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HomeMy WebLinkAboutCOW 2008-11-10 Item 5E - Purchase - 5800 South 152nd Street Open Space for $150,000CAS NUMBER 08-140 SPONSOR'S SUMMARY RI :A'IIA\'1 {D BY MTG. DATE 1 11/10/08 o /go AGI .ND.\ Tr11.1 Open Space Acquisition CA'I'I {GORY Discussion Motion Resolution Mr Date 11/10/08 Alt8 Date 11/17/08 Alts Date COW Mtg. Utilities Cmte COUNCIL AGENDA SYNOPSIS Lutials Prepared by 1 Mayor's review 1,_ -uncil review Meeting Date 11/10/08 BF h ITEM INFORMATION CA &P Cmte Arts Comm. U Ordinance Mtg Date fl ORIGINAL AGENDA DATE: November 10, 2008 F &S Cmte Q Parks Comm. DALE: October 27, 2008 RECOMMENDATIONS: SPONSOR /ADMIN. Approve purchase COMMDTEE Unaminous approval; Forward to Committee of the Whole COST IMPACT 1 FUND SOURCE RECORD OF COUNCIL ACTION MTG. DATE ATTACHMENTS 11/10/08 Informational memorandum dated 10/22/08 Purchase and Sales Agreement Minutes from the Community Affairs and Parks Committee of 10/27/08 ITEM NO. J. c Bid Award Public Hearing Other Altg Date Altg Date Altg Date I SPONS()R Council Mayor Adm Svcs DCD n Finance Fire Legal P&R Police PIV The Parks and Recreation Department is seeking approval to purchase 1.74 acres of land for open space preservation. The property is located at 5800 S 152' Street and adjoins the Tukwila Elementary School and is surrounded by many apartement complexes. After negotiations with the Boys and Girls Club of Thurston County, a purchase price of $150,000 was agreed upon. The funding will come from the CIP REET funding. Transportation Cmte Planning Comm. ExPI N DITURI s R1 iQUIRE D AMOUNT BUDGETED APPROPRIATION REQUIRED $150,000 $150,000 Fund Source: 301 FUND, PAGE 91N 2008 CIP Comments City of Tukwila 6200 Southcenter Boulevard Tukwila, Washington 98188 Jim Haggerton, Mayor MEMORANDUM TO: Mayor Haggerton Community Affairs and Parks Committee FROM: Bruce Fletcher, Director of Parks and Recreation DATE: October 22, 2008 SUBJECT: Open Space Acquisition The Parks and Recreation Department has been contacted by a representative of the Boys and Girls Club of Thurston County to acquire available open space land in Tukwila. The 1.74 acre site is located at 5800 S 152 Street and adjoins the Tukwila Elementary School property. When first approached to purchase this land, the askmg price was $799,000 and is zoned at medium density residential. The property is surrounded by many apai t,.uent complexes and homes and this green space would be ideal to preserve as open space instead of the proposed apartment unit site. The open space need is justified by the current Parks and Open Space Plan which has identified a deficit of open space of 12.68 acres by the year 2022. With the property location next to a local elementary school and near our #7 foot trail, it certainly fits the need to move forward with the open space proposal. After negotiations with the Boys and Girls Club real estate representative, a purchase price of $1 50,000 was agreed upon. The funding will come from the current 2008 Capital Improvement Program for parks and trails. It is the recommendation of the Director of Parks and Recreation to approve the purchase and sale agreement of $150,000 for the 1.74 acres located at 5800 South 152 Street. Cc. Rhonda Berry, City Administrator Phone: 206 433 -1800 0 City Hall Fax: 206- 433 -1833 www.ci.tukwila.wa.us INITIALS: Buyer Buyer GVA Kidder Mathews Worldwide Real Estate Solutions GVA Kidder Mathews 1201 Pacific Avenue, Suite 1400 Tacoma, WA Phone: (253) 383 -5693 Fax: (253) 572 -2648 COMMERCIAL INVESTMENT REAL ESTATE PURCHASE SALE AGREEMENT (CONTINUED) TS /crfegat/5800 South 152' St PS_ 1A 1008 Date Date Selfer Date Seller Date O Copyright 1999 2005 Commercial Brokers Association All Rights Reserved CBA Form PS_1A Purchase Sale Agreement Rev 7/07 Pane 1 0113 Reference Date: October 7, 2008 City of Tukwila "Buyer") agrees to buy and Boys and Girls Clubs of Thurston County "Seller") agrees to sell, on the following terms, the commercial real estate and all improvements thereon (collectively, the "Property") commonly known as 5800 South 152 Street in the City of Tukwila, King County, Washington, legally described on attached Exhibit A. The Reference Date above is intended to be used to reference this Agreement, and is not the date of "Mutual Acceptance." Mutual Acceptance is defined in Section 23 below. 1. PURCHASE PRICE. The total purchase price is One Hundred Fifty Thousand and No /100 Dollars ($150.000.00) payable as follows (check only one): All cash at closing with no financing contingency. All cash at closing contingent on new financing in accordance with the Financing Addendum (attach CBA Form PS_FIN). of the purchase price in cash at closing with the balance of the purchase price paid as follows (check one or both, as applicable): Buyer's assumption of the outstanding principal balance as of the Closing Date of a first lien note and deed of trust (or mortgage), or real estate contract, in accordance with the Financing Addendum (attach CBA Form PS_FIN); Buyer's delivery at closing of a promissory note for the balance of the purchase price, secured by a deed of trust encumbering the Property, in accordance with the Financing Addendum (attach CBA Form PS_FIN Other: 2. EARNEST MONEY. The earnest money in the amount of $5,000.00 shall be in the form of Cash Personal check Promissory note (attached CBA Form EMN) Other: The earnest money shall be held by Selling Licensee Closing Agent. Buyer shall deliver the earnest money no later than: days after Mutual Acceptance. On the last day of the Feasibility Period defined in Section 5 below. Other: Selling Licensee may, however, transfer the earnest money to Closing Agent. If the earnest money is to be held by Selling Licensee and is over $10,000, it shall be deposited to: Selling Licensee's pooled trust account (with interest paid to the State Treasurer) A separate interest bearing trust account in Selling Licensee's name. The interest, if any, shall be credited at closing to Buyer If this sale fails to close, whoever is entitled to the earnest money is entitled to interest. Selling Licensee shall deposit any check to be held by Selling Licensee within 3 days after receipt or Mutual Acceptance, whichever occurs later. Buyer agrees to pay financing and purchase costs incurred by Buyer Unless otherwise provided in this Agreement, the earnest money shall be applicable to the purchase price. 3. EXHIBITS AND ADDENDA. The following Exhibits and Addenda are made a part of this Agreement: Exhibit A Legal Description Earnest Money Promissory Note, CBA Form EMN CIA Kidder Mathews Wwtdwidc Rea' Estate Solutions INITIALS: Buyer Date Buyer Date GVA Kidder Mathews 1201 Pacific Avenue, Suite 1400 Tacoma, WA Phone: (253) 383 -5693 Fax: (253) 572 -2648 COMMERCIAL INVESTMENT REAL ESTATE PURCHASE SALE AGREEMENT (CONTINUED) TS /crAegal/5800 South 152 St PS_ 1A 1008 Promissory Note, LPB Form No. 28A/CBA Form N1 -A Short Form Deed of Trust, LPB Form No. 20 Deed of Trust Rider, CBA Form DTR Utility Charges Addendum, CBA Form UA FiRPTA Certification, CBA Form 22E Assignment and Assumption, CBA Form PS -AS Addendum /Amendment, CBA Form PSA Back -Up Addendum, CBA Form BU -A Vacant Land Addendum, CBA Form VLA Financing Addendum, CBA Form PS__FIN Tenant Estoppel Certificate, CBA Form PS_TEC Defeasance Addendum, CBA Form PS_D Other Seller Date Date O Copyright 1999 2005 Commercial Brokers Association All Rights Reserved CBA Form PS_1A Purchase Sale Agreement Rev 7/07 Page 2 of 13 G 4. SELLER'S UNDERLYING FINANCING. Unless Buyer is assuming Seller's underlying financing, Seller shall be responsible for confirming the existing underlying financing is not subject to any "lock out" or similar covenant which would prevent the lender's lien from being released at closing. In addition, Seller shall provide Buyer notice prior to the end of the Feasibility Period if Seller is required to substitute securities for the Property as collateral for the underlying financing (known as "defeasance if Seller provides this notice of defeasance to Buyer, then the parties shall close the transaction in accordance with the process described in CBA Form PS_D or any different process identified in Seller's defeasance notice to Buyer. 