07-045 - King County Water District #125 - Water Facilities Foster Point (Interurban)

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modified and amended to be in accordance with this Agreement. Determining future service area boundaries between the City and the District will provide for maximum efficient use of existing and future facilities and orderly and efficient water system planning. 1.07 The purpose of this Agreement is to provide for the District's transfer and conveyance of all of its right, title and interest in the Water Main and the Water Facilities to the City in consideration of the City's payment to the District of certain monetary and other consideration and that the water service area boundary between the Parties be later modified and amended to provide for the transfer of the Interurban Area to the City's water service area. 1.08 The City and the District have the legal authority to cooperate with other municipalities on the basis of mutual advantage and efficient provision of municipal services pursuant to Chapter 39.34, the Interlocal Cooperation Act. NOW, THEREFORE, in consideration of the terms and conditions set forth herein, the Parties agree as follows: SECTION 2: AGREEMENT 2.01 Upon the Effective Date of this Agreement, the District shall transfer and convey all of its right, title and interest in the Water Main and the Water Facilities to the City without warranty, express or implied, "as is" and "where is provided the District shall assign to the City any warranties it may have relating to such facilities from third parties. 2.02 In consideration of the District's transfer of the Water Main and the Water Facilities to the City, City agrees to pay the District the amount of Two Hundred Forty Three Thousand Six Hundred and Forty One Dollars ($243, 641.00) within 30 days of the Effective Date of this Agreement. 2.03 Following the transfer and conveyance of the ownership of the Water Main and the Water Facilities by the District to the City, the Interurban Area shall remain and continue to be in the District's water service area where the customers located within that area shall continue to be the District's water service customers. The maintenance responsibility of the service lines and meters will remain with the District throughout the duration that the District continues to bill said customers. The City shall be responsible for maintenance of the mains, valves, hydrants and appurtenances. The District shall have the right to continue to bill such customers for water service provided based on the meter readings for water service supplied from the Water Facilities to such customers; provided that the Parties agree to cooperate to obtain all approvals necessary from the City of Seattle, CWA and any other governmental agencies or associations (collectively "Agency" or "Agencies with jurisdiction relating to such customers and service area to transfer such area and customers to the City. 2/14/20079:34.10 AM 350037.0113588291002717S3901 !.DOC -2-