HomeMy WebLinkAbout200605300268
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After recording return to:
City of Bremerton, a Washington
345 6th Street
Bremerotn, W 98337
" "" 11111111" 1111111 "
TRANSNATION TITLE INS CO DEED $34.~~
200605300268
Page: 1 of 3
~5!3~!2~~6 ~2:28P
Kitsap Co, WA
KITSAP COUNTY TR~ASURER EXCISE
1Il5/311l/211l1ll6
2006EX04531
,Total : $41835.00
Clerk's Initial
Legal Description (abbreviated): LOTS 1 THRU 12, BLOCK 21, TOWN OF BREMERTON
Additional Legal on page: Exhibit "Au
Assessor's Tax Parcel 10#: 3718-021-001-0002
Reference: 20173049-101-KAB
STATUTORY WARRANTY DEED
THE GRANTOR(S) Kitsap Community Federal Credit Union, a federally chartered credit
unionKitsap Employees Credit Union~~or and in consideration of Ten ($10.00) Dollars and
other good and valuable consideration in hand paid, conveys and warrants to City of Bremerton,
a Washington, a municipal corporation the following described real estate, situated in the
County of Kitsap, State of Washington:
See Exhibit A attached hereto and made a part hereof.
** FORMALLY KNOWN AS KITSAP FEDERAL CREDIT UNION, NAVY YARD METAL
TRADES CREDIT UNION AND KITSAP EMPLOYEES CREDIT UNION
Subject to: Those items specifically set forth on Exhibit "A" attached hereto.
Dated: Mav 18. 2006
SELLER:
~L.~
Kitsap Community Federal Credit Union
) EIlt'ot e. ffrf83) R-esfceo
State of Washinqton
tJ. L.... SS:
County of n\ T";:>tlP
On this ~day of -.H.o...~ ' ;J.OC (p , before me the undersigned, a Notary
Public in and for the State of ashmqton, duly appomted and sworn personally appeared
€ t'ot r to me known to e the
of the
corporation that executed the foregoing instrument an acknowledged the said instrument to be
the free and voluntary act and deed of said. corporation, for the uses and purposes therein
mentioned and on oath stated that h.e., S authorized to execute tile said
instrument and that the seal affixed (if any) is the corporate seal of said cor 'on.
Given under my hand and official seal the day and year last above writt p..~N It
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Notary Public i and for he State of : ." ,r:j :
Residing at '. r-JU, \ .r~l" ~
My Appointment expires: -Ol.:oft ~ "~,ry . -:\' ,.p
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Statutory Warranty Deed
LPB-10 (7/97)
TRANSNATION TITLE INSURANCE COMPANY
,
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Exhibit A
PARCEL I:
LOTS 1 AND 2, BLOCK 21, TOWN OF BREMERTON, AS PER PLAT RECORDED IN VOLUME 2 OF
PLATS, PAGE 30, RECORDS OF KITSAP COUNTY AUDITOR;
SITUATE IN THE CITY OF BREMERTON, COUNTY OF KITSAP, STATE OF WASHINGTON,
PARCEL II:
LOTS 3 THROUGH 12, BLOCK 21, TOWN OF BREMERTON, AS PER PLAT RECORDED IN VOLUME 2
OF PLATS, PAGE 30, RECORDS OF KITSAP COUNTY AUDITOR;
SITUATE IN THE CITY OF BREMERTON, COUNTY OF KITSAP, STATE OF WASHINGTON.
1111111111I11111 111111
TRANSNATION TITLE INS CO DEED $34.SS
200605300268
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Kitsap Co, WA
... ". ..
LOCAL IMPROVEMENT ASSESSMENTS, IF ANY, LEVIED BY THE CITY OF BREMERTON.
