HomeMy WebLinkAbout1978 - Real Estate Contract - Van Woerden Robert / Southcenter Investors - 7802080653
Rlad fa !Word at Request of
(lam Mnurlcan Tllie Company of Bet,
12506 N.E. Bsllovug•Redmond RtftE
Bellevue, WA 98005 K
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L ESTATE CONTRACT
THIS CONTRACT, made and entered into this 1St day of February, 1978,
between ROBERT D. "VAN WOERDEN and SYLVIA VAN WOERDEN, his wife,
FEB Q fL I42 •
RECORDED KC REC(1RLl•;
hereinafter calle the "s eller," and SOUTHCENTER INVESTORS, a Joint Venture organized under the
laws of the State of Washington,
hereinafter railed 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 King
See Legal Description hereto attached.
See Rider "A" hereto attached for additional provisions hereof.
County, State of Washington:
KING N
COUTY
EXCISE TAX PAID
FEB 8 1978
E45S6e44
The terms and conditions of this contract are as follows: The purchase price is Five Hundred Ninety - Three Thousand,
Nine Hundred Ninety -Two and 00 /100 ($ 593,992.00 ) Dollars, of which One
Hundred Thirty -Six Thousand, Six Hundred Twenty - Eight and 20/100($136,628.20) Dollars have
been paid, the receipt whereof is hereby acknowledged, and the balance of said purchase price shall be paid as follows: See
Rider "A" hereto attached. -(4 }
,\ -or int re-at -pa rehaier3 d r
-option-; -clay-o4- ey , 14- .1
`U 3rnt 4$ dellais<
• orTrore- at- purehaserreptror�-m -nr- before -+he flay- of- eaah-- saceeedir ►p- eakndar- naenlh- Aust41- the•- bele ace - o1-said
- purchase -prier zhaH- ravrbeerrf+r}k- paid- fhe ,. pay- iMerest-on- tfrrelmrinishirx -balance- of-saiel-pemhaxpriee
-at- tlre-ratr.nf- per- cent -pr rammen -from the •day -erf- , 1 - - - r
--evh4c4t -interest -shall.- km- eletiti eted- .fra as -ea eh-- ity,talirmont- ft ftytneat- and- 4.be-baktase-ef--eaah- fay-meat- applied- in- fed uogon- - pristoipaf,
NS All payments to be made hereunder shall be made at Seattl�- k'irst Nat' 1 Bank,
or at such other place as the seller may direct in writing.
As referred to in this contract, "date of dosing" shall be February 1, 1978
(except that Purchaser shall pay as due all storm drainage assessments on said real estate
(1) The purchaser assumes and agrees to pay a ore delinquency all taxes and assessments 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 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- new -eed• 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 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 played
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 restora-
tion 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 First American 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 dosing 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 obligation, 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 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.
M (7) The seller -agrees,- apee-receiviesfull- payment -e the- •purchase - price -ardi- interest in Abe- manneFObove -speei5edr4e- elee tte -end
(o deliver- to. pisschasss- a- .atatutery- svas+aaty 4aed -to said- real.estata -any- Part- thasmat- atiaF
takewdar- puhlic -ua, Sus. at-easwntNaaees4xcapt.aays.ihaLarmy-attach -attar-data- of-closing -through -aay. -parson-44w -thaa-tha-aelloc sod
saki ect 4e-4ha -following:
(:)
See Legal Description and Rider "A" hereto attached.
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(8) Unless a different date is provided for herein, the purchaser shall be entitled to possession of said real estate on date of dosing
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 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 entitled 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 rate 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 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 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 made by the purchaser
hereunder and all improvements placed upon the real estate shall be forfeited to the seller as liquidated damages, and the seller shall
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 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 an adjudication of the termination of the purchaser's rights hereunder, and judgment 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 WITNESS WHEREOF, the parties hereto have executed this instrument as of the date first written above.
STATE OF WASHINGTON,
County of KING
On this day personally appeared before me ROBERT D. and SYLVIA VAN WOERDEN, husband and wife,
to me known to be the individuals described in and who executed the within and foregoing instrument, and acknowledged that
they signed the same as their free and voluntary act and deed, for the uses and purposes
Address
}
SS.
