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HomeMy WebLinkAbout3860 Resolution RESOLUTION NO. „30&O A RESOLUTION of the City of Pasco,Washington, approving the sale of certain real property on"A" Street. WHEREAS, the City owns vacant real property located at "A" Street and 1s` Avenue which is surplus to City needs; and WHEREAS, the City has listed the property for sale and obtained a Market Analysis of the value of the property through its Real Estate Broker; and WHEREAS,the City Council finds as follows: 1. That the proposed purchase price of$43,604 is in line with the Market Analysis value of the property; and 2. That the benefits to be derived from the sale of the property, demonstrate a value in excess of the value of continued ownership/maintenance by the City. NOW, THEREFORE, THE CITY COUNCIL OF THE CITY OF PASCO, WASHINGTON,DOES RESOLVE AS FOLLOWS: Section 1. That the City sale of certain real property consisting of.28 acres to Lucio G. Mendoza Chavez and Marina Infante Zuniga, according to the terms as described in the Purchase and Sale Agreement, attached hereto as Exhibit A, is hereby approved. Section 2. That the City Manager is hereby authorized to execute all documents necessary to effect the sale of the property in accordance with the Purchase and Sale Agreement. PASSED by the City Council of the City of Pasco at a regular meeting this 17th day of September,2018. Matt Watkins, Mayor ATTEST: It 4 . A , 4 , ,�_. di Daniela Erickson, City ler Leland B. Kerr, City Attorney Offer Summary 4SVN RETTCP COMPANY Property Address: nka A Street, Pasco, WA Buyer: Lucio G. Mendoza Chavez & Marina Infante Zuniga Buyer's Broker: Dina Camacho I Professional Realty Services Offer Price: $43.604 Estimated Ned Proceeds: $39,031 Method of Payment: Cash Financial Institution: NA Earnest Money Amount: $1.000 Earnest Money Due: 3 Days From Mutual Acceptance Due Diligence: 0 Days Other Contingencies: None Proposed Closing Date: 9.28.18 or sooner Rob Ellsworth I CCIM Managing roker 509.430.2378 Estimated Net Proceeds I nka A Street Offer Ihh SVN Sate Amount $ 43,604 Escrow Fee $ 325 Title Insurance $ 630 Recording $ 150 Sales Tax $ 76 Excise Tax $ 776 1.78% Brokerage $ 2,616 6% Other $ 0 Other $ 0 Total Closing Costs $ 4,573 Pre-Payoff Proceeds $ 39,031 DocuSign Envelope ID:0CA6122D-A452-4D53-94AC-0113C50A66B8 Form 25 I�Copynght 2017 Vacant Land Purchase 8 Sale VACANT LAND PURCHASE AND SALE AGREEMENT Northwest Multiple Listing Service Rev.2/17 ALL RIGHTS RESERVED Page 1 of 5 SPECIFIC TERMS 1. Date: September 10, 2018 MLS No.: 232371 Offer Expiration Date: September 11, 2018 2. Buyer: Lucio G. Mendoza Chavez, Marina Infante Zuniga BUyer Buyer Status 3. Seller: City of Pasco Seller Satter 4. Property: Legal Description attached as Exhibit A.Tax Parcel No(s).: 112.060.323 . nka A Street, Pasco, WA 99301 Address Cay State is 5. Purchase Price: $43604.00 Cash Dollars 6. Earnest Money: $1,000.00 ®Check; 0 Note; 0 Other (held by 0 Selling Firm; ®Closing Agent) 7. Default:(check only one)®Forfeiture of Earnest Money; 0 Seller's Election of Remedies PA l iTL 40,12r-- 8. Title Insurance Company: ?5BA/TOAI iC&./� E 9. Closing Agent: S BLrNToAJ 62AN/rFPAJi a en—Atava-rx-o JANA/iir£& J f. Company V IndMUual(opM1enali 10. Closing Date: September 28, 2018 ; Possession Date: on Closing:❑Other 11. Services of Closing Agent for Payment of Utilities: On Requested(attach NWMLS Form 22K); 0 Waived 12. Charges/Assessments Levied Before but D fter Closing:❑assumed by Buyer: ®prepaid in full by Seller at Closing 13. Seller Citizenship(FIRPTA): Seller()isA i not a foreign person for purposes of U.S.income taxation 14. Subdivision: The Property ❑must be subdivided before ; 0 is not required to be subdivided 15. Feasibility Contingency Expiration Date: ® 0 days after mutual acceptance;❑Other 16. Agency Disclosure: Selling Broker represents: ®Buyer; 0 Seller: 0 both parties; ❑neither party Listing Broker represents: ®Seller: ❑both parties 17. Addenda: i—DocuSienedby- tutie G �4Maa.it.h.�l6A,it 0A.404",0t�i 09/10/2018 p—�t—ig' Buyers etre nn�apyy0to G. M.z dolcir aMEI int Date Seller's Signature City asco Date kart A.A. 141%141.04,01/A0 1 8 Buyers Signature marina Infanta-tramiga usx Date Sellers Dale . 3 KO Aux ! 7'... Boy 2.73 Buyers Address Sellers Address 174540 i Gc14 9930/ Ci .State.Zip _ City.State.Zip SSS• Y '� • 1 �5 � (� S - ssf3 -S'?Go 3 ei Phone No. Fax NO Phone No. Fax No SritaBet-3 "1Mjc.c wA .as Bu��jjers Ea it Address /„ �>7 Sellers E-mail Address 1'I'). S�ig7 4eJ' (d'*'� -�(��L-C�-_) SVN Ratter s Company 59 Selling Firm Rai., MIS Office No. Listing Firm MLS Office No -,, ,• (A �+ r'-‘4C, Rob Ellsworth 323 Salting Broker(Print) MLS LAG No Listing Broker(Print) MLS LAG No. 3 h 3.