ORDINANCE NO. 3050 AND THE TERMS AND CONDITIONS THEREOF:
RECORDED: NOVEMBER 20, 1972
RECORDING NO.: 1034784
REGARDING: ZONING
AFFECTS LOTS 7 TH RU 12
ORDINANCE NO. 3470 AND THE TERMS AND CONDITIONS THEREOF:
RECORDED: OCTOBER 23, 1978
RECORDING NO.: 7810230011
REGARDING: ZONING
AFFECTS LOTS 5 AN D 6
AMENDED ZONING MAP RECORDED UNDER RECORDING NO. 7810230012
ORDINANCE NO. 3647 AND THE TERMS AND CONDITIONS THEREOF:
RECORDED: JULY 23, 1981
RECORDING NO.: 8107230067
REGARDING: ZONING
AFFECTS LOT 3
ORDINANCE NO. 3871 AND THE TERMS AND CONDITIONS THEREOF:
RECORDED: DECEMBER 15, 1983
RECORDING NO.: 8312150094
REGARDING: ZONING
AFFECTS LOT 3 THROUGH 12
EASEMENT AND THE TERMS AND CONDITIONS THEREOF:
GRANTEE: PUGET SOUND POWER & LIGHT COMPANY, A WASHINGTON
CORPORATION
UNDERGROUND ELECTRIC SYSTEM
THE NORTH 10 FEET OF LOT 7 HEREIN DESCRIBED
OCTOBER 3, 1984
8410030035
PURPOSE:
AREA AFFECTED:
RECORDED:
RECORDING NO.:
11111111111111111111 II
TRANSNATION TITLE INS CO DEED $34.SS
200605300268
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Kitsap Co, WA
REAL ESTATE PURCHASE AND SALE AGREEMENT
WITH EARNEST MONEY PROVISION
This contract controls the terms of the sale of real property.
(Please read carefully before si2:nin2:.)
This Agreement is entered between the CITY OF BREMERTON, a Washington municipal
corporation, whosemailingaddressis3456thStreet.Suite 600, Bremerton, Washington 98337,
("Buyer"), and KITSAP COMMUNITY FEDERAL CREDIT UNION, a federally chartered credit
union, ("Seller"), 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 1025 Burwell
Street, Bremerton, Washington 98337 (the "Property"), and which Property is legally described in
Exhibit A, attached hereto and incorporated herein by this reference. A site plan of the Property is
attached as Exhibit B, incorporated herein by this reference.
2. EARNEST MONEY. Upon mutual execution ofthis agreement, Buyer shall deposit
with Transnation Title Company, Twenty-five Thousand Dollars ($25,000.00) in the form of a
promissory note, as earnest money and part payment on the purchase price ofthe following described
real estate. Said note is due and shall be converted to cash upon removal of the contingencies set
forth in section 7 below.
3. PURCHASE PRICE.
( a) The total purchase price for the Property is Two Million Three Hundred Fifty
Thousand Dollars ($2,350,000), including earnest money.
(b) The purchase price is payable as follows:
(1) Buyer shall pay seller Earnest Money of Twenty Five Thousand
Dollars ($25,000) as set for in paragraph 2 above.
(2) Buyer shall pay seller at closing One Million One Hundred Fifty
Thousand Dollars ($1,150,000) on March 15,2006.
(3) Buyer shall pay seller the balance of ($1,175,000) on July 31, 2006,
except, time for payment may be extended as provided for in
paragraph 5(c).
4. CLOSING. Shall occur on March 15,2006.
5. POSSESSION.
(a) Buyer shall receive possession of the westerly portion ofthe property as set.
forth on the site plan attached as Exhibit B at Closing. Said portion is
marked as "Annex Property." Upon obtaining possession, Buyer shall have
full use thereof and shall be entitled to commence earthwork and construction
of improvements. The Buyer and Seller will work together to provide for
mutually acceptable access for Sellers credit union members to the main
building located on that portion ofthe property which is not part ofthe Annex
Property.
REAL ESTATE PURCHASE AND SALE AGREEMENT
Page 1 of 6
(jy
(b) Buyer shall receive possession of the balance of the property on July 31,2006
excepting as provided for in section 5( c). Seller shall provide general
maintenance of the structure( s) and related grounds during Sellers possession
ofthe easterly portion ofthe property prior to Buyers possession ofthe same.
Seller's status while in possession of the easterly portion ofthe property shall
be that of a tenant.
(c) Seller may extend transferring possession to the balance of the property
beyond July 31,2006 for a period not to exceed four months. Notice ofintent
to extend date of possession shall be given in writing not less than 60 days
prior to the first day of the respective month(s) seller intends to retain
possession. In the event seller extends delivery of possession to the balance
of the property, the payment by buyer of the purchase price balance provided
for in paragraph 3(b )(2) shall be delayed until transfer to seller of said
remaining property.
(d) This paragraph shall survive Closing.
6. CONTINGENCIES. This agreement is contingent upon:
(a) Acceptance of its terms by the Bremerton City Council and the Kitsap
Community Federal Credit Union Board of Directors on or before July 1,
2005.
(b) Buyers review and approval of the title report on the property on or before
forty-five (45) days of receipt of the title report.
(c) Prior to vacating the property, Seller removing all personal property,
equipment, and fixtures except those items as identified in Exhibit C, which
list will be attached prior to closing. Buyer shall purchase those items listed
in Exhibit D at a price of $1 0,000 to prior to closing.
(d) A Feasibility Study as follows:
(1) Buyer shall have three (3) months from the date of mutual acceptance
of this Agreement to determine, in Buyer's sole and absolute
discretion, if the Real Property is feasible for investment and/or
development by Buyer for its uses.
(2) Buyer's feasibility study may include (but is not limited to) a Phase I
and/or Phase II environmental assessment, utilities availability and
capacity, access availability, zoning, preliminary architectural and
engineering studies, marketing feasibility.
(3) A Phase II environmental assessment may be conducted which
generally will consist of on-site sampling, including the digging or
boring of test holes for soil samples. BY EXECUTING THIS
AGREEMENT, SELLER HEREBY AUTHORIZES BUYER A
RIGHT OF ENTRY ON TO THE PROPERTY FOR THE PURPOSE
OF CONDUCTING THIS FEASIBILITY STUDY AND TESTING
AT SUCH LOCATION AND IN SUCH MANNER AS MAY BE
APPROVED IN ADVANCE BY SELLER.
(4) Buyer agrees to conduct its feasibility study at its sole cost and
expense; and if Buyer does not remove the feasibility contingency on
or before the expiration of the feasibility period, then Buyer also
REAL ESTATE PURCHASE AND SALE AGREEMENT
Page 2 of 6
v
agrees, if requested by Seller, to deliver to Seller copies of all
information and documentation obtained by Buyer in connection with
its feasibility study.
(5) If Buyer fails to notify Seller of its approval of the Real Property, in
writing, on or before the expiration of the feasibility study period,
then this Agreement shall be terminated, and neither Buyer nor Seller
shall have any further rights, duties or obligations hereunder, except
that the Earnest Money held in Accountable Escrow, by Buyer to
Seller shall be immediately returned to Buyer. Buyer agrees to return
the Real Property to its original state (i.e., fill all boring holes, etc.).
Should any of these contingencies not be met prior to closing, then this Agreement shall
terminate and neither Buyer nor Seller shall have any further rights, duties or obligations hereunder,
except that the Earnest Money held by Transnation Title, shall be immediately returned to Buyer.
7. 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 9 below.
8. TITLE INSURANCE. At Closing, Seller shall cause Transnation Title Company, to
issue a standard form owner's policy of title insurance to Buyer in an amount equal to the total
purchase price of the Real Property, and insuring liens against the Real Property being discharged by
Seller shall be paid from Seller's funds at Closing. For purposes of this 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.
Iftitle 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.
9. CLOSING COSTS AND PRORATIONS. The cost of escrow shall be shared
equally between Buyer and Seller, except those fees which are expressly limited by Federal and
State Regulation. Seller shall pay for excise tax and revenue stamps. Taxes, water and other utility
charges, if any, shall be pro-rated as of date of closing unless otherwise agreed.
10. CASUALTY LOSS. If prior to closing, improvements on said premisC)s shall be
destroyed or materially damaged by fire or other casualty, this agreement, at option of the Buyer,
shall become null and void.
11. SELLER'S REPRESENTATIONS. Seller represents:
(a) that it will maintain the property in present or better condition until time of
agreed possession,
(b) that it has no knowledge or notice from any governmental agency of any
violation of laws relating to the subject property.
