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HomeMy WebLinkAbout08-049 - Carosino and Torghele - Duwamish Gardens Purchase 0 (Aq (CL) CITY OF TUKWILA CONSERVATION FUTURES PROGRAM DUWAMISH GARDENS PROJECT CAROSINO PARCEL FIRST ADDENDUM TO REAL ESTATE PURCHASE AND SALE AGREEMENT This Addendum is made as of the date this instrument is fully executed by and between RINALDO M. CAROSINO AND LORRAINE CAROSINO, husband and wife; and MAGDA TORGHELE, as her separate estate "Seller and The City of Tukwila, a municipal corporation of the State of Washington "Buyer and amends that certain Real Estate Purchase and Sale Agreement "Agreement between the parties dated July 31, 2008. 1. Paragraph 1 of the Agreement is amended to read as follows: 1. PURCHASE PRICE: The total purchase price for the Property is One Million Nine Hundred Seventy Four Thousand and No /100 Dollars (US $1,974,000.00) "Purchase Price The Purchase Price is payable at closing in cash. 2. Paragraph 3 of the Agreement is amended to read as follows: 3. CONTINGENCIES: 3.1 Environmental Review Contingency: The sale of the Property is contingent on a determination by Buyer based upon an Environmental Site Assessment that there are not and have not been any significant releases of hazardous materials on the Property that are significantly different or greater than disclosed in Phase I and II Environmental Site Assessments prepared for Sound Transit (the "Sound Transit Report"), a copy of which has been made available to Buyer. Seller hereby grants Buyer's employees, agents or contractors a right of entry onto the Property upon 24 hour notice for any site inspections and testing, including but not limited to collection and testing of bore samples from random locations within the Property, performed in connection with such Assessment. In the event Buyer elects not to purchase the property, it shall restore the Property to its original condition prior to testing. In connection with such inspections, Buyer agrees to hold harmless, indemnify and defend Seller, its officers, agents and employees, from and against all claims, losses, or liability, for injuries, sickness duwamish gdns-carosino. I ad.doc Page 1 of 7 O 08/14/08 or death of persons, including employees of Buyer caused by or arising out of any act, error or omission of Buyer, its officers, agents, contractors, subcontractors or employees in entering Seller's property for the above purposes, to the extent not caused by or arising out of any act, error or omission of Seller, its officers, agents and employees. 3.2 Archaeological Review: The sale of the property is contingent on completion of an archaeological review sufficient to insure that planned excavations within the Property may be completed. 3.3 Building Demolition: The sale of the Property is contingent on approval of demolition of the improvements thereon by the agency or agencies responsible for monitoring and enforcement of statutes, ordinances and regulations pertaining to historic preservation. Buyer will indemnify and hold Seller harmless from all claims and expenses arising from such removal by Buyer. 3.4 Council Approval: The sale of the Property is contingent on approval and appropriation by the City Council of the City of Tukwila of funds sufficient to close the sale. 3.5 Removal of Contingencies: Buyer shall have a period of 90 days from the date all parties have signed this Agreement to remove all contingencies. Buyer may remove such contingencies by sending written notice thereof to Seller pursuant to Paragraph 7 herein. If the contingencies are not removed within this period, this Agreement shall be null and void. 3. Paragraph 5.4 of the Agreement is amended to read as follows: 5.4 Debris and Personal Property: Seller will remove all non -wood debris and personal property, prior to each closing, located on the Property (if any) at Sellers cost and expense. The Seller of Parcel B (Magda Torghele) will be allowed to remove a new furnace and air conditioned purchase on July 8, 2008 from the residence located on said parcel on or before the time of closing. In addition, at their option, Seller may remove a metal building located on Parcel A. Seller will indemnify and hold Buyer harmless from all claims and expenses arising from such removal; 11. Paragraph 11 of the Agreement is amended to read as follows: 11. TERMINATION OF OFFER: This Addendum to the offer shall terminate if not accepted by Seller on or before August 21, 2008. Except to the extent inconsistent herewith the Agreement is hereby confirmed and remains in full force and effect. duwamish gdns carosino.lad.doc Page 2 of 7 08/14/08 Signed in duplicate original. BUYER: The City of Tukwila, a municipal corporation of the State of Washington. BY: •T/ Jini Ha rton, ,,-c May Date: 2- SELLER: Rinaldo M. Carosino Lorraine Carosino 27/-/-6 Magda To hele EXIIIBITS: Exhibit A, Legal Description Exhibit B, Permitted Exception/Title Report duwamish gdns- carosino.1ad.doc APPROVED AS TO FORM Office of the City Attorney g/3 )1OCS Date Date L O Date Page 3 of 7 08/14/08 STATE OF WASHINGTON )SS. COUNTY OF KING I certify that I know or have satisfactory evidence that j (.x9 y eitO is the person who appeared before me, and said person acknowledged that he signed this instrument, on oath stated that he is authorized to execute the instrument and acknowledged it as the T' aW Or of the City of Tukwila to be the free and voluntary act of such party for the uses and purposes mentioned in the instrument. Dated: S ©T r 0 cl_a ka� Printed name Notary Public in and for the State of Washington Residing at My appointment expires 3 -9- a duwamish gdns carosino.lad.doc Page 4 of 7 08/14/08 STATE OF WASHINGTON) )SS COUNTY OF KING On this ,9.6 day of A5 ��.5� 2008, efore me, the undersigned, a Notary Public in and for the State of duly commissioned and sworn personally appeared Rinaldo M. Carosino; to me known to be the individual described in and who executed the foregoing instrument, and acknowledged to me that he signed and sealed the said instrument as his free and voluntary act and deed for the uses and purposes therein mentioned. WITNESS my hand and official seal hereto affixed the day and year in this certificate above written. duwamish gdns- carosino.lad.doc c_a1c1, C Printed name at Notary Public in and for the State of Washington, residing City and State My appointment expires i co A (c /o196 Page 5 of 7 08/14/08 STATE OF WASHINGTON) )SS COUNTY OF KING On this c9 O day of 4 cf" 2008 before me, the undersigned, a Notary Public in and for the Sate of j duly commissioned and sworn personally appeared Lorraine Carosino, to me known to be the individual described in and who executed the foregoing instrument, and acknowledged to me that she signed and sealed the said instrument as her free and voluntary act and deed for the uses and purposes therein mentioned. WITNESS my hand and official seal hereto affixed the day and year in this certificate above written. duwamish gdns- carosino.1ad.doc Printed name Notary Public in and for the State of Washington, residing at City and State My appointment expires Page 6 of 7 08/14/08 STATE OF WASHINGTON) )SS COUNTY OF KING On this c2 O day of ACfclA 1 2008, before me, the undersigned, a Notary Public in and for the State of f�� S tl -cd duly commissioned and sworn personally appeared Magda Torghele, fame known to be the individual described in and who executed the foregoing instrument, and acknowledged to me that she signed and sealed the said instrument as her free and voluntary act and deed for the uses and purposes therein mentioned. WITNESS my hand and official seal hereto affixed the day and year in this certificate above written. itP\ 0IAR ink ee 4b e 4 duwamish gdns- carosino.1ad.doc Printed name Notary Public in and for the tate of Washington, residing at SPA Lt) A City and State My appointment expires oci, /D a 0 Page 7 of 7 08/14/08 3. Direct Deed. In order to avoid duplicative recording, escrow an s; t_ and other like charges, Intermediary hereby instructs Exchanger, and I;xctrann agrees, to execute a deed to the Property in favor of Buyer. In addition, interne instructs Exchanger to Assignments of Leases. execute all other conveyance documents in favor of B l 4. Continuina Obliaatian. Notwithstanding this Assignment Agree warranties, representations, duties, and obligations of Exchanger and Buy an d Wit Agreement shall continue in full force and effect, and neither Exchanger nor Buyer released from