HomeMy WebLinkAbout1976 - Real Estate Contract and Security Agreement - Smith Graydon / Smith Marlys / Badley Enterprises - 7610250308real estate contract and security agreement
7610250308
graydon smith marlys smith
badley enterprises
FORM A.1964
o 7(4(72-5k)b
REAL ESTATE CONTRACT CM-- /672.s-3. II. 7
THIS CONTRACT, made and entered Coto Ws 24th day of Septenbeur. 1976 TA)
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AND BECUStrZY AaREENENT
Ent7,10, GRAYDON E. SMITE and MAIILYS X. SMITH, his wife 176362 )
hereinafter called the "bailee nad
corporition. SAD= ENTERPRISES, INC.. a Washingtt2:6014Lil , • .
. . .
C't.114`.4 «kVA
herdnafter called the ..purchaser,"
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COMPTROLLER
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UTMESSETH: Tbat the seller urea to sell to the purchaier and the purchaser agrees to purchase from the seller
deserilwd real estate, with the appurtenants. In XING County, State of Washington:
Tract 36, Srooksral• Garden Tracts, according to the plat recorded in
Volume 10 of Plats, Page 47, in Xing County, Washington;
Together with that portion of the South Ralf of Section 23, Toumship
23 North, Range 4 East, W. 34. in Xing County, Washington, lying bet-
tween the Eget line of ;mid Erookvel• Garden Traota, and the it Line
of Interurban Addition to Seattle, according to the plat recorded in
Volume 10 of Plats, Page 55, in Xinq County, Washington, and between
the Easterly extension of the North aid South lite@ of said Tract 36;
EXCEPT that portion thereof . deeded to the State cf.Washington for
primary State Highway No. 1 by deed recorded under Auditoria File NO.
5516664. 'See below ***
The terms sad conditions of this contract an u (orlon: The purchase prier 1 On MnatiON T 111 0 =COM
THOUSAND AND s1,200,000.00) nautoawW6
TWO HUNDRED THOUSAND AND NO/100ths--------------.0 200,000.00 )nollanhvm
been paid, the receipt whereof 1. hereby acknowledged, and the balance of said purchase price AO he paid at follows: According
to SCHEDULE A and SCREDULE E attached hereto and by this reference
made a part hereof. Other terms and conditions of this Contract. ac-
cording to the ettaohed.ridertmerked "EXIII3X T.3' ich by this reference
is made a part hereof.- • •
.r.
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***TOGETHER MITE appliances, furniture, fixtures-and equipient accord-
ing to the attached inventory marked unXIMIT JV which by this re-
ference bitted. a part hereofe of that certain apartment more co-
manly known as the ..ramaLA APARTMSNTSI located at 5711 South
153rd, Tukwilla, Washington 98168 on the ebove described property.
AU payenenti to be made hereunder shall be made at
or at such other piece u the seller may direct Lo writing.
As referred to In this contratt, "date of c/oaing" shall be IN"Peartoir 1 1976
• ill The PUTCIIIMr mum(' end alma to Pay before delinquency all tares and ussuments that may at between grantor and rent.*
hereafter become a lien an said real Mate; 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 tales or 13.1tIlMaal■ 110W 1 lien on said
real estate, the purchaser amen to pay the same before delinquency.
(2) The purchaser alines, until the purchase price is fully paid, to keep the buildinn now and hereafter placed on said real estate
Insured to the amid nth value thereof against lou or damage by both fire and windstorm In s ompany acceptable to the seller and for
the Win', benefit, as his interest may appear, and to pay ail premiums therefor and to deliver all policies and renewals thereof to
the welter.
(3) The purchaser ernes 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 therec t nor shall the purchaser or seller or the assirns of either be held to
any covenant or agreement int alterations. Improvements or repairs unless the covenant or agreement relied on u contained herein or Is
In writing and attached to and made a part of this conned,.
(41 The purchaser assumes all huards of damage to or destruction of any improvements now on sald real estate or hereafter pieced
thereon, and of thr taking of said real eatate or any part thereof for public use: and agrees that no suth damate destruction or taking shall
constitute a failure of consideration. In case any part ol said real estate Is taken (or public use, the portion of the condemnation award
remaining sloe 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 Mlle, elects to allow the purchaser to apply all or a portion of such condemnation award to the rebuildinc or restora-
tion of any improvements garnered by such talanr. In cue of damarr or destruction from a peril insured against, the proceeds of such
Insurance remaining alter 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.
(3) The Miler has deIlerod, or scores to deliver within 15 days of the date of closing. a purchaser's policy 01 11(1, Insurance In
standard form, or a commitment therelor, tutted by Troosornorsco yid. lossmoote Conspooy, Insuring the purchaser to the till amount al
said purchase price agaltut low or damage by reason of detect In teller's title to am real esute as of the date of closinc and containing no
ticeptions other than the following:
a. Printed general etceptIons appearing in said policy form;
• b. Liens or encumbrances which by the terms of this contract the purchaser b to 13111133e, or as to which the conveyance hereunder
is to be made subject: and
c. My existing contract or contracts under which seller la purchuIng said real estate, and any nortnge or other obligation, which
seller by thus contract agrees to pay, none of which for the purpose of this paragraph (5) shall be deemed defects in seller's title.
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i Posms,No. W.I44.1
tPreesoos rem No. A•1964 todie. W/O)
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