Not to be Recorded

Document Title: Real Property Settlement Agreement
Reference Number of Related Document: N/A
Grantor(s): State of Washington, Department of Transportation
Grantee(s): Port of Seattle
Legal Description: Ptn Lots 1-18, Blk 367, Lots 1-19, Blk 368, Lots 1-9, Blk 369, Seattle
Tide Lands; ptn Lots 1-7, Black's Replat of Portions of Lots 18 & 19, Block 368, Seattle
Tide Lands, Vol. 11 of Plats, page 10
Additional Legal Description is on Pages 5-7 of Document.
Assessor's Tax Parcel Number: 766620-7695-01 & 766620-0005-07

REAL PROPERTY SETTLEMENT AGREEMENT

State Route 99, S. Atlantic St. to S. King St. 
This REAL PROPERTY SETTLEMENT AGREEMENT ("Settlement Agreement") is made
and entered into by and between the State of Washington, acting by and through its
Department of Transportation, hereinafter referred to as the "State", and Port of Seattle, a
Washington municipal corporation, hereinafter referred to as the "Owner":
WITNESSETH:
WHEREAS, on March 22, 2012, Owner and State entered into a Possession and Use
Agreement, recorded under King County Recording No. 20120503001212, which was
superseded and replaced by a Possession and Use Agreement dated July 30, 2012 and
recorded under King County Recording No. 20120921001107 ("Possession and Use
Agreement"), for the taking by the State of a portion of Owner's Terminal 46 property and
airspace rights for use in the State's Stage III of the SR99, S. Holgate Street to S. King Street
Viaduct Replacement Project (Project); and
WHEREAS, the compensation paid to Owner under the Possession and Use Agreement was
reduced by Owner's agreement to transfer to the State 1768 of the 4862 square feet of real
property described in attached Exhibit A; and 2524 of the 2611 square feet of airspace
FA No. BR-0099(119)
Project No. U09936D
RES-322                     Page 1 of 4 Pages            Parcel No. 1-22319
Revised 06/10                                                 IC No. 7-17-09828

SETTLEMENT AGREEMENT
corridor described in attached Exhibit B, as consideration for roadway bridge widening design
and construction changes requested by Owner and provided by the State; and
WHEREAS, the Possession and Use Agreement provided that the parties would discuss the
potential that Owner would accept a tract of Stateowned surplus land located in King
County, Washington identified in the State's records as Inventory Control No. 7-17-09828 as
partial compensation for the State's acquisition of Owner's land, State Parcel No. 1-22319;
and 
WHEREAS, Owner and State now desire to finalize the transactions contemplated in the
Possession and Use Agreement; and
WHEREAS, in 1968, Owner conveyed to the then Municipality of Metropolitan Seattle (now
"King County") certain real property under King County Recording No. 6437098 (regulator
station), reserving unto the Port a right of first refusal. The State has acquired a portion of
said property and Owner has agreed to quit claim to the State its reserved right of first refusal;
NOW THEREFORE, it is agreed that:
1. No later than ten (10) days after the effective date of this Settlement Agreement,
Owner shall deliver the following to the State:
a. The executed Quitclaim Deed in substantially the same form as attached
hereto as Exhibit A, incorporated in and by this reference made a part of this
Settlement Agreement, conveying to the State under the threat of eminent
domain 4862 square feet, more or less, of real property.
b. The executed Airspace Corridor Quitclaim Deed in substantially the same
form as attached Exhibit B, incorporated in and by this reference made a
part of this Settlement Agreement, conveying to the State under the threat of
eminent domain an airspace corridor totaling 2611 square feet, more or less.
c. The executed Quitclaim Deed  Right of First Refusal, in substantially the
same form as attached Exhibit C, incorporated in and by this reference made
a part of this Settlement Agreement, releasing Owner's right of first refusal
interest in a portion of property previously conveyed to the State by King
County. 

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IC No. 7-17-09828

SETTLEMENT AGREEMENT
2. No later than ten (10) days after Owner's delivery to the State of the Quitclaim
Deed, Airspace Corridor Quitclaim Deed and Quitclaim Deed  Right of First
Refusal, the State shall deliver to the Owner a conformed copy of the recorded
Quitclaim Deed in substantially the same form as attached Exhibit D, incorporated
in and by this reference made a part of this Settlement Agreement, conveying to
Owner a State-owned tract of surplus land (valued at $145,000.00), subject to an
amended permanent, non-exclusive easement to the City of Seattle, City Light
Department  originally  recorded  under  King  County  Recording  No.
20110124001111. The State and the Owner agree that this conveyance of surplus
land is in addition to the original compensation of $289,000.00 paid pursuant to the
Possession and Use Agreement.
3. The State and Owner agree that the State will record the following documents in the
specified sequence in order to affect the transfer of title.
1. Exhibit C, Right of First Refusal Quit Claim Deed, Owner to State.
2. Exhibit A, Quit Claim Deed, Owner to State.
3. Exhibit B, Airspace Corridor Quit Claim Deed, Owner to State.
4. Amendment to Easement Deed, State to City of Seattle City Light
5. Exhibit D, Quit Claim Deed, State to Owner subject to Seattle City
Light easement.
4. The State and Owner agree that this Settlement Agreement represents the complete
and final settlement of just compensation to be made to the Owner for the
acquisition of that property needed by State for its Project, said property identified
as State Parcel No. 1-22319.
It is understood and agreed that delivery of this Settlement Agreement is hereby tendered and
that the terms and obligations hereof shall not become binding upon the State of Washington
unless and until accepted and approved hereon in writing for the State of Washington, by and
through its Department of Transportation, by its authorized agent.

Dated: _______________________, _________

RES-322                     Page 3 of 4 Pages             Parcel No. 1-22319
IC No. 7-17-09828

SETTLEMENT AGREEMENT
PORT OF SEATTLE,
a Washington municipal corporation
By: ________________________________
Theodore J. Fick, Chief Executive Officer
Accepted and Approved
STATE OF WASHINGTON
Department of Transportation
By:
James M. Salter, 
Acquisition Program Manager
Date:

STATE OF WASHINGTON )
: ss.
County of _____________________ )
On this     day of _________________, 201___, before me personally appeared
Theodore J. Fick, to me known to be the Chief Executive Officer of the Port of Seattle, a
Washington municipal corporation that executed the foregoing instrument, and acknowledged
said instrument to be the free and voluntary act and deed of said municipal corporation, for
the uses and purposes therein mentioned, and on oath stated that he was authorized to execute
said instrument.
GIVEN under my hand and official seal the day and year last above written.
Notary Seal 

Notary (print name)
Notary Public in and for the State of Washington,
residing at
My Appointment expires

Please stay within block. 

RES-322                     Page 4 of 4 Pages             Parcel No. 1-22319
IC No. 7-17-09828