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Home My WebLink About2020 - Amendment to Restrictive Covenant Agreement (Impact Fee Exemption for Low-Income Housing) - Bellwether Tukwila, LLLP / City of Tukwila - 20200629000844Please Return To: When Recorded Return to: City of Tukwila 6200 Southcenter Blvd. Tukwila, WA 98188 Attn: City Clerk DOCUMENT TITL GRANTOR: GRANTEE: ABBREVIATED LEGAL: E: TAX PARCEL NO(S): REFERENCE NO.: 111111111111111111111111111111 20200629000844 AMENDMENT Roc: 6109.60 6/29/2020 10:18 AM KING COUNTY, WA 19-217(a) Council Approval N/A Amendment to City of Tukwila Restrictive Covenant Agreement (Impact Fee Exemption for Low -Income Housing) Bellwether Tukwila LLLP, a Washington limited liability limited partnership City of Tukwila, a non -charter, optional code Washington municipal corporation Lot 7, Block 2, and the West 63 feet of Lot 8, Block 2, Third Add. to Adams Home Tracts, Vol. 15, P. 17. Complete Legal Description on Exhibit A 004300-0108 20191230000521; 20200311900005 AMENDMENT TO CITY OF TUKWILA RESTRICTIVE COVENANT AGREEMENT (Impact Fee Exemption for Low -Income Housing) THIS AMENDMENTTO CITY OF TUKWILA. RESTRICTIVE COVENANT AGREEMENT (the "Amendment") is entered into as of June 17 , 2020, between the City of Tukwila, a non -charter optional code Washington municipal corporation (the "City"), and Bellwether Tukwila LLLP, a Washington limited liability limited partnership (the "Bellwether Tukwila"). The City and Bellwether Tukwila are collectively referred to in this Amendment as the "Parties" and individually as a "Party". WITNESETH: WHEREAS, the City and Bellwether Tukwila entered into that certain City of Tukwila Restrictive Covenant Agreement (Impact Fee Exemption for Low -Income Housing) dated December 23, 2019, and recorded under King County Auditor's File No. 20191230000521 on December 30, 2019 (the "Covenant") against the real property owned by Bellwether Tukwila and described in Exhibit A hereto in favor of the City (the "Property"); WHEREAS, pursuant to Boundary Line Adjustment Number L19-0111 recorded under King County Auditor's File No. 2020031190005, the property described in King County Auditor's File No. 20191230000521 underwent a Boundary Line Adjustment, which resulted in the revised legal description as identified herein; WHEREAS, pursuant to TMC 16.26.120(13)(6) and TMC 16.28.120(B)(6), the City has granted an 80% reduction in fire and parks impact fees on the Property; WHEREAS, in accordance with TMC 9.48.125(B)(6), the Property is also eligible for a reduction of transportation impact fees; WHEREAS, the City and Bellwether Tukwila wish to amend the Covenant to include the reduction of transportation impact fees; NOW, THEREFORE, for good and valuable consideration, the receipt and sufficiency for which are hereby acknowledged, and in consideration of the promises and covenants contained herein, the parties hereby agree as follows. Section 1. Incorporation of Recitals. The foregoing recitals arc correct and are hereby incorporated by reference as though fully set forth herein. Amendment to Restrictive Covenant — The Confluence Section 2. Amendments. (a) Section 5 shall be amended as follows: "This Agreement shall be effective on upon the date that the final certificate of occupancy is issued by the City for the Project and shall terminate on the date that is the ten-year anniversary thereof or upon the City's receipt of the full payment of the fir; auel parks and transportation impact fees (together the "Impact Fees") pursuant to Section 8.2 of this Agreement, whoever occurs first (the "Term"). (h) Section 8.2 shall be amended as follows: In the event that Bellwether Tukwila converts the Dwelling units and Project to a use other than for Low - Income Housing, in violation of Section (4)(ii) of this Agreement, and within 90 days after written notice from the City to Bellwether Tukwila of such default Bellwether Tukwila fails 10 clearly demonstrate that the Project has not been converted to a use other than Low -Income Housing, Bellwether Tukwila shall pay the City the full ilmpact fFees for the Property then in effect at the time of such conversion and this Agreement shall terminate