HomeMy WebLinkAbout4050
RESOLUTION NO.4 0 5 0
A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF
AUBURN, WASHINGTON, AUTHORIZING THE MAYOR AND
CITY CLERK TO EXECUTE AN AGREEMENT BETWEEN THE
CITY OF AUBURN AND BRUCE D. ALVERSON AND JILL V.
ALVERSON
WHEREAS, Bruce D. Alverson and Jill V. Alverson, are the owners of
certain real property located in the City of Auburn commonly known as the
corner of 2nd Street SW and "A" Street SW, Auburn, Washington; and
WHEREAS, Bruce D. Alverson and Jill V. Alverson, desire to sell this
property to the City of Auburn and the City of Auburn desires to purchase this
property; and
WHEREAS, the City of Auburn and Bruce D. Alverson and Jill V.
Alverson have negotiated an agreement which would be beneficial to both
parties 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 Bruce D. Alverson and Jill V. Alverson which agreement
shall be in substantial conformity with the Agreement a copy of which is
Resolution No. 4050
June 19, 2006
Page 1
attached hereto, marked as Exhibit "A" and incorporated herein by this
reference.
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 affect upon
passage and signatures hereon.
f-1
DATED and SIGNED this 11~ day of
2006.
PETER B. LEWIS
Mayor
Attest:
~~
Danielle E. Daskam
City Clerk
aniel B. Heid
City Attorney
Resolution No. 4050
June 19, 2006
Page 2
REAL ESTATE PURCHASE AND SALE
AGREEMENT
This Agreement is entered into on May 16, 2006 between BRUCE D. ALVERSON and
JILL V. ALVERSON, husband and wife, as "Seller" and the City of Auburn, a municipal
corporation, as "Buyer." The Buyer agrees to buy and Seller agrees to sell, on the following terms,
the property commonly known as corner of 2nd StreetSW & "A" Street SW, King County,
Washington 98002, and legally described as follows and all rights appurtenant thereto and all
improvements thereon:
LOTS 5, 6, 7 AND 8, BLOCK 5, TOWN OF SLAUGHTER, ACCORDING TO
THE PLAT THEREOF RECORDED IN VOLUME 2 OF PLATS, PAGE 56,
RECORDS OF KING COUNTY, WASHINGTON; TOGETHER WITH THAT
PART OF THE VACATED RIGHT-OF-WAY ATTACHING TO SAID
PROPERTY, VACATED BY CITY OF AUBURN ORDINANCE NO. 5842,
ADOPTED JUNE 7, 2004, V ACA TING THE FOLLOWING DESCRIBED RIGHT-
OF-WAY;
THAT PORTION OF THE NORTHEAST QUARTER OF THE SOUTHEAST
QUARTER OF SECTION 13, TOWNSHIP 21 NORTH, RANGE 4 EAST, W.M.,
IN KING COUNTY, WASHINGTON, BEING MORE PARTICULARLY
DESCRIBED AS FOLLOWS:
BEGINNING AT THE SOUTHEAST CORNER OF LOT 1, BOCK 5, TOWN OF
SLAUGHTER, ACCORDING TO THE PLAT THEREOF RECORDED IN
VOLUME 2 OF PLA TS, PAGE 56, RECORDS OF KING COUNTY,
WASHINGTON;
THENCE NORTH 89004'39" WEST ALONG THE SOUTH LINE OF LOTS 1
THROUGH 4 OF SAID BLOCK 5 A DISTANCE OF 240.31 FEET (240 FEET
PLAT) TO THE SOUTHWEST CORNER OF SAID LOT 4;
THENCE SOUTH 0056'42" WEST A DISTANCE OF 20.00 FEET TO THE
NORTHWEST CORNER OF LOT 5 OF SAID BLOCK 5;
THENCE SOUTH 89004'39" EAST ALONG THE NORTH LINE OF LOTS 5
THROUGH 8 OF SAID BLOCK 5 A DISTANCE OF 240.32 FEET (240 FEET
PLAT) TO THE NORTHEAST CORNER OF SAID LOT 8;
THENCE NORTH 0056'07" EAST A DISTANCE OF 20.00 FEET TO THE
SOUTHEAST CORNER OF SAID LOT I BEING THE POINT OF BEGINNING;
SITUATE IN THE CITY OF AUBURN, COUNTY OF KING, STATE OF
WASHINGTON.
