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7 <br /> DEVELOPMENT AGREEMENT <br /> Rockefeller Ave L.L.C. Rezone <br /> THIS AGREEMENT is entered into this day of 2006, by and <br /> between Rockefeller Ave L.L.C., 3425 Norton Avenue, Everett, WA 98201 (hereafter termed, <br /> "RAL"), and the City of Everett, a municipal corporation under the laws of the State of <br /> Washington (hereinafter the "City"). <br /> RECITALS <br /> A. RAL owns approximately .83 acres of real property on the east side of Rockefeller <br /> Avenue between 26`h Street and Everett Avenue (hereafter the"Property"),zoned R-4 (Multiple <br /> Family), as depicted in Exhibit"A," and lying within the incorporated boundaries of the City. <br /> The Property is occupied by a 12 single family homes that have been divided into 21 dwelling <br /> units. RAL desires to re-zone the Property to R-5 (Multiple Family) in order to take advantage of <br /> economic benefit that would allow him to provided underground parking and increased unit <br /> density at the site. The City agrees the community would benefit from such an action in this <br /> location, provided certain conditions are met. <br /> B. This Agreement sets forth a design appearance standard for a new muti family <br /> structure proposed for the site. (attached as Exhibits "B" and "C"). <br /> C. This Agreement is entered into pursuant to RCW 36.70B.170, .180, and .190. The <br /> purpose of this Agreement is to ensure the new multi family structure proposed for the site will in <br /> fact be constructed according to images attached to this agreement (Exhibits "B" and"C"). <br /> 36 <br />