the same, sr 5. Tax Effect. No party has made or is making any representati other concerning any of the tax effects of the transactions provided for in this Assign tha Agreement. No party shall be liable for or in any way responsible to the other party bow err of any tax effect resulting from the transactions provided for in this Assignment Ag reem -ab Each party is relying on its own tax advisors. ant. 6. Counterr, arts: This Assignment Agreement may be exec in counterparts and shall be binding on all the parties hereto as if one agreement has b signed. Dated as of the date set forth above. Intermediary: Exchange Facilitator Corporation, a Washington corporation ¢7 Kelly Monroe tes, House Counsel and A thorized Signatory Buyer: City of Tukwila, a rnunicipal corporation Its-', Un{ Assignment Agreement Page 2 Exchanger: Magda T orghele Carosino: Rinaldo M. Carosino Lorraine Carosino This Assignment Agreement is made and effective as of the 10th day of December, 2008, by and between Magda Torghele, as her separate estate "Exchangor Exchange Facilitator Corporation, a Washington corporation "Intermediary Rinaldo M. Carosino and Lorraine Carosino, husband and wife "Carosino and City of Tukwila, a municipal corporation "Buyer and is executed as an addendum to the Real Estate Purchase and Sale Agreement dated on or about June 16, 2008, as amended, between Exchangor, Carosino, and Buyer. Recitals Exchangor, Carosino and Buyer entered into the above- referenced Real Estate Purchase and Sate Agreement, a true and correct copy of which is attached hereto as Exhibit "A" "Agreement in which Exchangor and Carosino agreed to transfer their interests in the real property described in said Agreement "Real Property") to Buyer. Exchangor desires to structure the disposition of her interest in the Real Property (Exchangor's interest is hereafter referred to as the "Property to qualify as a partial tax deferred exchange pursuant to Section 1031 of the Internal Revenue Code of 1986, as amended. Carosino desires to sell their undivided interest in the Real Property. Contemporaneously with the execution of this Agreement, Exchangor and Intermediary are entering into an Exchange Agreement in which Exchangor will transfer the Property to Intermediary in exchange for other real property to be acquired by Intermediary and transferred to Exchangor within the deadlines of Section 1031. Exchangor and Intermediary desire that Exchangor assign to Intermediary Exchangor's right, title and interest under the Agreement as set forth below in order to facilitate the tax- deferred exchange of Exchangor. Intermediary is willing to accept such assignment. as follows: Assignment Agreement Page 1 Assianment Aareement Buyer and Carosino are agreeable to such assignment. Now, therefore, for good and valuable consideration, the parties hereto agree 1. Assianment. Except as hereafter provided, Exchangor hereby assigns and transfers to Intermediary all of her right, title and interest as seller in and under the Agreement. Exchangor retains the right to receive in cash proceeds directly from Buyer upon the closing of the Property. Intermediary hereby accepts an assignment of Exchangor's right, title and interest as seller in and under the Agreement, as set forth above. 2. Consent to Assianment. Buyer and Carosino hereby consent to this assignment, and acknowledge receipt of this assignment prior to closing. Buyer agrees to pay in cash proceeds directly to Exchangor upon the closing of the Property and to pay the balance of the purchase price of the Property to Intermediary. CITY OF TUKWILA DUWAMISH GARDENS PROJECT CAROSINO PARCEL REAL ESTATE PURCHASE AND SALE AGREEMENT Price The Purchase Price is payable at closing in cash. 2. TITLE: 3. CONTINGENCIES: duwamish gdns- carosino.psa2 /6//v7 e--S Pi/a.re a not a .n✓ i v,o M e dr S'4.0 4 c- is,sshva.1 k€;po44 0 g-out 9 ApecouPS C. o uA) t. L J 0 f) This Agreement is made as of the date this instrument is fully executed by and between RINALDO M. CAROSINO AND LORRAINE CAROSINO, husband and wife; and MAGDA TORGHELE, as her separate estate "Seller and The City of Tukwila, a municipal corporation of the State of Washington "Buyer for purchase and sale of that certain property situated in King