Everett Museum of History 1/27/2022

Collection Account. If any financing for the transaction will be provided by a private party, the parties are advised to open a collection account at a financial institution to receive and disburse payments to be made under the private promissory note or contract. The collection account shall be established by the parties outside of escrow and shall not be the responsibility of the closing agent. 1099-S Reporting of Sellers Proceeds. In compliance with the Tax Reform Act of 1986, Internal Revenue Code Sections 6045(e), 6676, 6722, 6723, and 7203 and as further amended, seller shall provide all information necessary, including Seller's Taxpayer Identification Number (TIN), for the preparation of a Form 1099-S as required by the Internal Revenue Service in connection with the closing and completion of the transaction. Closing agent reserves the right not to close the escrow if adequate information to complete Form 1099-S is not provided by the seller. Foreign Investment in Real Property Tax Act. If any seller is, or may be, a non-resident alien or a foreign corporation, partnership, trust or estate for the purposes of United States income taxation, the parties are advised to consult with their attorneys before the closing date to determine their responsibilities and liabilities, if any, under the Foreign Investment in Real Property Tax Act (Section 1445 et seq. of the Internal Revenue Code). The closing agent is not required to verify the nationality or foreign status of any of the sellers, or to withhold, report or pay any amounts due under such act, unless directed by the parties in writing. However, the closing agent may request additional information or documentation concerning sellers' foreign status, and the parties agree to cooperate by providing such information and documentation. Approvals and Permits. The parties are advised to consult with their attorneys to determine whether any building, zoning, subdivision, septic system, or other construction or land use permits or approvals will be required, either before or after the closing date. The closing agent shall have no responsibility with respect to any such permit or approval, and shall have no liability arising from the failure of any party to obtain, or from the refusal of any governmental authority to grant, any such permit or approval. Condominiums and Common Interest Communities: A seller may be required to deliver a resale certificate or public offering statement to the buyer of a condominium unit prior to closing in accordance with RCW Chapter 64.34, known as the Condominium Act. A seller may be required to deliver a public offering statement or resale certificate to the buyer of property within certain common interest communities prior to closing in accordance with Senate Bill 6175, known as the Washington Uniform Common Interest Ownership Act. Closing Agent cannot advise either party as to the scope of such requirements or the parties' rights or duties thereunder, but hereby advises both parties to review these matters with an attorney of their choice. Closing Agent has no duty to independently confirm such requirements, if applicable, will be or has been met prior to closing. Compliance with Certain Laws. The parties are advised to consult with their attorneys to determine their rights and responsibilities, if any, under the Consumer Protection Act, Truth-in-Lending Act or other similar laws. The Closing Agent shall have no responsibility for the parties' compliance, nor any liability arising from the failure of any party to comply, with any such law. Page 5 of 7