HomeMy WebLinkAbout4313 Resolution - PSA for Right-of-Way Property from Rico RESOLUTION NO. 4313
A RESOLUTION OF THE CITY OF PASCO, WASHINGTON,
AUTHORIZING THE PURCHASE OF REAL PROPERTY LOCATED AT 3932
EAST LEWIS STREET, PASCO, WASHINGTON.
WHEREAS, owners of property located at 3932 East Lewis Street, Pasco, Washington,
have authorized sale of a portion of said property for the amount of sixty-one thousand, five
hundred and sixty-seven dollars ($61,567.00); and
WHEREAS, this purchase is strategic in planning for right-of-way acquisition for the
extension of Road 40 East; and
WHEREAS, the City has reviewed the Purchase and Sale Agreement and all associated
documents; and
WHEREAS, the City has appropriated funding for purchase in the amount of the listing
price.
NOW,THEREFORE,SE IT RESOLVED BY THE CITY COUNCIL OF THE CITY
OF PASCO, WASHINGTON:
That the attached Purchase and Sale Agreement is satisfactory to the goals and budget for
the City of Pasco and the purchase of the subject property is advantageous to the City.
Be It Further Resolved that the Interim Gity Manager is hereby authorized to execute the
Purchase and Sale Agreement attached hereto as Exhibit A; and to make minor substantive
changes necessary to execute the Agreement.
Be It Further Resolved that this Resolution shall take effect and be in full force
immediately upon passage by the City Council.
PASSED by the City Council of the City of Pasco, Washington, on this 21S` day of
Februa
. •,
Blancie Barajas
Mayor
ATTEST: APPROVED AS TO FORM:
� •� ..
c �-
Debra Barham, CMC Kerr F ,on Law, PLLC
City Clerk C:' Attorneys
Resolution-PSA—ROW Property from Rico— 1
DocuSign Envelope ID:337F22B2-7DDD11781-885D-FEACB1F22A68
Commercial &Investment Real Estate Commercial6rokersAswdation
ALLRIGHTS RESERVEO
���� Purchase&Sale Agreement �F°rtn PS'tA�Purthase&Sale Agreement
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SPECIFIC TERMS
Reference Date:July 22. 2022
Offer Expiration Date:August 10.2022 5:OOpm
1. PROPERTY:The Property is legally described on Exhibit A. Address: rioht of way sQction from
3932 E. Lewis Place City of Pasco. Franklin County,Washington.Tax Parcel No[s):113.730.035
Included Personal Property: X None;_If on and used in connection with the Property, per
Section 25 [None, if not completed].
2. BUYER(5�:City of Pa�co
3. SELLER(5):lohn M. Rico
4. PURCHASE PRICE:$61,567
Payable as: X Cash;_Financing [Form P5_FIN attached);_Other
5. EARNEST MONEY:�5.000 Dollars; Held by Closing Agent
Form of Earnest Money: X Check;_Wire Transfer;_Note;_Other
Earnest Money Due Date: X 5 days after Mutual Acceptance;__days after satisfaction
of Feasibility Contingency; or_
6. FEASIBILITY CONTINGENCY DATE: 60 days after Mutual Acceptance
7. CLOSING DATE: on or before tbd
8. CLOSING AGENT:Ticor Title I Patty Sweetwood
9. TITLE INSURANCE COMPANY:Ticor Title
10. DEED: X Statutory Warranty Deed; or_Bargain and Sale Deed
11.POSSESSION: X on closing;_Other:
12.SELLER CITIZENSHIP[FIRPTA]: Seller_is; X is not a foreign person for the purposes of US
income taxation.
13. BUYER'S DEFAULT: X Forfeiture of Earnest Money;_Seller's Election of Remedies
14.SELLER'S DEFAULT: X Recover Earnest Money or Specific Enforcement;_Buyer's Election of
Remedies
15. UNPAID UTILITIES: Buyer and Seller_Don Not Waive [Form UA attached); X Waive
16.AGENCY DISCLOSURE: Selling Broker represents: X Buyer;_Seller;_both parties
Listing Broker represents:_Seller;_both parties
17.EXHIBITS AND ADDENDA.The following Exhibits and Addenda are made a part of this
Agreement:
Earnest Money Promissory Note Back-Up Addendum
11/9/2022
Buyer S� Date. Buyer _ Date -� �l
Seller,.�� Dat���Z..�_ Seller Date `"'�'�
DocuSign Envelope ID:337F22B2-7DDD-4781-885D-FEAC61F22A68
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Blank Promissory Note Vacant Land Addendum
Blank Short Form Deed of Trust Financing Addendum
Blank Deed of Trust Rider Tenant Estoppel Certificate(s)
Utility Charges Addendum Defeasance Addendum
FIRPTA Certification Lead-Based Paint Disclosure
Assignment and Assumption X Exhibit A: Legal Description
Addendum/Amendment X Exhibit B: Additional Terms
18. IDENTIFICATION OF THE PARTIES.The following is the contact information for the parties
involved in this Agreement:
Buyer Seller
Contact: Zach Ratkai Contact: ohn M. Rico
Address: 523 N. 3rd Ave. Address: 15 W 45th Ave.
Pasco, WA 99301 Kennewick, WA 99337
Phone: 509.537.2078 Phone:
Email: ratkaiz�a qasco-wa.gov EmaiL• imr1411�nmail.com
Sellin Firm Listing Firm
Name: SVN I Retter&Com�ny Name: NONE
Listing Broker: Rob Ellsworth_ Selling Broker:
Address: , 329 N. K�llQga�� Address:
Kennewick. WA �933�
Phone: 509.430.2378 Phone:
Email: Rob[a7RobEllsworth.�4m Email:
Firm Lic.#: 20279 Firm Lic.#:
Broker Lic.#: 17790 Broker Lic.#:
Co�y of Notices to Buyer t�: Copy of Notice��Seller ta:
Name: Name•
Company: Company:
Address: Address:
Phone• Phone:
Email:. Email:
19. Purchase and Sale. Buyer agrees to buy and Seller agrees to sell the commercial real estate
identified in Section 1 as the Property and all improvements thereon. Unless expressly provided
otherwise in this Agreement or its Addenda,the Property shall include (i) all of Seller's rights,
title and interest in the Property, [ii) all easements and rights appurtenant to the Property, (iii)
all buildings,fixtures,and improvements on the Property, (iv) all unexpired leases and
subleases; and (v) all included personal property.
