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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 an amount equal to one-half the current appraised <br /> value of the area herein described: <br /> Provide, however, should the abutting property owners fail to exercise <br /> this vacation within 90 days following passage, unless otherwise extended <br /> by City Council, the ordinance shall be null and void. <br /> Section 4: <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 5: <br /> Upon fulfillment of all conditions recited herein, this ordinance shall be <br /> recorded with the Snohomish County Auditor. <br /> CITY OF EVERETT <br /> /4 - ' <br /> AYOR <br /> ATTEST: <br /> r / J <br /> ITY CLERK <br /> Passed: ( c <br /> Valid (p =' <br /> Published: & <br /> -2- <br />