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Home My WebLink AboutClosing Documents � � �� h�+F.A, . FirstAmerican Trtle Insr�rance Company <` � National Commercial Ser-vices 818 Stewart Street, Suite 800•Seattle,WA 98101 �� Office Phone:(206)728-0400 Offce Fax:(206)448-6348 Seller's Estimated Settlement Statement File No: NCS-835607-WA1 Escrow Officer: Laura Johnson/LJ Estimated Settlement Date: 03/31/2017 Disbursement Date: Property: 1104 Harrington Avenue Northeast, Renton,WA Buyer: Housing Authority of the City of Renton, a Municipal Corporation 2900 Northeast 10th Street, Renton, WA 98056 Seller: City of Renton, a Municipal Corporation 1055 South Grady Way, Renton, WA 98055 Description Seller Charge Seller Credit Consideration Total Consideration 915,000.00 Prorations S eciai District Char es t n 722780-1781-08 01/01/17 to 03/31/17 $12.29/ r 3.00 Title/Escrow Char es Closing-Escrow Fee to First American Title Insurance Company National Commercial 849.40 Services Policy-Standard ALTA 2006 Owner's to First American Title Insurance Company National 2,515.32 Commercial Services Estimated Documentar Transfer Tax 10.00 Cash(X To)( From)Seiler 911,622.28 Totals 915,000.00 915,000.00 PLEASE NOTE: A modification of money-transfer or disbursement instructions can be a red flag for Online Banking Fraud and could be a trap for the unwary. Should we knowingly receive such a modification, in the interest of prudence,we may consider it sus�ect and call a known and trusted phone number to verify its authenticity and accuracy. Your awareness and cooperatior.in taking appropriate steps to prevent fraud is greatly appreciated. SELLER(S): City of Renton, A Municipal Corporation Settlement Statement Page 1 of 2 Print Date:03/15/2017, 3:04 PM rrrr ,� Seller's Estimated Settlement Statement Settlement Date: File No: NCS-835607-WA1 Officer: Laura Johnson/LJ By: Name: Denis Law Titie: Mayo , gy; � 3 zS/� Name: Ja on A. S� � Title: City lerk \��\1\t111itil�/�t+l G1�� p� R��, .� ;. `\,��,,,,,,��,,,,�, �'p''�. �''� S`= _ _ x , '. ; : * = SEAL = * _ "s y ' '� ' _ ; � %�O �''�� .�`� o"� ��i �A ��Nini��N�� y� `. /��i��q1'EO SE4;`6��`��`` Settlement Statement Page 2 of 2 Print Date:03/15/2017, 3:04 PM `�r✓ �, `��.( .h}! F,'k f 7 ��. �c � �.\ ��.�,� First American Tit/e Insu�ance Company National Commercial Services 818 Stewart Street Suite 800 Seattle, Washington 98101 DISCLOSURES TO THE PARTIES UNDER APR-12 Escrow No: NCS-835607-WAl Date: 03/02/2017 IN ACCORDANCE WITH THE REQUIREMENTS OF A.P.R. 12 OF THE SUPREME COURT OF THE STATE OF WASHINGTON, FIRST AMERICAN TITLE INSURANCE COMPANY AND THE CLOSING OFFICER SPECIFIED BE�OW HAVE THE DUTY TO INFORM YOU OF THE FOLLOWING: 1) The Closing Officer is not acting as the advocate or representative of either party; 2) The Closing Officer will prepare documents which affect the legal rights of both parties; 3) The parties may have differing interests in the documents; 4) The parties have the right to be represented by lawyers of their own selection and each party may have a separate lawyer; 5) The Closing Officer cannot give legal advice to the parties concerning the manner in which the documents affect those parties. The Closing Officer is only permitted to select and compiete documents which have been approved by the Limited Practice Board in accordance with a written Agreement between the parties and/or Lender's Instructions which contains all of the basic terms of the transaction. The Closing Officer is not permitted to negotiate terms which are not included in the written Agreement and/or Lender's Instructions. The Closing Officer is not permitted to practice law. In this transaction your Closing Officer is: Laura 7ohnson, his/her Limited Practice License No. is: 765 . FIRST AMERICAN TITLE INSURANCE COMPANY BY: Page 1 of 4 Laura Johnson/Ij/03/15/2017/NCS-835607-WAl/206 � � Please acknowiedge receipt of the foregoing Notice of Compliance with A.P.R. 12 and that you have read the same by signing your name(s)to the copy of this Notice on the signature line(s) below. (If such Notice has been hand-delivered or mailed to you, please return the copy of the Notice showing your signature(s) in the enclosed, stamped, self addressed envelope.) We will be unable to continue with the closing until we have received the signed Notice from you. I have received and read a copy of the Disclosure, and understand its contents this � � day of March 2017 Buyer: Seller: Housing Authority of the City of Renton. a City of Renton, A Municipai Corporation Municipal Corporation By: BY� Name: Denis Law Name: Mark Gropper Title: M or Title: Executive Director By: A� 3�.� BY� N e: Jas A. Seth � Name: T le: City lerk Title: �.�`'��(�"�F„a,FN '''% ��,G� ��,,,,,�,�„��,,, '�, ; ;, ��.,rp '�, _ x �'', 2�; : * = SEAL = ,� = S y : � � _ . � i � ��'ii �� '� � i . O � '��i �A ��+Nntu��\ y�' � '��/i��'�TE01SEP`;6��`��`` Page 2 of 4 Laura Johnson/Ij/03/15/2017/NCS-835607-WAi/206 ti�.r �,�,, ATTACHMENT TO DISCLOSURES TO THE PARTIES UNDER APR 12 Date: March 02, 2017 File No.: NCS-835607-WA1 (U) THE FOLLOWING DOCUMENTS INITIALED HAVE BEEN SELECTED AND PREPARED BY THE LIMITED PRACTICE OFFICER. U EXCISE TAX AFFIDAVIT SUPPLEMENTAL EXCISE TAX AFFIDAVIT U LPB 10 STATUTORY WARRANTY DEED LPB 11 STATUTORY WARRANTY DEED (FULFILLMENT OF REC) LPB 12 QUIT CLAIM DEED LPB 13 SELLER'S ASSIGNMENT OF CONTRACT AND DEED LPB 14 PURCHASER'S ASSIGNMENT OF CONTRACT AND DEED LPB 15 BARGAIN AND SALE DEED LPB 16-09 SPECIAL WARRANTY DEED LPB 20 DEED OF TRUST(SHORT FORM) LPB 21 ASSIGNMENT OF DEED OF TRUST LPB 22 DEED OF TRUST(LONG FORM) LPB 22A DEED OF TRUST LPB 23 REQUEST FOR FULL RECONVEYANCE LPB 24 REQUEST FOR PARTIAL RECONVEYANCE LPB 28A PROMISSORY NOTE LPB 29 REQUEST FOR NOTICE LPB 30 BILL OF SALE LPB 35 SUBORDINATION AGREEMENT LPB 44 REAL ESTATE CONTRACT(SHORT FORM) LPB 45 REAL ESTATE CONTRACT(LONG FORM) LPB 50 MORTGAGE (STATUTORY FORM) LPB 51 SATISFACTION OF MORTGAGE LPB 52 PARTIAL RELEASE OF MORTGAGE LPB 60 RELEASE OF LIEN LPB 61 PARTIAL RELEASE OF LIEN LPB 62 SATISFACTION OF