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That this ordinance shall not become effective until the owner(s) of the property abutting upon <br /> the right of ways herein described have compensated the City of Everett in an amount equal to <br /> one hundred percent of the current appraised value of the area herein described. The abutting <br /> property owner(s) shall have ninety (90) days following passage of this ordinance to exercise this <br /> vacation. Unless otherwise amended by City Council, this ordinance shall be null and void if the <br /> abutting property owner(s) fail to exercise this vacation within ninety (90) days following <br /> passage of this ordinance. <br /> Section 5: <br /> That all moneys derived from the sale of the above-described right-of-way vacation shall be <br /> deposited in the "Real Property Acquisition Fund." <br /> Section 6: <br /> Upon payment of the required compensation and fulfillment of the conditions set forth in Section <br /> 4, this ordinance shall become effective and shall be recorded within the Snohomish County <br /> Auditor's Office. <br /> Section 7: <br /> The City Clerk is authorized to make necessary corrections to this ordinance including, but not <br /> limited to, the correction of scrivener's/clerical errors, references, ordinance numbering, <br /> section/subsection numbers and any references thereto. <br /> STEPHA`' ON, MAYOR <br /> ATTEST: <br /> /j <br /> O1I <br /> CIT CLERK <br /> Passed: 9/224/08 <br /> Valid: 2b/08 <br /> Published: 10/01/08 <br /> 2 <br />