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HomeMy WebLinkAboutL_Title Report_SunsetWCF_200108_v1.pdfFidelity National Title Insurance Company COMMITMENT FOR TITLE INSURANCE SCHEDULE "A" Commitment Number: CRC-1205459-C Effective Date of Commitment: September 25, 2018 Customer: 816039D Prepared For: Purchaser with contractual rights under a purchase agreement with the vested owner identified at Item 3 below Inquiries Should Be Directed To:Solidifi Title Agency, LLC. 127 John Clarke Road 1. Policy or Policies to be issued: A.ALTA OWNERS POLICY 2006 Amount:TBD and to be agreed upon by the company Proposed INSURED: Purchaser with contractual rights under a purchase agreement with the vested owner identified at Item 3 below 2. The estate or interest in the land described or referred to in the Commitment and covered herein is FEE SIMPLE. 3. Title to said estate or interest in said land is at the effective date hereof vested in: City of Renton 4. The land referred to in this Commitment is situated in the County of King, State of WA, and is described as follows: See Exhibit "A" Attached Countersigned: Valid Only If Schedule B and Cover Are Attached RECEIVED 01/08/2020 amorganroth PLANNING DIVISION Fidelity National Title Insurance Company COMMITMENT FOR TITLE INSURANCE SCHEDULE B- SECTION I The following are the requirements to be complied with: 1.The Company must be furnished proof of payment of all real property taxes and assessments that are due and payable. Type of Tax: County For the period: 2018 In the amount of: $13,082.45 (est) Tax parcel ID: 7227802040 Date Due: $26.20 paid April 1, 2018 $13,056.25 is due October 1, 2018. Interest and penalties may accrue. 2.Payment of the full consideration to, or for the account of, the grantors or mortgagors. 3.Any and all unpaid taxes, assessments, water charges, sewer rents, interest, and penalties thereon and sales thereof, if any, that guaranteed tax search might disclose or upon proof of payment of the above exception will be removed. 4.Satisfactory evidence should be had that improvements and/or repairs or alterations thereto are completed; that contractor, subcontractors, labor, and material men are all paid. 5.Instruments satisfactory to create the estate or interest to be Insured must be properly executed (see Document(s) Requirement Note below), delivered and duly filed for record, including any Recorder of Deeds' or Clerks' required Cover Sheets, Affidavits or Forms: Easement from City of Renton to Purchaser with contractual rights under a purchase agreement with the vested owner identified at Item 3 below. 6.The nature of the transaction to be insured herein must be disclosed to the company prior to the closing. Title may be subject to the additional exceptions as may be appropriate after disclosure of the type of transaction. 7.Compliance with Foreign Investment in Real Property Tax Act of 1980, Section 1445 and 897 of the IRS Code and related Treasury regulations. 8.To delete the Standard Exceptions from the policy, the company requires an ALTA Survey and executed Owner's Affidavit. 9.Except in an exempt transaction, the company must be furnished with the seller's social security number of tax identification number and all other information necessary to complete IRS form 1099S. 10.Obtain and record current Certificate of Municipal Liens showing all current real estate taxes, water and sewer charges paid to date in order to modify item No. 2 of Schedule B-Section 2 herein. NOTE: It is the responsibility of the seller and buyer to coordinate a final water and sewer reading within 72 hours of closing and to provide evidence of payment of the bill to omit outstanding water and sewer charges as exception in the final policy. 11.Payment of premium at applicable rates and service related fees to Fidelity National Title Insurance Company. This commitment is effective for a period of six (6) months only, and may only be relied upon by the person for whom it was prepared. SCHEDULE B – SECTION I Continued 12. Subject to review of current survey of tower site and easements prior to issuance of policy. 13. A mortgage, deed of trust or other lien instrument from City of Renton (borrower) dated March 16, 2018 and filed on March 16, 2018 in (book) 20180316001315 (instrument) 20180316001315, of the official property records of King County, Washington in the amount of $800,000.00 and in favor of Housing Authority of the City of Renton (lender). 