(c) that the property is not encumbered by any leases.
12. HAZARDOUS SUBSTANCES. To the best of Seller's knowledge, the Property is
not in violation of any law, ordinance, rule or regulation relating to the environmental conditions
REAL ESTATE PURCHASE AND SALE AGREEMENT
Page 3 of 6
ff
thereon. Moreover, Seller represents, warrants and agrees that Seller has not used, generated,
manufactured, produced, stored, released, discharged or disposed of on, under or about the Property
(or off-site of the Property that might affect the Property) or transported from the Property, any
Hazardous Substance (as defined below) in violation of Environmental Laws (as defined below), nor
to the best of Seller's knowledge has any Hazardous Substance been used, generated, manufactured,
produced, stored, released, discharged or disposed of on, under or about the Property or off-site of
the Property in violation of Environmental Laws that might affect the Property. To the best of
Seller's knowledge no underground storage tanks are currently located on the Property. The term
"Hazardous Substance" means any hazardous or toxic substance, material or waste, pollutants or
contaminants, as defined, listed or regulated now or in the future by any federal, state or local law,
ordinance, code, regulation, rule, order or decree regulating, relating to or imposing liability or
standards of conduct concerning, any environmental conditions, health or industrial hygiene
(collectively, "Environmental Laws"), including without limitation, (i) chlorinated solvents, (ii)
petroleum products or by-products, (iii) asbestos, (iv) polychlorinated biphenyls, and (v) anything
that would be a hazardous waste, material or substance, toxic substance or pollutant, as defined
under the federal Comprehensive Environmental Response, Compensation and Liability Act of 1980,
as amended, 42 US.C. 99601 et seq.; Hazardous Materials Transportation Act, 49 US.c. 9 1801 et
seq.; Resource Conservation and Recovery Act, 42 US.C. 96901 et seq., the Clean Water Act, 42
US.C.9 1251 et seq., the Washington Environmental Policy Act, RCW Ch. 43.21, the Washington
Water Pollution Control Act, RCW 90.48.010 et seq., the Washington Hazardous Waste
Management Act, RCW Ch. 70.105, the Washington Model Toxics Control Act, RCW Ch. 70.1 05D,
and the regulations promulgated thereunder.
13. INDEMNIFICATION.
(a) GENERAL. Seller shall defend, indemnify and hold the City, its officers,
officials, employees, agents and volunteers harmless from any and all claims,
injuries, damages, losses or suits, including all legal costs and attorney fees,
arising out of or in connection with the Seller's possession, use, occupancy
and maintenance of the portion of the site in which it retains possession
following Closing.
(b) ENVIRONMENTAL. Seller shall protect, indemnify, defend and hold
harmless Buyer and its directors, officers, employees, agents, parents,
subsidiaries, successors and assigns from any loss, damage, cost expense or
liability (including reasonable attorneys' fees and costs) directly or indirectly
arising out of or attributable to the Sellers use, generation, manufacture,
production, storage, release, threatened release, discharge, disposal or
presence of a Hazardous Substance on, under or about the Property (or off-
site on property owned or operated by Seller that affected the Property) or a
breach of any representation, warranty, covenant or agreement contained in
Section 13 of this Agreement including, without limitation, the costs of any
required or necessary repairs, cleanup or detoxification of the Property and
the preparation and implementation of any closure, remedial or other required
plans. Seller's indemnification is limited to activities of Seller and not of
prior owners or occupants of the property.
(c) The foregoing indemnification shall survive Closing.
REAL ESTATE PURCHASE AND SALE AGREEMENT
Page 4 of 6
~
14. DEFAULT AND ATTORNEY'S FEES.
(a) Buyer's Default. IF BUYER DEFAULTS HEREUNDER EXCEPT FOR
DEFAULT OF PAYMENT UNDER SECTION 3(b)(3), SELLER'S SOLE
REMEDY SHALL BE LIMITED TO DAMAGES AGAINST BUYER IN
THE LIQUIDATED AMOUNT OF THE EARNEST MONEY PAID BY
THE BUYER. BUYER AND SELLER INTEND THAT SAID AMOUNT
CONSTITUTES LIQUIDATED DAMAGES: AND SO AS TO AVOID
OTHER COSTS AND EXPENSES TO EITHER P ARTY IN
CONNECTION WITH POTENTIAL LITIGATION ON ACCOUNT OF
BUYERS'DEFAULT. BUYER AND SELLER BELIEVE SAID AMOUNT
TO BE A FAIR ESTIMATE OF ACTUAL DAMAGES.
