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After recording return to:
i~~tt~~~t~~~e SE, Ste 100 '.:-'.1(11' III 1./1 1- "11 · 200504220349
Attn: Jack Willing _ I'. . Pag~' 1 of 4
Bellevue, WA 98004 ./\.. \iRANslflhICN T I . _ - tW22i2995 9335P
/";;:::::;:""':':'::::::;!:') - I lTLE INS cO DEED ~2 aa Kitsap Co, WA
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Legal DescriPt.i~~"t~~bre:vi~ted): PO~l,jo~:.j"p,li). HILLMAN'S NAVY YARD ADDITION TO
BREMERTO~,"'A.NQ"PltlTI:D STA1;,E?:fi'lA,~JY,,I\RD ADDITION TO BREMERTON; AND PORTION NW
;~di~~~~~E~~:'~:~; '~~ge: h 3<"::>':::':::(''''''''
d. a 13 ~ B 1'"7 -T"'"
STATUTORY WARRANTY DEED
THE GRANTOR(S) city of Bremerton, a Washington Municipal corporation, for and in
consideration of Ten ($10.00) Dollars and other good and valuable consideration and as part of an
l.R.C. 1031 Tax Deferred Exchange in hand paid, conveys and warrants to East Park, LLC, a
Washington limited liability company the following described real estate, situated in the County
of Kitsap, State of Washington:
See Exhibit A attached hereto and made a part hereof.
'3'13<.,-011- 001-0001
Subject to: Those items specificaily set forth on Exhibit "A~/attached hereto.
..;1
:,::~.26
~
Cary Bozeman/ ayor
State of Washinoton
f<1 55'
County of t0Cl p. .
On his"'.3 + day of
. 0 .~
me know to be the individua kBtdescri ed in and who executed t within an'/,foregoing
instrument, and acknowledged that h ~ signed the same as J S free
and voluntary act and deed, and on oath stated that h '€... was authorized to execute
the instrument n~ ackn wled ed it as the r;;a.tjcr of
. r f-n ..., to be
the free and volu tary act of such party for the uses and purposes therein me~Q,~
Given under my hand an official seal the day and year last above wntten. ,L;" P- V ~
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, _ ")..: .. ;\S...,K'~".l:~:~.. ~
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...... , a' OT A I:> <",' '7
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Notary PUb~ and for th~tate of. It )qS h 1(1 C) .j..t) 1', : /) * \0 :'
ReSiding at re Mer 't"'\ u.). cJ> '.0 US\.: :'\: ~ j
My Appointment expires: .3.. .;)7- 07 ==1~ ..J.27..f:J., ,,0.
1\~ (~;.. .: .,,~0 >!J
Statutory Warranty Deed lPB-10 (7/97)
TRANSNATION TITLE INSURANCE COMPANY
.
EXHIBIT "A"
.::;:.,i:",:,::::::::.,.:::::,\
A PORTION OF THE PLAT OF C.D. HILlMAN~$,}tI,Avy YARD ADDITION TO BREMERTON,
PER VOLUME 3 OF PLATS, PAGE 12~>,R.~'c'oR:6s OF KITSAP COUNTY, WASHINGTON,
TOGETHER WITH A PORTION OIj"T.:f.J,e:',PlAT OF UNITED STATES NAVY YARD ADDITION TO
BREMERTON, PER VOLUME 3 PF" P\AT$'i.,'PAGE 63, RECORDS OF KITSAP COUNTY,
WASHINGTON, TOGETHER wJIH;'A""PQRTION OF THE NORTHWEST QUARTER OF THE
SOUTHEAST QUARTER of"SfctLPl}ti2, TOWNSHIP 24 NORTH, RANGE 1 EAST, W.M.,
SITUATE IN KITSAP C9~~~~,:':~A'SHING~9!~( MORE PARTICULARLY DESCRIBED AS
FOLLOWS: ,,,,,,.,,,,:::'<:" <:. ."""'",.;:;:;",:::::.\,,..
BEGINNING AT A}!' ;~'RA$$.;'DISC MQN!;J,M;ENT,4I,T THE CENTER OF SAID SECTION 12,
SAID MONUMEN('B,~.iNG,,APPROXJMA:r~L;r AT THE INTERSECTION OF THE CENTERLINES
OF SCHLEY B.0.0tSVA~EfAND TW~t.RJ{''A\tENUE;
THENCE F~6~vhMtp'TRUE PQIJ:'!T"qF,.e.~GINNING, SOUTH 89000'16" EAST 260.66 FEET
TO A FOUN::D",7~:,'1i?'IAMETER c9N.c~ifTE""MONUMENT;
THENCE SOUTH))2001'25" WES.j"'~.14.09 FEET TO A STANDARD BERNTSEN MONUMENT;
THENCE SOUtH 02001'25" WESt"'S75.25 FEET TO A STANDARD BERNTSEN MONUMENT;
THENCE SOUTH 02001'25" WEST 410.12 FEET TO A STANDARD BERNTSEN MONUMENT;
THENCE NORTH 88027'57" WEST 260.63 FEET TO A STANDARD BERNTSEN MONUMENT,
ALSO BEING POINT "A"; THENCE SOUTH 02001'25" WEST 250.04 FEET TO A STANDARD
BERNTSEN MONUMENT;
THENCE NORTH 87058'35" WEST 139.80 FEET TO A STANDARD BERNTSEN MONUMENT;
THENCE NORTH 29044'22" WEST 77 .03 FEET TO A STANDARD BERNTSEN MONUMENT
SET 1.0 FOOT FROM THE BACK EDGE OF THE SIDEWALK;
THENCE ALONG A CURVE TO THE RIGHT WITH A RADIAL BEARING OF NORTH 29044'22"
WEST, RADIUS OF 427.72', DELTA ANGLE OF 08028'14", AN ARC LENGTH OF 63.23';
THENCE SOUTH 68043'52" WEST 216.26 FEET;
THENCE ALONG A CURVE TO THE LEFT WITH A RADIAL BEARING OF SOUTH 21016'08"
EAST, RADIUS OF 431.31', DELTA ANGLE OF 36022'15", AN ARC LENGTH OF 273.79';
THENCE ALONG A CURVE TO THE LEFT WITH A RADIAL BEARING OF SOUTH 57038'23"
EAST, RADIUS OF 651.50', DELTA ANGLE OF 20000'17", AN ARC LENGTH OF 227.47';
THENCE SOUTH 12021'20" WEST 105.56 FEET;
THENCE ALONG A CURVE TO THE LEFT WITH A RADIAL BEARING OF SOUTH 77040'53"
EAST, RADIUS OF 461.50', DELTA ANGLE OF 26054'48", AN ARC LENGTH OF 216.78';
THENCE SOUTH 14033'28" EAST 72.06 FEET;
THENCE ALONG A CURVE TO THE LEFT WITH A RADIAL BEARING OF NORTH 75026'32"
EAST, RADIUS OF 48.65', DELTA ANGLE OF 52018'50", AN ARC LENGTH OF 44.42';
THENCE SOUTH 23005'29" WEST A DISTANCE OF 43.21 FEET;
THENCE SOUTH 42016'27" WEST A DISTANCE OF 37.94 FEET;
THENCE NORTH 46043'53" WEST 353.70 FEET;
THENCE NORTH 02000'24" EAST 316.39 FEET TO A STANDARD BERNTSEN MONUMENT;
THENCE NORTH 02000'24" EAST 598.62 FEET TO A STANDARD BERNTSEN MONUMENT;
THENCE NORTH 02022'13" EAST 374.04 FEET TO A STANDARD BERNTSEN MONUMENT;
THENCE NORTH 02022'13" EAST 396.49 FEET TO A STANDARD BERNTSEN MONUMENT;
THENCE NORTH 02022'13" EAST 538.06 FEET TO A STANDARD BERNTSEN MONUMENT;
THENCE SOUTH 89000'33" EAST 599.00 FEET TO A STANDARD BERNTSEN MONUMENT;
THENCE SOUTH 89000'33" EAST 373.17 FEET TO SAID FOUND MONUMENT AT CENTER
OF SAID SECTION 12 AND THE TRUE POINT OF BEGINNING.
