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AGREEMENT <br /> between <br /> Central Puget Sound Regional Transit Authority ("Sound Transit") <br /> and <br /> City of Everett ("Everett Transit") <br /> for <br /> Funding Assistance for Regional Fare Coordination System Project <br /> This AGREEMENT (hereinafter the "Agreement"), is made and entered into this <br /> First Day of March, 2006, by and between CENTRAL PUGET SOUND <br /> REGIONAL TRANSIT AUTHORITY (hereinafter "SOUND TRANSIT") and <br /> CITY OF EVERETT (hereinafter "Everett Transit"), each of which is hereinafter <br /> referred to individually as a "Party"or collectively as "Parties". <br /> 1. RECITALS <br /> A. SOUND TRANSIT is a duly organized regional transit authority existing <br /> under Chapters 81.104 and 81.112 RCW and has all powers necessary to <br /> implement a high capacity transportation ("HCT") system; and perform regional <br /> public transportation functions; and <br /> B. Pursuant to RCW 81.104.070 SOUND TRANSIT may implement <br /> necessary contracts, including joint development agreements, and interlocal <br /> government agreements for the planning, design, construction, and operation of <br /> high capacity transportation system facilities within SOUND TRANSIT's <br /> boundaries, including commuter rail, light rail and regional express bus services <br /> as set forth in Sound Move, the ten-year Regional Transit System plan approved <br /> by the voters; and <br /> C. EVERETT TRANSIT is a division of the Transportation Services <br /> Department of the City of Everett, existing under Chapter 35.92 RCW, and has all <br /> powers necessary for the performance of the work and obligations of this <br /> Agreement; and <br /> D. SOUND TRANSIT's Board approved Motion 2003-26 on April 24, 2003 <br /> 5 Fundng Assist Agmt ET ST March 06.doc <br /> 1 <br />