5. FEASIBILITY CONTINGENCY. Buyer's obligations under this Agreement are conditioned upon Buyer's satisfaction in Buyer's sole discretion, concerning all aspects of the Property, including its physical condition; the presence of or absence of any hazardous substances; the contracts and leases affecting the property; the potential financial performance of the Property; the availability of government permits and approvals; and the feasibility of the Property for Buyer's intended purpose. This Agreement shall terminate and Buyer shall receive a refund of the earnest money unless Buyer gives written notice to Seller within thirty (30) days (30 days if not filled in) of Mutual Acceptance stating that this condition is satisfied. If such notice is timely given, the feasibility contingency stated in this Section 5 shall be deemed to be satisfied. As used in this Agreement, the term "Feasibility Period" shall mean the period beginning upon Mutual Acceptance and ending upon the satisfaction or waiver of the feasibility contingency. a. Books, Records, Leases, Agreements. Seller shall make available for inspection by Buyer and its agents within days (2 days if not filled in) after Mutual Acceptance all documents in Seller's possession or control relating to the ownership, operation, renovation or development of the Property, excluding appraisals or other statements of value, and including: statements for real estate taxes, assessments, and utilities for the last three years and year to date; property management agreements and any other agreements with professionals or consultants; leases or other agreements relating to occupancy of all or a portion of the Property and a suite -by- suite schedule of tenants, rents, prepaid rents, deposits and fees; plans, specifications, permits, applications, drawings, surveys, and studies; and maintenance records, accounting records and audit reports for the last three years and year to date; and "Vendor Contracts" which shall include maintenance or service contracts, and installments purchase contracts or leases of personal property or fixtures used in connection with the Property. Buyer shall determine within the Feasibility Period: (1) whether Seller will agree to terminate any objectionable Vendor Contracts; and (ii) whether Seller will agree to pay any damages or penalties resulting from the termination of objectionable Vendor Contracts. Buyer's waiver of the Feasibility Contingency shall be deemed Buyer's acceptance of all Vendor Contracts which Seller has not agreed in writing to terminate Buyer shall be solely responsible for obtaining any required consents to such assumption and the payment of any assumption GVA Kidder Mathews fees. Seller shall cooperate with Buyer's efforts to receive any such consents but shall not be required to incur any out -of- pocket expenses or liability in doing so. Seller shall transfer the Vendor Contracts as provided in Section 17 of this Agreement. Any leases, contract or agreements that run with title to the Property are addressed in Section 6(b) below. b. Access. Seller shall permit Buyer and its agents, at Buyer's sole expense and risk to enter the Property at reasonable times subject to the rights of and after legal notice to tenants, to conduct inspections concerning the Property and improvements, including without limitation, the structural condition of improvements, hazardous materials, pest infestation, soils conditions, sensitive areas, wetlands, or other matters affecting the feasibility of the Property for Buyer's intended use. Buyer shall schedule any entry onto the Property with Seller in advance and shall comply with Seller's reasonable requirements including those relating to security, confidentiality, and disruption of Seller's tenants. Buyer shall not perform any invasive testing including environmental inspections beyond a phase I assessment or contact the tenants or property management personnel without obtaining the Seller's prior written consent, which shall not be unreasonably withheld. Buyer shall restore the Property and improvements to the same condition they were in prior to inspection. Buyer shall be solely responsible for all costs of its inspections and feasibility analysis and has no authority to bind the Property for purposes of statutory liens. Buyer agrees to indemnify and defend Seller from all liens, costs, claims, and expenses, including attorneys' and experts' fees, arising from or relating to entry onto or inspection of the Property by Buyer and its agents. This agreement to indemnify and defend Seller shall survive closing. Buyer may continue to enter the Property in accordance with the foregoing terms and conditions after removal or satisfaction of the feasibility contingency only for the purpose of leasing or to satisfy conditions of financing. c. Buyer waives the right to receive a seller disclosure statement "Form 17 if required by Chapter 64.06 RCW. However, if Seller would otherwise be required to provide Buyer with a Form 17, and if the answer to any of the questions in the section of the Form 17 entitled "Environmental" would be "yes," then buyer does not waive the receipt of the "Environmental" section of the Form 17 which shall be provided by Seller. 6. TITLE INSURANCE. a. Title Report. Seller authorizes Buyer, its Lender, Listing Agent, Selling Licensee and Closing Agent, at Seller's expense, to apply for and deliver to Buyer a standard extended (standard, if not completed) coverage owner's policy of title insurance. If an extended coverage owner's policy is specified, Buyer shall pay the increased costs associated with that policy including the excess premium over that charged for a standard coverage policy, and the cost of any survey required by the title insurer. The title report shall be issued by Chicago Title (Seller's choice, if not completed). b. Permitted Exceptions. Buyer shall notify Seller of any objectionable matters in the title report or any supplemental report within the earlier of: (1) twenty (20) days after mutual acceptance of this Agreement; or (2) the expiration of the Feasibility Period. This Agreement shall terminate and Buyer shall receive a refund of the earnest money, less any costs advanced or committed for Buyer, unless within five (5) days of Buyer's notice of such objections (1) Seller agrees to remove all objectionable provisions or (2) Buyer notifies Seller that Buyer waives any objections which Seller does not agree to remove. If any new title matters are disclosed in a supplemental title report, then the preceding termination, objection and waiver provisions shall apply to the new title matters except that Buyer's notice of objections must