-`- SS Sc..e 5 A)r 3c r-YS'f 6 (S09)737-9429 (509)430-2378 Firm Phone No. 81r*ar Phone No. Firm Fax No. Firm Phone No Broker Phone No Firm Fax No. /7C'-/fl r�'�)041/91 36:,l14•1/4. (C .'+n contracts@resothebysrealty.com Sailing Firm Document E-mail Address Listing Firm Document E-mail Address rf C:-�s'fQt /S c*:tni 2;G et( j+'t�t+t I. lr"� rob@robellsworth.com Selling Brokers E-mail Address Listing Brokers E-mail Address Selling Broker DOL License No. Selling Firm DOL License No. Listing Broker IDOL License No. Listing Firm IDOL License No Professional Reality Services.7601 W.Clearwater Ave Suite 430 Kennewick WA 94336 Plume:509102,11tR0 Fax: Dina Canlacho Lucre G.%tendorn Producer with ripFanrrt)by sipLogix 18070 Fifteen Mie Road.Fraser.Mktwyan 48026 wow newly,torn DocuSign Envelope ID:OCA6122D-A452-4D53-94AC-0113C50A66B8 Form 25 'DCopynghl 2017 Vacant Land Purchase 8 Sale VACANT LAND PURCHASE AND SALE AGREEMENT Northwest Multiple Listing Service Rev.2/17 ALL RIGHTS RESERVED Page 2 of 5 GENERAL TERMS Continued a. Purchase Price. Buyer shall pay to Seller the Purchase Price, including the Earnest Money, in cash at Closing, unless 1 otherwise specified in this Agreement. Buyer represents that Buyer has sufficient funds to close this sale in accordance 2 with this Agreement and is not relying on any contingent source of funds, including funds from loans, the sale of other 3 property,gifts,retirement,or future earnings,except to the extent otherwise specified in this Agreement. 4 b. Earnest Money. Buyer shall deliver the Earnest Money within 2 days after mutual acceptance to Selling Broker or to 5 Closing Agent. If Buyer delivers the Earnest Money to Selling Broker, Selling Broker will deposit any check to be held by 6 Selling Firm. or deliver any Earnest Money to be held by Closing Agent, within 3 days of receipt or mutual acceptance, 7 whichever occurs later. If the Earnest Money is held by Selling Firm and is over$10,000.00 it shall be deposited into an 8 interest bearing trust account in Selling Firm's name provided that Buyer completes an IRS Form W-9. Interest, if any, 9 after deduction of bank charges and fees, will be paid to Buyer. Buyer shall reimburse Selling Firm for bank charges 10 and fees in excess of the interest earned, if any. If the Earnest Money held by Selling Firm is over $10,000.00 Buyer 11 has the option to require Selling Firm to deposit the Earnest Money into the Housing Trust Fund Account, with the 12 interest paid to the State Treasurer, if both Seller and Buyer so agree in writing. If the Buyer does not complete an IRS 13 Form W-9 before Selling Firm must deposit the Earnest Money or the Earnest Money is $10,000.00 or less. the Earnest 14 Money shall be deposited into the Housing Trust Fund Account. Selling Firm may transfer the Earnest Money to Closing 15 Agent at Closing. If all or part of the Earnest Money is to be refunded to Buyer and any such costs remain unpaid, the 16 Selling Firm or Closing Agent may deduct and pay them therefrom. The parties instruct Closing Agent to provide written 17 verification of receipt of the Earnest Money and notice of dishonor of any check to the parties and Brokers at the 18 addresses and/or fax numbers provided herein. 19 Upon termination of this Agreement, a party or the Closing Agent may deliver a form authorizing the release of Earnest 20 Money to the other party or the parties. The party(s)shall execute such form and deliver the same to the Closing Agent. 21 If either party fails to execute the release form, a party may make a written demand to the Closing Agent for the Earnest 22 Money. Pursuant to RCW 64.04. Closing Agent shall deliver notice of the demand to the other party within 15 days. If 23 the other party does not object to the demand within 20 days of Closing Agent's notice. Closing Agent shall disburse the 24 Earnest Money to the party making the demand within 10 days of the expiration of the 20 day period. If Closing Agent 25 timely receives an objection or an inconsistent demand from the other party. Closing Agent shall commence an 26 interpleader action within 60 days of such objection or inconsistent demand, unless the parties provide subsequent 27 consistent instructions to Closing Agent to disburse the earnest money or refrain from commencing an interpleader 28 action for a specified period of time. Pursuant to RCW 4.28.080, the parties consent to service of the summons and 29 complaint for an interpleader action by first class mail, postage prepaid at the party's usual mailing address or the 30 address identified in this Agreement. If the Closing Agent complies with the preceding process, each party shall be 31 deemed to have released Closing Agent from any and all claims or liability related to the disbursal of the Earnest 32 Money. If either party fails to authorize the release of the Earnest Money to the other party when required to do so 33 under this Agreement, that party shall be in breach of this Agreement. For the purposes of this section, the term Closing 34 Agent includes a Selling Firm holding the Earnest Money. The parties authorize the party commencing an interpleader 35 action to deduct up to$500.00 for the costs thereof. 