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Home My WebLink About9511220181 KiTSAP ~OUNT¥ Filed for Record at Request of: FILED-8¥': SRENERTON CITY OF KAREN FLYNN, AUDITOR CLEI~: MILLER When Recorded Return to: Name Bremerton City Clerk ~ O~9~5 ER 0167 Address 239 Fourth Street . Bremerton, Washinqton 98310 1~2~ Bayview Orive - St~kton STATUTORY WARI~LWTY D~.~.D (For Use in the State of Washington Only) THE GRANTORS, JAMES J. STOCKTON and VIOLA L. STOCKTON, husband and wife, for and in consideration of good and valuable consideration, convey and warrant to the CITY OF BREMERTON, a municipal corporation, the following described real estate, situated in the County of Kitsap, State of Washington: LOT 33 AND THE SOUTH 20 FEET OF LOT 34, BLOCK 18, NAVY YARD CITY, ACCORDING TO PLAT THEREOF RECORDED IN VOLUME 3 OF PLATS, PAGE 75 , RECORDS OF KITSAP COUNTY, WASHINGTON. *RANSACTION £XCI8~ TAX 'AID NOV 2~- ~ UAMES J.~T~SCKTON VIOLA L. STOCKTON STATE OF WASHINGTON) : SS. COUNTY OF KITSAP ) On this date, before me, the undersigned, a Notary Public in and for the State of Washington, duly commissioned and sworn, personally appeared JAMES J. STOCKTON and VIOLA L. STOCKTON, STATUTORY WARRANTY DEED --1-- STOCKTON,$WD - West Ni[[s Closings - 11/3/95 husband and wife, to me known to be the individuals described in and who executed the within and foregoing instrument, and acknowledged that they signed the same as their free and voluntary act and deed, for the uses and purposes therein mentioned. GIyE.N under m~y hand and official seal this ~'/~ /~--~ , 1995. -- ,N~ary ~b_llc in and My appoin~ent expires: A. F. I~: '/Si,J.'m22028! larr~ II::)~.B~ FR STATUTORY WARRANTY DEED -2- STOCKTON.SWO - West HilLs Closings - 11/3/95 REAL ESTA~ PUR(]~%SI~ ~ SAI.R AGRBig(E~T Improved Property THIS CONTRACT CONTROLS THE TERMS OF THE SALE OF THE PROPERTY. READ CAREFULLY BEFORE SIGNING. THE CITY OF BREMERTON, a Washington municipal corporation, (hereinafter called "Purchaser") hereby agrees to purchase and the undersigned Sellers hereby agree to sell the following described real estate located in the City of Bremerton, County of Kitsap, commonly known as 1322 BAYVIEW ~Ri"4E. ~N. WASHINGTON , and legally described as follows: TAX ID NO: 4600-018-033-0009 NAVY YARD CITY, BLK 018 LOT 33 BLK 018 BLK LOT 34 S 20 FT 1. PURCHASE PRICE: The total purchase price is SBV~/TY Dollars (S70.O00.O0). 2. CONDITION OF TITLE: The title is robe free of all encumbrances or defects except: Rights reserved in federal patents or state deeds, building or use restrictions general to the area, existing easements not inconsistent with Purchaser's intended use, and building or zoning regulations or provisions shall not be deemed encumbrances or defects. Encumbrances to be discharged by Sellers may be paid out of purchase money at date of closing. 3 Sellers shall furnish to Purchaser a Washington Land Title Association Standard Form Owner's or Purchaser's Policy of Title Insurance in the amount of the purchase price. Sellers authorize the city Attorney to apply as soon as practical for such title insurance, and as soon as reasonably possible, Purchaser shall be furnished a preliminary commitment therefor issued by Land Title Company. (The Sellers shall assume any cancellation fee of such commitment or policy.) The title policy to be issued shall contain no exceptions other than those provided in said standard form plus encumbrances or defects noted in paragraph 1 above. If title is not so insurable as above provided and cannot be made so insurable by the termination date set forth herein, this agreement shall terminate; provided, however, that Purchaser may waive defects in writing and elect to purchase. 4. DEFAULT: If either party defaults (that is, fails to perform the acts required of that party) in that party's contractual performance herein, the non-defaulting party may seek specific performance pursuant to the terms of this agreement, damages, or rescission. Taxes for the current year, rents, insurance, interest, water and other utilities constituting liens shall be prorated as of date of closing. Purchaser shall pay for remaining oil in fuel tank, the amount to be determined by the supplier. 6. pQSSESSION: ~ Sellers shall de%iver possession to Purchaser on closing, or ~/ day,after closing. Sellers agree to pay Purchaser the sum of $ ~///~-~ for each day of. possession beyond date of closing. Posses~i/on shall be deemed given when Sellers have vacated the premises and delivered the keys to same to Purchaser or to closing agent. Said payment shall be the sole responsibility of Sellers. 7. CONDITION OF PROPERTY: Purchaser offers to purchase the property in its present conditions on the terms noted. Sellers hereby warrant that to the best of their knowledge the premises described herein and the improvements thereon do not violate the applicable building or zoning regulations and that they are unaware of any material defect in the premises or improvements thereon with the exception of the following, to-wit: None. 8. TIME FOR ACCEPTANCE: Purchaser's offer is made subject to acceptance of Sellers on or before Twelve o'clock midnight on 9. TIME FOR CLOSING - RESPONSIBILITIES OF PARTIES: The sale shall be closed in the office of the Bremerton City Attorney within 45 days after preliminary commitment for title policy is delivered showing title i~rable, as ~b~v~. provided, but in event not later than the /C day of ~/C~ , 19 ~% , upon which date the agreement shall terminate. The Purchaser and Sellers shall deposit with the Bremerton city REAL ESTATE PURCHASE AND SA~.R AGREEMENT -2- ~PSA.A6T - A~eat For~s - Attorney all instruments, documents and monies necessary to complete the sale in accordance with this agreement. 10. CLOSING COSTS AND PRORATIONS: The Sellers agree to pay for the costs of clearing the Sellers' title to the sale property, including any delinquent property taxes, the owner's standard title insurance policy, and any real estate excise tax related to the sale property. Real estate taxes for the year of closing, and utilities constituting liens against the property, shall be prorated as of closing. Any assessments shall be paid by the respective Sellers. 12. DATE OF CLOSING: For purposes of this agreement, "date of closing" shall be construed as the date upon which all appropriate documents are recorded and proceeds of this sale are available for disbursement to Sellers. Funds held in reserve accounts pursuant to escrow instructions shall be deemed, for purposes of this definition, as available for disbursement to Sellers. 12. RISK OF LOSS: If prior to closing, improvements on said premises shall be destroyed or materially damaged by fire or other casualty, this agreement at option of Purchaser shall become null and void. If Purchaser elects to continue, all insurance proceeds, if any, shall be payable to Purchaser. 