Laserfiche WebLink
12 <br />4.3.5 No Other Warranties. Except as otherwise specifically provided <br />in this Section 4.3, the Port transfers and conveys the Transferred Stormwater Infrastructure to <br />the City without warranty, express or implied, and without recourse. <br />4.3.6 Bill of Sale. If either party to this Agreement determines that a <br />formal bill of sale is required for the transfer of the Transferred Stormwater Infrastructure, then <br />both parties will cooperate to draft and execute such a bill of sale. <br />4.4 Lot 8. Prior to the recording of the Stormwater Drainage Easement, the Port <br />shall either procure the Lot 8 Stormwater Drainage Easement or install an isolation valve, all as <br />described below: <br />4.4.1. Lot 8 Stormwater Drainage Easement. Lot 8 is currently <br />owned by Snohomish County under a Statutory Warranty Deed recorded September 21, 2012 <br />under Snohomish County Auditor's File No. 201209210464. Lot 8 is currently used and <br />occupied by Regional Disposal Company under a Lease dated January 29, 2008, as amended by <br />First Amendment to Lease dated as of September 19, 2012. The Port shall use reasonable efforts <br />to cause Snohomish County and its Lessee, Regional Disposal Company, to deliver to the City a <br />fully executed and recordable utility easement, substantially in the form and substance attached <br />hereto as Exhibit "11", for stormwater drainage, together with its associated appurtenances and <br />facility infrastructure (the "Stormwater Infrastructure Easement (Lot 8)"). <br />4.4.2 Isolation Valve. If for any reason the Port is unable to cause <br />execution and delivery to the City of Stormwater Tnfi-astructure Easement (Lot 8), then the Port <br />shall at its own cost cause installation of an isolation valve in the stormwater pipeline(s) leaving <br />Lot 8, for the purpose of allowing the Lot 8 stormwater system to be isolated from the rest of the <br />Riverside Business Park system. The install location(s) and valve specifications are subject to <br />prior City approval, which will not be unreasonably withheld. The isolation valve will be part of <br />the Transferred Stormwater Infrastructure. <br />4.5 Post -Recording of Stormwater Drainage Easement. <br />4.5.1 City Maintenance and Operation. Upon recording of the Stormwater <br />Drainage Easement, the City will operate, maintain, and replace the Transferred Stormwater <br />Infrastructure and the Stormwater Pond in accordance with its usual and customary municipal <br />standards and practices. <br />4.5.2 Stormwater Utility Surcharge. The Port acknowledges that the <br />stormwater system in the Riverside Business Park is of such a character that the costs to operate, <br />maintain and replace the system will be in excess of the costs usually incurred by the City to <br />operate, maintain and replace stormwater systems. Accordingly, the Port acknowledges and <br />agrees that the City may impose a stormwater utility surcharge on the properties of the Riverside <br />Business Park to pay for such excess costs, which the City will calculate and apportion between <br />Riverside Business Park property owners/utility users in accordance with commonly accepted <br />utility ratemaking methodologies. The stormwater utility surcharge will include without <br />limitation recovery for the City of (1) all City stormwater project cost increases associated with <br />9 <br />65 <br />