20.Acceptance;Counteroffers. If this offer is not timely accepted, it shall lapse and the earnest
money shall be refunded to Buyer. If either party makes a future counteroffer,the other party
shall have until 5:00 p.m. on the day[if not filled in,the second day) following receipt to
accept the counteroffer, unless sooner withdrawn. If the counteroffer is not timely accepted or
countered,this Agreement shall lapse and the earnest money shall be refunded to Buyer. No
acceptance, offer or counteroffer from Buyer is effective until a signed copy is received by
Seller,the Listing Broker or the licensed office of the Listing Broker. No acceptance, offer or
counteroffer from 5eller is effective until a signed copy is received by Buyer,the Selling Broker
� 11/9/2022
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Seller t.:,� Oate�����_ Seller Date. `""�
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or the licensed office of the Selling Broker. "Mutual Acceptance" shall occur when the last
counteroffer is signed by the offeree, and the fully-signed counteroffer has been received by
the offeror, his or her broker, or the licensed office of the broker. If any party is not represented
by a broker,then notices must be delivered to that party and shall be effective when received
by that party.
21. Earnest Money.Selling Broker and Selling Firm are authorized to transfer Earnest Money to
Closing Agent as necessary. Selling Firm shall deposit any check to be held by Selling Firm
within 3 days after receipt or Mutual Acceptance,whichever occurs later. If the Earnest Money
is to be held by Selling Firm and is over$10,000, it shall be deposited to:_the Selling Firm's
pooled trust account [with interest paid to the State Treasurer); or_a separate interest
bearing trust account in Selling Firm's name, provided that Buyer completes an IRS Form W-9
(if not completed, separate interest bearing trust accountJ.The interest, if any, shall be credited
at closing to Buyer. If this sale fails to close,whoever is entitled to the Earnest Money is
entitled to interest. Unless otherwise provided in this Agreement,the Earnest Money shall be
applicable to the Purchase Price.
22.Title Insurance.
a.Title Report.Seller authorizes Buyer, its Lender, Listing Broker,Selling Broker or Closing
Agent, at Seller's expense,to apply for and deliver to Buyer a standard coverage owner's
policy of title insurance from the Title Insurance Company. Buyer shall have the discretion to
apply for an extended coverage owner's policy of title insurance and any endorsements,
provided that Buyer shall pay the increased costs associated with an extended policy
including the excess premium over that charged for a standard coverage policy,the cost of
any endorsements requested by Buyer, and the cost of any survey required by the title
insurer. If Seller previously received a preliminary commitment from a title insurer that Buyer
declines to use, Buyer shall pay any cancellation fee owing to the original title insurer.
Otherwise,the party applying for title insurance shall pay any title cancellation fee, in the
event such a fee is assessed.
b.Permitted Exceptions. Buyer shall notify Seller of any objectionable matters in the title
report or any supplemental report within the earlier of: (a)_days [20 days if not completed)
after receipt of the preliminary commitment for title insurance; or[b)the Feasibility
Contingency Date.This Agreement shall terminate and Buyer shall receive a refund of the
earnest money, less any costs advanced or committed for Buyer, unless within five [5) days of
Buyer's notice of such objections Seller shall give notice, in writing, of its intent to remove all
objectionable provisions before Closing. If 5eller fails to give timely notice that it will clear all
disapproved objections,this Agreement shall automatically terminate and Buyer shall receive
a refund of the earnest money, less any costs advanced or committed for Buyer, unless Buyer
notifies Seller within three [3] days that Buyer waives any objections which Seller does not
agree to remove. If any new title matters are disclosed in a supplemental title report,then the
preceding termination, objection and waiver provisions shall apply to the new title matters
except that Buyer's notice of objections must be delivered within three (3) days of receipt of
the supplemental report by Buyer and Seller's response or Buyer's waiver must be delivered
within two [2) days of Buyer's notice of objections.The Closing Date shall be extended to the
extent necessary to permit time for these notices. Buyer shall not be required to object to any
mortgage or deed of trust liens, or the statutory lien for real property taxes, and the same
shall not be deemed to be Permitted Exceptions; provided, however,that the lien securing
any financing which Buyer has agreed to assume shall be a Permitted Exception. Except for
the foregoing,those provisions not objected to or for which Buyer waived its objections shall
be referred to collectively as the "Permitted Exceptions:'Seller shall reasonably cooperate
with Buyer and the title company to clear objectionable title matters and shall provide an
affidavit containing the information and reasonable covenants requested by the title
company.The title policy shall contain no exceptions other than the General Exclusions and
Exceptions common to such form of policy and the Permitted Exceptions.
11/9/2022
Buyer�� Date Buyer_ �ate —�/
Seller� Dat����2_ Seller Date "�"'
DocuSign Envelope ID:337F22B2-7DDD-4781-885D-FEACB1F22A68
Commercial &Investment Real Estate �ammercialBrokersAssociaUon
�'� SVN Purchase&Sale Agreement ALLRIGHT Rev.7/202D
CBA Form PS-lA I Purchase&Sale Agreement
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c.Title Policy.At Closing, Buyer shall receive an ALTA Form 2006 Owner's Policy of Title
Insurance with standard or extended coverage (as specified by Buyer) dated as of the Closing
Date in the amount of the Purchase Price, insuring that fee simple title to the Property is
vested in Buyer, subject only to the Permitted Exceptions ("Title Policy"), provided that Buyer
acknowledges that obtaining extended coverage may be conditioned on the Title Company's
receipt of a satisfactory survey paid for by Buyer. If Buyer elects extended coverage,then
Seller shall execute and deliver to the Title Company on or before Closing the such affidavits
and other documents as the Title Company reasonably and customarily requires to issue
extended coverage.