13. PERSONAL PROPERTY: All attached floor covering, attached television antenna, window screens,screen doors, storm windows, storm doors, plumbing and lighting fixtures (except floor, standing, and swag lamps), shades and venetian blinds, curtain rods, attached bathroom fixtures, awnings, ventilating, cooling and heating systems including build in and "drop in" ranges (but exceeding all other ranges) and all other fixtures that are now on the premises shall be included in the sale unless otherwise provided herein. 14. 'S : If either party hereto is required to retain an attorney to bring suit or seek arbitration to enforce any provisions of this agreement, said party shall be entitled to reasonable attorney's fees regardless of whether the matter proceeds to judgment or is resolved by defaulting party curing default. 15. ~LT~: There are no other verbal or other agreements which modify or affect this agreement. Time is of the REAL E~A~ PIIR~E ~ SALE AG~KK~8~I~ -3- ~SA.AG~ - Agar.eat Foils - 3/15/95 essence of this agreement. Ail subsequent modifications or waivers of any condition of this agreement shall be in writing and signed by the appropriate parties. Date LY~ HoRTON, Mayor PURCHASER DEPAR~MENTAL~ W. EUGENE SA~PLE~/, Dire~ Public Works & Utilities IAN R. SIE~, City Attorney Purchaser's Address: Bremerton City Hall Attention: Kathleen L. McCluskey, Clerk 239 Fourth Street Bremerton, WA 98337 P~rchaser's Phone: (360) 478-5290 On this date ~.~ L /~ , we hereby approve and accept the sale set forth in the a~ve agreement and agree to carry out all the te~s thereof on the part of the Sellers. Seller~' Address: Sellers' Phone: ~ E~A~ ~E ~ S~E A~R~ -4- A true copy of t e ing agreement, 19 ~ hereby received on . · V Bremerton City Attorney/ Agent for Purchaser RECEIVED FOR FILING: ~.~E~. ~.. MccLusK~Y; ~m cL~ REAL ESTATE PURCHASE AND SALE AG~KK~T --5-- ~.sa.a~ - z~jre~t ~oms - )/z5/95 COMPLETE APPRAISAL ANALYSIS-SUMMARY APPRAISAL REPORT ~l~erty Description UNIFORM RESIDENTIAL APPRAISAL REPORT File No. bh340 Pr0perqAddress 1322 Bayview Drive Cl~ Bremerton sm~ WA Z~pC0de 98312 Le{laiDescriptlan See Attached CounW Kitsao A~sessor'sParcmNo. 46000-018-033-009 T~Year 1995 R.E.l~s $ 602.45 S~cl~sessmen~ $ ~rm~r ~ CurmntOwner ~.m.. ~oc~ton Occup~ ~ Owner ~ Tenant ~ Vacant Pmpi rlp pr s d I ILSuaflOId ProJect~TIPUD I ICondommmm(HUO~aon~)HO~ ~o. Nelgh~rfl~d or Proper N~e M~ Reference Q- 27 Cens~ Tract 810. O0 Appraiser Schaefer Sinne~t Hernandez ~dress P.0. Bo~ 2257. Bremerton. WA 98310 ~ Not U~ly ~ Ukely Gm~ Ram R~i~ S~le Siow ~ Owner 40 ~w O 2-4 fmily 4 Q In process Pmm~values Incmulno S~Ie Declining ~Tefl~t lO0 High 70 MulU-family 4 To: Deman~supply ~ S~mOe ~ln~uc8 ~ ~ersupp~ ~Va~t(~5%) ~Predomln~t~ CommerelM 1 Mar~tln~Ume I I Un~r3m~'~13*6m~' ~ I Over6m~. I IV~ti..fs~} 7F 5~ ~aeant Neighborh~d~un~ries~dc~ra~rlstlcs: Subject is ho~.ded by ~ 3 ~o the last and South. Namer Coed to the North and Polnde~er IvAntl~ to the West. Sub,eot is located in an established West Bremerton neighborhood. PSNS. areas largest emoloyer i~ located in donto~ Br-m-~ton a~roxtmtely 1.5 miles East. Suo~ort facilities are within walkin~ distance. Bremerton Seattle ferry ~kes su~ort facilities of the Seittle me, re area also ay-il-bls to ~he subject prooerty. Freeway access is close and convenient. See additional Market conditions are co-~{aered averaee in subiect's neighborhood. Listings ara ex~eriencin~ a mrketin8 time of i~or~-i--telv 90 days oer ~S statistics. Int,rast rates have recently risen, but historically remin attractive. Silltr concessions and creative financin~ is not rebutted to sell bnm-~ in Kttsa~ County date of Pml~t Ilw601 for PUOl (If ~pli~e) -- Is ~e d~elo~rJuilder In ~tml ~ ~ Home O~ers' ~aoclaU~ (HOA)? ~ Yes ~ N0 Dimensions 50~z98.81CS~50~98.81ES To~gr~hy ~oGt~ S~c[flc ~ning cl=slfIca~n and descripti0n R-5~ Sh~ Rectangular. Zon&ng~mpllance ~ ~g~ ~ Leo~non~nfo~lno (G=nd~ma~u=) ~ Illegal ~ No.Lng Ormnage Aooear; Adequate Hiphest&bestuseuimp~ed: ~Presentuse ~ O~eruse(~an) View None Wamr Slde~k None FEMA S~da[ Fl~d H~rd Area ~ Yes ~ No Storm se~r I~Iey Ho~e FEMA M~ No. 530092 0315 served by oublic water and sewer syst-m~. Site is located within blocks of a sewer treatment Dl~% G~eatinm some ~ternal denr-~-~ion. See additional co~ No, of Unl~ 1 ~un~n Concrete block Sl~ Yes ~aSq. Ft. 836 R~f N0. ~ S~des I, ~ ~mrior Wale Wood Cm~ S~e None ~ Finished 0 Ceiling AV~, Ty~(DsL/A~) De=ached R~fSud~ Composition ~ement ff~[l ~eglng D~a[[ Wgls ~isUn~mposed ~ ~n~wTy~ S~ O~p~ss ~ Flor None ~e(Yrs.) 51 Sto~cmens None ~ement None No~e~ Ou~ldeEnt~ ~aB Unkn0~ Effec~e A~e (Yrs.} 25 [M=~acwm~ House N/A I~sa~on None aote~ ROOMS/ F~er I Uving I Olning I KNaen [ Den IFamliyRm. lRec. Rm. Imdr.msl t~ms ~nd, I O~er [ AmaSq. Ft. ~ement [ area~ 836 KITCHEN EQUIP. A~lC None Addltl0na features (sm~al enerw efficient I~ms. etc.): Subject ameoities include a large ma;on~ fireplace, paddle fan. built in i~onin~ board. ~roat and rear concrete porches. Sub~ect vas constructed in 1944. and is in average condition. Fully functional floor olan. ~are is ~me an external deoreciatiofl, due to sever treatment plant. ~eco~end moss to be removed from ~oof. See additional co,ants... Immedla~ vlclfll~ 01 the sublect pm~.: ~e locm~ion ~rea~ment DlaR~ could be an adverse environmental condizion~ No other aooarent conditions noted date of aooraisel. COMPLETE APPRAISAL ANALYSIS-SUMMARY APPRAISAL REPORT Case #: Valuation Section UNIFORM RESIDENTIAL APPRAISAL REPORT File No. ESTIMATED SITE VALUE ................................... =$ 12.000 Comments on Cost Approach (such as, source of cost estimatE, ESTIMATED REPRODUCTION COST-NEW-OF IMPROVEMENTS: site value, square foot calcuteUon, and for HUD, VA and FmHA, the Dwelling 1.162 Sq. FtO$ 55.00 =$ 63.910 estimated remaining economic life of the properly): Basement 836 Sq. FtO$ 20.00 - 16.7~0 & Swift Cost Aooroach Guide was used in AoDliancea. FDa. oorches 5.100 arrivins at cost aPProach fiaurea. Garage/Cavort __ Sq. Ft ~S Sub tect'a estimated site value was TotaiEstimatehCastNew . . . =$ 85.7~0 derived from bare lend sales in sub{act's Less 25.0% Physical FoncConal 15%ExtErnal immediate market area with similar aooeal DspranlaUon 21.43~ I 9.645 -$ 31.078 & utility. -- Depreciated Value of Improvements ........................ - $ 54.652 'As4s' Value of SIts Improvements ......................... - $ 6. O00 INDICATED VALUE aY COlT APRROACH (72. 700) -$ 72, §,~:~ iTEM I SUBJECT i COMPARABLE NO. 1 COMPARABLE NO. 2 COMPARABLE NO. 3 1322 Bayview Drive [3611 F St. 3640 E. St. 5468 Sherman Hts. Rd. Address PrommltytoSubJant ~!~'~' .5 miles NE. .5 miles NE. .5 miles aW. SalssPrlue I$ ~~$ 78.500 ~]$ 70.000 ~.~.