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B. The City has operated and maintained the Van Valey House for 17 years. <br /> While beautiful, the Van Valey House has become a financial drain on City resources, <br /> particularly in this present time of budget shortfalls. <br /> C. Because of this, City representatives have met with the Morrows. The City <br /> informed the Morrows that the City intends to no longer use the Van Valey House. City <br /> non-use of the Van Valey House started August 1, 2021. <br /> D. In connection with the 2002 conveyance of Van Valey House, the Morrows <br /> and the City executed the Donation Agreement dated October 30,2002,which was recorded <br /> under Snohomish County recording number 200211011276 (the "Donation Agreement"). <br /> The Donation Agreement contains provisions that pertain to the City's transfer and use of <br /> the Van Valey House. Section 1.A.2 of the Donation Agreement states in part: <br /> The City, in accordance with the provisions of this Agreement, hereby accepts the <br /> [Van Valey House] . . . subject to the following: <br /> The City's interest in the [Van Valey House] shall transfer by quitclaim deed to an <br /> historic non-profit entity designated by City Council . . . if at any time prior to <br /> November 1, 2042,the City: <br /> Fails to use the Property for City of Everett use which may include,but is not limited <br /> to, City office space,meeting space and reception space <br /> E. The Parties agree that the City's continuing non-use of the Van Valey House <br /> will trigger Section 1.A.2 of the Donation Agreement,requiring upon such continuing non- <br /> use transfer of the Van Valey House to "an historic non-profit entity designated by City <br /> Council." <br /> G. The Everett Museum of History ("Museum") desires to own the Van Valey <br /> House. The City and the Morrows agree that, once the Museum is the "historic non-profit <br /> entity designated by City Council,"transfer to the Museum by the City by quit claim deed <br /> without payment from the Museum is in compliance with and required by Section 1.A.2 of <br /> the Donation Agreement. <br /> H. The Morrows and the City have agreed to terminate the Donation Agreement <br /> in its entirety upon closing of the transfer to the Museum, so that the Museum can receive <br /> the Van Valey House from the City free and clear of the Donation Agreement. <br /> AGREEMENT <br /> The Morrows and City agree as follows: <br /> 2 <br />