JUDGMENT INITIALS: --�"� Page 3 of 4 Laura]ohnson/Ij/03/15/2017/NCS-835607-WAi/206 �r.r ,� ATTACHMENT TO DISCLOSURES TO THE PARTIES UNDER APR 12 continued Date: March 02, 2017 File No.: NCS-835607-WA1 (U LPB 63 PARTIAL RELEASE OF]UDGMENT LPB 64 WAIVER OF LIEN LPB 65 PARTIAL WAIVER OF LIEN LPB 70 SPECIAL POWER OF ATTORNEY(SALE) LPB 71 SPECIAL POWER OF ATfORNEY(PURCHASE/ENCUMBER) LPB 72S CONSUMER USE TAX RETURN (DEPARTMENT OF REVENUE) AUDITOR'S COVER SHEET UCC UCC UCC DEPARTMENT OF LICENSING FORMS LENDER LOAN DOCUMENTS THAT ARE APPROVED AND DESIGNED FOR USE BY THE SECONDARY MORTGAGE MARKET INCLUDING NOTES, DEEDS OF TRUST AND RIDERS,ASSIGNMENT OF MORTGAGE, ASSIGNMENT OF REVERSE ACCOUNT FUNDS, DEPARTMENT OF HOUSING AND URBAN DEVELOPMENT DOCUMENTS. THE LIMITED PRACTICE OFFICER DID NOT PREPARE TRUTH-IN- LENDING DISCLOSURE. FMHA LOAN DOCUMENTS A . �� INITI LS' Page 4 of 4 Laura Johnson/Ij/03/15/2017/NCS-835607-WAl/206 `vrr►' � First American Title Insurance Company Commercial Owner's Affidavit STATE OF WASHINGTON } } COUNTY OF KING } The undersigned afFant first being duly sworn, deposes and says: PARCEL A: THAT PORTION OF PUBLIC USE AREA ADJACENT TO TRACT 46B IN BLOCK 46 OF CORRECTED PLAT OF RENTON HIGHLANDS N0. 2, AN ADDITION TO THE CI7Y OF RENTON, ACCORDING TO THE PLAT RECORDED IN VOLUME 57 OF PLATS, PAGES 92 TO 98, INCLUSIVE, RECORDS OF COUNTY OF KING, WASHINGTON, LYING SOUTH OF A LINE DESCRIBED AS FOLLOWS: BEGINNING AT THE SOUTHEAST CORNER OF LOT 21, BLOCK 46 OF SAID PLAT; THENCE EAST TO THE SOUTHWEST CORNER OF TRACT 46A OF SAID PLAT; AND LYING NORTH OF THE FOLLOWING DESCRIBED LINE: BEGINNING AT THE SOUTHWEST CORNER OF LOT 19, BLOCK 46 OF SAID PLAT; THENCE SOUTH 03°35'47" WEST 25.58 FEET FROM THE SOUTHWEST CORNER OF SAID LOT 19; THENCE SOUTH 86°34'36" EAST 200.80 FEET TO THE CENTERLINE OF VACATED HARRINGTON PLACE NORTHEAST AND THE TERMINUS OF SAID LINE; TOGETHER WITH A 10 FOOT WALKWAY LYING BETWEEN TRACTS 46A AND 46B OF SAID PLAT AND BETWEEN LOTS 20 AND 21 OF SAID BLOCK 46. PARCEL A-1: PORTION OF TRACT 46B OF BLOCK 46 OF CORRECTED PLAT OF RENTON HIGHLANDS N0. 2, AN ADDITION TO THE CITY OF RENTON, ACCORDING TO THE PLAT RECORDED IN VOLUME 57 OF PLATS, PAGES 92 TO 98, INCLUSNE, RECORDS OF COUNTY OF KING, WASHINGTON, AND THAT PORTION OF VACATED HARRINGTON PLACE NORTHEAST(FORMERLY 12TH PLACE), DESCRIBED AS FOLLOWS: BEGINNING AT THE INTERSECTION OF THE WESTERLY LINE OF TRACT 466 AND THE NORTHERLY LINE OF A 50 FOOT STRIP OF LAND DEEDED IN AUDITOR'S FILE N0. 6471625; THENCE NORTH 32°15'S8" EAST ALONG SAID WESTERLY LINE 216.08 FEET TO THE TRUE POINT OF BEGINNING; THEhCE SOUTH 57°44'02" EAST 110.00 FEET�1-0 THE WESTERLY MARGTN OF SAID HARRINGTON PLACE NORTHEAST; THENCE SOUTH 32°15'S8" WEST ALONG SAID MARGIN 187.69 FEET TO THE SOUTH LINE OF RENTON LOT LINE AD]USTMENT N0. LLA 7-83, RECORDED UNDER RECORDING N0. 8304119003; THENCE SOUTH 86°34'36" EAST ALONG SAID SOUTH LINE 6.03 FEET; THENCE NORTH 31°24'45" EAST 186.09 FEET; THENCE NORTH 58°24'13"WEST 110.21 FEET; Page 1 of 4 Laura Johnson/Ij/03/15/2017/NCS-835607-WAl/206 ti'r° ,�+' Date: March 15, 2017 Owner's A�davit - continued File No.: NCS-835607- WA1 (U) THENCE NORTH 30°56'11" EAST 99.11 FEET TO THE NORTHWESTERLY CORNER OF SAID TRACT 466; THENCE SOUTH 32°15'S8" WEST ALONG THE WESTERLY LINE OF SAID TRACT 99.09 FEET TO THE POINT OF BEGINNING. PARCEL A-2: PORTION OF TRACT 466 OF BLOCK 46 OF CORRECTED PLAT OF RENTON HIGHLANDS N0. 2, AN ADDITION TO THE CITY OF RENTON, ACCORDING TO THE PLAT RECORDED IN VOLUME 57 OF PLATS, PAGES 92 TO 98, INCLUSIVE, RECORDS OF COUNTY OF KING, WASHINGTON, LYING NORTHERLY OF THE FOLLOWING DESCRIBED LINE: BEGINNING AT THE SOUTHWEST CORNER OF LOT 19, BLOCK 46 OF SAID PLAT; THENCE SOUTH 03°35'47" WEST 25.58 FEET FROM THE SOUTHWEST CORNER OF SAID LOT 19; THENCE SOUTH 86°34'36" EAST 200.80 FEET TO THE CENTERLINE OF VACATED HARRINGTON PLACE NORTHEAST AND THE TERMINUS OF SAID LINE; AND LYING SOUTHERLY AND WESTERLY OF THE FOLLOWING DESCRIBED LINE: BEGINNING AT THE INTERSECTION OF THE WESTERLY LINE OF TRACT 46B AND THE NORTHERLY LINE OF A 50 FOOT STRIP OF LAND DEEDED IN AUDITOR'S FILE N0. 6471625; THENCE NORTH 32°15'S8" EAST ALONG SAID WESTERLY LINE 216.08 FEET TO THE TRUE POINT OF BEGINNING; THENCE SOUTH 57°44'02" EAST 110.00 FEET TO THE WESTERLY MARGIN OF SAID HARRINGTON PLACE NORTHEAST; THENCE SOUTH 32°15'S8" WEST ALONG SAID MARGIN 187.69 FEET TO THE SOUTH LiNE OF RENTON LOT LINE ADJUSTMENT N0. LLA 7-83, RECORDED UNDER RECORDING N0. 8304119003 AND THE TERMINUS OF SAID LINE. 1. That there have been no construction, repairs, alterations, improvements made, ordered or contracted to be made on or to the Property, nor materials ordered within the last 6 months(or 90 days after completion of work)which have not been paid for, nor are there any fixtures attached to the Property which have not been paid for in full; and there are no outstanding or disputed claims for any such work or item, except: N/A That the work of improvement, if any: [ ] Started on [ ] Was completed on [ ] Will be completed on 2. That there has been no work done, nor notice received that work is to be done by the municipality(city, borough, or townsh�p), or at its direction, including but not fimited to thP ins�allation of water or sewer lines, or For improvements such as paving or repaving of streets or aileys, or the installation of curbs or sidewalks. 3, That there are no unrecorded leases or agreements afFecting the Property, and there is no one in possession of or that has access to the Property, other than: (enter N/A if such is true) Page 2 of 4 Laure Johnson/Ij/03/15/2017/NCS-835607-WAl/206 � � Date: March 15, 2017 Owner's Affidavit- continued File No.: NCS-835607- WA1 (U) [ ] the undersigned [ ] tenants based on month-to month rental agreements [ ] lessees based on existing leases, copies of which are attached hereto [ ] affiant(s) please remember to attach copies of leases. [X] N/A 4. That there are no rights of first refusal or options to purchase all or any part of the Properry except: N/A (enter"None" or"N/A" if such is true) 5. That there are no unpaid real estate taxes or assessments except as shown on the current tax roll. That the undersigned has not received any supplemental tax bill which is unpaid. 