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Home My WebLink About20110420000537 RELEASE OF COVENANT 4/19/2011WHEN RECORDED, RETURN TO- City of Auburn City Clerk's Office 25 W Main St. Auburn, WA 98001 (Q -ZI - S �INalllltn�llll 20110420000537 CASWEST COv 69.00 PAGE -001 OF 008 04/20/2011 12 51 KING COUNTY. WA COVENANT OF PAYMENT OBLIGATION FOR UTILITY SYSTEM DEVELOPMENT CHARGES AND PARKS, TRANSPORTATION, SCHOOL, AND /OR FIRE IMPACT FEES COMMERCIAL PROPERTIES Payment Obligation for the Benefit of Grantee. City of Auburn, a municipal corporation Persons Indebted to Grantee ( "Grantor "): Cuq114 I OT_ Ll byld) Reference Number(s) of Related Document(s): Permits BLD11 -0036, WTRI1 -0054, SWRI1 -0077, and STM11 -0061. Legal Description (Abbreviated)- Lot 36 of the Riverpointe Subdivision, Auburn, WA. Full description as set forth on attached Exhibit "A." Assessor's Tax Parcel ID Number: 7338220360 Is the use residential, multi - family, or non - residential: Residential Notice is hereby given that pursuant to Auburn City Code ( "ACC ") Chapters 13.41, 19.02, 19.04, 19.06, and 19.08, the City of Auburn (the "City") and the Grantor voluntarily agree to a deferred payment obligation for Utility System Development Charges, Parks, Transportation, School, and/or Fire Impact Fees ( "Covenant ") against the above - described real property. By entering into this agreement, Grantor waives on behalf of itself, its heirs, successors and assigns, its right to a refund or to contest how the fee(s) are used by the City to address the impacts for which the charges or fee(s) were paid. The initial amount of the charge(s) and /or fee(s) deferred is as follows. Utility System Development Charge(s): Water: $2424 00 Sewer: $850.00 Storm- $1162 00 Park Impact Fee. N/A Transportation Impact Fee: $3882 61 School Impact Fee: $5266.33 Fire Impact Fee: $290.13' Grantor acknowledges that Utility System Development Charges may change based on credits granted or denied, and that Impact Fees and their associated administrative fees do not vest and the Page I of 8 I amount owed is based on the applicable Impact Fee schedule in effect at the time of payment. To check the current charge and impact fee amount, please call the City of Auburn Permit Center at 253- 931 -3090. Grantor agrees that, in consideration for the City entering into the Agreement, Grantor waives the right to repayment of any Impact Fees that are not used within the statutory period in Title 19 ACC All Utility System Development Charges and Impact Fees deferred under this Covenant are due and payable as follow. Single Family Residential: to be paid no later than at time of closing of the sale of the unit or at final inspection or issuance of certificate of occupancy or 18 months from the date of issuance of the original building permit, whichever comes first Multi- Family Residential: to be paid no later than at time of closing of the sale of the unit or at final inspection or issuance of certificate of occupancy or 18 months from the date of issuance of the original budding permit, whichever comes first. Non - Residential: to be paid no later than prior to issuance of certificate of occupancy or 18 months from the date of issuance of the original building permit, whichever comes first. Grantor's obligation to pay the fee(s) as described in this instrument shall be a covenant running with the land and shall binding upon the Grantor, its heirs, successors and assigns. Any costs (including but not limited to the cost of litigation and attorney fees) incurred by the City in the enforcement of this Covenant shall be paid by Grantor. Venue shall be in the County in which the property is located. All payments shall be made payable to the City and shall be directed to the City of Auburn at the following address: City of Auburn Attn• Permit Center 25 W. Main Street Auburn, WA 98001 Grantor agrees to include in any purchase and sale agreement for the property a copy of this Covenant attached to a special addendum, and to obtain the purchaser's initials on said. A copy of the covenant and addendum that is initialed by the purchaser shall be provided to the City of Auburn Permit Center at the above referenced address. Grantor further agrees to specifically include in escrow instructions regarding the sale of the property the following language: "The escrow officer is hereby directed to contact the City of Auburn at 253.931 -3090 to obtain the current payment amount for all charges and fees under that certain Covenant recorded under King/Pierce County Number (insert recording number of covenant). The escrow officer is directed to include all payment amounts in the purchaser's copy of the good faith estimate of closing costs and to pay all amounts due at closing." Upon the receipt of notification that a sale is pending and fee(s) are to be paid, the City agrees to deposit into escrow a fully