County, Washington, described on Exhibit "A and all rights appurtenant (the "Property OIJ M -I-jor itl/N 1 ?vS veviy ou>e THQasi9Y') 13H1) No/i00 poi. 4 (us i, y 7 .f o oo PURCHASE PRICE: The total purchase price for the Property i "Purchase 2.1 Deed: At closing, Seller will execute and deliver to Buyer a Statutory Warranty Deed conveying and warranting good and marketable title to the Property free and clear of all defects or encumbrances except for the lien of real estate taxes and drainage service charges not yet due and payable and those defects and/or encumbrances (if any) identified on Exhibit "B" (collectively, "Permitted Exceptions 2.2 Title Insurance: At closing, Buyer shall receive (at Buyer's expense) an owner's Standard ALTA policy of title insurance, dated as of the closing date and insuring Buyer in the amount of the Purchase Price against loss or damage by reason of defect in Buyer's title to the Property subject only to the printed exclusions appearing in the policy form and any Permitted Exceptions. 3.1 Environmental Review Contingency: The sale of the Property is contingent on a determination by Buyer based upon an Environmental Site Assessment that there are not and have not been any significant releases of hazardous materials on the Property that are significantly different or greater than disclosed in a prepared for Sound Transit (the "Sound Transit Report"), a copy of which has been made available to Buyer. Seller hereby grants Buyer's employees, agents or contractors a right Page 1 of 12 06/12/08 j A -1-4 r *h e bus ii el not f cha rc 1 k &°PO4.1 Said pro 1/4 iv +0 b r^P.il'op,e1 1'o ri tong1 Goncti ►ov1 po ror of entry onto the Propert for any site inspections and testing, including but not limited to collection and testing of bore samples from random locations within the Property, performed in connection with such Assessment In connection with such inspections, Buyer agrees to' 1 66IT indemnify and defend Seller, its officers, agents and employees, from and against all claims, losses, or liability, for injuries, sickness or death of persons, including employees of Buyer caused by or arising out of any act, error or omission of Buyer, its officers, agents, contractors, subcontractors or employees in entering Seller's property for the above purposes, to the extent not caused by or arising out of any act, error or omission of Seller, its officers, agents and employees. 3.2 Archaeological Review: The sale of the property is contingent on completion of an archaeological review sufficient to insure that planned excavations within the Property may be completed. 3.3 Building Demolition: The sale of the Property is contingent on approval of demolition of the improvements thereon by the agency or agencies responsible for monitoring and enforcement of statutes, ordinances and regulations pertaining to historic preservation. gide( iii II tndtrnn► tsty u,ncL h sailer Aar mless o4-0rh alt ct6), e rec tt.ric n rom s,, ren^c .)ril; 3.4 Council Approval: The sale of the Property is contingent on approval and appropriation by the City Council of the City of Tukwila of funds sufficient to close the sale. 3.5 Removal of Contingencies: Buyer shall have a period of 90 days from the date all parties have signed this Agreement to remove all contingencies. Buyer may remove such contingencies by sending written notice thereof to Seller pursuant to Paragraph 7 herein. If the contingencies are not removed within this period, this Agreement shall be null and void. 4. RISK OF LOSS: Seller will bear the risk of loss of or damage to the Property prior to closing. In the event of such loss or damage to the Property, Seller shall promptly notify Buyer thereof and Buyer may, in its sole discretion, terminate this Agreement by giving notice of termination to the Seller. No such right to terminate shall apply in the event of a casualty or fire loss affecting only the structures located on the Property. In such event, Seller shall not be required to repair or replace any such damaged structures. 