23. Feasibility Contingency. Buyer's obligations under this Agreement are conditioned upon
Buyer's satisfaction, in Buyer's sole discretion, concerning all aspects of the Property, including
its physical condition; the presence of or absence of any hazardous substances;the contracts
and leases affecting the Property;the potential financial performance of the Property;the
availability of government permits and approvats; and the feasibility of the Property for Buyer's
intended purpose.This Agreement shall terminate and Buyer shall receive a refund of the
earnest money unless Buyer gives notice that the Feasibility Contingency is satisfied to Seller
before 5:OOpm on the Feasibility Contingency Date. If such notice is timely given,the feasibility
contingency shall be deemed to be satisfied and Buyer shall be deemed to have accepted and
waived any objection regarding any aspects of the Property as they exist on the Feasibility
Contingency Date.
a. Books, Records, Leases,Agreements. Within�days [3 days if not filled in) Seller shall
deliver to Buyer or post in an online database maintained by Seller or Listing Broker,to which
Buyer has been given unlimited access,true, correct and complete copies of all documents in
Seller's possession or control relating to the ownership, operation, renovation or development
of the Property, excluding appraisals or other statements of value, and including the
following: statements for real estate taxes,assessments, and utilities for the last three years
and year to date; property management agreements and any other agreements with
professionals or consultants; leases or other agreements relating to occupancy of all or a
portion of the Property and a suite-by-suite schedule of tenants, rents, prepaid rents,
deposits and fees; plans, specifications, permits, applications, drawings, surveys, and studies;
maintenance records, accounting records and audit reports for the last three years and year
to date; any existing environmental reports; any existing surveys; any existing inspection
reports; and "Vendor Contracts"which shall include maintenance or service contracts, and
installments purchase contracts or leases of personal property or fixtures used in connection
with the Property. Buyer shall determine by the Feasibility Contingency Date: [i)whether Seller
will agree to terminate any objectionable Vendor Contracts; and (ii)whether Seller will agree
to pay any damages or penalties resulting from the termination of objectionable Vendor
Contracts. Buyer's waiver of the Feasibility Contingency shall be deemed Buyer's acceptance
of all Vendor Contracts which Seller has not agreed in writing to terminate. Buyer shall be
solely responsible for obtaining any required consents to such assumption and the payment
of any assumption fees. Seller shall cooperate with Buyer's efforts to receive any such
consents but shall not be required to incur any out-of-pocket expenses or liability in doing so.
Any information provided or to be provided by Seller with respect to the Property is solely for
Buyer's convenience and Seller has not made any independent investigation or verification of
such information (other than that the documents are true,correct, and complete, as stated
above] and makes no representations as to the accuracy or completeness of such
information, except to the extent expressly provided otherwise in this Agreement. Seller shall
transfer the Vendor Contracts as provided in 5ection 25.
b.Access.Seller shall permit Buyer and its agents,at Buyer's sole expense and risk,to enter
the Property at reasonable times subject to the rights of and after legal notice to tenants,to
conduct inspections concerning the Property, including without limitation,the structural
condition of improvements, hazardous materials, pest infestation, soils conditions, sensitive
areas,wetlands, or other matters affecting the feasibility of the Property for Buyer's intended
11/9/2022
Buyer a� Date _ Buyer Date `�/
Seller;�� Dat����.g.�� Seller Uate `""''
DocuSign Envelope ID:337F22B2-7DDD-4781-885D-FEAC61F22A68
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I�SVN Purchase&Sale Agreement �AFortnPS-IA�Purthase&SaleRev.7/2020
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use. Buyer shall schedule any entry onto the Property with Seller in advance and shall comply
with Seller's reasonable requirements including those relating to security,confidentiality, and
disruption of 5eller's tenants. Prior to entering the Property and while conducting any
inspections, Buyer shall, at no cost or expense to Seller: (aJ procure and maintain commercial
general liability(occurrenceJ insurance in an amount no less than $2,000,000 on
commercially reasonable terms adequate to insure against all liability arising out of any entry
onto or inspections of the Property that lists Seller and Tenant as additional insureds; and [bJ
deliver to Seller prior to entry upon the Property certificates of insurance for Buyer and any
applicable agents or representatives evidencing such required insurance. Buyer shall not
perform any invasive testing including environmental inspections beyond a phase I
assessment or contact the tenants or property management personnel without obtaining
Seller's prior written consent,which shall not be unreasonably withheld, conditioned or
delayed. Buyer shall restore the Property and all improvements to substantially the same '
condition they were in prior to inspection. Buyer shall be solely responsible for all costs of its
inspections and feasibility analysis and has no authority to bind the Property for purposes of
statutory liens. Buyer agrees to indemnify and defend Seller from all liens, costs, claims, and
expenses, including attorneys' and experts' fees,arising from or relating to entry onto or
inspection of the Property by Buyer and its agents,which obligation shall survive closing.
Buyer may continue to enter the Property in accordance with the foregoing terms and
conditions after removal or satisfaction of the Feasibility Contingency only for the purpose of
leasing or to satisfy conditions of financing.
c. Buyer waives,to the fullest extent permissible by law,the right to receive a seller disclosure
statement[e.g. "Form 17") if required by RCW 64.06 and its right to rescind this Agreement
pursuant thereto. However, if Seller would otherwise be required to provide Buyer with a Form
17, and if the answer to any of the questions in the section of the Form 17 entitled
"Environmental"would be "yes;'then Buyer does not waive the receipt of the "Environmental"
section of the Form 17 which shall be provided by Seller.
24.Conveyance.Title shall be conveyed subject only to the Permitted Exceptions. If this
Agreement is for conveyance of Seller's vendee's interest in a Real Estate Contract,the deed
shall include a contract vendee's assignment sufficient to convey after-acquired title. At
Closing, Seller and Buyer shall execute and deliver to Closing Agent CBA Form PS-AS
Assignment and Assumption Agreement transferring all leases and Vendor Contracts assumed
by Buyer pursuant to Section 25(bJ and all intangible property transferred pursuant to Section
25[b).
25. Personal Property.
a. If this sale includes the personal property located on and used in connection with the
Property, Seller will itemize such personal property in an Exhibit to be attached to this
Agreement within ten [10) days of Mutual Acceptance.The value assigned to any personal
property shall be$ [if not completed,the County-assessed value if available,and if not
available,the fair market value determined by an appraiser selected by the Listing Broker and
Selling Broker). Seller warrants title to, but not the condition of,the personal property and
shall convey it by bill of sale.
b. In addition to the leases and Vendor Contracts assumed by Buyer pursuant to Section 24
above,this sale includes all right,title and interest of Seller to the following intangible
property now or hereafter existing with respect to the Property including without limitation:
all rights-of-way, rights of ingress or egress or other interests in, on, or to, any land, highway,
street, road, or avenue, open or proposed, in, on, or across, in front of, abutting or adjoining
the Property; all rights to utilities serving the Property; all drawings, plans, specifications and
other architectural or engineering work product; all governmental permits, certificates,
licenses, authorizations and approvals; all rights,claims, causes of action, and warranties
under contracts with contractors, engineers,architects, consultants or other parties
Q°� 11/9/2022
Buyer �' Date Buyer Date �� /
Seller;-0° Date�.����1..�— 5eller Date_ """
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associated with the Property; all utility, security and other deposits and reserve accounts
made as security for the fulfillment of any of Seller's obligations; any name of or telephone
numbers for the Property and related trademarks, service marks or trade dress; and
guaranties,warranties or other assurances of performance received.
26.Seller's Underlying Financing. Unless Buyer is assuming Seller's underlying financing, Seller
shall be responsible for confirming the existing underlying financing is not subject to any"lock
out" or similar covenant which would prevent the lender's lien from being released at closing.
In addition, Seller shall provide Buyer notice prior to the Feasibility Contingency Date if Seller is
required to substitute securities for the Property as collateral for the underlying financing
(known as"defeasance"j. If Seller provides this notice of defeasance to Buyer,then the parties
shal► close the transaction in accordance with the process described in CBA Form PS_D or any
different process identified in Seller's defeasance notice to Buyer.
27.Closing of Sale. Buyer and Seller shall deposit with Closing Agent by 12:00 p.m. on the
scheduled Closing Date all instruments and monies required to complete the purchase in
accordance with this Agreement. Upon receipt of such instruments and monies, Closing Agent
shall cause the deed to be recorded and shall pay to Seller, in immediately available funds,the
Purchase Price less any costs or other amounts to be paid by Seller at Closing. "Closing"shall
be deemed to have occurred when the deed is recorded and the sale proceeds are available to
Seller.Time is of the essence in the performance of this Agreement. Sale proceeds shall be
considered available to Seller, even if they cannot be disbursed to Seller until the next business
day after Closing. Notwithstanding the foregoing, if Seller informed Buyer before the Feasibility
Contingency Date that Seller's underlying financing requires that it be defeased and may not
be paid off,then Closing shall be conducted in accordance with the three[3)-day closing
process described in CBA Form PS_D.This Agreement is intended to constitute escrow
instructions to Closing Agent. Buyer and Seller will provide any supplemental instructions
requested by Closing Agent provided the same are consistent with this Agreement.
28.Closing Costs and Prorations. Seller shall deliver an updated rent roll to Closing Agent not
later than two [2) days before the scheduled Closing Date in the form required by Section 23(a)
and any other information reasonably requested by Closing Agent to allow Closing Agent to
prepare a settlement statement for Closing. Seller certifies that the information contained in
the rent roll is correct as of the date submitted. Seller shall pay the premium for the owner's
standard coverage title policy. Buyer shall pay the excess premium attributable to any
extended coverage or endorsements requested by Buyer, and the cost of any survey required
in connection with the same. Seller and Buyer shall each pay one-half of the escrow fees.Any
real estate excise taxes shall be paid by the party who bears primary responsibility for
payment under the applicable statute or code. Real and personal property taxes and
assessments payable in the year of closing; collected rents on any existing tenancies;
expenses already incurred by Seller that relate to services to be provided to the Property after
the Closing Date; interest; utilities; and other operating expenses shall be pro- rated as of
Closing. Seller will be charged and credited for the amounts of all of the pro-rated items
relating to the period up to and including 11:59 pm Pacific Time on the day preceding the
Closing Date, and Buyer will be charged and credited for all of the pro-rated items relating to
the period on and after the Closing Date. If tenants pay any of the foregoing expenses directly,
then Closing Agent shall only pro rate those expenses paid by Seller. Buyer shall pay to Seller
at Closing an additional sum equal to any utility deposits or mortgage reserves for assumed
financing for which Buyer receives the benefit after Closing. Buyer shall pay all costs of
financing including the premium for the lender's title policy. If the Property was taxed under a
deferred classification prior to Closing,then Seller shall pay all taxes, interest, penalties,
deferred taxes or similar items which result from removal of the Property from the deferred
classification.At Closing, all refundable deposits on tenancies shall be credited to Buyer or
delivered to Buyer for deposit in a trust account if required by state or local law. Buyer shall
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Buyer a� Date Buyer Date ��/
Seller�� Date2l�n_L��_ Seller Date `"'s
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pay any sales or use tax applicable to the transfer of personal property included in the sale.
29. Post-Closing Adjustments, Collections,and Payments.After Closing, Buyer and Seller shall
reconcile the actual amount of revenues or liabilities upon receipt or payment thereof to the
extent those items were prorated or credited at Closing based upon estimates.Any bills or
invoices received by Buyer after Closing which relate to services rendered or goods delivered
to the Seller or the Property prior to Closing shall be paid by Seller upon presentation of such
bill or invoice.At Buyer's option, Buyer may pay such bill or invoice and be reimbursed the
amount paid plus interest at the rate of 12% per annum beginning fifteen [15) days from the
date of Buyer's written demand to Seller for reimbursement until such reimbursement is made.
Notwithstanding the foregoing, if tenants pay certain expenses based on estimates subject to
a post-closing reconciliation to the actual amount of those expenses,then Buyer shall be
entitled to any surplus and shall be liable for any credit resulting from the reconciliation. Rents
collected from each tenant after Closing shall be applied first to rentals due most recently from
such tenant for the period after closing, and the balance shall be applied for the benefit of
Seller for delinquent rentals owed for a period prior to closing.The amounts applied for the
benefit of Seller shall be turned over by Buyer to Seller promptly after receipt. Seller shall be
entitled to pursue any lawful methods of collection of delinquent rents but shall have no right
to evict tenants after Closing.Any adjustment shall be made, if any,within 180 days of the
Closing Date, and if a party fails to request an adjustment by notice delivered to the other
party within the applicable period set forth above [such notice to specify in reasonable detail
the items within the Closing Statement that such party desires to adjust and the reasons for
such adjustment),then the allocations and prorations at Closing shall be binding and
conclusive against such party.
30. Operations Prior to Closing. Prior to Closing,Seller shall continue to operate the Property in
the ordinary course of its business and maintain the Property in the same or better condition
than as existing on the date of Mutual Acceptance but shall not be required to repair material
damage from casualty except as otherwise provided in this Agreement.After the Feasibility
Contingency Date, Seller shall not enter into or modify existing rental agreements or leases
(except that Seller may enter into, modify, extend, renew or terminate residential rental
agreements or residential leases for periods of 12 months or less in the ordinary course of its
business), service contracts, or other agreements affecting the Property which have terms
extending beyond Closing without obtaining Buyer's consent,which shall not be withheld
unreasonably.
