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Claudia Walker agrees to pay deferred property taxes on
hers and Bert’s share.
The Settlement Agreement was also signed by Mr. Walker, but it
was not dated by him.
On September 26, 1997, Mr. Walker signed and had notarized
the quitclaim deed that conveyed his 25-percent interest in the
Happy Valley property to petitioner. The Settlement Agreement
was attached to the quitclaim deed and provided the consideration
for the transfer of Mr. Walker’s 25-percent interest in the Happy
Valley property to petitioner.
On September 30, 1997, petitioner signed an earnest money
agreement with a new and unrelated prospective buyer, Parker
Development Northwest, Inc. (Parker Development), for the
potential sale of the Happy Valley property. The earnest money
agreement acknowledged earnest money of $200,000 and provided for
release of that $200,000 to the listed sellers, petitioner and
the Walker Family Irrevocable Trust, by October 15, 1997, and
closing on or before October 31, 1997. On October 1, 1997, the
trustee for the Walker Family Irrevocable Trust, which, as
previously noted, owned a 50-percent interest in the Happy Valley
property, signed the earnest money agreement. Mr. Walker did not
sign the earnest money agreement and is not mentioned in this
document.
The quitclaim deed that conveyed Mr. Walker’s interest in
the Happy Valley property to petitioner was recorded on
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Last modified: May 25, 2011