HomeMy WebLinkAboutBristol I Title Report-072116 Form WA-5 (6/76) File No.: NCS-804030-WA1
Commitment Face Page
First American Title Insurance Company
COMMITMENT FOR TITLE INSURANCE
Issued by
FIRST AMERICAN TITLE INSURANCE COMPANY
First American Title Insurance Company, herein called the Company, for 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 mortgagor 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 the Commitment or by subsequent endorsement.
This Commitment if preliminary to the issuance of such policy or policies of title insurance and all
liability and obligations hereunder shall cease and terminate six (6) 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. This Commitment shall not
be valid or binding until countersigned by an authorized officer or agent.
IN WITNESS WHEREOF, the Company has caused this commitment to be signed, to become valid
when countersigned by an authorized officer or agent of the Company, all in accordance with its By-
Laws. This Commitment is effective as of the date shown in Schedule A as “Effective Date.”
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Form WA-5 (6/76) File No.: NCS-804030-WA1
Commitment Page No. 1
First American Title Insurance Company
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First American Title Insurance Company
National Commercial Services
818 Stewart Street, Suite 800, Seattle, WA 98101
(206)728-0400 - (800)526-7544 FAX (206)448-6348
Lavonne Bowman Tina Kotas
(206)615-3269 (206)615-3053
lavbowman@firstam.com tkotas@firstam.com
To: Seco Development, Inc. File No.: NCS-804030-WA1
1083 Lake Washington Boulevard, Suite 50 Your Ref No.: 1083 Lake Washington
Boulevard North
Renton, WA 98056
Attn: Lisa Collins
SCHEDULE A
1. Commitment Date: July 14, 2016 at 7:30 A.M.
2. Policy or Policies to be issued:
AMOUNT PREMIUM TAX
2006 Lender's Extended $ TBD $ TBD $ TBD
Proposed Insured:
TBD
3. The estate or interest in the land described on Page 2 herein is Fee Simple, and title thereto is
at the effective date hereof vested in:
The Bristol at Southport, LLC, a Washington limited liability company
4. The land referred to in this Commitment is described as follows:
The land referred to in this report is described in Exhibit "A" attached hereto.
Form WA-5 (6/76) File No.: NCS-804030-WA1
Commitment Page No. 2
First American Title Insurance Company
EXHIBIT 'A'
LEGAL DESCRIPTION:
PARCEL A:
LOT 2 OF CITY OF RENTON SHORT PLAT NO. LUA-99-134-SHPL, ACCORDING TO SHORT PLAT RECORDED
JANUARY 31, 2000, UNDER RECORDING NO. 20000131900006, IN KING COUNTY, WASHINGTON.
PARCEL B:
EASEMENTS FOR INGRESS, EGRESS AND RAILROAD CROSSINGS AS ESTABLISHED IN RECORDING NOS.
6201855, 6317510, 9902019014, 20000131900006 AND 20001117000535, IN KING COUNTY, WASHINGTON.
Form WA-5 (6/76) File No.: NCS-804030-WA1
Commitment Page No. 3
First American Title Insurance Company
SCHEDULE B - SECTION 1
REQUIREMENTS
The following are the Requirements to be complied with:
Item (A) Payment to or for the account of the Grantors or Mortgagors of the full consideration for the
estate or interest to be insured.
Item (B) Proper instrument(s) creating the estate or interest to be insured must be executed and duly
filed for record.
Item (C) Pay us the premiums, fees and charges for the policy.
Item (D) You must tell us in writing the name of anyone not referred to in this Commitment who will
get an interest in the land or who will make a loan on the land. We may then make
additional requirements or exceptions
SCHEDULE B - SECTION 2
GENERAL EXCEPTIONS
The Policy or Policies to be issued will contain Exceptions to the following unless the same are disposed
of to the satisfaction of the Company.
A. Taxes or assessments which 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. Any facts, rights, interest, or claims which are not shown by the public records but which could
be ascertained by an inspection of said land or by making inquiry of person in possession thereof.
