HomeMy WebLinkAboutITEM VIII-B-2k
CITY OF
AUBURN
Y WASHINGTON
AGENDA BILL APPROVAL FORM
Agenda Subject: Resolution No. 4393 Date: September 2, 2008
Department: Attachments: Budget Impact:
Human Resources Resolution No . 4393
Administrative Recommendation:
City Council adopt Resolution No. 4393.
Background Summary:
A resolution authorizing the Mayor and City Clerk to execute a purchase and sale agreement between the
City of Auburn and Auburn Professional Plaza for real property.
S0902-1
A3.13.4, 03.4.1.1
Reviewed by Council & Committees: Reviewed by Departments & Divisions:
? Arts Commission COUNCIL COMMITTEES: ? Building ? M&O
? Airport ® Finance ? Cemetery ? Mayor
? Hearing Examiner ® Municipal Serv. ? Finance ? Parks
? Human Services ? Planning & CD ? Fire ? Planning
? Park Board ?Public Works ? Legal ? Police
? Planning Comm. ? Other ? Public Works ? Human Resources
? Information Services
Action:
Committee Approval: ?Yes ?No
Council Approval: ?Yes ?No Call for Public Hearing
Referred to Until
Tabled Until
Councilmember: Backus Staff: Heineman
Meeting Date: September 2, 2008 Item Number: V111.6.2
AUBURN* MORE THAN YOU IMAGINED
RESOLUTION NO.4 3 9 3
A RESOLUTION OF THE CITY COUNCIL OF THE
CITY OF AUBURN, WASHINGTON, AUTHORIZING
THE MAYOR AND CITY CLERK TO EXECUTE A
PURCHASE AND SALE AGREEMENT BETWEEN
THE CITY OF AUBURN AND AUBURN
PROFESSIONAL PLAZA LLC FOR REAL
PROPERTY
WHEREAS, the City owns certain real properties in the downtown
Auburn area; and
WHEREAS, Auburn Professional Plaza, LLC is interested in purchasing
property in order to develop a multi-tenant mixed-use condominium building;
and
WHEREAS, the Auburn Professional Plaza, LLC desires to purchase the
property and the City desires to sell the real property at a cost that is acceptable
to the City.
NOW, THEREFORE, THE CITY COUNCIL OF THE CITY OF AUBURN,
KING COUNTY, WASHINGTON, HEREBY RESOLVES as follows:
Section 1. The Mayor of the City of Auburn and the Auburn City Clerk
are hereby authorized to execute a Purchase and Sale Agreement between the
City of Auburn and Auburn Professional Plaza, LLC for the purchase of real
property, which agreement shall be in substantial conformity with the
Agreement a copy of which is attached hereto, marked as Exhibit "A" and
incorporated herein by this reference.
Resolution No. 4393
August 13, 2008
Page 1 of 2
Section 2. The Mayor is hereby authorized to implement such
administrative procedures as may be necessary to carry out the directives of
this legislation.
Section 3. This resolution shall be in full force and effect upon
passage and signatures hereon.
Dated and signed this day of , 2008.
CITY OF AUBURN
PETER B. LEWIS
MAYOR
ATTEST:
Danielle E. Daskam, City Clerk
APP OVED A FORM:
n el B. 016id, City Attorney
Resolution No. 4393
August 13, 2008
Page 2 of 2
REAL ESTATE PURCHASE AND SALE AGREEMENT
This REAL ESTATE PURCHASE AND SALE AGREEMENT (this "Agreement") is entered into
as of the day of , 2008, by and the CITY OF AUBURN, a code city of the state of
Washington (hereinafter the "CITY") and between AUBURN PROFESSIONAL PLAZA, LLC, a
Washington limited liability company (hereinafter the "PURCHASER").
RECITALS:
A. The CITY is the owner of certain real properties and all improvements thereon
located in the City of Auburn, County of King, Washington, which are legally described on Exhibit
A attached hereto, and depicted for illustrative purposes only on Exhibit B attached hereto.
