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Home My WebLink About1963 - Agreement - Southcenter Corporation / Seattle First National Bank - 554945rd, THIS CO TION, a Washington c and SEATTLE -FIRST NATIO herein called the "Bink"; W LTNESSETH : tered into by be rati herein called a National B R E CITAL S 1. Southcenter is the owner and holder of record of the real property described in Exhibit "A" attached hereto and by reference thereto made a part hereof. Said real property is herein called the'Southcenter Property." 2. The Bank is the owner and holder of record cf the real property described in Exhibit 'f!" attached hereto and by reference thereto made a part hereof. Said property is herein called the "Bank Property." 3. Southcenter is engaged in developing a shopping center on the Southcenter Property which is adjacent to the Bank Property. 4. As the Bank proposes to establish a branch of the Bank on the Bank Property, the development of the shopping center on the Southcenter Property by Southcenter will be of substantial benefit to the Bank because all of the tenants of the shopping center will be potential clients and customers of the Bank. In addition, the customers of the tenants in the shopping center will be potential It ng association, -1- cost s of the £cper b„ <, located . im profitable. 5. Both Southcenter and the B desire that there be free access by persons and vehicles from the Bank Property to the Southcenter Property and vice versa. NOW THERE in consideration at the mutual covenants herein contained, the parties hereto do hereby agree as tollows: 1. During a five-year period from February 1, 1963, South - center agrees to promote and publicize the shopping center and the branch of the Bank as a part of such shopping center by bro- chures, advertising, and by personal contact of officers and employees of Southcenter with potential tenants of the shopping center, and with the public, to the end that such shopping center be a highly successful regional shopping center. The Bank agrees to pay to Southcenter the sum of THIRTY-ONE THOUSAND SEVEN HUNDRED FIFTY DOLLARS ($31,750.00) each year for a period of five years, commencing February 1, 1963, as its contribution toward the promotion and publicizing of the shopping center. Such payments snail be made in quarterly installments of SEVEN THOUSAND NINE HUNDRED THIRTY-SEVEN and 50/100 DOLLARS ($7,937.50), the first payment to be made on May 1, 1963, and the succeeding, payments to be made on the first day of each quarter thereafter for the full period of five years. ssful regio trated t a breach sbppLu$ c , ter is highly -2- L; 4 FM 5G6 2. The b rees t Property 11 t be used for any other * se than for cosssercial t the con- sent of Southcenter but such consent shall not be unreasonably withheld if the Bank desires to use any portion of the premises for any other purpose. 3. Each of the parties hereto agrees in connection with the construction .:f any buildings on its properties that it will provide parking for such buildings in c. xliance with the zoning ordinances of the city of Tukwila, Washington, in which city both the Southcenter Property and the Bank Property are Located. 4. As a part of the consideration hereof Southcenter, for itself, its successors and assigns, gives and grants to the Bank, its successors and assigns, the exclusive right and privilege of operating and conducting a general banking business upon the real properties described in Exhibits "A" and "B" hereto for a period commencing on the date hereof and expiring on December 31, 1975. Southcenter for itself and its successors and assigns covenants and agrees with the Bank, its successors and assigns, that it wiLL not permit the conduct or operation of a general banki:ig business by anyone other than the Bank upon any portion of the real prop- erty described in Exhibits "A" or "B" at any time hereafter and until December 31, 1975 without the written consent of Bank first had and obtained. Such restriction shall not apply tc a mutual savings bank or to a savings and loan association. 5. SoLt,center hereby gives and grants to the Bank a -3- t!� 4044 .> f 44.4 nonexclusive sas t over the real property described in Exhibit "A" attached hereto for access to the Banks premises described in �� " b the customers and loyees cf the Bank and for ibit B Y rking by the customers of the Bank on the portions of the real pafrom time property described in Exhibit "A` set aside for parking to time for the customers of Southcenter and its tenants and their customers. 