~ $ 71.500 Ptics/GmcaUv. Ams i$ ~15 77.57 ~~ 73.07 ~~ 89.38 Datsand~r Inspection Aud #9504280104 Aud ~9503170017 Aud #9507200250 VALUEADJUSTMENTS / DESCRIPTION ~ DESCRIPTION +(-)$~djuthmm DESCRIPTION +(-)$NJjusimmnt DESCRIPTION Sales or Financing ~~ FH~ : VA i Convent iontsl i Dm of saternms ~~ 4/95 i 3/95 [ 7/93 LocaUon IAveraae- IAvaraee i ~11.775 Average ! -10.500 Averaae ! -10.725 Leasehold/Fee$1mti~ I~'ee Simple I Fee Simele ! Ewe Simple i Eeo Simple mte I . 12ac I . 15ac i .15ac i .25ac View I None I None i None i None Daslgn~, ~tias, I 1.5 I 1.0bsatt i 1. Ob stat i 1, ~ Olimtiy of ConstrucUon ] Averase ] averaae ! Averaae ] Averal~Q Condition {Averaa, l Averaae i Averaa, i Averaae Above Grade Total i B~ml i oaths Total i ~ml i Oaths i Total i Balms i Oaths ~ Totai i B~ml ] Oaths Room Count ..... 5 I 2 I! i 5 12 !1 Gross Liviflg Area 11.z62 Sq, Ft. [1012 Sq. FL ! +3.000 958 Sq, FL i +4.100 800 Sq, Ft. i +7.200 Basamant&Fmlstisd 836 SE [696 SP i +1,260 504 $~ i +2,988 0 SE i +7.524 RoomsamowGr~e 0 SF[0 S~ fin ; 0 SE fin ! 0 S~ fin I Functional tithi~ I Averaee I Averaae i Averaae i Average Heating/Cooling IFAO FAO i FAG ! -1.000 EBB !, EuergyEffiniantltems INo $oecial Tnsul Windowl -1.500 No 8~ecial ! Tnsul Windowl -1.500 Garage/Carport INDue lC--! ! -1.500 G-2 ! -3.000 G-1 i -1.500 Porch Porch Porcti, Patio, Deck, i Porch,i Porch i +1,0OO Fireplace(si, etc. FP1 FPO ! +1. 000 FP1 ! FPO Fen., POOl, ets. I RO i ' Kitchen Ro : Lo Dw i -500 RD NetAIl.(thm) ~~r + x !S 9,515 + x' [S 7,912 x + -:S 1,999 of C0mpo~le $ 68.985 S 62.088 S 73.499 reaaoeable similarities to the sub~ect ie teas of a~eal, aaa and are located in comoetina neiahborhoods. The comuarable~ displayed resulted ad tustments for sub teet's external depreciation. ~e sales were adtuated 15~ of their sales ~rtoe for the subtect's deoreciation. ~e fiaure was derived from conversations with a~raisers, brokers and e~traction of older aales tn the mmediate nei ,_hborhood. See addttion~l ¢~mm.n~.~, ,, Snurce, for prmr salss NA NA NA NA Subtect has not been listed or sold within the last nee year. ~e above com~replel7 have not sold durina the year ~reviou~ to their sale date~, IDSICATE~ VALUE S¥ SAL~ S~MP#RISON APPROACH $ 70. 000 IDDIMTE~ VALUE S¥ INk,Ida APPROACH {If Applicable} E~Umated Market Rent $ /Mn. x Gmas Rent Multiplier . $ This appraisal Is made I~1 'as is' I I subJant to the repairs, altemUons, ~nspe~0ns or ~ndltl~qs listed I~low L~ sutilant th ~mplsc0n per plans and speclflcati0ns, C0ndlUonsofAppralaal: Recommend electrical inaoection, recommend spl,~ blocks to be inst~]led. Recommend moss to be removed from roof. No other rec-m~--d-tions date of aouratsal. (WHICH IS THE DATE OF INAPECTI0~ AND THE~IVE DATE OF THIS REPOR~ TO BE $ 70.000 APPRNSER: ~ / Signature ' ~'~c~-~- ~["~"'~ -~ Slgnste. [] Did [] Olti Not Name Barry ~erna~ez' ~ I Name Inspect Property Date Report Signed 9-27-95 "--' Date Report Sighed Stats Certification ~ HE - RN - AB - R370 K3 Slate WA state Certification # State ........ File No. bh340 .................................................. ~"~:~:~ ~ ~:~:~.~:~:~'~: Borro~r Prope~Mdr~ 1322 ~ayv~e~ D~ve Ci9 ~eme~to~ C0un~ Kt~sap ~te NA Zip Code 98312 Lender ~im NEIGHBORHOOD MARKETABILITY s~oppta8 ce~e~. SubJee~ t~ ~i~uated app~oztma~eZy ~o bZoe~ No~ o~ a ~evase ~eatmeat p/aat. ~e se~ec plaa~ does e~e~e some e~e~al ~ep~eeie~ion a~d ~ould e~ec~ the ove~alZ m~e~abi11~? o~ t~e subject SITE CONDITION OF IMPROVEMENT8 SubJqc~ t~ ~e~ved by mo=e ~baa COMMENT~ON SALES COMPARISON A ~aaSe o~ 10-20 pegcea~ ~m~ ~evelope~ pe~ce~t ~as i~eo~po~a~ed t~to comp~bZe~ vL~ alinement a~c~itectucal desig~ ~as u~avoidable. ~pie8Z adjustme~t~ ~e~e mm~e ~o~ dt~e~e~ee~ t~ 8~o8s P.O. Box 2257 Bremerton, WA 98310 (206) 613-5528 Tax ID: Client: Jim Stockton 1322 Bayview Drive Bzemerl:on, WA 98312 A~=ention: Hr J~e~ Stockton APPRAISAL FEE FOR SERVICES RENDERED $ 400.00 Borrower: NA 1322 Bayv£ew Drive Bremer~on, WA 98312 See Attached Please remit payment within 30 days. Total $ 400.00 LAND TITLE COMPANY TITLE TO: CITY ATTORNEY ~ -- OFFICE 239 FOUA"/~ [] Bremerton BREMERTON, WA 98312 [3~) 377-0133 Attention: JACKIE CRONK FAX: (3~) 377-1428 YOU~ ~O. = STOCKTON (800) 950-4321 ~r File ~o. = E-104872-1 ESCROW OFFICES Seller ~ Br~e~on ~ Po~ Orch=d Additioaal copies sent to= 13~) 87~0 ~ SilverdNe P.o. ~x 2737 TITLE/ESCROW OFFICE ~ Poulsbo [3~) 779-7172 FAX (3~) 779-1004 ~ Po~ Townsend COMMITMENT FOR TITLE INSURANCE CHICAGO TITLE INSURANCE COMPANY CHICAGO TITLE INSURANCE COMPANY, a Missouri corporation, herein called the Company, for a valuable consideration, hereby commits to issue its policy or policies of title insurance, as identified in Schedule A, in favor of the progosed Insured named in Schedule A, as owner or mortgagee of the estate or interest covered hereby in the land described or referred to in Schedula A, upon payment of the premiums and charges therefor; all subject to the provisions of Schedules A and B and to the Exclusions from Coverage (appearing herein) and to the Conditions and Stipulations hereof. This Commitment shall be effective only when the identity of the proposed Insured and the amount of the policy or policies committed for have been inserted in Schedule A hereof by the Company, either at the time of the issuance of this Commitment or by subsequent endorsement. This Commitment is preliminary to the issuance of such policy or policies of title insurance and all liability and obligations hereunder shall cease and terminate six months afar the effective date hereof or when the policy or policies committed for shall issue, whichever fn'st occurs, provided that the failure to issue such policy or policies is not the fanlt of the Company. In WJmes~ Whereof, CHICAGO TITLE INSURANCE COMPANY has caused this commitment to be signed and sealed as of the date of policy shown in Schedule A, the policy to become valid when countersigned by an authorized signatory. I~ued by: CHICAGO TITLE INSURANCE COMPANY LAND TITLE COMPANY By: OF IrdTSAP COUNTY, INC. Bremerton, Washington 98337 (3~) 377. 0133 .................. ................. LAND TITLE COMPANY TITLE TO.- CITY ATTORNEY OFFICE 239 FOURTH STREET BREMERTON, WA 98312 [] Bremerton 400 Warren Ave. Surte 1 O0 P.O. Box 313 Bremer~on, WA 98377 (360) 377-0133 Attention: JACKIE CRONK FAX: (360} 377-1428 Your No.: STOCKTON (800) 950-4321 Our File No.: E-104872-1 ESCROW OFFICES Seller Name: Buyer Name: [] Bremerton 400 Warren Ave. Suite 160 LAND TITLE COMPANY/~ KITSAP COUNTY ,.o. Boxs,~ /'~,~ emmerton, WA 98377 ,~o, sT.oos Od/._ FAX: ~36o~ 377-,e7, Ey.' .... A-"tCo-'i-'e;.... ~ ~ .~;i-'n:t:.r~' ' ' ' [] Port Orchard 2501 S.E, Mile Hill Drive Suite 101 P.O. Box 1489 [] Silverdale TITLE/ESCROW OFFICE [] Poulsbo [] Port Townsend ENDORSEMENT Attached to Commitment No. E-104872-1 Issued by LAND TITLE COMPANY OF KITSAP COUNTY Supplemental No.: 1 October 26, 1995 Your Reference No.: STOCKTON Seller Name: Buyer Name: This endorsement is made a part of said Commitment including any prior endorsements and is subject to the schedules, terms provisions and the conditions and stipulations therein, except as modified by the provisions hereof. 