31. Possession. Buyer shall accept possession subject to all tenancies disclosed to Buyer before
the Feasibility Contingency Date.
32.Seller's Representations. Except as disclosed to or known by Buyer prior to the satisfaction
or waiver of the Feasibility Contingency, including in the books, records and documents made
available to Buyer, or in the title report or any supplemental report or documents referenced
therein, Seller represents to Buyer that,to the best of Seller's actual knowledge, each of the
following is true as of the date hereof: (a)Seller is authorized to enter into the Agreement,to
sell the Property,and to perform its obligations under the Agreement, and no further consent,
waiver, approval or authorization is required from any person or entity to execute and perform
under this Agreement; [b)The books, records, leases, agreements and other items delivered to
Buyer pursuant to this Agreement comprise all material documents in 5eller's possession or
control regarding the operation and condition of the Property, are true, accurate and complete
to the best of Seller's knowledge, and no other contracts or agreements exist that will be
binding on Buyer after Closing; [c) Seller has not received any written notices that the Property
or any business conducted thereon violate any applicable laws, regulations, codes and
ordinances; [d)Seller has all certificates of occupancy, permits, and other governmental
consents necessary to own and operate the Property for its current use; [e)There is no
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FfTFR&C^MP�Nr
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pending or threatened litigation which would adversely affect the Property or Buyer's
ownership thereof after Closing; [f)There is no pending or threatened condemnation or similar
proceedings affecting the Property, and the Property is not within the boundaries of any
planned or authorized local improvement district; (g) Seller has paid [except to the extent
prorated at ClosingJ all local, state and federal taxes [other than real and personal property
taxes and assessments described in Section 28 aboveJ attributable to the period prior to
closing which, if not paid, could constitute a lien on Property[including any personal property),
or for which Buyer may be held liable after Closing; [h) Seller is not aware of any concealed
material defects in the Property except as disclosed to Buyer before the Feasibility
Contingency Date; [i]There are no Hazardous Substances [as defined below) currently located
in, on, or under the Property in a manner or quantity that presently violates any Environmental
Law [as defined below);there are no underground storage tanks located on the Property; and
there is no pending or threatened investigation or remedial action by any governmental
agency regarding the release of Hazardous Substances or the violation of Environmental Law
at the Property; (j) Seller has not granted any options nor obligated itself in any matter
whatsoever to sell the Property or any portion thereof to any party other than Buyer; and [k)
Neither Seller nor any of its respective partners, members, shareholders or other equity
owners, is a person or entity with whom U.S. persons or entities are restricted from doing
business under regulations of the Office of Foreign Asset Control ("OFAC") of the Department
of the Treasury[including those named on OFAC's Specially Designated and Blocked Persons
Listj or under any statute or executive order; and [I)the individual signing this Agreement on
behalf of Seller represents and warrants to Buyer that he or she has the authority to act on
behalf of and bind Seller.As used herein,the term "Hazardous Substances" shall mean any
substance or material now or hereafter defined or regulated as a hazardous substance,
hazardous waste,toxic substance, pollutant, or contaminant under any federal, state, or local
law, regulation, or ordinance governing any substance that could cause actual or suspected
harm to human health or the environment["Environmental Law").The term "Hazardous
Substances" specifically includes, but is not limited to, petroleum, petroleum by-products, and
asbestos.
If prior to Closing Seller or Buyer discovers any information which would cause any of the
representations above to be false if the representations were deemed made as of the date of
such discovery,then the party discovering the information shall promptly notify the other party
in writing and Buyer, as its sole remedy, may elect to terminate this Agreement by giving Seller
notice of such termination within five (5) days after Buyer first received actual notice (with the
Closing Date extended to accommodate such five (5) day period), and in such event,the
Earnest Money Deposit shall be returned to Buyer. Buyer shall give notice of termination within
five [5) days of discovering or receiving written notice of the new information. Nothing in this
paragraph shall prevent Buyer from pursuing its remedies against Seller if Seller had actual
knowledge of the newly discovered information such that a representation provided for above
was false.
33.As-Is. Except for the express representations and warranties in this Agreement, (a]Seller
makes no representations or warranties regarding the Property; (bJ Seller hereby disclaims,
and Buyer hereby waives, any and all representations or warranties of any kind, express or
implied, concerning the Property or any portion thereof, as to its condition,value, compliance
with laws, status of permits or approvals, existence or absence of hazardous material on site,
suitability for Buyer's intended use, occupancy rate or any other matter of similar or dissimilar
nature relating in any way to the Property, including the warranties of fitness for a particular
purpose,tenantability, habitability and use; [c) Buyer takes the Property"AS IS"and with all
faults; and (d) Buyer represents and warrants to Seller that Buyer has sufficient experience
and expertise such that it is reasonable for Buyer to rely on its own pre-closing inspections
and investigations.
11/9/2022
8uyer a� Date Buyer_ __ Date —�/
Seller�� Dat��n i��_�� Seller Date "`"'
I Yi�� — �' —
DocuSign Envelope ID:337F22B2-7DDD�781-885D-FEAC61F22A68
Commercial &Investment Real Estate CummercialBrokersAssodation
ALLRIGHTS RESERVE�
�v • � Purchase&Sale Agreement �APortnPS-1AIPurchase&SaleAgreement
Rev.7l2020
.... -. Pa9e9�15
34. Buyer's Representations. Buyer represents that Buyer is authorized to enter into the
Agreement;to buy the Proper-ty;to perform its obligations under the Agreement; and that
neither the execution and delivery of this Agreement nor the consummation of the transaction
contemplated hereby will: (a) conflict with or result in a breach of any law, regulation,writ,
injunction or decree of any court or governmental instrumentality applicable to Buyer; or[b)
constitute a breach of any agreement to which Buyer is a party or by which Buyer is bound.
The individual signing this Agreement on behalf of Buyer represents that he or she has the
authority to act on behalf of and bind Buyer.
35.Claims.Any claim or cause of action with respect to a breach of the representations and
warranties set forth herein shall survive for a period of nine [9) months from the Closing Date,
at which time such representations and warranties (and any cause of action resulting from a
breach thereof not then in litigation, including indemnification claims) shall terminate.
