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i <br /> 4 <br /> G <br /> Execution Draft <br /> The parties agree to collaborate on a schedule for the development of th ~ SC Tract that will <br /> allow PARKS to pay its shaze of expenses when incurred, and PA~t~S agrees to seek <br /> sufficient budget appropriations to pay for its share of development cojsts; but the parties <br /> acknowledge that OWNERS may not be willing to delay development activities until such time as <br /> PARKS has received sufficient appropriations to pay for its cost s}~aze. In addition, <br /> OWNERS and MCDOUGAL acknowledge that PARKS cannot make unbudgeted <br /> expenditures. Therefore, prior to initiating any project for which PARKS or City would <br /> otherwise have financial responsibility, OWNERS shall consult with Pt~RKS to detenmine <br /> whether PARKS has sufficient funds legally available to pay for its share~of the project, and, <br /> if such funds aze not available, OWNERS may either: (1) delay the project until such time as <br /> PARKS has the financial capacity to undertake the same, or (2) beaz t~e full cost of the <br /> project until such time as PARKS is legally able to reimburse OWNERS~for its shaze of the <br /> project costs, or (3) require PARK to negotiate a redesign of the proj~ict that will reduce <br /> OWNERS' dependency on PARKS' financial contribution. No pro~ecy expenditure made <br /> without PARKS' prior consent shall be a debt of PARKS or City; nor s1~11 PARKS or City <br /> be obligated to pay any interest or other penalty with respect to such exper~tiiture. <br /> F; <br /> 4. Metro Plan Amendment Approval. i <br /> i <br /> 4.1 Limitation on PARKS Action. PARKS cannot promise orb guarantee that the <br /> UGB and Metro Plan Amendment sought by OWNERS will be granted, but PARKS will <br /> support the amendment for the reasons set forth in this Agreement tea the extent legally <br /> possible§ . <br /> 4.2 Agreement of OWNERS to Delay Approval. OWNE~S agree, without <br /> reservation or condition, that the City of Eugene may delay approval ¢f any modification <br /> of the UGB or any other Metro Plan Amendment requested by OWNERS in conjunction <br /> with the proposal described in this Agreement until all of the followin~ have occurred: <br /> i <br /> 4.2.1 Execution of Preliminary Plan. PARKS and O~TNER shall have <br /> executed all contracts and instruments necessary to evidence compliance with the <br /> provisions of Subsection 2.3 of this Agreement. <br /> 4.2.2 Conveyance of Parklands. OWNERS shall have con~reyed to the City of <br /> Eugene, by general warranty deed, all of the Parklands other than the Water <br /> Course, as described in the Preliminary Plan, as a separate leg parcel and free of <br /> all encumbrances, including property taxes, except for thos encumbrances of <br /> record approved by and acceptable to the City. OWNERS shall be solely liable <br /> for payment of all property taxes affecting or imposed upon any part of the <br /> Parklands through the property tax year in which the co veyance is made, <br /> including, without limitation, the repayment of tax deferrals d~e as a result of any <br /> i <br /> 3 <br /> Urban Lands and Parks Pre-Planning Development Agreement Page 6 of 9 <br /> I <br /> r <br /> i <br /> <br /> LOO~j SOd ~H~~ Md dNd9IId Z88~ Z89 Ti*4 ~XV.~ YZ~TT NOAI ~0/5Z/OT <br /> <br />