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<br />REC� �,p C�;1/ o;`EdE-eE•r
<br />JUN l 1.198� 1 G/ Pva��� li/O.�S DE�T
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<br />THIS AGREEMENT between Norton Indusiries, a Washington Corporation
<br />hereinafter called "Owner," and the City of Everett, hereinafter called "City,"
<br />acknowledges:
<br />WHEREAS, Owner has applied for a building permit for certain property
<br />1028 W. Marine View Drive, Everett, Washington (Exhibit 1, legal description
<br />incorporated herein by reference); and
<br />WHEREAS, Ordinance No. 793-81 requires in connection with the improvements
<br />under the said building permit that certain improvements be performed on the
<br />street, curb, storm drainage system and sidewalks adjacent to said property and
<br />West Marine View Drive; and
<br />WHERERS, Section 2 of Ordinance No. 793-81 provides for an exception to
<br />said street, curb, storm drainage and sidewalk improvements where plans for a
<br />more comprehensive improvement exist which would alter the improvements re-
<br />quired to be constructed under current City standards; and
<br />WHEREAS, the City Council finds that the Port of Everett area in the
<br />vicinity of said property is in a transition wherein street improvements may be
<br />modified within the next five years.
<br />NOW, THEREFORE, Uwner and City of Everett agree that, in consideration of
<br />issuance of a building permit to improve the said property and occi�,pancy permit
<br />therefore by the City, Owner a9rees to prepare engineering plans and specifi-
<br />cations, surveys, pay permit fees and install the iniprovements required under
<br />Ordinance No. 793-51 (limited to pavement and base, curb and gutter, storm drain-
<br />age system and sidewalk, driveway approaches and utility relocations to City
<br />standards) at such time as the adjacent private property owners to either the
<br />north or to the south of the Owner's property have installed similar public im-
<br />provements; provided that in any event said public improvements to the above
<br />�wi�i,�•'.; �,�,ip��rl.,y sh��ll hc insl.allnd nn nr hefore July 1. ]991.
<br />Owner acknowledges that he has reviewed and understands the nature and
<br />extent of the public improvements stipulated to be installed and further ack-
<br />nowledges that said improvements are �ecessary to constitute a finished ap-
<br />pearance to the Owner's property and to integrate the Owner's improvement with
<br />the public right-of-way and the surrounding property.
<br />This agreement shall be a covenant touching, concerning and runnina with
<br />the land and shall be binding or Owner's heirs, assigns or successors in in-
<br />terest.
<br />In the event that the said improvements are not installed by JuIY 1••
<br />1991, or at such time as public improvements are performed either to the
<br />northerly or southerly adjacent property, Owner shall thereafter pay the City
<br />an amount equal to the costs of the improvements. It is agreed that the costs
<br />of the said public improvements are presently estimated at $16,476 per atta�:hed
<br />estimate (Exhibit 2), payment to the City shall be based on said costs estimated
<br />at the time of execution of this agreement subje.;t to reasonable escalatio��
<br />which shall not exceed the Enaineering N?ws Record Index of construction costs
<br />for the Seattle area between the date of execution hereof and the date of pay-
<br />ment. As the sole condition precedent to collection of said amount, the City
<br />Engineer shall sub�nit to the Owner a demand for payinent on the Engineer's up-
<br />860I:��. � E�� ��
<br />vo� 197?.racE1;0i
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