2016/03/09 Council Agenda Packet

1 force and effect upon the execution and delivery hereof. There are no terms, conditions, or agreements with respect thereto, except as herein provided, and no amendment or modification of this Option Agreement shall be effective unless reduced to writing and executed by the Parties. 23. Governing Law and Venue. This Option Agreement shall be governed by and construed in accordance with the laws of the State of Washington. The venue for any action to enforce or interpret this Option Agreement shall lie in the Superior Court of Washington for Snohomish County, Washington. 24. Authority to Bind Parties and Enter Into Option Agreement. The undersigned represent that they have full authority to enter into this Option Agreement on behalf of the legal entities set forth below. 25. Counterparts. This Option Agreement may be executed in one or more counterparts, each of which shall be deemed an original, but all of which shall constitute one and the same Option Agreement. 26. Funding Sources. Notwithstanding any provision of this Agreement, the parties hereto agree and acknowledge that this Agreement does not constitute a commitment of county, state, or federal funds or site approval, and that such commitment of funds or approval may occur only upon satisfactory completion of environmental review and receipt by Snohomish County of a release of funds from the U.S. Department of Housing and Urban Development under 24 CFR Part 58. The parties further agree that the provision of any funds to the project is conditioned on Snohomish County's determination to proceed with, modify or cancel the project based on the results of a subsequent environmental review. • CITY OF EVERE T T: By: Date: Name: Ray Stephanson Title: Mayor Attest: Sharon Fuller/City Clerk As to form: James D. Iles/City Attorney Everett Option Agreement Page 7 8