14. For Purchaser with contractual rights under a purchase agreement with the vested owner identified at Item 3 below (hereinafter referred to as LLC): A. The Company must be provided with a copy of: a. the Articles of Organization, b. written Operating Agreement and all amendments thereto, b. current membership roster, and d. a certificate of good standing (or current registration) of LLC. B. Unless the deed, mortgage/Deed of Trust and/or other encumbrance instrument(s) is/are executed by all Members, the Company must be furnished a Resolution of all Members of the LLC approving the transaction and ratifying and confirming action taken or to be taken by the Manager(s) or Managing Member(s). C. In lieu of A and B above, certification by LLC’s attorney that LLC is a valid and subsisting limited liability company in its state of organization and that execution and delivery of the deed, mortgage/Deed of Trust and/or other encumbrance instrument(s) is/are pursuant to the terms of its operating agreement. D. Execution of any recordable document (also any Company affidavit, cover sheet, or other executed document), must include proper state of formation; and, if applicable, correctly reflect any mergers, name changes, erroneous names used or variations in title. 15. For each policy to be issued as identified in Schedule A, Item 2; the Company shall not be liable under this commitment until it receives a designation for a Proposed Insured, acceptable to the Company. As provided in Commitment Condition 4, the Company may amend this commitment to add, among other things, additional exceptions or requirements after the designation of the Proposed Insured. 16. WITH RESPECT TO CITY OF RENTON THE FOLLOWING MUST BE SUBMITTED: A.Township Vote or other document(s) showing authority of township to enter into subject lease. B.Power of attorney or other document(s) showing power of individual signing on behalf of the Township. (END OF SCHEDULE B - SECTION 1) Fidelity National Title Insurance Company COMMITMENT FOR TITLE INSURANCE SCHEDULE B - SECTION II Schedule B of the policy or policies to be issued will contain exceptions to the following matters unless the same are disposed of to the satisfaction of the Company: 1.Defects, liens, encumbrances, adverse claims or other matters, if any, created, first appearing in the public records or attaching subsequent to the Effective Date but prior to the date the proposed Insured acquires for value of record the estate or interest or mortgage thereon covered by this Commitment. 2.(a) Taxes or assessments that are not shown as existing liens by the records of any taxing authority that levies taxes or assessments on real property or by the Public Records; (b) proceedings by a public agency that may result in taxes or assessments, or notices of such proceedings, whether or not shown by the records of such agency or by the Public Records. 3.The lien of supplemental or escaped assessments of property taxes, if any. 4.Any facts, rights, interests, or claims that are not shown by the Public Records but that could be ascertained by an inspection of the Land or that may be asserted by persons in possession of the Land. 5.Easements, liens or encumbrances, or claims thereof, not shown by the Public Records. 6.Any encroachment, encumbrance, violation, variation, or adverse circumstance affecting the Title that would be disclosed by an accurate and complete land survey of the Land and not shown by the Public Records. 7.(a) Unpatented mining claims; (b) reservations or exceptions in patents or in Acts authorizing the issuance thereof; (c) water right, claims or title to water, whether or not the matters excepted under (a), (b) or (c) are shown by the Public Records, 8.Any lien or right to lien for services, labor or material not shown by the Public Records. 9.Taxes for the fiscal year 2017/2018 and subsequent years, a lien not yet due and payable. SCHEDULE B SECTION II Continued 10. Rights of fee simple owners in and to the subject property. 11. Any and all matters disclosed on Plat entitled "Old highlands Library Short Plat for City of Renton," prepared by Jason Seth, dated March 2017, recorded May 19, 2017, as Instrument No. 2017051990004. END OF EXCEPTIONS (END OF SCHEDULE B SECTION II) EXHIBIT "A" Legal Description The land referred to herein below is situated in the County of King , City of Renton, State of Washington and is described as follows: All that portion of the following described property lying North of the South right-of-way line of N.E. 12th Street, being 50 feet in width; as it now exits: That portion of that Public Use Area in Block 46, or Corrected Plat or Renton Highlands #2, as per plat recorded in volume 57 of Plats, on pages 92 thru 98, records of King County; EXCEPT the West 8.76 feet of the North 106 feet of that portion