1. Schedule A of the above Commitment is hereby amended in the following particulars: {a) The effective date of the Commitment including extension is: October 9, 1995 at 8:00 a.m. (b) The title to the estate or interest in the land is at the extended effective date hereof vested in: NO CHANGE (C) The land referred to in the Commitment is described as follows: NO CHANGE 2. Schedule B of the above Commitment including any prior endorsement is hereby amended in the following particulars: (a) The general exceptions at the following lettered paragraphs of Schedule B are hereby deleted: NO CHANGE (b) The special exceptions at the following numbered paragraphs of Schedule B are hereby deleted: NO CHANGE (c) The special exceptions at the following numbered paragraphs are hereby added/amended to Schedule B-l: PLEASE DELETE pAP. AGRAPH 2 FROM OUR COMMITMENT (d) The requirements at the following numbered paragraphs are hereby added/amended to Schedule C: NO CHANGE LAND TITLE COMPANY OF KITSAP COUNTY 0RIClN,~L ALTA OWNER'S POLICY STANDARD SCHEDULE A Office File No.: E-104872-1 Policy Number: 48 0025 106 02134 Date of Policy: November 22, 1995 at 2:46 p.m. Amount of Insurance: $70,000.00 Premium: $291.00 1. Name of Insured: CITY OF BREMERTON, a municipal corporation 2. The estate or interest in the land which is covered by this policy is: A FEE 3. Title to the estate or interest in the land is vested in: THE NAMED INSURED 4. The land referred to in this policy is described as follows: SEE LEGAL DESCRIPTION ATTACHED ON "EXHIBIT A" AND BY REFERENCE MADE A PART HEREOF SCHEDULE A ALTA Owner's Policy 10-17-92 EXHIBIT 'A' Office File No.: E-104872-1 DESCRIPTION: LOT 33 AND THE SOUTH 20 FEET OF LOT 34, BLOCK 18, NAVY YARD CITY, ACCORDING TO PLAT THEREOF RECORDED IN VOLUME 3 OF PLATS, PAGE 75, RECORDS OF KITSAP COUNTY, WASHINGTON. SCHEDULE B Office File NO.: E-104872-1 Policy No: 48 0025 106 02134 EXCEPTIONS FROM COVERAGE This policy does not insure against loss or damage (and the Company will not pay costs, attorneys' fees or expenses) which arise by reason of: GENERAL EXCEPTIONS: A. Rights or claims disclosed only by possession, or claimed possession, of the. premises B. Encroachments, and questions of location, boundary and area disclosed only by inspection of the premises or by survey. C. Easements, prescriptive rights, rights-of-way, streets, roads, alleys or highways not disclosed by the public records. D. Any lien, or right to a lien, for contributions to employee benefit funds, or for state workers' compensation, or for services, labor, or material heretofore or hereafter furnished, all as imposed by law, and not shown by the public records. E. Taxes or special assessments which are not yet payable or which or not shown as existing liens by the public records. F. Any service, installation, connection, maintenance, tap, capacity or construction charges for sewer, water, electricity natural gas or other utilities, or garbage .collection and disposal. G. Reservations and exceptions in the United States Patents or in Acts authorizing the issuance thereof; Indian tribal codes or regulations; Indian treaty or aboriginal rights, including easements or equitable servitudes. H. Indian tribal codes or regulations, Indian treaty or aboriginal rights, including easements or equitable servitudes. I. Water rights, claims or title to water. FOR SPECIAL EXCEPTIONS, SEE ATTACHED Office File'No.: E-104872-1 Policy No.: 48 0025 ~06 02134 ALTA STANDARD OWNERS POLICY SCHEDULE B - cont'd SPECIAL EXCEPTIONS: SC/bl END SCHEDULE B ~THORIg~D SIGNhTOR¥ OWNER'S POLICY ENDORSEMENTS: NONE ISSUED FROM THE OFFICE OF: LAND TITLE COMPANY OF KITSAP COUNTY COMMITMENT FOR TITLE INSURANCE SCHEDULE A 1. Effective Date: October 9, 1995 at 8:00 a.m. Office File No.: E-104872-1 2. Policy or Policies to be issued: Your Reference: STOCKTON ALTA Owner's Policy 10-17-92 Rate: RES/RESALE Amount: $ 70,000.00 (X) Standard ( ) Extended Premium: $ 291.00 Proposed Insured: Tax: $ 23.57 CITY OF BREMERTON ALTA Loan Policy 10-17-92 Rate: Amount: $ ( ) Standard ( ) Extended Premium: $ Proposed Insured: Tax: $ Other Coverage= Amount: ( ) Standard ( ) Extended Premium= Proposed Insured: Tax: OTHER FEE: $ Tax: $ MINIMUM CANCELLATION FEE INCLUDING TAXES: $54.05 NOT~: In the event there is no activity on this film within six (6) months from the effective date, the cancellation fee may be billed. 3. The estate or interest in the land described to in the Commitment and covered herein is: A FEE 4. Title to the estate or interest in the land is vested in: JAMES J. STOCKTON, as his separate property 5. The land referred to in this Commitment is described as follows: SEE LEGAL DESCRIPTION ATTACHED ON "EXHIBIT A" AND BY REFERENCE MADE A PART HEREOF. EXHIBIT 'A' Office File No.~ E-104872-1 DESCRIPTION= LOT 33 AND THE SOUTH 20 FEET OF LOT 34, BLOCK 18, NAVY YARD CITY, ACCORDING TO PLAT THEREOF RECORDED IN VOLUME 3 OF PLATS, PAGE 75, RECORDS OF KITSAP COUNTY, WASHINGTON. SCHEDULE B Office File No. ~ E-104872-1 EXCEPTION~ FRO~ COV~P. AGE This policy does not insure against loss or damage (and the Company will not pay costs, attorneys' fees or expenses) which arise by reason of: ~ENEP. AL EXCEPTIONS: A. Rights or claims disclosed only by possession, or claimed possession, of the premises. E. Encroachments and questions of location, boundary and area disclosed only by inspection of the premises or by survey. C. Easements, prescriptive rights, rights-of-ways, streets, roads, alleys or highways not disclosed by the public records. D. Any lien, or right to a lien, for contributions to employee benefit funds, or for state workers' compensation, or for services, labor, or material heretofore or hereafter furnished, all as imposed by law, and not shown by the public records. E. Taxes or special assessments which are not yet payable or which are not shown as existing liens by the public records. F. Any service, installation, connection, maintenance, tap, capacity or construction charges for sewer, water, electricity, natural gas or other utilities, or garbage collection and disposal. G. Reservations and exceptions in United States Patents or in Acts authorizing the issuance thereof. H. Indian tribal codes or regulations, Indian treaty or aboriginal rights, including easements or equitable servitudes. I. Water rights, claims, or title to water. J. Defects, liens, encumbrances, adverse claims or other matters, if any, created, first appearing in the public records, or attaching subsequent to the effective date hereof but prior to the date of the proposed Insured acquires of record for value the estate of interest or mortgage thereon covered by this Commitment. FOR SPECIAL EXCEPTIONS, SEE ATTACHED COMMITMENT FOR TITLE INSURANCE Office File NO.: E-104872-1 SCHEDULE B-I SPECIAL EXCEPTIONS: 1. Deed of trust, to secure an indebtedness of $17,000.00 including any interest, advances or other obligations secured thereby; Dated: November 17, 1972 Recorded: November 24, 1972 Recording No.: 1034986 Grantor: James J. Stockton and Joellen L. Stockton, husband and wife Trustee: First American Title Insurance Company Beneficiary: The Lomas & Netleton Company, a Corporation a. The beneficiary's interest was assigned by successive assignments, the last of which was; Dated: November 17, 1972 Recorded: August 1, 1995 Recording No.: 9508010046 TO: Chase Manhattan Mortgage Corporation, a Corporation 2. Subject to matters disclosed upon further examination of Superior Court Cause NO. 84-3-00210-2. 