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Home My WebLink About1976 - Real Estate Contract - Agostino Joe / Best Way Motor Freight - 7612200315between 7612200315 THIS CONTRACT, made and entered into this 9th REAL ESTATE CONTRACT JOE AGOSTINO and MARTHA AGOSTINO, his wife described real estate, with the appurtenances, in KING day of December, 1976 hereinafter called the "seller," and 1313ST WAY MOTOR FREI(ll1'I', TNC., a Washington Corporation hereinafter called the "purchaser," . WITNESSETIT: That the seller agrees to sell to the purchaser and the purchaser agrees to purchase from the seller the following As referred to in this contract, "date of closing" shall be De c ember 17 , J.976 County, State of Washington: Lots 17 and 18, Block 18, HILLMAN'S SEATTLE GARDEN TRACTS, according to the plat recorded in Volume 11 of Plats, page 24, in King County, Washington. , Y The terms and conditions of this contract are as follows: The purchase price is ONE HUNDRED THIRTY THOUSAND AND N0 /100 - -•• • -($ 130,000.00 ) Dollars, of which THIRTY FIVE THOUSAND AND N0 /100 ($35,000.00 ) Dollars have been paid, the receipt whereof is hereby acknowledged, and the balance of said purchase price shall be paid as follows: ONE THOUSAND THREE HUNDRED FORTY TWO AND 99/100 ($ 1,342.99 ) Dollars, or more at purchaser's option, on or before the 5th day of January , 1 9 77 , and ONE . THOUSAND THREE HUNDRED FORTY TWO AND 99/100 -($ 1, 342.99 ) Dollars, or more at purchaser's option, on or before the 5th day of each succeeding calendar month until the balance of said purchase price shall have been fully paid. The purchaser further agrees to pay interest on the diminishing balance of said purchase price at the rate of 8 per cent per annum from the 17th day of December , 19 7 6 , which interest shall be deducted from each installment payment and the balance. of each payment .applied in r,edttcti,on of principal. All payments to be made hereunder shall be made at 9 5 9 108th N . L':. , Bellevue, WA 9 i 0 µ or at such other place as the seller may direct in writing. f acs- ..A)1,6 \ AFF. NO. E3.. E3.8 I. . r .t ' 1976 ...i..�... \By . \ KiNG ! :!'ii'Ty COMPTi (1) The purchaser assumes and agrees to pay before delinquency all taxes and assessments that may as between grantor and grantee hereafter become a lien on said real estate; and if by the terrns 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, any taxes or assessments now a lien on said real estate, the purchaser agrees to pay the same before delinquency. (2) The purchaser agrees, until the purchase price is fully paid, to keep the buildings now and hereafter placed on said real estate insured to the actual cash .value thereof against loss or damage by both fire and windstorm in a.cornpany acceptable to the seller and for the seller's benefit, as his interest may appear, and to pay all 'premiums therefor and to deliver all policies and renewals thereof to the seller, (3) The purchaser agrees that full inspection of said real estate has been made and that neither the seller 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 be held to any covenant or agreement 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. ' (4) The purchaser assumes all hazards of damage to or destruction of any improvements now on said real estate or hereafter placed thereon, and of the taking of said real estate or any part thereof for 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 tal.en for public use, the portion of the condemnation award remaining after (e.a of tea= enable espen':' of itloturfol: Ihr same shill he odd to the oilier alai applied as tatymm�l un 1he purrh:lse 11111' Ilell'tu tll lh•ct th s rU et ett'rts lit tallow the t'tt1Ylta'te`t' to Itltttll' till tit' 11 ttt'11i�n1 nl hlll'lt e'nlld, n ii;iI roll award to 1111' relnlit or rt ..,tura. litltl or oily l anitlnvnnn ' n l' t (l'U,,iIiil ht' '1n111 hilt li, In rtes' 111 iht or drr,lloalion front a peril loomed ugalnt ;t, the proeeetf• of sinh (uasUtetitse +v1114lnlull allei ltt•Uli'nt ul the mtaultnld'' elpentl! nl lino Inblg thy kat is shrill hl' devilled to 1)14' 5.;tul,ttluu ur rebuilding "I r,uch lInplot'enlehis wlllhin R reasonable lime, tmlisa pttriliaser elects that said piureeds shall he phial to the seller for application on the purchase price herein. (5) The seller has delivered, or agrees to deliver with,n 15 days of the date of closing, a purchaser'» i f Iicy of title irrurtor : in standard form, or a COlttlnitmellt therefor, issued by l't.,ni Nnut,r,,I lint l S; ,,N,1 1ti,est., , insuring; the purchaser to the full amount of said purchase price against loss or damage by reason of defect in seller's title to said real estate as of the date of closing and containing no exceptions other than the following: •-• - a. Printed general exceptions appearing in slid policy form; b. Liens or encumbrances which by the terms of this contract the purchaser is to amttine, or as to which the conveyance hereunder is to be made subject; and c. Any existing