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AG 23-249 - X MARKS THE SPOT, LLCRETURN TO: Stacey EXT: 2634 CITY OF FEDERAL WAY LAW DEPARTMENT ROUTING FORM 1. ORIGINATING DEPT./DIV: CD 2. ORIGINATING STAFF PERSON: Stacey Welsh EXT: 2634 3. DATE REQ. BY:11/17 4. TYPE OF DOCUMENT (CHECK ONE): ❑ CONTRACTOR SELECTION DOCUMENT (E.G., RFB, RFP, RFQ) ❑ PUBLIC WORKS CONTRACT ❑ SMALL OR LIMITED PUBLIC WORKS CONTRACT ❑ PROFESSIONAL SERVICE AGREEMENT ❑ MAINTENANCE AGREEMENT ❑ GOODS AND SERVICE AGREEMENT ❑ HUMAN SERVICES / CDBG ❑ REAL ESTATE DOCUMENT ❑ SECURITY DOCUMENT (E.G. BOND RELATED DOCUMENTS) ❑ ORDINANCE ❑ RESOLUTION ❑ CONTRACT AMENDMENT (AG#): ❑ INTERLOCAL 9 OTHER MFTE Contract, Agenda Bill, Staff Report Trouve Apartments 5. PROJECT NAME: p uqV —M) 6. NAME OF CONTRACTOR: b ADDRESS: N TELEPHONE E-MAIL: FAX: SIGNATURE NAME: K-21 f TITLE dnipm 7. EXHIBITS AND ATTACHMENTS: ❑ SCOPE, WORK OR SERVICES ❑ COMPENSATION ❑ INSURANCE REQUIREMENTS/CERTIFICATE ❑ ALL OTHER REFERENCED EXHIBITS ❑ PROOF OF AUTHORITY TO SIGN El REQUIRED LICENSES ❑ PRIOR CONTRACT/AMENDMENTS 8. TERM: COMMENCEMENT DATE: IZl'041`/y Y COMPLETION DATE: 9. TOTAL COMPENSATION $ r. V -Mfflyo (INCLUDE EXPENSES ALE TAX, IF ANY) (IF CALCULATED ON HOURLY LABOR CHARGE - ATTACH SCHEDULES OF EMPLOYEES TITLES AND HOLIDAY RATES) REIMBURSABLE EXPENSE: ❑ YES ENO IF YES, MAXIMUM DOLLAR AMOUNT: $ IS SALES TAX OWED OYES ONO IF YES, $ PAID BY: ❑ CONTRACTOR ❑ CITY RETAINAGE: RETAINAGE AMOUNT: ❑.RETAINAGE AGREEMENT (SEE CONTRACT) OR ❑ RETAINAGE BOND PROVIDED ❑ PURCHASING: PLEASE CHARGE TO: 10. DOCUMENT/CONTRACT REVIEW INITIAL / DATE REVIEWED INITIAL / DATE APPROVED IJ PROJECT MANAGER SW 11/6; JT 11/6/23 JT 11/6/23 0 DIRECTOR KN / 11.6.23 KN / 11.6.23 ❑ RISK MANAGEMENT (IF APPLICABLE) © LAW KVA 11/6/2023 11. COUNCIL APPROVAL (IF APPLICABLE) COMMITTEE APPROVAL DATE: 11-28-23 COUNCIL APPROVAL DATE: 12/5/23 12. CONTRACT SIGNATURE ROUTING © SENT TO VENDOR/CONTRACTOR DATE SENT: 12/1/23 DATE REC'D: 12/5/23 A ATTACH: SIGNATURE AUTHORITY, INSURANCE CERTIFICATE, LICENSES, EXHIBITS ❑ CREATE ELECTRONIC REMINDER/NOTIFICATION FOR I MONTH PRIOR TO EXPIRATION DATE (Include dept. support staff if necessary and feel free to set notification more than a month in advance if council approval is needed.) INITIAL/ DAT SIGNED �1 LA PARTMENT V CL Z ffl�SIGNATORY (MAYOR OR DIRECTOR) ❑ CITY CLERK40' ElASSIGNED AG# A COMMENTS: PCe�� f't' rV% 0444jcj 4 4, fo�f-- PaTt)VA CITY OF FEDERAL WAY MULTI -FAMILY HOUSING LIMITED PROPERTY TAX EXEMPTION CONTRACT THIS AGREEMENT is entered into thisday of �.+e.. , 2GJ3 by and between X Marks the Spot LLC, a Washington limited liability company (hereinafter referred to as the "Owner"), and the CITY OF FEDERAL WAY, a municipal corporation of the State of Washington (hereinafter referred to as the "City"). WHEREAS the City has an interest in stimulating new construction or rehabilitation of multi -family housing in Residential Target Areas in order to reduce development pressure on single-family residential neighborhoods, to increase and improve housing opportunities, and to encourage development densities supportive of transit use; and WHEREAS the City has, pursuant to the authority granted to it by Chapter 84.14 RCW, designated various Residential Target Areas for the provision of a limited property tax exemption for new multi -family residential housing; and WHEREAS the City has, through Chapter 3.30 Federal Way Revised Code ("F)A[RC"), enacted a program whereby property owners may qualify for a Final Certificate of Tax Exemption which certifies to the King County Assessor that the owner is eligible to receive a limited property tax exemption; and WHEREAS, The Owner is interested in receiving the multiple family property tax exemption for new/rehabilitated multiple family residential housing units in a residential targeted area; and WHEREAS, The Owner has submitted to the City a complete application form for no fewer than four (4) units of new/rehabilitated multifamily housing within a residential structure or as part of an urban development; and WHEREAS the Owner has submitted to the City preliminary site plans and floor plans for multi -family residential housing to be constructed on King County Assessor's Parcel Number 9129400040 commonly known as Trouve Apartments, and as legally described in Exhibit A ("Site"). WHEREAS the City has determined that the improvements will, if completed as proposed, satisfy the requirements for a Final Certificate of Tax Exemption. NOW, THEREFORE, the City and the Owner do mutually agree as follows: 1. The City agrees to issue the Owner a Conditional Certificate of Acceptance of Tax MULTIFAMILY HOUSING LIMITED PROPERTY TAX EXEMPTION CONTRACT 1 10/23 Exemption. 