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HomeMy WebLinkAboutRC 8311010611 / t - , � • , , ' � < . , '� . � ' • DECLARATION OF PROTECTIVE CONDITIONS, COVENANTS AND RESTRICTIONS ;. _. . . :�.. .� - ;r, ,, 1 [', ONE VALLEY PLACE �`��"� � � � � 4u til� r� � _ . _� -1i_i / �f� G4. - -. THIS DECLARATION is made this day of G f , � 198�, by Dean M. Rockey, Frances Rockey, Richard Lomas, Daryl Connell and Michele Connell (collectively referred to herein as "One Valley Place" ) . ARTICLE I. RECITALS � 1 . 01 OWNERSHIP. ONE VALLEY PLACE is the owner of the � real property in King County, Washington, described in Exhibit � "A" hereto ("Property") . � 1 .02 PURPOSE. In order to establish and carry out a ri Master Plan for improvement and develop of the Property as a �� business park, ONE VALLEY PLACE desires to impose mutual and � beneficial Protective Conditions, Covenants and Restrictions ("CC & R' s") for the benefit of ONE VALLEY PLACE and the future owners of the Property. The key principle of ONE VALLEY PLACE' S business park development as embodied in the Master Plan (Exhibit "B") and these CC & R' s is the preservation of long-term property values by the creation and maintenance of an efficient high quality business environment having high development and maintenance standards in a campus or park-like setting. These CC & R' s are intended to maintain the integrity of the business park' s Master Plan and to preserve those associated tangible qualities of property value. It is the intent of these CC & R' s that the Property be developed in accordance with the Master Plan as an office community to accommodate professional and general activities such as branch banks, restaurants, and related retail uses. ARTICLE II. GENERAL PROVISIONS 2 .01 ESTABLISHMENT OF CC & R' S. ONE VALLEY PLACE hereby declares that the Property is now held and shall be transferred, sold, encumbered, rented, leased, conveyed, used, and occupied subject to these CC & R' s which shall run with the land and shall be maintained and pass with each and every parcel of the Property to the direct, mutual, and reciprocal benefit and in favor of each and every other part and parcel of the Property, binding any party having any interest in the Property. 2 .02 RESERVATION. For so long as it owns any interest in any parcel of the Property, ONE VALLEY PLACE reserves the right to ONE VALLEY PLACE and to ONE VALLEY PLACE' s Successor to: (a) Delineate, plat, subdivide, grant, establish, create, relocate, convey, or reserve within the Property, then owned by it such public or private streets, sidewalks, ways and easements for drainage, utilities and access, as it from time to time may deem necessary or appropriate for the development and maintenance of the business park, any of which may be dedicated to public use or conveyed to any appropriate governmental agency or authority free and clear of these CC & R' s; and (b) With respect to any Parcel which it no longer runs, each and every owner thereof hereby irrevocably appoints ONE VALLEY PLACE as its agent and attorney-in-fact to do and effect any and all of the acts described under Section 2 .02 (a) above, so long as such act does not reduce the buildable area of any such Parcel or have any other material adverse effect on the value of the Property. DECLARATION OF CONDITIONS - 1 - � ..� , �• , , , . , 2.03 DEFINITIONS. As used herein, the following mean: (a) Approval .Authority. ( i) ONE VALLEY PLACE, for so long as it owns any record interest in any part of the Property; or thereafter ( ii) Any corporation, association, partnership, or trust controlled by ONE VALLEY PLACE or with which ONE VALLEY PLACE has been merged or consolidated or by which ONE VALLEY PLACE has been acquired (ONE VALLEY PLACE' s Successor) all as certified of record by ONE VALLEY PLACE, for so long as it owns of record any interest in any Parcel of the Property, or thereafter ri � � ( iii) Any association, whether or not incorpora- � ted, organized by the record owners of a majority of the Property for the purpose, among others, of implementing or en�orcing these Q CC & R' s, provided ONE VALLEY PLACE or ONE VALLEY PLACE' s Suc- e-1 Cr�i cessor has granted to it of record such authority. � (b) City of Renton Land Use Code ( "Code" ) . Ordinances of the City of Renton, applicable to land use in the Office Park; (c) Developed Areas. Sites improved with building structures, parking lots, and landscaping; (d) Parcel. Any fee title land ownership part of or interest in any site within the Property, excluding land or im- provements dedicated to ownership by a public body, utility dis- trict, or other publ�c or semi-public entity; (e) Setback. Distance from the front, back or side property line as required for building structures; ! f) Site. :.egal lo�, or a collection of adjoining legal lots under a single ownership; (g) Street. A dedicated public right of way or private thoroughfare serving any Parcel of the Property in common with other Parcels, or adjoining the business park , but excluding on-site driveways. ARTICLE III. PERMITTED OSES 3.01 GENERAL. Property within the office park shall be used only for the purposes described under Section 1.02 above, subject to the provisions of the Code and qualifications and restrictions stated in this Article III . 