HomeMy WebLinkAboutR-2016-032 Disposition of Surplus Property at 1606 East Nob Hill BoulevardA RESOLUTION
RESOLUTION NO. R-2016-032
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 1St day •f Mar , 2016.
ATTEST
in utierr
��. . Gli
SoM Claar Tee, City Clerk
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: Interim City Manager
STAFF RECOMMENDATION:
Adopt Resolution, approve Purchase and Sale Agreement.
BOARD/COMMITTEE RECOMMENDATION:
ATTACHMENTS:
Description Upload Date
D resdutlion 2/25/2016
East Nob 141111 and leth Street II V.), Further' Action (WA)
7/18/7016
Stone & City -Purchase & Salle Agreement. (1606 E Nob
2/18/2016
141111 \al)
Type
Omer Memo
Back up Materna°
Contract
1.251) 10
Brett Sheffield, Chief Engineer
City of Yakima
129 N. 2nd Street
Yakima, WA 98901
December 8, 2015
Ilf llf "VIII WS III1 III I„„ „U I"SU
ass (ap, WA f)8903.-0009 • 65(1 4) 5 ')
Re: No Further Action Determination for:
RECEIVED
DEC 10 2015
ENGINEERING
Site Name: Tiger Oil — 16th 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.
Si .c r y,
Valerie Bound
Section Manager
Toxics Cleanup Program
COMMERCIAL & INVESTMENT REAL ESTATE
PURCIIASE & SALE AGREEMENT CE3A Form PS 1A
(CONTINUED) Purchase & Sale Agreement
Rev. 1/2011
Page 1 of 13
ri Commercial Brolkeis Association
2011 C.
ALL RIGHTS RESERVED
This has boon prepared for submission to your attorney for review and approval prior lo signing"
No representation is made by licensee as to its sufficiency or tax consequences
Reference Date: February 3, 2016
Lawrence B. Stone Properties, LLC, and/or Assic ns, ("Buyer'') agrees to buy and City of Yakima
("Seller") agrees to sell, on the following terms, the commercial real estate and all improvements thereon
(collectively, the "Property"), approximately 138 acres, addressed as, 1606 East Nob Hill Boulevard, Yakima,.
Washington 98901, (Assessor's Tax Parcel Number: 191329-31549), 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 only one):
O All cash at closing with no financing contingency.
CI All-cash-ot-closing-contingent-on-new-finansing-in. accordance -with -the Finansing-Acidendurri-
(ailachGBA
Perrn-RS-1144).
ac
at- lesi cif -with -1h e -ba I a n se-of-tbe-pu rehase-pa ia-as-fol le (eh eck- One--Or-both7
applicablay Q-Buyer'c assumptior--1-of-the-eutstanding-principai-taalance-as-ef-the Glesing-Date
ef-a-ficst-lien-ilete-and-deed-ef-tfust (or-mer-tg-ago)--or r al o:...tate contract, in -accordance -with -the
n
F-ia-AddeRdwim{aUaeh-GA-Ferrn-PS_FiN-)i
LJ Buyer's delivery at closing of a promissory note for the balance of the purchase price, secured
by a deed of trust encumbering the Property, in accordance with the Financing Addendum (a(tach
CBA Form PS_FIN).
O Other:
2. EARNEST MONEY. The earnest money in the amount of 2 5 , 00 0 .00 shall be in the form of
FJ Cash El Personal check LlPrornissory note (attached CBA Form EMN) MOther: Wire Transfer
The Earnest Money shall be held by 0 Selling Firm [1 Closing Agent. EJ Selling Broker may,
however, transfer the Earnest Money to the Closing Agent. Buyer shall deliver the earnest money
no later than: 0 5 da_ys after Mutual Acceptance. LI On the last day of the Feasibility Period
defined is Section 5 herein.
If the earnest money is to be held by Selling Firrn and is over $10,000, it shall be deposited to: El
Selling Firm's pooled trust account (with interest paid to the State Treasurer) [JA 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
Acceptance, 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 price.
INITITIALS: BUYER
BUYER
DATE
DATE
SELLER DATE
SELLER DATE
COMMERCIIL & INVESTMENT REAL EST/TE
PURCHASE & SALE AGREEMENT
(CONTINUED)
3. EX1IIF3ITS AND ADDENDA. The folIowng Exhibits and Addenda
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 UtlIiLy Charges Addendum, CBA Forrn UA
O FIRPTA CertificaUon, CBA Form 22E
O Assignrnent and AssiJrnptiOni, CBA, Form PS -AS
[] Addendum/Arnendment, CBA Form PSA
O Back -Up Addendum, CBA Form BUA
O Vacant Larid Addendum, CBA Form VLA
U Financing Addendum, CBA Form PQ_F|N
O Tenant Estoppel Certificate, CBA FPS_TEC
O Defeasance Addendum, CBA Form PS_D
O Other
F./Commercial Brokers Association
2011
ALL RIGHTS RESERVED
m
CBA Frri PS 1A
Purchase uSale /m,=munl
Rev. 1/2011
Page cmm
are made a part of this Agreement:
4. SELLER'S UNDERLYING FINANCING. Unless Buyer is assuming Seller's underlying financing, Selier 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 required to substitute securities for
the Property as collateral for the underlying financing (known as "defeasance"). 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 PSD 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 Uhis condition is satisfied. If such notice is
timely given, the feasibility 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 incIuding: 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 aH 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: (i) wheth will agree to terminate any objectionable Vendor Contracts; and (ii) whether Seller
|NITITIAu : BUYER
BUYER
�����
DATE ~ SELLER
DATE SELLER
DATE
DATE
mCommercial Brokers xss" .w"
znn
COMMERCIAL & INVESTMENT REAL ESTATE ^uRIGHTS RESERVED
n//�ruuxr�nu/�unm����mr
'~~~~'~~~`'-~-`_~�~^'~`^ CBA Form pSm
(CONTINUED) Purchase xSale Agreenent
Rev L/2011
Page amm
will agree to pay any damages or penaties 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 tnnen\a. to conduct inspections
concerning the Property and impn/vemonta, including without |imihohon, the structural condition of
improvements, hazardous moteria|s, pest in0aobmUom, soils oondiUona, sensitive areas, mmUandu, 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 (he 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
noquired byRCVV84.UO.
