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2 <br /> SECTION ONE - INTRODUCTION <br /> Now,THEREFORE,the parties herein do mutually agree as follows: <br /> The City hereby adopts this Agreement in conjunction with the rezone of the Property described in <br /> Section Two of this Agreement to a PDO in accordance with provisions of Chapter 19.29 and <br /> 19.41.160 of the Everett Municipal Code. This Agreement supersedes and replaces the 2005 <br /> Development Agreement and any other development agreement between the Port and City relating <br /> to the Property. <br /> The City and the Port agree that the purpose of this Agreement is to comply with the Everett <br /> Municipal Code and the Conditions of Approval for the PDO-WC Rezone. The City and the Port <br /> further agree that this Agreement establishes certain rights of the Port to develop the Property in <br /> accordance with the conditions specified herein. Provided, however, that additional SEPA review, <br /> and issuance of appropriate City approvals and permits are required prior to any development <br /> aictivity.as set forth below. <br /> The City and the Port agree that each has entered into this Agreement knowingly and voluntarily and <br /> agree to be bound by its terms and conditions. <br /> It is the intent of this Agreement that all of the major components of Waterfront Place Central will <br /> be completed in several phases beginning in 2014 and continuing to no later than 2034. The City <br /> and the Port recognize that phasing and construction time among the different components of the <br /> Waterfront Place Central will differ and that various structures and districts will be completed in <br /> different years. Nevertheless, the Port shall provide public infrastructure improvements in <br /> accordance with Section 4.4 below. <br /> SECTION TWO -ACTION PROPOSED DESCRIPTION <br /> 2.1 PROPOSED ACTION <br /> The proposed action is the approval by the City of a revised Planned Development Overlay (PDO) <br /> zone for the Property described in Section 2.2 for Waterfront Place Central. The PDO includes this <br /> Agreement and its exhibits. <br /> The general location of the proposed action is between the Port's existing marina, north of and <br /> adjoining the Waterfront Commercial (W-C) zone boundary and the Jetty Landing Boat launch, <br /> and extending west of West Marine View Drive to the Snohomish River Channel. <br /> SIPage <br />