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1 <br /> • . <br /> Section 3: That this ordinance shall not become effective until the <br /> owners of the property abutting upon the alley herein described shall compensate <br /> the City of Everett in an amount equal to one-half the current appraised value <br /> of the area herein described. The abutting property owners shall have ninety <br /> (90) days following passage of this ordinance to exercise this vacation. Unless <br /> otherwise amended by City Council, this ordinance shall be null and void if the <br /> abutting property owners fail to exercise this vacation within one hundred eighty <br /> (180) days following passage of this ordinance. <br /> Section 4: 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 5: Upon the payment of the required compensation and fulfillment <br /> of each and every condition recited herein, this ordinance shall be recorded with <br /> the Snohomish County Auditor. <br /> 4e <br /> MAYO <br /> ATTEST: <br /> --! <br /> Com` -f-''✓?_:-6 1 1 /G,Z-,.;C)--41-e-- <br /> CITY CLERK <br /> Passed: 1 7—g.2-- <br /> Valid: •Y—'' - F �- <br /> Published: 4i-1•3-----1 <br /> -2- <br />