HomeMy WebLinkAbout1980 - Real Estate Contract - Wines Kirk / Mahlman David / Mahlman Linda - 80111005868011100586
REAL ESTATE CONTRACT 1999
t'or Unimproved Properly
THIS CONTRACT, made this /.rLy day of 7%/1(itStYrgattaus. 1980
between
( J
kIRK WINES, as his separate estate and NATIONAL ASSOCIATION OF EVELOPMENT
CREDIT MANAGEMENT WESTERN WASHINGTON /ALASKA hereinafter called the "seller" and
david Mahlman and Linda Mahlman, his hereinafter called th jpurhye ortkfl
wife, as Nominees ' 4 G(/
V /ITNESSETH: The seller agrees to sell to the purchaser, and the purchaser agrees to purchue of the
seller the following describer• real estate with the appurtenances, situate in
Washktgton:
KING
M!It/'it
For Legal Description see attached ExhibitRtar. r
CAST I.'t.
FREE OF ENCUMBRANCES, except:
County,
H, :efoi :r, LI
(See attached Exhibit "A ") and
4,1-4.4,!5.c0
tt
1. An casement for ingress, egress and utilities be instrument
recorded June 2, 1966, under AFiI 6036500 which:'affects 25 feet in
width over the east 25 feet of Parcel D, except the South 60 feet
thereof;
2. An easement for carrying water acioss said tract from the
west to the east in favor of Riverton Water Co, recorded February 5,
1920 under Aril 1308557 which affects Parcel D and a water pipe along
tho north line of said Tract 61;
3. An assessment which affects Parcels C,D and E, in favor of
Val Vue Sewer District U D/WOr i w,)tich assessment shall remain the
sellers obligation.
THE PURCHASE PRICE IS: TWO HUNDRED FIFTY THOUSAND & no /oo ($250,000)
Dollars, of which TWENTY FIVE THOUSAND & no /oo ($25,000) have been paid,
the receipt of which is hereby acknowledged, and the balance of said
purchase price shall be paid as follows:
1. Twenty Five Thousand & no /oo ($25,000); dollars• ," inc• luding
interest payable six (6) months from the date of this contract.
Ftnm this payment the seller shall pay in full the assessmen. in
favor of Val Vue Sewer District ULID 9 and the commission in favor of
Triad Properties, Inc. and Poverty Day Real Estate, Inc,
2. Annual payments of •Thirty'Five Thousand Three Hundred
:Ninety Six•'& 83//100' ($35,396.83)including interest, with the first
annual payment due twelve (12) months from the date of this contract
with like annual payments due on the same day of each succeeding year
...•-thereafter; provided however, this real estate contract balance in
eluding interest shall be paid in full within five (5) years from the
date of this contract.
3. The purchaser further agrees to pay interest on the balance
of the purchase price and thy: diminishing amounts thereof at the rate
'—of Twelve (12) rercent per annum from the date of this contract, which
interest shall be deducted f, m each payment and the balance of each
inetallment:applied,in r ^duction of the principal. Purchaaer shall not
"' pay tnoro than 29% of purchase price during 1980 unless the entire price
is ItOalr411110Plillienlet into poisesslon on closing.
The property has been carefully inspected by the purchaser, and no agreements or representations per-
taining thereto, or to this transaction, have been made, uve such as are stated herein.
The purchaser agrees: to pay before delinquency all tames and assessments auumed by him, If any and
any which may, as between grantor and grantee, hereafter become a lien on the premises; not to permit waste;
and not to use the premises for any illegal purpose. If the purchaser shall fail to pay before delinquency any
such taxes or ageuments, the seller may pay them, and the amounts so paid shall be deemed put of the
porch:.: price and be payable forthwith with interest at the rate of ten per cent per annum until paid, without
prejudice to any other right of the seller by reason of such failure.