5. SELLER'S REPRESENTATIONS, WARRANTIES AND COVENANTS: Seller represents, warrants and covenants to the Buyer at the date of execution of this Agreement and the date of closing that: 5.1 Authority: Seller, and the person(s) signing on behalf of Seller, has full power and authority to execute this Agreement and perform Seller's obligations, and if Seller is a corporation, all necessary corporate action to authorize this transaction has been taken; duwamish gdns- carosino.psa2 Page 2 of 12 06/12/08 s /t er u't parc.e ,6 (Tfl, 9.hde) Co n et" C Pv i-chased • - he o Cjoing Set%8rs 1p ll ('3C tiv nn Lit. 5.2 No Leases: The Property is not subject to any leases, tenancies or rights of persons in possession, except the tenancy of the premises at 11245 East Marginal Way South in favor of Tony Carosino. If the tenant qualifies for relocation assistance it will be provided by buyer in accordance with the Federal Relocation Assistance Act. by Zvi 1 be etHo u'd t' d' mo euv rw lu g, 74e� resid ci 1Wited on 1 4 11i p Petit dw or ba� y 4 be 41I6611d 7 rem0..1# 4L Nei*, op floe% 9i' Mt t( 5.3 No Material Defect: Seller is unaware of any material defect in the Property; D fiOA t,.J Oa I) 5.4 Debris and Personal Property: Seller will remove alllebris and personal property, prior to each closing, located on the Property (if any) at Sellers cost and expensejand Seller will indemnify and hold Buyer harmless from all claims and expenses arising from such removal; 5.5 Contamination: Seller represents and warrants that to the best of their knowledge he /she /it has not caused or allowed the generation, treatment, storage, or disposal of hazardous substances on the property, except in accordance with local, state, and federal statutes and regulations, nor caused or allowed the release of any hazardous substance onto, at, or near the Property, except to the extent disclosed in the Sound Transit Report. Seller is in compliance with all applicable laws, rules, and regulations regarding the handling of hazardous substances, has secured all necessary permits, licenses and approvals necessary to its operation on the Property, and is in compliance with such permits. Seller has not received notice of any proceedings, claims, or lawsuits arising out of its operations on the Property and, to the Seller's knowledge, the property is not, nor has it ever been subject to the release of hazardous substances. 5.6 Fees and Commissions: Seller shall pay for any broker's or other commissions or fees incurred by the Seller in connection with the sale of the Property and Seller shall indemnify and hold Buyer harmless from all such claims for commission and /or fees. 5.7 Indemnification: Seller agrees to indemnify, defend, and hold harmless Buyer, its employees, agents, heirs and assigns, from and against any and all damage, claim, liability, or loss, including reasonable attorney's and other fees, arising out of or in any way connected to the breach of any representation or warranty contained herein. Such duty of indemnification shall include, but not be limited to damage, liability, or loss pursuant to all federal environmental laws, Washington State environmental laws, strict liability and common law. 6. CLOSING: 6.1 Time for Closing: The sale will be closed in the office of the Closing Agent not later than twenty one (21) days from the date all contingencies set forth in Paragraph 3 herein have been removed, or as soon thereafter as practicable. Buyer and Seller shall deposit in escrow with the Closing Agent all instruments, documents and moneys necessary to complete the sale in accordance with this duwamish gdns- carosino.psa2 Page 3 of 12 06/12/08 Agreement. As used in this Agreement, "closing" and "date of closing" means the date on which all appropriate documents are recorded and proceeds of the sale are available for disbursement to Seller. The Closing Agent shall be: 6.2 Prorations: Closing Costs: Seller will pay real estate excise taxes (if any are due) and real property taxes prorated through the date of closing. Buyer will pay the premium for its owners title insurance policy, the cost of recording the Statutory Warranty Deed from the Seller, and the Closing Agents escrow fees. 6.3 Possession: Buyer shall be entitled to possession of the Property at Closing. 