Resolution 5666 - Laserfiche WebLink

AMENDED AND RESTATED DEVELOPMENT AGREEMENT THIS AMENDED AND RESTATED DEVELOPMENT AGREEMENT(this "Agreement") is entered into this day of 4lgst, 2005, by and between Rinker Materials Corporation, a Georgia corporation, the successor in interest to CSR Associated(hereinafter "Rinker"), Food Services of America, a Delaware corporation(hereinafter"FSA"), and the City of Everett, a municipal corporation under the laws of the State of Washington(hereinafter the "City"). This Agreement amends and restates the Development Agreement by the same parties dated March 28, 2000 (the "Original Agreement"). RECITALS A. At the time of the Original Agreement Rinker owned approximately 288 acres in the Development. As of the date of this Agreement, Rinker currently owns the Transfer Lots, defined below, and 124.74 acres that it will develop, as legally described on Exhibit A, and lying within the incorporated boundaries of the City(hereinafter the "Rinker Property"). FSA owns approximately 32 acres of adjacent real property(hereinafter the"FSA Property"),which is legally described in attached Exhibit A-1, and lying within the incorporated boundaries of the City. The Rinker Property is currently used by Rinker for aggregate mining and processing, asphalt and concrete production, landfill disposal, and for fabrication of concrete pipe products and the FSA Property by FSA for warehouse storage and food distribution services. The Rinker Property and the FSA Property are collectively referred to herein as the "Development Property." Aggregate resources on the Rinker Property will be exhausted at some point in the near future, FSA has undeveloped acreage in the FSA Property, and Rinker and FSA desire to re-develop the