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HomeMy WebLinkAboutExhibit 14 - Title Report CHICAGO TITLE INSURANCE COMPANYe Chicago Title National Commercial Services NATIONAL COMMERCIAL SERVIUS Guarantee File No.: 260279-SC Title Officer: Team Zeke Welcome to the new titleLOOK®! in .._.......,........ titleLOOK upgrades the traditional title report experience from a static report with large zip files of supporting documents to a real-time interactive title report. 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SUBDIVISION Guarantee/Certificate Number: Issued By: CHICAGO TITLE 260279-SC INSURANCE COMPANY CHICAGO TITLE INSURANCE COMPANY a corporation, herein called the Company GUARANTEES MJS Investors herein called the Assured, against actual loss not exceeding the liability amount stated in Schedule A which the Assured shall sustain by reason of any incorrectness in the assurances set forth in Schedule A. LIABILITY EXCLUSIONS AND LIMITATIONS 1. 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 to the validity, legal effect or priority of any matter shown therein. 2. The Company's liability hereunder shall be limited to the amount of actual loss sustained by the Assured because of reliance upon the assurance herein set forth, but in no event shall the Company's liability exceed the liability amount set forth in Schedule A. Please note carefully the liability exclusions and limitations and the specific assurances afforded by this guarantee. If you wish additional liability, or assurances other than as contained herein, please contact the Company for further information as to the availability and cost. Chicago Title Insurance Company By: Chicago Title Company of Washington 701 5th Avenue, Suite 2700 Seattle, WA 98104 Michael J. Nolan, President Countersigned By: {`NS1.'`?�v�F Attest: c°t'oa 4F 1 ot. wry- J S AL t Joe Knipp Marjorie Nemzura, Secretary Authorized Officer or Agent Subdivision Guarantee/Certificate Printed: 02.03.26 @ 03:29 AM Page 1 WA-CT-FBCM-02150.622476-SPS-1-26-260279-SC CHICAGO TITLE INSURANCE COMPANY GUARANTEE/CERTIFICATE NO. 260279-SC ISSUING OFFICE: Title Officer: Team Zeke Chicago Title Company of Washington 701 5th Avenue, Suite 2700 Seattle, WA 98104 Main Phone: (206)628-5610 Email: TeamZeke@ctt.com SCHEDULE A Liability Premium Tax $1,000.00 $500.00 $52.75 Effective Date: January 26, 2026 at 08:00 AM The assurances referred to on the face page are: That, according to those public records which, under the recording laws, impart constructive notice of matter relative to the following described property: SEE EXHIBIT "A"ATTACHED HERETO AND MADE A PART HEREOF Title to said real property is vested in: Lindsay Investments, LLC, a Washington limited liability company, as to Parcel A; and The Heirs and Devisees of Virl Basim, deceased; and Dianna M. Basim, as her separate estate, as their interests may appear, as to Lot 1; John James Markezinis and Kelly J. Markezinis, husband and wife, as to Lots 5 and 6; and Joe Stephen Matthias and Patricia Anne Matthias, husband and wife, as to Lot 7 (All as to Parcel B) subject to the matters shown below under Exceptions, which Exceptions are not necessarily shown in the order of their priority. END OF SCHEDULE A Subdivision Guarantee/Certificate Printed: 02.03.26 @ 03:29 AM Page 2 WA-CT-FBCM-02150.622476-SPS-1-26-260279-SC EXHIBIT "A" Legal Description Parcel A: The west half of the west half of the northwest quarter of the northwest quarter of Section 25, Township 31 North, Range 5 East, W.M., in Snohomish County, Washington; Except therefrom any portion within 172nd Street NE (Sisco Heights Road). Parcel B: Lots 1, 5, 6 and 7, Large Tract Segregation, recorded under recording number 9003160385, being a portion of the northeast quarter of the northeast quarter of Section 26, Township 31 North, Range 5 East, W.M., in Snohomish County, Washington; Except any portion within county road known as 172nd Street N.E. Subdivision Guarantee/Certificate Printed: 02.03.26 @ 03:29 AM Page 3 WA-CT-FBCM-02150.622476-SPS-1-26-260279-SC CHICAGO TITLE INSURANCE