HomeMy WebLinkAbout200609130310
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After recording return to:
City of Bremerton
345 6th Street, Suite 600
Bremerton, WA 98337-1873
"111I11 111I1111111111
TRANSNATION TITLE INS CO DEED $33.GG
200609130310
Page: 1 of 2
G9!13!2GG6 G3:37P
Kitsap Co, WA
Reference: 20248360- -101- -KAB
STATUTORY WARRANTY DEED
THE GRANTOR(S) Housing Authority of the City of Bremerton, a Washington corporation,
for and in consideration of Ten ($10.00) Dollars and other good and valuable consideration
in hand paid, conveys and warrants to City of Bremerton
the following described real estate, situated in the County of Kitsap, State of Washington:
See Exhibit A attached hereto and made a part hereof.
Subject to: Those items specifically sel-forth on Exhibit "A" attached hereto.
Abbreviated Legal: LOTS 1 THROUGH 7, INCLUSIVE, RE-PLAT OF LOUIS L. LOO'S
ADDITION TO BREMERTON
5 ~7h? ()OO 00 3'-CO0:3
Tax Parcel Number(s): 3768-000-00 (- 000 / J, - - , 'P>r'1,/
- . g _ ()OO - 00 t{ -CJ CO d- 3 7& g'- 000"05 _()vv
Dated: September 7. 2006 :3 7 &1 ' -/ '
SELLER: '?:>7 b8-ootJ- cJtJft7 - 0000
HO~~"toc
KITSAP ,COUNTY TREASURER EXCISE
2006EX08301
09/13/200q
Initial
---- --------
Total : $5790.00
Clerk's
State of Washinqton
~ SS:
County of -1\ If'.SA.P
On this ~ day of Swun SeR. ,1.00" , before me the undersigned, a Notary
Public in and for the State of Washinqton, duly appointed and sworn personally appeared
]':)Auld g ,,(!.If tome known to be the
~r'V\ U<.f.~IU'\uc. 'l::>tIl of ..,.~e.. ""Rl2.etne R..lDt-.J #-l-u.LS!.1~6 PtlJ.::Iri'Of2.rr'l the
corporation that executed the foregoing instrument and acknowledged the said instrument to be
the free and voiuntary act and deed of said corporation, for the uses and purposes therein
mentioned and on oath stated that h~. Is authorized to execute the said
instrument and that the seal affixed (if any) is the corporate seal of said corporation.
Given under my hand and official seal the day and year last above written'\'\"'~'N'''D''':;III,
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Not?ry Public in and for the State of ( }....)Mt--I I~ 'fOr:J ~ .: AUG 3p. 2009 :Z~
Residing .at i<U ~~~. ~ tA}B...... " '.. " ~<P e.',,, '~,: 0:
My AppOintment expires. g 3tl Dtt ~~ ..Puu\..\l:> .. r'::j
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Statutory Warranty Deed """" tPB-1O-05 (1/06)
TRANSNATION TITLE INSURANCE COMPANY
Exhibit A
LOTS 1 THROUGH 7, INCLUSIVE, OF THE RE-PLAT OF LOUIS L. LOO'S ADDITION TO BREMERTON,
AS RECORDED IN VOLUME 2 OF THE BOOK OF PLATS, PAGE 68, RECORDS OF KITSAP COUNTY,
WASHINGTON, SITUATE IN THE NORTHEAST QUARTER OF THE SOUTHEAST QUARTER, SECTION
14, TOWNSHIP 24 NORTH, RANGE 1 EAST, W.M., IN KITSAP COUNTY, WASHINGTON;
TOGETHER WITH THE VACATED ALLEY BETWEEN LOTS 4 AND 40, PER CITY OF BREMERTON
ORDINANCE #533, DATED APRIL, 1916;
SITUATE IN THE CITY OF BREMERTON, COUNTY OF KITSAP, STATE OF WASHINGTON.
LOCAL IMPROVEMENT ASSESSMENTS, IF ANY, LEVIED BY THE CITY OF BREMERTON.
UNRECORDED LEASEHOLDS, IF ANY; RIGHTS OF VENDORS AND HOLDERS OF SECURITY
INTERESTS ON PERSONAL PROPERTY INSTALLED UPON THE LAND; AND RIGHTS OF
TENANTS TO REMOVE TRADE FIXTURES AT THE EXPIRATION OF THE TERM.
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1. D FHA
4. D VA
6. ESCROW FILE NUMBER:
20248360-101 KAB
8. MORTGAGE INSURANCE CASE NUMBER:
2. D
5. D
FMHA
CONV. INS.