6. That no actions in bankruptcy have been filed by or against the corporation in any federal court or any other court of competent jurisdiction. 7. That there are no matters pending against the A�ant that could give rise to a lien that would attach to the property between the most recent efFective date of the title commitment and the recording of the interest to be insured, and that the Affiant has not and will not execute any instrument that would adversely affect the title or interest to be insured. 8. That this affidavit is given for the purpose of inducing First American Title Insurance Company and/or its a4ent to issue its policies of title insurance which ma�provide coverage as to the matters listed above. The undersigned acknowledge that they have read the foregoing and fully understand the legal aspects of any misrepresentation and/or untrue statements made herein and indemnify and hold harmless FIRST AMERICAN TITLE INSURANCE COMPANY against liability occasioned by reason of reliance upon the statements made herein. City of Renton, A Municipal Corporation ```�,��►ti��n�n►,,�,, ��,��` pF R EiyT''�,,, By_ ;,.�,�.�,,,,,,,,,,,,,,�,,,,,,, oy,,,,, Name: Denis Law = �. ' ' Title: Mayor = " SE�,L = * = * '-,,, � ',,�; B � C�� ,��ii��Cp��nu��a``��,��;�� y; G� i��i� QRATED 5� �� Na : Jason . Seth �''"'+n��►��"```�� Title: City Clerk Page 3 of 4 Laura Johnson/Ij/03/15/2017/NCS-835607-WAl/206 °�.r � Date: March 15, 2017 Owner's Affidavit- continued File No.: NCS-835607- WA1 (U) STATE OF Washington ) )-ss COUNTY OF King ) I certify that I know or have satisfactory evidence that Denis Law , is/are the person(s) who appeared before me, and said person(s)acknowledged that he/she/they signed this instrument, on oath stated that he/she/they is/are authorized to execute the instrument and acknowledged it as the Mayor of City of Renton, a municipal corporation to be the free and voluntary act of such party(ies) for the uses and purposes mentioned in this instrument. Dated: `�A�� aZ�T201'7 C�4.v�h.a-,�'(�t�+�.t.2 cSa.ndr�� Gcki r ��``��"��►� Nota Public in and for the State of Washin ton \`P�� J ��/ Resid n at: tK'Far� G�►R g �� ,,.��,n� ! 9 l� — �i��Sg��NFf�'�i�� % M a ointment ex ires: G � =o,� �oTq .o�, �� Y PP p �l9/ZOl� � �V RL '11ts�� ' '� • �. HS i % �4 �o G = � % ��i� U$6� c Z fi,,�� ,__ i�i/ � �r�si'�9,'""` ��`�. '��1��'�WAS'��.�"' {1111i�,\�'►'�� Pa9e 4 of 4 Laura Johnson/Ij/03/15/2017/NCS-835607-WAl/206 � � SELLER'S CERTIFICATION OF NON-FOREIGN STATUS UNDER FOREIGN INVESTMENT IN REAL PROPERTY TAX ACT ("FIRPTA") (26 U.S.C. 1445) File No: NCS-835607-WAi For purposes of this form the following definitions shall apply: 1. Seller-the person(s) or entity(ies)that hold(s)the legal title to a U.S. real property interest under local law. 2. Transferor-the person(s) or entity(ies)that is/are the party(ies)treated as the transferor(s) under 26 USC 1445 (IRC Section 1445). The Seller may or may not be deemed to be the Transferor for purposes of withholding under FIRPTA. This form must be completed by each Seller or Transferor. All Sellers or Transferors providing this certification must have a taxpayer identification number("TIN").A TIN is not an indication that the Seller or Transferor is a resident alien or a U.S. citizen. 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 is a foreign person. I. THIS SECTION FOR INDIVIDUAL SELLER(�)WHO IS/ARE ALSO THE TRANSFEROR(S)• EACH SELLER/TRANSFEROR MUST COMPLETE AND SIGN A SEPARATE FORM. MAKE COPIES FOR EACH SELLER/TRANSFEROR TO COMPLETE: To inform the transferee (buyer) that withholding of tax is not required upon my disposition of a U.S. real property interest,the undersigned Seller/Transferor hereby certifies the following: 1. I am NOT a nonresident alien for purposes of U.S. income taxation, 2. My U.S. Taxpayer ldentification (Social Security) 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. Signature Date II. THIS SECTION FOR ENTITY SELLERS: For U.S. tax purposes(including Section 1445), the owner of a disregarded entity (which has legal title to a U.S. real property interest under local law) will be the Transferor of the property and not the disregarded entity. � � p. F9R ENTITY SELLERS THAT ARE NOT i�ISk�GAR�ED tiVTxTIES: To inform the transferee that withholding of tax is not required upon the disposition of a U.S. real property interest by Seller, the undersigned Seller/Transferor hereby certifies: `�rr � 1. Seller IS NOT a disregarded entity, 2. Seller/Transferor 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), 3. Seller's/Transferor's Taxpayer ldentification Number is 91-6001271 , and 4. Seller's/Transferor's office address is 1055 South Grady Way, Renton, WA 98057 Seller/Transferor 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 Seller/Transferor. Seller/Transferor .'liv'�'o � � BY: March � J , 2017 Name: Denis Law Date: j�; Mayor B. FOR ENTITY SEILERS THAT ARE DISREGARDED ENTITIES: To inform the transferee that withholding of tax is not required upon the disposition of a U.S. real property interest by Seller, the undersigned Transferor hereby certifies: 1. Seller, [insert name of Seller entiry] IS a disregarded entity as defined in 26 CFR 1.1445-2(b)(2)(iii), thus Seller's owner, [insert owner name], is therefore the Transferor; 2. Transferor is NOT a foreign corporation, foreign partnership, foreign trust, or foreign estate, nor a non-resident alien for purposes of U.S. income taxation (as those terms are defined in the Internal Revenue Code and Income Tax Regulations), 3. Transferor's U.S. Taxpayer ldentification number is ; and 4. Transferor's address is: [please complete address below] [Insert home address if Transferor is an individual]: [Insert office address if Transferor is an entiry: Transferor 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 betief it is true, correct, and