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HomeMy WebLinkAbout03A_022015 1601 title commitment COMMERCIAL SERVICES 600 University St., Suite 2424 Seattle, WA 98101 Phone: 206-262-6291 Email: marc.wise@fnf.com 27C101 (6/06) ALTA Commitment – 2006 Copyright American Land Title Association. All rights reserved. The use of this Form is restricted to ALTA licensees and ALTA members in good standing as of the date of use. All other uses are prohibited. Reprinted under license from the American Land Title Association. CCOOMMMMIITTMMEENNTT FFOORR TTIITTLLEE IINNSSUURRAANNCCEE Issued by Fidelity National Title of Washington, Inc., as agent for Fidelity National Title Insurance Company Fidelity National Title of Washington, Inc., as agent for Fidelity National Title Insurance Company, a California corporation (“Company”), for a valuable consideration, 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 mortgagee of the estate or interest in the land described or referred to in Schedule A, upon payment of the premiums and charges and compliance with the Requirements; all subject to the provisions of Schedules A and B and to the Conditions of this Commitment. 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 by the Company. All liability and obligation under this Commitment shall cease and terminate 6 months after the Effective Date or when the policy or policies committed for shall issue, whichever first occurs, provided that the failure to issue the policy or policies is not the fault of the Company. The Company will provide a sample of the policy form upon request. IN WITNESS WHEREOF, Fidelity National Title Insurance Company, through its agent, Fidelity National Title of Washington, Inc., has caused its corporate name and seal to be affixed by its duly authorized officers on the date shown in Schedule A. Fidelity National Title of Washington, Inc., as agent for Fidelity National Title Insurance Company By: Authorized Signature 27C101A (6/06) 1 ALTA Commitment – 2006 Copyright American Land Title Association. All rights reserved. The use of this Form is restricted to ALTA licensees and ALTA members in good standing as of the date of use. All other uses are prohibited. Reprinted under license from the American Land Title Association. Fidelity National Title of Washington, Inc. SCHEDULE A Name and Address of Title Insurance Company: Fidelity National Title of Washington, Inc. 600 University St., Suite 2424 Seattle, WA 98101 Title Officer: Marc Wise Escrow No.: 20370762-410-T20 1. Effective Date: January 26, 2015 at 8:00 A.M. 2. Policy or Policies to be issued: ALTA 2006 Standard Owner's Policy Short Term Sale Rate Proposed Insured: TBD Amount: To Be Determined Premium: To Be Determined Tax: To Be Determined Total: To Be Determined Extended Surcharge: Premium: To Be Determined Tax: To Be Determined Total: To Be Determined 3. The estate or interest in the land described or referred to in this Commitment is: A FEE 4. Title to the FEE SIMPLE estate or interest in the land is at the Effective Date vested in: FP-FAA Seattle LLC, a Delaware limited liability company 5. The land referred to in this Commitment is described as follows: See Exhibit A attached hereto and made a part hereof. File No.: 20370762-410-T20 27C101A (6/06) 2 ALTA Commitment – 2006 Copyright American Land Title Association. All rights reserved. The use of this Form is restricted to ALTA licensees and ALTA members in good standing as of the date of use. All other uses are prohibited. Reprinted under license from the American Land Title Association. EXHIBIT A LEGAL DESCRIPTION PARCEL A: LOT 2, CITY OF RENTON SHORT PLAT NUMBER 431-79, ALSO KNOWN AS VALLEY OFFICE & INDUSTRIAL PARK-SUBDIVISION NO. 1, RECORDED UNDER RECORDING NUMBER 8002269013, IN KING COUNTY, WASHINGTON; EXCEPT THOSE PORTIONS THEREOF CONVEYED TO THE CITY OF RENTON FOR STREET PURPOSES BY DEEDS RECORDED UNDER RECORDING NUMBERS 8007070464, 8008200077 AND 8202160354. PARCEL B: LOTS 1 AND 3 CITY OF RENTON SHORT PLAT 431-79, ALSO KNOWN AS VALLEY OFFICE & INDUSTRIAL PARK-SUBDIVISION NO. 1, RECORDED UNDER RECORDING NUMBER 8002269013, IN KING COUNTY, WASHINGTON; EXCEPT THE EAST 240.06 FEET OF LOT 1 (ALSO BEING KNOWN AS LOT 3 OF CITY OF RENTON LOT LINE ADJUSTMENT NUMBER LLA 001-89, RECORDED UNDER KING COUNTY RECORDING NUMBER 8905059001). SITUATE IN THE CITY OF RENTON, COUNTY OF KING, STATE OF WASHINGTON. File No.: 20370762-410-T20 27C101BI (6/06) 3 ALTA Commitment – 2006 Copyright American Land Title Association. All rights reserved. The use of this Form is restricted to ALTA licensees and ALTA members in good standing as of the date of use. All other uses are prohibited. Reprinted under license from the American Land Title Association. SCHEDULE B – SECTION I REQUIREMENTS 1. INSTRUMENTS NECESSARY TO CREATE THE ESTATE OR INTEREST MUST BE PROPERLY EXECUTED, DELIVERED AND DULY FILED FOR THE RECORD. 2. PAYMENT TO OR FOR THE ACCOUNT OF THE GRANTORS OR MORTGAGORS OF THE FULL CONSIDERATION FOR THE ESTATE OR INTEREST TO BE INSURED. SCHEDULE B OF THIS 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. GENERAL EXCEPTIONS A. RIGHTS OR CLAIMS OF PARTIES IN POSSESSION, OR CLAIMING POSSESSION, NOT SHOWN BY THE PUBLIC RECORDS. B. 