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Execution Draft <br /> ATTACHMENT B <br /> PURCHASE AND SALE AGREEMENT <br /> CONTRACT No: 2004 -05345 <br /> PROPERTY: Vacant land shown as Map 18 -03 -10701 in Lane County Land Records <br /> PARTIES: CITY OF EUGENE, an Oregon municipal corporation ("City ") <br /> AND: THE MCDOUGAL FOUNDATION, INC., an Oregon nonprofit corporation("Fouon') <br /> RECITALS <br /> A. Foundation owns a discrete legal parcel of land of approximately 100 acres that lies southeast <br /> of the City, which is within the City's urban growth boundary. This 100 acre parcel is <br /> referred to herein as the "Property. " <br /> B. City wishes to remove the Property from its urban growth boundary to offset the inclusion of <br /> other lands into the urban growth boundary pursuant to a Metropolitan Plan amendment. <br /> C. City wishes to purchase the Property for use as an addition to the City's parks and urban <br /> trails system and to preserve the Property from timber cutting. <br /> D. Foundation is willing to have the Property removed from City's urban growth boundary if <br /> City purchases the Property from Foundation under the terms and conditions set forth herein. <br /> AGREEMENT <br /> 1. AGREEMENT TO PURCHASE AND SELL THE PROPERTY. <br /> On and subject to each of the terms, covenants, conditions and other provisions set forth in <br /> this Agreement, City agrees to purchase and Foundation agrees to sell the Property, which is more <br /> particularly described on Exhibit A hereto. <br /> 2. PURCHASE PRICE. <br /> The purchase price for the Property is NINE HUNDRED FIFTY THOUSAND DOLLARS <br /> ($950,000.00) ( "Purchase Price "). The Purchase Price shall be paid in cash at closing. <br /> 3. DEED. <br /> 3.1 FORM OF DEED. The deed conveying the property shall be a General Warranty Deed, <br /> free of all encumbrances of record except for the "Permitted Encumbrances" described <br /> below. <br /> PAGE 1 - PURCHASE AND SALE AGREEMENT -100 ACRES IN LAUREL HILL VALLEY <br />