EXCEPT FOR A SIXTY FOOT WIDE PARCEL (SCHLEY BOULEVARD), THE CENTERLINE OF
WHICH IS DESCRIBED AS FOLLOWS:
I.\TlHIIvn W~~~:~3:
lRRlIS~TlOU TITlE lHS co o.r~~ . _~-v"l
I . ,.
BEGINNING AT THE SAID MONUMENT AT THE CENTER OF SAID SECTION 12, AND THE
TRUE POINT OF BEGINNING; i'\.
THENCE ALONG THE CENTER EXPANSIorihJ.olNT.OF THE THIR1Y TWO FOOT WIDE
ROADWAY, SOUTH 02001'25" WEST 1{6;~';o.~,J:~Er;
THENCE ON A CURVE TO THE RIGHt.;,,,Nf'.,C.ltNTER OF WHICH BEARS NORTH 87058'35"
WEST 406.22 FEET, DELTA ANG~e.JP'F.,M~,~0'14", AN ARC LENGTH OF 472.67 FEETi
THENCE SOUTH 68041'39" WESt gie':'~6FFEET;
THENCE ON A CURVE TO Tlig::~'Eft.i.'tf.lE CENTER OF WHICH BEARS SOUTH 21"18'21"
EAST 452.81, DELTA ANGl.!'Ed>f"~'5{i2'15", AN ARC LENGTH OF 287.44 FEETi
THENCE ON A CURVE T.O'''J'HE,{EFT, THE CENTER OF WHICH BEARS SOUTH 57"40'36"
EAST 673.00 FEET, D~~1A::)JII'~LE OF 2Qt.OGr~7", AN ARC LENGTH OF 234.98 FEET;
THENCE CONTINUIf'il'~;::A~C.i'N,~ SAID C:ENT~R,,~~PANSION JOINT, SOUTH 12019'07" WEST
105.56 FEET' ,"""'\ ';""\ Y""-' <:..,,:),) "","
THENCE ON A,:CU.~y~.;tO"THE LE~;::t:H.~,:;SENTER OF WHICH BEARS SOUTH 77040'53"
EAST 483.0q"'F.;E.'::"F:,"p.!'i:LTA ANC;;;L!;Ofi;2p"S4'48", AN ARC LENGTH OF 226.88 FEET;
THENCE =i,o.\!tf.i";~4~35'41" W~~T'.;?;~,:Oi FEETi
THENCE ON"A".C4RVE TO THE:\~{~Hrr, THE CENTER OF WHICH BEARS SOUTH 75024'19"
WEST 100.0Cr-FEFr, DELTA ANGkE''OF 57053'39", AN ARC LENGTH OF 101.04 FEET;
THENCE CONTINUING ALONG SAID CENTER EXPANSION JOINT, SOUTH 43017'58" WEST
TO THE NORTHERLY RIGHT OF WAY OF WHEATON WAY (FORMERLY STATE ROAD NO.
21B) AND THE TERMINUS;
ALSO EXCEPT FOR A PARCEL (MAGNUSSON WAY), WHICH IS DESCRIBED AS FOLLOWS:
BEGINNING AT THE SAID MONUMENT AT THE CENTER OF SAID SECTION 12, THENCE
ALONG THE CENTER EXPANSION JOINT OF THE THIR1Y TWO FOOT WIDE ROADWAY,
SOUTH 02001'25" WEST 281.90 FEET TO THE CENTERLINE INTERSECTION WITH
MAGNUSSON WAY;
THENCE ALONG THE CENTER EXPANSION JOINT OF THE ROADWAY, SOUTH 87058'35"
EAST 30 FEET TO THE EASTERLY RIGHT OF WAY OF SCHLEY BOULEVARD AND THE TRUE
POINT OF BEGINNING;
THENCE ALONG SAID EASTERLY RIGHT OF WAY, NORTH 02001'25" EAST 55 FEETi
THENCE LEAVING SAID EASTERLY RIGHT OF WAY, SOUTH 42058'35" EAST 35.35;
THENCE SOUTH 87058'35" EAST 206 FEET;
THENCE SOUTH 02001'25" WEST 60 FEET;
THENCE NORTH 87058'35" WEST 206 FEET;
THENCE SOUTH 47001'25" WEST 35.35 FEET TO THE SAID EASTERLY RIGHT OF WAY OF
SCHLEY BOULEVARD;
THENCE ALONG SAID EASTERLY RIGHT OF WAY, NORTH 02001'25" EAST 55 FEET TO
THE TRUE POINT OF BEGINNING;
ALSO EXCEPT FOR A PARCEL (SCHLEY WAY), WHICH IS'MORE PARTICULARLY
DESCRIBED AS FOLLOWS:
BEGINNING AT POINT "A" ABOVE AND BEING THE TRUE POINT OF BEGINNING;
THENCE SOUTH 02001'25" A DISTANCE OF 40 FEET;
THENCE NORTH 450WEST TO THE EASTERLY RIGHT OF WAY OF SCHLEY BOULEVARD;
THENCE ALONG SAID EASTERLY RIGHT OF WAY NORTH TO A POINT NORTH 450 WEST
OF THE TRUE POINT OF BEGINNING;
THENCE SOUTH 450 EAST TO THE TRUE POINT OF BEGINNING;
ALSO EXCEPT ANY PORTION OF THE PROPERTY LYING SOUTHEASTERLY OF THE
INTERSECTION OF HOMER R JONES DRIVE AND SCHLEY BOULEVARD;
SITUATE IN THE CI1Y OF BREMERTON, COUNTY OF KITSAP, STATE OF WASHINGTON.
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Pa~' 3 of 4
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TRANSt1ATI OI~ TITLE I HS CO DEED $22 , sa K i\ sap Co I WA
" ..
EXHIBIT A-I
Subject: ./",,,,'::::::::'::",,,,,,,:::,
1. LOCAL IMPROVEMENT ASSESSr~wiiT$}'tf:~NY, LEVIED BY THE CITY OF BREMERTON.
,,""::::::;:''''::::\::::'':,;;;''''''''
2. EASEMENT AND THE TE~M,S,.Af'Jq"'C.ONDITIONS THEREOF:
~1~J~~I~~~~R~~r.~S~~~;:~~~~E:;~~~7!!!.
PURPOSE: ",..,,::"'''':''''';,.)0 '\)' .~r.~,NG EASEMENTS FOR PUBLIC ROADS, STREETS
AREA A~~;~~:~/::::":;":'> .(,:::::':::;:::::~~~~ft:~~~AID PREMISES
SAID..!i~iii,~~~~'ALSO RE.,SP~t?,~9VNbER KITSAP COUNTY RECORDING NOS. 334750 AND
3 3~::::::~::::;;"::j:<>' ... (,,:::,:."'::;::}::::'::,,/
3. EASEM't,N'T AND THE TERMS'AND CONDITIONS THEREOF:
GRANTEE: PUGET SOUND POWER & LIGHT COMPANY
PURPOSE: POWER LINE
AREA AFFECTED: A PORTION OF SAID PREMISES
RECORDED: JANUARY 5, 1943
RECORDING NO.: 371005
4. EASEMENT AND THE TERMS AND CONDITIONS THEREOF:
GRANTEE: STATE OF WASHINGTON
PURPOSE: ROAD PURPOSES
AREA AFFECTED: A PORTION OF SAID PREMISES
RECORDED: DECEMBER 1, 1943
RECORDING NO.: 384748
5. EASEMENT AND THE TERMS AND CONDITIONS THEREOF:
GRANTEE: STATE OF WASHINGTON
PURPOSE: PUBLIC SIDEWALKS
AREA AFFECTED: A PORTION OF SAID PREMISES
RECORDED: MAY 18, 1944
RECORDING NO.: 391715
6. EASEMENT AND THE TERMS AND CONDITIONS THEREOF:
GRANTEE: CITY OF BREMERTON
PURPOSE: STREET, ROADWAY AND SIDEWALK
AREA AFFECTED: A PORTION OF SAID PREMISES
RECORDED: MARCH 12, 1946
RECORDING NO.: 423191
7. EASEMENT AND THE TERMS AND CONDITIONS THEREOF:
GRANTEE: PUGET SOUND POWER & LIGHT COMPANY
PURPOSE: ELECTRIC TRANSMISSION AND/OR DISTRIBUTION LINES
AREA AFFECTED: A PORTION OF SAID PREMISES
RECORDED: APRIL 26, 1946
RECORDING NO.: 426131
8. MATTERS SET FORTH BY SURVEY:
RECORDED: JULY 12, 1990
RECORDING NO.: 9007120088
DISCLOSES: PERIMETER ENCROACHMENTS AND BOUNDARIES
9. RESERVATIONS, REPRESENTATIONS, COVENANTS AND RESTRICTIONS CONTAINED IN
QUIT CLAIM DEED RECORDED UNDER RECORDING NO. 200212170100.