COMPANY GUARANTEE/CERTIFICATE NO. 260279-SC SCHEDULE B GENERAL EXCEPTIONS H. Reservations and exceptions in United States Patents or in Acts authorizing the issuance thereof. SPECIAL EXCEPTIONS The following exceptions affect Parcel A: 1. Easement(s)for the purpose(s) shown below and rights incidental thereto, as granted in a document: Granted to: Public Utility District No. 1 of Snohomish County Purpose: Electric transmission and/or distribution line Recording Date: December 2, 1977 Recording No.: 7712020344 Affects: Portion of said premises 2. Any rights, interests, or claims which may exist or arise by reason of the following matters disclosed by survey: Job No.: 24-21 Dated: May 23, 2024, last revised June 11, 2024 Prepared by: North Peak Associates LLC Matters shown: a.)Variations between locations of fences and lines of record description; b.)Wetland areas located in portions of subject premises. 3. General and special taxes and charges, payable February 15, delinquent if first half unpaid on May 1, second half delinquent if unpaid on November 1 of the tax year(amounts do not include interest and penalties): Year: 2026 Tax Account No.: 310525-002-006-00 Levy Code: 00110 Assessed Value-Land: $470,800.00 Assessed Value-Improvements: $145,500.00 General and Special Taxes: Billed: Not available Paid: $0.00 Unpaid: Not available Taxes for 2025 in the amount of$4,758.82 are paid. 4. Memorandum of Real Estate Purchase and Sale Agreement and the terms and conditions thereof: Grantor: Lindsay Investments LLC, a Washington limited liability company Grantee: MJS Investors Acquisition, LLC, a Washington limited liability company Recording Date: September 10, 2024 Recording No.: 202409100260 5. The search did not disclose any open mortgages or deeds of trust of record, therefore the Company reserves the right to require further evidence to confirm that the property is unencumbered, and further reserves the right to make additional requirements or add additional items or exceptions upon receipt of the requested evidence. Subdivision Guarantee/Certificate Printed: 02.03.26 @ 03:29 AM Page 4 WA-CT-FBCM-02150.622476-SPS-1-26-260279-SC CHICAGO TITLE INSURANCE COMPANY GUARANTEE/CERTIFICATE NO. 260279-SC SCHEDULE B (continued) The following exceptions affect Lot 1 of Parcel B: 6. Easement(s)for the purpose(s) shown below and rights incidental thereto, as granted in a document: Purpose: Road and utility purposes Recording Date: October 5, 1960 Recording No.: 1423077 Affects: Portion of said premises 7. Easement(s)for the purpose(s) shown below and rights incidental thereto, as granted in a document: Purpose: Ingress, egress and utilities Recording Date: August 18, 1977 Recording No.: 7708180120 Affects: Portion of said premises 8. Easement(s)for the purpose(s) shown below and rights incidental thereto, as granted in a document: Purpose: Ingress, egress and utilities Recording Date: April 29, 1991 Recording No.: 9104290759 Affects: Portion of said premises Said instrument is a rerecording of instrument recorded under recording number 9006190629. 9. Easement(s)for the purpose(s) shown below and rights incidental thereto, as granted in a document: Granted to: Puget Sound Energy, Inc. Purpose: Distribution and sale of gas Recording Date: April 29, 2019 Recording No.: 201904290420 Affects: Portion of said premises 10. Any rights, interests, or claims which may exist or arise by reason of the following matters disclosed by survey: Job No.: 24-21 Dated: May 23, 2024, last revised June 11, 2024 Prepared by: North Peak Associates LLC Matters shown: a.)Variations between locations of fences and lines of record description; b.) Fence lies within 30' easement for ingress, egress and utilities under recording numbers 7708180120 and 9104290759; c.) Creek and culvert run through southwesterly portion of subject premises; d.) Electrical meter in northerly portion of subject premises without benefit of recorded easement; e.)Well and 100'well buffer in northeasterly portion of subject premises. 