be delivered within five (5) days of delivery of the supplemental report and Seller's response or Buyer's waiver must be delivered within two (2) days of Buyer's notice of objections. The closing date shall be extended to the extent necessary to permit time for these notices. Buyer shall not be required to object to any mortgage or deed of trust liens, or the statutory lien for real property taxes, and the same shall not be deemed to be Permitted Exceptions; provided that the lien securing any financing which Buyer has agreed to assume shall be a Permitted Exception. Except for the foregoing, those provisions not objected to or for which Buyer waived its objections shall be referred to collectively as the INITIALS. Buyer Date Buyer Woddwidc Real Es121c Solutions Date GVA Kidder Mathews 1201 Pacific Avenue, Suite 1400 Tacoma, WA Phone: (253) 383 -5693 Fax: (253) 572 -2648 COMMERCIAL INVESTMENT REAL ESTATE PURCHASE SALE AGREEMENT (CONTINUED) TS /cr ega1/5800 South 152' St PS iA 1008 Seller Date Copyright 1 999 2005 Commercial Brokers Asso iation All Rights Reserved CSA Form PS_1A Purchase Sale Agreement Rev 7/07 Page 3 0113 Seller__ T Date G GVA Kidder Mathews Worldwide Aral :slate Solutions GVA Kidder Mathews 1201 Pacific Avenue, Suite 1400 Tacoma, WA Phone: (253) 383 -5693 Fax: (253) 572 -2648 COMMERCIAL INVESTMENT REAL ESTATE PURCHASE SALE AGREEMENT (CONTINUED) TS /cr/IegaU5800 South 752' St PS_ 1 A 1008 "Permitted Exceptions." Seller shall cooperate with Buyer and the title company to clear objectionable title matters but shall not be required to incur any out -of- pocket expenses or liability other than payment of monetary encumbrances not assumed by Buyer and proration of real property taxes, and Seller shall provide an owner's affidavit containing the information and reasonable covenants requested by the title company. The title policy shall contain no exceptions other than the General Exclusions and Exceptions common to such form of policy and the Permitted Exceptions. 7. CLOSING OF SALE. This sale shall be closed en within sixty (601 days of mutual acceptance, "closing by Chicago Title and Escrow ("Closing Agent (Seller shall select the Closing Agent, if not completed). Buyer and Seller shall deposit with Closing Agent by Noon on the scheduled closing date all instruments and monies required to complete the purchase in accordance with this Agreement. "Closing" shall be deemed to have occurred when the deed is recorded and the sale proceeds are available to Seller. Time is of the essence in the performance of this Agreement. Sale proceeds shall be considered available to Seller notwithstanding they may not be disbursed to Seller until the first business day following closing. Notwithstanding the foregoing, if Seller informed Buyer during the Feasibility Period that Seller's underlying financing requires that it be defeased and may not be paid off, then closing shall be conducted in accordance with the three -day closing process described in CBA Form PS_D. This Agreement is intended to constitute escrow instructions to Closing Agent. Buyer and Seller will provide any supplemental instructions requested by Closing Agent provided the same are consistent with this Agreement. 8. CLOSING COSTS AND PRORATIONS. Seller shall deliver an updated rent roll to Closing Agent not later than two (2) days before the scheduled closing date in the form required by Section 5(a) and any other information reasonably requested by Closing Agent to allow Closing Agent to prepare a settlement statement for closing. Seller certifies that the information contained in the rent roll is correct as of the date submitted. Seller shall pay the premium for the owner's standard coverage title policy. Buyer shall pay the excess premium attributable to any extended coverage or endorsements requested by Buyer, and the cost of any survey required in connection with the same. Seller and Buyer shall each pay one -half of the escrow fees Real estate excise taxes shall be paid by the party who bears primary responsibility for payment under the applicable statute or code, which is typically Seller. Real and personal property taxes and assessments payable in the year of closing; collected rents on any existing tenancies; interest; utilities; and other operating expenses shall be pro -rated as of closing. If tenants pay any of the foregoing expenses directly, then Closing Agent shall only pro rate those expenses paid by Seller. Buyer shall pay to Seller at closing an additional sum equal to any utility deposits or mortgage reserves for assumed financing for which Buyer receives the benefit after closing. Buyer shall pay all costs of financing including the premium for the lender's title policy. The real estate commission is due on closing or upon Seller's default under this Agreement, whichever occurs first, and neither the amount nor due date thereof can be changed without Listing Agent's written consent. If the Property was taxed under a deferred classification prior to closing, then Seller shall pay all taxes, interest, penalties, deferred taxes or similar items which result from removal of the Property from the deferred classification. At closing, all refundable deposits on tenancies shall be credited to Buyer or delivered to Buyer for deposit in a trust account if required by state or local law. Buyer shall pay all sales or use tax applicable to the transfer of personal property included in the sale. a. Unpaid Utility Charges. Buyer and Seller WAIVE DO NOT WAIVE the right to have the Closing Agent disburse closing funds necessary to satisfy unpaid utility charges affecting the Property pursuant to RCW 60.80. If "do not waive" is checked, then attach CBA Form UA "Utility Charges" Addendum). If neither box is checked, then the "do not waive" option applies. 9. POST- CLOSING ADJUSTMENTS, COLLECTIONS, AND PAYMENTS. After closing, Buyer and Seller shall reconcile the actual amount of revenues or liabilities upon receipt or payment thereof to the extent those items were prorated or credited at closing based upon estimates. Any bills or invoices received by Buyer after closing which relate to services rendered or goods delivered to the Seller or the Property prior to closing shall be paid by INITIALS: Buyer Date Seiler_ Date Buyer Date Seller Date Copyright 1999 2005 Cornmercial Brokers Association All Rights Reserved CBA Form PS_1A Purchase Sale Agreement Rev. 7107 Page 4 of 13 COMMERCIAL INVESTMENT REAL ESTATE PURCHASE SALE AGREEMENT (CONTINUED) TS /cMsgat/5800 South 152' St PS IA 1008 INITIALS Buyer Buyer GVA Kidder Mathews Wvddwide Real Estate Soluiious Seller upon presentation of such bill or invoice. At Buyer's option, Buyer may pay such bill or invoice and be reimbursed the amount paid plus interest at the rate of 12% per annum beginning fifteen (15) days from the date of Buyer's written demand to Seller for reimbursement until such reimbursement is made. Notwithstanding the foregoing, if tenants pay certain expenses based on estimates subject to a post closing reconciliation to the actual amount of those expenses, then Buyer shall be entitled to any surplus and shall be liable for any credit resulting from the reconciliation. Rents collected from each tenant after dosing shall be applied first to rentals due most recently from such tenant for the period after closing, and the balance shall be applied for the benefit of Seller for delinquent rentals owed for a period prior to closing. The amounts applied for the benefit of Seller shall be turned over by Buyer to Seller promptly after receipt. Seller shall be entitled to pursue any lawful methods of collection of delinquent rents but shall have no right to evict tenants after closing. 