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EXCHANGE AGREEMENT <br /> PARTIES: CITY OF EUGENE (CITY) <br /> ROBERT AND LESLIE QUINNEY (QUINNEYS) <br /> RECITALS: <br /> A. THE CITY OWNS WEST UNIVERSITY PARK,- LOCATED AT E. 14TH <br /> AVENUE, EUGENE, OREGON, (EXISTING CITY PARK). THE QUINNEYS OWN THE <br /> PROPERTY ABUTTING THE PARK TO THE EAST, (EXISTING QUINNEY PROPERTY). <br /> THE LEGAL DESCRIPTIONS OF THE EXISTING CITY PARK AND THE EXISTING <br /> QUINNEY PROPERTY RESPECTIVELY ARE IN EXHIBITS 1 AND 2, ATTACHED <br /> HERETO. EACH PROPERTY IN THE CURRENT CONFIGURATION IS ABOUT 16,000 <br /> SQUARE FEET IN SIZE. THE PARTIES DESIRE TO MAKE AN EXCHANGE THROUGH <br /> A BOUNDARY LINE ADJUSTMENT BY HAVING THE CITY OWN THE NORTHERLY <br /> PART OF THE TWO PROPERTIES (NEW CITY PARK OR NEW PARK) AND THE <br /> QUINNEYS OWN THE SOUTHERLY PART OF THE TWO PROPERTIES (NEW <br /> QUINNEYS PARCEL) WITH THE. CITY OWNING ABOUT 13,000 SQUARE FEET AND <br /> THE QUINNEYS OWNING ABOUT 19,000 SQUARE FEET. THE NORTHERLY PART OF <br /> <br /> - THE EXISTING QUINNEY PROPERTY TO BE DEEDED BY THE QUINNEYS TO THE <br /> CITY SHALL BE_ REFERRED TO AS THE CONVEYED QUINNEY PROPERTY. THE <br /> SOUTHERLY PART OF THE EXISTING CITY PARK TO BE DEEDED BY THE CITY TO <br /> THE QUINNEYS SHALL BE REFERRED TO AS CONVEYED CITY PROPERTY. SEE <br /> EXHIBIT-3 FOR GENERAL-OUTLINE OF PROPERTY. EXHIBITS 3=1 AND 3-2 CONTAIN <br /> THE LEGAL DESCRIPTIONS OF PROPERTIES AFTER THE EXCHANGE. <br /> B. 'THE CITY COUNCIL OF EUGENE, IN A MEETING HELD SEPTEMBER 28, <br /> 2005, PASSED A MOTION "TO DIRECT THE CITY MANAGER TO EXECUTE A <br /> PROPERTY EXCHANGE AGREEMENT WITH BOB AND LESLIE QUINNEY BASED ON <br /> THE AMENDED POINTS OF AGREEMENT." <br /> AGREEMENT: <br /> THE PARTIES AGREE AS FOLLOWS: <br /> 1. THE PARTIES WILL EXCHANGE PROPERTIES AS DESCRIBED IN <br /> RECITAL A ABOVE, WHICH IS INCORPORATED HEREIN AS A PART OF THIS <br /> AGREEMENT. THE PARTIES WILL PREPARE AND EXECUTE 'THE TRANSFER <br /> THROUGH A PROPERTY LINE ADJUSTMENT DEED UPON RECEIPT OF BUILDING <br /> PERMITS = BY QUINNEY, TENTATIVELY BY JUNE 2006. A PROPERTY LINE <br /> ADJUSTMENT APPLICATION SHALL BE PREPARED TO SEEK PLANNING APPROVAL <br /> IN TIME TO MEET THE TARGET DATE OF THE TRANSFER. CLOSING OF PROPERTY <br /> EXCHANGE SHALL OCCUR WITHIN 30 DAYS AFTER QUINNEYS RECEIVE <br /> BUILDING PERMITS FROM THE CITY <br /> 2. QUTIVNEYS WILL: <br /> PAGE 1--EXCHANG~ GREEMENT 4/10/2006 <br /> 6~ <br /> <br />