2. The Owner agrees to construct on the Site multi -family residential housing substantially as described in the most recent site plans, floor plans, and elevations on file with the City as of the date of this agreement. 3. The project is, or will be at the time of completion, in compliance with all applicable zoning requirements, land use requirements, building code, and fire code requirements contained in the FWRC. For the duration of the tax exemption, the Site shall have no violations of applicable zoning requirements, land use regulations, or building code requirements contained in the FWRC for which the City's Department of Community Development shall have issued an order to cease activity ("OTC") or notice of violation and order to correct ("NOV") that are not resolved by a voluntary correction agreement, vacation by the hearing examiner, or action of the property owner in compliance with the applicable code requirements as determined by the director, within the time period for compliance provided in such OTC or NOV and any extension of the time period for compliance granted by the director. 4. Existing dwelling units proposed for rehabilitation must fail to comply with one or more standards of the applicable State or City building codes. 5. The new, converted, or rehabilitated multi -unit housing must provide for a minimum of fifty (50) percent of the space for permanent residential occupancy. The project, whether new, converted, or rehabilitated multiple -unit housing, must include at least four (4) units of multifamily housing within a residential structure or as part of an urban development. 6. The Owner agrees to complete construction of the agreed upon improvements within three years from the date the City issues the Conditional Certificate of Acceptance of Tax Exemption, or within any extension thereof granted by the City. 7. The Owner is requesting an Eight year limited property tax exemption. 8. The Owner agrees, upon completion of the improvements and upon issuance by the City of a temporary certificate of occupancy, or permanent certificate of occupancy if no temporary certificate is issued, to file with the City's Department of Community Development the following: (a) A statement of expenditures made with respect to each multi -family housing unit and the total expenditures made with respect to the entire property; (b) A description of the completed work and a statement of qualification for the exemption; (c) If applicable, a statement that the project meets the affordable housing requirements as described in FWRC 3.30.040; MULTIFAMILY HOUSING LIMITED PROPERTY TAX EXEMPTION CONTRACT (d) A statement that the work was completed within the required three (3) year period or any approved extension. 9. The City agrees, conditioned on the Owner's successful completion of the improvements in accordance with the terms of this Contract and on the Owner's filing of the materials described in Paragraph 8 above, to file an eight or twelve year, as applicable, Final Certificate of Tax Exemption with the King County Assessor. 10. The Owner agrees, within 30 days following the first anniversary of the date the city filed the Final Certificate of tax exemption and each year thereafter for a period of eight or twelve years, as applicable, to file a certification with the City's Department of Community Development, verified upon signed affirmation under penalty of perjury under the laws of the state of Washington. The certification shall contain such information as the City's Community Development Director may deem necessary or useful, and shall at a minimum include the following information: (a) A statement of occupancy and vacancy of the multifamily units during the previous year; (b) A certification that the property has not changed use and, if applicable, that the property has been in compliance with the affordable housing requirements as described in FWRC 3.30.040 since the date of filing of the final certificate of tax exemption, and continues to be in compliance with this Contract with the city; (c) A description of any improvements or changes to the property made after the filing of the final certificate or most recent certification, as applicable; (d) Any information needed by the City to file its annual report pursuant to Federal Way Revised Code (FWRC) 3.30.110 and any additional information requested by the City in regards to the units receiving a tax exemption. 11. The parties acknowledge that the units are to be used and occupied for multifamily residential use. The parties further acknowledge that the certificate of occupancy issued by the City is for multifamily residential units. The Owner acknowledges and agrees that the units shall be used primarily for residential occupancy and any business activities shall only be incidental and ancillary to the residential occupancy. 12. If the Owner converts to another use any of the new multi -family residential housing units constructed under this Contract, the Owner shall notify the King County Assessor and the City's Department of Community Development within 60 days of such change in use. 3 MULTIFAMILY HOUSING LIMITED PROPERTY TAX EXEMPTION CONTRACT 13. The Owner agrees to notify the City promptly of any transfer of Owner's ownership interest in the Site or in the improvements made to the Site under this Contract. 14. The City reserves the right to cancel the Final Certificate of Tax Exemption should the Owner, its successors and assigns, fail to comply with any of the terms and conditions of this Contract. 15. The Owner acknowledges its awareness of the potential tax liability involved if and when the property ceases to be eligible for the incentive provided pursuant to this contract. Such liability may include additional real property tax, penalties and interest imposed pursuant to RCW 84.14.110. 16. Nothing in this Contract shall permit or be interpreted to permit either party to violate any provision of Chapter 84.14 RCW or FWRC Chapter 3.30. 17. No modifications of this Contract shall be made unless mutually agreed upon by the parties in writing. 18. The Owner acknowledges its awareness of the potential tax liability involved if and when the property ceases to be eligible for the incentive provided pursuant to this contract. Such liability may include additional real property tax, penalties and interest imposed pursuant to RCW 84.14.110. The Owner further acknowledges its awareness and understanding of the process implemented by the King County Assessor's Office for the appraisal and assessment of property taxes. The Owner agrees that the City is not responsible for the property value assessment imposed by King County at any time during the exemption period. 19. In the event that any term or clause of this Contract conflicts with applicable law, such conflict shall not affect other terms of this Contract which can be given effect without the conflicting term or clause, and to this end, the terms of this Contract are declared to be severable. IN WITNESS WHEREOF the parties hereto have executed this Contract as of the day and year first above written. [signatures to follow] 4 MULTIFAMILY HOUSING LIMITED PROPERTY TAX EXEMPTION CONTRACT QF FEDERAL WAY X MARKS THE SPOT LLC: Mayor Printed Nar e:-�f'��i�C v�3CG Its:4- iven,yjirector nijy;Development Department Department ATTEST' Ste h " ie ourtney, ity Clerk O AS TO FORM: C- /yan all, City Att STATE OF WASHINGTON ) ss. COUNTY OF K 1 M &- 1 On this day personally appeared before me �3:r-A to me known to be the qmx ' y of X Marks the Spot LLC that executed the within and foregoing instrument, and acknowle ged the said instrument to be the free and voluntary act and deed of said limited liability company, for the uses and purposes therein