall of 1995, Washington State officials and industry representatives successfully completed negotiations with one of the newest high-tech entrants, Intel. This developer and manufacturer of computer processors will locate in Dupont, between Olympia and Tacoma, and will employ approximately 6,000 workers. The attraction of Intel is significant for future high- tech entrants, as Washington State was willing to provide more competitive incentives in the form of various subsidiaries then was rival Oregon. With fiscal year 1995 revenues nearly $6 billion, Microsoft has ascended into position as a high-tech leader regionally, nationally and internationally. Microsoft has grown from a small concern to the world's largest producer of software for personal computers. Microsoft continues to grow with successful, innovative operating systems and applications software. It is easy to overestimate the impact of this sector due to its high visibility and high output per worker, but the "computer and data processing" subcategory (part of business services) accounts for only 18,000 jobs in the PMSA, or 1.54 percent of total jobs in the Seattle PMSA. Biotechnology Washington's growth in biotechnology continues. A 1995 survey by Washington Biotechnology Foundation estimates current employment at 9,500, with 1,000 new jobs expected by 1999. These are high-education, high-pay jobs with an average salary of $43,000. Job growth over the next decade is projected at 7 percent annually. This small but high-growth sector should continue to provide spin-off benefits for the region. 97-9158 - 12 - wVVFIEML6© VALUATION ADVISORY SERVICES Area Analysis Conclusion Seattle is both the trade and financial capital of the Pacific Northwest and enjoys a high quality of life: The region has succeeded in sustaining continued population growth, providing a high level of government and social services, and diversifying its economy with the introduction of new industries-particularly high-technology. Technology-based companies including Microsoft, Advanced Technology Labs, Space Labs Medical, Nintendo and Intel should continue to bolster the local economy in 1997 and beyond. 97-9158 - 13 - w�`D® VALUA11ON ADVISORY SERVICES ° a ar Ravenna Redmond Sunsetflll o t►iiine�11 y. 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Airfield Major Street/Road - � StateRoute Neighborhood Map —�Interstate Highway NEIGHBORHOOD ANALYSIS General Location: Downtown Renton Character: Please refer to the neighborhood map opposite. The subject's neighborhood is downtown Renton, bordered to the south and east by Interstate 405, to the north by South Airport Way, and to the west by Lind Avenue South. Boeing has a major presence in downtown Renton, using the Renton Municipal Airport shown on the map opposite, and occupying office buildings from North Sixth Street to as far south as South Seventh Street and Lind Avenue S.W. Surrounding downtown Renton is single-family and multi- family residential development. A secondary land use within the Renton Central Business District is the retail and commercial improvements serving these residents. The subject's neighborhood is the original Renton CBD, with the subject parcels located in the former automotive submarket. the City of Renton decided to create an automall along Grady Way adjacent to Interstate 405. The favorable zoning in this automall area, along with acquisition of closing dealerships for redevelopment, has led to the migration of most of these businesses to the automall area. Many automotive buildings near the subject are now closed or near closure. Moving away from the automotive core in the CBD, uses become more traditional, primarily comprised of neighborhood serving office, medical office, government buildings and retail. The area was developed between 1940 and 1970, with most buildings having one or two stories. Access The most efficient neighborhood access is provided via Interstate 405 northbound, intersecting with State Route 900/Sunset Road, leading eastbound into the Renton Central Business District. State Route 900 becomes South Second Street eastbound, and intersects with both Burnett and Logan Avenues leading directly to the subject properties. Key neighborhood influences are highlighted below: 1. A former Puget Sound Bank branch, at the corner of South Second Street and Williams Avenue South, has recently been purchased and converted to the Cedar River Microbrewery. 97-9158 -14- CNB WA(WELD® VALUATION ADVISORY SERVICES Neighborhood Analysis 2. The departing point for the Schwartz Brother's Spirit of Washington dinner train is in the historic Renton Central Business District, and has increased both traffic flow and identity to the subject's immediate area. 3. Two new congregate care projects, Spencer Court and Cedar River Court, have recently been constructed in the downtown core. 4. The City of Renton is attempting to revitalize the downtown core through zoning changes, public sector investment, and subsidies to developers pursuing desirable projects. Some of the City's efforts include the new Transit center at Second and Burnett, and ongoing efforts with Dally Homes, a developer considering a mixed use apartment project in Renton's downtown core. In addition, the City of Renton just purchased the Main and Grady building at 701 Grady Way, and will relocate their headquarters from their Mill Avenue location over the next six to twelve months. Adjacent Land Uses North: Used car dealership. East: Vacant lot (may be mixed use multi-family); tire store. West: Good Chevrolet repair shop. South: Vacant Sound Mazda building. Traffic: South Second Street is a one way right-of-way westbound, and one of the major westbound arterials through the Renton Central Business District. South Third Street is also fairly heavily traveled, and is one directional eastbound. These rights of way are north and south of the subject respectively. Burnett Avenue South is a two-lane two directional right of way, with two center rows of diagonal parking, as well as parallel parking in areas. This is a major transit street, but otherwise supports only moderate neighborhood traffic flow. Logan Avenue South is a two-- lane right-of-way southbound, with parallel parking on both sides of the street. Traffic counts are not available on Burnett Avenue in front of the subject. However, South Second Street at its intersection with Burnett supports between 9,000 and 97-9158 & - 15 - WAKEFIELD© VALUATION ADVISORY SERVICES Neighborhood Analysis 10,000 cars per day, and South Third Street at its intersection with Burnett supports 9,500 cars per day. On Logan Avenue in front if the subject, traffic counts are 2,700 per day. On South Second Street at the Logan intersection, the traffic count is between 9,000 and 10,000 cars per day. Property owners and investors in the neighborhood consider the downtown Renton traffic patterns to be somewhat undesirable as many of the streets are one directional, serving to impede traffic flow to businesses fronting these rights-of-way. Secondary rights-of-way like Burnett and Logan receive limited traffic volume, impeding their desirability. Street frontage/location has been a major consideration in our adjustments to the land sales presented later in this report. 97-9158 - 16 - w�`D© VALUATION ADVISORY SERVICES PROPERTY DESCRIPTION Site Location: 215 - 233 Burnett Avenue South Renton, King County, Washington Shape: Rectangular. Area: Adams: 5,000 SF Picini: 5,000 SF La Joy: 12,959 SF (6,506 - south lot; 6,453 - north lot). Street Frontage: The Adams and Picini parcels each have 50 lineal feet of frontage on Logan Avenue South. The La Joy parcel has 100 lineal feet of frontage on Burnett Avenue South. Street Improvements: Burnett Avenue South in the vicinity of the subject is a two lane two directional right of way fully improved with curbs, gutters, sidewalks and streetlights. The right-of-way has a center section providing diagonal parking, and parallel parking along both sides. Logan Avenue South is also a two-lane two directional right of way, fully improved with curbs, gutters, sidewalks and streetlights. Parallel parking is available on both sides of the street. Topography: All sites are generally level. Soil Conditions: We did not receive a geotechnical engineering report. We assume the soils adequately support the existing improvements, and would support an improvement consistent with the highest and best use of the site(s). We observed no evidence to the contrary during our physical inspection of the sites or neighborhood which has been improved with a variety of automotive and commercial developments. Drainage: Appears adequate. Utilities: All utilities are available to the site. Land Use Restrictions: We have been provided with a preliminary commitment for title insurance prepared by Pacific Northwest Title Company for all three properties effective June 2, 1997. These commitments are included in the Addenda. No easements or other land use restrictions were found for any of the three properties. We assume there are no 97-9158 -17- US"" d® VALUATION ADVISORY SERVICES Property Description easements or other land use restrictions associated that would have a negative effect on value. Should any such easements or land use restrictions later be found to exist, their presence may effect the value conclusion provided herein. Flood Hazard: According to FEMA Community Map Panel 53033CO977-F dated May 16, 1995, the subject site is not in a flood zone. Seismic Hazard: The site is in Earthquake Zone 3, area of moderate damage, as designated on the I.S.O. Earthquake Zone Map dated 1981. Toxic Waste: We are not aware of any toxic waste on or adjacent to the subject site; however, we are not qualified to detect such substances if they did exist. An expert should be retained if there are any questions as to the presence of toxic waste and material. The appraised value herein assumes the subject is free and clear of hazardous materials. Comments: These parcels are mid-block sites with good access from their respective fronting streets. The parcels are typical of the area with no apparent adverse conditions which would negatively impact their use. Improvements The Adams and Picini parcels are improved with older surface parking lots formerly used by the adjacent Sound Mazda facility which is now closed. There does not appear to currently be demand for surface parking in this location. As a result, we do not consider the paving to contribute significant value to the underlying sites, and do not consider surface parking to represent the highest and best use of either parcel. The south lot of the La Joy property, at 6,506 square feet, is fenced off, and improved with older and deteriorated paving. As with the parcels discussed above, surface parking is not considered the highest and best use of the site, and paving is not considered to contribute value to the underlying land. The north lot of the La Joy property, at approximately 6,453 square feet, is improved with an older fair quality single family residence described below. General Data Year Built: 1908. Building Area: 2,200 square feet above ground. Style/Design: Dutch Colonial. Exterior is white painted siding with a red roof. Main level consists of kitchen, living room, dining 97-9158 - 18 - w�`D © VALUATION ADVISORY SERVICES Property Description room, and study. Upper level offers five bedrooms and a bathroom. Construction Detail Foundation: Concrete. Floors: Wood. Exterior Walls: Horizontal wood siding painted white. Roof Structure: Wood roof. Roof Cover: Composition surface. Windows: Single paned in wood frames. Mechanical Detail Heating: Gas powered forced air system. Interior Detail Layout: The front door faces Burnett Avenue South, with the main entrance leading directly into the living room, which comprises the east third of the main level. The living room leads east to the dining room, with a den off the dining room to the north. Immediately west of the dining room is a large kitchen, which leads out the back door to the back yard, and to the exterior entrance to the small basement. Stairs from the kitchen access the second level, which is bisected by a central hallway. On the north side of the hall are four bedrooms, with the south side having two bedrooms, a linen closet, and a three-quarter bath. The layout is highly functional and appealing for single family residential use. Interior Finish: As can be seen from the subject photographs, the interior of the main level is painted primarily lime green with the kitchen walls painted orange. All areas of the main level except the kitchen have wall to wall plush carpeting, while the kitchen floor is covered with vinyl tile. The central stairway is wood, while the upper level including the bathroom is covered with wall to wall carpeting. The upper level is also painted lime green, though many rooms are wallpapered. The home has some very appealing aspects, particularly in some of the older detail work. For example, the living room 97-9158 - 19 - wD® VALUA110N ADVISORY SERVICES Property Description has stained glass built in cabinet fronts, and the upstairs bathroom has an old ceramic tub and sink. The mouldings throughout are appealing, and the staircase is wide and sturdy. The rooms are of good size, and the kitchen is larger than many modern kitchens, though not as functional. Finally, the front porch, freestanding storage shed/garage, and the basement are all considered additional desirable features. Deferred Maintenance: As can be seen from the subject photographs, the house has extensive deferred maintenance, in an amount that well exceeds what is typical for a single family residence in Renton. We segregate deferred maintenance into two categories. The first includes maintenance that would need to be performed to restore the property to structural soundness requisite for any use, residential or otherwise. The second includes both aesthetic and functional considerations that would need to be performed to make the property on par with competitive product. Physical considerations: The roof has begun to leak and cause interior damage, particularly along the south side of the second level. The subject photographs show ceiling damage due to roof leaks in an upper level bedroom. The home requires a new roof, gutters and downspouts, which we estimate would cost $8,000. In addition, the damaged wall and ceiling areas would need to be repaired, at a cost we estimate at $2,000. Finally, the exterior needs to be repainted, at a cost we estimate at $6,000. New paint is considered a structural consideration as the wood siding is exposed in areas, potentially causing dry rot and ultimate damage to the interior structure. The total cost to cure