complete, and i further declare that I have authority to sign this document on behalf of Transferor. Signature Date � � � n��F k� First American Title Insurance Company �` �',� National Commerciai Services � I��t� 818 Stewart Street,Suite 800 "'1��• Seattle,WA 98101 ,�` (206)615-3276 � �� Fax-(866)678-0593 RE: 1104 Harrington Avenue Northeast, Renton,WA Escrow No.: NCS-835607-WA1 (U) PROCEEDS/FUNDS DISBURSEMENT INSTRUCTIONS: The undersigned directs that the proceeds/funds due will be disbursed in the following manner: [ ] Held for pick up at this o�ce (ID will be required) [ ] Sent via overnight delivery [ ] Mail to: [ ] Other: [X] Sent via wire transfer (if checked, Attach wiring instructions of receivinA bank or fi//in be%w. With cybe�fraud on the increase, we suggest you mai/, use an overnight service or hand-de/iver any items containing banking or other private information and not send via emai/,) P/ease Note: Modified or amended disbursement instructions must be signed by the parties at an office of First American Title Insurance Company National Commercial Services. Proof of identity will be required. Funds disbursed to other than record owner must be in writing with authorized approval by First American Title Insurance Company National Commercial Services and possibly buyer/borrower's lender on a TILA- RESPA Integrated Disclosure (TRID) regulated loan. Receiving Banks may impose a charge for the receipt of any wire transfers. Escrow Holder is not responsible for delays in wiring caused by time restrictions of the Federal Reserve Board or late confirmation of recording. The undersigned are aware that closing on a Friday may cause delay in disbursement of a wire. Escrow Holder is also not responsible for any delays created by the recipient's bank. When funds are sent to a bank outside the United States, Escrow Holder shall not be responsible or liable for any loss or expense incurred as a result of currency exchange rates, delays in availability of funds, or delays due to the U.S. bank or foreign bank requiring additional information. Escrow Holder shall have no liability or responsibility after properly initiating the outgoing wire transfer. For best results on an outgoing international wire transfer, the international bank should provide written wire instructions. Bank Name: Name on Acct: Account No.: FEDWIRE Routing No.: Any further instructions Please see attached � Date: March �,,5 , 2017 City of Rent a Municipal C rporation, a(n) Denis Law Mayor Best Phone No: 425-430-6500 Forwarding Address: N/A � � WIRE INSTRUCTIONS FOR INBOUND WIRES TO CITY OF RENTON Account# 1 535 0069 8326 ABA# 125000105 Please reference: 316.332043.005.395.10.00.000 Proceeds from the sale of Sunset Court Park ��r'r+ �1f ` �Y ,��iER! �-7 k � �� First American Tit/e Insu�ance Company National Commercial Services 818 Stewart Street, Suite 800, Seattle,WA 98101 (206)728-0400 Fax(206)448-6348 Escrow File No.: NCS-835607- WAi Title Order No: NCS-835607- WAl Purchaser(s): Housing Authority of the City of Renton, a Municipal Corporation Seller: City of Renton, a Municipal Corporation ESCROW INSTRUCTIONS For Purchase and Sale Transaction The undersigned buyer and seller (referred to herein as "the parties") hereby designate and appoint PIRSTAMERlCAN TITLEINSURANCE COMPANY (referred to herein as "the ctosing agent") to act as their closing and escrow agent according to the following agreements and instructions. IT IS AGREED,AND THE CLOSING AGENT IS INSTRUCTED,AS FOLLOWS: Terms of Sale. The terms and conditions of the transaction which is the subject of these instructions (referred to herein as "the transaction")are set forth in the parties' Purchase and Sale Agreement, Earnest Money Agreement, or other written agreement, and any attachments, amendments or addenda to that agreement (referred to herein as"the parties' agreement"),which is made a part of these instructions by this reference. Any changes to the parties' agreement will be made a part of these instructions, without further reference, when signed by the parties and delivered to the closing agent. These instructions are not intended to amend, modify or supersede the terms and conditions of the parties' agreement and if there is any conflict or inconsistency between these instructions and the parties' agreement, the terms and conditions of the parties' agreement shall control. Description of Real Property. The real property which is the subject of the transaction (referred to herein as "the property") is identified in the parties' agreement. The documents required to close the transaction must contain the "legal description" of the property. If the parties' agreement does not yet contain the correct legal description, the parties or the real estate agent shall obtain an addendum setting forth the legal description as soon as possible and deliver it to the closing agent. Closing Date. The date on which the documents required to..close the transaction are filed for record (referred to herein as "the closing date") shall be on or before the date for closing of the transaction specified in the parties' agreement or in an addendum extending that date. Page 1 of 5 Laura Johnson/Ij/03/15/2017/NCS-835607-WAi/206 �r►► � Documents. The closing agent is instructed to select, prepare, complete, correct, receive, hold, record and deliver documents as necessary to close the transaction. The closing agent may request that certain documents be prepared or obtained by the parties or their attorneys, in which case the parties shall deliver the requested documents to the closing agent before the closing date. Execution of any document will be considered approval of its form and contents by each party signing such document. Deposits and Disbursements of Funds. Before the closing date, each party shall deposit with the closing agent all funds required to be paid by such party to close the transaction, less any earnest money previously deposited. The closing agent is authorized, but not required, to consider a lending