HomeMy WebLinkAboutContract CAG-15-181
PURCHASE OPTION AGREEMENT
THIS PURCHASE OPTION AGREEMENT ("Agreement"), dated and effective as of
August 2 C , 2015 is made and entered into by and between the Housing Authority of the
City of Renton, a public body corporate and politic organized under the laws of the state of
Washington ("RHA"), and the City of Renton, a Washington municipal corporation ("City").
Recitals
WHEREAS, the City currently owns certain real property generally known as the
"Sunset Court Park" parcel which is located at 1104 Harrington Avenue NE, Renton,
Washington, and legally described in Exhibit A attached hereto and incorporated herein by
this reference(the "Property"); and
WHEREAS, the Property is part of a much larger redevelopment known as the Sunset
Area Community Revitalization and the Sunset Terrace Redevelopment ("Revitalization
Plan"); and
WHEREAS, the Revitalization Plan includes the development of a new 3.1-acre
Sunset Neighborhood Park on a portion of the site of the existing Sunset Terrace public
housing project; and
WHEREAS, RHA and the City have previously agreed that the development of the
new park will provide for the neighborhood's need for recreation and open space, and that the
Sunset Court Park is no longer needed as park space, and can be repurposed for housing; and
WHEREAS, the Property will be used by RHA to construct replacement housing for
the Sunset Terrace public housing project; and
WHEREAS, the Renton City Council adopted the Sunset Area Community
Revitalization Investment Strategy in 2009 which included supporting the Revitalization Plan
as the City's highest priority community revitalization investment strategy; and
WHEREAS, the Sunset Court Park site was included as a planned housing site for
RHA in the Sunset Area Planned Action Environmental Impact Statement adopted by the
Renton City Council in 2011; and
WHEREAS, the Sunset Court Park site was included as a planned housing site for
RHA in the Sunset Master Site Plan for the Sunset Terrace redevelopment adopted by the
Renton City Council; and
WHEREAS, RHA is applying for certain grants to fund the development of
replacement housing on the Sunset Court Park site and RHA needs to document site control
for such grants; and
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WHEREAS, pursuant to HUD regulations, site control can include an option to
purchase the Property which option is set forth in this Agreement;
NOW,THEREFORE, for good and valuable consideration, RHA and the City agree as
follow:
1. The City hereby grants RHA an exclusive option to purchase the Property for Eight
Hundred Thirty-Nine Thousand and No/100ths Dollars ($839,000.00) (the "Purchase
Price"). The City and RHA agree that the Purchase Price will be adjusted based on an
update of the existing appraisal of the Property dated December 23, 2014, which
updated appraisal will be completed at least thirty (30) days prior to closing, if RHA
exercises its option to purchase the Property. If the updated appraisal indicates that the
fair market value of the Property has increased or decreased, the parties will enter into
an amendment of the Purchase and Sale Agreement or other agreement in order to
revise the Purchase Price for the Property to reflect the fair market value established
by the updated appraisal.
2. The price for such option received by RHA herein is One Hundred and No/100
Dollars ($100.00), payable in full to the City within three (3) business days of the
effective date of this Agreement, in addition to other valuable consideration derived
from the joint development efforts as described above in the Recitals.
3. RHA may exercise its option to purchase the Property pursuant to this Agreement at
any time until 5:00 p.m. on December 31, 2015 (the "Initial Expiration Deadline");
provided that, RHA may, in its sole discretion, extend the time to exercise the option
set forth in this Agreement for an additional six (6) month period beyond the Initial
Expiration Deadline upon written notice to the City and the payment of an additional
One Hundred and No/100 Dollars ($100.00) (the "First Extension"), and for an
additional six (6) month period beyond the First Extension Deadline upon written
notice to the City and the payment of an additional One Hundred and No/100 Dollars
($100.00) (the "Second Extension"). If applicable, payments for the First Extension
and Second Extension shall be paid to the City within three (3) business days of the
exercise of such extension. All option payments pursuant to Sections 2 and 3 herein
shall be nonrefundable.
4. Upon exercise by RHA of the option set forth in this Agreement, the parties agree to
enter into a Purchase and Sale Agreement in substantially the form attached hereto as
Exhibit B and incorporated herein by this reference. The date of closing for the
purchase of the Property shall be ninety (90) days after the Purchase and Sale
Agreement is fully executed, or such other date as may be agreed to by the parties.
5. During the term of this Agreement, the City shall not in any way, voluntarily or
involuntarily, transfer, assign, convey or, without the prior written consent of RHA,
otherwise encumber the Property or any interest therein ("Transfer"). In any event,
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this Agreement shall survive any Transfer and be binding upon the City's transferees,
successors, and assigns.
6. This Agreement contains the entire understanding between the parties and supersedes
any prior understandings and agreements between them respecting the subject matter
hereof. No amendment of or supplement to this Agreement shall be valid or effective
unless made in writing and executed by the parties hereto.