3. General taxes for the second half of 1995, which become delinquent after October 31, 1995, if unpaid; Amount: $323.72 Tax Account No.: 4600-018-033-0009 Affects: said premises Levy Code: 1390 Assessed Value: $52,050.00 NOTE: General taxes for the full year bill in an amount of $647.45. 4. Liens of real estate excise sales tax upon any sale of said premises, if unpaid. Excise tax rate for Kitsap County is 1.78%. AB/rjm END SPECIAL EXCEPTIONS COMMITMENT FOR TITLE INS~P~NCE Office File No.: E-104872-1 SCHEDULE C The following are the requirements to be com~lied with: 1. Instruments necessary to create the estate or interest or mortgage to be insured must be properly executed, delivered, and duly filed for record. 2. A legal description was not included in the application for title insurance. The legal description contained herein was taken from the record. The description must be examined and approved by the parties prior to closing. 2. In the event that the property described herein is occupied by a married person and spouse as a homestead, the conveyance or encumbrance of the property must be executed by both husband and wife, pursuant to RCW 6.13 which now provides for an automatic homestead on such property. END SCHEDULE C REQUIREMENTS (SEAL) {SEAL) Slale of WASHINGTON Pool Number: County of K. ITSAP Loan Numbe~: 0074536 Assignment of Deed of Trust REEL 1386~ FR 2896 whose add:ess is 1000 Acta~ Avenue. Noh'islow. n, Pennsylvania 19403-2402, ~s Beneficiary o~ beneficia~y's STOCKTON AND JOELL~ ~ ~OCKTON, Glantor. to FIRST AMERICAN TITLE INSURANCE COMPANY. Trustee, ~ Wesh[nglon covering I~n~ m sa d county mo e u y desc~ bed n such Deed o Trust Executed to be effective ~ ;~ August 1, 1994. K[TSAP COUNTY $8. O0 CHCK FILED-BY: Y~NGBLOOO & YO~BL~D ~AREN FL Y~, AUDITOR CLERK: LA~ENCE A. F. ~: .9508D~DO~6 County of Dallas ~ authorized to execute :he ~m instrument. APPENDIX RECITALS ~ecltai No. '~. WHEREAS, effective April 23, 1982. Caneret Savings and Loan Ass=cJr-~n convened to a faderat savtngs and lo~n association, effective May 5, 1982, c~-~nged Its corporate title to Carteret Savings and Loan Association. F.A., anct ~'=.ective January 15, 1986 changed its corporate title to Carteret Savings Ea~,~ F.A.; end ~ WHEREAS, by Order No. 92-509 of the Office of Thrift Supe~is~n, Depac[ment of the Treasury of the United States ('OTS'), dated December .~o 1992, Resolution Trust Corporation ('RTC') wes appointed as Receiver of C, aneret Savings Sank, F.A. (#Old Thrift"); and Recital No. 3. WHEREAS, by OTS Order No. 92-509, dated December 4, 1992, RTe. as Receiver for Old Thrift. immediately organized Certeret Federal Savings Ee~. {'New Thrift') and caused it to be chelated es a federal mutual savings e~-.-i~tion; and ~echa{ Ne...~. WHEREAS, by OTS Order No. 92-509, dated December 4. 1992, RTC .~as appointed as Conservator for New Thrift end by virtue of that certain P~.~e and Assumption Agreement dated December 4, 1992, entered into betwee~ RTC as Receive~ for Old Thrift end RTC as Conservator for New ThriL RTC as Conservator for New Thrift succeeded to ell right, fide and privilege In and to ~z~stantlally all of the assets of Old Thrift, including the cleed of trust/mon~ and note which a~e the subject of this assignment; and ~cltal No. E. WHEREAS, by OTS Order No. 95-49, dated March 10, 1995. RTC as C=n..~vator of New Thrift was replaced by RTC as Receiver for New Thrift, which ~c~-~m'nent as Recelve~ was accepted by RTC on March 10. 1995. A.F.#: 950801D046 REEL 0869 FR 28~? Pioneer National Title Insurance Company · . [ , ', . Filed for Record at Request o! ~i~, . - , · ' . ::: ~. Transamerica Tit!~ L,sur.c.e Co. ~ '.,;' ;. ' ' J l,¢ I ~O' !if;:._*.:.... ~."... ::~ ': :-J?';.' ' ' Bremerton, ~ra a8'~10 "'...,.. . . . ::,~':;'~'~ ,,,.: b, surac:e Co '-. -'-..:~.:!/% . ~ ;')..'., ;:?](:.~?[j~)(:~:. · ~ Statutory Warranty D.ed '~ ~ - · ~ ~.: .'. ?jQ~:,~.-..~., . :. { foran~ ~n consi~etallon of ~en an~ ~o/lO0 .... Dollars and other ~ and valuable consideration ~ '. Loc 33 and the South 20 feec o[ Lot 3~ in ~l~k 18 of Nav~ - - · - ~xo BEC B1972 .... .. ~uu', ,~% . ~ - - -:.~' . STATE OF W^$HINOTON, I SELLERS' CLOSING STATEHENT 1322 BAYVIE~ DRIVEr BRE~ERTONt W~SHINGTON SELLERS: JAMES J. STOCKTON and VIOLA L. STOCKTON PURCHASER: CITY OF BREMERTON LEQAL DESCRIPTION: LOT 33 AND THE SOUTH 20 FEET OF LOT 34, BLOCK 18, NAVY YARD CITY, ACCORDING TO PLAT THEREOF RECORDED IN VOLUME 3 OF PLATS, PAGE 75, RECORDS OF KITSAP COUNTY, WASHINGTON. AMOUNTS DUE/PAID SELLERS Total Purchase Price $70,000.00 Add 1/2 of $400.00 appraisal fee, previously paid to Schaefer Sinnett Hernandez, Inc., by Sellers, to Sellers proceeds as reimbursement from the City per 10/12/95 Purchase Agreement (See copy of Invoice attached as Exhibit "A") 200.00 Cash payment payable to Sellers at Closing $70,200.00 REDUCED BY Sellers' Closing Costs\Expenses: Mortgage Payoff Balance to Chase Manhatton Mortgage Company (See Exhibit "B" attached) $7,501.04 Title Insurance Premium (Land Title Insurance Company) 314.57 1% Real Estate Excise Tax (1.78% - Kitsap County Treasurer) 1.246.00 Total Sellers' Closing Costs $9,061.61 (9.061.61) TOTAL CASH PROCEEDS PAYABLE TO SELLERS AT CLOSING $61,138.39 NOTE: It is understood that real property taxes for the 1995 tax year have been paid and that said taxes become exempt as of the date of closing. The tax amount previously paid will be pro-rated and a SELLERS' CLOSING STATEMENT --1-- STOCKTON.SCS - West Hi[IS Closings - 11/10/95 refund will be returned to Sellers by the Kitsap County Treasurer. It is further understood and agreed by all parties hereto that this closing statement is subject to audit and should there be any errors or omissions, they are to be corrected. Further, if any legitimate monetary error is discovered, it is to be assessed and i~ediately collected from the party or parties liable therefor. VlO~ L. STOCKTON SELLERS' CLOSING STATEMENT --2-- STOCKTON.SCS - Yest HiLLs Closings - 11/10/95 $CHAEFEFI $1NNI=TT HERNANDEZ,INC ................. INVOICE P.O. Box 2257 Bremerton, WA 98310 (2o8) 813-5~28 Tax ID: EXHIBIT NO. "~" Client: Jim StoCk, on 1322 Bayv~ew D:~ve Bremer:on, WA 98312 Al:'cenl::Lon: H~: James Sl:ockl:on APPRAISAL FEE FOR SERVICES RENDERED $ 400.00 1322 Bayview Drive Bremer~on. WA 98312 See A~ached 0OlO0i7798 ii'I08/9,5 xP101 0~ 2 5 At,n: jackie Crank City Of Brenerton Loan VA Gu~r~t Bremerton.j WA 98312:-4773 ' ' ' These fibres are ~iid t~o.Nove~er 09, 1995,:. and 'ar~ verification to ensure c~e proper application.'o~ .all' and escrow disbursements ~de after the date of thi~' process all avail~!e t~ and insur~ce bills. (if the curr~nt escrow balance of $ 139,91 through the"da~e off during th~ month :that~ this stat~ent is verz~icatXon by the Note~lder. Pi~res ~v ,~ ad~ub~dl cneck/~gney..order previously recezved zs re)¢ct¢d upon which zt ~ dra~. , -- Fu~s t0 eo~er ~y def~cz~ncy mu~t 'be.fo~rd~d by. be received ~ the followln buszness day. I~ this cne?