HomeMy WebLinkAboutA 8810070183 ' • , . . � , ' • . ' 1
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LEASE AGREEMENT WITFi OPTION '
TO PURCHASE � s �. �:;°;Li "�.�=�=€��� '
THIS AGRFEMENT is made between ALMA LUNDBERG, ROBERT M. BURKE,
and ELLEN HICKOK ( collectively referred to as "Lessor" ) and THE CITY
OF RENTON, a Washington municipal corporation , ( "Lessee" ) .
RECITALS OF FACT
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b 1. Alma Lundberg is the owner of the following described real
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Oproperty (hereinafter referred to as "Parcel A" ) :
� The south 25 feet of Lot 3 , and the North 37. 5 feet of Lot
....
� 4, Block 10 , Town of Renton, recorded in Voluzne 1 of plats ,
page 135 , records of King County, less alley.
2. Robert M. Burke is the owner of the following described real
property (hereinafter referred to as "Parcel B" ) :
Lot 6 , Block 10, Town of Renton, recorded in Volume 1 of � '
plats, page 135 , records of King Count , less alley. j
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3. Ellen Hickok is the owner of�the following described real
property (hereinafter referred to as "Parcel C" ) : �+u.e� �/v�lri W. ����
£� a��c�yJ�.�92 ��r�p mcr��i ��'l��2 '"�1f2Qin���� I
The south 12 . 5 feet of Lot 4, and all of Lot 5, Town of
Renton, recorded in Volume 1 of plats, page 135 , records of
King County, less alley.
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AGREEMENT �;Etw�:� � k f z ��,�f
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In consideration of the mutual covenants contained herein, ��e
parties agree as follows : �!
1. TERM AND RENTAL: Lessor leases to Lessee and Lessee leases
from Lessor the above-described parcels of real property ( the
"premises" ) , located in Renton, King County, Washington, for a term
commencing on January 1, 1989, and te.raninating on December 31, 1993,
or until closing of the sale of the premises contemplated by the option
LEASE AGREEMENT WITH �f�E� ��� ������ A� REQUEST Of
OPTION TO PURCHASE - 1 OFfICE OF TNE CITy CLERK
RENTON N�IN�I�AL B�D6, i
200 Mtll AYE S0. '
RENTON,WA 9�5
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to purchase contained in this agreement, whichever c�ate shall first
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'� occur. In the event that Lessee remains in possession of the premises ,
after the expiration of this term, Lessee shall be deemed to be '
� occupying the premises as a tenant on a month-to-month basis, subject 'I
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p to all the conditions, provisions and obligations of this Lease.
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o Lessee agrees to pay monthly rental of One Hundred Fifty Dollars
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� ( 5150. 00 ) to each Lessor for their respective parcel in advance on the
first day of each month.
2. PURPOSE: The premises shall be used for municipal purposes. �'I
The premises shall not be used for any illegal or immoral purposes.
3 . MAINTENANCE: Lessee accepts the premises in their present
condition and hereby agrees that Lessor or their agents shall not be ',
' held liable for any damages to the property or personal injuries caused ',
by any defects now in the premises or hereafter occurring . Lessee I
agrees to keep the premises at all times, and at the end of the term
to deliver and surrender the premises to the Lessor in as good order
and condition as the premises are now, or may at any time hereafter be
put in by Lessor , subject only to reasonable wear and tear occurring
without fault on the part of the Lessee. As additional partial ,
consideration for this lease, Lessee shall , prior to the termination '
' of this lease, demolish, at its own expense, the improvements presently
existing on Parcel "C" . '
4. DEFAULT: If Lessee defaults in making any payments required
by this Agreement, or in carrying out any of the obligations of this
Agreement or under law, and the Lessor obtains the services of an
attorney ar agent with respect to the remedying thereof, the Lessee
LEASE AGREEMENT WITH
OPTION TO PURCHASE - 2
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agrees to pay to the Lessor any costs or fees of any kind incurred by !,
the Lessee, including reasonable attorney' s fees, notwithstanding the
fact that a suit has not been instituted . If a suit is instituted , the
Lessee shall also pay the costs of the suit.
5. UTILITIES/INSURANCE: Lessee agrees to pay for all water ,
M as, heat, li ht
Cp g g , power , telephone service and any and all other
� utilities services supplied to the premises. Lessee shall maintain
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O casualty insurance coverage on the premises.
