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ti <br /> <br /> ,r ~ Prof ect N :201-613 <br /> , West Eugene Wetlands Land A gnLsitions <br /> OREGON WATERSHED ENHANCEMENT BOARD <br /> WATERSHED ACQUISITION GRANT AGREEME T <br /> This grant agreement is between the Oregon Watershed Enhancement Board, he eafter <br /> .called "Board," and City of Eugene, Public Works Department hereafter called " rantee," <br /> in consideration of the'mutual covenants contained herein. This agreement consis of the <br /> following, in descending order of precedence: this agreement less all Exhibits; an attached <br /> Exhibits A, B, and C. All Exhibits are incorporated herein by this reference. <br /> A. Authorization <br /> This grant is authorized by ORS 541.351 to 541.401 and is subject to Oregon A ' ' five <br /> Rules 695-001-0000 to 695-030-0030 as such rules may periodically be amended by~ a Board. <br /> B. Grant Award <br /> The Board hereby agrees to provide funds in the amount of $500,000.00 on the terms ed in <br /> this agreement for the purpose of funding the acquisition of (fee simple) title to two is of <br /> real property located in Lane County, Oregon,.as more particulazly described in the a hed <br /> Exhibit A (hereafter, the "Properties'. The Properties consist of two tracts of land: th Lee tract <br /> and the Marvin tract. <br /> C. Funding Conditions <br /> As a condition for the disbursement and use of Board funds, the Grantee agrees to the ollowing. <br /> (1) The Board. certifies that at the time this agreement is entered into sufficient ds are <br /> ' authorized for expenditure within the Board's current appropriation or ~limita on. <br /> Should a reduction in Oregon State Lottery Funds result in reduced funding the <br /> Board, this grant may be reduced in accordance with Oregon Law. <br /> (2) 'The $500,000.00 in grant funds from the Board will be used exclusively for a purpose <br /> of fee simple title to the Properties, and to secure transfer of title to the Prope 'es to <br /> Grantee. <br /> . (3) In addition to the other conditions listed herein, Board funds will be disb to an <br /> escrow account upon written approval by the Executive Director of the Bo of escrow <br /> instructions. Such instructions shall~include, but are not limited to, requirem is that: . <br /> ' (a) Board funds be returned to the Board in the event the purchase of the Pro roes by <br /> Grantee has not closed on or before November 30, 2002, unless otherwise ' cted in ~ . <br /> ' writing by the Board; and (b) Boazd fiords will not be released from escrow til the <br /> . ' escrow agent receives written notice from the Executive Director that he has pproved: <br /> (i) the title report showing the condition of title of the Properties (including y <br /> exceptions listed therein); (ii) the form of deed to the Properties in which titl will be <br /> held by Grantee; and (iii) the form of deed, conservation easement or other ti e " <br /> 1 <br /> <br />