Commencia|, and-iftha answer -to any-*f-the-questions-in+the-u*ution-of-the-Femn 17Cernmmrdu|ontiNoU
" "),v*ukd-b+�y*u," then-Buyer-does-net-waive-the'`EovA*mn+*mta|"section of -the
F -um+ 1-7c-Commem|a| wh|oA-shallbe'provided-by—SoUa* Said Form /7'Cummeroia/shall Oosupplied 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 Bvuker, Selling Broker or Closing Agent, at
Seller's expense, to apply for and deliver to Buyer a G5 standard D extended (utunduod, 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 of Seller's 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 originaI title insurer. Otherwise, the party applying for titte insurance shal 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|mm of the Feasibility Period. This Agreement shall terminate and Buyer shall receive a
refund of the e/a ley, less any costs advanced or committed for Buyer, unless within five (5) days
BUYE DATE 2° /6P SELLER DATE
BUYER'
____DATE S{&ERDATE
COMMERCIAL & INVESTMENT REAL ESTATE
PURCHASE & SALE AGREEMENT
CBA Form PS 1A
(CONTINUED) Purchase & Sale Agreement
Rev WW1
Page 4 of 13
of Buyer's notice of such objections (1) Seller agrees, in writing, to remove all objectionable provisions or (2)
Buyer notifies Seller that Buyer waives any objections which Seller does not agree to remove, If 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 he delivered
within five (5) days of delivery of the supplemental report and Seller's response or Buyer's 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; provided, however, that the lien securing any financing which Buyer has agreed to
assume shall be a Permitted Exception. Except for the foregoing, 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 payment 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 shall contain no
exceptions other than the General Exclusions and Exceptions common to such form of policy and the
Permitted Exceptions,
7. CLOSING OF SALE. This sale shall be closed, on or before, at Buyer's option, April 15, 2016, subject to the
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, Yakima, WA 98901,
("Closing Agent"), (Seller-shall-seleet-t-n-e—Glesing-Agent,-if-not completed) Buyer and Seller shall deposit with
Closing Agent by 12:00 p.m. on the scheduled Closing date all instruments and monies required to complete
the purchase in accordance with this Agreement "Closing' shall be deemed 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 he
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 defeased 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,
8. CLOSING COSTS AND PRORATIONS. Seller 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 allow 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 Seller. Buyer shall pay to Seller at Closing an additional sum equal to any utility deposits or
mortgage reserves for assumed financing for which Buyer receives the benefit 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 classificat'on prior to Closing, then Seller shall pay all taxes, interest, penalties, deferred taxes or
similar items w ult from removal of the Property from the deferred classification. At Closing, all
INITI NAB: BUY 1 DATE 14' SELLER DATE
Commercial Brokers Association eB ,
2011 .1 .
ALL PALM'S RESERVED
BUYER DATE SELLER DATE
1) Commercial Brokers Associa2toioiri) Gua
COMMERCIAL & INVESTMENT REAL ESTATE ALL RIGHTS RESERVED
PURCHASE & SALE AGREEMENT
CBA Form PS 1A
(CONTINUED) Purchase & Sale Agreenent
Rev. 1/2011
Page 5 of 13
refundable deposits on tenancies shall be credited to Buyer or delivered to Buyer for deposit in a 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.
a, Unpaid Utility Charges, Buyer and Seller 0 WAIVE 0 DO NOT WAIVE (do not waive if neither box
checked) the right to have the Closing Agent disburse closing funds necessary to satisfy unpaid utility charges
affecting the Property pursuant to RCW 60.80. If "do not waive" is checked, then attach CBA Form UA ("Utility
Charges" Addendum) to this Agreement,
9, POST -CLOSING ADJUSTMENTS, 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 bills 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 (15)
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 Seller for delinquent rentals owed for a period prior to closing. The amounts
applied for the benefit of Seller 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 agreements or leases (except that Seller may enter into, modify, extend, renew or terminate
residential rental agreements or residential leases in the ordinary course of its business), 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 withheld.