OMB No. 2502-0265
3. D CONV. UNINS.
A. U.S. DEPARTMENT OF HOUSING AND URBAN DEVELOPMENT
SETTLEMENT STATEMENT
Transnation Title Insurance Company
9619 Levin Road, NW
Silverdale, WA 98383
B. TYPE OF LOAN
7. LOAN NUMBER:
FINAL
C. NOTE: This form is furnished to give you a statement of actual settlement costs. Amounts paid to and by the settlement agent are shown.
Items marked "(P. O. C.)" were paid outside the closing; they are shown here for informational purposes and are not included in the totals.
D. NAME OF BORROWER:
City of Bremerton
ADDRESS OF BORROWER:
345 6th Street, Suite 600
Bremerton, WA 98337-1873
Housing Authority of the City of Bremerton
E. NAME OF SELLER:
345 6th Street #200, PO Box 4640
Bremertol1, WA 98312
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ADDRESS OF SELLER:
F. NAME OF LENDER:
ADDRESS OF LENDER:
G. PROPERTY LOCATION: 8078th Street
Bremerton, WA 98310
Kitsap 3768-000-00
LOTS 1 THROUGH 7, INCLUSIVE, RE-PLAT OF LOUIS L. LOO'S ADDITION TO BREMERTON
H. SETTLEMENT AGENT: Transnation Title Insurance Company
PLACE OF SETTLEMENT: 9619 Levin Road, NW, Silverdale, WA 98383
I. SETTLEMENT DATE: 09/13/2006 PRORATION DATE: 09/13/2006 FUNDING DATE 09/13/2006
J. SUMMARY OF BORROWER'S TRANSACTION K. SUMMARY OF SELLER'S TRANSACTION
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101. Contract Sales Price 325,000.00 401. Contract Sales Price
102. Personal Property 402. Personal Property
103. Settlement charges to Borrower (line 1400) 496.55 403.
104. Payoff to 404.
105. 405.
Adjustments For Items Paid By Seller In Advance: Adjustments For Items Paid By Seller In Advance:
106. CitylTown Taxes 406. CitylTown Taxes
107. County Taxes 407. County Taxes
108. Assessments -+ 408. Assessments
109. 409.
,
110. 410.
111. 411.
112. 412.
113. 413.
114. 414.
115. 415.
120. Gross Amount Due from borrower: 420. Gross Amount Due to Seller
501. Excess deposit (see instructions)
502. Settlement charges to Seller (line 1400)
; 503. Existing loan(s) taken subject to
""
320,496.55 504. Payoff of first mortgage loan
505. Payoff of second mortgage loan
506. Seller Deposit
507.
508.
509.
Adjustments For Items Unpaid By Seller:
510. CitylTown Taxes
511. County Taxes
512. Assessments
513.
514.
515.
516.
517.
518.
519.
520. Total Reductions In Amount Due Seller
t.$~ftlefu~r1tJ!olfrQIJl:~'~IJ~r:;,
..~~ ~;i~a~~~~~~~e b~~f:r ~:;r~:~r~:~: ~~~)~~~~ ;;;:::~:~-+- :~~: ~;::~:d:~~:~~~~::~:~~~~;~:~~r~II~1
303.~as~~ROMBO-rrower:-----==-_-=:~~=~==-L~=~=--o.00~I~~~. Cash !~ Seller: .~ i
201. Deposit or earnest money
-----~~-
202.
203. Existing loan(s) taken subject to
~~~~~---~---_._~---~
204. wire from buyer
205.
206.
207.
208.
209.
7,038.90
Adjustments For Items Unpaid By Seller:
210. CitylTown Taxes
211. County Taxes
212. Assessments
213.
214.
215.
216.
217.
218.
219.
220. Total Paid By/For Borrower
7,038.90
Hudc.rpt (09/16/2002)
Printed by Rene Allyn on 09114/2006 at 03:35:31 PM
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Paid from
Borrower's
Funds at
Settlement
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Paid from
Seller's
Funds at
Settlement
Based on Price $325,000.00 @ % =
Division of Commission (line 700) follows:
701. $ to
702. $ to
$ to
703. Commission paid at settlement
704.
li~.g.Q.;,;DIIQi!l!f:?~y~~l!nm~()n'I1~~!r9I1iii~i!nW~9~'I1':f:!I!~rilrr~~,::' #%l.~!II:ill!III'!!.!I' I
801. Loan Origination Fee
802. Loan Discount Fee
803. Appraisal Fee
804. Credit Report
805. Lenders inspection Fee
806. Mortgage Insurance Application Fee
807. Assumption Fee
----------
;808.
809.
810.
811.
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-'_'__'''<'_'' ":;VH,. :hW <0'&&( ':~mill.iti;i:;C
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901. Interest
902. Mortgage Insurance Premium
903. Hazard Insurance Premium
904.
905.
~QQQI;:jf{~~~.tXi~~~~p()~rt~ql~IIfir~JiJl~~'~;11.,il,1!.iil!j~ll!~lf.llliJ~illiji::':!:I!I.!~'I!f:::i'I:Wili@.;I..:lll!IP
1001. Hazard Insurance
1002. Mortgage Insurance
1003. City Property Taxes
1004. County Property Taxes
1005. Annual Assessments
1006.
1007.
1008. Aggregate Adjustment months @$
~.t1]Q9:1;:m[fl~l'~Q~:~g~~~:~jji\I'tj. H:':sll;:}:\!jt~l:::i!]::;Il~.Jl:::!"i': !ill....r.:.~f. "';lilf~@;j,.,.i
1101. Settlement or closing fee to Transnation Title Insurance Company
1102. Abstract or title search
1103. Title examination
1104. Title insurance binder
1105. Document preparation
1106. Notary Fees
1107. Attorney's Fees
(includes above item numbers: )
1108. Title Insurance
(includes above item numbers: )
1109. Lender's coverage $
1110. Owner's coverage $ 325,000.00
1111.
1112.
1113. **See attached for breakdown
~:~9f:9ml'gg~~r5ffi~hii~~~~t~.!]U9~!i'i~~~Ii'i'~f~r'::[h!ifg~!:i'l
1201. Recording Fees: Deed$ 35.00 Mortgage $
1202. City/County tax/stamps
1203. State tax/stamps
1204. City Transfer Tax
1205. County Transfer Tax to Kitsap County Treasurer
1206. excise technology fee to Kitsap County Treasurer
1207.
425.00
725.00
98.90
oo"",mimlO::;;N ....:tmi::I!it_~]i:ii: ::i;:(g!!~l.t!ji ;:..."~ii':
Release $
5,785.00
5.00
1301. Survey to
1302. Pest Inspection
1303.
1304.
---
1305.
1306.
1307.
1400. Total Settlement Charges (Enter on line 1 03,Section J -and- line 502, Section K)
496.55
7,038.90
Hudc.rpt (09/16/2002)
Printed by Rene Allyn on 09/14/2006 at 03:35:31 PM
. .
Attachments:
Escrow Number:
OMS No. 2502-0265
20248360-101 KAB
Buyer Seller
I Description Amount Amount
I
1114. Escrow Sales Tax to Transnation Title Insurance Company 36.55 36.55
1115. Title Sales Tax to Transnation Title Insurance Company 62.35
I Total as shown on HUD Page 2 Line #1113. 36.55 98.90
Hudc.rpt (09/16/2002)
Printed by Rene Allyn on 09/14/2006 at 03:35:31 PM
REAL ESTATE PURCHASE AND SALE AGREEMENT
WITH EARNEST MONEY PROVISION
(Municipal Court - 8th & Park)
This Agreement is entered between the CITY OF BREMERTON, a Washington municipal
corporation ("Buyer"), and the BREMERTON HOUSING AUTHORITY, a Washington
municipal corporation ("Seller"), for the sale and purchase of real property as follows:
1. PROPERTY. The property, which Buyer agrees to buy and Seller agrees to sell, is
commonly known to be located at 807 8th Street, Bremerton, Washington (the "Property"), and
which Property is legally described in Exhibit A, attached hereto and incorporated herein by this
reference. A map indicating the location ofthe Property is also attached as Exhibit B, incorporated
herein by this reference. Buyer agrees to buy the property and assume title to the same in its current
condition with the structures situated thereon.
2. EARNEST MONEY. Received from Buyer, Five Thousand and Noll 00 Dollars
($5,000.00), as earnest money and part payment on the purchase price for the Property.
3. PURCHASE PRICE. The total purchase price for the Property is Three Hundred
Twenty-Five Thousand and Noll 00 Dollars ($325,000.00), including earnest money, payable on
closing.
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) A Feasibility Study as follows:
(1) Buyer shall have four (4) 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.
(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 I environmental assessment generally will consist of a
review of title of ownership and land use, review of geologic and
hydrologic maps ofthe area, review of federal and state databases for
known hazardous water generators or contaminated sites and a site
visit. If the Phase I review reveals the potential of a contaminated
site, a Phase II environmental assessment may be conducted which
REAL ESTATE PURCHASE AND SALE AGREEMENT
Page 1 of5
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 including a Phase L
and if necessary, a Phase II environmental assessment. Seller will be
notified if a Phase II environmental assessment is to be conducted.
(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
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 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 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 less
any expenses that have been incurred with third parties in anticipation of closing.
5. 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 6 below.
6. TITLE INSURANCE. At Closing, Seller shall cause Transnation Title
Insurance Company, whose address and telephone number is 9619 Levin Road NW Silverdale,
Washington 98383, (360 692-4556), to issue a standard form owner's policy of title insurance to
Buyer in an amount equal to the total purchase price of the Property. The cost of this policy 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. 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.