11. Any question that may arise due to shifting or change in the course, boundaries or high water line of creek or due to prior shifting or changing of the course, boundaries or high water line; and rights of the State of Washington and/or the Stillaguamish Tribe of Indians in and to that portion of said Land, if any, lying in the bed or former bed of creek. Subdivision Guarantee/Certificate Printed: 02.03.26 @ 03:29 AM Page 5 WA-CT-FBCM-02150.622476-SPS-1-26-260279-SC CHICAGO TITLE INSURANCE COMPANY GUARANTEE/CERTIFICATE NO. 260279-SC SCHEDULE B (continued) 12. Any prohibition or limitation of use, occupancy or improvement of the Land resulting from the rights of the public or riparian owners to use any portion which is now or was formerly covered by water. 13. General and special taxes and charges, payable February 15, delinquent if first half unpaid on May 1, second half delinquent if unpaid on November 1 of the tax year(amounts do not include interest and penalties): Year: 2026 Tax Account No.: 310526-001-002-00 Levy Code: 00110 Assessed Value-Land: $423,700.00 Assessed Value-Improvements: $406,500.00 General and Special Taxes: Billed: Not available Paid: $0.00 Unpaid: Not available Taxes for 2025 in the amount of$8,534.42 are paid. 14. A deed of trust to secure an indebtedness in the amount shown below, Amount: $650,000.00 Trustor/Grantor: Virl Basim and Dianna M. Basim, husband and wife Trustee: Northwest Trustee Beneficiary: Bank of America Recording Date: April 24, 2008 Recording No.: 200804240336 By various assignments, the beneficial interest thereunder is now held of record in: Assignee: Bank of America Recording Date: July 11, 2013 Recording No.: 201307110014 15. Memorandum of Real Estate Purchase and Sale Agreement and the terms and conditions thereof: Grantor: Dianna M. Basim, as her separate estate Grantee: MJS Investors Acquisition, LLC Recording Date: September 10, 2024 Recording No.: 202409100258 16. A deed of trust to secure an indebtedness in the amount shown below Amount: $65,000.00 Dated: September 11, 2024 Trustor/Grantor: Diana Basim Trustee: Chicago Title Insurance Company Beneficiary: MJS Investors Acquisition, LLC Recording Date: September 12, 2024 Recording No.: 202409120347 Subdivision Guarantee/Certificate Printed: 02.03.26 @ 03:29 AM Page 6 WA-CT-FBCM-02150.622476-SPS-1-26-260279-SC CHICAGO TITLE INSURANCE COMPANY GUARANTEE/CERTIFICATE NO. 260279-SC SCHEDULE B (continued) An agreement to modify the terms and provisions of said deed of trust as therein provided: Recording Date: August 15, 2025 Recording No.: 202508150397 17. It appears Virl Basim is deceased. The Company finds no probate of the decedent's estate in Snohomish County. This commitment is therefore subject to the rights of heirs and devisees, creditors (including liens under RCW 43.20B.080), liability for inheritance tax, or other matters that a probate of the estate might disclose. If we are requested to insure title passing outside of probate, the Company will require the following: a. Completed, signed and acknowledged Lack of Probate Affidavits (both the Company's internal underwriting version and the shorter version for recording). b. A certified copy of the Death Certificate. c. A copy of the Community Property Agreement, if any. d. A copy of the decedent's Will and codicils, if any. e. A Real Estate Excise Tax Affidavit executed by the inheriting party(ies), to file at the time of recording the Lack of Probate Affidavit, as required by WAC 458-61A-202(6). The Company reserves the right to make additional requirements upon review. 