11. POSSESSION. Buyer shall be entitled to possession L on closing CI (on closing, if not completed). Buyer
shall accept possession subject to all 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 Buyer, or in the title report or any supplemental report or documents referenced therein,
Seller represents to Buyer that, to the best of Seller's actual knowledge, each of the following is true as of the
date hereof; (a) Seller is authorized to enter into the Agreement, to sell the Property, and to perform its
obligations under the Agreement; (b) The books, records, leases, 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 laws, regulations, codes and ordinances; (d) Seller has
all certificates of occupancy, permits, 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 Property, and the Property is not within the boundaries of any planned or
authorized local ' v ent district; (g) Seller has paid (except to the extent prorated at Closing) all local,
state and fed r 6s other than real and personal property taxes and assessments described in Section 8
INITITIALS: BUYS
BUYE
DATE X SELLER
DATE SELLER
DATE
DATE
iV,/om°nv Brokers ��w. °""/
-- cue/ ~~~
COMMERCIIL & INVESTMENT REAL ESTATE ALL RIGH roRESERVED
PURCHASE & SALE AGREEMENT
(CONTlNUED) muo�,8. Sale NJ/emit:al
Rev. 1/2011
cn*�mmm
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 held liable after Closing; (h) Selier 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
manner 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; (ii) Seller hereby disclaims, and Buyer hereby
waiveo, any and alt representations or warranties of any kind, 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 sale 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 persorial property shall be $<if not completed, the County -assessed
value if available, and if not available, the fair market 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
COflVG 1 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 right, 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 in, on, or to, any land, hiOhway, mtroet, road, or avenue, open or pmpoaod, in, on, or across, in front
of, abutting or aqjoining the Property; all rights to utilities serving the Property; all drawinUa, plans,
specifications at t architectural or engineering work product; all governmental permits, certificates,
UN|TITN1S: BUYER
BUYER
DATE
DATE SELLER DATE
SELLER DATE
�Commercial Brokers *ss" mllon
2011 /134
COMMERCIAL & INVESTMENT REAL ESTATE ALL RIGHrs RESERVED
PURCHASE & SALE AGREEMENT
CA Form I'S IA
(CONTINUED) Purchase & Sale am,00.e",
Ro"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 deductible provided for in the policy.
16.FIRPTA - TAX WITFIHOLDING AT CLOSING. Closing Agent is instructed to prepa a certification' (CSA or
NWMLS Form 22E, or equivalent) that Seller is note "foreign parson" within the meaning of the Foreign
Investment in Real Property Tax Act, and Seller 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 CSA 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 upeci8ed, 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 Buyer, 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
address, fax nurnber, or emai 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 event starting the period and shall expire at 5:00 p.m. of the last calendar
day of the apo period of time, unless the last day is a Saturday, Sunday or legal holiday as defined in
|NITIT|AL : BUYER DATE ‘1/4SELLER DATE
BUY DATE SELLER DATE
fTiiCommercial Brokers xssnmmwv ~"^^�
m* �{0�
COMMERCIAL & INVESTMENT REAL ESTATE ALL RIGHTS RESERVED
PURCHASE & SALE AGREEMENT
oeAForm pv`*
(CONTINUED) Purchase
Rev. 1/2011
Payer eu,,
RCW 1.18.058. in which case the specified period nftime 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 Satmrdayw. Sundays or
legal holidays. Notwithstanding the foregoing, references to specific dates or times or nurnber of hours shall
mean those datoo. times or number of hours; provided, hoxvover, that if the Closing Date falls on a Satun1py.
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(ateLCommomia| Group, represented the Buyer, and Russ
Roberts and Mike Abrams, Heritage Moultray Real Estate, Commercial Group, 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 ofReal 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 with the Buyer identified in this Agreenient. 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 Agreernent provides
for Seller to finance a portion of the purchase price, then 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 excuse, to complete the purchase of the Property,
(hon (check one):
GO Seller may terminate this Agreement and keep the earnest money as liquidated damages as the sole and
exclusive rernedy available to Selier for such failure; or
O Seller may, at its option, (a) terminate this Agreernent and keep as liquidated damages the earnesmoney
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 damages, or
(d) pursue any other rights or remedies available a1law 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 Agreemenand recover all earnest money or
fees paid by Buyer wheter 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 informed Buypr writing that Seller will not proceed with closing, whichever is earlier; or
7