10. OPERATIONS PRIOR TO CLOSING. Prior to closing, Seller shall continue to operate the Property in the ordinary course of its business and maintain the Property in the same or better condition than as existing on the date of Mutual Acceptance, but shall not be required to repair material damage from casualty except as otherwise provided in this Agreement. After the Feasibility Period, Seller shall not enter into or modify existing rental agreements or leases (except that Seller may enter into, modify, extend, renew or terminate residential rental agreements or residential leases in the ordinary course of its business), service contracts, or other agreements affecting the Property which have terms extending beyond closing without first obtaining Buyer's consent, which shall not be unreasonably withheld. 11. POSSESSION. Buyer shall be entitled to possession Eg on closing (on closing, if not completed). Buyer shall accept possession subject to all tenancies disclosed to Buyer during the Feasibility Period. 12. SELLER'S REPRESENTATIONS. Except as disclosed to or known by Buyer prior to the satisfaction or waiver of the feasibility contingency stated in Section 5 above, including in the books, records and documents made available to Buyer, or in the title report or any supplemental report or documents referenced therein, Seller represents to Buyer that, to the best of Seller's actual knowledge, each of the following is true as of the date hereof: (a) Seller is authorized to enter into the Agreement, to sell the Property, and to perform its obligations under the Agreement; (b) The books, records, leases, agreements and other items delivered to Buyer pursuant to this Agreement comprise all material documents in Seller's possession or control regarding the operation and condition of the Property; (c) Seller has not received any written notices that the Property or the business conducted thereon violate any applicable laws, regulations, codes and ordinances; (d) Seller has all certificates of occupancy, permits, and other governmental consents necessary to own and operate the Property for its current use; (e) There is no pending or threatened litigation which would adversely affect the Property or Buyer's ownership thereof after closing; (f) There is no pending or threatened condemnation or similar proceedings affecting the Property, and the Property is not within the boundaries of any planned or authorized local improvement district; (g) Seller has paid (except to the extent prorated at closing) all local, state and federal taxes (other than real and personal property taxes and assessments described in Section 8 above) attributable to the period prior to closing which, if not paid, could constitute a lien on Property (including any personal property), or for which Buyer may be held liable after closing; (h) Seller is not aware of any concealed material defects in the Property except as disclosed to Buyer in writing during the Feasibility Period; (i) There are no Hazardous Substances (as defined below) currently located in, on, or under the Property in a manner or quantity that presently violates any Environmental Law (as defined below); there are no underground storage tanks located on the Property; and there is no pending or threatened investigation or remedial action by any governmental agency regarding the release of Hazardous Substances or the violation of Environmental Law at the Property. As used herein, the term "Hazardous Substances" shall mean any substance or material now or hereafter defined or regulated as a hazardous substance, hazardous waste toxic substance, pollutant, or contaminant under any federal, state, or local law, regulation, or ordinance governing any substance that could cause actual or suspected Date Date GVA Kidder Mathews 1201 Pacific Avenue, Suite 1400 Tacoma, WA Phone: (253) 383 -5693 Fax: (253) 572 -2648 Seller Date e Copyright 1999 2005 Commercial Brokers Association At Rights Reserved CBA Form PS_1A Purchase Sale Agreement Rev 7/07 Page 5 of 13 Seller Date G GSA Kidder Mathews Worldwide Rea; Estate Soiuth09s GVA Kidder Mathews 1201 Pacific Avenue, Suite 1400 Tacoma, WA Phone: (253) 383 -5693 Fax: (253) 572 -2648 INITIALS: Buyer Date Buyer COMMERCIAL INVESTMENT REAL ESTATE PURCHASE SALE AGREEMENT (CONTINUED) TS /cr/lega1/5800 South 152 St PS_ 1A 1008 harm to human health or the environment "Environmental Law The term "Hazardous Substances" specifically includes, but is not limited to, petroleum, petroleum by- products, and asbestos. If prior to closing Seller or Buyer discovers any information which would cause any of the representations above to be false if the same were deemed made as of the date of such discovery, then the party discovering the same shall promptly notify the other party in writing. If the newly- discovered information will result in costs or liability to Buyer in excess of the lesser of $100,000 or five percent (5 of the purchase price, or will materially adversely affect Buyer's intended use of the Property, then Buyer shall have the right to terminate the Agreement and receive a refund of its earnest money provided Buyer elects to do so within five (5) days of discovering or receiving written notice of the new information. Nothing in this paragraph shall prevent Buyer from pursuing its remedies against Seller if Seller had actual knowledge of the newly- discovered information such that a representation provided for above was false. 13. AS -IS. Except for those representations and warranties specifically included in this Agreement: (i) Seller makes no representations or warranties regarding the Property; (ii) Seller hereby disclaims, and Buyer hereby waives, any and all representations or warranties of any kind, express or implied, concerning the Property or any portion thereof, as to its condition, value, compliance with laws, status of permits or approvals, existence or absence of hazardous material on site, occupancy rate or any other matter of similar or dissimilar nature relating in any way to the Property, including the warranties of fitness of a particular purpose, tenantability, habitability and use; (iii) Buyer otherwise takes the Property "AS IS;" and (iv) Buyer represents and warrants to Seller that Buyer has sufficient experience and expertise such that it is reasonable for Buyer to rely on its own pre closing inspections and investigations. 