structural deferred maintenance is $16,000. The subject photographs show similar wall and ceiling damage in the kitchen, though this is reportedly not from the leaking roof. Instead, the damage was reportedly caused by heavy steam, the source of which is not known. This damage is more cosmetic and more localized, with the cost to cure estimated closer to $2,000. Functional considerations: For continued residential use, no additional work is considered to be required. However, for commercial use, an interior reconfiguration would be necessary. This reconfiguration could range anywhere from removing the carpet, refinishing the floors, and repainting the walls, to an extensive program including a complete interior 97-9158 - 20 - C+ �& WAKEE1ELD© VALUATION ADVISORY SERVICES Property Description reconfiguration. In estimating the cost to cure functional obsolescence for a commercial use, what is most relevant is what the market will bear. We estimate a typical seller would not accept a deduction of more than $5 per square foot, or $11,000, toward reconfiguration and improvement. This is the amount we deduct from our final value conclusion for the La Joy home in a commercial use. A reconfiguraion to commercial use may raise ADA considerations. At present, the subject is likely not ADA compliant due to the front stairs and narrow corridors. We have not made an allowance in our estimates for any potential costs of achieving ADA compliance. Disclaimer: Our estimates of the cost to cure both physical and functional items have been used in determining the subject's final value. However, we note that these are only estimates, and the exact cost can only be obtained through a bid from a qualified professional in each respective field. We make no warranty that our cost estimates are accurate, and make no warranty that the items discussed above represent a complete list of items of deferred maintenance items. Further, we did not perform, and are not qualified to perform, a structural inspection. Due to the age and condition of the house, it is likely that additional structural considerations exist. We have made no adjustment for such additional considerations in our analysis. Site Improvements Onsite Parking: The Adams and Picini properties combined provide parking for around 30 cars. - The La Joy lot improved with the house provides parking for one car in the garage, and another in the drive. The south La Joy lot has no designated parking spaces but is assumed to have capacity roughly equal to half the combined parking for the Adams and Picini properties. Landscaping: The Adams, Picini and south La Joy lots are not landscaped. The La Joy home is surrounded by a landscaped lawn and peripheral shrubs and trees. Along Burnett Avenue South, the City of Renton has planted trees in sidewalk planters. Comments: As will be discussed in the highest and best use section, none of the improvements represent the highest and best use of their respective sites. There is no current demand for off street surface parking in the Renton CBD core. Such parking had been necessary when auto 97-9158 - 21 - QUELd. VALUATION ADVISORY SERVICES Property Description sellers were located in the CBD. However, all major sellers have located southwest on Grady Way over the past few years, changing the highest and best use of surface parking lots to an interim hold until multi-family development becomes feasible. The La Joy home is one of the only remaining single family residences in the CBD core. It is an incompatible use with the surrounding area. Potential future uses include interim continued use as a residence until redevelopment, or conversion to retail or office. These possibilities are explored in more detail in the highest and best use section. In summary, the single family residence is of a functional design for residential use, but a single family residential use is not compatible with the immediate neighborhood. The Americans With Disabilities Act (ADA) became effective January 26, 1992. Notwithstanding any discussion of possible readily achievable barrier removal construction items in this report, we have not made a specific compliance survey and analysis of this property to determine whether or not it is in conformity with the various detailed requirements of the ADA. It is possible that a compliance survey of the property together with a detailed analysis of the requirements of the ADA could reveal the property is not in compliance with one or more of the requirements of the Act. If so, this fact could have a negative effect upon the value of the property. Since we have no direct evidence relating to this issue, we did not consider possible non-compliance with the requirements of ADA in estimating the value of the property. 97-9158 - 22 - wU�`D® VALUATION ADVISORY SERVICES REAL PROPERTY TAXES AND ASSESSMENTS The subject property is within King County, Washington and is taxed by these governing bodies as well as other smaller taxing districts. Under Washington state law, real estate is to be assessed at the fair market value. The King County Department of Assessments revalues all real estate on a one-year cycle with quadrennial inspections unless a change in status, such as new construction, a merger, a change in the legal description or market data warrants a reassessment prior to the scheduled revaluation. The subject property is currently assessed as shown on the facing page. The subject is currently assessed at below our market value conclusion. Market value assumes an arm's-length sale at our estimated value. We will use our estimate of market value to estimate real estate taxes, with this estimate only relevant to our valuation of the La Joy house, which is the only property for which an Income Approach is performed. The 1997 levy rate for the subject's levy code, 2100, is $13.87288 per $1,000 of assessed value. Assessed value, market value and estimated taxes are shown on the facing page. 97-9158 -23- WERE& VALUCON ADVISORY SERVICES ZONING The subject site is zoned CD, or Center Downtown, by the City of Renton. The purpose of the CD zone is to "provide a mixed-use commercial center serving a regional market as well as adjacent residences. Uses include a wide variety of retail sales, personal and professional services, multi-family residential dwellings, recreation and entertainment uses, and some light industrial uses. This zone is intended for the downtown district only." A summary of the regulations pertaining to this zoning classification are listed below: Required Setbacks: None until the structure exceeds 40 feet, at which time the required setback is 10 feet for each story. Height Limit: 95 feet. Maximum Lot Coverage: 65 percent; or 75 percent if parking is provided within the building. Minimum Lot Area: None Parking requirements under the CD zone are provided for multi-family, office, and retail uses. Multi-family uses require 1.5 spaces for every dwelling unit, plus one guest parking space for every four units. Office uses require three spaces for every 1,000 square feet of floor area, while retail uses require one space for every 500 square feet of floor area. The subject properties appear to comply with applicable zoning requirements as currently constructed, and we assume that they complied with all applicable zoning requirements at the time of permitting and construction. We know of no other deed restrictions, private or public, that further limit the subjects' use. We cannot guarantee that such restrictions do not exist. Deed restrictions are a legal matter and only a title examination by an attorney or title company can usually uncover such restrictive covenants. 97-9158 -24 - wa�tEV C& VALUA770N ADVISORY SERVICES HIGHEST AND BEST USE According to the Dictionary of Real Estate Appraisal, a 1993 publication of the Appraisal Institute, the highest and best use is defined as: The reasonably probable and legal use of vacant land or an improved property, which is physically possible, appropriately supported, financially feasible, and that results in the highest value. We evaluated the site's highest and best use both as vacant, and as improved. The highest and best use must meet four criteria. In both cases, the use must be (1) physically possible, (2) legally permissible, (3) financially feasible and (4) maximally productive. The first test is what is physically possible. As discussed in the Property Description section of this report, the subject parcels are small, at between 5,000 and 6,500 square feet. It is difficult to develop commercial improvements on sites this size, and a typical buyer would likely attempt to assemble all four parcels for an approximately 23,000-square foot development site. Such a site would accommodate almost all moderate scale urban uses, including office, retail, hotel, residential or industrial. Access to all parcels is direct with all utilities available. The second test concerns permitted uses. According to our understanding of the zoning ordinance discussed earlier in this report, principal permitted uses in the CD zone include a variety of office, retail, and multi-family uses. The third and fourth tests are, respectively, what is financially feasible and what will produce the highest net return. Office vacancy in the Southend remains above 10 percent, and in the CBD proper, new space will come on line as the City of Renton relocates to their new building. New office development is not considered feasible in this market at the present time, or in the near future. Retail uses are currently concentrating around Grady Way and Rainier Avenue South, where traffic patterns are more favorable for convenience shopping. There is ample land still available in these areas, particularly along Grady Way, and as a result we do not consider retail to be the current highest and best use of the subjects' CBD location. The final use encouraged in the zone is higher density multi-family. We are aware that Daly Homes is considering a parcel directly across Logan Avenue from the subject for development with over 100 apartment units. Should this project occur, we do not believe demand is present (current apartment vacancy in Renton is 6.1 percent) to support a second project on the subject site until the Daly Homes project is stabilized. However, should Daly elect not to do the project, the subject site would also be highly suitable for a multi-family use. Typically, multi-family development becomes feasible when vacancy has been at or below 5 percent for a sufficiently long period to start placing strong upward pressure on rental rates. The Renton market has vacancy well below its September 1994 peak of 9 percent, but is still not at the 5 percent level. Further, over the past five years, average rents in Renton have only grown from $550 per unit to $604 per unit, which is a compound growth rate of around 2 percent. Rents will need to be growing at a faster rate before multi-family development is considered immediately feasible. 97-9158 -25- CUSS NB WAXERELD® yALUAnON ADVISORY SERVICES Highest and Best Use Highest and Best Use -As Vacant Given market demand for various uses in the Renton CBD, we conclude the highest and best use of the parcels as if vacant is to assemble into a single ownership, and hold for development with a multi-family project. Highest and Best Use -As Improved The house on the La Joy property contributes approximately $60,000 to the value of the underlying land. We believe the highest and best use of this property as improved is its existing use, as a residence or commercial building, provided physical deferred maintenance as discussed in the Property Description section is cured. We also believe the residence is an interim use until the market improves to support a higher and better use such as multi-family development. As a result, we consider the highest and best use of this property to also be mid term assemblage with adjacent parcels for future development. Typical Buyer The typical buyer of the home would be an interim owner user, utilizing the building as either a residence or as commercial space. The typical buyer of the vacant lots would be a land speculator looking to assemble contiguous parcels. 97-9158 -26- ONE"M VALUATION ADVISORY SERVICES VALUATION PROCESS In this appraisal we have used the Sales Comparison Approach to determine land value for all three properties, and to determine the value of the La Joy house as improved. The Adams and Picini properties are vacant and not appropriately valued through the Cost or Income Approaches. The La Joy house is older, and suffers from physical depreciation. Given this, a typical purchaser would not consider replacement cost, and we have not included a Cost Approach for the home as a result. We have provided an Income Capitalization Approach for the La Joy Home based upon a commercial use. No Income Capitalization Approach for the house as a residential use has been performed. In the Sales Comparison Approach, we performed the following steps: • Searched the market for recent sales. • Analyzed those sales on the basis of the sales price per square foot. • Correlated the various value indications into a point value estimate from within the range. In developing the Income Capitalization Approach we: • Studied rents in effect in this and competing buildings to estimate potential rental income at market levels. • Estimated income from sources other than contract rents. • Studied the recent history of operating expenses at this and competing buildings to estimate an appropriate level of stabilized expenses and reserves for replacement. • Estimated net operating income by subtracting stabilized expenses from potential gross income. • Capitalized stabilized net operating income into an indication of capital value. 