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. C. EASEMENTS, PRESCRIPTIVE RIGHTS, RIGHTS-OF-WAY, LIENS OR ENCUMBRANCES, OR CLAIMS THEREOF, NOT SHOWN BY THE PUBLIC RECORDS. D. ANY LIEN, OR RIGHT TO A LIEN, FOR CONTRIBUTIONS TO EMPLOYEE BENEFIT FUNDS, OR FOR THE STATE WORKERS’ COMPENSATION, OR FOR SERVICES, LABOR, OR MATERIAL HERETOFORE OR HEREAFTER FURNISHED, ALL AS IMPOSED BY LAW, AND NOT SHOWN BY THE PUBLIC RECORDS. E. TAXES OR SPECIAL ASSESSMENTS WHICH ARE NOT YET PAYABLE OR WHICH ARE SHOWN AS EXISTING LIENS BY THE PUBLIC RECORDS. F. ANY LIEN FOR SERVICE, INSTALLATION, CONNECTION, MAINTENANCE, TAP, CAPACITY, OR CONSTRUCTION OR SIMILAR CHARGES FOR SEWER, WATER, ELECTRICITY, NATURAL GAS OR OTHER UTILITIES, OR FOR GARBAGE COLLECTION AND DISPOSAL NOT SHOWN BY THE PUBLIC RECORDS. G. UNPATENTED MINING CLAIMS, AND ALL RIGHTS RELATING THERETO. H. RESERVATIONS AND EXCEPTIONS IN UNITED STATES PATENTS OR IN ACTS AUTHORIZING THE ISSUANCE THEREOF. I. INDIAN TRIBAL CODES OR REGULATION, INDIAN TREATY OR ABORIGINAL RIGHTS, INCLUDING EASEMENT OR EQUITABLE SERVITUDES. J. WATER RIGHTS, CLAIMS OR TITLE TO WATER. K. 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 MORTGAGE THEREON COVERED BY THIS COMMITMENT. END OF SCHEDULE B – SECTION I File No.: 20370762-410-T20 27C101BII (6/06) 4 ALTA Commitment – 2006 Copyright American Land Title Association. All rights reserved. The use of this Form is restricted to ALTA licensees and ALTA members in good standing as of the date of use. All other uses are prohibited. Reprinted under license from the American Land Title Association. SCHEDULE B – SECTION II EXCEPTIONS 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. REAL ESTATE EXCISE TAX PURSUANT TO THE AUTHORITY OF RCW CHAPTER 82.45 AND SUBSEQUENT AMENDMENTS THERETO. AS OF THE DATE HEREIN, THE TAX RATE FOR SAID PROPERTY IS 1.78% . FOR ALL TRANSACTIONS RECORDED ON OR AFTER JULY 1, 2005: · A FEE OF $10.00 WILL BE CHARGED ON ALL EXEMPT TRANSACTIONS; · A FEE OF $5.00 WILL BE CHARGED ON ALL TAXABLE TRANSACTIONS IN ADDITION TO THE EXCISE TAX DUE; 2. GENERAL PROPERTY TAXES AND SERVICE CHARGES, AS FOLLOWS, TOGETHER WITH INTEREST, PENALTY AND STATUTORY FORECLOSURE COSTS, IF ANY, AFTER DELINQUENCY: (1ST HALF DELINQUENT ON MAY 1; 2ND HALF DELINQUENT ON NOVEMBER 1) TAX ACCOUNT NO.: 334040 4006 YEAR BILLED PAID BALANCE 2015 $401,675.80 $0.00 $401,675.80 TOTAL AMOUNT DUE, NOT INCLUDING INTEREST AND PENALTY: $401,675.80. LEVY CODE: 2100 ASSESSED VALUE LAND: $4,262,900.00 ASSESSED VALUE IMPROVEMENTS: $27,521,000.00 AFFECTS: PARCEL A 3. GENERAL TAXES, AS FOLLOWS, TOGETHER WITH INTEREST, PENALTY AND STATUTORY FORECLOSURE COSTS, IF ANY, AFTER DELINQUENCY: (1ST HALF DELINQUENT ON MAY 1; 2ND HALF DELINQUENT ON NOVEMBER 1) TAX ACCOUNT NO.: 334040 4004 YEAR BILLED PAID BALANCE 2015 $17,026.26 $0.00 $17,619.99 TOTAL AMOUNT DUE, NOT INCLUDING INTEREST AND PENALTY: $17,026.26. LEVY CODE: 2100 ASSESSED VALUE LAND: $946,600.00 ASSESSED VALUE IMPROVEMENTS: $444,900.00 AFFECTS; LOT OF PARCEL B File No.: 20370762-410-T20 SCHEDULE B – Section II (Continued) 27C101BII (6/06) 5 ALTA Commitment – 2006 Copyright American Land Title Association. All rights reserved. The use of this Form is restricted to ALTA licensees and ALTA members in good standing as of the date of use. All other uses are prohibited. Reprinted under license from the American Land Title Association. 4. GENERAL TAXES, AS FOLLOWS, TOGETHER WITH INTEREST, PENALTY AND STATUTORY FORECLOSURE COSTS, IF ANY, AFTER DELINQUENCY: (1ST HALF DELINQUENT ON MAY 1; 2ND HALF DELINQUENT ON NOVEMBER 1) TAX ACCOUNT NO.: 334040 4003 YEAR BILLED PAID BALANCE 2015 $22,073.45 $0.00 $23,480.29 TOTAL AMOUNT DUE, NOT INCLUDING INTEREST AND PENALTY: $23,480.29. LEVY CODE: 2100 ASSESSED VALUE LAND: $1,853,400.00 ASSESSED VALUE IMPROVEMENTS: $0.00 AFFECTS: LOT 3 OF PARCEL B 5. EASEMENT FOR UNDERGROUND ELECTRIC SYSTEM AND THE TERMS AND CONDITIONS THEREOF: GRANTEE: PUGET SOUND POWER & LIGHT COMPANY, A WASHINGTON CORPORATION AREA AFFECTED: THE WESTERLY PORTION OF PARCEL A RECORDED: OCTOBER 24, 1978 RECORDING NO.: 7810240814 CONTAINS COVENANT PROHIBITING STRUCTURES OVER SAID EASEMENT OR OTHER ACTIVITY WHICH MIGHT ENDANGER THE UNDERGROUND SYSTEM 6. EASEMENT FOR UNDERGROUND ELECTRIC SYSTEM AND THE TERMS AND CONDITIONS THEREOF: GRANTEE: PUGET SOUND POWER & LIGHT COMPANY, A WASHINGTON CORPORATION AREA AFFECTED: A PORTION OF SAID PREMISES RECORDED: FEBRUARY 1, 1980 RECORDING NO.: 8002010480 CONTAINS COVENANT PROHIBITING STRUCTURES OVER SAID EASEMENT OR OTHER ACTIVITY WHICH MIGHT ENDANGER THE UNDERGROUND SYSTEM SAID INSTRUMENT IS A RE-RECORD OF THE INSTRUMENT RECORDED ON SEPTEMBER 7, 1979, UNDER RECORDING NO. 7909070696. 