mentioned, and on oath stated that he or she was authorized to execute said instrument. GIVEN under my hand and official seal this 5 day of t)c6- rv% FAppointment a eano otary's signature ry Public otary's printed name _ _macG, T���V Washington My Expires 8/21/2027 Notary Public in and for the State of Washington. umber 23426425 My commission expires e— Zo MULTIFAMILY HOUSING LIMITED PROPERTY TAX EXEMPTION CONTRACT AMO IQUO Legal Description Trouve Apartments (King County Parcel # 912940 0040) Revised Lot 2, City of Federal Way Boundary Line Adjustment No. 21-104413-SU, recorded March 3, 2022 under Recording No. 20220303900007, in King County, Washington; Together with a 75% interest in Tract A, City of Federal Way Boundary Line Adjustment No. 21-104413-SU, recorded March 3, 2022 under Recording No. 20220303900007, in King County, Washington. BUSINESS INFORMATION Business Name: X MARKS THE SPOT LLC UBI Number: 603 549 793 Business Type: WA LIMITED LIABILITY COMPANY Business Status: ACTIVE Principal Office Street Address: 2711 W VALLEY HWY N, SUITE 200, AUBURN, WA, 98001-1662, UNITED STATES Principal Office Mailing Address: 2711 W VALLEY HWY N STE 200, AUBURN, WA, 98001-1662, UNITED STATES Expiration Date: 10/31/2024 Jurisdiction: UNITED STATES, WASHINGTON Formation/ Registration Date: 10/08/2015 Period of Duration: PERPETUAL Inactive Date: Nature of Business: REAL PROPERTY INVESTMENT REGISTERED AGENT INFORMATION Registered Agent Name: MPBA SERVICE COMPANY LLC Street Address: 701 FIFTH AVE #5500, SEATTLE, WA, 98104-0000, UNITED STATES Mailing Address: 701 FIFTH AVE #5500, SEATTLE, WA, 98104-0000, UNITED STATES GOVERNORS Title Governors Type Entity Name First Name GOVERNOR INDIVIDUAL BRETT Last Name JACOBSEN Washington State Department of Revenue A < Business Lookup License Information: New search Back to results Entity name: X MARKS THE SPOT LLC Business X MARKS THE SPOT LLC name: Entity type: Limited Liability Company UBI #: 603-549-793 Business ID: 001 Location ID: 0001 Location: Active Location address: 34816 1 ST AVE S FEDERAL WAY WA 98003 Mailing address: 2711 W VALLEY HWY N STE 200 AUBURN WA 98001-1662 Excise tax and reseller permit status: Click here Secretary of State status: Click here Endorsements Endorsements held i License # Count Details Status Expiratior First issua Endorsements held i License # Count Details Status Expiration First issua Federal Way Active Dec-31-21 Dec-OS-21 1 General Business Governing People Moy include governing people not registered with Secretary o/ State Governing people Title JACOBSEN, BRETT Manager The Business Lookup information is updated nightly. Search date and time: 12/6/2023 1:54:29 PM Contact us How are we doing? Take our survey! Don't see what you expected? Check if your browser is supported 12/26/23, 4:12 PM Landmark Web Official Records Search Instrument Number: 20231211000529 Document:MISC Rec: $209.50 Page-1 of 7 Record Date: 12/11/202311:37 AM Electronically Recorded King County, WA WHEN RECORDED RETURN TO: Brett Jacobsen X Marks The Spot LLC 2711 West Valley Highway North, Suite 200 Auburn, WA 98001 DOCUMENT TITLE(S) Multi family Housing Limited Tax Exemption Contract REFERENCE NUMBER(S) OF DOCUMENTS ASSIGNED OR RELEASED: None GRANTOR(S): X Marks The Spot LLC GRANTEE(S): City of Federal Way ABBREVIATED LEGAL DESCRIPTION: Revised Lot 2, City of Federal Way Boundary Line Adjustment No. 21-104413-SU, recorded March 3, 2022 under Recording No. 20220303900007, in King County, Washington; PROPERTY TAX PARCEL: King County Parcel # 912940 0040 LPB 01-05 https://recordsearch. ki ngcounty.gov/LandmarkWeb/search/index?theme=.blue&section=searchCriteriaDocuments&quickSearchSelection=# 1 /7 12/26/23, 4:12 PM Landmark Web Official Records Search Instrument Number: 20231211000529 Document:MISC Rec: S209.50 Page-2 of 7 Record Date:12/11/2023 11:37 AM King County, WA CITY OF FEDERAL WAY MULTI -FAMILY ROUSING LIMITED PROPERTY TAX EXEMPTION CONTRACT THIS AGREEMENT is entered into this`6� day of ► %- , 2(a3 by and between X Marks the Spot LLC, a Washington limited liability company (hereinafter referred to as the "Owner"), and the CITY OF FEDERAL WAY, a municipal