HomeMy WebLinkAbout03/01/2016 05E Disposition of Surplus Property at 1606 East Nob Hill Boulevard pool
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BUSINESS OF THE CITY COUNCIL
YAKIMA, WASHINGTON
AGENDASTATEMENT
Item No. 5.E.
For Meeting of: March 1, 2016
ITEM TITLE: Resolution declaring City -owned property located at 1606 E. Nob
Hill Boulevard surplus to the uses and needs of the City of Yakima,
authorizing disposition and approving purchase and sale agreement
for sale of the property to Lawrence B. Stone, LLC
SUBMITTED BY: Mark Kunkler, Acting City Attorney
SUMMARY EXPLANATION:
In February, 2014 the City of Yakima purchased the subject property (1606 East Nob Hill
Boulevard), along with three other properties from the Tiger Oil Corporation for the public purpose
of environmental remediation and site clean -up. Following such cleanup, the City's intention is to
return the properties to the private sector for economic development. The City has worked with
the Washington State Department of Ecology to achieve cleanup, and has received from the
Department of Ecology a "No Further Action" determination dated December 8, 2015, meaning
that no further environmental remediation is being required for the subject property.
The subject property is surplus to the uses and needs of the City of Yakima and is subject to
disposition. By instrument dated February 3, 2016, the City of Yakima has received from
Lawrence B. Stone, LLC a "Commercial & Investment Real Estate Purchase and Sale
Agreement" ( "Purchase and Sale Agreement "), whereby the purchaser proposes to purchase the
subject property for $330,000. This amount exceeds the $225,000 appraised fair market value
of the property.
The attached Resolution declares the property surplus to the uses and needs of the City of
Yakima, authorizes disposition of the property, and approves the Purchase and Sale Agreement
with GESA Credit Union.
ITEM BUDGETED: NA
STRATEGIC PRIORITY: Improve the Built Environment
APPROVED FOR SUBMITTAL: fl Interim City Manager
STAFF RECOMMENDATION:
Adopt Resolution, approve Purchase and Sale Agreement.
BOARD/COMMITTEE RECOMMENDATION:
ATTACHMENTS:
Description Upload Date Type
D resduhon 205/2016 CAmr Memo
as :)b Hifi and 161h SfreA• INo iirther Adlon (III A)
2/18/2016 Backup IMakylall
cqky
„F & Girty PurcIllaS0 & Salle •¼qreerner1flt (1606 E. Nob
2/182016 Confrad
Mr1111
RESOLUTION NO. R -2016-
A RESOLUTION declaring the property located at 1606 East Nob Hill Boulevard,
Yakima Washington, to be surplus to the uses and needs of the City of
Yakima, authorizing disposition of such parcel, and approving
purchase and sale agreement.
WHEREAS, in February 2014 the City of Yakima (City) purchased the subject
property (1606 East Nob Hill Boulevard), along with three other properties from the Tiger Oil
Corporation for the public purpose of environmental remediation and site clean -up; and
WHEREAS, the City received from the Department of Ecology a "No Further Action"
determination dated December 8, 2015, meaning that no further environmental remediation
is being required for the subject property; and
WHEREAS, the City Council finds and determines that the subject property is surplus
to the uses and needs of the City of Yakima, and that a declaration of surplus and
authorization for disposition of the Subject Property, are in the best interests of residents of
the City of Yakima, and will promote the public health, safety and welfare; and
WHEREAS, by instrument dated February 3, 2016, the City of Yakima had received
from Lawrence B. Stone, LLC a "Commercial & Investment Real Estate Purchase and Sale
Agreement" ( "Purchase and Sale Agreement "), a copy of which is attached as Exhibit "A" and
incorporated herein by this reference, whereby the purchaser proposes to purchase the
subject property for $330,000, which amount is in excess of the appraised fair market value
of said property ($225,000); and
WHEREAS, the City Council finds and determines that such declaration of surplus
and acceptance of the Purchase and Sale Agreement are in the best interests of residents of
the City of Yakima and will promote the general health, safety and welfare; now, therefore
BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF YAKIMA:
Section 1. The property commonly known as 1606 East Nob Hill Boulevard,
Yakima, Washington, being Yakima County Assessor's Parcel Number 191329 - 31549, is
hereby declared surplus to the uses and needs of the City of Yakima.
Section 2. The Purchase and Sale Agreement attached hereto and incorporated
herein as Exhibit "A" is hereby approved, and the City Manager is hereby authorized to
execute and administer such agreement for and on behalf of the City of Yakima, and to
execute all documents necessary or appropriate to accomplish such sale.
Section 3. The City Manager is authorized to dispose of the property by any
means deemed necessary and appropriate in accordance with applicable codes and laws of
the State of Washington and the Purchase and Sale Agreement approved in Section 2
above. The City Manager is further authorized to prepare and execute a deed of
conveyance to accomplish such sale in accordance with the terms and conditions above, and
to deliver such deed for recording by the purchaser upon payment in full to the City of
Yakima of the consideration described above.
ADOPTED BY THE CITY COUNCIL this 1S day of March, 2016.
ATTEST: Avina Gutierrez, Mayor
Sonya Claar Tee, City Clerk
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Brett Sheffield, Chief Engineer
City of Yakima RECEIVED
129 N. 2n Street DEC 10 2015
Yakima, WA 98901
ENGINEERING
December 8, 2015
Re: No Further Action Determination for:
Site Name: Tiger Oil — 16 and East Nob hill
Site Address: 1606 East Nob Hill Boulevard, Yakima
Facility /Site No.: 528
Dear Mr. Sheffield:
As you know, since the City of Yakima's purchase of this property from Tiger Oil in 2014, the
Department of Ecology (Ecology) has hired an environmental contractor. They have completed
site assessment activities to determine the effectiveness of prior cleanup efforts. Our evaluation
of the most recent soil and groundwater sampling results support a determination of "No Further
Action.”
Ecology will update its database to reflect this "No Further Action” determination. The site will
not appear in future publications of the Confirmed & Suspected Contaminated Sites Report.
Ecology will also initiate the process to remove the site from the Hazardous Sites List. This
process does include a thirty (30) day public comment period.
If releases of hazardous substances are discovered in the future, Ecology reserves the right to
withdraw the No Further Action determination.
We appreciate your commitment to human health and the environment. Should you have any
questions, please feel free to contact Mary Monahan at 509- 454 -7840.
Sim r Iy,
f ii ' 1
Valerie Bound
Section Manager
Toxics Cleanup Program
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COMMERCIAL & INVESTMENT REAL ESTATE ALL RIGHTS RESERVED
PURCIIASE & SALE AGREEMENT «v^ m" PS 1A
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Reference Date: February 3, 2016
Lawrence B. Stone Properties, LLC, and/or Assic ns, ('`Buyer'') agrees to buy and City of Yakima
("Selier") agrees to soU, on the following tnrmn, the commercial real estate and all improvements thereon
(collectively, the "Property"), approximately 138 auvaa, addressed as, 1606 East Nob Hill Boulevard, Yakima,.
Washington . (Assessor's Tax Parcel Number: 191329'31540). Legally and graphically described on
attached Exhibits. The Reference Date above is intended to be used to reference this Agreement, and is not
the date of "Mutual Acceptance." Mutual Acceptance is defined in Section 23 below.
1. PURCHASE PRICE. The total purchase price is Three Hundred Thirty Thousand ($330,000.), payable
as follows (check oniy one}:
OD All cash at closing with no financing contingency.
O AJ|cas-h+at-*|mdnyuon§mg*oAen-now-finmeo|ng-inomondamme*viih-theFinaouin{-Addemdum-
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O Buyer's delivery at closing of a promissory note for the balance of the purchase prine, secured
by a deed of trust encumbering the Property, in accordance with the Financing Addendum (attach
CBA Form PS_FIN).
O Qthe,:
2. EARNEST MONEY. The earnest money |n the amount of 525.0Qo.0D shall be|n the form mf
F] Cash El Personal check 0 Promissory note (attached CBA Form EMN) bdOther: Wire Transfer
The Earnest Money shall be held by 0 Selling Firm rd Closing Agent. [] Selling Broker may,
however, transfer the Earnest Money to the CIosng Agent. Buyer shall deliver tho earnest money
no later than 0 5 days after Mutual Acceptance. O On the last day of the Feasibility Period
defined is Section 5 herein.
If the earnest money is to be held by Selling Firm and is over $10.000. it shall be deposited to: O
Selling Firm's pooled trust account (with interest paid to the State Treasurer) OA separate interest
bearing trust account in Selling Firm's name. The interest, if any, shall be credited at closing to
Buyer. If this sale fails to close, whoever is entitled to the earnest money is entitled to interest.
Selling Firm shall deposit any check to be held by Selling Firm within 3 days after receipt or Mutual
Avooptmnoo, whichever occurs later. Buyer agrees to pay financing' and purchase costs incurred
by Buyer. Unless otherwise provided in this Agreement, the earnest money shall be applicable to
the purchase pdce.