~ wl&l De retu~ed to~ you aud interest will 'co~t~n~e~'t~ untzl full. pa~ent i~ received. Disburs~en~,s') ~e~i due~ A late charge of S 8' 3g' '~i~. assessed 15 days after a current pa~ent is due ~d to the ~yoff total if received after that time2 xP~0~ 038/2~5 PF: 2 SC B C~v~n~ . ~e~t ~. ~ cu ated on a pet die~. ~ ~g up to the day p~or to ~ce~ving :he ~voff ~A - ~ noace ~s ~ advac you of the pt~rc w~ch w, II ~ followed (Vo~ after ~ da~.) : : : c~cel the ~t~tm) ~ wh~ m ~ aoy un~ p~emiu~, ff a~li~b~. : . . ~*1 d~v~ ~hVs. Payoff ~t~nc~' l~ p~C&~ ~ of ~e ~ they are r~v~ Wiring 1-~-551.5L~ Aeon: Payoff ~pt. .Jack~e. Fl Fun& m~t ~ ~ce~ at: C~C ~ 4 p.m. E~ for thc ~me day pr~ess~c~it. : be assessed ~nd ~ediately col~cted from the party or parties liable therefor./ ACCEPTED ~D APPROVED thi , 1995. CIT ERTON I~ ~'SIEVERS Brem~ton City Attorney PURCHASER'S CLOSING STATEMENT -2- STOCKTON. PCS - Nest H i L [ s C [ os i ngs - 11 / 10/~5 PURCHASER'S CLOSING STATEMENT 1322 BAYVIEW DRIVEr BREMERTONv WASHINGTON SELLERS: JAMES J. STOCKTON and VIOLA L. STOCKTON PURCHASER: CITY OF BREMERTON LEGAL DESCRIPTION: LOT 33 AND THE SOUTH 20 FEET OF LOT 34, BLOCK 18, NAVY YARD CITY, ACCORDING TO PLAT THEREOF RECORDED IN VOLUME 3 OF PLATS, PAGE 75, RECORDS OF KITSAP COUNTY, WASHINGTON. AMOUNTS DUE/PAID SELLERS Total Purchase Price $70,000.00 Add 1/2 of $400.00 appraisal fee, previously paid to Schaefer Sinnett Hernandez, Inc., by Sellers, to Sellers proceeds as reimbursement from the City per 10/12/95 Purchase Agreement (See copy of Invoice attached as Exhibit "A") 200.00 Cash payment payable to Sellers at Closing $70,200.00 ADD Purchaser's Closing Costs to Cash Payment Payable at Closing: Recording Fee for Statutory Warranty Deed (Kitsap County Auditor) $8.00 Total Purchaser's Closing Costs $8.00 8.00 TOTAL CASH REQUIRED FROM PURCHASER TO CLOSE $70,208.00 NOTE: It is understood that real property taxes for the 1995 tax year have been paid and that said taxes become exempt as of the date of closing. The tax amount previously paid will be pro-rated and a refund will be returned to Sellers by the Kitsap County Treasurer. It is further understood and agreed by all parties hereto that this closing statement is subject to audit and should there be any errors or omissions, they are to be corrected. Further, if any legitimate monetary error is discovered, it is to PURCHASER'S CLOSING STATEMENT --1-- STOCKTON.PCS - West Hills Closings - 11/10/95 PLEASE TYPE OR PRINT REAL ESTATE EXCISE TAX AFFIDAVIT i byThis f°rmisy°ur re~iptwben stam!~lcashier. PLEASE SEE REVERSE Form No. 84 000lA CHAPTER 82.45 RCW - CHAPTER 458~1 WAC For Use at Count/Treasurer's Office (Use Form No. 84-0001B for Reporting Transfers of Controlling Interest of Entity Ownership to the Department of Revenue) THIS AFFIDAVIT WILL NOT BE ACCEPTED UNLESS ALL AREAS 1--7 ARE FULLY COMPLETED ~] Name JAMES O. STOC;<TON . [] Name 3 YY OF BREHERT']N ~ Street 1322 BAYViEW DRTVE ~ ~ 23] 411t STRrYET mL2=l rJ City City_ BR£MERTON State ~A Zip !)$322 BREHERTON State I~A Zip 3i~337 B ADDRESS TO SEND ALL PROPERTY TAX RELATED CORRESPONDENCE ALL TAX PARCEL NUMBERS ]LEGAL DESCRIPTION OF PROPERTY SITUATED IN [] UNINCORPORATED COUNTY Street Address (if property is improved): ~-;)~. BayvSe:~ DzJ. v~. LOT 33 AND THE SOUTH 2(! FEET OF LOT 34, 8LOCK 1~, NAVY YARD CITY, AC;lORDING ~0 PLAT THEREOF RECORDED 7N VOLUME 3 0g PLATS, ?ACE 75, RECORDS OF K]I'SAP COUNTY, WASHINGTON. ]Is this property currently: YES NO [] Description of tangible personal property if included in sale (fitrniture, Classified or designated as forest land? [] ~ appliances, etc.) Chapter 84.33 RCW Classified as current use land (open space, farm [] [] and agricultural, or timber)? Chapter 84.34 RCW Exempt from property tax as a nonprofit [] [] If exemption claimed, list WAC number and explanation. organization? Chapter 84.36 RCW Seller's Exempt Reg. No. -- WAC No. (Sec/Sub) Receiving special valuation as historic [] [] Explanation property under?. Chapter 84.25 RCW Pro~_perty Type: [] land on/y [] land with new building ILl land with previously used building [] land with mobile home Type of Doeument [] timber only [] building only Principal Use: [] Apt. (4 + unit) ~3 residential Date of Document [] timber [] agricultural [] commereial/industrial Gross Sale Price $ [] other Personal Property (deduct) $ -0 l~l (1) NOTICE OF CONTINUANCE (RCW 84.33 or RCW 84.34) Taxable Sale Price $ 7 0 Excise Tax State $ If the new owner(s) of land that is classified or designated as current use or forest land wish to continue the classification or designation of such Local $ - land, the new owner(s) must sign below. If the new owner(s) do not desire Delinquent Interest: State $ - 0 - to continue such classification or designation, all compensating or additional Local $ ~ t) ,. tax calculated pursuant to RCW 84.33.120 and I40 or RCW 84.34.108 shall - be due and payable by the seller or transferor at the time of sale. The county Delinquent Penalty: State $ '- assessor must determine if the land transferred qualifies to continue Total Due $ classification or designation and must so indicate below. Signatures do FHERE IS A $2.00 FEE FOR PROCESSING THIS FORM IF NO TAX IS DUE not necessarily mean the land will remain in classification or designation. If it no longer qualifies, it will be removed and the compensating taxes [] AFFIDAVIT will be applied. All new owners must sign. I certify under penalty of perjury under the laws of the state of This land [] does [] does not qual/fy for continuance. Washington that the foregoing is true and correct. Date Signature of DEPUTY ASSESSOR Grantor/Agent (2) NOTICE OF COMPLIANCE (Chapter 84.26 RCW) Name (print) 'IANc-S , STOCK If the new owner(s) of property with special valuation as historic property wish to continue this special valuation the new owner(s) must sign below. Date & Place of , , If the new owner(s) do not deslro to continue such special valuation, ail (. - )/ ~/.,..