7. It is the City's and RHA's intent that this Agreement provide RHA with site control in
compliance with any applicable grant funding requirements.
8. This Agreement may be executed in counterparts.
9. This Agreement shall be governed by the laws of the State of Washington.
IN WITNESS WHEREOF, the parties hereto have executed this Agreement as of the date set
forth above.
RHA: Housing Authority of the City of Renton,
a Washington public body corporate and
Igo
politic
By: (Allr Ab
Name: VP' - • T
•
Title: Executive blridor
CITY OF RENTON: City of Renton, a Washington municipal
corporatio
By:
Name: DEpt S/ZLA-1-4)
Title: MA-‘10
473690.1 135818710002 -3-
EXHIBIT A
Legal Description
PARCEL A:
THAT PORTION OF PUBLIC USE AREA ADJACENT TO TRACT 46B IN BLOCK 46 OF
CORRECTED PLAT OF RENTON HIGHLANDS NO. 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 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 NO. 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, AND THAT PORTION OF
VACATED HARRINGTON PLACE NORTHEAST (FORMERLY 12TH PLACE),
DESCRIBED AS FOLLOWS:
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 NO. 6471625;
THENCE NORTH 32°15'58" 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;
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THENCE SOUTH 32°15'58" WEST ALONG SAID MARGIN 187.69 FEET TO THE
SOUTH LINE OF RENTON LOT LINE ADJUSTMENT NO. LLA 7-83, RECORDED
UNDER RECORDING NO. 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;
THENCE NORTH 30°56'11" EAST 99.11 FEET TO THE NORTHWESTERLY CORNER
OF SAID TRACT 46B;
THENCE SOUTH 32°15'58" WEST ALONG THE WESTERLY LINE OF SAID TRACT
99.09 FEET TO THE POINT OF BEGINNING.
PARCEL A-2
PORTION OF TRACT 46B OF BLOCK 46 OF CORRECTED PLAT OF RENTON
HIGHLANDS NO. 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 NO. 6471625;
THENCE NORTH 32°15'58" 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°15'58" WEST ALONG SAID MARGIN 187.69 FEET TO THE
SOUTH LINE OF RENTON LOT LINE ADJUSTMENT NO. LLA 7-83, RECORDED
UNDER RECORDING NO. 8304119003 AND THE TERMINUS OF SAID LINE.
ALL SITUATE IN THE NORTHWEST QUARTER OF SECTION 9, TOWNSHIP 23
NORTH, RANGE 5 EAST, W.M., IN THE CITY OF RENTON, KING COUNTY,
WASHINGTON.
(Tax Parcel No. 722780-1781)
473690.1 1358187 1 0002 -5-
A
EXHIBIT B
Form of Purchase and Sale Agreement
473690.1 1358187 10002 -6-
REAL ESTATE PURCHASE AND SALE AGREEMENT
This Real Estate Purchase and Sale Agreement (this "Agreement") is made and entered
by and between the City of Renton, Washington, a municipal corporation (the "Seller") and the
Housing Authority of the City of Renton, a municipal corporation (the "RHA") with regard to the
following:
RECITALS:
A. Seller owns that property in Renton, King County, Washington, legally described
on Exhibit A, attached hereto and incorporated by this reference (the "Property"). Seller and
RHA hereby authorize the insertion over their signatures of the correct legal description of the
Property if unavailable at the time of signing, or to correct the legal description previously
entered if erroneous or incomplete.
B. Seller desires to sell to the RHA, and the RHA desires to purchase from Seller, the
Property, subject to the terms and conditions set forth in this Agreement.
NOW THEREFORE, in consideration of the mutual promises and covenants set forth
herein, the parties agree as follows:
1. Purchase and Sale Terms. The RHA shall purchase the Property from Seller and
Seller shall sell the Property to the RHA on the following terms and conditions:
1.1 Purchase Price for Property. The Purchase Price to be paid by the RHA to
Seller for the Property shall be Eight Hundred Thirty-Nine Thousand and No/100ths Dollars
($839,000.00) (the "Purchase Price"). The Purchase Price shall be paid in cash at Closing. Seller
and RHA agree that the Purchase Price will be adjusted based on an update of the existing
appraisal of the Property dated December 23, 2014, which updated appraisal will be completed
at least thirty (30) days prior to Closing. If the updated appraisal indicates that the fair market
value of the Property has increased or decreased, the parties will enter into an amendment of
this Agreement to revise the Purchase Price for the Property to reflect the fair market value
established by the updated appraisal.
1.2 Earnest Money Deposit. Within five (5) business days after the mutual
execution of this Agreement, the RHA will deliver a check to the Escrow Agent (as identified in
Paragraph 4.1 below), funds in the sum of Five Thousand No/100ths Dollars ($5,000.00) (the
"Deposit"). Except as otherwise provided in this Agreement, the Deposit and all accrued
interest will be credited to the RHA at Closing and applied to payment of the Purchase Price.
