Loading...
HomeMy WebLinkAbout1978 - Real Estate Contract - Catron John Ray / Catron Rae Anne - 7810230597Suitt A.1v84 7810230597 REAL ESTATE CONTRACT (• •f Tr'f1S CONTRACT, made and enterd Iato tbb 9th tur of October. 197 R between J. RAY CATRON WHO also appears of record as John Ray C:ftron an undivided 3/4 interest as his separate estate and RAE ANNECATRON, as her separate estate, as to the remainder hereinafter called the"saw," and EDWIN J. 3ECKER, a single person 1'— 0% hereinafter called the "p on lover," t7 WITNESSETH: That the mike agrees to seU to the purchaser and the purchaser aims to purchase from the seller the following to . r\t described real estate, with the appurtenances, is King County. State of Wuhington: as attached: cc, r- .+ That portion of Essico Addition to Riverton, • according to the plat recorded in volume 33 of plats, page 49, in King County, Washington, described as follows: Beginning at the intersection of the south line of lot 9 of said Essico Addition to Riverton with a line that is parallel with and distant Westerly 24 feet, measured at right angles, from the east line of said lot 9; thence Northerly along said prolongation, 250 feet to the North line of lot 21 of said Essico Addition to Riverton; Thence Easterly along said North line and its Easterly prolongation 266.31 feet to the Easterly line of the Essico Addition thence Southerly along said Easterly line 230 feet to the center line of Riverton Place (vacated) as shown on said Essico Addition to Riverton; thence Westerly along said centerline, 140 feet, more or less to the Northerly prolongation of the West line of lot 11 of said Essico Addition to Riverton; thence Southerly along said Northerly prolongation to the South line of Lot 10 of said Essico Addition to Riverton; thence Westerly along said Sout'r. line 124 feet to the point of beginning; Except portion thereof deeded to King County by need recorded Imeer At2d_tcr'c Fi.c ?:;, 7111230145: and Lxcept the Nortr. 10 feet thereof conveyed to King County by Deed recorded on July 24, 1978 under Auditor's File No. 7807240892. Kai t'U EXCISE 14 PAID OCT 231978 8 502426 The terms std conditions of this too are as follows: The purchase price is S FVENTY FIGHT THOUSAND FIVE HUNDRED AND NO /100 ($ 78, 500.00 ) Dollars, of which EIGHTEEN THOUSAND AND NO /l00 is 18, 0On.nn ) Dollars have been paid, the receipt whereof la hereby acknowledged, and the balance of said purchase price shall be paid u follows: FIVE HU$UREll EIGHTY SIX AND 9 3/100 a 586.93 1 Dollars, I... or more at purchaser's option, on or before the 3 n th day of NGYSTher , to78 , CD and FIVE HUNDRED EIGHTY SIX AND 93/100 (g 586.93 1 Dollars, O or more at purchaser's option, on or before the 2 et 11 day of rash succeeding uknd month until the balance of said CO purchase price shall bay' been fully paid. The purchaser further agrees to pay interest on the diminishing balance of said purchase price N at the rate of 8.25 per cent per annum from the =J .. . day of Ot Lniser ,TA O which interest shall be deducted from each installa.ent, p»ayment and tp • r balance of each payment applied in reduction of principal.. All payments to be made hereunder shall be made u HOL C sr. a Y 111 g >; L Loan ban. or at such other place u the mike may direct in writing. N. It is further understood and agreed that in the event the herein purchaser develops a portion of the subject property, that the seller will ;teed release that portion to the herein purchaser at that time. Purchaser further agrees that in consideration for the amount of square footage required for development purposes, the herein purchaser agrees to pace off in full that amount of square footage to be utilized and conveyed at the rate of $1.31 per square foot, and is further acknowledged that all monies paid at that time be applied toward the principal reduction of the herein Real Estate Contract. As referred to in the •ontract, "date of closing" shall be October 2 0 , 19 7 8 (1) The purchaser assumes and agrees to pay before delinquency all rases and assessments that may as b ;tween grantor and gr. vin brreaiter become a lien on said real estate; and if by the terms of this contract the purchaser has assumed payment of any mortgage, contract or other encumbrance, or has assumed payment of or agreed to purchase subject to. ant• tares or assessments now a hen on said real estate, the purchaser agrees to pay the same belure delinquency. (2) The purchaser agrees. until the purchase price b. fully paid, to trip the buildings now and hereafter placed on said real estate insured to the actual cash value thereof against toss or damage by both fire ana windstorm in a company acceptable to the seller and for the seller's benefit, as his interest may appear, and to pay all premiums therefor and to delayer all policies and renewah thereof to Os wllr• (S : The purchaser agrees the t full ins, action of said real estate has been made and that neither the spike nor his assigns shall be held to any covenant respecting the condition of any improvements thereon nor shall the purchaser or seller or the assigns of either he held to and aovrnanl or agrrrmrnt for alterations. improvements or repairs unless the covenant or agreement relied on is contained herein or is in writing and attached to and made a part of this contract cal The purchaser assumes all hoards of damage to or destruction of any improvements now on said real estate or hereafter placed thereon. and of the taking of sand real estate or any part thereof :or public Use; and agrees that no such damage. destruction or taking shall constitute a failure of consideration In case any part of said real estate is taken for puhlir use. the portion of the condemnation award remaining alter payment of reasonable expenses of procuring the same shall be paid to the teller and applied as payment on the purchase prim futon unless the seller elects t.