97-9158 -27- wAKEAELD® VALUCON ADVISORY SERVICES SALES COMPARISON APPROACH - SITE VALUATION Methodology In the Sales Comparison Approach, the appraiser estimates the value of a property by comparing it with similar, recently sold properties in the surrounding or competing area. Inherent in this approach is the principle of substitution, which holds that when a property is replaceable in the market, its value tends to be set at the cost of acquiring an equally desirable substitute property, assuming that no costly delay is encountered in making the substitution. By analyzing sales that qualify as arm's-length transactions between willing and knowledgeable buyers and sellers, we can identify market value and price trends. The sold properties must be comparable to the subject in physical, locational and economic characteristics. The basic steps of this approach are: 1. research recent, relevant property sales and current offerings throughout the competitive area; 2. select and analyze properties that are similar to the subject, giving consideration to the date of sale, any changes in economic conditions that may have occurred between the sale date and the date of value, and other physical, functional, or locational factors; 3. identify sales that include favorable financing and calculate the cash equivalent price; 4. reduce the sales price to a common unit of comparison such as price per square foot of land or building area; 5. make appropriate adjustments to the prices of the comparable properties; 6. interpret the adjusted sales data and draw a logical value conclusion. Land Sale Comparisons The most widely-used and market-oriented unit of comparison for properties such as the subject sites is the sales price per square foot of land area. All comparable sales were analyzed on this basis. The sales were arm's-length transactions transferring the fee simple interest. All sales were for cash or equivalent terms. In selecting comparisons, we considered it important to select sales of fairly small similarly zoned parcels in the Renton market. Both a summary and map of these comparisons are shown on facing pages, with additional details included in the Addenda. Land Sale No. 1 is a listing of three adjacent vacant lots on the west side of Williams Avenue South, south of South Fourth Street. The parcels have been on the market since early 1997, at $210,000, or $12.17 per square foot. The seller has received one offer, at $45,000 per lot, or $135,000, and $7.83 per square foot. This offer was declined, and the seller is now examining possibilities of developing the three lots with a multi-family project. We use the offer as our analysis price, due to the low-demand location of this property south of the CBD core, but north of the Grady Way area. Adjustments are shown following. 97-9158 -28- WA LD® VALUATION ADVISORY SERVICES Sales Comparison Approach - Site Valuation Downward Adjustments: None Upward Adjustments: Conditions of sale (offer that was not accepted); location Overall Adjustment: Upward Land Sale No. 2 is a purchase by the City of Renton of the former Sound Mazda dealership just south of the subject. Despite the proximate nature of this property, we have not relied heavily upon the transaction as the City was the purchaser. Often, in a purchase by a government entity with the power of condemnation, the price is a poor representation of market value. The definition of market value requires a "willing buyer and willing seller", and in many purchases where a government entity is making an acquisition, the seller is not "willing" and is thus paid a premium. In this case, however, Sound Mazda acquired a portion of the site for their new dealership on Grady Way as early as 1994, and had already moved by the time the City purchased this property. In total, the acquisition price was $1,000,000, which included a 39,361-square foot site and a 24,000-square foot building completed in 1948. Though the building was vacant and the city intended to demolish it in favor of a park, we believe the building was attributed value in the transaction. The value of the improvements are estimated at $500,000, which is essentially shell value at $20.83 per square foot of building. The remaining $500,000 applied to the site area indicates a price of$12.70 per square foot. We consider this site superior to the subject as it is a larger, already assembled parcel in a downtown location where most parcels are small, at between 4,000 and 10,000 square feet. Further, it has a desirable corner location fronting Burnett and South Third Street. Adjustments are shown below. Downward Adjustments: Location, size Upward Adjustments: None Overall Adjustment: Downward Land Sale No. 3 is the January 1997 sale of a 4,787-square foot parcel fronting Logan Avenue South one block north of the subject. This location is inferior to the subject's, as it is in the block north of the area of concentrated commercial development and is north of heavily traveled rights of way. However, the site is similar in size to the three subject parcels, and has the same CD zoning. Downward Adjustments: None Upward Adjustments: Location Overall Adjustment: Upward Land Sale No. 4 is a desirable site at the northeast corner of Grady and Talbot. Grady is one of the most heavily traveled rights of way in the City of Renton, and this intersection is signalized. The site remains vacant following its December 1996 purchase, but the buyer plans to develop the parcel with a Jiffy Lube and Car Wash. The purchase price was $838,442, or $12.84 per square foot. We make a downward adjustment based on this property's superior location. 97-9158 -29- AICEUS EL 6. VALUATION ADVISORY SERVICES Sales Comparison Approach - Site Valuation Downward Adjustments: Location Upward Adjustments: None Overall Adjustment: Downward Land Sale No. 5 is the Good Chevrolet site fronting Grady Way just west of Lind Avenue. This assemblage occurred between June and August 1995, and totaled 3.09 acres though the individual parcels purchased from separate sellers ranged in size from 24,000 square feet to 63,000 square feet. The combined purchase price was $2,002,016, or $14.87 per square foot. This property is one of the best located and best exposed along Grady Way, and requires a significant downward adjustment due to location. Downward Adjustments: Location Upward Adjustments: None Overall Adjustment: Downward Land Sale No. 6 is the City of Renton's purchase from five separate sellers of sites fronting Burnett, Logan, and Morris in downtown Renton. This is our oldest sale, closing in July of 1995, and represents a purchase of some of the most comparable sites in the Renton CBD to the subject. The acquisition includes the lots immediately across Logan from the Adams and Picini properties measuring 54,212 square feet, and the site immediately adjacent to the south, at the corner of Third and Logan, measuring 7,611 square feet. Daly Homes is in the early stages of coordinating a multi-family project on the north and larger parcel, which will require purchasing the land from the City of Renton. Reportedly, the City is negotiating a land price that is below the $8.77 per square foot they paid for the parcel. Other properties acquired include 13,012 square feet south of the subject on Burnett, the 2,521 square foot corner parcel at the northeast corner of Third and Logan, and 25,300 square feet on Burnett one block south of the subject. The total purchase price was $900,000, or $8.77 per square foot for all five properties. A significant component of this acquisition, the 25,300 square feet one block south of the subject, is considered to be in an inferior location to the three subject properties. We make a moderate upward adjustment to reflect the subject's superior location. Downward Adjustments: None Upward Adjustments: Location Overall Adjustment: Upward Discussion and Analysis of Comparable Sales The sales present a range of prices between $7.83 and $14.87 per square foot, a range of $7.04. The adjusted prices range from $8.04 to $11.90 per square foot, a range of $3.86, and show a mean of$9.93 per square foot. Based on the preceding analysis and discussion, we estimate the market value for all three subject sites to be $10 per square foot. The resulting estimate of market value is shown below. 97-9158 -30- AV `D© VALUATION ADVISORY SERVICES Sales Comparison Approach - Site Valuation ADAMS PROPERTY INDICATED MARKET VALUE VIA THE SALES COMPARISON APPROACH, as of July 3, 1997, rounded $50,000 Per Square Foot $10.00 PICINI PROPERTY INDICATED MARKET VALUE VIA THE SALES COMPARISON APPROACH, as of July 3, 1997, rounded $50,000 Per Square Foot $10.00 LA JOY PROPERTY- NORTH LOT INDICATED MARKET VALUE VIA THE SALES COMPARISON APPROACH, as of July 3, 1997, rounded $65,000 Per Square Foot $10.07 LA JOY PROPERTY- SOUTH LOT INDICATED MARKET VALUE VIA THE SALES COMPARISON APPROACH, as of July 3, 1997, rounded $65,000 Per Square Foot $9.99 97-9158 -31- CUSHEW& *Q001ELD. VALUATION ADVISORY SERVICES SALES COMPARISON APPROACH - BUILDING VALUATION Introduction This previous section describes the general methodology of valuation through sales comparison. In this section, we value the La Joy house as improved through sales comparison. As has been previously mentioned, the building is configured as a single family residence, but located in an area better suited to office or retail use. Given the inconsistency of the improvements with the immediate neighborhood, we have utilized two sets of comparisons. The first set is single family residential homes in the immediate area, with the second smaller older commercial buildings in the downtown core. The La Joy home is situated on a 12,959-square foot site that is under one parcel number but is legally two lots. We have spoken with the City of Renton Planning and Zoning Department, which indicated it would be legal to resegregate the property into these two lots at some future point. Most comparable, particularly in the single family category, are situated on single rather than double lots. As a result, we have valued the home on the north lot alone, and added back the value of the south lot. Only one of our house sales had a similar site size, and its total purchase price is used as a test of reasonableness to the value concluded through this methodology. Because each of our four house sales were purchased for continued use as a residence, and we believe the La Joy house would instead be purchased for use as a residential or commercial building, it is also necessary to provide smaller commercial building sales as additional comparisons. While these sales are more comparable in use, they are generally considered inferior comparisons primarily due to their physical dissimilarity. Nonetheless, these comparisons provide an indication of investor appetite for commercial buildings in the downtown Renton core. Finally, none of the comparisons, in either the single family or commercial categories, have deferred maintenance comparable to that at the subject. We value the subject through comparison as if it has only typical deferred maintenance. After concluding the value as a single family home, we deduct the cost of a new roof, the cost of repairing roof leaks and water damage, and the cost of new exterior paint. From our value conclusion of the subject as a commercial building, we deduct these items, plus the cost to reconfigure the interior to a commercial or retail use. The comparisons are discussed below. House Sale Comparisons The most widely-used and market-oriented unit of comparison for properties such as the subject is the sales price per square foot of building area. All comparable sales were analyzed on this basis. The sales were arm's-length transactions transferring the fee simple interest. All sales were for cash or equivalent terms. In selecting comparisons, we considered it important to select sales of properties as close as possible to the Renton CBD core. Both a summary and map of these comparisons are shown on facing pages, with additional details included in the Addenda. One important item is noteworthy regarding the adjustments. The subject is 2,200 square feet, while the comparisons range from 1,420 to 1,540 square feet. The majority of houses in the market are in this smaller size range, and we do not believe the market will apply full value to the subject's additional building area. In valuing the subject, we determine a value for the first 1,500 square feet of building area, making no adjustment to the comparisons for size. The remaining 97-9158 -32- w�`D� VALUATION ADVISORY SERVICES Sales Comparison Approach - Building Valuation 700 square feet of building area are valued at half the adjusted per square foot value, with the total of these two figures the whole property value, prior to the addition of excess land. House Sale No. 1 is two blocks south and three blocks west of the subject on Whitworth Avenue South. The house is 1.5 stories, with four bedrooms and 1 bath, situated on a 4,800 square foot site zoned CD. It was purchased in March 1997 for $105,000, or $69.08 per square foot. We make upward adjustments for location, the subject's additional bedrooms. Downward Adjustments: None Upward Adjustments: Bedrooms/baths; location Overall Adjustment: Upward House Sale No. 2 is possibly the most comparable recent sale in the downtown Renton market. This is a house three blocks west, at 215 Whitworth Avenue South, measuring 1,540 square feet, on a 13,917-square foot site. The site is actually three lots, at 6,717 square feet, 4,800 square feet, and 2,400 square feet. The house is situated on the north 6,717 square feet, with the remaining 7,000 square feet considered excess land. We have extracted the excess land from the purchase price at $8 per square foot, a value lower than applied to the subject land due to location. This property sold in July of 1996 for $180,000, or $124,000 without the excess land area. This is $80.52 per square foot. Downward Adjustments: Age, Condition Upward Adjustments: Date of sale, Bedrooms/bath Overall Adjustment: Downward House Sale No. 3 is two blocks south and one block west of the subject, at 440 Smithers Avenue South. This home was purchased in June of 1996 for $114,950, or $80.95 per square foot. Downward Adjustments: None Upward Adjustments: Date of sale, location, bedroom/bath Overall Adjustment: Upward House Sale No. 4 is one of the better comparisons to the subject as it fronts Burnett Avenue South and is adjacent to the south of the most southern commercial improvement on this right of way (the VFW hall). This is a 1,530 square foot home with four bedrooms and one bath that has been very well maintained and is in good condition. Downward Adjustments: Condition Upward Adjustments. Date of sale, location, bedroom/bath Overall Adjustment: Upward 97-9158 & -33- Q KWELD, VALUATION ADVISORY SERVICE Sales Comparison Approach - Building Valuation Discussion and Analysis of Comparable Sales The sales present a range of prices between $69.08 and $80.95 per square foot, a range of$11.87. The adjusted prices range from $75.99 to $93.09 per square foot, a range of$17.10, though we note that three of the four adjusted sales are $75.99, $78.51, and $78.89 per square foot. The mean is $81.62 per square foot. Based on the preceding analysis and discussion, we estimate the market valued the first 1,500 square feet at $80 per square foot, or$120,000. The remaining 700 square feet are valued at $40 per square foot, or half the concluded per square foot value. This indicates an additional $28,000 in property value, for a total property value of$148,000, or $150,000 rounded. LA JOY HOUSE AND NORTH LOT INDICATED MARKET VALUE