Inspection and Approval of the Property. Any required inspections or approvals of the property
<br /> or of improvements, additions or repairs to the property will be arranged and completed by the parties,
<br /> outside of escrow. The closing agent shall have no liability with respect to the physical condition of the
<br /> property, or any buildings, improvements, plumbing, heating, cooling, electrical, septic or other systems on
<br /> the property, and no responsibility to inspect the property, or to otherwise determine its physical condition,
<br /> or to determine whether any required improvements, additions or repairs have been satisfactorily
<br /> completed.
<br /> Undisclosed Sewer Charges. Buyer and seller acknowledge that the subject property may be
<br /> located within one of those participating cities or sewer districts which have entered into a special
<br /> contractual relationship with the Metro Council which may allow Metro to levy a fee or charge an additional
<br /> service fee. Buyer and Seller agree that any adjustment shall be handled outside of closing and Escrow
<br /> Closer shall be held harmless with respect to any such "capacity charge".
<br /> Real Estate Disclosure. A Residential Real Estate Sales Disclosure may be required to be
<br /> furnished by the seller to the buyer before the closing of the sale of subject property in accordance with
<br /> Title 64 RCW, enacted 1994 and as amended. Escrow Closer has not advised either party as to the
<br /> scope of such disclosure or the parties' rights or duties thereunder, but has advised both parties to review
<br /> these matters with their real estate agent or an attorney of their choice. Escrow Closer is hereby assured
<br /> by the buyer that any disclosure required, including any disclosure relative to Farm and Timber, Asbestos
<br /> or Lead Base Paint, has been received and the appropriate time has expired and Escrow Closer has no
<br /> duty to independently confirm such receipt and time expiration by buyer.
<br /> Personal Property. Any required inspections, approvals or transfers of possession of any owned
<br /> or leased fixtures, equipment or other items of personal property included in the transaction, and payment
<br /> of any personal property, sales or use taxes, will be completed by the parties outside of escrow. Unless
<br /> otherwise instructed in writing, the closing agent shall have no responsibility with respect to such personal
<br /> property and shall not be required to determine the status or condition of the title to, encumbrances upon,
<br /> ownership, or physical condition of such personal property, nor to calculate, pro-rate, collect, prepare
<br /> returns for or pay any personal property tax, sales tax or use tax arising from the transaction.
<br /> Utilities. If the Purchase and Sale Agreement lists the names and addresses of public utilities
<br /> which could claim a lien, the Closing Agent shall request statements for payment of final or estimated
<br /> billings and is instructed to pay the amounts demanded by such designated public utilities. In the event
<br /> such designated public utilities do not provide the payment information within the time allowances
<br /> prescribed by law, Closing Agent shall have no further responsibility to the parties for the payment of said
<br /> utilities, and shall not be required to pay them, and seller agrees to discharge said utilities outside of
<br /> escrow. All other orders, cancellations, transfers, payments and adjustment of accounts for installation or
<br /> service of water, sewer, garbage collection, electricity, gas, fuel oil, telephone, television cable and any
<br /> other utilities for public services, including installation fees, will be completed by the parties outside of
<br /> escrow. Unless specifically instructed in writing by one or more parties in accordance with State of
<br /> Washington RCW 60.80, all orders, cancellations, transfers, payments and adjustments of accounts for
<br /> water, sewer, garbage collection, electricity, gas, FUEL OIL, telephone, television cable and any other
<br /> utilities or public services will be completed by the parties outside of escrow.
<br /> Unless otherwise instructed, the closing agent shall have no responsibility to determine, collect,
<br /> pay, pro-rate or adjust charges for installation or service for any utilities or public services, except to pro-
<br /> rate existing recurrent assessments for public improvements if any, which may appear on the title report.
<br /> Fire or Casualty Insurance. If a new policy of fire, hazard or casualty insurance on the property
<br /> is necessary to close the transaction, the buyer will arrange for the policy to be issued, and will provide
<br /> evidence of the required insurance coverage to the closing agent before the closing date, together with a
<br /> paid premium receipt or an authorization to pay the premium through escrow. The parties are advised to
<br /> consult with their respective property and hazard insurance companies to confirm adequate coverage on
<br /> Closing, as defined in these instructions.
<br /> Possession of the Property. The transfer of possession of the property shall be arranged
<br /> between the parties, or through their respective real estate agents, outside of escrow, and shall not be the
<br /> responsibility of the closing agent.
<br /> Page 4 of 7
<br />
|