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1 <br /> REAL ESTATE PURCHASE AND SALE AGREEMENT <br /> <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 Seller identified below in the Basic Provisions (“Seller”), <br />(individually a “Party” and collectively the “Parties”). Seller desires to sell the Property as 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 /> <br />1. BASIC PROVISIONS. The following definitions and provisions apply and are part of <br />this Agreement: <br /> <br />Seller Charlotte E. Walker <br />Seller Address <br />505 S Green Island Way <br />Camano Island, WA 98292 <br />cwgrnisle@gmail.com <br />Additional Notice addresses for Seller: <br />Dave Speers Executive Vice President Kidder Matthews 601 Union Street, Suite 2700, Seattle, WA 98101 dave.speers@kidder.com <br />Jeffrey Capeloto Anderson Hunter 2707 Colby Avenue, Suite 1001 Everett, WA 98206 jcapeloto@andersonhunterlaw.com <br />Purchase Price $2,550,000.00 <br />Deposit $50,000 (if “0” or left blank, then there is no deposit) <br />Real Property The Seller is the owner of the real property located at 3310 Paine Avenue, Everett, WA. The legal description of real property is attached as Exhibit A and incorporated herein by this reference. If the parties determine that a drawing of the real property is necessary, it will also be included as part of Exhibit A. <br />Title Company and Closing Agent <br />Rainier Title, 2722 Colby Ave., Suite 125, Everett, WA 98201 <br />Feasibility Study Period Feasibility Study Period expires 90 calendar days after the Effective Date.