VIA THE SALES COMPARISON APPROACH, as of July 3, 1997, rounded $150,000 Per Square Foot $68.18 To this we must add the value of the excess land at $65,000, indicating a whole property value of $215,000. This may be compared to House Sale No. 2, at $180,000, which sold one year prior to the date of appraisal on less valuable land and was a smaller house. We believe this comparison is a good test of reasonableness to the overall property value. LA JOY HOUSE AND BOTH LOTS INDICATED MARKET VALUE VIA THE SALES COMPARISON APPROACH, as of July 3, 1997, rounded $215,000 Per Square Foot $97.72 From the whole property value must be deducted the estimated cost to cure deferred maintenance items. We note that these are only estimates, and that if formal bids are later obtained, the bids should be used instead of our estimates to calculate the cost to cure. We noted that the property needs a new roof, estimated at $8,000, and that repairs need to be made to the ceilings of both the kitchen and the south side of the second level. This work combined is estimated at $2,000. Finally, the exterior needs to be repainted, estimated at a cost of $6,000. In total, this is $16,000, and indicates an "as is" property value of $199,000, or $200,000 rounded. LA JOY HOUSE AND BOTH LOTS- REFLECTING THE COST TO CURE DEFERRED MAINTENANCE INDICATED MARKET VALUE VIA THE SALES COMPARISON APPROACH, as of July 3, 1997, rounded $200,000 Per Square Foot $90.91 97-9158 _34_ AVKELDm VALUATION ADVISORY SERVICES Sales Comparison Approach - Building Valuation Commercial Building Sale Comparisons The commercial building sales are also analyzed on a price per square foot of building area basis. The sales were arm's-length transactions transferring the fee simple interest. All sales were for cash or equivalent terms. In selecting comparisons, we focused on older, smaller retail or office buildings in the Renton CBD core. Both a summary and map of these comparisons are shown on facing pages, with additional details included in the Addenda. Market Sale No. 1 is a small retail and office building at 410 Burnett Avenue South, two blocks south of the subject. It was purchased in January of 1995 for $220,000, or $65.67 per square foot of building area. This two-story building is the most physically similar of any of our comparisons to the subject, and should receive a moderate upward adjustment only for date of sale and location. Downward Adjustments: Age, Condition Upward Adjustments: Date of sale, location, size Overall Adjustment: Upward Market Sale No. 2 is the February 1996 purchase of the former Puget Sound Bank Building across Williams Avenue South and just north of the subject. In November 1990, this branch sold from Washington Mutual to Puget Sound Bank for $535,000, and was surplused when Key Bank acquired Puget Sound Bank. The February 1996 sale was at $354,555, or $72.23 per square foot for a vacant building. It was renovated in early 1997 into the Cedar River Microbrewery. The building is one story plus a mezzanine, and is on a 21,250-square foot well exposed corner parcel zoned CD. Due to the building's situation on the site, there is no excess site area for development without demolition of the improvements. This building is difficult to compare to the subject as the physical structures are simply different property types. However, this property was purchased at $72.23 per square foot with the buyer recognizing a complete interior remodel would be required. We valued the subject without the excess lot at $68.18 per square foot, which appears to be a reasonable shell value in this market. Downward Adjustments: Age, Condition Upward Adjustments: Date of sale, size Overall Adjustment: Downward Market Sale No. 3 is the June 1997 purchase of a two-story older office building at 226 Williams Avenue South, for $573,000, or $74.31 per square foot for the building's 7,710 square feet. This sale included a 22,400-square foot interior lot, and the building was at stabilized occupancy at sale according to the selling broker. As with the above sale, the building is situated on the site in a manner allowing no excess development land. This building is also physically dissimilar to the subject , making it a difficult comparisons. However, it is the most recent sale in the Renton CBD core, and is an indicator of continued demand in the Renton CBD. Downward Adjustments: Age, Condition Upward Adjustments: Size Overall Adjustment: Downward 97-9158 _35_ A aAE`D® VALDA110N ADVISORY SERVICES Sales Comparison Approach - Building Valuation Discussion and Analysis of Comparable Sales The three sales above present an unadjusted range of prices between $65.67 and $74.33 per square foot, which is a total range of $8.64. The adjusted range is $66.89 to $70.61 per square foot, or a total spread of $3.72. We reconcile the subject's property value to $70 per square foot, which is appropriately applied to the whole building area as all comparisons had two stories and were at least the size of the subject. Multiplied by the subject's 2,200 square feet, a property value of $155,000 is indicated. To this, the value of the south lot is added, at $65,000, for a total property value of$220,000. LA JOY HOUSE AND BOTH LOTS - HOUSE VALUED AS A COMMERCIAL BUILDING INDICATED MARKET VALUE VIA THE SALES COMPARISON APPROACH, as of July 3, 1997, rounded $220,000 Per Square Foot $100 As was discussed previously, the subject has deferred maintenance. In addition to the deferred maintenance discussed above, totaling $16,000 and reducing the value to $204,000 before rounding, there is also the issue of the cost to reconfigure the interior to a commercial use. The appropriate deduction for the cost to cure functional obsolesce was estimated in the Property Description section at $11,000, or $5 per square foot. This reduces the property value to $193,000, or $195,000 rounded. LA JOY HOUSE AND BOTH LOTS - HOUSE VALUED AS A COMMERCIAL BUILDING REFLECTING THE COST TO CURE DEFERRED MAINTENANCE INDICATED MARKET VALUE VIA THE SALES COMPARISON APPROACH, as of July 3, 1997, rounded $195,000 Per Square Foot $88.64 Reconciliation The value of the La Joy house through sales comparison totaled $200,000 as a residence and $195,000 as a commercial building. We reconcile the La Joy property value through sales comparison at $200,000. ISHWA97-9158 -36- AKELD® VALUATION ADVISORY SERVICES INCOME CAPITALIZATION APPROACH Methodology The Income Capitalization Approach is a method of converting the anticipated economic benefits of owning property into a value estimate through capitalization. The principle of "anticipation" underlying this approach is that prudent investors recognize a relationship between income and an asset's value. In order to value the anticipated economic benefits of a particular property, potential income and expenses must be estimated and the most appropriate capitalization method selected. The two most common methods of converting net income into value are Direct Capitalization and Discounted Cash Flow Analysis. In Direct Capitalization, net operating income is divided by an overall rate extracted directly from market sales to indicate a value. In the Discounted Cash Flow Analysis, anticipated future net income streams and a reversionary value are discounted to an estimated present value. The La Joy house is most appropriately analyzed through direct capitalization, and this is the only method used in this report. We have used commercial building rental comparisons in this report, as we believe there is not significant current demand for rental single-family real estate in the Renton CBD core. Analysis of Market Comparisons and Estimation of Market Rent Comparable Data Four buildings provide good information on market rental rates for commercial space in the Renton CBD core, including the Old Cedar River Antique Mall at Wells and Third, the 212 Wells Building, at 212 Wells Avenue South, the Century 321 Building on Burnett Avenue South, and the Midtown Building at 226 Williams Avenue South. Rental Comparison No. 1, the Old Cedar River Antique Mall, has 3,200 square feet of upper level office space, with around 2,000 square feet vacant. The current receiving and asking rate is $4.50 per square foot, gross, which just covers expenses. This space is somewhat untraditional office, without a lobby, or easily found access point. As a result, it has been hard to market. The owner is in the process of converting existing leases to NNN, but is meeting with resistance due to the current expensive heating system. Rental Comparison No. 2 is the 212 Wells Avenue Building. Some office tenants include Cascade Awning Service, Paralegal Services, Treasured Homes, Inc., Valley Daily News, Christian Science Reading Room, and the Downtown Renton Association. Asking rents are $12 per square foot per year gross, with the landlord indicating he is also received $12 per square foot from current tenants. Expenses are $4.50 per square foot, and the landlord indicates tenants take the space as is, with no concessions, on short term leases of between one and three years. The triple net equivalent rental rate is $7.50 per square foot. Rental Comparison No. 3 is the Century 321 Building, between South Third and South Fourth Streets on Burnett Avenue South. This is a condominiumized office complex, with four separate owners, and one space subleased to Farmers Insurance for $12 per square foot gross, or $7.75 per square foot triple net. 97-91588 -37- MAL6. VALUATION ADVISORY SERVICES Income Capitalization Approach Rental Comparison No. 4 is the Midtown Office Building, at 226 Williams Avenue South. Recent leases in this building have been done at between $8 and $13.25 per square foot on a gross basis, with expenses near $4.25 per square foot. Net operating income ranges from $3.75 to $9 per square foot, with the majority of leases at around $7 to $8 per square foot triple net. Market Rent Conclusion/Potential Gross Income from Office Rent For the 1,100 square foot main level, we conclude market rent at $7.50 per square foot triple net. For the 1,100 square foot second level, our market rent conclusion is $4.50 per square foot triple net. Potential gross annual income using these market rental rates is $13,200. Reimbursable Expenses We concluded market rents assuming a triple net lease structure. In a triple net lease, all operating expenses are reimbursed by the tenant to the landlord. Since the operating expenses are handled on a reimbursement basis, many of the expenses are actually made by the property owner prior to being reimbursed by the tenant. This is reflected in the Direct Capitalization. Vacancy and Credit Loss Both the investor and the appraiser are primarily interested in the annual revenue an income property is likely to produce over a specified period of time, rather than the income it could produce if it were always 100 percent occupied and all tenants were paying their rent in full and on time. It is prudent to expect some income loss as tenants vacate, fail to pay rent or pay rent late. We have selected a vacancy and collection loss for the subject of 5 percent. This is approximately equivalent to the current vacancy rate for the market as well as the historical stabilized vacancy rate for the area. Operating Expenses Projected operating expenses are shown on the direct capitalization analysis on the facing page. Real estate taxes are based on a market value estimate for the house and the north lot of $135,000 (after the deduction for deferred maintenance). Other expenses, including insurance, utilities, repairs and maintenance, and reserves are estimated at amounts typical for a property of this size. We estimate management at 2 percent of effective gross income, and this is the one expense item not reimbursed by the tenant. Total Expenses Total expenses for the subject analyzed on a fee simple basis are estimated to be $4,763, or $2.16 per square foot annually. Direct Capitalization Net operating income will be calculated into a value indication by the Direct Capitalization Method. According to the Appraisal of Real Estate, Tenth Edition, by the Appraisal Institute: 97-9158 -38- ALD© VdAPON ADVISORY SERVICES Income Capitalization Approach "Direct Capitalization is a method used to convert an estimate of a single year's income expectancy, or an annual average of several years'income expectancies, into an indication of value in one direct step--either by dividing the income estimate by an appropriate rate or by multiplying the income estimate by an appropriate factor." Typically the overall capitalization rate (OAR) is derived from an analysis of market sales. Of the three sales, the OAR for the Midtown building was 9.43 percent. The former bank branch purchased for conversion to the Cedar River Brewery did not have associated income, and we were unable to obtain information for the retail/office building on Burnett Avenue South (Market Sale No. 1). As additional OAR indicators, we use two commercial building sales from the Renton market, including an office building at 43-49 Logan Avenue South, which commanded an OAR of 12.63 percent, and the Del Mar office building on Maple Avenue, which commanded an OAR of 8.04 percent. We reconcile the OAR for the subject to about the midpoint of this range at 10. Capitalizing the subject's NOI at 10 percent results in a rounded property value of $120,000. This is before adding the value of the south lot, and before deducting for the cost of deferred maintenance. INDICATED VALUE BY DIRECT CAPITALIZATION - HOUSE AND NORTH LOT ONLY, as of July 3, 1997, rounded $120,000 Per Square Foot $54.55 We add the value of the south lot, bringing the total property value to $185,000. INDICATED VALUE BY DIRECT CAPITALIZATION - HOUSE AND BOTH LOTS, as of July 3, 1997, rounded $185,000 Per Square Foot $84.09 From the total value, we make a deduction for structural deferred maintenance, estimated at $16,000, bringing the property value to $169,000, or $170,000 rounded. INDICATED VALUE BY DIRECT CAPITALIZATION - HOUSE AND BOTH LOTS, REFLECTING THE COST OF DEFERRED MAINTENANCE as of July 3, 1997, rounded $170,000 Per Square Foot $77.27 97-9158 -39- AiCEu <da VALUATION ADVISORY SERVICES Income Capitalization Approach An additional deduction must be made for the cost to cure functional obsolescence, which in this case is better thought of as the landlord's cost to provide tenant improvements. The rental comparisons reflected space taken "as is". However, the comparisons already had a commercial configuration, while the subject is configured for residential use. We make a deduction of $11,000, or $5 per square foot, for tenant improvements, indicating a property value of $159,000, or$160,000 rounded. INDICATED VALUE