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INITITIALS: BUYER / + UAT� k c SELLER �ATE
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BUYER DATE SaLIK DATE
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3. EXHIBITS AND ADDENDA. The following Exhibits and Addenda are made a part of this Agreement:
Rif Exhibit A - Legal Description
O Earnest Money Prornissory Note, CBA Form E(NW
O Promissory Note, LPB Form No. 28A
O Short Form Deed of Trust, LPB Form No. 20
O Deed of Trust Rider, CBA Form DTR
O UtlIRy Charges Addendum, CBA Forrn UA
O FIRPTA Certification, CBA Form 22E
O Assignrnent and Assumption, CBA Form PS-AS
[] Addendum/Arnendment, CBA Form PSA
O Back-Up Addendum, CBA Form BUA
O Vacant Land Addendum, CBA Form VLA
O Financing Addendum, CBA Form PQ_F|N
O Tenant Estoppel Certificate, CBA F P EC
O De0eaomnooAddondum. CBA Form PS_D
O Other
4. SELLER'S UNDERLYING FINANCING. Unless Buyer is assuming Seller's underlying financing, Seller shall be
responsible for confirming the existing underlying financing is not subject to any lock out" or similar
covenant which would prevent the lender's lien from being released at closing. In addition, Seller shall
provide Buyer notice prior to the end of the Feasibility Period if Seller is / e4uired to substitute securities for
the Property as collateral for the underlying financing (known as "defeasamco"). If Seller provides this notice
of defeasance to Buyer, then the parties shall close the transaction in accordance with the process described
in CBA Form PS_D or any different process identified in Seller's defeasance notice to Buyer.
5. FEASIBILITY CONTINGENCY. Buyer's obligations under this Agreement are conditioned upon Buyer's
satisfaction in Buyer's sole disoredou, concerning all aspects of the Property, including its physical condition;
the presence of or absence of any hazardous substances; the contracts and leases affecting the property; the
potential financial performance of the Property; the availability of government permits and approvals; and the
feasibility of the Property for Buyer's intended purpose. This Agreement shall terminate and Buyer shall
receive a refund of the earnest money unless Buyer gives written notice to Seller within 60 days (30 days if not
filled in) (the "Feasibility Period") of Mutual Acceptance stating that this oondition is satisfied. If such notice is
tirnely given, (he teasihiity contingency stated inthiu8eoNou5ohaUbadaemedk»beuaUsOod.
a. Books, Records, Leases, Agreements. Seller shall make available for inspection by Buyer and its agents
within 10 business days (2 days if not fiIIed in) after MLItuaI Acceptance all documents in Seller's possession
or control relating to the ownomhip, operation, renovation or development of the Property, excluding
appraisals or other statements of value, and including: staternents for real estate taxes, assessrnents, and
utilities for the last three years and year to date; property management agreements and any other
agreements with professionals or consuhants; leases or other agreements relating to occupancy of all or a
portion of the Property and a suite-by-suite schedule of tvnnmtn, rents, prepaid rentn, deposits and fees;
plans, specifications, porm|to, applications, drawings, aurveys, and studies; maintenance records, accounting
records and audit reports for the last three years and year to date; and "Vendor Contracts" which shall
include maintenance or service contracts, and installments purchase contracts or leases of personal
property or fixtures used in connection with the Property. Buyer shall determine within the Feasibility
Period: (1) wh will agree to terminate any objectionable Vendor Contracts; and (11) whether SeFIer
|N|T|T/Au5: BUYER � ' I _ DATE ILI SELLER DATE _
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BUYER ___ DATE ___ ___ DATE
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COMMERCIAL & INVESTMENT REAL ESTATE ^u RIGHTS RESERVED
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will agree to pay any damages o,penalties resulting from the termination of objeclionable Vendor Contracts.
Buyer's waiver of the Feasibility Contingency shall be deemed Buyer's acceptance o f all Vendor Contracts
which Seller has not agreed in writing to terminate. Buyer shall be solely responsible for obtaining any
required consents to such assumption and the payment of any assumption fees. Seller shall cooperate with
Buyer's efforts to receive any such consents but shall not be required to incur any out-of-pocket expenses
or liability in doing so. Seller shall transfer the Vendor Contracts as provided in Section 17.
b. Access. Seller shall permit Buyer and its agents, at Buyer's sole expense and risk to enter the Property
at reasonable times subject to the rights of and after legal notice to tenants, to conduct inspections
concerning the Property and improvemonta, including without |imihohon, the structural condition of
improvements, hazardous motoria|s, pest in0aotmUom, soils oondiUona, sensitive areas, m/aUandu, or other
matters affecting the feasibility of the Property for Buyer's intended use. Buyer shall schedule any entry onto
the Property with Seller in advance and shall comply with Seller's reasonable requirements including those
relating to security, confidentiality, and disruption of Seller's tenants. Buyer shall not perform any invasive
testing including environmental inspections beyond a phase | assessmerit or contact the tenants or property
management personnel without obtaining the Seller's prior written consent, which shall not be unreasonably
withheld. Buyer shall restore the Property and irnprovements to the same condition they were in prior to
inspection. Buyer shall be solely responsible for all costs of its inspections and feasibility analysis and has no
authority to bind the Property for purposes of statutory liens. Buyer agrees to indemnify and defend Seller
from all 8iemo, 000ks, n|aimo, and oxponneo, including attorneys' and experts' fees, arising from or relating to
entry onto or inspection of the Property by Buyer and its agents. This agreement to indemnify and defend
Seller shall survive closing. Buyer may continue to enter the Property in accordance with the foregoing terms
and conditions after removal or satisfaction of the feasibility contingency only for the purpose of leasing or to
satisfy conditions of financing.
c. Buyer does not waive the right to receive a seller disclosure statement ("Form 17-Commercial") as
required byRCVV84.UO.
Comm ensia|. r(o-any-*f-tho-quoetiena-r+thm-u*ution-of-t he -Fe mn 17 Gomm mrdu|ontiNoU
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Form-47—Comu+ena|al-*hi ed-by—SoU** Said Form 17- Commercial sIiaII be suppl/ed by
Selier to Buyer within five (5) days of execution of this agreement.
6. TITLE INSURANCE.
a. Title Report. Seller authorizes Buyer, its Lender, Listing Broker, Selling Broker or Closing Agent, at
Seller's expense, to apply for and deliver to Buyer a G5 standard D extended (utundurd, if not completed),
coverage owner's policy of title insurance. If an extended coverage owner's policy is specified, Buyer shall
pay the increased costs associated with that policy including the excess premium over that charged for a
standard coverage policy, and the cost of any survey required by the title insurer. The title report shall be
issued by (a title company ofSeUwr'm choice, if not completed). If Seller previously received a preliminary
commitment from a title insurer that Buyer declines to use, Buyer shall pay any cancellation fee owing to
the original title insurer. Otherwise, the party applying for tite insurance shall pay any title cancellation fee,
inthe event such afee is assessed.
b. Permitted Exceptions. Buyer shall notify SeIer of any objectionable matters in the title report or any
supplemental report within the earlier of: (1) twenty (20) days after Mutual Acceptance of this Agreement;
or (2) the exp|ml' of the Feasibility Period. This Agreement shall terminate and Buyer shall receive a
refund of the 'e a t m ley, less ny costs advanced or committed for Buyer, unless within five(S)days
i/
|N|mTNi � / DATE 2 /S /6P SELLER DATE
muYcK ____ DATE ___ S{&ER DATE
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COMMERCIAL & INVESTMENT REAL ESTATE ALL RIC3HIS RESERVED
PURCHASE & SALE AGREEMENT
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(CONTINUED) Purchase
Rev ,cw/r
Page ^mm
of Buyer's notice of such objections (1) Seller agrees, in writing, to remove aN objectionable provisions or (
Buyer notifies Seller that Buyer waives any objections which Seller does not agree to remove, |f any new title
matters are disclosed in a supplemental title report, then the preceding termination, objection and waiver
provisions shall apply to the new title matters except that Buyer's notice of objections must be delivered
within five (5) days of delivery of the supplemental report and Seller's response or Buyers waiver must be
delivered within two (2) days of Buyer's notice of objections. The closing date shall be extended to the
extent necessary to permit time for these notices. Buyer shall not be required to object to any mortgage or
deed of trust liens, or the statutory lien for real property taxes, and the same shall not be deemed to be
Permitted Exceptions; providod, however, that the lien securing any financing which Buyer has agreed to
assume shall be a Permitted Exception. Except for the foragoing, those provisions not objected to or for which
Buyer waived its objections shall be referred to collectively as the "Permitted Exceptions." Seller shall
cooperate with Buyer and the title company to clear objectionable title matters but shall not be required to
incur any out-of-pocket expenses or liability other than payrnent of monetary encumbrances not assumed by
Buyer and proration of real property taxes, and Seller shall provide an owner's affidavit containing the
information and reasonable covenants requested by the title company. The title policy ohuN contain no
exceptions other than the General Exclusions and Exceptions common to such form of policy and the
Permitted Exceptions,
7. CLOSING OF SALE. Thiis sale shall bo closed, wmwr before, at Buyer's option, April 15.2O10. subject hnthe
satisfaction of the 60 Day Due Diligence/Feasibility Contingency Period, and the Buyer's notice of its satisfaction as
described herein, ("Closing") by Valley Title Guarantee Co., 502 North 2" Street, Ymkima, WA 08801,
("Closing Agent"), (Sellershall-aol om�-ifvnt completed) Buyer and 8w|iorohmVi deposit with
Closing Agent by 12:00 p.m. on the scheduled Closing date all instruments and monies required to cornplete
the purchase in accordance with this Agreement "Closing' shall be doomed to have occurred when the
deed is recorded arid the sale proceeds are available to Seller. Time is of the essence in the performance of
this Agreement. Sale proceeds shall be considered available to Seller, even though they cannot be
disbursed to Seller until the next business day after Closing. Notwithstanding the foregoing, if Seller
informed Buyer during the Feasibility Period that Seller's underlying financing requires that it be deteased and
may not be paid off, then Closing shall be conducted in accordance with the three-day closing process
described in CBA Form PS_D. This Agreement is intended to constitute escrow instructions to Closing Agent.
