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CITY <br /> 2017 AMENDED AGREEMENT <br /> BETWEEN <br /> PUBLIC UTILITY DISTRICT NO. 1 OF SNOHOMISH COUNTY <br /> AND <br /> THE CITY OF EVERETT <br /> THIS 2017 AMENDED AGREEMENT is made and entered into this 6th day of <br /> December , 2017, by and between the PUBLIC UTILITY DISTRICT NO. 1 OF <br /> SNOHOMISH COUNTY ("District") and the CITY OF EVERETT, a Washington municipal <br /> corporation ("City"), referred to together as "the Parties." <br /> WHEREAS, City and District previously entered into an Agreement for multipurpose <br /> development of the Sultan River dated July 21, 1960 (the "1960 Agreement"); an Amended <br /> Agreement dated November 17, 1981 (the "1981 Amended Agreement"); a Supplemental <br /> Agreement dated October 17, 2007 (the"2007 Supplemental Agreement"); a Second <br /> Supplemental Agreement dated March 21, 2008 (the 2008 Second Supplemental Agreement"); a <br /> Third Supplemental Agreement dated October 9, 2009; and the First Amendment to Third <br /> Supplemental Agreement dated February 21, 2012 (the "2009 Third Supplemental Agreement, as <br /> amended"). Those agreements are referred to together as "the Prior Agreements"and they <br /> concerned the Henry M. Jackson Hydroelectric Project("the Project"), formerly known as the <br /> Sultan River Project; and <br /> WHEREAS,the Prior Agreements addressed the sharing of costs of original construction <br /> of the Project, among other terms, but were less clear regarding the allocation of ongoing costs <br /> after completion of the original construction, resulting in the Parties' dispute over the allocation <br /> of such ongoing costs; and <br /> WHEREAS, the Parties have reached agreement on the allocation of ongoing costs of the <br /> Project, and intend that the provisions of this 2017 Amended Agreement serve as a supplement <br /> to the provisions of Article VI (Payment) in the 1981 Amended Agreement. <br /> NOW, THEREFORE, it is agreed between the Parties as follows: <br /> I. Purpose <br /> The purpose of this 2017 Amended Agreement is to resolve the current dispute between <br /> the Parties concerning allocation of Project costs,to amend the Prior Agreements to <br /> allocate costs going forward, and to provide mechanisms to resolve disputed issues in the <br /> future. The Prior Agreements remain fully in force except as explicitly supplemented, <br /> amended, or stricken by this 2017 Amended Agreement. <br /> 2017 Amended Agreement(Henry M.Jackson Hydroelectric Project) Page 1 <br />