HomeMy WebLinkAbout1980 - Real Estate Contract - Jamison Jack - 8007250464SAFECO
real estate contract
THIS CONTRACT, made and entered into this 22nd day of
between JACK R. JAMISON, as his separate estate
hereinafter called the "seller," and BROOKVALE GARDEN ASSOCIATES, a Washington limited partnership
hereinafter coiled the "purchaser,"
WITNESSETH: That the seller agrees to sell to the purchaser and the purchaser agrees to purchase from the seller the
following described real estate, with the appurtenances, in KIN County, State of Washington:
Shown in Exhibit A attached hereto and by this reference made a part hereof.
NO /100 DOLLARS ($75,000.00)
All payments to be made hereunder shall be mode at
or of such other place as the seller may direct in writing.
TL -116 R3 1/76
KING C075.17-4'.."‘„
EXCISE TAX PAID
JUL251980
1 O5D:)826
TWELVE THOUSAND AND NO /100 DOLLARS ($12,000.00)
July, 1980
SEMI- ANNUAL PAYMENTS OF $5,000.00, or more at purchaser's option, with the first
payment due on the 22nd day of January, 1981. Purchaser further agrees to pay
,interest on the diminishing balance of said purchase price at the rate of 11.000
r per cent per annum from the 22nd day of July, 1980, which interest shall be
deducted from each installment payment and the balance of each payment applied in
0 reduction of principal.
CV Notwithstanding the aforementioned payment terms of this contract, the Purchaser
0 agrees to pay in full, the entire remaining principal balance, together with any
Q accrued interest owing seller, within 36 months from date of closing.
3,4. 5//e7 - /
flirt? r CO RrecIRD AT
341 fITI C INSURANCE' tom T OF
�ln AVCNUE. SEA171E, WA 98) ? I
The terms and conditions of this contract are as follows: The purchase price is SEVENTY FIVE THOUSAND AND
(, 75,000.0 Dollars, of which
12,000.00
(5 ) Dollars have
been paid, the receipt whereof is hereby acknowledged, and the balance of said purchase price shall he paid as follows:
} ORPEI) I
1u� 25 II it
b T is i. .► tJ:
RECflRD; & ELECTIO IS
KING C OUN
As referred to in this contract, "date of closing" shall be July 22, 1980
(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 terms of this contract the purchaser has assumed pay-
ment of any mortgage, deed of trust, 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 company accept-
able 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 agree-
ment relied on is contained herein or is in writing and attached to and made a port of this contract.
(4) The purchaser assumes all hozords of damage to or destruction of any improvements now on said real estate or here-
after 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 taken for public use,
the portion of the condemnation award remaining after payment of reasonable expenses of procuring the same shall be paid to
the seller and applied as payment on the purchase price herein unless the seller elects to allow the purchaser to apply all or
a portion of such condemnation award to the rebuilding or restoration of any improvements damaged by such taking. In case of
damage or destruction from a peril insured against, the proceeds of such insurance remaining after payment of the reasonable
expense of procuring the same shall be devoted to the restoration or rebuilding of such improvements within a reasonable
time, unless purchaser elects that said proceeds shall be paid to the seller for application on the purchase price herein.
(5) The seller has delivered, or agrees to deliver within 15 days of the date of closing, a purchaser's policy of title insurance in standard
form, or a commitment therefor, issued by SAP ECO Title Insurance Company, 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 said policy form;
b. Liens or encumbrances which by the terms of this contract the purchaser is to assume, or as to which the conveyance
hereunder is to be made subject; and
c. Any existing contract or contracts under which seller is purchasing said real estate, and any mortgage or other obliga-
tion, which seller by this contract agrees to pay, none of which for the purpose of this paragraph (5) shall be deemed
defects in seller's title.
(6) If seller's title to said real( ite is subject to an existing contract or contr under which seller is purchasing said
real - estate, or any mortgage, deer? of trust or other obligation which seller is to pa, 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 re-
move 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 statutory warranty fulfillment deed 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:
Easement under recording No. 7412170397.
Agreement under recording No. 5709309.
Right of way for laying water pipes through said premises.
(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 improvements 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 pay 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 en-
titled to possession.
(9) In case the purchaser fails to make any payment herein provided 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
rote of 10% 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 hove 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 or perform
any condition or agreement hereof or to make any payment required hereunder promptly at 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
mode by the purchaser hereunder and all improvements placed upon the real estate shall be forfeited to the seller as liqui-
dated damages, and the seller shall hove 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
lost known to the seller.
(11) Upon seller's election to bring suit to enforce 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 on adjudication of the termination of the purchaser's rights hereunder, and judg-
ment is so entered, the purchaser agrees to pay a reasonable sum as attorney's fees and all costs and expenses in connection
with such suit, and also the reasonable cost of searching records 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 WHEREOF, the parties hereto have executed this instrument as of the date first written above.
�f L•
X� / � :t�yz BROOKVALE GARDEN ASSOCIATES
Jack R.
Jam son
f ;.
STATE OF WASHINGTON,
ss.
County of � l
On this day per natty appeared before me f2l L
to me known to be the individual described in a d who executed the within and foregoing instrument, and acknowl ,c4W8' ?Hdb.,,
/L¢_ signed the same as h-x-•� free and voluntary.cc� , .,'
• G I ,
for the uses and purposes therein mentioned. / 7)9J
GIVEN under my hand and official seal this ''� � "� day of �
WHEN RECORDED, RETURN TO
Filed for Record at Request of
NAMF
ADDRESS
CITY AND STATE
S7 9
6,4f ,.„‘,,,,,_
X) I G (� �, f77 a t+•
Gv1
Notary, d' of
residing
(SEAL)
(SEAL)
(SEAL)
(SEAL)
iu and for h dtat o/ Washing on •
• r
THIS SPACE RESERVED FOR RECORDER'S USE
SAFECO SAFECO TITLE INSURANCE COMPANY
Exhibit A PAGE 1
Tract 9 of Brookvale Garden tracts, according to plat recorded in Volume 10 of
Plats, page 47, in King County, Washington, EXCEPT the following:
Beginning at a point on the North line of said Tract 9, 330 feet West of the
Northeast corner thereof;
thence East 330 feet to the Northeast corner of said tract;
thence South along the East line of said tract to the Southeast corner thereof;
thence along the South line of said tract, a distance of 170 feet to a point on a
curve whose radius bears South 89'59'24" West;
thence Northerly and Westerly along the arc of said curve to the left with a radius
of 382.47 feet to a point 50 feet South of the North line of said Tract and 300
feet West of the East line;
thence Northwesterly in a straight line to the point of beginning;
EXCEPT the South 30 feet thereof conveyed to the City of Seattle for pipeline by
t7' deed recorded under Auditor's File No. 3641174;
EXCEPT the South 30 feet thereof lying Easterly of a line drawn Northerly at right
angles to the South line of said Tract 9 from a point on said South line which is
200 feet Westerly of the "W" line survey of Primary State Highway No.'1, South
178th Street to South 126th Street;
aD ALSO EXCEPT that portion of the remainder lying Southwesterly of a line drawn
parallel with and 20 feet Northeasterly from the D2 centerline of Primary State
Highway No. 1, South 178th Street to South 126th Street.
SUBJECT TO:
Easement under recording number 7412170397.
Agreement under recording number 5709309.
Right of way for laying water pipes through said premises.
is