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• • . <br /> Section 3: <br /> That this ordinance shall not become effective until the owners of the <br /> property abutting upon the street herein described shall compensate the <br /> City of Everett in the amount equal to one-half of the 1979 appraised <br /> value ($26,400) of the area herein described: <br /> Provided, however, should the abutting property owners fail to exercise <br /> this vacation within ninety (90) days following passage, unless otherwise <br /> extended by City Council, the ordinance shall be null and void. <br /> Section 4: <br /> That the City of Everett retain an easement to construct, operate, maintain, <br /> repair and replace all public utilities under, over and across the above <br /> described vacated street. <br /> The City of Everett further retains the right to grant to public and private <br /> utilities the right to construct, operate, maintain, repair and replace <br /> utility lines, including but not limited to telephone, gas and electrical, <br /> under, over and across the above described easement. <br /> Section 5: <br /> That all monies derived from the sale of the above described right-of- <br /> way vacation, shall be deposited in the "Real Property Acquisition Fund." <br /> Section 6: <br /> Upon payment of the required compensation and fulfillment of any other <br /> conditions recited herein, this ordinance shall be recorded with the Snohomish <br /> County Auditor. <br /> Section 7: <br /> That Ordinance No. 586-79 is hereby repealed. <br /> 4/1111S. 411Ib <br /> MAYOR <br /> ATTEST: <br /> • <br /> CITY CLERK �-e-e <br /> Passed: //-47- <br /> Valid: <br /> /-/m -Valid: //-/y f <br /> Published: //-/7-'6 <br /> -2- <br />