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ATTACHMENT B <br /> Execution Draft <br /> <br /> PURCHASE AND SALE AGREEMENT <br /> <br /> CONTRACT NO: 2004-05345 <br /> <br />PROPERTY: Vacant land shown as Map 18-03-10701 in Lane County Land Records <br /> <br />PARTIES: CITY OF EUGENE, an Oregon municipal corporation ("City") <br /> <br />AND: THE McDOUGAL FOUNDATION, INC., an Oregon nonprofit corporation("Foundation') <br /> <br /> RECITALS <br /> <br />A. Foundation owns a discrete legal parcel of land of approximately 100 acres that lies southeast <br /> of the City, which is within the City's urban growth boundary. This 100 acre parcel is <br /> referred to herein as the "Property." <br /> <br />B. City wishes to remove the Property from its urban growth boundary to offset the inclusion of <br /> other lands into the urban growth boundary pursuant to a Metropolitan Plan amendment. <br /> <br />C. City wishes to purchase the Property for use as an addition to the City's parks and urban <br /> trails system and to preserve the Property from timber cutting. <br /> <br />D. Foundation is willing to have the Property removed from City's urban growth boundary if <br /> City purchases the Property from Foundation under the terms and conditions set forth herein. <br /> <br /> AGREEMENT <br /> <br />1. AGREEMENT TO PURCHASE AND SELL THE PROPERTY. <br /> <br /> On and subject to each of the terms, covenants, conditions and other provisions set forth in <br /> this Agreement, City agrees to purchase and Foundation agrees to sell the Property, which is more <br /> particularly described on Exhibit A hereto. <br /> <br />2. PURCHASE PRICE. <br /> <br /> The purchase price for the Property is NINE HUNDRED FIFTY THOUSAND DOLLARS <br /> ($950,000.00) ("Purchase Price"). The Purchase Price shall be paid in cash at closing. <br /> <br /> 3. DEED. <br /> <br /> 3.1 FORM OF DEED. The deed conveying the property shall be a General Warranty Deed, <br /> free of all encumbrances of record except for the "Permitted Encumbrances" described <br /> below. <br /> <br /> PAGE 1 - PURCHASE AND SALE AGREEMENT - 100 ACRES IN LAUREL HILL VALLEY <br /> <br /> <br />