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G-445 Equipment Watchman <br /> Location of watchman facility for security reasons shall be approved by the Contract <br /> Administrator prior to move in. <br /> G-450 Encumbrances <br /> This Contract and Purchaser's activities are: <br /> a. Subject to easement for power transmission lines. <br /> b. Subject to easement for water transmission lines. <br /> c. Subject to easements for road use by others. <br /> d. Subject to easement granted to the City from Washington State Department of Natural <br /> Resources (Snohomish County Auditor File#9201160106). <br /> e. Subject road easement granted to the City from Washington State Department of <br /> Natural Resources (Permit No. 50-091200). <br /> SECTION P: PAYMENTS AND SECURITY <br /> P-11 Initial Deposit <br /> Purchaser shall pay the City five hundred eight thousand eight hundred forty-two dollars <br /> and forty cents ($508,842.40) as an initial deposit. This initial deposit shall be maintained <br /> throughout the Contract and may be used as a final payment. If the operating authority on <br /> this Contract expires or this Contract expires without Purchaser's payment of the full <br /> amount specified in Clause P-023,the initial deposit will be immediately forfeited to the <br /> City, and will be offset against Purchaser's remaining balance due. Any excess initial <br /> deposit funds not needed to ensure full payment of the Contract Price, or not needed to <br /> complete any remaining obligations of the Purchaser existing after Contract expiration, will <br /> be refunded to the Purchaser. <br /> P-23 Payment for Forest Products <br /> Purchaser agrees to pay the total Contract Price of five million eighty-eight thousand four <br /> hundred twenty-four dollars ($5,088,424.00) plus four hundred dollars ($400.00) in fees. In <br /> the event the courts invalidate the Forest Resource Conservation and Shortage Relief Act of <br /> 1990 (Pub. L. No. 101-382) in a manner that would allow unprocessed timber from this <br /> timber sale to be exported, the Purchaser may convert this timber sale to an unrestricted <br /> timber sale by notifying the City in writing. By converting this timber sale to an unrestricted <br /> timber sale, Purchaser agrees that the total Contract Price will be adjusted using a factor of <br /> 1.350 to adjust the Contract Price to a fair market value. In the event that timber has been <br /> removed from the sale area at the time the Purchaser notifies the City that Purchaser is <br /> converting the sale, Purchaser agrees to pay a total Contract Price that is calculated by <br /> Page 19 of 34 <br /> 4/15/21 Agreement No.2021-01 <br />