(b) Seller's Default. IF SELLER DEFAULTS HEREUNDER, BUYER SHALL
HAVE ALL THE RIGHTS AND REMEDIES AVAILABLE AT LAW OR
IN EQUITY.
(c) 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.
15. NON-MERGER. The terms, conditions, and provisions ofthis Agreement shall not
be deemed merged into the deed, and shall survive the Closing and continue in full force and effect.
16. 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, Suite 600
Bremerton, Washington 98337
(b) All notices to be given to Seller shall be addressed as follows:
Elliot Gregg
President/CEO
Kitsap Comrriunity Federal Credit Union
PO Box 990
Bremerton, Washington 98337-0215
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 ofthe facsimile transmission, or on the third day following
the day such notice is mailed in accordance with this paragraph.
17. ENTIRE AGREEMENT. This agreement, including all incorporated exhibits,
constitutes the full understanding between seller and buyer. There have been no verbal or other
agreements that modify this agreement.
REAL ESTATE PURCHASE AND SALE AGREEMENT
Page 5 of 6m
~
18. 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.
19. 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:
::C::B~
Cary Bozeman, Mayor
Dated: f? /1 r- /0"--
. I
APPROVED AS TO FORM:
~~.~
By: . ___ >----.".
.-- Rog :~UbOV~h' City Attorney
---.,
KlTSAP COMMUNITY
FED~ C~DIT UNION
By:~ ~ ~
Elliot Gregg, President/CEO
Dated: ~ " 1..--00 ~
Dated: .A-\-t C-.vt !> I
,
\S- ?OQ S-
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REAL ESTATE PURCHASE AND SALE AGREEMENT
Page 6 of 6
EXHIBIT" A"
LEGAL DESCRIPTION
Lots 1 through 12, Block 21, Town ofBremerton as per plat recorded
in Volume 2 of Plats, Page 30, records of Kitsap County,
Washington.
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EXHIBIT "C"
PERSONAL PROPERTY, EQUIPMENT, AND FIXTURES
TO REMAIN ON PROPERTY
Vaults
Motor Generator
Security Access Equipment
HV AC Equipment
f/
BREMERTON FACILITY & WEST ANNEX INVENTORY AS OF OCTOBER 19, 2004
DEPARTMENT DESKS BBF FF LF BCC BCFS BCOIW CRED CWD MISC TABLES
Marketing 6 8 4 2 1 Walls
Accounting 8 9 2 6 1 4 Walls
Admin 15 19 12 6 3 13 2 2 12 3
Project Dev 4 3 1 2 1 1 Walls 1
Info Tech 12 14 3 8 1 7 1
Facilities 4 2 4 1
Brem Tellers 2 1 1 1
HR 4+4 Metal 4 6 1 3 1 1 2
Training 3 7 2 2 2 12' counter
Brem FSR's 5 7 3 1 1 4 6 Horse Shoe
Audie/Comp Sec 3 5 1 1 1 1 1
TOTAL 70 79 32 12 11 37 10 10 31 7
Board Library 1 Built-Ins
Boardroom Wasn't available for viewing
Artic Room Wasn't available for viewing
Admin Waiting Area Included in Admin Count
Admin Copy Area Included in Admin Count Built-Ins
Lunchroom 5
KEY =
BBF = BOX/BOX/FILE
FF = FILE/FILE
LF = LATERAL FILE
BCC=BOOKCASECOVERED
BCFS = BOOKCASE FULL SIZE
BCO/W = BOOKCASE OPEN NOT FULL SIZE OR WALL MOUNTED
CRED = CREDENZA
CWD = CABINET W/DOOR(S)
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