. I 1 H\'\ r rr-r. 200504220349
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, TRAHSliRT'!CJI-l TlTlE INS co DEED $22, O~ Ki tsap Co, WA
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After recording return to:
City of Bremerton
345 Sixth St #600
Bremerton, WA 98337-1873
J I L 200504220350
, Page: 1 of 8
- ; G4/22/2GG5 G3:35P
TRAt~S~IATI m,j TI TLE I NS CO DT $27.00 Kitsap Co, WA
Please print legibly or type information.
Document Title(s) Deed of Trust d O/:Jd817~J
,
Grantor(s) East Park LLC, a Washington Limited Liability Company
_ Additional Names on Page _ of Document
Gran~Beneficiary /Mortgagee(s) City of Bremerton
T f"-"" )V\~ 1-.~-, J;'1k - Tr~s~
Legal Description (Abbreviated: i.e., lot, block & subdivision name or number OR
section/township/range and quarter/qu(1rter section) I
PORTION C.D. HILLJIIlAN'S'NAVY YARf}--ADEHTI()N'To.BREMEa:rO~rcANIUJNlTED STAn:S I
i,
NAVY YARD ADDITION TO BREMERTONi AND PORTION NW SE, 12 24N OlE
Complete Legal Description on Page 6 and 7 of Document
Auditor's Reference Number(s)
~I
/ i Assessor's Property Tax Parcel/Account Number(s)
( : 3936-031-001-0007
i
I The Auditor/Recorder will rely on the information provided on this cover sheet. The
, Staff will not read the document to verify the accuracy or completeness of the indexing
information provided herein.
I am requesting an emergency nonstandard recording for an aeJditional fee as provided in RCW
36.18.010. I understand that the recording processing require:uents may cover up or otherwise
I obscure some part of the text of the original document.
I Signature of Requesting Party(required for non-standard recordings only) GPCOVST. Doc rev4/02
Recording Cover Page - EM - 002
20{0~ 20U5 11,'U f~~ 3l>Ul>9B4S1l> lR~NSN~110N SllYERD~lE Ial 023/03B
f
-: I
after rllcl>rdl"fJ return to:
Cltv of Bremel10n
~45 Sixth st #600
BremertOft, INA 98337-1813
Legal DeSCription (abbreviated): PORnON C.D. HILLMAN'S NAVY VARD ADDxrtON TO
BREMERTON, AND UNmD STATES NAVY YARD ADDITION TO BREM&RTON; AND
PORTION NW $E, 12 24N OlE
Additionllllegal on page: 6
As!lessor's Tal< Paree! 1D#: 3938-031-001-0007
DEED OF TRUST
(for use in the state 0' W..hington only)
THIS DEED OF TRUST, mader this 20th dClY of AprD, ~005 between East Park, LLC, ..
WashIngton limited lillbilitycompany , as GRANTO~(S), whose address Is 1601114th Ave 51:
#1001"'evlle, INA 98004, ,/lnd TR4NSNArtON TlTLE INSURANCE COMPANY, as
TRUSTEE, whose address is 9619 Levin Road, NW, SlIverdale, WA 983831 and City of
Btemerton, a Washin,ton M\loiclpa, corporation as BENEFICIARY, whose address 1$ 345
Sixth street Bremerton, WA 98337,
WITNESSETH: Grantor(s) hereby lrrevoc:ably grants, bargaln$, sells, and conveys to Trustee in trust,
with power of sale, the following desc:ribed property in KitHp COunty, WaShinGton:
See EXhibi~attilC:hed hereto and made II part hereof.
which real property is not used principally for ilgricultural purposes, together with all the
tenements, henlditaments, and appurtenances now or hereafter belonging Or in any way
appertaining, and the rents, issues, and profits of the property.
THIS DEED IS FOR THE PURPOSe OF SECOrUNG PERFORMANCE of each agreement of Grantor($)
c:ontained In this Deed Of Trust, and payment of the sum of One Million One Hundred Sevent\'
Fivl! Thcausalld and 00/100 DOLLARS ($1,175,000.00) with Intenllit, in accordance with the
terms of a promiSSOry note of even date herewith, payable to Beneflclary or order, and made by
Grantor{s), and all renewals, modlfieations, anel extensions of the note, and also such further sums
as may tie ildvaneed or 19anell bY Beneficiary to Grantor(s), or any of the Grantor(s)' suc:c:essors or
ilS5igns, together with interest thereon at the rate agreed upon.
DUE DATE: The entire balance of the promissory note secured by this Deed of Trust, together
with any and all interest accrued thereon, shall be due and payable in full on *ee attached.
To protect the seeurity of this Deed of Trust, Grantor(s) c:overnant(s) and agreees):
1. To keep the property in goOd condition and repair; to permit no waste Of the property; to
complete any bvllding, struCture, or improvement being built Gr about to be built on the
property; to restore promptly any building, structure, or improvement on the property which
may be damaged or destroyed; and to comply with all laws, ordinances, regulatlol'ls,
c:ovenants, conditions, and restrictions affectIng the property.
2. To pay before delinquetlt all laWful taxes CtJ'ld assessments upon the property; to keep the
~rOperty free and clear of all other charges, liens, or encumbrances Impairing the security of
this Deed of Trust.
Deed of Trust Due on Sale LPB-22A LPB-2.~ (7/97)
l.PB-22A TRANSNATION TITLE INSURANCE COMPANY Page 1 of 5
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200504220350
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. e4/22/2eeS e:3::3SP
TRAt~SNATIOH TITLE H~S CO DT i2?eo KHsap Co, ~JA
20/04 2005 17:10 FAX 3606984616 TRANSNATION BIlYEROAlE fa! 024/038
Reference:2013Z817
3. To keep all buildings now or hereafter erected on the property continuously insured against loss
by fire or other hazards in an amount not Jess than the total debt secured by this Deed of
Trust. All policies !ihall be held by the Beneficiary, and be in such companies as the Beneficiary
may approve and hilve loss payable first to the Beneficiary, as Its interest may appear, and
then to the Grantor(s). The amount collected under any lnsurllllce po/icy may be applied upon
any indebtedness secured by this Deed of Trust in such order as the Beneficiary shall
determine. Such application by the Beneficiary shall not cause discontinuance of any
proceedings to forec:lose this Deed of Trust. In the event of foreclosure, all rights of the
Grantor{s) in insurance policies then in force shall pass to the purchaser at the foreclosure sitle.
4. To defend any action or proceeding purporting to affect the security hereof or the rights or
powers of Beneficiary or Trustee, and to pay all costs and expenses, 1"C:luding cost of title
search and attorney's fees in a reasonable amount, in any such action or pnKeeding, and in
any suit bro\lght by 8eneflc:iary to foreclose this Deed of Trust.
5. To pay all costs, fees, and expenses In connection with this Deed of Trust, inclllding the
expenses of the Trustee incurred In enforcing the obligation secured by this Deed of Trust and
Trustee's and attorney's fees ~ctually incurred, as provided by statute.
6. Should Grantor(s) fail to pay when due any taxes, assessments, Insurance premiums, liens,
encumbrances, Or other charges against the property. . Beneficiary mlly pay the $~me, and the
amount so paid, with interest at the rate set forth in the note secured by this Deed of Trust,
shall be added to and become a part of the debt secured In this Deed of Trust.
7. DUE ON SALE: (OPTIONAL - Not applicable unless initialed by Grantor and Benefici~ry) The
property desaibed in this security instrument may not be sold or transferred wlthOlJt the
Beneticiary's c:onsent. Upon breach of this provision, 8eneficlary may dec:lare all sums due
under the e and Deed of Trust Immediately due aM payable, unles!i prohibited by applicable
law.