corporation of the State of Washington (hereinafter referred to as the "City"). WHEREAS the City has an interest in stimulating new construction or rehabilitation of multi -family housing in Residential Target Areas in order to reduce development pressure on single-family residential neighborhoods, to increase and improve housing opportunities, and to encourage development densities supportive of transit use; and WHEREAS the City has, pursuant to the authority granted to it by Chapter 84.14 RCW, designated various Residential Target Areas for the provision of a limited property tax exemption for new multi -family residential housing; and WHEREAS the City has, through Chapter 3.30 Federal Way Revised Code ("FWRC"), enacted a program whereby property owners may qualify for a Final Certificate of Tax Exemption which certifies to the King County Assessor that the owner is eligible to receive a limited property tax exemption; and WHEREAS, The Owner is interested in receiving the multiple family property tax exemption for new/rehabilitated multiple family residential housing units in a residential targeted area; and WHEREAS, The Owner has submitted to the City a complete application form for no fewer than four (4) units of new/rehabilitated multifamily housing within a residential structure or as part of an urban development; and WHEREAS the Owner has submitted to the City preliminary site plans and floor plans for multi -family residential housing to be constructed on King County Assessor's Parcel Number 9129400040 commonly known as Trouve Apartments, and as legally described in Exhibit A ("Site"). WHEREAS the City has determined that the improvements will, if completed as proposed, satisfy the requirements for a Final Certificate of Tax Exemption. NOW, THEREFORE, the City and the Owner do mutually agree as follows: 1. The City agrees to issue the Owner a Conditional Certificate of Acceptance of Tax MULTIFAMILY HOUSING LIMITED PROPERTY TAX EXEMPTION CONTRACT 10/23 https://recordsearch.kingcounty.gov/LandmarkWeb/search/index?theme=.blue&section=searchCriteriaDocuments&quickSearchSelection=# 2/7 12/26/23, 4:12 PM Landmark Web Official Records Search Instrument Number: 20231211000529 Document:MISC Rec: S209.50 Page-3 of 7 Record Date:12/11/2023 11:37 AM King County, WA Exemption. 2. The Owner agrees to construct on the Site multi -family residential housing substantially as described in the most recent site plans, floor plans, and elevations on file with the City as of the date of this agreement. 3. The project is, or will be at the time of completion, in compliance with all applicable zoning requirements, land use requirements, building code, and fire code requirements contained in the FWRC. For the duration of the tax exemption, the Site shall have no violations of applicable zoning requirements, land use regulations, or building code requirements contained in the FWRC for which the City's Department of Community Development shall have issued an order to cease activity ("OTC") or notice of violation and order to correct ("NOV") that are not resolved by a voluntary correction agreement, vacation by the hearing examiner, or action of the property owner in compliance with the applicable code requirements as determined by the director, within the time period for compliance provided in such OTC or NOV and any extension of the time period for compliance granted by the director. 4. Existing dwelling units proposed for rehabilitation must fail to comply with one or more standards of the applicable State or City building codes. 5. The new, converted, or rehabilitated multi -unit housing must provide for a minimum of fifty (50) percent of the space for permanent residential occupancy. The project, whether new, converted, or rehabilitated multiple -unit housing, must include at least four (4) units of multifamily housing within a residential structure or as part of an urban development. 6. The Owner agrees to complete construction of the agreed upon improvements within three years from the date the City issues the Conditional Certificate of Acceptance of Tax Exemption, or within any extension thereof granted by the City. 7. The Owner is requesting an Eight year limited property tax exemption. 