7. ALL COVENANTS, CONDITIONS, RESTRICTIONS, RESERVATIONS, EASEMENTS OR OTHER SERVITUDES, IF ANY, DISCLOSED BY THE SHORT PLAT NO. 431-79 RECORDED UNDER RECORDING NO. 8002269013. THIS POLICY DOES NOT INSURE THAT THE LAND DESCRIBED IN SCHEDULE A IS BENEFITED BY EASEMENTS, COVENANTS OR OTHER APPURTENANCES SHOWN ON THE PLAT OR SURVEY TO BENEFIT OR BURDEN REAL PROPERTY OUTSIDE THE BOUNDARIES OF SAID LAND. 8. RIGHT TO MAKE NECESSARY SLOPES FOR CUTS OR FILLS UPON THE LAND HEREIN DESCRIBED AS GRANTED TO CITY OF RENTON BY DEED RECORDED UNDER RECORDING NO. 8202160354. File No.: 20370762-410-T20 SCHEDULE B – Section II (Continued) 27C101BII (6/06) 6 ALTA Commitment – 2006 Copyright American Land Title Association. All rights reserved. The use of this Form is restricted to ALTA licensees and ALTA members in good standing as of the date of use. All other uses are prohibited. Reprinted under license from the American Land Title Association. 9. ALL COVENANTS, CONDITIONS, RESTRICTIONS, RESERVATIONS, EASEMENTS OR OTHER SERVITUDES, IF ANY, DISCLOSED BY THE BOUNDARY LINE ADJUSTMENT RECORDED UNDER RECORDING NO. 8905059001. THIS POLICY DOES NOT INSURE THAT THE LAND DESCRIBED IN SCHEDULE A IS BENEFITED BY EASEMENTS, COVENANTS OR OTHER APPURTENANCES SHOWN ON THE PLAT OR SURVEY TO BENEFIT OR BURDEN REAL PROPERTY OUTSIDE THE BOUNDARIES OF SAID LAND. 10. DRAINAGE EASEMENT AND THE TERMS AND CONDITIONS THEREOF: GRANTEE: PUGET SOUND POWER & LIGHT COMPANY, A WASHINGTON CORPORATION PURPOSE: DRAIN PIPE AREA AFFECTED: THE SOUTH 20 FEET OF LOT 1 OF PARCEL B RECORDED: MAY 9, 1989 RECORDING NO.: 8905091103 11. EASEMENT FOR UNDERGROUND ELECTRIC SYSTEM AND THE TERMS AND CONDITIONS THEREOF: GRANTEE: PUGET SOUND POWER & LIGHT COMPANY, A WASHINGTON CORPORATION PURPOSE: ELECTRICAL TRANSMISSION AND/OR DISTRIBUTION SYSTEM AREA AFFECTED: NORTH 30 FEET OF LOT 1 OF PARCEL B RECORDED: MAY 9, 1989 RECORDING NO.: 8905091104 CONTAINS COVENANT PROHIBITING STRUCTURES OVER SAID EASEMENT OR OTHER ACTIVITY WHICH MIGHT ENDANGER THE UNDERGROUND SYSTEM 12. EASEMENT FOR UNDERGROUND ELECTRIC SYSTEM AND THE TERMS AND CONDITIONS THEREOF: GRANTEE: PUGET SOUND POWER & LIGHT COMPANY, A WASHINGTON CORPORATION AREA AFFECTED: A PORTION OF SAID PREMISES RECORDED: JANUARY 8, 1990 RECORDING NO.: 9001080850 CONTAINS COVENANT PROHIBITING STRUCTURES OVER SAID EASEMENT OR OTHER ACTIVITY WHICH MIGHT ENDANGER THE UNDERGROUND SYSTEM 13. SEWER GRADE RELEASE AND THE TERMS AND CONDITIONS THEREOF: RECORDED: JANUARY 26, 1990 RECORDING NO.: 9001260175 REGARDING: PERMIT TO CONSTRUCT A SIDE SEWER 14. EASEMENT AND THE TERMS AND CONDITIONS THEREOF: GRANTEE: CITY OF RENTON, A MUNICIPAL CORPORATION PURPOSE: PUBLIC UTILITIES AREA AFFECTED: WESTERLY AND SOUTHERLY PORTIONS OF PARCEL A RECORDED: SEPTEMBER 27, 1990 RECORDING NO.: 9009271242 File No.: 20370762-410-T20 SCHEDULE B – Section II (Continued) 27C101BII (6/06) 7 ALTA Commitment – 2006 Copyright American Land Title Association. All rights reserved. The use of this Form is restricted to ALTA licensees and ALTA members in good standing as of the date of use. All other uses are prohibited. Reprinted under license from the American Land Title Association. 15. EASEMENT FOR ROADWAY SLOPES AND SIDEWALK AREAS AND THE TERMS AND CONDITIONS THEREOF: GRANTEE: CITY OF RENTON AREA AFFECTED: EASTERLY PORTIONS OF PARCEL A RECORDED: SEPTEMBER 27, 1990 RECORDING NO.: 9009271243 16. EASEMENT FOR UNDERGROUND ELECTRIC SYSTEM AND THE TERMS AND CONDITIONS THEREOF: GRANTEE: PUGET SOUND POWER & LIGHT COMPANY AREA AFFECTED: PORTION OF LOT 1 OF PARCEL B RECORDED: OCTOBER 13. 1994 RECORDING NO.: 9410130691 CONTAINS COVENANT PROHIBITING STRUCTURES OVER SAID EASEMENT OR OTHER ACTIVITY WHICH MIGHT ENDANGER THE UNDERGROUND SYSTEM 17. EASEMENT AND THE TERMS AND CONDITIONS THEREOF: GRANTEE: CITY OF RENTON, MUNICIPAL CORPORATION PURPOSE: PUBLIC UTILITIES AREA AFFECTED: THE SOUTH 15 FEET OF THE NORTH 67 FEET OF THE WEST 28 FEET OF THAT PORTION OF LOT 1 OF PARCEL B RECORDED: NOVEMBER 18, 1994 RECORDING NO.: 9411180113 18. MEMORANDUM OF LICENSE: LICENSOR: RENTON ACQUISITION, LLC, A DELAWARE LIMITED LIABILITY COMPANY LICENSEE: WASHINGTON STATE DEPARTMENT OF TRANSPORTATION DATED: SEPTEMBER 29, 2008 RECORDED: MAY 14, 2009 RECORDING NO.: 20090514000417 AFFECTS: PARCEL A THE LICENSE WAS AMENDED BY INSTRUMENT: RECORDED: JULY 29, 2013 RECORDING NO.: 20130729001900 19. DEED OF TRUST, SECURITY AGREEMENT AND FIXTURE FILING AND THE TERMS AND CONDITIONS THEREOF: GRANTOR: FP-FAA SEATTLE LLC, A DELAWARE LIMITED LIABILITY COMPANY TRUSTEE: FIDELITY NATIONAL TITLE INSURANCE COMPANY BENEFICIARY: NLI COMMERCIAL FUND II, LLC, A DELAWARE LIMITED LIABILITY COMPANY ORIGINAL AMOUNT: $17,000,000.00 DATED: FEBRUARY 1, 2012 RECORDED: FEBRUARY 1, 2012 RECORDING NO.: 20120201001142 File No.: 20370762-410-T20 SCHEDULE B – Section II (Continued) 27C101BII (6/06) 8 ALTA Commitment – 2006 Copyright American Land Title Association. All rights reserved. The use of this Form is restricted to ALTA licensees and ALTA members in good standing as of the date of use. All other uses are prohibited. Reprinted under license from the American Land Title Association. 20. ABSOLUTE ASSIGNMENT OF LEASES AND RENTS AND THE TERMS AND CONDITIONS THEREOF: ASSIGNOR: FP-FAA SEATTLE LLC, A DELAWARE LIMITED LIABILITY COMPANY ASSIGNEE: NLI COMMERCIAL MORTGAGE FUND II, LLC, A DELAWARE LIMITED LIABILITY COMPANY DATED: FEBRUARY 1, 2012 RECORDED: FEBRUARY 1, 2012 RECORDING NO.: 20120201001143 21. UNRECORDED LEASE: LESSOR: FP-FAA SEATTLE LLC LESSEE: UNITED STATES OF AMERICA DATE: JUNE 1, 1990 DISCLOSED BY: SUBORDINATION, NONDISTURBANCE AND ATTORNMENT AGREEMENT RECORDED UNDER RECORDING NUMBER 20120206001108 SUBORDINATION, NONDISTURBANCE AND ATTORNMENT AGREEMENT AND THE TERMS AND CONDITIONS THEREOF: BY AGREEMENT DATED: JANUARY 31, 2012 RECORDED: FEBRUARY 6, 2012 RECORDING NO.: 20120206001108 THE LESSEE'S INTEREST IN SAID LEASE WAS MADE SUBORDINATE TO THE DEED OF TRUST RECORDED UNDER RECORDING NO. 20120201001142, SET FORTH AT PARAGRAPH 19 HEREIN. 22. UNRECORDED LEASEHOLDS, IF ANY; RIGHTS OF VENDORS AND HOLDERS OF SECURITY INTERESTS ON PERSONAL PROPERTY INSTALLED UPON THE LAND; AND RIGHTS OF TENANTS TO REMOVE TRADE FIXTURES AT THE EXPIRATION OF THE TERM. 23. ALTA SURVEY PREPARED BY BUSH, ROED & HITCHINGS., ON SEPTEMBER 21, 2011, UNDER JOB NO. 2007163.05, DISCLOSES THE FOLLOWING: A) ENCROACHMENT OF WESTERLY CORNER OF BUILDING SLIGHTLY INTO EASEMENT NUMBER 9001080850 SHOWN AT PARAGRAPH 12 ABOVE. B) ENCROACHMENT OF WESTERLY PORTION OF BUILDING INTO EASEMENT NUMBER 9009271242 SHOWN AT PARAGRAPH 14 ABOVE. 24. MATTERS RELATING TO QUESTIONS OF SURVEY, RIGHTS OF PARTIES IN POSSESSION, AND UNRECORDED LIENS FOR LABOR OR MATERIAL. AN ALTA "AS-BUILT" SURVEY MUST BE FURNISHED TO THIS COMPANY WHICH SHOWS THE LOCATION OF ALL IMPROVEMENTS AND REVEALS ALL ENCROACHMENTS, DRIVEWAYS AND EASEMENTS WHICH ENCUMBER THE PROPERTY. WE WILL REVIEW THE SURVEY AND MAKE AN INSPECTION OF THE PREMISES, AND WILL REPORT THE RESULTS OF BOTH THE REVIEW AND THE INSPECTION BY SUPPLEMENTAL REPORT. END OF SCHEDULE B – SECTION II File No.: 20370762-410-T20 27C101 Notes (6/06) 9 ALTA Commitment – 2006 Copyright American Land Title Association. All rights reserved. The use of this Form is restricted to ALTA licensees and ALTA members in good standing as of the date of use. All other uses are prohibited. Reprinted under license from the American Land Title Association. NOTES NOTE 1: WE ARE INFORMED THAT FP-FAA SEATTLE LLC IS A LIMITED LIABILITY COMPANY (LLC). A COPY OF THE DUPLICATE ORIGINAL OF THE FILED LLC CERTIFICATE OF FORMATION, THE LLC AGREEMENT, AND ALL SUBSEQUENT MODIFICATIONS OR AMENDMENTS MUST BE SUBMITTED TO THE COMPANY FOR REVIEW. NOTE 2: ANY CONVEYANCE OR MORTGAGE BY FP-FAA SEATTLE LLC, A LIMITED LIABILITY COMPANY (LLC), MUST BE EXECUTED BY ALL THE MEMBERS, OR EVIDENCE SUBMITTED THAT CERTAIN DESIGNATED MEMBERS OR MANAGERS HAVE BEEN AUTHORIZED TO ACT FOR THE LIMITED LIABILITY COMPANY. NOTE 3: THE COMPANY HAS BEEN ASKED TO ISSUE AN OWNER’S POLICY WITHOUT DISCLOSURE OF THE LIABILITY AMOUNT. THIS COMMITMENT SHALL BE EFFECTIVE ONLY WHEN THE AMOUNT OF THE POLICY COMMITTED FOR HAS BEEN INSERTED IN SCHEDULE A HEREOF. THE FORTHCOMING POLICY MUST BE ISSUED IN AN AMOUNT AT LEAST EQUAL TO THE FULL VALUE OF THE ESTATE INSURED IN ACCORDANCE WITH OUR RATING SCHEDULE ON FILE IN THE OFFICE OF THE WASHINGTON STATE INSURANCE COMMISSIONER. THE COMPANY MAY HAVE FURTHER REQUIREMENTS IF THE UNDISCLOSED AMOUNT TO BE INSURED EXCEEDS THE CURRENT ASSESSED VALUATION. NOTE 4: TITLE WILL BE VESTED IN PARTIES YET TO BE DISCLOSED. WHEN TITLE IS VESTED, THEIR TITLE WILL BE SUBJECT TO MATTERS OF RECORD, IF ANY, AGAINST THEIR NAMES. NOTE 5: BASED ON INFORMATION PROVIDED TO THE COMPANY, ON THE DATE OF THIS COMMITMENT IT APPEARS THAT THERE IS LOCATED ON THE LAND: COMMERCIAL/INDUSTRIAL STRUCTURE(S) KNOWN AS: 1601 LIND AVENUE SW AND 1602 & 1650 RAYMOND AVE SW RENTON, WA 98057 NOTE 6: IF YOU WOULD LIKE THE COMPANY TO ACT AS TRUSTEE IN THE PROPOSED DEED OF TRUST, PLEASE NOTE THAT " FIDELITY NATIONAL TITLE OF WASHINGTON, INC." MAY ACT AS TRUSTEE OF A DEED OF TRUST UNDER RCW 61.24.010(1). NOTE 7: THE COMPANY REQUIRES THE PROPOSED INSURED TO VERIFY THAT THE LAND COVERED BY THIS COMMITMENT IS THE LAND INTENDED TO BE CONVEYED IN THIS TRANSACTION. THE DESCRIPTION OF THE LAND MAY BE INCORRECT, IF THE APPLICATION FOR TITLE INSURANCE CONTAINED INCOMPLETE OR INACCURATE INFORMATION. NOTIFY THE COMPANY WELL BEFORE CLOSING IF CHANGES ARE NECESSARY. CLOSING INSTRUCTIONS MUST INDICATE THAT THE LEGAL DESCRIPTION HAS BEEN REVIEWED AND APPROVED BY ALL PARTIES. NOTE 8: THE FOLLOWING MAY BE USED AS AN ABBREVIATED LEGAL DESCRIPTION ON THE DOCUMENTS TO BE RECORDED, PER AMENDED RCW 65.04. SAID ABBREVIATED LEGAL DESCRIPTION IS NOT A SUBSTITUTE FOR A COMPLETE LEGAL DESCRIPTION WITHIN THE BODY OF THE DOCUMENT. PTN LOT 1, ALL LOTS 2-3 SHORT PLAT 431-79 REC # 8002269013 File No.: 20370762-410-T20 NOTES (Continued) 27C101 Notes (6/06) 10 ALTA Commitment – 2006 Copyright American Land Title Association. All rights reserved. The use of this Form is restricted to ALTA licensees and ALTA members in good standing as of the date of use. All other uses are prohibited. Reprinted under license from the American Land Title Association. NOTE 9: IN THE EVENT THAT THE COMMITMENT JACKET IS NOT ATTACHED HERETO, ALL OF THE TERMS, CONDITIONS AND PROVISIONS CONTAINED IN SAID JACKET ARE INCORPORATED HEREIN. THE COMMITMENT JACKET IS AVAILABLE FOR INSPECTION AT ANY COMPANY OFFICE. NOTE 10: THE POLICY(S) OF INSURANCE MAY CONTAIN A CLAUSE PERMITTING ARBITRATION OF CLAIMS AT THE REQUEST OF EITHER THE INSURED OR THE COMPANY. UPON REQUEST, THE COMPANY WILL PROVIDE A COPY OF THIS CLAUSE AND THE ACCOMPANYING ARBITRATION RULES PRIOR TO THE CLOSING OF THE TRANSACTION. NOTE 11: PRIOR TO CLOSING PLEASE CONTACT YOUR TITLE OFFICER FOR CURRENT COURIER AND/OR ACCOMMODATION FEES WHICH MAY BE CHARGED FOR RECORDING RUNS. END OF NOTES 27C101 (6/06) 11 ALTA Commitment – 2006 Copyright American Land Title Association. All rights reserved. The use of this Form is restricted to ALTA licensees and ALTA members in good standing as of the date of use. All other uses are prohibited. Reprinted under license from the American Land Title Association. CONDITIONS 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 acquired actual knowledge of any 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 of reliance hereon to the extent the Company is prejudiced by failure to so disclose such knowledge. If the proposed Insured shall disclose 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. 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 and Conditions and the Exclusions from Coverage of the form of policy or policies committed for in favor of the proposed Insured which are hereby incorporated by reference and are made a part of this Commitment except as expressly modified herein. 4. This Commitment is a contract to issue one or more title insurance policies and is not an abstract of title or a report of the condition of title. Any action or actions or rights of action that the proposed Insured may have or may bring against the Company arising out of the status of the title to the estate or interest or the status of the mortgage thereon covered by this Commitment must be based on and are subject to the provisions of this Commitment. 5. The policy to be issued contains an arbitration clause. All arbitrable matters when the Amount of Insurance is $2,000,000 or less shall be arbitrated at the option of either the Company or the Insured as the exclusive remedy of the parties. You may review a copy of the arbitration rules at <http://www.alta.org/>. 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In the course of our business, we may collect Personal Information about you from the following sources: · Applications or other forms we receive from you or your authorized representative; · Information we receive from you through the Website; · Information about your transactions with or services performed by us, our affiliates, or others; and · From consumer or other reporting agencies and public records maintained by governmental entities that we either obtain directly from those entities, or from our affiliates or others. Additional Ways Information is Collected Through the Website Browser Log Files. Our servers automatically log each visitor to the Website and collect and record certain information about each visitor. This information may include IP address, browser language, browser type, operating system, domain names, browsing history (including time spent at a domain, time and date of your visit), referring/exit web pages and URLs, and number of clicks. The domain name and IP address reveal nothing personal about the user other than the IP address from which the user has accessed the Website. Cookies. From time to time, FNF or other third parties may send a “cookie” to your computer. A cookie is a small piece of data that is sent to your Internet browser from a web server and stored on your computer’s hard drive and that can be re-sent to the serving website on subsequent visits. A cookie, by itself, cannot read other data from your hard disk or read other cookie files already on your computer. A cookie, by itself, does not damage your system. We, our advertisers and other third parties may use cookies to identify and keep track of, among other things, those areas of the Website and third party websites that you have visited in the past in order to enhance your next visit to the Website. You can choose whether or not to accept cookies by changing the settings of your Internet browser, but some functionality of the Website may be impaired or not function as intended. See the Third Party Opt Out section below. Web Beacons. Some of our web pages and electronic communications may contain images, which may or may not be visible to you, known as Web Beacons (sometimes referred to as “clear gifs”). Web Beacons collect only limited information that includes a cookie number; time and date of a page view; and a description of the page on which the Web Beacon resides. We may also carry Web Beacons placed by third party advertisers. These Web Beacons do not carry any Personal Information and are only used to track usage of the Website and activities associated with the Website. See the Third Party Opt Out section below. Unique Identifier. We may assign you a unique internal identifier to help keep track of your future visits. We may use this information to gather aggregate demographic information about our visitors, and we may use it to personalize the information you see on the Website and some of the electronic communications you receive from us. We keep this information for our internal use, and this information is not shared with others. Third Party Opt Out. Although we do not presently, in the future we may allow third-party companies to serve advertisements and/or collect certain anonymous information when you visit the Website. These companies may use non- personally identifiable information (e.g., click stream information, browser type, time and date, subject of advertisements clicked or scrolled over) during your visits to the Website in order to provide advertisements about products and services likely to be of greater interest to you. These companies typically use a cookie or third party Web Beacon to collect this information, as further described above. Through these technologies, the third party may have access to and use non- personalized information about your online usage activity. You can opt-out of certain online behavioral services through any one of the ways described below. After you opt-out, you may continue to receive advertisements, but those advertisements will no longer be as relevant to you. · You can opt-out via the Network Advertising Initiative industry opt-out at http://www.networkadvertising.org. · You can opt-out via the Consumer Choice Page at http://www.aboutads.info. File No.: 20370762-410-T20 Privacy Notice Effective: January 6, 2015 · For those in the U.K., you can opt-out via the IAB UK's industry opt-out at http://www.youronlinechoices.com. · You can configure your web browser (Chrome, Firefox, Internet Explorer, Safari, etc.) to delete and/or control the use of cookies. More information can be found in the Help system of your browser. Note: If you opt-out as described above, you should not delete your cookies. If you delete your cookies, you will need to opt-out again. Use of Personal Information Information collected by FNF is used for three main purposes: · To provide products and services to you or one or more third party service providers (collectively, “Third Parties”) who are obtaining services on your behalf or in connection with a transaction involving you. · To improve our products and services that we perform for you or for Third Parties. · To communicate with you and to inform you about FNF’s, FNF’s affiliates and third parties’ products and services. When Information Is Disclosed By FNF We may provide your Personal Information (excluding information we receive from consumer or other credit reporting agencies) to various individuals and companies, as permitted by law, without obtaining your prior authorization. Such laws do not allow consumers to restrict these disclosures. Disclosures may include, without limitation, the following: · To agents, brokers, representatives, or others to provide you with services you have requested, and to enable us to detect or prevent criminal activity, fraud, material misrepresentation, or nondisclosure in connection with an insurance transaction; · To third-party contractors or service providers who provide services or perform marketing services or other functions on our behalf; · To law enforcement or other governmental authority in connection with an investigation, or civil or criminal subpoenas or court orders; and/or · To lenders, lien holders, judgment creditors, or other parties claiming an encumbrance or an interest in title whose claim or interest must be determined, settled, paid or released prior to a title or escrow closing. In addition to the other times when we might disclose information about you, we might also disclose information when required by law or in the good-faith belief that such disclosure is necessary to: (1) comply with a legal process or applicable laws; (2) enforce this Privacy Notice; (3) respond to claims that any materials, documents, images, graphics, logos, designs, audio, video and any other information provided by you violates the rights of third parties; or (4) protect the rights, property or personal safety of FNF, its users or the public. We maintain reasonable safeguards to keep the Personal Information that is disclosed to us secure. We provide Personal Information and non-Personal Information to our subsidiaries, affiliated companies, and other businesses or persons for the purposes of processing such information on our behalf and promoting the services of our trusted business partners, some or all of which may store your information on servers outside of the United States. We require that these parties agree to process such information in compliance with our Privacy Notice or in a similar, industry-standard manner, and we use reasonable efforts to limit their use of such information and to use other appropriate confidentiality and security measures. The use of your information by one of our trusted business partners may be subject to that party’s own Privacy