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Home My WebLink AboutLewis Place LLC - Purchase & Sale Agreement, First Amendment and Second Amendment for Parcel No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pril 7, 2022 April 19, 2022 Lewis Place LLC AND/OR Assigns City of Pasco 113900092 TBD Heritage Blvd, Pasco, WA 99301 120,000.00 2,500.00 X 3 X Chicago Title Chicago Title 15 days after Feasibility X X X X X X 60 X Lewis Place LLC AND/OR Assigns 2715 Saint Andrews Loop Pasco, WA 99301-3386 (509)845-7199 Steve@b4land.com Lybbert Fielding Real Estate Andrew Lybbert (509)531-8012 contracts@lybbertfielding.com andrew@lybbertfielding.com 21015512 8873 City of Pasco Lybbert Fielding Real Estate, 6119 Burden Blvd, Ste C Pasco WA 99301 (509)531-8012 Lewis Place LLC - Andrew Lybbert $135,000 Ticor Title | Patty Sweetwood Ticor Title SVN | Retter & Co. Rob Ellsworth 509.430.2378 Rob@RobEllsworth.com Robin.Murphy@SVN.com 17790 20279 and 2nd Addendum DocuSign Envelope ID: C72D8CC9-74FE-4EB8-AB60-6F3E2B266BAD 04/30/2022 04/30/2022 DocuSign Envelope ID: 9130B688-FE77-44D6-AA28-89D820A7E777 5/2/2022 5/2/2022 5/2/2022 - + ! 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ewis Place LLC - DocuSign Envelope ID: C72D8CC9-74FE-4EB8-AB60-6F3E2B266BADDocuSign Envelope ID: 9130B688-FE77-44D6-AA28-89D820A7E777 5/2/2022 !" # $"%& '(!( )!&! !* )) +,-. //0/1 ." ((%! !& " *"& ( 2% 345 46 34((46 * * ! 34" 46 +. + ,//1 5/.7//$ .-/ /))/ $1 589/ :)):7; )) :.-/ ./' $1 :$1+.+:$ &! ! *" # < = > ? # < = > ? # # ## # # #< #= # #> #? + !!(&; 589/; 1; /))/; 1; 589/; 1; /))/; 1; " ; @; * %!" ) 7( . &*! & 3A! /!! 6 $ -% B ! ##B 1((&B .C <# %%%(%(* April 7, 2022 Lewis Place LLC AND/OR Assigns City of Pasco TBD Heritage Blvd, Pasco, WA 99301 Seller agrees to pay Buyer's Broker, Andrew Lybbert with Lybbert Fielding Real Estate, a commission equal to 6% of the gross sales price. Lybbert Fielding Real Estate, 6119 Burden Blvd, Ste C Pasco WA 99301 (509)531-8012 Lewis Place LLC - Andrew Lybbert Seller agrees to sell the Property on the terms and conditions herein, and further agrees to pay a commission in a total amount computed in accordance with the listing or commission agreement. If there is no written listing or commission agreement, Seller agrees to pay a commission of 6 % of the sales price or $ . The commission shall be apportioned between Listing Firm and Selling Firm as specified in the listing or any co-brokerage agreement. If there is no listing or written co-brokerage agreement, then Listing Firm shall pay to Selling Firm a commission of 3 % of the sales price or $ . Seller assigns to Listing Firm and Selling Firm a portion of the sales proceeds equal to the commission. If the earnest money is retained as liquidated damages, any costs advanced or committed by Listing Firm or Selling Firm for Buyer or Seller shall be reimbursed or paid therefrom, and the balance shall be paid one-half to Seller and one-half to Listing Firm and Selling Firm according to the listing agreement and any co-brokerage agreement. Seller and Buyer hereby consent to Listing Firm and Selling Firm receiving compensation from more than one party and irrevocably instruct the Closing Agent to disburse the commission(s) directly to the Firm(s). In any action by Listing Firm or Selling Firm to enforce this Section, the prevailing party is entitled to reasonable attorneys' fees and expenses. Neither Listing Firm nor Selling Firm are receiving compensation from more than one party to this transaction unless disclosed on an attached addendum, in which case Buyer and Seller consent to such compensation. The Property described in attached Exhibit A is commercial real estate. Notwithstanding Section 44 above, the pages containing this Section, the parties' signatures and an attachment describing the Property may be recorded. DocuSign Envelope ID: C72D8CC9-74FE-4EB8-AB60-6F3E2B266BAD 04/30/2022 DocuSign Envelope ID: 9130B688-FE77-44D6-AA28-89D820A7E777 5/2/2022 5/2/2022 Exhibit B DocuSign Envelope ID: C72D8CC9-74FE-4EB8-AB60-6F3E2B266BADDocuSign Envelope ID: 9130B688-FE77-44D6-AA28-89D820A7E777 5/2/2022 Second Amendment To Purchase & Sale Agreement Commercial Brokers Association ALL RIGHTS RESERVED CBA Form PSA | Addendum to PSA Rev. 7/2020 Page |1 1 The following is part of the Purchase and Sale Agreement with Reference Date April 7, 20221between Lewis Place LLC &/or Assigns (“Buyer”) and City of Pasco (“Seller”) regarding the sale of the property located at Franklin Tax Parcel 113.900.092 City of Pasco, Franklin County, Washington (the “Property”). IT IS AGREED BETWEEN THE BUYER AND SELLER AS FOLLOWS: 1.Offer is subject to Pasco City Council’s formal approval to surplus subject property as well as Council’s approval of this contract. 