BY DIRECT CAPITALIZATION - HOUSE AND BOTH LOTS, REFLECTING THE COST OF PHYSICAL AND FUNCTIONAL DEFERRED MAINTENANCE as of July 3, 1997, rounded $160,000 Per Square Foot $72.73 97-9158 -40- &KEFI VALUATION ADVLSORY SERVICES RECONCILIATION AND FINAL VALUE ESTIMATE This section of the report analyzes the value indications arrived at by each approach, considering the quantity and quality of the data employed, and concludes the final value estimate. The value indications for the subject properties by the two approaches to value are summarized below: Sales Comparison Approach -Adams Property: $50,000 Sales Comparison Approach - Picini Property: $50,000 Sales Comparison Approach - La Joy Property: $200,000 Income Capitalization Approach - La Joy Property: $160,000 Final Value Estimate: Adams Property $50,000 Picini Property: $50,000 La Joy Property: $190,000 The Adams and Picini properties are most appropriately analyzed though comparison of sales of nearby commercial sites. For these two properties, the Sales Comparison Approach was the only approach used, and the values through this approach, at $50,000 per lot, were derived by current market data of comparably located and zoned properties. We consider the values through this approach for these two properties, as well as the lot value conclusions for the two La Joy parcel, highly reliable and well supported. The Sales Comparison Approach was also used to determine the value of the La Joy property as improved. Sales of residential and commercial properties were used, and combined enabled a very reliable value indication to be derived. We placed a high level of emphasis on the value through the Sales Comparison Approach in concluding the value of the La Joy property as improved. The Income Approach benefited from plentiful lease data from the immediate area. However, this data reflected spaces dissimilar to the subject given the subject's configuration as a residential home. We do not consider this approach highly reliable due to the lack of homogeneity of the rental comparisons as they relate to the subject, and have placed only moderate emphasis on the Income Approach as a result. The Americans with Disabilities Act (ADA) became effective January 26, 1992. Notwithstanding any discussion of possible readily achievable barrier removal construction items in this report, we have not made a specific compliance survey and analysis of this property to determine whether or not it is in conformity with the various detailed requirements of the ADA. It is possible that a compliance survey of the property together with a detailed analysis of the requirements of the ADA could reveal the property is not in compliance with one or more of the requirements of the Act. If so, this fact could have a negative effect upon the value of the property. Since we have no direct evidence relating to this issue, we did not consider possible non-compliance with the requirements of ADA in estimating the value of the property. In consideration of the above analysis, the market value of the fee simple interest in the subject properties, as of July 3, 1997, is estimated to be: 97-9158 -41- MEMM VALUATION ADVISORY SERVICES Reconciliation and Final Value Estimate ADAMS PARCEL FIFTY THOUSAND DOLLARS $50,000 PICINI PARCEL FIFTY THOUSAND DOLLARS $50,000 LA JOY PROPERTY ONE HUNDRED NINETY THOUSAND DOLLARS $190,000 Marketing Time Marketing time is an estimate of the time that might be required to sell a real property interest at the appraised value. Marketing time is presumed to start on the effective date of the appraisal. (Marketing time is subsequent to the effective date of the appraisal and exposure time is presumed to precede the effective date of the appraisal.) The estimate of marketing time uses some of the same data analyzed in the process of estimating reasonable exposure time and it is not intended to be a prediction of a date of sale. We have estimated the marketing time for the subject property to be under one year. This estimate is based on the marketing time of the comparable sales used in the Sales Comparison Approach and conversations with brokers and other real estate professionals familiar with the subject properties and the subject's market. 97-9158 -42- AKEV�E�d® VALUATION ADVISORY SERVICES GENERAL ASSUMPTIONS AND LIMITING CONDITIONS "Appraisal" means the appraisal report and opinion of value stated therein; or the letter opinion of value, to which these Assumptions and Limiting Conditions are annexed. "Property" means the subject of the Appraisal. "C&W' means Cushman & Wakefield, Inc. or its subsidiary which issued the Appraisal. "Appraiser(s)" means the employee(s) of C&W who prepared and signed the Appraisal. This appraisal is made subject to the following assumptions and limiting conditions: 1. No opinion is intended to be expressed and no responsibility is assumed for the legal description or for any matters which are legal in nature or require legal expertise or specialized knowledge beyond that of a real estate appraiser. Title to the Property is assumed to be good and marketable and the Property is assumed to be free and clear of all liens unless otherwise stated. No survey of the Property was undertaken. 2. The information contained in the Appraisal or upon which the Appraisal is based has been gathered from sources the Appraiser assumes to be reliable and accurate. Some of such information may have been provided by the owner of the Property. Neither the Appraiser nor C&W shall be responsible for the accuracy or completeness of such information, including the correctness of estimates, opinions, dimensions, sketches, exhibits and factual matters. 3. The opinion of value is only as of the date stated in the Appraisal. Changes since that date in external and market factors or in the Property itself can significantly affect property value. 4. The Appraisal is to be used in whole and not in part. No part of the Appraisal shall be used in conjunction with any other appraisal. Publication of the Appraisal or any portion thereof without the prior written consent of C&W is prohibited. Except as may be otherwise stated in the letter of engagement, the Appraisal may not be used by any person other than the party to whom it is addressed or for purposes other than that for which it was prepared. No part of the Appraisal shall be conveyed to the public through advertising, or used in any sales or promotional material without C&W's prior written consent. Reference to the Appraisal Institute or to the MAI designation is prohibited. 5. Except as may be otherwise stated in the letter of engagement, the Appraiser shall not be required to give testimony in any court or administrative proceeding relating to the Property or the Appraisal. 6. The Appraisal assumes (a) responsible ownership and competent management of the Property; (b) there are no hidden or unapparent conditions of the Property, subsoil or structures that render the Property more or less valuable (no responsibility is assumed for such conditions or for arranging for engineering studies that may be required to discover them); (c) full compliance with all applicable federal, state and local zoning and environmental regulations and laws, unless noncompliance is stated, defined and 97-9158 -43- WFNM VALUATION ADVISORY SERVICES General Assumptions and Limiting Conditions considered in the Appraisal; and (d) all required licenses, certificates of occupancy and other governmental consents have been or can be obtained and renewed for any use on which the value estimate contained in the Appraisal is based. 7. The physical condition of the improvements considered by the Appraisal is based on visual inspection by the Appraiser or other person identified in the Appraisal. C&W assumes no responsibility for the soundness of structural members nor for the condition of mechanical equipment, plumbing or electrical components. 8. The forecasted potential gross income referred to in the Appraisal may be based on lease summaries provided by the owner or third parties. The Appraiser has reviewed lease documents, but assumes no responsibility for the authenticity or completeness of lease information provided by others. C&W recommends that legal advice be obtained regarding the interpretation of lease provisions and the contractual rights of parties. 9. The forecasts of income and expenses are not predictions of the future. Rather, they are the Appraiser's best estimates of current market thinking on future income and expenses. The Appraiser and C&W make no warranty or representation that these forecasts will materialize. The real estate market is constantly fluctuating and changing. It is not the Appraiser's task to predict or in any way warrant the conditions of a future real estate market; the Appraiser can only reflect what the investment community, as of the date of the Appraisal, envisages for the future in terms of rental rates, expenses, supply and demand. 10. Unless otherwise stated in the Appraisal, the existence of potentially hazardous or toxic materials which may have been used in the construction or maintenance of the improvements or may be located at or about the Property was not considered in arriving at the opinion of value. These materials (such as formaldehyde foam insulation, asbestos insulation and other potentially hazardous materials) may adversely affect the value of the Property. The Appraisers are not qualified to detect such substances. C&W recommends that an environmental expert be employed to determine the impact of these matters on the opinion of value. 11. Unless otherwise stated in the Appraisal, compliance with the requirements of the Americans With Disabilities Act of 1990 (ADA) has not been considered in arriving at the opinion of value. Failure to comply with the requirements of the ADA may adversely affect the value of the property. C&W recommends that an expert in is field be employed. 97-9158 & -44- WAKEFlELDm VALUATION ADVISORY SERVICES CERTIFICATION OF APPRAISAL We certify that, to the best of our knowledge and belief: 1. Valerie A. Foster, MAI inspected the property, and Kenneth A. Barnes, MAI, Director, Manager, Valuation Advisory Services, has reviewed and approved the report, but did not inspect the property. 2. The statements of fact contained in this report are true and correct. 3. The reported analyses, opinions, and conclusions are limited only by the reported assumptions and limiting conditions, and are our personal, unbiased professional analyses, opinions, and conclusions. 4. We have no present or prospective interest in the property that is the subject of this report, and we have no personal interest or bias with respect to the parties involved. 5. Our compensation is not contingent upon the reporting of a predetermined value or direction in value that favors the cause of the client, the amount of the value estimate, the attainment of a stipulated result, or the occurrence of a subsequent event. The appraisal assignment was not based on a requested minimum valuation, a specific valuation or the approval of a loan. 6. No one provided significant professional assistance to the persons signing this report. 7. Our analyses, opinions, and conclusions were developed, and this report has been prepared, in conformity with the Uniform Standards of Professional Appraisal Practice of the Appraisal Foundation and the Code of Professional Ethics and the Standards of Professional Appraisal Practice of the Appraisal Institute. 8. The use of this report is subject to the requirements of the Appraisal Institute relating to review by its duly authorized representatives. 9. As of the date of this report, Valerie A. Foster, MAI, and Kenneth A. Barnes, MAI have completed the requirements of the continuing education program of the Appraisal Institute. i 'Val A. Foster, MAI Senior Appraiser, Valuation Advisory Services WA State Cert. No. FOSTEVA31OBD Kenneth A. Barnes, MAI Director, Manager, Valuation Advisory Services WA State Cert. No. BARNEKA40203 97-9158 -45- CW'"" WAKWEL& VALUATION ADVISORY SERVICES "M2o " a � r✓ s t I r Y= s to z , ADDENDA Engagement Letter Preliminary Title Reports Land Sale Comparisons Market Sale Comparisons - Houses Market Sale Comparisons - Commercial Buildings Rental Comparisons - Commercial Buildings Qualifications 97-9158 & -46- WAKEFIELD° VALUATION ADVISORY SERVICES dw 4W PACIFIC NORTHWEST TITLE COMPANY l OF WASHINGTON, INC. 1201 Third Avenue, Suite 3800 Seattle, Washington 98101 +� Senior Title Officer, Mike Sharkey Title Officer, Diana L. Cardenas Unit No. 12 dw FAX Number 206-343-1330 Telephone Number 206-343-1327 dw The City of Renton Public Works Department ro 200 Mill Avenue South Title Order No. : 314570 Renton, Washington 98055 Attention: Tom Boyds as Customer Ref. : WO #25365 A. L. T. A. COMMITMENT SCHEDULE A do Effective Date: June 2, 1997, at 8:00 a.m. do 1. Pacific Northwest Title Insurance Company Policy(ies) to be issued: A. ALTA Owner's Policy Amount TO BE AGREED UPON do Standard (X) Extended ( ) Premium Tax (8.6%) Proposed Insured: to TO FOLLOW B. WORK CHARGES Amount $ 290.00 of Tax (8 .60) $ 24 . 94 2 . The estate or interest in the land described herein and which is rD covered by this commitment is fee simple. 3 . The estate or interest referred to herein is at Date of Commitment vested in: JOHN W. ADAMS and EMILY J. ADAMS, as their respective separate ml estates (NOTE: SEE SPECIAL EXCEPTION NUMBER 4 REGARDING EXECUTION OF THE do FORTHCOMING DOCUMENT(S) TO BE INSURED) . 4 . The land referred to in this commitment is situated in the County of ,o King, State of Washington, and described as follows : As on Schedule A, page 2, attached. do do r Order No. 314570 A.L.T.A. COMMITMENT SCHEDULE A Page 2 The land referred to in this commitment is situated in the county of King, state of Washington, and described as follows: nir Lot 6, Block 2, Motor Line Addition to Renton, according to the plat thereof recorded in volume 9 of Plats, page 50, in King County, Washington. END OF SCHEDULE A dW ar do as do NOTE FOR INFORMATIONAL PURPOSES ONLY: do The following may be used as an abbreviated legal description on the documents to be recorded, per amended RCW 65.04 . Said abbreviated legal description is not a substitute for a complete legal description within ,W the body of the document. Lot 6, Blk. 2, Motor Line Add. to Renton, Vol. 9. Pg. 50 dW .o r PACIFIC NORTHWEST TITLE COMPANY OF WASHINGTON, INC. A.L.T.A. COMMITMENT Schedule B Order No. 314570 M I. The following are the requirements to be complied with: A. Instruments necessary to create the estate or interest to be insured must be properly executed, delivered and duly filed for record. B. Payment to or for the account of the grantors or mortgagors of the full consideration for the estate or interest to be insured. II. Schedule B of the Policy or Policies to be issued (as set forth in Schedule A) will contain exceptions to the following matters unless the same are disposed of to the satisfaction of the Company: A. Defects, liens, encumbrances, adverse claims or other matters, if any created, first appearing in the public records or attaching subsequent to the effective date hereof but prior to the date the proposed Insured acquires for value of record the estate or interest or mortgage thereon covered by this Commitment. rw B. GENERAL EXCEPTIONS: 1. Rights or claims of parties in possession not shown by the public records. 2 . Public or private easements, or claims of easements, not shown by the public record. 3 . Encroachments, overlaps, boundary line disputes, or other matters which would be disclosed by an accurate survey or inspection of the premises. 4 . Any lien, or right to a lien, for services, labor or material d heretofore or hereafter furnished, imposed by law and not shown by the public records, or Liens under the workmen's Compensation Act not shown by the public records. me 5 . Any title or rights asserted by anyone including but not limited to persons, corporations, governments or other entities, to tide lands, or lands comprising the shores or bottoms of navigable rivers, lakes, bays, ocean or sound, or +o lands beyond the line of the harbor lines as established. or changed by the United States Government. 6 . (a) Unpatented mining claims; (b) reservations or exceptions do in patents or in Acts authorizing the issuance thereof; (c) water rights, claims or title to water. 7 . Any service, installation, connection, maintenance, capacity, or construction charges for sewer, water, electricity or ■ garbage removal. 8 . General taxes not now payable or matters rel.a*_ing to special assessments and special levies, if any, preceding the same becoming a lien. 9 . Indian tribal codes or regulations, Indian treaty or aboriginal rights, including, but not limited to, easements or equitable servitudes. ■/ C. SPECIAL EXCEPTIONS: As on Schedule B, attached. do r l Order No. 314570 A.L.T.A. COMMITMENT SCHEDULE B Page 2 SPECIAL EXCEPTIONS: NOTE FOR INFORMATION PURPOSES ONLY: EFFECTIVE JANUARY 1, 1997, AND PURSUANT TO AMENDMENT OF WASHINGTON ® STATE STATUTES RELATING TO STANDARDIZATION OF RECORDED DOCUMENTS, THE FOLLOWING FORMAT AND CONTENT REQUIREMENTS MUST BE MET. FAILURE TO COMPLY MAY RESULT IN REJECTION OF THE DOCUMENT BY THE RECORDER. FORMAT: s MARGINS TO BE 3" ON TOP OF FIRST PAGE, 1" ON SIDES AND BOTTOM - 1" ON TOP, SIDES AND BOTTOM OF EACH SUCCEEDING PAGE. RETURN ADDRESS IS ONLY ITEM ALLOWED WITHIN SAID 3" MARGIN. NOTHING WITHIN 1" MARGINS. r FONT SIZE OF 8 POINTS OR LARGER AND PAPER SIZE OF NO MORE THAN 8 1/2" BY 14" . do NO ATTACHMENTS ON PAGES SUCH AS STAPLED OR TAPED NOTARY SEALS; PRESSURE SEALS MUST BE SMUDGED. INFORMATION WHICH MUST APPEAR ON THE FIRST PAGE: RETURN ADDRESS, WHICH MAY APPEAR WITHIN THE UPPER LEFT HAND 3" MARGIN. • TITLE OR TITLES OF DOCUMENT. IF ASSIGNMENT OR RECONVEYANCE, REFERENCE TO RECORDING NUMBER OF SUBJECT DEED OF TRUST. NAMES OF GRANTOR(S) AND GRANTEE(S) WITH REFERENCE TO ADDITIONAL NAMES ON FOLLOWING PAGES, IF ANY. ABBREVIATED LEGAL DESCRIPTION (LOT, BLOCK, PLAT NAME, OR SECTION, r TOWNSHIP, RANGE AND QUARTER QUARTER SECTION FOR UNPLATTED) . ASSESSOR'S TAX PARCEL NUMBER(S) . (continued) rrf Order No. 314570 A.L.T.A. COMMITMENT SCHEDULE B Page 3 SPECIAL EXCEPTIONS (continued) : s 1. GENERAL AND SPECIAL TAXES AND CHARGES: FIRST HALF DELINQUENT MAY 1, IF UNPAID: SECOND HALF DELINQUENT NOVEMBER 1, IF UNPAID: YEAR: 1997 TAX ACCOUNT NUMBER: 569600-0075-08 LEVY CODE: 2100 +� CURRENT ASSESSED VALUE: Land: $35, 000.00 Improvements: $ 2, 500.00 GENERAL TAXES: AMOUNT BILLED: $520.23 AMOUNT PAID: $260.12 r AMOUNT DUE: $260.11 SPECIAL DISTRICT: AMOUNT BILLED: $1.25 AMOUNT PAID: $ .62 AMOUNT DUE: $ .63 • 2 . JUDGMENT: AGAINST: John Adams IN FAVOR OF: Ron Jacobson, doing business as Ferguson Apartments • AMOUNT: $621.00, plus interest and/or costs if any • WARNING: THIS AMOUNT IS NOT TO BE USED AS A BASIS FOR CLOSING ANY SALE OR LOAN TRANSACTION. THE AMOUNT NOW OWING AND THE REQUIREMENTS TO OBTAIN A SATISFACTION OR RELEASE OF SAID JUDGMENT MUST BE OBTAINED FROM THE JUDGMENT CREDITOR OR HIS ATTORNEY. a1f ENTERED: October 13, 1988 KING COUNTY JUDGMENT NUMBER: 88-9-14671-9 SUPERIOR COURT CAUSE NUMBER: 88-2-19459-9 ATTORNEY FOR JUDGMENT CREDITOR: Donald E. Allen r NOTE: The lien of said judgment depends upon the identity of the judgment debtor with John W. Adams. (continued) rn Order No. 314570 A.L.T.A. COMMITMENT SCHEDULE B Page 4 i 3. Payment of Real Estate Excise Tax, if required. The property described herein is situated within the boundaries of local taxing authority of City of Renton. Present Rate of Real Estate Excise Tax as of the date herein is 1.780. 4. QUESTION OF THE EXISTENCE OF AN "AUTOMATIC HOMESTEAD" : +r If the subject property is, or will be, the residence of a marital community, even though the interest therein may be intended to be the separate property of either spouse, execution of the proposed encumbrance, conveyance or contract to convey must be by both husband and wife, pursuant to R.C.W. 6.13, which provides for an "automatic homestead", and R.C.W. 26.16.030. • 5. Until the amount of the policy to be issued is provided to us, and entered on the commitment as the amount of the policy to be issued, it is agreed by every person relying on this commitment that we will not be required to approve any policy amount over $100, 000, and our total liability under this commitment shall not exceed that amount. NOTE 1: Our examination discloses that the vestee herein does not own any contiguous property. NOTE 2 : The name and address of the current taxpayer according to the King County Assessors record is: John W. Adams and Emily J. Adams 7548 South Sunnycrest Road Seattle, Washington 98178 NOTE 3 : The vestee herein acquired title by instrument recorded under Recording Number 9008220933. do 1/ Title to this property was examined by: go Barb Shaffer Any inquiries should be directed to one of the title officers set forth in Schedule A. BGS/rg/9728O do r V /o0 3o 30 /oo 13(8.14 — 3C, 44 Ad 2 3 zz u � /oo h h /D oIs, p 4{ tl� 43 f 'SSD 6 t 00o N 6l 231.79 7 2 h X30•/z 0 231.55 a h 74 0 1,6 0bD A oc O Ur 0 JyLI s b 3 n o ' to L 44y' 459 d r to °CIO 16 PI 3j I p2 /7 �p N M F p o b C 4b I w 3 4 44 44 54 07 /(,o 737.07 O S. 111) THIRD ST M 9 0 — --- --- B- (3et> LVE.) Z ^1 BGC 3o G 44 4[0 40 s4° 4 N� 3L' 30 t�y O Jste yah �`°4 — ooti v °$ \ 1 c p1� O. c5p5 4-0 O�•08 I Lz- 44 4 40 4o > > Q o Q '4 g '; 40 40 1 44 4 -� /Zn 04 \ .... 1� 0 IZ° a /ZO �O ti " 7 0� 0 r800ik� 29� 7 I22 4pp � 0 O O b c 8 �opDSS AOt37 2� 8 a6°`p -- ku 8T���.pp 2^ � 0 4I a 0 (n �150�-580 �r2D O ►!°V� ASot�0 e W y w9°�0 o opWzC,1U i � � l PACIFIC NTORTI-MTST TI"ITLE rr-X IPANTY A"OR7 ---__ Fonnerly Ste�vclrt Title Compam. Order into. - ` "'/-:f�-2� I`IPOR-rANT: This is not a Plat of Sur`•ev. It mished as a con%enience to locate the land indicated hereon ��Ith reference to streets and other land. No liability is assurned b-v reason of reliance hereon. SO UTJ d �C/ r _ Qr PACIFIC NORTHWEST TITLE COMPANY OF WASHINGTON, INC. 1201 Third Avenue, Suite 3800 Seattle, Washington 98101 +o Senior Title Officer, Mike Sharkey Title Officer, Diana L. Cardenas Unit No. 12 FAX Number 206-343-1330 Telephone Number 206-343-1327 r The City of Renton Public Works Department 200 Mill Avenue South Title Order No. : 314571 Renton, Washington 98055 Attention: Tom Boyns r Customer Ref. : WO #25365 A. L. T. A. COMMITMENT SCHEDULE A r Effective Date: June 2, 1997, at 8:00 a.m. rrr 1. Pacific Northwest Title Insurance Company Policy(ies) to be issued: A. ALTA Owner's Policy Amount TO BE AGREED UPON Standard (X) Extended ( ) Premium +� Tax (8.6%) Proposed Insured: TO FOLLOW B. WORK CHARGES Amount $290.00 Tax (8.60) $ 24.94 r 2. The estate or interest in the land described herein and which is covered by this commitment is fee simple. • 3 . The estate or interest referred to herein is at Date of Commitment vested in: JANET DUKE, as her separate estate and ELIZABETH PICINI, as her separate estate, as theie interests may appear (NOTE: SEE SPECIAL EXCEPTION NUMBER 2 REGARDING EXECUTION OF THE +� FORTHCOMING DOCUMENT(S) TO BE INSURED) . 4 . The land referred to in this commitment is situated in the County of 40 King, State of Washington, and described as follows: As on Schedule A, page 2, attached. r Order No. 314571 A.L.T.A. COMMITMENT SCHEDULE A Page 2 r The land referred to in this commitment is situated in the county of King, state of Washington, and described as follows: Lot 7, Block 2, Motor Line Addition to Renton, according to the plat thereof recorded in Volume 9 of Plats, page 50, in King County, Washington. END OF SCHEDULE A r i i as NOTE 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 . Said abbreviated legal description is not a substitute for a complete legal description within the body of the document. Lot 7, Block 2, Motor Line Add. to Renton, Vol. 9, Pg. 50 rrlf rrr s r PACIFIC NORTHWEST TITLE COMPANY OF WASHINGTON, INC. A.L.T.A. COMMITMENT Schedule B Order No. 314571 r I. The following are the requirements to be complied with: A. Instruments necessary to create the estate or interest to be insured must be properly executed, delivered and duly filed for record. B. Payment to or for the account of the grantors or mortgagors of the full consideration for the estate or interest to be insured. II. Schedule B of the Policy or Policies to be issued (as set forth in Schedule A) will contain exceptions to the following matters unless the same are disposed of to the satisfaction of the Company: r A. Defects, liens, encumbrances, adverse claims or other matters, if any created, first appearing in the public records or attaching subsequent to the effective date hereof but prior to the date the proposed Insured acquires for value of record the estate or interest or mortgage thereon covered by this Commitment. • B. GENERAL EXCEPTIONS: 1. Rights or claims of parties in possession not shown by the public records. 2. Public or private easements, or claims of easements, not shown by the public record. 3. Encroachments, overlaps, boundary line disputes, or other matters which would be disclosed by an accurate survey or inspection of the premises. 4. Any lien, or right to a lien, for services, labor or material heretofore or hereafter furnished, imposed by law and not shown by the public records, or Liens under the Workmen's Compensation Act not shown by the public records. ,W 5. Any title or rights asserted by anyone including but not limited to persons, corporations, governments or other entities, to tide lands, or lands comprising the shores or bottoms of navigable rivers, lakes, bays, ocean or sound, or • lands beyond the line of the harbor lines as established or changed by the United States Government. 6. (a) Unpatented mining claims; (b) reservations or exceptions in patents or in Acts authorizing the issuance thereof; (c) water rights, claims or title to water. 7. Any service, installation, connection, maintenance, capacity, or construction charges for sewer, water, electricity or garbage removal. 8. General taxes not now payable or matters relating to special assessments and special levies, if any, preceding the same becoming a lien. 9. Indian tribal codes or regulations, Indian treaty or aboriginal rights, including, but not limited to, easements or equitable servitudes. rrl C. SPECIAL EXCEPTIONS: As on Schedule B, attached. as • • Order No. 314571 A.L.T.A. COMMITMENT SCHEDULE B Page 2 • SPECIAL EXCEPTIONS: '+ NOTE FOR INFORMATION PURPOSES ONLY: EFFECTIVE JANUARY 1, 1997, AND PURSUANT TO AMENDMENT OF WASHINGTON do STATE STATUTES RELATING TO STANDARDIZATION OF RECORDED DOCUMENTS, THE FOLLOWING FORMAT AND CONTENT REQUIREMENTS MUST BE MET. FAILURE TO COMPLY MAY RESULT IN REJECTION OF THE DOCUMENT BY THE RECORDER. • FORMAT: MARGINS TO BE 3" ON TOP OF FIRST PAGE, 1" ON SIDES AND BOTTOM - 1" ON TOP, SIDES AND BOTTOM OF EACH SUCCEEDING PAGE. RETURN ADDRESS IS ONLY ITEM ALLOWED WITHIN SAID 3" MARGIN. NOTHING WITHIN 1" MARGINS. • FONT SIZE OF 8 POINTS OR LARGER AND PAPER SIZE OF NO MORE THAN 8 1/2" BY 14" . NO ATTACHMENTS ON PAGES SUCH AS STAPLED OR TAPED NOTARY SEALS; PRESSURE SEALS MUST BE SMUDGED. • INFORMATION WHICH MUST APPEAR ON THE FIRST PAGE: RETURN ADDRESS, WHICH MAY APPEAR WITHIN THE UPPER LEFT HAND 3" MARGIN. • TITLE OR TITLES OF DOCUMENT. • IF ASSIGNMENT OR RECONVEYANCE, REFERENCE TO RECORDING NUMBER OF SUBJECT DEED OF TRUST. NAMES OF GRANTOR(S) AND GRANTEE(S) WITH REFERENCE TO ADDITIONAL • NAMES ON FOLLOWING PAGES, IF ANY. ABBREVIATED LEGAL DESCRIPTION (LOT, BLOCK, PLAT NAME, OR SECTION, • TOWNSHIP, RANGE AND QUARTER QUARTER SECTION FOR UNPLATTED) . ASSESSOR'S TAX PARCEL NUMBER(S) . err • i (continued) • • Order No. 314571 A.L.T.A. COMMITMENT SCHEDULE B Page 3 +r SPECIAL EXCEPTIONS (continued) : 1. DELINQUENT GENERAL AND SPECIAL TAXES AND CHARGES: YEAR: 1997 do TAX ACCOUNT NUMBER: 569600-0080-01 LEVY CODE: 2100 CURRENT ASSESSED VALUE: Land: $35, 000.00 Improvements: $ 2, 500.00 DELINQUENT GENERAL TAXES: r AMOUNT BILLED: $520.23 AMOUNT PAID: $ 0.00 AMOUNT DUE: $520.23 do PLUS INTEREST DELINQUENT SPECIAL DISTRICT: as AMOUNT BILLED: $1.25 AMOUNT PAID: $0.00 AMOUNT DUE: $1.25 do PLUS INTEREST 2 . QUESTION OF THE EXISTENCE OF AN "AUTOMATIC HOMESTEAD" : 'r If the subject property is, or will be, the residence of a marital community, even though the interest therein may be intended to be the separate property of either spouse, execution of the proposed encumbrance, conveyance or contract to convey must be by both husband and wife, pursuant to R.C.W. 6.13, which provides for an "automatic homestead", and R.C.W. 26.16. 030. r 3 . Payment of Real Estate Excise Tax, if required. The property described herein is situated within the boundaries of local taxing authority of City of Renton. Present Rate of Real Estate Excise Tax as of the date herein is 1.78%. r NOTE 1: Our examination discloses that the vestee herein does not own any contiguous property. �r (continued) ar do r Order No. 314571 A.L.T.A. COMMITMENT SCHEDULE B Page 4 �w NOTE 2 : The name and address of the current taxpayer according to the s King County Assessors record is: Elizabeth Picini 1813 N.W. 77th r Seattle, Washington 98117 NOTE 3 : The vestee herein acquired title by instrument recorded under Recording Numbers 6264809 and 9208270340. i END OF SCHEDULE B • do r • do Title to this property was examined by: Jon Cross i Any inquiries should be directed to one of the title officers set forth in Schedule A. to JMC/jmp/9732O i i V /OO SO 30 /Oo 13(8.14 44 +; 2 3 ZZ7,z /00 o fl 90 g it.5 Q '�a4 h C5 �' .' ( � :;�,, • 7 X00° Jp� ; Z i/.79 /Z 0 1- N W ,s19 a z�.ss m e ,Lo,Gs • " 7 0 4 ' 0 3 o J L�z� 1S: .D.C. 144 a5}9`� d a t.0.