Filed for Record at Request of
/r/
First American Title
INSURANCE COMPANY
Name FIRST AMERICAN ' 1 Y OF BELLEV
12505 N.E. Bellevue- Redmond Road
City and State Bellevue, Washington 98005
#2364
SaUTH R I
D. VAN W O ' a (SEAL)
fig ;�
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a Joint Venture
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(SEAL)
By: .... vS ,y
Mo iha, o s ates tTiathe has
autho'ty to sign for said Joint Venture
day of • fr��
residing at 13elleM1 e .........._ „_.._
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..- , 1978. •
Notar/Jublic in and for the State of Washington,'
THIS SPACE RESERVED FOR RECORDER'S USE
LEGAL DESCRIPTION
TO
REAL ESTATE CONTRACT
Seller: Robert D. and Sylvia Van Woerden'
Purchaser: Southcenter Investors
Dated: February 1, 1978
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Cb LEGAL
N DESCRIPTIOtN: .
Co i PARCEL A
That portion of Government Lot 1, Section 25, Township 23 North, Range 4
East U.tl., in King County, Washington, described as follows:
Beginning at the Northwest corner of said Government Lot;
thence South 89 °47'00" East along the North line thereof 110.30 feet
to the true point of beginning;
thence South 0 °14'00" East 970.00 feet;
thence South 89 °47'00" East 369 feet, more or less, to the Easterly
line of said Government Lot;
thence Northerly and Westerly along the Easterly and Northerly
line of said Government Lot to the true point of beginning; .
EXCEPT that portion thereof deeded to the City of Seattle by deed
recorded under Recording No. 4106155, records of said County;
AND EXCEPT roads;
(BEING KNOWN AS Tracts 9, 10, 11, 12, 13, 30, 31 and 32, METROPOLITAN
ADDITION according to the unrecorded plat thereof;
EXCEPT that portion thereof deeded to the City of Seattle;
AND EXCEPT roads).
PARCEL B
A portion of the Southwest quarter of the Southwest quarter of Section 24,
Township 23 North, Range 4 East tl.t4., in King County, Washington
AND
That portion of the W. H. Gillians Donation Land Claim which lies Easterly
of County Road tlo. 1479, Southerly of Highway Station No. 83 -50 of the
proposed right of way for Primary State Highway No. 1, Green River Inter-
change as shown in Volume 2 of Highway Plats, page 193, records of King
County, Washington, and lying Southerly and Westerly of .the present left
bank of Green River;
EXCEPT the Westerly 10 feet abutting the James Christensen Road, which
has been deeded to the City of Tukwila for a public street.
Situate in the Town of Tukwila, County of King, State . of Washington.
NOTE: See attached copy �f Blue Line Print of Meriwether - Leachman
Associates, dated 1/12/73 - Drawing No. 2115 for approximate
outline of Parcel #1 and Parcel #2.
Legal Description -1-
Legal Description (Cont'd)
SUBJECT TO:
1. General taxes for the year 1978, in the amount of $8,518.37,
which amount cannot be paid until February 15, 1978.
Tax Account No.: 252304- 9039 -06
M (Affects Parcel A)
O 2. General taxes for the year 1978, in the amount of $207.76,
00 which amount cannot be paid until February 15, 1978.
Tax Account No.: 000320 - 0022 -07
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C\1 (Affects Parcel B)
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00 3. EASEMENT AND COPNDITIONS CONTAINED THEREIN:
Grantor: Robert D. Van Woerden and Sylvia D. Van Woerden
Grantee: King County, a legal subdivision of the State of Washington
Location: Along the Left Bank of Green River
Purpose: The right to enter upon the above described land to construct,
reconstruct, maintain and repair a bank protection and /or other
flood control . works, including all appurtenances thereto, together
with right to trim, cut, fell and remove all such trees, brush and
other natural growth and obstructions as are necessary to provide
adequate clearance and to eliminate interference with, or hazards
to the structures.
Dated: July 28, 1976
Recorded: August 4, 1976
Recording No.: 7608040557
4. Any question that may arise due to the shifting and changing in the
course of Green River.
5. Right in the general public to the unrestricted use of all the waters of
a navigable body of water not only for the primary purpose of navigation,
but also for corollary purposes; including (but not limited to) fishing,
boating, bathing, swimming, water skiing and other related recreational
purposes, as those waters may affect the tidelands, shorelands, or adjoin-
ing uplands and whether the level of the water has been raised naturally
or artificially to a maintained or fluctuating level, all'as further
defined by the decisional law of this state. (Affects all of the premises
subject to such submergence.)
6. Right of the State of Washington in and to that portion of Parcel B,
if any, lying in the old bed of the Green River.
7. PRELIMINARY ESTIMATED ASSESSMENT:
City of: Tukwila
Estimated Amount: $4,420.00
Improvement: Storm Drain
Local Improvement District No.: 27
Filing Date: January 20, 1975
The lien of said assessment, as between Grantor and Grantee,
or seller and purchaser, attaches thirty days after said
filing date.