institution's written commitment to deposit funds as the equivalent of a deposit of such funds, if all conditions of the commitment will be met on or before the closing date. All funds received by the closing agent shall be deposited in a trust account with any bank doing business in the State of Washington and may be transferred to any other such accounts. The closing agent shall not be required to disburse any funds deposited by check or draft until it has been advised by its bank that such check or draft has been honored. Settlement Statement. The closing agent is instructed to prepare a settlement statement showing all funds deposited for the account of each of the parties and the proposed disbursements from such funds. No funds shall be disbursed until the parties have examined and approved the settlement statement. Some items may be estimated, and the final amount of each estimated item will be adjusted to the exact amount required to be paid at the time of disbursement. The settlement statement will be subject to audit and any errors or omissions may be corrected at any time. If any monetary error is found, the amount will be immediately paid by the parly liable for such payment to the party entitled to receive it. Prorations. Adjustments or pro-rations of real estate taxes, and other charges if any, shall be made on a per-diem basis using a 365 day year, unless the closing agent is otherwise instructed. Title Insurance. The closing agent is instructed to obtain and forward to the parties a preliminary commitment for title insurance on the property and on any other parcel of real property that wili be used to secure payment of any obligation created in the transaction (referred to herein as "the title report"). Verification of Existing Encumbrances. The closing agent is instructed to request a written statement from the holder of each existing encumbrance on the property, verifying its status, terms, balance owing and, if it will not be removed at ciosing, the requirements that must be met to obtain a waiver of any due-on-sale provision. The closing agent is authorized to rely upon such written statements in the performance of its duties, without liability or responsibility for their accuracy or completeness. Instructions From Third Parties. If any written instructions necessary to close the transaction according to the parties' agreement are given to the closing agent by anyone other than the parties or their attorneys, including but not limited to lenders, such instructions are accepted and agreed to by the parties. Disclosure of Information to Third Parties. The closing agent is authorized to furnish, upon request, copies of any closing documents, agreements or instructions concerning the transaction to the parties' attorneys, and to any real estate agent, lender or title insurance company involved in the transaction. Other papers or documents containing personal or financial information concerning any party may not be released to anyone other than the party's attorney or lender, without prior written approval. Potential Legal Problems. If the closing agent becomes aware�of any facts, circumstances or potential problems which in the closing agent's opinion should be reviewed by any of the parties' attorneys, the closing agent is authorized, in its sole discretion, to advise the parties of such facts, circumstances or potential problems and recommend that legal counsel be sought. Closing Agent's Fees and Expenses. The closing agent's fee is intended as compensation for the services set forth in these instructions. If additional services are required to comply with any charge or addition to the parties' agreement or these instructions, or as a result of any party's assignment of interest or delay in Page 2 of 5 Laura Johnson/Ij/03/15/2017/NCS-835607-WAl/206 �vrr+' � performance, the parties agree to pay a reasonable additional fee for such services. The parties shall also reimburse the closing agent for any out-of-pocket costs and expenses incurred by it under these instructions. The closing agent's fees, costs and expenses shall be due and payable on the ciosing date or other termination of the closing agent's duties and responsibilities under these instructions, and shall be paid one-half by the buyer and one-half by the seller unless otherwise provided in the parties' agreement. Cancellation. These instructions may be canceled by a written agreement, signed by all of the parties, and payment of the closing agent's fees, costs and expenses. Upon receipt of such agreement and payment, the closing agent shall return any money or documents then held by it to the parties that deposited the same, and shall have no further duties or responsibilities under these instructions. Inability to Comply With Instructions. If the closing agent receives conflicting instructions or determines, for any reason, that it cannot comply with these instructions by the date for closing specified in the parties' agreement or in any written extension of that date, it shall notify the parties, request further instructions, and in its discretion: (1) continue to perform its duties and close the transaction as soon as possible after receiving further instructions, or (2) if no conflicting instructions have been received, return any money or documents then held by it to the parties that deposited the same, less any fees and expenses chargeable to such party, or(3) commence a court action, deposit the money and documents held by it into the registry of the court, and ask the court to determine the rights of the parties. When the money and documents have been returned to the parties or deposited into the registry of the court, the closing agent shall have no further duties or responsibilities under these instructions. Disputes. Should any dispute arise between the parties, or any of them, and/or any other party, concerning the property or funds involved in the transaction, the closing agent may, in its sole discretion, hold all documents and funds in their existing status