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MEMORANDUM OF UNDERSTANDING <br /> BETWEEN: The City of Eugene (City) <br /> AND: The Eugene Water & Electric Board (EWEB) <br /> EFFECTIVE <br /> DATE: <br /> RECITALS <br /> A. EWEB is the owner of a parcel of land known as Gillespie Butte as <br /> evidenced by a deed recorded on May 21, 1952 in Book 460, on Page 406, in Lane <br /> County Oregon Deed Records. The parcel is shown on Exhibit "A" and described in <br /> Exhibit "B" attached hereto and by reference made a part of this Memorandum of <br /> Understanding. <br /> B. EWEB purchased the Gillespie Butte property for the purpose of <br /> constructing a water reservoir and the property is no longer needed for that purpose. <br /> C. The City desires acquisition of the Gillespie Butte property for park <br /> purposes to provide open space and to preserve its scenic value. <br /> D. The City is the owner of a parcel of land located north and east of <br /> Spencer Butte, which is part of the City's park system. The general location of the City <br /> parcel is shown on Exhibit "C" attached hereto and by reference made a part of this <br /> Memorandum of Understanding. <br /> E. EWEB desires the acquisition of two acres of the City parcel for utility <br /> purposes. <br /> AGREEMENT <br /> 1. On or before December 31, 1992, EWEB shall transfer the Gillespie Butte <br /> property to the City. <br /> Page 1 of 3 <br />