Everett Museum of History 1/27/2022

Rainier Title, LLC-Everett 2722 Colby Avenue,Suite 125 µ' me — Everett,WA 98201 (425)252-1222(P) RAIN I ERTITLE (425)329-2197(F) teamlovgreen@rainiertitle.com UTILITY DISBURSEMENT AGREEMENT THIS AGREEMENT is made between City of Everett,(Seller),Everett Museum of History,(Buyer)and Rainier Title (Closing Agent) concerning Escrow File Number 774818RT, related to the following street address: 2130 Colby Avenue,Everett,WA 98201. WHEREAS,Washington law requires Escrow Agent to pay certain utilities that can become a lien through the date of closing if the Buyer requests. If Buyer does not waive this requirement, the closing may not occur until Seller provides the required information and the designated utilities provide statements to Escrow Agent. NOW THEREFORE,for good and valuable consideration,receipt of which is hereby acknowledged,the parties hereto agree and instruct Closing Agent as follows: **City of Everett is to make final payments for all utility account outside of closing** ❑ 1. If checked,the parties direct Closing Agent to disburse the closing funds necessary to pay utilities that have lien rights and that are designated by Seller. a. Pursuant to statute,the Seller must provide the names, addresses and account numbers of all utilities that can become a lien upon the land if not paid. Closing Agent is not responsible to determine the appropriate utilities to be paid. Seller acknowledges that prior to closing,Seller has provided a list of utilities to be paid. b. The Closing Agent may pay either the final statement of the utility company or the estimate of the utility company that is binding to the utility with respect to its lien rights against the Buyer. Seller understands that payment of the utility company's estimated statement allows the utility company to require further funds from Seller if the final billing is higher,and the utility company is responsible to provide refund to the Seller directly if the final billing is lower. c. The Closing Agent may be required to withhold an estimated amount from funds due to the Seller in order to pay the designated utilities. That withhold,if needed,will be disclosed on the Seller's settlement statement. The funds shall be held in a non interest-bearing trust account until such time as the Closing Agent may determine and pay the amount claimed due and refund the balance to the Seller. If the withheld funds are insufficient,Seller agrees to deposit the additional amount within 7 days after notice. d. If Seller did not designate one or more utilities that have a lien right against the owner of the property, Seller remains liable to the Buyer to pay all utility charges due by the owner of the property through the date of closing of the sale and will hold Closing Agent harmless from responsibility for the payment or for administering any reimbursement due to Buyer. ® 2. If checked,the parties do not request Closing Agent to pay utilities. Buyer hereby waives the statutory duty of Closing Agent to pay Seller's utilities. a. Seller acknowledges the Seller's obligation at the time of sale to pay all utility charges that are due by the owner of the land through the date of the closing. Seller agrees to satisfy any such liens or charges outside of closing. b. Seller remains liable to the Buyer to pay all utility charges due by the owner of the property through the date of closing of the sale, and to promptly reimburse Buyer for any amount Buyer pays that became due before the closing. Both parties hold Closing Agent harmless from responsibility for reimbursement to the parties claimed to be due after the closing date. Buyer and Seller understand and agree that Escrow does not handle the transferring of utilities.It is the sole responsibility of the Buyer and Seller to ensure all utilities have be-• - ferred at closing. ...MMEMIIMF 2 Barbara George Date City of Ev .ate,j' farr ranklin,Mayor Date Office a f the City Attorney APPROVED AS TO FORM David C.Hat,City Attorney