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Execution Draft 3.2 USE RESTRICTION AND CONTINGENT REVERSION. The deed shall also provide that City's use of the Property for a period of 36 months from the date of the conveyance will be restricted to uses for purposes of environmental conservation and for development and use for public parks and trails. The deed may also provide that title will revert to Grantor if City makes any use of the Property that violates the use restriction, provided that the violation continues for more than thirty (30) days after the date that City receives a written notice from Grantor which specifies the manner in which the Property is being misused as provided in the deed and the manner in which the misuse can be corrected. 3.3 FIRE BREAK. The Property may be encumbered by the imposition of a 100-foot-wide secondary fire break easement, to meet minimum Lane County secondary fire break standards, adjacent to the southem boundary of the Property to be maintained by McDougal Bros Investments, a general partnership. The parties understand that the term "secondary fuel break" does not require the removal of herbaceous plants or vegetation lower than two feet in height and further than any fuel break activities shall be conducted to minimize interference with parklands while protecting adjacent timber and will be subject to the City's prior review and approval. 3.4 FENCE AGREEMENT. McDougal presently grazes cattle on the Property and adjacent McDougal-owned lands. If City decides to prohibit grazing on the Property, City will install fencing as needed to enable McDougal to continue its grazing operations on McDougal land but McDougal and City shall each pay for one-half of the cost of the fencing. 4. CLOSING. 4.1 CLOSING DATE. The completion of the transaction contemplated by this Agreement (the "Closing") shall take place at the offices of the Escrow Agent on a date mutually agreeable to the parties but not more than thirty (30) days after the satisfaction of all conditions to closing set forth in Section 6 of this Agreement. 4.2 ESCROW AGENT. The "Escrow Agent" shall be Fidelity National Title of Oregon, located at 4710 Village Plaza Loop, Eugene, Oregon 97401. 4.3 CLOSING MECHANICS. At the Closing: (1) City shall pay the Purchase Price and all Closing Costs to be paid by City; (2) Foundation shall deliver the deed described in subsection 3; and (3) Foundation shall pay its share of the Closing Costs, all taxes, and the premium for title insurance to be furnished to City. 4.4 CLOSING COSTS; TITLE INSURANCE; TAXES. Foundation and City shall each pay one-half (1/2) of the Escrow Agent's fees and costs of conducting the Closing, and Foundation shall pay the premium for the title policy to be issued to City pursuant to subsection 4.5, below. Because City is exempt from real property taxes and assessments, there shall be no pro-ration of real property taxes and assessments upon Closing; and Foundation shall be PAGE 2 - PURCHASE AND SALE AGREEMENT- 100 ACRES IN LAUREL HILL VALLEY