B. The PURCHASER is interested in acquiring the real property so described on
Exhibit A and to develop and construct on the property, and on other adjacent real property owned
by the PURCHASER, a multi-tenant mixed-use condominium building in accordance with other
agreements whereby portions of the building would be available to the CITY for use as
governmental offices; and
C. The PURCHASER desired to purchase, and the CITY desires to sell the real
property so described on Exhibit A, on the terms and conditions set forth herein.
AGREEMENT
NOW, THEREFORE, for good and valuable consideration, the receipt and sufficiency of
which are hereby mutually acknowledged, the CITY and the PURCHASER hereby agree as
follows:
1. CERTAIN DEFINED TERMS. For purposes of this Agreement, the terms set forth below
shall have the meaning assigned to them:
1.1 "Additional Parcels" means those parcels of real property located in King County
identified in Exhibit C attached hereto.
1.2 "Closing" or "Close of Escrow" means the recordation of the Deed in the Official
Records and receipt of the Deed.
1.3 "Closing Date" means the date selected by the PURCHASER on or after the date
the Contingencies are satisfied, but in no event later than December 31, 2008.
1.4 "Contingencies" mean the Purchaser Contingencies and the City Contingencies set
forth in Section 8 of this Agreement.
1.5 "Deed" means a statutory warranty deed.
1.6 "Escrow" means the escrow opened with Escrow Agent for the consummation of
the transaction described in this Agreement.
1.7 "Escrow Agent" means Pacific Northwest Title Company of Washington, Inc.
(Phone: (206) 622-1040).
Page 1
1.8 "Official Records" means the official real property records of King County,
Washington.
1.9 "Opening of Escrow" means the date a fully executed copy of this Agreement is
deposited with Escrow Agent.
1.10 "Purchase Price" has the meaning as set forth in Section 3.
1.11 "Parties" includes collectively the CITY and the PURCHASER.
1.12 "Project" means the new multi-tenant mixed-use condominium building to be
constructed on the Parcels and the Additional Parcels as more particularly described in the Lease
Agreement set forth in Section 6.4 below.
1.13 "Parcels" means the five (5) parcels of real property totaling approximately 21,600
square feet located in King County identified in Exhibits A & B which are attached hereto.
1.14 "Permitted Exceptions" means those title exceptions set forth on Exhibit D
attached hereto.
1.15 "Right to Repurchase" has the meaning as set forth in Section 18.
1.16 "Title Company" means Pacific Northwest Title Company of Washington, Inc.
1.17 "Title Policy" means an ALTA (2006) owner's policy of title insurance issued by
the Title Company to the purchaser with coverage in the amount of purchase price, showing title to
the Parcels vested in PURCHASER subject only to the pre-printed exceptions and the Permitted
Exceptions. The Title Policy shall have extended coverage if the PURCHASER provides the Title
Company with a survey meeting the Title Company's requirements.
2. PURCHASE AND SALE. The CITY agrees to sell to the PURCHASER, and the
PURCHASER agrees to purchase from CITY, the Parcels upon the terms and conditions set forth
in this Agreement.
3. PURCHASE PRICE. The total cash purchase price for the Parcels (the "Purchase Price")
shall be One Million Five Hundred Eighteen Thousand One Hundred Seventy Three Dollars and
No/100's ($1,518,173.00).
4. EARNEST MONEY DEPOSIT. On execution of this Agreement, the PURCHASER shall
deposit with Escrow Agent One Thousand Dollars and No/100's Dollars ($1,000.00) in cash (the
"Deposit"), which shall be held by Escrow Agent as an earnest money deposit hereunder. The
Deposit shall be held in Escrow and applied or disposed of by Escrow Agent as provided herein.
Escrow Agent shall place the Deposit in an interest-bearing account approved by the
PURCHASER and the CITY and all interest earned thereon shall be added to and become a part of
the Deposit.