3.02 VISIBILITY. All business uses conducted in the business park are to be contained entirely within completely enclosed buildings. 3.03 TEMPORARY STRUCTURES. Other than temporary construc- tion trailers and shacks described in Section 6 .03 below, on-site temporary office trailers or structures are not permitted. ARTICLE IV. GENERAL DEVELOPMENT REQOIREMENTS. 4 .01 BUILDING HEIGHTS. The following criteria shall apply to the Property: (a) Structures on Lots 1 through 9 may not exceed forty (40 ) feet in height, but excluding penthouse for storage, equip- ment and access; (b) Structures on Lots 10 , 11 , and 12 may not exceed one hundred twenty (120) feet in height but excluding penthouse for storage, equipment and access. DECLARATION OF CONDITIONS -2- ,� '; • • , . . , : , .: . 4 .02 BUILrING SETBACKS. All lots in thA Property will be subject to t e ollowing setback restrictions: (a) Lots 1 through 8 ( 1 ) Front Yard : 60 ' (2) Side Yard: 5' (3 ) Rear Yard: 10 ' (b) Lot 9 ( 1 ) Front Yard : 20 ' ( 2) Side Yard : 5 ' (3 ) Rear Yard : 10 ' r-1 � (c) Lots 10 through 12 - Same as Lots 1 through 8 if 0 the lots are built on as separate lots. if combined , for a high- �..� rise str�.:cture, then: 0 � ( 1 ) Front Yard : 60 ' � ( 2 ) Side Yard : 20 ' � ( 3 ) Rear Yard : 40 ' Masonry or concrete planters not exceeding four ( 4 ) feet tall may be constructed within setback distances. (a) No trees exceeding a six (6) inch diameter measured four (4 ) feet above the ground may be cut down or cleared unless necessary for parking or building areas (outside of landscaped sections) , for disease control , for thinning to enhance growth of adjacent trees and understory, or to accommodate site grading . Any tree clearing, grading , or thinning shall first be approved by the Approval Authority in site landscaping and grading plans. (b) Landscaping of building Sites shall be completed within ninety (90 ) days of substantial building completion, with such time extended by the Approval Authority for adverse weather or seasonal conditions. Areas cleared or graded which are to remain open or undeveloped for a period of six (6 ) months or more following completion of clearing 'or grading shall be planted in the appropriate season by seeding with grasses and wildflowers , and be maintained in an attractive, well groomed and trimmed physical condition with healthy vegetation until actual on-site building and site development occurs. (c) Utility corridors cleared of vegetation during construction are to have natural vegetation replaced, or alterna- tively, landscape upgrading or seeding with grasses and wild- flowers following construction of utilities. Further, any steep slopes either existing or created during construction are to have natural vegetation either retained or replaced and upgraded accor- ding to approved individual site landscaping plans. (d) Interior Property Lines Along Storage Areas. Any outside storage should be set back to a point behind the building front wall Setback , and a minimum of sixty (60) feet from Streets with screening full height by a permanent material solid wall or non-corrosive chain link fence having solid redwood or cedar slats ' as well as landscape screening . 4.03 PARKING. The following parking requirements shall apply for all lots in the Property: ( a) Except for Lot 9 , the first fifty-six (56 ) feet back from each front property line shall be used exclusively for ninety (90 ) degree parking with two-way circulation. All parking spaces located in any portion of any lot may be used for parking by owners, users, customers, and invitees of any other Parcel in the Property. It is intended that there be open parking on all lots. No Parcel owner may restrict in any way or otherwise DECLARATION OF CONDITIONS -3- • 1 • , inhibit any other such Parcel owner , user , customer , or invitee from so using said parking spaces. (b) All parking stalls shall be nine (9) feet wide by eighteen (18) feet in length, except that twenty-five percent (25$ ) of all required parking may be compact parking spaces with a length of sixteen (16 ) feet. (c) All parking layouts shall be ninety (90) degrees parking with twenty-two (22) foot aisle widths for either one-way or two-way circulation. (d) The number of required parking stalls shall be ten �i percent (10$) less than: �i � (i) For each two hundred (200) square feet of gross ��.{ floor area for medical-dental office space; C r"� (ii) One for each two hundred (200) square feet of Mnet rentable area for medical-dental office space on lots lq 11, � and 12 ; and (iii) Renton Code requirements for all other uses. (e) No on-street parking shall be permitted by office park employees or guests on public streets. ( f) The uses of mass transportation (bus, car pooling, or other means) is encouraged, as well as flexible working hours or staggered shifts to minimize peak period traffic loads and to conserve fuel. In 'determining actual minimum on-site parking requirements, the Approval Authority shall take into account each applicants special transportation plan and commitment to meet transit needs and parking requirements for its employees. 