18. Possible lien against the estate of Virl Basim, deceased, in favor of the State of Washington, Department of Social and Health Services, for recovery of costs of medical care provided, if any. 19. The lien of any state or federal estate tax by reason of the death of a former owner of said Land: Decedent: Virl Basim The following exceptions affect Lot 5 of Parcel B: 20. Any rights, interests, or claims which may exist or arise by reason of the following matters disclosed by survey: Job No.: 24-21 Dated: May 23, 2024, last revised June 11, 2024 Prepared by: North Peak Associates LLC Matters shown: a.)Variations between locations of fences and lines of record description; b.)Wetland areas located in portions of subject premises; c.) Easement for ingress, egress and utilities providing record access to said premises shown as Parcel B herein is not opened or used as practical access. Subdivision Guarantee/Certificate Printed: 02.03.26 @ 03:29 AM Page 7 WA-CT-FBCM-02150.622476-SPS-1-26-260279-SC CHICAGO TITLE INSURANCE COMPANY GUARANTEE/CERTIFICATE NO. 260279-SC SCHEDULE B (continued) 21. General and special taxes and charges, payable February 15, delinquent if first half unpaid on May 1, second half delinquent if unpaid on November 1 of the tax year(amounts do not include interest and penalties): Year: 2026 Tax Account No.: 310526-001-022-00 Levy Code: 00112 Assessed Value-Land: $268,800.00 Assessed Value-Improvements: $0.00 General and Special Taxes: Billed: Not available Paid: $0.00 Unpaid: Not available Taxes for 2025 in the amount of$2,712.50 are paid. 22. A deed of trust to secure an indebtedness in the amount shown below Amount: $200,000.00 Dated: August 20, 2024 Trustor/Grantor: John Markezinis and Kelly Markezinis, a married couple Trustee: Chicago Title Insurance Company Beneficiary: MJS Acquisitions, LLC, a Washington limited liability company Recording Date: February 21, 2024 Recording No.: 202408210148 An agreement to modify the terms and provisions of said deed of trust as therein provided: Recording Date: October 15, 2025 Recording No.: 202510150286 The following exceptions affect Lot 6 of Parcel B: 23. Easement(s)for the purpose(s) shown below and rights incidental thereto, as granted in a document: Purpose: Road and utility purposes Recording Date: October 5, 1960 Recording No.: 1423077 Affects: Portion of said premises 24. Easement(s)for the purpose(s) shown below and rights incidental thereto, as granted in a document: Purpose: Ingress, egress and utilities Recording Date: August 18, 1977 Recording No.: 7708180120 Affects: Portion of said premises Subdivision Guarantee/Certificate Printed: 02.03.26 @ 03:29 AM Page 8 WA-CT-FBCM-02150.622476-SPS-1-26-260279-SC CHICAGO TITLE INSURANCE COMPANY GUARANTEE/CERTIFICATE NO. 260279-SC SCHEDULE B (continued) 25. Easement(s)for the purpose(s) shown below and rights incidental thereto, as granted in a document: Granted to: Public Utility District No. 1 of Snohomish County Purpose: Electric transmission and/or distribution line Recording Date: June 17, 1992 Recording No.: 9206170288 Affects: Portion of said premises 26. Formation of Improvement District and the terms and conditions thereof: Recording Date: September 17, 1996 Recording No.: 9609170399 27. Easement(s)for the purpose(s) shown below and rights incidental thereto, as granted in a document: Granted to: Public Utility District No. 1 of Snohomish County and GTE NW Purpose: Electric transmission and/or telephone distribution lines Recording Date: June 23, 2004 Recording No.: 200406230262 Affects: Portion of said premises 28. General and special taxes and charges, payable February 15, delinquent if first half unpaid on May 1, second half delinquent if unpaid on November 1 of the tax year(amounts do not include interest and penalties): Year: 2026 Tax Account No.: 310526-001-023-00 Levy Code: 00110 Assessed Value-Land: $454,800.00 Assessed Value-Improvements: $552,600.00 General and Special Taxes: Billed: Not available Paid: $0.00 Unpaid: Not available Taxes for 2025 in the amount of$9,013.50 are paid. 29. A deed of trust to secure an indebtedness in the amount shown below, Amount: $330,000.00 Trustor/Grantor: John J. Markezinis and Kelly J. Markezinis, husband and wife Trustee: Rainier Title Beneficiary: All Western Mortgage Recording Date: January 8, 2021 Recording No.: 202101080877 Subdivision Guarantee/Certificate Printed: 02.03.26 @ 03:29 AM Page 9 WA-CT-FBCM-02150.622476-SPS-1-26-260279-SC CHICAGO TITLE INSURANCE COMPANY GUARANTEE/CERTIFICATE NO. 260279-SC SCHEDULE B (continued) 30. A deed of trust to secure an indebtedness in the amount shown below Amount: $500,000.00 Dated: April 15, 2024 Trustor/Grantor: John J. Markezinis and Kelly J. Markezinis, husband and wife Trustee: Trustee Services, Inc. Beneficiary: Boeing Employees' Credit Union Recording Date: April 26, 2024 Recording No.: 202404260034 31. Memorandum of Real Estate Purchase and Sale Agreement and the terms and conditions thereof: Grantor: John Markezinis and Kelly Markezinis, a married couple Grantee: MJS Investor Acquisition, LLC Recording Date: August 21, 2024 Recording No.: 202408210147 32. A deed of trust to secure an indebtedness in the amount shown below Amount: $200,000.00 Dated: August 20, 2024 Trustor/Grantor: John Markezinis and Kelly Markezinis, a married couple Trustee: Chicago Title Insurance Company Beneficiary: MJS Acquisitions, LLC, a Washington limited liability company Recording Date: February 21, 2024 Recording No.: 202408210148 An agreement to modify the terms and provisions of said deed of trust as therein provided: Recording Date: October 15, 2025 Recording No.: 202510150286 The following exceptions affect Lot 7 of Parcel B: 33. Easement(s)for the purpose(s) shown below and rights incidental thereto, as granted in a document: Granted to: Puget Sound Energy, Inc. Purpose: distribution and sale of gas Recording Date: January 18, 2017 Recording No.: 201701180429 Affects: Portion of said premises Subdivision Guarantee/Certificate Printed: 02.03.26 @ 03:29 AM Page 10 WA-CT-FBCM-02150.622476-SPS-1-26-260279-SC CHICAGO TITLE INSURANCE COMPANY GUARANTEE/CERTIFICATE NO. 260279-SC SCHEDULE B (continued) 34. General and special taxes and charges, payable February 15, delinquent if first half unpaid on May 1, second half delinquent if unpaid on November 1 of the tax year(amounts do not include interest and penalties): Year: 2026 Tax Account No.: 310526-001-001-00 Levy Code: 00110 Assessed Value-Land: $436,600.00 Assessed Value-Improvements: $108,500.00 General and Special Taxes: General and Special Taxes: Billed: Not available Paid: $0.00 Unpaid: Not available Taxes for 2025 in the amount of$4,496.32 are paid. 35. Any rights, interests, or claims which may exist or arise by reason of the following matters disclosed by survey: Job No.: 24-21 Dated: May 23, 2024, last revised June 11, 2024 Prepared by: North Peak Associates LLC Matters shown: a.)Variations between locations of fences and lines of record description; b.)Well and 1 00'well buffer within subject premises. 36. The search did not disclose any open mortgages or deeds of trust of record, therefore the Company reserves the right to require further evidence to confirm that the property is unencumbered, and further reserves the right to make additional requirements or add additional items or exceptions upon receipt of the requested evidence. The following exceptions affect Parcel B: 37. Easement(s)for the purpose(s) shown below and rights incidental thereto, as granted in a document: Granted to: Public Utility District No. 1 of Snohomish County Purpose: Electric distribution line Recording Date: August 2, 1977 Recording No.: 7708020302 Affects: Portion of said premises 38. Covenants, conditions, restrictions, recitals, reservations, easements, easement provisions, encroachments, dedications, building setback lines, notes, statements, and other matters, if any, but omitting any covenants or restrictions, if any, including but not limited to those based upon race, color, religion, sex, sexual orientation, familial status, marital status, disability, handicap, national origin, ancestry, or source of income, as set forth in applicable state or federal laws, except to the extent that said covenant or restriction is permitted by applicable law, as set forth on Large Tract Segregation: Recording No: 9003160385 Subdivision Guarantee/Certificate Printed: 02.03.26 @ 03:29 AM Page 11 WA-CT-FBCM-02150.622476-SPS-1-26-260279-SC CHICAGO TITLE INSURANCE COMPANY GUARANTEE/CERTIFICATE NO. 260279-SC SCHEDULE B (continued) 39. Covenants, conditions, restrictions, recitals, reservations, easements, easement provisions, encroachments, dedications, building