14. PERSONAL PROPERTY. a. This sale includes all right, title and interest of Seller to the following tangible personal property: None That portion of the personal property located on and used in connection with the Property, which Seller will itemize in an Addendum to be attached to this Agreement within ten (10) days of Mutual Acceptance (None, if not completed). The value assigned to the personal property shall be (if not completed, the County assessed value if available, and if not available, the fair market value determined by an appraiser selected by the Listing Agent and Selling Licensee). Seller warrants title to, but not the condition of, the personal property and shall convey it by bill of sale b. In addition to the leases and Vendor Contracts assumed by Buyer pursuant to Section 5(a) above, this sale includes all right, title and interest of Seller to the following intangible property now or hereafter existing with respect to the Property including without limitation: all rights -of -way, rights of ingress or egress or other interests in, on, or to, any land, highway, street, road, or avenue, open or proposed, in, on, or across, in front of, abutting or adjoining the Property; all rights to utilities serving the Property; all drawings, plans, specifications and other architectural or engineering work product; all governmental permits, certificates, licenses, authorizations and approvals; all rights, claims, causes of action, and warranties under contracts with contractors, engineers, architects, consultants or other parties associated with the Property; all utility, security and other deposits and reserve accounts made as security for the fulfillment of any of Seller's obligations; any name of or telephone numbers for the Property and related trademarks, service marks or trade dress; and guaranties, warranties or other assurances of performance received. 15. CONDEMNATION AND CASUALTY. Seller bears all risk of loss until closing, and thereafter Buyer shall bear the risk of loss. Buyer may terminate this Agreement and obtain a refund of the earnest money if improvements on the Property are destroyed or materially damaged by casualty before closing, or if condemnation proceedings are commenced against all or a portion of the Property before closing. Damage will be considered material if the cost of repair exceeds the lesser of $100,000 or five percent (5 of the purchase price stated in this Agreement. Alternatively, Buyer may elect to proceed with closing in which case at closing Seller shall assign to Buyer all Date Seller Seller Date 5 Copyright 1999 2005 Commercial Brokers Association All Rights Reserved Date CBA Form PS_1A Purchase Sale Agreement Rev, 7/07 Page 6 0113 G GVA Kidder Mathews represented INITIALS. Buyer Buyer Worldwide Real Estate Solutions claims and right to proceeds under any property insurance policy and shall credit to Buyer at closing the amount of any deductible provided for in the policy. 16. FIRPTA TAX WITHHOLDING AT CLOSING. Closing Agent is instructed to prepare a certification (CBA or NWMLS Form 22E, or equivalent) that Seller is not a "foreign person" within the meaning of the Foreign Investment in Real Property Tax Act. Seller agrees to sign this certification. If Seller is a foreign person, and this transaction is not otherwise exempt from FIRPTA, Closing Agent is instructed to withhold and pay the required amount to the Internal Revenue Service. 17. CONVEYANCE. Title shall be conveyed by a Statutory Warranty Deed subject only to the Permitted Exceptions. If this Agreement is for conveyance of Seller's vendee's interest in a Real Estate Contract, the Statutory Warranty Deed shall include a contract vendee's assignment sufficient to convey after acquired title. At closing, Seller and Buyer shall execute and deliver to Closing Agent CBA Form No. PS -AS Assignment and Assumption Agreement transferring all leases and Vendor Contracts assumed by Buyer pursuant to Section 5(a) and all intangible property transferred pursuant to Section 14(b). 18. NOTICES AND COMPUTATION OF TIME. Unless otherwise specified, any notice required or permitted in, or related to, this Agreement (including revocations of offers and counteroffers) must be in writing. Notices to Seller must be signed by at least one Buyer and must be delivered to Seller and Listing Agent with a courtesy copy to any other party identified as a recipient of notices in Section 28 of this Agreement. A notice to Seller shall be deemed delivered only when received by Seller, Listing Agent, or the licensed office of Listing Agent. Notices to Buyer must be signed by at least one Seller and must be delivered to Buyer with a copy to Selling Licensee with a courtesy copy to any other party identified as a recipient of notices in Section 28 of this Agreement. A notice to Buyer shall be deemed delivered only when received by Buyer, Selling Licensee, or the licensed office of Selling Licensee Selling Licensee and Listing Agent have no responsibility to advise of receipt of a notice beyond either phoning the represented party or causing a copy of the notice to be delivered to the party's address provided in this Agreement. Buyer and Seller must keep Selling Licensee and Listing Agent advised of their whereabouts to receive prompt notification of receipt of a notice. If any party is not represented by a licensee, then notices must be delivered to and shall be effective when received by that party. Unless otherwise specified in this Agreement, any period of time in this Agreement shall mean Pacific Time and shall begin the day after the event starting the period and shall expire at 5:00 p.m. of the last calendar day of the specified period of time, unless the last day is a Saturday, Sunday or legal holiday as defined in RCW 1.16.050, in which case the specified period of time shall expire on the next day that is not a Saturday, Sunday or legal holiday. Any specified period of five (5) days or less shall not include Saturdays, Sundays or legal holidays. Notwithstanding the foregoing, references to specific dates or times or number of hours shall mean those dates, times or number of hours. 19. AGENCY DISCLOSURE. At the signing of this Agreement, Selling Licensee represented and the Listing Agent Ted Sipila. CCIM and Evan Parker of GVA Kidder Mathews COMMERCIAL INVESTMENT REAL ESTATE PURCHASE SALE AGREEMENT (CONTINUED) TS /crfegal/5800 South 152'' S1 PS 1A 1008 If Selling Licensee and Listing Agent are different salespersons affiliated with the same Broker, then Seller and Buyer confirm their consent to Broker acting as a dual agent. If Selling Licensee and Listing Agent are the same person representing both parties, then Seller and Buyer confirm their consent to that person and his /her Broker acting as dual agents. If Selling Licensee, Listing Agent, or their Broker are dual agents, then Seller and Buyer Date Date GVA Kidder Mathews 1201 Pacific Avenue, Suite 1400 Tacoma, WA Phone: (253) 383 -5693 Fax: (253) 572 -2648 Setter Date Seller Date Copyright 1999 2005 Commercial Brokers Association All Rights Reserved CBA Form PS_1A Purchase Sale Agreement Rev 7/07 Pace 7 of 13 G GVA Kidder Mathews INITIALS: Buyer 4m;ldwide Real Estate Solutions Buyer Date GVA Kidder Mathews 1201 Pacific Avenue, Suite 1400 Tacoma, WA Phone (253) 383 -5693 Fax: (253) 572 -2648 COMMERCIAL INVESTMENT REAL ESTATE PURCHASE SALE AGREEMENT (CONTINUED) TS /crlegab5800 South 150" St PS 1A 1008 Seller Date Date Seller Date Copyright 1999 2005 Commercial Brokers Association All Rights Reserved CBA Form PS_1 A Purchase Sale Agreement Rev. 7/07 Page 8 of 13 consent to Selling Licensee, Listing Agent and their Broker being compensated based on a percentage of the purchase price or as otherwise disclosed on an attached addendum. Buyer and Seller confirm prior receipt of the pamphlet entitled The Law of Real Estate Agency." 