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.-1 <br /> Public Works <br /> Engineering <br /> City of Eugene <br /> 858 Pearl Street <br /> Eugene, Oregon 97401 <br /> (541)682-5291 <br /> (541) 682-5032 Fax <br /> September 11, 2006 <br /> Owner/seller: Purchaser: <br /> Leslie T. Drews City of Eugene, an Oregon Municipal Corp. <br /> Walt Drews 858 Pearl Street <br /> 1022 3'~ Place Eugene, OR -97401 <br /> Springfield, OR 97477 09-19-06 A05 : 32 t nl <br /> RE: Map and Tax Lot 17-04-29-00 TL #1500 -Approximately 2.6 acres <br /> This letter is intended to formalize recent verbal discussions between the owner and the City <br /> of Eugene into a written Letter of Agreement which can also provide escrow instructions for <br /> setting up the closing escrow. <br /> The City of Eugene has a need to acquire property rights for a proposed public project, some <br /> <br /> ~rr• of which involve the subject property. In consideration of impacts to the subject parcel is has <br /> been concluded the City would purchase the entire parcel, containing approximately 2.6 acres. <br /> As such, Leslie T. Drews (aka Leslie T. Drews-Schneider) agrees to sell and the City of <br /> Eugene agrees to purchase the referenced property for a price of 150 000, cash at the close <br /> of escrow, as full payment of just compensation. <br /> The City of Eugene agrees to pay all closing costs associated with the acquisition of the <br /> subject property, including both sides of escrow, title insurance, and recording fees. The <br /> property taxes are to be pro-rated to the date of closing. Closing date to be on or before <br /> September 22, 2006. <br /> The City of Eugene proposes to close the transaction with Cascade Title and Escrow at 811 <br /> Willamette Street, Eugene, OR 97401, with Sarah Vail acting as escrow agent. Title to the <br /> subject property is to be conveyed free and clear of any liens or encumbrances except those <br /> approved in writing by the City of Eugene. <br /> The amount of compensation is the total amount of monies to be paid for all property rights to <br /> be acquired by the City, regardless of the number of persons claiming an interest in the <br /> property. This agreement is binding upon the heirstt p~ersonal representatives, successors, and <br /> assigns of the sellers S-eS~Qsi? ~~~emo~~ lea c~U 1 C33~ •P n°~'o, ~ <br /> \ S~1e~ ~~Ser ~ s l r`v~ r iy ~ `~o ~e.~ ~-~4 S~i~ Karst S <br /> o a~f~+- L~°S n~ <br /> tcin ~ G 1 a t Ml 5 GL t` r S , ~ .~vt. <br /> <br />