Tax Parcel Nos. 7815700250, 7815700255 & 7815700260.
~ ' !)-If.o -O~
ppn,",TT A C'D A un C' AT D ^ nDDOll.,o:r1\J'T' - 1 ~ S- J (p -C> c.,
EXHIBIT A I 0 ~ S-
...
(Buyer and Seller authorize the Closing Agent to insert or correct, over their signatures, the legal
description of the property.)
AGREEMENT SUBJECT TO CITY COUNCIL APPROVAL. This Agreement,
and the Buyer's obligations hereunder, are subject to approval by the Auburn City Council, which
approval shall be conveyed to the Seller not later than June 20, 2006. If not approved by the City
Council, any Earnest Money paid shall be refunded to the Buyer.
PURCHASE PRICE. The purchase price is One Million Three Hundred Eighty-
Seven Thousand Six Hundred Fifty U.S. Dollars ($1,387,650.00 U.S.), including any earnest money
deposit required pursuant to this Agreement.
PAYMENT. All cash at the time of closing.
SECTION 1031 LIKE-KIND EXCHANGE. The Seller intends for this transaction to be
a part of a Section 1031 like-kind exchange. The Buyer agrees to cooperate in the completion of the
like-kind exchange so long as the Buyer incurs no additional liability in doing so, and so long as any
expenses (including attorneys fees and costs) incurred by the Buyer that are related only to the
exchange are paid or reimbursed to the Buyer at or prior to closing.
BUYER PURCHASES "AS IS"/SELLER'S DISCLAIMER OF WARRANTIES.
Buyer is purchasing the property "as is". Seller is making no representations or warranties, express
or implied, as to the suitability of the property for Buyers intended use, the condition of the property
or the existence of any hazardous substances or materials, as may be defined by any state or federal
laws, on or below the property. Buyer should make all inquiries necessary to determine prior to
closing that the property can be developed and the costs to do the same for Buyer's intended use
including, but not limited to, the availability of utilities and the ability to acquire a building permit.
CLOSING OF SALE. The closing agent shall be SCHNEIDER, GIBSON & JARVEY,
INC.,P.S. This Agreem. ents.hallbec~ .0. nJu.ne2~'.20060rsq?!!.e~w. / greementoftheparties.
.ne...30 I ~ ~ pr J
POSSESSION AND ACCES . The Buyer shall be entitle t. possession on closing.
"Closing" means the date on which all documents are recorded and the sale proceeds are available
to Seller. The Buyer shall be allowed access to the property prior to closing in order. to facilitate
satisfaction of any condition of this Agreement and the Buyer shall indemnifY and hold the Seller
harmless from any injuries, damages, liabilities, claims, liens and other matters arising from any of
Buyer's pre-closing activities on the property. This hold harmless and indemnity provision shall
survive closing or any earlier termination of this Agreement and is in addition to any other remedies
provided for herein, including liquidated damages.
CONDITION OF TITLE. Unless otherwise specified in thi8 Agreement, title to the
property shall be marketable at closing. The following shall not cause the title to be unmarketable:
rights, reservations, covenants, conditions and restrictions presently of record and general to the area;
PURCHASE AND SALE AGREEMENT - 2
{hr-
~.
~
5"-{(P - 0 ~
~ -' IlP - oCe.
o -S-. ~
easements and encroachments not materially affecting the value of or unduly interfering with Buyer's
intended use of the property; and reserved oil and/or mining rights. Monetary encumbrances not
assumed by Buyer shall be paid by the Seller on or before closing.
TITLE INSURANCE. The Seller authorizes Closing Agent, at Seller's expense, to
apply for a standard form buyer's policy .of title insurance from Old Republic Title, Ltd. The
preliminary commitment therefor. and the title policy to be issued, shall contain no exceptions other
than the General Exclusions and Exceptions in said standard form and those acceptable pursuant to
the paragraph above entitled "Condition of Title." Iftitle cannot be made so insurable prior to the
closing date, the earnest money shall, unless Buyer elects to waive such defects or encumbrances,
be refunded to the Buyer less any unpaid costs and this Agreement shall thereupon be terminated.
Deed.
CONVEYANCING. Warranty Deed. Title shall be conveyed by a Statutory Warranty
PERFORMANCE. Time is of the essence of this Agreement.
