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CITY <br /> ` EVERETT <br /> PURCHASE AND SALE AGREEMENT <br /> This Agreement is made between CITY OF EVERETT (Buyer) and VINCENT PREACH <br /> (Seller), the owner of the Property identified herein. <br /> 1. PROPERTY.The Property is the boathouse located at Port of Everett Marina <br /> Central Dock H, Slip-18, Snohomish County Boathouse Parcel#00970100800118, <br /> together with Seller's slip/moorage rights, if any,for Slip-18 (Dock H) at Port of <br /> Everett Marina, and together with all machinery, equipment, furnishings and all <br /> other appurtenances and tangible and intangible property associated with the <br /> boathouse. The Property does not include items listed on the attached Exhibit A. <br /> 2. PURCHASE PRICE. The Purchase Price of the Property is one hundred fifty <br /> thousand dollars ($150,000), subject to the provisions herein. <br /> 3. EFFECTIVE DATE. The Effective Date of this Agreement is the date of signature of <br /> Seller or the date of signature of the Mayor of the City of Everett for Buyer, <br /> whichever signature is later. <br /> 4. BUYER'S INSPECTIONS/BUYER'S ACCEPTANCE OR REJECTION. Buyer at Buyer's <br /> expense will obtain a marine surveyor's appraisal and survey and will obtain any <br /> other inspections or surveys deemed necessary by Buyer. Seller will provide <br /> access for Buyer's inspectors, surveyors and appraisers to enter the Property. <br /> Inspectors/surveyors/appraisers will be selected by Buyer. Inspections may <br /> include, for example, structural, electrical, and pontoon inspections. Written or <br /> email acceptance or rejection must be delivered to Seller by Buyer within 30 days <br /> after the Effective Date. In the event that circumstances regarding COVID-19 <br /> make the 30 days impractical, the 30 days will be extended. Acceptance or <br /> rejection is at Buyer's sole discretion. Acceptance or rejection may be (A) emailed <br /> to the following Seller email address:NitrIcee,lo(,'.•,,(!;t+,. ,,.din which case delivery <br /> is deemed effective on sending or(B) mailed to the following Seller address: <br /> c�.,a„e mac, 1 <br /> ...,c:. ; �-i , in which case delivery is deemed effective on mailing. <br /> Buyer's failure to so deliver an acceptance or rejection shall be construed as <br /> rejection. If Buyer rejects, then this Agreement terminates without any liability to <br /> either party. <br /> 5. CITY COUNCIL APPROVAL. Seller acknowledges and agrees that the Everett City <br /> Council must approve this Agreement in order for Closing to occur. If the Everett <br /> City Council does not approve this Agreement within 30 days after the Effective <br /> Date,then this Agreement terminates without any liability to either party. In the <br /> event that circumstances regarding COVID-19 make the 30 days impractical, the <br /> 30 days will be extended. <br /> 1 <br />