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Home My WebLink About8504290660 BILL OF SALE 042985t. F' E C D CASHSL APR L IL 4E H'05 SY T~~i~~jV;' ;F: hP ION KIND TO PURCHASE REAL PROPERTY Ac 1 #-C-4-60 E 7. CICI 4:*4; 7. nn 55 THIS AGREEMENT is made and entered into on the date herein- after set forth by and between MARGARET L. PERTHOU, an unmarried woman ("Grantor"), and the CITY OF AUBURN, a non-charter code city under the laws of the State of Washington ("Grantee"). R E C ITALS: The parties hereto desire to enter into an option for the purchase and sale of the real property described below, in accordance with the terms and conditions stated herein. C> NOW, THEREFORE, the parties hereto covenant and agree as follows: 1. The Grantor, for and in consideration of the sum of 0 FIVE THOUSAND DOLLARS ($5,000), which is simultaneously being 0 placed in escrow by the Grantee with the title company selected GO by Grantee pursuant to paragraph 5 of this Agreement, to be held pursuant to the terms of this Agreement, the receipt of which is hereby acknowledged, hereby grants to Grantee an irrevocable option to purchase the real property (the "Real Property") described as follows: Lots 2, 11, the East 25 feet of Lot 3 and the East 25 feet of Lot 10, Block 14, L.W. Ballard's Third Addition to Slaughter as recorded in Volume 8 of Plats, pg. 47, records of King County, WA. Situated in the NW 1/4, Section 18, TWP 21 N, R.5 EWM, located in King County, Washington. This option may be exercised at any time within six (6) months of the date of this Agreement, pursuant to the terms and conditions stated herein. 2. The option granted herein may be exercised by the Grantee by personal or certified mail delivery of written notice to Grantor at the following address: Margaret L. Perthou 1500 - 42nd Avenue East Seattle, Washington 98112 1 saw 1Wr/. J:.- 1NAI ,c : . lom- r or at such other address as Grantor may-specify by personal or certified mail delivery of written notice to Grantee at the following address: Mayor Bob Roegner City of Auburn 25 W. Main Auburn, Washington 98001 3. In the event of the exercise of the option, the pur- chase price for the Real Property shall be ONE HUNDRED THOUSAND O DOLLARS ($100,000), and the option money placed in escrow by Grantee in accordance with Paragraph 1 of this Agreement shall be CG C) delivered to Grantor and applied to such purchase price. N 4.. In the event that the option is not exercised by p Grantee, the option money placed in escrow by Grantee in accor- dance with Paragraph 1 of this Agreement shall be distributed as follows: a. If a local improvement district has been formed to acquire the Real Property, and the option nevertheless has not been exercised or the purchase price has not been tendered to Grantor for any reason other than Grantee's disapproval of any encumbrances as set forth in Paragraph 5 of this Agreement, or if Grantee has not exercised its best efforts to form such a local improvement district by: (1) preparing the preliminary assessment roll; (2) preparing the LID petition; (3) holding the property owner's meeting; and (4) circulating a petition for signatures of affected property owners, then in that event, the money deposited in escrow shall be distributed to Grantor on a date six (6) months and one (1) day after the date of this Agreement. b. In the event that a local improvement district has not been formed to acquire the Real Property despite Grantee's exercise of its best efforts to form such a local improvement district, and the option has not been exercised or the purchase price has not been tendered to Grantor, the money deposited in escrow in accordance with Paragraph 1 of this Agreement shall be returned to the Grantee on a date six (6) months and one (1) day after the date of this Agreement. 5. Within one (1) month of the execution of this Agree- ment, the Grantee shall obtain at its cost a preliminary commit- ment for title insurance from a title company of its choice, and shall indicate to Grantor whether the exceptions shown on such 2 kr O Q ?i N In GO preliminary commitment are acceptable to Grantee. If such commitment is not obtained and Grantee's approval of all excep- tions is not given within such one (1) month period, this Agreement shall terminate and the escrow money shall be returned to Grantee. Under no circumstances shall Grantor be obligated to make efforts to clear any liens or encumbrances on the title if liens or encumbrances unsatisfactory to Grantee are revealed by the title company, though Grantor may at her option do so. If Grantee approves title as shown on a preliminary commitment and the title cannot subsequently be so insured, Grantee's sole remedy shall be t6 rescind its exercise of the option and obtain the return of the money placed in escrow in accordance with Paragraph 1 of this Agreement. 6. Upon the exercise of the option and receipt of the purchase price, in accordance with Paragraphs 2 and 3 of this Agreement, the Grantor agrees to: a. Cooperate with Grantee in obtaining for Grantee an owner's policy of title insurance in the amount of the purchase price, in form satisfactory to Grantee as deter- mined under the Paragraph 5 of this Agreement; and b. Deliver to Grantee a special warranty deed convey- ing the property to Grantee free from any liens and encum- brances created by Grantee, except any that may have been approved by Grantor pursuant to Paragraph 5 of this Agreement. 7. All closing costs, including title insurance, escrow fees, revenue stamps and recording charges, shall be paid by Grantee; and appropriate pro-rations, including taxes and rents, shall be made as of the date of exercise of the option. 8. If Grantee fails to exercise its option within six (6) months from the date of this Agreement, or fails to tender the purchase price for the Real Property upon exercise of the option, then the Real Property shall be absolutely discharged from any encumbrances or cloud arising from this Agreement, and Grantor shall be released from any further obligation with respect to this Agreement. However, if Grantee has failed to exercise its option after six (6) months from the date of this Agreement, and if Grantor so requests, Grantee shall provide Grantor with a quitclaim deed memorializing the fact that Grantee shall have surrendered all rights of any kind to the Real Property. 9. This option is being secured under Grantee's power of eminent domain. 3 y Y. co 0'} N 10. As a condition precedent to Grantor's execution of this Agreement, Grantee shall provide to Grantor satisfactory evidence that Grantee is empowered to execute, deliver and perform this Agreement. DATED AND S I GNED this ~S day of~ 1985. Grantor: L~ Z-i MARG T L. PERTHOU Grantee: CITY OF U RN By Bob Roegner, Ma or Attest: &1L me 19&J& Coralee McConnehey, City Jerk STATE OF WASHINGTON ) ss COUNTY OF KING ) On this day personally appeared before me MARGARET L. PERTHOU, the individual described in and who executed the within and foregoing instrument, and acknowledged that she signed the same as her free and voluntary act and deed, for the uses and purposes therein mentioned. j GIVEN UNDER MY HAND AND OFFICIAL SEAL this 1985. No r Public in and for W shi gton, residing at , •~UI 1lerl~, a i J:.: C CD N 11~ STATE'OF WASHINGTON ) ss COUNTY OF KING ) On this day personally appeared before me BOB ROEGNER and CORALEE McCONNEHEY, to me known to be the Mayor and City Clerk, respectively, of the CITY OF AUBURN, the municipal corporation that executed the foregoing instrument, and acknowledged the same instrument to be the free and voluntary act and deed of said corporation for the uses and purposes therein mentioned, and on oath stated that they were authorized to execute the said instrument, and that the seal affixed (if any) is the corporate seal of said municipal corporation. WITNESS MY HAND AND OFFICIAL SEAL HERETO AFFIXED this day of 1985. Notar Public in and fcir e Stake';: ` Washington, residing at`. - ` "I XV 5P101 S V 43 +t,j ';+s., ,fir ~,r. A '~,:r._,. . 5