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<br /> <br />Property Exchange Agreement - 1 <br /> <br />PROPERTY EXCHANGE AGREEMENT <br /> <br />THIS PROPERTY EXCHANGE AGREEMENT (“Agreement”) is between the City of <br />Ellensburg, a municipal corporation of the State of Washington (the “City”), Kittitas County, a <br />municipal corporation of the State of Washington (the “County”), and Central Washington <br />University, a regional, comprehensive public university of the State of Washington (“CWU”). <br />The City, the County, and CWU may be referred to individually as a “Party” and collectively as <br />the “Parties.” <br /> <br />RECITALS <br /> <br /> A. The Interlocal Cooperation Act, Ch. 39.34 RCW, allows public agencies to make <br />the most efficient use of their powers by enabling them to cooperate with each other on the basis <br />of mutual advantage to provide services and facilities that will best fit the needs of each <br />community; <br /> <br />B. This Agreement is entered into pursuant to RCW 39.33.010, which allows public <br />agencies to “sell, transfer, exchange, lease or otherwise dispose of any property, real or personal, <br />or property rights, including but not limited to the title to real property, to the state or any <br />municipality or any political subdivision thereof . . . on such terms and conditions as may be <br />mutually agreed upon by the proper authorities of the state and/or the subdivisions concerned.” <br /> <br />C. The City, the County, and CWU previously entered into an interlocal cooperation <br />agreement (the “ILA”) dated September 16, 2024, setting forth the general purposes and <br />responsibilities of the Parties relative to the property being exchanged. This Property Exchange <br />Agreement is intended to establish the details for performance and completion of the exchange of <br />property contemplated in the ILA. <br /> <br />D. Each of the Parties owns property in Kittitas County, Washington. Attached <br />hereto as Exhibit “A” are maps generally depicting the Parties’ current properties that are subject <br />to the terms of this Agreement. <br /> <br /> E. The Parties have determined that, by exchanging certain of their respective <br />property interests, subject to the terms and conditions of this Agreement, their mutual objectives <br />will be furthered and enhanced. The properties owned by each Party at the time of this <br />Agreement (the “City Building,” the “County Building,” and the “CWU Property”) and subject <br />to this Agreement are legally described in Exhibit “B,” Exhibit “C,” and Exhibit “D,” attached <br />hereto (collectively, the “Exchange Exhibits”). The properties to be exchanged may also be <br />referred to individually as an “Exchange Property” and shall collectively be referred to as the <br />“Exchange Properties.” <br /> <br /> F. The conveyance of the Exchange Properties is in the best interests of each Party, <br />as more fully set forth in the ILA. The Parties have agreed in the ILA, and hereby reaffirm their <br />agreement, that the value of each of the Exchange Properties has been negotiated to include