Item B: Disposition of Real Property

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Right of Repurchase: The URA shall retain the right to repurchase the property at Buyer’s purchase price based upon the failure to commence construction prior to December 31, 2013. System Development Charges: The URA will pay the system development charges (SDC’s) related to the construction of the Project. Drive Thru: City will grant approval of a drive thru use on the Property. Existing Building: The URA will be responsible for removing the Agripac office building located on the property. Current Garden Use: The URA will not renew or extend the intergovernmental agreement with the University of Oregon for the garden use, and the URA will be responsible for facilitating the removal of the garden in a timely manner. Curb Cuts: City will grant approval of the cuts necessary to provide reasonable access for the Project. On-Street Parking: City will work with Buyer to reasonably provide accessible on-street parking along th 8 Avenue for retail customer usage. th 8 Avenue Study: Based upon the overall Downtown Plan goals related to Great Streets and th connections to the riverfront, City will conduct a future study related to 8 Avenue west of Mill Street, including but not limited to two way traffic options. Utilities: During the Due Diligence Period, City will work with Buyer to determine the level of utility extensions in the public right-of-way that are necessary for the Project to be developed. In the event that there are deficiencies or needs identified in the right-of-way, City will work with Buyer to investigate options and potential funding sources for improvements in the right-of-way. Exclusive Negotiation: URA will not enter into negotiations with any other party. Brokerage Commission: Buyer is responsible for all broker fees. S:\CMO\2012 Council Agendas\M121031\S121031B.doc