~.,..._.._ additional tax calculated pursuant to Chapter 84.26 RCW, shall be due Signature of and payable by the seller or transferor at the time of sale. Grantee/Ag~ z~~ (3) OWNER(S) SIGNATURE Name (print) I~AN Date & Place of Signing N o v,~ m b :~ !' PERJURY: Perjury is a class C felony which is punishable by imprisonment in a state correctional institution for a maximum term of not more than five years, or by a fine in an amount fixed by the court of not more~,ll&n five thousand dollars ($5,000.00), or by both imprisonment and fine (RCW 9A.20.020 (lC)). FOR TREASURER'S USE ONLY FORM REV 84 0001A (12-93) (PD 12-17-93) TAXPAYER IAN R. SIEVERS, City Attorney 239 4th Street · Bremer~on, WA 98337 · (360) 478-5345 · FAX (360) 478~5161 DATE: March 14, 1996 TO: Kathleen McCluskey, Administrative Services Director FROM: Jackie Cronk, Legal Assistant~~ RE: 1322 Bayview Drive Stockton/City of Bremerton Transaction Please find attached hereto the Title Insurance Policy issued by Land Title Company with regard to the City's purchase of the above-referenced property. Please call our office if you have any questions in this regard. Equal Opportunity Employer IAN R. SIEVERS, City Attorney 239 4th Street · Bremer~on, WA 98337 · (360) ~-78-5345 · FAX (360) 478-5161 DATE: March 4, 1996 TO: Kathleen McCluskey, Administra~tiv,~e~ices Director FROM: Jackie Cronk, Legal Assistant ~'.X~7 '~ RE: 1322 Bayview Drive Stockton/City of Bremerton Transaction Please find attached hereto the Substitution Trustee and Full Reconveyance regarding the City's purchase of the above-referenced property. This transaction is pursuant to that Real Estate Purchase and Sale Agreement between Stockton, and the City of Bremerton. Please call our office if you have any questions in this regard. Equal Opportunity Employer IAN R. SIEVERS, City Attorney 239 4th Street · Bremerton, WA 98337 · (360) 4?3-5345 · FAX (360) 478-5161 DATE: December 13, 1995 TO: Kathleen McCluskey, Director of Administrative Services FROM: Jackie Cronk, Legal AssistantC-"~,~c<O~ RE: 1322 Bayview Drive - ~ D Stockton/City of Bremerton Transaction The above-referenced real estate transaction has now been closed. I have attached hereto the following documents for your information and file: 1. Original Statutory Warranty Deed between James J. Stockton and Viola L. Stockton, together with corresponding Real Estate Excise Tax Affidavit; 2. Original Seller's Closing Statement; and 3. Original Purchaser's Closing Statement. The Stocktons had an underlying mortgage on the property held by Chase Manhattan Mortgage Corporation. The mortgage was paid off on November 9, 1995 (see copy of letter to Chase Manhattan Mortgage Corporation attached hereto for your information). I have attached a copy of the Deed of Trust, dated November 17, 1972, between James J. Stockton and Joellen L. Stockton (Mr. Stockton's ex-wife), as Grantors, and the Lomas & Nettleton Company, as Beneficiary. The Beneficiary's interest in said Deed of Trust was assigned by successive assignments, the last of which was dated August 1, 1994, to Chase Manhattan Mortgage Corporation. I have also attached a copy of the Assignment of Deed of Trust hereto for your information and file. I will forward the title policy to you after we receive the same from Land Title. Please let me know if you have any questions. Attachments: as cited · Celebrating 50 Years of Freedom o IAN R. SIEVERS, City Attorney 239 4th Street * Bremerton, WA 98337 * (360) 478-5345 * FAX (360) 478-5161 November 9, 1995 Chase Manhattan Mortgage Corporation 1500 North 19th Street Monroe, Louisiana 71201 ATTENTION: Payoff Department Re: James J. Stockton - SSN: 534-46-4683 Viola L. Stockton 1322 Bayview Drive Bremerton, WA. 98312 Mortgage Loan No. 001-001-7798 Dear Sir or Madam: The City of Bremerton has purchased the above-referenced property from James J. and Viola L. Stockton. I have enclosed a check herein for the amount of $7,501.04, which is the payoff balance for Mortgage Loan No. 001-001-7798 as of November 9, 1995, (closing date for the transaction between James J. and Viola L. Stockton and the City of Bremerton), together with daily interest of $1.43 in the amount of $5.72, to cover interest through November 13, 1995, pursuant to that Payoff Statement dated November 8, 1995, received from Chase Manhattan Corporation. I have enclosed a copy of said Payoff Statement herein for your reference. Please apply the enclosed check to the above-referenced loan on the 13th day of November. The payment of this loan in full is pursuant to that Deed of Trust, dated November 17, 1992, between James J. Stockton and Joellen L. Stockton, as Grantors, and The Lomas & Nettleton Company, as Beneficiary. The Beneficiary's interest in said Deed of Trust was assigned by successive assignments, the last of which was dated November 17, 1972, to Chase Manhattan Mortgage Corporation. I have attached a copy of the Deed of Trust and Assignment of Deed of Trust hereto for your reference. In the event Request for Reconveyance for the above-referenced Deed of Trust is not sent to the Trustee, please be sure that it is forwarded to the city of Bremerton at the address listed on this letterhead. Any escrow balance refund should be sent to James J. and viola L. Stockton. · Celebrating 50 Years of Freedom ase an a an or gage ~-6-~por---f~lon November 9, 1995 Page 2 Please do not hesitate to call our office should you have any questions in this regard. Thank you for your assistance. Sincerely, JA~K~E R. CRONK~ Leg~a-l~Assistant Enclosures: as cited cc: James and Voila Stockton C,T¥ o, ."E,E,TO, ~ GE.E,A, ACCOU.T o.~o~ ~o ~89522 !Z:I'-'h~:~SE r,IFiNHAT'TON MCIR'I"I~.~AGE C;C~MF'ANY ~,~ ~o. 18 9 5 2 2 CITM OF BREM~ON C~REMEmON BRANCH GENERAL ACCOU~ ~.O. ~X279 239 4TH ST (360) 478:5210 8REMER~WA98337 BREMERTON, WA 98337 DATE 1 1 ..' ~ c, / ~.-, PAY THE SI_IN OF :~::'~:*:{::~: 7, .. ~ .