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5.9 RECORDING — IMPLEMENTATION AND PERFORMANCE; BINDING <br /> ON SUCCESSORS AND ASSIGNS: <br /> Each party shall take such action(including,but not limited to the execution, acknowledgement and <br /> delivery of documents) as may be reasonably requested by the other party for the implementation or <br /> continuing performance of this Agreement. This Agreement shall be recorded with the Snohomish <br /> County Auditor's office, as necessary to be disclosed on title documents for the property and shall <br /> run with the land as binding on the parties and their successors and assigns. It is mutually agreed <br /> that the terms of this Agreement touch and concern the land and shall be covenants running with the <br /> land. The parties acknowledge that development of the Property likely will involve sale and <br /> assignment of portions of the Property to other persons who will, subject to this Agreement, own, <br /> develop and/or occupy portions of the Property and buildings thereon. Upon such assignment, the <br /> assignee shall be entitled to all interests and rights and be subject to all obligations under this <br /> Agreement. In the event of such sale,the Port shall thereafter be released of liability hereunder as to <br /> that portion of the Property so transferred only by written approval of the City, which consent shall <br /> not be unreasonably withheld. In considering such release of the Port from liability, the City must <br /> determine that the Port is in compliance at the time of transfer with all of its obligations under this <br /> Agreement, what the transferee has the experience and financial capability to perform its obligations <br /> under this Agreement, and/or that the City has been provided with adequate security to assume such <br /> performance. <br /> IN WITNESS WHEREOF, the parties hereto executed this Agreement the day and year first above <br /> written. <br /> CITY OF EVERETT PORT OF EVERETT <br /> ).4o <br /> Ray Ste,anson,Mayor Les Reardanz,Executive Director <br /> (A&/ <br /> 1,/// ata <br /> ATTESTED:Cey Clerk <br /> Approved as to form: Approved as to form: <br /> 'ity Attorney Port Attot ey <br /> STATE OF WASHINGTON) <br /> 23I Page <br />