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1 <br /> 4/11I o r <br /> LETTER OF INTENT <br /> Arlie & Company <br /> 2911 Tennyson Avenue, Suite 400 <br /> EUGENE Eugene, OR 97408 <br /> Parks and <br /> Open Space Dear Ms. Arlie, <br /> Keeping Eugene Green The purpose of this letter is to express the interest of the City of Eugene ( "Eugene ") in <br /> negotiating with Arlie & Company ( "Arlie ") for the purchase of real property in the general <br /> vicinity of the property depicted on the attached Exhibits A and B. Although the specifics <br /> A DIVISION OF PUBLIC WORKS of an actual sale /purchase still need to be agreed upon, the types of terms and conditions are <br /> 1820 ROOSEVELT BLVD expected to include, but not be limited to, the following: <br /> EUGENE, OREGON 97402 <br /> 1. Sale. Arlie would sell to Eugene real property in the general vicinity of the <br /> p ro <br /> (5411 82 -08 <br /> property described on the attached Exhibits A and B. <br /> FAX (541) 682 -0682 p y <br /> WWW.EUGENE -0R.GOV /PARKS 2. Consideration. The consideration for the purchase of the property would be <br /> as follows: for the property lying south of the Ridgeline Trail, the price would be $5,000 <br /> per acre (approximately 286.60 acres) and for the property lying north of the Ridgeline <br /> Trail, the price would be $18,000 per acre (approximately 28.40 acres), for an approximate <br /> total purchase price of approximately $1.944 million. The property to be conveyed would <br /> PARKS AND OPEN SPACE PLANNING need to be certified by an Oregon licensed surveyor to verify the exact acreage once actual <br /> property lines are finalized. The final sales price would be reduced by a $600,000 credit in <br /> PARK OPERATIONS payment of the obligation of Arlie as set forth in the purchase and sale agreement between <br /> the parties dated May 20, 2008, covering the sale of adjoining property. <br /> URBAN FORESTRY <br /> 3. Closing. The parties anticipate closing no later than 30 days following <br /> approval by the Bankruptcy Court and no later than December 31, 2010. <br /> NATURAL RESOURCES <br /> 4. Effect of this Letter. This letter sets forth the intent of the parties only, is <br /> not binding on the parties, and may not be relied on as the basis for any claim whatsoever. <br /> The parties understand that no party shall be bound until a formal purchase and sale <br /> agreement has been negotiated, delivered, and approved by the City, by the Bankruptcy <br /> Court in connection with Arlie's Chapter 11 reorganization proceeding, and by the Board of <br /> Direct-r of r1; c. <br /> 5. Termination of Negotiations. This letter may be terminated at any time by <br /> either . party giving written notice to the other. <br /> 6. Easements. Eugene would grant easements to Arlie for continued use of <br /> existing unimproved roads. Eugene would grant an access easement of not less than 28 feet <br /> in width for any Arlie parcels landlocked as a result of the proposed sale. <br /> EUGENE <br />