Item 2E - Metro Plan Amendment - Laserfiche WebLink

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Execution Draft The parties agree to collaborate on a schedule for the development of the SC Tract that will allow PARKS to pay its share of expenses when incurred, and PARKS agrees to seek sufficient budget appropriations to pay for its share of development costs; but the parties acknowledge that OWNERS may not be willing to delay development activities until such time as PARKS has received sufficient appropriations to pay for its cost share. In addition, OWNERS and MCDOUGAL acknowledge that PARKS cannot make unbudgeted expenditures. Therefore, prior to initiating any project for which PARKS or City would otherwise have financial responsibility, OWNERS shall consult with PARKS to determine whether PARKS has sufficient funds legally available to pay for its share of the project, and, if such funds are not available, OWNERS may either: (1) delay the project until such time as PARKS has the financial capacity to undertake the same, or (2) bear the full cost of the project until such time as PARKS is legally able to reimburse OWNERS for its share of the project costs, or (3) require PARK to negotiate a redesign of the project that will reduce OWNERS' dependency on PARKS' financial contribution. No project expenditure made without PARKS' prior consent shall be a debt of PARKS or City; nor shall PARKS or City be obligated to pay any interest or other penalty with respect to such expenditure. 4. Metro Plan Amendment Approval. 4.1 Limitation on PARKS Action. PARKS cannot promise or guarantee that the UGB and Metro Plan Amendment sought by OWNERS will be granted, but PARKS will support the amendment for the reasons set forth in this Agreement to the extent legally possible§. 4.2 Agreement of OWNERS to Delay Approval. OWNERS agree, without reservation or condition, that the City of Eugene may delay approval of any modification of the UGB or any other Metro Plan Amendment requested by OWNERS in conjunction with the proposal described in this Agreement until all of the following have occurred: 4.2.1 Execution of Preliminary Plan. PARKS and OWNER shall have executed all contracts and instruments necessary to evidence compliance with the provisions of Subsection 2.3 of this Agreement. 4.2.2 Conveyance of Parklands. OWNERS shall have conveyed to the City of Eugene, by general warranty deed, all of the Parklands other than the Water Course, as described in the Preliminary Plan, as a separate legal parcel and free of all encumbrances, including property taxes, except for those encumbrances of record approved by and acceptable to the City. OWNERS shall be solely liable for payment of all property taxes affecting or imposed upon any part of the Parklands through the property tax year in which the conveyance is made, including, without limitation, the repayment of tax deferrals due as a result of any Urban Lands and Parks Pre-Planning Development Agreement Page 6 of 6