4 .04 PARKING LOT LANDSCAPING. The following parking lot landscaping shall apply for all lots in the Property: (a) A minimum of five percent ( 5$) of automobile park- ing lot areas ( including driveways in these areas) is to be land- scaped; (b) One tree shall be required along each 60 feet of required landscaped area. Each required tree shall be identical in size and type as the tree planted in the public street abutting each lot. Ground cover in landscaped areas shall match the ground cover in the public right-of-way; (c) No walls or fences may. b.e constructed along prop- erty lines and a minimum of two ( 2) feet of landscaping shall be required from the property line to the back of the wheel stops. (d) All sprinkler systems for parking lot landscaping shall be installed according to City Code. 4 .05 EQUIPMENT SCREENING. Rooftop mounted, mechanical equipment shall be screened. This screening may be accomplished either by use of a perimeter parapet wall added to the building structure and not exceeding six (6) feet in height, by individ- ually screening bulk equipment as approved by the Approval Author- ity or a combination. Equipment mounted on the ground surface shall be screened in the same fashion as outside storage. Any significantly noise-generating equipment (either roof mounted or ground mounted) shall be noise screened from surrounding residen- tial areas, using a full height sound absorbent solid screen barrier wall on the side(s) facing toward residential areas. 4.06 WASTE RECEPTACLE SCREENING. Waste receptacles visible from public streets shall be screened from view in the same fashion as outside storage. DECLARATION OF CONDITIONS -4- I 4.07 INTERNAL STREETS. All internal streets for public dedication shall be constructed to City standards and requirements except as provided herein. Private streets shall be constructed to City structure and material standards, but not necessarily to dimension standards. 4 .08 SIGNS. (a) Permanent signs an8 directories shall be mounted either on building walls or freestanding in landscaped areas, including upon any berms. Signs shall contain no advertising material other than an identifying logo or trademark. All signs ry within the office park shall be constructed of a permanent mater- � ial, with size and shape harmonious with the surrounding land- 0 scaping and building environment, and may be illuminated in- ry directly. No signs are permitted to be a source of light or have � flashing, blinking, or moving lights or sign motion. Signs may � not extend to a point taller than the adjoining building wall � height. All permanent signs within the office park shall conform � to further requirements of the Renton Sign Code. (b) Temporary signs are permitted for leasing, sales, and marketing purposes if consistent with the standard design for the business park. Text content of these signs may vary as ap- proved, according to the individuals marketing and product being marketed. One on-site construction sign of a maximum thirty-two- square-foot size, single face, is permitted on each site during construction. Marketing and construction signs may not be spec- ially illuminated, and all temporary signs within the business park shall conform tb further requirements and limitations of the Code. (c) No sign may be painted directly on building walls. Wall mounted signs shall consist of raised lettering in colors harmonious to the building structure, and of no more than one inch in height for each foot of wall height, with a maximum height of ' four feet tall and a maximum length of ten percent ( 10$ ) of the building wall length. Multiple tenant buildings having over four (4) occupants shall have a standard approved building sign graphic lettering style and color system, although for these buildings, aggregate sign length may be twenty-five percent (258 ) of the building wall length on which the signs are mounted. Unless special permission is granted, only one sign shall be permitted for each building occupant. The Approval Authority reserves the I sole right to approve, disapprove, or reduce permitted sign size and design, according to the building scale, appearance, and number of building occupants. One occupant identification sign is permitted for each occupant, whether wa.11 mounted, or freestand- ing. Freestanding permanent signs mounted in landscaped areas may not exceed the size permitted for wall mounted signs, are to be set back at least ten (10) feet from the front curb line with a maximum height of four (4) feet above the ground surface, and are limited to one sign per building. (d) Exterior building occupant directories shall be limited to one directory for each building having at least four (4) occupant companies. Directories shall conform to the maximum size, location, and approval standards for other permanent signs, with the available space for each occupant reduced accordingly. 