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