(Affects Parcel A)
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Legal Description (Cont'd)
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8. PRELIMINARY ESTIMATED ASSESSMENT:
M City of: Tukwila
Ltd Estimated Amount: $357.00
�. Improvement: Storm Drain
CD Local Improvement District No.: 27
pp Filing Date: January 20, 1975
C7 The lien of said assessment, as between Grantor and Grantee,
N or seller and purchaser, attaches thirty days after said
filing date.
(Affects Parcel B)
- End of Legal -
Rider A
RIDER A
TO
REAL ESTATE CONTRACT
01
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Q Seller: Robert D. and Sylvia Van Woerden
00 Purchaser: Southcenter Investors
O Dated: February 1, 1978
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1. The real estate being purchased under the terms of this
Real Estate Contract is more particularly described on
the Legal Description, hereto attached; and the parties
agree that the same is to be treated as if divided into
two (2) parcels, namely Parcel 1 (the so- called "North
Half "), more particularly described as follows:
The real estate described on said Legal
Description North of a line being the Easter-
ly extension of the centerline of Baker
Boulevard, as shown on Exhibit "B" hereto
attached; and
Parcel 2 (the so- called "South Half "), more particularly
described as follows:
The real estate described on said Legal
Description located South of a line being
the Easterly extension of the centerline of
Baker Boulevard, as shown on Exhibit "B"
hereto attached.
2. Two (2 separate payment schedules shall be kept regarding
the payment of said $593,992.00 purchase price relating to
the purchase of said Parcels 1 and 2 as follows:
Parcel 1
Explanation Amount
Purchase Price $356,596.00
Down Payment (25 %) 89,149.00
Balance $267,447.00
Said balance shall be paid in twenty (20) equal semi- annual
payments or more, plus interest at the rate of 8 -1/2 per
cent per annum, computed on diminishing principal balances.
Said semi - annual payments shall each be in the amount of
$13,372.35 or more, commencing on August 1, 1978 and next
on February 1, 1979, and thereafter on the 1st day of each
August and February until the entire sum of principal and
interest is paid in full. Interest shall commence on
February 1, 1978.
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Rider A (Cont'd)
• Parcel 2
Explanation Amount
Purchase Price $237,396.00
Down Payment.(20 %) 47,479.20
Balance $189,916.80
The balance of said purchase price in the amount of
$189,916.80 shall be paid in forty (40) semi- annual pay-
ments or more, plus interest at the rate of 8 -1/2 per cent
per annum, computed on diminishing principal balances,
such semi - annual payments to be in the amount of $4,747.92
or more, commencing on August 1, 1978 and next on February 1,
1979, and thereafter on the 1st day of each August and
February until the entire sum of principal and interest is
paid in full. Interest shall commence on February 1, 1978.
3. The Seller agrees that upon full payment of the purchase
price and interest, in the manner herein provided, for either
parcel, to execute and deliver to the Purchaser a Statutory
Warranty Deed to said parcel, except any part thereof here-
after taken for public use, free of encumbrances except any
that may attach after the date of closing through any person
other than the Seller and subject to those matters more par-
ticularly described on the Legal Description hereto attached.
4. Notwithstanding other provisions herein to the contrary,
said semi - annual payments may not be accelerated to the ex-
tent that the Seller receives more than 29 per cent of the
aggregate purchase price of both parcels in the year 1978;
for the Seller wishes to take advantage of the installment
sale reporting of this transaction under the United States
Internal Revenue Code.
If the Purchaser elects to pay the semi - annual payments
faster than the specific dollar basic semi - annual payments
above provided, it must pay the same to a commercial bank
selected by the Seller, to be managed by the bank under a
irrevocable escrow, which provides that the bank distribute
to the Seller annually, on January 15th of each year after
the escrow is established, accumulated principal and inter-
est, so that the Seller does not receive in the aggregate
from the bank or the Purchaser more than 29 per cent of the
said aggregate purchase price in any calendar year. The
Purchaser may prepay this Contract in whole or in part at
any time without penalty, provided that any such prepayment
is made to said commercial bank as hereinabove provided.
5. An irrevocable escrow has been established with the Seattle -
First National Bank, with whom has been deposited the
Statutory Warranty Deeds in fulfillment of this Contract,
with irrevocable escrow instructions providing for the de-
livery of each as in this Contract provided. The Seller and
Purchaser have arranged with said bank to limit distributions
to the Seller so that Seller may take advantage of said in-
stallment sale reporting for tax purposes, as herein provided.