Buyer and Seller will provide any supplemental instructions requested by Closing Agent provided the same are
consistent with this Agreement,
O. CLOSING COSTS AND PROR4J|QNS. Solier shall deliver an updated rent roll to Closing Agent not later
than two (2) days before the scheduled Closing date in the form required by Section 5(a) and any other
information reasonably requested by Closing Agent to a(ow Closing Agent to prepare a settlement statement
for Closing. Seller certifies that the information contained in the rent roll is correct as of the date submitted.
Seller shall pay the premium for the owner's standard coverage title policy. Buyer shall pay the excess
premium attributable to any extended coverage or endorsements requested by Buyer, and the cost of any
survey required in connection with the same. Seller and Buyer shall each pay one-half of the escrow fees.
Any real estate excise taxes shall be paid by the party who bears primary responsibility for payment under the
applicable statute or code. Real and personal property taxes and assessments payable in the year of closing;
collected rents on any existing tenancies; interest; utilities; and other operating expenses shall be pro-rated as
of Closing. If tenants pay any of the foregoing expenses directly, then Closing Agent shall only pro rate those
expenses paid by Selier. Buyer shall pay to Selier at Closing an additional sum equal to any utility deposits or
mortgage reserves for assumed financing for which Buyer receives the benetit after Closing. Buyer shall pay
all costs of financing including the premium for the lender's title policy, If the Property was taxed under a
deferred r to Closing, then Seller shall pay all taxes, |n\onao\, penmNeu, deferred taxes or
similar items t from removal of the Property from the deferred classification. At Closing, all
1N|Y|T|AL3: BUYuK^� �� DATE �( ���� SELLER DATE
BUYER DATE SELLER ___ DATE
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COMMERCIAL & INVESTMENT REAL ESTATE 'vl RIGHTS RESERVED
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(cQNT|NUED) Purchase u Sale xore°nem
Rev. 1/2011
Page o*m
refundable deposits on tenancies shall be credited to Buyer or deIvered to Buyer (or deposit in trust account
if required by state or local law. Buyer shall pay any sales or use tax applicable to the transfer of personal
property included in the sale.
u. Unpaid Utility Charges, Buyer and Seller 0 WAIVE U DO NOT WAIVE (do not waive if neither box
checked) the right to have the Closing Agent disburse closing funds necessary to satisfy uripaicl utility charges
affecbng the Property pursuant toRCVY80.80.lf "do not waive" in checked, then attach CBA Form UA(^UW[\y
Charges" Addendum) to this Agreement,
S. POST-CLOSING ADJUSTK0ENTS, COLLECTIONS, AND PAYMENTS. After Closing, Buyer and Seller
shall reconcile the actual amount of revenues or liabilities upon receipt or payment thereof to the extent those
items were prorated or credited at Closing based upon estimates. Any bilis or invoices received by Buyer after
Closing which relate to services rendered or goods delivered to the Seller or the Property prior to Closing
shall be paid by Seller upon presentation of such bill or invoice. At Buyer's option, Buyer may pay such bill or
invoice and be reimbursed the amount paid plus interest at the rate of 12% per annum beginning fifteen (
days from the date of Buyer's written demand to Seller for reimbursement until such reimbursement is made.
Notwithstanding the foregoing, if tenants pay certain expenses based on estimates subject to a post-closing
reconciliation to the actual amount of those expenses, then Buyer shall be entitled to any surplus and shall be
liable for any credit resulting from the reconciliation, Rents collected from each tenant after Closing shall be
applied first to rentals due most recently from such tenant for the period after closing, and the balance shall
be applied for the benefit of SelIer for delinquent rentals owed for a period prior to closing. The amounts
applied for the benefit of Selter shall be turned over by Buyer to Seller promptly after receipt. Seller shall be
entitled to pursue any lawful methods of collection of delinquent rents but shall have no right to evict tenants
after Closing.
10, OPERATIONS PRIOR TO CLOSING. Prior to Closing, Seller shall continue to operate the Property in
the ordinary course of its business and maintain the Property in the same or better condition than as existing
on the date of Mutual Acceptance but shall not be required to repair material damage from casualty except
as otherwise provided in this Agreement. After the Feasibility Period, Seller shall not enter into or modify
existing rental agreernents or leases (except that Seller may enter into, modify, *xtand, renew or terminate
residential rental agreements or residential leases in the ordinary course of its buuinaoo), service contracts, or
other agreements affecting the Property which have terms extending beyond Closing without first obtaining
Buyer's consent, which shall not be unreasonably withhoid.
11. POSSESSION. Buyer shall be entitled to possession L on closing O (on closing, iK not uumop|oied).Buyer
shall accept possession subject to alt tenancies disclosed to Buyer during the Feasibility Period.
12. SELLER'S REPRESENTATIONS. Except as disclosed to or known by Buyer prior to the satisfaction or
waiver of the feasibility contingency stated in Section 5 above, including in the books, records and documents
made available to 8uyar, or in the title report or any supplemental report ordocuments referenced (herv|n.
Seller represents to Buyer that, to the best of Seller's actual knmw|odge, each of the following is true as of the
date hereof; (a) Seller is authorized to enter into the Agreement, to sell the Pnopor(y, and to perform its
obligations LJ:nder the Agreement; (b) The hooks. records, |eanon, agreements and other items delivered to
Buyer pursuant to this Agreement comprise all material documents in Seller's possession or control regarding
the operation and condition of the Property; (c) Seller has not received any written notices that the Property or
the business conducted thereon violate any applicable |nwa, mgu|adonu, codes and ordinances; (d) Seller has
all certificates of occupancy, yennito, and other governmental consents necessary to own and operate the
Property for its current use; (e) There is no pending or threatened litigation which would adversely affect the
Property or Buyer's ownership thereof after Closing; (f) There is no pending or threatened condemnation or
similar proceedings affecting the Pmpariy, and the Property is not within the boundaries of any planned or
authorized local ent district; (g) Seller has paid (except to the extent prorated at Closing) all local,
state and fed ther than real and personat property taxes and assessments described in Section 8
|N|T|T|AO: n@YE' � DATE 0 i , SELLER DATc
8 UYEi ___ DATE _ SELLER DATE
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COMMERCIIL & INVESTMENT REAL ESTATE ALL RIGHTS REESCRVED
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Page sm,3
above) attributable to the period prior to closing which, if not paid, could constitute a lien on Property (including
any personal property), or for which Buyer may be hold liable after Closing; (h) Seller is not aware of any
concealed material defects in the Property except as disclosed to Buyer in writing during the Feasibility Period;
(1) There are no Hazardous Substances (as defined below) currently located in, on, or under the Property in a
rnaiiner or quantity that presenliy violates any Environmental Law (as defined below); there are no underground
storage tanks located on the Property; and there is no pending or threatened investigation or remedial action by
any governmental agency regarding the release of Hazardous Substances or the violation of Environmental
Law at the Property. As used herein, the term "Hazardous Substances" shall mean any substance or
material now or hereafter defined or regulated as a hazardous substance, hazardous waste, toxic
substance, pollutant, or contaminant under any federal, state, or local law, regulation, or ordinance
governing any substance that could cause actual or suspected harm to human health or the environment
("Environmental Lam/"). The term "Hazardous Substances" specifically includes, but is not limited to,
petroleum, petroleum by'productx, and asbestos.