4. 09 MATERIALS AND COLORS. Building wall materials shall be of a permanent low maintenance type as approved by the Approval Authority, including concrete, masonry, glass, and other materials approved in each specific instance. Plain concrete block walls, asbestos board, panelized wood siding, sheet metal, plastics or , similar materials are prohibited. Concrete, brick, or fibre rein- forced concrete panels are encouraged for Lots 1, 2, and 3. DECLARATION OF CONDITIONS -5- � and will be required for a high-rise structure on Lots 10 , 11, and 12. Except for specially textured concrete or masonry walls and glass, exterior surfaces are to be painted, stained, or fac- tory finished with long-lasting, low-maintenance materials and in natural surroundings and environment. The use of reflective glass will be evaluated and approved or dis-approved by the Approval Authority in its sole judgment on a case-by-case basis, consider- ing factors of location and adjacency to other buildings or poten- tial buildings, and considering potentially adverse or beneficial effects on surrounding properties. � ry Roof materials shall be non-reflective and earth color- � ed. Where pitched roofs are allowed for structures of decorative � trim, roofing materials and design are subject to approval or p dis-approval in its sole judgment in each instance by the Approval � Authority. c� � 4 . 10 UTILITY SERVICES. All utility services, including telephone and electrical shall be located underground with power transformers, electrical and gas meters located, painted and screened as approved in each instance by the Approval Authority. Fire �prinkler water risers are to be located inside buildings or underground. 4. 11 GROUND SURFACE. On developed sites, ground surfaces are to be dust-free with seeding, landscaping, or pavement. Parking areas are to be hard surfaced with approved paving mater- ials and section, normally asphalt or concrete. , 4. 12 SITE GRADING AND EXCAVATION. Without supporting data from a professional soils engineer or geologist as to the ground stability, cut slopes are limited to 2: 1 (horizontal to vertical) in areas of weathered till or loose sand and gravel, and slopes in filled or more stable areas are not to exceed 3:2. 4 .13 FENCES. Fences (except for screening of outdoor stor- age or equipment) are prohibited, and fences may not be closer to front or side streets than actual building setbacks. ARTICLE V. MAINTENANCE AND ENFORCEMENT 5.01 SITE MAINTENANCE. Maintenance of pavement surfaces, structures, landscaping, storm drainage systems, and the like (on each site) shall be the individual responsibility of each Property owner and their tenant(s) . Maintenance shall include (but is not limited to) repainting or staining exterior surfaces at least each four (4 ) to six (6 ) years to approved colors and design, keeping equipment and material screens attractive and in good repair, with continued regular landscape maintenance (including mowing, ferti- lizing, trimming, and weeding) under continuing contract with a commercial contractor approved by the Approval Authority, prompt and regular trash and rubbish removal, sweeping, pavement sealing and resurfacing as needed with prompt repair of cracks and pot- holes, and regular cleaning of on-site storm water catch basins. 5. 02 COMMON AREA MAINTENANCE. Areas and improvements for the use or benefit of occupants in the business park, which are not main- tained by public entities, will be maintained and repaired by the Approval Authority or its designeee, including, but not limited to, the maintenance and repair of streets, sidewalks, trails, landscaping, storm drainage and other utilities and signs, with all direct costs pro-rated to property owners (including ONE VALLEY PLACE) on a pro- rata per square foot ownership basis, billed and paid annually, and such amounts, with late payment interest charged at twelve percent (12$) per annum, and all costs and expenses of collection, including attorney's fees , shall be a lien against the interest of any such owner of any Parcel of the Property. _ DECLARATION OF CONDITIONS -6- � � 5.03 CONSTRUCTION MAINTENANCE. Construction materials must be stored on-site in a neat and orderly fashion. Sites and con- struction areas are to be maintained free and clear of rubbish and scrap accumulation, with any debris storage screened from public streets or nearby residential areas. On-site temporary construc- tion trailers and shacks are permitted on the construction site so long as they are well maintained in good repair , finish, neat and orderly. Temporary storm water control measures required by the City of Renton are to be maintained by the construction contractor under the site owner ' s authority, and are subject to enforcement by the Approval Authority. 