|N|T[nAL : BUYfR,,
DATE
DATE
SELLER DATE
SELLER DATE
�Commercial Brokers Association
2011
COMMERCIAL & INVESTMENT REAL ESTATE ALL RIGHTS neERVeo
PURCHASE & SALE AGREEMENT
m�^�"mwp�mpnm
(CONTINUED)
Rev. 1/2011
Page e*`3
O Buyer may, at its option, (a) bring SUR against Seller for Buyer's actual damages, (b) bring suit to
specifically enforce this Agreemerit arid 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 against 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 odocuments (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, then 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 this Agreement 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`h 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 mcomptod, it shall lapse and the earnest money shall be refunded to Buyer. If either party
makes a future coum8ynoffor, the other party shall have until 5:OOp.m. on the 5m business day, (if not filled in,
the second business day) following receipt to accept the counteroffer, unless sooner withdrawn. If the
counteroffer is not timely accepted or 000mtomd, this Agreement shall lapse and the earnest money shall be
refunded to the Buyer. No acceptance, offer or counteroffer from (he 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 momptyes to prevent unnecessary disclosure of imfnmnmdon obtained in connection with the
DATESELLER DATEBU DATE DATE SELLER DATE__________
INITITIALS: BUYER,
Commercial Brokers Association
2011
COMMERCIAL & INVESTMENT REAL ESTATE At.l RIGHTS RESERVED
PURCHASE & SALE AGREEMENT
CBA Forte PS 1A
(CONTINUED) Purchase & Sale Acireeirent
Rev, 1/2011
F'age 10 of
negotiation and performance of this Agreement. Neither party shall use or knowingly permit the use of any
such information 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 Broker(§Lat closing from the proceeds
of closing. Th e-GOMMi &skin shall-be-appeFtiened-between-Listing-Firm-and-Selling-F-IfM as s pee. ifie d-in-t he
ny—se-larekoFage-agroomentAf-thero is-ne-lisfing-or -written co brok-eroge-agroOMOR“.-lea-L-isting
Eirm-shall-pay-le-Selling-Firm a commission of %-of-the-salos prise or-$:-Sellor-assign-s-to Lictin-g-F-irrn
and-Selling Firf41-a-pOftiOn-e#4110 sales proceeds-equal-to-the COMMiSfrie14. If the earnest money is retained as
liquidated damages, 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 Seller consent to such
compensation. The Property described in attached Exhibit A is commercial real estate. Notwithstanding
Section 25 above, the pages containing this Section, 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
INVESTIGATION CONCERNING THE LEGAL EFFECT OF THIS AGREEMENT, BUYER'S OR SELLER'S
FINANCIAL STRENGTH, BOOKS, RECORDS, REPORTS, STUDIES, OR OPERATING STATEMENTS;
THE CONDITION OF THE PROPERTY OR ITS IMPROVEMENTS; THE FITNESS OF THE PROPERTY
FOR BUYER'S INTENDED USE; OR OTHER MATTERS RELATING TO THE PROPERTY, INCLUDING
WITHOUT LIMITATION, THE PROPERTY'S ZONING, BOUNDARIES, 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 e,ith zroForre0 by yipLogix 18970 Fifteen 1+,110 Road, Fraser, 1,6410gan 48026 VA'AV ziplogix cam
INITITIALS: BUYE
UYE
DATE d- SELLER DATE
DATE SELLER DATE.
C0MMIRCIAL & INVESTMENT REAL ESTATE
PURCHASE & SALE AGREEMENT
(CONTINUED)
28, IDENTIFICATION OF THE PARTIES. The foflo
Agreement:
aLLYSc
Contact: Nick Czapla
Address: P,O. Box 3949
Spokane, WA 99220-3949
Ct Commercial nmk*uxss°uati" (ID, ,
2011 UlfALL RIGHTS RESERVED
m�
CEA Form mm
Purchase xSale xum"rren'
Rev112011
Page 11 of
ing is (he contact information for the parties involved in this
Business Phone: (509) 343-9000
Mobile Phone: (509) 209-3531
Fax: (5_11) 343-9060
Email: o|dk@lbehonepmporti*0'Vom
Selling Licensee
Name: Daniel Tilley, Heritage K1omltrayReal Estate
Address: 5625 8ummmitviovvAvenue,
Yakima, WA 98908
Business Phone: (509) 248-9400
Mobile Phone: (509) 952-7555
Email: dftilley@hotmail.com
�
Address: Same
Business Phone:
Mobile Phone:
Fax:
CBA Office No.:
Courtesy Copy of No
Address:
s to Bu
Business Phone:
Mobile Phone:
Fax:
Email:
|NITITIAL:BUYER
BUYER
DATE
DATE
Seller
Cpukuv'
Address:
Business Phone:
Mobile Phone:
Fax:
Email:
Listing Agent
Name: Russ Roberts, Mike Abmma, Heritage
Moultray Real E tat
Address: 5625 Surnmitview Avenue
Yakima, WA 98908
Business Phone: (509) 248-9400
Mobile Phone: (509) 594-7989
Fax:
EmmU:wmn@heri(ogmmom|trayuown
Address: Same
Business Phone
Mobile Phone:
Fax:
CBA Office No:
Name:
Address:
Business Phone:
Mobile Phone:
Fax:
Email:
ELBK________
SELLER
Commercial Brokers Association
2011
COMMERCIAL & INVESTMENT REAL ESTATE. ALL RIGHTS RESERVED
PURCHASE & SALE AGREEMENT CBA Form PS to
(CONTINUED) Purchase & See Agreement
Rev, 112011
Pago 12 of 13
IN WITNESS WHEREOF, the parties have signed this Agreement intending to be bound.
BUYER
Lawrence B. Stone Properties, LLC, and/or
A s(i
Signature & Title
Date Signed 11":i''''1,2
INITITIAI.S: BUYER _
RI IYFR
DATE
nelTF
SELLER
City of Yakima
Signature & Title
Date Signed
SELLER DATE
CFI I FR DATF
CR/
INITITIALS: BUYER
0) Commercial Brokers Associalion
2011 13e
COMMERCIAL & INVESTMENT REAL ESTATE ALL RIGHTS RESERVED
PURCFIASE & SALE AGREEMENT CBA Form PS 1A
(CONTINUED) Purchase & Sale Agreement
Rov. 1/2011
Page 13 of 13
EXI-11BIT ATTACHED
DATE
DATE
ep SELLER DATE
SELLER DATE
fI141114111 11'1111101,1kf
lPh1 I!