Notwithstanding anything to the contrary in this Agreement: (a) Buyer shall not make a claim
against Seller for damages for breach or default of any representation or warranty, unless the
amount of such claim is reasonably anticipated to exceed $25,000; and [b) under no
circumstances shall Seller be liable to Buyer on account of any breach of any representation or
warranty in the aggregate in excess of the amount equal to $250,000, except in the event of
Seller's fraud or intentional misrepresentation with respect to any representation or warranty
regarding the environmental condition of the Property, in which case Buyer's damages shall be
unlimited.
36. Condemnation and Casualty.Seller bears all risk of loss until Closing, and thereafter Buyer
bears all risk of loss. Buyer may terminate this Agreement and obtain a refund of the earnest
money if improvements on the Property are materially damaged or if condemnation
proceedings are commenced against all or a portion of the Property before Closing,to be
exercised by notice to Seller within ten (10J days after Seller's notice to Buyer of the occurrence
of the damage or condemnation proceedings. Damage will be considered material if the cost of
repair exceeds the lesser of$100,000 or five percent (5%) of the Purchase Price.Alternatively,
Buyer may elect to proceed with closing, in which case, at Closing, Seller shall not be obligated
to repair any damage, and shall assign to Buyer all claims and right to proceeds under any
property insurance policy and shall credit to Buyer at Closing the amount of any deductible
provided for in the policy.
37. FIRPTA Tax Withholding at Closing. Closing Agent is instructed to prepare a certification (CBA
or NWMLS Form 22E, or equivalent)that Seller is not a "foreign person"within the meaning of
the Foreign Investment in Real Property Tax Act, and Seller shall sign it on or before Closing. If
Seller is a foreign person,and this transaction is not otherwise exempt from FIRPTA, Closing
Agent is instructed to withhold and pay the required amount to the Internal Revenue Service.
38. Notices. Unless otherwise specified, any notice required or permitted in, or related to,this
Agreement(including revocations of offers and counteroffers) must be in writing. Notices to
Seller must be signed by at least one Buyer and must be delivered to Seller and Listing Broker
with a courtesy copy to any other party identified as a recipient of notices in Section 18.A
notice to Seller shall be deemed delivered only when received by Seller and Listing Broker, or
the licensed office of Listing Broker. Notices to Buyer must be signed by at least one Seller and
must be delivered to Buyer,with a copy to Selling Broker and with a courtesy copy to any other
party identified as a recipient of notices in Section 18.A notice to Buyer shall be deemed
delivered only when received by Buyer and Selling Broker, or the licensed office of Selling
Broker. Selling Broker and Listing Broker otherwise have no responsibility to advise parties of
receipt of a notice beyond either phoning the represented party or causing a copy of the notice
to be delivered to the party's address provided in this Agreement. Buyer and Seller shall keep
Selling Broker and Listing Broker advised of their whereabouts in order to receive prompt
notification of receipt of a notice. If any party is not represented by a licensee,then notices
11/9/2022
Buyer a� Uate_ Buyer Date —./
Seller;—p° Dateo i�n i��T�� Seller Date """
�Il'.� —� --� ----
DocuSign Envelope ID:337F22B2-7DDD-4781-885D-FEAC61F22A68
Commercial &Investment Real Estate CommercialBrokersAssodation
�I�/SVN Purchase&Sale Agreement A�LRIGHTSRESERVED
CBA Fortn PS-lA I Purchase&Sale Agreement
✓4E'�EPB::MPAN� Rev.7/2020
Page 10n5
must be delivered to and shall be effective when received by that party at the address,fax
number, or email indicated in Section 18. Facsimile transmission of any notice or document
shall constitute delivery. E-mail transmission of any notice or document[or a direct link to such
notice or document) shall constitute delivery when: [i)the e-mail is sent to both Selling Broker
and Selling Firm or both Listing Broker and Listing Firm at the e-mail addresses specified on
page two of this Agreement; or[iiJ Selling Broker or Listing Broker provide written
acknowledgment of receipt of the e-mail [an automatic e-mail reply does not constitute
written acknowledgment).At the request of either party, or the Closing Agent,the parties will
confirm facsimile or e-mail transmitted signatures by signing an original document.
39.Computation of Time. Unless otherwise specified in this Agreement, any period of time in this
Agreement shall mean Pacific Time and shall begin the day after the event starting the period
and shall expire at 5:00 p.m. of the last calendar day of the specified period of time, unless the
last day is a Saturday,Sunday or legal holiday as defined in RCW 1.16.050, in which case the
specified period of time shall expire on the next day that is not a Saturday, Sunday or legal
holiday.Any specified period of five (5J days or less shall not include Saturdays, Sundays or
legal holidays. Notwithstanding the foregoing, references to specific dates or times or number
of hours sha�l mean those dates,times or number of hours; provided, however,that if the
Closing Date falls on a Saturday, Sunday, or legal holiday as defined in RCW 1.16.050, or a date
when the county recording office is closed,then the Closing Date shall be the next regular
business day. If the parties agree upon and attach a legal description after this Agreement is
signed by the offeree and delivered to the offeror,then for the purposes of computing time,
mutual acceptance shall be deemed to be on the date of delivery of an accepted offer or
counteroffer to the offeror, rather than on the date the legal description is attached.
40.Assignment. Buyer's rights and obligations under this Agreement are not assignable without
the prior written consent of Seller,which shall not be withheld unreasonably; provided,
however, Buyer may assign this Agreement without the consent of Seller, but with notice to
Seller,to any entity under common control and ownership of Buyer, provided no such
assignment shall relieve Buyer of its obligations hereunder. If the words"and/or assigns" or
similar words are used to identify Buyer in Section 2,then this Agreement may be assigned
with notice to Seller but without need for Seller's consent.The party identified as the initial
Buyer shall remain responsible for those obligations of Buyer stated in this Agreement
notwithstanding any assignment and, if this Agreement provides for Seller to finance a portion
of the purchase price,then the party identified as the initial Buyer shall guarantee payment of
Seller financing.