5.04 ENFORCEMENT. H � (a) If the owner of any Parcel of the Property fails to O maintain its site and improvements as required by these CC & R' s, � or otherwise fails to comply with these CC & R' s, for a period of � twenty (20) days (or 60 days in the instance of repainting or M repaving) following written notice from the Approval Authority � detailing such failure, the Approval Authority or its designee may enter upon the premises without liability, and cure such failure on a single or continuing basis and such owner shall be liable for all amounts expended in that regard, with interest thereon at the rate of eighteen percent (18�) per annum, and all costs and expenses of collection, including attorney' s fees, and all such amounts shall be a lien against the interest of any such owner in the Property. The Approval Authority may, but need not record notice of such lien or the one created under 5.02 with the Ring County Office of Records and Elections. The lien created by this section and by 5.02 shall be subordinate only to the liens of general real estate taxes and assessments, and the liens of bona fide first mortgages or trust deeds given for value and held by institutional investors, and may be foreclosed in a like manner as a real estate mortgage is foreclosed in Washington, but without redemption. (b) All of the provisions of these CC & R's shall run with the Property an8 each Parcel thereof shall be enforceable in equity. So long as there is an Approval Authority, it shall have the exclusive right to enforce the provisions of these CC & R' s, without liability for failure to do so, except that each record owner of any Parcel of the Property shall have the right to en- force provisions hereof to the extent then applicable to its Property if the Approval Authority shall fail to do so within thirty ( 30) days after written request from any such owner . If after there ceases to be an Approval Authority, each record owner of any Parcel of the Property or an association formed by the record owners of a majority of the Property (a new "Approval Authority" ) , shall have the right to enforce these CC & R's then applicable to such owner ' s Property without liability for failure to do so. In connection with any suit brought by the Approval Authority, or any owner, to enforce any of these CC & R' s the prevailing party shall be entitled to recover its reasonable attorney' s fees together with all related expenses and costs. 5.05 APPOINTMENT. Upon taking title to any Parcel within the office park, each owner irrevocably appoints the Approval Authority as its attorney-in-fact for the purpose of enforcing these CC & R' s. ARTICLE VI. PLANS AND SPECIFICATION APPROVAL 6.01 PLAN SUBMITTAL. Prior to the submittal of plans and specifications to the City of Renton or other permit authority for approval , each owner or tenant shall submit three (3) sets of those plans to the Approval Authority for its preliminary approv- al. Preliminary plans and specifications are to include a site rough grading plan and a landscaping plan ( indicating building locations, pavement and parking areas, landscaping, any sidewalks or trails, approximate locations and size of any trees removed from the size, the location and screening for trash containers, DECLARATION OF CONDITIONS -7- utility transforme�s and meters, sign locations, any exterior storage, parking lot striping, dimensions, area and site coverage calculations, and materials) and building elevations also showing dimensions, material finishes and textures, and the paint or color scheme. Follow- ing preliminary plan approval, but prior to submittal of construction working drawings for City permit or approval, each owner or tenant shall submit final working drawings and specifications for the Approval Authority' s approval, including all final site civil and landscaping plans as well as building construction plans, and including any fire sprinkler systems, as well as samples of materials, finishes, and colors. All submittals are to be made in at least three (3) sets, one to be retained by the Approval Authority. �i � 6 .02 DESIGN REVIEW FEE. A fee of One Hundred Fifty Dollars p ($150.00) shall accompany submittal of plans for the Approval OAuthority' s approval. r-1 . � 6.03 APPROVAL SCHEDULE. Any plans or specifications submit- � ted for the Approval Authority's approval and not specifically approved, conditionally approved, changed, modified or disapproved by the Approval Authority within thirty (30) days of the appli- cant's submittal shall be deemed approved. The Approval Authority may afford waivers or variances of any of these CC & R's in con- nection with the approval of any plans, so long as such waivers or variances will not be significantly detrimental to the overall environment of the business park, or to any particular owner within the office park. 6 .04 LIABILITY. Neither ONE VALLEY PLACE nor ONE VALLEY PLACES' Successor , a signs, employees or agents shall be liable in damages to anyone submitting preliminary or operational plans and specifications for approval, or to any lessee or owner of any land affected by this Declaration or otherwise, by reason of mistake in judgment, negligence or nonfeasance arising out of or in con- nection with the approval or disapproval or failure to approve any such plans and specifications, or enforcement of these CC & R' s. In acquiring title or interest to Property in the office park, every owner or lessee agrees that ONE VALLEY PLACE, ONE VALLEY PLACES' Successor , assigns, employees, or agents shall not suffer any liability or obligation for any damages whatsoever related to approval or disapproval of plans and specifications, and that they will not bring any action or suit to recover such damages. ARTICLE VII. !lEMBERSHIP AND VOTING RIGBTS. 