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20130374 Title Insurance 12312013 ALTA Commitment(6/17/06) ALTA Commitment Form COMMITMENT FOR TITLE INSURANCE Issued by STEWART TITLE GUARANTY COMPANY STEWART TITLE GUARANTY COMPANY, a Texas Corporation ("Company"), for a valuable consideration, commits to issue its policy or policies of title insurance, as identified in Schedule A, in favor of the Proposed Insured named in Schedule A, as owner or mortgagee of the estate or interest in the land described or referred to in Schedule A, upon payment of the premiums and charges and compliance with the Requirements; all subject to the provisions of Schedules A and B and to the Conditions of this Commitment. This Commitment shall be effective only when the identity of the Proposed Insured and the amount of the policy or policies committed for have been inserted in Schedule A by the Company. All liability and obligation under this Commitment shall cease and terminate six months after the Effective Date or when the policy or policies committed for shall issue,whichever first occurs, provided that the failure to issue the policy or policies is not the fault of the Company. The Company will provide a sample of the policy form upon request. This Commitment shall not be valid or binding until countersigned by a validating officer or authorized signatory. IN WITNESS WHEREOF, Stewart Title Guaranty Company has caused its corporate name and seal to be affixed by its duly authorized officers on the date shown in Schedule A. Countersigned by: ��w�l� ;r��- t��—�—' title �uaranty company Mlatt Nlorris �c�,riz�d�uurrter�ignatu�� '��e� President and CEtJ �.�^�>..;�,�., ��,v`� �oavo,a�,"��.�� Stewart Title Company � �. �-,� '� � 18000 International Blvd, Suite 401 �`�' t�°° ��_ ::�'� ''-� s � . SeaTac, WA 98188 ��p�� (206) 770-8700 '`""�'�" � Denise C rraux Secretary Copyright 2006-2009 American Land Title Assoclatlon. All rights reserved. � The use of this Form is restricted to ALTA licensees and ALTA members in good standing as of the date of use. ''hi°°}�`��' All other uses are prohibited. Reprinted under license from the American Land Title Association. � `""` `'"�� ,..i+.:aY Ir:h File No.01148-25916 004-UN ALTA Commitment(6/17/06) CONDITIONS 1. The term mortgage,when used herein, shall include deed of trust,trust deed,or other security instrument. 2. If the proposed Insured has or acquired actual knowledge of any defect, lien, encumbrance, adverse claim or other matter affecting the estate or interest or mortgage thereon covered by this Commitment other than those shown in Schedule B hereof, and shall fail to disclose such knowledge to the Company in writing,the Company shall be relieved from liability for any loss or damage resulting from any act of reliance hereon to the extent the Company is prejudiced by failure to so disclose such knowledge. If the proposed Insured shall disclose such knowledge to the Company, or if the Company otherwise acquires actual knowledge of any such defect, lien, encumbrance, adverse claim or other matter, the Company at its option may amend Schedule B of this Commitment accordingly, but such amendment shall not relieve the Company from liability previously incurred pursuant to paragraph 3 of these Conditions. 3. Liability of the Company under this Commitment shall be only to the named proposed Insured and such parties included under the definition of Insured in the form of policy or policies committed for and only for actual loss incurred in reliance hereon in undertaking in good faith (a) to comply with the requirements hereof, or (b) to eliminate exceptions shown in Schedule B, or (c) to acquire or create the estate or interest or mortgage thereon covered by this Commitment. In no event shall such liability exceed the amount stated in Schedule A for the policy or policies committed for and such liability is subject to the insuring provisions and Conditions and the Exclusions from Coverage of the form of policy or policies committed for in favor of the proposed Insured which are hereby incorporated by reference and are made a part of this Commitment except as expressly modified herein. 4. This Commitment is a contract to issue one or more title insurance policies and is not an abstract of title or a report of the condition of title. Any action or actions or rights of action that the proposed Insured may have or may bring against the Company arising out of the status of the title to the estate or interest or the status of the mortgage thereon covered by this Commitment must be based on and are subject to the provisions of this Commitment. 5. The policy to be issued contains an arbitration clause. All arbitrable matters when the Amount of Insurance is $2,000,000 or less shall be arbitrated at the option of either the Company or the Insured as the exclusive remedy of the parties. You may review a copy of the arbitration rules at<http.