36 c. Condition of Title. Unless otherwise specified in this Agreement, title to the Property shall be marketable at Closing. 37 The following shall not cause the title to be unmarketable: rights, reservations, covenants, conditions and restrictions. 38 presently of record and general to the area; easements and encroachments, not materially affecting the value of or 39 unduly interfering with Buyers 'reasonable use of the Property: and reserved oil and/or mining rights. Monetary 40 encumbrances or liens not assumed by Buyer, shall be paid or discharged by Seller on or before Closing. Title shall be 41 conveyed by a Statutory Warranty Deed. If this Agreement is for conveyance of a buyer's interest in a Real Estate 42 Contract, the Statutory Warranty Deed shall include a buyer's assignment of the contract sufficient to convey after 43 acquired title.If the Property has been short platted,the Short Plat number is in the Legal Description. 44 d. Title Insurance. Seller authonzes Buyer's lender or Closing Agent, at Seller's expense, to apply for the then-current 45 ALTA form of standard form owner's policy of title insurance from the Title Insurance Company. If Seller previously 46 received a preliminary commitment from a Title Insurance Company that Buyer declines to use. Buyer shall pay any 47 cancellation fees owing to the original Title Insurance Company. Otherwise, the party applying for title insurance shall 48 pay any title cancellation fee, in the event such a fee is assessed. The Title Insurance Company shall send a copy of 49 the preliminary commitment to Seller, Listing Broker, Buyer and Selling Broker, The preliminary commitment, and the 50 title policy to be issued, shall contain no exceptions other than the General Exclusions and Exceptions in said standard 51 form and Special Exceptions consistent with the Condition of Title herein provided. If title cannot be made so insurable 52 prior to the Closing Date, then as Buyer's sole and exclusive remedy, the Earnest Money shall, unless Buyer elects to 53 waive such defects or encumbrances. be refunded to the Buyer, less any unpaid costs described in the Agreement. and 54 this Agreement shall thereupon be terminated. Buyer shall have no right to specific performance or damages as a 55 consequence of Seller's inability to provide insurable title. 56 e. Closing and Possession. This sale shall be closed by the Closing Agent on the Closing Date. "Closing" means the 57 date on which all documents are recorded and the sale proceeds are available to Seller. If the Closing Date falls on a 58 Satur y.L6unday, legal holiday_-.so�efined in RCW 1.16.050. or day when the county recording office is closed, the 59 Closing twat hall close the trpn tign on the next day that is not a S. rday, Sunday, legal holiday, or day when the 60 f" lam'"L G ri 09/10/2018 " 09/10/2018 ,;fid, q-a-4r Buyer's Initials Date Buyer's Initials Date Sells • Int ials Date Seller's Initials Date arodoced with zlpFo n 5 by ztpLogra 18070 F,Neon Mde Road.Fraser,Mlchgan 88026 1e Aw.zl➢(o511H com I.uc II)(I.11l'1idtl1Ya DocuSign Envelope ID:0CA6122D-A452-4D53-94AC-0113C50A6688 Form 25 ' opynght2017 Vacant Land Purchase 8 Sale VACANT LAND PURCHASE AND SALE AGREEMENT Northwest Multiple Listing Service Rev.2/17 ALL RIGHTS RESERVED Page 3 of 5 GENERAL TERMS Continued county recording office is closed. Buyer shall be entitled to possession at 9:00 p.m. on the Possession Date. Seller shall 61 maintain the Property in its present condition, normal wear and tear excepted, until the Buyer is entitled to possession. 62 Buyer reserves the right to walk through the Property within 5 days of Closing to verify that Seller has maintained the 63 Property as required by this paragraph. Seller shall not enter into or modify existing leases or rental agreements. 64 service contracts, or other agreements affecting the Property which have terms extending beyond Closing without first 65 obtaining Buyer's consent,which shall not be unreasonably withheld. 