Laserfiche WebLink
1 <br />EXCLUSIVE NEGOTIATING AGREEMENT <br />This Exclusive Negotiating Agreement (this “Agreement”), dated and effective as <br />of date of last signature below, is by and between the CITY OF EVERETT, a Washington <br />municipal corporation (the “City”) and ZANKHOS LLC, a Delaware limited liability <br />company (“Zankhos”). <br />RECITALS <br />A.The City owns certain real property located along the Snohomish River <br />and Railway Avenue in Everett, WA (the “Property”). The Property is approximately <br />shown in the attached drawing. <br />B.Zankhos is interested in purchasing or long-term leasing the Property or <br />a portion thereof. The purpose of this Agreement is to provide for Zankhos to review <br />the Property and to negotiate with the City. <br />AGREEMENT <br />The parties agree as follows: <br />1.Negotiation Period. For a period of 180 days commencing as of the <br />effective date of this Agreement (the “Negotiation Period”), the City will not negotiate <br />to sell or lease the Property with any person other than Zankhos. The preceding <br />sentence does not apply to individual City Council members. Zankhos may extend the <br />Negotiation Period by 90 days effective upon written notice by email to Dan Eernissee at <br />deernissee@everettwa.gov. <br />2.Termination of Agreement. This Agreement automatically terminates <br />upon expiration of the Negotiation Period. <br />3.Limitations on Agreement. By its execution of this Agreement, the City is <br />not committing itself to sell or lease of the Property to Zankhos. This Agreement does <br />not constitute a transfer or any other disposition of the Property. Execution of this <br />Agreement by the City is only an agreement to enter into a period of exclusive <br />negotiation according to the terms of this Agreement, reserving final and complete <br />discretion to the City Council as to the final approval of any lease or purchase <br />agreement. Neither party to this Agreement has any claim against the other party if the <br />parties are unable to reach agreement on a sale or lease. For example, this means that <br />any funds spent by either party in anticipation of sale or lease are spent at the sole risk <br />of the spending party. Nothing in this Agreement shall prevent or constrain the City