41. Default and Attorneys'Fees.
a. Buyer's default. In the event Buyer fails,without legal excuse,to complete the purchase of
the Property,then the applicable provision as identified in Section 13 shall apply:
i. Forfeiture of Earnest Money.Seller may terminate this Agreement and keep that
portion of the earnest money that does not exceed five percent(5%) of the Purchase
Price as liquidated damages as the sole and exclusive remedy available to Seller for such
failure.
ii.Seller's Election of Remedies.Seller may,at its option, (a)terminate this Agreement
and keep that portion of the earnest money that does not exceed five percent (5%) of the
Purchase Price as liquidated damages as the sole and exclusive remedy available to Seller
for such failure, [b) bring suit against Buyer for Seller's actual damages, (c) bring suit to
specifically enforce this Agreement and recover any incidental damages, or[d) pursue any
other rights or remedies available at law or equity.
b.Seller's default. In the event Seller fails,without legal excuse,to complete the sale of the
Property,then the applicable provision as identified in Section 14 shall apply:
Q� 11/9/2022
Buyer � Date, Buyer Date `'/
Selleri�� Oat�f��� Seller Date `""z
DocuSign Envelope ID:337F2262-7DDD-4781-885D-FEAC61F22A68
Commercial &Investment Real Estate �ammercial BrokersAssodation
�I� SVN Purchase&Sale Aareement ALLRIGHTSRESERVED
/ CBA Form PS-lA�Purthase&Sale Agreement
✓PFf*FF&i�MPAN• + Rev.7/2020
Page 11n5
i. Recover Earnest Money or Specific Enforcement.As Buyer's sole remedy, Buyer may
either[a)terminate this Agreement and recover all earnest money or fees paid by Buyer
whether or not the same are identified as refundable or applicable to the purchase price;
or[bJ bring suit to specifically enforce this Agreement and recover incidental damages,
provided, however, Buyer must file suit within sixty[60) days from the Closing Date or
from the date Seller has provided notice to Buyer that Seller will not proceed with closing,
whichever is earlier.
ii. Buyer's Election of Remedies. Buyer may,at its option, [a) bring suit against Seller for
Buyer's actual damages, (bJ bring suit to specifically enforce this Agreement and recover
any incidental damages, or(cJ pursue any other rights or remedies available at law or
equity.
c. Neither Buyer nor Seller may recover consequential damages such as lost profits. If Buyer
or 5eller institutes suit against the other concerning this Agreement,the prevailing party is
entitled to reasonable attorneys'fees and costs. In the event of trial, the amount of the
attorneys'fees shall be fixed by the court.The venue of any suit shall be the county in which
the Property is located, and this Agreement shall be governed by the laws of the State of
Washington without regard to its principles of conflicts of laws.
42. MiscellaneousProvisions.
a.Complete Agreement.This Agreement and any addenda and exhibits thereto state the
entire understanding of Buyer and Seller regarding the sale of the Property.There are no
verbal or other written agreements which modify or affect the Agreement,and no
modification of this Agreement shall be effective unless agreed in writing and signed by the
parties.
b.Counterpart Signatures.This Agreement may be signed in counterpart, each signed
counterpart shall be deemed an original, and all counterparts together shall constitute one
and the same agreement.
c. Electronic Delivery and Signatures. Electronic delivery of documents (e.g.,transmission by
facsimile or emailj including signed offers or counteroffers and notices shall be legally
sufficient to bind the party the same as delivery of an original.At the request of either party,
or the Closing Agent,the parties will replace electronically delivered offers or counteroffers
with original documents.The parties acknowledge that a signature in electronic form has the
same legal effect as a handwritten signature.
d.Section 1031 Like-Kind Exchange. If either Buyer or Seller intends for this transaction to be
a part of a Section 1031 like-kind exchange,then the other party agrees to cooperate in the
completion of the like- kind exchange so long as the cooperating party incurs no additional
liability in doing so, and so long as any expenses[including attorneys'fees and costs) incurred
by the cooperating party that are related only to the exchange are paid or reimbursed to the
cooperating party at or prior to Closing. Notwithstanding this provision, no party shall be
obligated to extend closing as part of its agreement to facilitate completion of a like-kind
exchanged. In addition, notwithstanding Section 40 above, any party completing a Section
1031 like-kind exchange may assign this Agreement to its qualified intermediary or any entity
set up for the purposes of completing a reverse exchange.
43. Information Transfer. In the event this Agreement is terminated, Buyer agrees to deliver to
Seller within ten [10) days of Seller's written request copies of all materials received from Seller
and any non-privileged plans, studies, reports, inspections, appraisals, surveys, drawings,
permits, applications or other development work product relating to the Property in Buyer's
possession or control as of the date this Agreement is terminated.
a� 11/9/2022
Buyer _ Date Buyer_ Date. _ _ `�/
Sellerr�� Dat�����_ Seller Date �"J1
DocuSign Envelope ID:337F22B2-7DDD-4781-885D-FEAC61F22A68
Commercial &Investment Real Estate CommercialBrokersPssodaUon
��� SVN Purchase&Sale Agreement ALLRIGHTSRESERVED
CBA Fortn PS•lA�Purchase&Sale Agreement
���Fq d:cM�h,� Rev.7/2020
Page 12n5
44. Confidentiality. Until and unless closing has been consummated, Buyer and Seller shali
follow reasonable measures to prevent unnecessary disclosure of information obtained in
connection with the negotiation and performance of this Agreement. Neither party shall use or
knowingly permit the use of any such information in any manner detrimental to the other
pa rty.
45.Agency Disclosure. Selling Firm, Selling Firm's Designated Broker,Selling Broker's Branch
Manager[if anyJ and Selling Broker's Managing Broker[if any] represent the same party that
Selling Broker represents. Listing Firm, Listing Firm's Designated Broker, Listing Broker's
Branch Manager(if any), and Listing Broker's Managing Broker(if any) represent the same
party that the Listing Broker represents. If Selling Broker and Listing Broker are different
persons affiliated with the same Firm,then both Buyer and Seller confirm their consent to the
Brokers' Designated Broker, Branch Manager(if anyJ, and Managing Broker[if any) representing
both parties as a dual agent. If Selling Broker and Listing Broker are the same person
representing both parties,then both Buyer and Seller confirm their consent to that person and
his/her Designated Broker, Branch Manager(if any), and Managing Broker(if any) representing
both parties as dual agents.All parties acknowledge receipt of the pamphlet entitled "The Law
of Real Estate Agency:'
46. Seller's Acceptance and Brokerage Agreement. 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 0% of the sales price or
$_.The commission shall be apportioned between Listing Firm and Selling Firm as specified
in the listing or any co-brokerage agreement. If there is no listing or written co-brokerage
agreement,then Listing Firm shall pay to Selling Firm a commission of_% of the sales price
or$_. 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[sJ 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.