ASSIGNMENT. The Buyer may not assign this Agreement, or Buyer's rights hereunder,
without Seller's prior written consent, which consent shall not be unreasonably withheld.
CLOSING COSTS AND PRORATION. Seller and Buyer shall each pay one-half of the
escrow fee. The Seller shall pay real estate excise tax and Buyer shall pay recording fees for the deed
and any financing instruments. Taxes for the current year shall be prorated as of closing. If any
payments are delinquent on encumbrances which will remain after closing, Closing Agent is
instructed to pay them at closing from money due, or to be paid by, Seller. Utilities shall be prorated
directly between the parties outside of closing.
NOTICES. Unless otherwise specified, any notice required or permitted in, or related to,
this Agreement must be in writing; signed by anyone Buyer or Seller (including either husband or
wife); and received by or at the office of the Closing Agent who for this limited purpose, shall be the
Agent of both parties. Any time limit in or applicable to a notice shall commence on the day
following receipt ofthe notice by the Closing Agent, unless that is a Saturday, Sunday or holiday,
in which event it will commence on the next following business day. SELLER AND BUYER
MUST KEEP CLOSING AGENT ADVISED OF THEIR WHEREABOUTS TO RECEIVE
PROMPT NOTIFICATION OF RECEIPT OF A NOTICE. CLOSING AGENT HAS NO
RESPONSIBILITY TO ADVISE OF RECEIPT OF A NOTICE BEYOND EITHER PHONING
THE PARTY OR CAUSING A COPY OF THE NOTICE TO BE MAILED TO THE PARTY'S
ADDRESS ON THIS AGREEMENT.
FACSIMILE TRANSMISSION. Facsimile transmission of any signed original document,
and retransmission of any signed facsimile, shall be the same as delivery of an original. At the
request of either party, or the Closing Agent, the parties will confirm facsimile transmitted signatures
by signing an original document.
PURCHASE AND SALE AGREEMENT - 3
/;p
~V~
3
s- -( & -0 Co
~-)(P-o~
o -5-- S--
BUYER'S FUNDS TO CLOSE. The Buyer represents that Buyer has sufficient funds to
close this sale in accordance with this Agreement, and is not relying on any contingent source of
funds or gifts unless expressly set forth elsewhere in this Agreement.
EARNEST MONEY DEPOSIT. The Buyer agrees to pay herewith Ten Thousand Dollars
($10,000.00) in the form ofa City of Auburn check, to be held by Closing Agent in Closing Agent's
pooled trust account (with interest paid to The Legal Foundation of Washington).
BROKERS. No brokers have been engaged by either party except as disclosed in this
Agreement. If a claim for a commission is made based on alleged arrangements or agreements' by
either party that Was not disclosed in this Agreement, the party allegedly making such arrangements
or agreements shall indemnity and hold the other party and Closing Agent harmless from any such
claim, including without limitation, any legal fees and costs in connection with defending against
such claim.
CASUALTY LOSS AND CONDEMNATION. The risk of the condemnation of or
casualty loss to any of the property shall be borne by the Seller until the date of closing or until the
Buyer takes possession of the property, whichever date is earlier. The Buyer shall have the option
to either terminate the transaction or proceed with the closing and take an assignment of any
condemnation and/or insurance proceeds. The Buyer is only entitled to resort to this option in the
event of a casualty loss if the Seller fails to restore the property to its previous condition within the
time permitted for closing.
SURVIVAL AFTER CLOSING. The terms, covenants, representations and warranties
contained in this Agreement shall not merge in the deed of conveyance, but shall survive closing.
SUCCESSOR AND ASSIGNS. Subject to any restrictions against assignment, the
provisions ofthis Agreement shall be binding on the heirs, successors and assigns of the Seller and
the Buyer.
APPLICABLE LAW. This Agreement shall be governed and interpreted in accordance
with the laws of the State of Washington and the venue of any action brought to interpret or enforce
any provisions of this Agreement shall be in the county where the property is situated.
ENTIRE AGREEMENT. ThisAgreement constitutes the entire agreement ofthe parties
and supersedes all prior agreements and understandings written and oral. This Agreement may be
amended only in writing executed by Seller and Buyer.
