Wilson, Lisa Sjong 2/7/2023 - Laserfiche WebLink

POSSESSION AND USE AGREEMENT AND WHEREAS, the Owner requires additional time to evaluate said offer and/or to resolve any questions concerning just compensation; NOW THEREFORE, for and in consideration of the payment of said offer, the Owner hereby grants to the Agency a right to possess and use the above described real estate and the parties further agree that: The real estate is necessary for a public use of the Agency. 2. The Agency will issue payment to the Owner of the amount of the offer stated above, subject only to deduction of the value of interests of others therein. 3. Execution of this agreement by the undersigned parties shall not prejudice such parties' rights to subsequent adjudication of just compensation pursuant to state law, and neither shall this agreement, nor the basis therefore, be construed as an admission of fair market value or just compensation by any of the parties named herein. 4. The date of valuation for the determination of just compensation shall be the date that this agreement is accepted and approved. 5. The Owner hereby waives the requirement of a written notice to move, as provided by RCW 8.26.180, and will surrender possession of the above -described real estate to the Agency not later than February 14, 2023. Owner agrees to provide an IRS W-9 form prior to payment being issued. 6. If the parties are unable to reach agreement by May 1, 2023, they will engage in mediation in a good faith effort to reach a settlement on or before June 1, 2023. The City shall pay one half of the mediator's cost and the Owners shall pay the other half. 7. If the parties are unable to reach an agreement on just compensation for the taking and damaging of the above referenced property at mediation the Agency shall promptly institute condemnation proceedings. LPA-317 Page 2 of (4) Pages Parcel No. 5 7/2016