of said public use area lying East of Lot 23 of said Block 46; TOGETHER WITH the South 10 feet of the East 92.86 feet to Lot 23 of said Lot 23 of said block 46; AND TOGETHER WITH that portion of N.W. 12th Street adjoining, which upon vacation, attached to said property by operation of law. Less and Except all that property conveyed to MJS Heather, LLC from City of Renton, dated March 16, 2018, recorded March 16, 2018, as Instrument no. 20180316001313. Also Less and Except all that property conveyed to Housing Authority of the City of renton from City of Renton, dated March 16, 2018, recorded March 16, 2018, as Instrument no. 20180316001314. Parcel ID: 7227802040 This being a portion of that property conveyed to the City of Renton from Clark Rich, Inc, dated January 13, 1984, recorded February 10, 1984, as Instrument No. 198402100516. Description: King,WA Document - Year.Month.Day.DocID 2018.316.1314 Page: 1 of 3 Order: wa Comment: Description: King,WA Document - Year.Month.Day.DocID 2018.316.1314 Page: 2 of 3 Order: wa Comment: Description: King,WA Document - Year.Month.Day.DocID 2018.316.1314 Page: 3 of 3 Order: wa Comment: Description: King,WA Document - Year.Month.Day.DocID 2018.316.1313 Page: 1 of 3 Order: wa Comment: Description: King,WA Document - Year.Month.Day.DocID 2018.316.1313 Page: 2 of 3 Order: wa Comment: Description: King,WA Document - Year.Month.Day.DocID 2018.316.1313 Page: 3 of 3 Order: wa Comment: Description: King,WA Document - Year.Month.Day.DocID 1984.210.516 Page: 1 of 1 Order: wa Comment: Description: King,WA Document - Year.Month.Day.DocID 1981.917.198 Page: 1 of 1 Order: wa Comment: Description: King,WA Document - Year.Month.Day.DocID 2018.316.1315 Page: 1 of 7 Order: wa Comment: Description: King,WA Document - Year.Month.Day.DocID 2018.316.1315 Page: 2 of 7 Order: wa Comment: Description: King,WA Document - Year.Month.Day.DocID 2018.316.1315 Page: 3 of 7 Order: wa Comment: Description: King,WA Document - Year.Month.Day.DocID 2018.316.1315 Page: 4 of 7 Order: wa Comment: Description: King,WA Document - Year.Month.Day.DocID 2018.316.1315 Page: 5 of 7 Order: wa Comment: Description: King,WA Document - Year.Month.Day.DocID 2018.316.1315 Page: 6 of 7 Order: wa Comment: Description: King,WA Document - Year.Month.Day.DocID 2018.316.1315 Page: 7 of 7 Order: wa Comment: Description: King,WA Survey Map-Year Month Day DocId 2017.519.900004 Page: 1 of 3 Order: wa Comment: Description: King,WA Survey Map-Year Month Day DocId 2017.519.900004 Page: 2 of 3 Order: wa Comment: Description: King,WA Survey Map-Year Month Day DocId 2017.519.900004 Page: 3 of 3 Order: wa Comment: Page 1 of 3 CRC-1205459-C General Information Borrower Name:Crown Castle Order No:CRC-1205459- C Date:September 14, 2018 Property Address:2902 NE 12th Street, Renton, WA 98056 Parcel No: 722780204003 Property County:King County – Parcel: 722780204003 Jurisdiction:KING COUNTY Payment Notes: Phone:(206) 296-3850 Address:500 4TH AVE. ROOM 600 FINANCE DEPT. SEATTLE, WA 98104, Payment Type:Semiannual Status:Due Tax Year:2018 Annual Amount:$13,082.45 Pay To: KING COUNTY TREASURY Mail To: 500 4TH AVE. ROOM 600 FINANCE DEPT., SEATTLE, WA 98104 Taxes Out: 02/11 Assessment Info Land:$492,100.00 Improvements:$551,900.00 Exemptions:N/A Assessed Value: $1,044,000.00 Installment Estimated Amount Due Bill Date Due Date Delinquent Date Amount Paid 1 No $0.00 See Notes April 1, 2018 April 30, 2018 $26.20 2 No $13,056.25 See Notes October 1, 2018 October 31, 2018 $0.00 Total County Taxes Due: (current + delinquent)$13,056.25 If taxes are due within 60 days and the amount above is estimated, please add 12% to the amount collected at closing. Page 2 of 3 CRC-1205459-C Page 3 of 3 CRC-1205459-C Additional Tax Notes County: King On Record Property Owner: Crown Castle On Record Property Address: 2902 NE 12th Street, Renton, WA 98056 Comments: All parcels pertaining to this address have been searched. Note: We have made every effort to ensure the accuracy of this tax information. However, due to the frequency with which municipalities revise their fees and other specifications, we cannot assume liability for any discrepancy in the taxes. In the event that tax amounts have changed, please notify us so we can update our records. Possible revenue bond charges for sewer and water pursuant to state statutes and local ordinances when connection to the system is made by the owner. The exact current and continuing charges depend on all the facts. Contact local officials for details. This report is based on best available information at the time. This is for informational purposes only and will not appear on the title policy.