ATTORNEY'S FEES AND COSTS. In the event of any suit or action is instituted
concerning this Agreement, the prevailing party is entitled to recover reasonable attorney's fees and
costs incurred in such suit or proceeding.
DEFAULT. In the event Buyer fails, without legal excuse, to complete the purchase of the
PURCHASEANDSALEAGREEMENT-4
/!:;P
~~
S--l~--O "
S-/{p. D~
tf. ~.f- S--
property, then Seller may, at its option, bring suit against Buyer for Sellers actual damages, or pursue
any other rights or remedies available at law or in equity. In the event Seller fails, without legal
excuse, to complete the sale of the property, then Buyer may, at its option, bring suit against the
Sellers, for specific performance of the property sale transaction, and for its actual damages, or for
any other rights or remedies available at law or in equity.
THIS AGREEMENT HAS BEEN PREPARED BY SCHNEIDER, GIBSON & JARVEY, INC. P.S.
ACTING AS ATTORNEYS FOR SELLER. BUYER IS SPECIFICALLY ADVISED THAT THIS
AGREEMENT SHOULD BE SUBMITTED TO BUYER'S ATTORNEY AND TAX SPECIALIST
FOR THEIR REVIEW AND APPROVAL PRIOR TO SIGNING THIS AGREEMENT. NO
REPRESENTATIONS OR WARRANTIES ARE MADE TO BUYER AS TO THE LEGAL
SUFFICIENCY, LEGAL EFFECT OR TAX CONSEQUENCES OF THIS AGREEMENT, THE
TRANSACTION DESCRIBED HEREIN, OR ANY A TT ACHMENTS TO THIS AGREEMENT.
AGREEMENT TO SELL AND TIME LIMIT FOR ACCEPTANCE. The Seller offers
to sell the property on the above terms and conditions. The Buyer has until midnight of May 26,
2006 to accept this offer (if not filled in, the day following the last Seller signature date below.)
Acceptance is not effective until a signed copy hereof along with any earnest money is actually
received by oy~ the office of Closing Agent. If this offer is not so accepted, it shall lapse.
SELLER: I~ Dc ~ DATED S-~/(., -0 <a
SELLER:d'u II ~b[1DvQ - DATED S-/{g -0&
SELLER'S PHONE: Cell: (253) 307-026~
Work: (253) 939-5225
SELLER'S ADDRESS: 328 SW 292nd
Federal Way, W A 98023
BUYER'S ACCEPTANCE. The Buyer agrees to purchase the property on the terms and
conditions herein.
CITY
--
5, .)CZ
By:
Peter B. Lewis, Mayor
L" =#
DATED
-
BUYER'S PHONE: Office: (253) 931-3008
BUYER'S ADDRESS: Auburn City Hall
25 West Main Street
Auburn, W A 98001
f!pr- ~-I 0:, -cJ ~
-1tJ ~ 5~)fo - O~
s-oIs-
PURCHASE AND SALE AGREEMENT - 5
.......
..
REAL EST A TE PURCHASE AND SALE
AGREEMENT
This Agreement is entered into on May 16,2006 between BRUCE D. ALVERSON and
JILL V. ALVERSON, husband and wife, as "Seller" and the City of Auburn, a municipal
corporation, as "Buyer." The Buyer agrees to buy and Seller agrees to sell, on the following terms,
the property commonly known as corner of 2nd Street SW & "A" Street SW, King County,
Washington 98002, and legally described as follows and all rights appurtenant thereto and all
improvements thereon:
LOTS 5, 6, 7 AND 8, BLOCK 5, TOWN OF SLAUGHTER, ACCORDING TO
THE PLAT THEREOF RECORDED IN VOLUME 2 OF PLATS, PAGE 56,
RECORDS OF KING COUNTY, WASHINGTON; TOGETHER WITH THAT
PART OF THE VACATED RIGHT-OF-WAY ATTACHING TO SAID
PROPERTY, VACATED BY CITY OF AUBURN ORDINANCE NO. 5842,
ADOPTED JUNE 7,2004, V ACA TING THE FOLLOWING DESCRIBED RIGHT-
OF-WAY;
THAT PORTION OF THE NORTHEAST QUARTER OF THE SOUTHEAST
QUARTER OF SECTION 13, TOWNSHIP 21 NORTH, RANGE 4 EAST, W.M.,
IN KING COUNTY, WASHINGTON, BEING MORE PARTICULARLY
DESCRIBED AS FOLLOWS:
BEGINNING AT THE SOUTHEAST CORNER OF LOT 1, BOCK 5, TOWN OF
SLAUGHTER, ACCORDING TO THE PLAT THEREOF RECORDED IN
VOLUME 2 OF PLATS, PAGE 56, RECORDS OF KING COUNTY,