1.3 Date of Closing. The transaction of purchase and sale as set forth in this
Agreement shall be closed on or before , 20 (the "Date of Closing"), subject to
the satisfaction and/or waiver of all contingencies set forth more fully below.
471352.1 358187 0002 -1-
2. Contingencies. This Agreement and the RHA's obligations under this Agreement
are conditioned upon the occurrence of each of the following to the RHA's reasonable
satisfaction:
2.1. Condition of Title. Within fourteen (14) days of the mutual execution of
this Agreement, Seller shall cause First American Title Insurance Company, 818 Stewart Street,
Suite 800, Seattle, WA 98101 (the "Title Company") to issue to the RHA a preliminary
commitment for standard owner's policy of title insurance for the Property, together with full
copies of any exceptions set forth therein (the "Preliminary Commitment"). The RHA shall have
fourteen (14) days after delivery of the Preliminary Commitment within which to notify Seller,
in writing, of the RHA's disapproval of any exceptions shown on the Preliminary Commitment;
provided, that all monetary encumbrances and liens, if any, shall be deemed automatically
disapproved and shall be paid by Seller at Closing.
If the RHA disapproves any of the exceptions or defects set forth in the
Preliminary Commitment, Seller shall have ten (10) days from delivery of the RHA's notice to
eliminate any disapproved exceptions from the policy of title insurance to be issued in favor of
the RHA; provided, that, if such exceptions or defects cannot be eliminated within such ten (10)
day period, Seller may notify the RHA in writing of Seller's agreement to remove such
exceptions or defects, in which case such exceptions or defects shall be removed from title
prior to Closing.
If disapproved exceptions are not eliminated within said ten (10) day period, or if
Seller fails to notify the RHA within ten (10) days of Seller's willingness to remove such
exceptions prior to Closing, or if Seller notifies the RHA in writing that Seller will not eliminate
the same, then this Agreement shall terminate, and neither the RHA nor Seller shall have any
further rights, duties or obligations hereunder, unless within five (5) days after the earlier of (i)
the expiration of said ten (10) day period, or (ii) the date that Seller notifies the RHA that Seller
will not eliminate the disapproved exceptions, the RHA waives its prior disapproval and elects
to proceed with Closing subject to the disapproved exceptions. The title exceptions approved
as provided herein are referred to as the "Permitted Exceptions."
2.2 Waiver of Contingencies. If the RHA notifies Seller in writing that the
contingencies set forth herein have been waived, or if the contingencies otherwise are satisfied
or expire on their own terms, the Closing of this transaction shall thereafter proceed in
accordance with the terms hereof.
2.3 Environmental Review. The RHA, at its sole cost and expense, will obtain
such environmental review as it desires or as otherwise required under HUD regulations
("Environmental Review"), which shall be satisfactory to RHA at its sole discretion. The RHA
shall notify Seller if it finds such Environmental Review unsatisfactory and ask Seller for
additional time to conduct further environmental work or terminate this Agreement, at its
discretion, as provided in Section 2.4 below. Seller grants its permission to the RHA and or its
471352.1 1 358187 1 0002 -2-
agents to go upon the Property to complete this Environmental Review. Any damage to the
Property caused by such Environmental Review activity shall be repaired by the RHA.
Notwithstanding any other provision of this Agreement, RHA shall have no obligation to
purchase the Property, and no transfer of title to the RHA may occur, unless and until the RHA
has provided the Seller with a written notification that: (1) RHA has completed a federally
required Environmental Review and its request for release of federal funds has been approved
and, subject to any other contingencies in this Agreement, (a) the purchase may proceed, or (b)
the purchase may proceed only if certain conditions to address issues in the Environmental
Review shall be satisfied before or after the purchase of the Property; or (2) RHA has
determined that the purchase is exempt from federal Environmental Review and a request for
release of funds is not required. The RHA shall use its best efforts to conclude the
Environmental Review of the Property expeditiously.
2.4 Failure of Contingency. The conditions contained in Subparagraphs 2.1,
2.2 and 2.3 are intended solely for the benefit of the RHA. Except as otherwise expressly
provided herein, if any of the foregoing conditions are not satisfied, and the RHA does not
otherwise notify Seller in writing that the RHA has, in its sole discretion, elected to waive the
condition in question and proceed with the transaction, then this Agreement shall
automatically terminate and be of no further force or effect, whereupon, except as otherwise
provided in this Agreement, neither party hereto will have any further rights, duties or
obligations under this Agreement and the Deposit previously delivered by the RHA, and all
interest accrued thereon, shall be immediately returned to the RHA.
3. Conveyance of Title. On the Date of Closing, the title to the Property shall be
conveyed to the RHA by statutory warranty deed subject only to the Permitted Exceptions.
