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Home My WebLink AboutA 20170127001126 � F ' *� � �` ' " �� c (.-� �( $'� l (, o After recor�ling return document to: � �� g�dt � � City of Renton City Clerk 1055 S. Grady Way Renton, WA 98057 20170127001126 PAGEI001 OF 006ASA� 78•00 01/27/2017 14:28 KING COUNTY, Wp Document Title: ASSUMPTION AND RELEASE OF LIABILITY AGREEMENT Reference No. of Document Assigned or Released: 20090323000138 Grantor(s): RENTON REGIONAL FIRE AUTHORITY, a Washington regional fire protection service Additional Grantor(s) on Page: N/A Grantee(s): CITY OF RENTON, a Washington municipal corporation Additional Grantee(s) on Page: N/A Abbreviated Legal: Parcels A and B, Section 32, Township 23 North, Range 5 East, King County, WA Additional Legal on Page: 2 Assessor's Parcel ID: 3223059091 and 3223059106 ASSUMPTION AND RELEASE OF LIABILITY AGREEMENT THIS ASSUMPTION AND RELEASE OF LIABILITY AGREEMENT ("Agreement') is entered into this �� day of �� titi�c�v'� , 2016, between UTY OF RENTON, a Washington municipal corporation, RENTON REGIONAL FIRE AUTHORITY, a Washington regional fire protection service authority, and KING COUNTY FIRE PROTECTION DISTRICT NO. 40, a Washington municipal corporation: WHEREAS, a note in the principal sum of six million seven hundred ninety-eight thousand eighty-five dollars and no cents ($6,798.085.00) was executed by City of Renton on March 13, 2009 ("Promissory Note"), and delivered unto King County Fire Protection District No. 40 for payment of this sum together with interest at the rate and upon the terms as more fully set forth in the Promissory Note; and WHEREAS, a deed of trust was also executed, acknowledged and delivered of even date therewith, and was recorded under King County Recording No. 20090323000138 on March 23, 2009 ("Deed of Trust"), securing the debt with the property described as follows: Page 1 of 6 p ! , , THE SOUTH ONE-TENTH OF THAT PORTION OF THE WEST HALF OF THE WEST HALF OF THE NORTHWEST QUARTER OF THE NORTHEAST QUARTER OF SECTION 32, TOWNSHIP 23 NORTH, RANGE 5 EAST, W.M., IN KING COUNTY, WASHINGTON, LYING SOUTH OF THE NORTH 30 FEET THEREOF; EXCEPT THE WESTERLY 40 FEET FOR ROAD, AS CONVEYED BY DEEDS RECORDED UNDER RECORDING NOS. 7207240576, 7608200606 AND 7609170481, RECORDS OF KING COUNTY AUDITOR; PARCEL B: THE NORTH ONE-FIFTH OF THE WEST HALF OF THE WEST HALF OF THE NORTH HALF OF THE SOUTHWEST QUARTER OF THE NORTHEAST QUARTER OF SECTION 32, TOWNSHIP 23 NORTH, RANGE 5 EAST, W.M., IN KING COUNTY, WASHINGTON; EXCEPT THE WEST 30 FEET THEREOF CONVEYED TO KING COUNTY FOR ROAD BY DEED RECORDED UNDER RECORDING NO. 791757; AND EXCEPT THOSE PORTIONS CONVEYED BY DEEDS RECORDED UNDER RECORDING NOS. 7204110359 AND 20060825002228, RECORDS OF KING COUNTY AUDITOR; SITUATE IN THE COUNTY OF KING, STATE OF WASHINGTON. (the "Property"); and WHEREAS, under the terms of a voter approved Renton Regional Fire Authority Plan, City of Renton is to convey the Property to Renton Regiona) Fire Authority, but maintain responsibility for the Promissory Note; and WHEREAS, City of Renton affirms its obligation to continue to pay the secured debt according to the terms of the Promissory Note; and WHEREAS, Renton Regional Fire Authority desires to assume the terms of the Deed of Trust, except the obligation to pay the Promissory Note and any associated expense or indemnification obligations established under the Deed of Trust related to the obligation to pay the Promissory Note; NOW, THEREFORE, in consideration of mutual benefits of the parties hereto and good and valuable consideration, the receipt of which is acknowledged, the parties do hereby covenant and agree as follows: A. King County Fire Protection District No. 40 agrees to and authorizes transfer of ownership of the Property from the City of Renton to the Renton Regional Fire Authority and Page 2 of 6 . • ' � agrees not exercise its right to declare all sums secured by the Deed of Trust immediately due and payable by reason of the anticipated conveyance of the Property. B. King County Fire Protection District No. 40 unequivocally accepts Renton Regional Fire Authority as the primary obligator under the terms of the Deed of Trust, except that the City of Renton will remain responsible for payment of the