pending resolution of the dispute, or join or commence a court action, deposit the money and documents held by it with the court, and ask the court to determine the rights of the parties. Upon depositing said funds and documents with the court, the closing agent shall have no further duties or responsibilities under these instructions. The parties jointly and severally agree to pay the closing agent's costs, expenses and reasonable attorney's fees incurred in any lawsuit arising out of or in connection with the transaction or these instructions, whether such lawsuit is instituted by the closing agent, the parties, or any other person. Notices. Any notice, declaration or request made under these instructions shall be in writing, signed by the party giving such notice or making such declaration or request, and personally delivered or mailed to the closing agent and other parties at their addresses set forth in these instructions. Amendments. Any amendment, addition or supplement to these instructions must be in writing, signed by the appropriate parties and delivered to the closing agent. Counterparts. These instructions may be executed in one or more counterparts with like efFect as if ail signatures appeared on one copy. Effect. These instrudions shall bind and benefit the parties, the closing agent, and their successors in interest. Definitions. when used herein or in any amendment, addition or supplement hereto, words and phrases are d�fined and are to be construed as follows: The words "buyer" and "seller" refer to all persons and entities identified as such by their signatures on this document,jointiy and severally unless otherwise indicated, and shall be construed interchangeably with other similar terms such as "purchaser", "vendee", "vendor", "grantee" or "grantor" as may be appropriate in the context and circumstances to which such words apply. The word "lender" refers to any lending institution or other party, including the seller if appropriate, that has agreed to provide all or part of the financing for the transaction or to which the buyer has made a loan application. The phrase "these instructions" refers to the agreements, instructions and provisions set forth in this document and all amendments, additions and supplements to this document. Page 3 of 5 Laura Johnson/Ij/03/15/2017/NCS-835607-WAl/206 � � The phrase "the property" refers to the real property identified in the parties agreement, including any other parcel of real property that wiil be used to secure payment of any obligation created in the transaction, and does not include any items of personal property unless otherwise specifically stated in these instructions. The phrase "outside of escrow" refers to any duty, obligation or other matter which is the sole responsibility of the parties or of any party, and for which the closing agent shall have no responsibiliry or liability. In these instructions, singular and plural, masculine and feminine words, shall be construed interchangeably as may be appropriate in the context and circumstances to which such words apply. MATTERS TO BE COMPLETED BY THE BUYER AND SELLER IMPORTANT-READ CAREFULLY The following items must be completed by the parties,outside of escrow, and are not part of the closing agents'duties under these instructions. Disclosures, Inspection and Approval of the Property. Any required disclosures concerning the property, or inspections or approvals of the property or of improvements, additions or repairs to the property will be arranged and completed by the parties, outside of escrow. The closing agent shall have no liability with respect to the accuracy of any disclosures made, or for the physical condition of the property, or any buildings, improvements, plumbing, heating, cooling, electrical, septic or other systems on the property, and no responsibility to inspect the property, or to otherwise determine or disclose its physical condition, or to determine whether any required disclosures have been made, or whether any required improvements, additions or repairs have been satisfactorily completed. Personal Property. Any required inspections, approvals or transfers of possession of any owned or leased fixtures, equipment or other items of personal property included in the transaction, and payment of any personal properry, sales or use taxes, will be completed by the parties outside of escrow. Unless otherwise instructed, the closing agent shall have no responsibility with respect to such personal property and shall not be required to determine the status or condition of the title to, encumbrances upon, ownership, or physical condition of such personal properry, nor to calculate, pro-rate, collect, prepare returns for or pay any personal property tax, sales tax or use tax arising from the transaction. Utilities. All orders, cancellations, transfers, payments and adjustment of accounts for water, sewer, garbage collection, electricity, gas, fuel oil,telephone, television cable and any other utilities or public services will be completed by the parties outside of escrow. Unless otherwise instructed, the closing agent shall have no responsibility to determine, collect, pay, pro-rate or adjust charges for installation or service for any utilities or public services, except to pro-rate existing recurrent assessments for public improvements, if any, which appear on the title report. Fire & Casualty Insurance. If a new policy of fire, hazard or casualty insurance on the property is necessary to close the transaction, the buyer will arrange for the policy to be issued, outside of escrow, and will provide evidence of the required insurance coverage to the closing agent before the closing date. Unless otherwise instructed, the closing agent shall have no responsibility to contract for or obtain any policy of fire, hazard or casualty insurance on the property, or any assignment of such policy. Possession of the Property. The transfer of possession of the property shall be arranged directly between the parties outside