HomeMy WebLinkAboutMOU - Option to Purchase - Auburn Professional PlazaMEMORANDUM OF OPTION TO PURCHASE
AUBURN PROFESSIONAL PLAZA, LLC, a Washington limited liability company
APP") and THE CITY OF AUBURN, a code city of the state of Washington ("the City")
entered.:into.:an::agreement dated .,.AliY /Y 2010, ("the Agreement"),
which provides among other things,';that for and in consideration of the covenants and
performanceiherein set forth and upon the terms, conditions, covenants and provisions set
forth.:in length therein'.
1. Pursuant to.-the Agreement ,APP agreed to sell, and the City agreed to purchase
certain property in ::that;:certain Cor#dornirnum Project known as One Main Street
Professional...Plaza, a.:condominiu i,..according to the Condominium Declaration
recorded under Recording Number 20100512000511 and amendments thereto, if any
and in Volume 268•of.;Condomin.iums; page(s)91,through 95,inclusive, in King County,
Washington (the "APP Condominium")..' Included as part Of the property sold to and
purchased by the City as that prope.rty .:legally.described as Unit 380 of the APP
Condominium ("Unit 380"):•.,.,
2. Pursuant to the Agreement, the`City granted.,APP the right to repurchase Unit,.380,
which"Unit is legally described as Unit. 380;' One Main:Street Professional Plaza, a
condominium, according to the Condominium Declaration recorded:under Recording
Number 20100512000511 and amendments'Thereto, if any and-in Volume 268 of
Condominiums, page(s) 91 through 95, inclusive;in King County; Washington: Said
right of repurchase must be completed within two (2)years after the date of recordation
of this Memorandum of Option of Purchase.
3'• The Agreement-Sett forth the price, terms, and other conditione•concemin'g the rights
herein referenced.
4. .":.:The herein'referenced Agreement is made upon the terms, conditions, covenants and
pitvisions.set.forth'at length therein, each and all of which terms, conditions, covenants
and provisions:are hereby incorporated herein with the same force and effect as if set
out at length herein;`To the extent the provisions of this Memorandum of Option to
Purchase conflict..*with the provisions of the Agreement, the provisions of the
Agreement shall prevail arid control. •
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IN WITNESS WHEREOF, APP and the City have duly executed this
emoraridui•n of Lease as of the day and year first above written.
AUBURN PROFESSIONAL PLAZA, LLC,
a Washington limited liability company
By:• ""Oliphant Real Estate Services, Inc.
a;Washington corporation
itsits and managing member
By
Je e O • air resident•
STATE OF "•L J f
COUNTY OP:. G)
4rt 'Y:•I 1 :3 2010 before me, A r 5
Notary Public, personally appeared Jeffrey Oliphnt, personally
known. to„me to be,'the; person whose name is subscribed to the within instrument and
acknowledged to m0 that he'executed the same in his authorized capacity, and that by his
signature on the iristrtimelitthe person(s), or the entity upon behalf of which he acted,
executed the instrument..:
A. LUDBERG ; WITNESS my hand;and.official seal.
1 NOTARY PUBLIC`!
STATE OF WASHINGTON r
COMMISSION EXPIRES
FEBRUARY 9. 2013 ;
SIGNATURE OF NOTARY::`
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THE CITY OF AUBURN
a munic •- ,• ation
By
mar- AO
Peter Lewis, Mayor
ApprovedIV tz,
pegAqty Attorney
STATE OF WASHINGTON
COUNTY OF KING
On„,: 71,.r/001: /3.:01,9 JO , 2010 before me .7)4fri.7-c/4.1 Ea8?/-..
N ary Pubric, personally appeared Peter Lewis, personally known to me to
be the person whose..finne is subscribed to the within instrument and acknowledged to me
thai,:n ,.exeCuted the same in ii authorized capacity, and that by his signature on the
instrument the entity upon behalf of which the person acted, executed the instrument.
LI•IIELLt WITNESS my hand and official seal.s7. ti,Cs,
e4ASS/Orilt,
1.4 0 7_
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4 eict1;7-- I::
LIG i SIGNATURE OF NOTARY
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