HomeMy WebLinkAbout4065
"",.
RESOLUTION NO. 4 0 6 5
A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF
AUBURN, WASHINGTON, AUTHORIZING THE MAYOR
TO NEGOTIATE AND EXECUTE A CONTRACT WITH ACE
HOLDINGS LLC FOR THE PURCHASE OF PROPERTY AT
FIRST AND A STREET SOUTHEAST, IN AUBURN,
WASHINGTON
WHEREAS, the City of Auburn has the opportunity to collect its properties as a
part of its Downtown Community Revitalization Plan; and
WHEREAS, in order to effectively package its properties for their proper
development, it is appropriate that the City purchase property from Ace Holdings LLC
for purchase of property at First and A Street SE, within the corporate limits of the City
of Auburn.
NOW, THEREFORE, THE CITY COUNCIL OF THE CITY OF AUBURN,
WASHINGTON, HEREBY RESOLVES as follows:
Section 1. That the Mayor is authorized to negotiate and execute an agreement
in substantial conformity with the Agreement attached hereto, marked as Exhibit "A" and
incorporated herein by this reference.
Section 2. That the Mayor is authorized to implement such administrative
procedures as may be necessary to carry out the directives of this legislation.
Section 3. That this Resolution shall take effect and be in full force upon
passage and signatures hereon.
~~
Dated and Signed this ~ day of ~' 200-#-.
CI~~
PETER B. ,lEWIS, MAYOR
Resolution No. 4065
July 17, 2006
Page 1
.-:,~
ATTEST:
/QuJ)IL~
Danielle E. Daskam,
City Clerk
niel B. Heid,
City Attorney
Resolution No. 4065
July 17, 2006
Page 2
,is y.,/tibt f 11
REAL ESTATE PURCHASE AND SALE
AGREEMENT
This Agreement is entered into on the day of , 2006, between
ACE HOLDINGS LLC, 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 the second lot (along 1st Street SE) from the Southwest comer of the
intersection of 1 st Street SE & "A" Street SE, King County, Washington 98002, and legally
described as follows and all rights appurtenant thereto and all improvements thereon:
A PORTION OF LOTS 1 AND 2, BLOCK 6, TOWN OF SLAUGHTER, ACCORDING
TO PLAT RECORDED IN VOLUME 2 OF PLATS, AT PAGE 56, RECORDS OF
KING COUNTY, WASHINGTON, DESCRIDED AS FOLLOWS:
BEGINNING AT THE NORTHWEST CORNER OF SAID LOT 2; THENCE ALONG
THE NORTH LINE OF SAID LOTS 2 AND 1, 62.50 FEET; THENCE SOUTH
00000'22" WEST PARALLEL TO THE WEST LINE OF SAID LOT 2,29.50 FEET;
THENCE SOUTH 89056'53" WEST PARALLEL TO THE NORTH LINE OF SAID
LOTS 2 AND 1, 19.00 FEET TO A POINT ON A LINE PARALLEL TO AND 43.50
FEET EASTERLY OF, WHEN MEASURED AT RIGHT ANGLES TO, THE WEST
LINE OF SAID LOT 2; THENCE SOUTH 00000'22" WEST ALONG SAID
PARALLEL LINE 75.69 FEET TO A POINT ON A LINE PARALLEL TO AND 15
FEET NORTHERLY, OF WHEN MEASURED AT RIGHT ANGLES TO, THE
SOUTH LINE OF SAID LOT 2; THENCE SOUTH 89056' 19" WEST ALONG SAID
LINE 43.52 FEET TO THE WEST LINE OF SAID LOT 2; THENCE NORTH
00000'22" EAST ALONG SAID WEST LINE, 105.20 FEET TO THE NORTHWEST
CORNER THEREOF, SAID POINT ALSO BEING THE POINT OF BEGINNING.
SITUATE IN THE CITY OF AUBURN, COUNTY OF KING, STATE OF
WASHINGTON. TAX PARCEL NO. 7815700285.
(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. If not
approved by the City Council, any Earnest Money Paid shall be refunded to the Buyer.
PURCHASE PRICE. The purchase price is a total of One Hundred Eighty Thousand U.S.
Dollars ($180,000.00 U.S.), which purchase price includes 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
PURCHASE AND SALE AGREEMENT - 1
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. Buyer may also have the property inspected for hazardous substances
or materials prior to closing. Seller will pay up to $ toward the
cost of such an inspection. Buyer shall be responsible for all other costs.
If the agreement fails to close, all reports, surveys and permits pertaining to the property
shall become the property of the Seller.