8. The Owner agrees, upon completion of the improvements and upon issuance by the City of a temporary certificate of occupancy, or permanent certificate of occupancy if no temporary certificate is issued, to file with the City's Department of Community Development the following: (a) A statement of expenditures made with respect to each multi -family housing unit and the total expenditures made with respect to the entire property; (b) A description of the completed work and a statement of qualification for the exemption; (c) If applicable, a statement that the project meets the affordable housing requirements as described in FWRC 3.30.040; MULTIFAMILY HOUSING LIMITED PROPERTY TAX EXEMPTION CONTRACT https://recordsearch.kingcounty.gov/LandmarkWeb/search/index?theme=.blue&section=searchCriteriaDocuments&quickSearchSelection=# 3/7 12/26/23, 4:12 PM Landmark Web Official Records Search Instrument Number: 20231211000529 Document:MISC Rec: S209.50 Page-4 of 7 Record Date:12/11/2023 11:37 AM King County, WA (d) A statement that the work was completed within the required three (3) year period or any approved extension. 9. The City agrees, conditioned on the Owner's successful completion of the improvements in accordance with the terms of this Contract and on the Owner's filing of the materials described in Paragraph 8 above, to file an eight or twelve year, as applicable, Final Certificate of Tax Exemption with the King County Assessor. 10. The Owner agrees, within 30 days following the first anniversary of the date the city filed the Final Certificate of tax exemption and each year thereafter for a period of eight or twelve years, as applicable, to file a certification with the City's Department of Community Development, verified upon signed affirmation under penalty of perjury under the laws of the state of Washington. The certification shall contain such information as the City's Community Development Director may deem necessary or useful, and shall at a minimum include the following information: (a) A statement of occupancy and vacancy of the multifamily units during the previous year; (b) A certification that the property has not changed use and, if applicable, that the property has been in compliance with the affordable housing requirements as described in FWRC 3.30.040 since the date of filing of the final certificate of tax exemption, and continues to be in compliance with this Contract with the city; (c) A description of any improvements or changes to the property made after the filing of the final certificate or most recent certification, as applicable; (d) Any information needed by the City to file its annual report pursuant to Federal Way Revised Code (FWRC) 3.30.110 and any additional information requested by the City in regards to the units receiving a tax exemption. 11. The parties acknowledge that the units are to be used and occupied for multifamily residential use. The parties further acknowledge that the certificate of occupancy issued by the City is for multifamily residential units. The Owner acknowledges and agrees that the units shall be used primarily for residential occupancy and any business activities shall only be incidental and ancillary to the residential occupancy. 12. If the Owner converts to another use any of the new multi -family residential housing units constructed under this Contract, the Owner shall notify the King County Assessor and the City's Department of Community Development within 60 days of such change in use. MULTIFAMILY HOUSING LIMITED PROPERTY TAX EXEMPTION CONTRACT https://recordsearch.kingcounty.gov/LandmarkWeb/search/index?theme=.blue&section=searchCriteriaDocuments&quickSearchSelection=# 4/7 12/26/23, 4:12 PM Landmark Web Official Records Search Instrument Number: 20231211000529 Document:MISC Rec: S209.50 Page-5 of 7 Record Datc:12/11/2023 11:37 AM King County, WA 13. The Owner agrees to notify the City promptly of any transfer of Owner's ownership interest in the Site or in the improvements made to the Site under this Contract. 