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Exhibit 1 <br /> I <br /> DEVELOPMENT AGREEMENT <br /> THIS AGREEMENT is entered into this /0 day of a-rZhriA r 20 t I , by <br /> and between Earth Holdings, LLC, Thomas Subitch, Lanswell DevelopnY Jit, Marlene and Harlin <br /> Lindstrand (hereinafter"the owners"), and the City of Everett, a municipal corporation under the <br /> laws of the State of Washington (hereinafter the "City"). <br /> RECITALS <br /> A. The owners own approximately 7.6 acres of real property, the legal description of <br /> which is contained in Exhibit A, located on the east side of Airport Road, south of 112th Street, <br /> immediately west of Walmart (west of Evergreen Way and east of Airport Road) (hereafter the <br /> "Property") zoned M-M (Business Park) as depicted in Exhibit"B" and lying within the <br /> incorporated boundaries of the City. The subject property is vacant WITH THE EXCEPTION OF <br /> A TRIPLEX ON THE Lindstrand property, and is encumbered by a Category Il Wetland and a <br /> Type NP stream and their associated buffers. The owners desire to rezone the Property to C-2 <br /> in order to allow for redevelopment in accordance with the terms of this Development <br /> Agreement, The City agrees the community would benefit from such an action in this location, <br /> provided certain conditions are met. <br /> B. This Agreement sets development standards and conditions to be applied to the <br /> redevelopment of the property. <br /> C. This Agreement is entered into pursuant to RCW 36.70B.170, .180, and .190. <br /> The purpose of this Agreement is to provide that the redevelopment of the property occurs in an <br /> integrated and coordinated manner. <br /> D. The parties hereto agree, as conditioned by this Agreement, that the owners <br /> satisfy the criteria for approval of the rezone of the property from M-M to C-2 so long as the <br /> redevelopment of the property occurs in a manner consistent with the terms of this Agreement. <br /> E. The conditions of this Agreement shall apply to all of the properties within the <br /> rezone area. <br /> PART ONE—TERMS AND CONDITIONS OF DEVELOPMENT <br /> 1.1 The property shall be developed as an integrated development incorporating all <br /> parcels of land, including the C-1 zoned Lanswell parcel located southeast of the <br /> rezone site, in a business park, industrial park or commercial center developed as a <br /> single site development plan. The development may be phased through the binding <br /> site plan subdivision process. Individual parcels shall not be permitted to be <br /> 1 <br />