Valley Title Guarantee
609)248-4442 • www.vtgeo,com
Prepared by Renee McGuire
reneem@vtgco.com
YAKIMA COUNTY PROPERTY PROFILE
Parcel #:19132931549
MCR #:
Owner:City Of Yakima
129 N 2nd St
Yakima WA 98901-2613
ier 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
Legai:Sedion 29 Township 13 Range 19 Quarter SW: Plat CHASPS N'S FIVE ACRE TRAM'S (A-64): Lot 7 EX E 25 FT,
AND EX S 348,8 FT, AND EX W 165 FT OF S 524 FT
01..11iIMMI1011111
--ASSESSMEWIF-8TinAX INFORMATION
Market Total: $297,800 (2016)
Market Land: $251,600
Market Irnpr: $46,200 (16%)
Market Other: $0
Assessed Total: $0 (2015)
2015 Taxes; $0
Levy Code: 334
Levy Year: 2015
Levy Rate: 12.70219595
SALE 8i LOAN INFORMATION
Sale Date: 2/27/2014
Sale Amount: $866,411
Document #: 0007832289
Deed Type: Grant Deed
I.oan Amount $0
Lender:
Loan Type:
Interest Type:
Title Co: VALLEY TITLE GUARANTEE
PROPERTY CHARACTERISTICS
1 eft)
Year Built: 1980 (1
Bedrooms: 0
Baths: 0.00
of Stories: 1,00
Bldg Type: STORAGE WAREHOUSE
Lot Size: 1.38 Ac (60,113 SF)
Exterior; METAL
Foundation: YES
Condition: VERY -POOR
Lot/Block: 7 /
Plat/Subdiv: CHAS. SIMPSON'S FIVE ACRE
TRACTS
Zoning: GC General Commercial
School Dist: 7 Yakima School District
Watershed: Wide Hollow Creek -Yakima River
View: NO VIEW
ter/Sewer: PUBLIC / PUBLIC
Sidewalk: Yes
Addtni Info: VACANT
Heat/Cooling: SPACE -HEAT (1 0
Comm Use: COMMERCIAL
Comm Area: 7,500 SF
Lighting: AVERAGE
mranmemrommammEMIMMumammaxpeammeMMIMMINIMunrumnowammeEMMIdardarafammmmenmff.M. mmirMerntelmrannimnomenrnimmnrnmmerf emurnMIMOMMINMErnmwmtre,WorannnummumM100Mra
Soonny Enina silos, Inn, an4 it5 tostorrfors make, repsoninIstIons, werrontaiso coodoIons, taros s or Imp/nod as fo1 w ocy or comp's`, mess of frifo,rnaIto CCW,itri n the sepal
AFTER RECORDING R F;V URN TlY
Fikd kg Record at Request of and
Copy Returna to;
Todd Reuter
K&I„, Gates
618 W, Riverside Avow., Suite 300
S oknae, WA 99201.0602
111 1111 111,111)111 JI11,11
111 11)11111
II,E11, 7832209
YAKIMA COUNTY, WA
02127/2014 18:31P11
WES', 7
flit( 61118141illl
Recardirg Lee: MO
WASHINGTON STATE RECORDEHI... COVER. E.rr Zip e:4-1..„
Document Titte(s)
BARGAIN ANI) SALE DEED
Reference Nituatter(s) of Documents assigned or o densest:
nintor (Lost 'lime, first name, init ia Is)
TIGER OIL, CORKMATION
Grantee (Last name, First name, inidals)
(1TY OF YAKIMA
1,tgat Docrilitiott (abbreviated: i.e. lot, block, pIm or section, township, rangel— —
Parcel A, Pin of Lot 7, 0! JAS SIMPSON'S FIVE ACRE TRACTS, A-64;
Parcel 11, Pin of Gordon's HiGHWAY TRACTS, 1-22 AND Plus of Lois 12
and 16, 1-22; Parcel 0, Pin of the NW'/, °Hite: srv, See, 26, Two 13, Rg. 18;
Parcel 1), Nu of the S of the NI '/ See 21, Twn 13, RI' 18
YAKIMA COUNTY, WASHINGTON
Additional 1%11 description ison A of document, I'i'-.
Asse5sor's rroperly TaK Pared/Account Numbers
19132931549, 181312-44412, 18132642051, and 181321-13014,
COUNTY TA
DATE ITO 2 7 4114
PAID $ ,
11E0,14 14763
"(Aim County Tr
Yakima C:ounly Auditor
Idlotif 7832289
Pago„ 1.
BARGAIN ANI) SALE DE10)
The Grantor„ TIGER OIL CORPORATION, an. Idaho eoworation„ whose address
is PO Box 772, Meridian, Idaho 83680, for and in consideration of Teo Dollars ($10,00)
and other goodand valuable consideration,. in hand paid, bargains, sells, and conveys to the
Grantee, CITY OF YAKIMA, a municipal corporation, whose address is 129 North 2"
Street, Yakima, 'Washington 98901., the following-descri bed real estate, situated in the
County of Yakima, State of Washington:
begat Description of Property attached hereto as. Exhibit "A".
And all improvements dlereon,
(the "Property").
Grantee acknowledges that Grantor has not oceopied the Property since
al.)proximately 2002 and has incomplete knowledge of its cortdition or whether or not any
defects exist thereon, (;RANT(.)rt. oaEs NIYIWARRANT, EITHER EXPIZESSIY
OR IMPLIEDLY, THE CONDITION OR FITNESS Oli"1111E PROITRTY
CONVEYED HEREUNDER (ANY SI (:TI WARRANTY BEING HEREBY.
EXPRESSLY NEGATE")) ANI) GRANT1U'. ACCITTS SAID PROPERTY "AS IN,
WHERE IS, WITH ALL ..FAta;rs" IN(:LUDING, RUT NOT LIMErn) TO„. 1fiE
ENVIRONMENTAL CONDITION OFFITE PROPERTY.
IN WITNESS WIIHREOF, the Grantor has caused its name to be ,signed to these
presents by its duly authorized officer or representative as of the date first above written,
DATED this 71..../day of
2.014.
GitANTOlt
TIGER 011,, CORPORATION,
an Idaho co•rporation
113Y:
Ch1friesConIey •
it's President
PAGE I
Yei Won. I HO '1032249 . Pow, 2 or
STATE OF IDAII0
SS
County of Ada
()11 1hise20r day of , 041fifiarr,%, , 2014, before me personally appealed
ClIARITS CONLEY to me known to he tU President of 110E1( Oil, CeMPOR Al ION,
that executed the foregoing instrument, and ackno‘vledged the said instrument to be the free
and voluntary act or TIGKR 011,, CORN)RATRIN, for the tries and purposes therein
mentiented, and on oath stated that he Was authorized to execute the said instntment on behalf
of TIGER 00. CORPORATION,
GIVEN UNDER MY HAW ANI) OFVICIAT„, SEAL the day and year in tins
certificate first above wri(ten.
My comni,ssinn
PAGE 2
yakitila Grunt), Ho 7$!;3228',.) i'flUA' 3 0'1.
WS:
Signantre,)
(Print Name)
February 4, 2014
poNmou im: I PRTARY UNIAA WitiTCAUN
EXHIBIT' A
PROPERTY. CONNIE Y E .
PAA -1.1, A
1606 E. Nob HilLUI.vd„YAdtua.
Fh.e West 165 feet of the North 125 feet of Lot 7, CHAS SIMPSON'S FIVE ACRE
TRAMS, recorded in Volume "A" of Plats, Page. 64,
EXCEPT the West 20 feet,
ANI) EXCEPT the East S feet .of the West 25 feet of the North .59 feet thereof,
AND the East 50 feet of the 'West 215 feet of the North 150 feet of Lot 7, CHAS
SIMPSON'S FIVE ACRES TRAcTs, according to the official Platthereof recorded
in Volume "A" of Plats, Page 64, records of Yakima County, Washington,
AND
Lot 7, CHAS SIMPSON'S FIVE. ACRE TRACTS, as recorded in Vo tune 'Aof
Plats, Page 64,
EXCEPT the West 165 feet,,
AND EXCEPT the South .348,8 feet,
AND EXCEPT th.e East 50 feet of the West 215 feet of the North 150 (et of said Lot.
7,
AND .h:XCEPT the East 25 feet conveyed to YC\V fOr road by deed recorded under
Auditor's File No, 2571813.
Situate in Yakima Connty, State of Washington,
Yakima County Assessor's Parcel No. 191329 31549
PARCEL A
1801EN, First St 1,1(a4iipil
That part of GOIWON'S HIGHWAY 1 RACTS, teeorded in Volt e "1" of Plats,
Page 22,
AND that part of the South 870.00 feet of the West 'A of the Southeast 1/4 of the
Southeast 1/4 of Section 12, Township 13 North, Rage 18, E,W,M,, bounded as
fhllows
Ileginning at the Northeast corner of 1 or 15 said Nut of GORDON'S 111(iIIIVAY
TRACTS, 24' West reference bearing, along the kasicrly line of said Pht of
GORDON'S
IIIGH WA Y 'FRACrs, Also tiNING THIS Westerly right of way hoe of North First
Street, 170.00 feet to a point which is 5.00 Pict South 0'24' West of the Northeast
PAGE 3
.County AUclitOr Pe )832289, 1,898 4 of 7
r‘lr'1,1111 ,P
EX LU 131T A (Continued)
corner of Lot 12 of said Plat;
thence North 89"40" West, parallel with the Northerly line of said NAL 155,00 leo;
thence North 09 24' East 170,00 feet to the Easterly extension of the Northeast line of
Lot 15 of said Plat;
thence South 8940' East 155.00 feet to the point of beginning,.
TOCiETITIER N,vtivE an easement for ingress and egress over and across that part or
Lot 12, GORDON'S HIGHWAY 'IRACTS aeeording to the official Plat thereof,
recorded in Volume "1" of Plats, Page 22, hounded as follows:
(.2otrienencing at. the Northeast comer 01' said Lot 12, saidpoint lbeing on the Westerly
right of way line of the North First Street;
thence South 0 24' West,reference br:nring„ along the Easterly line of said 11,..,ot 12,
also being the Westerly right of way line of North First Street, 5,00 feet to the point of
beginning;
thence South 0°24' West 30,00 .feet;
thence. North 63°05'20" West 67.05 feet to a point which is 5,00 feet South 0' 24'
West of the Northerly line of said Lot and 60.00 .feet North 89'40' West of the
point of beginning;
thence South 89'40' East parallel with, the Northerly line of said .1..„ot 12, 60,00 feet to
the point of beginning,
AND TOGETHER Willi a non•exchisive perpetual casement of ingress and egress
with the right to remove all existing improvernemsto improve and maintain with hard
permanent surface,: and to provide curb eras to abutting streets over and across. the
fol lowing described. property:
Contruencing at a, point on the East boundary of Lot 16 of GORDON'S EI1(11-1WA.Y
TRACTS, according to the. °nicht] Plat thereof, recorded in Volurne "1" of Plats„ rage
22, records of Yakima County, Washingkm, 30 feet North of the Southeast corner
thereof;
thence Southerly alomr the East boundary 30 feet to the said Southeast corner:
thence Westerly along the South boundary of said Lot 16, 60 feet;
thence northcasterly in a straight line to the point of beginning,
Situate in Yakima ()Aunty, State of Washington,
Yakima County Assessor's Parcel No, 181312-44412
PAGE 4
714.• 707,12289 10.896 5 or 7
EXII111311 A Continued)
PARCEL
p),2„ W, Nob Hill BlysLyidcitaa.
he North 141 feet of the West 147 feet of the Northwest 1/4 of the Northwest 1/4 of the
Southeast Vs of Section 26, Township 13 North, Range 18,
EXCEPT the North 26 feet and the West 20 feet,
ANI) EXCEPT those portions conveyed to the City of Yakima by i)ceds recorded
October 16, 1064, under Auditor's Rle, Nos, 2014381 and 2014382, and recorded
January 20, 1987 under Auditor's File No, 2787766,
AND that portion of the Northwest 1/1 ol° the Southeast ¼ of Section 26, 'fownship
North, Range 18, E,W.M., as described as follows:
Commencing at the Northwest corner of said subdivision;
thence South along the centerline 01'24°ANTMIC South, a distance of 141„00 feet, said
centerline being the West line of said subdivision;
thence South 89'17'00'1 East a distance of 28.50 fect to the Easterly margin of said
24111 Avenue South and the true point of beginning;
thence continuing South 89°17)00"Eist a distatice, 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" East, along saki Southerly margin a distance of 40,00 feet;
thence South a distance of 132 feet;
thence North 89"1700" West a distance of 158,51 feet to the Easterly margin of 2,1th
Avenue South;
thence North along said Easterly margin a distance of 17,00 feet to the true [-knot ot
beginning.
Situate in Yakitna County, State of Washington,
Yakima County Assessor's Parcel No, 181326-42051
PARCEL 1)
55,1„1„,„aRnimiloqieY „AN:
The South 160 feet of the West 160 feet of the Southwest 1/i. of the Southwest VI of the
Northeast 'A of Section 21, Township 13 "North, Rang 18,
PAGE 5
Yokirna Couray Au(lital 0'1832269. Pau..910 91`
EXHIBIT A (Continued)
EXCEPT the South 40 feet and the West 30 fee I for roads.
Situate in Yakima. County,. State of Wash.in[r,ton,
Yakima County Assessor's Parcel No. 181321-13
TOGETHER WITH all improvements thereon.
AGREEMENTS CONVEYED
14
1,
All -its, if any, of Tiger OU Cot poration i Mc following agreements'
a. Confidential Amended bust Agreement doted him 17, 2004, including
'Eiger's right to use funds held in said account consistent with the terms of
said, Confidential Amended Trust, Agreement
b, A Site Access Agreement between. Tigcr OH Corporation and Three. Sisters
Holding, LLC, elated. May 24, 2012,
c. A License and Agreement for Site Access and Use between fige
Corporation and Yakima SC Associates, LLC, dated May 2,4, 2102,
d. A License A.greement for Site Access between Tiger Oil Corporation arid
M&E Company, dated July 23, 1997.
c. An Access Agreement between Tiger Oil Corporation am; T ice Sish.Js
Holding, LLC dated July 17, 2006,
l'AGE 6
1,11,5V115,4X00111 h:1111 TWO:03,102 or,"X
. . 7f 7
Yakima County GIS - Washington
and Information or
tive)
6-6
E
31,573
7321158
31574
7321158
575
7321158
31423
31422
4
v7.'vv
rot . • e
it;ittt
6
\lob Hill Blvd
) itcitt!ti it I
\ ;R:.)
3/1576
7321158
31420
31419
31451
Map Center Range:19 Township:13.
Section:29
t city Limits
1 sections
31557
70211958
44
31559
WIYVtitt,IMINIAPtConit
Yakima County GIS
128 IT 2nd Street
Yakima, WA 9a9c1
(609)574-2992
One Inch =100 Feet
H
Feet 501 1 DO 150
tri"A$ AND PARCEL eATZARE et7tiTetiVrinle Ul ACCURATE,tU.JTACCURACY ISNOTCATEANTEEITTalTERWTI tc-t.,ki7--- " "
copoot,tic) YlArna Cor.lky GIS
)0CUMENT AND S10111.0 NOT BE SUBSTITUTE roll A II1LE STAFiCH, APPRAISAI , SURVEY, FA OGDPLAIN Olt ZONING
VERIFICATION Prinled On 1012018 4 5)4 '0
Pareel Number Situs Address
191329-31549 1606 E Nob Hill Blvd, Yakima
Owner(s)
City Of Yakima
Print ThiS Page
UseICode TCA
55 Retail - Auto, Marine, Aircraft 334
Abbreviated Legal Description
Section 29 Township 13 Range 19 Quarter SW: Plat CHAS. SIMPSON'S FIVE ACRE
TRACTS (A-61): Lot 7 EX F 25 FT, AND EX 5 348.8 Fr, AND EX W 165 1 OE S 524 Fr
Detailed Information for Detached Structure #S
Structure Type:
Construction:
Ext. all Type:
Flooring:
Measure 1:
Upper Finished:
Detailed Information for Land Record #1.
CM L1
Public
II regular
None
Storage -Shed
Masonry -Wall
Block
Cnot-Stab
15
Quality:
Const. Type:
Roof Type:
Year Built:
Measure 2:
Fixtures:
Land Flag:
Water Source:
Lot Shape:
Landscaping:
Squarefeet:
Detailed Worn
Building Type:
Ext, Wail Type:
Soil Class:
Sewer Source:
Topography:
Value Method:
60,112 Acre(s):
ion for Commercial Section #101
Storage Warehouse Quality:
Metal Year Built:
Stories: 1.0 Foundation:
Heat/Cool Type: Space-Ileat
Commercial Group floniniercial Group
101
Utility Informatiorn(ind/cates utility is available at parcel boundary)
Gas: Yes Electric: Yes
Water: PUblIc Sewer/Septic: Public
Low -Cost
Block
Metal
1981.
10
Public
Level
Sq-Teet
1.380
I ow -Cost
1980
Yes
Size
1.38
NI3LID
C301
Condition:
Foundation:
Roofing Material:
Stories:
Main Finished
Wood Stove(s):
Cale. Open Space:
Flood Plain:
Land View:
Lots:
Salvage
Concrete
Flat
1.,00
150
No
No
No View
Condition: Very -Poor
Ground Floor: 7500
Construction: Metal -Frame
Use Code Base Floor Area Number of Floors
Storage Warehouse 7,500 1.00
Site Information:
Property Type:
Street Type:
Traffic:
Curbs:
Excise #Grantor Name
__ Sale Date J, Sale Price
ij/ 1 Tiger 00 Corp -Idaho 02/21/2014 $744724 Bargain and Sale Deed
Government Owned Zoning: Gc
Two -Way Street Finish: Paved/Asohil.
Heavy Side Walk: Yes
Yes Location: Corner
Sales Information
Document Type
There are no segregations related to this parcel In the database:
Portion(Y/Ni_
No
Tax Breakdown Information*
',Please Note; These are not guaranteed tax amounts. They may have rounding errors and are only an indication of what taxes
would be If this parcel were taxed at current values for this Tax Year, In addition no assessments will be included on this list
(Inigation, road improvement etc.)
Tax year 2015
District Regular Rate Regular Tax Excess Rate Excess Tau
County Ems .24814391.$O.00 .00000000
County Hood Control .09024832$0.00 .00000000 7.00
$0.00
State School Levy 2,26449492$0.00 00000000, $0.00
Yakima City 3.1238/403$0.00 .00000000 $0.00
Yakirna County 1.70037791$0.00
$0.00.00000000 $ 0, 20
Yakima School Bonds ,00000000 1.68345866
$0.qg
Yakima School M8(0 .00000000 $0.00 3.11543959
$(()).°90
Yakima Valley Regional$ .6
Library .47615861 $0.00 00000000, . _
Tax Year 2014
District Regular Rate Regular Tax Excess Rate Excess
County Ems .25000000 $4.13 .00000000 $0,06
County Flood Control 09131481 $1.62 00000000 $0.66
State School Levy 2.61189775 $16.34 .00000000, $000
Yaklina City_ 3.11078596 $55,27 .00000000 $0.00
Yakima Cityl3onds .00000000 4.000 .01971953 $0.35
Yakima County 1.76457913 131.27 .00000000 19.00
Yakima School Bonds .00000000
Y'eTklyna School M&O .00000000
Yakima Valley Regional Libra:), .48121906
$0.00] 1.70093207
$0,00 3,13157899
$8,53 .00000000
$30.11
. 55,50
$0,00
This ,OP erty C rr Ow t, NO Va hit g k41.(F b /oat thisnu
Whlie this Inforrnatlon Is Intended to be accurate, any manifest error are unintentional and
subject. to correction.. Please feel free to contact us about any errors you discover and ire III try
to correct them as soon as possible, To contact us call either (509) 5/4-1100 or (800) 572.-
7354, or e-mail us