66 f. Section 1031 Like-Kind Exchange. It either Buyer or Seller intends for this transaction to be a part of a Section 1031 67 like-kind exchange, then the other party shall cooperate in the completion of the like-kind exchange so long as the 68 cooperating party incurs no additional liability in doing so, and so long as any expenses (including attorneys' fees and 69 costs) incurred by the cooperating party that are related only to the exchange are paid or reimbursed to the cooperating 70 party at or prior to Closing. Notwithstanding the Assignment paragraph of this Agreement. any party completing a 71 Section 1031 like-kind exchange may assign this Agreement to its qualified intermediary or any entity set up for the 72 purposes of completing a reverse exchange. 73 g. Closing Costs and Prorations and Charges and Assessments. Seller and Buyer shall each pay one-half of the 74 escrow fee unless otherwise required by applicable FHA or VA regulations. Taxes for the current year. rent, interest. 75 and lienable homeowner's association dues shall be prorated as of Closing. Buyer shall pay Buyer's loan costs, 76 including credit report, appraisal charge and lender's title insurance, unless provided otherwise in this Agreement. If any 77 payments are delinquent on encumbrances which will remain after Closing. Closing Agent is instructed to pay such 78 delinquencies at Closing from money due, or to be paid by, Seller. Buyer shall pay for remaining fuel in the fuel tank if, 79 prior to Closing, Seller obtains a written statement from the supplier as to the quantity and current price and provides 80 such statement to the Closing Agent. Seller shall pay all utility charges, including unbilled charges. Unless waived in 81 Specific Term No. 11, Seller and Buyer request the services of Closing Agent in disbursing funds necessary to satisfy 82 unpaid utility charges in accordance with RCW 60.80 and Seller shall provide the names and addresses of all utilities 83 providing service to the Property and having lien rights (attach NWMLS Form 22K Identification of Utilities or 84 equivalent). 85 Buyer is advised to verify the existence and amount of any local improvement district, capacity or impact charges or 86 other assessments that may be charged against the Property before or after Closing. Seller will pay such charges that 87 are or become due on or before Closing. Charges levied before Closing, but becoming due after Closing shall be paid 88 as agreed in Specific Term No.12. 89 h. Sale Information. Listing Broker and Selling Broker are authonzed to report this Agreement (including price and all 90 terms)to the Multiple Listing Service that published it and to its members, financing institutions, appraisers. and anyone 91 else related to this sale. Buyer and Seller expressly authorize all Closing Agents, appraisers, title insurance companies, 92 and others related to this Sale, to furnish the Listing Broker and/or Selling Broker, on request, any and all information 93 and copies of documents concerning this sale. 94 Seller Citizenship and FIRPTA. Seller warrants that the identification of Seller's citizenship status for purposes of U.S. 95 income taxation in Specific Term No. 13 is correct. Seller shall execute a certification (NWMLS Form 22E or equivalent) 96 under the Foreign Investment In Real Property Tax Act ("FIRPTA")at Closing and provide the certification to the Closing 97 Agent. If Seller is a foreign person for purposes of U.S. income taxation, and this transaction is not otherwise exempt 98 from FIRPTA,Closing Agent is instructed to withhold and pay the required amount to the Internal Revenue Service. 99 J. Notices and Delivery of Documents. Any notice related to this Agreement (including revocations of offers or 100 counteroffers) must be in writing. Notices to Seller must be signed by at least one Buyer and shall be deemed delivered 101 only when the notice is received by Seller, by Listing Broker. or at the licensed office of Listing Broker. Notices to Buyer 102 must be signed by at least one Seller and shall be deemed delivered only when the notice is received by Buyer, by 103 Selling Broker, or at the licensed office of Selling Broker. Documents related to this Agreement, such as NWMLS Form 104 17C, Information on Lead-Based Paint and Lead-Based Paint Hazards. Public Offering Statement or Resale Certificate, 105 and all other documents shall be delivered pursuant to this paragraph. Buyer and Seller must keep Selling Broker and 106 Listing Broker advised of their whereabouts in order to receive prompt notification of receipt of a notice. 107 Facsimile transmission of any notice or document shall constitute delivery. E-mail transmission of any notice or 108 document(or a direct link to such notice or document)shall constitute delivery when. (i)the e-mail is sent to both Selling 109 Broker and Selling Firm or both Listing Broker and Listing Firm at the e-mail addresses specified on page one of this 110 Agreement; or (ii) Selling Broker or Listing Broker provide written acknowledgment of receipt of the e-mail (an automatic 111 e-mail reply does not constitute written acknowledgment). At the request of either party, or the Closing Agent, the 112 parties will confirm facsimile or e-mail transmitted signatures by signing an original document. 113 k. Computation of Time. Unless otherwise specified in this Agreement, any penod of time measured in days and stated 114 in this Agreement shall start on the day following the event commencing the period and shall expire at 9:00 p.m. of the 115 last calendar day of the specified period of time. Except for the Possession Date, if the last day is a Saturday, Sunday 116 or teal holiday as defined ir)_I3PN 1.16.050, the specified period of time shall expire on the next day that is not a 117 EaEu y/Sunday or legal hplidar,i}1ny specified period of 5 ys r less. except for any time period relating to the 118 (,[��(, 09/10/2018` f�L1G 09/10/2018 Buyer's Initials Dale Buyer's Initials Date Se er's Initials Date Seller's Initials Dale Produced wen ziorarm<)oy zipLogys 111070 Gsilaan Milo Road Fraser l.Lchgan 48026 yww"n1ogns trim hick,(, M1leitdt,n DocuSign Envelope ID:OCA6122D-A452-4D53-94AC-0113C50A66B8 Form 25 ©Copyright 2017 Vacant Land Purchase 8 Sale VACANT LAND PURCHASE AND SALE AGREEMENT Northwest Multiple Listing Service Rev.2117 ALL RIGHTS RESERVED Page 4 of 5 GENERAL TERMS Continued Possesion Date, shall not include Saturdays. Sundays or legal holidays. If the parties agree that an event will occur on a 119 specific calendar date, the event shall occur on that date, except for the Closing Date, which, if it falls on a Saturday, 120 Sunday. legal holiday as defined in RCW 1.16.050, or day when the county recording office is closed, shall occur on the 121 next day that is not a Saturday. Sunday, legal holiday, or day when the county recording office is closed. If the parties 122 agree upon and attach a legal description after this Agreement is signed by the offeree and delivered to the offeror, then 123 for the purposes of computing time. mutual acceptance shall be deemed to be on the date of delivery of an accepted 124 offer or counteroffer to the offeror. rather than on the date the legal description is attached. Time is of the essence of 125 this Agreement. 126 I. Integration and Electronic Signatures.This Agreement constitutes the entire understanding between the parties and 127 supersedes all pnor or contemporaneous understandings and representations. No modification of this Agreement shall 128 be effective unless agreed in writing and signed by Buyer and Seller. The parties acknowledge that a signature in 129 electronic form has the same legal effect and validity as a handwritten signature. 130 m. Assignment. Buyer may not assign this Agreement, or Buyer's rights hereunder, without Seller's prior written consent, 131 unless the parties indicate that assignment is permitted by the addition of "and/or assigns" on the line identifying the 132 Buyer on the first page of this Agreement. 133 n. Default. In the event Buyer fails, without legal excuse, to complete the purchase of the Property, then the following 134 provision,as identified in Specific Term No,7,shall apply: 135 i. Forfeiture of Earnest Money. That portion of the Earnest Money that does not exceed five percent (5%) of the 136 Purchase Price shall be forfeited to the Seller as the sole and exclusive remedy available to Seller for such failure. 137 ii. Seller's Election of Remedies. Seller may, at Seller's option, (a) keep the Earnest Money as liquidated damages 138 as the sole and exclusive remedy available to Seller for such failure, (b) bring suit against Buyer for Seller's actual 139 damages, (c) bring suit to specifically enforce this Agreement and recover any incidental damages, or (d) pursue 140 any other rights or remedies available at law or equity. 141 o. Professional Advice and Attorneys'Fees. Buyer and Seller are advised to seek the counsel of an attorney and a 142 certified public accountant to review the terms of this Agreement. Buyer and Seller shall pay their own fees incurred for 143 such review. However. if Buyer or Seller institutes suit against the other concerning this Agreement the prevailing party 144 is entitled to reasonable attorneys'fees and expenses. 145 p. Offer. Buyer shall purchase the Property under the terms and conditions of this Agreement. Seller shall have until 9:00 146 p.m. on the Offer Expiration Date to accept this offer, unless sooner withdrawn. Acceptance shall not be effective until a 147 signed copy is received by Buyer. by Selling Broker or at the licensed office of Selling Broker. If this offer is not so 148 accepted,it shall lapse and any Earnest Money shall be refunded to Buyer. 149 q. Counteroffer. Any change in the terms presented in an offer or counteroffer, other than the insertion of or change to 150 Seller's name and Seller's warranty of citizenship status, shall be considered a counteroffer. If a party makes a 151 counteroffer. then the other party shall have until 9:00 p.m. on the counteroffer expiration date to accept that 152 counteroffer, unless sooner withdrawn. Acceptance shall riot be effective until a signed copy is received by the other 153 party, the other party's broker. or at the licensed office of the other party's broker. If the counteroffer is not so accepted, 154 it shall lapse and any Earnest Money shall be refunded to Buyer. 155 r. Offer and Counteroffer Expiration Date. If no expiration date is specified for an offer/counteroffer, the 156 offer/counteroffer shall expire 2 days after the offer/counteroffer is delivered by the party making the offer/counteroffer, 157 unless sooner withdrawn. 158 s. Agency Disclosure. Selling Firm, Selling Firm's Designated Broker, Selling Broker's Branch Manager (if any) and 159 Selling Broker's Managing Broker (if any) represent the same party that Selling Broker represents. Listing Firm, Listing 160 Firm's Designated Broker. Listing Broker's Branch Manager (if any), and Listing Broker's Managing Broker (if any) 161 represent the same party that the Listing Broker represents. If Selling Broker and Listing Broker are different persons 162 affiliated with the same Firm. then both Buyer and Seller confirm their consent to Designated Broker, Branch Manager 163 (if any), and Managing Broker (if any) representing both parties as dual agents. If Selling Broker and Listing Broker are 164 the same person representing both parties then both Buyer and Seller confirm their consent to that person and his/her 165 Designated Broker, Branch Manager (if any), and Managing Broker (if any) representing both parties as dual agents. All 166 parties acknowledge receipt of the pamphlet entitled"The Law of Real Estate Agency." 167 t. Commission. Seller and Buyer shall pay a commission in accordance with any listing or commission agreement to 168 which they are a party. The Listing Firm's commission shall be apportioned between Listing Firm and Selling Firm as 169 specified in the listing. Seller and Buyer hereby consent to Listing Firm or Selling Firm receiving compensation from 170 more than one party. Seller and Buyer hereby assign to Listing Firm and Selling Firm. as applicable, a portion of their 171 funds in escrow equal to such commission(s) and irrevocably instruct the Closing Agent to disburse the commission(s) 172 dicey to the Firm(s). In any by Listing or Selling Firm to enforce this paragraph, the prevailing party is entitled to 173 VAL 09/10/2018 09/10/2018 e'el ?-!h!t Buyer's initials Date Buyer's Initials Date Sell:: s Is Date Sellers Initials Date vr,xru,:.:xi w,in)tprom,r:by/Apt bo18070 Frnearr KW Road.Fraser.Michgian 48025 Amoy rwoLouix cam t.u.io(,.Mentluca DocuSign Envelope ID:0CA6122D-A452-4D53-94AC-0113C50A66B8 Form 25 ?7Copynght 2017 Vacant Land Purchase&Sale VACANT LAND PURCHASE AND SALE AGREEMENT Northwest Multiple Listing Service Rev.2/17 ALL RIGHTS RESERVED Page 5 of 5 GENERAL TERMS Continued court costs and reasonable attorneys' fees. Seller and Buyer agree that the Firms are intended third party beneficiaries 174 under this Agreement. 175 u. Feasibility Contingency. It is the Buyer's responsibility to verify before the Feasibility Contingency Expiration Date 176 identified in Specific Term No.15 whether or not the Property can be platted, developed and/or built on (now or in the 177 future)and what it will cost to do this. Buyer should not rely on any oral statements concerning this made by the Seller. 178 Listing Broker or Selling Broker. Buyer should inquire at the city or county, and water, sewer or other special districts in 179 which the Property is located. Buyer's inquiry should include, but not be limited to: building or development moratoriums 180 applicable to or being considered for the Property; any special building requirements, including setbacks, height limits or 181 restrictions on where buildings may be constructed on the Property: whether the Property is affected by a flood zone, 182 wetlands, shorelands or other environmentally sensitive area: road, school, fire and any other growth mitigation or 183 impact fees that must be paid; the procedure and length of time necessary to obtain plat approval and/or a building 184 permit: sufficient water, sewer and utility and any service connection charges; and all other charges that must be paid. 185 Buyer and Buyer's agents, representatives, consultants, architects and