//www.alta.or�h. All notices required to be given the Company and any statement in writing required to be furnished the Company shall be addressed to it at P.O. Box 2029, Houston,Texas 77252. Copyrlght 2006-2009 American Land Tltle Association. All rights reserved. � The use of this Form is restricted to ALTA licensees and ALTA members in good standing as of the date of use. ',}g��`��"a'� All other uses are prohibited. Reprinted under license from the American Land Title Association. +°a�'"�� .,.,a:asu�;� File No.01148-25916 004-UN ALTA Commitment(6/17/06) �.,,��i�� Stewart Title Company ",j� 300 Deschutes Way SW,Suite 300 Tumwater,WA 98501 Phone: (360) 357-8877 Order Number: 01148-25916 Title Officer: Regina Jaggers Phone: (360) 596-4394 Email: regina.jaggers@stewart.com Customer Reference: K Petersen Properties/To Be Determined Second Report-Update and add buyer SCHEDULE A 1. Effective Date: November 26, 2013 at 8:00 AM 2. Policy Or Policies To Be Issued: (X)ALTA OWNER'S POLICY, (6/17/06) Amount: $184,000.00 (X) STANDARD ( ) EXTENDED (Underwriting fee- 11%) Premium: $610.00 Tax: $53.07 Total: $663.07 Proposed Insured: Tom Luey and Patricia Luey, husband and wife (X) �ALTA EXTENDED LOAN POLICY (6/17/06) Amount: To Be Determined (Underwriting fee- 11%) Premium: Tax: Total: Proposed Insured: To be determined 3. The estate or interest in the land described or referred to in this Commitment and covered herein is: Fee Simple 4. Title to said estate or interest in said land is at the effective date hereof vested in: Le Vince Group �LC. a Washinc�ton limited liability company 5. The land referred to in this commitment is described as follows: SEE EXHIBIT"A"ATTACHED HERETO EXHIBIT "A" LEGAL DESCRIPTION LOTS 5 AND 6 IN BLOCK 9 OF MCKENZIE'S SECOND ADDITION TO YELM, AS PER PLAT RECORDED IN VOLUME 8 OF PLATS, PAGE 104, RECORDS OF THURSTON COUNTY AUDITOR; SITUATE IN THE COUNTY OF THURSTON, STATE OF WASHINGTON. COMMITMENT FOR TITLE INSURANCE SCHEDULE B Part 1 Schedule B of the policy or policies to be issued will contain exceptions to the following matters unless the same are disposed of to the satisfaction of the Company: GENERAL EXCEPTIONS A. Taxes or assessments which are not shown as existing liens by the public records. B. (i) Unpatented mining claims; (ii) reservations or exceptions in patents or in Acts authorizing the issuance thereof; (iii) water rights, claims or title to water; whether or not the matters described (i), (ii) & (iii) are shown in the public records; (iv) Indian tribal codes or regulations, Indian treaty or aboriginal rights, including easements or equitable servitudes. C. Extended coverage exceptions as follows: (1) Rights or claims of parties in possession not shown by the public records. (2) Easements, claims of easement or encumbrances which are not shown by the public records. (3) Encroachments, overlaps, boundary line disputes, or other matters which would be disclosed by an accurate survey and inspection of the premises and which are not shown by the public records. (4) Any lien, or right to a lien, for services, labor or material heretofore or hereafter furnished imposed by law and not shown by the public records. D. Any service, installation, connection, maintenance, tap, capacity, construction or reimbursement charges for sewer, water, electricity or other utilities, or for garbage collection and disposal. E. Defects, liens, encumbrances, adverse claims or other matters, if any, created, first appearing in the public records or attaching subsequent to the effective date hereof but prior to the date the proposed insured acquires of record for value the estate or interest or mortgage thereon covered by this commitment. F. Any titles or rights asserted by anyone, including but not limited to persons, corporations, governments, or other entities, to tidelands, or lands comprising the shores or bottoms of navigable rivers, lakes, bays, ocean or gulf, or lands beyond the line of the harbor or bulkhead lines as established or changed by the United States Government, or riparian rights, if any. SPECIAL EXCEPTIONS FOLLOW COMMITMENT FOR TITLE INSURANCE SCHEDULE B Part I SPECIAL EXCEPTIONS 1. Payment of Real Estate Excise Tax, if required. The property described herein is situated within the boundaries of local taxing authority of the City of Yelm. Present Rate of Real Estate Excise Tax as of the date herein is 1.53%and the levy code is 170. 