` tion coo 2� -3 /6 m r 16 5 a l ~�.3_3 1 2 /7h aM� � a 57.� /30./2 • n t9005 �a n -44 O S• as .;THIRD S4 07 /(,o o° 3o so ST 30 4f44 40 40 ¢4 N 44 O -10 44 44So JG �,0 4 3 O ,°� 0 0 tis°sp 50�1� 04 — 4� IN 8 �4 U s c p "5yS J °pi° e0 � Oe ? Do" �- 017 p 10, Q n 0 Q '4 4 4 40 44 4 ►�m +� /ZO N \ 7 00 , AB0I k° 29�y 7 ' fl NN`t H � o _ p8�'o3d, 29'� oku 8 At' R�j35 23: 8 a do �° 23 ; e Kn d G G G ito Uj 0 �!°VO a1n1�0 ltJI 9 AS } 15D580p ,t°$ U PACIFIC INTORTHWUT TITLE CO MPANTY NaR A, \\L Fonnerly Stewart Title Com all. • I . Order No.-31 -1 5 -� I _ IMPORTANT: This is not a Plat of Survev. I: is furnished as a con%.enience to locate the land indicated hereon with reference to streets and other land. No liability is assumed by reason of reliance hereon. SOUT te, PACIFIC NORTHWEST TITLE COMPANY OF WASHINGTON, INC. 1201 Third Avenue, Suite 3800 Seattle, Washington 98101 r Senior Title Officer, Mike Sharkey Title Officer, Diana L. Cardenas Unit No. 12 do FAX Number 206-343-1330 Telephone Number 206-343-1327 Irl The City of Renton/Public Works Department 200 Mill Avenue South Title Order No. : 314572 +rr Renton, Washington 98055 Attention: Tom Boyns Customer Ref. : WO #25365 Irl A. L. T. A. COMMITMENT SCHEDULE A Effective Date: June 2, 1997 at 8 :00 a.m. • 1. Pacific Northwest Title Insurance Company Policy(ies) to be issued: A. ALTA Owner's Policy Amount TO BE AGREED UPON Standard (X) Extended ( ) Tax (8.6°6) Proposed Insured: CITY OF RENTON • B. WORK CHARGE Amount $290. 00 Tax (B .6%) $ 24. 94 so 2 . The estate or interest in the land described herein and. which is covered by this commitment is fee simple. as 3 . The estate or interest referred to herein is at Date of Commitment vested in: MICHAEL J. LA JOY and MARY JANE LA JOY, as Trustees of the MICHAEL J. AND MARY LA JOY FAMILY TRUST, under date of April 14, 1982 (NOTE: SEE SPECIAL EXCEPTION NUMBER 2 REGARDING EXECUTION OF THE FORTHCOMING DOCUMENT(S) TO BE INSURED) . 4 . The land referred to in this commitment is situated in the County of King, State of Washington, and described as follows: As on Schedule A, page 2, attached. II11 Order No. 314572 A.L.T.A. COMMITMENT SCHEDULE A Page 2 s The land referred to in this commitment is situated in the county of King, state of Washington, and described as follows: Lots 12 and 13, Block 2, Motor Line Addition to the City of Renton, according to the plat thereof recorded in Volume 9 of Plats, page 50, in King County, Washington; EXCEPT the easterly 6 feet thereof conveyed to the City of Renton by deed recorded under Recording Number 910201. END OF SCHEDULE A i ern r go 10 ad so do NOTE FOR INFORMATIONAL PURPOSES ONLY: do The following may be used as an abbreviated legal description on the documents to be recorded, per amended RCW 65 .04 . Said abbreviated legal description is not a substitute for a complete legal description within do the body of the document. Lots 12-13, Block 2, Motor Line Add. to the City of Renton, Vol. 9, Pg. 50 dd r PACIFIC NORTHWEST TITLE COMPANY OF WASHINGTON, INC. A.L.T.A. COMMITMENT Schedule B Order No. 314572 do I. The following are the requirements to be complied with: A. Instruments necessary to create the estate or interest to be insured must be properly executed, delivered and duly filed for an record. B. Payment to or for the account of the grantors or mortgagors of the full consideration for the estate or interest to be insured. nr II. Schedule B of the Policy or Policies to be issued (as set forth in Schedule A) will contain exceptions to the following matters unless the same are disposed of to the satisfaction of the Company: A. Defects, liens, encumbrances, adverse claims or other matters, if any created, first appearing in the public records or r attaching subsequent to the effective date hereof but prior to the date the proposed Insured acquires for value of record the estate or interest or mortgage thereon covered by this Commitment. B. GENERAL EXCEPTIONS: 1. Rights or claims of parties in possession not shown by the public records. 2 . Public or private easements, or claims of easements, not shown by the public record. 3 . Encroachments, overlaps, boundary line disputes, or other matters which would be disclosed by an accurate survey or inspection of the premises. 4 . Any lien, or right to a lien, for services, labor or material heretofore or hereafter furnished, imposed by law and not shown by the public records, or Liens under the Workmen' s Compensation Act not shown by the public records. 5 . Any title or rights asserted by anyone including but not limited to persons, corporations, governments or other entities, to tide lands, or lands comprising the shores or bottoms of navigable rivers, lakes, bays, ocean or sound, or lands beyond the line of the harbor lines as established or changed by the United States Government. 6 . (a) Unpatented mining claims; (b) reservations or exceptions in patents or in Acts authorizing the issuance thereof; (c) water rights, claims or title to water. 7 . Any service, installation, connection, maintenance, capacity, or construction charges for sewer, water, electricity or n1 garbage removal. 8 . General taxes not now payable or matters relating to special assessments and special levies, if any, preceding the same becoming a lien. 9. Indian tribal codes or regulations, Indian treaty or aboriginal rights, including, but not limited to, easements or equitable servitudes. C. SPECIAL EXCEPTIONS: As on Schedule B, attached. of Order No. 314572 A.L.T.A. COMMITMENT SCHEDULE B Page 2 ar SPECIAL EXCEPTIONS: NOTE FOR INFORMATION PURPOSES ONLY: EFFECTIVE JANUARY 1, 1997, AND PURSUANT TO AMENDMENT OF WASHINGTON a• STATE STATUTES RELATING TO STANDARDIZATION OF RECORDED DOCUMENTS, THE FOLLOWING FORMAT AND CONTENT REQUIREMENTS MUST BE MET. FAILURE TO COMPLY MAY RESULT IN REJECTION OF THE DOCUMENT BY THE RECORDER. FORMAT: MARGINS TO BE 3" ON TOP OF FIRST PAGE, 1" ON SIDES AND BOTTOM - 1" ON TOP, SIDES AND BOTTOM OF EACH SUCCEEDING PAGE. RETURN ADDRESS IS ONLY ITEM ALLOWED WITHIN SAID 3" MARGIN. NOTHING WITHIN 1" MARGINS. • FONT SIZE OF 8 POINTS OR LARGER AND PAPER SIZE OF NO MORE THAN 8 1/2" BY 14" . NO ATTACHMENTS ON PAGES SUCH AS STAPLED OR TAPED NOTARY SEALS; PRESSURE SEALS MUST BE SMUDGED. INFORMATION WHICH MUST APPEAR ON THE FIRST PAGE: RETURN ADDRESS, WHICH MAY APPEAR WITHIN THE UPPER LEFT HAND 3" MARGIN. TITLE OR TITLES OF DOCUMENT. IF ASSIGNMENT OR RECONVEYANCE, REFERENCE TO RECORDING NUMBER OF SUBJECT DEED OF TRUST. NAMES OF GRANTOR(S) AND GRANTEE (S) WITH REFERENCE TO ADDITIONAL +� NAMES ON FOLLOWING PAGES, IF ANY. ABBREVIATED LEGAL DESCRIPTION (LOT, BLOCK, PLAT NAME, OR SECTION, do TOWNSHIP, RANGE AND QUARTER QUARTER SECTION FOR UNPLATTED) . ASSESSOR'S TAX PARCEL NUMBER(S) . ar r� (continued) arl air r do Order No. 314572 A.L.T.A. COMMITMENT SCHEDULE B Page 3 as SPECIAL EXCEPTIONS (continued) : do 1. GENERAL AND SPECIAL TAXES AND CHARGES: FIRST HALF DELINQUENT MAY 1, IF UNPAID: SECOND HALF DELINQUENT NOVEMBER 1, IF UNPAID: YEAR: 1997 TAX ACCOUNT NUMBER: 569600-0105-02 LEVY CODE: 2100 CURRENT ASSESSED VALUE: Land: $90, 700. 00 Improvements: $26, 500.00 as GENERAL TAXES: AMOUNT BILLED: $1,625.90 AMOUNT PAID: $ 812 . 95 do AMOUNT DUE: $ 812.95 SPECIAL DISTRICT: am AMOUNT BILLED: $1.25 AMOUNT PAID: $ .63 AMOUNT DUE: $ .62 2 . Terms and Conditions of the Trust under which title is vested. A copy of the instrument creating the Trust must be submitted to the Company for examination. i 3 . Payment of Real Estate Excise Tax, if required. do The property described herein is situated within the boundaries of local taxing authority of City of Renton. Present Rate of Real Estate Excise Tax as of the date herein is rf 1 .78%. 4 . Until the amount of the policy to be issued is provided to us, and entered on the commitment as the amount of the policy to be issued, it is agreed by every person relying on this commitment that we will not be required to approve any policy amount over $100, 000, and our total liability under this commitment shall not exceed that amount. df NOTE 1 : Our examination discloses that the vestee herein does not own any contiguous property. d6 40 do (continued) do r Order No. 314572 A.L.T.A. COMMITMENT SCHEDULE B Page 4 an NOTE 2: The name and address of the current taxpayer according to the King County Assessors record is: r Mary Jane La Joy 13784 Marchant Avenue ,W Sylmar, CA 91342 NOTE 3 : The vestee herein acquired title by instrument recorded under Recording Number 8204270649. • END OF SCHEDULE B r i go do do do r Title to this property was examined by: Jon Cross Any inquiries should be directed to one of the title officers set forth in Schedule A. JMC/can/9775O V /o0 30 .30 /00 f3f8.14 - 44 6 /0 /0o 0 -5 ? 0 //� 1 44 l ' • �o 9 0 /Z6 - 15CD ( : o0C p� z 3/.79 oa3 , X 00 o (o l Ott 13o.17- o N 23{,sS m 0 • it•105 43 ' O 0 N \ O 7 , a 2 a . 0 oL m b 3 h 0 . 4 /oo J Y o1 ,n 144 ' h�9v d �c10 K /oo AI � j3 I2 /7 h b a^ r0 o 1:9 b5� o10 3 4 5 a4 44 s4 °7 /oo 30 zo°i• 66 D 73 7.07 S. THIRD ST -- -- /3 �3CD LVE. Z 44- (n 'f4 40 h`o 44 44 so S-0. ¢ NZ / 3c -30 5 •¢ 3 2 / r 0 �s° yah 4Y0 J ia4 44 4 ¢c X40 > 0� D� 01� NQ RI` I- 0 o /Zop p /Zo / /Zo ti 7 �0s A$ 8 :Abp,�'{ �0�3 ��' 8 4)60 0 IBS° > D K) 000 00 Cr o o > 9 ��^I' ASO O 0 Ld 9 "S 0 ? 150586 0 �4 � U C9 P��CIFIC NTORTI I��QST TITLE CO�iPANY NOR Ak - A. Fb merl-v Steal"'Cart Title COj1lpCllll' . Order �'�°.— ) �} � � IMPORTANT: This is not a Plat of Survey. 1: is furnished as a con�eniencz to locate the land indicated hereon %pith reference to streets and other land. No liability is assumed by reason of reliance hereon. soul LAND SALE NO. 1 Location Data Location: 400 Block Williams Avenue South City: Renton County: King State/Zip: Washington Assessor's Parcel No(s): 723150-2455,-2465, -2450 Atlas Reference: 656-C3 Physical Data Type: Commercial Sale Land Area: Gross Usable Acres: 0.40 0.40 Square Feet: 17,250 17,250 Topography: Level, At Street Grade Shape: Rectangular Utilities: All Needed Zoning: MFU, Renton Allowable Building Area: N/A Floor Area Ratio: N/A No. of units: N/A Frontage: 150.00 Max FAR: N/A Sale Data Transaction Type: Listing Date of Transaction: 07/97 Marketing Time: N/A Grantor: Renton Family Practice and Manfred Laband Grantee: N/A Document No.: N/A Sale Price: $210,000 Financing: Cash to Seller Cash Equivalent Price: $210,000 Required Capital Cost: N/A Adjusted Sale Price: $210,000 Verification: Stanley Piha, Listing Agent Analysis Use At Sale: Vacant Land Proposed Use or Development: Possibly Future Mult Price Per Acre: $530,295 Price Per Square Foot of Land Area: $12.17 Price Per Unit: N/A Price Per Square Foot of Building: N/A Comments Just sounf of the Renton Central Business District core, and immediately north of the Renton Family Practice building. Received one offer at$135,000, or$7.83 per square foot, which the seller rejected. Seller is now trying to coordinate a smaller scale high density multi-family project, but mitigation costs may be prohibitive as utilities need to be brought down Williams from Fourth Avenue. 400 BLOCK WILLIAMS LAND SALE NO. 2 Location Data Location: 233 Burnett Avenue South City: Renton County: King State/Zip: Washington 98055 Assessor's Parcel No(s): 569600-0055 Atlas Reference: 656-C2 Physical Data Type: Commercial Sale Land Area: Gross Usable Acres: 0.90 0.90 Square Feet: 39,361 39,361 Topography: Level, At Street Grade Shape: Rectangular Utilities: All Needed Zoning: CD, Renton Allowable Building Area: N/A Floor Area Ratio: N/A No. of units: N/A Frontage: N/A Max FAR: N/A Sale Data Transaction Type: Sale Date of Transaction: 05/97 Marketing Time: N/A Grantor: John P. Lyrette, Jr. Grantee: City of Renton Document No.: 970502-0406 Sale Price: $1,000,000 Financing: Cash to Seller Cash Equivalent Price: $1,000,000 Required Capital Cost: N/A Adjusted Sale Price: $1,000,000 Verification: Tom Boyns, City Of Renton Analysis Use At Sale: Vacant Auto Dealersh Proposed Use or Development: Redevelop With City Price Per Acre: $1,106,679 Price Per Square Foot of Land Area: $25.41 Price Per Unit: N/A Price Per Square Foot of Building: N/A Comments The property was improved at sale with the vacant Sound Mazda building, with an effective age of 1948, and a building area of 23,740 square feet. While the City of Renton planned to demolish the building in favor of developing a park. We believe shell value remained to the improvements. We deduct the value of the improvements at$500,000, or$21.06 per square foot - a reasonable shell value in this market. The residual land price at $12.70 per squre foot is our analysis price. 233 BURNETT AVE S LAND SALE NO. 3 Location Data Location: 120 Logan Avenue South City: Renton County: King State/Zip: Washington Assessor's Parcel No(s): 569600-0180 Atlas Reference: 656-C2 Physical Data Type: Commercial Sale Land Area: Gross Usable Acres: 0.11 0.11 Square Feet: 4,787 4,787 Topography: Level, At Street Grade Shape: Rectangular Utilities: All Needed Zoning: CD, City Of Renton Allowable Building Area: N/A Floor Area Ratio: N/A No. of units: N/A Frontage: 50.00 Max FAR: N/A Sale Data Transaction Type: Sale Date of Transaction: 01/97 Marketing Time: N/A Grantor: Warren and Ann Parkhurst Grantee: Robert and Lisa Winston Document No.: 970127-1149 Sale Price: $35,000 Financing: Cash to Seller Cash Equivalent Price: $35,000 Required Capital Cost: N/A Adjusted Sale Price: $35,000 Verification: Public Records Analysis Use At Sale: N/A Proposed Use or Development: Hold For Development Price Per Acre: $318,487 Price Per Square Foot of Land Area: $7.31 Price Per Unit: N/A Price Per Square Foot of Building: N/A Comments 120 LOGAN AVE S LAND SALE NO. 4 Location Data Location: 501 S.W. Seventh Street City: Renton County: King State/Zip: Washington 98055 Assessor's Parcel No(s): 192305-9092;915460-0005;017 Atlas Reference: 656-13/3 Physical Data Type: Commercial Sale Land Area: Gross Usable Acres: 1.50 1.50 Square Feet: 65,295 65,295 Topography: Level, At Street Grade Shape: Irregular Utilities: All Needed Zoning: CA, Renton Allowable Building Area: N/A Floor Area Ratio: N/A No. of units: N/A Frontage: N/A Max FAR: N/A Sale Data Transaction Type: Sale Date of Transaction: 12/96 Marketing Time: N/A Grantor: Puget Western, Inc. Grantee: Renton Fuel Co. LLC Document No.: 961231-2140 Sale Price: $838,442 Financing: Cash to Seller Cash Equivalent Price: $838,442 Required Capital Cost: N/A Adjusted Sale Price: $838,442 Verification: Michael Catt, Selling Broker, Andover Analysis Use At Sale: Vacant Land Proposed Use or Development: Jiffy Lube and Car W Price Per Acre: $559,346 Price Per Square Foot of Land Area: $12.84 Price Per Unit: N/A Price Per Square Foot of Building: N/A Comments Site remains vacant, but is a well-located corner parcel with frontage on Talbot and Grady. 