6. The Bank hereby gives and grants to Southcenter a non- exclusive elusive easement over the real property described in Exhibit 'B" attached hereto for access to the premises described in Exhibit "A" b customers and employees of Southcenter and its tenants and their y customers, and for parking by the customers of Southcenter's tenants on the real property described in Exhibit "B" set aside ki from time to time for the customers of the Bank. Said for par ng easements shall run with the land and shall be binding upon the successors and assigns of each of the parties hereto. DATED this /r day of February, 1963. UTHCEN ='' CORPORATION COR Akio , ,' pry , C4 4 f3 t;*, y , s Its President SEArr E -FIRST NATIONAL BANK -4- vOL,101,) naciai25, STATE OF TJGTOLl ) ) SS COUNTY OF KING On this 16th day of E212.22E2, 1963, before me personally appearedALI„ to me known to be the p&slint----------of SOUTHCENTER CO TIO$, the corporation that executed the within and foregoing instrument, and acknowledged the 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 was authorized to execute the said instrument, and that the seal affixed is the corporate seal of said corporation. . 14N WITNESS WHE: .F, I have hereunto set my hand and affixed 4--- .00r ' icial seal the day and year last above written. 0 lkfr , , • So ' ,, 0 = lr..):°.:*1°.7 ''', Cis. 61A514' STATE OF WASHINGTON COUNTY OF KING On this A. day of 'le( 4-- . 1963, before me personally.,appearedto me known to i be the 4.7 of SEATTLE -FIRST NATIONAL BANK, the corporation that executed the within and foregoing instrument, and acknowledged the 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 was authorized to execute the said instrument, and that the seal affixed is the corporate seal of said corporation. IN WITNESS WHEREOF, I have hereunto set my hand and affixed my official seal the day and year Last above written. / Notary public in and for the State of Washington, residing at Seattle ) ) SS r ary Public in and for the State of Wasnington, residing at Seattle e 41( 1 IV bp, e ....... .. , %LI •, •• •1- • • . -5- *s ...... IB IIA„ That portion of the nort st quarter of the rtst quarter and the northeast quarter of the northweat quarter of Section 26 and the southeast quarter of the southwest quarter and southwest quarter of the southeast quarter of Section 23, all in Township 23 North, Range 4 East, W.M., in King County, Wash- ington, described as follows: Beginning at a point on the east line of the northwest quarter of northeast quarter of said Section 26, lying 1000.00 feet south of the northeast corner thereof; thence run N.89°40' 24"W. parallel with the north line of said subdivision 2000 feet more or less, to the easterly line of proposed 57th Avenue South; thence N.O°23'45"W. alon3 said easterly line 1000 feet, more or less, to the north line of the northeast quarter of the north- west quarter of said Section 26; thence continue along said easterly line N.O°23100"'.1. 425.00 feet; thence S.89°40`24"G. 1124.49 feet; thence southeasterly 900 feet, more or less, to a point on the east line of the southwest quarter of the south- east quarter of said Section 23 lying 320.00 feet north of the southeast corner thereof; thence south along said east line and the east line of the northwest quarter of the northeast quarter of said Section 26, 1320.00 feet to the point of beginning, 1..!:::;S the easterly 30.00 feet thereof for road. 4375ya e iX11IB IT 4"B A tract of d tit Section 23, T 23 north, • 4, east, W. M that Mc, a portion al W. H. Gilliam Donation Land Claim No. 40, and a portion af tract 19 of th• Inter -urban Addition to Seattle, as recordeu on • 55, Volume 10 of Plats, records of King County, describe4 as follows: Beginning at the northwest corner of the northeast quarter al the north - USA quarter of Section 26, Township 23 north, Range 4 oast, W. M.; th•Lc• north 0°11109" west along the west lino of said subdivision pro - across W. B. Gilliam D. L. C. No. 40, 406.49 foot; thence south 89-47-51 west 30 feet to the true point of !zing. Thence north 0°1209" west, 217.60 feet to a point of curve; thence an a cur.,e to the left with radius Of 50 feet a distance of 79.53 feet to point of tangwnt, thence south13/1°417west, 3100. Se feet tc a point of curve. thence on a curve to the left with radius of 122.35 feet, a distance ci 53.48 feet to point of compound curve; thence continue on a curie tc tre left with radius ot 46.0 Net, a distance of 45.96 feet tocpoint 01tangelt I herr e south 0 1036" wiat 178.75 feet; thence south 87 25'13" eLst. 525 42 test to the true point of beginning, and subject to a 10.0 fix3t easevnent adjacent to the east line of tract. ContaLning 3.0 acres .17.'an' r ilia ',led tot Iturcord -c".‘ . R.qu.i 04 Pug* Sound Td, Insuzanc• Co oafit7 A AAORRIS. County Audrtor