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r <br />~ <br />Iqq9-3Ztv <br />AGREEMENT FOR ACQUISITION AND DEVELOPMENT OF <br />PRE'S ROCK MEMORIAL PARK <br />BETWEEN: <br />~ AND; <br />EFFECTIVE <br />DATE: <br />Golden Circle Recreation, Inc. ("Benefactor") <br />The City of Eugene, Oregon ("City") <br />February 26, 1999 <br />This Agreement for Acquisition and Development of Pre's Rock Memorial Park (this <br />"Agreement") is made as of the date shown above. This Agreement memorializes the terms and <br />conditions under which Benefactor makes its irrevocable pledge of funds for the acquisition of the <br />real property described herein and the City's obligations with respect to its use of the pledged funds <br />and the real property. <br />WHEREAS, The State of Oregon, Department of Transportation ("ODOT") owns certain <br />real property located within the City of Eugene referred to herein as the "Property" consisting of <br />I:ots 1 through 13, Block 3, REPLAT OF VICTORIA HEIGHTS, Lane County, Oregon; (the <br />"Property") and <br />WHEREAS, the Oregon Department of Transportation ("ODOT") has agreed to sell the <br />Property to the City under the terms and conditions of the Contract for the Sale of Real Property <br />between the State of Oregon, by and through its Department of Transportation, and the City of <br />Eugene (the "ODOT Contract"), a copy of which is attached to this Agreement as Exhibit B, and by <br />this ref~rence is fully incorporated herein; and <br />WHEREAS, Golden Circle Recreation, Inc. ("Benefactor") has offered to provide all funds <br />required under the ODOT Contract for the acquisition of the Property; and <br />WHEREAS, The Property surrounds and includes a particular piece of real property locally <br />known as "Pre's Rock" and popularly accepted to be the site of the automobile accident that caused <br />the death of sports legend, Steve Prefontaine. The purpose of benefactor's pledge of funds is to <br />enable the Property to be acquired by the City for use as a public park dedicated to the memory of <br />Steve Prefontaine; and <br />WHEREAS, In exchange for Benefactor's irrevocable pledge of funding herein, City has <br />agreed to enter into the ODOT Contract and to make certain improvements to the Property to <br />Agreement for Acquisition and Development of Pre's Rock Park - Page I <br />