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VOLUNTARY PAYh1L'NT AGREEh1ENT <br /> THIS AGREEMENT mnde nnd entered into this 30th dny o( <br /> December , 1986 , by nnd between the City of Everett, n municipnl <br /> corporat[on under the laws of the State ot �Ynshington, hereinafter retr,rred to as <br /> "City," and Housing Authority of the City of Everett wliose address is <br /> 1401 Poplar, Everett, WA. 98201 , <br /> hereinnfter referred to as "Developer". <br /> LY 17'N GSS E1'f l: <br /> WIIERGAS, Developer is proposing a development, subdivision or plat, <br /> hereina[ter referred to ns "Project," in the City whicli is described ns follows <br /> (description ot ProJect and location): Adult Residential Rehabilitation <br /> Center - 2731 lOth Street, Everett, WA. 98201 <br /> ; and <br />� WIIERGAS, RC�V 82.02.020 nuthorizes lhe City lo enter into n vol�mtary <br /> agreement with the Developer for the acceptmice of pnyment in lieu of dedicalion <br /> of Innd or to mitigate a direct itnpnet thnt has becn identi[ied as n cansequencc of <br /> Developer's Project; and <br /> WIIGIZEAS, Developer desires to enter into such a volui�tnry ngrecment nnd <br /> submits thnt such an ogreement is reasonubly necessnry ❑s a direct result o[ tl�e <br /> Pro ject. <br /> NUW, TfiEREFORE, in consideration ot the terms, conditions, covennnls <br /> nnd pertormnnces contained herein, Developer ngrees us [ollows: <br /> 1. lleveloper acknowledges und ogrces thnt lhere is n direct impnct ns u <br /> result of Developer's Project and that this Agreement is necessary us n result of <br /> that impact. <br /> � 2. Developer neknowledges and agrees that in order to mitignte the <br /> direct impact that hns been identified ns a conscyuence o[ the Projeet the <br /> Developer has ottered to pny the City the following amount ot moncy: Two <br /> Thousand Two llundred Fifty and no/100----------------------------- Dollars <br /> (S 2,250.00 ). <br /> 3. Developec acknowledges nnd ngrees lhnt the rnonies described in <br /> Pnragrnph 2 are authorized to be used for enpilal improvemenls to the following <br /> identified [ncillty(ies): Adult Residential Rehabilitation Center <br /> 4. Developer ngrees tiiat pnyment oC the monics descriUed in <br /> Paragraph 2 will be mnde at the lime of exccution of this Agreement by the <br /> Developer. Developer further agrees tliat if Developer fails to make payment in <br /> full as described herein, Developer will not be issucd permits or allowed to <br /> commence nny development including grnding on site. <br /> 5. Developer agrees thut the City hus [ive (S) years [rom tiie dnte of <br /> execution ot this Agreement to spend lhe monies described in Parngraph 2 [or the <br /> copital improvn_ments described in Pnrogrnph 3. In the event the monies described <br /> in Paragroph 2 are not expended within five yenrs from the dntc of execution o( <br /> this Agrcement, the inonies will be refunded with interest ut lhe rute npplied to <br /> Judgments to the Ueveloper ut the nddress described hercin al lhe lime of refund; <br /> howevcr, i[ the payment is not expended wil�iin five ycars due to dclny which is <br /> `,iz��f;;�.�'5�.�� .f, c� �-��� r•oi�nta-sa <br /> ,i ��-.�,g_�Q i <br />