7.01 Every owner of a Parcel in the Property shall be a member of an unincorporated Association of all Parcel owners. Membership shall be appurtenant to and �may not be separated from ownership of any Parcel in the Property. 7.02 The owner of each Parcel shall have one vote in all Association matters. The Association shall be governed by a committee of three ( 3) members, who shall be elected by the vote of the owners of Parcels in �the Property. Such committee shall prepare budgets for assessing Parcel owners in order to establish a reserve fund for common maintenance matters, including the maintenance of the storm retention pond, landscaping, management of the Properties and other matters. The committee shall make recommendations to th� Parcel owners at meetings called upon ten (10) days written notice to all Parcel owners. Any action which is approved by a majority vote of the Parcel owners at such meet- ing shall become binding upon all Parcel owners and shall be collected and paid in accordance with Article VIII below. 7.03 The committee members shall be elected annually at an annual meeting called for that purpose. DECLARATION OF CONDITIONS -8- � ARTICLE VIII. COVENANT FOR MAINTENANCE ASSESSMENTS. 8. 01 CREATION OF THE LIEN AND PERSONAL OBLIGATION FOR ASSESSMENTS. Each Parcel owner within the Properties hereby covenants and agrees to pay to the Association: (1) annual assess- ments or charges, and (2) special assessments for capital improve- ments, such assessments to be established and collected as herein- after provided. The annual and special assessments , together with interest, costs, and reasonable attorney's fees, shall be a charge � on the Parcel and shall be a continuing lien upon the Parcel � against which such assessment is made. Each such assessment, to- Ogether with interest, costs, and reasonable attorney' s fees shall � also be the personal obligation of the person who is the Owner of the 0 Parcel at the time when the assessment fell due. ri P"� 8. 02 PURPOSE OF ASSESSMENTS. The assessments levied by the � Association shall be used exclusively for the improvement and maintenance of the common areas of the Property including, but not limited to, the establishment of a fund for the maintenance of the access road and storm sewer, storm retention pond, off-site and on- site landscaping, street lighting, decorative sign lighting, manage- ment of the common areas and other related matters . 8.03 SPECIAL ASSESSMENTS FOR CAPITAL IMPROVEMENTS. The Association may levy on an annual basis, or more often if the Association deems desirable, assessments for the purpose of defray- ing the cost of maintaining the common areas, including the storm retention pond, landscaping, management, and other expenses related to the maintenance of such common areas; provided that any expendi- ture greater than $�f�p�shall require the majority approval of the Parcel owners at a meeting of the Association. 8. 04 UNIFORM RATE OF ASSESSMENT. All annual or special assessments must be fixed at a uniform rate for all lots. 8. 05 EFFECT OF NONPAYMENT OF ASSESSMENTS : REMEDIES OF THE ASSOCIATION. Any assessment not paid within thirty (30) days after the due date shall bear interest from the due date at the rate of eighteen percent (180) per annum. The Association may bring an action at law against the Parcel owner personally obligated to pay the same, or foreclose the lien against the Property. No owner may waive or otherwise escape liability from the assessments provided for herein by non-use of the common area or abandonment of his Parcel. 8 .06 SUBORDINATION OF THE LIEN TO MORTGAGES. The lien of the assessments provided for herein shall be subordinate to the lien of any first mortgage. Sale or transfer of any Parcel shall not affect the assessment lien. However , the sale or transfer of any Parcel pursuant to mortgage foreclosure or any preceding in lieu thereof, shall extinguish the lien of such assessments as to payments which became due prior to such sale or transfer . No sale or transfer shall relieve such Parcel from liability for any assessments thereafter becoming due or from the lien thereof. ARTICLE IX. PURCBASE PRIORITY 9.01 ONE VALLEY PLACE'S PRIORITY. No lot or Property within the office park which does not contain a finished building struc- ture (with a certificate of occupancy issued-therefor) may be sold or resold to any third party without the owner having first pro- vided written notice to ONE VALLEY PLACE or ONE VALLEY PLACE'S Successor in each instance, offering to sell the Property to ONE VALLEY PLACE or ONE VALLEY PLACE'S Successor , as the case may be, upon such terms and conditions as the owner is willing to accept, and ONE VALLEY PLACE or ONE VALLEY PLACE'S Successor waiving in writing its right to purchase such Property upon said terms and conditions. DECLARATION OF CONDITIONS -9- . �. �. . � . . ^ � . 