7. NOTICES: Any notices required herein shall be given to the parties at the addresses listed below: TO SELLER: Rinaldo M. Carosino Lorraine Carosino 10652 Des Moines Memorial Drive Seattle, WA 98168 Magda Torghele 14724 57 Avenue South Tukwila, WA 98168 8. GENERAL: This is the entire agreement of the Buyer and Seller with respect to the Property and supersedes all prior or contemporaneous agreements between them, written or oral. This Agreement may be modified only in writing, signed by Buyer and Seller. Any waivers under this agreement must be in writing. A waiver of any right or remedy in the event of a default will not constitute a waiver of such right or remedy in the event of any subsequent default. This Agreement is for the benefit of, and binding upon, Buyer and Seller and their heirs, personal representatives, successors and assigns. The invalidity or unenforceability of any provision of this Agreement will not affect the validity or enforceability of any other provision. Time is of the essence in this agreement. 9. WASTE; ALTERATION OF PROPERTY: Seller shall not commit waste on the Property, nor shall Seller remove trees or other vegetation, coal, minerals or other valuable materials nor shall Seller substantially alter the surface or subsurface of the Property without the express written consent of Buyer. duwamish gdns- carosino.psa2 Stewart Title Guaranty Company 1420 Fifth Avenue, Suite 500 Seattle, WA 98101 TO BUYER: The City of Tukwila Department of Public Works 6300 Southcenter Boulevard, Suite 100 Tukwila, WA 98188 Page 4 of 12 06/12/08 10. SURVIVAL OF WARRANTIES: The terms, covenants, representations and warranties shall not merge in the deed of conveyance, but shall survive closing. 11. TERMINATION OF OFFER: This offer shall terminate if not accepted by Seller on or before4tr u5 "s 9,00 r 12. SECTION 1031 EXCHANGE: Buyer and Seller agree that Seller is contemplating the acquisition of an exchange property to qualify for deferral of capital gains under Section 1031 of the Internal Revenue Code. Buyer agrees to cooperate with Seller on such exchange, provided that additional closing costs incurred by Seller in effecting such exchange shall be borne by Seller. Signed in duplicate original. BUYER: The City of Tukwila, a municipal corporation of the State of Washington. BY: c s7 r v Ji aggerton or Date: In 16 -b' SELLER: M4 C Rinaldo M. Carosino Lorraine Carosino duwamish gdns- carosino.psa2 APPROVED AS TO FORM Office of the City Attorney By G 7h/ /O.V Date 1 1 Se/e g Date Page 5 of 12 06/12/08 Magda torgJ le COUNTY OF KING duwamish gdns- carosino.psa2 /mil ii .42 Date EXHIBITS: Exhibit A, Legal Description Exhibit B, Permitted Exception/Title Report STATE OF WASHINGTON )S S. I certify that I know or have satisfactory evidence that ,r person who appeared before me, and said person acknowledged that he signed this instrument, on oath stated that he is authorized to execute the instrument and acknowledged it as the (r\cz. of the City of Tukwila to be the free and voluntary act of such party for the uses and purposes mentioned in the instrument. Dated: i-' Page 6 of 12 is the _3* 01- Tlei \\/1,<Vj 61- kQft Printed name Notary Public in and for the State of Washington Residing at l.t m,✓ eT My appointment expires 1 06/12/08 STATE OF WASHINGTON) )SS COUNTY OF KING On this 31-7.- day of 2008, before me, the undersigned, a Notary Public in and for the State/of t t 1. duly commissioned and sworn personally appeared Rinaldo M. Carosino, to me known to be the individual described in and who executed the foregoing instrument, and acknowledged to me that he signed and sealed the said instrument as his free and voluntary act and deed for the uses and purposes therein mentioned. WITNESS my hand and official seal hereto affixed the day and year in this certificate above written. duwamish gdns- carosino.psa2 z(-)/ CL, R 6__AA Printed name Notary Public in and for the State of Washin on, residing at S o M A City and State My appointment expires Cad 6 O Page 7 of 12 06/12/08 STATE OF WASHINGTON) )SS COUNTY OF KING On this 3' day of J 2008, b7fore me, the undersigned, a Notary Public in and for the State' f a S duly commissioned and sworn personally appeared Lorraine Carosino, to me known to be the individual described in and who executed the foregoing instrument, and acknowledged to me that she signed and sealed the said instrument as her free and voluntary act and deed for the uses and purposes therein mentioned. WITNESS my hand and official seal hereto affixed the day and year in this certificate above written. 