Beneficiary (Inltlalli)
IT IS MUT
S. In the event any portion of the property is taken or damaged In an eminent domain
proceeding, the entire amount of the award or such portiO" as may be nec:essary to fully satisfy
the obligation secured by this Deed of Trust shall be paid to Beneficiary to be applied to said
obllgatlon.
9. By accepting payment of any sum secured by this Deed of Trust al'ter its due date, BeneFICiary
does not waive Its right to require prompt payment when due of all other sums so secured or to
declare default for failure to 50 pay.
10. The Trustee 1;hall reconvey all or any part of the property covered by this Deed of Trust to the
person entitled thereto, on written req\lest of the Grantor(s) and the Beneficiary, or upon
satisfaction of the obligation secured and written request for reconveyance made by the
8eneficiary or the person entitled thereto.
11. Upon default by Grantor(s) in the payment of any Indebtedness secured by this Deed of Trust
or in the performance of any agreement contained in this Deed of Trust, all sums secured by
i this Deed of Trust shall Immediatelv become due and payable at the option of the 8enefic;lary,
I Subject to any cure period provided in the note secured by this Deed of Trust. In such event
I and upon written request of Beneficiary, Trustee shall sell the trust property, in acc:ordance
with the Deed of Trust Act of the State of Washington, at public auction to the highest bidder.
Any person except Trustee may bid at Trustee's sale. Trustee shall apply the proceedS of the
sale as follows: (l) to the expense of the sale, including a reasonable Trustee's fee and
attorney's fee; (2) to the obliglltlon li8cured by this Deed of Trust; and (3) the surplus, if any,
shall be distributed to the persons entitled thereto.
12. Trustee shall deliver to the purchaser at the sale Its deed, without warranty, whic:h shall convey
to the purcha:ser all right, title and Interest in the real and personal property whlc:h Grantor(s)
had or had the power to convey at the time of the execution of thIs Deed of Trust, and such liS
Grantor(s) may have acquired thereafter. Trustee's deed shall recite the facts showing that the
sale was conducted in compliance with all the requirements of IIIW and of this Deed of trust,
whlc;" recital shall be prima facie evidence of such compliance ilnd conclusive evidence thereof
in favor of bona fide purchaser and encumbrancers for value.
13. The power of sale conferred by this Oeed of Trust and by the Deed of Trust Act of the State of
WaShington is not an exclusive remedy; BenefiCiary may cause this Deed of Trust to be
foreclosed as a mortgage.
14. In the event of the absence, death, incapac:ltv, disability, or resignation Of Trustee, or at the
dlsc;retion of the Beneficiary, Beneficiary may appoint In writing a successor trustee, and upon
the recording of such appointment In the mortgage records of the county in which this Deed of
Trust /5 recorded, the successor trustee shall be vested with ell powers of the original trustee.
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TRANSNATION TITLE INS CO DT $:7.00 kitsap Co, WA
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20/04 2005 17:11 FAX 3606994616 TRANSNATION SILvEROAlE ~025/03B
. .
Reference: 20132817
The trustee is not obligElted to notify any party hereto of pending sale under any other Deed Of
Trust or Of an action or proceeding in which Grantor(s), Trustee, or Beneficiary shall be a party
unless such action or proceeding is brought by the Trustee.
15. This Deed Of Trust applies to, inures to the benefit of, and is binding not only on the parties
hereto, but on his/her/their heirs, devisees, legatees, administrators, executl~rs, and assigns.
The term BeneficIary shall mean the holder and owner of the Note secured hereby, whether or
not named as Beneficiary herein.
16. Additional Terms and Conditions: (check one)
a. 0 NONE
OR
b. X As set forth on the attaChed Exhibit A which is incorporated by this reference.
(Note: If neither a nor b is checked, then option "a" applies)
Dated: AprJl 20, 2005
"
St e rw,& 50,
County of '
On this .Qllri day of Ap , 2005, before me personally appea~ Jack Willing, to me known to be
the individual(s) described in and who executed the within and foregoing instrument, and
Elt:knowledged that he signeQ the same as his free and voluntary act and deed, and on oath stated
that he was.Buthorized to execute the instrument and acknoWledged it as the manager of East
Park LLC to be the free and voluntary act of such party for the uses and purposes therein
mentioned.
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20/04 2005 17.11 FAX 3808984818 TRANSNATION SIlVEROAlE @028/038
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Reference:Z013:l817
REQUEST FOR FULL RECONVEYANCE
To be used only whll1l all obligations have been paid under the note aM this Deed of Trust.
TO: TRUSTEE
The undersigned is the legal owner and holder of the note and .11 other indebtedness secllled by the willlin Deed
of TNSI.Said note, togethcr with all olhcr indebledneSll secured by said Deed of Trust, has been Nlly paid and
satisfied; and you are hereby requested and dUected, on pa)'Jntllt to you of any sums owing to you \IQder the teons
of said Deed of Tmsl, to CilJ\c:e1 said note above mentioned, aIId all other evidenceS of indebtedness Secured by
said Dee\i of Trust delivered to you herewith, together With the said Deed of Trust, and to recon~y. without
warranty, to the panics desigWlted by lhe terms of said Deed of Trust, all the estate now held by you thereUDder.
Dated:
8y
By
By
By
Mail reeonveyance to
Do 1101 lose or destroy this Deed ofTmst OR '1l{E NOTE which it secures. Both must be delivCIed to the TIIlSlee
before cancellation will be made.
T I , J I 200504220350
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I I DT :t27.00 Kit,sap Co, WA
TRAt.ISt-lATlOH TITLE WS CO
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EXHIBIT "A"
A PORTION OF THE PLAT OF C.D. HILLMAN'S NAVY YARD ADDITION TO BREMERTON,
PER VOLUME 3 OF PLATS, PAGE 129, RECORDS OF KITSAP COUNTY, WASHINGTON,
TOGETHER WITH A PORTION OF THE PLAT OF UNITED STATES NAVY YARD ADDITION TO
BREMERTON, PERVOLUME 3 OF PLATS, PAGE 63, RECORDS OF KITSAP COUNTY,
WASHINGTON, TOGETHER WITH A PORTION OF THE NORTHWEST QUARTER OF THE
SOUTHEAST QUARTER OF SECTION 12/ TOWNSHIP 24 NORTH, RANGE 1 EAST, W.M.,
SITUATE IN KITSAP COUNTY, WASI-HNGTON, MORE PARTICULARLY DESCRIBED AS
FOLLOWS:
BEGINNING AT A 3" BRASS DISC MONUMENT AT THE CENTER OF SAID SECTION 12,
SAID MONUMENT BEING APPROXIMATELY AT THE INTERSECTION OF THE CENTERLINES
OF SCHLEY BOULEVARD AND TWELFTH AVENUE;
THENCE FROM SAID TRUE POINT OF BEGINNING, SOUTH 89000'16" EAST 260.66 FEET
TO A FOUND 7" DIAMETER CONCRETE MONUMENT;
THENCE SOUTH 02001'25" WEST 314.09 FEET TO A STANDARD BERNTSEN MONUMENT;
THENCE SOUTH 02001'25" WEST 575.25 FEET TO A STANDARD BERNTSEN MONUMENT;
THENCE SOUTH 02001'25" WEST 410.12 FEET TO A STANDARD BERNTSEN MONUMENT;
THENCE NORTH 88027'57" WEST 260.63 FEET TO A STANDARD BERNTSEN MONUMENT,
ALSO BEING POINT "A"; THENCE SOUTH 02001'25" WEST 250.04 FEET TO A STANDARD
BERNTSEN MONUMENT;
THENCE NORTH 87058'35" WEST 139.80 FEET TO A STANDARD BERNTSEN MONUMENT;
THENCE NORTH 29044'22" WEST 77.03 FEET TO A STANDARD BERNTSEN MONUMENT
SET 1.0 FOOT FROM THE BACK EDGE OF THE SIDEWALK;
THENCE ALONG A CURVE TO THE RIGHT WITH A RADIAL BEARING OF NORTH 29044'22"
WEST, RADIUS OF 427.72', DELTA ANGLE OF 08028'14", AN ARC LENGTH OF 63.23';
THENCE SOUTH 68043'52" WEST 216.26 FEET;
THENCE ALONG A CURVE TO THE LEFT WITH A RADIAL BEARING OF SOUTH 21016'08"
EAST, RADIUS OF 431.31', DELTA ANGLE OF 36022'15", AN ARC LENGTH OF 273.79';
THENCE ALONG A CURVE TO THE LEFT WITH A RADIAL BEARING OF SOUTH 5]038'23"
EAST, RADIUS OF 651.50', DELTA ANGLE OF 20000'17", AN ARC LENGTH OF 227.47';
THENCE SOUTH 12021'20" WEST 105.56 FEET;
THENCE ALONG A CURVE TO THE LEFT WITH A RADIAL BEARING OF SOUTH 77040'53"
EAST, RADIUS OF 461.50', DELTA ANGLE OF 26054'48", AN ARC LENGTH OF 216.78';
THENCE SOUTH 14033'28" EAST 72.06 FEET;
THENCE ALONG A CURVE TO THE LEFT WITH A RADIAL BEARING OF NORTH 75026'32"
EAST, RADIUS OF 48.65', DELTA ANGLE OF 52018'50", AN ARC LENGTH OF 44.42';
THENCE SOUTH 23005'29" WEST A DISTANCE OF 43.21 FEET;
THENCE SOUTH 42016'27" WEST A DISTANCE OF 37.94 FEET;
THENCE NORTH 46043'53" WEST 353.70 FEET;
THENCE NORTH 02000'24" EAST 316.39 FEET TO A STANDARD BERNTSEN MONUMENT;
THENCE NORTH 02000'24" EAST 598.62 FEET TO A STANDARD BERNTSEN MONUMENT;
THENCE NORTH 02022'13" EAST 374.04 FEET TO A STANDARD BERNTSEN MONUMENT;
THENCE NORTH 02022'13" EAST 396.49 FEET TO A STANDARD BERNTSEN MONUMENT;
THENCE NORTH 02022'13" EAST 538.06 FEET TO A STANDARD BERNTSEN MONUMENT;
THENCE SOUTH 89000'33" EAST 599.00 FEET TO A STANDARD BERNTSEN MONUMENT;
THENCE SOUTH 89000'33" EAST 373.17 FEET TO SAID FOUND MONUMENT AT CENTER
OF SAID SECTION 12 AND THE TRUE POINT OF BEGINNING.
EXCEPT FOR A SIXTY FOOT WIDE PARCEL (SCHLEY BOULEVARD), THE CENTERLINE OF
WHICH IS DESCRIBED AS FOLLOWS:
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REV 84 0001 a inst. (3-18-99) (PD 1-28-02)
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BEGINNING AT THE SAID MONUMENT AT THE CENTER OF SAID SECTION 12, AND THE
TRUE POINT OF BEGINNING;
THENCE ALONG THE CENTER EXPANSION JOINT OF THE THIRTY TWO FOOT WIDE
ROADWAY, SOUTH 02001'25" WEST 1165.03 FEET;
THENCE ON A CURVE TO THE RIGHT, THE CENTER OF WHICH BEARS NORTH 87058'35"
WEST 406.22 FEET, DELTA ANGLE OF 66040'14", AN ARC LENGTH OF 472.67 FEET;
THENCE SOUTH 68041'39" WEST 216.26 FEET;
THENCE ON A CURVE TO THE LEFT, THE CENTER OF WHICH BEARS SOUTH 21018'21"
EAST 452.81, DELTA ANGLE OF 3602.2'15", AN ARC LENGTH OF 287.44 FEET;
THENCE ON A CURVE TO THE LEFT, THE CENTER OF WHICH BEARS SOUTH 5]040'36"
EAST 673.00 FEET, DELTA ANGLE OF 20000'17", AN ARC LENGTH OF 234.98 FEET;
THENCE CONTINUING ALONG SAID CENTER EXPANSION JOINT, SOUTH 12019'07" WEST
105.56 FEET;
THENCE ON A CURVE TO THE LEFT, THE CENTER OF WHICH BEARS SOUTH 77040'53"
EAST 483.00 FEET, DELTA ANGLE OF 26054'48", AN ARC LENGTH OF 226.88 FEET;
THENCE SOUTH 14035'41" WEST 29.02 FEET;
THENCE ON A CURVE TO THE RIGHT, THE CENTER OF WHICH BEARS SOUTH 75024'19"
WEST 100.00 FEET, DELTA ANGLE OF 57053'39", AN ARC LENGTH OF 101.04 FEET;
THENCE CONTINUING ALONG SAID CENTER EXPANSION JOINT, SOUTH 43017'58" WEST
TO THE NORTHERLY RIGHT OF WAY OF WHEATON WAY (FORMERLY STATE ROAD NO.
21B) AND THE TERMINUS;
ALSO EXCEPT FOR A PARCEL (MAGNUSSON WAY), WHICH IS DESCRIBED AS FOLLOWS:
BEGINNING AT THE SAID MONUMENT AT THE CENTER OF SAID SECTION 12, THENCE
ALONG THE CENTER EXPANSION JOINT OF THE THIRTY TWO FOOT WIDE ROADWAY,
SOUTH 02001'25" WEST 281.90 FEET TO THE CENTERLINE INTERSECTION WITH
MAGNUSSON WAY;
THENCE ALONG THE CENTER EXPANSION JOINT OF THE ROADWAY, SOUTH 8]058'35"
EAST 30 FEET TO THE EASTERLY RIGHT OF WAY OF SCHLEY BOULEVARD AND THE TRUE
POINT OF BEGINNING;
THENCE ALONG SAID EASTERLY RIGHT OF WAY, NORTH 02001'25" EAST 55 FEET;
THENCE LEAVING SAID EASTERLY RIGHT OF WAY, SOUTH 42058'35" EAST 35.35;
THENCE SOUTH 87058'35" EAST 206 FEET;
THENCE SOUTH 02001'25" WEST 60 FEET;
THENCE NORTH 87058'35" WEST 206 FEET;
THENCE SOUTH 47001'25" WEST 35.35 FEET TO THE SAID EASTERLY RIGHT OF WAY OF
SCH LEY BOU LEV ARD;
THENCE ALONG SAID EASTERLY RIGHT OF WAY, NORTH 02001'25" EAST 55 FEET TO
THE TRUE POINT OF BEGINNING;
ALSO EXCEPT FOR A PARCEL (SCHLEY WAY), WHICH IS MORE PARTICULARLY
DESCRIBED AS FOLLOWS:
BEGINNING AT POINT "A" ABOVE AND BEING THE TRUE POINT OF BEGINNING;
THENCE SOUTH 02001'25" A DISTANCE OF 40 FEET;
THENCE NORTH 450WEST TO THE EASTERLY RIGHT OF WAY OF SCHLEY BOULEVARD;
THENCE ALONG SAID EASTERLY RIGHT OF WAY NORTH TO A POINT NORTH 450 WEST
OF THE TRUE POINT OF BEGINNING;
THENCE SOUTH 450 EAST TO THE TRUE POINT OF BEGINNING;
ALSO EXCEPT ANY PORTION OF THE PROPERTY LYING SOUTHEASTERLY OF THE
INTERSECTION OF HOMER R JONES DRIVE AND SCHLEY BOULEVARD;
SITUATE IN THE CITY OF BREMERTON, COUNTY OF KITSAP, STATE OF WASHINGTON.
I . I I 200504220350
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04,.-'22/2005 0:3 : 35P
TRAt6t~ATION TITLE HIS CO DT tc7.00 Kitsap CD! WA
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20/04 2005 11:12 FAX 3606984616 1RANSNA1ION SIlVERDAlE @028/038
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ATTACHMENT
The balance, in the sum of One Million One Hundred Seventy-five Thousand
Dollars ($1,175,000.00) shall be paid by Buyer within 10 days of receipt of final
Plat and/or Planned Unit. Development approval including site engineering and
public utility requirements and approvals or one year from Closing, whichever is
sooner ("Final Payment"). Buyer sban execute a promissory note and Seller sball
beentided to a Deed of Trust secured by the property to secure Seller's right to
payment. The promissory note shall bear no interest but shaH be due and payable
pursuant to the terms stated in this paragraph. Said Dee~ of Trust may be
subordinated by mutual agreement of the parties in the event Buyer obtains
alternate financing on the Property, In that case the necessary funds shall be set
aside to secure Final Payment to the City pursuant to the terms of this paragraph
in a manner and form that is acceptable to and approved by the City's Financial
Services Director and City Attorney.
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': jl . I I DT :tC7 . 00 Ki t, sap Co! ~lf\
TRANSNATION TITLE INS CO
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FIRST AMENDMENT TO REAL ESTATE PURCHASE AND SALE
AGREEMENT WITH EARNEST MONEY PROVISION DATED APRIL 8, 2005 I
This First Amendment to Real Estate Purchase and Sale Agreement With Earnest Money
Provision is entered into between the CITY OF BREMERTON (Seller) and EAST
PARK LLC (Buyer) and amends the Real Estate Purchase and Sale Agreement With
Earnest Money Provision dated April 8, 2005 as follows:
A. Section 1 of the Real EstatePurchase and Sale Agreement is amended as follow:
. Amended Exhibits A andB are attached hereto.
B. Section 3 ofthe Real Estate Purchase and Sale Agreement is amended as follows:
3. PURCHASE PRICE. The total purchase price for the Property is Two
Million One Hundred Thousand and No/100 Dollars ($2,100,000),
including earnest money. Nine Hundred Twenty Five Thousand Dollars
($925,000.00), including earnest money shall be paid by Buyer to Seller at
time of closing. The balance, in the sum of One Million One Hundred
Seventy-five Thousand Dollars ($1,175,000.00) shall :be paid by Buyer
within 10 days of receipt of final Plat and/or Planned Unit Development
approval including site engineering and public utility requirements and
approvals or one year from Closing, whichever is sooner ("Final
Payment"). Buyer shall. execute a promissory note and Seller shall be
~ntill~xl to a Deed of Trust secured by the propelty to secure Seller's right
to payment. The promissory note shall bear no interest but shall be due
and pavable pursuant to the ternlS stated in this paragraph. Said Deed of
Trust may be subordinated by mutual agreement of the parties in the event
Buyer obtains alternate financing on the Property. In that case the
necessary funds shall be set aside to secure Final Pavment to the City
pursuant to the tenus of this paragraph in a manner and form that is
acceptable to and approved by the City's Financial Services Director and
City Attorney. The provisions of this section shall survive closing.~
p-ayment of the $925,000 FloIne Street Bunk shall be entitled to a Deed of
+:t'-l:l:s-t-secured by the property in exchange for Horne Street Bank setting
aside the necessary loan funds to pay the City the Final Payment.
C. No other..llerm.s of the Real Estate Purchase and Sale Agreement With Earnest
Money Provision dated April 8, 2005 are amended by this agreement and all terms
1
contained within said Real Estate Purchase and Sale Agreement With Earnest Money
Provision shall remain in full force and effect.
IN WITNESS WHEREOF, the parties hereto have executed this Amendment on the date
set forth below.
BUYER:
EAST PARK LLC N
By: Jack Willing
Its: Manager
Dated:
APPROVED AS TO FORM:
By:,
Roger A. Lubovich, City Attorney
R:\LEGAL\FiJes\Current Active Files\Eastpark\EAST ARK LLC\Jst Amendment to REPSA.doc
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L~le Homes ,1no 425 646 6313 p_3
Apr 2~ 05 10:51a
FROM : BREMERTON CITY ATTORNEY FAX NO. :360-473-5161 Apr. 22 2005 11:07AM P3
contained within said Real Estate Purchase and Sale Agreement With Earnest Money
Provision shall remain in full force: and effC(:t.
IN WITNESS WHEREOF, the parties hereto have execLlted this Amendment on thc,datc
set forth below,
SELLER:
CITY OF BREMER TON
By: Cary Bozeman
Its~ Mayor
Dated:
By:
Roger A, Lubovicl1, City Attorney
R;\LEO^l~\J"IIC11\CLI\TCIlr AC\j"e Fi....'EII.tparlc\F.t\.'JT I'ARK llC\ht Amendment 10 IU)PSA.dr,tc
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"Exhibit "An
A portion of the plat of C.D. Hillman's Navy Yard Addition to Bremerton, per Volume 3 of
plats, Page 129, records of Kitsap County, Washington, together with a portion of the plat of
United States Navy Yard Addition to Bremerton, per Volume 3 of plats, Page 63, records of
Kitsap County, Washington, together with a portion of the northwest quarter of the southeast
quarter of Section 12, Township 24 North, Range 1 East, W.M., situate in Kitsap County,
Washington, more particularly described as follows:
Beginning at a 3" brass disc monument at the center of said Section 12, said
monument being approximately at the intersection of the centerlines of Schley Boulevard and
Twelfth Avenue; thence from said True Point of Beginning, S 89000'16" E 260.66 feet to a
found 7" diameter concrete monument; thenc.eS 02001'25" W 314.09 feet to a standard
Berntsen monument; thence S 02001 '25" W 575.25 feet to a standard Berntsen monument;
thence S 02001 '25" W 410.12 feet to a standard Berntsen monument; thence N 88027'57"
W 260.63 feet to a standard Berntsen monument, also being Point "A"; thence S 02001 '25"
W 250.04 feet to a standard Berntsen monument; thence N 8r58'35" W 139.80 feet to a
standard Berntsen monument; thence N 29044'22" W 77.03 feet to a standard Berntsen
monument set 1.0 foot from the back edge of the sidewalk; thence along a curve to the right
with a radial bearing of N 29044'22" W, radius of 427.72', delta angle of 08028'14", an arc
length of 63.23'; thence S 68043'52" W 216.26 feet; thence along a curve to the left with a
radial bearing of S 210 16'08" E, radius of 431.31', delta angle of 36022'15", an arc length of
273.79'; thence along a curve to the left with a radial bearing of S 5r38'23" E, radius of
651.50', delta angle of 20000'17", an arc length of 227.47'; thence S 12021'20" W105.56
feet; thence along a curve to the left with a radial bearing of S 7r40'53" E, radius of 461.50',
delta angle of 26054'48", an arc length of 216.78'; thence S 14033'28" E 72.06 feet; thence
along a curve to the left with a radial bearing of N 750 26'32" E, radius of 48.65', delta angle
of 52018'50", an arc length of 44.42'; thence S 23005'29" W a distance of 43.21 feet; thence
S 42016'27" W a distance of 37.94 feet; thence N 46043'53" W 353.70 feet; thence N
02000'24" E 316.39 feet to a standard Berntsen monument; thence N 02000'24" E598.62
feet to a standard Berntsen monument; thence N 02022'13" E 374.04 feet to a standard
Berntsen monument; thence N 020 22'13" E 396.49 feet to a standard Berntsen monument;
thence N 02022'13" E 538.06 feet to a standard Berntsen monument; thence S 89000'33" E
599.00 feet to a standard Berntsen monument; thence S 890 00'33" E 373.17 feet to said
found monument at center of said Section 12 and the True Point of Beginning.
Except for a sixty foot wide parcel (Schley Boulevard), the centerline of which is described as
follows:
Beginning at the said monument at the center of said Section 12, and the True Point
of Beginning; thence along the center expansion joint of the thirty two foot wide roadway, S
02001 '25" W 1165.03 feet; thence on a curve to the right, the center of which bears N
8r58'35" W 406.22 feet, delta angle of 66040'14", an arc length of 472.67 feet; thence S
68041'39" W 216.26 feet; thence on a curve to the left, the center of which bears S
210415'18" E 452.81, delta angle of 36022'15", an arc length of 287.44feet; thence on a
curve to the left, the center of which bears S 58007'33" E 673.00 feet, delta angle of
20000'17", an arc length of 234.98 feet; thence continuing along said center expansion joint,
S 12019'07" W 105;56 feet; thence on a curve to the left, the center of which bears S
77040'53" E 483.00 feet, delta angle of 26054'48", an arc length of 226.88 feet; thence S
14035'41" W 29.02 feet; thence on a curve to the right, the center of which bearsS
75024'19" W 100.00 feet, delta angle of 5r53'39", an arc length of 1 01.04 feet; thence
Legal Description for Eastpark
4/20/2005
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continuing along said center expansion joint, S 43017'58" W to the northerly right of way of
Wheaton Way (formerly State Road No. 21 B) and the terminus;
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Also except for a parcel (Magnusson Way), which is described as follows:
Beginning at the said monument at the center of said Section 12, thence along the
center expansion joint of the thirty two foot wide roadway, S 02001'25" W 281.90 feet to the
centerline intersection with Magnusson Way; thence along the center expansion joint of the
roadway, S 8r58'35" E 30 feet to the easterly right of way of Schley Boulevard and the True
Point of Beginning; thence along said easterly right of way, N 02001'25" E 55 feet; thence
leaving said easterly right of way, S 42058'35" E 35.35;. thence S 8r58'35" E 206 feet;
thence S 02001'25" W 60 feet; thence N 8r58'35" W 206 feet; thence S 4r01'25" W
35.35 feet to the said easterly right of way of Schley Boulevard; thence along said easterly
right of way, N 02001'25" E 55 feet to the True Point of Beginning;
Also except for a parcel (Schley Way), which is more particularly described as follows:
Beginning at Point "A" above and being the True Point of Beginning; thence S
2001'25" 40 feet; thence N 450 W to the easterly right of way of Schley Boulevard; thence
along said easterly right of way north to a point N 450 W of the True Point of Beginning;
thence S 450 E to the True Point of Beginning .
Also except any portion of the prope.rty lying southeasterly of the intersection of Homer R
Jones Drive and Schley Boulevard.
Subject to easements for Puget Sound Power & Light Co, recorded under Kitsap County
Assessor File Number 371005 and 426131.
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Legal Description for Eastpark
4/20/2005
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EXHIBIT MAP FOR -
EAST PARK SALE AREAS
4/20/05- I A=1614972 SF.
.,.J.
PORTION OF SECTION 12, .1- B=59703 SF
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T.24.N.,R.1 E.,W.M. C=228021 S.F.
CITY OF BREMERTON 0=22534 S.F.
KITSAP, WA TOTAL = 1925230 SF = 44.19 AC.
REAL ESTATE PURCHASE AND SALE AGREEMENT
WITH EARNEST MONEY PROVISION
This contract controls the terms of the sale of real property.
This Agreement is entered between the CITY OF BREMERTON, a Washington municipal
corporation, whose mailing address is 345 6th Street, Bremerton, Washington 98337, ("Seller"),
and EAST PARK LLC, whose mailing address is 1601 114th Avenue S.E., Suite 100, Bellevue,
Washington 98004, ("Buyer"), for the sale and purchase of real property as follows:
1. PROPERTY. The property, including all improvements and appurtenances
situated thereon, which Buyer agrees to buy and Seller agrees to sell, is
commonly known as Eastpark, which Buyer agrees to buy and Seller agrees to
sell, (the "Property"), and which Property is legally described in Exhibit A,
attached hereto and incorporated herein by this reference. A map indicating the
location of the Property is also attached as Exhibit B, incorporated herein by this
reference.
2. EARNEST MONEY. Received from Buyer, Five Thousand and Noll 00 Dollars
($5,000.00) in the form of cash, as earnest money and part payment on the
purchase price of the following described real estate.
3. PURCHASE PRICE. The total purchase price for the Property is Two Million
One Hundred Thousand and No/1 00 Dollars ($2,100,000), including earnest
money. Nine Hundred Twenty Five Thousand Dollars ($925,000.00), including
earnest money shall be paid by Buyer to Seller at time of closing. The balance, in
the sum of One Million One Hundred Seventy-five Thousand Dollars
($1,175,000.00) shall be paid by Buyer within 10 days of receipt of final Plat
and/or Planned Unit Development approval including site engineering and public
utility requirements and approvals or one year from Closing, whichever is sooner
("Final Payment"). Upon payment ofthe $925,000 Home Street Bank shall be
entitled to a Deed of Trust secured by the property in exchange for Home Street
Bank setting aside the necessary loan funds to pay the City the Final Payment.
4. CONTINGENCIES. This agreement is contingent upon:
(a) Acceptance of its terms by the Bremerton City Council.
(b) Buyers review and approval of the title report on the property prior to
Closing.
(c) Should any of these contingencies not be met prior to closing, then this
Agreement shall terminate except neither Buyer nor Seller shall have any
further rights, duties or obligations hereunder, except that the Earnest
Money held in escrow shall be immediately returned to Buyer.
5. ADDITIONAL TERMS AND CONDITIONS. This agreement is further
subject to the following terms:
(a) The purchase price includes Two Hundred Fifty Thousand Dollars
($250,000.00) to be applied to any offsite storm sewer improvements,
modifications or repairs for water conveyance from the property to Puget
Sound. Said payment shall be the sole contribution and requirement for
off-site stormwater improvements.
Page 1 of4
(b) Buyer will be required to do a traffic study that analyzes the impacts of its
proposed development and will be required to mitigate those impacts.
Buyer, however, shall not be required to install a traffic signal at the
intersection of Wheaton Way and Magnuson Blvd. nor will they be
required to lower the roadway section south of this intersection to improve
site distances should either of these remedies be required by the final
traffic study. Any other required mitigation shall be the responsibility of
the Buyer.
(c) Buyer may, at its option, leave all existing utilities in place in Schley Blvd
for Buyers use including sewer, storm and water lines. Seller makes no
warranty or assurance of the condition, usability or serviceability of said
existing lines.
(d) Buyer agrees to replace the curbs and sidewalks on both sides of Schley
Blvd. and to overlay the current concrete base with asphalt. Prior to the
required overlay Buyer will be required to repair those concrete panels
that have already failed.
(e) Buyer may be required to bond site improvements, streets, sidewalks, and
utility work or provide alternative financial guarantees acceptable to the
City. Buyer will be allowed to bond each phase ofthe project separately
and get that bond (or alternate guarantee) released separately from other
phases.
(t) Buyer will construct all improvements in accordance with applicable City
of Bremerton design standards.
(g) Buyer will conduct at least one open house to present the project concept
and design characteristics within 90 days of signing of this purchase and
sale agreement.
(h) The design will include housing of approximately 300 or more housing
units including not less than 75 multifamily units.
(i) Buyer agrees that build out ofthe project will occur within not more than
four phases over a period not to exceed four years from the receipt of final
Plat and/or Planned Unit Development approval.
6. CONVEYANCE AND CONDITION OF TITLE. The title to the real property
shall be conveyed by Seller to Buyer at closing by Statutory Warranty Deed, free
and clear of all liens, encumbrances or defects except those described in
Paragraph 7 below.
7. TITLE INSURANCE. At Closing, Seller shall cause Transnation Title
Insurance Company, to issue a standard form owner's policy of title insurance to
Buyer in an amount equal to the total purchase price ofthe Real Property. For
purposes of the Agreement, the following shall not be deemed encumbrances or
defects: rights reserved and federal patents or state deeds; building or use
restrictions consistent with current zoning, and utility and road easements of
record. If title cannot be made so insurable prior to the Closing date called for
herein, unless, Buyer elects to waive such defects or encumbrances, this
agreement shall terminate.
8. CLOSING COSTS AND PRO-RATIONS. The cost of escrow shall be shared
equally between Buyer and Seller, except those fees which are expressly limited
by Federal Regulation.
Page 2 of 4
9. CLOSING OF THE SALE. WITH THE UNDERSTANDING THAT TIME IS
OF THE ESSENCE FOR THIS AGREEMENT. This sale shall be closed by April
22, 2005, which shall also be the termination date ofthis agreement unless said
closing date is extended in writing by mutual agreement of the parties. When
notified, the Buyer and Seller will deposit, without delay, in escrow with
Transnation Title, all instruments and monies required to complete the transaction
in accordance with this agreement. Closing, for the purpose of this agreement, is
defined as the date that all documents are executed and the sale proceeds are
available for disbursement to the Seller.
10. POSSESSION. Buyer shall be entitled to possession upon the closing.
11. SELLER'S REPRESENTATIONS. Seller represents:
(a) that he/she will maintain the property in present or better condition until
time of agreed possession,
(b) that he/she has no knowledge or notice from any governmental agency of
any violation oflaws relating to the subject property .
(c) that the property is not encumbered by any leases.
12. SELLER'S ENVIRONMENTAL REPRESENT A TIONS. Seller represents
that to the best of its knowledge that it is not aware of existence of, or has caused
or allowed to be caused, any environment condition (including, without
limitation, a spill, discharge or contamination) that existed as of and/or prior to
the closing date or any act of omission occurring prior to the closing date, the
result of which may require remedial action pursuant to any federal, state or local
law or may be the basis for the assertion of any third party claims, including
claims of governmental entities. This provision shall survive the closing and be in
addition to Seller's obligation for breach of a representation or warranty as may
be set forth herein.
13. DEFAULT AND ATTORNEY'S FEES
(a) Attorney's Fees and Costs. In the event oflitigation to enforce any of
the terms or provisions herein, each party shall pay all its own costs and
attorney's fees.
14. NON-MERGER. The terms, conditions, and provisions of this Agreement shall
not be deemed merged into the deed, and shall survive the Closing and continue
in full force and effect.
15. NOTICES. All notices required or permitted to be given hereunder shall be in
writing and shall be sent U.S. certified mail, return receipt requested, or by
facsimile transmission addressed as set forth below:
(a) All notices to be given to Buyer shall be addressed as follows:
Mayor
City of Bremerton
345 6th Street
Bremerton, Washington 98337
Page 3 of 4
(b) All notices to be given to Seller shall be addressed as follows:
Jack Willing
East Park LLC
1601 114th Ave. S.E., Suite 100
Bellevue, Washington 98004
Either party hereto may, by written notice to the other, designate such other
address for the giving of notices as being necessary. All notices shall be deemed
given on the day such notice is personally served, or on the date of the facsimile
transmission, or on the third day following the day such notice is mailed in
accordance with this paragraph.
16. ENTIRE AGREEMENT. This agreement including all parties hereto and their
respective heirs, successors and assigns; and the terms of this Agreement shall
survive the incorporated exhibits, constitutes the full understanding between the
parties. There have been no verbal or other agreements that modify this
agreement.
17. BINDING EFFECT AND SURVIVAL. This Agreement shall be binding upon
parties hereto and their respective heirs, successors and assigns; and the terms,
conditions and provisions of this Agreement shall survive the closing of this
transaction.
18. DATE OF MUTUAL ACCEPTANCE. For the purposes of this Agreement, the
date of mutual acceptance of this Agreement shall be the last date on which the
parties to this Agreement have executed this Agreement as indicated below.
IN WITNESS WHEREOF, the parties hereto have executed this Agreement on the date set
forth below.
BUYER SELLER:
. ~remerton
..=7~
-
Jack Willing By: Cary Bozeman
Its: 1/JJft/~~ Its: Mayor
Dated: .y~~ Dated: 'II o//?~
APPRO
By.
Roger . Lubovich, City Attorney
R:\LEGAL\Files\Current Active Files\Eastp
Page 4 of 4
II
Exhibit "A"
This legal description is based on the svrvey map dated June 20, 1990.
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,111111 III II II
All "Standard BemtsenMonumF,nt,sqia:v,fl'Navy logo and are stamped "1990 L.S. 15661".
. ~ II. f 'I III. I
Beginning at a found 3" braf~~~~~~driument at the center of Section 12, Township 24 North,
Range 1 East, W.M., sai~~CI'1t).telilof said Section 12 being approximately at the intersection of the
centerlines ofSchley:s~~teya:.;a'~d Twelfth Avenue; thence from said TRUE POINT OF
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BEGINNING ,1"",'1' 'I' ,,'I
" ,',I, I, I 5
. S 890 OO,~f.?::'$la 'distance of:~p.~. p feet to a found 7" diameter concrete
l~oPti~~nt thence/",I, ",,:'
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S 0210' Qll ~~~" ,W a dist~nee: Rf,~ 14.09 feet to a standard Berntsen monument
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:111l1:11t}}~ce I I I. ( IIIII
1" 'I '1'" I ~
"I"S,?~~,~t25" W ~~lS.t~~PlP 575.25 feet to a standard Berntsen monument
I, I. I, I 'thence I', II
II 111 I. II I
S,O~b 01 '25" W a distance of 410,12 feet to a standard Berntsen monument
thence
N 880 27' 57" W a distance of 260,63 feet to a standard Berntsen monument
thence
S 02001 '25" W a distance of 250.04 feet to a standard Berntsen monument
thence
N 870 58'35" W a distance of 139.80 feet to a standard Berntsen monument
thence
N 29044'22" W a distance of 77.03 feet to a standard Berntsen monument
set 1.0 foot back of edge of sidewalk thence
Along a curve with a radial bearing ofN 290 44' 22" W a radius of 427.72' a delta
angle of 080 28' 14" and an arc length of63.23' thence
S 680 43'52" W a distance of216.26 feet thence
Along a curve with a radial bearing of S 210 16' 08" E a radius of 431.31' a delta
angle of360 22' 15" and an arc length of273.79' thence
Along a curve with a radial bearing ofS 57038' 23" E a radius of651.50' a delta
angle of200 00' 17" and an arc length of227.47' thence
S 12021 '20" W a distance of 105.56 feet thence
Along a curve with a radial bearing of S 770 40' 53" E a radius of 461.50' a delta
angle of260 54' 48" and an arc length of216,78' thence
S 14033'28" E a distance of 72.06 feet thence
Along a curve with a radial bearing ofN 750 26' 32" E a radius of 48.65' a delta
angle of 520 18 l 50" and an arc length of 44.42' thence
S 23005'29" W a distance of 43.21 feet thence
S 420 16'27" W a distance of 57.94 feet thence
N 46043'53" W a distance of336.50 feet thence
N 02000'24" E a distance of343.00 feet to a standard Berntsen monument
I; .1 " : ,I I.:~ I I I . 200212170100
jlt; Pllgt' , 7 of B
1e117/2SS2 sa: BaR
BREMERTON CITY or QCD ~Uli~ Kitsap COI WA
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thence
N 020 00'24" E a distance of 598.62 feet to a standard Berntsen monument
thence
N 020 22' 13" E a distance ofJ:74.04,feet to a standard Berntsen monument
\ II III J
thence ,,' "'" ,,' ...
N 020 22' 13" E a distance df1'~J49 feet to a standard Berntsen monument
I. It I .
thence I,ll"" ,,, I
J ,II ','II'
N 020 22'13." E a ~i tancr1?f538.06 feet to a standard Berntsen monument
II lilt 'II
thence 1"", '""'""
I ,I II "
S 890 00"33';,~ ivt11sf2lilU'ce of 59.9,00 feet to a standard Berntsen monument
" I " I" I
theQ.c~"'1 ... I' 1""" I
S 890 OO"33~',E:.a distance Of'3b3!bleet to a found 3" brass disc monument
1",'\lhd'th~I~RUE p.o'tNT. F BEGINNING.
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111111:'11'::11111 I I II 111,,1
&lai'd, aIljelil,,Q:ontains 48.]~4,Jctes.
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And a P,r,?~~ described in a'S!::, tory Deed from the City ofBremerton filed in the office of the
Kitsap County Recorder in Volume 315 Page 524.
The East 30 feet of the following described tract:
BEGINNING at the Southeast comer of the Northeast quarter of the Northwest quarter of Section
12, Township 24 North, Range 1 East ofW,M., thence North 220 feet; thence west 198 feet;
thence South 220 feet; thence East 198 feet to the true point of beginning, containing one acre
more or less, except the thirty feet along South margin thereof for roadway purposes,
Said area contains 0.13 acres.
Subject to the following easements:
Easement reserved in Civil Action 347 for public roads, granted April 15, 1941
Easement to Puget Sound Power & Light Co for a power line, granted Dec. 8, 1942
Easement to the State of Washington for a highway, granted Nov. 3, 1943
Easement to State of Washington for sidewalks, granted April 20, 1944
Easement to Puget Sound Power & Light Co for a power line, granted April1?, 1946
- . - 200212170100
'I' 'I -
Page: a of 8
j; , 1~/171,882 8S:B8A
BREMERTON CITY OF QeD t2€. &.~ Ki tsap COI ~A
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