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� 6. OPTION TO PURCHASE: In consideration of the execution of
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the foregoing lease, Lessor grants unto Lessee an option to purchase '
the premises described in Paragraph 1 above upon the following terms I
and conditions. �
6. 1 Exercise. This option may be exercised at any time prior to '
January 31, 1994, which shall be the termination date of this option. ',
Notice of exercise shall be in writing and be delivered to Lessor by I�,
personal service, with written receipt therefor , or by certified mail , '
return receipt requested, addressed to Lessor' s address below. '
6. 2 Purchase Price: In the event of exercise of the option on
or before December 31, 1991 the purchase price shall be $9. 50 per
square foot payable in cash. In the event of the exercise of the �I
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I option after December 31, 1991, the purchase price shall be $10. 50 per
� square foot payable in cash. ,
6.3 Title : Title to the premises shall be free of encumbrances '
or defects except encumbrances, restrictions and reservation of record.
Rights reserved in Federal Patents or State Deeds, building or use
restrictions general to the district, existing easements not
LEASE AGREEMENT WITH
OPTION TO PURCHASE - 3
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inconsistent with the intended use of the restricted parcels, and I
building or zoning regulations or provisions shall not be deemed
encumbrances or defects. The title insurance policy to be issued shall
� contain no exceptions other than those provided in the stanclard form
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� plus the defects noted in this paragraph. If title is not so insurable
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p as above provided and cannot be made so insurable by the termination
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� date set forth herein, this Agreement shall be terminated .
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6.4 Conveyance: Transfer of Lessor' s interest in the premises
shall be by Statutory Warranty Deed.
6. 5 Closing : This purchase shall be closed in the office of
Warren, Kellogg, Barber , Dean & Fontes, P.S. , Attorneys at Law, within
30 days after exercise of the option, but in any event not later than
January 31, 1994, 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. All costs of closing shall be paid by the Lessee.
6. 6 Possession : Lessor shall deliver possession to Lessee on
date of closing.
6. 7 Condition of Property: The Lessee agrees to accept the
premises as is, in their present condition, on the terms noted herein.
6. 8 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.
LEASE AGREEMENT WITH
OPTION TO PURCHASE - 4
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6. 9 Miscellaneous : There are no verbal or other agreements which
modify or effect this Agreement. Time is of the essence of this �
Agreement. The Lessors agree to hold harmless and indemnify Lessee
frozn any obligation for a real estate commission with respect to this
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°� transaction. Lessor has been represented by John Tharp, real estate
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Obroker. Notices given under this Agreement shall be in writing and
� shall be delivered personally with written receipt therefor , or sent
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� by certified mail , return receipt requested , to the following
addresses:
Lessor :
C/O John Tharp
423 South Third
Renton, WA 98055
Lessee:
200 Mill Avenue South
Renton, WA 98055
DATED: � � , 1988
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Lessor : � Lessee:
The City of Renton
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Earl � ymer , Ma
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�`'��� � By � io- �8�(
, Maxine Motor , City Cler �
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LEASE AGREEMENT WITH
OPTION TO PURCHASE - 5
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STATE OF WASHINGTON )
) ss
COUNTY OF KING )
I certify that I know or have satisfactory evidence that ALMA
LUNDBERG signed this instrument and acknowledged it to be her fre_e 'arid�
voluntary act for the uses and purposes mentioned in the instr�ument:- ' `
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i DATED: c�$ /"� � , 1988. t, � _ _ -� � � ` ,
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c�0 �., r , " �; �= . `�
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0 Notary Public in and for the S te
� of Washington, residing at 1 h.1 � .
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0 My appointment expires: �
� STATE OF WASHINGTON ) �,
c0 ) ss '
COUNTY OF KING ) ',
I certify that I know or have satisfactory evidence that ROBERT ,
M. BURKE and ALBERTA M. BURKE signed this instrument and acknowledged '
it to be their free and voluntar act for the uses and ur oses '
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� mentioned in the instrument. - �
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DATED: ,3�1�y1 �'� , 1988. � - �� - _ I
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Notary Public in and for the tate
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of Washington, residing at �
My appointment expires: 'Z1.
STATE OF WASHINGTON )
) ss
I COUNTY OF KING )
I certify that I know or have satisfactory evidence that ELLEN
HICKOK signed this instrument and acknowledged it to be her free an'd _ ,
voluntary act for the uses and purposes mentioned in the instrument. = ,
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DATED: -� � `; 1988. - � ' _
.
� � � ` -� _
Notary Public in and for th S �ate
of Washington, residing at \Y`lC
My appointment expires: � ,
LEASE AGREEMENT WITH
OPTION TO PURCHASE - 6
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STATE OF WASHINGTON )
) ss
COUNTY OF KII�1G )
I certify that I know or have satisfactory evidence that JOHN �
THARP and JEANENE THARP signed this instrument and acknowledged it to
be their free and voluntary act for the uses and purposes mentioned.'•in� -
the instrument. - ` - '
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�,,.� DATED: �� � , 1988. � - ` �` £,: - �,
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. � Notary ubl c in and or t State �
p of Washington, residing at .
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� Niy appointment expires: � � �' �
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LEASE AGREEMENT WITH
OPTIOIV TO PURCHASE - 7