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Section 3: <br /> That this ordinance shall not become effective until the owners of the <br /> property abutting upon the street herein described have compensated the City <br /> of Everett in an amount equal to one-half the current appraised value of the <br /> area herein described. The abutting property owners shall have ninety (90) <br /> days following passage of this ordinance to exercise this vacation. Unless <br /> otherwise amended by City Council, this ordinance shall be null and void if <br /> the abutting property owner(s) fail to exercise this vacation within ninety <br /> (90) days following passage of this ordinance. <br /> Section 4: <br /> If any provision of this ordinance shall be declared unconstitutional or <br /> invalid by any court of competent jurisdiction, it shall be conclusively <br /> presumed that this ordinance would have been enacted without the provision <br /> so held unconstitutional or invalid and the remainder of this ordinance <br /> shall not be affected as a result of said part being held unconstitutional <br /> or invalid. <br /> Section 5: <br /> That all monies derived from the sale of the above-described right-of-way <br /> vacation shall be deposited in the "Real Property Acquisition Fund. " <br /> Section 6: <br /> Upon payment of the required compensation and fulfillment of each and every <br /> condition recited herein, this ordinance shall be recorded with the <br /> Snohomish County Auditor. <br /> 400/ i <br /> Af <br /> PETE KINCH, ayor <br /> ATTEST: <br /> klir , <br /> DONNA RIDER, City C -rk <br /> Passed: 03/ 11 /92 <br /> Valid: 03/12 /92 <br /> Published: 03/ 18/92 <br /> Effective: <br /> rp100.4 <br /> -2- <br />