Notice. We do not, however, disclose information we collect from consumer or credit reporting agencies with our affiliates or others without your consent, in conformity with applicable law, unless such disclosure is otherwise permitted by law. We also reserve the right to disclose Personal Information and/or non-Personal Information to take precautions against liability, investigate and defend against any third-party claims or allegations, assist government enforcement agencies, protect the security or integrity of the Website, and protect the rights, property, or personal safety of FNF, our users or others. We reserve the right to transfer your Personal Information, as well as any other information, in connection with the sale or other disposition of all or part of the FNF business and/or assets. We also cannot make any representations regarding the use or transfer of your Personal Information or other information that we may have in the event of our bankruptcy, reorganization, insolvency, receivership or an assignment for the benefit of creditors, and you expressly agree and consent to the use and/or transfer of your Personal Information or other information in connection with a sale or transfer of some or all of our assets in any of the above described proceedings. Furthermore, we cannot and will not be responsible for any breach of security by any third parties or for any actions of any third parties that receive any of the information that is disclosed to us. Information From Children We do not collect Personal Information from any person that we know to be under the age of thirteen (13). Specifically, the Website is not intended or designed to attract children under the age of thirteen (13). You affirm that you are either more than 18 years of age, or an emancipated minor, or possess legal parental or guardian consent, and are fully able and competent to enter into the terms, conditions, obligations, affirmations, representations, and warranties set forth in this Privacy Notice, and to abide by and comply with this Privacy Notice. In any case, you affirm that you are over the age of 13, as THE WEBSITE IS NOT INTENDED FOR CHILDREN UNDER 13 THAT ARE UNACCOMPANIED BY HIS OR HER PARENT OR LEGAL GUARDIAN. Parents should be aware that FNF’s Privacy Notice will govern our use of Personal Information, but also that information that is voluntarily given by children – or others – in email exchanges, bulletin boards or the like may be used by other parties to generate unsolicited communications. FNF encourages all parents to instruct their children in the safe and responsible use of their Personal Information while using the Internet. Privacy Outside the Website The Website may contain various links to other websites, including links to various third party service providers. FNF is File No.: 20370762-410-T20 Privacy Notice Effective: January 6, 2015 not and cannot be responsible for the privacy practices or the content of any of those other websites. Other than under agreements with certain reputable organizations and companies, and except for third party service providers whose services either we use or you voluntarily elect to utilize, we do not share any of the Personal Information that you provide to us with any of the websites to which the Website links, although we may share aggregate, non-Personal Information with those other third parties. Please check with those websites in order to determine their privacy policies and your rights under them. European Union Users If you are a citizen of the European Union, please note that we may transfer your Personal Information outside the European Union for use for any of the purposes described in this Privacy Notice. By providing FNF with your Personal Information, you consent to both our collection and such transfer of your Personal Information in accordance with this Privacy Notice. Choices With Your Personal Information Whether you submit Personal Information to FNF is entirely up to you. You may decide not to submit Personal Information, in which case FNF may not be able to provide certain services or products to you. You may choose to prevent FNF from disclosing or using your Personal Information under certain circumstances (“opt out”). You may opt out of any disclosure or use of your Personal Information for purposes that are incompatible with the purpose(s) for which it was originally collected or for which you subsequently gave authorization by notifying us by one of the methods at the end of this Privacy Notice. Furthermore, even where your Personal Information is to be disclosed and used in accordance with the stated purposes in this Privacy Notice, you may elect to opt out of such disclosure to and use by a third party that is not acting as an agent of FNF. As described above, there are some uses from which you cannot opt-out. Please note that opting out of the disclosure and use of your Personal Information as a prospective employee may prevent you from being hired as an employee by FNF to the extent that provision of your Personal Information