2. General taxes: First half delinquent May 1; Second half delinquent November 1: Year: 2013 Amount Billed: $3,100.24 Amount Paid: $1,550.12 Amount Due: $1,550.12, plus interest and penalty if delinquent Tax Account No.: 6442-09-00500 Levy Code: 170 Land: $115,800.00 Improvements: $97,800.00 3. Deed of Trust and the terms and conditions thereof: Grantor: Kellie Petersen, as her separate property Trustee: Pioneer Title Company Beneficiary: Washington Business Bank Amount: $343,133.07 Dated: November 5, 2002 Recorded: November 6, 2002 Recording No.: 3476043 The amount now secured by said Deed of Trust and the terms upon which the same can be discharged or assumed should be ascertained from the holder of the indebtedness secured. Note: We find no release of record for said instrument. 4. Deed of Trust, Security Agreement and Fixture Filing and the terms and conditions thereof: Grantor: Le Vince Group, LLC, a Limited Liability Company Trustee: Transnation Title Insurance Company Beneficiary: Anchor Bank Amount: $164,000.00 Dated: December, 2005 Recorded: December 23, 2005 Recording No.: 3795822. 3795823. 3795824 The amount now secured by said Deed of Trust and the terms upon which the same can be discharged or assumed should be ascertained from the holder of the indebtedness secured. 5. Assignment of Leases and Rents given for security, and the terms and conditions thereof: Assignor: Le Vince Group, LLC, a Washington Limited Liability Company Assignee: Anchor Bank Recorded: December 23, 2005 Recording No.: 3795825 6. Deed of Trust and the terms and conditions thereof: ' Grantor: Le Vince Group, LLC, a Washington limited liability company Trustee: Transnation Title Insurance Company Beneficiary: K. Petersen Properties, LLC, as her separate estate Amount: $41,000.00 Dated: December 19, 2005 Recorded: December 23, 2005 Recording No.: 3795826 The amount now secured by said Deed of Trust and the terms upon which the same can be discharged or assumed should be ascertained from the holder of the indebtedness secured. 7. Any unrecorded leaseholds, right of vendors and holders of security interest on personal property installed upon said property, and right of tenants to remove trade fixtures at the expiration of the term. 8. The attached Commercial Title Affidavit must be completed in full, notarized, and submitted to the Company for review prior to closing. 9. Terms and conditions of the limited liability company agreement for Le Vince Group LLC, a Washington limited liability company. 10. Evidence of the authority of the individual(s)to execute the forthcoming document(s)for Le Vince Group LLC, a Washington limited liability company, copies of the current operating agreement should be submitted prior to closing. 11. Any conveyance or mortgage by Le Vince Group LLC, a Washington limited liability company, must be executed by all of the members or managers as of the date of acquisition or evidence submitted that certain designated members or managers have been authorized to act for the Limited Liability Company. 12. Upon examination it has been determined that the subject property does not meet the underwriting qualifications to receive the coverage provided in the ALTA Homeowner's Policy of Title Insurance for a one-to four-family residence, due to the following condition: Not a one-to four-family residence. The coverage provided for the subject property will be the Standard ALTA Owner's Policy. The Policy and any applicable endorsements will be issued at the filed rate. 13. Restrictions, easements, dedications, and delineated matters contained on the face of the Plat of MCKENZIE'S SECOND ADDITION TO YELM, according to the plat thereof, recorded in Volume 8 of Plats, page 104, and any amendments thereto. 14. Easement and the terms and conditions thereof: Grantee: City of Yelm Purpose: Sanitary sewer system and related rights Affects: Parcel A Recorded: March 16, 1993 Recording No.: 9303160327 15. Agreement, Waiver of Protest and Special Power of Attorney and the terms and conditions thereof: Recorded: November 11, 1994 Recording No.: 9411140107 Regarding: Construction of sidewalks along the west side of 4th street for the entire property frontage. This includes any road improvements or drainage that may be needed to accommodate the improvement. Affects: Lots 9 and 10 of Parcel B END OF SPECIAL EXCEPTIONS COMMITMENT FOR TITLE INSURANCE SCHEDULE B Part II The following are the requirements to be complied with: Item (a) Payment to or for the account of the grantors or mortgagors of the full consideration for the estate or interest to be insured. Item (b) Proper instrument(s) creating the estate or interest to be insured must be executed and duly filed for record. Note: Effective January 1, 1997, and pursuant to amendment of Washington state statutes relating to standardization of recorded documents, the following format and content requirements must be met. Failure to comply may result in rejection of the document by the recorder. Format: Margins to be 3" on top of first page, 1" on sides and bottom, 1" on top, sides and bottom of each