If prior to Closing Seller or Buyer discovers any information which would cause any of the representations
above to be false if the same were deemed made as of the date of such discovery, then the party discovering
the same shall promptly notify the other party in writing. If the newly-discovered information will result in costs
or liability to Buyer in excess of the lesser of $100,000 or five percent (5%) of the purchase price stated in this
Agneomant, or will materially adversely affect Buyer's intended use of the Property, then Buyer shall have the
right to terminate the Agreement and receive a refund of its earnest money. Buyer shall give notice of
termination within five (5) days of discovering or receiving written notice of the new information. Nothing in
this paragraph shall prevent Buyer from pursuing its remedies against SelIer if Selier had actual: knowledge of
the newly-discovered information such that a representation provided for above was false.
13. AS-IS. Except for those representations and warranties specifically included in this Agreement: (i) Seller
makes no representations or warranties regarding the Property; (U) Seller hereby disclaims, and Buyer hereby
waiveo, any and uW representations or warranties of any k|nd, express or implied, concerning the Property or
any portion tharaof, as to its voodidam, va|ue, compliance with laws, status of permits or approvals, occupancy
rate or any other matter of similar or dissimilar nature relating in any way to the Property, including the
warranties of fitness for a particular purpose, (onmmtebU|ty, habitability and use; (iii) Buyer otherwise takes the
Property "AS |S;'^and (iv) Buyer represents and warrants to Seller that Buyer has sufficient experience and
expertise such that it is reasonable for Buyer to rely on its own pre-closing inspections and investigations.
14.PERGONALPROPERTY.
a. This sax* includes all right. title and interest of Selier to the following tangible personal property: El None
That portion of the personal property located on and used in connection with the Property, which Seller will
itemize in an Exhibit to he attached to this Agreement within ten (10) days of Mutual Acceptance (None, if not
completed). The value assigned to the personal property shall be $<if not completed, the County-assessed
value if available, and if nol available, the fair rnarket value determined by an appraiser selected by the Listing
Broker and Selling Broker). Seller warrants title to, but not the condition of, the personal property and shall
C0flV0 it by bill of sale.
b. In addition to the leases and Vendor Contracts assumed by Buyer pursuant to Section 5(a) mbove, this
sale includes all hQht. title and interest of Seller to the following intangible property now or hereafter existing
with respect to the Property including without limitation: all dghta'of-wey, rights of ingress or egress or other
interests hm, on, or to, any land, hiOhway, mtroet, mad, or avenue, open or pmpoaod, im, nn, or across, in front
of, abutting or alfjoining the Property; all rights to utilities serving the Property; all drawinUa, plans,
specifications CI 91 re architectural or engineering work product; all governmental permits, certificates, � �
UN|T|T|A1S: BUYER _7~ � DAT ^ ~/ ~" / / »= SELLER DATE
"
BUYER DATE SELLER DATE
� Commercial Brokers Association
2011 ���u
COMMERCIAL & INVESTMENT REAL ESTATE ALL nm*
PURCHASE & SALE AGREEMENT
mwmrm PS IA
(CONTINUED) Purchase & Sale am,00.e",
rio"xcm`
Page ru/3
|ioonwox, authorizations and approvals; all rights, daimo, causes of action, and warranties under contracts
with contractors, engineers, architects, consultants or other parties associated with the Property; all uhU\y,
security and other deposits and reserve accounts made as security for the fulfillment of any of Seller's
obligations; any name of or telophone numbers for the Property and related tmdemerKe, service marks or
trade dress; and OumnmnUuo, warranties or other assurances of performance received.
15.CONDEMNATION AND CASUALTY. Seller bears all risk of Ioss until C|ooimg, and thereafter Buyer shall
bear the risk of loss. Buyer may terminate this Agreement and obtain a refund of the earnest money if
improvements on the Property are destroyed or materially damaged by casualty before Closing, or if
condemnation proceedings are commenced against all pro portion of the Property before Closing. Damage
will be considered material if the cost of repair exceeds the lesser of$10U.000 or five percent (5%) of the
purchase price stated in this Agreement. Alternatively, Buyer may elect to proceed with closing, in which
case, at C|osinA. Selier shall assign to Buyer all craims and right to proceeds under any property insurance
policy and shall credit to Buyer at Closing the amount of any deductibie provided for in the policy.
16.FIRPTA - TAX WITFIHOLDING AT CLOSING. Closing Agent is instructed to prepare a certification (CSA or
NWMLS Form 22E, or equivalent) that Seller is note "foreign person" within the meaning of the Foreign
Investment in Real Property Tax Act, and Seiler shall sign it on or before Closing. If Seller is a foreign person,
and this transaction is not otherwise exempt from FIRPTA, Closing Agent is instructed to withhold and pay the
required arnount to the Internal Revenue Service.
17. CONVEYANCE. A Statutory Warranty Deed subject only to the Permitted Exceptions shall convey title. If
this Agreement is for conveyance of Seller's vendee's interest in a Real Estate Contract, the Statutory
Warranty Deed shall include a contract vendee's assignment sufficient to convey after acquired title. At
Closing, Seller and Buyer shall execute and deliver to Closing Agent C8& Form No. PS,ASAxyignmnot
and Assumption Agreement transferring all leases and Vendor Contracts assumed by Buyer pursuant to
Section 5(a) and all intangible properly transferred pursuant to Section 14(h).
18. NOTICES AND COMPUTATION OF TIME. Unless otherwise upeoi8ed, any notice required or permitted in,
or related to, this Agreement (including revocations of offers and counteroffers) must be in writing. Notices to
Seller must be signed by at least one Buyer and must be delivered to Seller and Listing Broker with a
courtesy copy to any other party identified as a recipient of notices in Section 28. A notice to Seller shall be
deemed delivered only when received by Seller, Listing Brokor, or the licensed office of Listing Broker.
Notices to Buyer must be signed by at least one Seller and must be delivered to Bmyor, with a copy to Selling
Broker and with a courtesy copy to any other party identified as a recipient of notices in Section 28. A notice
to Buyer shall be deemed delivered only when received by Buyer, Selling Broker, or the licensed office of
Selling Broker. Selling Broker and Listing Broker have no responsibility to advise of receipt of a notice
beyond either phoning the represented party or causing a copy of the notice to be delivered to the party's
address provided in this Agreement. Buyer and Seller shall keep Selling Broker and Listing Broker advised of
their whereabouts in order to receive prompt notification of receipt of a notice. If a licensee does not represent
any party, then notices must be delivered to and shall be effective when received by that party at the
addresu, fax number, or email indicated in Section 28.
Unless otherwise specified in this Agreement, any period of time in this Agreement shall mean Pacific Time
and shall begin the day after the mvont starting the period and shall expire at 5:00 p.m. of the last calendar
I fr
day of the spe ' riod of time, unUaua the last day is a Saturday, Sunday or legal holiday as defined in
|N|T;T|ALS: BUY[K �
DATE �'7 SELLER DATE _ ___
n Commercial aro^"x,mu*w" '~~"~/
2011 K H�
,^' ~�
COMMERCIAL & INVESTMENT REAL ESTATE ALL RIc5Hrs RESERVED
PURCHASE & SALE AGREEMENT
oux Form PS *
(CONTINUED) Purchase Sale "
Rev. 1/2011
r^yeeu,,
RCW 1.18.058. in which case the specified period nf time shall expire on the next day that is not Saturday,
Sunday or legal holiday. Any specified period of five (5) days or less shall not include Saturdays, Sundays or
legal holidays. Notwithstanding the fomgoing, references to specific dates or times or number of Fours shall
mean those dateo. times or number of hours; provided, howover. that if the Closing Date falls on a Smdun1py.
Sunday, or legal holiday as defined in RCVV 1.16.050, or a date when the county recording office is closed,
(hen the Closing Date shall be the next reguar businessday.
19.AGENCY DISCLOSURE. At (he signing ofthis Agreernerit,
Broker: Daniel Tilley, Heritage Moultray Real Eo(ate„Commomia| Group, represented the Buyer, and Russ
Roberts and Mike Abrams, Heritage &8ou|tmy Real Estate, Commercial Grooy, represented the Seller.
Selling Firm, Selling Firm's Designated Bmker, Selling Broker's Branch Manager (if any) and Selling Broker's
Managing Broker (if any) represent the same party that Selling Broker represents. Listing F|rm, Listing Firm's
Designated Brokor, Listing Broker's Branch Manager (if any), and Listing Broker's Managing Broker (if any)
represent the same party that the Listing Broker represents. If Selling Broker and Listing Broker are different
persons affiliated with the same F|mo, then both Buyer and Seller confirm their consent to the Brokers'
Designated Bnoker, Branch Manager (if any), and Managing Broker (if any) representing both parties as a
dual agent. If Selling Broker and Listing Broker are the same person representing both parties, then both
Buyer and Seller confirm their consent to that person and his/her Designated Broker, Branch Manager (if
any), and Managing Broker (if any) representing both parties as dual agents. All parties acknowledge receipt
of the parnphlet entitled "The Law of Real Estate AOomoy."
20. ASSIGNMENT. Buyer nmay n may not (may not, if not completed) assign this Agreement, or Buyer's
rights hereunder, without Seller's prior written oomoomt, unless provided otherwise herein, If the "may not"
option is selected and the words "and/or assigns" or similar words are used to identify the Buyer, then this
Agreement may be assigned with notice to Seller but without Seller's consent only to an entity which is
controlled by or under cornmori control withi the Buyer identified in this Agreernent. Any other assignment
requires Seller's consent, The party identified as the initial Buyer shall remain responsible for those
obligations of Buyer stated in this Agreement notwithstanding any assignment and, if this Agreement provides
for Seller to finance a portion of the purchase price, them the party identified as the initial Buyer shall
guarantee payment of the SelIer financing.
21.DEFAULT AND ATTORNEY'S FEE.
(a) Buyer's default. In the event Buyer fails, without legal exouse, to complete the purchase of the Property,
then (check one):
RI Seller may terminate this Agreement and keep the earnest money as liquidated damages as the sole and
exclusive remedy available to Selier for such failure; or
O Seller may, at its option, (a) terminate this Agreernent and keep as liquidated darrnages the earnest money
as the sole and exclusive remedy available to Seller for such failure, (b) bring suit against Buyer for Seller's
actual damages, (c) bring sult to specificaIy enforce this Agreernent and recover any incidental cJamages, or
(d) pursue any other rights or rernedies available at law orequity.
(b) Seller's default. In the event Seller fails, without legal axuuuo, to complete the sale of the Property,
then (check one):
B} As Buyer's sole remedy, Buyer may either (a) terrninate this Agreemen and recover all earnest money or
fees paid by Buyer whet er or not the same are identified as refundable or applicable to the purchase price;
or (b) bring suit to specificaIy enforce this Agreement and recover incidental darnacjes, provided, howovor.
Buyer must file suit within sixty (60) days from the scheduled date of closing or from the date Seller
has i fo d BuyprV writing that Selier will not proceed with closing, whichever is earlier;or
|m|TMALS: BUYER / v DATE 1 /»/ar , SELLER DATE
DATE SELLER DATE
Commercial Brokers Association I-1 D�
2011 lJ�
COMMERCIAL & INVESTMENT REAL ESTATE ALL RIGHTS RESERVED
PURCHASE & SALE AGREEMENT
m�^�" mwp � mpnm
(CONTINUED)
Rev. 1/2011
Page e*`3
O Buyer may, at its option, (a) bring xwii against Seller for Buyer's actual damages, (b) bring suit to
specifically enforce this Agreemerit arrd recover any incidental damages, or (c) pursue any other rghts or
remedies available at law or equity, Neither Buyer nor Oo|ier may recover consequential damages such as
lost profits. If Buyer or Selier institutes suit agairist the other concerning this Agreement, the pmvmk8ing party is
entitled to reasonable attorneys' fees and expenses. in the event of trial, the court shall fix the amount of the
attorney's fee. The venue of any suit shall be the county in which the Property is located, and the laws of the
state where the Property is Iocated shall govern this Agreernent,
22. MISCELLANEOUS PROVISIONS,
a. Complete Agreement. This Agreement and any addenda and exhibits thereto state the entire
understanding of Buyer and Seller regarding the sale of the Property. There are no verbal or other written
agreements, which rnodify or affect the Agreement.
b. Counterpart Signatures. This Agreement may be signed in counterpart, each signed counterpart shall
be deemed an original, and all counterparts together shall constitute one and the same agreement.
c. Electronic Delivery. Electronic delivery o documents (e.g., transmission by facsimile or email) including
signed offers or counteroffers and notices shall be legally sufficient to bind the party the same as delivery of
an original. At the request of either party, or the Closing Agent, the parties will replace electronically delivered
offers or counteroffers with original documents.
d. Section 1031 Like-Kind Exchange. If either Buyer or Seller intends for this transaction to be a part of a
Section 1031 like-kind exchange, than the other party agrees to cooperate in the completion of the like-kind
exchange so long as the cooperating party incurs no additional liability in doing so, and so long as any
expenses (including attorney's fees and costs) incurred by the cooperating party that are related only to
the exchange are paid or reimbursed to the cooperating party at or prior to Closing. Notwithstanding Section
20 mbove, any party completing a Section 1031 like-kind exchange may assign th|oAAraement to its qualified
intermediary or any entity set up for the purposes of completing a reverse exchange,
23, ACCEPTANCE; COUNTEROFFERS. Seller has until midnight of 5` business day, (if not filled in, the third
business day) following the day Buyer delivers the offer to accept this offer, unless sooner withdrawn. If this
offer is not timely mucmptod, it shall lapse and the earnest money shall be refunded to Buyer. If either party
makes a future uoumtoroffor, the other party shall have until 5:OOp.m. on the 5 business day, (if not filled in,
the second business day) following receipt to accept the oomntonnffor, unless sooner withdrawn. If the
counteroffer is not timely accepted or 000mtorod, this Agreement shall lapse and the earnest money shall be
refunded to the Buyer. No aoonptamoe, offer or couriteroffer from the Buyer is effective until the Seller, the
Listing Broker or the licensed office of the Listing Broker receives a signed copy. No acceptance, offer or
counteroffer from the Seller is effective until the Buyer, the Selling Broker or the licensed office of the Selling
Broker receives a signed copy. "Mutual Acceptance" shall occur when the offeree signs the last counteroffer,
and the fully-signed counteroffer has been received by the offeror, his or her broker, or the licensed office of
the broker. If a broker does not represent any party, then notices must be delivered to and shall be effective
when received by that party.
24. INFORMATION TRANSFER. In the event this Agreement is terminated, Buyer agrees to deliver to Seller
within ten (10) days of Seller's written request copies of all materials received from Seller and any non-
privileged plans, studies, reports, |nopect|nnp, appraisals, nmmeyu, drawinqn, penni1m, applications or other
development work product relating to the Property in Buyer's possession or control as of the date this
Agreenient is terminated.
25. CONFIDENTIALITY. Until and unless closing has been consummated, Buyer and Seller ohu0 follow
reasonable measuffes to prevent unnecessary disclosure of imfnmnmdon obtained in connection with the
�
|W|T|T|AL3:8UYE DATE 4 /�//&�SELLER DATE
~
oUy(/_^L_/, DATE SELLER DATE __________ �__.
m Commercial Brokers Association "``/
2011 ����.
COMMERCIAL & INVESTMENT REAL ESTATE At.l RIGHTS RESERVED
PURCHASE & SALE AGREEMENT
CBA Forte PS `x
(CONTINUED) Purchase o Sale xomo"nm
Rev. 1/2011
mg^,00f
negotiation and performance of this Agreement. Neither party shall use or knowingly permit the use of any
such itiormation in any manner detrimental to the other party.
26. SELLER'S ACCEPTANCE AND BROKERAGE AGREEMENT. Seller agrees to sell the Property on the
terms and conditions herein, and further agrees to pay a commission in a total amount computed in
accordance with the listing or commission agreement. If there is no written listing or commission agreement,
Seller agrees to pay a commission of 6.00 % of the sales price to the Bnokvr(sLot closing from the proceeds
of closing, Vn rm umcp**Ae*--in(he
Usti
Firm+shall-puy-le-SeU aoun+miseien+ef Y4-of-the-sales phoa—
and-Selling F **a*leo pe*meda+eq*aAs-the,:on»miosiem. If the earnest money is retained as
liquidated dmmaAoe, any costs advanced or committed by Listing Firm or Selling Firm for Buyer or Seller shall
be reimbursed or paid therefrom, and the balance shall be paid one-half to Seller and one-half to Listing Firm
and Selling Firm according to the listing agreement and any co-brokerage agreement. In any action by Listing
Firm or Selling Firm to enforce this Section, the prevailing party is entitled to reasonable attorneys' fees and
expenses. Neither Listing Firm nor Selling Firm are receiving compensation from more than one party to this
transaction unless disclosed on an attached addendum, in which case Buyer and SeHer consent to such
compensation. The Property described in attached Exhibit A is commercial real estate. Notwithstanding
Section 25 ebove, the pages containing this SaoUom, the parties' signatures and an attachment describing the
Property may be recorded,
27. LISTING BROKER AND SELLING BROKER DISCLOSURE. EXCEPT AS OTHERWISE DISCLOSED IN
WRITING TO BUYER OR SELLER, THE SELLING BROKER, LISTING BROKER, AND FIRMS HAVE NOT
MADE ANY REPRESENTATIONS OR WARRANTIES OR CONDUCTED ANY INDEPENDENT
|NVESTUGAT|ON CONCERNING THE LEGAL EFFECT OF THIS AGREEMENT, BUYER'S OR SELLER'S
FINANCIAL STRENGTH, BODKS, REC{)RDS, REPQRTG, STUDIES, OR OPERATING STATEMENTS;
THE CONDITION OF THE PROPERTY OR ITS IMPROVEMENTS; THE FITNESS OF THE FROPERTY
FOR BUYER'S INTENDED USE; OR OTHER MATTERS RELATING TO THE PROPERTY, INCLUDING
WITHOUT L|KX|TATU(]N, THE PROPERTY'S ZONING, B<]UNDAR|ES, AREA, COMPLIANCE WITH
APPLICABLE LAWS (INCLUDING LAWS REGARDING ACCESSIBILITY FOR DISABLED PERSONS), OR
HAZARDOUS OR TOXIC MATERIALS INCLUDING MOLD OR OTHER ALLERGENS. SELLER AND BUYER
ARE EACH ADVISED TO ENGAGE QUALIFIED EXPERTS TO ASSIST WITH THESE DUE DILIGENCE
AND FEASIBILITY MATTERS, AND ARE FURTHER ADVISED TO SEEK INDEPENDENT LEGAL AND TAX
ADVICE RELATED TO THIS AGREEMENT.
Produced °���.=o Id? ,*_og` mo,^"m^,"m,^ Road, Fraser, ,^uv..^^m^ e,W aip/ngi, ."~
|N|TIT|AB: DATE SELLER DATE ________
BuyE. l '� �' DATE SELLER DATE
aoo"n"mu Brokers ""`^/
— Association � l f�'
2011 .� �
C0MMIRCIAL & INVESTMENT REAL ESTATE ALL RIGHTS RESERVED
PURCHASE & SALE AGREEMENT
xo^ Form «n 1A
(CONTINUED) Purchase
Rev 112011
Page 11
28. IDENTIFICATION OF THE PARTIES. The following is (he contact information for the parties involved in this
Agreement:
El= Seller
Contact: NiokCzapla _ _ � ____ Cpukuv�____ _ _ _____
Address: P.O. Box 3840 Address:
Spokane, WA 99220 ___
Business Phone: (509) 343-9000 Business Phone:
Mobile Phone: (509) 2 Mobile Phone: ____
Fax:_ __ (5_11) 343-9060 Fax:
Email: mportio0.Vom EmmN:
Selling Licensee Listing Agent
Name: Daniel Tilley, Heritage Moultray Real Estate Name: Russ Roberts, Mike Abmma, Heritage
Address: 5625 Sumniiitview Avenue, Moultray Real Estate
Yakima, WA 98908 Address: 5625 Summitview Avenue
Yakima, VvA989D8
Business Phone: (509) 248-9400 Business Phone: (509) 248-9400
Mobile Phone: (509) 952-7555 Mobile Phone: (509) 594-7989
Email: d0Uey@hutmaU.com Fax
. ^ Emmi]:wm?aheri(ogmmom|tray.uoon
Address: Sa2e
Address: Same
Business Phone:
Mobile Phone: �� ------'
� Business Phone:
Fax: --------
' -- Mobile Phone:
CBA Office No.: ----- ' —
Fax:
CBA Office No:
Courtesy Copyof Notices to Bu er to: ' --
Name:
Addnsna: Name:
Address:
Business Phone: .
Mobile Phone: ----- —
� BuaimaxuPhone:
Fax:
' --- - Mobile Phone: ...._........
Email: rax Fax:
---
----' .
Email:
IN���L � aVYFR/ v �''/ DAT� ~/ �/^�� SELLER DATE
v
BUYER DATE _�E�BK DATE ����� __
(0co°=°m�o�x Brokers "�° " //mx�
,on \�
COMMERCIAL & INVESTMENT REAL ESTATE ALL RIGHTS masnVEo
PURCHAGE& SALE AGREEMENT Co^ Form pam
(CONTINUED) Purchase usa .^o,"em°n,
Rev, ^mo11
^,y" ,00fo
IN WITNESS VVHEREOF, the parties have signed this Agreement intending to be bound.
BUYER SELLER
Lawrence B. Stone Properties, LLC, and/or City of Yakirna
'/
_ __~___________ Signature &TiMe
SI8moture&Title
Date Signed
C Date Signed J�� 2-m/4
��!/ ' l ~�/�
/ ��5 -//�
|N|�T�L : BUYER / 1 VA ^ `~ SELLER
n//vrx �~ na CFI /rn ourI:
COmmerclal Broke Association —0^
2011
COMMERCIAL & INVESTMENT REAL ESTATE ALL RIGHTS RESERVED
PURCHASE, & SALE AGREEMENT CBA Form PS 1A
(CONTINUED) Purchase & Salo Agreement
Rev. 112011
Page 13 of 13
EXH AC1 1ED
INITITIALS: BUYER ; DATE 7 1; 7/4 SELLER DATE
BUYER DATE. SELLER DATE
4 1/ A y Title Gisarlritee
1 !le C
#
4 11 # (009)248-4442 • www.vtgeo.com
r re p a re 1.4 by Renee McGuire
reneem@vtgoo.com
‘
YAKIMA COUNTY PROPERTY PROFILE
Parcel #:19T32931549
MCR #:
Owner: City Of Yakima
129 N 2nd St
Yakima WA 98901-2613
Owner Phone:
Site:1606 E Nob Hill Blvd
Yakima WA 98901
Neighborhood: C301
Census:1005 001502
Land Use:55 Retail - Auto
Std Land Use: CSTO - STORES, RETAIL
Twnifing/Sec:T: 13N R: 19E S: 29 Q: SW
L 29 Township 13 fiange 19 Quarto( SW: Plat CHAS. SIMPSON'S FIVE ACRE TRACTS (A-64): Lot 7 EX E 25 FT,
AND EX S 348,8 FT, AND EX W165 FT OF S 524 FT
ASSESSMENT & TAX INFORMATION PROPERTY CHARACTERISTICS
M Total: $297,800 Year Built: 1980 (1981 eff)
:
Market Land: $251,600 Bedrooms 0
Baths: 0.00
Market Impr: $46,200 (16%)
# of Stories: 1..00
Market Other: $0
Bldg Type: STORAGE WAREHOUSE
Assessed Total: $0 (2015) Lot Size: 1.38 Ac (60,113 SF)
2015 Taxes; $0 Exterior; METAL.
Levy Code: 334 Foundation: YES
Levy Year: 2015 Condition: VERY-POOR
:
Levy Rate: 12.70219595 Lot/Block 7 /
Plat/Subdiv: CHAS, SIMPSON'S FIVE ACRE
TRACTS
SALE & LOAN INFORMATION
Zoning: GC General Commercial
Sale Date: 2/27/2014 School Dist: 7 Yakima School District
Sale Amount: $866,411 Watershed: Wide Hollow Creek-Yakima River
Docuinent #: 0007832289 View: NO VIEW
Water/Sewer: PUBLIC / PUBLIC
Deed - 1 - ype: Grant Deed
Sidewalk: Yes
Loan Amount: $0
Addtni Info: VACANT
Lender: Heat/Cooling: SPACE-•EAT (100%)
Loan Type: Comm Use: COMMERCIAL
Interest Type: Comm Area: 7,500 SF
Title Co: VALLEY TITLE GUARANTEE Lighting: AVERAGE
Selthy R,rterrics, ar,le, o.telorrters nett e n n sNet t ee er ccrohtt■ene express or itr gq ei se Me the aecut cr lets o i thte repctel
_
V,
II 1II I 11 1L I1 ! 1111 II 1I II
rt- 7 8 3 2 2 8 t1
SITUP 7832209
YAKIMA COUNTY, WA
02/23 /2011 03: 10:31P11
UFO
AFTER R EcoRDING L KT!) R N (PIS:
1.1141.EY flit( Litt iled for Record at Request of and
C'opy Returned to; ftererdirg fee: MAO
Todd Reuter
K&I„, Gates 110
618 W, ri Avemi Suite 300
Spokriae, WA 99201-0602
WASIdIN(;TON STATE ItECORDER'S COVF,11 S IUC r ex 1'3
[)octiment
I. BARGAIN AND SALE DEE))
itcrecenee csloolbcr(s) or Documents or released:
Grantor (Last mune, First name, initials)
TIGER OIL CORPORAT1()N
(41;nEce (Last name, first name, initials)
CITY 01 YAKIMA.
.!
lAtgall)escrilition (abbriwialcd: 1. lot, 1)l) ck, plrit or section, township, range)
Parcel A, Pin of lot 7, ( SIMI'SON'S FlVE ACVL TRACT'S, A-64;
Parcel fl, Pin of Gordon's 11iGHWAY TItA(IS, 1.22 AM') Pols of Imis
and 16, 1-22; Parcel C, Pin of the NW'/ or14 SF/, see, 26, Two 13, R 18
Parcel D, or the SY/VI! or The N1'/, Sc 2, Twn 13, R$„!, 18
YAKIMA COUNTY, \VASIIINGION
Ncl Additional lopil descriRtion is on Fshibit "A" of docurnent„ 6.
Asscirsor's rroperly Txx l'arceItAccriont Numbers
191329.,31549, 181312 181326 181321-13014
COUNTY 41, 11,- TAX
DATE MR 2 7 2014
PAID, $ //4 ° 9
REC.10,
4 '3 4 7 (3 3,
Yakimo, Cipoty ir surtr'o
Yakima county
. .