14. The City reserves the right to cancel the Final Certificate of Tax Exemption should the Owner, its successors and assigns, fail to comply with any of the terms and conditions of this Contract. 15. The Owner acknowledges its awareness of the potential tax liability involved if and when the property ceases to be eligible for the incentive provided pursuant to this contract. Such liability may include additional real property tax, penalties and interest imposed pursuant to RCW 84.14.110. 16. Nothing in this Contract shall permit or be interpreted to permit either party to violate any provision of Chapter 84.14 RCW or FWRC Chapter 3.30. 17. No modifications of this Contract shall be made unless mutually agreed upon by the parties in writing. 18. The Owner acknowledges its awareness of the potential tax liability involved if and when the property ceases to be eligible for the incentive provided pursuant to this contract. Such liability may include additional real property tax, penalties and interest imposed pursuant to RCW 84.14.110. The Owner further acknowledges its awareness and understanding of the process implemented by the King County Assessor's Office for the appraisal and assessment of property taxes. The Owner agrees that the City is not responsible for the property value assessment imposed by King County at any time during the exemption period. 19. In the event that any term or clause of this Contract conflicts with applicable law, such conflict shall not affect other terms of this Contract which can be given effect without the conflicting term or clause, and to this end, the terms of this Contract are declared to be severable. IN WITNESS WHEREOF the parties hereto have executed this Contract as of the day and year first above written. [signatures to follow] 4 MULTIFAMILY HOUSING LIMITED PROPERTY TAX EXEMPTION CONTRACT https://recordsearch.kingcounty.gov/LandmarkWeb/search/index?theme=.blue&section=searchCriteriaDocuments&quickSearchSelection=# 5/7 12/26/23, 4:12 PM Landmark Web Official Records Search Instrument Number: 20231211000529 Document:MISC Rec: S209.50 Page-6 of 7 Record Date:12/11/2023 11:37 AM King County, WA F FEDERAL WAY X MA S T SPOT LLC: 4;� By: -ell, Mayor Printe^JNa e:�'i—�.It�Cvf3SFt `► Its: th Niven, Department Department ATTEST- k6j vd- Ste h ie ourtney, ity Clerk OV AS TO FORM: yan Call, City Att STATE OF WASHINGTON ) ss. COUNTY OF K i N fi ) On this day personally appeared before me z' ,tiw�j5�,, to me known to be the hot aft Y of X Marks the Spot LLC that executed the within and foregoing instrument, and acknowle ged the said instrument to be the free and voluntary act and deed of said limited liability company, for the uses and purposes therein mentioned, and on oath stated that he or she was authorized to execute said instrument. t GIVEN under my hand and official seal this 5'M day of De ct rv% 2013 Angela" eano otary's signature -r- w�-- Notary Public otary's printed name State of Washington My Appointment Expires 812112027 Notary Public in and for the State of Washington. Commission Number 230- - My commission expires -2-1. 2Va1 MULTIFAMILY HOUSING LIMITED PROPERTY TAX EXEMPTION CONTRACT https://recordsearch.kingcounty.gov/LandmarkWeb/search/index?theme=.blue&section=searchCriteriaDocuments&quickSearchSelection=# 6/7 12/26/23, 4:12 PM Landmark Web Official Records Search Instrument Number: 20231211000529 Document:MISC Rec: S209.50 Page-7 of 7 Record Datc:12/11/2023 11:37 AM King County, WA EXHIBIT A Legal Description Trouve Apartments (King County Parcel # 912940 0040) Revised Lot 2, City of Federal Way Boundary Line Adjustment No. 21-104413-SU, recorded March 3, 2022 under Recording No. 20220303900007, in King County, Washington; Together with a 75% interest in Tract A, City of Federal Way Boundary Line Adjustment No. 21-104413-SU, recorded March 3, 2022 under Recording No. 20220303900007, in King County, Washington. CHICAGO TITLE INSURANCE COMPANY has placed the document of record as a customer courtesy and accepts no liability for the accuracy or validity of the document. https://recordsearch.kingcounty.gov/LandmarkWeb/search/index?theme=.blue&section=searchCriteriaDocuments&quickSearchSelection=# 7/7