Prior to or concurrent with the delivery of the statutory warranty deed, Seller shall also deliver
or cause to be delivered to the RHA, for the RHA's benefit, a final ALTA Standard Coverage
Owner's Policy of Title Insurance for the Property in the RHA's name and in the amount of the
Purchase Price, containing only those Permitted Exceptions. The RHA may, in its discretion,
elect to obtain an extended coverage owner's policy; provided, that the RHA shall be
responsible for the additional costs associated with such coverage.
4. Closing and Escrow.
4.1 Escrow Agent. The Title Company shall act as the escrow agent for this
transaction (the "Escrow Agent"). Upon the mutual execution of this Agreement, the RHA shall
deposit an executed counterpart with the Escrow Agent for consummation of the purchase and
sale contemplated hereby. Seller and the RHA shall execute such additional and supplementary
escrow instructions as may be reasonable or appropriate to enable the Escrow Agent to comply
with the terms of this Agreement. In the event of a conflict between the provisions of this
Agreement and any escrow instructions, the terms of this Agreement shall govern.
471352.1 1 358187 1 0002 -3-
4.2 Prorations. All taxes and assessments for the Property shall be prorated
as of the Date of Closing.
4.3 Fees and Closing Costs. On Closing, the Seller shall pay the premium for
the title insurance to be issued by the Title Company for the benefit of the RHA in the amount
of the Purchase Price. The RHA shall pay the excess premium attributable to any extended
coverage or endorsements requested by the RHA and the recording fees for the statutory
warranty deed. The Seller and the RHA shall each pay one-half of the escrow fees charged by
the Escrow Agent. Unless otherwise agreed, any other fees and closing cost shall be paid by the
applicable party as is customary in such transactions.
4.4 Closing Obligations of Purchaser. On or before Closing the RHA shall
deliver to the Escrow Agent the following:
4.4.1 The Purchase Price, in all cash.
4.4.2 A Closing Statement in form and content reasonably satisfactory
to the parties.
4.4.3 Any other documents necessary to effect the transaction
contemplated in this Agreement.
4.5 Closing Obligations of Seller. At Closing, Seller shall deliver to the Escrow
Agent the following duly executed and acknowledged documents (where appropriate):
4.5.1 A statutory warranty deed sufficient to convey fee simple title to
the Property, subject only to the Permitted Exceptions.
4.5.2 A Closing Statement in form and content reasonably satisfactory
to the parties.
4.5.3 A FIRPTA certification.
4.5.4 A Real Estate Excise Tax Affidavit executed by Seller in form
required by law.
4.5.5 Any other documents necessary to effect the transaction
contemplated in this Agreement.
4.6 Possession. The RHA shall be entitled to possession upon Closing.
"Closing" means the date on which all documents are recorded and the sale proceeds are
available for unconditional disbursal to Seller.
471352.1 1358187 10002 -4-
5. Default. In the event that Seller breaches this Agreement, the RHA shall, in its
sole discretion, (i) have the right to pursue specific performance of this Agreement or (ii)
receive the Deposit and terminate this Agreement; in either case, such remedy shall be the
RHA's sole and exclusive remedy for Seller's breach hereof. If the RHA is the defaulting party,
then Seller may retain the Deposit as liquidated damages (and not as a penalty) as the sole and
exclusive remedy available to Seller for such failure.
Seller' s Initials RHA's Initials
6. Seller's Representations and Warranties. Seller represents and warrants to
the RHA as follows:
6.1 Ownership; Non-Foreign Status. Seller owns the Property and has the
right to sell the Property and is not a foreign person as defined by the Foreign Investment in
Real Property Tax Act, IRS Section 1445(b)(2), as amended.
6.2 Property Information. To the best of Seller's knowledge, the information
regarding the Property as provided by Seller is complete, accurate, true and correct and does
not fail to state any fact without which such information would be misleading.
6.3 Hazardous Materials. To the best of Seller's knowledge, no hazardous or
toxic waste or other hazardous materials have been deposited or spilled on or under the
Property or exist on or under the Property. For purposes of this Agreement, "hazardous
materials" shall mean any material which is defined as hazardous, toxic or radioactive in any
federal, state or local statute, regulation, ordinance or law applicable to the Property, or which
is otherwise publicly regulated for reasons of human health or the environment, including,
without limitation, asbestos and petrochemicals.
6.4 Notices of Violation. To the best of Seller's knowledge, the Property is
not in violation of any applicable covenant, condition or restriction or any applicable statute,
ordinance, regulation, order, permit, rule or law, including without limitation, any building,
zoning or environmental restriction or requirement concerning filling, use, construction,
maintenance, repair, replacement, operation or occupancy, and Seller has not received from
any governmental agency any notice of the existence of any such violations.