'r ' • � . 9.02 TIME LIMITATION. Notice of intent to sell such Prop- erty and the acceptable terms shall be delivered to ONE VALLEY PLACE or ONE VALLEY PLACE'S Successor , with a twenty ( 20) day response period. Failure by ONE VALLEY PLACE or ONE VALLEY PLACE'S Successor to respond with acceptance, or its written denial during the twenty (20) day period shall permit the then- owner to sell the same Property to any third party, on substan- tially the same basic terms and conditions. 9.03 EXEMPTIONS. ONE VALLEY PLACE'S purchase priority shall not apply to any institutional investor , either acquiring or � disposing of a lot in which it holds a mortgage interest, or to � any duly advertised public sale havinq open bidding as provided by � law. ONE VALLEY PLACE'S purchase priority shall not apply to any p Property containing finished building structures for which an � o,ccupancy permit has been issued. All decisions of the Approval � Authority shall be final , and none shall be subject to judicial or pp other review. ARTICLE X. MISCELLANEOUS 10.01 TERM. These CC & R's and every provision hereof, shall continue in full force and effect for a period of fifty (50) years from the date hereof, and shall be renewed automatically for successive five (5) year periods thereafter unless and until terminated as provided below. 10.02 MODIFICATION. These CC & R's or any provision thereof may be extended, modified o� a,uended as to the whole or any part of the Property, as follows : The Approval Authority shall send written notice which notice shall be deemed received three ( 3) days after deposit in the United States mails (certified, return receipt requested) to all owners of any interest in any Parcel of the Property (as evidenced by the names and addresses ttien showing on the real estate tax rolls; unless such owner has given the Approval Authority written notice of a different identity or address) specifying the precise changes to be effe�ted to these CC & R' s. Unless within thirty ( 30) days of such notice, owners of over fifty percent ( 50$) of the total acreage of the office park (excluding land dedicated to the public) have objected in writing to Approval Authority, Approval Authority may record notice of such extension, modifica- tion, or amendment, which notice shall include a certificate to the effect that compliance has been had with this Section 10.02 and that it has not received objections from owners of more than fifty percent ( 50$) of the total acreage of the office park, which record notice shall be conclusive evidence of such facts and that these CC & R's have been so extended, modified or amended. 10.03 SEVERABILITY. All of the CC & R's hereunder shall be construed together , but if it is at any time held that any part or provision is invalid or unenforceable, no other provision of the CC & R's shall be thereby affected or impaired. 10.04 OWNER'S LIABILITY. Upon sale of a particular Parcel or Property, the selling owner shall have no continuing liability for obligations accruing subsequent to the date of conveyance, but such sale shall not relieve the new owner of the obligation to correct any continuing deficiencies or violations of these CC & R's. DATED this � day of ���v��,,!?� , 198� �, ' ONE VALLEY PLACE BY� �=�1. G�t��--�� 2�-�z---� ��.1 M. ?�c�c �,,� BY:� ��:C�Nv�-s►� I,.:� a ��r -�`,�.c� - Hy: � �,?�.�8x) Ct.0 ��-•0,J� 2S( �. /N +9 C(_ DECL�RAT N OF CO DITI S -10- . ,. .w . . � � � � i . _ -, � � i STATE OF WASHINGT4N � � ss. County of Ring � On this 27� a�Y o£ _12���----' �-9-�-3' before me the undersigned , a notary pub2ic in anc� for the State of � Washington, c3uly cammissioned and sworn��e�����f�gPearea DARYL CONNELL, 'Si�`i a k ed e8 tbe t�t> sai@ instrument to be the free and voluntary act and deed of said � PARTNERSHIP for the uses and purposes therein mentioned, and on p oath stated that they were authorized to execute said instrument, r1 and that 'the seal affixed is the corporate seal of said corpora- Mtion. �p In Witness Whereof I have hereunto set my hana and affixed my official seal the day and year first above written. ; -, � � . .` � �..�- -� �'r�����. .