501 SW 7TH ST LAND SALE NO. 5 Location Data Location: South side of Grady Way, between 12th and 13th Streets and Lind Avenue City: Renton County: King State/Zip: Washington 98055 Assessor's Parcel No(s): 334040-3730,3775,4085,4360 Atlas Reference: N/A Physical Data Type: Commercial Sale Land Area: Gross Usable Acres: 3.09 3.09 Square Feet: 134,641 134,641 Topography: Generally Level Shape: Utilities: All Needed Zoning: CA, City Of Renton Allowable Building Area: N/A Floor Area Ratio: N/A No. of units: N/A Frontage: N/A Max FAR: N/A Sale Data Transaction Type: Sale Date of Transaction: 08/95 Marketing Time: N/A Grantor: Various Grantee: Sheridan Properties Document No.: 950811-1415 Sale Price: $2,002,016 Financing: Cash to Seller Cash Equivalent Price: $2,002,016 Required Capital Cost: N/A Adjusted Sale Price: $2,002,016 Verification: Michael Catt, Selling Broker Analysis Use At Sale: Generally Vacant Proposed Use or Development: Good Chev. Dealershi Price Per Acre: $647,706 Price Per Square Foot of Land Area: $14.87 Price Per Unit: N/A Price Per Square Foot of Building: N/A Comments Desirable and high visibility site fronting Grady Way. S/S GRADY WAY/LIND LAND SALE NO. 6 Location Data Location: Burnett, Logan and Moms Avenues South City: Renton County: King State/Zip: Washington 98055 Assessor's Parcel No(s): 783930-0305,0315;784180-003 Atlas Reference: 656-C3 Physical Data Type: Commercial Sale Land Area: Gross Usable Acres: 2.36 2.36 Square Feet: 102,659 102,659 Topography: Generally Level Shape: Rectangular Utilities: All Needed Zoning: CD, City Of Renton Allowable Building Area: N/A Floor Area Ratio: N/A No. of units: N/A Frontage: N/A Max FAR: N/A Sale Data Transaction Type: Sale Date of Transaction: 07/95 Marketing Time: N/A Grantor: Various Grantee: City of Renton Document No.: 950707-1003 Sale Price: $900,000 Financing Cash to Seller Cash Equivalent Price: $900,000 Required Capital Cost: N/A Adjusted Sale Price: $900,000 Verification: Tom Boyns, City Of Renton Analysis Use At Sale: Car Lots Proposed Use or Development: City Parks,transit C Price Per Acre: $381,885 Price Per Square Foot of Land Area: $8.77 Price Per Unit: N/A Price Per Square Foot of Building: N/A Comments City of Renton is in process of selling a site fronting Logan Avenue South to Dally Homes for multi-family development. BURNETTLOGAN ti Y House Sale No. 1 Address: 430 Whitworth Avenue South Renton, Washington Sale Date: March 3. 1997 Sale Price: $105,000 Sale Price/SF $69.08 Buyer: Cheryl & Michael Ogle Seller: Beverly Richardson • Recording No 970303-0249 Year Built: 1920 Square Feet: 1,520 Bedrooms: 4 Baths: 1 Lot Size: 4,800 SF Zoning: CD Condition: Good WAES.M& VALUATION.ADVISORY SERVICES i s do r ... 3 House Sale No. 2 Address: 215 Whitworth Avenue South r Renton, Washington Sale Date July 11, 1996 Sale Price: $180,000 w Sale Price/SF $116.88 Buyer: Beverly Ann Blackwell Seller: James Duff Recording No. . 960711-0833 Year Built: 1930 • Square Feet: 1,540 Bedrooms' 3 Baths 1.5 Lot Size- 13,917 SF Zoning: CD Condition: Very Good do W LD© go VALUATION ADVISORY SERVICES do r S - I = I House Sale No. 3 Address 440 Smithers Avenue South Renton, Washington Sale Date: June 28, 1996 Sale Price: $114,950 Sale Price/SF $80.95 Buyer: Ezequiel & Inocenci Castaneda Seller: Audrey Williams • Recording No. 960628-2789 Year Built: 1903 Square Feet: 1,420 �. Bedrooms: 4 Baths: 1 Lot Size. 4,800 SF .. Zoning: MF-U Condition: Good do wAVicEFI�ESD © VALUATION ADVISORY SERVICES 4 t 1 y • A House Sale No. 4 Address: 426 Burnett Avenue South Renton, Washington Sale Date March 1, 1996 Sale Price: $114,950 Sale Price/SF: $75.13 Buyer: John Walburn A Seller: Kenneth Benoschek Recording No. 960301-0707 Year Built: 1910 Square Feet 1,530 Bedrooms: 4 Baths. 1 Lot Size: 6,000 SF �• Zoning: MF-U Condition: Very Good VALUATION ADVISORY SERVICES OFFICE BUILDING SALE NO. 1 Location Data Property Name: Location: 410 Burnett Avenue South City: Renton County: King State/Zip: Washington 98055 Assessor's Parcel No(s): 723150-2387 Atlas Reference: 656-C3 Physical Data Type: Mixed Use Land Area: 0.150 Acres Zoning: MFU, Renton Gross Building Area: 4,800 SF Net Rentable Area: 3,350 SF Usable Building Area: N/A Year Built: 1950 #of Stories: Two Parking: 5 spaces Condition: Good Exterior Walls: Wood Siding Amenities: N/A Class: N/A Sale Data Transaction Type: Sale Date of Transaction: 01/95 Marketing Time: 9 months Grantor: William Beeks, Jr. Grantee: Gene and Huong Sens Document No.: 950117-0748 Sale Price: $220,000 Financing. Cash to Seller Cash Equivalent Price: $220,000 Required Capital Cost: $0 Adjusted Sale Price: $220,000 Verification: Gene Sens, Buyer Financial Data Assumptions & Forecast: N/A Occupancy at Sale: N/A Existing or Pro Forma Income: N/A TOTAL P.S.F. Potential Gross Income: N/A N/A Vacancy and Credit Loss: N/A N/A Effective Gross Income: N/A N/A Expenses: N/A N/A Net Operating Income: N/A N/A 410 BURNETT AVE OFFICE BUILDING SALE NO. 1 Analysis Value Indicators. Overall Capitalization Rate (OAR). N/A % Projected IRR: N/A % Effective Gross Multiplier(EGIM) N/A Operating Expense Ratio (OER). N/A % i Price Per Square Foot: $65.67 Comments Aw m y iiiaf�ef. _ r i i do 40 dO „� 410 BURNETT AVE OFFICE BUILDING SALE NO. 2 Location Data Property Name: Cedar River Microbrewery Location: (formerly Puget Sound Bank Building) 205 Williams Avenue South City: Renton County: King State/Zip: Washington Assessor's Parcel No(s): 723150-2265 Atlas Reference: 656-C2 Physical Data Type: Office Business Park Land Area: 0.480 Acres Zoning: CD, City of Renton Gross Building Area: 6,270 SF Net Rentable Area: 4,770 SF Usable Building Area: N/A Year Built: 1960 #of Stories: Two Parking: 25 spaces Condition: Good Exterior Walls: Brick Veneer Amenities: N/A Class: N/A Sale Data Transaction Type: Sale Date of Transaction: 02/96 Marketing Time: 9 months Grantor: Key Bank Grantee: CB Renton Partnership Document No.: 960220-0938 Rec. Date:02/20/96 Sale Price: $354,555 Financing: Cash to Seller Cash Equivalent Price: $354,555 Required Capital Cost: $0 Adjusted Sale Price: $354,555 Verification: Ron Peterson, Key Bank Financial Data Assumptions & Forecast: N/A Occupancy at Sale; N/A Existing or Pro Forma Income: N/A TOTAL P.S.F. Potential Gross Income: N/A N/A Vacancy and Credit Loss: N/A N/A Effective Gross Income: N/A N/A Expenses: N/A N/A Net Operating Income: N/A N/A CEDAR RIVER OFFICE BUILDING SALE NO. 2 Analysis Value Indicators: ,.. Overall Capitalization Rate (OAR) N/A % Projected IRR: N/A Effective Gross Multiplier (EGIM) N/A Operating Expense Ratio (OER): N/A% Price Per Square Foot $74.33 Comments Key Bank acquired this former Puget Sound Bank and acted as the seller in this transaction. This property has recently been converted to the Cedar River Microbrewery. It was previously acquired by Puget Sound Bank from . Washington Mutual for$535,000. y i ,,h• 1 i.._ do 40 a. do CEDAR RIVER OFFICE BUILDING SALE NO. 3 Location Data Property Name: Midtown Building Location: 226 Williams Avenue South City: Renton County: King State/Zip: Washington 98055 Assessor's Parcel No(s): 723150-1850 Atlas Reference: 656-C2 Physical Data Type: Land Area: 0.510 Acres Zoning: CD, Renton Gross Building Area: 11,200 SF Net Rentable Area: 7,710 SF Usable Building Area: N/A Year Built: 1954 #of Stories: Two Parking: 25 spaces Condition: Good Exterior Walls: Brick Veneer Amenities: N/A Class: N/A Sale Data Transaction Type: Sale Date of Transaction: 06/97 Marketing Time: 12 months Grantor: Tom and Mariam Holt Grantee: Tuyenl Pham Document No.: N/A Rec. Date:06/10/97 Sale Price: $573,000 Financing: Cash to Seller Cash Equivalent Price: $573,000 Required Capital Cost: $0 Adjusted Sale Price: $573,000 Verification: Mike Catt, Selling Broker Financial Data Assumptions & Forecast: N/A Occupancy at Sale: 94 Existing or Pro Forma Income: N/A TOTAL P,S.F. Potential Gross Income: $92,040 $11.94 Vacancy and Credit Loss: $4,602 $0.60 Effective Gross Income: $87,438 $11.34 Expenses: $33,400 $4.33 Net Operating Income: $54,038 $7.01 MIDTOWN OFFICE BUILDING SALE NO. 3 Analysis Value Indicators: Overall Capitalization Rate (OAR): 9.43 % Projected IRR: N/A% Effective Gross Multiplier(EGIM): 6.55 Operating Expense Ratio (OER): 38.20 % Price Per Square Foot: $74.32 Comments This building was under contract at$575,000 in May 1996. The deal flipped, and was not sold until June 1996 at $573,000. x f s r r+ r MIDTOWN i i RENT COMPARISON NO. 1 i i i i i Name: Old Cedar River Antique Mall s Location: 23 Wells Avenue South Renton, Washington Year Built: 1920 .. Size: 4,260 square feet (rentable) Asking Rate: Of the 3,200 square feet of office space, approximately 2,000 square feet is available, a portion of it leased for $4.50 per square foot, with the owner asking $4.50 per square foot for the remainder. The owner indicates the .. lease rate just covers his expenses for the space and is working with tenants in making the leases triple net, though at the present time they are fully serviced. 40 Confirmation: Owner, (206) 255-2424 .o i r RENT COMPARISON NO. 2 r LL -t_ i do Name. 212 Building Location: 212 Wells Avenue South do Renton, Washington Year Built: 1946/1960 as Size: 7,764 square feet Asking Rate: Currently asking $12.00 per square foot per year, fully "' serviced, with expenses at approximately $4.50 per square foot per year. Current leases range from $10.00 to $12.00 per square foot annually, with lease terms to typically between 1 and 3 years. Confirmation: Owner, (206) 255-2424 Aw Comments: •• This building has ground level retail. .. Am .. do RENT COMPARISON NO. 3 40 ,. Name: Century 321 Building Location: 321 Bernette Avenue South Renton, Washongton Year Built: 1980 Size: 3,850 square feet Asking Rate: This is a condominiumized office complex, with four • owners in the 3,850 square foot building. Farmer's Insurance subleases some space for $12.00 per square foot per year, fully serviced, with expense information unavailable. Confirmation: Confidential Comments: •. This is a good quality brick building in an interior location; one block south of the subject. a 4W AW RENT COMPARISON NO. 4 INI � s ��. p pp1EA p1EA - �. Name: Midtown Building Location: 226 Willimas Avenue South Year Built: 1954 Size: 7,710 square feet (rentable) Asking Rate: Recent leases have been signed from $8 to $13.25 per square foot on a full service baiss. Espenses are just over $4.25 per square foot. Confirmation: Mike Catt, Selling broker Comments: This is an average quality brick two story office building in an interior location. QUALIFICATIONS Valerie A. Foster, MAI Professional Affiliations: Member of the Appraisal Institute (MAI Designation #10,800). Washington State Certified General Appraiser(#FOSTEVA310BD). Real Estate Experience: Senior Appraiser, Cushman & Wakefield of Washington, Inc., Valuation Advisory Services, a full service real estate organization specializing in appraisal and consultation. 1995 to present. Staff Appraiser, Wronsky Gibbons & Riely, P.L.L.C./Shorett & Riely, Seattle, Washington. 1991 to 1995. Property Manager, 20-Unit Belcourt Place Condominiums. 1994. Property Manager, 50-Unit SRO, Seattle, Washington. 1991. Properties Appraised Include Office, Industrial, Condominiums, Apartments, Retail Centers, Mixed Use Developments, Restaurants, Residential Subdivisions, Vacant Land, Port Facilities, Various Portfolio Valuations, Condemnation Assignments, and Preparation of Documentation for Testimony. Purpose of Appraisals - Sale, Financing, Acquisition, Portfolio Analysis, Syndication, Securities Filings, Merger and Acquisition. Types of Consulting Projects - Feasibility Analysis for Apartment Conversion to Condominiums, Density Determination for Residential Housing, Lease Arbitration. Education: MBA Candidate, University of Washington, Seattle BA in Business (Finance and Economics), 1991, University of Washington, Seattle Courses and Seminars: 7th Annual Conference on Pension Fund Investment in Real Estate, New York University School of Continuing Education, March 1996 Qualifications Valerie A. Foster Appraisal Institute Courses: Real Estate Appraisal Principles Real Estate Appraisal Procedures Standards of Professional Practice, Parts A and B Capitalization Theory and Techniques, Parts A and B Report Writing and Valuation Analysis Advanced Applications Publications and Awards: Member, Board of Directors, Appraisal Institute, Seattle Chapter, 1995. Education Committee, Appraisal Institute, Seattle Chapter, 1993;1996. Discussion Leader, Young Advisory Council, Appraisal Institute, National, 1997. t QUALIFICATIONS Kenneth A. Barnes, MAI Professional Affiliations: Member of the Appraisal Institute (MAI Designation No. 8294) Washington State Certified General Appraiser(#BARNEKA40203) Real Estate Experience: Director, Manager, Cushman & Wakefield of Washington, Inc., Valuation Advisory Services, a full service real estate organization specializing in appraisal and consultation. 1989 to present. Assistant Director of Appraisal, Great Lakes Real Estate Corporation, Glenview, Illinois. 1988 to 1989. Self Employed Appraiser, Chicago, Illinois. 1987 to 1988. Appraiser, Real Estate Research Corporation, Chicago, Illinois. 1985 to 1987. Staff Appraiser, Moore & Shryock, Columbia, Missouri. 1984 to 1985. Properties Appraised Include Office Buildings, Industrial, Condominiums, Apartments, Retail Centers, Mixed Use Developments, Restaurants, Residential Subdivisions, Vacant Land and Joint Venture Interests. Purpose of Appraisals - Sale, Financing, Acquisition, Portfolio Analysis, Syndication, Securities Filings, Merger and Acquisition. Types of Consulting Projects - Feasibility and Market Studies for Development and Renovation of Shopping Centers, Hotels, Apartments, Acquisition Analysis of Vacant Land, Office Buildings. Education: Bachelor of Science (Biochemistry), 1982 University of Missouri, Columbia Master of Business Administration (Finance), 1988 University of Chicago Qualifications Kenneth A. Barnes, MAI Publications and Awards: Rental Concessions and Value" The Appraisal Journal, April 1986. 1985 Manuscript Competition Winner. "Discounting Equity Cash Flow Subject to Conventional and Participating Debt" The Appraisal Journal, April 1987. "Real Estate Investment Survey: First Quarter 1987" Real Estate Report, First Quarter 1987. With Janet Nutting, "Proforma Pitfalls: Interpreting Financial Projections in Today's Uncertain Market" Real Estate Report, First Quarter 1987. "Real Rates: Judging Discount Rates and Inflation Hedges" The Appraisal Journal, January 1990.