5. PURCHASER'S RIGHT OF ENTRY. The PURCHASER, and its agents and consultants,
at the PURCHASER'S sole expense and risk, may enter the Parcels during the term of this
Agreement at reasonable times scheduled in advance with the CITY for the purpose of the
PURCHASER'S due diligence study of the Parcels. The PURCHASER shall (a) exercise care at
all times on or about the Parcels, and (b) take precautions for the prevention of injury to persons or
Page 2
damage to property on or about the Parcels. The PURCHASER shall keep the Parcels free from all
mechanics', materialmen's and other liens, and all claims thereof, arising from any work or labor
done, services performed, or materials and supplies furnished in connection with PURCHASER'S
actions in the exercise of its right of entry on the Parcels, and the PURCHASER shall indemnify
and defend the CITY against and hold the CITY harmless from all such liens and claims. If this
transaction fails to close for any reason other than a default by the CITY hereunder, the
PURCHASER shall furnish the CITY with a copy of all such inspections, studies and surveys and
shall assign or quitclaim all of the PURCHASER'S right, title and interest in and to any permits,
approvals, or permit or approval applications. The PURCHASER's obligations under this Section
18 shall survive the termination of the Agreement, the Closing and the recording of the Deed.
6. CLOSING.
6.1 Location and Date. The PURCHASER'S property acquisition transactions shall be
closed in the office of Escrow Agent on the Closing Date. The PURCHASER and the CITY shall
deposit in Escrow with Escrow Agent all instruments, documents and monies necessary to
complete the sales in accordance with this Agreement. Funds held in reserve accounts pursuant to
escrow instructions shall be deemed, for purposes of this definition, as available for disbursement
to the Parties.
6.2 Closing Costs.
6.2.1 City Costs. The CITY shall pay the cost of the Title Policy (including
extended coverage), any State documentary stamps (Revenue Stamps) which are required to be
affixed to the instrument of conveyance, any taxes on the conveyance of real property (Real Estate
Excise Tax), and any recording fees.
6.2.2 Purchaser Costs. The PURCHASER shall pay the cost for any survey
required for issuance of the Title Policy, any endorsements to the Title Policy (other than for
extended coverage) and the cost of its due diligence.
6.2.3 Other Costs. The PURCHASER and the CITY shall each pay their own
legal fees and fees of their respective consultants. All other costs and expenses shall be allocated
between the PURCHASER and the CITY in accordance with the customary practice in King
County, Washington.
6.3 Real Property Taxation. The parties acknowledge that the Parcels will be subject
to real property taxation after the date of the Closing and that all Real Estate taxes for the year of
the Closing shall be prorated as of the date of Closing. All Real Estate taxes accruing after the date
of Closing shall be the obligation of the PURCHASER.
6.4 City Closing Documents. At Closing, the CITY shall deliver to Escrow Agent the
following instruments and documents:
6.4.1 The executed and acknowledged Deed for the Parcels, in a form acceptable
to the PURCHASER, conveying the Parcels to the PURCHASER;
6.4.2 The executed real estate excise tax affidavit to accompany the Deed;
6.4.3 An executed non-foreign person affidavit in the form required under
Section 1445 of the Internal Revenue Code;
Page 3
6.4.4 The executed and acknowledged Lease Agreement, in the form agreed to
by each of the Parties, in their sole discretion (the "Lease Agreement");
6.4.5 The executed and acknowledged Parking Garage Agreement (as defined in
the Lease Agreement), in the form agreed to by each of the Parties, in their sole discretion;
6.4.6 The executed and acknowledged SNDA (as defined in the Lease
Agreement), in the form agreed to by each of the Parties, in their sole discretion;
6.4.7 The executed and acknowledged the Memorandum of Lease with Option
to Purchase and Right of Repurchase, in the form agreed to by each of the Parties, in their sole
discretion; and
6.4.8 An executed closing statement consistent with this Agreement.
6.5. Purchaser Closing Documents. At Closing, the PURCHASER shall deliver to
Escrow Agent the following instruments, documents and funds:
6.5.1 The executed real estate excise tax affidavit to accompany the Deed;
6.5.2 The executed and acknowledged Lease Agreement, in the form agreed to
by each of the Parties, in their sole discretion (the "Lease Agreement");
6.5.3 The executed and acknowledged Parking Garage Agreement (as defined in
the Lease Agreement), in the form agreed to by each of the Parties, in their sole discretion;
6.5.4 The executed and acknowledged SNDA (as defined in the Lease
Agreement), in the form agreed to by each of the Parties, in their sole discretion;
6.5.5 The executed and acknowledged the Memorandum of Lease with Option
to Purchase and Right of Repurchase, in the form agreed to by each of the Parties, in their sole
discretion;
6.5.6 The executed and acknowledged Mel's Plus Parking Agreement (as
defined in the Lease Agreement), in the form agreed to by each of the Parties, in their sole
discretion;
6.5.7 An executed closing statement consistent with this Agreement;
6.5.8 The balance of the Purchase Price in accordance with Section 3 and
Section 4; and
6.5.9 The PURCHASER'S costs and expenses as determined in accordance with
Section 6.2.