6.5 Pending Actions. To the best of Seller's knowledge, there is no action or
proceeding pending or threatened against Seller or the Property, including but not limited to
condemnation proceedings, which challenges or impairs Seller's ability to execute or perform
its obligations under this Agreement.
6.6 Survival of Warranties. All of Seller's representations and warranties
provided in this Agreement shall survive Closing.
471352.1 I 358187 1 0002 -5-
411106.
7. Condition of Property. The RHA acknowledges that Seller is selling the Property
"as is, where is and with all faults" without representation, warranty or covenant (express or
implied) except as specifically set forth herein. Seller has not made and shall not be deemed to
have made any representation, warranty or covenant (express or implied) and shall not have
any liability whatsoever as to the title, value, habitability, use, design, operation or fitness for
use of the Property, except as specifically set forth herein.
8. Indemnification. Seller agrees to defend (with counsel approved by the RHA),
fully indemnify and hold entirely free and harmless the RHA from and against all claims,
judgments, damages, penalties, fines, costs, liabilities or losses (including, without limitation,
sums paid in settlement of claims, attorneys' fees, consultant fees and expert fees) that are
imposed on, paid by or asserted against the RHA or its successors or assigns, by reason or on
account of, or in connection with, or arising out of (a) the presence or suspected presence of
Hazardous Material in the soil, groundwater or soil vapor on or about the premises, or (b) the
migration of any Hazardous Material from or onto the premises, or (c) the violation of any
Environmental Law, and, with respect to (a), (b) and (c), that existed as of or prior to the Closing
Date and only if it did so in violation of Seller's representations. This indemnification of the
RHA by Seller includes, without limitation, costs incurred in connection with any of the
following:
8.1 Any investigative or remedial action involving the presence of Hazardous
Material on or about the premises or releases of Hazardous Material from the premises;
8.2 Any allegations made by any governmental authority or any private
citizen or entity or group of citizens or entities as to the violation of any Environmental Laws
involving the premises or the operations conducted thereon; and/or
8.3 Any injury or harm of any type to any person or entity or damage to any
property arising out of, in connection with or in any way relating to (i) the generation,
manufacture, refinement, transportation, treatment, storage, recycling, disposal or release, or
other handling of Hazardous Material on or about the premises or pursuant to the operations
conducted thereon, and/or (ii) the violation of any Environmental Laws, and/or (iii) the
contamination of the premises.
9. Miscellaneous.
9.1 Funds to Close. The RHA represents that it has sufficient funds to close
this sale in accordance with this Agreement, and it is not relying on any contingent source of
funds or gifts unless expressly set forth elsewhere in this Agreement.
9.2. Attorneys' Fees. In the event of any dispute, including arbitration or
litigation concerning this Agreement or if this Agreement is otherwise placed with an attorney
for action, then the prevailing party shall be awarded all costs and expenses, and reasonable
471352.1 1 358187 1 0002 -6-
attorney fees. In the event of trial, the amount of the attorney fees shall be fixed by the court.
The venue of any such suit shall be King County, Washington.
9.3 Entire Agreement. This Agreement constitutes the full and entire
understanding between Seller and the RHA. There are no verbal agreements that modify or
affect this Agreement.
9.4 Binding Effect. This Agreement applies to, inures to the benefit of, and is
binding on not only the parties hereto, but on their heirs, devisees, legatees, administrators,
executors and assigns.
9.5 Computation of Time. Any time limit in or applicable to a notice shall
commence on the day following receipt of the notice and shall expire at midnight of the last
calendar day of the specified period of time, unless the last day is Saturday, Sunday or legal
holiday as defined in RCW 1.16.050, in which event the time limit shall expire at midnight of the
next business day. Any specified period of five (5) days or less shall include business days only.
Time is of the essence on this Agreement.
9.6 Notices. All notices, demands, consents, approvals and other
communications which are required or desired to be given by either party to the other
hereunder shall be in writing and shall be hand delivered or sent by United States regular mail,
postage prepaid, addressed to the appropriate party at its address set forth below, or at such
other address as such party shall have last designated by notice to the other, or by email sent to
the email addresses identified below. Notices, demands, consents, approvals, and other
communications shall be deemed given when delivered or three days after mailing to the
following addresses:
To the Seller: Attn: Terry Higashiyama
City of Renton
1055 South Grady Way
Renton WA 98055
Email: thigashiyama@rentonwa.gov
With a copy to Lawrence J. Warren
City of Renton
1055 South Grady Way
Renton WA 98055
Email: lwarren@rentonwa.gov
To RHA: Attn: Mark Gropper
Housing Authority of the City of Renton
2900 NE 10th Street
Renton WA 98056
Email: mrg@rentonhousing.org
471352.1 358187 0002 -7-
With a copy to Eric Frimodt
Inslee, Best, Doezie and Ryder, PS
10900 NE 4th Street Suite 1500
PO Box 90016
Bellevue WA 98009-9016
Email: efrimodt@insleebest.com
9.7 Assignment. Except as specifically permitted herein, this Agreement shall
not be assigned without the express written consent of the other party, which consent shall not
be unreasonably withheld. Such assignment shall be contingent upon the assignee assuming all
responsibilities, obligations and liabilities hereunder. Said assignment shall not relieve the
assignor from liability hereunder and assignor shall remain jointly and severally liable with
assignee in the event of any breach of this Agreement by assignee or assignor.