C. Easements, claims of easement or encumbrances which are not shown by the public records.
D. Discrepancies, conflicts in boundary lines, shortage in area, encroachments, or any other facts
which a correct survey would disclose, and which are not shown by public records.
E. (1) Unpatented mining claims; (2) reservations or exceptions in patents or in acts authorizing the
issuance thereof; (3) Water rights, claims or title to water; whether or not the matters excepted
under (1), (2) or (3) are shown by the public records; (4) Indian Tribal Codes or Regulations,
Indian Treaty or Aboriginal Rights, including easements or equitable servitudes.
F. Any lien, or right to a lien, for services, labor, materials or medical assistance heretofore or
hereafter furnished, imposed by law and not shown by the public records.
G. Any service, installation, connection, maintenance, construction, tap or reimbursement
charges/costs for sewer, water, garbage or electricity.
H. 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 of record for value the estate or interest or mortgages thereon
covered by this Commitment.
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Form WA-5 (6/76) File No.: NCS-804030-WA1
Commitment Page No. 4
First American Title Insurance Company
= SCHEDULE B - SECTION 2
(continued)
SPECIAL EXCEPTIONS
1. General Taxes for the year 2016.
Tax Account No.: 052305-9076-03
Amount Billed: $ 584,250.95
Amount Paid: $ 292,125.48
Amount Due: $ 292,125.47
Assessed Land Value: $ 2,777,400.00
Assessed Improvement Value: $ 41,416,600.00
2. Potential charges, for the King County Sewage Treatment Capacity Charge, as authorized under
RCW 35.58 and King County Code 28.84.050. Said charges could apply for any property that
connected to the King County Sewer Service area on or after February 1, 1990.
Note: Properties located in Snohomish County and Pierce County may be subject to the King
County Sewage Treatment Capacity Charges. To verify charges contact: (206) 296-1450 or
CapChargeEscrow@kingcounty.gov.
3. The terms and provisions contained in the spur track agreement recorded November 18, 1941
as Recording No. 3204562 of Official Records.
(Affects Parcel B)
4. The terms and provisions contained in the railroad tracks agreement recorded December 2, 1943
as Recording No. 3352228 of Official Records.
(Affects Parcel B)
5. The terms and provisions contained in the trackage agreement recorded December 2, 1943
as Recording No. 3352229 of Official Records.
(Affects Parcel B)
6. Easement, including terms and provisions contained therein:
Recording Information: March 14, 1968 under Recording No. 6317510
In Favor of: City of Renton
For: Roadway
7. Easement, including terms and provisions contained therein:
Recording Information: July 26, 1984 under Recording No. 8407260401
In Favor of: City of Renton
For: Fire main
Form WA-5 (6/76) File No.: NCS-804030-WA1
Commitment Page No. 5
First American Title Insurance Company
8. Terms, covenants, conditions and restrictions as contained in recorded Lot Line Adjustment
(Boundary Line Revision) LUA 98-176 :
Recorded: February 1, 1999
Recording Information: 9902019014
9. Covenants, conditions, restrictions and/or easements:
Recorded: February 26, 1999
Recording No.: 9902264177
10. Easement, including terms and provisions contained therein:
Recording Information: February 26, 1999 under Recording No. 9902264178
In Favor of: Puget Sound Energy, Inc., a Washington Corporation
For: Utility systems for the purposes of transmission, distribution and
sale of gas and electricity
11. Restrictions, conditions, dedications, notes, easements and provisions, if any, as contained
and/or delineated on the face of the Short Plat recorded January 31, 2000 under Recording No.
20000131900006, in King County, Washington.
12. The terms and provisions contained in the document entitled "Declaration of Covenants,
Conditions and Restrictions and Grant of Easements for Southport" recorded November 17, 2000
as Recording No. 20001117000535 of Official Records.