is required to apply for an open position. If FNF collects Personal Information from you, such information will not be disclosed or used by FNF for purposes that are incompatible with the purpose(s) for which it was originally collected or for which you disclosure and use. You may opt out of online behavioral advertising by following the instructions set forth above under the above section “Additional Ways That Information Is Collected Through the Website,” subsection “Third Party Opt Out.” Access and Correction To access your Personal Information in the possession of FNF and correct inaccuracies of that information in our records, please contact us in the manner specified at the end of this Privacy Notice. We ask individuals to identify themselves and the information requested to be accessed and amended before processing such requests, and we may decline to process requests in limited circumstances as permitted by applicable privacy legislation. Your California Privacy Rights Under California’s “Shine the Light” law, California residents who provide certain personally identifiable information in connection with obtaining products or services for personal, family or household use are entitled to request and obtain from us once a calendar year information about the customer information we shared, if any, with other businesses for their own direct marketing uses. If applicable, this information would include the categories of customer information and the names and addresses of those businesses with which we shared customer information for the immediately prior calendar year (e.g., requests made in 2015 will receive information regarding 2014 sharing activities). To obtain this information on behalf of FNF, please send an email message to privacy@fnf.com with “Request for California Privacy Information” in the subject line and in the body of your message. We will provide the requested information to you at your email address in response. Please be aware that not all information sharing is covered by the “Shine the Light” requirements and only information on covered sharing will be included in our response. Additionally, because we may collect your Personal Information from time to time, California’s Online Privacy Protection Act requires us to disclose how we respond to “do not track” requests and other similar mechanisms. Currently, our policy is that we do not recognize “do not track” requests from Internet browsers and similar devices. No Representations or Warranties By providing this Privacy Notice, Fidelity National Financial, Inc. does not make any representations or warranties whatsoever concerning any products or services provided to you by its majority-owned subsidiaries. In addition, you also expressly agree that your use of the Website is at your own risk. Any services provided to you by Fidelity National Financial, Inc. and/or the Website are provided “as is” and “as available” for your use, without representations or warranties of any kind, either express or implied, unless such warranties are legally incapable of exclusion. Fidelity National Financial, Inc. makes no representations or warranties that any services provided to you by it or the Website, or any services offered in connection with the Website are or will remain uninterrupted or error-free, that defects will be corrected, or that the web pages on or accessed through the Website, or the servers used in connection with the Website, are or will remain free from any viruses, worms, time bombs, drop dead devices, Trojan horses or other harmful components. Any liability of Fidelity National Financial, Inc. and your exclusive remedy with respect to the use of any product or service provided by Fidelity National Financial, Inc. including on or accessed through the Website, will be the re- performance of such service found to be inadequate. Your Consent To This Privacy Notice By submitting Personal Information to FNF, you consent to the collection and use of information by us as specified above or as File No.: 20370762-410-T20 Privacy Notice Effective: January 6, 2015 we otherwise see fit, in compliance with this Privacy Notice, unless you inform us otherwise by means of the procedure identified below. If we decide to change this Privacy Notice, we will make an effort to post those changes on the Website. Each time we collect information from you following any amendment of this Privacy Notice will signify your assent to and acceptance of its revised terms for all previously collected information and information collected from you in the future. We may use comments, information or feedback that you may submit in any manner that we may choose without notice or compensation to you. If you have additional questions or comments, please let us know by sending your comments or requests to: Fidelity National Financial, Inc. 601 Riverside Avenue Jacksonville, Florida 32204 Attn: Chief Privacy Officer (888) 934-3354 privacy@fnf.com Copyright © 2015. Fidelity National Financial, Inc. All Rights Reserved. EFFECTIVE AS OF: JANUARY 6, 2015