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the total Purchase Price shall be reduced by the amount of any insurance proceeds received by <br /> Seller at or prior to closing. <br /> 11.2 Condemnation <br /> . If the Property is or becomes the subject of a condemnation proceeding prior to <br /> Closing, Purchaser may, at its option, terminate this Agreement by giving notice of such <br /> termination to Seller on or before the Closing Date, and this Agreement shall be of no further <br /> force or effect; provided, however, that Purchaser may elect to purchase the Property, in which <br /> case the total Purchase Price shall be reduced by the total of any condemnation award received <br /> by Seller at or prior to Closing. <br /> 11.3 Termination <br /> . If this Agreement is terminated under this Section 11, the escrow shall be terminated, <br /> the Deposit shall immediately be returned to Purchaser, all documents and other funds shall be <br /> returned to the party who deposited them, and, neither party shall have any further rights or <br /> obligations hereunder, except as otherwise provided in this Agreement, and except that Seller <br /> and Purchaser shall each pay one-half of any costs of terminating the escrow. <br /> 12. Notices <br /> . All notices, waivers, elections, approvals and demands required or permitted to be <br /> given hereunder shall be in writing and shall be personally delivered or sent by United States <br /> certified mail,return receipt requested, to the addressee's mailing address set forth below. Either <br /> party hereto may, by proper notice to the other, designate any other address for the giving of <br /> notice. Any notice shall be effective when personally delivered or, if mailed as provided herein, <br /> on the earlier of actual receipt or three(3)business days after the date deposited in the mail. <br /> Purchaser: The Tulalip Tribes of Washington <br /> 6700 Totem Beach Road <br /> Tulalip, Washington 98271 <br /> Attn: John McCoy <br /> Government Affairs <br /> (360) 651-4000 <br /> Seller: City of Everett <br /> 2930 Wetmore Ave., 10th Floor <br /> Everett, WA 98201 <br /> Attention: Mark Soine <br /> (425) 644-7185 <br /> 7 <br /> S:\MSoine\Real Estate\Reservation\PUrcahse&Sale final corrected I I-14-OO.doc <br /> Seattle/11.15.00 <br />