13. Easement, including terms and provisions contained therein:
Recording Information: November 17, 2000 under Recording No. 20001117001232
In Favor of: City of Renton
For: Public sidewalk
14. Easement, including terms and provisions contained therein:
Recording Information: February 15, 2002 under Recording No. 20020215000114
In Favor of: TCI Cablevision of Washington, Inc. dba AT&T
For: Broadband communications services
15. Easement, including terms and provisions contained therein:
Recording Information: November 7, 2002 under Recording No. 20021107000669
In Favor of: Puget Sound Energy, Inc., a Washington Corporation
For: Utility systems for the purposes of transmission, distribution and
sale of gas and electricity
16. The terms and provisions contained in the document entitled "Pedestrian Walkway Easement
Agreement" recorded October 21, 2005 as Recording No. 20051021000895 of Official Records.
The terms and provisions contained in the document entitled "Supplemental Pedestrian Walkway
Easement Agreement" recorded February 8, 2016 as Recording No. 20160208000458 of Official
Records.
Form WA-5 (6/76) File No.: NCS-804030-WA1
Commitment Page No. 6
First American Title Insurance Company
17. Easement, including terms and provisions contained therein:
Recording Information: June 30, 2008 under Recording No. 20080630002054
In Favor of: City of Renton
For: Storm drainage lines and manholes
18. Easement, including terms and provisions contained therein:
Recording Information: June 30, 2008 under Recording No. 20080630002055
In Favor of: City of Renton
For: Sanitary sewer utilities and utility pipelines
19. The terms and provisions contained in the document entitled "Shared Use Agreement"
recorded July 7, 2008 as Recording No. 20080707001037 of Official Records.
20. The terms and provisions contained in the document entitled "Easement Agreement"
recorded August 28, 2009 as Recording No. 20090828001337 of Official Records.
21. A Line of Credit Deed of Trust to secure an original indebtedness of $27,650,000.00 recorded
April 29, 2014 as Recording No. 20140429000812 of Official Records.
Dated: April 29, 2014
Trustor: The Bristol at Southport, LLC, a Washington limited liability company
Trustee: First American Title Insurance Company
Beneficiary: The Variable Annuity Life Insurance Company, a Texas corporation and American Home Assuran
Company, a New York corporation
22. The terms and provisions contained in the document entitled "Temporary Airspace Easement
Agreement" recorded February 19, 2015 as Recording No. 20150219000534 of Official Records.
Term: 30 months from start of construction
23. Any question that may arise due to the shifting and/or changing in the course of Lake
Washington.
24. Right of the State of Washington in and to that portion, if any, of the property herein described
which lies below the line of ordinary high water of Lake Washington.
25. Rights of the general public to the unrestricted use of all the waters of a navigable body of water
not only for the primary purpose of navigation, but also for corollary purposes; including (but not
limited to) fishing, boating, bathing, swimming, water skiing and other related recreational
purposes, as those waters may affect the tidelands, shorelands or adjoining uplands and whether
the level of the water has been raised naturally or artificially to a maintained or fluctuating level,
all as further defined by the decisional law of this state. (Affects all of the premises subject to
such submergence)
26. Evidence of the authority of the individual(s) to execute the forthcoming document for The Bristol
at Southport, LLC, a Washington limited liability company, copies of the current operating
agreement should be submitted prior to closing.
27. Prior to issuance of an extended coverage policy, the Company will require an Owner's Affidavit
be completed and submitted to the Company for approval prior to closing. The Company
reserves the right to make any additional requirement as warranted.
Form WA-5 (6/76) File No.: NCS-804030-WA1
Commitment Page No. 7
First American Title Insurance Company
28. Matters of extended owner/purchaser coverage which are dependent upon an inspection and an
ALTA survey of the property for determination of insurability.
Please submit a copy of the ALTA Survey at your earliest convenience for review. Our inspection
will be held pending our review of the ALTA Survey and the result of said inspection will be
furnished by supplemental report.
29. Unrecorded leaseholds, if any, rights of vendors and security agreement on personal property
and rights of tenants, and secured parties to remove trade fixtures at the expiration of the term.
Form WA-5 (6/76) File No.: NCS-804030-WA1
Commitment Page No. 8
First American Title Insurance Company
INFORMATIONAL NOTES
A. 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.
B. Any sketch attached hereto is done so as a courtesy only and is not part of any title commitment
or policy. It is furnished solely for the purpose of assisting in locating the premises and First
American expressly disclaims any liability which may result from reliance made upon it.
