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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 shall <br /> have ninety (90) days following passage of this ordinance to exercise this vacation. <br /> Unless otherwise amended by City Council, this ordinance shall be null and void if <br /> the abutting property owners fail to exercise this vacation within ninety (90) days <br /> following passage of this ordinance. <br /> Section 4: The City of Everett retains the right to grant to public and <br /> private utilities the right to construct, reconstruct, operate, maintain, repair and <br /> replace existing or proposed utility lines including, but not limited to, telephone, <br /> gas and electrical, under, over and across the following described property: <br /> The Northern 30 feet of Maryland Drive, as described in Section 1. <br /> Section 5: That all monies derived from the sale of the above-described <br /> right-of-way vacation shall be deposited in the "Real Property Acquisition Fund." <br /> Section 6: Upon the payment of the required compensation and <br /> fulfillment of each and every condition recited herein, this ordinance shall be <br /> recorded with the Snohomish County Auditor. <br /> . —Oar <br /> WILLIAM E. MOORE, Mayor <br /> ATTEST: <br /> I / /Aim <br /> CITY CLERK <br /> Passed: w ---.. ?1, -,747/ <br /> Valid: 6 - �• 'c7/ <br /> Published: <br />