HomeMy WebLinkAbout1991 - Subordination Agreement - Gaco Western / Bando McGlocklin Capital - 91081514099108151409
Southcenter Parkway / 57th Avenue South / Green River Levee
409 A
When recorded return to: REC D E 8. 00
Name: RECFEE 2. 00
Address: C AS€- SL
City,State,Gip:
XXI
SUBORDINATION AGREEMENT /0
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WHEREAS, the undersigned subordinator agrees as follows:
BANDO McGLOCKLIN CAPITAL CORPORATOIN, referred to herein as "SUBORDINATOR is the
Ln possessor of a deed of trust, dated June 21, 1989, which is recorded under Recording No.
Co 8906230002, records of King County.
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WHEREAS GACO WESTERN, INC., a Washington corporation, referred to herein as
OWNER is the owner of all the real property described in the deed of trust identified above
and in Exhibits A and B.
WHEREAS OWNER has granted to KING COUNTY, WASHINGTON, THE CITY OF
Q TUKWILA, WASHINGTON, and THE GREEN RIVER FLOOD CONTROL ZONE DISTRICT as tenants in
W common, their successors, assigns, licensees and permitees, a perpetual and assignable
right and easement for the purposes hereinafter stated, over and through, under, along and
Al across all or any part of that certain parcel of land situated in King County, State of
,o,,, Washington, described in Exhibits A and B:
Said right and easement are for the following purposes: The right
th to enter upon the above described land to construct, maintain,
z repair, operate, patrol and replace a flood protection levee,
including all appurtenances thereto; reserving however, to the
owners, their heirs and assigns, all such rights and privileges in
LA LA the land as may be used without interfering with or abridging the
rights and easement hereby acquired; subject, however, to
existing easements for public roads and highways, public utilities,
railroads and pipelines.
NOW THEREFORE, the SUBORDINATOR does hereby subordinate all priority rights
in the deed of trust, identified above, to the easement rights granted to KING COUNTY
WASHINGTON, THE CITY OF TUKWILA, WASHINGTON, and THE GREEN RIVER FLOOD CONTROL
ZONE DISTRICT as tenants in common, their successors, assigns, licensees and permitees, as
described in and for the purposes herein stated.
Dated Q`A,
BANDO M OCKLIN CA T CORPORATI�Q�
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SUBORDI�N OR George Schonath
(Title)
WISCONSIN \4 2
STATE OF 4 %%GW W" 0
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County of King Waukesha
On this 24th day of June 19 91 personally appeared before me
George Schonath to me known tome the Chairman of the Board of the
corporation that executed the within and foregoing instrument, and acknowleTed said
instrument to be the free and voluntary act and deed of said corporation for the uses and
purposes therein mentioned, and on oath stated that he /she was authorized to execute said
instrument.
IN WITNESS WHERE r have hereunto set my h" an affixed my official seal
the day and year first abort,
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f 1 0%h RY PUBLIC in and for the MARY M. BLOCK
S' ate of Wi sconsi n
Residing at Milwaukee Countv
C" commission expires
rPerr .n.rr.E Y P June 13. 1993
EXIIII3I'I' A.
Green River Levee
City of Tukwila Project No. 86 -DIt21
Legal Description for Proposed Levee Easeinetit
GACO Western Property
That portion of the following described Tract "X" lying within a strip of land 30.0 feet in
width and having 15.0 feet of width on each side of the centerline of the top of the
existing levee.
Tract "X"
That portion of Government Lot 6, Section 35, Township 23 North, Range 4 East, W.M.,
in King County,Washington, vying southeasterly of the southeasterly margin of County
Road Southcenter Parkway, formerly 57th Avenue South and southwesterly of a line
described as follows:
Commencing at a point from which the southwest corner of said Government Lot 6 bears
S0 °58' 10 "W 313.17 feet and N89 °01'50 "W 505.54 feet, said distances being measured
respectively at right angles to and along the south boundary line of said Government Lot,
said point being marked by all iron pipe set by R.W. Jones and Associates on October 4,
1966;
Thence N67 °36'00 "W 1.46 feet, more or less, to the southeasterly margin of said County
Road and the True Point of Beginning of the herein described line;
Thence S67 36'00 "E 1.46 feet, more or less, to said iron pipe;
Thence continue S67 °36'00 "E 248.63 feet to a concrete monument set by R.W. Jones and
Associates on October 4, 1966;
Thence continue S67 °36'00 "E to the bank of the Green River and the terminus of the
herein described line.
ALSO that portion of Government Lot 7, Section 35, Township 23 North, Range 4 East,
W.M., in King County, Washington, lying southeasterly of County Road (Southcenter
C3Tarkway, formerly 57th Avenue South) and lying northeasterly of a line established of
tatutory Warranty Deed recorded August 3, 1973, under Recording Number 7308030425,
.—said line being more particularly described as follows:
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(Exhibit A. cont.)
Beginning at a point from which the northwest corner of said Government Lot 7 bears
S2 °58' 10 "W 313.17 feet and N89 °01'50 "W 505.54 feet, said distance being measured
respectively at right angles to and along the north boundary line of said Government Lot,
said point of beginning is marked by a concrete monument which is indicated as Point "A"
on survey drawing by R.W. Jones and Associates, Engineers and Surveyors, dated October
6, 1966, and entitled Boundary and Topographic Survey of a portion of Government Lots 6
and 7, Section 35, Township 23 North, Range 4 East, W.M., in King County, Washington;
Thence S67 36'08 "E 248.63 feet to a concrete monument set by said engineers and
surveyors on October 4, 1966, and indicated as Point "B" on said survey drawing;
Thence S23 °57'22 "W 208.79 feet to a concrete monument also set by said engineers and
surveyors, said monument marking the intersection with a line at right angles, said line to
be referred to hereinafter in this description as the southwesterly line of the Western
Tract;
Thence continuing S23 57'22 "W 138.76 feet;
Thence N66 02'38 "W along a line parallel to said southwesterly line of the Gaco- Western
Tract 5.39 feet to a concrete monument;
Thence continuing N66 °02'38 "W 244.61 feet, more or less, to an intersection with the
southeasterly line of 571h Avenue South;
Thence southwesterly along said road margin 5.14 feet, more or less, to an intersection
with the northwesterly extension of the northeasterly face of the Alaska Seavan Building
and the True Point of Beginning of the line herein described;
M Thence S66 °02'38 "E along said extension and along said northeasterly face of said
am
C building and along the southeasterly extension of said building line 280 feet, more or less,
to the bank of the Green River and the terminus of the herein described line.
CO End of Tract "X"
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