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actual trade of deeds. Upon notification from the Planning Division <br /> Manager that the park boundary can be considered fixed, the deed <br /> shall be prepared and appropriate cash placed in an escrow account. <br /> Final approval of the land exchange is subject to the review by <br /> the City Manager and /or City Council under the provisions of the <br /> Eugene City Code, Real Property Disposal, Code Sections 2.860 and <br /> 2.862, and the issuance of the subdivision permit. (Debra, as I <br /> read the Code, those sections don't really speak to the kind <br /> of trading we are doing here, or could be doing at other park <br /> locations in the future. Do we need something specific to refining <br /> the locations of landbanked park lands ?) <br /> 4. Both parties agree to have the subject parcels appraised by a compe- <br /> tent and experienced certified appraiser to establish their respec- <br /> tive fair market values and share equally in the cost of the <br /> appraisal, with the total cost not to exceed $ <br /> (I believe this figure will be $5000.) <br /> 5. Any necessary Planning approvals, including zone changes, annex- <br /> ations, lot line adjustments or partitions, must be addressed in <br /> the subdivision permit process. <br /> 6. The closing of all transactions shall be through an escrow account. <br /> Costs of the closing, escrow fees, recording fees, and title insur- <br /> ance shall be born equally by both parties. <br /> The terms and conditions noted herein are consistent with City land disposal <br /> procedures, and within the scope of your discussions with John Etter. If you <br /> are in agreement with the above points, please indicate so by signing the <br /> letter in the space designated and returning it to this office in the enve- <br /> lope provided. <br /> Your interest and cooperation in this proposed land eschange is appreciated. <br /> Please call me if you have any questions or wish additional information. My <br /> phone number is 465 -2691. <br /> Sincerely, <br /> Walter J. Haniuk, Parks Land Manager <br /> cc: John Etter, P.W. Maintenance <br /> Joe Ferguson, P.W. Engineering <br /> Signed <br /> Robert Meltebeke, Paradise Homes Inc. Date <br /> Signed <br /> For City of Eugene Date <br />