1\111\1\\IUI ::~~;~1~~~~:;,:~ Whatcom County. WA Request of: FERNDALE CITY OF

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2 1\111\1\\IUI ::~~;~1~~~~:;,:~ Whatcom County. WA Request of: FERNDALE CITY OF Upon recording, please return to: City of Ferndale P 0 Box 936 Ferndale, Washington DOCUMENT TITLE: FERNDALE STATION STORMWATER AGREEMENT REFERENCE NUMBER OF RELATED DOCUMENT GRANTOR: GRANTEES: CITY OF FERNDALE, A WASHINGTON MUNICIPAL CORPORATION KT FERNDALE STATION, LLC, A WASHINGTON LIMITED LIABILITY COMPANY ABBREVIATED LEGAL DESCRIPTION: A ptn of SW% NE% S 29, T39 N, R 2 E, W.M. ASSESSOR'S TAX PARCEL NUMBERS: ; NUMBER OF PAGES INCLUDING THIS COVER SHEET: 6

3 AFTER RECORDING RETURN TO: CHESTER T. LACKEY 900 DUPONT STREET BELLINGHAM, W A Document Title: Ferndale Station Storrnwater Agreement Grantor: City offerndale, a Washington municipal corporation Grantee: Legal Description: KT Ferndale Station LLC, a Washington limited liability company Aptn ofsw 1!4 NE 1!4 S 29, T 39N, R2 E, W.M. Tax Parcel Nos.: ; FERNDALE STATION STORMWATERAGREEMENT THIS AGREEMENT ("Agreement") is made and entered into this / 8 lb.. day of June, 2008, by and between CITY OF FERNDALE, a Washington municipal corporation, (hereinafter "City"), and KT FERNDALE STATION LLC, a Washington limited liability company (hereinafter "KT Ferndale"). RECITALS: A. KT Ferndale has applied to the City of Ferndale for various development and building permits for the real property legally described as set forth in the attached Exhibit "A" (hereinafter the "KT Property"). B. Part ofkt Ferndale's proposal involves the abandonment of a bioswale located within the KT Property that is designed to serve the KT Property and the properties lying easterly and adjacent to the KT Property, more particularly described in Exhibit "B". The KT Property and the property described in Exhibit "B" are collectively referred to as the "Drainage Area". C. The City wishes to reduce the amount of storn1water that flows through its pump station located on Main Street and KT Ferndale would like to abandon the remaining storn1water detention ponds located substantially on the KT Property, as more particularly described in the Joint Stormwater Facility Agreement recorded under Whatcom County Auditor's File No (hereinafter the "Existing Detention Ponds"). D. Most of the storn1water from the Drainage Area is designed to run into the Existing Detention Ponds. All of the stonnwater that flows into, or is routed into, the Existing Detention Ponds shall hereinafter be referred to as the "Stormwater". E. KT Ferndale has agreed that it will, pursuant to the terms of this Agreement, abandon the Existing Detention Ponds and route all stonnwater that flows into the Existing Detention Ponds into pipes or ditches to convey the stormwater directly to the Neubauer Pond, which is a City of Ferndale regional water quality facility (hereinafter the ''Neubauer Pond").

4 NOW THEREFORE, in consideration of the mutual promises and agreements contained herein, the parties agree as follows: 1. KT Ferndale shall, on or before three (3) years from the date of this Agreement, cause Stormwater to flow directly into the Neubauer Pond. 2. The conveyance systems used to convey stonnwater from the Drainage Area to the Neubauer Pond shall satisfy the City offerndale'sdevelopment standards. 3. All plans for relocation of the stonnwater facilities desclibed above shall be approved by the City of Ferndale prior to their installation and construction. 4. The KT Property's agreement to perform the work described in Sections 1, 2 and 3 of this Agreement shall be secured by a bond or other alternate collateral approved by the City of Ferndale. The bond, or alternate collateral, shall be in the amount of Two Hundred Fifty Thousand Dollars ($250,000.00) The pmiies agree that this is a voluntary agreement for the purposes ofrcw 6. KT Ferndale aclmowledges that the execution and recording of this Agreement shall be made a condition of building permits and fill and grade permits issued by the City of Ferndale for improvements on the KT Property, and KT Ferndale agrees that it shall not appeal, protest or contest the imposition of these terms as a condition to its building permits and fill and grade permit. 7. In consideration for the mutual promises contained herein the sufficiency of which is hereby acknowledged by the parties, the parties hereby release and forever discharge one another from any and all claims, demands, actions or causes of action of any kind, accruing before the date of this release relating to the issuance of all development m1d building pennits for the Ferndale Station project. This release shall apply to members, consultants and advisors ofkt Ferndale and to all employees, elected officials and consultants of the City of Ferndale. It is understood that this is a final release and settlement of all claims of every kind, whether lmown or unknown, suspected or unsuspected between the parties. CITY OF FERNDALE 2