and be of no further force and effect. Upon receipt of the full payment of the Impact Fees such fee, the City will properly record a termination of this Agreement or provide Bellwether Tukwila with such other evidence of termination of this Agreement as Bellwether Tukwila shall request. (c) Section 9.2 shall be amended as follows: All notices to be given pursuant to this Agreement shall be in writing and shall be deemed given when mailed by certified or registered mail, return receipt requested, to the parties hereto at the addresses set forth below, or to such other place as a Party may from time to time designate in writing: With a copy to: City Attorney City of Tukwila c/o Keuyert-Disend, PLLU 11 Front Street South lusaq Ogden Murphy Wallace PLLC 901 5u1 Ave Suite 3500 Seattle, WA 98164 Section 3. Survival of Provisions: Incorporation by Reference. Except as amended by this Amendtnent, the terms of the Covenant shall continue in full force and effect until the expiration or termination of the Covenant in accordance with its terms. Section 4. Governing Law, Venue. This Amendment is governed by the laws of the State of Washington. Venue for any action shall be in King County Superior Court. -2- Section 5. Successors and Assigns. This Amendment is binding upon and will inure to the benefit of the .Parties and their respective permitted successors and assigns. Section 6. Modification; Headings. This Amendment may not be modified or amended except by an instrument in writing signed by Bellwether Tukwila and the City. The headings in this Amendment arc for the purpose of reference only and do not limit or otherwise affect any of the terms hereof. Section 7. No Third -Party Beneficiaries, No Dedication. This Amendment is not intended to confer upon any person other than the Parties to this Amendment any rights or remedies under this Amendment. Nothing in this Amendment shall be deemed to be a gift or dedication of any portion of the real property referred to herein to the general public nor for any public use or purpose whatsoever. Section 8. Authority. The Parties each represent and warrant that they have full power and actual authority to enter this Amendment and to carry out all actions required of them by this Amendment. All persons are executing this Amendment in their representative capacities and represent and warrant that they have full power and authority to bind their organizations. Section 9. Entire Agreement. This Amendment represents the entire agreement of the Parties with respect to the subject matter hereof. There are no other agreements, oral or written, except as expressly set forth herein and the Covenant, as amended by this Amendment, supersedes all previous agreements oral or written. Section 10. Further Action. Each Party agrees to execute any and all instruments, documents and resolutions as may be reasonably necessary to effectuate thc covenants, terms, conditions and provisions contained herein. Section 11. Matters of Record. This Amendment is subject to all existing easements, licenses, encumbrances, title detects, matters of record, reservations and conditions affecting the Property. [Signatures Fol low] IN WITNESS WHEREOF, the parties have caused this Amendment to be signed by their respective, duly authorized representatives, as of the day and year tirst written above. City of Tukwila, a non-charter, optional code Washington municipal corporation aaara esaCa, a a,aa )(ell't tg AAA, r',ArArrAIAAA,A,,A1H,Irt3A,Arr A By Allan Ekberg Mayor ATTEST: By 63'4..z.veg (9642he4v City Clerk APPROVED AS TO FORM: ta,agnaal v,a aoatalauttaaaa.aora ci(rvt QSawd By City Attorney Amendment to Restrictive Covenant The Confluence Signature Page 1 of 2 Bellwether Tukwila LLLP, a Washington limited liability limited partnership By: Bellwether Tukwila GP LLC Its: General Partner By: Bellwether Housing Its: Manager dasi, oc.)e'ye Susan Boyd Chief Executive Officer Amendment to Restrictive Covenant - The Continence Signature Page 2 of. 2 EXHIBIT A LEGAL DESCRIPTION LOT 7, BLOCK 2, AND THE WEST 63 FEET OF LOT 8, BLOCK 2, THIRD ADDITION TO ADAMS HOME TRACTS, RECORDED IN VOLUME 15 OF PLATS, PAGE 17, IN KING COUNTY, WASHINGTON. Exhibit A