WASHINGTON;
THENCE NORTH 89004'39" WEST ALONG THE SOUTH LINE OF LOTS 1
THROUGH 4 OF SAID BLOCK 5 A DISTANCE OF 240.31 FEET (240 FEET
PLAT) TO THE SOUTHWEST CORNER OF SAID LOT 4;
THENCE SOUTH 0056'42" WEST A DISTANCE OF 20.00 FEET TO THE
NORTHWEST CORNER OF LOT 5 OF SAID BLOCK 5;
THENCE SOUTH 89004'39" EAST ALONG THE NORTH LINE OF LOTS 5
THROUGH 8 OF SAID BLOCK 5 A DISTANCE OF 240.32 FEET (240 FEET
PLAT) TO THE NORTHEAST CORNER OF SAID LOT 8;
THENCE NORTH 0056'07" EAST A DISTANCE OF 20.00 FEET TO THE
SOUTHEAST CORNER OF SAID LOT 1 BEING THE POINT OF BEGINNING;
SITUATE IN THE CITY OF AUBURN, COUNTY OF KING, STATE OF
WASHINGTON.
PURCHASE AND SALE AGREEMENT - 1
Tax Parcel Nos. 7815700250, 7815700255 & 7815700260.
~
lo~s-
S--If.o-o~
S- J (p -0<:"
"":
(Buyer and Seller authorize the Closing Agent to insert or correct, over their signatures, the legal
description of the property.)
AGREEMENT SUBJECT TO CITY COUNCIL APPROVAL. This Agreement,
and the Buyer's obligations hereunder, are subject to approval by the Auburn City Council, which
approval shall be conveyed to the Seller not later than June 20, 2006. If not approved by the City
Council, any Earnest Money paid shall be refunded to the Buyer.
PURCHASE PRICE. The purchase price is One Million Three Hundred Eighty-
Seven Thousand Six Hundred Fifty U.S. Dollars ($1,387,650.00 U.S.), including any earnest money
deposit required pursuant to this Agreement.
PAYMENT. All cash at the time of closing.
SECTION 1031 LIKE-KIND EXCHANGE. The Seller intends for this transaction to be
a part of a Section 1 031 like-kind exchange. The Buyer agrees to cooperate in the completion of the
like-kind exchange so long as the Buyer incurs no additional liability in doing so, and so long as any
expenses (including attorneys fees and costs) incurred by the Buyer that are related only to the
exchange are paid or reimbursed to the Buyer at or prior to closing.
BUYER PURCHASES "AS IS"/SELLER'S DISCLAIMER OF WARRANTIES.
Buyer is purchasing the property "as is". Seller is making no representations or warranties, express
or implied, as to the suitability of the property for Buyers intended use, the condition ofthe property
or the existence of any hazardous substances or materials, as may be defined by any state or federal
laws, on or below the property. Buyer should make all inquiries necessary to determine prior to
closing that the property can be developed and the costs to do the same for Buyer's intended use
including, but not limited to, the ,lvailability of utilities and the ability to acquire a building permit.
CLOSING OF SALE. The closing agent shall be SCHNEIDER, GIBSON & JARVEY,
INC., P.S. This Agreement shall be c~on J.une 23, 2006 ~r SOlO.!!. nee0lr y~greement of the parties.
11e....30 I 2-CId (p ~.
POSSESSION AND ACCES . The Buyer shall be entitl~t possession on closing.
"Closing" means the date on which all documents are recorded and the sale proceeds are available
to Seller. The Buyer shall be allowed access to the property prior to closing in order to facilitate
satisfaction of any condition of this Agreement and the Buyer shall indemnify and hold the Seller
harmless from any injuries, damages, liabilities, claims, liens and other matters arising from any of
Buyer's pre-closing activities on the property. This hold harmless and indemnity provision shall
survive closing or any earlier termination ofthis Agreement and is in addition to any other remedies
provided for herein, including liquidated damages.