The purchaser assumes all risk of the taking of any pan of the property for a publk use and agrees that
any 'such taking shall not constitute a failure of consideration, but all moneys received by the seller by reason
thereof shall he applied as a payment on account of the purchase price, lei, any suns which the seller may be
required to expend in procuring such moneys.
If seller's title to said real estate Is suljnct to an existing contract or contracts under which seller
le purchasing raid real estate, or any mnrtanrn or other obligation, which seller is to pay, seller agrees to
make such payinonte In acs:ordence with th terms thereof, and upon default, the purchaser shall have
the right to make any payments neceasar• to remove tho default, and any payment.' so trade shall be
,.,:plied to ills payments next falling due • t teller under this contract,
The seller npmes, uplift full compile, by the purchaser with him tweet, . rttm heroin, to execute and
0
�1
deliver to the purchaser a warranty decd to the properly, excepting any part l il... , .1 \i 1. )
which may have been condemned, free of ineumbrances except those above mentioned, and any that may
scenic hereafter through any person 17( othQenr than the seller.
The seller agrees to furnish a PtX� kti iltiRiiiterinca Company standard form purchaser's title
policy when the purchaser Bali have paid
insuring the title to said property with liability the same as the above purchase ptire, free from incamhrancea
except any which are assumed by the purchacer or as to which the conveyance hereunder la nut to be subject.
Time Is of the essence hereof, and In the event the purchaser shall fall to comply with or perform any
condition or agreement hereof promptly at the time and in the manner herein required, the seller may elect to
declare all of the purchaser's rights hereunder terminated. Upon the termination of the purchaser's rights. all
payments made hereunder, and all improvements pialed upon the premises shall be forfeited to the seller as
liquidated damages, and :he seller shall have the right to reenter and take possession of the property; and if
the seller after such forfeiture shall commence an action to procure an adjudication of the termination of the
purchaser's rights hereunder, the purchaser agrees to pay the expense of searching the title for the purpose of
such action, together with all costs and a reasonable attorneys fee,
Service upon purchaser of all demands, notices or other Impure with respect to forfeiture and loins.
'nation of rurchnser's rights piny ho mndo by United Stairs hies, vosinge pre.t nid, return receipt re.
quested, directed to Illy purchaescr at his address last known to thu soltcr,
in Fighters Who're, the parties have signed and sealed this contract the day and year first above written.
David P. Mahim a��ndL nda J. Mahlman,
ff��
(Seal)
(Seal)
Fzilxlls.. k1..... niAtYTa1w ....'RbQj,K...i1kkA.i;t1}r.y— ern —i`aet (Seal)
KING COUNTY
;
EXCISE TAX PAID
NOV101980
151
(Seal)
IN WITNESS WHEREOF, said corporation has caused this instrument to be executed by its proper officers
this /qt/ day of $ r�'/' •• .s r , 1900. National Association• of Credit
"rirZ Management Western Washington /
Yirk i . Wines
� ...Alas ,.. .lcoryr_ posation
... �f i�tray...
By
ce Prriidenl.
/**"'
Aseisu'ant Sea l tt y.
STATE OP WASHINGTON,
County of KING !t ss•
On this 19th day of S0ptenber , 1980, before me, tihtu het reed,
a Notary Public in and for the Stale of Washington, duly commissioned and sworn, personally appeared , • %%%% %%e "i t ;• •
15ce iv Wilson and T. A. Tows / s` ,� \�,1t�. ;'��''.��.,;
to me known to be the ct ce resident snd Assistant Secretary, respectively, of /,,i t 4 ;,U ,.>l;•••-.∎ •;sue
Nati na ss C�d.� t {{o of d {{t lMI it} t`V r�■�gg+� - '
the cur wnliun t at�xav4c3't�ie Tore oing in�f�u�hecR, an'd� c��ev�ec �.flhQ R�tt�'i nei CTrYM •:� . t, ►i.') • tin :`n ,.
act ands deed of sale! corporation, for the uses and purposes therein mentioned, and on oath a t `ti iti'�.