CLOSING OF SALE. The closing agent shall be
This Agreement shall be closed on
agreement of the parties.
, 2006 or sooner by
POSSESSION AND ACCESS. The Buyer shall be entitled to 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 Buyers 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 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; 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
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." 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.
PURCHASE AND SALE AGREEMENT - 2
CONVEYANCING. Warranty Deed. Title shall be conveyed by a Statutory Warranty
Deed.
PERFORMANCE. Time is ofthe essence ofthis 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.
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.
NON-REFUNDABLE EARNEST MONEY. The Buyer agrees to pay herewith One
Thousand Dollars ($1,000.00) as earnest money, in the form of a City of Auburn Promissory
Note payable directly to the Seller. If the Sale is not able to proceed for any reason, the earnest
money note or if negotiated, the full amount of the proceeds shall be refunded to the Buyer.
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
PURCHASE AND SALE AGREEMENT - 3
harmless from any such claim, including without limitation, any legal fees and costs III
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 of this 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.
DEFAULT. In the event Buyer fails, without legal excuse, to complete the purchase of
the 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.
EACH OF THE PARTIES SHALL SUBMIT THIS AGREEMENT TO THEIR ATTORNEY
AND TAX SPECIALIST FOR THEIR REVIEW AND APPROVAL PRIOR TO SIGNING
THIS AGREEMENT. NO REPRESENTATIONS OR WARRANTIES ARE MADE BY ONE
P ARTY TO THE OTHER PARTY AS TO THE LEGAL SUFFICIENCY, LEGAL EFFECT OR
TAX CONSEQUENCES OF THIS AGREEMENT, THE TRANSACTION DESCRIBED
HEREIN, OR ANY ATTACHMENTS TO THIS AGREEMENT.
AGREEMENT TO SELL AND TIME LIMIT FOR ACCEPTANCE. The Buyer offers to
buy the property on the above terms and conditions. The Seller has until midnight of
PURCHASE AND SALE AGREEMENT - 4
, 2006 to accept this offer (if not filled in, the day following the
Buyer's signature date below.) Acceptance is not effective until a signed copy hereof along with
any earnest money is actually received by the office of Closing Agent. If this offer is not so
accepted, it shall lapse.
CITY OF AUBURN
By:
Peter B. Lewis, Mayor
DATED
SELLER'S ACCEPTANCE. The Seller agrees to sell the property on the terms and
conditions herein.
SELLER:
DATED
SELLER:
DATED
SELLER'S PHONE:
SELLER'S ADDRESS:
PURCHASE AND SALE AGREEMENT - 5
()
()
REAL ESTATE PURCHASE AND SALE
AGREEMENT
This Agreement is entered into on the _25th_ day of _Ju1y_, 2006, between
ACE HOLDINGS LLC, 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 the second lot (along 1st Street SE) from the Southwest comer of the
intersection of 1 st Street SE & "A" Street SE, King County, Washington 98002, and legally
described as follows and all rights appurtenant thereto and all improvements thereon:
A PORTION OF LOTS 1 AND 2, BLOCK 6, TOWN OF SLAUGHTER, ACCORDING
TO PLAT RECORDED IN VOLUME 2 OF PLATS, AT PAGE 56, RECORDS OF
KING COUNTY, WASHINGTON, DESCRIBED AS FOLLOWS:
BEGINNING AT THE NORTHWEST CORNER OF SAID LOT 2; THENCE ALONG
THE NORTH LINE OF SAID LOTS 2 AND 1, 62.50 FEET; THENCE SOUTH
00000'22" WEST PARALLEL TO THE WEST LINE OF SAID LOT 2,29.50 FEET;
THENCE SOUTH 89056'53" WEST PARALLEL TO THE NORTH LINE OF SAID
LOTS 2 AND 1, 19.00 FEET TO A POINT ON A LINE PARALLEL TO AND 43.50
FEET EASTERLY OF, WHEN MEASURED AT RIGHT ANGLES TO, THE WEST
LINE OF SAID LOT 2; THENCE SOUTH 00000'22" WEST ALONG SAID
PARALLEL LINE 75.69 FEET TO A POINT ON A LINE PARALLEL TO AND 15
FEET NORTHERLY, OF WHEN MEASURED AT RIGHT ANGLES TO, THE
SOUTH LINE OF SAID LOT 2; THENCE SOUTH 89056' 19" WEST ALONG SAID
LINE 43.52 FEET TO THE WEST LINE OF SAID LOT 2; THENCE NORTH
00000'22" EAST ALONG SAID WEST LINE, 105.20 FEET TO THE NORTHWEST
CORNER THEREOF, SAID POINT ALSO BEING THE POINT OF BEGINNING.
