00578.l
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N COVENANT
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WHEREAS, SIERRA WEST CONSTRUCTION CO., INC., hereafter"'
referred to as "Owner" is owner of certain real property
located in Edmonds, Snohommish County, Washington, and>
legally described on Exhibit "A", attached hereto and incorp or-
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ated herein as if set forth in full, and hereafter referred.
to as "subject property", and {
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WHEREAS, the City of Edmonds, Washington, hereafter
referred to as "City", has approved a Planned Residential
Development for the owner's property subject to the conditions
and covenants set forth herein which will insure that the
P.R.D. is in the best interst of•the public health, safety
and general welfare and will meet the criteria established
for approval of P.R.D's., now, therefore,
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THE PARTIES AGREE AS FOLLOWS:
1: Owner (and/or its successors in interest) agrees
to pay its pro rata share of the costs of any improvement
project for the construction and related costs of storm
and/or sanitary sewers involving assessments levied against
all or any portion of the subject property for all or any
portion of the cost of the improvement project, including
LIDs and ULID; Provided, however,. that owner (and/or its successors)
shall be allowed to deduct the costs of any payments made'to
the City of Lynnwood, Washington, which are in lieu of
assessments on the subject property as a pre condition to
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