20. ASSIGNMENT. Buyer may may not (may not, if not completed) assign this Agreement, or Buyer's rights hereunder, without Seller's prior written consent, unless provided otherwise herein. If the may not" option is selected and the words "and/or assigns" or similar words are used to identify the Buyer, then this Agreement may be assigned with notice to Seller but without Seller's consent only to an entity which is controlled by or under common control with the Buyer identified in this Agreement. Any other assignment requires Seller's consent. The party identified as the initial Buyer shall remain responsible for those obligations of Buyer stated in this Agreement notwithstanding any assignment and, if this Agreement provides for Seller to finance a portion of the purchase price, then the party identified as the initial Buyer shall guarantee payment of the Seller financing. 21. DEFAULT AND ATTORNEY'S FEE. a. Buyer's default. In the event Buyer fails, without legal excuse, to complete the purchase of the Property, then (check one): Seller may terminate this Agreement and keep the earnest money as liquidated damages as the sole and exclusive remedy available to Seller for such failure; or Seller may, at its option, (a) terminate this Agreement and keep as liquidated damages the earnest money as the sole and exclusive remedy available to Seller for such failure, (b) bring suit against Buyer for Seller's actual damages, (c) bring suit to specifically enforce this Agreement and recover any incidental damages, or (d) pursue any other rights or remedies available at law or equity. b. Seller's default. In the event Seller fails, without legal excuse, to complete the sale of the Property, then (check one): As Buyer's sole remedy, Buyer may either (a) terminate this Agreement and recover all earnest money or fees made by Buyer whether or not the same are identified as refundable or applicable to the purchase price; or (b) bring suit to specifically enforce this Agreement and recover incidental damages provided Buyer must file suit within sixty (60) days of the scheduled date of closing or any earlier date Seller has informed Buyer in writing that Seller will not proceed with closing; or Buyer may, at its option, (a) bring suit against Seller for Buyer's actual damages, (b) bring suit to specifically enforce this Agreement and recover any incidental damages, or (c) pursue any other rights or remedies available at law or equity. Neither Buyer nor Seller may recover consequential damages such as lost profits. If Buyer or Seller institutes suit against the other concerning this Agreement, the prevailing party is entitled to reasonable attorneys' fees and expenses. In the event of trial, the amount of the attorney's fee shall be fixed by the court. The venue of any suit shall be the county in which the Property is located, and this Agreement shall be governed by the laws of the state where the Property is located. 22. MISCELLANEOUS PROVISIONS. a. Complete Agreement. The Agreement and any addenda and exhibits to it state the entire understanding of Buyer and Seller regarding the sale of the Property. There are no verbal or other written agreements which modify or affect the Agreement. b. Counterpart Signatures. The Agreement may be signed in counterpart, each signed counterpart shall be deemed an original, and all counterparts together shall constitute one and the same agreement. c. Electronic Delivery. Electronic delivery of documents (e.g., transmission by facsimile or email) including signed offers or counteroffers and notices shall be legally sufficient to bind the party the same as delivery of an GVA Kidder Mathews Wo,Ithriale Real Estate Solutions INITIALS: Buyer Date GVA Kidder Mathews 1201 Pacific Avenue, Suite 1400 Tacoma, WA Phone: (253) 383 -5693 Fax: (253) 572 -2648 COMMERCIAL INVESTMENT REAL ESTATE PURCHASE SALE AGREEMENT (CONTINUED) TS/crlegal/5800 South 152'' St PS 1A 1008 Seller Date Buyer Date Seller Date Copyright 1999 2005 Commercial Brokers Association An Rights Reserved CBA Form PS_1A Purchase Sale Agreement Rev. 7/07 Page 9 of 13 original. At the request of either party, or the Closing Agent, the parties will replace electronically delivered offers or counteroffers with original documents. d. Section 1031 Like -Kind Exchange. If either Buyer or Seller intends for this transaction to be a part of a Section 1031 like -kind exchange, then the other party agrees to cooperate in the completion of the like -kind exchange so long as the cooperating party incurs no additional liability in doing so, and so long as any expenses (including attorneys fees and costs) incurred by the cooperating party that are related only to the exchange are paid or reimbursed to the cooperating party at or prior to closing. Notwithstanding Section 20 above, any party completing a Section 1031 like -kind exchange may assign this Agreement to its qualified intermediary or any entity set up for the purposes of completing a reverse exchange. 23. ACCEPTANCE; COUNTEROFFERS. Seller has until midnight of October 13, 2008 (if not filled in, the third business day following the last Buyer signature date below) to accept this offer, unless sooner withdrawn. If this offer is not timely accepted, it shall lapse and the earnest money shall be refunded to Buyer. If either party makes a future counteroffer, the other party shall have until 5:00 p.m. on the business day (if not filled in, the second business day) following its receipt to accept the counteroffer, unless sooner withdrawn. If the counteroffer is not timely accepted or countered, this Agreement shall lapse and the earnest money shall be refunded to the Buyer. No acceptance, offer or counteroffer from the Buyer is effective until a signed copy is received by the Seller, the Listing Agent or the licensed office of the Listing Agent. No acceptance, offer or counteroffer from the Seller is effective until a signed copy is received by the Buyer, the Selling Licensee or the licensed office of the Selling Licensee. "Mutual Acceptance" shall occur when the last counteroffer is signed by the offeree, and the fully- signed counteroffer has been received by the offeror, his or her licensee, or the licensed office of the licensee. If any party is not represented by a licensee, then notices must be delivered to and shall be effective when received by that party. 24. INFORMATION TRANSFER. In the event this Agreement is terminated, Buyer agrees to deliver to Seller within ten (10) days of Seller's written request copies of all materials received from Seller and any non privileged plans, studies, reports, inspections, appraisals, surveys, drawings, permits, application or other development work product relating to the Property in Buyer's possession or control as of the date this Agreement is terminated. 