engineers shall have the right, from time to time 186 during and after the feasibility contingency, to enter onto the Property and to conduct any tests or studies that Buyer 187 may need to ascertain the condition and suitability of the Property for Buyer's intended purpose. Buyer shall restore the 188 Property and all improvements on the Property to the same condition they were in prior to the inspection. Buyer shall be 189 responsible for all damages resulting from any inspection of the Property performed on Buyer's behalf. If the Buyer does 190 not give notice to the contrary on or before the Feasibility Contingency Expiration Date identified in Specific Term No. 191 15, it shall be conclusively deemed that Buyer is satisfied as to development and/or construction feasibility and cost. If 192 Buyer gives notice this Agreement shall terminate and the Earnest Money shall be refunded to Buyer, less any unpaid 193 costs. 194 Seller shall cooperate with Buyer in obtaining permits or other approvals Buyer may reasonably require for Buyer's 195 intended use of the Property;provided that Seller shall not be required to incur any liability or expenses in doing so. 196 v. Subdivision. If the Property must be subdivided, Seller represents that there has been preliminary plat approval for the 197 Property and this Agreement is conditioned on the recording of the final plat containing the Property on or before the 198 date specified in Specific Term No. 14. If the final plat is not recorded by such date. this Agreement shall terminate and 199 the Earnest Money shall be refunded to Buyer. 200 w. Information Verification Period. Buyer shall have 10 days after mutual acceptance to verify all information provided 201 from Seller or Listing Firm related to the Property. This contingency shall be deemed satisfied unless Buyer gives notice 202 identifying the materially inaccurate information within 10 days of mutual acceptance. If Buyer gives timely notice under 203 this section.then this Agreement shall terminate and the Earnest Money shall be refunded to Buyer. 204 x. Property Condition Disclaimer. Buyer and Seller agree, that except as provided in this Agreement. all representations 205 and information regarding the Property and the transaction are solely from the Seller or Buyer, and not from any Broker. 206 The parties acknowledge that the Brokers are not responsible for assuring that the parties perform their obligations 207 under this Agreement and that none of the Brokers has agreed to independently investigate or confirm any matter 208 related to this transaction except as stated in this Agreement, or in a separate writing signed by such Broker. In 209 addition. Brokers do not guarantee the value, quality or condition of the Property and some properties may contain 210 building materials. including siding, roofing, ceiling, insulation, electrical, and plumbing, that have been the subject of 211 lawsuits and/or governmental inquiry because of possible defects or health hazards. Some properties may have other 212 defects arising after construction, such as drainage, leakage, pest, rot and mold problems. Brokers do not have the 213 expertise to identify or assess defective products, materials, or conditions. Buyer is urged to use due diligence to 214 inspect the Property to Buyer's satisfaction and to retain inspectors qualified to identify the presence of defective 215 materials and evaluate the condition of the Property as there may be defects that may only be revealed by careful 216 inspection. Buyer is advised to investigate whether there is a sufficient water supply to meet Buyer's needs. Buyer is 217 advised to investigate the cost of insurance for the Property, including, but not limited to homeowners, flood. 218 earthquake, landslide, and other available coverage. Brokers may assist the parties with locating and selecting third 219 party service providers, such as inspectors or contractors. but Brokers cannot guarantee or be responsible for the 220 services provided by those third parties. The parties shall exercise their own judgment and due diligence regarding 221 third-party service providers. 222 (—Os I 114.4 09/10/2018 ' 09/10/2018 �•�� Buyer's Initials Date Buyer's initials Date Se -r's ialsDate Seller's Initials Date St v'Oattll.i Produced wlfh npFnm {p by z,pLos 18070 Fdieen 1.1410 !eMOW;Road Fraser,Madigan 48076 ^N.710i dx c{In, t.Ili Irr 1 i. DocuSign Envelope ID:OCA6122D-A452-4D53-94AC-0113C50A66B8 Form 22T ©Copyright 2015 Title Contingency Addendum Northwest Multiple Listing Service Rev 7115 ALL RIGHTS RESERVED Page 1 of 1 TITLE CONTINGENCY ADDENDUM TO PURCHASE &SALE AGREEMENT The following is part of the Purchase and Sale Agreement dated September 10, 2018 1 between Lucio G. Mendoza Chavez, Marina Infante Zuniga ("Buyer") 2 Buyer Buyer and City of Pasco ("Seller") 3 Seller SeNer concerning nka A Street, Pasco, WA 99301 (the"Property"). 