2.Site not allowed to be developed for a residential use. 3.The Purchaser acknowledges that the purchase price and consideration given by City are related to the City's goals of economic development and lost opportunities for development would arise if Purchaser fails to begin construction of the anticipated development. 4.Unless the failure to commence construction is related to the items identified in Warranties Section, below, if the Purchaser fails to submit an application to City for approval of a site plan and building plans consistent with subsection (a) above, within thirty-six (36) months of Closing, the City reserves the right to reclaim title to this Property. If the Purchaser does not initiate construction within forty-eight (48) months of Closing, City reserves the right to reclaim title to this Property. The City shall reclaim this Property by refunding 90% of the original Purchase Price as determined in Paragraph 5 of PSA. The City will not assume any liability for expenses incurred by Purchaser in conducting this transaction. Purchaser agrees to re-convey title to the City within sixty (60) days of receipt of notification of City's decision to seek reconveyance of Property. This reversionary right is exclusive to the City and shall be exercised at the sole discretion of the City. 5.This reversionary right survives sixty (60) months after closing or until such time as building commences, whichever is earlier. The City shall be under no obligation to exercise this reversionary right. This reversionary clause shall survive the delivery of the Deed, but shall automatically lapse upon expiration of the time periods herein and City shall execute such further documents as Purchaser shall request to release same. Warranties; Indemnity. City makes the following representations and warranties, which shall be deemed remade as of the closing date: 1.The Property and improvements are not in violation of any applicable covenant, condition or restriction or any applicable statute, ordinance, regulation, order, permit, rule or law, including, without limitation, any building, private restriction, zoning or environmental restriction. 2.Other than the obligations of record, there are no obligations in connection with the Property, which will be binding upon Purchaser after closing other than liability for the payment of real estate taxes and utility charges. 3.There are no claims, actions, suits or governmental investigations or proceedings existing or, to the best of City's knowledge, threatened against or involving City or the Property (including, without limitation, any condemnation or eminent domain proceeding or matter related to the formation of or assessment by a local improvement district) and City has received no written notice thereof. 4.All insurance policies now maintained on the Property will be kept in effect, up to and including the closing. City has received no notice from any insurance company or rating organization of any defects in the condition of the Property or of the existence of conditions which would prevent the continuation of existing coverage or would increase the present rate of premium. 5.There are no leases affecting the Property. 6.All such representations and warranties shall be reaffirmed by City as true and correct as of the Closing Date and shall survive the Closing for a period of two (2) years. If, prior to closing, City becomes aware of any fact or circumstance which would change a representation or warranty, then City will immediately give notice of such changed fact or circumstance to Purchaser, but such notice shall not relieve the City of its obligations hereunder. Buyer Date Buyer Date Seller Date Seller Date DocuSign Envelope ID: C72D8CC9-74FE-4EB8-AB60-6F3E2B266BAD 04/30/2022 DocuSign Envelope ID: 9130B688-FE77-44D6-AA28-89D820A7E777 5/2/2022