Everett Museum of History 5/1/2022

BOOKMOBILE LOAN AGREEMENT This Agreement is by and between the City of Everett, a municipal corporation of the State of Washington ("City") and the Everett Museum of History ("Museum"). This Agreement is dated for reference purposes May 1, 2022. RECITALS A. In 1924, the Everett Public Library invested in a Model T Ford truck modified to serve as a "book wagon." It was the first "bookmobile" in Washington State, and it was given the name "Pegasus." Local historians believe that the name was a reference to Christopher Morley's book Parnassus on Wheels, which included a mobile bookstore. B. The bookmobile was later upgraded to a Model AA Ford, which served the Library faithfully for 20 years. After ending its service in 1950, the bookmobile was sold at auction and saw various uses around Snohomish County. C. The bookmobile was re-discovered in 1992. A years-long restoration process ensued, involving the generous donation of funds, labor, and mechanical skill of many members of Everett's community. Eventually, the bookmobile was able to ride again, and became a fixture in local parades. D. In this Agreement, the restored Model AA bookmobile is referred to as "Pegasus." The City does not have the budget to display Pegasus. However, the City wants Pegasus to remain part of the Everett Community for future generations to enjoy. The Museum desires to add Pegasus to its museum collection and to display Pegasus. Accordingly, the purpose of this Agreement is to formalize a long-term loan of Pegasus from the City to the Museum for indoor display purposes. AGREEMENT The parties agree as follows: 1. PEGASUS LOAN Subject to the terms and conditions of this Agreement,the City agrees to loan Pegasus to the Museum (the "Loan"). 2. TERM This Agreement is effective when both parties have signed it. The term of the Loan begins when the Museum picks up Pegasus from the City and expires on August 1, 2040, if not terminated sooner as set forth in this Agreement. 1