CONDITION OF TITLE. Unless otherwise specified in this Agreement, title to the
property shall be marketable at closing. The following shall not cause the title to be unmarketable:
rights, reservations, covenants, conditions and restrictions presently of record and general to the area;
PURCHASE AND SALE AGREEMENT - 2
fAfr-'
3lPc-
~
c:; -{(p - 0 ~
~-'t(P-OCo
o -S- ~
easements and encroachments not materially affecting the value of or unduly interfering with Buyer's
intended use of the property; and reserved oil and/or mining rights. Monetary encumbrances not
assumed by Buyer shall be paid by the Seller on or before closing.
TITLE INSURANCE. The Seller authorizes Closing Agent, at Seller's expense, to
apply for a standard form buyer's policy of title insurance from Old Republic Title, Ltd. The
preliminary commitment therefor, and the title policy to be issued, shall contain no exceptions other
than the General Exclusions and Exceptions in said standard form and those acceptable pursuant to
the paragraph above entitled IICondition of Title." If title cannot be made so insurable prior to the
closing date, the earnest money shall, unless Buyer elects to waive such defects or encumbrances,
be refunded to the Buyer less any unpaid costs and this Agreement shall thereupon be terminated.
CONVEYANCING. Warranty Deed. Title shall be conveyed by a Statutory Warranty
Deed.
PERFORMANCE. Time is of the essence of this Agreement.
ASSIGNMENT. The Buyer may not assign this Agreement, or Buyer's rights hereunder,
without Seller's prior written consent, which consent shall not be unreasonably withheld.
CLOSING COSTS AND PRORATION. Seller and Buyer shall each pay one-half of the
escrow fee. The Seller shall pay real estate excise tax and Buyer shall pay recording fees for the deed
and any financing instruments. Taxes for the current year shall be prorated as of closing. If any
payments are delinquent on encumbrances which will remain after closing, Closing Agent is
instructed to pay them at closing from money due, or to be paid by, Seller. Utilities shall be prorated
directly between the parties outside of closing.
NOTICES. Unless otherwise specified, any notice required or permitted in, or related to,
this Agreement must be in writing; signed by anyone Buyer or Seller (including either husband or
wife); and received by or at the office of the Closing Agent who for this limited purpose, shall be the
Agent of both parties. Any time limit in or applicable to a notice shall commence on the day
following receipt of the notice by the Closing Agent, unless that is a Saturday, Sunday or holiday,
in which event it will commence on the next following business day. SELLER AND BUYER
MUST KEEP CLOSING AGENT ADVISED OF THEIR WHEREABOUTS TO RECEIVE
PROMPT NOTIFICATION OF RECEIPT OF A NOTICE. CLOSING AGENT HAS NO
RESPONSIBILITY TO ADVISE OF RECEIPT OF A NOTICE BEYOND EITHER PHONING
THE PARTY OR CAUSING A COpy OF THE NOTICE TO BE MAILED TO THE PARTY'S
ADDRESS ON THIS AGREEMENT.
FACSIMILE TRANSMISSION. Facsimile transmission of any signed original document,
and retransmission of any signed facsimile, shall be the same as delivery of an original. At the
request of either party, or the Closing Agent, the parties will confirm facsimile transmitted signatures
by signing an original document.
PURCHASE AND SALE AGREEMENT - 3
/;p-
~V~
3
s- -( &-0 G:::.
:)-){P-o(p
D -5- S--
BUYER'S FUNDS TO CLOSE. The Buyer represents that Buyer has sufficient funds to
close this sale in accordance with this Agreement, and is not relying on any contingent source of
funds or gifts unless expressly set forth elsewhere in this Agreement.
EARNEST MONEY DEPOSIT. The Buyer agrees to pay herewith Ten Thousand Dollars
($10,000.00) in the form of a City of Auburn check, to be held by Closing Agent in Closing Agent's
pooled trust account (with interest paid to The Legal Foundation of Washington).
BROKERS. No brokers have been engaged by either party except as disclosed in this
Agreement. If a claim for a commission is made based on alleged arrangements or agreements by
either party that was not disclosed in this Agreement, the party allegedly making such arrangements
or agreements shall indemnity and hold the other party and Closing Agent harmless from any such
claim, including without limitation, any legal fees and costs in connection with defending against
such claim.
