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All applications for new development or substantial improvements in the tsunami hazard overlay zone shall be accompanied by a hazard acknowledgment and disclosure statement, executed by the property owner, which sets forth the following:

(1) A statement that the property is subject to inundation by a local source Cascadia event tsunami, including the DOGAMI scenarios (S, M, L, XL, or XXL) that could potentially flood the site, and that development thereon is subject to risk of damage from tsunami;

(2) A statement that a local source tsunami poses a potential life safety threat to occupants of the property, and that the protection of life safety will require occupants to evacuate to high ground in the event of a local source tsunami;

(3) A statement acknowledging that the property owner accepts and assumes all risks of damage from tsunami associated with the development of the subject property; and

(4) A statement that North Bend, its agents and employees are released from any and all claims which may arise as a result of damages, losses, or injuries sustained by the property owner and his/her heirs, successors and assigns from local tsunami hazards affecting the subject property. (Ord. 2028 § 2, 2019)