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a <br /> I <br /> i <br /> i, <br /> i <br /> (hereinafter referred to as "Property") <br /> NOW, THEREFORE, in consideration of the foregoing and the mutual covenants, <br /> conditions, and promises contained in this Agreement, and for other good and valuable j <br /> consideration,the receipt and sufficiency of which are hereby acknowledged, Seller and Purchaser <br /> agree as follows: <br /> AGREEMENT <br /> 1. Conveyance of the Property. Seller agrees to sell, and the Purchaser agrees to purchase the <br /> Property as provided herein. The property shall be conveyed by quit claim deed. j <br /> i <br /> 1 <br /> 2. Purchase Price: Seller agrees to sell, and Purchaser agrees to purchase the Property for four- <br /> hundred and sixty thousand dollars ($460,000), payable at the Time of Closing to be paid in <br /> Rill by Purchaser. The parties hereby confirm that they have reviewed and approved, or had 1 <br /> sufficient opportunity to review and approve, an appraisal of fair market value relating to the a <br /> Property. The Parties further agree that the value of the Property was negotiated. <br /> i <br /> 3. Earnest Money.No earnest money is required or will be paid by either Party. <br /> 4. Contingencies. Seller's obligation to sell the Property is subject to the following conditions, <br /> each of which shall be performed or satisfied by Seller and/or Purchaser:in good faith and with <br /> reasonable diligence: <br /> a) Resolution Declaring PMer!y,Sur lus,The Kittitas County Board of Commissioners shall <br /> have adopted a resolution declaring that the Property is surplus to the foreseeable needs of <br /> the County. <br /> b) Public Hearing,and Notice. Seller shall have provided public notice and conducted a public <br /> hearing in accordance with RCW 39.33.020. a <br /> c Resolutions Rat i in Agreement. The Kittitas County Board of Commissioners shall have <br /> ) — <br /> adopted a resolution ratifying this Agreement and authorizing conveyance of the Property <br /> to Purchaser. The Ellensburg City Council shall also have adopted a resolution ratifying <br /> this Agreement and authorizing conveyance of the Property from Seller. <br /> d) Title Report. Within a reasonable time prior to the Time of Closing, unless waived in <br /> writing by the City, the City shall obtain from a title company selected by the City in its <br /> sole discretion ("Title Company"), effective as of the date and time the Quit Claim Deed <br /> is recorded, a suitable ALTA Form extended coverage owner's title insurance policy for <br /> the Property ("Owner's Policy"), or equivalent form reasonably acceptable to the City <br /> dated as of the date and time the Quit Claim Deed is recorded,indicating title to be vested <br /> of record in the City and containing such endorsements as the Title Company has agreed <br /> to provide. <br /> Page 2 of 9 <br /> INITIALS: <br /> Purchaser: /Date: Seller: /Date: <br />