executed Release of Covenant, substantially in the form attached hereto as Exhibit B. The escrow officer shall record the Release of Covenant when funds are disbursed from escrow to pay the outstanding fee(s) The City may provide separate escrow instructions consistent with this Covenant. Otherwise, the City will release this Covenant upon Grantor's payment of the above identified fee(s). Grantor acknowledges on behalf of itself, its heirs, successors, and assigns, that failure of the escrow agent to pay the charges and fees in this Covenant shall result in the immediate suspension of all permits previously issued for this Property and shall limit the granting of any further permits for the property until such time that all outstanding charges or fees are paid in full City of Auburn By. Its: IT11tnN ko ti 4yj kye Date: TI a 'a0l I [] (Corporate acknowledgement) STATE OF WASHINGTON ) ss. COUNTY OAF I certify that I ow or have satisfactory evidence that H✓71• s the person who appeared before me, known to me to be the ( irasident, vice president, secretary, treasurer, or other authorized agent, as the case may be) of th� that executed the instrument herein, and said person acknowledged that (he /she) signed this mstrument, on oath acknowledged it as the free and voluntary act of the corporation for the uses and purposes mentioned in the instrument, and that he /she was authorized to execute said instrument and that the seal affixed is the corporate seal of said corporation. Page 3 of 8 is op RY� °i O� 17- •.......S��e�•`�yt OF WPB (Print Namey�/ ,„J,c} j NOTARY PUBLIC, in and F e State of Washington, residing at ,0y My Commission Expires: Grantor By: P � [] (Corporate acknowledgement) STATE OF WASHINGTON ss. COUNTY OF K� ^46 I certify that I know or have satisfactory evidence that FPS/NG PCl�7r/�yil7nrNs the person who ✓ appeared before me, known to me to be the (president, vice president, secretary, treasurer, or other author d agent, as the case may be) of the corporation that executed the instrument herein, and said person acknowledged that (he /she) signed this instrument, on oath /7e— acknowledged it as the free and voluntary act of the corporation for the uses and purposes mentioned in the instrument, and that he /she was authorized to execute said instrument and that the seal affixed is the corporate seal of said corporation. Date: 19`*'AP6dt(_ �o /1 P N�y�M Name ��i.3� %�AQCH Kd(� IS 1ok �i, (Print Name) rpTA��'^',�M,y�L ms NOTARY PUBLIC, in and For the State of o t Washington, residing at udrn� —LOA . Uai� _ ?fir My Commission Expires: Exhibit "A" Legal Description Riverpointe Lot 36, Recording Number 20080816001786, Volumn 229, Page 088 ATTACHMENT B (RELEASE OF COVENANT) WHEN RECORDED, RETURN TO- City of Auburn City Clerk's Office 25 W. Main St. Auburn, WA 98001 RELEASE OF COVENANT OF PAYMENT OBLIGATION FOR UTILITY SYSTEM DEVELOPMENT CHARGES AND PARKS, TRANSPORTATION, SCHOOL, AND /OR FIRE IMPACT FEES COMMERCIAL PROPERTIES Payment Obligation for the Benefit of Grantee- City of Auburn, a municipal corporation Persons Indebted to Grantee ( "Grantor "): Reference Number(s) of Related Document(s): Legal Description Full description as set forth on attached Exhibit "A " Assessor's Tax Parcel ID Number: Plat or Building Permit Application Number: Amount Released: THIS RELEASE OF COVENANT OF PAYMENT OBLIGATION FOR UTILITY SYSTEM DEVELOPMENT CHARGES AND PARKS, TRANSPORTATION, SCHOOL, AND /OR FIRE IMPACT FEES (the "Release ") is made as of this day of , 20_ by the City of Auburn (the "City"). The City entered into a Covenant of Payment Obligation for Utility System Development Charges and Parks, Transportation, School, And /Or Fire Impact Fees dated and recorded under King/Pierce County Recording No (the "Covenant ") with Grantor to provide for deferred payment of the referenced fee(s). Pursuant to the terms of the covenant, upon Grantor's payment of the utility system development charges and/or impact fees as set forth therein, the City will release the Covenant Accordingly, conditioned upon the Escrow Agent's or Grantor's disbursement of the charges and fee(s) to the City, the City hereby releases and discharges Grantor from the obligations described in the Covenant. Upon recording of this Release, all of the Grantor's obligations under the Covenant shall be deemed fully and completely satisfied, and the Covenant shall have no further force or effect Page 7 of 8 City of Auburn M Date: Grantor STATE OF WASHINGTON ss. COUNTY OF KING I certify that I know or have satisfactory evidence that is the person who appeared before me, and said person acknowledged that (he/she) signed this instrument, on oath acknowledged it as the of to be (his/her) free and voluntary act for the uses and purposes mentioned in the instrument. Name: (Print Name) NOTARY PUBLIC, in and For the State of Washington, residing at My Commission Expires: