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Maricopa County
Purchase Agreement and Escrow Instructions
Title Company
Security Title Agency
Date
February 8, 2024
Address
4722 N. 24th Street
Phone
602-230-6271
City
Phoenix, Arizona 85016
Fax
602-926-0452
Escrow Officer
Jason Bryant
Email
jbryant@securitytitle.com
Escrow No.
15210644-015-JB6-SW
Grantors:
KRG Glendale Outlot D, LLC,
Contact
Ryan Vande Bosche
Phone:
Mailing Address:
30 South Meridian Street, Suite 1100
Email
rvandebosche@kiterealty.com
City, State Zip
Indianapolis, IN 46204
Grantee: Maricopa County, a political subdivision of the State of Arizona
Mailing Address:
Real Estate Department, 2801 W. Durango Street, Phoenix, Arizona 85009
MARICOPA COUNTY shall pay directly to the Grantor, or
deposit with the Title Company if escrowed, the purchase price
plus all lawful costs incidental to closing as follows:
Sub-
Object
Code
Charges and Disbursements to be paid from Grantor's funds as
follows (check all that apply):
Escrow Fees
Total Acquisition of Grantor's Property: Full release of all
Title Policy Fees
monetary liens and encumbrances, and leases of any kind.
Title Report
Pay in full all due and delinquent real property taxes and
Title Report Credit
general and special improvement assessments. Prorate the
Total Escrow & Title Fees
14
current year's real property taxes on closings that occur on or
after the 3rd Monday of August each year. Escrow Agent
Recording Fees:
shall withhold the prorated amounts from each party and pay
Release & Reconveyance
the lien of the current year's taxes in full.
Release of Lease
Partial Acquisition of Grantor's Property: Partial release of all
monetary liens and encumbrances, and leases of any kind.
At the discretion of Maricopa County, pay due and delinquent
Total Recording Fees
14
property taxes and general and special improvement
assessments, including full payment of taxes and
Other Charges:
assessments on individual assessor parcels within
Release Fees
Maricopa County's partial acquisition, and any Certificate(s)
Consent Fees
of Purchase. The current year's taxes shall not be prorated
S.R.V.W.U.A.
regardless of the closing date.
Taxes -Prorated
Easement(s): Consent to easement(s) by secured party(ies).
Total Other Charges
14
Other Disbursements:
Sub Total
Land*
$18,744.00
11
Improvements*
$4,140.00
10
TCE
$90,878.00
12
Total Purchase Price
$113,762.00
Total Escrow & Title Costs
14
Total Compensation (minus any
funds paid outside of escrow)
$ 113,762.00
TOTAL WARRANT**
*Escrow and title policy fees based on this amount only.
**Sum of "Total Closing Costs" and "Total Compensation" only.
Project Name:
Northern Parkway 99th Ave-87th Ave
Project Number:
TT0372
Assessor Parcel No.:
142-55-521
Item No.
D24448
Right of Way Agent:
Luis Alonzo
Telephone #
602-506-4893
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The GRANTORS and GRANTEE, having executed a conveyance of certain real property rights as described and depicted in the Exhibit(s) A-1, A-2,
B-1, B-2 and C, attached hereto and made a part hereof, and having delivered same to the above Title Company as Escrow Agent, said agent is directed
to deliver said conveyance to MARICOPA COUNTY, title to said property to be transferred upon execution of the conveyance by the MARICOPA
COUNTY BOARD OF SUPERVISORS.
The Escrow Agent shall first apply the purchase price on deposit to satisfy such taxes, Deed of Trusts, leasehold interests, special assessments, and
other encumbrances as may be authorized for payment, and the balance thereof shall be paid in accordance with the terms herein.
Instructions to Escrow Agent: Deposit all escrowed funds in escrow account and disburse same by check; pay encumbrances in accordance with this
agreement; prorate all agreed items; record such escrowed instruments as are necessary or proper in the issuance of title insurance; and pay the balance
of the escrowed funds to the party or parties entitled thereto. It is further understood and agreed that the Title Company shall not be responsible for
any liens or encumbrances not of record at the closing of escrow.
The Right of Way Agent or MARICOPA COUNTY Real Estate Department will be furnished a copy of the GRANTORS’ closing statement with the
following certification signed by an authorized officer: “This is to certify this is a true and correct statement of disbursement of funds collected from
MARICOPA COUNTY.”
The Escrow Agent is to request the GRANTORS acknowledge receipt of the amount shown on the closing statement as due GRANTORS. Either a
copy of this request or a copy of a signed receipt is to be retained in the escrow file.
MARICOPA COUNTY will pay the costs of the owners’ title insurance policy; fees associated with lender releases or loan pay-offs, including
endorsements, document preparation, and other expenses related thereto; escrow fees and other charges by escrow companies incidental to the closing
of escrow. In the alternative, MARICOPA COUNTY may, at its option, waive escrow and/or title insurance. Upon such waiver, the references to Title
Company, Escrow Agent and title insurance herein are not applicable.
If any element of this transaction is not handled through a title company, the conveyance will be delivered directly to MARICOPA COUNTY and
payment will be made direct from the GRANTEE to the GRANTORS after approval and acceptance by the MARICOPA COUNTY BOARD OF
SUPERVISORS and the final filing and recording of the documents.
It is understood and agreed the consideration expressed herein is accepted by the GRANTORS as full and complete compensation for the interest being
acquired. If the acquisition is a partial acquisition from a larger parcel, the consideration also includes; full and complete compensation for all injury
or damage to the GRANTORS’ remaining lands by reason of their severance from the part being acquired and the construction of the improvements in
the manner proposed by MARICOPA COUNTY.
MARICOPA COUNTY agrees to pay and the GRANTORS accept the payment in full for the property described herein:
Real property the amount of Eighteen Thousand Seven Hundred Forty-Four and No/100 Dollars ($18,744.00) described and depicted
in Exhibit A-1 and A-2
Temporary Construction Easement in the amount of Ninety Thousand Eight Hundred Seventy-Eight and No/100 Dollars ($90,878.00)
described and depicted in Exhibit B-1 and B-2
Improvements located on the property in the amount of Four Thousand One Hundred Forty and No/100 Dollars ($4,140.00) and
broken out as follows in Exhibit C.
If in the opinion of the Transportation Director it becomes necessary, MARICOPA COUNTY, or its agents, is hereby granted to enter upon the
remaining property for the purpose of private structure relocation in kind to the GRANTOR’s property, clear of the property described herein, and at
no expense to the GRANTORS except as may be herein otherwise agreed.
With respect to the development/redevelopment of the property prior to construction of project TT0372, GRANTOR will be responsible only for the
costs of improvements required by the County or a municipality as part of a regulatory approval related to development/redevelopment of the property.
MARICOPA COUNTY shall be responsible to the extent that damage occurs out of MARICOPA COUNTY's occupation of the GRANTORS’ property
caused by MARICOPA COUNTY's negligence, or by the negligent acts or conduct of its agents, employees, or contractors during the term of
MARICOPA COUNTY's temporary occupancy of the property. All claims shall be submitted in accordance with the requirements of ARS 12-821.
This Agreement is subject to cancelation pursuant to A.R.S. § 38-511.
It is further agreed settlement is being made in lieu of condemnation, and therefore not admissible as evidence of value, nor for any other evidentiary
purpose, in conjunction with any judicial or administrative proceeding.
Page 4 of 11
EXHIBIT "C”
Parcel No. 142-55-521
Item No. D24448 (
)
Site Improvements Within Existing ROW:
8 Tons of existing rock and gravel @$125 a ton and $200 delivery fee
=$1,200.00
16 liner feet ($80 s.f. x 80 s.f.) of sidewalk
=$1,440.00
3 Mature Shrubs/bushes (yucca rostrata, desert spoon, myrtle)
= $750.00
Shrub delivery fee
= $250.00
Drip irrigation system
= $500.00
Site Improvement Total
= $4,140.00
LEGAL DESCRIPTION
Northern Avenue
Portion of APN 142-55-521
D24448
Public Right-of-Way
A portion of Lot 13, Peoria Crossings Second Amended, recorded in Book 692, page 19, Maricopa
County Records (MCR), lying within Section 33, Township 3 North, Range 1 East, of the Gila and
Salt River Meridian, Maricopa County, Arizona, more particularly described as follows:
COMMENCING at the south quarter corner of said Section 33, a 3-inch Maricopa County
Department of Transportation (MCDOT) brass cap in handhole, from which the southeast corner
of said section, a 3-inch MCDOT brass cap in handhole, bears North 88°40'27" East (basis of
bearing), a distance of 2661.77 feet;
THENCE along the south line of said section, North 88°40'27" East, a distance of 1989.78 feet;
THENCE leaving said south line, North 01°19'33" West, a distance of 65.00 feet, to the southwest
corner of said Lot 13, a point of intersection with a non-tangent curve and the POINT OF
BEGINNING;
THENCE along the west line of said Lot 13, northerly along said non-tangent curve to the left,
having a radius of 631.53 feet, concave westerly, whose radius bears South 88°40'27" West,
through a central angle of 01°26'10", a distance of 15.83 feet, to a point of intersection with a non-
tangent line;
THENCE leaving said west line, North 86°40'50" East, a distance of 39.19 feet;
THENCE South 55°55'27" East, a distance of 29.67 feet, to the south line of said Lot 13;
THENCE along said south line, South 88°40'27" West, a distance of 63.16 feet, to the POINT OF
BEGINNING.
Containing 852 square feet or 0.0196 acres, more or less.
Subject to existing right-of-ways and easements.
This parcel description was prepared without the benefit of survey fieldwork and is based on client
provided information. Any monumentation noted in this parcel description is based on said
information.
LEGAL DESCRIPTION
Northern Avenue
Portion of APN 142-55-521
D24448 - TCE
Temporary Construction Easement
A portion of Lot 13, Peoria Crossings Second Amended, recorded in Book 692, page 19, Maricopa
County Records (MCR), lying within Section 33, Township 3 North, Range 1 East, of the Gila and
Salt River Meridian, Maricopa County, Arizona, more particularly described as follows:
COMMENCING at the south quarter corner of said Section 33, a 3-inch Maricopa County
Department of Transportation (MCDOT) brass cap in handhole, from which the southeast corner
of said section, a 3-inch MCDOT brass cap in handhole, bears North 88°40'27" East (basis of
bearing), a distance of 2661.77 feet;
THENCE along the south line of said section, North 88°40'27" East, a distance of 1989.58 feet;
THENCE leaving said south line, North 01°19'33" West, a distance of 80.83 feet, to the west line
of said Lot 13, a point of intersection with a non-tangent curve and the POINT OF BEGINNING;
THENCE along said west line, northerly along said non-tangent curve to the left, having a radius
of 631.53 feet, concave westerly, whose radius bears South 87°14'17" West, through a central
angle of 09°58'21", a distance of 109.92 feet, to a point of intersection with a non-tangent line;
THENCE leaving said west line, North 88°09'37" East, a distance of 59.28 feet;
THENCE South 01°10'35" East, a distance of 64.39 feet;
THENCE North 89°52'28" East, a distance of 264.71 feet;
THENCE North 02°09'30" West, a distance of 19.92 feet;
THENCE North 88°11'45" East, a distance of 27.73 feet, to the east line of said Lot 13;
THENCE along said east line, South 00°01'24" East, a distance of 75.69 feet, to the southeast
corner of said Lot 13;
THENCE leaving said east line, along the south line of said Lot 13, South 88°40'27" West, a
distance of 273.84 feet;
THENCE leaving said south line, North 55°55'27" West, a distance of 29.67 feet;
THENCE South 86°40'50" West, a distance of 39.19 feet, to the POINT OF BEGINNING.
Containing 22,949 square feet or 0.5268 acres, more or less.
Subject to existing right-of-ways and easements.
This parcel description was prepared without the benefit of survey fieldwork and is based on client
provided information. Any monumentation noted in this parcel description is based on said
information.