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• <br /> C. Grantor and Grantee have agreed that at the time of Property development, <br /> certain public access improvements will be built on the Property within the Easement Area <br /> at no cost to the City and dedicated to the City for public use. The purpose of this <br /> Covenant is to formalize that agreement, under the terms and conditions as set forth herein. <br /> D. This Covenant runs with the land. Grantor enters into this Covenant on <br /> behalf of itself and behalf of its successors-in-interest to the Property. <br /> E. Grantor and Grantee entered into the Public Access Covenant and <br /> Agreement dated December 28, 2015, and recorded under 201601140238 (the "Old <br /> Covenant"). For purposes of clarity,the parties have decided to replace and supersede <br /> entirely the Old Covenant with the amended and restated Covenant hereunder. <br /> AGREEMENT <br /> In consideration of the mutual promises set forth herein, and for other good and <br /> valuable consideration, the receipt and sufficiency of which are hereby acknowledged, <br /> Grantor and Grantee hereby covenant and agree as follows: <br /> 1. Definitions <br /> In addition to terms defined elsewhere in this Covenant, the following terms <br /> are defined for this Covenant as follows: <br /> A. "Property Development Permit" means any City-issued permit for <br /> development of the Property, including without limitation permits such as shoreline <br /> permits, building permits and grading permits. <br /> B. "First Property Development Permit" means the first Property <br /> Development Permit issued after the date of this Covenant. <br /> C. "South Exception Parcel" means Tract 11-4, as legally described in <br /> the boundary line adjustment and survey recorded under Snohomish County recording <br /> number 9802235001. <br /> D. "Lot 3" means Lot 3 as legally described in the boundary line <br /> adjustment and survey recorded under Snohomish County recording number <br /> 201207265001. <br /> E. "Lot 9" means Lot 9 as legally described in the boundary line <br /> adjustment and survey recorded under Snohomish County recording number <br /> 201207265001. <br /> F. "Access Tract B"means Access Tract B as legally described in the <br /> boundary line adjustment and survey recorded under Snohomish County recording number <br /> 201207265001. <br /> Public Access Covenant and Agreement Page 2 <br />