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2010/08/04 Council Agenda Packet
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2010/08/04 Council Agenda Packet
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Council Agenda Packet
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8/4/2010
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DRAFT DRAFT <br /> The parties acknowledge that the Project Review Period ends on November 16, 2010. On <br /> or before that date, the parties will use best efforts to complete the Project Design Criteria in <br /> accordance with Section 4.d of the Agreement. Upon such agreement, the parties shall enter into <br /> an amendment to this Agreement that specifically sets forth all Project Design Criteria. <br /> 9. Ratification. No other modification of the Agreement is made or intended to be <br /> made hereby and the parties ratify, confirm, and reaffirm that the Agreement, as amended <br /> hereby, remains in full force and effect. The Recitals and exhibits attached hereto are a material <br /> part of this Amendment and incorporated herein as if fully set forth. <br /> 10. Injunction Release. If a person not a party to the Agreement seeks and is <br /> granted an injunction or other order from a court of competent jurisdiction that directs Seller to <br /> not close the sale of the Property, then any failure to close the sale of the Property because of <br /> such an order is not a default or other breach under the Agreement and causes no liability to <br /> either party to the Agreement; provided, however, that Seller shall be required to perform its <br /> obligations under the Agreement if and to the extent such injunction or order is released. <br /> 11. Boundary Line Adjustment. The parties acknowledge that the foundation wall of <br /> a previously existing building at the south boundary line of the Property encroaches onto the <br /> Property. Accordingly, the City shall take the necessary actions to adjust the boundary line of <br /> the Property to exclude any portion of this wall from the Property; provided, however, any such <br /> boundary line adjustment shall be subject to Purchaser's prior review and approval before the <br /> boundary line adjustment is finalized. During the construction of the Project, Purchaser shall <br /> leave the wall in place. The parties shall revise legal description of the Property in the <br /> Agreement and in the instruments to be delivered at Closing in accordance with the boundary <br /> line adjustment. <br /> 12. Power Vault. The City and Developer acknowledge that the underground power <br /> vault located at the northeast corner of the Property must be moved. Prior to Closing, the City <br /> shall construct at its cost a new power vault at location not on the Property. Developer <br /> acknowledges that it may be necessary for Snohomish County Public Utility District No. 1 after <br /> Closing to complete the work necessary to reroute power to the new power vault. <br /> [Signatures on the following page.] <br /> 7 <br /> DRAFT DRAFT <br />
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