This Agreement is accepted without further change or counteroffer this day of
, 20_, which shall be deemed the date of mutual acceptance of this
Agreement.
SELLER: RHA:
The City of Renton Housing Authority of the City of Renton
By
Name Name
Its Its
Dated Dated
471352.1 1 358187 1 0002 -8-
EXHIBIT A
To
REAL ESTATE PURCHASE AND SALE AGREEMENT
Legal Description of Property
PARCEL A:
THAT PORTION OF PUBLIC USE AREA ADJACENT TO TRACT 46B IN BLOCK 46 OF CORRECTED
PLAT OF RENTON HIGHLANDS NO. 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 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 86034'36" 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 NO. 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, AND THAT
PORTION OF VACATED HARRINGTON PLACE NORTHEAST (FORMERLY 12TH PLACE), DESCRIBED
AS FOLLOWS:
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 NO. 6471625;
THENCE NORTH 32°15'58" 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°15'58" WEST ALONG SAID MARGIN 187.69 FEET TO THE SOUTH LINE OF
RENTON LOT LINE ADJUSTMENT NO. LLA 7-83, RECORDED UNDER RECORDING NO.
8304119003;
THENCE SOUTH 86°34'36" EAST ALONG SAID SOUTH LINE 6.03 FEET;
471352.1 1 358187 1 0002 -9-
arrimisw
THENCE NORTH 31°24'45" EAST 186.09 FEET;
THENCE NORTH 58°24'13" WEST 110.21 FEET;
THENCE NORTH 30°56'11" EAST 99.11 FEET TO THE NORTHWESTERLY CORNER OF SAID TRACT
46B;
THENCE SOUTH 32°15'58" WEST ALONG THE WESTERLY LINE OF SAID TRACT 99.09 FEET TO THE
POINT OF BEGINNING.
PARCEL A-2:
PORTION OF TRACT 46B OF BLOCK 46 OF CORRECTED PLAT OF RENTON HIGHLANDS NO. 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 NO. 6471625;
THENCE NORTH 32°15'58" 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°15'58" WEST ALONG SAID MARGIN 187.69 FEET TO THE SOUTH LINE OF
RENTON LOT LINE ADJUSTMENT NO. LLA 7-83, RECORDED UNDER RECORDING NO. 8304119003
AND THE TERMINUS OF SAID LINE.
ALL SITUATE IN THE NORTHWEST QUARTER OF SECTION 9, TOWNSHIP 23 NORTH, RANGE 5
EAST, W.M., IN THE CITY OF RENTON, KING COUNTY, WASHINGTON.
471352.1 I 358187 I 0002 -10-
Form WA-5(6/76) File No.: NCS-704323-WA1
Commitment Face Page
a .t.
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."
First American Title Insurance Company
Dennis J Gilmore
President
Jeffrey S Robinson
Secretary
First American Title Insurance Company
Form WA-5(6/76) File No.: NCS-704323-WA1
Commitment Page No. 1
` c� A.H6k1 '.J
c d•
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@fiirstam.com tkotas@firstam.com
To: Ally Community Development File No.: NCS-704323-WA1
5220 25th Ave SW Your Ref No.: RHA/Shelter
Resources
Seattle, WA 98106
Attn: Juanita McLaughlin
THIRD REPORT
SCHEDULE A
1. Commitment Date: July 22, 2015 at 7:30 A.M.
2. Policy or Policies to be issued:
AMOUNT PREMIUM TAX
Extended Mortgagee's Covereage $ To follow $ To follow $ To follow
Proposed Insured:
To follow
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:
City of Renton, a municipal corporation as to Parcel A, The Housing Authority of the City of
Renton, a public body corporate and politic as to Parcel B and Renton Housing Authority, a
municipal corporation as to Parcels C and D
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.
First American Title Insurance Company
Form WA-5(6/76) File No.: NCS-704323-WA1
Commitment Page No.2
EXHIBIT 'A'
LEGAL DESCRIPTION:
PARCEL A:
THAT PORTION OF PUBLIC USE AREA ADJACENT TO TRACT 46B IN BLOCK 46 OF CORRECTED PLAT OF
RENTON HIGHLANDS NO. 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
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 NO. 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, AND THAT PORTION OF VACATED HARRINGTON
PLACE NORTHEAST(FORMERLY 12TH PLACE), DESCRIBED AS FOLLOWS:
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 NO. 6471625;
THENCE NORTH 32°15'58" 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°15'58" WEST ALONG SAID MARGIN 187.69 FEET TO THE SOUTH LINE OF RENTON LOT
LINE ADJUSTMENT NO. LLA 7-83, RECORDED UNDER RECORDING NO. 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;
THENCE NORTH 30°56'11" EAST 99.11 FEET TO THE NORTHWESTERLY CORNER OF SAID TRACT 46B;
THENCE SOUTH 32°15'58" WEST ALONG THE WESTERLY LINE OF SAID TRACT 99.09 FEET TO THE POINT OF
BEGINNING.
