4945 OCEAN AVE 2018-01-02 MF Import

NOW, THEREFORE, in consideration of issuance of applicable City permit(s) pursuant to Ordinance No. 555-78 and subsequent amendments thereto and in lieu of certain public right-of-way improvements Owner consents to the formation of a local improvement district hereafter formed by the City or its successors or other property owners for the public improvement of: Seabreeze Way or a portion thereof including street improvements defined in C finance Nos. 555-78 and subsequent amendments to include: The installation of all public facilities required to improve the street and utilities to City design standards including grading, drainage, pavement. curb/gutter, sidewalk, street lights. traffic signals and other necessary appurtenances. Such street improvements shall not be limited to the half street abutting the property; for example, where no penuanent street improvement existed, the street improvement shall be extended beyond the centerline a sufficient distance (10 ft. minimum) to permit safe movement of traffic. This Covenant consenting to the formation of a local improvement district applies (and precludes legal protest) only to the formation of a local improvement district, Owner executing this document retains its, his/her or their rights under law to provide input on the proposed public improvements to be accomplished by such local improvement district including nature and type of improvenments as well as the prop^sed or final benefits and assessment therel or. Tne City shall deliver a signed release mf this Covenant to Owner after completion of public improvements as described hereinabove through the form:nion of a local improvement district and alter transmittal of the final assessment roll to the County of Snohomish pursuant to law. The City may not utilize this Covenant for the formation of more than one (1) local improvement district. The effective term of this covenant is ten (10) years, starting from the date the Owner signs the covenant. If a local improvement district is not formed within the ten year effective term, this covenant shall automatically become null and void. This Covenant consenting to the formation of a local improvement district shall be a covenant touching, concerning and running with the land and shall be binding on Owner's heirs, assigns or successors in interest. This Covenant shall be subject to any and all existing or herinafter enacted laws concerning a limitation on the final assessment for a local improvement district. Pa,e 2 AF200" 1�D� 00'