6.6 Possession. The PURCHASER shall be entitled to possession of the Parcels upon
Closing, subject to the Permitted Exceptions.
7. TITLE INSURANCE; TITLE. As soon as available after Closing, the CITY shall provide
to the PURCHASER the Title Policy, dated as of the Closing Date, subject only to the Permitted
Page 4
Exceptions. The PURCHASER shall take title to the Parcels subject only to: zoning, restrictions,
prohibitions and other requirements imposed by governmental authority; taxes and assessments
(general and special), matters that would be disclosed by a survey of the Parcels, and the Permitted
Exceptions. Any financial encumbrances, liens and security interests on the Parcels shall be
satisfied by the CITY prior to Closing, so that the title to the Parcels when conveyed shall be free
and clear of any said financial encumbrances, liens and/or security interests (other than taxes and
assessments). If title cannot be made so insurable prior to Closing Date the Deposit shall, unless
the PURCHASER elects to waive such defects or encumbrances, be refunded to the PURCHASER,
less any unpaid costs, and this Agreement shall thereupon be terminated (except PURCHASER's
obligations under Section 5 above, which obligations shall survive termination of this Agreement).
8. CONDITIONS TO CLOSING; CONTINGENCIES.
8.1 Purchaser's Contingencies. The PURCHASER'S obligation to Close hereunder is
expressly subject to satisfaction or waiver in writing by the PURCHASER, in its sole judgment and
discretion, of each of the following conditions (the "Purchaser's Contingencies"):
8.1.1 Acquisition by the PURCHASER of the Additional Property from its
current owners.
8.1.2 Receipt by the PURCHASER of all building permits and similar approvals
to construction the Project from all governmental agencies having jurisdiction (the "Required
Permits").
8.1.3 Receipt by the PURCHASER of a construction loan commitment for
construction of the Project, satisfactory to the PURCHASER, in its sole discretion.
8.1.4 The CITY shall have performed its obligations hereunder and all deliveries
to be made by the CITY at Closing have been tendered.
8.2 City's Contingencies. The CITY'S obligation to Close hereunder is expressly
subject to satisfaction or waiver in writing by the CITY, in its sole judgment and discretion, of each
of the following conditions (the "City's Contingencies"):
8.2.1 Acquisition by the PURCHASER of the Additional Property from its
current owners.
8.2.2 Receipt by the PURCHASER of the Required Permits.
8.2.3 Receipt by the PURCHASER of a construction loan commitment for
construction of the Project, satisfactory to the CITY, in its sole discretion.
8.2.4 Approval of this Agreement, the other closing documents and the
transaction represented hereby by the City Council of the CITY.
8.2.5 The CITY's receipt of a statement, made under penalty of perjury, from
PURCHASER and its Washington licensed general contractor that they have executed a contract
for the construction of the mixed-use condominium project described in the Lease.
8.2.6 The PURCHASER shall have performed its obligations hereunder and all
deliveries to be made by the CITY at Closing have been tendered.
Page 5
8.3 Failure of Contingencies. So long as a party is not in default hereunder, if any
contingency to such party's obligation to proceed with the Closing has not been satisfied as of the
Closing Date, such party may, in its sole discretion, (i) terminate this Agreement, by delivering
written notice to the other party on or before the Closing Date (in which event the Deposit shall be
refunded to the PURCHASER, less any unpaid costs, and this Agreement shall thereupon be
terminated except for the PURCHASER's obligations under Section 5 above, which obligations
shall survive termination of this Agreement), or (ii) elect on or before the Closing Date to close,
notwithstanding the non-satisfaction of such contingency, in which event such party shall be
deemed to have waived any such contingency. Any failure to timely elect to proceed under clauses
(i) or (ii) above, shall be deemed an election to proceed under clause (i) above.