PARCEL A-2:
PORTION OF TRACT 46B OF BLOCK 46 OF CORRECTED PLAT OF RENTON HIGHLANDS NO. 2, AN ADDITION TO
THE CITY OF RENTON, ACCORDING TO THE PLAT RECORDED IN VOLUME 57 OF PLATS, PAGES 92 TO 98,
First American Title Insurance Company
Form WA-5(6/76) File No.: NCS-704323-WA1
Commitment Page No.3
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 NO. 6471625;
THENCE NORTH 32°15'58" 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°15'58" WEST ALONG SAID MARGIN 187.69 FEET TO THE SOUTH LINE OF RENTON LOT
LINE ADJUSTMENT NO. LLA 7-83, RECORDED UNDER RECORDING NO. 8304119003 AND THE TERMINUS OF
SAID LINE.
PARCEL B:
THAT PORTION OF TRACT 46B, CORRECTED PLAT OF RENTON HIGHLANDS NO. 2, ACCORDING TO THE PLAT
THEREOF RECORDED IN VOLUME 57 OF PLATS, PAGE(S) 92 THROUGH 98, INCLUSIVE, IN KING COUNTY,
WASHINGTON, LYING NORTHEASTERLY OF A LINE:
COMMENCING AT THE INTERSECTION OF THE NORTHWESTERLY LINE OF SAID TRACT 46B WITH THE
NORTHERLY MARGIN OF THAT CERTAIN 50.00 FOOT WIDE STRIP OF LAND CONVEYED TO THE CITY OF
RENTON FOR STREET PURPOSES BY DEED RECORDED UNDER RECORDING NUMBER 6471525;
THENCE NORTH 31°59'53" EAST, ALONG SAID NORTHWESTERLY LINE OF TRACT 46B, 216.08 FEET TO THE
TRUE POINT OF BEGINNING OF THE HEREIN DESCRIBED LINE;
THENCE SOUTH 58°00'07" EAST 135.00 FEET TO THE CENTERLINE OF SAID VACATED 12TH PLACE
(HARRINGTON PLACE NORTHEAST)AND THE TERMINUS OF SAID DESCRIBED LINE;
TOGETHER WITH THAT PORTION OF THE NORTHWESTERLY HALF OF VACATED HARRINGTON PLACE
NORTHEAST(12TH PLACE) AS VACATED UNDER ORDINANCE NO. 2553 OF THE CITY OF RENTON, RECORDED
UNDER RECORDING NUMBER 6647013 ADJOINING TRACT 46B IN SAID PLAT, LYING NORTH OF THE
FOLLOWING DESCRIBED LINE:
COMMENCING AT THE SOUTHWEST CORNER OF LOT 19 IN BLOCK 46 OF SAID PLAT;
THENCE SOUTH 03°35'47"WEST ALONG THE EAST LINE OF HARRINGTON AVENUE NORTHEAST, 25.08 FEET
TO THE INTERSECTION OF THE CENTERLINE OF A 50 FOOT STRIP OF LAND CONVEYED TO THE CITY OF
RENTON BY DEED RECORDED UNDER RECORDING NUMBER 6471625;
THENCE CONTINUING SOUTH 03°35'47"WEST 0.50 FEET TO THE TRUE POINT OF BEGINNING;
THENCE SOUTH 86°34'36" EAST 200.80 FEET TO THE CENTERLINE OF VACATED HARRINGTON PLACE
NORTHEAST(12TH PLACE)AND THE TERMINUS OF SAID LINE;
EXCEPT THOSE PORTIONS OF SAID TRACT 46B AND HARRINGTON PLACE NORTHEAST LYING WITHIN THE
FOLLOWING DESCRIBED TRACT:
COMMENCING AT THE INTERSECTION OF THE WESTERLY LINE OF SAID TRACT 46B WITH THE NORTHERLY
LINE OF THAT 50 FOOT STRIP OF LAND DEEDED TO THE CITY OF RENTON AND FILED UNDER RECORDING
NUMBER 6471625 IN VOLUME 5201 OF DEEDS, PAGE 617, IN KING COUNTY,WASHINGTON;
THENCE NORTH 32°15'58"EAST ALONG SAID WESTERLY LINE 216.08 FEET TO THE TRUEPOINT OF
First American Title Insurance Company
Form WA-5(6/76) File No.: NCS-704323-WA1
Commitment Page No.4
BEGINNING;
THENCE SOUTH 57°44'02" EAST 110.00 FEET TO THE WESTERLY MARGIN OF SAID VACATED HARRINGTON
PLACE N.E;
THENCE SOUTH 32°15'58"WEST ALONG SAID MARGIN 187.69 FEET TO THE SOUTH LINE OF CITY OF RENTON
LOT LINE ADJUSTMENT NUMBER LLA 007-83 AND FILED UNDER RECORDING NUMBER 8304119003, IN KING
COUNTY, WASHINGTON;
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;
THENCE NORTH 30°56'11" EAST 99.11 FEET TO THE NORTHWESTERLY CORNER OF SAID TRACT 46B;
THENCE SOUTH 32°15'58" WEST ALONG THE WESTERLY LINE OF SAID TRACT 99.09 FEET TO THE TRUE POINT
OF BEGINNING.
