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REAL ESTATE PURCHASE AND SALE AGREEMENT <br />This Real Estate Purchase and Sale Agreement (this Agreement is effective as of the <br />date of last signature below Effective Date , between the City of Everett, a Washington <br />municipal corporation (Buyer ), and the Selleridentified below in the Basic Provisions (Seller ), <br />Party Parties Seller desires to sell the Propertyas defined <br />below, Buyer desires to purchase such Property, and, in consideration of the mutual agreements <br />set forth herein, the Parties agree as follows: <br />1. BASIC PROVISIONS. The following definitions and provisions apply and are part of <br />this Agreement: <br />Seller Address <br />5500 S. 1st Avenue, LLC <br />7500 Roosevelt Way NE <br />Seattle, WA 98115 <br />gordon@rpaseattle.com <br />Purchase Price $ 500,000 <br />Deposit $25,000 <br />Real Property The Seller is the owner of the real property at Snohomish County Parcel <br />No. 00500302800600, which is at the intersection of S. 1st Avenue and <br />Lenora Street in Everett. The legal description of real property is attached <br />as Exhibit A and incorporated herein by this reference. If the parties <br />determine that a drawing of the real property is necessary, it will also be <br />included as part of Exhibit A. <br />Title Company <br />and Closing <br />Agent <br />Old Republic Title, Ltd. 1604 Hewitt Avenue, Suite 701, Everett, WA 98201 <br />Email: cs.wa@ortc.com <br />Feasibility Study <br />Period <br />There is no Feasibility Study Period in this Agreement. <br />Buyer Address Real Property Manager <br />City of Everett <br />802 E. Mukilteo Blvd. <br />Everett, WA 98203 <br />Buyer Email <br />Address <br />realproperty@everettwa.gov