authorized to execute the •aid instrument and that the seal affixed (if any) 1. the corpora .�. 1<' I `�' �, •u• ; yi
Witness my hand and official seal hereto affixed ale day and year first a�• itten. ,� + ;.��? ;; • 1
16 2 5 1999
COMMUNITY
DEVELOPMENT
STATE OF WASHINGTON,
County of KING
on ,till day personally appeared before me
to
•we known to be The Individual deecribed In
he
therein mentioned.
signed the um* as
01vrN under my hand and Octal seal this
l
Notary P
rriidhsg
is iu end for the Par o,
Seattle
Kirk R. Wines
and who executed the within and foregoing :netrument, and ac nowledaed that
his free and voluntary ad and deed, for the idea and purpowe
days &. 1980.
)
Nerarj tv61k In Al/e " J We e/ festAtattol,
eeeitfes
CO
EXHIBIT "A"
Real Estate Contract
Further Encumbrances:
. I
itL.;A....Ef'tiEu
• • MAR 2 5 1999
•• COMMUNITY
DEVELOPMENT
4. Right to make necessaey slopes for cute or fills upon
said premises as granted to King County under instrument
recorded under AF# 3505768.
• 5. Ordinance No. 1138 of the City of Tukwila, if applicable.
LEGAL DESCRIPTION
(A) THE SOUTH 60 FEET OF THE EAST 120 FEET OF TRACT 60, RIVERSIDE
INTERURBAN TRACTS, ACCORDING TO THE PLAT RECORDED IN VOLUME 10 OF PLATS.
PAGE 74. IN KING COUNTY, WASHINGTON.
(B) THE WEST 68.65 FEET OF THE EAST 188.65 FEET OF THE SOUTH 217.65 FEET
OF 'TRACT 60, RIVERSIDE INTERURBAN TRACTS. ACCORDING TO THE PLAT RECORDED
IN VOLUME 10 OF PLATS, PAGE 74, IN KING COUNTY, WASHINGTON, EXCEPT THE
WEST 8 FEET OF THE NORTH 40 FEET THEREOF.
(C) THE SOUTH HALF OF THE SOUTH HALF OF TRACT 59. RIVERSIDE INTERURBAN
1RACTS, ACCORDING TO THE PLAT RECORDED IN YOLUHE 10 OF PLATS. PAGE 74. IN .
KING COUNTY, WASHINGTON, EXCEPT THAT PORTION OF SAID PREMISES CONDEMNED TN
KING'COUNTY SUPERIOR COURT CAUSE NO. 614098.
(0) THAT PORTION OF TRACT 61, RIVERSIDE INTERURBAN TRACTS. ACCOR• OING TO
THE PLAT RECORDED IN VOLUME 10 OF PLATS, PAGE 74. IN KING COUNTY.
WASHINGTON. LYING EASTERLY OF THE EASTERLY LINE OF PRIMARY STATE HIGHWAY
N0. 11 EXCEPT THE EASTERLY 380 FEET OF THAT PORTION THEREOF LYING NORTH OF
THE NORTH LINE OF THE SOUTH 290.20 FEET OF SAID TRACT; AND EXCEPT THAT
PORTION THEREOF. LYING WITHIN THE SOUTH 290.20 FEET OF THE EAST 300.20 FEET
OF SAID TRACT 61; ALSO EXCEPT THAT ifORTION THEREOF LYING WITHIN THE WEST
75 FEET OF THE NORTH 50.00 FEET OF SAID TRACT 61.
(E) THE NORTH 00 FEET OF THE WEST 75 FEET OF TRACT 61. RIVERSIDE
.INTERURBAN TRACTS, ACCORDING TO THE PLAT RECORDED IN VOLUME 10 OF PLATS,
'PAGE 74, IN KING COUNTY. WASHINGTON, EXCEPT THE WEST 30 FEET THEREOF
CONVEYED TO KING COUNTY FOR ROAD BY GEED RECORDED UNDER AUDITOR'S FILE
NO. 1802502.
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