contract or contraetk under which 'cite, is purchasing said red estal':, and any mortgage or other obligation, which better by this contract agrees to tray, none of whit for the Ito pose of thi parattl,►ph (r) shall be deemed defects in teller's title • By (6) If sellers title to said real estate is subject to an existing contract or contracts under which seller is purchasing said real estate, or any mortgage or other obligation, which seller is to pay, seller agrees to make such payments in accordance with the terms thereof, and upon default, the purchaser shall have the right to make any payments necessary to remove the default, and any payments so made shall be applied to the payments next falling due the seller under this contract. (7) The seller agrees, upon receiving full payment of the purchase price and interest in the manner above specified, to execute and deliver to purchaser a statutorywarmer) fulfillment decd to said real estate, excepting any part thereof hereafter taken for public use, free of encumbrances except any that may attach after date of closing through any person other than the seller, and subject to the following: Any question that may arise due to shifting or change in the course of the Duwamish River or due to said river having changed its course; Any outstanding unrecorded leases. (8) Unless a different date Is provided for herein, the Purchaser shall be entitled to possession of said real estate on date of closing and to retain possession so long as purchaser is not in default. hereunder, The purchaser covenants to keep the buildings and other improve- ments on said real estate in good 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 fay all service, installation or construction charges for water, sewer, electricity, garbage or other utility services furnished to said real estate after the date purchaser is entitled to poi,' ession. (o) In case the purchaser fails to make any payment herein pinvldrd or to maintain insurance, as herein required, the seller may make such payment or effect such insurance, and any amounts so paid by the seller, together with interest at the rate of 10% per annum thereon 1.0 • from date of payment until repaid, shall be repayable by purchaser on seller', demand, all without prejudice to any other right the seller might have by reason of such default. (�) (10) Time is of the essence of this contract, and it is agreed that in case the purchaser shall fail to comply with 1,r perform any condition or agreement hereof or to make any payment required hereunder promptly at the time and in the manner herein required, the Q seller may elect to declare all the purchaser's rights hereunder terminated, and upon his doing so, all payments made by the purchaser CV hereunder and all improvements placed upon the real estate shall be forfeited to the seller as liquidated damages, and the seller shall N have right to re -enter and take possession of the real estate; and no waiver by the seller 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 States Mail, postage pre -paid, return receipt requested, directed to the purchaser at his address last known to the seller. (11) Upon seller's election to bring suit to enforre any covenant of this contract, including suit to collect any payment required hereunder, the purchaser agrees to pay a reasonable sum as attorney's fees and all costs and expenses in connection with such suit, which sums shall be included in any judgment or decree entered in such suit. If the seller shall bring suit to procure an adjudication of the termination of the_purchascr's rights hereunder, and judgment is so entered, the purchaser agrees to pay a reasonable sum as attorney's fees and all costs-tad expenses in connection with such suit, and also the reasonable cost of searching records to determine the condition of title aYthe,date such suit is commenced, which .sums • sh &late included in any judgment or decree entered In such suit. IN WITNESS WHEREOF, the parties hereto have executed thistrument,os.of the tp first above. BEST WAY MO IR FREIGHT, INC. STATE OF WASHINGTON, County of King On this day personally appeared before me JOE AGOSTINO & MARTHA AGOSTINO.. to me knoivn to'be the individuali3 described In and who executed the within and. foregoing instrument, and acknowledged that they . • . signed the same as their therein mentioned: • • GIVEN tttl *et- my iafad and official seal this 17 t h PNTI Escrow 171032..DF tt • • THIS SPACE RESERVED FOR RECORDIR•S USE. 1976 DPI.; 20 AM 1") EC1O) RECORDS & ELIE KING CCUN Y. PIONEER NATIONAL TITLE INSURAWCE ATICOR COMPANY Filod for Record at Request of AFTER RECORDING MAIL, TOs PIONEER NATIONAL TITLE INSURANCE CO. 719 Second Ave. Seattle, WA 98104 } Pit )P41VI; Vii,: , :,.. !it' !Hi NC; 4. :11OJ ,t).. .:...... VI /t - 1 7 1-01 DD if day of residing at OE AGC� - - ff HA AGOS free and voluntary .act and deed, for the use and purposes December, 1976 1 ^. Q \ Notary lic in and for the State of Washington, Bellevue 30 ,TIOt:S ASH. • •