0. 1114#44 0 ,OTA� 9 ms s duwamish gdns- carosino.psa2 )4 0 /71 zv C- f C Printed name Notary Public in and for the State of Washington, residing at z w City and State My appointment expires 0 c+ 00 Page 8 of 12 06/12/08 STATE OF WASHINGTON) )SS COUNTY OF KING before me, the .L7 08, On this day of 20 +u c u S� undersigned, a Notary Public in and for tie State of 6 duly commissioned and sworn personally appeared Magda Torghele, to me`Ycnown to be the individual described in and who executed the foregoing instrument, and acknowledged to me that she signed and sealed the said instrument as her free and voluntary act and deed for the uses and purposes therein mentioned. WITNESS my hand and official seal hereto affixed the day and year in this certificate above written. o ostIltio 04 fivoiAl OTAir CTS y C �Z n c LAC Printed name ate• +u Public in and f9r the State of Washington, residing at /,t A 00 City and State My appointment expires c2c t d r) 00 7 duwamish gdns- carosino.psa2 Page 9 of 12 06/12/08 CITY OF TUKWILA DUWAMISH GARDENS PROJECT CAROSINO PARCEL PARCEL A: EXHIBIT A LEGAL DESCRIPTION That portion of Government Lot 1, Section 10, Township 23 North, Range 4 East, W.M., in King County, Washington, described as follows: Commencing South 00 °32'40" West 636.35 feet from the Northwest corner of Government Lot 1; Thence South 88 °51'20" East parallel with the North line thereof 208.79 feet to the TRUE POINT OF BEGINNING; Thence North 69 °47' 10" East 514 feet, more or less, to the Westerly line of East Marginal Way; Thence South along said line to the Duwamish River; Thence Westerly along said river to a point bearing South 20 °12'50" East from the the true point of beginning; Thence North 20°12'50" West to the TRUE POINT OF BEGINNING; EXCEPT the Northerly 90 feet of the Easterly 100 feet thereof; EXCEPT the Southerly 90 feet of the Northerly 180 feet of the Easterly 100 feet thereof; AND EXCEPT that portion conveyed to King County by deed recorded under Recording Number 8708280481. PARCEL B: The Northerly 90 feet of the Easterly 100 feet of the following described property: That portion of Government Lot 1, Section 10, Township 23 North, Range 4 East, W.M., in King County, Washington, described as follows: Commencing South 00 °32'40" West 636.35 feet from the Northwest corner of Government Lot 1; duwamish gdns- carosino.psa2 Page 10 of 12 06/12/08 Thence South 88 °51'20" East parallel with the North line thereof 208.79 feet to the TRUE POINT OF BEGINNING; Thence North 69°47'10" East 514 feet, more or less, to the Westerly line of East Marginal Way; Thence South along said line to the Duwamish River; Thence Westerly along said river to a point bearing South 20 °12'50" East from the the true point of beginning; Thence North 20 °12'50" West to the TRUE POINT OF BEGINNING; PARCEL C: The South 90 feet of the North 180 feet of the East 100 feet of the following described property: That portion of Government Lot 1, Section 10, Township 23 North, Range 4 East, W.M., in King County, Washington, described as follows: Commencing South 00 °32'40" West 636.35 feet from the Northwest corner of Government Lot 1; Thence South 88 °51'20" East parallel with the North line thereof 208.79 feet to the TRUE POINT OF BEGINNING; Thence North 69°47'10" East 514 feet, more or less, to the Westerly line of East Marginal Way; Thence South along said line to the Duwamish River; Thence Westerly along said river to a point bearing South 20 °12'50" East from the the true point of beginning; Thence North 20 °12'50" West to the TRUE POINT OF BEGINNING; duwamish gdns- carosino.psa2 Page 11 of 12 06/12/08 CITY OF TUKWILA DUWAMISH GARDENS PROJECT CAROSINO PARCEL EXHIBIT B PERMITTED EXCEPTIONS /TITLE REPORT Those special exceptions listed on Stewart Title Guaranty Company Title Report #206132608 dated Undated, and any supplements thereto (which Title Report and Supplements are incorporated into this Agreement by this reference) numbered 6, 7, 8, 9, 10, 11, 12, 13, 14, 15, 16, 18, 19 and 20. duwamish gdns- carosino.psa2 Page 12 of 12 06/12/08