HomeMy WebLinkAboutRES 2666 CITY OF RENTON, WASHINGTON
RESOLUTION NO. 2666
A RESOLUTION OF THE CITY OF RENTON, WASHINGTON,
AUTHORIZING THE SALE OF THE MOTHER'S PARK
PROPERTY TO EUGENE HORBACH, D/B/A E. & H.
PROPERTIES
WHEREAS, the City Council has heretofore indicated its
intention to sell the Mother' s Park property and to use the proceeds
of that sale for construction of the Community Center; and
WHEREAS the City has now successfully negotiated a Purchase
and Sale Agreement for the sale of the Mother' s Park property (as
described on Attachment "A" ) to Eugene Horbach, doing business as
E. & H. Properties, for a purchase price of $1,235,700 .00, together
with a binding commitment requiring a cash contribution to the City
in the sum of $216,250 .00 to be made one year after the date of the
closing of the sale. The purchase price is to be paid in a down
payment of 20% of the purchase price, with the balance to be paid
in quarterly installments of interest only at the rate of 8% per
annum until December 31, 1989 when the entire balance and unpaid
interest shall be paid in full; and
WHEREAS it appears to be in the best interest of the City
to sell the Mother' s Park property and to apply the proceeds of
the sale to the development and construction of the Community Center;
NOW, THEREFORE,
THE CITY COUNCIL OF THE CITY OF RENTON, WASHINGTON RESOLVES
AS FOLLOWS:
SECTION I: The above recitals are true and correct in
all respects.
-1-
RESOLUTION NO. 2666
SECTION II: The Mayor and the City Clerk are authorized
to sign the Real Estate Contract and Fulfillment Deed, and all other
documents deemed reasonably necessary for the negotiation and
closing of the sale of the Mother' s Park property to Eugene Horbach,
doing business as E. & H. Property for a purchase price of
$1,235,700 .00, together with the charitable contribution of $216,250 .00 ,
all in accordance with the Purchase and Sale Agreement dated
November 5, 1986 and the Addenda thereto dated December 19 , 1986 .
PASSED BY THE CITY COUNCIL this 22nd day of December, 1986
e U X4C2�
Maxine E. Motor, City Clerk
APPROVED BY THE MAYOR this 22nd day of December, 1986 .
Barbara Y. Shinpoc , Mayor
Approved as to form:
Lawrence J. WarreW City Attorney
-2-
a
SCHEDULE 1 - DESCRIPTION
.� OF PRApF'Z2Ty
ATTACHMENT "A"
That portion of the Northwest Quarter of the Southwest
Quarter of Section 8, Township 23 Horth, Range 5 East, in
King County, liashington, described as follows:
COVV4ENCING at the point of intersection of the Northerly
line.. of said subdivision with the Northerly production of the
Westerly margin of Park Avenue North as shown in RENIVI FARM PLAT,
according to the plat recorded in Volume 10 of Plats, Page 97, in
King County, Washington;
Thence Southerly along said margin as produces: to a point
thereon which is 715 feet North of the Southerly line of said sub-
division, and the TRUE POINT OF BEGINNING;
Thence West parallel to and a distance of 715 feet North
of the South line of said subdivision to the Northerly production
of the centerline of Polly Avenue North (Polly Street) as shown in
RENTON FARM PLAT NO. 2, according to the plat recorded in Volume 11
Of Plats, Page 32, ill King County, Washington;
Thence Southerly along said produced centerline to a point
on the Northerly margin of North Gth Street (6th Avenue North)
which is 30 feet North of the centerline of said North 6th Street;
Thence Easterly along said Northerly margin to the Westerly
margin of said Park Avenue North;
Thence Northerly along said Westerly margin to the TRUE
• POINT OF BEGINNING;
EXCEPT the South 185 feet of the East 107.5 feet thereof
as conveyed to Wesoc Corporation by deed recorded under King
County Recording No. .4970240.
EXCEPT the South 10 feet thereof as conveyed to the City of
Renton for roadway purposes by deed recorded under King County
Recording tio. 8609111671.
SUBJECT TO a' utility easement over, across and under
the Westerly 15 feet, and water transmission easement over, across
and under the Southerly 15 feet of the Northerly 135.5 feet of said
property.
SUBJECT to a transmission line casement as recorded under
King County Recording No. 8107240568.