SITUATE IN THE CITY OF AUBURN, COUNTY OF KING, STATE OF
WASHINGTON. TAX PARCEL NO. 7815700285.
(Buyer and Seller authorize the Closing Agent to insert or correct, over their signatures, the legal
description ofthe property.)
AGREEMENT SUBJECT TO CITY COUNCIL APPROVAL. This Agreement, and the
Buyer's obligations hereunder, are subject to approval by the Auburn City Council. If not
approved by the City Council, any Earnest Money Paid shall be refunded to the Buyer.
PURCHASE PRICE. The purchase price is a total of One Hundred Eighty Thousand U.S.
Dollars ($180,000.00 U.S.), which purchase price includes any earnest money deposit required
pursuant to this Agreement.
PAYMENT. All cash at the time of closing.
SECTION l031 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
PURCHASE AND SALE AGREEMENT - 1
PDF Created with deskPDF PDF Writer - Trial :: http://www.docudesk.com
,..(, ..'v.~,
"
()
o
. ,
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. Buyer may also have the property inspected for hazardous substances
or materials prior to closing. .
If the agreement fails to close, all reports, surveys and permits pertaining to the property
shall become the property of the Seller.
CLOSING OF SALE. The closing agent shall be Pacific Northwest Title. This
Agreement shall be closed on July 28th ,2006 or sooner by agreement of the
parties.
POSSESSION AND ACCESS. The Buyer shall be entitled to 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 Buyers 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 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; 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 Pacific Northwest Title. 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." 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.
PURCHASE AND SALE AGREEMENT - 2
PDF Created with deskPDF PDF Writer - Trial :: http://www.docudesk.com
.
. ,
C"")
~ }
A
Deed.
CONVEYANCING. Warranty Deed. Title shall be conveyed by a Statutory Warranty
PERFORMANCE. Time is oftheessence 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.
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.
NON-REFUNDABLE EARNEST MONEY. The Buyer agrees to pay herewith One
Thousand Dollars ($1,000.00) as earnest money, in the form of a City of Auburn Promissory
Note payable directly to the Seller. If the Sale is not able to proceed for any reason, the earnest
money note or if negotiated, the full amount of the proceeds shall be refunded to the Buyer.
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
PURCHASE AND SALE AGREEMENT - 3
PDF Created with deskPDF PDF Writer - Trial :: http://www.docudesk.com
.
. ,
i. "'"\.
\ )
()
harmless from any such claim, including without limitation, any legal fees and costs m
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 of this 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.
DEFAULT. In the event Buyer fails, without legal excuse, to complete the purchase of
the 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.
EACH OF THE PARTIES SHALL SUBMIT THIS AGREEMENT TO THEIR ATTORNEY
AND TAX SPECIALIST FOR THEIR REVIEW AND APPROVAL PRlOR TO SIGNING
THIS AGREEMENT. NO REPRESENTATIONS OR WARRANTIES ARE MADE BY ONE
PARTY TO THE OTHER PARTY AS TO THE LEGAL SUFFICIENCY, LEGAL EFFECT OR
TAX CONSEQUENCES OF THIS AGREEMENT, THE TRANSACTION DESCRlBED
HEREIN, OR ANY ATTACHMENTS TO THIS AGREEMENT.
AGREEMENT TO SELL AND TIME LIMIT FOR ACCEPTANCE. The Buyer offers to
buy the property on the above terms and conditions. The Seller has until midnight of
PURCHASE AND SALE AGREEMENT - 4
PDF Created with deskPDF PDF Writer - Trial:: http://www.docudesk.com
"
()
n
~- /
, 2006 to accept this offer (if not filled in, the day following the
Buyer's signature date below.) Acceptance is not effective until a signed copy hereof along with
any earnest money is actually rec . the office of Closing Agent. If this offer is not so
accepted, it .
~~~
SELLER'S ACCEPTANCE. The Seller agrees to sell the property on the terms and
conditions herein.
SELLER:
n/
DATED _July 25, 2006
SELLER:
DATED
SELLER'S PHONE: Office 425-748-5050
SELLER'S ADDRESS: 2018 156th Ave NE, Bellevue, WA 98007
PURCHASE AND SALE AGREEMENT - 5
PDF Created with deskPDF PDF Writer - Trial :: http://www.docudesk.com