2017/02/15 Council Agenda Packet

5 AMENDMENT NO. 1 TO RIVERSIDE BUSINESS PARK PUBLIC ACCESS AGREEMENT THIS AMENDMENT NO. 1 TO RIVERSIDE BUSINESS PARK PUBLIC ACCESS AGREEMENT (this "Amendment") is dated for reference purposes , 2016, and is entered into by and between the PORT OF EVERETT, a port district organized under the laws of the State of Washington (the "Port"), and the CITY OF EVERETT,a Washington municipal corporation(the"City"). RECITALS A. The City and Port are parties to the Riverside Business Park Public Access Agreement dated , 2016 (the"Agreement"), concerning public access improvements at Riverside Business Park. All capitalized terms in this Amendment are as defined in the Agreement. B. In connection with the Agreement, the parties recorded Lot Easements against Lot 2 and Lot 3 under Snohomish County recording numbers 201601140208 and 201601140209, which created a 16 foot wide easement area within the 50-foot buffer along the Snohomish River. For the purposes of this Amendment,the combined easement areas of the Lot 2 and Lot 3 Lot Easements are referred to as the"Combined Easement Area." C. The Port has recorded a boundary line adjustment under Snohomish County recording number (the "2016 BLA"), which, among other things, removed the 50-foot shoreline buffer from Lot 2 and Lot 3 and created a new Parcel D. The Combined Easement Area is within this new Parcel D. D. The Port and City have agreed that the Port will construct public access shoreline improvements within the Combined Easement Area. In connection with this, the City will terminate the Lot Covenants for Lot 2 and Lot 3. E. Accordingly, the purpose of this Agreement is to formalize the City and Port's agreements regarding Lot 2,Lot 3, and Parcel D. AGREEMENT FOR GOOD AND VALUABLE CONSIDERATION, the receipt and sufficiency of which are hereby acknowledged,the parties agree as follows: 1. Definitions In addition to terms defined elsewhere in the Agreement,the following terms are defined for this Amendment as follows: 1 8