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Guarantee 001+ of Yelm ra R. Box Box 479 m, WA 98597 Document title(s) (or transactions contained therein): 1. Subdivision Guarantee for Willow Glen Division III. Reference Number(s) of Documents assigned or released: (on page of documents(s)) Grantor(s) (Last name, first name, middle inital) L Yelm Property Development 2. Willow Glenn Division II[ Subdivision Grantee(s) (Last name, first name, middle initial) 1. Ciry of Yelm 2. Legal Description (abbreviated: i.e. lot, block, plat or section, township, range) A portion of block 35 of McKenna irrigated tracts S 2Q, T 17N, R 2E, W.M. Assessors Property Tax ParceUAccount Number: 64303500200 3974466 n Harz©ov oou vn vt at ceruPa9oa 1 of 6 TM1Urslon CounlY WasMn9ton CITY OF VE~M IIIIIIIII IIIIII IIII IIIIII IIII IIIIIII IIIIII IIII IIIVIII VIII IIIIIII III VIII VIII IIII IIII ~c \ LandAmerica Transnation Yelm Property Development, LLC PO BOX 2950 16422 Middle Road SE Yelm, WA 98597 REFERENCE NO: Willow Glen #3/Brockton Construction, LLC Order No.: 20299286 ~ Liability: $0.00 Charge: $ 0.00 Tax: $ 0.00 Total: $ 0.00 UPDATED SUBDIVISION GUARANTEE Subject to the Exclusions from Coverage, the limits of liability and other provisions of the Conditions and Stipulations hereto annexed and made a part of this Guarantee, and subject to the further exclusion and limitation [hat no guarantee is given nor liability assumed with respect to the identity of any party named or referred to in Schedule A or with respect [o the validity, legal effect or priority of any matter shown therein, Transnation Title Insurance Company a corporation herein called the Company, GUARANTEES the Assured named in Schedule A against actual monetary loss or damage rot exceeding the liability amcurt stated herein which the Assured shall sustain dy reason of zny inmr:-ecness in the assurances set forth in Schedule A. Dated: June 21, 2007 Transnation Title Insurance Company ey f/ '/ acmor~zed s~ n mre 39744fi6 Page 2 of 6 11/29/2007 04'12 PM Plat Certlf icate TM1UrS IOn LOUnIV WaSM1ingl On oITY OF TELM (IIIIIII III IIIIII IIII IIIIII IIII IIIIIII IIIIII IIII IIII VIII VIII IIIIIII III VIII VIII IIII IIII Subdivision Guarantee Page 1 of 5 GNT004 ~ Order NO.: 20299286 SCHEDULER 1. Name of Assured Yelm Property Development, LLC 2. Date of Guarantee: ]une 21, 2007 at 8:00 a. m. 3. The assurances referred to on the face page hereof are: a. That according to those public records which, under the recording laws, impart constructive notice of matters affecting title to the following described land: See Exhibit A attached hereto. b. Title to the estate or interest in the land is vested in: Brockton Construction, LLC, a Washington limited liability company c. The estate or interest in the land which is covered by this Guarantee is: A fee simple estate Subject to the Exceptions shown below, which are no[ necessarily shown in order of their priority. EXCEPTIONS: (A) UNPATENTED MINING CLAIMS; (B) RESERVATIONS OR EXCEPTIONS IN PATENTS OR IN ACTS AUTHORIZING THE ISSUANCE THEREOF; (C)INDIAN TREATV OR ABORIGINAL RIGHTS, INCLUDING, BUT NOT LIMITED TO, EASEMENTS OR EQUITABLE SERVITUDES; OR, (D) WATER RIGHTS, CLAIMS OR TITLE TO WATER, WHETHER OR NOT THE MATTERS EXCEPTED UNDER (A), (B), (C) OR (D) ARE SHOWN BY THE PU BL]C RECORDS. ~. REAL ESTATE EXCISE TAX PURSUANT TO THE AUTHORITY GE RCW CHAPTER 82.45 AND SUBSEQUENT AMENDMENTS THERETO. AS OF THE DATE HEREIN, THE TAX RATE FOR SAID PROPERTY :5 1.53% FOR ALL TRANSACTIONS RECORDED ON OR AFTER JULY 1, 2005 • A FEE OF $10.00 WILL BE CHARGED ON ALL EXEMPT TRANSACTIONS; • A FEE OF $5.00 WILL BE CHARGED ON ALL TAXABLE TRANSACTIONS IN ADDITION TO THE EXCISE TAX DUE; 3. GENERAL PROPERTY TAXES AND SERVICE CHARGES, AS FOLLOWS, TOGETHER WITH INTEREST, PENALTY AND STATUTORY FORECLOSURE COSTS, IF ANY, AFTER DELINQUENCY: (1ST HALF DELINQUENT ON MAY 1; 2ND HALF DELINQUENT ON NOVEMBER 1) TAX ACCOUNT NO.: 64303500200 YEAR BILLED PAID BALANCE 2007 $4,268.46 $2,134.23 $2,134.23 THE CURRENT LEVY CODE IS 170. 