setback lines, notes, statements, and other matters, if any, but omitting any covenants or restrictions, if any, including but not limited to those based upon race, color, religion, sex, sexual orientation, familial status, marital status, disability, handicap, national origin, ancestry, or source of income, as set forth in applicable state or federal laws, except to the extent that said covenant or restriction is permitted by applicable law, as set forth on survey: Recording No: 9009195003 40. Easement(s)for the purpose(s) shown below and rights incidental thereto, as granted in a document: Granted to: Public Utility District No. 1 of Snohomish County Purpose: Electric transmission and/or distribution line Recording Date: December 2, 1977 Recording No.: 7712020344 Affects: Portion of said premises 41. Any rights, interests, or claims which may exist or arise by reason of the following matters disclosed by survey: Job No.: 24-21 Dated: May 23, 2024, last revised June 11, 2024 Prepared by: North Peak Associates LLC Matters shown: a.)Variations between locations of fences and lines of record description; b.)Wetland areas located in portions of subject premises. The following exceptions affect all Parcels: 42. Development Agreement, including the terms and provisions thereof: Executed by: MJS Investors Acquisition, LLC, a Washington limited liability company And: City of Arlington Recording Date: December 11, 2025 Recording No.: 202512110493 Affects: includes other property 43. Any unrecorded leaseholds, right of vendors and holders of security interests on personal property installed upon the Land and rights of tenants to remove trade fixtures at the expiration of the terms. Subdivision Guarantee/Certificate Printed: 02.03.26 @ 03:29 AM Page 12 WA-CT-FBCM-02150.622476-SPS-1-26-260279-SC CHICAGO TITLE INSURANCE COMPANY GUARANTEE/CERTIFICATE NO. 260279-SC SCHEDULE B (continued) Note: FOR INFORMATIONAL PURPOSES ONLY: The following may be used as an abbreviated legal description on the documents to be recorded, per Amended RCW 65.04.045. Said abbreviated legal description is not a substitute for a complete legal description within the body of the document: W '/2 of W '/2 of NW '/4 of NW '/Section 26-31 N-5E; and Lots 1 and 5-7, Large Tract Segregation, 9003160385, Section 26-31 N-5E Tax Account No.: 310526-001-002-00, 310526-001-022-00, 310526-001-023-00, 310526-001-001-00 and 310525-002-006-00 Note: This map/plat is being furnished as an aid in locating the herein described Land in relation to adjoining streets, natural boundaries and other land. Except to the extent a policy of title insurance is expressly modified by endorsement, if any, the Company does not insure dimensions, distances or acreage shown thereon. END OF SCHEDULE B Subdivision Guarantee/Certificate Printed: 02.03.26 @ 03:29 AM Page 13 WA-CT-FBCM-02150.622476-SPS-1-26-260279-SC 1/29/26,2:24 PM Assessor Map-GeoAdvantage by Sentry Dynamics c C�v Lot :ubdly ROW S 175TH ST NE fa ZMaj— Water Other Lot z ----- V, c ROW --- Z W p � C �> = c Mirr�•Water Other Subdiv _` Vac Lot a = — � z 00 GA e r W PV > BODE. r 101- • 0 fl ♦♦ S ;q 00 ? IS NIH � ��..!1 75 34 1C892�, (12 Dn—CONDOR DRY 1) 14 U 'i 31 Q%, r m ) Y ' A 72 30 �Q m I 'rR 4-012 ': iitl $ y �7RM 2J.. O ; n n 7i H 1 N ii 172ND ST NE za z z : W 2-0al Z a 2 2006 2 � \�+rMMM1, Z 2 C?0 s ? { i c 1-022 t { 3 14� `-I6dTH ST NE .... ...... -- -- - -- ..... fttt»iN H+11H1W,\yS,µyygµyy F Pr 2-0N UJ F Op jI,\'hVh'rrYhYhY.L•hYh'h\Y VhY,VA V AY.YAVA'I.\'J.V.VJ.\'h V.\Y.\'.L' {{{} z u 3 7 007 n ParcelID: 31052500200600 8326 172nd St NE, Arlington WA 98223 This map/plat is being furnished as an aid in locating the herein described land in relation to adjoining streets, natural boundaries and other land, and is not a survey of the land depicted. Except to the extent a policy of title insurance is expressly modified by endorsement, if any, the company does not insure dimensions, distances, location of easements, acreage or other matters shown thereon. https://clients.sentrydynamics.net/AssrMap 1/1