9. REPRESENTATIONS AND WARRANTIES. The CITY makes no representations or
warranties, express or implied, concerning the condition of the Parcels. The PURCHASER is
familiar with the Parcels and expressly agrees to accept them "AS IS, WITH ALL FAULTS,
EASEMENTS, and RESTRICTIONS." The PURCHASER shall be responsible for demolition of
structures, relocation of utilities, removal of hazardous materials, or any other cost associated with
ownership or development of the Parcels.
10. MAINTENANCE OF PROPERTY. From the date of this Agreement until the Closing
Date (or any earlier termination of this Agreement), the CITY agrees to maintain the Parcels in
substantially the same condition existing as of the date hereof, excepting for ordinary wear and
tear, and damage by casualty.
11. TIME: Time is of the essence for this Agreement. Any reference herein to time periods of
less than six (6) days shall in the computation thereof, exclude Saturdays, Sundays and legal
holidays, and any time period provided for herein which shall end on a Saturday, Sunday or legal
holiday shall extend to 5:00 p.m. of the next business day.
12. NOTICES. All notices, demands and other communications required or permitted to be
given hereunder shall be in writing, and shall be sent by personal delivery (including by means of
professional messenger or courier service) or registered or certified mail, postage-prepaid, return-
receipt requested. Notice shall be deemed to have been given if personally delivered, upon receipt,
and if sent by mail, two (2) days after duly deposited in the U.S. Mail. The parties' respective
addresses for notices are as follows:
To the PURCHASER:
Auburn Professional Plaza, LLC
c/o Michael John Klein, Esq.
5743 Corsa Avenue, Suite 216
Westlake Village, California 91362
with concurrent copies to:
Auburn Professional Plaza, LLC
P.O. Box 1294
Auburn, Washington 98071-1294
Attention: Jeffrey Oliphant, President
Page 6
and to:
Anthony Rafel, Esq.
Rafel Law Group, PLLC
999 Third Avenue, Suite 1600
Seattle, Washington 98104
To the CITY:
City of Auburn
25 West Main Street
Auburn, Washington 98001-4998
Attention: Mayor
with concurrent copies to:
City of Auburn
25 West Main Street
Auburn, Washington 98001-4998
Attention: City Attorney
or to such other. and additional addresses as either party may from time to time designate for this
purpose; Provided that notice of change of address shall be given by written notice in the manner
detailed in this Section 12.
13. GENERAL. This Agreement and the documents delivered at Closing set forth the entire
agreement of the PURCHASER and the CITY with respect to the matters covered hereby and
supersedes all prior agreements between them, written or oral. This Agreement may be modified
only in writing, signed by the PURCHASER and the CITY. Any waivers hereunder must be in
writing. No waiver of any right or remedy in the event of default hereunder shall constitute a
waiver of such right or remedy in the event of any subsequent default. This Agreement shall be
governed by the laws of the State of Washington. This Agreement is for the benefit only of the
parties hereto and shall inure to the benefit of and bind the heirs, personal representatives,
successors and permitted assigns of the parties hereto. The invalidity or unenforceability of any
provision of this Agreement shall not affect the validity or enforceability of any other provision
hereof. This Agreement may be executed in counterparts, each of which shall be deemed an
original, but all of which together shall constitute one and the same instrument.
14. COMMISSIONS. The CITY represents to the PURCHASER that the CITY has engaged
no broker, agent or finder in connection with the negotiations leading to this Agreement. The
PURCHASER represents to the CITY that the PURCHASER has not engaged or in any way dealt
with any broker, agent or finder in connection with the negotiations leading to this Agreement.
Each party hereby agrees to indemnify, defend and hold the other party harmless from and against
any claims for broker's, agent's, or finder's fees or commissions arising from or through the
actions of the indemnifying party. PURCHASER hereby discloses to CITY that the president of
PURCHASER (who is also the principal officer of PURCHASER'S manager) is the designated
broker of a Washington licensed real estate broker that is not part of this transaction.
15. ASSIGNMENT. Neither Party may assign its interest in this Agreement in whole or in part
with out the prior written consent of the other Party, in the other Party's sole discretion, provided
that in the event of any assignment or transfer of rights hereunder, the provisions of this Agreement
Page 7
shall be binding on the heirs, successors and assigns of the Parties, respectively. No assignment
shall relieve the originally-named PURCHASER of any liability hereunder unless a written release
is provided by the CITY.
16. ATTORNEYS' FEES. In the event suit or action is instituted to interpret or enforce the
terms of this Agreement, the prevailing party therein shall be entitled to recover from the other
party such sum as the court may adjudge reasonable as attorneys' fees, including fees incurred at
trial, on any appeal and in any petition for review.
17. EXCLUSIVITY. During the term of this Agreement the CITY shall not market nor list the
Parcels for sale, nor accept any offers from third parties with respect to sale of the Parcels.
18. RIGHT TO REPURCHASE. The PURCHASER shall use commercially reasonable
efforts to commence construction of the Project (as evidenced by completion of excavation and
shoring and the pouring of foundations) within eighteen (18) months after the Closing Date (the
"Outside Construction Commencement Date"). The PURCHASER agrees that in the event (1) the
PURCHASER fails to commence construction of the Project by the Outside Construction
Commencement Date for any reason or (2) the CITY elects to terminate the Lease Agreement
under subsection 29.3 of the Lease Agreement, the CITY shall have the right, in the CITY's
discretion, at anytime thereafter, to purchase the Parcels (the "Right to Repurchase") for the
Purchase Price without reimbursement for any hard or soft costs incurred by the PURCHASER in
connection with the development of the Parcels or the Additional Parcels, which Right to
Repurchase must be exercised by written notice delivered to the PURCHASER after the Outside
Construction Commencement Date and before the PURCHASER commences construction, or, in
the event the CITY elects to terminate the Lease Agreement under subsection 29.3 of the Lease
Agreement, within thirty (30) days of the CITY electing to terminate the Lease Agreement under
subsection 29.3 of the Lease Agreement; provided, in any event, the Right to Repurchase must be
exercised by the CITY with five (5) years after the Closing Date. The CITY may direct the
PURCHASER to convey title directly to the CITY or directly to any third party or other designee.
The PURCHASER shall pay all excise taxes in connection with such transfer. Utilities costs will
be prorated as of the date of repurchase. Real estate taxes and assessments will be prorated as of
the date of repurchase. The deed and other documents will be in substantially the same form as
used to convey the Parcels to the PURCHASER. No additional encumbrances shall exist on title to
the Parcel other than the Permitted Exceptions or those that were approved in writing by the CITY.
The PURCHASER shall be responsible, at its cost, for removing any such additional encumbrances
on title and, if requested by the CITY, terminating the Condominium Documents (as defined in the
Lease Agreement). In addition, as part of the repurchase of the Parcels, the PURCHASER shall (i)
assign to the CITY (or its designee), without representation or warranty and without additional
compensation, all of its right, title and interest in and to all permits, licenses, approvals, plans,
studies, condominium documents, and other similar documents and materials associated with the
Project and (ii) execute and deliver such other documents, certificates and instruments reasonably
necessary in order to effectuate the repurchase described herein or otherwise customarily delivered
in connection with the conveyance of property in King County, Washington. The PURCHASER's
obligations under this Section 18 shall survive the Closing and the recording of the Deed.
19. RESERVATION OF POLICE POWER. Notwithstanding anything to the contrary set
forth herein, the PURCHASER understands and acknowledges that the CITY'S authority to
exercise its police (regulatory) powers in accordance with applicable law shall not be deemed
limited by the provisions of this Agreement.
20. EXHIBITS. Exhibits and attached hereto are incorporated herein as if fully set forth.
Page 8
This Real Estate Purchase And Sale Agreement signed in duplicate original effective as of
the date first above written.
CITY OF AUBURN AUBURN PROFESSIONAL PLAZA, LLC
a Washington limited liability company
Peter B. Lewis, Mayor
By:
Jeffrey Oliphant, President of its Manager
Attest:
Danielle Daskam, City Clerk
Approved as to form:
9/z?- j 41-1 -
Daniel . Heid, Auburn it/Attorney
EXHIBITS
Exhibit A, Legal Description of Parcels
Exhibit B, Depiction of Parcels
Exhibit C, Legal Description of Additional Parcels
Exhibit D, Permitted Exceptions
Page 9
EXHIBIT A
The following real property, all of which is situated in the City of Auburn, King County,
Washington:
PARCEL A:
Lots 5 and 6, Block O, L.W. Ballard's Park Addition to Slaughter, according to the plat thereof
recorded in Volume 3 of Plats, page 91, in King County, Washington.
PARCEL C:
Lot 4, Block O, First Addition to the Town of Slaughter, according to the plat thereof recorded in
Volume 2 of Plats, page 84, in King County, Washington;
EXCEPT that portion conveyed to Yale Investment Company, a corporation, by deed recorded
under Recording Number 2601863, in King County, Washington, more particularly described as
follows:
Beginning at the southeast corner of said lot;
Thence northerly along the east line of said lot to the northeast corner of said lot;
Thence west along the north line of said lot, 16.75 feet to a point in the center line of a concrete
wall;
Thence south along the center line of said concrete wall, to a point in the south line of said lot,
which is 16.53 feet west of the point of beginning;
Thence east along south line of said lot, 16.53 feet to the point of beginning.
PARCEL D:
That portion of Lot 4, Block O, First Addition to the Town of Slaughter, according to the plat
thereof recorded in Volume 2 of Plats, page 84, in King County, Washington, more particularly
described as follows:
Beginning at the southeast corner of said lot;
Thence northerly along the east line of said lot to the northeast corner of said lot;
Thence west along the north line of said lot, 16.75 feet to a point in the center line of a concrete
wall;
Thence south along the center line of said concrete wall, to a point in the south line of said lot,
which is 16.53 feet west of the point of beginning;
Thence east along south line of said lot, 16.53 feet to the point of beginning.
Exhibit A
Page 1 of 2
PARCEL E:
The west half of Lot 3, Block O, First Addition to the Town of Slaughter, according to the plat
thereof recorded in Volume 2 of Plats, page 84, in King County, Washington.
PARCEL F:
The east half of Lot 3, Block O, First Addition to the Town of Slaughter, according to the plat
thereof recorded in Volume 2 of Plats, page 84, in King County, Washington.
Exhibit A
Page 2 of 2
EXHIBIT B
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Exhibit B
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Page 1 of I
EXHIBIT C
The Premises consists of the following real property, all of which is situated in the City of Auburn,
King County, Washington:
PARCEL B:
Lot 7, Block O, L.W. Ballard's Park Addition to Slaughter, according to the plat thereof recorded in
Volume 3 of Plats, page 91, in King County, Washington.
PARCEL G:
The west half of Lot 2, Block O, First Addition to the Town of Slaughter, according to the plat
thereof recorded in Volume 2 of Plats, page 84, in King County, Washington.
PARCEL H:
The east half of Lot 2, Block O, First Addition to the Town of Slaughter, according to the plat
thereof recorded in Volume 2 of Plats, page 84, in King County, Washington.
PARCEL I:
Lot 1, Block O, First Addition to the Town of Slaughter, also land lying easterly of said lot
between said lot and Auburn Avenue and north of Main Street and south of the public alley
extending east
and west on the north of said Block O, being more particularly described as follows:
Beginning at the southwest corner on said Lot 1, Block O, and running easterly along the south line
of said lot extended along the northerly line of Main Street to the intersection of said northerly line
of Main Street with the west line of Auburn Avenue;
Thence northeasterly along the west line of Auburn Avenue to the intersection of said west line of
Auburn Avenue with the southerly line of the above mentioned alley;
Thence westerly along the south line of said alley to the northwest corner of said Lot 1;
Thence southerly along the westerly line of said Lot 1 to the point of beginning
Exhibit C
Page 1 of 1
EXHIBIT D
50930529.2
Permitted Exceptions
((Pending Title Policy)
Exhibit D
Page 1 of 1