Santa Clara - McDougal Trade (Failed)

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4 . x Execution Draft i the SC Tract or any part thereof except for routine encumbrances for taxes and assessments not yet due and payable, and encumbrances approved in advance, in writing, by the City. 6. Term of Agreement. This Agreement shall continue in full force and effect until the SC Plan is completed and the City accepts a general warranty deed vesting title of the Water Course in the City, provided that either OWNERS or PARKS may terminate this Agreement with thirty (30) days' written notice to the other if the UGB amendment is not approved by the City council by July 1, 2005. 7. Memorandum. At City's request, each of OWNERS will sign a memorandum of this Agreement for recording in the official Lane County Land Records. 8. Relationship of Parties. The parties do not intend, by this Agreement or any agreement contemplated herein, to create a partnership, joint venture or any relationship of employment or agency, and no party shall be authorized to undertake any action hereunder as the act of any other party. Each party to this Agreement is, and shall at all times remain, an independent entity cooperating with the other parties solely for the purpose of furthering its own interests. 9. No Third -Party Beneficiaries; Assignment. The parties do not intend this Agreement to be made for the benefit of, or to be enforceable by, any third party, nor will this Agreement be assignable by any party without the prior written consent of all other parties. IN WITNESS WHEREOF, the parties have executed this Agreement on the dates set forth • below. LEELYNN C. B • ,./.. ,14 fir/ Date: / G 8 O y M cDougal 'resident ' ILEY MT., INC. By/ G -, 1 Da • te. C/ Yyv y Norman N. McDougal, President [Remainder of Page Intentionally Blank] • Urban Lands and Parks Pre - Planning Development Agreement Page 8 of 9