Hold PHearing_Purchase of Real Property

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TPL's right to purchase the Subject Property, Flying M's obligation to convey the Subject Property to TPL, and TPL's obligation to convey the Subject Property to the County, are all expressly contingent on (i) the County and Flying M executing this Agreement; and (ii) the satisfaction of all contingencies and conditions precedent set forth in both the TPL Option Agreement with Flying M and the TPL-County Agreement, which contingencies include, but are not limited to, the execution of a lease or rental agreement between the County and Flying M covering an existing residential structure located on a portion of the Subject Property known as the 1030 Stone Road, and the County's issuance of seven (7) water mitigation certificates to Flying M as a part of the Purchase Price for the Subject Property AGREEMENT NOW, THEREFORE, in consideration of TEN and NO/100 DOLLARS, and the mutual covenants of the Parties set forth in this Agreement, and other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the Parties, intending to be legally bound, agree as follows: 1. Incorporation of Recitals. The Recitals set forth are hereby expressly incorporated into this Agreement. 2_ Purpose. The purpose of this Agreement is to memorialize the post -closing rights and obligations assumed by the County and Flying M with regard to actions to be taken and improvements to be made to or for the benefit of the Flying M Adjacent Property by the County following the County's acquisition of the Subject Property from TPL. 3. No Third Party Beneficiaries. This Agreement is' intended for the benefit of Flying M, Moeur and Kelly and the County and their respective heirs, assign and successors in interest only, and does not confer any rights on the general public or any third parties, nor is it enforceable against the Parties by the general public or any third parties. 4. Post -Closing Action or Improvement No 1: Flood Mitigation Berm for Existing Residential Structure on Assessor's Parcel # 702036 of Flying M Adjoining Property. The County's acquisition and intended future uses of the Subject Property may create an increased risk of damage by flooding to the residential structure currently located on Assessor's Parcel No. 702036 of Flying M Adjacent Property. The County will mitigate for this increased risk caused by anticipated additional flood rise on Assessor's Parcel #702036 by constructing a Flood Mitigation Berm on Assessor's Parcel No. 702036 in the location depicted on attached Exhibit C (the "Flood Mitigation Berm"). The Flood Mitigation Berm shall be designed and constructed according to the following specifications and terms: (a) Size of Berm; The County will utilize the results of the most recent Yakima River avulsion study (Watershed Science and Engineering's "Hansen Pits Channel Mitigation and Avulsion Risk Assessment") to determine the degree of mitigation OA