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KING COUNTY FLOOD HAZARD REDUCTION PROGRAM <br />TUKWILA 205 PROJECT <br />WELLS FARGO PARCEL <br />10 -074 <br />Council Approval N/A <br />0 8 O Li 2— <br />REAL ESTATE PURCHASE AND SALE AGREEMENT <br />EASEMENT <br />This Agreement is made as of the date this instrument is fully executed by and among WELLS <br />FARGO BANK, N.A., a national banking association "Seller THE CITY OF TUKWILA, a <br />municipal corporation of the State of Washington "City and KING COUNTY FLOOD <br />CONTROL ZONE DISTRICT, a quasi municipal corporation of the State of Washington <br />"District ")(sometimes the City and the District are collectively referred to herein as "Buyer <br />for purchase and sale of that certain easement situated in King County, Washington, described on <br />Attachment "A and all rights appurtenant thereto (the "Easement <br />RECITALS: <br />1. The City and the Green River Flood Control Zone District "GRFCZD a predecessor <br />of the District, entered into an Interlocal Cooperation Agreement "ILA to provide for <br />maintenance of the United States Army Corps of Engineers Lower Green River Section <br />205 Flood Protection Project "Tukwila 205 Project Said Agreement was ratified by <br />the Board of Supervisors of the GRFCZD under Resolution No. GR1994 -1, on February <br />7, 1994 and by the City on February 7, 1994 As successor in interest to the GRFCZD, <br />the District has certain operation and maintenance responsibilities under the terms of the <br />ILA for the Tukwila 205 Project. <br />2. Seller, through that certain Possession and Use Agreement "PUA between Seller and <br />the City, agreed to provide a bank protection easement to the City and the District. A <br />forn of the proposed easement was attached to the PUA as Exhibit 1.. <br />3. The City in conjunction with the District agreed to pay the appraised value of the <br />easement rights being granted. <br />4. The City contracted with Andrew T. Robinson, MAI, to appraise the Easement, has <br />reviewed the appraisal and agrees with the conclusions of the appraiser. The District <br />concurs with the City as to this determination of value. <br />NOW THEREFORE, the Seller, City and District agree as follows: <br />Wells Fargo /Tukwila/King County Final 1 6/29/2010 <br />FICOPY <br />1. PURCHASE PRICE: The total purchase price for the Easement is One Million Forty <br />Thousand and No /100 Dollars (US 1,040,000.00) "Purchase Price The Purchase Price is <br />payable by the District at closing in cash <br />0 �v <br />