C. The description can be abbreviated as suggested below if necessary to meet standardization
requirements. The full text of the description must appear in the document(s) to be insured.
Lot 2, SP No. LUA-99-134-SHPL, Rec. 20000131900006
APN: 052305-9076-03
Property Address: 1083 Lake Washington Boulevard, North, Renton, WA 98056
D. A fee will be charged upon the cancellation of this Commitment pursuant to the Washington
State Insurance Code and the filed Rate Schedule of the Company.
END OF SCHEDULE B
Form WA-5 (6/76) File No.: NCS-804030-WA1
Commitment Page No. 9
First American Title Insurance Company
First American Title Insurance Company
National Commercial Services
COMMITMENT
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 a 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 or reliance hereon to the extent the Company is prejudiced by
failure to so disclose such knowledge. If the proposed Insured shall disclosure 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, exclusion
from coverage, and the Conditions and Stipulations of the form of Policy or Policies committed for
in favor of the proposed Insured which are hereby incorporated by references, and are made a
part of this Commitment except as expressly modified herein.
4. Any claim of loss or damage, whether or not based on negligence, and which arises out of the
status of the title to the estate or interest or the lien of the Insured mortgage covered hereby or
any action asserting such claim, shall be restricted to the provisions and Conditions and
Stipulations of this Commitment.
Form WA-5 (6/76) File No.: NCS-804030-WA1
Commitment Page No. 10
First American Title Insurance Company
The First American Corporation
First American Title Insurance Company
National Commercial Services
PRIVACY POLICY
We Are Committed to Safeguarding Customer Information
In order to better serve your needs now and in the future, we may ask you to provide us with certain information. We understand that you may be concerned about what we will do with such information particularly any personal or financial information. We agree that you have a right to know how we will utilize the personal information you provide to us. Therefore, together with our parent company, The First American Corporation, we have adopted this Privacy Policy to govern the use and handling of your personal information.
Applicability
This Privacy Policy governs our use of the information which you provide to us. It does not govern the manner in which we may use information we
have obtained from any other source, such as information obtained from a public record or from another person or entity. First American has also
adopted broader guidelines that govern our use of personal information regardless of its source. First American calls these guidelines its Fair
Information Values, a copy of which can be found on our website at www.firstam.com.
Types of Information
Depending upon which of our services you are utilizing, the types of nonpublic personal information that we may collect include:
• Information we receive from you on applications, forms and in other communications to us, whether in writing, in person, by
telephone or any other means;
• Information about your transactions with us, our affiliated companies, or others; and·
• Information we receive from a consumer reporting agency.
Use of Information
We request information from you for our own legitimate business purposes and not for the benefit of any nonaffiliated party. Therefore, we will not release your information to nonaffiliated parties except: (1) as necessary for us to provide the product or service you have requested of us; or (2) as permitted by law. We may, however, store such information indefinitely, including the period after which any customer relationship has ceased. Such information may be used for any internal purpose, such as quality control efforts or customer analysis. We may also provide all of the types of
nonpublic personal information listed above to one or more of our affiliated companies. Such affiliated companies include financial service providers,
such as title insurers, property and casualty insurers, and trust and investment advisory companies, or companies involved in real estate services, such
as appraisal companies, home warranty companies, and escrow companies. Furthermore, we may also provide all the information we collect, as
described above, to companies that perform marketing services on our behalf, on behalf of our affiliated companies, or to other financial institutions
with whom we or our affiliated companies have joint marketing agreements.
Former Customers
Even if you are no longer our customer, our Privacy Policy will continue to apply to you.
Confidentiality and Security
We will use our best efforts to ensure that no unauthorized parties have access to any of your information. We restrict access to nonpublic personal information about you to those individuals and entities who need to know that information to provide products or services to you. We will use our best efforts to train and oversee our employees and agents to ensure that your information will be handled responsibly and in accordance with this Privacy Policy and First American's Fair Information Values. We currently maintain physical, electronic, and procedural safeguards that comply with federal regulations to guard your nonpublic personal information.
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