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F�CIiIBIT H I <br /> DECLARATION OF COVENANTS <br /> THIS DECLARATION this _�_ day of <br /> 1�"' " ` . 1989, by EMORY COLE ANA MOLLY <br /> COLE (the "Declarant") . <br /> WITNESSET'I-I: <br /> WHEREAS, Declarant is owner and the Shoreline Substantial / <br /> Development Permit ( "SDP") holder that pertains to development <br /> of certain real property located in the City of Everett, <br /> Washinyton, and legally described on Exhibit A, attached <br /> hereto and incorporated herein by this reference (the <br /> "Property" ) ; and <br /> WHEREAS, the City of Everett (the "City") has issued a <br /> Shoreline Substantial Development Permit under SMA #5-67 <br /> and a Revision of Permit SMA #5-87, subject to conditions <br /> (the "Project Approval ") , for the construction of a <br /> restaurant and office building on the Property, together <br /> with parking spaces, landscaping, recreational facilities <br /> and other related appurtenances (the "Project") ; and . <br /> WHEREAS, Declarant has agreed at the request of the <br /> request of the Silver Lake Action Committee, a Washington <br /> non-profit corporation ( "SLAC") to provide a covenant <br /> or other security device to insure continuous maintenance of <br /> the storm drainage system for the Project (the "Storm <br /> - 1 - <br />