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Section 3: That this ordinance shall not become effective until the <br /> owners of the property abutting upon the street herein described have <br /> compensated the City of Everett in an amount equal to one-half the current <br /> appraised value of the area herein described. The abutting property owners <br /> shall have ninety (90) days following passage of this ordinance to exercise <br /> this vacation. Unless otherwise amended by City Council, this ordinance shall <br /> be null and void if the abutting property owner(s) fail to exercise this <br /> vacation within ninety (90) days following passage of this ordinance. <br /> Section 4: That all monies from the sale of the above described <br /> right-of-way vacation shall be deposited in the "Real Property Acquisition <br /> Fund" (FUND 145). <br /> Section 5: Upon the payment of the required compensation and <br /> fulfillment of each and every condition recited herein, this ordinance shall <br /> be recorded with the Snohomish County Auditor. <br /> Olt/teel <br /> 44.66=41WE, Mayor rFF2 o r F_m <br /> ATTR, : <br /> AM: / tom . ! .Ittor <br /> City Clerk <br /> Passed: f ( <br /> Valid: l( — /.4) <br /> Published: _ /4 kJ, <br /> 1353B <br />