|
or under such land, development rights, land use entitlements, air rights, waterrights, and any interests in, on, o. ;;;; iil" tuno, together witli any and a1improvements, structures, or fixtures now or on the closing Date locatedthereon' said property is.located in irt" cji,v of Ellensburg, county of Kittitas,tlii::l w:'11$." i"9 "gl,:'."' ;il;;;'"
<br />'"ty 6.Tlacres and is rurrhershown on Exhibit A as the .,u"t.nu.iu."."i.,,
<br />B' conveyance Documents' The cwu Property shall be conveyed by quit claimdeed. rhe counrv nu'ding "rJ;;dil'srii-s i;i;::J"*yed by a b'l orsare.
<br />c' Exchange properties. th: I*"L*r_" properties are shown on and regary
<br />+H:'ff:#;xl#,,"'il:xhibits e, a,
<br />""0 D. rh"?;;r,ffi'n.operties and the rransreror and
<br />Property Description
<br />City Building (ApN 9s5272)
<br />Corrnty Building (ApN 955h7)
<br />CWU Property (ApN 374034)
<br />Transferor
<br />City
<br />County
<br />CWU
<br />Transferee
<br />County
<br />CWU
<br />City
<br />D' consideration' Each
<br />".lll-:.l""tes hereby confirms that it has reviewed andapproved' or has had sufficient opportunity to review und upp.oue, as of the Effective Datehereof' an appraisal of fair -utt"'t'uurue relating to trr" grrirange properti". to L. conveyed by orto such parry as des*ibed herein r."rr.i1"..r.v, ;.h;."i;*y Appraisars,). The parties furrheragree that the value ojthg Exchange Pioperties hau" u..n n"gotiated and that the mutuar benefitto each Party is based.on both tang"ibte ano intangibi" factors, including without limitation, theappraised property values, the ecoiomic develop"menl p"t."rirr ortrre t-ransreii"o prop..ty, undthe public benefit of increased nourinfuuu'abirity and density.
<br />section 2' conditions Precedent; Termination; Good Faith Efforts. The obligation ofeach Party to convey its respectiv. e"rnung" Property as contemplated by this Agreement issubject to satisfaction of each orth. t".m, anc condition, ,"irynl ,, s"riion :, Jection 6, andsection 7 (anv of which may be;"il;onJy il.writi"g
<br />""0 ""ry by the parry in whose favorsuch condition exists) on ot b"fo."irt" uppri.ugf a"io.Jn.o r"; rurira"iion'#,r.,. applicabrecondition' If any of such conditions u..1rot fulfiiled 1or'* *uiued in writing) pursuant to thefffiH:*:s Agreement' then the eartv in *rro*ruuJr r""rr"""aition exists may terminate this
<br />In the event the closing of this transaction shall not have occurred by Jury 3r,2026,thenany Party may terminate this '{gt."n'rni. If any ".p;;J;;^u.tuut funding for any transactioncontemplated herein is withdrarin, reduced, or iimii"O in unv *uV prior to t_he termination of thisAgreement or crosing of this r."^""1J"", ffi;;';",.r',lii,..,ninate this Agreemenr.
<br />In connection with any termination made in accordance with this Agreement, the otherParties shall be released rtom"rurthei oCilgution
<br />". ri"biri;;1;eunder to suJh terminating party
<br />Property Exchange Agreement _ 3
|