4 Address City State Zip 1. Title Contingency. This Agreement is subject to Buyer's review of a preliminary commitment for title insurance. 5 together with any easements,covenants, conditions and restrictions of record. Buyer shall have 5 6 days(5 days if not filled in)from❑the date of Buyer's receipt of the preliminary commitment for title insurance; 7 or ❑mutual acceptance (from the date of Buyer's receipt. if neither box checked) to give notice of Buyer's 8 disapproval of exceptions contained in the preliminary commitment. 9 Seller shall have 5 days (5 days if not filled in) after Buyer's notice of disapproval to give Buyer 10 notice that Seller will clear all disapproved exceptions. Seller shall have until the Closing Date to clear all 11 disapproved exceptions. 12 If Seller does not give timely notice that Seller will clear all disapproved exceptions. Buyer may terminate this 13 Agreement within 3 days after the deadline for Seller's notice. In the event Buyer elects to terminate the 14 Agreement, the Earnest Money shall be returned to Buyer. If Buyer does not timely terminate the Agreement, 15 Buyer shall be deemed to have waived all objections to title,which Seller did not agree to clear. 16 2. Supplemental Title Reports. If supplemental title reports disclose new exception(s) to the title commitment, 17 then the above time periods and procedures for notice, correction, and termination for those new exceptions 18 shall apply to the date of Buyer's receipt of the supplemental title report. The Closing date shall be extended as 19 necessary to accommodate the foregoing times for notices. 20 3. Marketable Title. This Addendum does not relieve Seller of the obligation to provide marketable title at Closing 21 as provided for in the Agreement. 22 • ns .—os LkL , 09/10/2018 le 10 ► 9 y1-J� Buyer's Initials Date Buyer's Initials Date S'Her's rntials Date Seller's Initials Date Prole urinal Reality Scrvrccs.7.6111 V. (*learn ate(Avc SUM:4311 Kennewick WA 04336 Phonc.511'>3024/Rtl Fax. DinaCamacho Luc in(i.Mcndoza Produced with zipForrat by ziplogix 18070 Fifteen Mile Road.Fraser.Michigan 48026 www zioLoaix.core DocuSign Envelope ID:OCA6122D-A452-4053-94AC-0113C50A66B8 Form 31 JCopynght 2010 Earnest Money Promissory Note Northwest Multiple Listing Service Rev.7110 ALL RIGHTS RESERVED Page 1 of 1 EARNEST MONEY PROMISSORY NOTE nka A Street $ Pasco . Washington 1 Lucio G. Mendoza Chavez, Marina Infante FOR VALUE RECEIVED, Zuniga ("Buyer") 2 agree(s)to pay to the order of Ticor Title (Selling Firm or Closing Agent) 3 the sum of One Thousand Dollars 4 ($1,000.00 ),as follows: 5 within 3 days following mutual acceptance of the Purchase and Sale Agreement. 6 ` . 7 This Note is evidence of the obligation to pay Earnest Money under a real estate Purchase and 8 Sale Agreement between the Buyer and City of Pasco ("Seller") 9 dated September 10, 2018 . Buyer's failure to pay the Earnest Money 10 strictly as above shall constitute default on said Purchase and Sale Agreement as well as on this Note. 11 If this Note shall be placed in the hands of an attorney for collection,or if suit shall be brought to collect 12 any of the balance due on this Note, the Buyer promises to pay reasonable attorneys' fees. and all 13 court and collection costs. 14 Date: 15 DocuSigned by tatio t;. H-t.t tijoAlb. ((A au.tiy BUYER ;, �,Ci_a16 Lucio G. Mendozavez DocuStgned by A aiitAA (I, f tut ft, �zun i�at BUYER , aD$,. ,...�- 17 Marina Infante Zuniga •"On closing"or similar language is not recommended. Use a definite date. 18 Professional Reality Services.7001 W.Clearwater Ave Suite 430 Kennewick WA 00130 Phone.5093024 660 Fax: Dina Cantacha Luno G.Mendota Char ez Produced with zipForrng by zipLogix 18070 Fifteen Mile Road.Fraser,Michigan 48026 yvww.ziDLoatx corn EXHIBIT A Abbreviated Legal: Lot 1, Block 1, Fann's Addition Tax Parcel Number(s): 112-060-323 Lot 1, Block 1, Fann's Addition, according to the Plat thereof recorded in Volume B of Plats, Page 62, records of Franklin County, Washington. SUBJECT TO: Easements, reservations, restrictions, plat dedications, restrictive covenants, of record of or in apparent use, and future municipal district assessments and irrigations district assessments, if any. 1 = � Cr W • • •, • ' ''' �b� — _ x s , A, , S'lS, 6} 'i Yf;� •J 4 r& ', t 4 - gwix - v... J' i ' ,fir x .. - i 1 - 1 , . , - -44,. 3 - _ ,_ 1. . i1 L ..,.1 . 1f }I: 14 „„....,..,,,.. , . „. .. ... , ........ . 14;.,' ,,t:A,tt, : , ,,,,.. ,,,„ ,_ . . , 1i Q 5,r .v 5 `di. tr�. wk..] ' 3AV 021£S =va, � • ` � 4. I