5 STATE OF WASHINGTON ) ) ss. COUNTY OF WHATCOM ) On this /$721 day of June, 2008, before me personally appeared KENT THOMAS, to me known to be the Member of the limited liability company that executed the within and foregoing instrument to be the free and voluntary act and deed of said limited liability company for the uses and purposes therein mentioned, and on oath stated that he was authorized to execute said instrument. IN WITNESS WHEREOF, I have hereunto set my hand and official seal the day and year first above written. Notary Public in and forth residing at Bellingham. My Commission Expires: 5 / STATE OF WASHINGTON ) ) ss. COUNTY OF WHA TCOM ) On this J ffllj.day of June, 2008, before me personally appeared GARY JENSEN, to me known to be the MAYOR of the City offerndale, the municipal corporation that executed the within and foregoing instrument to be the free and voluntary act and deed of said corporation for the uses and purposes therein mentioned, and on oath stated that he was authorized to execute said instrument. IN WITNESS WHEREOF, I have hereunto set my hand and official seal the day and year first above written. Notary Public in and forth State of Washington, residing at Bellingham. My Commission Expires: 5/9-09. N:\WP\CTL\CLIENTS\KT Ferndale Station\Docs\Ferndale Station Stonnwater Agrnt.doc 3

6 EXHIBIT "A" KT Property Legal Description The Easterly feet of the Westerly feet of the Southwest quarter of the Northeast qumier of Section 29, Township 39 North, Range 2 East, W.M., lying Northeasterly ofthe Burlington Northern Railroad (Great Nmihem Railroad Company) right-of-way, together with that portion of said Southwest qumier of the Northeast quarter described as follows: Commencing at the Northeast comer of said Southwest quarter of the Northeast quarter; thence South 00 44'27" West along the East line of said subdivision a distance of feet; thence Nmih 88 36'05" West, parallel with the Nmih line of said subdivision a distance of feet to the true point ofbegilming; thence South 00 29'40" West, parallel with the West line of said subdivision, a distance of feet; thence South 44 40'57" West, a distance of feet, more or less, to the Nmiherly margin of the aforementioned railroad right-of-way; thence along said Northerly margin Nmih 45 19'03" West a distance of feet to the East line of the Westerly feet of said subdivision; thence North 00 29' 40" East along said East line a distance of feet to the South line ofthe North feet of said subdivision as measured along the East line thereof; thence South 88 36'05" East along said South line a distmice of feet to the true point ofbegilming. Except that portion conveyed to the State of Washington for highway purposes by deed recorded under Whatcom County Auditor's File No Situate in Whatcom County, Washington. 4

7 EXHIBIT "B" Briar Property Legal Description Parcel A: The North feet of the Southwest Quarter of the Northeast Quarter of Section 29, Township 39 North, Range 2 East, W.M., as measured along the East line of said subdivision; Except the Westerly feet of said Southwest Quarter of the Nmiheast Quatier. Also Except the Nmiherly feet for right-of-way purposes. Also except that portion conveyed to the State of Washington for highway purposes by deed recorded under Whatcom Auditor's File No Situate in Whatcom County, Washington. Parcel B: That portion of the Northwest Quarter of the Northeast Qumier and the Southwest Quarter of the Northeast Quarter of Section 29, Township 39 North, Range 2 East, W.M., described as follows: Commencing at the Northeast corner of said Southwest of the Nmiheast Quarter; Thence South 00 44'27" West along the East lii1e ofthe Southwest Quarter of said Northeast Quarter a distance of feet to the Southerly margin of LaBounty Drive; Thence along said Southerly margin Nmih 88 36' 05" West parallel with the North line of said Southwest Quarter of the Northeast Quarter, a distance of feet to the True Point of Beginning and the beginning of a curve to the right, the central angle point of which bears Nmih 1 23'55" East a radial distance of feet; Thence along said curve through a central angle of '36", an arc distance of feet to a point of tangency; Thence North 31 42'29" West a distance of feet to the beginning of a non-tangent curve to the left, the central angle point of which bears South 58 17'31" West a radial distance of feet; Thence along said curve to the left through a central angle of 35 04'06" an arc distance of feet to the begim1ing of a non-tangent curve to the right, the central angle point of which bears North 27 19'53" West a radial distance of feet; last said curve further described as being concentric with and feet Southeasterly of the centerline of Main Street, as shown on Washington Department of Transportation Sheet 3 of 4, Smith Road to Femdale, dated March 8, 1966; Thence Southwesterly along said curve through a central angle of 16 48' 1 0" an arc distance of feet to the intersection with a line parallel with and feet, as measured at right angles to, the West line of said Southwest Quarter; Thence South '40" West along last said parallel line a distance of feet to the beginning of a non-tangent curve to the left, the central angle point of which bears North 10 22'22" West a radial distance of feet, said curve further described as being concentric with and 75 feet Southeasterly ofthe said centerline of Main Street; Thence Northeasterly, along said curve through a central angle of04 5l '55" an arc distance of91.28 feet; Thence South 88 36'05"East Parallel with the North line of said Southwest Quarter of the Northeast Quarter, a distance of feet to the True Point of Beginning. Situate in Whatcorn County, Washington. TOGETHER WITH Parcel C of the Record of Survey showing exempt subdivision, recorded under Whatcom County Auditor's File No

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