._........... .....................„.„........................................ ..........
..............................„„.
1,•
................„.„„..„ . . .
....
— - . .... . • , . „ ...... . • • •• , - . • , , .. ,. . „, ,..,„........„„ ,. .„,..„,„.„...„,.„,..„„,..,.,..„.„..„„.,.......„......,,,„.........„,„..._„..„
. —
. .
. .. .
HARGAIN AM). •SA11...,•E 'DEE!)
che Grantor„ TIGER OB., CORPORA TION, an Idaho corporation„ whose address
is PO Box 772, N4eridian„ Idaho 83680, for and in consideration of' 1er) 1:/olla1s ($10,00)
and Whet good and valuable consideration,. in hand paid, bargains, sells, and conveys to the
Cirantee, ClI OF YAKIMA, a munieMd . corporation, whose address is 129 North 2"
Street, Yakima, Washington 98901, the foliowing-describcd real estate, situated in he
County of Yakima, State of Washington:
I...cgat Description of Properly attached hereto as..E,xhibil "A".
And all kupro•vemcnts thereon,
(the "Property").
Grantee acknosvledges that Grantor has not ()coil:tied the Pror.t•ty: since
appr'oximately 2002 and has incomplete knowledge of its condition or whether or not any
defects exist thereon, Git.ANT(.)rt. Dots NOT WARR.ANT, EITIIEtt, EXPRESSIN
OR IMPLIEID....X, TIIIE CONDI1,10N OR FITNESS 0.h "111E PROPERTY
CA/NA/EYED HEREUNDER (ANY SUCIII WARR„A„NTY 11.111N(.; FIER/13Y
EXI NE(;ATED) AND GRANTEE AtIATPTS SAID PROPlERTY "AS IS,
'WHERE IS, WIT111 AU, ..FA.t..wrs" INct...AJDING, MIT' NOT I...,IMITED TO, THE
ENVIRONMENTAL CONDITION OF 'HIE PROPERTY.
IN WrINESS WHEREOF, the Gran.tor has caused its name to he s.igmd to these
presents by its drily authorized officer or representative as of the dd tr,:! first at aive w"rit.ren,
..............
DATED this ,,,,....,,...1/ of :j..cri 2014,
GII.ANTOR:
TIGER. 011, CORPORATRYN,
an Idaho corporation , v
BY: . ,,-- '' .1 .. .. • , .1. .e.,..,
'
C 'fri ('''' • i) ;;'' '
les Conley • .6
h's "'resident
PAG1 1 1.
..................................Y.AkimpLownlyAkdbx. ...„El1 e..... .„. ....1 ?...09p 2 .... 7 ..................„...................„.„..„ ...
...„...„.....................„.„...............
__ '_ _ ~____
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STATE 0p111-)A810 )
: ss
Couoty �l' Ad )
()o h�
� h��« me personally appealed
[ANTS Ci ___,., ~ me ~~... o he "," President of /wEm u/1, CLxn)eA�U0N
Um| executed die K�num m8 instrument, and acknowledged the said �nnwm� 0n b* the -`
and voluntary act wrTK8K 01L CORJY�<�|(�N �n �|� �� `^
�
~ '
~ ' , uses purposes therein mcndonpd, and mn*aU'mn|md that }�* was xu;&^rizcd [|— ` \hon
| »ammmwm�ntwm6o�mi[
. ofTK�OB01�COR}�>�AII0yJ. the
/ GIVEN 1INOER MY HAND AN()oPFICIAL SEAL the ����io�
moUQom�On�above nr�rm. '
,
, �
l' ,,./ ,', , , 1*1 , 1
.~*w,mw"� �___ February 4, 2014
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1
EXHIBIT A
PROPERTY CON V Y ED
I A
,,I6061, Nob HilLBBILYstkiktiat
Ehe West 165 feet of the North 125 feet of 1,,ot 7, CHAS SIMPSON'S
TRACI'S, recorded in Volume "A" of Plats, ['age 64,
EXCEIY1 the 'West 20 feet,
ANI) EXCEPT the fast 5 feet oldie West 25 feet of the North 59 feet thereof,
ANI) the tiast 50 feet of the West 215 feel of the North 150 feet of Lot 7, CI IAS
SIMPSON'S FIVE, ACRIFS TRAC TS, according to the official Plat thereof recorded
in Volume "A" of Plats, Page 64, records of Yakima County, Washington,
AND
Imt 7, CHAS SIMPSON'S FIVE ACRE, 1RAC1 5, as recorded in Volume "A" of
Plats, Page 64,
EXCEPT the West 165 feet,,
AND EXCEPT the South 348,8 feet,
AND EXCEPT the East 50 feet of the West 215 feet of the North 150 test ,of said Lot
ANI) EX( ERI the East 25 feet conveyed lo YCW for road by deed recorded under
Auditor's File No. 25718[3,
Situate in Yakima Connty„ State of Washington.
Yakima County Assessor's Parcel No. 191329-31549
l'ARCEL B
1,1I08LN, First Street, Yptsitpg,
That part of GORDON'S IIRHIWAY TRA(TS, recorded in Volume "I" of Plat„s,
Page 22,
ANI) that part of the South 870.00 lcd of thc West 1/4, olthe Southeast 1/4 of the
Southeast 1/4 of Section 12, Township 1,3 North, Rage 18, LWM,, bounded as
follo■Ys.
Beginnity, at the Northeast corner of Lot 15 sad Plat of GORDON'S IIIGIJWAY
TRACTS, 24' West reference hearing, along the Easterly line, of said Plat of
GORDON'S
HIGHWA Y "TRACTS, ALSO BEING TFIr Westerly right of way line of North, First
Street, 170,00 fret to a point which iS 5.00 feet South 0 24' West of the Northeast
PAGE 3
Flip )832289 P'99
EX,11111131 A (Confirmed)
corner of Lot 12 of said Plat;
thence North 89'40' West, parallel with the Northerly line of said Plat„ 155.00 feet;
thence North 0' 24' 1st 170.00 feet to the Eitsterly extension of the Northeast line of
Lot 15 of said Plat;
thence South 8940' East 155.00 ,leet to dic point of beginning.
ToortHrR, wrrri an easement for ingress and egress Over and across that pad of
Lot 17, (,,K)R19()N'S HIGHWAY 'TRACTS areorrling to the official Plat thereof,
recorded in Volume "1" of Plats, Page 22, bounded as follows:
Commencing at the Northeast corner of said Lot 12, said point lbeing on th(!, Westerly
right of way line of the North First Street;
thence South 0 24' West, reference bearing, filong the Easterly line of said 11,o1, 12,
,
also being the Westerly right ol ‘vay line of North First Street, 5.(10 feet to the point of
beginning;
thence South 0" 24' West 30,00 feet;
thence North 63'05'70" West 67.05 feet to a point which is 5,00 feel South 0" 24'
West of the Northerly line of said Lot 12 and 60.00 feet North 89'40' West of the
pohil, of beginning;
thence South 89"40' East parallel with the Northerly line of said Lot 12, 00,00 feet to
the point of beginning.
ANT) TOCIF111ER WITH a non.exelusiye, pet portal easement cif ingress and egress
with the tight to remove all existing improvements to improve and maintain with hard
permanent surface, and to provide curb erns to abutting streets over and across the
fol lowing described property:
Commencing at a point on the East boundary of Lot 16 of (10R1.)f)N'S 111(111. \VA Y
'TRACTS, according to the official Plat thereof, recorded in Volume I," of Plati Page
22, records of' Yakima County, Washington, 30 feet Noith of the Southeast corner
thereof;
thence Southerly along the East boundary 30 feet to the said Southeast earner;
thence Westerly along the South boundary of said lot 16, 60 feel:
thence northeasterly in a straight line to the point of
Situate in Yakima (unty, State of Washington,
Yakima County Assessor's Parcel No 1181317
PAGE '1
YkUm Covay Ambler ro Pimp 5 (II
„ „
. _
EX11111131T A (Continued)
yAktCEL. lc!
23j2 W, Nob !fill .131v11,,y,Acirrill
The North 141 feet of the West 147 feet of the Northwest 'A of the Northwest !,/, of the
Southeast 'A of Section 26, Township 13 North, Range 18, k,,W.M„,
ff,XCEPT the North 26 feet and the West, 20 feet,
AND EXt:Ell'i those portions conveyed to the. Crty of Yakinm by 1)eeds recorded
Ocmtier 16, 1064, under Auditor's File Nos, 2014381 and 2014382., and recorded,
January 20, 1987 under Auditor's File No, 2787766,
AND. that portion of the, Northwest '/ of the Southeast 1 /4 of Section 26, 'fownship 13
North, Range 18, E,W.M., as described as follows:
(ituriencing at the Northwest C011ter 01 said subdivision;
thence South along the centerline 0124 Avenue South, a distance of 141„00 feet, said
centerline being the West line of said subdivision;
thence. South 8917'00' East a distance of 28.50 feet to the Fasterly margin of said
24 Avenue South and the true point of beginning;
thence continuing South 89'17'00" East a distance of 118,50 feet;
thence North on a line parallel with the West, line of said subdivision 115.00 feet to the
Southerly margin of Nolo Hill Boulevard:
thence South 89°17'00" Last along said Southerly margin a (listani.:e, of 40,00 leek
thence South a distance of 132 feet;
thence North 89"1"700" West a distance of 158,51 feet to the kasterly margin of 2
AVOIRIC South;
thence North along said Easterly margin a distance of 17.00 feet to the true point of
beginning.