7. 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. Seller shall pay for excise tax and revenue stamps. Taxes for the current year, water,
REAL ESTATE PURCHASE AND SALE AGREEMENT
Page 2 of5
sewer and other utility charges, if any, shall be pro-rated as of date of closing unless otherwise
agreed.
8. FIRPT A- TAX WITHHOLDING AND CLOSING. The closing agent is instructed
to prepare a certificate that Seller is not a "Foreign Person" within the meaning of the Foreign
Investment in Real Property Tax Act. Seller agrees to sign this certificate.
9. CLOSING OF THE SALE. With the understanding that time is of the essencefor
this agreement, this sale shall be closed within thirty (30) days of acceptance or waiver of the
contingencies set forth in Section 4, 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 Insurance Company
all instruments and monies required to complete the transaction in accordance with this agreement.
Closing, for the purpose ofthis 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 on closing.
11. SELLER'S REPRESENTATIONS. Seller represents:
(a) it will maintain the property in present or better condition until time of agreed
posseSSIOn,
(b) it has no knowledge or notice from any governmental agency of any violation
of laws relating to the subject property.
(c) the property is not encumbered by any leases, however, at least one of the
residential structures currently has a tenant and that Seller will cause this and
any other structures on the property to be vacated prior to closing.
12. SELLER'S ENVIRONMENTAL REPRESENTATIONS. Sellerrepresents that it
has not caused or allowed to be caused, any environmental condition (including, without limitation,
any spills, discharges or contamination) during its ownership ofthe subject property; however, based
on information or belief, Seller discloses that the structures situate upon the subject property, more
probably than not, contain asbestos or asbestos products, and are, or have been, served by
underground storage tanks for household heating oil. Buyer accepts such conditions pursuant to
paragraph 1. Seller further represents that applications have been made for remedial clean-up ofthe
subject property and that it will work with and assist Buyer in receiving the same as applicable to
remediate any contamination on the property.
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) Default. If Buyer or Seller defaults hereunder, the other party shall have all
the rights and remedies available at law or in equity.
REAL ESTATE PURCHASE AND SALE AGREEMENT
Page 3 of5
(b) Attorney's Fees and Costs. In the event oflitigation to enforce any ofthe
terms or provisions herein, the substantially prevailing party's attorney's fees shall be paid by the
other party to this agreement.
14. NOTICE TO SELLER. This form contains provisions for an agreement for the
purchase and sale of real estate. Buyer makes no warranty or representation of any kind that this
form, or any of its provisions, is intended to meet the factual and legal requirements of a particular
transaction, or that it accurately reflects that laws of the State of Washington at the time you enter the
agreement. This agreement has significant legal and financial consequences. By signing this
agreement, Seller acknowledges that Seller has or has had the opportunity to consult with an attorney
regarding Sellers rights and obligations in this agreement.
15. BROKERS FEES/COMMISSIONS. Seller agrees to indemnify, defend and hold
harmless Buyer with respect to any claim by any person or entity claiming through Seller to be
entitled to a commission with respect to the transaction contemplated by this agreement.
16. 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.
17. 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 98337-1873
(b) All notices to be given to Seller shall be addressed as follows:
Executive Director
Bremerton Housing Authority
345 6th Street #200
PO Box 4640
Bremerton, Washington 98312
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.
REAL ESTATE PURCHASE AND SALE AGREEMENT
Page 4 of5
18. ENTIRE AGREEMENT. This agreement, including all incorporated exhibits,
constitutes the full understanding between seller and buyer. There have been no verbal or other
a!,Tfeements that modify this agreement.
19. BINDING EFFECT AND SURVIVAL. This Agreement shall be binding upon
parties hereto and their respective heirs, successors and assigns.
20. 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:
THE CITY OF BRE/L
BY:~
Cary Bozeman, Mayor
Dated: --St..-h-LR.,. )...'DO~
BREMERTON HOUSING AUTHORITY
./
By: ~~j~
Its: 1"'-rEdlA-. cYGctJr;l/6 tj.)7J!L;c:n.~
Dated J~ f$: ~
APPROVED AS TO FORM:
~a
B Ro r A. Lubovich, Ci~2y
-- ----...
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P:\Civil\Fies\Current Active Files\Municipal Court Development\REPSA-BHA.doc
REAL EST A TE PURCHASE AND SALE AGREEMENT
Page 5 of5
EXHIBIT A
Lots 1 through 7, inclusive, of the Re-P1at of Louis L. Loos' Addition to Bremerton, as recorded
in Volume 2 of the book of plats, Page 62, records of Kit sap County, Washington, situate in the
northeast quarter of the southeast quarter, Section 14, Township 24 North, Range 1 East, W.M.,
Kitsap County Washington.
Together with the vacated alley between lots 4 and 40, per City of Bremerton Ordinance #533
dated Apri11916.
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