succeeding page. Font size of 8 points or larger and paper size of no more than 8 '/2" by 14". No attachments on pages such as stapled or taped notary seals, pressure seals must be smudged. Information which must appear on the first page: Title or titles of document. If assignment or reconveyance, reference to auditor's file number or subject deed of trust. Names of grantor(s) and grantee(s)with reference to additional names on following page(s), if any. Abbreviated legal description (lot, block, plat name or section, township, range and quarter quarter section for unplatted). Assessor's tax parcel number(s). Return address which may appear in the upper left hand 3"top margin. COMMITMENT FOR TITLE INSURANCE SCHEDULE B Part II NOTES: NOTE A: In order to assure timely recording all recording packages should be sent to: Stewart Title Company 300 Deschutes Way SW, Suite 300, Tumwater, WA 98501 Attn: Recorder NOTE B: The description can be abbreviated as suggested below if necessary to meet standardization requirements. The full text of the description must appear in the document(s)to be insured. Lots 5 &6 Block 9 McKenzie's Second Addition to Yelm NOTE C: Please be advised that extended coverage, which would delete paragraphs C, E and F from Schedule B Part 1 to this Commitment, is available for an additional charge (additional underwriting requirements may also apply). Advise your title officer in writing if you desire extended coverage. NOTE D: The records of Thurston County and/or our inspection indicate that the address of the improvement located on said land is 309 NE Jefferson Avenue NE, Yelm, WA 98597. NOTE E: In the event of cancellation, a cancellation charge may be made. NOTE F: There are no deeds affecting said land recorded within 24 months of the date of this report. NOTE G: We find no pertinent matters filed or recorded against Tom Luey and Patricia Luey, husband and wife, proposed insured purchasers. cb/rj END OF SCHEDULE B �stew�l''t y�rP:- N title &escrow 300 Deschutes Way SW,Suite 300 l�L' E Tumwater,WA 98501 (360)357-7067 _ S ��-., �� Frr�� . `'�„ :3Ep��[� '`✓ " �97!M�tO . ,I►��+17 � * � �.r�!•. rri �y il � . �* � .�41.0.' � �' ��11OQ {J7!'dAc� �f 1.r,1k � ' 7laVl�;'� .�/� . � .td'r� �f ark��. � 5��,. t�. pY�;U /' �'�• �+• ,yh ;Jis . 'f'p .4a(I; $� �d ,d; � {q4i0 ' ' .: . f ,y,.o �.,�,n� � r.a7;�� •...,�� irr« n� � ��a .+�'�� , . ��'nI{n �N7S;r,t '��1')ai� r^"t,� .� CttJ�)+) � P�11!Ifl � �� ,�.. . �.- �t�rii IXJ'I!IIl �U7 r� �iK13if4 •""• Il�� :M;qi �S111P v,. � � �,,,�a, .: �'`�A�.� �wr, ' ' 015C11 �'�rr. .�� rrru�i: a • �;riu` �Jlpikk. G4�d 7Y�Aa `�o u�.i 49�G� * '"rrr ' 3'E(:1��71 � �vt. ... . A.�'Afti . � f.![inl ..3E�i r^f r� . y � eY'�U ,�. :df3ii if�.'r w� �'r A rN" fAlNJ(1 R1i!Y-0 q. �F � M �iF � '�' ,,J�� lllA';t . . 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"a. . 1 This Sketch is provided as a courtesy for the sole purpose of assisting in locating the subject property and no liability is assumed for inaccuracies within the sketch. Reference should be made to a survey for further information. �� v�� AND STATEMENT UNDER OATH REGARDING POSSESSION AND REPAIRS OR ALTERATIONS Given to Stewart Title Guaranty Company and/or its duly authorized agent, Stewart Title Company, where the policy issued by that agent, in consideration of their issuance of a policy or policies of title insurance. Regarding property described as: PARCEL A: LOTS 5 AND 6 IN BLOCK 9 OF MCKENZIE'S SECOND ADDITION TO YELM, AS PER PLAT RECORDED IN VOLUME 8 OF PLATS, PAGE 104, RECORDS OF THURSTON COUNTY AUDITOR; PARCEL B: LOTS 7, 8, 9, 10, 11, AND 12 IN BLOCK 9 OF MCKENZIE'S SECOND ADDITION TO YELM, AS PER PLAT RECORDED IN VOLUME 8 OF PLATS, PAGE 104, RECORDS OF THURSTON COUNTY AUDITOR; SITUATE IN THE COUNTY OF THURSTON, STATE OF WASHINGTON. UNDER OATH, I/We state that: A. At this date, there are no parties in possession, or with right to possession, or with any future right to possession of the property, except (list commercial tenants): Further there are no unrecorded rights of first refusal nor options to purchase. B. No repairs or alterations have been made on the property during the 90 days preceding this statement, except: If none, check here ( ). I further agree to indemnify Stewart Title Guaranty Company, or its agent, and save you harmless from any loss you may sustain as a result of issuing your policy of title insurance based upon the above representations, and agree that, in case you or your insured is named in a suit based upon facts which are inconsistent to the above representations, we will pay, at our own expense, any resulting judgment and all costs and attorney's fees associated therewith. Dated: Owner Owner STATE OF ) ) SS. COUNTY OF ) Subscribed and sworn to before me the date shown above. Notary Public My commission Expires: