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FOURTH AMENDMENT TO <br />PARK SYSTEMS DEVELOPMENT CHARGES CREDIT AGREEMENT <br />BETWEEN: City of Eugene, an <br />Oregon Municipal Corporation <br />AND: Neighborhood Economic Development Corporation <br />(City) <br />( NEDCO) <br />A. The City and NEDCO entered into an agreement on November 10, 1994, <br />establishing a credit agreement for the Park System Development Charges required on the Field <br />of Dreams development ( "Agreement "). The City and NEDCO amended the Agreement on April <br />21, 1995, establishing an escrow account as security for construction of the public park <br />improvements in the Field of Dreams development ( "Amendment "); amended the. Agreement a <br />second time on September 27, 1996, extending the deadline for,completion of the construction of <br />the park improvements and acceptance of the improvements in writing by the City to October 30, <br />1996 ( "Second Amendment "); and amended the Agreement a third time on October 28, 1996 to <br />extend the completion date to November 30, 1996 ( "Third Amendment"). <br />B. NEDCO has completed the public park improvements, in the Field of Dreams <br />development required to be performed under the Agreement or Amendments for the SDC credit <br />of $16,104.00, and is not required by the Agreement to perform any additional public park <br />improvements at that development. <br />C. City hereby accepts the Field of Dreams park improvements, and by copy of this <br />Agreement authorizes the Escrow Agent to release to NEDCO.4p4e 90 % of the amount now on <br />deposit with the Escrow Agent. The remaining 10% of the amount now on deposit shall be <br />retained by the Escrow Agent. The City agrees that the Escrow Agent shall release these <br />remaining funds to NEDCO one year from the later of the two dates written below, unless the <br />City sends written notice to the Escrow Agent before the expiration of the one year warranty <br />period that the funds are owed 'to the City pursuant to the Agreement and Amendments. <br />D. Other than as specifically provided in this amendment, the City and NEDCO <br />acknowledge that all terms, conditions and obligations contained in the original Agreement and <br />Amendments thereto remain in full force and effect. The effective date of this amendment shall <br />be the latest date of signature by the parties. <br />CITY OF EUGENE <br />NEDCO <br />B l n <br />Y <br />Jeff Lankston, Acting City Engineer <br />B y �.�� <br />ubbird, Executive Director <br />Date R) /h Date �� 6 <br />Fourth Amendment to Park Systems Development Charges <br />Credit Agreement - Page 1 of 1 <br />