25. CONFIDENTIALITY. Until and unless closing has been consummated, Buyer and Seller shall follow reasonable measures to prevent unnecessary disclosure of information obtained in connection with the negotiation and performance of this Agreement. Neither party shall use or knowingly permit the use of any such information in any manner detrimental to the other party. GVA Kidder Mathews Worldwide Rea! Estate Solutions INITIALS Buyer Date Buyer Date GVA Kidder Mathews 1201 Pacific Avenue, Suite 1400 Tacoma, WA Phone: (253) 383 -5693 Fax: (253) 572 -2648 COMMERCIAL INVESTMENT REAL ESTATE PURCHASE SALE AGREEMENT (CONTINUED) TS /crlega1/5800 South 152' St PS_ 1A 1008 Seller Date Seller Date Copyright 1999 2005 Commercial Brokers Association All Rights Reserved CBA Form PS 1A Purchase Sale Agreement Rev 7/07 Page 10 of 13 26. SELLER'S ACCEPTANCE AND BROKERAGE AGREEMENT. Seller agrees to sell the Property on the terms and conditions herein, and further agrees to pay a commission in a total amount computed in accordance with the listing or commission agreement. If there is no written listing or commission agreement, Seller agrees to pay a commission of 6% of the sales price or The commission shall be apportioned between Listing Agent and Selling Licensee as specified in the listing or any co- brokerage agreement. If there is no listing or written co- brokerage agreement, then Listing Agent shall pay to Selling Licensee a commission of of the sales price or Seller assigns to Listing Agent and Selling Licensee a portion of the sales proceeds equal to the commission. If the earnest money is retained as liquidated damages, any costs advanced or committed by Listing Agent or Selling Licensee for Buyer or Seller shall be reimbursed or paid therefrom, and the balance shall be paid one -half to Seller and one -half to Listing Agent and Selling Licensee according to the listing agreement and any co- brokerage agreement. In any action by Listing Agent or Selling Licensee to enforce this Section, the prevailing party is entitled to reasonable attorneys' fees and expenses. Neither Listing Agent nor Selling Licensee are receiving compensation from more than one party to this transaction unless disclosed on an attached addendum, in which case Buyer and Seller consent to such compensation. The Property described in attached Exhibit A, is commercial real estate. Notwithstanding Section 25 above, the pages containing this Section, the parties' signatures and an attachment describing the Property may be recorded. 27. LISTING AGENT AND SELLING LICENSEE DISCLOSURE. EXCEPT AS OTHERWISE DISCLOSED IN WRITING TO BUYER OR SELLER, THE SELLING LICENSEE, LISTING AGENT, AND BROKERS HAVE NOT MADE ANY REPRESENTATIONS OR WARRANTIES OR CONDUCTED ANY INDEPENDENT INVESTIGATION CONCERNING THE LEGAL EFFECT OF THIS AGREEMENT, BUYER'S OR SELLER'S FINANCIAL STRENGTH, BOOKS, RECORDS, REPORTS, STUDIES, OR OPERATING STATEMENTS, OR OTHER MATTERS RELATING TO THE PROPERTY, INCLUDING WITHOUT LIMITATION, THE PROPERTY'S ZONING, BOUNDARIES, AREA, COMPLIANCE WITH APPLICABLE LAWS (INCLUDING LAWS REGARDING ACCESSIBILITY FOR DISABLED PERSONS), OR HAZARDOUS OR TOXIC MATERIALS INCLUDING MOLD OR OTHER ALLERGENS. SELLER AND BUYER ARE EACH ADVISED TO ENGAGE QUALIFIED EXPERTS TO ASSIST WITH THESE DUE DILIGENCE AND FEASIBILITY MATTERS, AND ARE FURTHER ADVISED TO SEEK INDEPENDENT LEGAL AND TAX ADVICE RELATED TO THIS AGREEMENT GVA Kidder Mathews Worldwide Real Estate Solutions GVA Kidder Mathews 1201 Pacific Avenue, Suite 1400 Tacoma, WA Phone: (253) 383 -5693 Fax: (253) 572 -2648 COMMERCIAL INVESTMENT REAL ESTATE PURCHASE SALE AGREEMENT (CONTINUED) TS /crnegal/5800 South 152' St PS t A 1008 28. IDENTIFICATION OF THE PARTIES. The following is the contact information for the parties involved in this Agreement: Buyer Seller Contact: Bruce Fletcher Contact: Address: Address: Business Phone: 206.767.2343 Business Phone: Mobile Phone: Mobile Phone: Fax: Fax: Email: Email: Selling Licensee Listing Agent Copyright 1989 2005 Commercial Brokers Association All Rights Reserved CBA Form PS to Purchase Sale Agreement Rev. 7/07 Page 11 of 13 Name: Name: Ted Sioila, CCIM and Evan Parker Address: Address: 1201 Pacific Avenue. Suite 1400 Business Phone: Business Phone: 253.722.1422 or 360.705.0174 Mobile Phone: Mobile Phone: Email: Email: tsioila@avakm.com or eoarker@avakm Fax: Fax: 253.722.1409 MLS Office No.: MLS Office No.: Courtesy Copy of Notices to Buyer to: Courtesy Copy of Notices to Seller to: Name: Name: Address: Address: Business Phone: Business Phone: Fax: Fax: Mobile Phone: Mobile Phone: Email: Email: INITIALS Buyer Date Seiler Date Buyer Date Seller_ Date w-,:riawle.f. R0,1 E zte s,itsllara Buyer Signature and title Signature and title GVA Kidder Mathews 1201 Pacific Avenue, Suite 1400 Tacoma, WA Phone: (253) 383 -5693 Fax: (253) 572 -2648 COMMERCIAL INVESTMENT REAL ESTATE PURCHASE SALE AGREEMENT (CONTINUED) TS/criegat/5800 South 152' St PS_IA 1008 IN WITNESS WHEREOF, the parties have signed this Agreement intending to be bound. INITIALS: Buyer Date Seller Date Seller O Copyright 1999 2005 Commercial Brokers Association All Rights Reserved CBA Form PS_1A Purchase Sale Agreement Rev. 7/07 Page 12 of 13 Buyer Citv of Tukwila Buyer Printed name and type of entity Printed name and type of entity Buyer Buyer Date signed Date signed Seller Boys and Girls Clubs of Thurston County Seller Printed name and type of entity Seller Seller Date signed Date signed Signature and title Printed name and type of entity Signature and title Date Date GVA Kidder Mathews Worldwide Real Estate Solutions INITIALS' Buyer Date GVA Kidder Mathews 1201 Pacific Avenue, Suite 1400 Tacoma, WA Phone: (253) 383 -5693 Fax: (253) 572 -2648 COMMERCIAL INVESTMENT REAL ESTATE PURCHASE SALE AGREEMENT (CONTINUED) TS /crfiega1/5800 South 152' St PS 1A 1008 EXHIBIT A [Legal Description] Buyer Date Seller Seller_ Date Copyright 1999 2005 Commercial Brokers Association All Rights Reserved CBA Form PS_1A Purchase Sale Agreement Rev. 7/07 Page 13 of 13 Date GVA. Kidder Mathews INITIALS: Buyer Buyer Worldwide Real Estate Solutions AGENT (COMPANY):__ By: Date Date GVA Kidder Mathews 1201 Pacific Avenue, Suite 1400 Tacoma, WA Phone: (253) 383 -5693 Fax: (253) 572 -2648 ADDENDUM /AMENDMENT TO PURCHASE AND SALE AGREEMENT CBA Text Disclaimer. Text deleted by licensee indicated by strike. New text inserted by licensee indicated by small capital letters. TS /cr/1ga1 /5800 SouLh 152 St PSA 1008 ALL OTHER TERMS AND CONDITIONS of said Agreement remain unchanged. Seller Seller O Copyright 1999 2095 Commercial Brokers Association All Rights Reserved CBA Form PSA NWMLS Form No. 34 Addendum/Amendment to P S Rev 12/99 Page 1 of 1 The following is part of the Purchase and Sale Agreement dated October 7. 2008, Between Boys and Girls Clubs of Thurston County "Seller") And City of Tukwila "Buyer regarding the sale of the Property known as: 5800 South 152 Street. Tukwila, WA IT IS AGREED BETWEEN THE SELLER AND BUYER AS FOLLOWS: 1. This sale is subiect to City of Tukwila Council approval within thirty (30) days of mutual acceptance. Date Date 034( Parcel Number Building Id Parcel Tvpe Owner/Taxpayer CoOwner Site Address Afail Address Telephone Taxable Land Taxable Structure Taxable Total Appraised Land Appraised Structure Appraised Total Recording Date 12/28/2007 auditors Fee 1146 Sale Price Deed Tvpe Warranty Owned 100 Census 11fap Grid Neighborhood Cd Zoning Code Land Use Legal Sub %Plat Recording Muni Short Plat Building Nance L olume Jurisdiction METROSCAN PROPERTY PROFILE= King (WA) OWNERSHIP INFORMATION 1 115720 0387 08 O NW Platted Boys /Girls Clubs Of Thurston Co 5800 S 152nd St Tukwila 3003 Sunset Way SE Tumwater Wa 98501 Owner $304,000 $34,000 $304,000 $304,000 SALES AND LOAN INFORMATION 1 1 ASSESSMENT AND TAX INFORMATION PROPERTY DESCRIPTION Improved 2008 Taxes Exempt Code Excise Tax Leiry Code Tract: Block: 655 F3 070030 :MDR 301 Vacant,Multi- family LOT 38 BROOKVALE GARDEN TRS LOT 4 LESS ST OF TUKWILA SHORT PLAT N 83 -17 SS RECORDING NO 8312210348 Brookvale Garden Trs :8312210348 8317ss Vacant Land 10 Page 47 TUKWILA S 23 T 23N R 04E Loan Amount Lender Loan Tvpe Interest Rate I esting Type Corporation Information compiled from various sources. Real Estate Solutions stakes no representations or warranties as to the accuracy or completeness ofinforrnation contained in this report. $3.580 66 :2326741 2380 Profile -Page 1 of E4 �iD INFORALI TION METROSCAN PROPERTY PROFILE= King (WA) Parcel Y 115720 0357 Bldg Id :4 I PROPERTY CHARACTERISTICS Bedrooms 1st Floor SF Year Built Bath Full 2nd Floor SF Efj Year Bath 3-4 3+ Floor SqFt GarageTlpe Bath 1 Half Floor SF Bsrnn 1 Type Fireplace AboveGroundSF B.rntntGrade Deck Finished SqFt Bldg Matt Porch Fin Bsmnt SF Bldg Cond Stories UnfinBsntnt SF Bldg Grade Units BsinntTotal SF %Brick/Slone: Elevator Bsmnt Park SF HeatSource Mobile Home' No Building SqFt Heat Type Nuisance Deck SqFt Sewer Type Public Easements AttachedGrgSF WW`tr Source Water District Design Type V7EW INFORM4 TION STREET INFORA24 TIDN Lot Acres 1.74 View Yes St Surface ,Lot SqFt 76,002 View Seattle Skyline St A ccess Public Lot Shape Restricted View Lake;River Tdeitlpind View Lake Sammamish TopoProbs Yes View Mountain l tr Front View Puget Sound Sprinkler View 11.It. Rainier TVtrFrntSF View Olympics GroundCvr View Cascades Average Ga f -tdj No View Territorial Average View Lake Washington View Other COMMERCIAL BUILDING SECTION FEATURES USE-DESCRIPTION STORIES STORY HT GROSS SO PT NET SO FT Information compiled front various sources. Real Estate Solutions makes no representations or warranties as to the accuracy or completeness of information contained in this report. Profile -Page 2 of 2 When recorded return to: BOYS AND GIRLS CLUB OF THURSTON ATTN: JOSEPH INGOGLIA 3003 SUNSET WAY SE TUMWATER, WA 98501 Escrow No.:M3022 See Exhibit A attached hereto and made a part hereof. Dated 20TH day of D ember, 2007, ,,L GRAYDON SMITH MARLYS M. S%1 H STATE Or WASHINGTON COUNTY OF THURSTON Dated: Dec KARI E. HAVES NOTARY PUBLIC STATE OF WASHINGTON C060,11SSEON EXPIRES J111 29, 2011 Vision Form SDDOI WA Rev. 2/8/2006 ss IA PACIFIC NU TIT U0 41.00 FAGE001 OF 002 KING COUNTY, UA 20 E2326741 12/28/2007 12:00 KI COUNTY, UA SALE 5$0.00 Statutory Warranty Deed LQ Q13215 ®/4 PAGE001 OF 001 THE GRANTOR GRAYDON SMITH and MARLYS M. SMITH. husband and wife for and in consideration of GIFT, conveys and warrants to BOYS AND GIRLS CLUBS OF THURSTON COUNTY, a Washington nonprofit corporation the following described real estate, situated in the County of RING, State of Washington SUBJECT TO covenants, conditions, restrictions, reservations, easements and agreements of record, if any Tax Parcel Number(s): 115720- 0387 -08 Abbreviated Legal: Poi Tract 38, Brookvale Garden Tracts Ptn 23 -23-4E I certify that I know or have satisfactory evidence that GRAYDON SMITH and MARLYS M. SMITH are the persons who appeared before me, and said persons acknowledged that they signed this instrument and acknowledged it to be their free and voluntary act for the uses and purposes mentioned in this instrument. l iu6d E. HAYES Notary Public in and forcle State of Washington Residing at TENINO My appointment expires: June 29, 2011 I.PB -10 -05 (i Page 1 of 2 20071228001146.001 Exhibit A Tract 38, Brookvale Garden Tracts, according to the plat thereof recorded in Volume 10 of Plats, page 47, in King County, Washington; Except the west 40355 feet thereof; AND That portion of Section 23, Township 23 North, Range 4 East, W.M., in King County, Washington, described as follows_ Beginning at the southeast corner of Tract 38; Thence east to the west Iine of Interurban Addition to Seattle, according to the plat thereof recorded in Volume 10 of Plats, page 55, in King County, Washington; Thence northerly along said west line to the easterly projection of the north line of Tract 38; Thence west to the northeast corner of said Tract 38; Thence south along the east line of said Tract 38 to the point of beginning; TOGETHER WITH that portion of vacated South 152nd Street which, upon vacation, attached to said premises by operation of law; EXCEPT that portion thereof deeded to the city of Tukwila under Recording Numbers 7512100369 and 8603240746; (ALSO KNOWN AS Lot 4, City of Tukwila Short Plat Number 83 -17 -SS recorded under King County Recording Number 8312210348. (BEING KNOWN AS Lot 2 of City of Tukwila Boundary Line Adjustment Number 86- 21 -BLA filed under King County Recording Number 8606030348). L:v0 ri 4[buu1 1 46.002 5800 SOUTH 152ND STREET AERIAL PHOTO MAP Open Space Acquisition property the hrs Reserved. The information be apr contained her�ei in cent se krJ Digital Map products. Copyright r supplied All Rig not be appr�ed except contributor supplied under license and may Community Affairs Parks Committee Minutes October 27. 2008 Paae 2 C. Acauisition of Open Space at 5800 South 152n Street Staff is seeking full Council approval of a purchase and sale agreement in the amount of $150,000 for 1.74 acres of land located at 5800 South 152n Street (adjoins Tukwila Elementary School property). Staff was originally contacted by a real estate professional to evaluate the City's interest in purchasing the property. The property's sale price is $799,000, and the assessed value is $304,000. Bruce Fletcher communicated to the agent that the City would not be able to afford the sale price or assessed values for the property. After some discussion, the agent agreed to sell the land to the City for $150,000, which is the amount of available funding in the current Capital Improvement Program for parks and trails. Acquisition of this open space is justified through the current Parks and Recreation Open Space Plan which identifies a deficit in open space by the year 2022. UNANIMOUS APPROVAL. FORWARD TO NOVEMBER 10 COW FOR DISCUSSION. D. Levels of Service Standards for Parks. Recreation Open Space Plan As per the Council minutes of the October 20, 2008, this item is returning to the Community Affairs and Parks Committee for review of the Parks and Recreation capital facilities project list related to future growth. This list will be included in an ordinance which amends the Parks Recreation Open Space Plan to establish levels -of- service standards and identify capital facilities needed to maintain those levels -of- service. Staff briefly explained how the estimated project costs were derived for each project, and how those .costs were based on a square acre costing approximately $800,000 for land acquisition. Staff will put the best practice formula utilized for the estimated calculation in writing. When looking at this list of capital facilities related to maintaining levels -of- service, it is important to remember several things: These projects would be built as a response to increased growth/population. Projects must be listed in the Plan if they are to be built as a result of impact fees or will be built over the next six years. The list includes projects totaling over $48 million. The projects are not anticipated to be built at one time. The projects cover a 20 -25 year period based on future growth. The list will be narrowed down by the time information needs to be incorporated into the CIP and/or such a time the impact fees are considered. The Open Space Plan, including levels -of- service and capital facilities list, is a planning document, not a directive or mandate for the beginning or completion of these projects. Most of the projects have resulted from recommendations contained in the completed Parks and Recreation Open Space Plan (adopted by Council on June 23, 2008). After discussion, the Committee was in favor of sending the ordinance back to a COW for further discussion. UNANIMOUS APPROVAL. FORWARD TO NOVEMBER 10 COW FOR DISCUSSION. M. MISCELLANEOUS Meeting adjourned at 6:12 p.m. Next meeting: Monday, November 10, 2008 5:00 p.m. Conference Room #3 Committee Chair Approval M utes by KAM. Reviewed by BF and LV.