secured debt in accordance with the Promissory Note. C. Renton Regional Fire Authority assumes, covenants, and agrees to all terms in the Deed of Trust. D. If the City of Renton defaults on its obligation to pay the Promissory Note debt, the City of Renton agrees to defend, hold harmless, and indemnify the Renton Regional Fire Authority for any claims or damages caused by such default. E. If the Renton Regional Fire Authority defaults in the performance of any obligation assumed within the Deed of Trust, Renton Regional Fire Authority agrees to defend, hold harmless, and indemnify the City of Renton for any claims or damages caused by such default. [The remainder of this page is blank; signatures follow.] Page 3 of 6 � � A • Dated this�day of ��-L�tn�''(�._ 201�. RENTON REGIONAL FIRE AUTHORITY -----_____--____.._.-- . y: Rick Marshall Its: Fire Chief STATE OF WASHINGTON ) ) ss. COUNTY OF KING ) �W- On this � day of 2C�.Vh�P.v, 2016, before me personally appeared Rick Marshall, to me known to be the Fire Chief of RENTON REGIONAL FIRE AUTHORITY, a Washington regional fire protection service authority that executed and acknowledged said instrument to be the free and voluntary act and deed of said muni ipal corporation, for the uses and purposes therein mentioned, and on oath stated that �/l� was authorized to execute said instrument. DATED �G2/yt�P1I �� , 2016. ,,,,,��,,,,� .��p.N1F.'Q� ' ,, , = � `qStON F .� "'-,��; r"��p7A�qY�'�.G� (Signature) = � ....._ �, _ S'�'-e�P h avl�{ �ar� - �°Ug�,1� :z = (Name legibly printed or stamped) : 9,�'•.,�► � �'ti ' Notary Public in and for the State of Washington, �., ��'�'�''�'�r residing at Ct ,,fi OF w tis��``��.='. . ��,,,,��,,,�� My appointment expires: /�f (Affix Notary Stamp or Seal Here) Page 4 of 6 � , . . CITY OF RENTON By: Denis Law Its: Mayor ``\�a��u u�i i►��i,� �`` pF R ENr '��. . ATTEST: +��•��•�w��.��m��,,�'��0,l,'�,,.,', - v? �. 's : � �) : * ' gEAL _ � _ L � p� � � � � �''' � � � ` � � a! � Jason A eth City rk '��i�'yCQ��i u��H��`�``Q'��\��1: ��4,��P�RATEO`'��.�`� � STATE OF WASHINGTON ) ) ss. COUNTY OF KING ) r On this,,,Z��day of � ��,,----iG,��2016, before me personally appeared Denis Law, to me known to be the Mayor of THE CITY OF RENTON, a non-charter code city under RCW 35A.03 and a municipal corporation of the state of Washington that executed the within and foregoing instrument, and acknowledged said instrument to be the free and voluntary act and deed of said municipal corporation, for the uses and purposes therein mentioned, and on oath stated that he was authorized to execute said instrument. DATED ��'s��<,�--�� c-�- � , 2016. \e��\\:\\11��+'t` � ,e�,`�'� /�?� �� 1 � ..:� ��,..�`�gSIG`��F+i��/� __ �� -rQ�,,4 � (Sjgna ure) � � � OTq,p �4, j i � � .:C3 ? L 'p�: i �..-��n:f��„ � �i��G 'v � " ' �'= % (Name legibly printed or stamped) �� '% A�$�`� � = Notary Public in.and for the State of Washington, i.�:��'��,,1C•27.1� ,�',��=w 'i� t� '��,�,»�,..��, C� � residing at �-��--�-�. �f��i��F w�sH�;�.�-.�" My appointment expires: '' � s�t�►��`� (Affix Notary Stamp or Seal Here) Page 5 of 6 � -� ' � ' ` KING COUNTY FIRE PREVENTION DISTRfCT NO. 40 ; �r �`yF,n.r?,f''�,.r' �..s r.~ i�.,Ji`� BY� L—itiDF� S�T�u�� ' (ts: �:,G�{�j GG �}�.�'� � [': " STATE OF WASHINGTON ) x )ss. COUNN OF KING ) :�� On this � day of�N �81-�; before me personaliy appeared �---��'�� rti��, to me known to be ` e �c-:��-�i� C:�� of KING COUNTY FIRE PROTECTION DISTRICT N0. 40, a municipal corporation of the state of Washington that executed the within and foregoing instrument, and acknowledged said instrument to be the free and voluntary act and deed of said municipal corporation, for the uses and purposes therein mentioned,and on oath stated that�tiz was authorized to execute said instrument. �' DATED=.�-��= .L� •� � ��- �-�--'1 �; �� iiiiii�if�i�� .__ �� .�`�� •T E•'� ��'''. �. � �� P� '��ssion F•��' '% �' ; U�oF`� ��;;;,92= (Signature) � � �� _ :u �.10TA R y `��': - � l�m�= 1�,`�� = �'� = (Name legibly printed or stamped) = u,�'• p�B��G �� Notary Public i��n" and for the State of Washington, '%��q '•�S:07.20��•'��.�� residingat �'{�ti-�:,� r• '� �� ••. .... . '` � 9� / G' / \ . � \ c ; '�,,��OF WqgN�� My appointment expires:��i 7 (Affix Notary Stamp or Seai Here) �; � � �; Page 6 of 6