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• <br /> Section 4: Payment Required Before Effective. <br /> This ordinance shall not become effective until the Petitioners, as the abutting property owners <br /> upon the rights-of-way herein described, have compensated the City the total amount of seventy <br /> thousand dollars ($70,000.00), the equivalent of the full appraised value of the rights-of-way to <br /> be vacated. <br /> The Petitioners shall have ninety (90) days following passage of this Ordinance to fully comply <br /> with this Section 4. Unless otherwise amended by City Council, this Ordinance shall be null and <br /> void if the Petitioner fails to fully comply with this Section 4 within ninety (90) days following <br /> passage of this Ordinance. <br /> In no event will this Ordinance become effective before fifteen (15) days after the signing hereof. <br /> Section 5: Recording. <br /> Upon passage of at least fifteen (15) days after the signing of this Ordinance and receipt of the <br /> compensation set forth in Section 4, this Ordinance shall become effective and shall be recorded, <br /> with the attached covenants, within the Snohomish County Auditor's Office. <br /> Section 6: Corrections. <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 /> Section 7: Development Effect. <br /> The Petitioners agree, by way of the attached covenants which are incorporated herein by <br /> reference, that development on the abutting properties shall be restricted to one single-family <br /> dwelling and related structures incidental thereto. The attached covenants shall be recorded with <br /> this Ordinance. <br /> Ray St _.nson, Ma or <br /> ATTEST: <br /> JY/Lers_) //17,0-4-Ata-- <br /> Page 3 of 4 <br />