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Rider A (Cont'd)
6. The Seller will join with the Purchaser in signing neces-
sary documents so that Purchaser can proceed with proces-
sing of a short plat regarding the real estate here pur-
chased, but any expenses thereto relating shall be paid
by the Purchaser together with the expenses of Seller's
attorney reviewing any of such documents, which services
will be billed at said attorney's usual hourly rate; and
M the Purchaser agrees to save the Seller harmless from any
to damage caused by the Purchaser's nonpayment of any obliga-
(} tions or for any liabilities of the Purchaser regarding
C} work done under this numbered paragraph.
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C? 7. No representations are made nor responsibilities assumed
04 by the Seller as to the present or future condition of any
G? said real estate. The Purchaser states that the property
OD is intended to be developed for commercial buildings, in-
r' cluding clinics.
Any notice or demand under this Contract shall be by
register or certified mail to the parties as follows:
To the Seller:
Mr. & Mrs. Robert D. Van Woerden
27625 - 10th S
Redondo, WA 98054
To the Purchaser:
Southcenter Investors
c/o Morris.Piha Company, Inc.
612 Hoge Building
Seattle, WA 98104
8. All escrow fees charged on the escrows herein mentioned
shall be shared 50/50 between the Seller and the Purchaser.
9. The Purchaser has been informed of the month -to -month
tenants now occupying a portion of said real estate, and
the Purchaser will manage said tenancies subsequent to
said date of closing.
10. The Purchaser need not insure the buildings now located on
the property.
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Exhibit •"B"-
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. • DISCLOSURE FORM
King County Ordinance No. 1490 requires the following disclosure or alternative waiver Corm be - completed prior to entry into n binding
agreement to purchase. Three copies of each disclosure or alternative waiver must be prepared. One copy shall be retained by the
prospective vendor; one copy shall be retained by the prospective purchaser. If the prospective purchaser enters into n binding agree-
ment to purchase, the vendor shall file the third copy with the King County Department of Records and Elections when other documents
are recorded.
A violation by any vendor or vendor's agent of any provision of Ordinance No. 1490 may result in assessment of a civil penalty in an
amount not to exceed $ 250.00 for each violation.
If there is no reasonable access to a public sanitary sewer system from the parcel you are thinking of buying, you must install a private
sewer system approved by the King County Department of Health in order to build 'a house or any structure which will be used for
human habitation. No building permits are issued for parcels which cannot have access to approved public or approved private sewer
systems. No permit will be issued for and no septic tank systems may be located on this parcel unless it. has been subjected to a per-,
colation teat within one year prior to application for a building permit. Even if a timely percolation test has been made, no permit will
be issued and no septic tank system may be located on this parcel if the Department of Health has not approved the plan for and
approved the installation of the private sewer system. Before you enter into an agreement to purchase this parcel, you should contact
the King County Department of Health to determine the procedures for installing a private sewer system.
Your seller may have had a percolation test made on the parcel by a registered civil or sanitary engineer or certified sewage dispos-
al system designer. if so, that fact and the conclusions of the test appear below.
SELLER'S REPRESENTATIONS
PERCOLATION TEST. Seller must complete either Statement A or Statement B as appropriate.
A. My agent (Name of Agent) • a registered
civil or sanitary engineer or certified sewage disposal system designer, has conducted percolation tests on this parcel:
(Legal Description)
The percolation test was conducted on (Date) From the tests,
my agent concluded that a septic tank system could could not be installed on this parcel in conformance with stand-
ards set by King County and in effect at the date of the test.
1 represent that the statements above are true.
Seller's Signature Date
B. No percolation tests have been conducted on this parcel: (Legal Description)
As set forth in "Exhibit - Legal Description to Real Estate
Contract" attached hereto and by this reference made a part
hereof.
I have no knowledge or information from which a determination can be made as to whethcr?a septic tank system may be installed on
this parcel, except do follows: (To be completed by seller.) 4s
I represent that the statements above are true.
Seller's Signature
I have read this statement and understand its contents.
Prospective Purchaser's Signature
Or
NOTICE TO PURCHASER
BUYER'S SIGNATURE
Date
Date
WAIVER (IN THE ALTERNATIVE)
I have read this disclosure form and understand its contents. I waive •endor's disclos
jJ Unconditionally
El Upon the condition this sale will not be closed unless this p
requirements of the King County Department of Health.
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SOUTHCENTER INVESTORS a Joint Venture
Prospective Purchaser's Signature
to a percolation test which meets the
Feb. 6 1978
CS 13.15.45