of escrow and shall not be th� responsibility of the closing agent. Collection Account. If any financing for the transaction will be provided by a private party, the parties are advised to open a collection account at a financial institution to receive and disburse payments to be made under the private promissory note or contract. The collection account shall be established by the parties outside of escrow and shall not be the responsibility of the closing agent. Page 4 of 5 Laura Johnson/Ij J 03/15/2017/NCS-835607-WAl/206 � � Payment of Omitted Taxes. If any additional real property taxes are assessed for recent improvements made to the property and not added to the tax rolis before the closing date, the parties shall pay their respective shares of such omitted taxes, pro-rated as of the closing date, within 30 days after receipt of notification that such taxes have been assessed. The closing agent shali not be responsible or liable for any assessment, collection or payment of omitted taxes. Individual Taxes. The parties are advised to consult with their attorneys to determine whether they must report income, deduct expenses or losses, or withhold or pay any income or business taxes as a resuit of the transaction. The closing agent shall have no responsibility for the parties' individual tax consequences arising from the transaction. Foreign Investment in Real Property Tax Act. If any seller is, or may be, a non-resident alien or a foreign corporation, partnership, trust or estate for the purposes of United States in income taxation, the parties are advised to consult with their attorneys before the closing date to determine their responsibilities and liabilities, if any, under the Foreign Investment in Real Property Tax Act (section 1445 et seq. of the Internal Revenue Code). The closing agent is not required to verify the nationality or foreign status of any of the sellers, or to withhold, report or pay any amounts due under such act. Approvals and Permits. The parties are advised to consult with their attorneys to determine whether any building, zoning, subdivision, septic system, or other construction or land use permits or approvals will be required, either before or after the closing date. The closing agent shall have no responsibility with respect to any such permit or approval, and shall have no liability arising from the failure of any party to obtain, or from the refusal of any governmental authority to grant, any such permit or approval. Compliance With Certain Laws. The parties are advised to consult with their attorneys to determine their rights and responsibilities, if any, with respect to disclosures concerning the condition of the property, or under the Consumer Protection Act, Truth-in-Lending Act, Interstate Land Sales Act or other similar laws. The closing agent shall have no responsibility for disclosures concerning the condition of the property, or for the parties compliance, nor any liability arising from the failure of any party to comply, with any such requirement or law. Add itional Instructions. Housing Authority of the City of Renton. a City of Renton, A Municipal Corporation Municipal Corporation By: BY� Name: Denis Law Name: Mark Gropper Title: Mayor ��aw��in►�� • Title: Executive Director !` p RE ''',,, �,� � ��i�u„n, )' �'�.. B •_ �' ��'�• : Y� - , BY� Nam : Jason ,�6�ths E A j., = * = Name: Titl City Cle� = 'J�' ,' ; , - y , _ Title: '. �O,'��i �p��, y°►�`�� i� �p ��uuua+�` �. `�� i��`'pRq 1��sEQ*,``��. Page 5 of 5 Laura Johnson/Ij/03/15/2017/NCS-835607-WAl/206 � � Supplement to ESCROW INSTRUCTIONS For Purchase and Sale Trensaction Including Instructions to Record Documents and Disburse Funds Escrow File No.: NCS-835607- WA1 Title Order No: NCS-835607- WA1 Purchaser(s): Housing Authority of the City of Renton, a Municipal Corporation Seller: City of Renton, a Municipal Corporation This is a part of the Escrow Instructions signed by the parties under the Fi�stAme�ican Tit/e Insurance Company, (hereinafter Escrow Agent) escrow file number set forth above. Except as expressly modified, changed or amended by this supplement, all terms and conditions of the Escrow Instructions, and any previous supplements, additions or amendments thereto, shall remain in efFect. THE SELLER HAS APPROVED, SIGNED AND DEPOSITED THE FOLLOWING DOCUMENTS WITH THE ESCROW AGENT UNDER THESE INSTRUCTIONS: [X ] Statutory Warranty Deed [X] Foreign Investment in Real Property Tax Act(FIRPTA) [ ] Purchaser's Assignment of Contract and Deed [ ] Bill of Sale (for personal property) [X ] Real Estate Excise Tax AfFidavit [ ] Assignment and Assumption of Leases, Rents and Security Deposits [X ] Owner's Affidavit of Title [ J [ ] THE BUYER HAS APPROVED,SIGNED AND DEPOSITED THE FOLLOWING DOCUMENTS WITH THE ESCROW AGENT UNDERTHESE INSTRUCTIONS: [X] Copy of Statutory Warranty Deed [X] Real Estate Excise Tax A�davit [ ] Promissory Note [ ] Deed of Trust [ ] Security Agreement(for personal property) [ ] Financing Statement(for personal property) [ ] Assignment and Assu�ptio�of!�ascs, Rents and Security Deposits [ ] Exchange Instructions [ ] Assignment Agreement [ ] Ll Page 1 of 4 Laura Johnson/Ij/03/15/2017/NCS-835607-WAl/206 � � BY SIGNING THIS DOCUMENT, EACH PARTY ACKNOWLEDGES: Conditions of Parties'Agreement Satis�ied. All terms and conditions of the parties' agreement have been met to my satisfaction, or will be met, satisfied or complied with outside of escrow. Title Report Approved. The Preliminary Commitment for Titie Insurance, including the legal description of the property and all attachments, supplements and endorsements to that report, issued by First American Title Insurance Company under order number NCS-835607-WAi, are approved by me and made a part of these instructions by this reference. Settlement Statement Approved. The settlement statement prepared by the Escrow Agent is approved by me, made a part of these instructions by this reference, and I agree to pay my costs, expenses and other obligations itemized on that statement. I understand