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A. Change from Non-Water Dependent to Water Dependent Use. If <br /> after the date of dedication of the Public Access Shoreline Improvements, the Property use <br /> is changed from non-water dependent use to water dependent use, as "water dependent" is <br /> defined in Title 19 of the Everett Municipal Code or successor ordinance, then Grantor <br /> may, subject to Section 5.B below, terminate the shoreline portions of the Public Access <br /> Easement and the Easement Area therein to the extent reasonably necessary to <br /> accommodate the water dependent use, which termination will also cause the Public <br /> Access Shoreline Improvements within the terminated Easement Area to be deemed no <br /> longer dedicated to public use and become the property of Grantor, transferred to Grantor <br /> strictly "AS-IS" and "With all Faults". The Grantor and the Grantee will cooperate with <br /> each other to execute and record such documents as may be reasonably necessary to give <br /> record notice of any easement termination. Regardless of any termination of the Public <br /> Access Easement, this Covenant remains is full force and effect. <br /> B. Public Access Easement Termination Requirements. <br /> 1. Connector Trail. If removal of the Public Access Shoreline <br /> Improvements on the Property will cause a public shoreline trail on Lot 2 to dead-end, then <br /> Grantor and Grantee will confer the feasibility of constructing and dedicating for public <br /> use a connection trail through the Property, for the purpose of providing a direct <br /> connection from the public shoreline trail on Lot 2 to other public trails north of the <br /> Property, with all such improvements at Grantor's sole cost. Because of the variety of <br /> configurations that could occur, it is not possible to predict in advance the feasibility of <br /> such a connection trail. Accordingly, the parties agree that questions regarding such a <br /> connection trail will be determined in light of applicable law regarding public trails and <br /> shoreline management at the time such questions arise. <br /> 2. Later Change from Water Dependent to Non-Water <br /> Dependent Use. If after the date of Public Access Easement termination, the Property use <br /> is changed from water dependent use to non-water dependent use, as "water dependent" is <br /> defined in Title 19 of the Everett Municipal Code or successor ordinance, then Grantor <br /> shall re-construct the former Public Access Shoreline Improvements and re-dedicate them <br /> to the City for public use by an easement substantially in the form of the original Public <br /> Access Easement. The City may condition Property Non-Water Development Permits on <br /> such re-construction and re-dedication and may require delivery of a Performance Bond for <br /> such construction prior to issuance of Property Non-Water Development Permits. <br /> 6. Miscellaneous Provisions <br /> A. Binding Effect. The rights and obligations of the Grantor and the <br /> City and under this Covenant run with the land and inure to the benefit of the public and <br /> City and the City's successors, and are binding upon Grantor, its successors and assigns <br /> and each and every person who at any time has any ownership interest in the Property. <br /> Public Access Covenant and Agreement Page 5 <br />