• allow the purchaser to apply all or a ;. ortion of such condemnation award to the rebuilding or restore. tiro of anv improvements damarrt: by such taking. In taw of damage or destruction tram a nerd insured against, the premeds of such rnsuranrr r. marring alter payment of the reasonable expense of procuring the same shall b' devoted to the restoration or rebuilding of such imprnsemrnl. within a reasonable time. unless purchaser elects that said proceed steel be paid to the seller for application on the purchase pace herein. 1 e 1 The seller has delrsered. tar agrees to deliver within 15 days of the date tat dosing. a purchaser's polio tat title Insurance to standard loan. •a J commitment thetclnr. Issued by ('htt•ayn Title Insurance Comm, , inswing the ratz. later us the lull amount of said outdid.: pm." against loss or damatte by reason oI detect to settees title to said real estate as ut the date 01 closing and containing no esceptsuns uth:r than thin loW.w•tny' a !'pinned tcrcral euryliuns appearing to said policy form; 1. Liens or enc•imluanres which by the terms of this contract the purchaser is to amorist, or as to whkh the conveyance hereunder I.. made.ul,js's5. a.d c. Any 'listing contract or contracts under which setkr is purchasing said real estate, and any mortgage of other obligation, which seller by this contract agrees to pay, none of which for the purrs sal this aararraph pct .hen ti deMeQ erfcets u. seller's title .MN 1h STATE OF WASHINGTON, County of King 1 ten t ►u Gay personany appeareu before me they signed the same as their tis1i')iiE;ptioKd. i , •%, 1 GIVEN undereilr hand and official seal this • :0 i p. AAA Chicago Title MS�f Insurance Company Rtc.ED FOP RECORD AT rIEOUES7 tar WWI D PI TUn% 11) day of . reading a1 (b) 11 seller's title to said real estate is subject to an resting contract or contracts under which seller b pueehadn' said real estate. err any mortgage or other ..blitatron, which seller is to ss.v, mike siren to make such payments b. accordance with the terms thereof, and upon default, the purchaser shall has+ the nest b• make any payments necessary to orient the default. and any payments so nude shaU be applied to the payments nest falling due the seller under this contract. t7) The seller agrees, upon 'reeving Lull payment of the purchase pin and Interest in she manner above specified, to rucute and deliver to purchaser a statutory warranty _deed to said real estate, excepting any fart thereof hereafter taken for public use, free of encumbranres except any that may attach alter date of closing through any person other than the seller. and subject to the following: (8) Cnkso a different date is provided for Benin. the purchaser shalt be entllk % 10 pommies of said teal estate on date of closing and to retain possession s.' long as purchaser is not in default hereunder. Ilse purchaser covenants to keep the buildings and other improve. ments on said real estate in Rood repair and not to permit waste and not to use. or permit the use of. the real estate for any illegal purpose. The purchaser covenants to pay all service. instaElation or constructiors charges for water, sewer. eketrkity. prbage or other utility aen•sres furnished to said real estate alter the date purchaser is entitled to possession. (o) In case the purchaser :ails to cake any payment herein provided or to maintain insurance, as herein required, the sake' may make such payment or effect such insurance, and any amounts so paid by the seller. together with interest at the rate of 1O% per annum thereon from date of payment until repaid. shall be repayable by purchaser on seller's demand, all without prejudice to any other right the seller might have by reason of such default. 1101 Time Is of the essence of this contract, and it is agreed that in caw the purchaser shall fail to comply with or perform any condition or agreement hereof or to make any payment required hereunder promptly al the time and in the manner herein required. the seller may elect to declare all the purchaser's rights hereunder terminated. and upon his doing so, all payments made by the purchaser hereunder and all lmpeovement placed upon the real estate shall be forfeited to the seller as liquidated damages. and the antler shall have right to it-enter and like possession of the real estate; and no waiver by the alder of any default on the part of the purchaser shall be construed as a waiver of any subsequent default. Service upon purchaser of all demands. notices or other papers with respect to forfeiture and termination of purchaser's rights may be made by United Stales hlail, postage pre•paid. return receipt requested. directed to the purchuer at his address last known to the seller. (I 1) Upon seller's election to bring suit to enforce any covenant of this contract, including suit to collect any payment mil hereunder. the purchaser agrees to pay a rnsonabie sum u attorneys fen and all costs and eaperues in connection with such suit, which sums shall be included in any judgment or decree entered :n such suit. 11 the seller shall bring suit to procure an adjudication of the terminat of the purchaser's rights hereunder. and judgment is so entered, the purchaser agrees to pay • reasonabk sum as attomey'a fees and all costs and eapean In connection with such suit. and also the rrasonabk cost of searching •'cords to determine the condition of title at the date such suit is commenced, which sums shall be included in any judgment or decree entered in such suit. IN WITNESS WHEREOF, the panics hereto have executed this Instrument as of the date Ent written above / .a:.... .s.. �,...:a ✓• 1. .. ...g.• named "' • (sent) ., : .._ • ' �: _.. ... � _..... ............ (saws ) (her • 1 V ��i .,%a o yN ;n fl; An ne CatrOn to me known to be the individuals described in and who executed the within and foregoing instrument. and acknowledged that tree and voluntary act and dad. for the user and purposes October, 197R . i• • Notary Public iw ••4 for the 51.1. fit Wishing:ow, Seattle THIS WC( ►ROODID FOR RICORDiel USE.