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� .. ''"� <br /> � After recording, return to <br /> 9269905 LANE COUNTY, Attn. <br /> f ) ¥ Teresa J. Wilson, Ass't. Co. Co <br /> fr <br /> f LSerfiche <br /> MEMORANDUM OF LEASE 11DEL.1o'92 #D6pFUND 10.00 <br /> iii E`.10'92 #06A&T FUND 20.00 <br /> By an instrument in writing LANE COUNTY (COUNTY), a political subdivision of the <br /> State of Oregon, as Lessor, has leased to EMERALD VALLEY BMX (EMERALD VALLEY), <br /> an Oregon non - profit corporation, as Lessee, the following described property: <br /> A PARCEL OF LAND LYING IN THE NORTHWEST QUARTER (NW 1/4) OF THE <br /> NORTHWEST QUARTER (NW 1/4) OF SECTION 33 TOWNSHIP 17 SOUTH, RANGE <br /> 3 WEST, WILLAMETTE MERIDIAN; ALL BEING A PORTION OF THE TRACT OF <br /> LAND CONVEYED TO LANE COUNTY BY THAT CERTAIN DEED RECORDED ON <br /> REEL 156 RECORDERS RECEPTION NUMBER 5000, AND BEING MORE <br /> PARTICULARLY DESCRIBED AS FOLLOWS. <br /> BEGINNING AT THE NORTHWEST CORNER OF SECTION 33, TOWNSHIP 17 <br /> SOUTH, RANGE 03 WEST OF THE WILLAMETTE MERIDIAN; THENCE RUNNING <br /> ALONG THE SOUTH LINE OF THAT CERTAIN SURVEY BY STEVEN E. FORD <br /> FILED IN THE LANE COUNTY SURVEYOR'S OFFICE AS COUNTY SURVEY FILE <br /> NUMBER 14629, SOUTH 87 50'15" EAST 71.16 FEET; THENCE SOUTH 87 <br /> 57'15" EAST 103.84 FEET TO THE TRUE POINT OF BEGINNING; THENCE <br /> LEAVING SAID SURVEY AND RUNNING SOUTH 2 02'45" WEST 347.00 FEET; <br /> THENCE SOUTH 87 57'15" EAST 627.00 FEET, THENCE NORTH 2 02'45" <br /> EAST 347.00 FEET TO THE SOUTH LINE OF THE ABOVE DESCRIBED SURVEY; <br /> t THENCE ALONG SAID SURVEY LINE NORTH 87 57'15" WEST 627.00 FEET TO <br /> THE TRUE POINT OF BEGINNING, IN LANE COUNTY OREGON. <br /> CONTAINING 5.0 ACRES, MORE OR LESS. <br /> This memorandum is executed to evidence and confirm the above lease, to which <br /> reference is made for its terms and conditions which include the following: <br /> 1. Term: June 4, 1992 through June 3, 2002, with option solely in Lessee to <br /> renew for one additional 10 -year term. Thereafter, renewal terms are subject to <br /> Lessor finding there is still a need for the recreational youth activity of <br /> bicycle motocross. If County ever transfers the property, the transferee must <br /> obtain County concurrence in lease termination. <br /> 2. Use: Lease restricts use of premises for bicycle motocross purposes, and <br /> requires reasonable public access to and use of premises for motocross purposes. <br /> EMERALD VALLEY owns all improvements it constructs until lease terminates; <br /> improvements then become COUNTY property. Provision is made in the lease for <br /> relocation of improvements, at the cost of the party requesting relocation. <br /> 3. Assignment: EMERALD VALLEY may subject leasehold estate and improvements <br /> to mortgages or liens that are subject to the terms and conditions of the lease. <br /> WP 1 /mi /00060 /C 1 <br />