4. LIABILITY FOR SUPPLEM ENTAL TAXES FOR IM PROVENIENTS WHICH HAVE RECENTLY BEEN CONSTRUCTED ON THE LAND. LAND IMPROVEMENTS ARE NOT PRESENTLY ASSESSED, BUT MAY APPEAR ON FUTURE ROLLS. 3974466 Page 3 gf 6 1129/2o0~ 0012 GM Plal Cartl t, mte iFUrston County Washington CITY OF YEL11 IIIIIII III IIIIII IIII IIIIII IIII IIIIIII IIIIII IIII IIII VIII VIII IIIIIII III VIII VIII IIII IIII Subdivision Guarantee Page 2 of 5 GNT004 Order NO20299286 DEED OF TRUST AND THE TERMS AND CONDITIONS THEREOF GRANTOR: BROCKTON CONSTRUCTION, LLC, A WASHINGTON LIMITED LIABILITY COMPANY TRUSTEE: TIMBERLAND SERVICE CORPORATION BENEFICIARY: TIMBERLAND BANK ORIGINAL AMOUNT: $1,978,000.00 DATED: JULY 27, 2006 RECORDED: JULY 27, 2006 RECORDING NO.: 3852082 6. NOTICE AND THE TERMS AND CONDITIONS THEREOF: RECORDED: ~ MARCH 30,2005 RECORDING NO.: 3719811 REGARDING: NOTICE OF FURNISHING PROFESSIONAL SERVICES 7. DEED OF TRUST AND THE TERMS AND CONDITIONS THEREOF: GRANTOR: BROCKTON CONSTRUCTION, LLC e - TRUSTEE: TIMBERLAND SERVICE CORPORATION c = BENEFICIARY: TIMBERLAND BANK _ a ORIGINAL AMOUNT: $20,000.00 m~ DATED: APRIL 2, 2007 i RECORDED: APRIL 3, 2007 ~ RECORDING NO.: 3915819 _ 8. DEED OF TRUST AND THE TERMS AND CONDITIONS THEREOF: ~ _ GRANTOR: BROCKTON CONSTRUCTION, LLC ~ TRUSTEE: TIMBERLAND SERVICE CORPORATION _ BENEFICIAR`!: ?IM BERLAND BANK ORIGINAL AMOUNT: $800,000.00 DATED: MAV 30, 200? RECORDED'. MAY 31, 2007 ""> RECORDING NO.: 3931054 m ° v m h ~n~. n 9. ALL COVENANTS, CONDITIONS, RESTRICTIONS, RESERVATIONS, EASEMENTS OR OTHER =~~ SERVITUDES, IF ANY, DISCLOSED BY THE PLAT OF MCKEN NA IRRIGATED TRACTS RECORDED IN BOOK 9 OF PLATS, PAGES 43 AND 44. THIS POLICY DOES NOT INSURE THAT THE LAND DESCRIBED IN SCHEDULE A IS BENEFITED BY EASEMENTS, COVENANTS OR OTHER APPURTENANCES SHOWN ON THE PLAT OR SURVEY TO BENEF IT OR BURDEN REAL PROPERTY OUTSIDE THE BOUNDARIES OF SAID LAND. 10. EASEMENT AND THE TERMS AND CONDITIONS THEREOF: GRANTEE: PUGET SOUND POWER AND LIGHT COMPANY, A WASHINGTON CORPORATION PURPOSE: ELECTRIC TRANSMISSION AND/OR DISTRIBUTION SYSTEM AREA AFFECTED: A PORTION OF SAID PREMISES RECORDED: JUNE 4,1986 RECORDING NO.: 8606040113 11. ORDINANCE NO. 607 AND THE TERMS AND CONDITIONS THEREOF' RECORDEG: SEPTEhBER 3, i998 RECORDING NO.: 3176833 REGARDING: ULID Subdivision Guarantee Page 3 of 5 GNT004 Order NO20299286 12. ORDINANCE NO. 831 AND THE TERMS AND CONDITIONS THEREOF: RECORDED: AUGUST 15,2005 RECORDING NO.: 3757727 REGARDING: ANNEXATION 13. MITIGATION AGREEMENT AND THE TERMS AND CONDITIONS THEREOF: RECORDED: APRIL 18, 2007 RECORDING NO.: 3919688 REGARDING: PAYMENT BY DEVELOPER TO YELM COMMUNITY SCHOOLS IN ORDER TO MITIGATE THE IMPACT ON THE SCHOOL DISTRICT OF ADDITIONAL STUDENTS WHICH WILL 8E GENERATED BY THE SUBDIVISION DESCRIBED HEREIN. THURSTON COUNTY WILL NOT ISSUE A BUILDING PERMIT FOR ANY LOT WITHOUT PROOF OF PAYMENT OF THE SUMS REQUIRED UNDER SAID AGREEMENT. 3974466 Page 5 of 6 in~~: io~©c ©,°,t v~wasn.ng ro~c~ar ce~urioaea crrr ov vin ~I~~ ~ ~~~~~ ~~~~ ~~~III III ~~~ ~I~I~~ I~~~ ~~ ~~~I ~~~~~ ~~~~~ II~ ~~ ~~ III ~~~ Subdivision Guarantee Page 4 of 5 GNT004 Order No.: 20299286 EXHIBIT"A" LOT 2 IN BLOCK 35 OF MCKENNA IRRIGATED TRACTS, AS PER PLAT RECORDED IN VOLUME 9 OF PLATS, PAGES 43 AND 44, RECORDS OF THE THURSTON COUNTY AUDITOR; SITUATE IN THE CITY OF YELM, COUNTY OF THURSTON, STATE OF WASHINGTON. 3974466 Page 6 of 6 11 R9R0~] 06.1 PM Plat GerUfica le TM1Urx ton LoUnIY WaSM1ington CILY OF YELL (IIIIII III IIIIII IIII IIIIII IIII (IIIIII IIIIII IIII IIII VIII VIII (IIIIII III VIII VIII IIII IIII