PARCEL C:
LOT 19 IN BLOCK 46 OF CORRECTED PLAT OF RENTON HIGHLANDS NO. 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.
PARCEL D:
LOT 20 IN BLOCK 46 OF CORRECTED PLAT OF RENTON HIGHLANDS NO. 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.
First American Title Insurance Company
Form WA-5(6/76) File No.: NCS-704323-WA1
Commitment Page No. 5
SCHEDULE B- SECTION 1
REOUIREMENTS
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 theretofore 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.
First American Title Insurance Company
Form WA-5(6/76) File No.: NCS-704323-WA1
Commitment Page No.6
SCHEDULE B-SECTION 2
(continued)
SPECIAL EXCEPTIONS
1. Liability, if any, for pro-rata portion of Real Property taxes which are carried on the
King County Tax Rolls, as tax account no. 722780-1781-08, are exempt.
We note Special Charges for the year 2015 in the amount of$12.70, of which $12.70 has been paid.
Balance due: $0.00.
(Affects Parcel A)
2. General Taxes for the year 2015.
Tax Account No.: 722780-1780-09
Amount Billed: $ 3,245.08
Amount Paid: $ 1,622.54
Amount Due: $ 1,622.54
Assessed Land Value: $ 256,000.00
Assessed Improvement Value: $ 0.00
(Affects Parcel B)
3. Liability, if any, for pro-rata portion of Real Property taxes which are carried on the
King County Tax Rolls, as tax account no. 722780-1660-04, are exempt.
We note Special Charges for the year 2015 in the amount of$12.70, of which $12.70 has been paid.
Balance due: $0.00.
(Affects Parcel C)
4. General Taxes for the year 2015.
Tax Account No.: 722780-1665-09
Amount Billed: $ 2,728.85
Amount Paid: $ 1,364.43
Amount Due: $ 1,364.42
Assessed Land Value: $ 193,000.00
Assessed Improvement Value: $ 22,000.00
5. 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.
First American Title Insurance Company
Form WA-5(6/76) File No.: NCS-704323-WA1
Commitment Page No.7
6. Restrictions, conditions, dedications, notes, easements and provisions, if any, as contained
and/or delineated on the face of the Corrected Plat of Renton Highlands No. 2 recorded in
Volume 57 of Plats at Pages 92-98, in King County, Washington.
7. Easement, including terms and provisions contained therein:
Recording Information: 6471624 and 6647013
In Favor of: City of Renton
For: Sewer
Affects: Parcels A and B
8. Covenants, conditions, restrictions and/or easements:
Recorded: February 17, 1969
Recording No.: 6471625
(Affects Parcels A and B)
9. Restrictions, conditions, dedications, notes, easements and provisions, if any, as contained
and/or delineated on the face of the Lot Line Adjustment No. LLA-003-82 recorded under
Recording No. 8204219003, in King County, Washington.
(Affects Parcels A and B)
10. Restrictions, conditions, dedications, notes, easements and provisions, if any, as contained
and/or delineated on the face of the Survey recorded under Recording No. 8.30. 411.9.003, in
King County, Washington.
(Affects Parcels A and B)
11. 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.
First American Title Insurance Company
Form WA-5(6/76) File No.: NCS-704323-WA1
Commitment Page No.8
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.
Lots 19, 20 and 46B Block 46, Renton Highlands 2, V. 57, P. 92
APN: 722780-1781-08
APN: 722780-1780-09
APN: 722780-1660-04
APN: 722780-1665-09
Property Address: 1104 Harrington Avenue Northeast, 1144 Harrington Avenue
Northeast, 1156 Harrington Avenue Northeast, 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
First American Title Insurance Company
Form WA-5(6/76) File No.: NCS-704323-WA1
Commitment Page No.9
a� A>1F;k/
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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.
First American Title Insurance Company
Form WA-5(6/76) File No.: NCS-704323-WA1
Commitment Page No. 10
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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