Situate in Yakima County, State of Washington,
Yakima County Assessor's Parcel No, 181326-42051
PARCEL
kiln a,
The South 160 feet of the West 160 feet of the Soutlovest 'A of tk Soildowest ¼ or th
Northeast 'A of Section 21, Tmvriship 13 North, Roago 18,
PAGE 5
Yakima County twdilm_ raw 91 „
EXIIIBIT (Continued)
EXCEPT the South 40 feet and the West 10 feel for roads.
Situate in Yakima County, State of Washington,
Yakima (ounty Assessor's Parcel No 181321-11014
TOGETHER WITH all improvements thereon.
A012.EEMENTS C(NVEYF,D
1. All rights, if ally, of Tiger ()d Col p(rain in the following agreements
Conti(lentia1 Amended. 'Trust A,grecment dated June 17, 2004, including
'Tiger's right to use funds held in said account consistent With thc trans of
said Confidential Amended Trust A wenn:Alt
b. A Site Access Agreement bet‘VCGO ijc; Oi Corporation. and 1 Iii ee Sisters
dated May 24, 2012,
c. A License and Agreenterit 1.6r Site Access and Lfsc between Tiger Oil
Corporation and Yakima SC ASSOciates,d,i,C, dated May 24, 2102,
d. A License Agreement for Site Access between Til!,er Corporation and
M&II Company, dated July 21, 1997,
c. An Access Agreement between Tiger Oil C,orporation and fluce Sistrls
llolding, 1,1,C dated July 17, 2006
MU', 6
11.151:3
.„ „ „ worm) Co„wity.Audi4yr.„ FAQ f„..?„0,;,9,?.09 Pago 7 of 7
„...
....._ _ _
Yakima County GIS . Washington
rani my.]
II. i v 7i li f f A
:Close MaP1 „ ,,,, ,IP Po" ,14 1: hp , I P i rd p 50 1 I 1,, I
Land information nrtal
01
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o
1 (y) 1
4 4 1
1 (N1
I 1
1 I
1 2 3 4 i 5 6 7 81
1 1
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E Nob Hill Blvd
, .1, ,,,,,, .1
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1 I 1
1 I
31429 3142 , I II Sin ' OP ‘ '6 1 , A A04. 1,05
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\ 'AN
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31549
2 1 1 f r - 7
ol t 3
1 ,
1 7321158
1 ,
6 131445
3 3144
.1--- 1
1
1 1 1
1 1
1 3$574
, CO 7321158
31451
8
31433
1 1--- 31 i 1 3/1576 , 1 • , in
7321158 31557
31435 10 (C) 7321158 1 1 701/958
1 1 1
1 1
'
31423 31420
31437 12
52, 82.
I 1 ,
,.
t 1
31419
14 31422 31559
31439
L
.....,,, ,....,_ _ ...., i
17 " ; ,---..........
Map Center. Range:19 . fownship:1 3
. Saction:29
■I' A C.„ 411/4' 4 ik„ WINVONAKIMA 0 COM
Valdivia County GIS
1 t
128 II 2nd Street
YakItna, WA 98901
(609)574-2992
y ' 01, 1171
0 na Inch 100 Feet
,.., ompagmempuo, PIIMINIMMINNINVI
Feet 50 100 150
PAR AMCEP ,AT 010 CPC APPetifigfe "our ACCURACY m NOT iTITAKANTERTIEal§aEi E701 A ITEFEV
DOCUMENT ANO SIMLA D NOT RE SUBSTiTUTED roR A r il LE SEARCH, APPRAISAL, SORVE Y, FE 000PLAN OM /0E1100 11
V! 011 ICATiorr NNE a Oa 1E2/12010 4 EVE 44 00
I
Print This Page
Parcel Number Sittis Address (Ise Code TCA Size NM)
191329-31549 1606 E Nob Hill Blvd, Yakima 55 Retail - Auto, Marine, Mirror], 334 1.38 C301
Owner(s)
City Of Yakima
Abbreviated Legal Description
Section 29 Township 13 Range 19 Quarter SW: Plat CHAS. SIMPSON'S FIVE ACRE
1 RACLS (A-61): Lot 7 EX F 25 If, AND EX 5 348.8 Fr, AND [X W 165 t i' OF S 52411
Detailed Information for Detached Structure *5
Structure Type: Storage-Shed Quality: Lovi-Cost Condition: Salvage
Construction: Masonry-Wall Colist. Ty p e : Work Foundation: Concrete
Ext. ,", all Type: Block Roof Type: Metal Roofing Material: Flat
Flooring: Cocrt-Slab Year Built: 1901 Stories: 1,00
Measure 1: 15 Measure 2: 10 Main Finished 150
Upper Finished: Fixtures: Wood Stove(s):
Detailed Information for Land Record #1.
I„,and Flag: CMLT Soil Class: Calc. Open Space: No
Water Source: Public Sewer Source: Public Flood Plain: No
Lot Shape; Irregular Topography: Level Land View: No View
Landscaping: None Value Method: 5q-Feet Lots:
Squarefeet: 60,112 Acre(s): 1.380
Detailed Information for Commercial Section #101
Building Type: Storage Warehouse Quality: 1 ow-Cost Condition: Very-Poor
Ext. Wall Type: Metal Year Built: 1980 Ground Floor: 7500
Stories: 1.0 Foundation: Yes Construction: Metal-Frame
Heat/Cool Type: Space-ileat
1
Commercial Group Commercial Group , Use Code Base Floor Area Number of Floors
101 1 Storage Warehouse 1 7,500 1.00
Utility Informatlom(ind/cates utility is available at parcel boundary)
Gas: Yes Electric: Yes
Water: PO blIc Sewer/Septic: Public
Site Information:
Property Type: Government Owned Zoning: Gc
Street Type: Two-Way Street Finish: Paved/Asphil
Traffic: Heavy Side Walk: Yes
Curbs: Yes Location: Corner
Sales Information
Excise # Grantme Sale Date Sale Price Document Type
or Na
434763
:119er 00 Cork-Idaho
02/21/2014
$744,724 Bargain and Sale Deed No
No
1 here are no segregations related to this parcel in the database,
Tax Breakdown Information*
' Note; These are not guaranteed tax amounts. They may have rounding errors and are only an indication of what taxes
would be If this parcel were taxed at current values for this 'fax Year, In addition no assessments will be included on this list
(irrigation, road improvement etc.)
T ax Kcal' 2015
County Hood Conti str"
Yakima County
Yakima School Bonds
Yakima School M8(0
Yakima Valley Regional Library /17615861 $0.00 00000000 00
1
1
1
Regular Rate Regular Tax Excess Rate Excess Tax
County Ems
.24814:391
.09024832
2,26449492
3.1238/403
1.70037791
00000000
.00000000
$0.00
$0.00
$0.00
$0.00
$0.00
$0.00
$0,00
.0000000a
.00000000
00000000
00000000
.00000000
1.68345866
3.11543959
,' $0.00
$0.00
State School Levy
,„
$0.00
Yakima City
$0.00
$0,00
_
$O MO
$O.
Tax Year 2014
District Regular Rate Regular Tax Excess Rate Excess Tax _
County Ems 25000000 $4.13 .00000000 $0.00
-- $0 0 0 9
County Flood Control .09131481 $1 11;
.62 .00000000
State School Levy 2.61189775 $16.34 .00000000,
_
Yakiina City 3.11078596 :1' .00090000 A0.00,
Yakima City Bonds .00000000 $,0.00 . 0197 12 53 .„ . ..,$
_ .
Yakima County 1.76457913 1,31.27 .00000000 $0.00
Yaklma School Bonds
.00000000j $0.00 1.70093207 I $30.15
YaOnia Schod M&C.I) .00000000 '0 00
$ 3,13157859 $55,50
Yakima Valley Regional Library .48121906 $8.53 .00000000 $0,00
tlr is pr of) ert yi,s6 ody C Excirept, NO ilia hit g k41.ild 11 JO t th t 101(:".
WhliC this Inforrnatlon Is Intended to be accurate, any manifest errors are unintentional and
subject to correction.. Please feel free to contact us about any errors you discover and vre will try
to correct then) as soon as possible, Ito contact us call either (509) 5/4-1100 or (800) 5/?-
J34, or e us Fit