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Exhibit C <br /> Termination of Deposit Agreement and Instructions to Depository <br /> <br /> Whereas, on November 13, 2001, Centennial Bank executed an Agreement to Maintain Deposit <br /> <br /> of Funds (To Facilitate Development of Son Blaze Village PUD) among Blazer Construction <br /> Company, Inc ("BCCI"), the City of Eugene ("City"), and Centennial Bank ("Centennial"); and <br /> <br /> Whereas, the agreement described in the foregoing clause (the "Deposit Agreement"), provides <br /> for the deposit with Centennial of a certain sum to provide security for BCCI's obligation to <br /> construct certain public improvement identified in the Deposit Agreement as the Phase 1 <br /> Transportation Improvements; and <br /> Whereas, the Deposit Agreement, as amended by that Correction of Agreement to Maintain <br /> Deposit of Funds (To Facilitate Development of Son Blaze Village PUD) executed by <br /> Centennial on July 23, 2002, provided for the deposit with Centennial of two hundred fifty <br /> thousand Dollars ($250,000.00) as security for BCCI's obligation to construct certain public <br /> improvements identified in the Deposit Agreement as the Phase 2 Transportation Improvements; <br /> and <br /> Whereas, on or about July 22, 2003, City notified Umpqua Bank, as successor to Centennial <br /> Bank, that it should release the deposit of all funds held in the Phase 1 Transportation <br /> Improvements deposit account; and <br /> Whereas, City and BCCI have entered into an agreement ("Construction Agreement") whereby <br /> City will construct the Phase 2 Transportation Improvements using the Phase 2 deposit funds; <br /> and <br /> Whereas, the Construction Agreement requires that all sums in the Phase 2 Transportation <br /> Improvements deposit account held by Umpqua Bank under the Deposit Agreement be disbursed <br /> to City for application to the costs of construction of the Phase 2 Transportation Improvements; <br /> and <br /> Whereas, following the disbursement of all amounts in the Phase 2 Transportation <br /> Improvements deposit account the continuance of the Deposit Agreement will be unnecessary; <br /> Now Therefore, The City of Eugene, an Oregon municipal corporation, and Blazer Construction <br /> Company, Inc., an Oregon business corporation, acting through their duly appointed officers, do <br /> <br /> hereby request and direct Umpqua Bank as follows: <br /> 1, Release and Disbursement of Phase 2 Transportation Improvements Deposit Account. <br /> Umpqua Bank shall disburse all funds held in the Phase 2 Transportation Improvements <br /> Deposit Account to City by Certified Check whereupon the Phase 2 Transportation <br /> Improvements Deposit account shall be closed. <br /> South Judkins Point Interchange Funding and Construction Agreement Page 7 <br /> <br />