3800 RIVERFRONT BLVD 2025-07-23 - Laserfiche WebLink

7/8/2021 Landmark Web Official Records Search '702107080970 Document:EASEMENT Ree: S225.00 Page-5 of 19 Record Date:7/8/2021 3:34 PM Snohomish County, WA RCI Parties' representative: Shelter Holdings 11624 SE 5th Street Bellevue —,Washington, 98005 Attn: Everett Riverfront ._ 4. Shared Storm tat k`ystem; Cost Allocation. a. The Parties &€ ate Share of Costs. Unless otherwise provided in this Agreement, the City and the RCI Partiesth ",,""-share the costs of the Shared Stormwater System as follows. The City's share shall be 121/1a ('iQety's Proportionate Share"), which is calculated by dividing the square footage of Riverfront Blvd by the f htnbined square footage of Riverfront Blvd and the West RCI Property. The RCI Parties share shall be ,8% ("RCI Parties' Proportionate Share"), which is calculated by dividing the square footage of the West RCI Property by the combined square footage of Riverfrom Blvd and the West RCI Property. The Parties have previously agreed upon and hereby confirm the calculations resulting in these percentages~ ,allowing construction of the East RCI Property System, if the East RCI Property System routes ,vatero, tle Shared Stormwater System, then the City's Proportionate Share and the RCI Parties' Proportionate'Sharc shall be adjusted to the extent that the East RCI Property System stormwater is treated by the Shared S't6rinwater System. The proportionate shares will be based on total square footage routed to the Shared SIR ater System water quality treatment units. b. Annual Payment for Maintenance. On or -b7'%rre the I Sth day of each January, the City shall pay the RCI Parties an advance annual payment in the, amount of $4,860 for the maintenance of the Shared Stormwater System during such year. (The payment for 2021 will be $2,835 and the City shall pay the RCI Parties such amount within 30 days after the recording of this Agreement_) Every other year on or before December 1st, beginning in 2022, RCI Pamir` will provide the City will the total Shared Stormwater System maintenance costs under this Agreement together with reasonable back- up documentation for the preceding two year period. To the extent that the City's Proportionate Share of the costs of such two year period exceeds the amount the City actually paid to RCI Parties, the RCI Parties shall provide an invoice to the City for the amount that actual maintenance costs were in excess of such actual annual payments. The City shall pay the invoice within 30 days. To the extent that the City's Proportionate Share of the costs of such two year period is less than the amount that the City actually paid RCI Parties for such period, then the amount of overpayment shall be credited toward the next payment due from the City to the RCI Parties under this Agreement. Actual costs may include without limitation RCI Parties or Landfill Owners Entity staff and vehicle time, contractor costs,. materials costs, and disposal costs. The advance annual payment shall automatically increase by 3% per year beginning in 2023. The Parties may further adjust the amount of advance annual payment by written agreement signed by both parties, no later than December I st of the prior year_ This adjustment will be reasonably based on prior years' actual costs and the allocation in Section 4(a). C. Repair. Replacement Modification and Relocation Costs. Any and all costs (including without limitation design and construction costs) incurred for the operation, maintenance, replacement, modification, and repair of the Shared Stormwater System, including without limitation any such costs made necessary by wear and tear, settlement, end -of -useful life, damage caused by the general public on the RCI Property or Riverfront Blvd or by applicable laws, will be paid in accordance with the -cost allocation in Section 4(a) above; provided. that any such costs incurred in connection with (i) any modification or relocation of the Shared Stormwater System required by a Party, or (ii) caused by a Party's negligence or willful misconduct, shall be paid solely by such Party. d. Invoices. If any required annual payment is not paid when due or if any invoice is not paid in full within 30 days after delivery of the invoice, the unpaid amounts shall bear interest from