CASUALTY LOSS AND CONDEMNATION. The risk of the condemnation of or
casualty loss to any of the property shall be borne by the Seller until the date of closing or until the
Buyer takes possession ofthe property, whichever date is earlier. The Buyer shall have the option
to either terminate the transaction or proceed with the closing and take an assignment of any
condemnation and/or insurance proceeds. The Buyer is only entitled to resort to this option in the
event of a casualty loss if the Seller fails to restore the property to its previous condition within the
time permitted for closing.
SURVIVAL AFTER CLOSING. The terms, covenants, representations and warranties
contained in this Agreement shall not merge in the deed of conveyance, but shall survive closing.
SUCCESSOR AND ASSIGNS. Subject to any restrictions against assignment, the
provisions ofthis Agreement shall be binding on the heirs, successors and assigns of the Seller and
the Buyer.
APPLICABLE LAW. This Agreement shall be governed and interpreted in accordance
with the laws of the State of Washington and the venue of any action brought to interpret or enforce
any provisions of this Agreement shall be in the county where the property is situated.
ENTIRE AGREEMENT. This Agreement constitutes the entire agreement of the parties
and supersedes all prior agreements and understandings written and oral. This Agreement may be
amended only in writing executed by Seller and Buyer.
ATTORNEY'S FEES AND COSTS. In the event of any suit or action is instituted
concerning this Agreement, the prevailing party is entitled to recover reasonable attorney's fees and
costs incurred in such suit or proceeding.
DEF AUL T. In the event Buyer fails, without legal excuse, to complete the purchase of the
PURCHASE AND SALE AGREEMENT - 4
bP
~1JPr-
- S- -/6 -0 c;..,
S-/{p- Dip
tfo-5- S-
. '
property, then Seller may, at its option, bring suit against Buyer for Sellers actual damages, or pursue
any other rights or remedies available at law or in equity. In the event Seller fails, without legal
excuse, to complete the sale of the property, then Buyer may, at its option, bring suit against the
Sellers, for specific performance of the property sale transaction, and for its actual damages, or for
any other rights or remedies available at law or in equity.
THIS AGREEMENT HAS BEEN PREP ARED BY SCHNEIDER, GIBSON & JARVEY, INC. P.S.
ACTING AS ATTORNEYS FOR SELLER. BUYER IS SPECIFICALLY ADVISED THAT THIS
AGREEMENT SHOULD BE SUBMITTED TO BUYER'S ATTORNEY AND TAX SPECIALIST
FOR THEIR REVIEW AND APPROV AL PRIOR TO SIGNING THIS AGREEMENT. NO
REPRESENTATIONS OR WARRANTIES ARE MADE TO BUYER AS TO THE LEGAL
SUFFICIENCY, LEGAL EFFECT OR TAX CONSEQUENCES OF THIS AGREEMENT, THE
TRANSACTION DESCRIBED HEREIN, OR ANY A TT ACHMENTS TO THIS AGREEMENT.
AGREEMENT TO SELL AND TIME LIMIT FOR ACCEPTANCE. The Seller offers
to sell the property on the above terms and conditions. The Buyer has until midnight of May 26,
2006 to accept this offer (if not filled in, the day following the last Seller signature date below.)
Acceptance is not effective until a signed copy hereof along with any earnest money is actually
received by of'Yhe office of Closing Agent. If this offer is not so acce~ ted, it sballlapse.
SELLER: l~ D. llI~ DATED ~-( ~-O Co
SELLER: d H V ~ 7:.I/j.{W - DA lED S -I (p -0&
SELLER'S PHONE: Cell: (253) 307-0266
Work: (253) 939-5225
SELLER'S ADDRESS: 328 SW 292nd
Federal Way, WA 98023
BUYER'S ACCEPTANCE. The Buyer agrees to purchase the property on the terms and
conditions herein.
CITY
-
c:~
-
(5. '7/a;
By:
Peter B. Lewis, Mayor
.A.... ..:Jt
DATED
BUYER'S PHONE: Office: (253) 931-3008
BUYER'S ADDRESS: Auburn City Hall
25 West Main Street
Auburn, W A 98001
f}pr- ~- -( ~ -0 <;.
~ A-- 5-)fo - 0&
s-4s-
PURCHASE AND SALE AGREEMENT - 5