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governmental statutes, regulations, ordinances, or resolutions require special handling or <br /> notification in its collection, storage,treatment, or disposal. <br /> 6. Title. The Grantor represents and warrants to the City that Grantor is lawfully <br /> seized and possessed of the Property, that Grantor has a good and lawful right and power to <br /> grant the Easement and enter into this Agreement; and that the Property is free and clear of <br /> monetary encumbrances. The City acknowledges and agrees that it is taking the Easement <br /> without any other title warranty from Grantor. <br /> 7. Assignment; Binding Effect. This Agreement and the Easement hereunder and the <br /> conditions herein contained shall be covenants running with the land and shall inure to the <br /> benefit of and be binding upon the parties hereto and their successors and assigns, including any <br /> subsequent owners of the Property. <br /> 8. Termination of Agreement. The Water Lines only serve the Property. The Grantor <br /> and City acknowledge and agree that, because of the marine terminal nature of the Easement <br /> Area and the complexity of the Property, it may be better for the Grantor to own and maintain <br /> the Water Lines. Accordingly, each party to this Agreement has an option to terminate this <br /> Agreement and the Easement hereunder effective on twelve months prior written notice to the <br /> other party. If this option is exercised,then Grantor and City shall: (A) execute and record such <br /> instruments as necessary to terminate this Agreement and the Easement hereunder and to <br /> transfer ownership of the Water Lines to Grantor, which such transfer will be strictly AS-IS; and <br /> (B) complete the work to install necessary facilities(such as backflow device(s) and meter(s)) and <br /> make other necessary improvements so that the demarcation line between Grantor-owned <br /> facilities and City-owned facilities is located on the boundary line of the Property, with Grantor <br /> and City evenly bearing the costs of all such work. <br /> 9. Miscellaneous. This Agreement shall be construed under and governed by the <br /> laws of the State of Washington. Either party's failure to enforce any provision hereof shall not <br /> constitute waiver thereof in any future instance. If any provision hereof is held to be <br /> -7- <br />