that any estimated amounts will be adjusted to reflect the exact amounts required when the funds are disbursed,that the settlement statement continues to be subject to audit at any time, and if any monetary error is found, the amount will be paid by the party liable for such payment to the party entitled to receive it. Limitation of Escrow Agent's Duties. Under these instructions, the Escrow Agent may select and prepare documents used to transfer title to certain items of real and/or personal property, and will perform other services ordinarily required to close that portion of the transaction. Since the transaction involves business or commercial property,there will be other legal requirements which must be met by the parties. The Escrow Agent is not permitted to determine what those requirements may be, nor to advise the parties concerning them. Recommendation to Consult Legal Counsel. The parties are strongly advised to consult with their attorneys to determine their rights and responsibilities with respect to the business and legal requirements arising from this transaction. BY SIGNING THIS DOCUMENT,THE BUYER FURTHER ACKNOWLEDGES: Property Approved. I have had adequate opportunity to inspect the property and to determine the exact location of its boundaries. The location and physical condition of the property and any buildings, improvements, plumbing, heating, cooling, electrical or septic systems on the properry are approved. I understand that all inspections and approvals of the location and physical condition of the property are my sole responsibility, and are not part of the Escrow Agent's duties and responsibilities. I hereby release and agree to hold the Escrow Agent harmless from any and all claims of liability for loss or damage arising or resulting from any physical condition or defect on the property,or from the location of its boundaries. Assumed Encumbrances Approved. I have had adequate opportunity to review the terms of payment, interest rates and conditions of any existing notes, deeds of trust, mortgages, contracts, assessments or other debts or obligations that I will assume and agree to pay in this transaction, and hereby approve the same. THE ESCROW AGENT IS INSTRUCTED TO PROCEED AS FOLLOWS: Instruction to Close. The Escrow Agent is instructed to perform its customary closing duties under these instructions,to deliver and record documents according to these instructions, and to disburse the funds according to the settlement statement, adjusting estimated amounts, when the Escrow Agent has the documents required to close the transaction in its posses�ion �^�1 t�as, or will obtain when the docur?�ents have been delivered and recorded: 1. Sale proceeds for the seller's account in the sum of 915,000.00,to be disbursed subject to and in accordance with the settlement statement . Page 2 of 4 Laura Johnson/Ij/03/15/2017/NCS-835607-WAi/206 '�rwr' � 2. A policy of title insurance issued pursuant to the Preliminary Commitment for Title Insurance referred to above, insuring the buyer with (X) owner's or() purchaser's (X) standard or( ) extended coverage with liability of$915,000.00, having the usual clauses, provisions and stipulations customarily contained in the printed provisions and schedules of such policy forms, insuring the buyer's title to the property against all defects or encumbrances except those set forth in the printed exceptions and exclusions customarily contained in the printed provisions and schedules of such policy forms, matters attaching by,through or under the buyer, taxes not yet due, and the matters set forth in the following numbered paragraphs of Schedule B of the Preliminary Commitment for Title Insurance: 2 ( exempt) 3 (none currently due) 4 and 5 3. Such other policies of title insurance as may be required by any lenders that are providing financing for the transaction. Completion or Correction of Documents. The Escrow Agent is instructed to correct any errors found in any document deposited under these instructions, and to insert as necessary the closing date, the date on which interest begins to accrue, and the dates on which payments must be made, if such items are incomplete. Adjustments and Pro-rations. The closing agent is instructed to adjust and pro-rate as of(X), the closing date or Q , real estate taxes for the current year, recurrent assessments if any Special district charges only . Reconciliation of the actual amount of any revenues or liabilities between Buyer and Seller for post-closing adjustments, collections and payments, pursuant to paragraph of the Agreement, will be handled between the parties outside of escrow and Escrow Agent will not be responsible nor liable for determination of any adjustments, collections, or payments. Proceeds Check: () Seller will pick up proceeds check. Q Mail proceeds check to seller at: �X Wire transfer- instructions attached Additional Instructions: Additional instruction shall be in writing and deposited with Escrow Agent prior to disbursement of funds and recording of and documents deposited herewith. BY SIGNING THIS DOCUMENT, EACH PARTY ACKNOWLEDGES: The Escrow Agent has not offered any legal advice or referred me to any named attorney, but has clearly requested that I seek independent legal counsel if I have any doubt concerning the transaction or these instructions. I have had adequate time and opportunity to read and understand these instructions and all other documents referred to in these instructions. Page 3 of 4 Laura Johnson/Ij/03/15/2017/NCS-835607-WAl/206 "�.r' :�"' Housing Authority of the City of Renton. a City of Renton, A Municipal Corporation Municipal Corporation .�-- By: BY� Name: Denis Law Name: Mark Gropper Title: Mayor Title: Executive Director By: � /�` � ��f BY� N e: Jas A. Seth � Name: Ti le: City lerk Title: .��`OF„RtEN,��'''% ,,,- y,,,,,,,,,,,,,,,,,,,,Tpy.,,,, �v� � ��, : . ; = � - SEAL _ * = : =, � � o,�� i � �'� .`� �� iyCp'��u�u��"��\ ,�!O`�.�` ��i��p�RATEO 5�� Page 4 of 4 Laura Johnson/Ij/03/IS/2017/NCS-835607-WAl/206