�-�.:� � , Not ry Public in and for �,•, �Y, �,.',-, the State of Washington, '„"`; ' `r , " residing at: ���� . STATE OF Washington K i ng ss. County of__ 4n this 2 7�h day of OctOber' ._ ,A.D. 198 3 befaxe me,the undersigned,a Natary Public in and far the State of Washington , duly commissioned and swarn personally appeared Lynn O. Hurst to me known to be the individual who executed the foregoing instrument as attorney in fact of Dean M. Rackey and Frances A. Rackev, husband and wife, therein described, and acknowledged to me that he signed and sealed the said instrument as such attorney in fact for said principal, freely and voluntarily, for the uses and purposes therein mentioned, and on oath stated that the power of attarney authorizing the execution of this instxument has not been revoked and thaY the said __ , _ � ,��n M. RockeY and Frances A. RockeY are �S n,ow living. WITI`I��S zny hand and official seal hereto affixed the day and ye r in this certifrcate first above written. f._t..�... � � � ' . Was gton ` � Notary Public in and fq the Sta e reaidinK a! {Acknowledgmcnt by Attorney in Fact. Pioneer National Title Insurance Ca. Form l.34) DECLARATION OF C4NDITIONS —11— • ' • . • • . � STATE OF WASHINGTON ) ) ss. County of Ring ) � �� On this �_� ay of � , 19�3 , before me personally appeared �, ' �.�-� to me known to be the individual(s) described in and who executed the within and fore- going instrument, and acknowledged that he/ she/ they signed the same as his/ her/ their free and voluntary act and deed, for the r,,,� uses and purposes therein mentioned. ri � � � In Witness Whereof I have hereunto set mX hand and affixed my � ,,�q�•�z�.ial seal the day and year first above written. C� `�� 't ° � ,� :� _ . � , �'�: � . � + � _.� - pp ' - - - Notary Public i and or - � �'`� the State f Wa ington, - ' '� � r • residing at� _ � , ,..` . c. ' . P� °,•�• .• •� S�g, V � ',',� S'�AT'$� OF WASH INGTON ) ) ss. County of Ring ) On this day of , 19 , before me �ersonally appeare� to meTcriown to be the individual(s) descri �e in an w o execute the within and fore- going instrument, and acknowledged that he/ she/ they signed the saine as his/ her/ their free and voluntary act and deed, for the uses and purposes therein mentioned. In Witness Whereof I have hereunto set my hand and affixed my official seal the day and year first above written. Notary Public in and or the State of Washington, residing at: � � . FILED FOR RECORD AT REQUEST Of OFfICE�il�qTY CIERK �ENTON MUN�IPAL BLD6. 200 M�l AYE.S0. a�ai,w�sa� . , � ` - � � R� M . . �. •. ��. � EXHIBIT � � THE LAND REFERRED TO IN THIS COMMITMENT IS SITUATED IN THE � COUNTY OF KING, STATE OF WASHINGTON, AND IS DESCRIBED AS FOLLOWS: PARCEL A The west 4 acres of the east half of the northwest quarter of the southwest quarter of the northeast quarter of Section 31 , Township 23 North, Range 5 East, W.M. , in King County, Washington; N EXCEPT the south 10 feet of the north 30 feet thereof, conve ed to Kin Count for road b deed recorded under � Y � Y Y ORecording Number 1146648; and � LESS that portion deeded to the State of Washington for Primar State Hi hwa No. 5 de d c rded under Recordin p y g y by e re o g � Number 5310544. � PARCEL B � '�� The east half of the northwest quarter of the southwest quarter of the northeast quarter of Section 31, Township 23 North, Range 5 East, W.M. , in King County, Washington; EXCEPT t'he west 4 acres thereof; ALSO BEGINNING at a point on the south boundary of the west . half of the northeast quarter of the southwest quarter of � the northeast quarter of Section 31, Township 23 North, Range 5 East, W.M. , in King County, Washington, which is 184 feet east from the southwest corner thereof; thence westerly 184 feet; thence northerly along the west boundary thereof to the north line of said subdivision; � thence easterly 84 feet along said north line; thence southeasterly to the point of beginning; EXCEPT that portion thereof conveyed to the State of Washington for South 180th Street and for Primary State Highway No. 5 recorded under Recording Number 5296778. PARCEL C The west half of the northeast quarter of the southwest quarter of the northeast qt�arter of Section 31 , Township 23 North, Range 5 East, W.M. , in King County, Washington; EXCEPT that portion thereof lying westerly of a straight line extended from a point on the north line thereof 84 feet east of the northwest corner thereof to a point on the south line thereof 184 feet east of the southwest corner therof; and EXCEPT that portion lying within county road. . . , ,� . PARCEL D Th at portion of the north half of the south half of the south half of the northeast quarter of Section 31, Township 23 North, Range 5 East, W.M. , in King County, Washington, lying west of Cou�ty Road No. 80, known as the Kent-Renton Road; EXCEPT the south 133.00 feet of the east 327.50 feet; and EXCEPT the north 133.00 feet of the east 310.00 feet thereof; and � EXCEPT that portion portion condemned for Primary State � HigY�way No. 5, South 228th Street in Kent-Renton by State of � Washington in King County Superior Court Cause Number � 573456. O � �-i � � ._^�n�� rn }E�i�;t��,� ;,,,_,,,�,,�_ �`,,� � ii 23 ����� ` OF , � ��1i`11�i0�,;-�5 ; �,� � �� � ,., ��,, . _,;.•,.��ai�;��,����iNl Y ; , . ._ia') }'"��rl ..�t(.�.J(1;]'' .'vn.fFi �t �'t��.,,�•� � n:,. i,i �p��, �t •:�,rs �,�t•. , , ,� , , �.. . _ , . , _ OFFtCB OF THS C1Tft CI�RK RTNTON M�JNIC�ALBi� 50011�1.AVS.80UTS RENTON,WA 98066