47.Listing Broker and Selling Broker Disclosure. EXCEPT AS OTHERWISE DISCLOSED IN WRITING
TO BUYER OR SELLER,THE SELLING BROKER, LISTING BROKER,AND FIRMS HAVE NOT MADE
ANY REPRESENTATIONS OR WARRANTIES OR CONDUCTED ANY INDEPENDENT INVESTIGATION
CONCERNING THE LEGAL EFFECT OF THIS AGREEMENT, BUYER'S OR SELLER'S FINANCIAL
STRENGTH, BOOKS, RECORDS, REPORTS, STUDIES, OR OPERATING STATEMENTS;THE
CONDITION OF THE PROPERTY OR ITS IMPROVEMENTS;THE FITNESS OF THE PROPERTY FOR
BUYER'S INTENDED USE; OR OTHER MATTERS RELATING TO THE PROPERTY, INCLUDING
WITHOUT LIMITATION,THE PROPERTY'S ZONING, BOUNDARIES,AREA, COMPLIANCE WITH
APPLICABLE LAWS (INCLUDING LAWS REGARDING ACCESSIBILITY FOR DISABLED PERSONSj,
OR HAZARDOUS OR TOXIC MATERIALS INCLUDING MOLD OR OTHER ALLERGENS. SELLER AND
BUYER ARE EACH ADVISED TO ENGAGE QUALIFIED EXPERTS TO ASSIST WITH THESE DUE
DILIGENCE AND FEASIBILITY MATTERS,AND ARE FURTHER ADVISED TO SEEK INDEPENDENT
LEGAL AND TAX ADVICE RELATED TO THIS AGREEMENT.
Q 11/9/2022
Buyer� _ Date Buyer, Date ��/
Seller��T Dat�/�����._ Seller Date `"`'''
I .�1
DocuSign Envelope ID:337F2262-7DDD�781-885D-FEACB1F22A68
Commercial &Investment Real Estate CommercialBrokersAssociation
II' SVN ALL RIGHTS RESERVED
� Purchase&Sale A reement C6AFormPS-1A�Purchase&SaleAgreemerrt
9 Re�.��zozo
" � Page13n5
IN WITNESS WHEREOF,the parties have signed this Agreement intending to be bound.
Buyer Cit of Pasco Seller lohn M. Rico
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Buyer � a�" K• U"� Seller � ��• �0
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Date 11/9/2022 Date 8�30/2022
Buyer Seller
�need Name ana rype or�m+h anoeea rmme ana'rvce or Enu�y
Buyer Seller
9gna4ire entl Tltle Sl9neh�e andlltle
Date Date
11/9/2022
Buyer a� Date Buyer Date ��/
Sellerl�� Date�I�o_L��_ Seller Date `�"'''
�7DT
DocuSign Envelope ID:337F22B2-7DDD-4781-885D-FEACB1F22A68
1�� Commercial &Investment Real Estate CommeRialBrokersAssociation
�I� SVIr Purchase&Sale Aareement ALLRIGHTSRESEFtVEO
CBA Fortn PS-lA�Purchase&Sale Agreement
RETTER&:OMPANY �+ RCY.7�ZOZO
Pagelan5
IXHIBIT A*
[Legal Description]
Purchase is for a 7,821 Right of Way from Franklin County Parcel:TRACT A, 27-9-30,
PTN NE45W4 DAF; BEG SE COR SD SUBDIV;TH NLY ALG E LN 373.4'TO S R/W LN PSH
#3;TH NWLY ALG SD R/W LN 150';TH SLY AND P/W E LN 200';TH WLY&P/W S LN
303';TH SLY&P/W W LN 279'TO S LN SD SUBDIV;TH E ALG S LN TO POB, LESS PTN
PSH#3
As shown below(dark area)
, . �.
' ` \��° \ -�.
� �
/ F .
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. ,
. . `��s
\�e� .
PROPERTY ` +
CORNER . � �
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a4pP�_E' � `�'+��
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� ��_- BUILDING � U/SaOT� `�
—__ _ - _Y _ _______—__ I--�- �_ 1�137a�K�5:t ,��
T PRDPERN \
CORNER
FOUND I
I
�'�HLA m��° ,� „ CITY OF PASCa �
r��^� R'CO PROPER7Y �
Famy�;�pp E.LEJJIS PLACE�7CTENSION
����� �� - PoCHT OF WAY Epi1BR YAP ' �
*To ensure accuracy in the legal description,consider substituting the legal description contained in the preliminary
commitment for title insurance or a copy of the Property's last vesting deed for this page.Do not neglect to label the
substitution"Exhibit A:'You should avoid transcribing the legal description because any error in transcription may
render the legal description inaccurate and this Agreement unenforceable.
Q� 11/9/2022
Buyer � _ _ Date Buyer_ Date _ ��/
Seller�--De� Datef�yL3.���.x_ Seller Date `A1z
DocuSign Envelope ID:337F2262-7DDD-4781-885D-FEACB1F22A68
Commercial&Investment Real Estate CommercialBrokersAssodation
ALL RIGHTS RESERVED
���■ ` Purchase&SaleA reement wAFortnPS-1AIPurchase&SaleAgreement
R'_f�EH 6[^.M^AHv 9 Rev.7l2020
Pdge 15n5
EXHIBIT B
[Additional Terms]
1. Offer of acceptance is subject to final approval of all terms by Pasco City Council
2. This purchase is for a Right of Way as defined and shown in the Ex.A and not the actual
purchase of the land. The Right of Way document will be drafted by the city for mutual
acceptance and execution.
3. The city will provide a Right-of-Way use permit that will allow Seller to continue using the
acquired property until such time as any extension of the roadway occurs
4. The city will, prior to development of the proposed roadway extension,extend both water and
sewer service stubs to Seller's property up to the R/W line for future connection.
5. The seller is concerned that the existing chain link mesh may be too stretched or warped. It is
important to the seller to have the stringers/supports that are correct and appropriate.The
city will remove and replace to the new R/W line with new chain link fence with posts. It is
believed that the gate will just be relocated and can be reused.
6. The city will install a Type 1 commercial approach at a maximum width of 45' at the time the
city does make this road extension.
7. The Buyer will cover all closing costs associated with this transaction.
11/9/Z022
Buyer a� Date Buyer Date �
Seller��� �at������_ Seller Date_ �