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WHEREAS, the parties desire to enter into this fee in lieu agreement so that SEATAC <br />may apply the Mitigation Payment to SEA'FAC's Military Road South and South 152nd Street <br />Capital Improvement Project that meets or exceeds the mitigation goals required of the Proposed <br />Development, <br />NOW, 'ffIEREFOR.E, in consideration of the mutual covenants of the parties contained <br />herein, the parties agree as follows: <br />PAYMENT IN LIEU OF MITIGATION <br />Pursuant to RCW 82.02.020 as a voluntary agreement. '111KWILA hereby agrees <br />and covenants to make a one-time Mitigation Payment to SEATAC, in the sum of <br />'Iwo 11undred Thirty -Eight Thousand Five Hundred Filly-'1hree and zero cents <br />($238,553), in consideration of SEATAC agreeing that acceptance of the above - <br />referenced Mitigation Payment is in lieu of 'TUKWILA constructing frontage <br />improvements along Military Road South. adjacent to TUKWILA's Abutting <br />Property, as a condition of the Proposed Development. <br />1.2. 'File Mitigation Payment shall be remitted no later than thirty (30) calendar days <br />after the date of execution of this Agreement. <br />2. FUTURE IMPROVEMENTS ALONG MILITARY ROAD SOUTH <br />2.1. STATAC and TUKWILA agree that the Mitigation Payment identified in this <br />Agreement mitigates direct impacts of the Proposed Development. and that any <br />frontage improvements later constructed in Military Road South, adjacent to <br />TUKWILA's property, Will not be borne by TtlK WILA. <br />3. USE OF MITIGATION PAYMENT BY THE, cm/ <br />3.1. TUKWILA and SEATAC agree that the payment identified in Paragraph 1 above <br />may he .used by SEATAC for improvements on SEATAC's Military Road South <br />and South 152nd Street Capital hriprovement Project, and that such improvements <br />will mitigate direct impacts that have been .identilled as a consequence of the <br />Proposed Development. <br />4. AGREEMENT APPURTENANT AND BINDING ON SUCCESSORS <br />4.1. This Agreement and the covenants, conditions, and terms hereof shall be <br />appurtenant to, and shall run with, the real property described in this Agreement, <br />and shall be binding on the heirs, assigns, and successors in interest of It KWILA. <br />SeaTac/Tukwila Fee in <br />Lieu Agreement September, 2019) <br />Page 2 <br />