[- ': "a' . g~4DOLLARS AMOUNT :::~::t::~:'7 =h31_... q~4~::~:_. TO THE C:HASE MANHA]'Tmi~N hlORTGAGE C:OMF'ANY ORDER OF 1.5~]¢_ N I'9'TH STREET HONROE LA 712E]I IAN R. SIEVERS, City Attorney 239 4th Street · Bremerton, WA 98337 ,, (360) 478-5345 · FAX (360) 4/8-5161 DATE: November 2, 1995 TO: Kathleen McCluskey, Director of Administrative Services FROM: Jackie Cronk, Legal Assistant%C~,-~ RE: 1322 Bayview Drive James Stockton/City of Bremerton Transaction Please find attached hereto an Endorsement to the Preliminary Title Insurance Policy received from Land Title Company regarding the City's upcoming purchase of the above-referenced property. This transaction is pursuant to that Real Estate Purchase and Sale Agreement between James Stockton and the City of Bremerton. This transaction is scheduled to close on Thursday, November 9, 1995. Please call our office if you have any questions in this regard. · Celebrating 50 Years of Freedom · ~IAN R. SIEVERS, City Attorney 239 4th Street · Bremerton, WA 98337 · (360) 478-5345 · FAX (360) 478-5161 DATE: October 27, 1995 TO: Paul Lucas, Administrative Analyst FROM: Jackie Cronk, Legal Assistant ~ RE: 1322 Bayview Drive James Stockton/City of Bremerton Transaction Please find attached hereto a copy of the Preliminary Title Insurance Policy received from Land Title Company regarding the City's upcoming purchase of the above-referenced property. This transaction is pursuant to that Real Estate Purchase and Sale Agreement between James Stockton and the City of Bremerton. Please call our office if you have any questions in this regard. · Celebrating 50 Years of Freedom IAN R. SIEVERS, City Attorney 239 4th Street * Bremerton, WA 98337 · (360) 478-5345 · FAX (360) 478-5161 DATE: October 27, 1995 TO: Kathleen McCluskey, Director of Administrative Services FROM: Jackie Cronk, Legal Assistant ~ RE: 1322 Bayview Drive James Stockton/City of Bremerton Transaction Please find attached hereto the Preliminary Title Insurance Policy received from Land Title Company regarding the City's upcoming purchase of the above-referenced property. This transaction is pursuant to that Real Estate Purchase and Sale Agreement between James Stockton and the City of Bremerton. Please call our office if you have any questions in this regard. · Celebrating 50 Years of Freedom County of KITSAP Loan Number: 0074536 " Assignment of Deed of Trust REEL 0869 FR 2896 whose address is 1000 Adac~s Avenue. Norristow. n, Pennsylvania 19403-2402. as Beneficiary or beneficlary*s under the laws of Delaware.. whose address is 4915 Independence Parkway. Tampa. Florida 33634-7543. STOCKTON AND JOELL.E~_ L.- ~OCKTON, Grantor. to FIRST AMERICAN TITLE iNSURANCE COMPANY. Trustee. Washington. covedng lan~ im said county mo~e fully described in such Deed of T~ust. Executed to be effective ~ ~ August 1. 1994. K[TSAP COUNTY S8, O0 CNCK FILED-BY: YO~GBLOOD ~ YO~ ~A~N FL Y,~4, AUDITOR CLERK: LAURENCE Savings Bank Eldon L. Yo~ngblood, APPENDIX I RECITALS ~Recltal No. ~. WHEREAS. effective April 23, 1982, Carterat Savings and 5. 1982, ct-~ged Its corporate title to Cartaret Savings and Loan Association, F,A., and e~,,ective January 15, 1986 changed Its corporate title to Carteret Savings ~m~, F.A.; end ~ecit&l No. 2- WHEREAS, by Order No, 92-509 of the Office of Th¢ift Supervlsi~n. ~par[ment of the Treasury of the United States ('OTS'), dated December .c. 1992, Resolution Trust Corporation ('RTC') was appointed as Receiver of ~'..~'teret Savings Bank; F.A. ('Old Thrift'): and 1992. RTC.. ~s Receiver for Old Thrift, immediately organized Car~erat Eaderal ~acilal No..r. WHEREAS. by OTS Order No, 92-50g, dated Oecembar 4, 1992, RTC ~ras appointed as Conservator for New Thrift, and by virtue of that into betweem RTC as Receiver for Old Thrift end RTC as Conservator tot New Thrift, RTC ~ Conservator for New Thrift succeeded to all right, ~Jtle end privilege In and to ~c~bstanttally all of the assets of Old Thrift, including the dead of ~eci~al No. E. WHEREAS. by OTS Order No. 95-49, dated March 10, 1995, RTC as Com,~vator of New Thrift was replaced by RTC as Receiver for New Thrift, which ap~:c,-~ ~',~ent as Receiver was accepted by RTC on March 10, 1995. REEL O~&9 FR 2B97 ' ' (SEAL] (SEAL) /fl~,,..~,,,~. WHEN RECORDED, HAIL TO: Nationwide Title Clearing 7530 Glenoaks Blvd., #200 Burbank, California, 91504 Loan Number=10017798 SUBSTITUTION OF TRUSTEE WHEREAS, JA~ES J. STOCKTON & JOELLEN L. STOCKTON was the original Trustor, FIRST AMERICAN TITLE INSURANCE COMPANY was the original Trustee, and THE LOMAS & NETTLETON COMPA~-~ was the original Beneficiary under that certain Deed of Trust dated 11/17/72 in KITSAP County, Washington, under Doc No:1034986 or Book 34FR page 196 WHEREAS, the undersigned Beneficiary is the present Beneficiary under said Deed of Trust and WHEREAS, the undersigned desires to substitute a new Trustee under Deed of Trust in place and stead of said original Trustee thereunder. NOW, THEREFORE, the undersigned hereby substitutes: NATIONWIDE TITLE CLEARING , a Washington State corporation, as Trustee under said Deed of Trust. Dated: 01/24/96 CHASE ~NHATTAN MOzR-T~GE CORPORATION FKA CHASE HOME MORTGAGE STATE OF CALIFORNIA COUNTY OF LOS ANGELES Before me, a Notary Public, in and for said State and County aforesaid, personally appeared LAURIE KEZSBOM , with whom I am personally acquainted, and who, upon oath, acknowledged him/herself to be the VICE PRESIDENT of CHASE MANHATTAN MORTGAGE CORPORATION FKA CHASE HOME MORTGAGE CORPORATION , the within bargainor, and that he/she, as such corporate officer, being authorized to do so, executed the within instrument for the purposes therein contained by signing the name of the corporation thereto as such VICE PRESIDENT WITNESS my hand and official seal at office in said county this 24th day of January, 1996 ~'~ Rhonda Mendola ~/I _ ii ~l~/~ ~ 0~'~ Comm. #1056313 LOS ANGELES COUNTY ~ONDA MENDOLA -- Notary Public Oomm. ~D. A~d~ 19, 1999~ KITS P COUNTY $8.00 CHCK FILED-BY: C[TY OF BRE ERTON 1, 1 96, 12:50 KAREN FLYNN AUDITOR CLE : BEVANS WHEN RECORD~D, MAIL TO: Nationwide Title Clearing 7530 01enoaks Blvd., #200 Burbank, California, 91504 Loan No:10017798 DEED OF FULL RECONVEYANCE WHEREAS, JAI~S J. STOCKTON & JOELLEN L. STOCKTON was the original Trustor, FIRST AMERICAN TITLE INSUP~NCE COMPANY was the original Trustee, and THE LOEAS & NETTLETON COMPANY was the original Beneficiary under that certain Deed of Trust dated 11/17/72 in KITSAP County, Washington, under DOC No:1034986 or Book 34FR page 196 NATIONWIDE TITLE CLEARING, as successor Trustee under said Deed of Trust and as successor Trustee, having received from the Beneficiary under said Deed of Trust, a written request to reconvey, reciting that the obligation{s) secured by the Deed of Trust have been fully satisfied, does hereby grant, bargain, sell and reconvey, unto the parties entitled thereto all right, title and interest which was heretofore acquired by said Trustee(s) under said Deed of Trust. Dated: 01/24/96 NOR~NNOVITSKY, VICE PRESIDENT STATE OF CALIFORNIA COUNTY OF LOS ANGELES On 01/24/96 before me, THE b-N-DERSIGNED, Notary Public, personally appeared NORMAN NOVITSKY, VICE PRESIDENT, personally known to me (or proved to me on the basis of satisfactory evidence) to be the person whose name is subscri- bed to the within instrument and acknowledge to me that he executed the same in his authorized capacity, and that by his signature on the instrument the person, or entity upon behalf of which the person acted, executed the same. ~ESS Ml hand anUff~cial seal. TH~ ~N~D~giG~NED - - Not ary Public ; O~OT~Y PUBLIC- CALIFO~IA~/ LOS ANGE~S ~UNTY ~ A.F.#: 603050277 REEL FR 2757